View Future GrowthHeadway Advanced Materials 過去の業績過去 基準チェック /16Headway Advanced Materialsの収益は年間平均-16.2%の割合で減少していますが、 Chemicals業界の収益は年間 減少しています。収益は年間1.7% 7.2%割合で 減少しています。 Headway Advanced Materialsの自己資本利益率は3.3%であり、純利益率は2.8%です。主要情報-16.18%収益成長率-17.18%EPS成長率Chemicals 業界の成長7.89%収益成長率-7.17%株主資本利益率3.26%ネット・マージン2.84%前回の決算情報31 Mar 2026最近の業績更新Reported Earnings • Apr 02Full year 2025 earnings released: EPS: NT$0.28 (vs NT$0.78 in FY 2024)Full year 2025 results: EPS: NT$0.28 (down from NT$0.78 in FY 2024). Revenue: NT$1.03b (down 17% from FY 2024). Net income: NT$16.5m (down 65% from FY 2024). Profit margin: 1.6% (down from 3.8% in FY 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings.Reported Earnings • Nov 18Third quarter 2025 earnings released: EPS: NT$0.02 (vs NT$0.23 in 3Q 2024)Third quarter 2025 results: EPS: NT$0.02 (down from NT$0.23 in 3Q 2024). Revenue: NT$248.9m (down 23% from 3Q 2024). Net income: NT$1.13m (down 92% from 3Q 2024). Profit margin: 0.5% (down from 4.4% in 3Q 2024). Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings.Reported Earnings • May 15First quarter 2025 earnings released: EPS: NT$0.14 (vs NT$0.24 in 1Q 2024)First quarter 2025 results: EPS: NT$0.14 (down from NT$0.24 in 1Q 2024). Revenue: NT$295.8m (up 5.4% from 1Q 2024). Net income: NT$8.64m (down 39% from 1Q 2024). Profit margin: 2.9% (down from 5.1% in 1Q 2024). Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings.Reported Earnings • Apr 02Full year 2024 earnings released: EPS: NT$0.78 (vs NT$0.39 in FY 2023)Full year 2024 results: EPS: NT$0.78 (up from NT$0.39 in FY 2023). Revenue: NT$1.24b (up 2.7% from FY 2023). Net income: NT$46.7m (up 79% from FY 2023). Profit margin: 3.8% (up from 2.2% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings.Reported Earnings • Nov 18Third quarter 2024 earnings released: EPS: NT$0.23 (vs NT$0.094 in 3Q 2023)Third quarter 2024 results: EPS: NT$0.23 (up from NT$0.094 in 3Q 2023). Revenue: NT$321.0m (up 2.6% from 3Q 2023). Net income: NT$14.0m (up 127% from 3Q 2023). Profit margin: 4.4% (up from 2.0% in 3Q 2023). Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings.お知らせ • Oct 31Headway Advanced Materials Inc. to Report Q3, 2024 Results on Nov 06, 2024Headway Advanced Materials Inc. announced that they will report Q3, 2024 results on Nov 06, 2024すべての更新を表示Recent updatesUpcoming Dividend • Jun 05Upcoming dividend of NT$0.60 per shareEligible shareholders must have bought the stock before 12 June 2026. Payment date: 03 July 2026. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 4.3%. Lower than top quartile of Taiwanese dividend payers (4.8%). Higher than average of industry peers (1.5%).Valuation Update With 7 Day Price Move • May 15Investor sentiment improves as stock rises 20%After last week's 20% share price gain to NT$20.35, the stock trades at a trailing P/E ratio of 74x. Average trailing P/E is 32x in the Chemicals industry in Taiwan. Total returns to shareholders of 11% over the past three years.Reported Earnings • Apr 02Full year 2025 earnings released: EPS: NT$0.28 (vs NT$0.78 in FY 2024)Full year 2025 results: EPS: NT$0.28 (down from NT$0.78 in FY 2024). Revenue: NT$1.03b (down 17% from FY 2024). Net income: NT$16.5m (down 65% from FY 2024). Profit margin: 1.6% (down from 3.8% in FY 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings.Declared Dividend • Mar 14Dividend reduced to NT$0.60Dividend of NT$0.60 is 25% lower than last year. Ex-date: 12th June 2026 Payment date: 3rd July 2026 Dividend yield will be 4.0%, which is about the same as the industry average. Sustainability & Growth Dividend is not covered by earnings (dividend approximately 8x earnings). However, it is well covered by cash flows (21% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 852% to bring the payout ratio under control. However, EPS has declined by 37% over the last 5 years so the company would need to reverse this trend.お知らせ • Mar 13Headway Advanced Materials Inc. announces Annual dividend, payable on July 03, 2026Headway Advanced Materials Inc. announced Annual dividend of TWD 0.1000 per share payable on July 03, 2026, ex-date on June 12, 2026 and record date on June 15, 2026.お知らせ • Mar 12Headway Advanced Materials Inc., Annual General Meeting, May 27, 2026Headway Advanced Materials Inc., Annual General Meeting, May 27, 2026, at 10:00 Taipei Standard Time. Location: 3 floor no,77, hsien cheng 8th st., jhubei city, hsinchu county TaiwanReported Earnings • Nov 18Third quarter 2025 earnings released: EPS: NT$0.02 (vs NT$0.23 in 3Q 2024)Third quarter 2025 results: EPS: NT$0.02 (down from NT$0.23 in 3Q 2024). Revenue: NT$248.9m (down 23% from 3Q 2024). Net income: NT$1.13m (down 92% from 3Q 2024). Profit margin: 0.5% (down from 4.4% in 3Q 2024). Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings.New Risk • Aug 20New minor risk - Profit margin trendThe company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 1.9% Last year net profit margin: 4.0% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 15% per year over the past 5 years. Minor Risks Dividend is not well covered by earnings (117% payout ratio). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.9% net profit margin). Market cap is less than US$100m (NT$922.6m market cap, or US$30.5m).Buy Or Sell Opportunity • Aug 03Now 20% undervalued after recent price dropOver the last 90 days, the stock has fallen 14% to NT$15.35. The fair value is estimated to be NT$19.19, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 8.5% over the last 3 years. Earnings per share has grown by 50%.Upcoming Dividend • Jun 06Upcoming dividend of NT$0.80 per shareEligible shareholders must have bought the stock before 13 June 2025. Payment date: 03 July 2025. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 4.5%. Lower than top quartile of Taiwanese dividend payers (5.2%). Higher than average of industry peers (3.1%).Reported Earnings • May 15First quarter 2025 earnings released: EPS: NT$0.14 (vs NT$0.24 in 1Q 2024)First quarter 2025 results: EPS: NT$0.14 (down from NT$0.24 in 1Q 2024). Revenue: NT$295.8m (up 5.4% from 1Q 2024). Net income: NT$8.64m (down 39% from 1Q 2024). Profit margin: 2.9% (down from 5.1% in 1Q 2024). Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings.New Risk • Apr 11New minor risk - Earnings qualityThe company has large one-off items impacting its financial results. One-off items were 22% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 19% per year over the past 5 years. Minor Risks Dividend is not well covered by earnings (103% payout ratio). Large one-off items impacting financial results. Market cap is less than US$100m (NT$1.04b market cap, or US$32.2m).Valuation Update With 7 Day Price Move • Apr 09Investor sentiment deteriorates as stock falls 17%After last week's 17% share price decline to NT$15.95, the stock trades at a trailing P/E ratio of 20.5x. Average trailing P/E is 17x in the Chemicals industry in Taiwan. Total loss to shareholders of 21% over the past three years.Reported Earnings • Apr 02Full year 2024 earnings released: EPS: NT$0.78 (vs NT$0.39 in FY 2023)Full year 2024 results: EPS: NT$0.78 (up from NT$0.39 in FY 2023). Revenue: NT$1.24b (up 2.7% from FY 2023). Net income: NT$46.7m (up 79% from FY 2023). Profit margin: 3.8% (up from 2.2% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings.Declared Dividend • Mar 07Dividend of NT$0.80 announcedShareholders will receive a dividend of NT$0.80. Ex-date: 13th June 2025 Payment date: 3rd July 2025 Dividend yield will be 4.2%, which is higher than the industry average of 4.0%. Sustainability & Growth Dividend is covered by earnings (53% earnings payout ratio) but not covered by cash flows (171% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. Earnings per share has grown by 11% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover.お知らせ • Mar 06+ 2 more updatesHeadway Advanced Materials Inc., Annual General Meeting, May 27, 2025Headway Advanced Materials Inc., Annual General Meeting, May 27, 2025, at 10:00 Taipei Standard Time. Location: 3 floor no,77, hsien cheng 8th st., jhubei city, hsinchu county Taiwan分析記事 • Jan 20Investors Could Be Concerned With Headway Advanced Materials' (TWSE:1776) Returns On CapitalIgnoring the stock price of a company, what are the underlying trends that tell us a business is past the growth phase...Reported Earnings • Nov 18Third quarter 2024 earnings released: EPS: NT$0.23 (vs NT$0.094 in 3Q 2023)Third quarter 2024 results: EPS: NT$0.23 (up from NT$0.094 in 3Q 2023). Revenue: NT$321.0m (up 2.6% from 3Q 2023). Net income: NT$14.0m (up 127% from 3Q 2023). Profit margin: 4.4% (up from 2.0% in 3Q 2023). Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings.お知らせ • Oct 31Headway Advanced Materials Inc. to Report Q3, 2024 Results on Nov 06, 2024Headway Advanced Materials Inc. announced that they will report Q3, 2024 results on Nov 06, 2024分析記事 • Sep 24Return Trends At Headway Advanced Materials (TWSE:1776) Aren't AppealingDid you know there are some financial metrics that can provide clues of a potential multi-bagger? Firstly, we'll want...Valuation Update With 7 Day Price Move • Sep 18Investor sentiment improves as stock rises 15%After last week's 15% share price gain to NT$22.75, the stock trades at a trailing P/E ratio of 27.9x. Average trailing P/E is 22x in the Chemicals industry in Taiwan. Total returns to shareholders of 1.5% over the past three years.New Risk • Sep 12New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 7.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 19% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (7.4% average weekly change). Market cap is less than US$100m (NT$1.18b market cap, or US$36.8m).分析記事 • Aug 28Headway Advanced Materials Inc.'s (TWSE:1776) Shares Bounce 32% But Its Business Still Trails The IndustryHeadway Advanced Materials Inc. ( TWSE:1776 ) shareholders have had their patience rewarded with a 32% share price jump...Valuation Update With 7 Day Price Move • Aug 23Investor sentiment improves as stock rises 21%After last week's 21% share price gain to NT$21.30, the stock trades at a trailing P/E ratio of 26.2x. Average trailing P/E is 23x in the Chemicals industry in Taiwan. Total returns to shareholders of 20% over the past three years.Reported Earnings • Aug 17Second quarter 2024 earnings released: EPS: NT$0.18 (vs NT$0.062 loss in 2Q 2023)Second quarter 2024 results: EPS: NT$0.18 (up from NT$0.062 loss in 2Q 2023). Revenue: NT$294.6m (up 21% from 2Q 2023). Net income: NT$10.6m (up NT$14.4m from 2Q 2023). Profit margin: 3.6% (up from net loss in 2Q 2023). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings.お知らせ • Jul 31Headway Advanced Materials Inc. to Report Q2, 2024 Results on Aug 07, 2024Headway Advanced Materials Inc. announced that they will report Q2, 2024 results on Aug 07, 2024Upcoming Dividend • Jun 06Upcoming dividend of NT$0.50 per shareEligible shareholders must have bought the stock before 13 June 2024. Payment date: 11 July 2024. Payout ratio is on the higher end at 92%, however this is supported by cash flows. Trailing yield: 2.8%. Lower than top quartile of Taiwanese dividend payers (4.2%). Higher than average of industry peers (2.2%).お知らせ • May 26Headway Advanced Materials Inc. Announces No Re-Election of Lee, Lin-Sheng as Independent DirectorHeadway Advanced Materials Inc. at its 2024 Annual General Shareholders' Meeting, announced Lee, Lin-Sheng, Managing Attorney of Lee Hsu & Wang Attorneys-at-Law, not re-elected as independent director.お知らせ • May 25Headway Advanced Materials Inc. Approves Directors AppointmentHeadway Advanced Materials Inc. Elected Liou, Han-Yin. Chao, Wei-Chun Cheng, Chih-Wen Lee, Hwang-Pao Chen, Yu-Ting Chen, Tzu-Chin as Director, Chen, Chien-Yuan Chang, Juei-Fang Chang, Shu-Mei as Independent directors. The newly appointed directors (including independent directors) will serve a term of three years from May 24, 2024.Reported Earnings • May 19First quarter 2024 earnings released: EPS: NT$0.24 (vs NT$0.095 in 1Q 2023)First quarter 2024 results: EPS: NT$0.24 (up from NT$0.095 in 1Q 2023). Revenue: NT$280.8m (down 12% from 1Q 2023). Net income: NT$14.2m (up 152% from 1Q 2023). Profit margin: 5.1% (up from 1.8% in 1Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 62 percentage points per year, which is a significant difference in performance.