View Financial HealthRuentex DevelopmentLtd 配当と自社株買い配当金 基準チェック /36Ruentex DevelopmentLtd配当を支払う会社であり、現在の利回りは3.74%で、収益によって十分にカバーされています。主要情報3.7%配当利回りn/aバイバック利回り総株主利回りn/a将来の配当利回りn/a配当成長3.2%次回配当支払日n/a配当落ち日n/a一株当たり配当金n/a配当性向20%最近の配当と自社株買いの更新Declared Dividend • Jun 24Dividend of NT$1.10 announcedDividend of NT$1.10 is the same as last year. Ex-date: 7th July 2026 Payment date: 31st July 2026 Dividend yield will be 4.1%, which is higher than the industry average of 3.7%. Sustainability & Growth Dividend is well covered by both earnings (20% earnings payout ratio) and cash flows (48% cash payout ratio). The dividend has decreased over the past 86 years, indicating a lack of growth and stability in payments. Earnings per share has grown by 9.7% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover.Declared Dividend • Jun 25Dividend of NT$1.10 announcedShareholders will receive a dividend of NT$1.10. Ex-date: 9th July 2025 Payment date: 31st July 2025 Dividend yield will be 3.6%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by both earnings (23% earnings payout ratio) and cash flows (84% 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 5.4% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover.Upcoming Dividend • Jul 09Upcoming dividend of NT$1.50 per shareEligible shareholders must have bought the stock before 16 July 2024. Payment date: 08 August 2024. Trailing yield: 3.4%. Lower than top quartile of Taiwanese dividend payers (4.2%). Higher than average of industry peers (2.7%).Upcoming Dividend • Sep 07Upcoming dividend of NT$1.00 per shareEligible shareholders must have bought the stock before 14 September 2023. Payment date: 02 October 2023. The company last paid an ordinary dividend in March 2013. The average dividend yield among industry peers is 4.4%.Upcoming Dividend • Aug 05Upcoming dividend of NT$2.00 per shareEligible shareholders must have bought the stock before 12 August 2022. Payment date: 08 September 2022. Payout ratio is a comfortable 29% and this is well supported by cash flows. Trailing yield: 3.5%. Lower than top quartile of Taiwanese dividend payers (6.7%). Lower than average of industry peers (6.4%).お知らせ • Jun 16Ruentex Development Co.,Ltd. Approves Cash DividendRuentex Development Co.,Ltd. at the shareholders meeting held on June 15, 2022 approved cash dividend of TWD 2 per share.すべての更新を表示Recent updatesReported Earnings • Aug 14Second quarter 2026 earnings released: EPS: NT$2.72 (vs NT$0.48 in 2Q 2025)Second quarter 2026 results: EPS: NT$2.72 (up from NT$0.48 in 2Q 2025). Revenue: NT$13.7b (up 52% from 2Q 2025). Net income: NT$7.38b (up 463% from 2Q 2025). Profit margin: 54% (up from 14% in 2Q 2025). The increase in margin was primarily 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 7% per year, which means it is significantly lagging earnings.Declared Dividend • Jun 24Dividend of NT$1.10 announcedDividend of NT$1.10 is the same as last year. Ex-date: 7th July 2026 Payment date: 31st July 2026 Dividend yield will be 4.1%, which is higher than the industry average of 3.7%. Sustainability & Growth Dividend is well covered by both earnings (20% earnings payout ratio) and cash flows (48% cash payout ratio). The dividend has decreased over the past 86 years, indicating a lack of growth and stability in payments. Earnings per share has grown by 9.7% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover.New Risk • Jun 13New major risk - Financial positionThe company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 11% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (11% operating cash flow to total debt). Earnings have declined by 9.1% per year over the past 5 years. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past.Reported Earnings • May 16First quarter 2026 earnings released: EPS: NT$0.95 (vs NT$1.24 in 1Q 2025)First quarter 2026 results: EPS: NT$0.95 (down from NT$1.24 in 1Q 2025). Revenue: NT$8.80b (up 26% from 1Q 2025). Net income: NT$2.71b (down 20% from 1Q 2025). Profit margin: 31% (down from 48% in 1Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings.Buy Or Sell Opportunity • Apr 23Now 20% undervalued after recent price dropOver the last 90 days, the stock has fallen 17% to NT$24.35. The fair value is estimated to be NT$30.47, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.4% over the last 3 years. Earnings per share has grown by 21%.Buy Or Sell Opportunity • Apr 07Now 20% undervalued after recent price dropOver the last 90 days, the stock has fallen 16% to NT$25.20. The fair value is estimated to be NT$31.59, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.4% over the last 3 years. Earnings per share has grown by 21%.Buy Or Sell Opportunity • Mar 23Now 21% undervalued after recent price dropOver the last 90 days, the stock has fallen 18% to NT$25.00. The fair value is estimated to be NT$31.75, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.4% over the last 3 years. Earnings per share has grown by 21%.New Risk • Mar 14New minor risk - Profit margin trendThe company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 27% Last year net profit margin: 52% 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 Risks Debt is not well covered by operating cash flow (11% operating cash flow to total debt). Earnings have declined by 4.1% 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. Profit margins are more than 30% lower than last year (27% net profit margin).Reported Earnings • Mar 14Full year 2025 earnings released: EPS: NT$3.93 (vs NT$6.07 in FY 2024)Full year 2025 results: EPS: NT$3.93 (down from NT$6.07 in FY 2024). Revenue: NT$39.3b (up 24% from FY 2024). Net income: NT$10.7b (down 35% from FY 2024). Profit margin: 27% (down from 52% in FY 2024). The decrease in margin was driven by higher expenses. 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 12% per year, which means it is significantly lagging earnings.お知らせ • Feb 11Ruentex Development Co.,Ltd., Annual General Meeting, May 20, 2026Ruentex Development Co.,Ltd., Annual General Meeting, May 20, 2026. Location: 3 floor no,260, sec.2 pa to rd., taipei city TaiwanReported Earnings • Nov 15Third quarter 2025 earnings released: EPS: NT$0.96 (vs NT$1.30 in 3Q 2024)Third quarter 2025 results: EPS: NT$0.96 (down from NT$1.30 in 3Q 2024). Revenue: NT$9.10b (up 6.0% from 3Q 2024). Net income: NT$2.63b (down 26% from 3Q 2024). Profit margin: 29% (down from 41% in 3Q 2024). Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings.Reported Earnings • Aug 16Second quarter 2025 earnings released: EPS: NT$0.48 (vs NT$1.54 in 2Q 2024)Second quarter 2025 results: EPS: NT$0.48 (down from NT$1.54 in 2Q 2024). Revenue: NT$9.03b (up 22% from 2Q 2024). Net income: NT$1.31b (down 69% from 2Q 2024). Profit margin: 14% (down from 57% in 2Q 2024). Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings.Declared Dividend • Jun 25Dividend of NT$1.10 announcedShareholders will receive a dividend of NT$1.10. Ex-date: 9th July 2025 Payment date: 31st July 2025 Dividend yield will be 3.6%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by both earnings (23% earnings payout ratio) and cash flows (84% 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 5.4% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover.お知らせ • May 24Ruentex Development Co.,Ltd. Approves the By-Election of Chen, Su-Huei and Lu, Yu-Mei as the DirectorsRuentex Development Co. Ltd. held its regular shareholders meeting on May 23, 2025. Important resolutions included the approval of the by-election of the Company's directors. The list of persons elected as directors are Chen, Su-Huei and Lu, Yu-Mei.Reported Earnings • May 15First quarter 2025 earnings released: EPS: NT$1.24 (vs NT$2.47 in 1Q 2024)First quarter 2025 results: EPS: NT$1.24 (down from NT$2.47 in 1Q 2024). Revenue: NT$7.02b (flat on 1Q 2024). Net income: NT$3.38b (down 50% from 1Q 2024). Profit margin: 48% (down from 96% in 1Q 2024). Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings.Valuation Update With 7 Day Price Move • Apr 09Investor sentiment deteriorates as stock falls 18%After last week's 18% share price decline to NT$29.15, the stock trades at a trailing P/E ratio of 5x. Average trailing P/E is 11x in the Real Estate industry in Taiwan. Total loss to shareholders of 42% over the past three years.