View Financial HealthNiching Industrial 配当と自社株買い配当金 基準チェック /36Niching Industrial配当を支払う会社であり、現在の利回りは1.86%です。主要情報1.9%配当利回りn/aバイバック利回り総株主利回りn/a将来の配当利回りn/a配当成長10.4%次回配当支払日n/a配当落ち日n/a一株当たり配当金n/a配当性向102%最近の配当と自社株買いの更新Upcoming Dividend • Jul 17Upcoming dividend of NT$2.00 per shareEligible shareholders must have bought the stock before 24 July 2025. Payment date: 26 August 2025. Payout ratio is on the higher end at 80%, and the cash payout ratio is above 100%. Trailing yield: 3.8%. Lower than top quartile of Taiwanese dividend payers (5.3%). Higher than average of industry peers (3.0%).Declared Dividend • Jul 03Dividend of NT$2.00 announcedShareholders will receive a dividend of NT$2.00. Ex-date: 24th July 2025 Payment date: 26th August 2025 Dividend yield will be 3.8%, which is lower than the industry average of 4.0%. Sustainability & Growth Dividend is covered by earnings (80% earnings payout ratio) but not covered by cash flows (356% cash payout ratio). The dividend has increased by an average of 7.4% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to decline by 11% to shift the payout ratio to a potentially unsustainable range, which is more than the 3.3% EPS decline seen over the last 5 years.Declared Dividend • Jul 06Dividend of NT$2.30 announcedShareholders will receive a dividend of NT$2.30. Ex-date: 23rd July 2024 Payment date: 22nd August 2024 Dividend yield will be 1.9%, which is lower than the industry average of 4.0%. Sustainability & Growth Dividend is not adequately covered by earnings (98% earnings payout ratio) nor is it covered by cash flows (dividend approximately 7x free cash flows). The dividend has increased by an average of 13% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 9.1% to bring the payout ratio under control, which is more than the 6.0% EPS growth achieved over the last 5 years.Upcoming Dividend • Jul 17Upcoming dividend of NT$3.80 per share at 5.0% yieldEligible shareholders must have bought the stock before 24 July 2023. Payment date: 25 August 2023. Payout ratio is on the higher end at 90%, however this is supported by cash flows. Trailing yield: 5.0%. Lower than top quartile of Taiwanese dividend payers (5.5%). Higher than average of industry peers (4.1%).Upcoming Dividend • Jul 11Upcoming dividend of NT$2.30 per shareEligible shareholders must have bought the stock before 18 July 2022. Payment date: 19 August 2022. Payout ratio is a comfortable 57% and this is well supported by cash flows. Trailing yield: 4.3%. Lower than top quartile of Taiwanese dividend payers (6.7%). Lower than average of industry peers (4.8%).Upcoming Dividend • Jul 03Upcoming dividend of NT$1.80 per shareEligible shareholders must have bought the stock before 09 July 2021. Payment date: 13 August 2021. Trailing yield: 4.8%. Lower than top quartile of Taiwanese dividend payers (5.0%). Higher than average of industry peers (3.0%).すべての更新を表示Recent updatesNew Risk • May 09New minor risk - Profit margin trendThe company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 6.2% Last year net profit margin: 9.2% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 9.6% per year over the past 5 years. Minor Risks Dividend is not well covered by earnings (102% payout ratio). Share price has been volatile over the past 3 months (9.3% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (6.2% net profit margin).Reported Earnings • May 09First quarter 2026 earnings released: EPS: NT$0.41 (vs NT$0.79 in 1Q 2025)First quarter 2026 results: EPS: NT$0.41 (down from NT$0.79 in 1Q 2025). Revenue: NT$316.0m (up 4.9% from 1Q 2025). Net income: NT$18.6m (down 48% from 1Q 2025). Profit margin: 5.9% (down from 12% in 1Q 2025). Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings.New Risk • Apr 28New 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 9.0% 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 6.7% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (9.0% average weekly change). Large one-off items impacting financial results.Valuation Update With 7 Day Price Move • Apr 17Investor sentiment improves as stock rises 16%After last week's 16% share price gain to NT$83.00, the stock trades at a trailing P/E ratio of 38.7x. Average trailing P/E is 29x in the Electronic industry in Taiwan. Total returns to shareholders of 50% over the past three years.New Risk • Apr 14New minor risk - Earnings qualityThe company has large one-off items impacting its financial results. One-off items were 23% 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 6.7% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results.Reported Earnings • Mar 14Full year 2025 earnings released: EPS: NT$2.15 (vs NT$2.39 in FY 2024)Full year 2025 results: EPS: NT$2.15 (down from NT$2.39 in FY 2024). Revenue: NT$1.28b (up 11% from FY 2024). Net income: NT$96.6m (down 10% from FY 2024). Profit margin: 7.6% (down from 9.3% in FY 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has remained flat, which means it is well ahead of earnings.Buy Or Sell Opportunity • Mar 10Now 24% overvalued after recent price riseOver the last 90 days, the stock has risen 13% to NT$59.40. The fair value is estimated to be NT$47.96, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 7.2% over the last 3 years. Earnings per share has declined by 31%.New Risk • Feb 28New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 7.0% 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 4.9% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (7.0% average weekly change). Large one-off items impacting financial results. Market cap is less than US$100m (NT$3.07b market cap, or US$97.8m).お知らせ • Feb 12Niching Industrial Corporation, Annual General Meeting, May 28, 2026Niching Industrial Corporation, Annual General Meeting, May 28, 2026, at 10:00 Taipei Standard Time. Location: 2 floor no,60, t`ieh pao st., hsi tun district, taichung city TaiwanValuation Update With 7 Day Price Move • Dec 26Investor sentiment improves as stock rises 24%After last week's 24% share price gain to NT$67.70, the stock trades at a trailing P/E ratio of 27.8x. Average trailing P/E is 22x in the Electronic industry in Taiwan. Total returns to shareholders of 24% over the past three years.Buy Or Sell Opportunity • Dec 23Now 28% overvaluedThe stock has been flat over the last 90 days, currently trading at NT$59.40. The fair value is estimated to be NT$46.42, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 7.2% over the last 3 years. Earnings per share has declined by 31%.New Risk • Nov 27New minor risk - Earnings qualityThe company has large one-off items impacting its financial results. One-off items were 20% 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 4.9% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.9% average weekly change). Large one-off items impacting financial results. Market cap is less than US$100m (NT$2.40b market cap, or US$76.5m).Reported Earnings • Nov 07Third quarter 2025 earnings released: EPS: NT$0.43 (vs NT$0.16 in 3Q 2024)Third quarter 2025 results: EPS: NT$0.43 (up from NT$0.16 in 3Q 2024). Revenue: NT$306.9m (flat on 3Q 2024). Net income: NT$19.3m (up 166% from 3Q 2024). Profit margin: 6.3% (up from 2.4% in 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings.New Risk • Sep 02New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 6.