Chang Wah Technology（6548）株式概要Chang Wah Technology Co., Ltd.は、台湾、アジア、および国際的にLEDリードフレームおよび成形コンパウンド材料の開発、製造、販売を行っています。 詳細6548 ファンダメンタル分析スノーフレーク・スコア評価2/6将来の成長5/6過去の実績1/6財務の健全性5/6配当金2/6報酬株価収益率（ 48.9 x）は、 Semiconductor業界平均（ 49.8 x）を下回っています。収益は年間44.23%増加すると予測されています リスク分析2.18%の配当は、利益やフリーキャッシュフローによって十分にカバーされていない TW市場と比較した過去 3 か月間の株価の変動すべてのリスクチェックを見る6548 Community Fair Values Create NarrativeSee what others think this stock is worth. Follow their fair value or set your own to get alerts.Your Fair ValueNT$Current PriceNT$82.4039.0% 割安 内在価値ディスカウントGrowth estimate overAnnual revenue growth rate5 Yearstime period%/yrDecreaseIncreasePastFuture037b2016201920222025202620282031Revenue NT$37.1bEarnings NT$4.1bAdvancedSet Fair ValueView all narrativesChang Wah Technology Co., Ltd. 競合他社Sino-American Silicon ProductsSymbol: TPEX:5483Market cap: NT$121.6bTopco ScientificLtdSymbol: TWSE:5434Market cap: NT$102.5bVisual Photonics EpitaxySymbol: TWSE:2455Market cap: NT$66.3bV5 TechnologiesSymbol: TWSE:7822Market cap: NT$52.2b価格と性能株価の高値、安値、推移の概要Chang Wah Technology過去の株価現在の株価NT$82.4052週高値NT$104.0052週安値NT$30.00ベータ0.781ヶ月の変化9.87%3ヶ月変化79.13%1年変化165.81%3年間の変化84.96%5年間の変化125.38%IPOからの変化3,915.59%最新ニュースValuation Update With 7 Day Price Move • Jun 11Investor sentiment deteriorates as stock falls 15%After last week's 15% share price decline to NT$82.90, the stock trades at a forward P/E ratio of 30x. Average forward P/E is 27x in the Semiconductor industry in Taiwan. Total returns to shareholders of 122% over the past three years.Upcoming Dividend • Jun 10Upcoming dividend of NT$0.45 per shareEligible shareholders must have bought the stock before 17 June 2026. Payment date: 15 July 2026. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 2.2%. Lower than top quartile of Taiwanese dividend payers (4.9%). Higher than average of industry peers (1.0%).Price Target Changed • Jun 09Price target increased by 12% to NT$72.00Up from NT$64.50, the current price target is an average from 3 analysts. New target price is 17% below last closing price of NT$86.50. Stock is up 167% over the past year. The company is forecast to post earnings per share of NT$2.47 for next year compared to NT$1.63 last year.New Risk • May 28New major risk - Dividend sustainabilityThe dividend is not well covered by earnings and cash flows. Payout ratio: 106% Cash payout ratio: 308% Dividend yield: 2.7% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 106% Cash payout ratio: 308% Earnings have declined by 1.5% per year over the past 5 years.Valuation Update With 7 Day Price Move • May 26Investor sentiment improves as stock rises 24%After last week's 24% share price gain to NT$60.30, the stock trades at a trailing P/E ratio of 35.8x. Average forward P/E is 30x in the Semiconductor industry in Taiwan. Total returns to shareholders of 64% over the past three years.Reported Earnings • May 06First quarter 2026 earnings released: EPS: NT$0.51 (vs NT$0.45 in 1Q 2025)First quarter 2026 results: EPS: NT$0.51 (up from NT$0.45 in 1Q 2025). Revenue: NT$3.67b (up 16% from 1Q 2025). Net income: NT$469.0m (up 12% from 1Q 2025). Profit margin: 13% (in line with 1Q 2025). Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings.最新情報をもっと見るRecent updatesValuation Update With 7 Day Price Move • Jun 11Investor sentiment deteriorates as stock falls 15%After last week's 15% share price decline to NT$82.90, the stock trades at a forward P/E ratio of 30x. Average forward P/E is 27x in the Semiconductor industry in Taiwan. Total returns to shareholders of 122% over the past three years.Upcoming Dividend • Jun 10Upcoming dividend of NT$0.45 per shareEligible shareholders must have bought the stock before 17 June 2026. Payment date: 15 July 2026. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 2.2%. Lower than top quartile of Taiwanese dividend payers (4.9%). Higher than average of industry peers (1.0%).Price Target Changed • Jun 09Price target increased by 12% to NT$72.00Up from NT$64.50, the current price target is an average from 3 analysts. New target price is 17% below last closing price of NT$86.50. Stock is up 167% over the past year. The company is forecast to post earnings per share of NT$2.47 for next year compared to NT$1.63 last year.New Risk • May 28New major risk - Dividend sustainabilityThe dividend is not well covered by earnings and cash flows. Payout ratio: 106% Cash payout ratio: 308% Dividend yield: 2.7% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 106% Cash payout ratio: 308% Earnings have declined by 1.5% per year over the past 5 years.Valuation Update With 7 Day Price Move • May 26Investor sentiment improves as stock rises 24%After last week's 24% share price gain to NT$60.30, the stock trades at a trailing P/E ratio of 35.8x. Average forward P/E is 30x in the Semiconductor industry in Taiwan. Total returns to shareholders of 64% over the past three years.Reported Earnings • May 06First quarter 2026 earnings released: EPS: NT$0.51 (vs NT$0.45 in 1Q 2025)First quarter 2026 results: EPS: NT$0.51 (up from NT$0.45 in 1Q 2025). Revenue: NT$3.67b (up 16% from 1Q 2025). Net income: NT$469.0m (up 12% from 1Q 2025). Profit margin: 13% (in line with 1Q 2025). Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings.Valuation Update With 7 Day Price Move • Apr 22Investor sentiment improves as stock rises 23%After last week's 23% share price gain to NT$61.10, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 27x in the Semiconductor industry in Taiwan. Total returns to shareholders of 69% over the past three years.Upcoming Dividend • Mar 13Upcoming dividend of NT$0.45 per shareEligible shareholders must have bought the stock before 20 March 2026. Payment date: 15 April 2026. Payout ratio is on the higher end at 80%, and the cash payout ratio is above 100%. Trailing yield: 3.7%. Lower than top quartile of Taiwanese dividend payers (5.3%). Higher than average of industry peers (1.4%).Reported Earnings • Mar 11Full year 2025 earnings: EPS exceeds analyst expectationsFull year 2025 results: EPS: NT$1.63 (down from NT$2.03 in FY 2024). Revenue: NT$13.4b (up 12% from FY 2024). Net income: NT$1.50b (down 21% from FY 2024). Profit margin: 11% (down from 16% in FY 2024). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 3.2%. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings.お知らせ • Feb 13Chang Wah Technology Co., Ltd., Annual General Meeting, Jun 09, 2026Chang Wah Technology Co., Ltd., Annual General Meeting, Jun 09, 2026. Location: no,2, jen fa 6th rd., renwu district, kaohsiung city TaiwanValuation Update With 7 Day Price Move • Jan 22Investor sentiment improves as stock rises 22%After last week's 22% share price gain to NT$58.60, the stock trades at a forward P/E ratio of 28x. Average forward P/E is 25x in the Semiconductor industry in Taiwan. Total returns to shareholders of 119% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$33.40 per share.Upcoming Dividend • Dec 11Upcoming dividend of NT$0.45 per shareEligible shareholders must have bought the stock before 18 December 2025. Payment date: 14 January 2026. Payout ratio is on the higher end at 80%, and the cash payout ratio is above 100%. Trailing yield: 4.2%. Lower than top quartile of Taiwanese dividend payers (5.5%). Higher than average of industry peers (1.5%).New Risk • Dec 04New 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 6.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (167% cash payout ratio). Share price has been volatile over the past 3 months (6.4% average weekly change).Valuation Update With 7 Day Price Move • Nov 12Investor sentiment improves as stock rises 17%After last week's 17% share price gain to NT$47.70, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 23x in the Semiconductor industry in Taiwan. Total returns to shareholders of 72% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$30.86 per share.Reported Earnings • Nov 06Third quarter 2025 earnings: EPS exceeds analyst expectationsThird quarter 2025 results: EPS: NT$0.56 (up from NT$0.45 in 3Q 2024). Revenue: NT$3.50b (up 12% from 3Q 2024). Net income: NT$514.4m (up 21% from 3Q 2024). Profit margin: 15% (up from 14% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 3.7%. Revenue is forecast to grow 8.9% p.a. on average during the next 2 years, compared to a 16% growth forecast for the Semiconductor industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings.Major Estimate Revision • Oct 31Consensus EPS estimates increase by 16%The consensus outlook for earnings per share (EPS) in fiscal year 2025 has improved. 