お知らせ • Apr 01Ruentex Development Co.,Ltd. Announces Institutional Director Changes, Effective May 22, 2025Ruentex Development Co.,Ltd. announced change of juristic-person representative director and change in one-third or more of directors. Elected or changed position (Please enter institutional director, institutional supervisor, independent director, natural-person director or natural-person supervisor):institutional director. Title and name of the previous position holder: Ruentex Industries Ltd. Respresentive: Yin,Chung-Yao; and Yingjia Investment Co. Ltd. Respresentive: Ho,Kai-Lin. Title and name of the new position holder: Ruentex Industries Ltd. Respresentive: Huang,Ming-Duan; and Yingjia Investment Co. Ltd. Respresentive: Yin,Chung-Yao. Resume of the new position holder: Huang,Ming-Duan,Chairperson of Sun Art Retail Group Limited; and Yin,Chung-Yao,Chairperson of Nan Shan Life Insurance Co. Ltd. Effective date of the new appointment: May 22, 2025.Reported Earnings • Mar 15Full year 2024 earnings released: EPS: NT$6.07 (vs NT$2.65 in FY 2023)Full year 2024 results: EPS: NT$6.07 (up from NT$2.65 in FY 2023). Revenue: NT$31.8b (up 16% from FY 2023). Net income: NT$16.6b (up 114% from FY 2023). Profit margin: 52% (up from 28% in FY 2023). The increase in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 8% per year whereas the company’s share price has fallen by 11% per year.お知らせ • Mar 04Ruentex Development Co.,Ltd. Announces Institutional Directors Resignations, Effective May 22, 2025Ruentex Development Co.,Ltd. announced change in representative of the company’s institutional director. Title and name of the previous position holder: Ruentex Xing Co. Ltd. Respresentives: Lee,Chih-Hung and Chen,Li-Yu. Resume of the previous position holder: Lee, Chih-Hung, Chairperson of Ruentex Engineering & Construction Co. Ltd. Chen, Li-Yu, Director and vice president of Ruentex Development Co. Ltd. Reason for the change: Resignation. The company received the letter of resignation on March 23, 2025, and the effective date of resignation is May 22, 2025.お知らせ • Feb 21Ruentex Development Co.,Ltd., Annual General Meeting, May 23, 2025Ruentex Development Co.,Ltd., Annual General Meeting, May 23, 2025. Location: 3 floor no,260, sec.2 pa to rd., taipei city Taiwanお知らせ • Feb 08Ruentex Development Co.,Ltd. to Report Q4, 2024 Results on Mar 12, 2025Ruentex Development Co.,Ltd. announced that they will report Q4, 2024 results on Mar 12, 2025分析記事 • Jan 07Earnings Working Against Ruentex Development Co.,Ltd.'s (TWSE:9945) Share PriceRuentex Development Co.,Ltd.'s ( TWSE:9945 ) price-to-earnings (or "P/E") ratio of 10.6x might make it look like a buy...お知らせ • Jan 02Ruentex Development Co.,Ltd. Announces Establishment of Sustainability Development CommitteeRuentex Development Co.,Ltd. announced the establishment of Sustainability Development Committee. Name of the new position holder: Ko, Shun-Hsiung (Independent Director of the Company). Chang, Guo-Zhen (Independent Director of the Company). Hsieh, Shang-Hsien (Independent Director of the Company). Resume of the new position holder: Ko, Shun-Hsiung MA, Department of Finance, National Taiwan University Accountant, Chien Ta Accounting Firm Independent Director of Nishoku Technology Inc. Independent Director of Silergy Corporation. Chang, Guo-Zhen PhD, Civil Engineering, State Univ.of NY at Buffalo Professor, Department of Civil Engineering, National Taiwan University Director, National Center for Research on Earthquake Engineering, National Applied Research Laboratories. Hsieh, Shang-Hsien PhD and MS in Civil and Environmental Engineering, Cornell University Professor, Department of Civil Engineering, National Taiwan University Director and Chair of the International Society for Computing in Civil and Building Engineering. Reason for the change: new appointment. Effective date of the new member: December 31, 2024.New Risk • Dec 16New major risk - Financial data availabilityThe company has not reported any financial data. This is considered a major risk. With no or incomplete audited reported financial data, it is virtually impossible to assess the company's investment potential. Currently, the following risks have been identified for the company: Major Risk No financial data reported. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past.分析記事 • Dec 13Is Ruentex DevelopmentLtd (TWSE:9945) A Risky Investment?Warren Buffett famously said, 'Volatility is far from synonymous with risk.' It's only natural to consider a company's...分析記事 • Nov 21Ruentex DevelopmentLtd's (TWSE:9945) Solid Profits Have Weak FundamentalsRuentex Development Co.,Ltd. ( TWSE:9945 ) announced strong profits, but the stock was stagnant. Our analysis suggests...Reported Earnings • Nov 16Third quarter 2024 earnings released: EPS: NT$1.30 (vs NT$2.10 in 3Q 2023)Third quarter 2024 results: EPS: NT$1.30 (down from NT$2.10 in 3Q 2023). Revenue: NT$8.59b (up 61% from 3Q 2023). Net income: NT$3.56b (down 41% from 3Q 2023). Profit margin: 41% (down from 113% in 3Q 2023). Over the last 3 years on average, earnings per share has fallen by 20% 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.お知らせ • Oct 26Ruentex Development Co.,Ltd. to Report Q3, 2024 Results on Nov 12, 2024Ruentex Development Co.,Ltd. announced that they will report Q3, 2024 results on Nov 12, 2024分析記事 • Sep 27Ruentex Development Co.,Ltd.'s (TWSE:9945) Low P/E No Reason For ExcitementWith a price-to-earnings (or "P/E") ratio of 9.9x Ruentex Development Co.,Ltd. ( TWSE:9945 ) may be sending very...分析記事 • Sep 05Does Ruentex DevelopmentLtd (TWSE:9945) Have A Healthy Balance Sheet?Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...New Risk • Aug 17New minor risk - Earnings qualityThe company has large one-off items impacting its financial results. One-off items were 41% 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: Minor Risks Dividend is not well covered by cash flows (248% cash payout ratio). Large one-off items impacting financial results.Reported Earnings • Aug 14Second quarter 2024 earnings released: EPS: NT$1.54 (vs NT$1.69 in 2Q 2023)Second quarter 2024 results: EPS: NT$1.54 (down from NT$1.69 in 2Q 2023). Revenue: NT$7.43b (up 5.6% from 2Q 2023). Net income: NT$4.21b (down 8.5% from 2Q 2023). Profit margin: 57% (down from 65% in 2Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings.お知らせ • Jul 27Ruentex Development Co.,Ltd. to Report Q2, 2024 Results on Aug 13, 2024Ruentex Development Co.,Ltd. announced that they will report Q2, 2024 results on Aug 13, 2024New Risk • Jul 23New 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 6.5% 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: Minor Risks Dividend is not well covered by cash flows (248% cash payout ratio). Share price has been volatile over the past 3 months (6.5% average weekly change). Large one-off items impacting financial results.Upcoming Dividend • Jul 09Upcoming dividend of NT$1.50 per shareEligible shareholders must have bought the stock before 16 July 2024. Payment date: 08 August 2024. Trailing yield: 3.4%. Lower than top quartile of Taiwanese dividend payers (4.2%). Higher than average of industry peers (2.7%).New Risk • May 18New minor risk - Earnings qualityThe company has large one-off items impacting its financial results. One-off items were 33% 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: Minor Risks Dividend is not well covered by cash flows (248% cash payout ratio). Large one-off items impacting financial results.Reported Earnings • May 16First quarter 2024 earnings released: EPS: NT$2.46 (vs NT$0.11 in 1Q 2023)First quarter 2024 results: EPS: NT$2.46 (up from NT$0.11 in 1Q 2023). Revenue: NT$7.00b (up 11% from 1Q 2023). Net income: NT$6.73b (up NT$6.42b from 1Q 2023). Profit margin: 96% (up from 4.9% in 1Q 2023). The increase in margin was primarily driven by lower expenses. 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 20% per year, which means it is well ahead of earnings.分析記事 • May 07Insufficient Growth At Ruentex Development Co.,Ltd. (TWSE:9945) Hampers Share PriceWhen close to half the companies in Taiwan have price-to-earnings ratios (or "P/E's") above 24x, you may consider...