お知らせ • May 11Headway Advanced Materials Inc. to Report Q1, 2024 Results on May 08, 2024Headway Advanced Materials Inc. announced that they will report Q1, 2024 results on May 08, 2024Reported Earnings • Mar 17Full year 2023 earnings released: EPS: NT$0.39 (vs NT$0.31 in FY 2022)Full year 2023 results: EPS: NT$0.39 (up from NT$0.31 in FY 2022). Revenue: NT$1.21b (down 17% from FY 2022). Net income: NT$26.0m (up 40% from FY 2022). Profit margin: 2.2% (up from 1.3% in FY 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 71 percentage points per year, which is a significant difference in performance.Declared Dividend • Mar 09Dividend of NT$0.50 announcedShareholders will receive a dividend of NT$0.50. Ex-date: 13th June 2024 Payment date: 11th July 2024 Dividend yield will be 11%, which is higher than the industry average of 4.0%. Sustainability & Growth Dividend is not covered by earnings (dividend approximately 5x earnings). However, it is well covered by cash flows (30% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 460% to bring the payout ratio under control. However, EPS has declined by 12% over the last 5 years so the company would need to reverse this trend.お知らせ • Mar 06Headway Advanced Materials Inc., Annual General Meeting, May 24, 2024Headway Advanced Materials Inc., Annual General Meeting, May 24, 2024. Location: 3F., No. 77, Xianzheng 8th St., Zhubei City Hsinchu County Taiwan Agenda: To consider 2023 Business Report; to consider Audit Committee's Review Report on the 2023 Financial Statements; to consider report 2023 employees' and directors' compensation; and to transact such other business matters.分析記事 • Feb 29There's No Escaping Headway Advanced Materials Inc.'s (TWSE:1776) Muted RevenuesWith a price-to-sales (or "P/S") ratio of 0.9x Headway Advanced Materials Inc. ( TWSE:1776 ) may be sending bullish...New Risk • Nov 24New major risk - Revenue and earnings growthEarnings have declined by 0.7% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 0.7% per year over the past 5 years. Minor Risks Dividend is not well covered by earnings (438% payout ratio). Market cap is less than US$100m (NT$1.04b market cap, or US$32.9m).Upcoming Dividend • Sep 20Upcoming dividend of NT$1.45 per share at 3.6% yieldEligible shareholders must have bought the stock before 27 September 2023. Payment date: 13 October 2023. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 3.6%. Lower than top quartile of Taiwanese dividend payers (5.5%). In line with average of industry peers (3.7%).Reported Earnings • Aug 14Second quarter 2023 earnings released: NT$0.05 loss per share (vs NT$0.009 loss in 2Q 2022)Second quarter 2023 results: NT$0.05 loss per share (further deteriorated from NT$0.009 loss in 2Q 2022). Revenue: NT$242.9m (down 35% from 2Q 2022). Net loss: NT$3.74m (loss widened 489% from 2Q 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 63 percentage points per year, which is a significant difference in performance.Upcoming Dividend • Jun 13Upcoming dividend of NT$0.60 per share at 3.3% yieldEligible shareholders must have bought the stock before 20 June 2023. Payment date: 12 July 2023. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 3.3%. Lower than top quartile of Taiwanese dividend payers (5.5%). In line with average of industry peers (3.5%).Valuation Update With 7 Day Price Move • May 13Investor sentiment deteriorates as stock falls 17%After last week's 17% share price decline to NT$18.50, the stock trades at a trailing P/E ratio of 69.9x. Average trailing P/E is 17x in the Chemicals industry in Taiwan. Total returns to shareholders of 29% over the past three years.Valuation Update With 7 Day Price Move • Apr 28Investor sentiment improves as stock rises 25%After last week's 25% share price gain to NT$21.15, the stock trades at a trailing P/E ratio of 79.9x. Average trailing P/E is 18x in the Chemicals industry in Taiwan. Total returns to shareholders of 49% over the past three years.Reported Earnings • Mar 30Full year 2022 earnings released: EPS: NT$0.27 (vs NT$0.46 in FY 2021)Full year 2022 results: EPS: NT$0.27 (down from NT$0.46 in FY 2021). Revenue: NT$1.45b (down 1.9% from FY 2021). Net income: NT$18.6m (down 42% from FY 2021). Profit margin: 1.3% (down from 2.2% in FY 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 39% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings.Buying Opportunity • Nov 25Now 20% undervalued after recent price dropOver the last 90 days, the stock is down 12%. The fair value is estimated to be NT$20.79, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 25%.Reported Earnings • Nov 20Third quarter 2022 earnings released: NT$0.001 loss per share (vs NT$0.12 profit in 3Q 2021)Third quarter 2022 results: NT$0.001 loss per share (down from NT$0.12 profit in 3Q 2021). Revenue: NT$332.3m (down 7.4% from 3Q 2021). Net loss: NT$61.0k (down 101% from profit in 3Q 2021). Profit margin: 0% (down from 2.3% in 3Q 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings.Buying Opportunity • Aug 26Now 21% undervalued after recent price dropOver the last 90 days, the stock is down 3.6%. The fair value is estimated to be NT$23.87, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 4.4% over the last 3 years. Earnings per share has declined by 2.5%.Upcoming Dividend • Aug 19Upcoming dividend of NT$1.50 per shareEligible shareholders must have bought the stock before 26 August 2022. Payment date: 16 September 2022. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 7.6%. Within top quartile of Taiwanese dividend payers (6.5%). In line with average of industry peers (7.7%).Reported Earnings • May 16First quarter 2022 earnings released: EPS: NT$0.26 (vs NT$0.30 in 1Q 2021)First quarter 2022 results: EPS: NT$0.26 (down from NT$0.30 in 1Q 2021). Revenue: NT$417.3m (up 12% from 1Q 2021). Net income: NT$18.1m (down 13% from 1Q 2021). Profit margin: 4.3% (down from 5.6% in 1Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth.Reported Earnings • Mar 28Full year 2021 earnings released: EPS: NT$0.46 (vs NT$0.65 in FY 2020)Full year 2021 results: EPS: NT$0.46 (down from NT$0.65 in FY 2020). Revenue: NT$1.48b (up 6.9% from FY 2020). Net income: NT$31.8m (down 30% from FY 2020). Profit margin: 2.2% (down from 3.3% in FY 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 47% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth.Reported Earnings • Nov 17Third quarter 2021 earnings released: EPS NT$0.12 (vs NT$0.24 in 3Q 2020)The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: NT$359.0m (up 7.8% from 3Q 2020). Net income: NT$8.18m (down 51% from 3Q 2020). Profit margin: 2.3% (down from 5.0% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 55% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth.Valuation Update With 7 Day Price Move • Oct 05Investor sentiment deteriorated over the past weekAfter last week's 20% share price decline to NT$21.30, the stock trades at a trailing P/E ratio of 27.2x. Average trailing P/E is 15x in the Chemicals industry in Taiwan. Total returns to shareholders of 34% over the past three years.Valuation Update With 7 Day Price Move • Sep 01Investor sentiment improved over the past weekAfter last week's 17% share price gain to NT$22.00, the stock trades at a trailing P/E ratio of 27.7x. Average trailing P/E is 15x in the Chemicals industry in Taiwan. Total returns to shareholders of 33% over the past three years.Reported Earnings • Aug 18Second quarter 2021 earnings released: EPS NT$0.16 (vs NT$0.033 loss in 2Q 2020)The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: NT$376.7m (up 41% from 2Q 2020). Net income: NT$10.9m (up NT$13.2m from 2Q 2020). Profit margin: 2.9% (up from net loss in 2Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has remained flat, which means it is significantly lagging earnings.Valuation Update With 7 Day Price Move • Aug 18Investor sentiment improved over the past weekAfter last week's 16% share price gain to NT$20.65, the stock trades at a trailing P/E ratio of 25.4x. Average trailing P/E is 17x in the Chemicals industry in Taiwan. Total returns to shareholders of 21% over the past three years.Upcoming Dividend • Aug 18Upcoming dividend of NT$1.00 per shareEligible shareholders must have bought the stock before 25 August 2021. Payment date: 17 September 2021. Trailing yield: 4.8%. Lower than top quartile of Taiwanese dividend payers (5.3%). Higher than average of industry peers (2.9%).Reported Earnings • May 18First quarter 2021 earnings released: EPS NT$0.30 (vs NT$0.14 in 1Q 2020)The company reported a decent first quarter result with improved earnings and profit margins, although revenues were weaker. First quarter 2021 results: Revenue: NT$373.9m (down 1.0% from 1Q 2020). Net income: NT$21.0m (up 117% from 1Q 2020). Profit margin: 5.6% (up from 2.6% in 1Q 2020). Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings.分析記事 • Apr 28Does Headway Advanced Materials (TPE:1776) Have A Healthy Balance Sheet?Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...分析記事 • Apr 02Headway Advanced Materials (TPE:1776) Could Be Struggling To Allocate CapitalWhat underlying fundamental trends can indicate that a company might be in decline? When we see a declining return on...Reported Earnings • Apr 01Full year 2020 earnings released: EPS NT$0.65 (vs NT$0.86 in FY 2019)The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$1.38b (down 14% from FY 2019). Net income: NT$45.2m (down 24% from FY 2019). Profit margin: 3.3% (down from 3.7% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 7% per year and the company’s share price has also fallen by 7% per year.分析記事 • Mar 07Does Headway Advanced Materials Inc.'s (TPE:1776) Weak Fundamentals Mean A Downturn In Its Stock Should Be Expected?Headway Advanced Materials' (TPE:1776) stock up by 1.9% over the past three months. However, in this article, we...お知らせ • Feb 23Headway Advanced Materials Inc., Annual General Meeting, May 31, 2021Headway Advanced Materials Inc., Annual General Meeting, May 31, 2021.分析記事 • Jan 27We Think Headway Advanced Materials (TPE:1776) Can Stay On Top Of Its DebtHoward Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...分析記事 • Jan 01Is Headway Advanced Materials (TPE:1776) Using Capital Effectively?When researching a stock for investment, what can tell us that the company is in decline? More often than not, we'll...Is New 90 Day High Low • Dec 21New 90-day high: NT$16.70The company is up 7.0% from its price of NT$15.55 on 22 September 2020. The Taiwanese market is up 11% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 8.0% over the same period.分析記事 • Dec 06Headway Advanced Materials Inc.'s (TPE:1776) Financial Prospects Don't Look Very Positive: Could It Mean A Stock Price Drop In The Future?Most readers would already know that Headway Advanced Materials' (TPE:1776) stock increased by 2.3% over the past...Reported Earnings • Nov 14Third quarter 2020 earnings released: EPS NT$0.24The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2020 results: Revenue: NT$333.2m (down 12% from 3Q 2019). Net income: NT$16.6m (up 26% from 3Q 2019). Profit margin: 5.0% (up from 3.5% in 3Q 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings.Is New 90 Day High Low • Sep 21New 90-day low: NT$15.50The company is down 8.0% from its price of NT$16.90 on 23 June 2020. The Taiwanese market is up 11% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is flat over the same period.収支内訳Headway Advanced Materials の稼ぎ方とお金の使い方。LTMベースの直近の報告された収益に基づく。