Zen Voce（3581）株式概要ゼン・ヴォイス・コーポレーションは、台湾内外で半導体組立・検査装置を製造・販売している。 詳細3581 ファンダメンタル分析スノーフレーク・スコア評価0/6将来の成長0/6過去の実績3/6財務の健全性5/6配当金0/6報酬過去1年間で収益は293.4%増加しました リスク分析過去5年間で収益は年間31.9%減少しました。 TW市場と比較して、過去 3 か月間の株価の変動が非常に大きい財務結果に影響を与える大きな一時的項目 すべてのリスクチェックを見る3581 Community Fair Values Create NarrativeSee what others think this stock is worth. Follow their fair value or set your own to get alerts.NEW501,452 membersJoin community and earn perksGain real feedbackFrom our editorial team, personally. Not silence.Grow your followingReal investors. The kind who actually invest, not scroll past.Unlock free accessFree premium subscription for consistent and quality authors.Learn moreCreate NarrativeBLINROAG501,452 investors already sharing narrativesYour Fair ValueNT$Current PriceNT$129.0040.7% 割高 内在価値ディスカウントGrowth estimate overAnnual revenue growth rate5 Yearstime period%/yrDecreaseIncreasePastFuture02b2016201920222025202620282031Revenue NT$1.9bEarnings NT$78.5mAdvancedSet Fair ValueView all narrativesZen Voce Corporation 競合他社Nano Electronics and Micro System TechnologiesSymbol: TWSE:7730Market cap: NT$6.6bChen Full InternationalSymbol: TPEX:8383Market cap: NT$7.0bGudeng EquipmentSymbol: TPEX:6953Market cap: NT$6.9bJih Lin TechnologySymbol: TWSE:5285Market cap: NT$10.5b価格と性能株価の高値、安値、推移の概要Zen Voce過去の株価現在の株価NT$129.0052週高値NT$299.5052週安値NT$31.70ベータ2.21ヶ月の変化-17.57%3ヶ月変化84.29%1年変化269.10%3年間の変化426.53%5年間の変化396.15%IPOからの変化280.81%最新ニュースUpcoming Dividend • 42mUpcoming dividend of NT$0.60 per shareEligible shareholders must have bought the stock before 14 July 2026. Payment date: 07 August 2026. Payout ratio is a comfortable 68% and this is well supported by cash flows. Trailing yield: 0.4%. Lower than top quartile of Taiwanese dividend payers (4.9%). Lower than average of industry peers (1.0%).Declared Dividend • Jun 24Dividend increased to NT$0.60Dividend of NT$0.60 is 20% higher than last year. Ex-date: 14th July 2026 Payment date: 7th August 2026 Dividend yield will be 0.4%, which is lower than the industry average of 3.0%. Payout Ratios Payout ratio: 68%. Cash payout ratio: 40%.Reported Earnings • May 13First quarter 2026 earnings released: EPS: NT$0.31 (vs NT$0.23 loss in 1Q 2025)First quarter 2026 results: EPS: NT$0.31 (up from NT$0.23 loss in 1Q 2025). Revenue: NT$405.2m (up 14% from 1Q 2025). Net income: NT$15.8m (up NT$27.4m from 1Q 2025). Profit margin: 3.9% (up from net loss in 1Q 2025). 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 112% per year, which means it is well ahead of earnings.New Risk • Apr 18New minor risk - Earnings qualityThe company has large one-off items impacting its financial results. One-off items were 32% 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 Risks Share price has been highly volatile over the past 3 months (12% average weekly change). Earnings have declined by 35% per year over the past 5 years. Minor Risk Large one-off items impacting financial results.New Risk • Mar 09New minor risk - Market cap sizeThe company's market capitalization is less than US$100m. Market cap: NT$3.18b (US$99.6m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (10% average weekly change). Earnings have declined by 35% per year over the past 5 years. Minor Risk Market cap is less than US$100m (NT$3.18b market cap, or US$99.6m).Reported Earnings • Mar 06Full year 2025 earnings released: EPS: NT$0.81 (vs NT$0.60 in FY 2024)Full year 2025 results: EPS: NT$0.81 (up from NT$0.60 in FY 2024). Revenue: NT$1.57b (up 14% from FY 2024). Net income: NT$41.1m (up 33% from FY 2024). Profit margin: 2.6% (up from 2.2% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 42% per year but the company’s share price has increased by 44% per year, which means it is well ahead of earnings.最新情報をもっと見るRecent updatesUpcoming Dividend • 42mUpcoming dividend of NT$0.60 per shareEligible shareholders must have bought the stock before 14 July 2026. Payment date: 07 August 2026. Payout ratio is a comfortable 68% and this is well supported by cash flows. Trailing yield: 0.4%. Lower than top quartile of Taiwanese dividend payers (4.9%). Lower than average of industry peers (1.0%).Declared Dividend • Jun 24Dividend increased to NT$0.60Dividend of NT$0.60 is 20% higher than last year. Ex-date: 14th July 2026 Payment date: 7th August 2026 Dividend yield will be 0.4%, which is lower than the industry average of 3.0%. Payout Ratios Payout ratio: 68%. Cash payout ratio: 40%.Reported Earnings • May 13First quarter 2026 earnings released: EPS: NT$0.31 (vs NT$0.23 loss in 1Q 2025)First quarter 2026 results: EPS: NT$0.31 (up from NT$0.23 loss in 1Q 2025). Revenue: NT$405.2m (up 14% from 1Q 2025). Net income: NT$15.8m (up NT$27.4m from 1Q 2025). Profit margin: 3.9% (up from net loss in 1Q 2025). 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 112% per year, which means it is well ahead of earnings.New Risk • Apr 18New minor risk - Earnings qualityThe company has large one-off items impacting its financial results. One-off items were 32% 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 Risks Share price has been highly volatile over the past 3 months (12% average weekly change). Earnings have declined by 35% per year over the past 5 years. Minor Risk Large one-off items impacting financial results.New Risk • Mar 09New minor risk - Market cap sizeThe company's market capitalization is less than US$100m. Market cap: NT$3.18b (US$99.6m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (10% average weekly change). Earnings have declined by 35% per year over the past 5 years. Minor Risk Market cap is less than US$100m (NT$3.18b market cap, or US$99.6m).Reported Earnings • Mar 06Full year 2025 earnings released: EPS: NT$0.81 (vs NT$0.60 in FY 2024)Full year 2025 results: EPS: NT$0.81 (up from NT$0.60 in FY 2024). Revenue: NT$1.57b (up 14% from FY 2024). Net income: NT$41.1m (up 33% from FY 2024). Profit margin: 2.6% (up from 2.2% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 42% per year but the company’s share price has increased by 44% per year, which means it is well ahead of earnings.