お知らせ • Apr 28Ruentex Development Co.,Ltd. to Report Q1, 2024 Results on May 13, 2024Ruentex Development Co.,Ltd. announced that they will report Q1, 2024 results on May 13, 2024分析記事 • Apr 16Does Ruentex DevelopmentLtd (TWSE:9945) 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 • Mar 23Ruentex DevelopmentLtd's (TWSE:9945) Soft Earnings Are Actually Better Than They AppearShareholders appeared unconcerned with Ruentex Development Co.,Ltd.'s ( TWSE:9945 ) lackluster earnings report last...Reported Earnings • Mar 16Full year 2023 earnings released: EPS: NT$2.65 (vs NT$3.33 in FY 2022)Full year 2023 results: EPS: NT$2.65 (down from NT$3.33 in FY 2022). Revenue: NT$27.4b (down 15% from FY 2022). Net income: NT$7.74b (down 15% from FY 2022). Profit margin: 28% (in line with FY 2022). 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 14% per year, which means it is well ahead of earnings.お知らせ • Mar 15Ruentex Development Co.,Ltd., Annual General Meeting, May 29, 2024Ruentex Development Co.,Ltd., Annual General Meeting, May 29, 2024.New Risk • Nov 18New major risk - Financial positionThe company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 6.3% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (6.3% operating cash flow to total debt). Earnings have declined by 2.3% per year over the past 5 years. Minor Risks Dividend is not well covered by cash flows (125% cash payout ratio). Profit margins are more than 30% lower than last year (20% net profit margin).Reported Earnings • Nov 14Third quarter 2023 earnings released: EPS: NT$2.10 (vs NT$1.63 in 3Q 2022)Third quarter 2023 results: EPS: NT$2.10 (up from NT$1.63 in 3Q 2022). Revenue: NT$5.35b (down 31% from 3Q 2022). Net income: NT$6.04b (up 35% from 3Q 2022). Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has increased by 18% per year, which means it is well ahead of earnings.Upcoming Dividend • Sep 07Upcoming dividend of NT$1.00 per shareEligible shareholders must have bought the stock before 14 September 2023. Payment date: 02 October 2023. The company last paid an ordinary dividend in March 2013. The average dividend yield among industry peers is 4.4%.New Risk • Aug 28New major risk - Financial positionThe company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 15% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (15% operating cash flow to total debt). Earnings have declined by 2.3% per year over the past 5 years. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (14% net profit margin).New Risk • Aug 13New major risk - Revenue and earnings growthEarnings have declined by 2.5% 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 2.5% per year over the past 5 years. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (14% net profit margin).Reported Earnings • Aug 12Second quarter 2023 earnings released: EPS: NT$1.52 (vs NT$1.92 in 2Q 2022)Second quarter 2023 results: EPS: NT$1.52 (down from NT$1.92 in 2Q 2022). Revenue: NT$7.03b (down 8.0% from 2Q 2022). Net income: NT$4.60b (down 21% from 2Q 2022). Profit margin: 65% (down from 77% in 2Q 2022). Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 28% per year, which means it is well ahead of earnings.お知らせ • Jul 01Ruentex Development Co.,Ltd. Announces Remuneration Committee ChangesRuentex Development Co.,Ltd. announced the members of the company’s 5th remuneration committee. Name of the previous position holder: Ko, Shun-Hsiung, Accountant of Chien-Ta accountant firm; Chang, Guo-Zhen, Professor of Department of Civil Engineering of NTU; Zhao, Yi-Long, Professor of Department of International Business of NTU. Name of the new position holder: Ko, Shun-Hsiung, Chang, Guo-Zhen and Hsieh, Shang-Hsien. Resume of the new position holder: Ko,Shun-Hsiung, Accountant of Chien-Ta accountant firm; Chang, Guo-Zhen, Professor of Department of Civil Engineering of NTU, Hsieh, Shang-Hsien, Professor of Department of Civil Engineering of NTU. Effective date of the new member is June 30, 2023.New Risk • Jun 30New major risk - Financial positionThe company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 9.2% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (9.2% operating cash flow to total debt). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (17% net profit margin).お知らせ • Jun 11Ruentex Development Co.,Ltd. Announces Audit Committee ChangesRuentex Development Co.,Ltd. announced the members of the company’s 4th Audit Committee. Name of the previous position holder: Zhao, Yi-Long. Resume of the previous position holder: Zhao, Yi-Long,Professor of Department of International Business of NTU. Name of the new position holder: Hsieh, Shang-Hsien. Resume of the new position holder: Hsieh, Shang-Hsien, Professor of Department of Civil Engineering of NTU. Reason for the change: term expired. Effective date of the new member: June 9, 2023. Date of occurrence of the change: June 9, 2023.Reported Earnings • Mar 17Full year 2022 earnings released: EPS: NT$3.00 (vs NT$5.32 in FY 2021)Full year 2022 results: EPS: NT$3.00 (down from NT$5.32 in FY 2021). Revenue: NT$32.2b (up 18% from FY 2021). Net income: NT$9.16b (down 44% from FY 2021). Profit margin: 28% (down from 60% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has increased by 54% per year, which means it is tracking significantly ahead of earnings growth.Valuation Update With 7 Day Price Move • Mar 16Investor sentiment deteriorates as stock falls 18%After last week's 18% share price decline to NT$36.25, the stock trades at a trailing P/E ratio of 7.4x. Average trailing P/E is 14x in the Real Estate industry in Taiwan. Total returns to shareholders of 305% over the past three years.お知らせ • Dec 28Ruentex Development Co.,Ltd. Appoints Chang,Wen-Jen as Chief Information Security OfficerRuentex Development Co.,Ltd. appointed CHANG,WEN-JEN Vice President of General Management Office as Chief Information Security Officer, effective December 27, 2022.Reported Earnings • Nov 16Third quarter 2022 earnings released: EPS: NT$1.47 (vs NT$1.34 in 3Q 2021)Third quarter 2022 results: EPS: NT$1.47 (up from NT$1.34 in 3Q 2021). Revenue: NT$7.80b (down 7.9% from 3Q 2021). Net income: NT$4.49b (up 9.4% from 3Q 2021). Profit margin: 58% (up from 49% in 3Q 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has increased by 44% per year, which means it is tracking significantly ahead of earnings growth.Board Change • Nov 16Less than half of directors are independentThere is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 2 experienced directors. 9 highly experienced directors. 3 independent directors (6 non-independent directors). Independent Director Kuo-Chen Chang was the last independent director to join the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.Reported Earnings • Nov 13Third quarter 2022 earnings released: EPS: NT$1.47 (vs NT$1.34 in 3Q 2021)Third quarter 2022 results: EPS: NT$1.47 (up from NT$1.34 in 3Q 2021). Revenue: NT$7.80b (down 7.9% from 3Q 2021). Net income: NT$4.49b (up 9.4% from 3Q 2021). Profit margin: 58% (up from 49% in 3Q 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has increased by 43% per year, which means it is tracking significantly ahead of earnings growth.Reported Earnings • Aug 15Second quarter 2022 earnings released: EPS: NT$2.87 (vs NT$1.86 in 2Q 2021)Second quarter 2022 results: EPS: NT$2.87 (up from NT$1.86 in 2Q 2021). Revenue: NT$7.65b (up 20% from 2Q 2021). Net income: NT$5.85b (up 55% from 2Q 2021). Profit margin: 77% (up from 60% in 2Q 2021). The increase in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has increased by 47% per year, which means it is tracking significantly ahead of earnings growth.Upcoming Dividend • Aug 05Upcoming dividend of NT$2.00 per shareEligible shareholders must have bought the stock before 12 August 2022. Payment date: 08 September 2022. Payout ratio is a comfortable 29% and this is well supported by cash flows. Trailing yield: 3.5%. Lower than top quartile of Taiwanese dividend payers (6.7%). Lower than average of industry peers (6.4%).Valuation Update With 7 Day Price Move • Jul 21Investor sentiment deteriorated over the past weekAfter last week's 17% share price decline to NT$59.20, the stock trades at a trailing P/E ratio of 8.9x. Average trailing P/E is 12x in the Real Estate industry in Taiwan. Total returns to shareholders of 208% over the past three years.お知らせ • Jun 16Ruentex Development Co.,Ltd. Approves Cash DividendRuentex Development Co.,Ltd. at the shareholders meeting held on June 15, 2022 approved cash dividend of TWD 2 per share.Reported Earnings • May 16First quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behindFirst quarter 2022 results: EPS: NT$2.15 (down from NT$3.25 in 1Q 2021). Revenue: NT$6.29b (up 20% from 1Q 2021). Net income: NT$4.37b (down 34% from 1Q 2021). Profit margin: 70% (down from 126% in 1Q 2021). The decrease in margin was primarily driven by lower expenses. Revenue missed analyst estimates by 12%. Earnings per share (EPS) exceeded analyst estimates by 30%. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has increased by 54% per year, which means it is tracking significantly ahead of earnings growth.Buying Opportunity • May 06Now 20% undervaluedOver the last 90 days, the stock is up 20%. The fair value is estimated to be NT$95.62, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 20% over the last 3 years. Earnings per share has grown by 28%.Board Change • Apr 27Less than half of directors are independentThere is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 4 experienced directors. 7 highly experienced directors. 3 independent directors (6 non-independent directors). Independent Director Kuo-Chen Chang was the last independent director to join the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.Buying Opportunity • Apr 12Now 22% undervaluedOver the last 90 days, the stock is up 10%. The fair value is estimated to be NT$93.42, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 20% over the last 3 years. Earnings per share has grown by 28%.Reported Earnings • Mar 17Full year 2021 earnings: EPS exceeds analyst expectations while revenues lag behindFull year 2021 results: EPS: NT$7.98 (up from NT$4.20 in FY 2020). Revenue: NT$27.3b (up 43% from FY 2020). Net income: NT$16.2b (up 90% from FY 2020). Profit margin: 60% (up from 45% in FY 2020). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 12%. Earnings per share (EPS) exceeded analyst estimates by 30%. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has increased by 45% per year, which means it is tracking significantly ahead of earnings growth.Reported Earnings • Nov 15Third quarter 2021 earnings released: EPS NT$2.02 (vs NT$1.85 in 3Q 2020)The company reported a solid third quarter result with improved earnings and revenues, although profit margins were weaker. Third quarter 2021 results: Revenue: NT$8.47b (up 63% from 3Q 2020). Net income: NT$4.11b (up 9.0% from 3Q 2020). Profit margin: 49% (down from 73% 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 17% per year but the company’s share price has increased by 45% per year, which means it is tracking significantly ahead of earnings growth.Valuation Update With 7 Day Price Move • Oct 26Investor sentiment improved over the past weekAfter last week's 18% share price gain to NT$67.20, the stock trades at a trailing P/E ratio of 9.7x. Average trailing P/E is 12x in the Real Estate industry in Taiwan. Total returns to shareholders of 264% over the past three years.Valuation Update With 7 Day Price Move • Sep 10Investor sentiment improved over the past weekAfter last week's 16% share price gain to NT$81.20, the stock trades at a trailing P/E ratio of 8.1x. Average trailing P/E is 11x in the Real Estate industry in Taiwan. Total returns to shareholders of 154% over the past three years.Reported Earnings • Aug 18Second quarter 2021 earnings released: EPS NT$2.60 (vs NT$1.01 in 2Q 2020)The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: NT$6.35b (up 69% from 2Q 2020). Net income: NT$3.78b (up 157% from 2Q 2020). Profit margin: 60% (up from 39% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 19% per year, which means it is tracking significantly ahead of earnings growth.お知らせ • Aug 13An unknown buyer acquired Ruentex Construction & Develop from Ruentex Development Co.,Ltd. (TWSE:9945) for TWD 3.6 billion.An unknown buyer acquired Ruentex Construction & Develop from Ruentex Development Co.,Ltd. (TWSE:9945) for TWD 3.6 billion on August 12, 2021. Terms of delivery or payment was Wire transfer. Board of Directors are the decision making party for the deal. An unknown buyer completed the acquisition of Ruentex Construction & Develop from Ruentex Development Co.,Ltd. (TWSE:9945) on August 12, 2021.Upcoming Dividend • Jul 19Upcoming dividend of NT$1.00 per shareEligible shareholders must have bought the stock before 26 July 2021. Payment date: 12 August 2021. Trailing yield: 1.5%. Lower than top quartile of Taiwanese dividend payers (4.9%). Lower than average of industry peers (4.7%).Valuation Update With 7 Day Price Move • Jul 12Investor sentiment improved over the past weekAfter last week's 15% share price gain to NT$65.40, the stock trades at a trailing P/E ratio of 7.8x. Average trailing P/E is 12x in the Real Estate industry in Taiwan. Total returns to shareholders of 115% over the past three years.Reported Earnings • May 15First quarter 2021 earnings released: EPS NT$4.56 (vs NT$2.03 in 1Q 2020)First quarter 2021 results: Revenue: NT$5.24b (up 36% from 1Q 2020). Net income: NT$6.63b (up 124% from 1Q 2020). Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings.分析記事 • Apr 07Here's Why Ruentex DevelopmentLtd (TPE:9945) Has A Meaningful Debt BurdenThe external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...Reported Earnings • Mar 27Full year 2020 earnings released: EPS NT$5.88 (vs NT$6.23 in FY 2019)The company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2020 results: Revenue: NT$19.1b (up 11% from FY 2019). Net income: NT$8.56b (down 5.6% from FY 2019). Profit margin: 45% (down from 53% in FY 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings.Is New 90 Day High Low • Mar 03New 90-day high: NT$42.05The company is up 1.0% from its price of NT$41.45 on 03 December 2020. The Taiwanese market is up 13% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Real Estate industry, which is flat over the same period.Is New 90 Day High Low • Jan 28New 90-day low: NT$39.25The company is down 1.0% from its price of NT$39.50 on 30 October 2020. The Taiwanese market is up 23% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Real Estate industry, which is up 1.0% over the same period.分析記事 • Dec 24We Think Ruentex DevelopmentLtd (TPE:9945) Is Taking Some Risk With Its DebtSome say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...分析記事 • Nov 19If You Had Bought Ruentex DevelopmentLtd (TPE:9945) Stock A Year Ago, You Could Pocket A 31% Gain TodayThese days it's easy to simply buy an index fund, and your returns should (roughly) match the market. But if you pick...Reported Earnings • Nov 14Third quarter 2020 earnings released: EPS NT$2.59The company reported a soft third quarter result with weaker earnings and profit margins, although revenues were improved. Third quarter 2020 results: Revenue: NT$5.18b (up 17% from 3Q 2019). Net income: NT$3.77b (down 13% from 3Q 2019). Profit margin: 73% (down from 98% in 3Q 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings.決済の安定と成長配当データの取得安定した配当: 9945は 10 年未満配当金を支払っており、この間、支払額は 変動性 が高かった。増加する配当: 9945は8年間のみ配当金を支払っており、それ以降は支払額が減少しています。配当利回り対市場Ruentex DevelopmentLtd 配当利回り対市場9945 配当利回りは市場と比べてどうか？セグメント配当利回り会社 (9945)3.7%市場下位25% (TW)1.5%市場トップ25% (TW)5.1%業界平均 (Real Estate)5.6%アナリスト予想 (9945) (最長3年)n/a注目すべき配当: 9945の配当金 ( 3.74% ) はTW市場の配当金支払者の下位 25% ( 1.52% ) よりも高くなっています。高配当: 9945の配当金 ( 3.74% ) はTW市場の配当金支払者の上位 25% ( 5.07% ) と比較すると低いです。株主への利益配当収益カバレッジ: 9945は低い 配当性向 ( 20.1% ) であるため、配当金の支払いは利益によって十分にカバーされます。株主配当金キャッシュフローカバレッジ: 9945の 現金配当性向 ( 31.9% ) は比較的低く、配当金の支払いはキャッシュフローによって十分にカバーされています。高配当企業の発掘7D1Y7D1Y7D1YTW 市場の強力な配当支払い企業。View Management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2026/08/23 18:50終値2026/08/21 00:00収益2026/06/30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この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、レポートの活用方法に関するガイドやYouTubeのチュートリアルも用意しています。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Ruentex Development Co.,Ltd. 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。6 アナリスト機関Xiu Lian WuCapital Securities Corporationnull nullCapital Securities CorporationLinda HuangMacquarie Research3 その他のアナリストを表示
Declared Dividend • Jun 24Dividend of NT$1.10 announcedDividend of NT$1.10 is the same as last year. Ex-date: 7th July 2026 Payment date: 31st July 2026 Dividend yield will be 4.1%, which is higher than the industry average of 3.7%. Sustainability & Growth Dividend is well covered by both earnings (20% earnings payout ratio) and cash flows (48% cash payout ratio). The dividend has decreased over the past 86 years, indicating a lack of growth and stability in payments. Earnings per share has grown by 9.7% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover.