収益と収入の歴史TWSE:1776 収益、費用、利益 ( )TWD Millions日付収益収益G+A経費研究開発費31 Mar 261,030291212031 Dec 251,032171232130 Sep 251,11861442130 Jun 251,186181552131 Mar 251,255411622231 Dec 241,226471622330 Sep 241,223561562330 Jun 241,218481572331 Mar 241,169351492331 Dec 231,207261482430 Sep 231,20091442430 Jun 231,22031392431 Mar 231,35061432531 Dec 221,448191532730 Sep 221,48971522730 Jun 221,516161582831 Mar 221,519271702831 Dec 211,476321662730 Sep 211,513651813030 Jun 211,488751783031 Mar 211,377781583131 Dec 201,381651643130 Sep 201,388561613030 Jun 201,433511653131 Mar 201,587631843131 Dec 191,614601893230 Sep 191,672331923230 Jun 191,778141943331 Mar 191,861-201883731 Dec 181,919-341923930 Sep 182,051171954130 Jun 182,118352044231 Mar 182,095842143831 Dec 172,120942173930 Sep 172,050982343930 Jun 171,962982484131 Mar 171,953882584131 Dec 161,9111082754230 Sep 161,983992744230 Jun 162,1101302884631 Mar 162,2281322935831 Dec 152,2901292905530 Sep 152,3811132886430 Jun 152,46510527861質の高い収益: 1776は 高品質の収益 を持っています。利益率の向上: 1776の現在の純利益率 (2.8%)は、昨年(3.3%)よりも低くなっています。フリー・キャッシュフローと収益の比較過去の収益成長分析収益動向: 1776の収益は過去 5 年間で年間16.2%減少しました。成長の加速: 1776は過去 1 年間の収益成長がマイナスであったため、5 年間の平均と比較することはできません。収益対業界: 1776は過去 1 年間で収益成長率がマイナス ( -28.9% ) となったため、 Chemicals業界平均 ( -7.2% ) と比較することが困難です。株主資本利益率高いROE: 1776の 自己資本利益率 ( 3.3% ) は 低い とみなされます。総資産利益率使用総資本利益率過去の好業績企業の発掘7D1Y7D1Y7D1YMaterials 、過去の業績が好調な企業。View Financial Health企業分析と財務データの現状データ最終更新日（UTC時間）企業分析2026/06/16 23:50終値2026/06/16 00:00収益2026/03/31年間収益2025/12/31データソース企業分析に使用したデータはS&P Global Market Intelligence LLC のものです。本レポートを作成するための分析モデルでは、以下のデータを使用しています。データは正規化されているため、ソースが利用可能になるまでに時間がかかる場合があります。パッケージデータタイムフレーム米国ソース例会社財務10年損益計算書キャッシュ・フロー計算書貸借対照表SECフォーム10-KSECフォーム10-Qアナリストのコンセンサス予想+プラス3年予想財務アナリストの目標株価アナリストリサーチレポートBlue Matrix市場価格30年株価配当、分割、措置ICEマーケットデータSECフォームS-1所有権10年トップ株主インサイダー取引SECフォーム4SECフォーム13Dマネジメント10年リーダーシップ・チーム取締役会SECフォーム10-KSECフォームDEF 14A主な進展10年会社からのお知らせSECフォーム8-K* 米国証券を対象とした例であり、非米国証券については、同等の規制書式および情報源を使用。特に断りのない限り、すべての財務データは1年ごとの期間に基づいていますが、四半期ごとに更新されます。これは、TTM（Trailing Twelve Month）またはLTM（Last Twelve Month）データとして知られています。詳細はこちら。分析モデルとスノーフレーク本レポートを生成するために使用した分析モデルの詳細は当社のGithubページでご覧いただけます。また、レポートの使用方法に関するガイドやYoutubeのチュートリアルも掲載しています。シンプリー・ウォールストリート分析モデルを設計・構築した世界トップクラスのチームについてご紹介します。業界およびセクターの指標私たちの業界とセクションの指標は、Simply Wall Stによって6時間ごとに計算されます。アナリスト筋Headway Advanced Materials Inc. 0 これらのアナリストのうち、弊社レポートのインプットとして使用した売上高または利益の予想を提出したのは、 。アナリストの投稿は一日中更新されます。1 アナリスト機関Xiu Lian WuCapital Securities Corporation
Reported Earnings • Apr 02Full year 2025 earnings released: EPS: NT$0.28 (vs NT$0.78 in FY 2024)Full year 2025 results: EPS: NT$0.28 (down from NT$0.78 in FY 2024). Revenue: NT$1.03b (down 17% from FY 2024). Net income: NT$16.5m (down 65% from FY 2024). Profit margin: 1.6% (down from 3.8% in FY 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings.
Reported Earnings • Nov 18Third quarter 2025 earnings released: EPS: NT$0.02 (vs NT$0.23 in 3Q 2024)Third quarter 2025 results: EPS: NT$0.02 (down from NT$0.23 in 3Q 2024). Revenue: NT$248.9m (down 23% from 3Q 2024). Net income: NT$1.13m (down 92% from 3Q 2024). Profit margin: 0.5% (down from 4.4% in 3Q 2024). Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings.
Reported Earnings • May 15First quarter 2025 earnings released: EPS: NT$0.14 (vs NT$0.24 in 1Q 2024)First quarter 2025 results: EPS: NT$0.14 (down from NT$0.24 in 1Q 2024). Revenue: NT$295.8m (up 5.4% from 1Q 2024). Net income: NT$8.64m (down 39% from 1Q 2024). Profit margin: 2.9% (down from 5.1% in 1Q 2024). Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings.
Reported Earnings • Apr 02Full year 2024 earnings released: EPS: NT$0.78 (vs NT$0.39 in FY 2023)Full year 2024 results: EPS: NT$0.78 (up from NT$0.39 in FY 2023). Revenue: NT$1.24b (up 2.7% from FY 2023). Net income: NT$46.7m (up 79% from FY 2023). Profit margin: 3.8% (up from 2.2% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings.
Reported Earnings • Nov 18Third quarter 2024 earnings released: EPS: NT$0.23 (vs NT$0.094 in 3Q 2023)Third quarter 2024 results: EPS: NT$0.23 (up from NT$0.094 in 3Q 2023). Revenue: NT$321.0m (up 2.6% from 3Q 2023). Net income: NT$14.0m (up 127% from 3Q 2023). Profit margin: 4.4% (up from 2.0% in 3Q 2023). Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings.
お知らせ • Oct 31Headway Advanced Materials Inc. to Report Q3, 2024 Results on Nov 06, 2024Headway Advanced Materials Inc. announced that they will report Q3, 2024 results on Nov 06, 2024
Upcoming Dividend • Jun 05Upcoming dividend of NT$0.60 per shareEligible shareholders must have bought the stock before 12 June 2026. Payment date: 03 July 2026. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 4.3%. Lower than top quartile of Taiwanese dividend payers (4.8%). Higher than average of industry peers (1.5%).
Valuation Update With 7 Day Price Move • May 15Investor sentiment improves as stock rises 20%After last week's 20% share price gain to NT$20.35, the stock trades at a trailing P/E ratio of 74x. Average trailing P/E is 32x in the Chemicals industry in Taiwan. Total returns to shareholders of 11% over the past three years.
Reported Earnings • Apr 02Full year 2025 earnings released: EPS: NT$0.28 (vs NT$0.78 in FY 2024)Full year 2025 results: EPS: NT$0.28 (down from NT$0.78 in FY 2024). Revenue: NT$1.03b (down 17% from FY 2024). Net income: NT$16.5m (down 65% from FY 2024). Profit margin: 1.6% (down from 3.8% in FY 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings.
Declared Dividend • Mar 14Dividend reduced to NT$0.60Dividend of NT$0.60 is 25% lower than last year. Ex-date: 12th June 2026 Payment date: 3rd July 2026 Dividend yield will be 4.0%, which is about the same as the industry average. Sustainability & Growth Dividend is not covered by earnings (dividend approximately 8x earnings). However, it is well covered by cash flows (21% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 852% to bring the payout ratio under control. However, EPS has declined by 37% over the last 5 years so the company would need to reverse this trend.
お知らせ • Mar 13Headway Advanced Materials Inc. announces Annual dividend, payable on July 03, 2026Headway Advanced Materials Inc. announced Annual dividend of TWD 0.1000 per share payable on July 03, 2026, ex-date on June 12, 2026 and record date on June 15, 2026.