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 92% Cash payout ratio: 159% Earnings have declined by 3.6% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (6.5% average weekly change). Market cap is less than US$100m (NT$2.84b market cap, or US$92.5m).Valuation Update With 7 Day Price Move • Sep 02Investor sentiment improves as stock rises 23%After last week's 23% share price gain to NT$69.60, the stock trades at a trailing P/E ratio of 32.1x. Average trailing P/E is 23x in the Electronic industry in Taiwan. Total returns to shareholders of 54% over the past three years.Valuation Update With 7 Day Price Move • Aug 18Investor sentiment improves as stock rises 15%After last week's 15% share price gain to NT$58.70, the stock trades at a trailing P/E ratio of 27x. Average trailing P/E is 22x in the Electronic industry in Taiwan. Total returns to shareholders of 22% over the past three years.Reported Earnings • Aug 08Second quarter 2025 earnings released: EPS: NT$0.41 (vs NT$0.73 in 2Q 2024)Second quarter 2025 results: EPS: NT$0.41 (down from NT$0.73 in 2Q 2024). Revenue: NT$322.6m (up 7.0% from 2Q 2024). Net income: NT$18.7m (down 44% from 2Q 2024). Profit margin: 5.8% (down from 11% in 2Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings.Upcoming Dividend • Jul 17Upcoming dividend of NT$2.00 per shareEligible shareholders must have bought the stock before 24 July 2025. Payment date: 26 August 2025. Payout ratio is on the higher end at 80%, and the cash payout ratio is above 100%. Trailing yield: 3.8%. Lower than top quartile of Taiwanese dividend payers (5.3%). Higher than average of industry peers (3.0%).Declared Dividend • Jul 03Dividend of NT$2.00 announcedShareholders will receive a dividend of NT$2.00. Ex-date: 24th July 2025 Payment date: 26th August 2025 Dividend yield will be 3.8%, which is lower than the industry average of 4.0%. Sustainability & Growth Dividend is covered by earnings (80% earnings payout ratio) but not covered by cash flows (356% cash payout ratio). The dividend has increased by an average of 7.4% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to decline by 11% to shift the payout ratio to a potentially unsustainable range, which is more than the 3.3% EPS decline seen over the last 5 years.Reported Earnings • May 08First quarter 2025 earnings released: EPS: NT$0.79 (vs NT$0.69 in 1Q 2024)First quarter 2025 results: EPS: NT$0.79 (up from NT$0.69 in 1Q 2024). Revenue: NT$301.2m (up 27% from 1Q 2024). Net income: NT$35.7m (up 15% from 1Q 2024). Profit margin: 12% (down from 13% in 1Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 32% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings.Valuation Update With 7 Day Price Move • Apr 08Investor sentiment deteriorates as stock falls 18%After last week's 18% share price decline to NT$51.30, the stock trades at a trailing P/E ratio of 21.5x. Average trailing P/E is 17x in the Electronic industry in Taiwan. Total returns to shareholders of 13% over the past three years.Reported Earnings • Mar 20Full year 2024 earnings released: EPS: NT$2.39 (vs NT$2.12 in FY 2023)Full year 2024 results: EPS: NT$2.39 (up from NT$2.12 in FY 2023). Revenue: NT$1.15b (up 18% from FY 2023). Net income: NT$107.5m (up 15% from FY 2023). Profit margin: 9.3% (in line with FY 2023). Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has increased by 12% per year, which means it is well ahead of earnings.お知らせ • Mar 14Niching Industrial Corporation, Annual General Meeting, Jun 12, 2025Niching Industrial Corporation, Annual General Meeting, Jun 12, 2025. Location: 2 floor no,60, t`ieh pao st., hsi tun district, taichung city TaiwanNew Risk • Jan 15New minor risk - Market cap sizeThe company's market capitalization is less than US$100m. Market cap: NT$3.28b (US$99.5m) 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 Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 137% Paying a dividend despite having no free cash flows. Minor Risks Profit margins are more than 30% lower than last year (6.8% net profit margin). Market cap is less than US$100m (NT$3.28b market cap, or US$99.5m).Reported Earnings • Nov 18Third quarter 2024 earnings released: EPS: NT$0.16 (vs NT$0.84 in 3Q 2023)Third quarter 2024 results: EPS: NT$0.16 (down from NT$0.84 in 3Q 2023). Revenue: NT$304.5m (up 17% from 3Q 2023). Net income: NT$7.27m (down 81% from 3Q 2023). Profit margin: 2.4% (down from 15% in 3Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings.Reported Earnings • Aug 17Second quarter 2024 earnings released: EPS: NT$0.73 (vs NT$0.70 in 2Q 2023)Second quarter 2024 results: EPS: NT$0.73 (up from NT$0.70 in 2Q 2023). Revenue: NT$301.4m (up 16% from 2Q 2023). Net income: NT$33.0m (up 4.2% from 2Q 2023). Profit margin: 11% (down from 12% in 2Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 38% per year, which means it is well ahead of earnings.Declared Dividend • Jul 06Dividend of NT$2.30 announcedShareholders will receive a dividend of NT$2.30. Ex-date: 23rd July 2024 Payment date: 22nd August 2024 Dividend yield will be 1.9%, which is lower than the industry average of 4.0%. Sustainability & Growth Dividend is not adequately covered by earnings (98% earnings payout ratio) nor is it covered by cash flows (dividend approximately 7x free cash flows). The dividend has increased by an average of 13% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 9.1% to bring the payout ratio under control, which is more than the 6.0% EPS growth achieved over the last 5 years.Reported Earnings • May 12First quarter 2024 earnings released: EPS: NT$0.70 (vs NT$0.53 in 1Q 2023)First quarter 2024 results: EPS: NT$0.70 (up from NT$0.53 in 1Q 2023). Revenue: NT$238.1m (up 13% from 1Q 2023). Net income: NT$31.1m (up 46% from 1Q 2023). Profit margin: 13% (up from 10% in 1Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 48% per year, which means it is well ahead of earnings.Valuation Update With 7 Day Price Move • Apr 11Investor sentiment improves as stock rises 21%After last week's 21% share price gain to NT$124, the stock trades at a trailing P/E ratio of 58.2x. Average trailing P/E is 25x in the Electronic industry in Taiwan. Total returns to shareholders of 227% over the past three years.New Risk • Apr 10New 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: Major Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 139% Cash payout ratio: 112% Minor Risks 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 (9.6% net profit margin).