2025 revenue forecast increased from NT$13.2b to NT$13.4b. EPS estimate increased from NT$1.37 to NT$1.59 per share. Net income forecast to grow 18% next year vs 27% growth forecast for Semiconductor industry in Taiwan. Consensus price target up from NT$38.07 to NT$44.00. Share price rose 9.1% to NT$40.35 over the past week.Price Target Changed • Oct 30Price target increased by 10% to NT$44.00Up from NT$40.00, the current price target is an average from 3 analysts. New target price is 14% above last closing price of NT$38.70. Stock is up 5.9% over the past year. The company is forecast to post earnings per share of NT$1.59 for next year compared to NT$2.02 last year.Valuation Update With 7 Day Price Move • Oct 08Investor sentiment improves as stock rises 15%After last week's 15% share price gain to NT$39.25, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 26x in the Semiconductor industry in Taiwan. Total returns to shareholders of 46% over the past three years.Reported Earnings • Aug 10Second quarter 2025 earnings: EPS misses analyst expectationsSecond quarter 2025 results: EPS: NT$0.11 (down from NT$0.54 in 2Q 2024). Revenue: NT$3.25b (up 10.0% from 2Q 2024). Net income: NT$101.7m (down 80% from 2Q 2024). Profit margin: 3.1% (down from 17% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 69%. Revenue is forecast to grow 7.0% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Semiconductor industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings.Major Estimate Revision • Aug 01Consensus EPS estimates fall by 25%The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from NT$13.2b to NT$12.9b. EPS estimate also fell from NT$1.83 per share to NT$1.37 per share. Net income forecast to shrink 26% next year vs 13% growth forecast for Semiconductor industry in Taiwan . Consensus price target down from NT$40.00 to NT$38.07. Share price fell 3.1% to NT$30.90 over the past week.Upcoming Dividend • Jun 12Upcoming dividend of NT$0.46 per shareEligible shareholders must have bought the stock before 19 June 2025. Payment date: 16 July 2025. The company last paid an ordinary dividend in April 2016. The average dividend yield among industry peers is 2.3%.Reported Earnings • May 08First quarter 2025 earnings: Revenues and EPS in line with analyst expectationsFirst quarter 2025 results: EPS: NT$0.45 (down from NT$0.47 in 1Q 2024). Revenue: NT$3.18b (up 16% from 1Q 2024). Net income: NT$417.1m (down 4.5% from 1Q 2024). Profit margin: 13% (down from 16% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 8.6% p.a. on average during the next 2 years, compared to a 14% growth forecast for the Semiconductor industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings.New Risk • May 04New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 8.1% per year for the foreseeable future. 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 expected to decline, then in most cases the share price will decline over time as well. 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 are forecast to decline by an average of 8.1% per year for the foreseeable future. Minor Risk Dividend is not well covered by cash flows (116% cash payout ratio).Valuation Update With 7 Day Price Move • Apr 08Investor sentiment deteriorates as stock falls 16%After last week's 16% share price decline to NT$30.00, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 18x in the Semiconductor industry in Taiwan. Total loss to shareholders of 11% over the past three years.Upcoming Dividend • Mar 06Upcoming dividend of NT$0.45 per shareEligible shareholders must have bought the stock before 13 March 2025. Payment date: 16 April 2025. Payout ratio is on the higher end at 95%, and the cash payout ratio is above 100%. Trailing yield: 5.3%. Within top quartile of Taiwanese dividend payers (4.3%). Higher than average of industry peers (2.1%).お知らせ • Feb 21Chang Wah Technology Co., Ltd., Annual General Meeting, May 28, 2025Chang Wah Technology Co., Ltd., Annual General Meeting, May 28, 2025, at 10:00 Taipei Standard Time. Location: no,2, jen fa 6th rd., renwu district, kaohsiung city TaiwanPrice Target Changed • Dec 25Price target increased by 8.8% to NT$46.00Up from NT$42.27, the current price target is an average from 2 analysts. New target price is 39% above last closing price of NT$33.20. Stock is down 2.4% over the past year. The company is forecast to post earnings per share of NT$1.92 for next year compared to NT$1.67 last year.Upcoming Dividend • Dec 12Upcoming dividend of NT$0.41 per shareEligible shareholders must have bought the stock before 19 December 2024. Payment date: 15 January 2025. Payout ratio is on the higher end at 95%, and the cash payout ratio is above 100%. Trailing yield: 5.2%. Within top quartile of Taiwanese dividend payers (4.5%). Higher than average of industry peers (2.1%).Reported Earnings • Nov 06Third quarter 2024 earnings: EPS misses analyst expectationsThird quarter 2024 results: EPS: NT$0.45 (up from NT$0.45 in 3Q 2023). Revenue: NT$3.13b (up 10% from 3Q 2023). Net income: NT$424.6m (up 1.0% from 3Q 2023). Profit margin: 14% (down from 15% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 12%. Revenue is forecast to grow 9.6% p.a. on average during the next 2 years, compared to a 17% growth forecast for the Semiconductor industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings.Upcoming Dividend • Sep 12Upcoming dividend of NT$0.41 per shareEligible shareholders must have bought the stock before 19 September 2024. Payment date: 16 October 2024. Payout ratio is on the higher end at 93%, and the cash payout ratio is above 100%. Trailing yield: 4.4%. Lower than top quartile of Taiwanese dividend payers (4.5%). Higher than average of industry peers (2.2%).Reported Earnings • Aug 16Second quarter 2024 earnings: EPS exceeds analyst expectationsSecond quarter 2024 results: EPS: NT$0.54 (up from NT$0.52 in 2Q 2023). Revenue: NT$2.95b (down 1.3% from 2Q 2023). Net income: NT$508.2m (up 5.0% from 2Q 2023). Profit margin: 17% (in line with 2Q 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 9.1%. Revenue is forecast to grow 9.6% p.a. on average during the next 2 years, compared to a 16% growth forecast for the Semiconductor industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has remained flat.Upcoming Dividend • Jun 17Upcoming dividend of NT$0.41 per shareEligible shareholders must have bought the stock before 24 June 2024. Payment date: 17 July 2024. Payout ratio and cash payout ratio are on the higher end at 93% and 84% respectively. Trailing yield: 4.0%. Lower than top quartile of Taiwanese dividend payers (4.2%). Higher than average of industry peers (2.1%).Reported Earnings • May 18First quarter 2024 earnings released: EPS: NT$0.47 (vs NT$0.41 in 1Q 2023)First quarter 2024 results: EPS: NT$0.47 (up from NT$0.41 in 1Q 2023). Revenue: NT$2.74b (down 3.3% from 1Q 2023). Net income: NT$436.9m (up 15% from 1Q 2023). Profit margin: 16% (up from 13% in 1Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 7.0% p.a. on average during the next 2 years, compared to a 16% growth forecast for the Semiconductor industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 19% per year, which means it is tracking significantly ahead of earnings growth.Major Estimate Revision • Apr 25Consensus EPS estimates increase by 30%The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate increased from NT$1.59 to NT$2.06. Revenue forecast steady at NT$12.6b. Net income forecast to grow 16% next year vs 27% growth forecast for Semiconductor industry in Taiwan. Consensus price target up from NT$38.92 to NT$42.27. Share price rose 9.5% to NT$40.50 over the past week.Reported Earnings • Mar 19Full year 2023 earnings: EPS exceeds analyst expectationsFull year 2023 results: EPS: NT$1.67 (down from NT$3.01 in FY 2022). Revenue: NT$11.6b (down 20% from FY 2022). Net income: NT$1.56b (down 44% from FY 2022). Profit margin: 14% (down from 20% in FY 2022). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 1.2%. Revenue is forecast to grow 5.6% p.a. on average during the next 2 years, compared to a 14% growth forecast for the Semiconductor industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 22% 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 • Mar 07Upcoming dividend of NT$0.40 per shareEligible shareholders must have bought the stock before 14 March 2024. Payment date: 10 April 2024. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 4.7%. Lower than top quartile of Taiwanese dividend payers (4.9%). Higher than average of industry peers (2.5%).お知らせ • Feb 22Chang Wah Technology Co., Ltd., Annual General Meeting, May 30, 2024Chang Wah Technology Co., Ltd., Annual General Meeting, May 30, 2024.New Risk • Feb 02New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 8.7% per year for the foreseeable future. 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 expected to decline, then in most cases the share price will decline over time as well. 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 are forecast to decline by an average of 8.7% per year for the foreseeable future. Minor Risks Dividend is not well covered by earnings (112% payout ratio). Profit margins are more than 30% lower than last year (14% net profit margin).Upcoming Dividend • Dec 14Upcoming dividend of NT$0.40 per share at 4.7% yieldEligible shareholders must have bought the stock before 21 December 2023. Payment date: 17 January 2024. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 4.7%. Lower than top quartile of Taiwanese dividend payers (5.2%). Higher than average of industry peers (3.2%).New Risk • Nov 22New minor risk - Profit margin trendThe company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 14% Last year net profit margin: 20% 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: 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 (14% net profit margin).Major Estimate Revision • Nov 02Consensus EPS estimates fall by 21%The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from NT$11.6b to NT$11.3b. EPS estimate also fell from NT$1.97 per share to NT$1.55 per share. Net income forecast to shrink 27% next year vs 8.5% growth forecast for Semiconductor industry in Taiwan . Consensus price target down from NT$45.00 to NT$40.00. Share price was steady at NT$31.80 over the past week.Upcoming Dividend • Sep 14Upcoming dividend of NT$0.40 per share at 4.5% yieldEligible shareholders must have bought the stock before 21 September 2023. Payment date: 18 October 2023. Payout ratio is on the higher end at 86%, however this is supported by cash flows. Trailing yield: 4.5%. Lower than top quartile of Taiwanese dividend payers (5.5%). Higher than average of industry peers (3.3%).Reported Earnings • Aug 09Second quarter 2023 earnings released: EPS: NT$0.52 (vs NT$0.84 in 2Q 2022)Second quarter 2023 results: EPS: NT$0.52 (down from NT$0.84 in 2Q 2022). Revenue: NT$2.99b (down 21% from 2Q 2022). Net income: NT$484.1m (down 38% from 2Q 2022). Profit margin: 16% (down from 21% in 2Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 7.2% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Semiconductor industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has only increased by 31% per year, which means it is significantly lagging earnings growth.New Risk • Jul 28New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 11% per year for the foreseeable future. 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 expected to decline, then in most cases the share price will decline over time as well. 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 are forecast to decline by an average of 11% per year for the foreseeable future. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past.Valuation Update With 7 Day Price Move • Jul 13Investor sentiment deteriorates as stock falls 19%After last week's 19% share price decline to NT$35.80, the stock trades at a trailing P/E ratio of 13.5x. Average forward P/E is 20x in the Semiconductor industry in Taiwan. Total returns to shareholders of 217% over the past three years.Upcoming Dividend • Jun 01Upcoming dividend of NT$0.81 per share at 3.8% yieldEligible shareholders must have bought the stock before 08 June 2023. Payment date: 12 July 2023. Payout ratio is a comfortable 50% and this is well supported by cash flows. Trailing yield: 3.8%. Lower than top quartile of Taiwanese dividend payers (5.6%). Higher than average of industry peers (3.3%).Major Estimate Revision • May 09Consensus EPS estimates fall by 12%The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from NT$13.2b to NT$13.0b. EPS estimate also fell from NT$2.12 per share to NT$1.87 per share. Net income forecast to shrink 36% next year vs 18% decline forecast for Semiconductor industry in Taiwan. Consensus price target up from NT$38.00 to NT$45.00. Share price fell 2.5% to NT$41.35 over the past week.Price Target Changed • May 08Price target increased by 20% to NT$45.00Up from NT$37.60, the current price target is provided by 1 analyst. New target price is 8.8% above last closing price of NT$41.35. Stock is up 19% over the past year. The company is forecast to post earnings per share of NT$1.87 for next year compared to NT$3.01 last year.Reported Earnings • Mar 18Full year 2022 earnings: Revenues exceed analysts expectations while EPS lags behindFull year 2022 results: EPS: NT$3.01 (up from NT$1.92 in FY 2021). Revenue: NT$14.4b (up 13% from FY 2021). Net income: NT$2.82b (up 64% from FY 2021). Profit margin: 20% (up from 13% in FY 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.2%. Earnings per share (EPS) missed analyst estimates by 1.6%. Over the last 3 years on average, earnings per share has increased by 58% per year but the company’s share price has increased by 74% per year, which means it is tracking significantly ahead of earnings growth.Valuation Update With 7 Day Price Move • Mar 08Investor sentiment improves as stock rises 18%After last week's 18% share price gain to NT$40.45, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 17x in the Semiconductor industry in Taiwan. Total returns to shareholders of 317% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$24.90 per share.Upcoming Dividend • Dec 08Upcoming dividend of NT$0.70 per shareEligible shareholders must have bought the stock before 15 December 2022. Payment date: 11 January 2023. Payout ratio is a comfortable 43% and this is well supported by cash flows. Trailing yield: 4.4%. Lower than top quartile of Taiwanese dividend payers (6.8%). Higher than average of industry peers (3.7%).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 an independent director. The company's board is composed of: 1 new director. 3 experienced directors. 3 highly experienced directors. 3 independent directors (4 non-independent directors). Independent Director Jia-Ruey Ou was the last independent director to join the board, commencing their role in 2021. 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 06Third quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behindThird quarter 2022 results: EPS: NT$1.01 (up from NT$0.64 in 3Q 2021). Revenue: NT$3.68b (up 11% from 3Q 2021). Net income: NT$939.3m (up 64% from 3Q 2021). Profit margin: 26% (up from 17% in 3Q 2021). Revenue missed analyst estimates by 2.5%. Earnings per share (EPS) exceeded analyst estimates by 41%. Revenue is expected to decline by 2.4% p.a. on average during the next 2 years, while revenues in the Semiconductor industry in Taiwan are expected to grow by 9.9%. Over the last 3 years on average, earnings per share has increased by 58% per year but the company’s share price has only increased by 27% per year, which means it is significantly lagging earnings growth.Price Target Changed • Oct 23Price target decreased to NT$34.00Down from NT$37.60, the current price target is provided by 1 analyst. New target price is 13% above last closing price of NT$30.10. Stock is down 26% over the past year. The company is forecast to post earnings per share of NT$3.07 for next year compared to NT$1.92 last year.Valuation Update With 7 Day Price Move • Oct 05Investor sentiment improved over the past weekAfter last week's 22% share price gain to NT$34.35, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 10x in the Semiconductor industry in Taiwan. Total returns to shareholders of 168% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$32.77 per share.Reported Earnings • Aug 07Second quarter 2022 earnings: EPS exceeds analyst expectationsSecond quarter 2022 results: EPS: NT$2.09 (up from NT$0.88 in 2Q 2021). Revenue: NT$3.78b (up 23% from 2Q 2021). Net income: NT$784.8m (up 152% from 2Q 2021). Profit margin: 21% (up from 10% in 2Q 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 2.5%. Over the next year, revenue is forecast to grow 4.9%, compared to a 21% growth forecast for the industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 52% per year but the company’s share price has only increased by 41% per year, which means it is significantly lagging earnings growth.Upcoming Dividend • Jun 10Upcoming dividend of NT$1.72 per shareEligible shareholders must have bought the stock before 17 June 2022. Payment date: 13 July 2022. Payout ratio is a comfortable 50% and this is well supported by cash flows. Trailing yield: 2.6%. Lower than top quartile of Taiwanese dividend payers (5.9%). Lower than average of industry peers (3.0%).Reported Earnings • May 09First quarter 2022 earnings: EPS and revenues exceed analyst expectationsFirst quarter 2022 results: EPS: NT$1.87 (up from NT$0.67 in 1Q 2021). Revenue: NT$3.63b (up 34% from 1Q 2021). Net income: NT$701.7m (up 196% from 1Q 2021). Profit margin: 19% (up from 8.7% in 1Q 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.9%. Earnings per share (EPS) also surpassed analyst estimates by 13%. Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has increased by 52% per year, which means it is tracking significantly ahead of earnings growth.Price Target Changed • Apr 27Price target decreased to NT$108Down from NT$120, the current price target is provided by 1 analyst. New target price is 17% above last closing price of NT$92.60. Stock is up 28% over the past year. The company is forecast to post earnings per share of NT$7.15 for next year compared to NT$4.81 last year.Board Change • Apr 27Less than half of directors are independentNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 5 highly experienced directors. 