Declared Dividend • Jun 25Dividend of NT$1.10 announcedShareholders will receive a dividend of NT$1.10. Ex-date: 9th July 2025 Payment date: 31st July 2025 Dividend yield will be 3.6%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by both earnings (23% earnings payout ratio) and cash flows (84% 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 5.4% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover.
Upcoming Dividend • Jul 09Upcoming dividend of NT$1.50 per shareEligible shareholders must have bought the stock before 16 July 2024. Payment date: 08 August 2024. Trailing yield: 3.4%. Lower than top quartile of Taiwanese dividend payers (4.2%). Higher than average of industry peers (2.7%).
Upcoming Dividend • Sep 07Upcoming dividend of NT$1.00 per shareEligible shareholders must have bought the stock before 14 September 2023. Payment date: 02 October 2023. The company last paid an ordinary dividend in March 2013. The average dividend yield among industry peers is 4.4%.
Upcoming Dividend • Aug 05Upcoming dividend of NT$2.00 per shareEligible shareholders must have bought the stock before 12 August 2022. Payment date: 08 September 2022. Payout ratio is a comfortable 29% and this is well supported by cash flows. Trailing yield: 3.5%. Lower than top quartile of Taiwanese dividend payers (6.7%). Lower than average of industry peers (6.4%).
お知らせ • Jun 16Ruentex Development Co.,Ltd. Approves Cash DividendRuentex Development Co.,Ltd. at the shareholders meeting held on June 15, 2022 approved cash dividend of TWD 2 per share.
Reported Earnings • Aug 14Second quarter 2026 earnings released: EPS: NT$2.72 (vs NT$0.48 in 2Q 2025)Second quarter 2026 results: EPS: NT$2.72 (up from NT$0.48 in 2Q 2025). Revenue: NT$13.7b (up 52% from 2Q 2025). Net income: NT$7.38b (up 463% from 2Q 2025). Profit margin: 54% (up from 14% in 2Q 2025). The increase in margin was primarily 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 7% per year, which means it is significantly lagging earnings.
Declared Dividend • Jun 24Dividend of NT$1.10 announcedDividend of NT$1.10 is the same as last year. Ex-date: 7th July 2026 Payment date: 31st July 2026 Dividend yield will be 4.1%, which is higher than the industry average of 3.7%. Sustainability & Growth Dividend is well covered by both earnings (20% earnings payout ratio) and cash flows (48% cash payout ratio). The dividend has decreased over the past 86 years, indicating a lack of growth and stability in payments. Earnings per share has grown by 9.7% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover.
New Risk • Jun 13New major risk - Financial positionThe company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 11% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (11% operating cash flow to total debt). Earnings have declined by 9.1% per year over the past 5 years. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past.
Reported Earnings • May 16First quarter 2026 earnings released: EPS: NT$0.95 (vs NT$1.24 in 1Q 2025)First quarter 2026 results: EPS: NT$0.95 (down from NT$1.24 in 1Q 2025). Revenue: NT$8.80b (up 26% from 1Q 2025). Net income: NT$2.71b (down 20% from 1Q 2025). Profit margin: 31% (down from 48% in 1Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings.
Buy Or Sell Opportunity • Apr 23Now 20% undervalued after recent price dropOver the last 90 days, the stock has fallen 17% to NT$24.35. The fair value is estimated to be NT$30.47, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.4% over the last 3 years. Earnings per share has grown by 21%.
Buy Or Sell Opportunity • Apr 07Now 20% undervalued after recent price dropOver the last 90 days, the stock has fallen 16% to NT$25.20. The fair value is estimated to be NT$31.59, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.4% over the last 3 years. Earnings per share has grown by 21%.
Buy Or Sell Opportunity • Mar 23Now 21% undervalued after recent price dropOver the last 90 days, the stock has fallen 18% to NT$25.00. The fair value is estimated to be NT$31.75, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.4% over the last 3 years. Earnings per share has grown by 21%.
New Risk • Mar 14New minor risk - Profit margin trendThe company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 27% Last year net profit margin: 52% 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 Risks Debt is not well covered by operating cash flow (11% operating cash flow to total debt). Earnings have declined by 4.1% 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. Profit margins are more than 30% lower than last year (27% net profit margin).
Reported Earnings • Mar 14Full year 2025 earnings released: EPS: NT$3.93 (vs NT$6.07 in FY 2024)Full year 2025 results: EPS: NT$3.93 (down from NT$6.07 in FY 2024). Revenue: NT$39.3b (up 24% from FY 2024). Net income: NT$10.7b (down 35% from FY 2024). Profit margin: 27% (down from 52% in FY 2024). The decrease in margin was driven by higher expenses. 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 12% per year, which means it is significantly lagging earnings.
お知らせ • Feb 11Ruentex Development Co.,Ltd., Annual General Meeting, May 20, 2026Ruentex Development Co.,Ltd., Annual General Meeting, May 20, 2026. Location: 3 floor no,260, sec.2 pa to rd., taipei city Taiwan
Reported Earnings • Nov 15Third quarter 2025 earnings released: EPS: NT$0.96 (vs NT$1.30 in 3Q 2024)Third quarter 2025 results: EPS: NT$0.96 (down from NT$1.30 in 3Q 2024). Revenue: NT$9.10b (up 6.0% from 3Q 2024). Net income: NT$2.63b (down 26% from 3Q 2024). Profit margin: 29% (down from 41% in 3Q 2024). Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings.
Reported Earnings • Aug 16Second quarter 2025 earnings released: EPS: NT$0.48 (vs NT$1.54 in 2Q 2024)Second quarter 2025 results: EPS: NT$0.48 (down from NT$1.54 in 2Q 2024). Revenue: NT$9.03b (up 22% from 2Q 2024). Net income: NT$1.31b (down 69% from 2Q 2024). Profit margin: 14% (down from 57% in 2Q 2024). Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings.
Declared Dividend • Jun 25Dividend of NT$1.10 announcedShareholders will receive a dividend of NT$1.10. Ex-date: 9th July 2025 Payment date: 31st July 2025 Dividend yield will be 3.6%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by both earnings (23% earnings payout ratio) and cash flows (84% 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 5.4% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover.
お知らせ • May 24Ruentex Development Co.,Ltd. Approves the By-Election of Chen, Su-Huei and Lu, Yu-Mei as the DirectorsRuentex Development Co. Ltd. held its regular shareholders meeting on May 23, 2025. Important resolutions included the approval of the by-election of the Company's directors. The list of persons elected as directors are Chen, Su-Huei and Lu, Yu-Mei.