お知らせ • Mar 12Niching Industrial Corporation, Annual General Meeting, Jun 13, 2024Niching Industrial Corporation, Annual General Meeting, Jun 13, 2024.Reported Earnings • Mar 09Full year 2023 earnings released: EPS: NT$2.16 (vs NT$5.01 in FY 2022)Full year 2023 results: EPS: NT$2.16 (down from NT$5.01 in FY 2022). Revenue: NT$976.4m (down 7.9% from FY 2022). Net income: NT$93.5m (down 52% from FY 2022). Profit margin: 9.6% (down from 19% in FY 2022). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 40% per year, which means it is tracking significantly ahead of earnings growth.New Risk • Nov 13New 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 5.7% 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 Dividend is not well covered by earnings and cash flows. Payout ratio: 139% Cash payout ratio: 149% Minor Risks Share price has been volatile over the past 3 months (5.7% average weekly change). Profit margins are more than 30% lower than last year (12% net profit margin). Shareholders have been diluted in the past year (13% increase in shares outstanding).Reported Earnings • Nov 04Third quarter 2023 earnings released: EPS: NT$0.86 (vs NT$1.52 in 3Q 2022)Third quarter 2023 results: EPS: NT$0.86 (down from NT$1.52 in 3Q 2022). Revenue: NT$259.3m (up 11% from 3Q 2022). Net income: NT$38.0m (down 36% from 3Q 2022). Profit margin: 15% (down from 26% in 3Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has increased by 45% per year, which means it is tracking significantly ahead of earnings growth.New Risk • Oct 10New 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 5.9% 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 Dividend is not well covered by earnings and cash flows. Payout ratio: 114% Cash payout ratio: 329% Minor Risks Share price has been volatile over the past 3 months (5.9% average weekly change). Shareholders have been diluted in the past year (13% increase in shares outstanding).New Risk • Aug 11New minor risk - Market cap sizeThe company's market capitalization is less than US$100m. Market cap: NT$3.15b (US$99.1m) 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 Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 114% Cash payout ratio: 329% Minor Risks Shareholders have been diluted in the past year (13% increase in shares outstanding). Market cap is less than US$100m (NT$3.15b market cap, or US$99.1m).New Risk • Aug 06New major risk - Dividend sustainabilityThe dividend is not well covered by earnings and cash flows. Payout ratio: 114% Cash payout ratio: 329% Dividend yield: 5.1% 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 Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 114% Cash payout ratio: 329% Minor Risk Shareholders have been diluted in the past year (13% increase in shares outstanding).Reported Earnings • Aug 05Second quarter 2023 earnings released: EPS: NT$0.72 (vs NT$1.58 in 2Q 2022)Second quarter 2023 results: EPS: NT$0.72 (down from NT$1.58 in 2Q 2022). Revenue: NT$260.3m (down 12% from 2Q 2022). Net income: NT$31.7m (down 49% from 2Q 2022). Profit margin: 12% (down from 21% in 2Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has increased by 25% per year, which means it is tracking significantly ahead of earnings growth.Valuation Update With 7 Day Price Move • Jul 20Investor sentiment improves as stock rises 21%After last week's 21% share price gain to NT$86.30, the stock trades at a trailing P/E ratio of 22.9x. Average trailing P/E is 18x in the Electronic industry in Taiwan. Total returns to shareholders of 154% over the past three years.Upcoming Dividend • Jul 17Upcoming dividend of NT$3.80 per share at 5.0% yieldEligible shareholders must have bought the stock before 24 July 2023. Payment date: 25 August 2023. Payout ratio is on the higher end at 90%, however this is supported by cash flows. Trailing yield: 5.0%. Lower than top quartile of Taiwanese dividend payers (5.5%). Higher than average of industry peers (4.1%).New Risk • Jul 06New minor risk - Market cap sizeThe company's market capitalization is less than US$100m. Market cap: NT$3.12b (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: Minor Risks Dividend is not well covered by earnings (90% payout ratio). Shareholders have been diluted in the past year (13% increase in shares outstanding). Market cap is less than US$100m (NT$3.12b market cap, or US$99.6m).Valuation Update With 7 Day Price Move • May 23Investor sentiment improves as stock rises 18%After last week's 18% share price gain to NT$74.80, the stock trades at a trailing P/E ratio of 16.8x. Average trailing P/E is 15x in the Electronic industry in Taiwan. Total returns to shareholders of 113% over the past three years.Valuation Update With 7 Day Price Move • Nov 29Investor sentiment improved over the past weekAfter last week's 31% share price gain to NT$77.00, the stock trades at a trailing P/E ratio of 14.5x. Average trailing P/E is 11x in the Electronic industry in Taiwan. Total returns to shareholders of 185% over the past three years.Reported Earnings • Nov 06Third quarter 2022 earnings released: EPS: NT$1.52 (vs NT$1.11 in 3Q 2021)Third quarter 2022 results: EPS: NT$1.52 (up from NT$1.11 in 3Q 2021). Revenue: NT$232.7m (down 25% from 3Q 2021). Net income: NT$59.5m (up 38% from 3Q 2021). Profit margin: 26% (up from 14% in 3Q 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 24% per year whereas the company’s share price has increased by 21% per year.Reported Earnings • Aug 04Second quarter 2022 earnings released: EPS: NT$1.58 (vs NT$0.73 in 2Q 2021)Second quarter 2022 results: EPS: NT$1.58 (up from NT$0.73 in 2Q 2021). Revenue: NT$295.0m (down 9.1% from 2Q 2021). Net income: NT$62.0m (up 116% from 2Q 2021). Profit margin: 21% (up from 8.8% in 2Q 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 20% per year whereas the company’s share price has increased by 17% per year.Upcoming Dividend • Jul 11Upcoming dividend of NT$2.30 per shareEligible shareholders must have bought the stock before 18 July 2022. Payment date: 19 August 2022. Payout ratio is a comfortable 57% and this is well supported by cash flows. Trailing yield: 4.3%. Lower than top quartile of Taiwanese dividend payers (6.7%). Lower than average of industry peers (4.8%).Valuation Update With 7 Day Price Move • Jun 24Investor sentiment improved over the past weekAfter last week's 20% share price gain to NT$64.30, the stock trades at a trailing P/E ratio of 15.9x. Average trailing P/E is 13x in the Electronic industry in Taiwan. Total returns to shareholders of 221% over the past three years.Reported Earnings • May 06First quarter 2022 earnings: EPS and revenues miss analyst expectationsFirst quarter 2022 results: EPS: NT$1.30 (up from NT$0.68 in 1Q 2021). Revenue: NT$295.1m (up 2.1% from 1Q 2021). Net income: NT$50.8m (up 90% from 1Q 2021). Profit margin: 17% (up from 9.3% in 1Q 2021). The increase in margin was primarily driven by lower expenses. Revenue missed analyst estimates by 11%. Earnings per share (EPS) also missed analyst estimates by 9.6%. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has increased by 38% per year, which means it is tracking significantly ahead of earnings growth.Valuation Update With 7 Day Price Move • Apr 14Investor sentiment improved over the past weekAfter last week's 17% share price gain to NT$58.50, the stock trades at a trailing P/E ratio of 17x. Average trailing P/E is 16x in the Electronic industry in Taiwan. Total returns to shareholders of 187% over the past three years.Valuation Update With 7 Day Price Move • Dec 08Investor sentiment deteriorated over the past weekAfter last week's 15% share price decline to NT$65.60, the stock trades at a trailing P/E ratio of 21.6x. Average trailing P/E is 17x in the Electronic industry in Taiwan. Total returns to shareholders of 274% over the past three years.Valuation Update With 7 Day Price Move • Nov 18Investor sentiment improved over the past weekAfter last week's 16% share price gain to NT$48.30, the stock trades at a trailing P/E ratio of 15.9x. Average trailing P/E is 17x in the Electronic industry in Taiwan. Total returns to shareholders of 176% over the past three years.Reported Earnings • Nov 07Third quarter 2021 earnings released: EPS NT$1.10 (vs NT$0.70 in 3Q 2020)The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$309.5m (up 27% from 3Q 2020). Net income: NT$43.2m (up 57% from 3Q 2020). Profit margin: 14% (up from 11% 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 19% per year but the company’s share price has increased by 29% per year, which means it is tracking significantly ahead of earnings growth.Reported Earnings • Aug 09Second quarter 2021 earnings released: EPS NT$0.74 (vs NT$0.72 in 2Q 2020)The company reported a solid second quarter result with improved earnings and revenues, although profit margins were weaker. Second quarter 2021 results: Revenue: NT$324.5m (up 45% from 2Q 2020). Net income: NT$28.7m (up 1.6% from 2Q 2020). Profit margin: 8.8% (down from 13% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 22% per year whereas the company’s share price has increased by 18% per year.Upcoming Dividend • Jul 03Upcoming dividend of NT$1.80 per shareEligible shareholders must have bought the stock before 09 July 2021. Payment date: 13 August 2021. Trailing yield: 4.8%. Lower than top quartile of Taiwanese dividend payers (5.0%). Higher than average of industry peers (3.0%).分析記事 • Apr 19Could Niching Industrial Corporation (GTSM:3444) Have The Makings Of Another Dividend Aristocrat?Could Niching Industrial Corporation ( GTSM:3444 ) be an attractive dividend share to own for the long haul? Investors...Valuation Update With 7 Day Price Move • Apr 09Investor sentiment improved over the past weekAfter last week's 21% share price gain to NT$48.70, the stock trades at a trailing P/E ratio of 17.9x. Average trailing P/E is 20x in the Electronic industry in Taiwan. Total returns to shareholders of 112% over the past three years.お知らせ • Mar 21Niching Industrial Corporation, Annual General Meeting, Jun 16, 2021Niching Industrial Corporation, Annual General Meeting, Jun 16, 2021.Reported Earnings • Mar 19Full year 2020 earnings released: EPS NT$2.72 (vs NT$2.68 in FY 2019)The company reported a solid full year result with improved earnings and revenues, although profit margins were weaker. Full year 2020 results: Revenue: NT$964.5m (up 20% from FY 2019). Net income: NT$106.4m (up 1.6% from FY 2019). Profit margin: 11% (down from 13% in FY 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth.分析記事 • Mar 15Is Niching Industrial (GTSM:3444) A Future Multi-bagger?If you're looking for a multi-bagger, there's a few things to keep an eye out for. One common approach is to try and...Is New 90 Day High Low • Feb 24New 90-day high: NT$39.50The company is up 10.0% from its price of NT$35.95 on 26 November 2020. The Taiwanese market is up 19% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 27% over the same period.分析記事 • Feb 21Niching Industrial (GTSM:3444) Seems To Use Debt Rather SparinglyLegendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...分析記事 • Feb 02Is Niching Industrial Corporation's (GTSM:3444) Recent Performance Tethered To Its Attractive Financial Prospects?Niching Industrial's (GTSM:3444) stock is up by 4.6% over the past three months. Given that the market rewards strong...分析記事 • Jan 15Is Niching Industrial Corporation (GTSM:3444) A Smart Choice For Dividend Investors?Is Niching Industrial Corporation ( GTSM:3444 ) a good dividend stock? How can we tell? Dividend paying companies with...分析記事 • Dec 28Did You Participate In Any Of Niching Industrial's (GTSM:3444) Fantastic 195% Return ?The worst result, after buying shares in a company (assuming no leverage), would be if you lose all the money you put...Is New 90 Day High Low • Dec 17New 90-day high: NT$38.35The company is up 7.0% from its price of NT$36.00 on 18 September 2020. The Taiwanese market is up 10.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 11% over the same period.分析記事 • Dec 10Here’s What’s Happening With Returns At Niching Industrial (GTSM:3444)What trends should we look for it we want to identify stocks that can multiply in value over the long term? Firstly...分析記事 • Nov 19Niching Industrial (GTSM:3444) Could Easily Take On More DebtHoward Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...Reported Earnings • Nov 08Third quarter 2020 earnings released: EPS NT$0.70The company reported a solid third quarter result with improved earnings and revenues, although profit margins were weaker. Third quarter 2020 results: Revenue: NT$243.1m (up 17% from 3Q 2019). Net income: NT$27.5m (up 6.4% from 3Q 2019). Profit margin: 11% (down from 12% in 3Q 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth.Is New 90 Day High Low • Sep 24New 90-day low: NT$34.15The company is down 13% from its price of NT$39.45 on 24 June 2020. The Taiwanese market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is flat over the same period.決済の安定と成長配当データの取得安定した配当: 3444の配当金支払いは、過去10年間 変動性 が高かった。増加する配当: 3444の配当金は過去10年間にわたって増加しています。配当利回り対市場Niching Industrial 配当利回り対市場3444 配当利回りは市場と比べてどうか？セグメント配当利回り会社 (3444)1.9%市場下位25% (TW)1.4%市場トップ25% (TW)5.0%業界平均 (Electronic)1.3%アナリスト予想 (3444) (最長3年)n/a注目すべき配当: 3444の配当金 ( 1.86% ) はTW市場の配当金支払者の下位 25% ( 1.4% ) よりも高くなっています。