お知らせ • Mar 05Zen Voce Corporation, Annual General Meeting, Jun 12, 2026Zen Voce Corporation, Annual General Meeting, Jun 12, 2026. Location: 1 floor building. c no,18, sec.2 sheng i rd., jhubei city, hsinchu county TaiwanReported Earnings • Nov 15Third quarter 2025 earnings released: EPS: NT$0.73 (vs NT$0.18 loss in 3Q 2024)Third quarter 2025 results: EPS: NT$0.73 (up from NT$0.18 loss in 3Q 2024). Revenue: NT$414.1m (up 18% from 3Q 2024). Net income: NT$37.2m (up NT$46.4m from 3Q 2024). Profit margin: 9.0% (up from net loss in 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 57% per year but the company’s share price has increased by 42% per year, which means it is well ahead of earnings.Reported Earnings • Aug 17Second quarter 2025 earnings released: NT$0.37 loss per share (vs NT$0.15 profit in 2Q 2024)Second quarter 2025 results: NT$0.37 loss per share (down from NT$0.15 profit in 2Q 2024). Revenue: NT$299.2m (down 14% from 2Q 2024). Net loss: NT$18.8m (down 349% from profit in 2Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 81 percentage points per year, which is a significant difference in performance.New Risk • Jul 10New major risk - Share price stabilityThe company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Taiwanese stocks, typically moving 8.8% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (8.8% average weekly change). Earnings have declined by 24% per year over the past 5 years. Minor Risk Market cap is less than US$100m (NT$1.78b market cap, or US$61.0m).Declared Dividend • Jun 26Dividend of NT$0.50 announcedDividend of NT$0.50 is the same as last year. Ex-date: 11th July 2025 Payment date: 8th August 2025 Dividend yield will be 1.5%, which is lower than the industry average of 3.0%. Sustainability & Growth Dividend is not covered by earnings (146% earnings payout ratio). However, it is well covered by cash flows (36% 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 63% to bring the payout ratio under control. However, EPS has declined by 17% over the last 5 years so the company would need to reverse this trend.New Risk • May 23New minor risk - Earnings qualityThe company has large one-off items impacting its financial results. One-off items were 43% 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 24% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (9.0% average weekly change). Large one-off items impacting financial results. Market cap is less than US$100m (NT$1.73b market cap, or US$57.7m).Reported Earnings • May 14First quarter 2025 earnings released: NT$0.23 loss per share (vs NT$0.036 profit in 1Q 2024)First quarter 2025 results: NT$0.23 loss per share (down from NT$0.036 profit in 1Q 2024). Revenue: NT$356.5m (up 9.2% from 1Q 2024). Net loss: NT$11.6m (down NT$13.4m from profit in 1Q 2024). Over the last 3 years on average, earnings per share has fallen by 61% per year but the company’s share price has increased by 16% per year, which means it is well ahead of earnings.New Risk • Mar 31New 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 6.0% 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 15% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (6.0% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.1% net profit margin). Market cap is less than US$100m (NT$1.91b market cap, or US$57.4m).お知らせ • Mar 12Zen Voce Corporation, Annual General Meeting, Jun 13, 2025Zen Voce Corporation, Annual General Meeting, Jun 13, 2025. Location: 1 floor no,18, sec.2 sheng i rd., jhubei city, hsinchu county TaiwanReported Earnings • Nov 19Third quarter 2024 earnings released: NT$0.18 loss per share (vs NT$0.22 profit in 3Q 2023)Third quarter 2024 results: NT$0.18 loss per share (down from NT$0.22 profit in 3Q 2023). Revenue: NT$349.9m (down 6.1% from 3Q 2023). Net loss: NT$9.18m (down 182% from profit in 3Q 2023). Over the last 3 years on average, earnings per share has fallen by 61% per year but the company’s share price has increased by 30% per year, which means it is well ahead of earnings.Reported Earnings • Aug 17Second quarter 2024 earnings released: EPS: NT$0.14 (vs NT$0.022 in 2Q 2023)Second quarter 2024 results: EPS: NT$0.14 (up from NT$0.022 in 2Q 2023). Revenue: NT$348.6m (up 2.1% from 2Q 2023). Net income: NT$7.55m (up NT$6.45m from 2Q 2023). Profit margin: 2.2% (up from 0.3% in 2Q 2023). Over the last 3 years on average, earnings per share has fallen by 47% per year but the company’s share price has increased by 26% per year, which means it is well ahead of earnings.Upcoming Dividend • Jul 04Upcoming dividend of NT$0.50 per shareEligible shareholders must have bought the stock before 11 July 2024. Payment date: 08 August 2024. Payout ratio is on the higher end at 93%, however this is supported by cash flows. Trailing yield: 1.7%. Lower than top quartile of Taiwanese dividend payers (4.2%). Lower than average of industry peers (2.0%).Reported Earnings • May 19First quarter 2024 earnings released: EPS: NT$0.04 (vs NT$0.28 in 1Q 2023)First quarter 2024 results: EPS: NT$0.04 (down from NT$0.28 in 1Q 2023). Revenue: NT$326.3m (down 15% from 1Q 2023). Net income: NT$1.84m (down 87% from 1Q 2023). Profit margin: 0.6% (down from 3.7% in 1Q 2023). Over the last 3 years on average, earnings per share has fallen by 40% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings.New Risk • Apr 07New minor risk - Earnings qualityThe company has large one-off items impacting its financial results. One-off items were 25% 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 Share price has been highly volatile over the past 3 months (8.7% average weekly change). Minor Risks Dividend is not well covered by earnings (93% 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$1.65b market cap, or US$51.3m).Reported Earnings • Mar 29Full year 2023 earnings released: EPS: NT$0.55 (vs NT$1.26 in FY 2022)Full year 2023 results: EPS: NT$0.55 (down from NT$1.26 in FY 2022). Revenue: NT$1.46b (down 3.2% from FY 2022). Net income: NT$27.9m (down 56% from FY 2022). Profit margin: 1.9% (down from 4.2% in FY 2022). Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings.お知らせ • Mar 21Zen Voce Corporation, Annual General Meeting, Jun 11, 2024Zen Voce Corporation, Annual General Meeting, Jun 11, 2024.New Risk • Mar 15New major risk - Share price stabilityThe company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Taiwanese stocks, typically moving 7.9% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (7.9% average weekly change). Minor Risks Dividend is not well covered by earnings (93% payout ratio). Profit margins are more than 30% lower than last year (2.9% net profit margin). Market cap is less than US$100m (NT$1.63b market cap, or US$51.7m).Buy Or Sell Opportunity • Mar 12Now 28% overvalued after recent price riseOver the last 90 days, the stock has risen 28% to NT$32.85. The fair value is estimated to be NT$25.74, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has declined by 14%.Valuation Update With 7 Day Price Move • Feb 20Investor sentiment improves as stock rises 15%After last week's 15% share price gain to NT$32.70, the stock trades at a trailing P/E ratio of 38.1x. Average trailing P/E is 29x in the Semiconductor industry in Taiwan. Total returns to shareholders of 52% over the past three years.Buy Or Sell Opportunity • Feb 20Now 25% overvalued after recent price riseOver the last 90 days, the stock has risen 24% to NT$32.70. The fair value is estimated to be NT$26.10, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has declined by 14%.Valuation Update With 7 Day Price Move • Jan 25Investor sentiment improves as stock rises 16%After last week's 16% share price gain to NT$29.70, the stock trades at a trailing P/E ratio of 34.6x. Average trailing P/E is 27x in the Semiconductor industry in Taiwan. Total returns to shareholders of 43% over the past three years.Buy Or Sell Opportunity • Jan 25Now 22% overvalued after recent price riseOver the last 90 days, the stock has risen 19% to NT$29.70. The fair value is estimated to be NT$24.36, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has declined by 14%.Reported Earnings • Aug 10Second quarter 2023 earnings released: EPS: NT$0.02 (vs NT$0.002 in 2Q 2022)Second quarter 2023 results: EPS: NT$0.02 (up from NT$0.002 in 2Q 2022). Revenue: NT$341.4m (down 5.2% from 2Q 2022). Net income: NT$1.10m (up NT$990.0k from 2Q 2022). Profit margin: 0.3% (up from 0% in 2Q 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 23% per year, which means it is well ahead of earnings.New Risk • Aug 01New 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 6.6% 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 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 (6.6% average weekly change). Profit margins are more than 30% lower than last year (4.1% net profit margin). Market cap is less than US$100m (NT$1.60b market cap, or US$50.9m).Valuation Update With 7 Day Price Move • Jul 24Investor sentiment improves as stock rises 17%After last week's 17% share price gain to NT$27.80, the stock trades at a trailing P/E ratio of 22.7x. Average trailing P/E is 19x in the Semiconductor industry in Taiwan. Total returns to shareholders of 101% over the past three years.Upcoming Dividend • Jul 06Upcoming dividend of NT$0.80 per share at 3.3% yieldEligible shareholders must have bought the stock before 13 July 2023. Payment date: 08 August 2023. Payout ratio is a comfortable 64% and this is well supported by cash flows. Trailing yield: 3.3%. Lower than top quartile of Taiwanese dividend payers (5.4%). In line with average of industry peers (3.2%).Reported Earnings • Aug 06Second quarter 2022 earnings released: EPS: NT$0.002 (vs NT$0.66 in 2Q 2021)Second quarter 2022 results: EPS: NT$0.002 (down from NT$0.66 in 2Q 2021). Revenue: NT$360.3m (up 14% from 2Q 2021). Net income: NT$109.0k (down 100% from 2Q 2021). Profit margin: 0% (down from 11% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth.Upcoming Dividend • Aug 03Upcoming dividend of NT$1.00 per shareEligible shareholders must have bought the stock before 10 August 2022. Payment date: 02 September 2022. Payout ratio is a comfortable 48% but the company is paying out more than the cash it is generating. Trailing yield: 4.7%. Lower than top quartile of Taiwanese dividend payers (6.7%). Higher than average of industry peers (3.7%).Reported Earnings • May 09First quarter 2022 earnings released: EPS: NT$0.31 (vs NT$0.33 in 1Q 2021)First quarter 2022 results: EPS: NT$0.31 (down from NT$0.33 in 1Q 2021). Revenue: NT$353.2m (up 31% from 1Q 2021). Net income: NT$16.0m (down 5.8% from 1Q 2021). Profit margin: 4.5% (down from 6.3% 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 38% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth.Reported Earnings • Mar 06Full year 2021 earnings: EPS in line with analyst expectations despite revenue beatFull year 2021 results: EPS: NT$2.11 (up from NT$1.50 in FY 2020). Revenue: NT$1.31b (up 9.1% from FY 2020). Net income: NT$107.7m (up 41% from FY 2020). Profit margin: 8.2% (up from 6.4% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.7%. Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth.Reported Earnings • Nov 15Third quarter 2021 earnings released: EPS NT$0.72 (vs NT$0.25 in 3Q 2020)The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$363.3m (up 24% from 3Q 2020). Net income: NT$36.6m (up 187% from 3Q 2020). Profit margin: 10% (up from 4.3% in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has only increased by 27% per year, which means it is significantly lagging earnings growth.Reported Earnings • Aug 12Second quarter 2021 earnings released: EPS NT$0.66 (vs NT$0.87 in 2Q 2020)The company reported a poor second quarter result with weaker earnings and profit margins, although revenues were flat. Second quarter 2021 results: Revenue: NT$316.0m (flat on 2Q 2020). Net income: NT$33.5m (down 25% from 2Q 2020). Profit margin: 11% (down from 14% in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth.Upcoming Dividend • Jul 12Upcoming dividend of NT$0.90 per shareEligible shareholders must have bought the stock before 19 July 2021. Payment date: 11 August 2021. Trailing yield: 3.7%. Lower than top quartile of Taiwanese dividend payers (5.0%). Higher than average of industry peers (2.2%).Reported Earnings • May 17First quarter 2021 earnings released: EPS NT$0.33 (vs NT$0.082 loss in 1Q 2020)The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$270.7m (up 8.0% from 1Q 2020). Net income: NT$17.0m (up NT$21.2m from 1Q 2020). Profit margin: 6.3% (up from net loss in 1Q 2020). Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth.Valuation Update With 7 Day Price Move • May 14Investor sentiment deteriorated over the past weekAfter last week's 15% share price decline to NT$23.80, the stock trades at a trailing P/E ratio of 15.8x. Average trailing P/E is 22x in the Semiconductor industry in Taiwan. Total returns to shareholders of 24% over the past three years.Valuation Update With 7 Day Price Move • Apr 08Investor sentiment improved over the past weekAfter last week's 20% share price gain to NT$32.10, the stock trades at a trailing P/E ratio of 21.4x. Average trailing P/E is 29x in the Semiconductor industry in Taiwan. Total returns to shareholders of 80% over the past three years.分析記事 • Mar 31Should You Buy Zen Voce Corporation (GTSM:3581) For Its Dividend?Could Zen Voce Corporation ( GTSM:3581 ) be an attractive dividend share to own for the long haul? Investors are often...Reported Earnings • Mar 24Full year 2020 earnings released: EPS NT$1.50 (vs NT$1.05 in FY 2019)The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$1.20b (up 1.5% from FY 2019). Net income: NT$76.6m (up 43% from FY 2019). Profit margin: 6.4% (up from 4.5% in FY 2019). Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings.分析記事 • Mar 10Is Zen Voce (GTSM:3581) A Risky Investment?David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...Is New 90 Day High Low • Mar 03New 90-day high: NT$26.00The company is up 14% from its price of NT$22.80 on 03 December 2020. The Taiwanese market is up 13% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Semiconductor industry, which is up 22% over the same period.分析記事 • Feb 04Will Zen Voce (GTSM:3581) Multiply In Value Going Forward?If you're not sure where to start when looking for the next multi-bagger, there are a few key trends you should keep an...分析記事 • Jan 18Zen Voce Corporation's (GTSM:3581) Financials Are Too Obscure To Link With Current Share Price Momentum: What's In Store For the Stock?Most readers would already be aware that Zen Voce's (GTSM:3581) stock increased significantly by 24% over the past...Valuation Update With 7 Day Price Move • Jan 15Investor sentiment improved over the past weekAfter last week's 16% share price gain to NT$24.90, the stock is trading at a trailing P/E ratio of 21.2x, up from the previous P/E ratio of 18.3x. This compares to an average P/E of 26x in the Semiconductor industry in Taiwan. Total returns to shareholders over the past three years are 16%.Is New 90 Day High Low • Jan 12New 90-day high: NT$23.75The company is up 18% from its price of NT$20.10 on 15 October 2020. The Taiwanese market is up 19% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Semiconductor industry, which is up 28% over the same period.分析記事 • Dec 28Consider This Before Buying Zen Voce Corporation (GTSM:3581) For The 3.1% DividendDividend paying stocks like Zen Voce Corporation ( GTSM:3581 ) tend to be popular with investors, and for good reason...分析記事 • Dec 10Zen Voce (GTSM:3581) Seems To Use Debt Rather SparinglyThe external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...Is New 90 Day High Low • Dec 09New 90-day high: NT$23.20The company is up 7.0% from its price of NT$21.70 on 11 September 2020. The Taiwanese market is up 13% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Semiconductor industry, which is up 25% over the same period.Valuation Update With 7 Day Price Move • Dec 05Market bids up stock over the past weekAfter last week's 17% share price gain to NT$23.15, the stock is trading at a trailing P/E ratio of 19.7x, up from the previous P/E ratio of 16.9x. This compares to an average P/E of 25x in the Semiconductor industry in Taiwan. Total returns to shareholders over the past three years are 14%.分析記事 • Nov 22Are Zen Voce's (GTSM:3581) Statutory Earnings A Good Guide To Its Underlying Profitability?As a general rule, we think profitable companies are less risky than companies that lose money. Having said that...Reported Earnings • Nov 15Third quarter 2020 earnings released: EPS NT$0.25The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2020 results: Revenue: NT$293.9m (down 3.4% from 3Q 2019). Net income: NT$12.7m (down 42% from 3Q 2019). Profit margin: 4.3% (down from 7.2% in 3Q 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings.株主還元3581TW SemiconductorTW 市場7D-9.5%-0.7%-1.4%1Y269.1%143.2%101.6%株主還元を見る業界別リターン: 3581過去 1 年間で143.2 % の収益を上げたTW Semiconductor業界を上回りました。リターン対市場: 3581過去 1 年間で101.6 % の収益を上げたTW市場を上回りました。価格変動Is 3581's price volatile compared to industry and market?3581 volatility3581 Average Weekly Movement15.3%Semiconductor Industry Average Movement9.9%Market Average Movement6.5%10% most volatile stocks in TW Market12.1%10% least volatile stocks in TW Market2.6%安定した株価: 3581の株価は、 TW市場と比較して過去 3 か月間で変動しています。時間の経過による変動: 3581の weekly volatility ( 15% ) は過去 1 年間安定していますが、依然としてTWの株式の 75% よりも高くなっています。会社概要設立従業員CEO（最高経営責任者ウェブサイト1999n/an/awww.zenvoce.comゼン・ヴォイス・コーポレーションは台湾および海外で半導体組立・検査装置を製造・販売している。ICパッケージングマシンおよびバンピング製品、ウェハ切断・洗浄機、基板切断・洗浄機の設計・製造を行っている。また、ウエハテストプローブカードPCB、ICテストHIFIXとCHANGキット、SOCKET ICテスト製品、ICハンドラー、SOCKET ICバーンインテスト製品などのテスト製品の設計と製造も行っている。同社は半導体、オプトエレクトロニクス、マイクロエレクトロニクス、LCD装置業界にサービスを提供している。以前はTrutek Cooperationとして知られていた。Zen Voce Corporationは1999年に設立され、台湾の新竹に拠点を置く。もっと見るZen Voce Corporation 基礎のまとめZen Voce の収益と売上を時価総額と比較するとどうか。3581 基礎統計学時価総額NT$6.58b収益（TTM）NT$68.49m売上高(TTM)NT$1.62b96.1xPER（株価収益率4.1xP/Sレシオ3581 は割高か？公正価値と評価分析を参照収益と収入最新の決算報告書（TTM）に基づく主な収益性統計3581 損益計算書（TTM）収益NT$1.62b売上原価NT$1.08b売上総利益NT$536.12mその他の費用NT$467.63m収益NT$68.49m直近の収益報告Mar 31, 2026次回決算日該当なし一株当たり利益（EPS）1.34グロス・マージン33.13%純利益率4.23%有利子負債／自己資本比率40.1%3581 の長期的なパフォーマンスは？過去の実績と比較を見る配当金0.4%現在の配当利回り68%配当性向3581 配当は確実ですか？3581 配当履歴とベンチマークを見る3581 、いつまでに購入すれば配当金を受け取れますか？Zen Voce 配当日配当落ち日Jul 14 2026配当支払日Aug 07 2026配当落ちまでの日数6 days配当支払日までの日数30 days3581 配当は確実ですか？3581 配当履歴とベンチマークを見るView Valuation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2026/07/08 09:17終値2026/07/08 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、レポートの使い方に関する ガイド や YouTube の チュートリアル もご用意しています。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Zen Voce Corporation 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Changrong ChenCapital Securities Corporation
Upcoming Dividend • 42mUpcoming dividend of NT$0.60 per shareEligible shareholders must have bought the stock before 14 July 2026. Payment date: 07 August 2026. Payout ratio is a comfortable 68% and this is well supported by cash flows. Trailing yield: 0.4%. Lower than top quartile of Taiwanese dividend payers (4.9%). Lower than average of industry peers (1.0%).
Declared Dividend • Jun 24Dividend increased to NT$0.60Dividend of NT$0.60 is 20% higher than last year. Ex-date: 14th July 2026 Payment date: 7th August 2026 Dividend yield will be 0.4%, which is lower than the industry average of 3.0%. Payout Ratios Payout ratio: 68%. Cash payout ratio: 40%.
Reported Earnings • May 13First quarter 2026 earnings released: EPS: NT$0.31 (vs NT$0.23 loss in 1Q 2025)First quarter 2026 results: EPS: NT$0.31 (up from NT$0.23 loss in 1Q 2025). Revenue: NT$405.2m (up 14% from 1Q 2025). Net income: NT$15.8m (up NT$27.4m from 1Q 2025). Profit margin: 3.9% (up from net loss in 1Q 2025). 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 112% per year, which means it is well ahead of earnings.
New Risk • Apr 18New minor risk - Earnings qualityThe company has large one-off items impacting its financial results. One-off items were 32% 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 Risks Share price has been highly volatile over the past 3 months (12% average weekly change). Earnings have declined by 35% per year over the past 5 years. Minor Risk Large one-off items impacting financial results.
New Risk • Mar 09New minor risk - Market cap sizeThe company's market capitalization is less than US$100m. Market cap: NT$3.18b (US$99.6m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (10% average weekly change). Earnings have declined by 35% per year over the past 5 years. Minor Risk Market cap is less than US$100m (NT$3.18b market cap, or US$99.6m).
Reported Earnings • Mar 06Full year 2025 earnings released: EPS: NT$0.81 (vs NT$0.60 in FY 2024)Full year 2025 results: EPS: NT$0.81 (up from NT$0.60 in FY 2024). Revenue: NT$1.57b (up 14% from FY 2024). Net income: NT$41.1m (up 33% from FY 2024). Profit margin: 2.6% (up from 2.2% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 42% per year but the company’s share price has increased by 44% per year, which means it is well ahead of earnings.
Upcoming Dividend • 42mUpcoming dividend of NT$0.60 per shareEligible shareholders must have bought the stock before 14 July 2026. Payment date: 07 August 2026. Payout ratio is a comfortable 68% and this is well supported by cash flows. Trailing yield: 0.4%. Lower than top quartile of Taiwanese dividend payers (4.9%). Lower than average of industry peers (1.0%).
Declared Dividend • Jun 24Dividend increased to NT$0.60Dividend of NT$0.60 is 20% higher than last year. Ex-date: 14th July 2026 Payment date: 7th August 2026 Dividend yield will be 0.4%, which is lower than the industry average of 3.0%. Payout Ratios Payout ratio: 68%. Cash payout ratio: 40%.
Reported Earnings • May 13First quarter 2026 earnings released: EPS: NT$0.31 (vs NT$0.23 loss in 1Q 2025)First quarter 2026 results: EPS: NT$0.31 (up from NT$0.23 loss in 1Q 2025). Revenue: NT$405.2m (up 14% from 1Q 2025). Net income: NT$15.8m (up NT$27.4m from 1Q 2025). Profit margin: 3.9% (up from net loss in 1Q 2025). 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 112% per year, which means it is well ahead of earnings.