お知らせ • Mar 12Headway Advanced Materials Inc., Annual General Meeting, May 27, 2026Headway Advanced Materials Inc., Annual General Meeting, May 27, 2026, at 10:00 Taipei Standard Time. Location: 3 floor no,77, hsien cheng 8th st., jhubei city, hsinchu county Taiwan
Reported Earnings • Nov 18Third quarter 2025 earnings released: EPS: NT$0.02 (vs NT$0.23 in 3Q 2024)Third quarter 2025 results: EPS: NT$0.02 (down from NT$0.23 in 3Q 2024). Revenue: NT$248.9m (down 23% from 3Q 2024). Net income: NT$1.13m (down 92% from 3Q 2024). Profit margin: 0.5% (down from 4.4% in 3Q 2024). Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings.
New Risk • Aug 20New minor risk - Profit margin trendThe company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 1.9% Last year net profit margin: 4.0% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 15% per year over the past 5 years. Minor Risks Dividend is not well covered by earnings (117% payout ratio). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.9% net profit margin). Market cap is less than US$100m (NT$922.6m market cap, or US$30.5m).
Buy Or Sell Opportunity • Aug 03Now 20% undervalued after recent price dropOver the last 90 days, the stock has fallen 14% to NT$15.35. The fair value is estimated to be NT$19.19, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 8.5% over the last 3 years. Earnings per share has grown by 50%.
Upcoming Dividend • Jun 06Upcoming dividend of NT$0.80 per shareEligible shareholders must have bought the stock before 13 June 2025. Payment date: 03 July 2025. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 4.5%. Lower than top quartile of Taiwanese dividend payers (5.2%). Higher than average of industry peers (3.1%).
Reported Earnings • May 15First quarter 2025 earnings released: EPS: NT$0.14 (vs NT$0.24 in 1Q 2024)First quarter 2025 results: EPS: NT$0.14 (down from NT$0.24 in 1Q 2024). Revenue: NT$295.8m (up 5.4% from 1Q 2024). Net income: NT$8.64m (down 39% from 1Q 2024). Profit margin: 2.9% (down from 5.1% in 1Q 2024). Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings.
New Risk • Apr 11New minor risk - Earnings qualityThe company has large one-off items impacting its financial results. One-off items were 22% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 19% per year over the past 5 years. Minor Risks Dividend is not well covered by earnings (103% payout ratio). Large one-off items impacting financial results. Market cap is less than US$100m (NT$1.04b market cap, or US$32.2m).
Valuation Update With 7 Day Price Move • Apr 09Investor sentiment deteriorates as stock falls 17%After last week's 17% share price decline to NT$15.95, the stock trades at a trailing P/E ratio of 20.5x. Average trailing P/E is 17x in the Chemicals industry in Taiwan. Total loss to shareholders of 21% over the past three years.
Reported Earnings • Apr 02Full year 2024 earnings released: EPS: NT$0.78 (vs NT$0.39 in FY 2023)Full year 2024 results: EPS: NT$0.78 (up from NT$0.39 in FY 2023). Revenue: NT$1.24b (up 2.7% from FY 2023). Net income: NT$46.7m (up 79% from FY 2023). Profit margin: 3.8% (up from 2.2% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings.
Declared Dividend • Mar 07Dividend of NT$0.80 announcedShareholders will receive a dividend of NT$0.80. Ex-date: 13th June 2025 Payment date: 3rd July 2025 Dividend yield will be 4.2%, which is higher than the industry average of 4.0%. Sustainability & Growth Dividend is covered by earnings (53% earnings payout ratio) but not covered by cash flows (171% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. Earnings per share has grown by 11% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover.
お知らせ • Mar 06+ 2 more updatesHeadway Advanced Materials Inc., Annual General Meeting, May 27, 2025Headway Advanced Materials Inc., Annual General Meeting, May 27, 2025, at 10:00 Taipei Standard Time. Location: 3 floor no,77, hsien cheng 8th st., jhubei city, hsinchu county Taiwan
分析記事 • Jan 20Investors Could Be Concerned With Headway Advanced Materials' (TWSE:1776) Returns On CapitalIgnoring the stock price of a company, what are the underlying trends that tell us a business is past the growth phase...
Reported Earnings • Nov 18Third quarter 2024 earnings released: EPS: NT$0.23 (vs NT$0.094 in 3Q 2023)Third quarter 2024 results: EPS: NT$0.23 (up from NT$0.094 in 3Q 2023). Revenue: NT$321.0m (up 2.6% from 3Q 2023). Net income: NT$14.0m (up 127% from 3Q 2023). Profit margin: 4.4% (up from 2.0% in 3Q 2023). Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings.
お知らせ • Oct 31Headway Advanced Materials Inc. to Report Q3, 2024 Results on Nov 06, 2024Headway Advanced Materials Inc. announced that they will report Q3, 2024 results on Nov 06, 2024
分析記事 • Sep 24Return Trends At Headway Advanced Materials (TWSE:1776) Aren't AppealingDid you know there are some financial metrics that can provide clues of a potential multi-bagger? Firstly, we'll want...
Valuation Update With 7 Day Price Move • Sep 18Investor sentiment improves as stock rises 15%After last week's 15% share price gain to NT$22.75, the stock trades at a trailing P/E ratio of 27.9x. Average trailing P/E is 22x in the Chemicals industry in Taiwan. Total returns to shareholders of 1.5% over the past three years.
New Risk • Sep 12New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 7.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 19% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (7.4% average weekly change). Market cap is less than US$100m (NT$1.18b market cap, or US$36.8m).
分析記事 • Aug 28Headway Advanced Materials Inc.'s (TWSE:1776) Shares Bounce 32% But Its Business Still Trails The IndustryHeadway Advanced Materials Inc. ( TWSE:1776 ) shareholders have had their patience rewarded with a 32% share price jump...
Valuation Update With 7 Day Price Move • Aug 23Investor sentiment improves as stock rises 21%After last week's 21% share price gain to NT$21.30, the stock trades at a trailing P/E ratio of 26.2x. Average trailing P/E is 23x in the Chemicals industry in Taiwan. Total returns to shareholders of 20% over the past three years.
Reported Earnings • Aug 17Second quarter 2024 earnings released: EPS: NT$0.18 (vs NT$0.062 loss in 2Q 2023)Second quarter 2024 results: EPS: NT$0.18 (up from NT$0.062 loss in 2Q 2023). Revenue: NT$294.6m (up 21% from 2Q 2023). Net income: NT$10.6m (up NT$14.4m from 2Q 2023). Profit margin: 3.6% (up from net loss in 2Q 2023). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings.