高配当: 3444の配当金 ( 1.86% ) はTW市場の配当金支払者の上位 25% ( 4.97% ) と比較すると低いです。株主への利益配当収益カバレッジ: 3444は高い 配当性向 ( 101.9% ) のため、配当金の支払いは利益によって十分にカバーされていません。株主配当金キャッシュフローカバレッジ: 3444の 現金配当性向 ( 47.4% ) は比較的低く、配当金の支払いはキャッシュフローによって十分にカバーされています。高配当企業の発掘7D1Y7D1Y7D1YTW 市場の強力な配当支払い企業。View Management企業分析と財務データの現状データ最終更新日（UTC時間）企業分析2026/05/22 10:56終値2026/05/22 00:00収益2026/03/31年間収益2025/12/31データソース企業分析に使用したデータはS&P Global Market Intelligence LLC のものです。本レポートを作成するための分析モデルでは、以下のデータを使用しています。データは正規化されているため、ソースが利用可能になるまでに時間がかかる場合があります。パッケージデータタイムフレーム米国ソース例会社財務10年損益計算書キャッシュ・フロー計算書貸借対照表SECフォーム10-KSECフォーム10-Qアナリストのコンセンサス予想+プラス3年予想財務アナリストの目標株価アナリストリサーチレポートBlue Matrix市場価格30年株価配当、分割、措置ICEマーケットデータSECフォームS-1所有権10年トップ株主インサイダー取引SECフォーム4SECフォーム13Dマネジメント10年リーダーシップ・チーム取締役会SECフォーム10-KSECフォームDEF 14A主な進展10年会社からのお知らせSECフォーム8-K* 米国証券を対象とした例であり、非米国証券については、同等の規制書式および情報源を使用。特に断りのない限り、すべての財務データは1年ごとの期間に基づいていますが、四半期ごとに更新されます。これは、TTM（Trailing Twelve Month）またはLTM（Last Twelve Month）データとして知られています。詳細はこちら。分析モデルとスノーフレーク本レポートを生成するために使用した分析モデルの詳細は当社のGithubページでご覧いただけます。また、レポートの使用方法に関するガイドやYoutubeのチュートリアルも掲載しています。シンプリー・ウォールストリート分析モデルを設計・構築した世界トップクラスのチームについてご紹介します。業界およびセクターの指標私たちの業界とセクションの指標は、Simply Wall Stによって6時間ごとに計算されます。アナリスト筋Niching Industrial 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null nullCapital Securities Corporation
Upcoming Dividend • Jul 17Upcoming dividend of NT$2.00 per shareEligible shareholders must have bought the stock before 24 July 2025. Payment date: 26 August 2025. Payout ratio is on the higher end at 80%, and the cash payout ratio is above 100%. Trailing yield: 3.8%. Lower than top quartile of Taiwanese dividend payers (5.3%). Higher than average of industry peers (3.0%).
Declared Dividend • Jul 03Dividend of NT$2.00 announcedShareholders will receive a dividend of NT$2.00. Ex-date: 24th July 2025 Payment date: 26th August 2025 Dividend yield will be 3.8%, which is lower than the industry average of 4.0%. Sustainability & Growth Dividend is covered by earnings (80% earnings payout ratio) but not covered by cash flows (356% cash payout ratio). The dividend has increased by an average of 7.4% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to decline by 11% to shift the payout ratio to a potentially unsustainable range, which is more than the 3.3% EPS decline seen over the last 5 years.
Declared Dividend • Jul 06Dividend of NT$2.30 announcedShareholders will receive a dividend of NT$2.30. Ex-date: 23rd July 2024 Payment date: 22nd August 2024 Dividend yield will be 1.9%, which is lower than the industry average of 4.0%. Sustainability & Growth Dividend is not adequately covered by earnings (98% earnings payout ratio) nor is it covered by cash flows (dividend approximately 7x free cash flows). The dividend has increased by an average of 13% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 9.1% to bring the payout ratio under control, which is more than the 6.0% EPS growth achieved over the last 5 years.
Upcoming Dividend • Jul 17Upcoming dividend of NT$3.80 per share at 5.0% yieldEligible shareholders must have bought the stock before 24 July 2023. Payment date: 25 August 2023. Payout ratio is on the higher end at 90%, however this is supported by cash flows. Trailing yield: 5.0%. Lower than top quartile of Taiwanese dividend payers (5.5%). Higher than average of industry peers (4.1%).
Upcoming Dividend • Jul 11Upcoming dividend of NT$2.30 per shareEligible shareholders must have bought the stock before 18 July 2022. Payment date: 19 August 2022. Payout ratio is a comfortable 57% and this is well supported by cash flows. Trailing yield: 4.3%. Lower than top quartile of Taiwanese dividend payers (6.7%). Lower than average of industry peers (4.8%).
Upcoming Dividend • Jul 03Upcoming dividend of NT$1.80 per shareEligible shareholders must have bought the stock before 09 July 2021. Payment date: 13 August 2021. Trailing yield: 4.8%. Lower than top quartile of Taiwanese dividend payers (5.0%). Higher than average of industry peers (3.0%).
New Risk • May 09New minor risk - Profit margin trendThe company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 6.2% Last year net profit margin: 9.2% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 9.6% per year over the past 5 years. Minor Risks Dividend is not well covered by earnings (102% payout ratio). Share price has been volatile over the past 3 months (9.3% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (6.2% net profit margin).
Reported Earnings • May 09First quarter 2026 earnings released: EPS: NT$0.41 (vs NT$0.79 in 1Q 2025)First quarter 2026 results: EPS: NT$0.41 (down from NT$0.79 in 1Q 2025). Revenue: NT$316.0m (up 4.9% from 1Q 2025). Net income: NT$18.6m (down 48% from 1Q 2025). Profit margin: 5.9% (down from 12% in 1Q 2025). Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings.
New Risk • Apr 28New 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 9.0% 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 6.7% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (9.0% average weekly change). Large one-off items impacting financial results.
Valuation Update With 7 Day Price Move • Apr 17Investor sentiment improves as stock rises 16%After last week's 16% share price gain to NT$83.00, the stock trades at a trailing P/E ratio of 38.7x. Average trailing P/E is 29x in the Electronic industry in Taiwan. Total returns to shareholders of 50% over the past three years.
New Risk • Apr 14New minor risk - Earnings qualityThe company has large one-off items impacting its financial results. One-off items were 23% 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 6.7% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results.
Reported Earnings • Mar 14Full year 2025 earnings released: EPS: NT$2.15 (vs NT$2.39 in FY 2024)Full year 2025 results: EPS: NT$2.15 (down from NT$2.39 in FY 2024). Revenue: NT$1.28b (up 11% from FY 2024). Net income: NT$96.6m (down 10% from FY 2024). Profit margin: 7.6% (down from 9.3% in FY 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has remained flat, which means it is well ahead of earnings.
Buy Or Sell Opportunity • Mar 10Now 24% overvalued after recent price riseOver the last 90 days, the stock has risen 13% to NT$59.40. The fair value is estimated to be NT$47.96, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 7.2% over the last 3 years. Earnings per share has declined by 31%.
New Risk • Feb 28New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 7.0% 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 4.9% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (7.0% average weekly change). Large one-off items impacting financial results. Market cap is less than US$100m (NT$3.07b market cap, or US$97.8m).