New Risk • Apr 18New minor risk - Earnings qualityThe company has large one-off items impacting its financial results. One-off items were 32% 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 Risks Share price has been highly volatile over the past 3 months (12% average weekly change). Earnings have declined by 35% per year over the past 5 years. Minor Risk Large one-off items impacting financial results.
New Risk • Mar 09New minor risk - Market cap sizeThe company's market capitalization is less than US$100m. Market cap: NT$3.18b (US$99.6m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (10% average weekly change). Earnings have declined by 35% per year over the past 5 years. Minor Risk Market cap is less than US$100m (NT$3.18b market cap, or US$99.6m).
Reported Earnings • Mar 06Full year 2025 earnings released: EPS: NT$0.81 (vs NT$0.60 in FY 2024)Full year 2025 results: EPS: NT$0.81 (up from NT$0.60 in FY 2024). Revenue: NT$1.57b (up 14% from FY 2024). Net income: NT$41.1m (up 33% from FY 2024). Profit margin: 2.6% (up from 2.2% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 42% per year but the company’s share price has increased by 44% per year, which means it is well ahead of earnings.
お知らせ • Mar 05Zen Voce Corporation, Annual General Meeting, Jun 12, 2026Zen Voce Corporation, Annual General Meeting, Jun 12, 2026. Location: 1 floor building. c no,18, sec.2 sheng i rd., jhubei city, hsinchu county Taiwan
Reported Earnings • Nov 15Third quarter 2025 earnings released: EPS: NT$0.73 (vs NT$0.18 loss in 3Q 2024)Third quarter 2025 results: EPS: NT$0.73 (up from NT$0.18 loss in 3Q 2024). Revenue: NT$414.1m (up 18% from 3Q 2024). Net income: NT$37.2m (up NT$46.4m from 3Q 2024). Profit margin: 9.0% (up from net loss in 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 57% per year but the company’s share price has increased by 42% per year, which means it is well ahead of earnings.
Reported Earnings • Aug 17Second quarter 2025 earnings released: NT$0.37 loss per share (vs NT$0.15 profit in 2Q 2024)Second quarter 2025 results: NT$0.37 loss per share (down from NT$0.15 profit in 2Q 2024). Revenue: NT$299.2m (down 14% from 2Q 2024). Net loss: NT$18.8m (down 349% from profit in 2Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 81 percentage points per year, which is a significant difference in performance.
New Risk • Jul 10New major risk - Share price stabilityThe company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Taiwanese stocks, typically moving 8.8% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (8.8% average weekly change). Earnings have declined by 24% per year over the past 5 years. Minor Risk Market cap is less than US$100m (NT$1.78b market cap, or US$61.0m).
Declared Dividend • Jun 26Dividend of NT$0.50 announcedDividend of NT$0.50 is the same as last year. Ex-date: 11th July 2025 Payment date: 8th August 2025 Dividend yield will be 1.5%, which is lower than the industry average of 3.0%. Sustainability & Growth Dividend is not covered by earnings (146% earnings payout ratio). However, it is well covered by cash flows (36% 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 63% to bring the payout ratio under control. However, EPS has declined by 17% over the last 5 years so the company would need to reverse this trend.
New Risk • May 23New minor risk - Earnings qualityThe company has large one-off items impacting its financial results. One-off items were 43% 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 24% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (9.0% average weekly change). Large one-off items impacting financial results. Market cap is less than US$100m (NT$1.73b market cap, or US$57.7m).
Reported Earnings • May 14First quarter 2025 earnings released: NT$0.23 loss per share (vs NT$0.036 profit in 1Q 2024)First quarter 2025 results: NT$0.23 loss per share (down from NT$0.036 profit in 1Q 2024). Revenue: NT$356.5m (up 9.2% from 1Q 2024). Net loss: NT$11.6m (down NT$13.4m from profit in 1Q 2024). Over the last 3 years on average, earnings per share has fallen by 61% per year but the company’s share price has increased by 16% per year, which means it is well ahead of earnings.
New Risk • Mar 31New 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 6.0% 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 15% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (6.0% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.1% net profit margin). Market cap is less than US$100m (NT$1.91b market cap, or US$57.4m).
お知らせ • Mar 12Zen Voce Corporation, Annual General Meeting, Jun 13, 2025Zen Voce Corporation, Annual General Meeting, Jun 13, 2025. Location: 1 floor no,18, sec.2 sheng i rd., jhubei city, hsinchu county Taiwan
Reported Earnings • Nov 19Third quarter 2024 earnings released: NT$0.18 loss per share (vs NT$0.22 profit in 3Q 2023)Third quarter 2024 results: NT$0.18 loss per share (down from NT$0.22 profit in 3Q 2023). Revenue: NT$349.9m (down 6.1% from 3Q 2023). Net loss: NT$9.18m (down 182% from profit in 3Q 2023). Over the last 3 years on average, earnings per share has fallen by 61% per year but the company’s share price has increased by 30% per year, which means it is well ahead of earnings.
Reported Earnings • Aug 17Second quarter 2024 earnings released: EPS: NT$0.14 (vs NT$0.022 in 2Q 2023)Second quarter 2024 results: EPS: NT$0.14 (up from NT$0.022 in 2Q 2023). Revenue: NT$348.6m (up 2.1% from 2Q 2023). Net income: NT$7.55m (up NT$6.45m from 2Q 2023). Profit margin: 2.2% (up from 0.3% in 2Q 2023). Over the last 3 years on average, earnings per share has fallen by 47% per year but the company’s share price has increased by 26% per year, which means it is well ahead of earnings.
Upcoming Dividend • Jul 04Upcoming dividend of NT$0.50 per shareEligible shareholders must have bought the stock before 11 July 2024. Payment date: 08 August 2024. Payout ratio is on the higher end at 93%, however this is supported by cash flows. Trailing yield: 1.7%. Lower than top quartile of Taiwanese dividend payers (4.2%). Lower than average of industry peers (2.0%).