Reported Earnings • May 15First quarter 2025 earnings released: EPS: NT$1.24 (vs NT$2.47 in 1Q 2024)First quarter 2025 results: EPS: NT$1.24 (down from NT$2.47 in 1Q 2024). Revenue: NT$7.02b (flat on 1Q 2024). Net income: NT$3.38b (down 50% from 1Q 2024). Profit margin: 48% (down from 96% in 1Q 2024). Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings.
Valuation Update With 7 Day Price Move • Apr 09Investor sentiment deteriorates as stock falls 18%After last week's 18% share price decline to NT$29.15, the stock trades at a trailing P/E ratio of 5x. Average trailing P/E is 11x in the Real Estate industry in Taiwan. Total loss to shareholders of 42% over the past three years.
お知らせ • Apr 01Ruentex Development Co.,Ltd. Announces Institutional Director Changes, Effective May 22, 2025Ruentex Development Co.,Ltd. announced change of juristic-person representative director and change in one-third or more of directors. Elected or changed position (Please enter institutional director, institutional supervisor, independent director, natural-person director or natural-person supervisor):institutional director. Title and name of the previous position holder: Ruentex Industries Ltd. Respresentive: Yin,Chung-Yao; and Yingjia Investment Co. Ltd. Respresentive: Ho,Kai-Lin. Title and name of the new position holder: Ruentex Industries Ltd. Respresentive: Huang,Ming-Duan; and Yingjia Investment Co. Ltd. Respresentive: Yin,Chung-Yao. Resume of the new position holder: Huang,Ming-Duan,Chairperson of Sun Art Retail Group Limited; and Yin,Chung-Yao,Chairperson of Nan Shan Life Insurance Co. Ltd. Effective date of the new appointment: May 22, 2025.
Reported Earnings • Mar 15Full year 2024 earnings released: EPS: NT$6.07 (vs NT$2.65 in FY 2023)Full year 2024 results: EPS: NT$6.07 (up from NT$2.65 in FY 2023). Revenue: NT$31.8b (up 16% from FY 2023). Net income: NT$16.6b (up 114% from FY 2023). Profit margin: 52% (up from 28% in FY 2023). The increase in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 8% per year whereas the company’s share price has fallen by 11% per year.
お知らせ • Mar 04Ruentex Development Co.,Ltd. Announces Institutional Directors Resignations, Effective May 22, 2025Ruentex Development Co.,Ltd. announced change in representative of the company’s institutional director. Title and name of the previous position holder: Ruentex Xing Co. Ltd. Respresentives: Lee,Chih-Hung and Chen,Li-Yu. Resume of the previous position holder: Lee, Chih-Hung, Chairperson of Ruentex Engineering & Construction Co. Ltd. Chen, Li-Yu, Director and vice president of Ruentex Development Co. Ltd. Reason for the change: Resignation. The company received the letter of resignation on March 23, 2025, and the effective date of resignation is May 22, 2025.
お知らせ • Feb 21Ruentex Development Co.,Ltd., Annual General Meeting, May 23, 2025Ruentex Development Co.,Ltd., Annual General Meeting, May 23, 2025. Location: 3 floor no,260, sec.2 pa to rd., taipei city Taiwan
お知らせ • Feb 08Ruentex Development Co.,Ltd. to Report Q4, 2024 Results on Mar 12, 2025Ruentex Development Co.,Ltd. announced that they will report Q4, 2024 results on Mar 12, 2025
分析記事 • Jan 07Earnings Working Against Ruentex Development Co.,Ltd.'s (TWSE:9945) Share PriceRuentex Development Co.,Ltd.'s ( TWSE:9945 ) price-to-earnings (or "P/E") ratio of 10.6x might make it look like a buy...
お知らせ • Jan 02Ruentex Development Co.,Ltd. Announces Establishment of Sustainability Development CommitteeRuentex Development Co.,Ltd. announced the establishment of Sustainability Development Committee. Name of the new position holder: Ko, Shun-Hsiung (Independent Director of the Company). Chang, Guo-Zhen (Independent Director of the Company). Hsieh, Shang-Hsien (Independent Director of the Company). Resume of the new position holder: Ko, Shun-Hsiung MA, Department of Finance, National Taiwan University Accountant, Chien Ta Accounting Firm Independent Director of Nishoku Technology Inc. Independent Director of Silergy Corporation. Chang, Guo-Zhen PhD, Civil Engineering, State Univ.of NY at Buffalo Professor, Department of Civil Engineering, National Taiwan University Director, National Center for Research on Earthquake Engineering, National Applied Research Laboratories. Hsieh, Shang-Hsien PhD and MS in Civil and Environmental Engineering, Cornell University Professor, Department of Civil Engineering, National Taiwan University Director and Chair of the International Society for Computing in Civil and Building Engineering. Reason for the change: new appointment. Effective date of the new member: December 31, 2024.
New Risk • Dec 16New major risk - Financial data availabilityThe company has not reported any financial data. This is considered a major risk. With no or incomplete audited reported financial data, it is virtually impossible to assess the company's investment potential. Currently, the following risks have been identified for the company: Major Risk No financial data reported. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past.
分析記事 • Dec 13Is Ruentex DevelopmentLtd (TWSE:9945) A Risky Investment?Warren Buffett famously said, 'Volatility is far from synonymous with risk.' It's only natural to consider a company's...
分析記事 • Nov 21Ruentex DevelopmentLtd's (TWSE:9945) Solid Profits Have Weak FundamentalsRuentex Development Co.,Ltd. ( TWSE:9945 ) announced strong profits, but the stock was stagnant. Our analysis suggests...
Reported Earnings • Nov 16Third quarter 2024 earnings released: EPS: NT$1.30 (vs NT$2.10 in 3Q 2023)Third quarter 2024 results: EPS: NT$1.30 (down from NT$2.10 in 3Q 2023). Revenue: NT$8.59b (up 61% from 3Q 2023). Net income: NT$3.56b (down 41% from 3Q 2023). Profit margin: 41% (down from 113% in 3Q 2023). Over the last 3 years on average, earnings per share has fallen by 20% 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.
お知らせ • Oct 26Ruentex Development Co.,Ltd. to Report Q3, 2024 Results on Nov 12, 2024Ruentex Development Co.,Ltd. announced that they will report Q3, 2024 results on Nov 12, 2024
分析記事 • Sep 27Ruentex Development Co.,Ltd.'s (TWSE:9945) Low P/E No Reason For ExcitementWith a price-to-earnings (or "P/E") ratio of 9.9x Ruentex Development Co.,Ltd. ( TWSE:9945 ) may be sending very...
分析記事 • Sep 05Does Ruentex DevelopmentLtd (TWSE:9945) Have A Healthy Balance Sheet?Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...
New Risk • Aug 17New minor risk - Earnings qualityThe company has large one-off items impacting its financial results. One-off items were 41% 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: Minor Risks Dividend is not well covered by cash flows (248% cash payout ratio). Large one-off items impacting financial results.
Reported Earnings • Aug 14Second quarter 2024 earnings released: EPS: NT$1.54 (vs NT$1.69 in 2Q 2023)Second quarter 2024 results: EPS: NT$1.54 (down from NT$1.69 in 2Q 2023). Revenue: NT$7.43b (up 5.6% from 2Q 2023). Net income: NT$4.21b (down 8.5% from 2Q 2023). Profit margin: 57% (down from 65% in 2Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings.
お知らせ • Jul 27Ruentex Development Co.,Ltd. to Report Q2, 2024 Results on Aug 13, 2024Ruentex Development Co.,Ltd. announced that they will report Q2, 2024 results on Aug 13, 2024
New Risk • Jul 23New 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 6.5% 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: Minor Risks Dividend is not well covered by cash flows (248% cash payout ratio). Share price has been volatile over the past 3 months (6.5% average weekly change). Large one-off items impacting financial results.
Upcoming Dividend • Jul 09Upcoming dividend of NT$1.50 per shareEligible shareholders must have bought the stock before 16 July 2024. Payment date: 08 August 2024. Trailing yield: 3.4%. Lower than top quartile of Taiwanese dividend payers (4.2%). Higher than average of industry peers (2.7%).