お知らせ • Feb 12Niching Industrial Corporation, Annual General Meeting, May 28, 2026Niching Industrial Corporation, Annual General Meeting, May 28, 2026, at 10:00 Taipei Standard Time. Location: 2 floor no,60, t`ieh pao st., hsi tun district, taichung city Taiwan
Valuation Update With 7 Day Price Move • Dec 26Investor sentiment improves as stock rises 24%After last week's 24% share price gain to NT$67.70, the stock trades at a trailing P/E ratio of 27.8x. Average trailing P/E is 22x in the Electronic industry in Taiwan. Total returns to shareholders of 24% over the past three years.
Buy Or Sell Opportunity • Dec 23Now 28% overvaluedThe stock has been flat over the last 90 days, currently trading at NT$59.40. The fair value is estimated to be NT$46.42, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 7.2% over the last 3 years. Earnings per share has declined by 31%.
New Risk • Nov 27New minor risk - Earnings qualityThe company has large one-off items impacting its financial results. One-off items were 20% 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 4.9% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.9% average weekly change). Large one-off items impacting financial results. Market cap is less than US$100m (NT$2.40b market cap, or US$76.5m).
Reported Earnings • Nov 07Third quarter 2025 earnings released: EPS: NT$0.43 (vs NT$0.16 in 3Q 2024)Third quarter 2025 results: EPS: NT$0.43 (up from NT$0.16 in 3Q 2024). Revenue: NT$306.9m (flat on 3Q 2024). Net income: NT$19.3m (up 166% from 3Q 2024). Profit margin: 6.3% (up from 2.4% in 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings.
New Risk • Sep 02New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 6.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 92% Cash payout ratio: 159% Earnings have declined by 3.6% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (6.5% average weekly change). Market cap is less than US$100m (NT$2.84b market cap, or US$92.5m).
Valuation Update With 7 Day Price Move • Sep 02Investor sentiment improves as stock rises 23%After last week's 23% share price gain to NT$69.60, the stock trades at a trailing P/E ratio of 32.1x. Average trailing P/E is 23x in the Electronic industry in Taiwan. Total returns to shareholders of 54% over the past three years.
Valuation Update With 7 Day Price Move • Aug 18Investor sentiment improves as stock rises 15%After last week's 15% share price gain to NT$58.70, the stock trades at a trailing P/E ratio of 27x. Average trailing P/E is 22x in the Electronic industry in Taiwan. Total returns to shareholders of 22% over the past three years.
Reported Earnings • Aug 08Second quarter 2025 earnings released: EPS: NT$0.41 (vs NT$0.73 in 2Q 2024)Second quarter 2025 results: EPS: NT$0.41 (down from NT$0.73 in 2Q 2024). Revenue: NT$322.6m (up 7.0% from 2Q 2024). Net income: NT$18.7m (down 44% from 2Q 2024). Profit margin: 5.8% (down from 11% in 2Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings.
Upcoming Dividend • Jul 17Upcoming dividend of NT$2.00 per shareEligible shareholders must have bought the stock before 24 July 2025. Payment date: 26 August 2025. Payout ratio is on the higher end at 80%, and the cash payout ratio is above 100%. Trailing yield: 3.8%. Lower than top quartile of Taiwanese dividend payers (5.3%). Higher than average of industry peers (3.0%).
Declared Dividend • Jul 03Dividend of NT$2.00 announcedShareholders will receive a dividend of NT$2.00. Ex-date: 24th July 2025 Payment date: 26th August 2025 Dividend yield will be 3.8%, which is lower than the industry average of 4.0%. Sustainability & Growth Dividend is covered by earnings (80% earnings payout ratio) but not covered by cash flows (356% cash payout ratio). The dividend has increased by an average of 7.4% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to decline by 11% to shift the payout ratio to a potentially unsustainable range, which is more than the 3.3% EPS decline seen over the last 5 years.
Reported Earnings • May 08First quarter 2025 earnings released: EPS: NT$0.79 (vs NT$0.69 in 1Q 2024)First quarter 2025 results: EPS: NT$0.79 (up from NT$0.69 in 1Q 2024). Revenue: NT$301.2m (up 27% from 1Q 2024). Net income: NT$35.7m (up 15% from 1Q 2024). Profit margin: 12% (down from 13% in 1Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 32% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings.
Valuation Update With 7 Day Price Move • Apr 08Investor sentiment deteriorates as stock falls 18%After last week's 18% share price decline to NT$51.30, the stock trades at a trailing P/E ratio of 21.5x. Average trailing P/E is 17x in the Electronic industry in Taiwan. Total returns to shareholders of 13% over the past three years.
Reported Earnings • Mar 20Full year 2024 earnings released: EPS: NT$2.39 (vs NT$2.12 in FY 2023)Full year 2024 results: EPS: NT$2.39 (up from NT$2.12 in FY 2023). Revenue: NT$1.15b (up 18% from FY 2023). Net income: NT$107.5m (up 15% from FY 2023). Profit margin: 9.3% (in line with FY 2023). Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has increased by 12% per year, which means it is well ahead of earnings.
お知らせ • Mar 14Niching Industrial Corporation, Annual General Meeting, Jun 12, 2025Niching Industrial Corporation, Annual General Meeting, Jun 12, 2025. Location: 2 floor no,60, t`ieh pao st., hsi tun district, taichung city Taiwan
New Risk • Jan 15New minor risk - Market cap sizeThe company's market capitalization is less than US$100m. Market cap: NT$3.28b (US$99.5m) 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 Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 137% Paying a dividend despite having no free cash flows. Minor Risks Profit margins are more than 30% lower than last year (6.8% net profit margin). Market cap is less than US$100m (NT$3.28b market cap, or US$99.5m).
Reported Earnings • Nov 18Third quarter 2024 earnings released: EPS: NT$0.16 (vs NT$0.84 in 3Q 2023)Third quarter 2024 results: EPS: NT$0.16 (down from NT$0.84 in 3Q 2023). Revenue: NT$304.5m (up 17% from 3Q 2023). Net income: NT$7.27m (down 81% from 3Q 2023). Profit margin: 2.4% (down from 15% in 3Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings.
Reported Earnings • Aug 17Second quarter 2024 earnings released: EPS: NT$0.73 (vs NT$0.70 in 2Q 2023)Second quarter 2024 results: EPS: NT$0.73 (up from NT$0.70 in 2Q 2023). Revenue: NT$301.4m (up 16% from 2Q 2023). Net income: NT$33.0m (up 4.2% from 2Q 2023). Profit margin: 11% (down from 12% in 2Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 38% per year, which means it is well ahead of earnings.
Declared Dividend • Jul 06Dividend of NT$2.30 announcedShareholders will receive a dividend of NT$2.30. Ex-date: 23rd July 2024 Payment date: 22nd August 2024 Dividend yield will be 1.9%, which is lower than the industry average of 4.0%. Sustainability & Growth Dividend is not adequately covered by earnings (98% earnings payout ratio) nor is it covered by cash flows (dividend approximately 7x free cash flows). The dividend has increased by an average of 13% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 9.1% to bring the payout ratio under control, which is more than the 6.0% EPS growth achieved over the last 5 years.