お知らせ • Jul 31Headway Advanced Materials Inc. to Report Q2, 2024 Results on Aug 07, 2024Headway Advanced Materials Inc. announced that they will report Q2, 2024 results on Aug 07, 2024
Upcoming Dividend • Jun 06Upcoming dividend of NT$0.50 per shareEligible shareholders must have bought the stock before 13 June 2024. Payment date: 11 July 2024. Payout ratio is on the higher end at 92%, however this is supported by cash flows. Trailing yield: 2.8%. Lower than top quartile of Taiwanese dividend payers (4.2%). Higher than average of industry peers (2.2%).
お知らせ • May 26Headway Advanced Materials Inc. Announces No Re-Election of Lee, Lin-Sheng as Independent DirectorHeadway Advanced Materials Inc. at its 2024 Annual General Shareholders' Meeting, announced Lee, Lin-Sheng, Managing Attorney of Lee Hsu & Wang Attorneys-at-Law, not re-elected as independent director.
お知らせ • May 25Headway Advanced Materials Inc. Approves Directors AppointmentHeadway Advanced Materials Inc. Elected Liou, Han-Yin. Chao, Wei-Chun Cheng, Chih-Wen Lee, Hwang-Pao Chen, Yu-Ting Chen, Tzu-Chin as Director, Chen, Chien-Yuan Chang, Juei-Fang Chang, Shu-Mei as Independent directors. The newly appointed directors (including independent directors) will serve a term of three years from May 24, 2024.
Reported Earnings • May 19First quarter 2024 earnings released: EPS: NT$0.24 (vs NT$0.095 in 1Q 2023)First quarter 2024 results: EPS: NT$0.24 (up from NT$0.095 in 1Q 2023). Revenue: NT$280.8m (down 12% from 1Q 2023). Net income: NT$14.2m (up 152% from 1Q 2023). Profit margin: 5.1% (up from 1.8% in 1Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 62 percentage points per year, which is a significant difference in performance.
お知らせ • May 11Headway Advanced Materials Inc. to Report Q1, 2024 Results on May 08, 2024Headway Advanced Materials Inc. announced that they will report Q1, 2024 results on May 08, 2024
Reported Earnings • Mar 17Full year 2023 earnings released: EPS: NT$0.39 (vs NT$0.31 in FY 2022)Full year 2023 results: EPS: NT$0.39 (up from NT$0.31 in FY 2022). Revenue: NT$1.21b (down 17% from FY 2022). Net income: NT$26.0m (up 40% from FY 2022). Profit margin: 2.2% (up from 1.3% in FY 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 71 percentage points per year, which is a significant difference in performance.
Declared Dividend • Mar 09Dividend of NT$0.50 announcedShareholders will receive a dividend of NT$0.50. Ex-date: 13th June 2024 Payment date: 11th July 2024 Dividend yield will be 11%, which is higher than the industry average of 4.0%. Sustainability & Growth Dividend is not covered by earnings (dividend approximately 5x earnings). However, it is well covered by cash flows (30% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 460% to bring the payout ratio under control. However, EPS has declined by 12% over the last 5 years so the company would need to reverse this trend.
お知らせ • Mar 06Headway Advanced Materials Inc., Annual General Meeting, May 24, 2024Headway Advanced Materials Inc., Annual General Meeting, May 24, 2024. Location: 3F., No. 77, Xianzheng 8th St., Zhubei City Hsinchu County Taiwan Agenda: To consider 2023 Business Report; to consider Audit Committee's Review Report on the 2023 Financial Statements; to consider report 2023 employees' and directors' compensation; and to transact such other business matters.
分析記事 • Feb 29There's No Escaping Headway Advanced Materials Inc.'s (TWSE:1776) Muted RevenuesWith a price-to-sales (or "P/S") ratio of 0.9x Headway Advanced Materials Inc. ( TWSE:1776 ) may be sending bullish...
New Risk • Nov 24New major risk - Revenue and earnings growthEarnings have declined by 0.7% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 0.7% per year over the past 5 years. Minor Risks Dividend is not well covered by earnings (438% payout ratio). Market cap is less than US$100m (NT$1.04b market cap, or US$32.9m).
Upcoming Dividend • Sep 20Upcoming dividend of NT$1.45 per share at 3.6% yieldEligible shareholders must have bought the stock before 27 September 2023. Payment date: 13 October 2023. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 3.6%. Lower than top quartile of Taiwanese dividend payers (5.5%). In line with average of industry peers (3.7%).
Reported Earnings • Aug 14Second quarter 2023 earnings released: NT$0.05 loss per share (vs NT$0.009 loss in 2Q 2022)Second quarter 2023 results: NT$0.05 loss per share (further deteriorated from NT$0.009 loss in 2Q 2022). Revenue: NT$242.9m (down 35% from 2Q 2022). Net loss: NT$3.74m (loss widened 489% from 2Q 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 63 percentage points per year, which is a significant difference in performance.
Upcoming Dividend • Jun 13Upcoming dividend of NT$0.60 per share at 3.3% yieldEligible shareholders must have bought the stock before 20 June 2023. Payment date: 12 July 2023. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 3.3%. Lower than top quartile of Taiwanese dividend payers (5.5%). In line with average of industry peers (3.5%).
Valuation Update With 7 Day Price Move • May 13Investor sentiment deteriorates as stock falls 17%After last week's 17% share price decline to NT$18.50, the stock trades at a trailing P/E ratio of 69.9x. Average trailing P/E is 17x in the Chemicals industry in Taiwan. Total returns to shareholders of 29% over the past three years.
Valuation Update With 7 Day Price Move • Apr 28Investor sentiment improves as stock rises 25%After last week's 25% share price gain to NT$21.15, the stock trades at a trailing P/E ratio of 79.9x. Average trailing P/E is 18x in the Chemicals industry in Taiwan. Total returns to shareholders of 49% over the past three years.
Reported Earnings • Mar 30Full year 2022 earnings released: EPS: NT$0.27 (vs NT$0.46 in FY 2021)Full year 2022 results: EPS: NT$0.27 (down from NT$0.46 in FY 2021). Revenue: NT$1.45b (down 1.9% from FY 2021). Net income: NT$18.6m (down 42% from FY 2021). Profit margin: 1.3% (down from 2.2% in FY 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 39% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings.
Buying Opportunity • Nov 25Now 20% undervalued after recent price dropOver the last 90 days, the stock is down 12%. The fair value is estimated to be NT$20.79, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 25%.
Reported Earnings • Nov 20Third quarter 2022 earnings released: NT$0.001 loss per share (vs NT$0.12 profit in 3Q 2021)Third quarter 2022 results: NT$0.001 loss per share (down from NT$0.12 profit in 3Q 2021). Revenue: NT$332.3m (down 7.4% from 3Q 2021). Net loss: NT$61.0k (down 101% from profit in 3Q 2021). Profit margin: 0% (down from 2.3% in 3Q 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings.
Buying Opportunity • Aug 26Now 21% undervalued after recent price dropOver the last 90 days, the stock is down 3.6%. The fair value is estimated to be NT$23.87, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 4.4% over the last 3 years. Earnings per share has declined by 2.5%.
Upcoming Dividend • Aug 19Upcoming dividend of NT$1.50 per shareEligible shareholders must have bought the stock before 26 August 2022. Payment date: 16 September 2022. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 7.6%. Within top quartile of Taiwanese dividend payers (6.5%). In line with average of industry peers (7.7%).
Reported Earnings • May 16First quarter 2022 earnings released: EPS: NT$0.26 (vs NT$0.30 in 1Q 2021)First quarter 2022 results: EPS: NT$0.26 (down from NT$0.30 in 1Q 2021). Revenue: NT$417.3m (up 12% from 1Q 2021). Net income: NT$18.1m (down 13% from 1Q 2021). Profit margin: 4.3% (down from 5.6% in 1Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth.
Reported Earnings • Mar 28Full year 2021 earnings released: EPS: NT$0.46 (vs NT$0.65 in FY 2020)Full year 2021 results: EPS: NT$0.46 (down from NT$0.65 in FY 2020). Revenue: NT$1.48b (up 6.9% from FY 2020). Net income: NT$31.8m (down 30% from FY 2020). Profit margin: 2.2% (down from 3.3% in FY 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 47% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth.
Reported Earnings • Nov 17Third quarter 2021 earnings released: EPS NT$0.12 (vs NT$0.24 in 3Q 2020)The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: NT$359.0m (up 7.8% from 3Q 2020). Net income: NT$8.18m (down 51% from 3Q 2020). Profit margin: 2.3% (down from 5.0% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 55% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth.
Valuation Update With 7 Day Price Move • Oct 05Investor sentiment deteriorated over the past weekAfter last week's 20% share price decline to NT$21.30, the stock trades at a trailing P/E ratio of 27.2x. Average trailing P/E is 15x in the Chemicals industry in Taiwan. Total returns to shareholders of 34% over the past three years.
Valuation Update With 7 Day Price Move • Sep 01Investor sentiment improved over the past weekAfter last week's 17% share price gain to NT$22.00, the stock trades at a trailing P/E ratio of 27.7x. Average trailing P/E is 15x in the Chemicals industry in Taiwan. Total returns to shareholders of 33% over the past three years.
Reported Earnings • Aug 18Second quarter 2021 earnings released: EPS NT$0.16 (vs NT$0.033 loss in 2Q 2020)The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: NT$376.7m (up 41% from 2Q 2020). Net income: NT$10.9m (up NT$13.2m from 2Q 2020). Profit margin: 2.9% (up from net loss in 2Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has remained flat, which means it is significantly lagging earnings.
Valuation Update With 7 Day Price Move • Aug 18Investor sentiment improved over the past weekAfter last week's 16% share price gain to NT$20.65, the stock trades at a trailing P/E ratio of 25.4x. Average trailing P/E is 17x in the Chemicals industry in Taiwan. Total returns to shareholders of 21% over the past three years.
Upcoming Dividend • Aug 18Upcoming dividend of NT$1.00 per shareEligible shareholders must have bought the stock before 25 August 2021. Payment date: 17 September 2021. Trailing yield: 4.8%. Lower than top quartile of Taiwanese dividend payers (5.3%). Higher than average of industry peers (2.9%).
Reported Earnings • May 18First quarter 2021 earnings released: EPS NT$0.30 (vs NT$0.14 in 1Q 2020)The company reported a decent first quarter result with improved earnings and profit margins, although revenues were weaker. First quarter 2021 results: Revenue: NT$373.9m (down 1.0% from 1Q 2020). Net income: NT$21.0m (up 117% from 1Q 2020). Profit margin: 5.6% (up from 2.6% in 1Q 2020). Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings.
分析記事 • Apr 28Does Headway Advanced Materials (TPE:1776) Have A Healthy Balance Sheet?Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...
分析記事 • Apr 02Headway Advanced Materials (TPE:1776) Could Be Struggling To Allocate CapitalWhat underlying fundamental trends can indicate that a company might be in decline? When we see a declining return on...
Reported Earnings • Apr 01Full year 2020 earnings released: EPS NT$0.65 (vs NT$0.86 in FY 2019)The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$1.38b (down 14% from FY 2019). Net income: NT$45.2m (down 24% from FY 2019). Profit margin: 3.3% (down from 3.7% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 7% per year and the company’s share price has also fallen by 7% per year.
分析記事 • Mar 07Does Headway Advanced Materials Inc.'s (TPE:1776) Weak Fundamentals Mean A Downturn In Its Stock Should Be Expected?Headway Advanced Materials' (TPE:1776) stock up by 1.9% over the past three months. However, in this article, we...
お知らせ • Feb 23Headway Advanced Materials Inc., Annual General Meeting, May 31, 2021Headway Advanced Materials Inc., Annual General Meeting, May 31, 2021.
分析記事 • Jan 27We Think Headway Advanced Materials (TPE:1776) Can Stay On Top Of Its DebtHoward Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...
分析記事 • Jan 01Is Headway Advanced Materials (TPE:1776) Using Capital Effectively?When researching a stock for investment, what can tell us that the company is in decline? More often than not, we'll...
Is New 90 Day High Low • Dec 21New 90-day high: NT$16.70The company is up 7.0% from its price of NT$15.55 on 22 September 2020. The Taiwanese market is up 11% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 8.0% over the same period.
分析記事 • Dec 06Headway Advanced Materials Inc.'s (TPE:1776) Financial Prospects Don't Look Very Positive: Could It Mean A Stock Price Drop In The Future?Most readers would already know that Headway Advanced Materials' (TPE:1776) stock increased by 2.3% over the past...
Reported Earnings • Nov 14Third quarter 2020 earnings released: EPS NT$0.24The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2020 results: Revenue: NT$333.2m (down 12% from 3Q 2019). Net income: NT$16.6m (up 26% from 3Q 2019). Profit margin: 5.0% (up from 3.5% in 3Q 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings.
Is New 90 Day High Low • Sep 21New 90-day low: NT$15.50The company is down 8.0% from its price of NT$16.90 on 23 June 2020. The Taiwanese market is up 11% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is flat over the same period.