3 independent directors (6 non-independent directors). Independent Director Ren-Lin Lin was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.Price Target Changed • Apr 20Price target decreased to NT$108Down from NT$120, the current price target is provided by 1 analyst. New target price is 9.1% above last closing price of NT$99.00. Stock is up 36% over the past year. The company is forecast to post earnings per share of NT$7.15 for next year compared to NT$4.81 last year.Reported Earnings • Mar 19Full year 2021 earnings: EPS exceeds analyst expectationsFull year 2021 results: EPS: NT$4.81 (up from NT$2.19 in FY 2020). Revenue: NT$12.8b (up 32% from FY 2020). Net income: NT$1.71b (up 122% from FY 2020). Profit margin: 13% (up from 8.0% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 4.8%. Over the next year, revenue is forecast to grow 20%, compared to a 24% growth forecast for the industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has increased by 51% per year, which means it is tracking significantly ahead of earnings growth.Upcoming Dividend • Dec 02Upcoming dividend of NT$0.68 per shareEligible shareholders must have bought the stock before 09 December 2021. Payment date: 12 January 2022. Trailing yield: 1.6%. Lower than top quartile of Taiwanese dividend payers (5.1%). Lower than average of industry peers (2.1%).Reported Earnings • Nov 10Third quarter 2021 earnings released: EPS NT$1.61 (vs NT$0.78 in 3Q 2020)The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$3.33b (up 39% from 3Q 2020). Net income: NT$571.6m (up 107% from 3Q 2020). Profit margin: 17% (up from 12% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has increased by 55% per year, which means it is tracking significantly ahead of earnings growth.Reported Earnings • Aug 09Second quarter 2021 earnings released: EPS NT$0.88 (vs NT$0.57 in 2Q 2020)The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: NT$3.07b (up 26% from 2Q 2020). Net income: NT$311.3m (up 55% from 2Q 2020). Profit margin: 10% (up from 8.2% 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 2% per year but the company’s share price has increased by 41% per year, which means it is tracking significantly ahead of earnings growth.Valuation Update With 7 Day Price Move • Jul 07Investor sentiment improved over the past weekAfter last week's 23% share price gain to NT$91.40, the stock trades at a trailing P/E ratio of 36.6x. Average forward P/E is 17x in the Semiconductor industry in Taiwan. Total returns to shareholders of 165% over the past three years.Upcoming Dividend • Jun 08Upcoming dividend of NT$0.92 per shareEligible shareholders must have bought the stock before 15 June 2021. Payment date: 14 July 2021. Trailing yield: 2.0%. Lower than top quartile of Taiwanese dividend payers (5.0%). In line with average of industry peers (2.1%).Reported Earnings • May 08First quarter 2021 earnings released: EPS NT$0.67 (vs NT$0.36 in 1Q 2020)The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$2.72b (up 26% from 1Q 2020). Net income: NT$237.3m (up 86% from 1Q 2020). Profit margin: 8.7% (up from 5.9% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 18% per year, which means it is well ahead of earnings.分析記事 • Apr 19Chang Wah Technology (GTSM:6548) Has A Pretty Healthy Balance SheetWarren Buffett famously said, 'Volatility is far from synonymous with risk.' It's only natural to consider a company's...分析記事 • Apr 01Chang Wah Technology's (GTSM:6548) Solid Profits Have Weak FundamentalsChang Wah Technology Co., Ltd. ( GTSM:6548 ) just reported some strong earnings, and the market rewarded them with a...お知らせ • Mar 19Chang Wah Technology Co., Ltd., Annual General Meeting, Jun 07, 2021Chang Wah Technology Co., Ltd., Annual General Meeting, Jun 07, 2021.分析記事 • Mar 19Should We Be Excited About The Trends Of Returns At Chang Wah Technology (GTSM:6548)?If we want to find a potential multi-bagger, often there are underlying trends that can provide clues. Firstly, we'd...Reported Earnings • Mar 18Full year 2020 earnings released: EPS NT$2.19 (vs NT$1.72 in FY 2019)The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$9.68b (up 3.8% from FY 2019). Net income: NT$773.8m (up 27% from FY 2019). Profit margin: 8.0% (up from 6.5% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 19% per year, which means it is well ahead of earnings.分析記事 • Mar 03What Is Chang Wah Technology Co., Ltd.'s (GTSM:6548) Share Price Doing?While Chang Wah Technology Co., Ltd. ( GTSM:6548 ) might not be the most widely known stock at the moment, it saw a...Is New 90 Day High Low • Feb 18New 90-day high: NT$68.70The company is up 44% from its price of NT$47.55 on 20 November 2020. The Taiwanese market is up 18% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Semiconductor industry, which is up 35% over the same period.分析記事 • Feb 16Shareholders of Chang Wah Technology (GTSM:6548) Must Be Delighted With Their 835% Total ReturnBuying shares in the best businesses can build meaningful wealth for you and your family. And we've seen some truly...分析記事 • Jan 28Are Robust Financials Driving The Recent Rally In Chang Wah Technology Co., Ltd.'s (GTSM:6548) Stock?Most readers would already be aware that Chang Wah Technology's (GTSM:6548) stock increased significantly by 38% over...Is New 90 Day High Low • Jan 25New 90-day high: NT$66.00The company is up 37% from its price of NT$48.15 on 28 October 2020. The Taiwanese market is up 23% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Semiconductor industry, which is up 43% over the same period.分析記事 • Jan 13Is Chang Wah Technology Co., Ltd. (GTSM:6548) A Smart Choice For Dividend Investors?Dividend paying stocks like Chang Wah Technology Co., Ltd. ( GTSM:6548 ) tend to be popular with investors, and for...Is New 90 Day High Low • Jan 07New 90-day high: NT$64.00The company is up 61% from its price of NT$39.70 on 08 October 2020. The Taiwanese market is up 16% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Semiconductor industry, which is up 23% over the same period.分析記事 • Dec 29Does Chang Wah Technology (GTSM:6548) Have A Healthy Balance Sheet?Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...分析記事 • Dec 12Chang Wah Technology Co., Ltd. (GTSM:6548) Will Pay A NT$0.40 Dividend In Three DaysRegular readers will know that we love our dividends at Simply Wall St, which is why it's exciting to see Chang Wah...Upcoming Dividend • Dec 10Upcoming Dividend of NT$0.40 Per ShareWill be paid on the 13th of January to those who are registered shareholders by the 17th of December. The trailing yield of 3.0% is below the top quartile of Taiwanese dividend payers (5.1%), but it is higher than industry peers (2.0%).分析記事 • Dec 09Returns On Capital At Chang Wah Technology (GTSM:6548) Paint An Interesting PictureTo find a multi-bagger stock, what are the underlying trends we should look for in a business? One common approach is...Valuation Update With 7 Day Price Move • Dec 01Market bids up stock over the past weekAfter last week's 24% share price gain to NT$59.50, the stock is trading at a trailing P/E ratio of 27.7x, up from the previous P/E ratio of 22.3x. This compares to an average P/E of 24x in the Semiconductor industry in Taiwan. Total returns to shareholders over the past three years are 62%.Is New 90 Day High Low • Nov 27New 90-day high: NT$49.25The company is up 28% from its price of NT$38.50 on 28 August 2020. The Taiwanese market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Semiconductor industry, which is up 15% over the same period.分析記事 • Nov 17Is Now An Opportune Moment To Examine Chang Wah Technology Co., Ltd. (GTSM:6548)?While Chang Wah Technology Co., Ltd. (GTSM:6548) might not be the most widely known stock at the moment, it saw a...Reported Earnings • Nov 10Third quarter 2020 earnings released: EPS NT$0.78The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2020 results: Revenue: NT$2.40b (down 2.8% from 3Q 2019). Net income: NT$275.8m (up 50% from 3Q 2019). Profit margin: 12% (up from 7.4% in 3Q 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 6% per year whereas the company’s share price has increased by 3% per year.Valuation Update With 7 Day Price Move • Oct 26Market bids up stock over the past weekAfter last week's 18% share price gain to NT$48.20, the stock is trading at a trailing P/E ratio of 25.5x, up from the previous P/E ratio of 21.7x. This compares to an average P/E of 23x in the Semiconductor industry in Taiwan. Total returns to shareholders over the past three years are 35%.Is New 90 Day High Low • Oct 15New 90-day high: NT$42.60The company is up 40% from its price of NT$30.40 on 17 July 2020. The Taiwanese market is up 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Semiconductor industry, which is up 21% over the same period.