Reported Earnings • May 19First quarter 2024 earnings released: EPS: NT$0.04 (vs NT$0.28 in 1Q 2023)First quarter 2024 results: EPS: NT$0.04 (down from NT$0.28 in 1Q 2023). Revenue: NT$326.3m (down 15% from 1Q 2023). Net income: NT$1.84m (down 87% from 1Q 2023). Profit margin: 0.6% (down from 3.7% in 1Q 2023). Over the last 3 years on average, earnings per share has fallen by 40% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings.
New Risk • Apr 07New minor risk - Earnings qualityThe company has large one-off items impacting its financial results. One-off items were 25% 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 Share price has been highly volatile over the past 3 months (8.7% average weekly change). Minor Risks Dividend is not well covered by earnings (93% 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$1.65b market cap, or US$51.3m).
Reported Earnings • Mar 29Full year 2023 earnings released: EPS: NT$0.55 (vs NT$1.26 in FY 2022)Full year 2023 results: EPS: NT$0.55 (down from NT$1.26 in FY 2022). Revenue: NT$1.46b (down 3.2% from FY 2022). Net income: NT$27.9m (down 56% from FY 2022). Profit margin: 1.9% (down from 4.2% in FY 2022). Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings.
お知らせ • Mar 21Zen Voce Corporation, Annual General Meeting, Jun 11, 2024Zen Voce Corporation, Annual General Meeting, Jun 11, 2024.
New Risk • Mar 15New major risk - Share price stabilityThe company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Taiwanese stocks, typically moving 7.9% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (7.9% average weekly change). Minor Risks Dividend is not well covered by earnings (93% payout ratio). Profit margins are more than 30% lower than last year (2.9% net profit margin). Market cap is less than US$100m (NT$1.63b market cap, or US$51.7m).
Buy Or Sell Opportunity • Mar 12Now 28% overvalued after recent price riseOver the last 90 days, the stock has risen 28% to NT$32.85. The fair value is estimated to be NT$25.74, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has declined by 14%.
Valuation Update With 7 Day Price Move • Feb 20Investor sentiment improves as stock rises 15%After last week's 15% share price gain to NT$32.70, the stock trades at a trailing P/E ratio of 38.1x. Average trailing P/E is 29x in the Semiconductor industry in Taiwan. Total returns to shareholders of 52% over the past three years.
Buy Or Sell Opportunity • Feb 20Now 25% overvalued after recent price riseOver the last 90 days, the stock has risen 24% to NT$32.70. The fair value is estimated to be NT$26.10, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has declined by 14%.
Valuation Update With 7 Day Price Move • Jan 25Investor sentiment improves as stock rises 16%After last week's 16% share price gain to NT$29.70, the stock trades at a trailing P/E ratio of 34.6x. Average trailing P/E is 27x in the Semiconductor industry in Taiwan. Total returns to shareholders of 43% over the past three years.
Buy Or Sell Opportunity • Jan 25Now 22% overvalued after recent price riseOver the last 90 days, the stock has risen 19% to NT$29.70. The fair value is estimated to be NT$24.36, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has declined by 14%.
Reported Earnings • Aug 10Second quarter 2023 earnings released: EPS: NT$0.02 (vs NT$0.002 in 2Q 2022)Second quarter 2023 results: EPS: NT$0.02 (up from NT$0.002 in 2Q 2022). Revenue: NT$341.4m (down 5.2% from 2Q 2022). Net income: NT$1.10m (up NT$990.0k from 2Q 2022). Profit margin: 0.3% (up from 0% in 2Q 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 23% per year, which means it is well ahead of earnings.
New Risk • Aug 01New 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 6.6% 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 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 (6.6% average weekly change). Profit margins are more than 30% lower than last year (4.1% net profit margin). Market cap is less than US$100m (NT$1.60b market cap, or US$50.9m).
Valuation Update With 7 Day Price Move • Jul 24Investor sentiment improves as stock rises 17%After last week's 17% share price gain to NT$27.80, the stock trades at a trailing P/E ratio of 22.7x. Average trailing P/E is 19x in the Semiconductor industry in Taiwan. Total returns to shareholders of 101% over the past three years.
Upcoming Dividend • Jul 06Upcoming dividend of NT$0.80 per share at 3.3% yieldEligible shareholders must have bought the stock before 13 July 2023. Payment date: 08 August 2023. Payout ratio is a comfortable 64% and this is well supported by cash flows. Trailing yield: 3.3%. Lower than top quartile of Taiwanese dividend payers (5.4%). In line with average of industry peers (3.2%).
Reported Earnings • Aug 06Second quarter 2022 earnings released: EPS: NT$0.002 (vs NT$0.66 in 2Q 2021)Second quarter 2022 results: EPS: NT$0.002 (down from NT$0.66 in 2Q 2021). Revenue: NT$360.3m (up 14% from 2Q 2021). Net income: NT$109.0k (down 100% from 2Q 2021). Profit margin: 0% (down from 11% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth.
Upcoming Dividend • Aug 03Upcoming dividend of NT$1.00 per shareEligible shareholders must have bought the stock before 10 August 2022. Payment date: 02 September 2022. Payout ratio is a comfortable 48% but the company is paying out more than the cash it is generating. Trailing yield: 4.7%. Lower than top quartile of Taiwanese dividend payers (6.7%). Higher than average of industry peers (3.7%).
Reported Earnings • May 09First quarter 2022 earnings released: EPS: NT$0.31 (vs NT$0.33 in 1Q 2021)First quarter 2022 results: EPS: NT$0.31 (down from NT$0.33 in 1Q 2021). Revenue: NT$353.2m (up 31% from 1Q 2021). Net income: NT$16.0m (down 5.8% from 1Q 2021). Profit margin: 4.5% (down from 6.3% 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 38% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth.
Reported Earnings • Mar 06Full year 2021 earnings: EPS in line with analyst expectations despite revenue beatFull year 2021 results: EPS: NT$2.11 (up from NT$1.50 in FY 2020). Revenue: NT$1.31b (up 9.1% from FY 2020). Net income: NT$107.7m (up 41% from FY 2020). Profit margin: 8.2% (up from 6.4% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.7%. Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth.
Reported Earnings • Nov 15Third quarter 2021 earnings released: EPS NT$0.72 (vs NT$0.25 in 3Q 2020)The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$363.3m (up 24% from 3Q 2020). Net income: NT$36.6m (up 187% from 3Q 2020). Profit margin: 10% (up from 4.3% in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has only increased by 27% per year, which means it is significantly lagging earnings growth.
Reported Earnings • Aug 12Second quarter 2021 earnings released: EPS NT$0.66 (vs NT$0.87 in 2Q 2020)The company reported a poor second quarter result with weaker earnings and profit margins, although revenues were flat. Second quarter 2021 results: Revenue: NT$316.0m (flat on 2Q 2020). Net income: NT$33.5m (down 25% from 2Q 2020). Profit margin: 11% (down from 14% in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth.
Upcoming Dividend • Jul 12Upcoming dividend of NT$0.90 per shareEligible shareholders must have bought the stock before 19 July 2021. Payment date: 11 August 2021. Trailing yield: 3.7%. Lower than top quartile of Taiwanese dividend payers (5.0%). Higher than average of industry peers (2.2%).
Reported Earnings • May 17First quarter 2021 earnings released: EPS NT$0.33 (vs NT$0.082 loss in 1Q 2020)The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$270.7m (up 8.0% from 1Q 2020). Net income: NT$17.0m (up NT$21.2m from 1Q 2020). Profit margin: 6.3% (up from net loss in 1Q 2020). Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth.
Valuation Update With 7 Day Price Move • May 14Investor sentiment deteriorated over the past weekAfter last week's 15% share price decline to NT$23.80, the stock trades at a trailing P/E ratio of 15.8x. Average trailing P/E is 22x in the Semiconductor industry in Taiwan. Total returns to shareholders of 24% over the past three years.
Valuation Update With 7 Day Price Move • Apr 08Investor sentiment improved over the past weekAfter last week's 20% share price gain to NT$32.10, the stock trades at a trailing P/E ratio of 21.4x. Average trailing P/E is 29x in the Semiconductor industry in Taiwan. Total returns to shareholders of 80% over the past three years.
分析記事 • Mar 31Should You Buy Zen Voce Corporation (GTSM:3581) For Its Dividend?Could Zen Voce Corporation ( GTSM:3581 ) be an attractive dividend share to own for the long haul? Investors are often...
Reported Earnings • Mar 24Full year 2020 earnings released: EPS NT$1.50 (vs NT$1.05 in FY 2019)The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$1.20b (up 1.5% from FY 2019). Net income: NT$76.6m (up 43% from FY 2019). Profit margin: 6.4% (up from 4.5% in FY 2019). Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings.
分析記事 • Mar 10Is Zen Voce (GTSM:3581) A Risky Investment?David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...
Is New 90 Day High Low • Mar 03New 90-day high: NT$26.00The company is up 14% from its price of NT$22.80 on 03 December 2020. The Taiwanese market is up 13% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Semiconductor industry, which is up 22% over the same period.
分析記事 • Feb 04Will Zen Voce (GTSM:3581) Multiply In Value Going Forward?If you're not sure where to start when looking for the next multi-bagger, there are a few key trends you should keep an...
分析記事 • Jan 18Zen Voce Corporation's (GTSM:3581) Financials Are Too Obscure To Link With Current Share Price Momentum: What's In Store For the Stock?Most readers would already be aware that Zen Voce's (GTSM:3581) stock increased significantly by 24% over the past...
Valuation Update With 7 Day Price Move • Jan 15Investor sentiment improved over the past weekAfter last week's 16% share price gain to NT$24.90, the stock is trading at a trailing P/E ratio of 21.2x, up from the previous P/E ratio of 18.3x. This compares to an average P/E of 26x in the Semiconductor industry in Taiwan. Total returns to shareholders over the past three years are 16%.
Is New 90 Day High Low • Jan 12New 90-day high: NT$23.75The company is up 18% from its price of NT$20.10 on 15 October 2020. The Taiwanese market is up 19% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Semiconductor industry, which is up 28% over the same period.
分析記事 • Dec 28Consider This Before Buying Zen Voce Corporation (GTSM:3581) For The 3.1% DividendDividend paying stocks like Zen Voce Corporation ( GTSM:3581 ) tend to be popular with investors, and for good reason...
分析記事 • Dec 10Zen Voce (GTSM:3581) Seems To Use Debt Rather SparinglyThe external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...
Is New 90 Day High Low • Dec 09New 90-day high: NT$23.20The company is up 7.0% from its price of NT$21.70 on 11 September 2020. The Taiwanese market is up 13% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Semiconductor industry, which is up 25% over the same period.
Valuation Update With 7 Day Price Move • Dec 05Market bids up stock over the past weekAfter last week's 17% share price gain to NT$23.15, the stock is trading at a trailing P/E ratio of 19.7x, up from the previous P/E ratio of 16.9x. This compares to an average P/E of 25x in the Semiconductor industry in Taiwan. Total returns to shareholders over the past three years are 14%.
分析記事 • Nov 22Are Zen Voce's (GTSM:3581) Statutory Earnings A Good Guide To Its Underlying Profitability?As a general rule, we think profitable companies are less risky than companies that lose money. Having said that...
Reported Earnings • Nov 15Third quarter 2020 earnings released: EPS NT$0.25The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2020 results: Revenue: NT$293.9m (down 3.4% from 3Q 2019). Net income: NT$12.7m (down 42% from 3Q 2019). Profit margin: 4.3% (down from 7.2% in 3Q 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings.