New Risk • May 18New minor risk - Earnings qualityThe company has large one-off items impacting its financial results. One-off items were 33% 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: Minor Risks Dividend is not well covered by cash flows (248% cash payout ratio). Large one-off items impacting financial results.
Reported Earnings • May 16First quarter 2024 earnings released: EPS: NT$2.46 (vs NT$0.11 in 1Q 2023)First quarter 2024 results: EPS: NT$2.46 (up from NT$0.11 in 1Q 2023). Revenue: NT$7.00b (up 11% from 1Q 2023). Net income: NT$6.73b (up NT$6.42b from 1Q 2023). Profit margin: 96% (up from 4.9% in 1Q 2023). The increase in margin was primarily driven by lower expenses. 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 20% per year, which means it is well ahead of earnings.
分析記事 • May 07Insufficient Growth At Ruentex Development Co.,Ltd. (TWSE:9945) Hampers Share PriceWhen close to half the companies in Taiwan have price-to-earnings ratios (or "P/E's") above 24x, you may consider...
お知らせ • Apr 28Ruentex Development Co.,Ltd. to Report Q1, 2024 Results on May 13, 2024Ruentex Development Co.,Ltd. announced that they will report Q1, 2024 results on May 13, 2024
分析記事 • Apr 16Does Ruentex DevelopmentLtd (TWSE:9945) 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 • Mar 23Ruentex DevelopmentLtd's (TWSE:9945) Soft Earnings Are Actually Better Than They AppearShareholders appeared unconcerned with Ruentex Development Co.,Ltd.'s ( TWSE:9945 ) lackluster earnings report last...
Reported Earnings • Mar 16Full year 2023 earnings released: EPS: NT$2.65 (vs NT$3.33 in FY 2022)Full year 2023 results: EPS: NT$2.65 (down from NT$3.33 in FY 2022). Revenue: NT$27.4b (down 15% from FY 2022). Net income: NT$7.74b (down 15% from FY 2022). Profit margin: 28% (in line with FY 2022). 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 14% per year, which means it is well ahead of earnings.
お知らせ • Mar 15Ruentex Development Co.,Ltd., Annual General Meeting, May 29, 2024Ruentex Development Co.,Ltd., Annual General Meeting, May 29, 2024.
New Risk • Nov 18New major risk - Financial positionThe company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 6.3% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (6.3% operating cash flow to total debt). Earnings have declined by 2.3% per year over the past 5 years. Minor Risks Dividend is not well covered by cash flows (125% cash payout ratio). Profit margins are more than 30% lower than last year (20% net profit margin).
Reported Earnings • Nov 14Third quarter 2023 earnings released: EPS: NT$2.10 (vs NT$1.63 in 3Q 2022)Third quarter 2023 results: EPS: NT$2.10 (up from NT$1.63 in 3Q 2022). Revenue: NT$5.35b (down 31% from 3Q 2022). Net income: NT$6.04b (up 35% from 3Q 2022). Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has increased by 18% per year, which means it is well ahead of earnings.
Upcoming Dividend • Sep 07Upcoming dividend of NT$1.00 per shareEligible shareholders must have bought the stock before 14 September 2023. Payment date: 02 October 2023. The company last paid an ordinary dividend in March 2013. The average dividend yield among industry peers is 4.4%.
New Risk • Aug 28New major risk - Financial positionThe company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 15% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (15% operating cash flow to total debt). Earnings have declined by 2.3% per year over the past 5 years. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (14% net profit margin).
New Risk • Aug 13New major risk - Revenue and earnings growthEarnings have declined by 2.5% 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 2.5% per year over the past 5 years. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (14% net profit margin).
Reported Earnings • Aug 12Second quarter 2023 earnings released: EPS: NT$1.52 (vs NT$1.92 in 2Q 2022)Second quarter 2023 results: EPS: NT$1.52 (down from NT$1.92 in 2Q 2022). Revenue: NT$7.03b (down 8.0% from 2Q 2022). Net income: NT$4.60b (down 21% from 2Q 2022). Profit margin: 65% (down from 77% in 2Q 2022). Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 28% per year, which means it is well ahead of earnings.
お知らせ • Jul 01Ruentex Development Co.,Ltd. Announces Remuneration Committee ChangesRuentex Development Co.,Ltd. announced the members of the company’s 5th remuneration committee. Name of the previous position holder: Ko, Shun-Hsiung, Accountant of Chien-Ta accountant firm; Chang, Guo-Zhen, Professor of Department of Civil Engineering of NTU; Zhao, Yi-Long, Professor of Department of International Business of NTU. Name of the new position holder: Ko, Shun-Hsiung, Chang, Guo-Zhen and Hsieh, Shang-Hsien. Resume of the new position holder: Ko,Shun-Hsiung, Accountant of Chien-Ta accountant firm; Chang, Guo-Zhen, Professor of Department of Civil Engineering of NTU, Hsieh, Shang-Hsien, Professor of Department of Civil Engineering of NTU. Effective date of the new member is June 30, 2023.
New Risk • Jun 30New major risk - Financial positionThe company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 9.2% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (9.2% operating cash flow to total debt). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (17% net profit margin).
お知らせ • Jun 11Ruentex Development Co.,Ltd. Announces Audit Committee ChangesRuentex Development Co.,Ltd. announced the members of the company’s 4th Audit Committee. Name of the previous position holder: Zhao, Yi-Long. Resume of the previous position holder: Zhao, Yi-Long,Professor of Department of International Business of NTU. Name of the new position holder: Hsieh, Shang-Hsien. Resume of the new position holder: Hsieh, Shang-Hsien, Professor of Department of Civil Engineering of NTU. Reason for the change: term expired. Effective date of the new member: June 9, 2023. Date of occurrence of the change: June 9, 2023.
Reported Earnings • Mar 17Full year 2022 earnings released: EPS: NT$3.00 (vs NT$5.32 in FY 2021)Full year 2022 results: EPS: NT$3.00 (down from NT$5.32 in FY 2021). Revenue: NT$32.2b (up 18% from FY 2021). Net income: NT$9.16b (down 44% from FY 2021). Profit margin: 28% (down from 60% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has increased by 54% per year, which means it is tracking significantly ahead of earnings growth.
Valuation Update With 7 Day Price Move • Mar 16Investor sentiment deteriorates as stock falls 18%After last week's 18% share price decline to NT$36.25, the stock trades at a trailing P/E ratio of 7.4x. Average trailing P/E is 14x in the Real Estate industry in Taiwan. Total returns to shareholders of 305% over the past three years.
お知らせ • Dec 28Ruentex Development Co.,Ltd. Appoints Chang,Wen-Jen as Chief Information Security OfficerRuentex Development Co.,Ltd. appointed CHANG,WEN-JEN Vice President of General Management Office as Chief Information Security Officer, effective December 27, 2022.
Reported Earnings • Nov 16Third quarter 2022 earnings released: EPS: NT$1.47 (vs NT$1.34 in 3Q 2021)Third quarter 2022 results: EPS: NT$1.47 (up from NT$1.34 in 3Q 2021). Revenue: NT$7.80b (down 7.9% from 3Q 2021). Net income: NT$4.49b (up 9.4% from 3Q 2021). Profit margin: 58% (up from 49% in 3Q 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has increased by 44% per year, which means it is tracking significantly ahead of earnings growth.
Board Change • Nov 16Less than half of directors are independentThere is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 2 experienced directors. 9 highly experienced directors. 3 independent directors (6 non-independent directors). Independent Director Kuo-Chen Chang was the last independent director to join the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.
Reported Earnings • Nov 13Third quarter 2022 earnings released: EPS: NT$1.47 (vs NT$1.34 in 3Q 2021)Third quarter 2022 results: EPS: NT$1.47 (up from NT$1.34 in 3Q 2021). Revenue: NT$7.80b (down 7.9% from 3Q 2021). Net income: NT$4.49b (up 9.4% from 3Q 2021). Profit margin: 58% (up from 49% in 3Q 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has increased by 43% per year, which means it is tracking significantly ahead of earnings growth.