Reported Earnings • May 12First quarter 2024 earnings released: EPS: NT$0.70 (vs NT$0.53 in 1Q 2023)First quarter 2024 results: EPS: NT$0.70 (up from NT$0.53 in 1Q 2023). Revenue: NT$238.1m (up 13% from 1Q 2023). Net income: NT$31.1m (up 46% from 1Q 2023). Profit margin: 13% (up from 10% in 1Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 48% per year, which means it is well ahead of earnings.
Valuation Update With 7 Day Price Move • Apr 11Investor sentiment improves as stock rises 21%After last week's 21% share price gain to NT$124, the stock trades at a trailing P/E ratio of 58.2x. Average trailing P/E is 25x in the Electronic industry in Taiwan. Total returns to shareholders of 227% over the past three years.
New Risk • Apr 10New 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: Major Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 139% Cash payout ratio: 112% Minor Risks 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 (9.6% net profit margin).
お知らせ • Mar 12Niching Industrial Corporation, Annual General Meeting, Jun 13, 2024Niching Industrial Corporation, Annual General Meeting, Jun 13, 2024.
Reported Earnings • Mar 09Full year 2023 earnings released: EPS: NT$2.16 (vs NT$5.01 in FY 2022)Full year 2023 results: EPS: NT$2.16 (down from NT$5.01 in FY 2022). Revenue: NT$976.4m (down 7.9% from FY 2022). Net income: NT$93.5m (down 52% from FY 2022). Profit margin: 9.6% (down from 19% in FY 2022). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 40% per year, which means it is tracking significantly ahead of earnings growth.
New Risk • Nov 13New 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 5.7% 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 Dividend is not well covered by earnings and cash flows. Payout ratio: 139% Cash payout ratio: 149% Minor Risks Share price has been volatile over the past 3 months (5.7% average weekly change). Profit margins are more than 30% lower than last year (12% net profit margin). Shareholders have been diluted in the past year (13% increase in shares outstanding).
Reported Earnings • Nov 04Third quarter 2023 earnings released: EPS: NT$0.86 (vs NT$1.52 in 3Q 2022)Third quarter 2023 results: EPS: NT$0.86 (down from NT$1.52 in 3Q 2022). Revenue: NT$259.3m (up 11% from 3Q 2022). Net income: NT$38.0m (down 36% from 3Q 2022). Profit margin: 15% (down from 26% in 3Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has increased by 45% per year, which means it is tracking significantly ahead of earnings growth.
New Risk • Oct 10New 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 5.9% 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 Dividend is not well covered by earnings and cash flows. Payout ratio: 114% Cash payout ratio: 329% Minor Risks Share price has been volatile over the past 3 months (5.9% average weekly change). Shareholders have been diluted in the past year (13% increase in shares outstanding).
New Risk • Aug 11New minor risk - Market cap sizeThe company's market capitalization is less than US$100m. Market cap: NT$3.15b (US$99.1m) 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 Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 114% Cash payout ratio: 329% Minor Risks Shareholders have been diluted in the past year (13% increase in shares outstanding). Market cap is less than US$100m (NT$3.15b market cap, or US$99.1m).
New Risk • Aug 06New major risk - Dividend sustainabilityThe dividend is not well covered by earnings and cash flows. Payout ratio: 114% Cash payout ratio: 329% Dividend yield: 5.1% 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 Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 114% Cash payout ratio: 329% Minor Risk Shareholders have been diluted in the past year (13% increase in shares outstanding).
Reported Earnings • Aug 05Second quarter 2023 earnings released: EPS: NT$0.72 (vs NT$1.58 in 2Q 2022)Second quarter 2023 results: EPS: NT$0.72 (down from NT$1.58 in 2Q 2022). Revenue: NT$260.3m (down 12% from 2Q 2022). Net income: NT$31.7m (down 49% from 2Q 2022). Profit margin: 12% (down from 21% in 2Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has increased by 25% per year, which means it is tracking significantly ahead of earnings growth.
Valuation Update With 7 Day Price Move • Jul 20Investor sentiment improves as stock rises 21%After last week's 21% share price gain to NT$86.30, the stock trades at a trailing P/E ratio of 22.9x. Average trailing P/E is 18x in the Electronic industry in Taiwan. Total returns to shareholders of 154% over the past three years.
Upcoming Dividend • Jul 17Upcoming dividend of NT$3.80 per share at 5.0% yieldEligible shareholders must have bought the stock before 24 July 2023. Payment date: 25 August 2023. Payout ratio is on the higher end at 90%, however this is supported by cash flows. Trailing yield: 5.0%. Lower than top quartile of Taiwanese dividend payers (5.5%). Higher than average of industry peers (4.1%).
New Risk • Jul 06New minor risk - Market cap sizeThe company's market capitalization is less than US$100m. Market cap: NT$3.12b (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: Minor Risks Dividend is not well covered by earnings (90% payout ratio). Shareholders have been diluted in the past year (13% increase in shares outstanding). Market cap is less than US$100m (NT$3.12b market cap, or US$99.6m).
Valuation Update With 7 Day Price Move • May 23Investor sentiment improves as stock rises 18%After last week's 18% share price gain to NT$74.80, the stock trades at a trailing P/E ratio of 16.8x. Average trailing P/E is 15x in the Electronic industry in Taiwan. Total returns to shareholders of 113% over the past three years.
Valuation Update With 7 Day Price Move • Nov 29Investor sentiment improved over the past weekAfter last week's 31% share price gain to NT$77.00, the stock trades at a trailing P/E ratio of 14.5x. Average trailing P/E is 11x in the Electronic industry in Taiwan. Total returns to shareholders of 185% over the past three years.
Reported Earnings • Nov 06Third quarter 2022 earnings released: EPS: NT$1.52 (vs NT$1.11 in 3Q 2021)Third quarter 2022 results: EPS: NT$1.52 (up from NT$1.11 in 3Q 2021). Revenue: NT$232.7m (down 25% from 3Q 2021). Net income: NT$59.5m (up 38% from 3Q 2021). Profit margin: 26% (up from 14% in 3Q 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 24% per year whereas the company’s share price has increased by 21% per year.
Reported Earnings • Aug 04Second quarter 2022 earnings released: EPS: NT$1.58 (vs NT$0.73 in 2Q 2021)Second quarter 2022 results: EPS: NT$1.58 (up from NT$0.73 in 2Q 2021). Revenue: NT$295.0m (down 9.1% from 2Q 2021). Net income: NT$62.0m (up 116% from 2Q 2021). Profit margin: 21% (up from 8.8% in 2Q 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 20% per year whereas the company’s share price has increased by 17% per year.
Upcoming Dividend • Jul 11Upcoming dividend of NT$2.30 per shareEligible shareholders must have bought the stock before 18 July 2022. Payment date: 19 August 2022. Payout ratio is a comfortable 57% and this is well supported by cash flows. Trailing yield: 4.3%. Lower than top quartile of Taiwanese dividend payers (6.7%). Lower than average of industry peers (4.8%).
Valuation Update With 7 Day Price Move • Jun 24Investor sentiment improved over the past weekAfter last week's 20% share price gain to NT$64.30, the stock trades at a trailing P/E ratio of 15.9x. Average trailing P/E is 13x in the Electronic industry in Taiwan. Total returns to shareholders of 221% over the past three years.
Reported Earnings • May 06First quarter 2022 earnings: EPS and revenues miss analyst expectationsFirst quarter 2022 results: EPS: NT$1.30 (up from NT$0.68 in 1Q 2021). Revenue: NT$295.1m (up 2.1% from 1Q 2021). Net income: NT$50.8m (up 90% from 1Q 2021). Profit margin: 17% (up from 9.3% in 1Q 2021). The increase in margin was primarily driven by lower expenses. Revenue missed analyst estimates by 11%. Earnings per share (EPS) also missed analyst estimates by 9.6%. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has increased by 38% per year, which means it is tracking significantly ahead of earnings growth.
Valuation Update With 7 Day Price Move • Apr 14Investor sentiment improved over the past weekAfter last week's 17% share price gain to NT$58.50, the stock trades at a trailing P/E ratio of 17x. Average trailing P/E is 16x in the Electronic industry in Taiwan. Total returns to shareholders of 187% over the past three years.
Valuation Update With 7 Day Price Move • Dec 08Investor sentiment deteriorated over the past weekAfter last week's 15% share price decline to NT$65.60, the stock trades at a trailing P/E ratio of 21.6x. Average trailing P/E is 17x in the Electronic industry in Taiwan. Total returns to shareholders of 274% over the past three years.
Valuation Update With 7 Day Price Move • Nov 18Investor sentiment improved over the past weekAfter last week's 16% share price gain to NT$48.30, the stock trades at a trailing P/E ratio of 15.9x. Average trailing P/E is 17x in the Electronic industry in Taiwan. Total returns to shareholders of 176% over the past three years.
Reported Earnings • Nov 07Third quarter 2021 earnings released: EPS NT$1.10 (vs NT$0.70 in 3Q 2020)The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$309.5m (up 27% from 3Q 2020). Net income: NT$43.2m (up 57% from 3Q 2020). Profit margin: 14% (up from 11% 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 19% per year but the company’s share price has increased by 29% per year, which means it is tracking significantly ahead of earnings growth.
Reported Earnings • Aug 09Second quarter 2021 earnings released: EPS NT$0.74 (vs NT$0.72 in 2Q 2020)The company reported a solid second quarter result with improved earnings and revenues, although profit margins were weaker. Second quarter 2021 results: Revenue: NT$324.5m (up 45% from 2Q 2020). Net income: NT$28.7m (up 1.6% from 2Q 2020). Profit margin: 8.8% (down from 13% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 22% per year whereas the company’s share price has increased by 18% per year.
Upcoming Dividend • Jul 03Upcoming dividend of NT$1.80 per shareEligible shareholders must have bought the stock before 09 July 2021. Payment date: 13 August 2021. Trailing yield: 4.8%. Lower than top quartile of Taiwanese dividend payers (5.0%). Higher than average of industry peers (3.0%).
分析記事 • Apr 19Could Niching Industrial Corporation (GTSM:3444) Have The Makings Of Another Dividend Aristocrat?Could Niching Industrial Corporation ( GTSM:3444 ) be an attractive dividend share to own for the long haul? Investors...
Valuation Update With 7 Day Price Move • Apr 09Investor sentiment improved over the past weekAfter last week's 21% share price gain to NT$48.70, the stock trades at a trailing P/E ratio of 17.9x. Average trailing P/E is 20x in the Electronic industry in Taiwan. Total returns to shareholders of 112% over the past three years.
お知らせ • Mar 21Niching Industrial Corporation, Annual General Meeting, Jun 16, 2021Niching Industrial Corporation, Annual General Meeting, Jun 16, 2021.
Reported Earnings • Mar 19Full year 2020 earnings released: EPS NT$2.72 (vs NT$2.68 in FY 2019)The company reported a solid full year result with improved earnings and revenues, although profit margins were weaker. Full year 2020 results: Revenue: NT$964.5m (up 20% from FY 2019). Net income: NT$106.4m (up 1.6% from FY 2019). Profit margin: 11% (down from 13% in FY 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth.
分析記事 • Mar 15Is Niching Industrial (GTSM:3444) A Future Multi-bagger?If you're looking for a multi-bagger, there's a few things to keep an eye out for. One common approach is to try and...
Is New 90 Day High Low • Feb 24New 90-day high: NT$39.50The company is up 10.0% from its price of NT$35.95 on 26 November 2020. The Taiwanese market is up 19% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 27% over the same period.
分析記事 • Feb 21Niching Industrial (GTSM:3444) Seems To Use Debt Rather SparinglyLegendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...
分析記事 • Feb 02Is Niching Industrial Corporation's (GTSM:3444) Recent Performance Tethered To Its Attractive Financial Prospects?Niching Industrial's (GTSM:3444) stock is up by 4.6% over the past three months. Given that the market rewards strong...
分析記事 • Jan 15Is Niching Industrial Corporation (GTSM:3444) A Smart Choice For Dividend Investors?Is Niching Industrial Corporation ( GTSM:3444 ) a good dividend stock? How can we tell? Dividend paying companies with...
分析記事 • Dec 28Did You Participate In Any Of Niching Industrial's (GTSM:3444) Fantastic 195% Return ?The worst result, after buying shares in a company (assuming no leverage), would be if you lose all the money you put...
Is New 90 Day High Low • Dec 17New 90-day high: NT$38.35The company is up 7.0% from its price of NT$36.00 on 18 September 2020. The Taiwanese market is up 10.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 11% over the same period.
分析記事 • Dec 10Here’s What’s Happening With Returns At Niching Industrial (GTSM:3444)What trends should we look for it we want to identify stocks that can multiply in value over the long term? Firstly...
分析記事 • Nov 19Niching Industrial (GTSM:3444) Could Easily Take On More DebtHoward Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...
Reported Earnings • Nov 08Third quarter 2020 earnings released: EPS NT$0.70The company reported a solid third quarter result with improved earnings and revenues, although profit margins were weaker. Third quarter 2020 results: Revenue: NT$243.1m (up 17% from 3Q 2019). Net income: NT$27.5m (up 6.4% from 3Q 2019). Profit margin: 11% (down from 12% in 3Q 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth.
Is New 90 Day High Low • Sep 24New 90-day low: NT$34.15The company is down 13% from its price of NT$39.45 on 24 June 2020. The Taiwanese market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is flat over the same period.