株主還元6548TW SemiconductorTW 市場7D-10.0%-3.3%-2.2%1Y165.8%142.9%102.6%株主還元を見る業界別リターン: 6548過去 1 年間で142.9 % 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: 6548過去 1 年間で102.6 % の収益を上げたTW市場を上回りました。価格変動Is 6548's price volatile compared to industry and market?6548 volatility6548 Average Weekly Movement10.8%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: 6548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: 6548の weekly volatility ( 11% ) 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2009n/aQuancheng Hongwww.cwtcglobal.comChang Wah Technology Co., Ltd.は、台湾、アジア、および海外でLEDリードフレームおよび成形コンパウンド材料の開発、製造、販売を行っている。Ltd.、CWTC（Shanghai）Inc.（CWTS）、SH Asia Pacific Pte Ltd.、SHAP.(Ltd.（SHAP）、Shing Zheng Investment Co.(SHEC）、SH Precision Chengdu Co.(SHEC）、SH Precision Chengdu Co.(Ltd.（SHPC）、SH Electronics Suzhou Co.(Ltd.（SHEC）、SH Precision Chengdu Co.(WSP)、上海長華電材股份有限公司(CWES)のセグメントである。同社は、工業用プラスチック製品および電子部品、ICリードおよびICノンリードリードフレーム、EMCおよびプリモールドリードフレーム、粗面化および酸化表面めっき処理、樹脂材料、半導体材料を提供している。また、機械工具、照明材料・機器、通信機器、半導体材料・機器、エレクトロニクス製品の販売も行っている。さらに、投資活動、電子部品・エレクトロニクスの取引、ICパッケージ材料・機器の代理店業務も行っている。2009年に法人化され、本社は台湾の高雄市にある。もっと見るChang Wah Technology Co., Ltd. 基礎のまとめChang Wah Technology の収益と売上を時価総額と比較するとどうか。6548 基礎統計学時価総額NT$76.06b収益（TTM）NT$1.56b売上高(TTM)NT$13.92b48.9xPER（株価収益率5.5xP/Sレシオ6548 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6548 損益計算書（TTM）収益NT$13.92b売上原価NT$10.91b売上総利益NT$3.01bその他の費用NT$1.45b収益NT$1.56b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）1.68グロス・マージン21.61%純利益率11.17%有利子負債／自己資本比率66.8%6548 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2.2%現在の配当利回り106%配当性向6548 配当は確実ですか？6548 配当履歴とベンチマークを見る6548 、いつまでに購入すれば配当金を受け取れますか？Chang Wah Technology 配当日配当落ち日Jun 17 2026配当支払日Jul 15 2026配当落ちまでの日数15 days配当支払日までの日数13 days6548 配当は確実ですか？6548 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2026/07/01 22:44終値2026/07/01 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Chang Wah Technology Co., Ltd. 1 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。3 アナリスト機関Licheng ZhuangCapital Securities CorporationJason WangMasterlink Securities Investment AdvisorySi FuSinoPac Securities Investment Service
Valuation Update With 7 Day Price Move • Jun 11Investor sentiment deteriorates as stock falls 15%After last week's 15% share price decline to NT$82.90, the stock trades at a forward P/E ratio of 30x. Average forward P/E is 27x in the Semiconductor industry in Taiwan. Total returns to shareholders of 122% over the past three years.
Upcoming Dividend • Jun 10Upcoming dividend of NT$0.45 per shareEligible shareholders must have bought the stock before 17 June 2026. Payment date: 15 July 2026. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 2.2%. Lower than top quartile of Taiwanese dividend payers (4.9%). Higher than average of industry peers (1.0%).
Price Target Changed • Jun 09Price target increased by 12% to NT$72.00Up from NT$64.50, the current price target is an average from 3 analysts. New target price is 17% below last closing price of NT$86.50. Stock is up 167% over the past year. The company is forecast to post earnings per share of NT$2.47 for next year compared to NT$1.63 last year.
New Risk • May 28New major risk - Dividend sustainabilityThe dividend is not well covered by earnings and cash flows. Payout ratio: 106% Cash payout ratio: 308% Dividend yield: 2.7% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 106% Cash payout ratio: 308% Earnings have declined by 1.5% per year over the past 5 years.
Valuation Update With 7 Day Price Move • May 26Investor sentiment improves as stock rises 24%After last week's 24% share price gain to NT$60.30, the stock trades at a trailing P/E ratio of 35.8x. Average forward P/E is 30x in the Semiconductor industry in Taiwan. Total returns to shareholders of 64% over the past three years.
Reported Earnings • May 06First quarter 2026 earnings released: EPS: NT$0.51 (vs NT$0.45 in 1Q 2025)First quarter 2026 results: EPS: NT$0.51 (up from NT$0.45 in 1Q 2025). Revenue: NT$3.67b (up 16% from 1Q 2025). Net income: NT$469.0m (up 12% from 1Q 2025). Profit margin: 13% (in line with 1Q 2025). Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings.
Valuation Update With 7 Day Price Move • Jun 11Investor sentiment deteriorates as stock falls 15%After last week's 15% share price decline to NT$82.90, the stock trades at a forward P/E ratio of 30x. Average forward P/E is 27x in the Semiconductor industry in Taiwan. Total returns to shareholders of 122% over the past three years.
Upcoming Dividend • Jun 10Upcoming dividend of NT$0.45 per shareEligible shareholders must have bought the stock before 17 June 2026. Payment date: 15 July 2026. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 2.2%. Lower than top quartile of Taiwanese dividend payers (4.9%). Higher than average of industry peers (1.0%).
Price Target Changed • Jun 09Price target increased by 12% to NT$72.00Up from NT$64.50, the current price target is an average from 3 analysts. New target price is 17% below last closing price of NT$86.50. Stock is up 167% over the past year. The company is forecast to post earnings per share of NT$2.47 for next year compared to NT$1.63 last year.
New Risk • May 28New major risk - Dividend sustainabilityThe dividend is not well covered by earnings and cash flows. Payout ratio: 106% Cash payout ratio: 308% Dividend yield: 2.7% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 106% Cash payout ratio: 308% Earnings have declined by 1.5% per year over the past 5 years.
Valuation Update With 7 Day Price Move • May 26Investor sentiment improves as stock rises 24%After last week's 24% share price gain to NT$60.30, the stock trades at a trailing P/E ratio of 35.8x. Average forward P/E is 30x in the Semiconductor industry in Taiwan. Total returns to shareholders of 64% over the past three years.
Reported Earnings • May 06First quarter 2026 earnings released: EPS: NT$0.51 (vs NT$0.45 in 1Q 2025)First quarter 2026 results: EPS: NT$0.51 (up from NT$0.45 in 1Q 2025). Revenue: NT$3.67b (up 16% from 1Q 2025). Net income: NT$469.0m (up 12% from 1Q 2025). Profit margin: 13% (in line with 1Q 2025). Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings.
Valuation Update With 7 Day Price Move • Apr 22Investor sentiment improves as stock rises 23%After last week's 23% share price gain to NT$61.10, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 27x in the Semiconductor industry in Taiwan. Total returns to shareholders of 69% over the past three years.
Upcoming Dividend • Mar 13Upcoming dividend of NT$0.45 per shareEligible shareholders must have bought the stock before 20 March 2026. Payment date: 15 April 2026. Payout ratio is on the higher end at 80%, and the cash payout ratio is above 100%. Trailing yield: 3.7%. Lower than top quartile of Taiwanese dividend payers (5.3%). Higher than average of industry peers (1.4%).
Reported Earnings • Mar 11Full year 2025 earnings: EPS exceeds analyst expectationsFull year 2025 results: EPS: NT$1.63 (down from NT$2.03 in FY 2024). Revenue: NT$13.4b (up 12% from FY 2024). Net income: NT$1.50b (down 21% from FY 2024). Profit margin: 11% (down from 16% in FY 2024). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 3.2%. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings.
お知らせ • Feb 13Chang Wah Technology Co., Ltd., Annual General Meeting, Jun 09, 2026Chang Wah Technology Co., Ltd., Annual General Meeting, Jun 09, 2026. Location: no,2, jen fa 6th rd., renwu district, kaohsiung city Taiwan
Valuation Update With 7 Day Price Move • Jan 22Investor sentiment improves as stock rises 22%After last week's 22% share price gain to NT$58.60, the stock trades at a forward P/E ratio of 28x. Average forward P/E is 25x in the Semiconductor industry in Taiwan. Total returns to shareholders of 119% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$33.40 per share.
Upcoming Dividend • Dec 11Upcoming dividend of NT$0.45 per shareEligible shareholders must have bought the stock before 18 December 2025. Payment date: 14 January 2026. Payout ratio is on the higher end at 80%, and the cash payout ratio is above 100%. Trailing yield: 4.2%. Lower than top quartile of Taiwanese dividend payers (5.5%). Higher than average of industry peers (1.5%).
New Risk • Dec 04New 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 6.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (167% cash payout ratio). Share price has been volatile over the past 3 months (6.4% average weekly change).
Valuation Update With 7 Day Price Move • Nov 12Investor sentiment improves as stock rises 17%After last week's 17% share price gain to NT$47.70, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 23x in the Semiconductor industry in Taiwan. Total returns to shareholders of 72% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$30.86 per share.
Reported Earnings • Nov 06Third quarter 2025 earnings: EPS exceeds analyst expectationsThird quarter 2025 results: EPS: NT$0.56 (up from NT$0.45 in 3Q 2024). Revenue: NT$3.50b (up 12% from 3Q 2024). Net income: NT$514.4m (up 21% from 3Q 2024). Profit margin: 15% (up from 14% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 3.7%. Revenue is forecast to grow 8.9% p.a. on average during the next 2 years, compared to a 16% growth forecast for the Semiconductor industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings.
Major Estimate Revision • Oct 31Consensus EPS estimates increase by 16%The consensus outlook for earnings per share (EPS) in fiscal year 2025 has improved. 2025 revenue forecast increased from NT$13.2b to NT$13.4b. EPS estimate increased from NT$1.37 to NT$1.59 per share. Net income forecast to grow 18% next year vs 27% growth forecast for Semiconductor industry in Taiwan. Consensus price target up from NT$38.07 to NT$44.00. Share price rose 9.1% to NT$40.35 over the past week.
Price Target Changed • Oct 30Price target increased by 10% to NT$44.00Up from NT$40.00, the current price target is an average from 3 analysts. New target price is 14% above last closing price of NT$38.70. Stock is up 5.9% over the past year. The company is forecast to post earnings per share of NT$1.59 for next year compared to NT$2.02 last year.
Valuation Update With 7 Day Price Move • Oct 08Investor sentiment improves as stock rises 15%After last week's 15% share price gain to NT$39.25, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 26x in the Semiconductor industry in Taiwan. Total returns to shareholders of 46% over the past three years.
Reported Earnings • Aug 10Second quarter 2025 earnings: EPS misses analyst expectationsSecond quarter 2025 results: EPS: NT$0.11 (down from NT$0.54 in 2Q 2024). Revenue: NT$3.25b (up 10.0% from 2Q 2024). Net income: NT$101.7m (down 80% from 2Q 2024). Profit margin: 3.1% (down from 17% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 69%. Revenue is forecast to grow 7.0% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Semiconductor industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings.
Major Estimate Revision • Aug 01Consensus EPS estimates fall by 25%The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from NT$13.2b to NT$12.9b. EPS estimate also fell from NT$1.83 per share to NT$1.37 per share. Net income forecast to shrink 26% next year vs 13% growth forecast for Semiconductor industry in Taiwan . Consensus price target down from NT$40.00 to NT$38.07. Share price fell 3.1% to NT$30.90 over the past week.
Upcoming Dividend • Jun 12Upcoming dividend of NT$0.46 per shareEligible shareholders must have bought the stock before 19 June 2025. Payment date: 16 July 2025. The company last paid an ordinary dividend in April 2016. The average dividend yield among industry peers is 2.3%.
Reported Earnings • May 08First quarter 2025 earnings: Revenues and EPS in line with analyst expectationsFirst quarter 2025 results: EPS: NT$0.45 (down from NT$0.47 in 1Q 2024). Revenue: NT$3.18b (up 16% from 1Q 2024). Net income: NT$417.1m (down 4.5% from 1Q 2024). Profit margin: 13% (down from 16% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 8.6% p.a. on average during the next 2 years, compared to a 14% growth forecast for the Semiconductor industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings.
New Risk • May 04New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 8.1% per year for the foreseeable future. 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 expected to decline, then in most cases the share price will decline over time as well. 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 are forecast to decline by an average of 8.1% per year for the foreseeable future. Minor Risk Dividend is not well covered by cash flows (116% cash payout ratio).
Valuation Update With 7 Day Price Move • Apr 08Investor sentiment deteriorates as stock falls 16%After last week's 16% share price decline to NT$30.00, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 18x in the Semiconductor industry in Taiwan. Total loss to shareholders of 11% over the past three years.
Upcoming Dividend • Mar 06Upcoming dividend of NT$0.45 per shareEligible shareholders must have bought the stock before 13 March 2025. Payment date: 16 April 2025. Payout ratio is on the higher end at 95%, and the cash payout ratio is above 100%. Trailing yield: 5.3%. Within top quartile of Taiwanese dividend payers (4.3%). Higher than average of industry peers (2.1%).
お知らせ • Feb 21Chang Wah Technology Co., Ltd., Annual General Meeting, May 28, 2025Chang Wah Technology Co., Ltd., Annual General Meeting, May 28, 2025, at 10:00 Taipei Standard Time. Location: no,2, jen fa 6th rd., renwu district, kaohsiung city Taiwan
Price Target Changed • Dec 25Price target increased by 8.8% to NT$46.00Up from NT$42.27, the current price target is an average from 2 analysts. New target price is 39% above last closing price of NT$33.20. Stock is down 2.4% over the past year. The company is forecast to post earnings per share of NT$1.92 for next year compared to NT$1.67 last year.
Upcoming Dividend • Dec 12Upcoming dividend of NT$0.41 per shareEligible shareholders must have bought the stock before 19 December 2024. Payment date: 15 January 2025. Payout ratio is on the higher end at 95%, and the cash payout ratio is above 100%. Trailing yield: 5.2%. Within top quartile of Taiwanese dividend payers (4.5%). Higher than average of industry peers (2.1%).
Reported Earnings • Nov 06Third quarter 2024 earnings: EPS misses analyst expectationsThird quarter 2024 results: EPS: NT$0.45 (up from NT$0.45 in 3Q 2023). Revenue: NT$3.13b (up 10% from 3Q 2023). Net income: NT$424.6m (up 1.0% from 3Q 2023). Profit margin: 14% (down from 15% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 12%. Revenue is forecast to grow 9.6% p.a. on average during the next 2 years, compared to a 17% growth forecast for the Semiconductor industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings.
Upcoming Dividend • Sep 12Upcoming dividend of NT$0.41 per shareEligible shareholders must have bought the stock before 19 September 2024. Payment date: 16 October 2024. Payout ratio is on the higher end at 93%, and the cash payout ratio is above 100%. Trailing yield: 4.4%. Lower than top quartile of Taiwanese dividend payers (4.5%). Higher than average of industry peers (2.2%).
Reported Earnings • Aug 16Second quarter 2024 earnings: EPS exceeds analyst expectationsSecond quarter 2024 results: EPS: NT$0.54 (up from NT$0.52 in 2Q 2023). Revenue: NT$2.95b (down 1.3% from 2Q 2023). Net income: NT$508.2m (up 5.0% from 2Q 2023). Profit margin: 17% (in line with 2Q 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 9.1%. Revenue is forecast to grow 9.6% p.a. on average during the next 2 years, compared to a 16% growth forecast for the Semiconductor industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has remained flat.
Upcoming Dividend • Jun 17Upcoming dividend of NT$0.41 per shareEligible shareholders must have bought the stock before 24 June 2024. Payment date: 17 July 2024. Payout ratio and cash payout ratio are on the higher end at 93% and 84% respectively. Trailing yield: 4.0%. Lower than top quartile of Taiwanese dividend payers (4.2%). Higher than average of industry peers (2.1%).
Reported Earnings • May 18First quarter 2024 earnings released: EPS: NT$0.47 (vs NT$0.41 in 1Q 2023)First quarter 2024 results: EPS: NT$0.47 (up from NT$0.41 in 1Q 2023). Revenue: NT$2.74b (down 3.3% from 1Q 2023). Net income: NT$436.9m (up 15% from 1Q 2023). Profit margin: 16% (up from 13% in 1Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 7.0% p.a. on average during the next 2 years, compared to a 16% growth forecast for the Semiconductor industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 19% per year, which means it is tracking significantly ahead of earnings growth.
Major Estimate Revision • Apr 25Consensus EPS estimates increase by 30%The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate increased from NT$1.59 to NT$2.06. Revenue forecast steady at NT$12.6b. Net income forecast to grow 16% next year vs 27% growth forecast for Semiconductor industry in Taiwan. Consensus price target up from NT$38.92 to NT$42.27. Share price rose 9.5% to NT$40.50 over the past week.
Reported Earnings • Mar 19Full year 2023 earnings: EPS exceeds analyst expectationsFull year 2023 results: EPS: NT$1.67 (down from NT$3.01 in FY 2022). Revenue: NT$11.6b (down 20% from FY 2022). Net income: NT$1.56b (down 44% from FY 2022). Profit margin: 14% (down from 20% in FY 2022). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 1.2%. Revenue is forecast to grow 5.6% p.a. on average during the next 2 years, compared to a 14% growth forecast for the Semiconductor industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 22% 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 • Mar 07Upcoming dividend of NT$0.40 per shareEligible shareholders must have bought the stock before 14 March 2024. Payment date: 10 April 2024. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 4.7%. Lower than top quartile of Taiwanese dividend payers (4.9%). Higher than average of industry peers (2.5%).
お知らせ • Feb 22Chang Wah Technology Co., Ltd., Annual General Meeting, May 30, 2024Chang Wah Technology Co., Ltd., Annual General Meeting, May 30, 2024.
New Risk • Feb 02New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 8.7% per year for the foreseeable future. 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 expected to decline, then in most cases the share price will decline over time as well. 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 are forecast to decline by an average of 8.7% per year for the foreseeable future. Minor Risks Dividend is not well covered by earnings (112% payout ratio). Profit margins are more than 30% lower than last year (14% net profit margin).
Upcoming Dividend • Dec 14Upcoming dividend of NT$0.40 per share at 4.7% yieldEligible shareholders must have bought the stock before 21 December 2023. Payment date: 17 January 2024. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 4.7%. Lower than top quartile of Taiwanese dividend payers (5.2%). Higher than average of industry peers (3.2%).
New Risk • Nov 22New minor risk - Profit margin trendThe company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 14% Last year net profit margin: 20% 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: 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 (14% net profit margin).
Major Estimate Revision • Nov 02Consensus EPS estimates fall by 21%The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from NT$11.6b to NT$11.3b. EPS estimate also fell from NT$1.97 per share to NT$1.55 per share. Net income forecast to shrink 27% next year vs 8.5% growth forecast for Semiconductor industry in Taiwan . Consensus price target down from NT$45.00 to NT$40.00. Share price was steady at NT$31.80 over the past week.
Upcoming Dividend • Sep 14Upcoming dividend of NT$0.40 per share at 4.5% yieldEligible shareholders must have bought the stock before 21 September 2023. Payment date: 18 October 2023. Payout ratio is on the higher end at 86%, however this is supported by cash flows. Trailing yield: 4.5%. Lower than top quartile of Taiwanese dividend payers (5.5%). Higher than average of industry peers (3.3%).
Reported Earnings • Aug 09Second quarter 2023 earnings released: EPS: NT$0.52 (vs NT$0.84 in 2Q 2022)Second quarter 2023 results: EPS: NT$0.52 (down from NT$0.84 in 2Q 2022). Revenue: NT$2.99b (down 21% from 2Q 2022). Net income: NT$484.1m (down 38% from 2Q 2022). Profit margin: 16% (down from 21% in 2Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 7.2% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Semiconductor industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has only increased by 31% per year, which means it is significantly lagging earnings growth.
New Risk • Jul 28New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 11% per year for the foreseeable future. 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 expected to decline, then in most cases the share price will decline over time as well. 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 are forecast to decline by an average of 11% per year for the foreseeable future. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past.
Valuation Update With 7 Day Price Move • Jul 13Investor sentiment deteriorates as stock falls 19%After last week's 19% share price decline to NT$35.80, the stock trades at a trailing P/E ratio of 13.5x. Average forward P/E is 20x in the Semiconductor industry in Taiwan. Total returns to shareholders of 217% over the past three years.
Upcoming Dividend • Jun 01Upcoming dividend of NT$0.81 per share at 3.8% yieldEligible shareholders must have bought the stock before 08 June 2023. Payment date: 12 July 2023. Payout ratio is a comfortable 50% and this is well supported by cash flows. Trailing yield: 3.8%. Lower than top quartile of Taiwanese dividend payers (5.6%). Higher than average of industry peers (3.3%).
Major Estimate Revision • May 09Consensus EPS estimates fall by 12%The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from NT$13.2b to NT$13.0b. EPS estimate also fell from NT$2.12 per share to NT$1.87 per share. Net income forecast to shrink 36% next year vs 18% decline forecast for Semiconductor industry in Taiwan. Consensus price target up from NT$38.00 to NT$45.00. Share price fell 2.5% to NT$41.35 over the past week.
Price Target Changed • May 08Price target increased by 20% to NT$45.00Up from NT$37.60, the current price target is provided by 1 analyst. New target price is 8.8% above last closing price of NT$41.35. Stock is up 19% over the past year. The company is forecast to post earnings per share of NT$1.87 for next year compared to NT$3.01 last year.
Reported Earnings • Mar 18Full year 2022 earnings: Revenues exceed analysts expectations while EPS lags behindFull year 2022 results: EPS: NT$3.01 (up from NT$1.92 in FY 2021). Revenue: NT$14.4b (up 13% from FY 2021). Net income: NT$2.82b (up 64% from FY 2021). Profit margin: 20% (up from 13% in FY 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.2%. Earnings per share (EPS) missed analyst estimates by 1.6%. Over the last 3 years on average, earnings per share has increased by 58% per year but the company’s share price has increased by 74% per year, which means it is tracking significantly ahead of earnings growth.
Valuation Update With 7 Day Price Move • Mar 08Investor sentiment improves as stock rises 18%After last week's 18% share price gain to NT$40.45, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 17x in the Semiconductor industry in Taiwan. Total returns to shareholders of 317% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$24.90 per share.
Upcoming Dividend • Dec 08Upcoming dividend of NT$0.70 per shareEligible shareholders must have bought the stock before 15 December 2022. Payment date: 11 January 2023. Payout ratio is a comfortable 43% and this is well supported by cash flows. Trailing yield: 4.4%. Lower than top quartile of Taiwanese dividend payers (6.8%). Higher than average of industry peers (3.7%).
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 an independent director. The company's board is composed of: 1 new director. 3 experienced directors. 3 highly experienced directors. 3 independent directors (4 non-independent directors). Independent Director Jia-Ruey Ou was the last independent director to join the board, commencing their role in 2021. 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 06Third quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behindThird quarter 2022 results: EPS: NT$1.01 (up from NT$0.64 in 3Q 2021). Revenue: NT$3.68b (up 11% from 3Q 2021). Net income: NT$939.3m (up 64% from 3Q 2021). Profit margin: 26% (up from 17% in 3Q 2021). Revenue missed analyst estimates by 2.5%. Earnings per share (EPS) exceeded analyst estimates by 41%. Revenue is expected to decline by 2.4% p.a. on average during the next 2 years, while revenues in the Semiconductor industry in Taiwan are expected to grow by 9.9%. Over the last 3 years on average, earnings per share has increased by 58% per year but the company’s share price has only increased by 27% per year, which means it is significantly lagging earnings growth.
Price Target Changed • Oct 23Price target decreased to NT$34.00Down from NT$37.60, the current price target is provided by 1 analyst. New target price is 13% above last closing price of NT$30.10. Stock is down 26% over the past year. The company is forecast to post earnings per share of NT$3.07 for next year compared to NT$1.92 last year.
Valuation Update With 7 Day Price Move • Oct 05Investor sentiment improved over the past weekAfter last week's 22% share price gain to NT$34.35, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 10x in the Semiconductor industry in Taiwan. Total returns to shareholders of 168% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$32.77 per share.
Reported Earnings • Aug 07Second quarter 2022 earnings: EPS exceeds analyst expectationsSecond quarter 2022 results: EPS: NT$2.09 (up from NT$0.88 in 2Q 2021). Revenue: NT$3.78b (up 23% from 2Q 2021). Net income: NT$784.8m (up 152% from 2Q 2021). Profit margin: 21% (up from 10% in 2Q 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 2.5%. Over the next year, revenue is forecast to grow 4.9%, compared to a 21% growth forecast for the industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 52% per year but the company’s share price has only increased by 41% per year, which means it is significantly lagging earnings growth.
Upcoming Dividend • Jun 10Upcoming dividend of NT$1.72 per shareEligible shareholders must have bought the stock before 17 June 2022. Payment date: 13 July 2022. Payout ratio is a comfortable 50% and this is well supported by cash flows. Trailing yield: 2.6%. Lower than top quartile of Taiwanese dividend payers (5.9%). Lower than average of industry peers (3.0%).
Reported Earnings • May 09First quarter 2022 earnings: EPS and revenues exceed analyst expectationsFirst quarter 2022 results: EPS: NT$1.87 (up from NT$0.67 in 1Q 2021). Revenue: NT$3.63b (up 34% from 1Q 2021). Net income: NT$701.7m (up 196% from 1Q 2021). Profit margin: 19% (up from 8.7% in 1Q 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.9%. Earnings per share (EPS) also surpassed analyst estimates by 13%. Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has increased by 52% per year, which means it is tracking significantly ahead of earnings growth.
Price Target Changed • Apr 27Price target decreased to NT$108Down from NT$120, the current price target is provided by 1 analyst. New target price is 17% above last closing price of NT$92.60. Stock is up 28% over the past year. The company is forecast to post earnings per share of NT$7.15 for next year compared to NT$4.81 last year.
Board Change • Apr 27Less than half of directors are independentNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 5 highly experienced directors. 3 independent directors (6 non-independent directors). Independent Director Ren-Lin Lin was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.
Price Target Changed • Apr 20Price target decreased to NT$108Down from NT$120, the current price target is provided by 1 analyst. New target price is 9.1% above last closing price of NT$99.00. Stock is up 36% over the past year. The company is forecast to post earnings per share of NT$7.15 for next year compared to NT$4.81 last year.
Reported Earnings • Mar 19Full year 2021 earnings: EPS exceeds analyst expectationsFull year 2021 results: EPS: NT$4.81 (up from NT$2.19 in FY 2020). Revenue: NT$12.8b (up 32% from FY 2020). Net income: NT$1.71b (up 122% from FY 2020). Profit margin: 13% (up from 8.0% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 4.8%. Over the next year, revenue is forecast to grow 20%, compared to a 24% growth forecast for the industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has increased by 51% per year, which means it is tracking significantly ahead of earnings growth.
Upcoming Dividend • Dec 02Upcoming dividend of NT$0.68 per shareEligible shareholders must have bought the stock before 09 December 2021. Payment date: 12 January 2022. Trailing yield: 1.6%. Lower than top quartile of Taiwanese dividend payers (5.1%). Lower than average of industry peers (2.1%).
Reported Earnings • Nov 10Third quarter 2021 earnings released: EPS NT$1.61 (vs NT$0.78 in 3Q 2020)The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$3.33b (up 39% from 3Q 2020). Net income: NT$571.6m (up 107% from 3Q 2020). Profit margin: 17% (up from 12% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has increased by 55% per year, which means it is tracking significantly ahead of earnings growth.
Reported Earnings • Aug 09Second quarter 2021 earnings released: EPS NT$0.88 (vs NT$0.57 in 2Q 2020)The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: NT$3.07b (up 26% from 2Q 2020). Net income: NT$311.3m (up 55% from 2Q 2020). Profit margin: 10% (up from 8.2% 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 2% per year but the company’s share price has increased by 41% per year, which means it is tracking significantly ahead of earnings growth.
Valuation Update With 7 Day Price Move • Jul 07Investor sentiment improved over the past weekAfter last week's 23% share price gain to NT$91.40, the stock trades at a trailing P/E ratio of 36.6x. Average forward P/E is 17x in the Semiconductor industry in Taiwan. Total returns to shareholders of 165% over the past three years.
Upcoming Dividend • Jun 08Upcoming dividend of NT$0.92 per shareEligible shareholders must have bought the stock before 15 June 2021. Payment date: 14 July 2021. Trailing yield: 2.0%. Lower than top quartile of Taiwanese dividend payers (5.0%). In line with average of industry peers (2.1%).
Reported Earnings • May 08First quarter 2021 earnings released: EPS NT$0.67 (vs NT$0.36 in 1Q 2020)The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$2.72b (up 26% from 1Q 2020). Net income: NT$237.3m (up 86% from 1Q 2020). Profit margin: 8.7% (up from 5.9% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 18% per year, which means it is well ahead of earnings.
分析記事 • Apr 19Chang Wah Technology (GTSM:6548) Has A Pretty Healthy Balance SheetWarren Buffett famously said, 'Volatility is far from synonymous with risk.' It's only natural to consider a company's...
分析記事 • Apr 01Chang Wah Technology's (GTSM:6548) Solid Profits Have Weak FundamentalsChang Wah Technology Co., Ltd. ( GTSM:6548 ) just reported some strong earnings, and the market rewarded them with a...
お知らせ • Mar 19Chang Wah Technology Co., Ltd., Annual General Meeting, Jun 07, 2021Chang Wah Technology Co., Ltd., Annual General Meeting, Jun 07, 2021.
分析記事 • Mar 19Should We Be Excited About The Trends Of Returns At Chang Wah Technology (GTSM:6548)?If we want to find a potential multi-bagger, often there are underlying trends that can provide clues. Firstly, we'd...
Reported Earnings • Mar 18Full year 2020 earnings released: EPS NT$2.19 (vs NT$1.72 in FY 2019)The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$9.68b (up 3.8% from FY 2019). Net income: NT$773.8m (up 27% from FY 2019). Profit margin: 8.0% (up from 6.5% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 19% per year, which means it is well ahead of earnings.
分析記事 • Mar 03What Is Chang Wah Technology Co., Ltd.'s (GTSM:6548) Share Price Doing?While Chang Wah Technology Co., Ltd. ( GTSM:6548 ) might not be the most widely known stock at the moment, it saw a...
Is New 90 Day High Low • Feb 18New 90-day high: NT$68.70The company is up 44% from its price of NT$47.55 on 20 November 2020. The Taiwanese market is up 18% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Semiconductor industry, which is up 35% over the same period.
分析記事 • Feb 16Shareholders of Chang Wah Technology (GTSM:6548) Must Be Delighted With Their 835% Total ReturnBuying shares in the best businesses can build meaningful wealth for you and your family. And we've seen some truly...
分析記事 • Jan 28Are Robust Financials Driving The Recent Rally In Chang Wah Technology Co., Ltd.'s (GTSM:6548) Stock?Most readers would already be aware that Chang Wah Technology's (GTSM:6548) stock increased significantly by 38% over...
Is New 90 Day High Low • Jan 25New 90-day high: NT$66.00The company is up 37% from its price of NT$48.15 on 28 October 2020. The Taiwanese market is up 23% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Semiconductor industry, which is up 43% over the same period.
分析記事 • Jan 13Is Chang Wah Technology Co., Ltd. (GTSM:6548) A Smart Choice For Dividend Investors?Dividend paying stocks like Chang Wah Technology Co., Ltd. ( GTSM:6548 ) tend to be popular with investors, and for...
Is New 90 Day High Low • Jan 07New 90-day high: NT$64.00The company is up 61% from its price of NT$39.70 on 08 October 2020. The Taiwanese market is up 16% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Semiconductor industry, which is up 23% over the same period.
分析記事 • Dec 29Does Chang Wah Technology (GTSM:6548) Have A Healthy Balance Sheet?Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...
分析記事 • Dec 12Chang Wah Technology Co., Ltd. (GTSM:6548) Will Pay A NT$0.40 Dividend In Three DaysRegular readers will know that we love our dividends at Simply Wall St, which is why it's exciting to see Chang Wah...
Upcoming Dividend • Dec 10Upcoming Dividend of NT$0.40 Per ShareWill be paid on the 13th of January to those who are registered shareholders by the 17th of December. The trailing yield of 3.0% is below the top quartile of Taiwanese dividend payers (5.1%), but it is higher than industry peers (2.0%).
分析記事 • Dec 09Returns On Capital At Chang Wah Technology (GTSM:6548) Paint An Interesting PictureTo find a multi-bagger stock, what are the underlying trends we should look for in a business? One common approach is...
Valuation Update With 7 Day Price Move • Dec 01Market bids up stock over the past weekAfter last week's 24% share price gain to NT$59.50, the stock is trading at a trailing P/E ratio of 27.7x, up from the previous P/E ratio of 22.3x. This compares to an average P/E of 24x in the Semiconductor industry in Taiwan. Total returns to shareholders over the past three years are 62%.
Is New 90 Day High Low • Nov 27New 90-day high: NT$49.25The company is up 28% from its price of NT$38.50 on 28 August 2020. The Taiwanese market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Semiconductor industry, which is up 15% over the same period.
分析記事 • Nov 17Is Now An Opportune Moment To Examine Chang Wah Technology Co., Ltd. (GTSM:6548)?While Chang Wah Technology Co., Ltd. (GTSM:6548) might not be the most widely known stock at the moment, it saw a...
Reported Earnings • Nov 10Third quarter 2020 earnings released: EPS NT$0.78The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2020 results: Revenue: NT$2.40b (down 2.8% from 3Q 2019). Net income: NT$275.8m (up 50% from 3Q 2019). Profit margin: 12% (up from 7.4% in 3Q 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 6% per year whereas the company’s share price has increased by 3% per year.
Valuation Update With 7 Day Price Move • Oct 26Market bids up stock over the past weekAfter last week's 18% share price gain to NT$48.20, the stock is trading at a trailing P/E ratio of 25.5x, up from the previous P/E ratio of 21.7x. This compares to an average P/E of 23x in the Semiconductor industry in Taiwan. Total returns to shareholders over the past three years are 35%.
Is New 90 Day High Low • Oct 15New 90-day high: NT$42.60The company is up 40% from its price of NT$30.40 on 17 July 2020. The Taiwanese market is up 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Semiconductor industry, which is up 21% over the same period.