Reported Earnings • Aug 15Second quarter 2022 earnings released: EPS: NT$2.87 (vs NT$1.86 in 2Q 2021)Second quarter 2022 results: EPS: NT$2.87 (up from NT$1.86 in 2Q 2021). Revenue: NT$7.65b (up 20% from 2Q 2021). Net income: NT$5.85b (up 55% from 2Q 2021). Profit margin: 77% (up from 60% in 2Q 2021). The increase in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has increased by 47% per year, which means it is tracking significantly ahead of earnings growth.
Upcoming Dividend • Aug 05Upcoming dividend of NT$2.00 per shareEligible shareholders must have bought the stock before 12 August 2022. Payment date: 08 September 2022. Payout ratio is a comfortable 29% and this is well supported by cash flows. Trailing yield: 3.5%. Lower than top quartile of Taiwanese dividend payers (6.7%). Lower than average of industry peers (6.4%).
Valuation Update With 7 Day Price Move • Jul 21Investor sentiment deteriorated over the past weekAfter last week's 17% share price decline to NT$59.20, the stock trades at a trailing P/E ratio of 8.9x. Average trailing P/E is 12x in the Real Estate industry in Taiwan. Total returns to shareholders of 208% over the past three years.
お知らせ • Jun 16Ruentex Development Co.,Ltd. Approves Cash DividendRuentex Development Co.,Ltd. at the shareholders meeting held on June 15, 2022 approved cash dividend of TWD 2 per share.
Reported Earnings • May 16First quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behindFirst quarter 2022 results: EPS: NT$2.15 (down from NT$3.25 in 1Q 2021). Revenue: NT$6.29b (up 20% from 1Q 2021). Net income: NT$4.37b (down 34% from 1Q 2021). Profit margin: 70% (down from 126% in 1Q 2021). The decrease in margin was primarily driven by lower expenses. Revenue missed analyst estimates by 12%. Earnings per share (EPS) exceeded analyst estimates by 30%. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has increased by 54% per year, which means it is tracking significantly ahead of earnings growth.
Buying Opportunity • May 06Now 20% undervaluedOver the last 90 days, the stock is up 20%. The fair value is estimated to be NT$95.62, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 20% over the last 3 years. Earnings per share has grown by 28%.
Board Change • Apr 27Less than half of directors are independentThere is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 4 experienced directors. 7 highly experienced directors. 3 independent directors (6 non-independent directors). Independent Director Kuo-Chen Chang was the last independent director to join the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.
Buying Opportunity • Apr 12Now 22% undervaluedOver the last 90 days, the stock is up 10%. The fair value is estimated to be NT$93.42, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 20% over the last 3 years. Earnings per share has grown by 28%.
Reported Earnings • Mar 17Full year 2021 earnings: EPS exceeds analyst expectations while revenues lag behindFull year 2021 results: EPS: NT$7.98 (up from NT$4.20 in FY 2020). Revenue: NT$27.3b (up 43% from FY 2020). Net income: NT$16.2b (up 90% from FY 2020). Profit margin: 60% (up from 45% in FY 2020). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 12%. Earnings per share (EPS) exceeded analyst estimates by 30%. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has increased by 45% per year, which means it is tracking significantly ahead of earnings growth.
Reported Earnings • Nov 15Third quarter 2021 earnings released: EPS NT$2.02 (vs NT$1.85 in 3Q 2020)The company reported a solid third quarter result with improved earnings and revenues, although profit margins were weaker. Third quarter 2021 results: Revenue: NT$8.47b (up 63% from 3Q 2020). Net income: NT$4.11b (up 9.0% from 3Q 2020). Profit margin: 49% (down from 73% 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 17% per year but the company’s share price has increased by 45% per year, which means it is tracking significantly ahead of earnings growth.
Valuation Update With 7 Day Price Move • Oct 26Investor sentiment improved over the past weekAfter last week's 18% share price gain to NT$67.20, the stock trades at a trailing P/E ratio of 9.7x. Average trailing P/E is 12x in the Real Estate industry in Taiwan. Total returns to shareholders of 264% over the past three years.
Valuation Update With 7 Day Price Move • Sep 10Investor sentiment improved over the past weekAfter last week's 16% share price gain to NT$81.20, the stock trades at a trailing P/E ratio of 8.1x. Average trailing P/E is 11x in the Real Estate industry in Taiwan. Total returns to shareholders of 154% over the past three years.
Reported Earnings • Aug 18Second quarter 2021 earnings released: EPS NT$2.60 (vs NT$1.01 in 2Q 2020)The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: NT$6.35b (up 69% from 2Q 2020). Net income: NT$3.78b (up 157% from 2Q 2020). Profit margin: 60% (up from 39% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 19% per year, which means it is tracking significantly ahead of earnings growth.
お知らせ • Aug 13An unknown buyer acquired Ruentex Construction & Develop from Ruentex Development Co.,Ltd. (TWSE:9945) for TWD 3.6 billion.An unknown buyer acquired Ruentex Construction & Develop from Ruentex Development Co.,Ltd. (TWSE:9945) for TWD 3.6 billion on August 12, 2021. Terms of delivery or payment was Wire transfer. Board of Directors are the decision making party for the deal. An unknown buyer completed the acquisition of Ruentex Construction & Develop from Ruentex Development Co.,Ltd. (TWSE:9945) on August 12, 2021.
Upcoming Dividend • Jul 19Upcoming dividend of NT$1.00 per shareEligible shareholders must have bought the stock before 26 July 2021. Payment date: 12 August 2021. Trailing yield: 1.5%. Lower than top quartile of Taiwanese dividend payers (4.9%). Lower than average of industry peers (4.7%).
Valuation Update With 7 Day Price Move • Jul 12Investor sentiment improved over the past weekAfter last week's 15% share price gain to NT$65.40, the stock trades at a trailing P/E ratio of 7.8x. Average trailing P/E is 12x in the Real Estate industry in Taiwan. Total returns to shareholders of 115% over the past three years.
Reported Earnings • May 15First quarter 2021 earnings released: EPS NT$4.56 (vs NT$2.03 in 1Q 2020)First quarter 2021 results: Revenue: NT$5.24b (up 36% from 1Q 2020). Net income: NT$6.63b (up 124% from 1Q 2020). Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings.
分析記事 • Apr 07Here's Why Ruentex DevelopmentLtd (TPE:9945) Has A Meaningful Debt BurdenThe external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...
Reported Earnings • Mar 27Full year 2020 earnings released: EPS NT$5.88 (vs NT$6.23 in FY 2019)The company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2020 results: Revenue: NT$19.1b (up 11% from FY 2019). Net income: NT$8.56b (down 5.6% from FY 2019). Profit margin: 45% (down from 53% in FY 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings.
Is New 90 Day High Low • Mar 03New 90-day high: NT$42.05The company is up 1.0% from its price of NT$41.45 on 03 December 2020. The Taiwanese market is up 13% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Real Estate industry, which is flat over the same period.
Is New 90 Day High Low • Jan 28New 90-day low: NT$39.25The company is down 1.0% from its price of NT$39.50 on 30 October 2020. The Taiwanese market is up 23% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Real Estate industry, which is up 1.0% over the same period.
分析記事 • Dec 24We Think Ruentex DevelopmentLtd (TPE:9945) Is Taking Some Risk With Its DebtSome say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...
分析記事 • Nov 19If You Had Bought Ruentex DevelopmentLtd (TPE:9945) Stock A Year Ago, You Could Pocket A 31% Gain TodayThese days it's easy to simply buy an index fund, and your returns should (roughly) match the market. But if you pick...
Reported Earnings • Nov 14Third quarter 2020 earnings released: EPS NT$2.59The company reported a soft third quarter result with weaker earnings and profit margins, although revenues were improved. Third quarter 2020 results: Revenue: NT$5.18b (up 17% from 3Q 2019). Net income: NT$3.77b (down 13% from 3Q 2019). Profit margin: 73% (down from 98% in 3Q 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings.