View ValuationTaiwan Union Technology 将来の成長Future 基準チェック /66Taiwan Union Technology利益と収益がそれぞれ年間51.8%と45.8%増加すると予測されています。EPS は年間 増加すると予想されています。自己資本利益率は 3 年後に53% 53.6%なると予測されています。主要情報51.8%収益成長率53.56%EPS成長率Electronic 収益成長33.3%収益成長率45.8%将来の株主資本利益率52.95%アナリストカバレッジGood最終更新日13 May 2026今後の成長に関する最新情報Major Estimate Revision • May 13Consensus revenue estimates increase by 18%The consensus outlook for revenues in fiscal year 2026 has improved. 2026 revenue forecast increased from NT$48.3b to NT$57.3b. EPS estimate increased from NT$24.12 to NT$32.29 per share. Net income forecast to grow 163% next year vs 44% growth forecast for Electronic industry in Taiwan. Consensus price target up from NT$851 to NT$1,694. Share price rose 9.9% to NT$1,445 over the past week.Price Target Changed • Apr 10Price target increased by 7.4% to NT$737Up from NT$686, the current price target is an average from 11 analysts. New target price is 8.6% below last closing price of NT$806. Stock is up 518% over the past year. The company is forecast to post earnings per share of NT$22.83 for next year compared to NT$12.13 last year.Price Target Changed • Apr 08Price target increased by 9.4% to NT$707Up from NT$646, the current price target is an average from 11 analysts. New target price is approximately in line with last closing price of NT$722. Stock is up 517% over the past year. The company is forecast to post earnings per share of NT$22.21 for next year compared to NT$12.13 last year.Price Target Changed • Jan 26Price target increased by 8.0% to NT$550Up from NT$509, the current price target is an average from 11 analysts. New target price is 7.3% above last closing price of NT$512. Stock is up 205% over the past year. The company is forecast to post earnings per share of NT$11.96 for next year compared to NT$9.56 last year.Price Target Changed • Jan 20Price target increased by 11% to NT$530Up from NT$477, the current price target is an average from 11 analysts. New target price is 12% above last closing price of NT$475. Stock is up 184% over the past year. The company is forecast to post earnings per share of NT$11.96 for next year compared to NT$9.56 last year.Price Target Changed • Jan 07Price target increased by 7.2% to NT$481Up from NT$449, the current price target is an average from 10 analysts. New target price is approximately in line with last closing price of NT$467. Stock is up 170% over the past year. The company is forecast to post earnings per share of NT$12.21 for next year compared to NT$9.56 last year.すべての更新を表示Recent updatesMajor Estimate Revision • May 13Consensus revenue estimates increase by 18%The consensus outlook for revenues in fiscal year 2026 has improved. 2026 revenue forecast increased from NT$48.3b to NT$57.3b. EPS estimate increased from NT$24.12 to NT$32.29 per share. Net income forecast to grow 163% next year vs 44% growth forecast for Electronic industry in Taiwan. Consensus price target up from NT$851 to NT$1,694. Share price rose 9.9% to NT$1,445 over the past week.New Risk • May 11New major risk - Share price stabilityThe company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Taiwanese stocks, typically moving 12% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (12% average weekly change). High level of non-cash earnings (55% accrual ratio).Reported Earnings • May 07First quarter 2026 earnings: Revenues exceed analysts expectations while EPS lags behindFirst quarter 2026 results: EPS: NT$4.00 (up from NT$2.43 in 1Q 2025). Revenue: NT$10.1b (up 58% from 1Q 2025). Net income: NT$1.26b (up 88% from 1Q 2025). Profit margin: 13% (up from 11% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.6%. Earnings per share (EPS) missed analyst estimates by 4.5%. Revenue is forecast to grow 46% p.a. on average during the next 3 years, compared to a 23% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has increased by 189% per year, which means it is tracking significantly ahead of earnings growth.Valuation Update With 7 Day Price Move • Apr 14Investor sentiment improves as stock rises 26%After last week's 26% share price gain to NT$860, the stock trades at a forward P/E ratio of 37x. Average forward P/E is 21x in the Electronic industry in Taiwan. Total returns to shareholders of 1,259% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$932 per share.Price Target Changed • Apr 10Price target increased by 7.4% to NT$737Up from NT$686, the current price target is an average from 11 analysts. New target price is 8.6% below last closing price of NT$806. Stock is up 518% over the past year. The company is forecast to post earnings per share of NT$22.83 for next year compared to NT$12.13 last year.Upcoming Dividend • Apr 09Upcoming dividend of NT$7.51 per shareEligible shareholders must have bought the stock before 16 April 2026. Payment date: 19 May 2026. Payout ratio is a comfortable 62% but the company is not cash flow positive. Trailing yield: 0.9%. Lower than top quartile of Taiwanese dividend payers (5.1%). Lower than average of industry peers (1.8%).Price Target Changed • Apr 08Price target increased by 9.4% to NT$707Up from NT$646, the current price target is an average from 11 analysts. New target price is approximately in line with last closing price of NT$722. Stock is up 517% over the past year. The company is forecast to post earnings per share of NT$22.21 for next year compared to NT$12.13 last year.Valuation Update With 7 Day Price Move • Mar 30Investor sentiment improves as stock rises 16%After last week's 16% share price gain to NT$626, the stock trades at a forward P/E ratio of 28x. Average forward P/E is 19x in the Electronic industry in Taiwan. Total returns to shareholders of 901% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$944 per share.Declared Dividend • Mar 14Dividend increased to NT$7.51Dividend of NT$7.51 is 15% higher than last year. Ex-date: 16th April 2026 Payment date: 19th May 2026 Dividend yield will be 1.5%, which is lower than the industry average of 4.0%. Sustainability & Growth Dividend is covered by earnings (59% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 15% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 107% over the next 2 years, which should provide support to the dividend and adequate earnings cover.お知らせ • Mar 13Taiwan Union Technology Corporation announces Annual dividend, payable on May 19, 2026Taiwan Union Technology Corporation announced Annual dividend of TWD 7.5076 per share payable on May 19, 2026, ex-date on April 16, 2026 and record date on April 18, 2026.お知らせ • Mar 12Taiwan Union Technology Corporation, Annual General Meeting, Jun 17, 2026Taiwan Union Technology Corporation, Annual General Meeting, Jun 17, 2026. Location: 1 floor no,77, hsien cheng 8th st., jhubei city, hsinchu county TaiwanReported Earnings • Mar 12Full year 2025 earnings: Revenues and EPS in line with analyst expectationsFull year 2025 results: EPS: NT$12.13 (up from NT$9.56 in FY 2024). Revenue: NT$30.3b (up 32% from FY 2024). Net income: NT$3.41b (up 31% from FY 2024). Profit margin: 11% (in line with FY 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 31% p.a. on average during the next 2 years, compared to a 18% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 51% per year but the company’s share price has increased by 90% per year, which means it is tracking significantly ahead of earnings growth.Valuation Update With 7 Day Price Move • Mar 09Investor sentiment deteriorates as stock falls 16%After last week's 16% share price decline to NT$454, the stock trades at a forward P/E ratio of 24x. Average forward P/E is 18x in the Electronic industry in Taiwan. Total returns to shareholders of 670% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$892 per share.Valuation Update With 7 Day Price Move • Jan 28Investor sentiment improves as stock rises 16%After last week's 16% share price gain to NT$539, the stock trades at a forward P/E ratio of 30x. Average forward P/E is 18x in the Electronic industry in Taiwan. Total returns to shareholders of 859% over the past three years.Price Target Changed • Jan 26Price target increased by 8.0% to NT$550Up from NT$509, the current price target is an average from 11 analysts. New target price is 7.3% above last closing price of NT$512. Stock is up 205% over the past year. The company is forecast to post earnings per share of NT$11.96 for next year compared to NT$9.56 last year.Price Target Changed • Jan 20Price target increased by 11% to NT$530Up from NT$477, the current price target is an average from 11 analysts. New target price is 12% above last closing price of NT$475. Stock is up 184% over the past year. The company is forecast to post earnings per share of NT$11.96 for next year compared to NT$9.56 last year.Price Target Changed • Jan 07Price target increased by 7.2% to NT$481Up from NT$449, the current price target is an average from 10 analysts. New target price is approximately in line with last closing price of NT$467. Stock is up 170% over the past year. The company is forecast to post earnings per share of NT$12.21 for next year compared to NT$9.56 last year.Valuation Update With 7 Day Price Move • Dec 24Investor sentiment improves as stock rises 20%After last week's 20% share price gain to NT$498, the stock trades at a forward P/E ratio of 29x. Average forward P/E is 16x in the Electronic industry in Taiwan. Total returns to shareholders of 1,002% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$868 per share.Price Target Changed • Nov 13Price target increased by 8.0% to NT$402Up from NT$372, the current price target is an average from 9 analysts. New target price is approximately in line with last closing price of NT$401. Stock is up 160% over the past year. The company is forecast to post earnings per share of NT$12.35 for next year compared to NT$9.56 last year.Buy Or Sell Opportunity • Nov 07Now 21% undervaluedOver the last 90 days, the stock has risen 39% to NT$381. The fair value is estimated to be NT$482, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 37%. Revenue is forecast to grow by 51% in 2 years. Earnings are forecast to grow by 100% in the next 2 years.Valuation Update With 7 Day Price Move • Oct 31Investor sentiment improves as stock rises 18%After last week's 18% share price gain to NT$386, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 17x in the Electronic industry in Taiwan. Total returns to shareholders of 783% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$478 per share.New Risk • Sep 01New major risk - Share price stabilityThe company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Taiwanese stocks, typically moving 8.1% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (8.1% average weekly change). High level of non-cash earnings (21% accrual ratio). Minor Risk Dividend is not well covered by cash flows (432% cash payout ratio).Valuation Update With 7 Day Price Move • Sep 01Investor sentiment improves as stock rises 20%After last week's 20% share price gain to NT$368, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 17x in the Electronic industry in Taiwan. Total returns to shareholders of 640% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$636 per share.Price Target Changed • Aug 27Price target increased by 7.4% to NT$348Up from NT$324, the current price target is an average from 9 analysts. New target price is approximately in line with last closing price of NT$332. Stock is up 99% over the past year. The company is forecast to post earnings per share of NT$11.78 for next year compared to NT$9.56 last year.Reported Earnings • Aug 16Second quarter 2025 earnings: EPS misses analyst expectationsSecond quarter 2025 results: EPS: NT$2.36 (down from NT$2.55 in 2Q 2024). Revenue: NT$6.78b (up 19% from 2Q 2024). Net income: NT$651.7m (down 6.0% from 2Q 2024). Profit margin: 9.6% (down from 12% 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 13%. Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has increased by 76% per year, which means it is tracking significantly ahead of earnings growth.Valuation Update With 7 Day Price Move • Aug 15Investor sentiment improves as stock rises 15%After last week's 15% share price gain to NT$318, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 17x in the Electronic industry in Taiwan. Total returns to shareholders of 524% over the past three years.Price Target Changed • Aug 15Price target increased by 13% to NT$301Up from NT$265, the current price target is an average from 8 analysts. New target price is 5.3% below last closing price of NT$318. Stock is up 94% over the past year. The company is forecast to post earnings per share of NT$11.58 for next year compared to NT$9.56 last year.Buy Or Sell Opportunity • Aug 06Now 20% undervaluedOver the last 90 days, the stock has risen 67% to NT$254. The fair value is estimated to be NT$319, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.4% over the last 3 years. Earnings per share has grown by 24%. Revenue is forecast to grow by 42% in 2 years. Earnings are forecast to grow by 63% in the next 2 years.Price Target Changed • Jul 17Price target increased by 8.1% to NT$265Up from NT$245, the current price target is an average from 8 analysts. New target price is approximately in line with last closing price of NT$257. Stock is up 55% over the past year. The company is forecast to post earnings per share of NT$12.21 for next year compared to NT$9.56 last year.Buy Or Sell Opportunity • Jul 11Now 21% undervaluedOver the last 90 days, the stock has risen 93% to NT$252. The fair value is estimated to be NT$319, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.4% over the last 3 years. Earnings per share has grown by 24%. Revenue is forecast to grow by 38% in 2 years. Earnings are forecast to grow by 63% in the next 2 years.Price Target Changed • Jul 10Price target increased by 10.0% to NT$255Up from NT$232, the current price target is an average from 8 analysts. New target price is approximately in line with last closing price of NT$256. Stock is up 48% over the past year. The company is forecast to post earnings per share of NT$12.26 for next year compared to NT$9.56 last year.Valuation Update With 7 Day Price Move • Jun 03Investor sentiment improves as stock rises 19%After last week's 19% share price gain to NT$189, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 14x in the Electronic industry in Taiwan. Total returns to shareholders of 193% over the past three years.Valuation Update With 7 Day Price Move • May 13Investor sentiment improves as stock rises 15%After last week's 15% share price gain to NT$162, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 13x in the Electronic industry in Taiwan. Total returns to shareholders of 150% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$291 per share.Reported Earnings • May 08First quarter 2025 earnings: EPS misses analyst expectationsFirst quarter 2025 results: EPS: NT$2.43 (up from NT$1.66 in 1Q 2024). Revenue: NT$6.37b (up 44% from 1Q 2024). Net income: NT$671.9m (up 49% from 1Q 2024). Profit margin: 11% (in line with 1Q 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 15%. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Electronic industry in Taiwan. 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 27% per year.お知らせ • May 01Taiwan Union Technology Corporation to Report Q1, 2025 Results on May 07, 2025Taiwan Union Technology Corporation announced that they will report Q1, 2025 results on May 07, 2025Valuation Update With 7 Day Price Move • Apr 29Investor sentiment improves as stock rises 17%After last week's 17% share price gain to NT$140, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 13x in the Electronic industry in Taiwan. Total returns to shareholders of 106% over the past three years.Upcoming Dividend • Apr 10Upcoming dividend of NT$6.50 per shareEligible shareholders must have bought the stock before 17 April 2025. Payment date: 21 May 2025. Payout ratio is a comfortable 68% but the company is not cash flow positive. Trailing yield: 5.1%. Lower than top quartile of Taiwanese dividend payers (6.1%). Higher than average of industry peers (4.4%).Valuation Update With 7 Day Price Move • Apr 08Investor sentiment deteriorates as stock falls 17%After last week's 17% share price decline to NT$130, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 13x in the Electronic industry in Taiwan. Total returns to shareholders of 101% over the past three years.New Risk • Apr 07New 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: Major Risk High level of non-cash earnings (31% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (6.4% average weekly change).Reported Earnings • Mar 14Full year 2024 earnings: EPS misses analyst expectationsFull year 2024 results: EPS: NT$9.56 (up from NT$3.05 in FY 2023). Revenue: NT$23.1b (up 44% from FY 2023). Net income: NT$2.60b (up 216% from FY 2023). Profit margin: 11% (up from 5.1% in FY 2023). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 1.0%. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has increased by 27% per year, which means it is tracking significantly ahead of earnings growth.Declared Dividend • Mar 14Dividend increased to NT$6.51Dividend of NT$6.51 is 62% higher than last year. Ex-date: 17th April 2025 Payment date: 21st May 2025 Dividend yield will be 3.9%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by earnings (48% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 13% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 53% over the next 2 years, which should provide support to the dividend and adequate earnings cover.お知らせ • Mar 13+ 1 more updateTaiwan Union Technology Corporation, Annual General Meeting, Jun 17, 2025Taiwan Union Technology Corporation, Annual General Meeting, Jun 17, 2025. Location: 1 floor no,77, hsien cheng 8th st., jhubei city, hsinchu county Taiwanお知らせ • Mar 05Taiwan Union Technology Corporation to Report Fiscal Year 2024 Results on Mar 12, 2025Taiwan Union Technology Corporation announced that they will report fiscal year 2024 results on Mar 12, 2025お知らせ • Jan 16+ 1 more updateTaiwan Union Technology Corporation Announces Financial Officer ChangesTaiwan Union Technology Corporation announced change of Financial and Accounting Officer. Name, title, and resume of the previous position holder: HUANG, WEN-HSU, Financial and Accounting Officer. Name, title, and resume of the new position holder: LIN, HSIAO-CHIAO, Director of company's finance department Chief Financial Officer & Spokesperson of LuxNet Corporation Chief Financial Officer of Original BioMedicals Co. Ltd. Reason for the change: Vice President HUANG, WEN-HSU, Finance and Accounting Officer, took over the position of Chief Investment Officer of company. Effective date: January 15, 2025. Changes in company's Financial and Accounting Officer will be reported to the latest board of directors for ratification.Price Target Changed • Nov 07Price target decreased by 8.3% to NT$226Down from NT$247, the current price target is an average from 5 analysts. New target price is 38% above last closing price of NT$164. Stock is up 40% over the past year. The company is forecast to post earnings per share of NT$9.91 for next year compared to NT$3.05 last year.Reported Earnings • Nov 03Third quarter 2024 earnings: EPS misses analyst expectationsThird quarter 2024 results: EPS: NT$2.77 (up from NT$1.36 in 3Q 2023). Revenue: NT$6.62b (up 59% from 3Q 2023). Net income: NT$754.1m (up 104% from 3Q 2023). Profit margin: 11% (up from 8.8% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 13%. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 17% per year, which means it is well ahead of earnings.お知らせ • Oct 23Taiwan Union Technology Corporation to Report Q3, 2024 Results on Oct 30, 2024Taiwan Union Technology Corporation announced that they will report Q3, 2024 results on Oct 30, 2024Reported Earnings • Aug 06Second quarter 2024 earnings: Revenues and EPS in line with analyst expectationsSecond quarter 2024 results: EPS: NT$2.55 (up from NT$1.00 in 2Q 2023). Revenue: NT$5.70b (up 52% from 2Q 2023). Net income: NT$693.6m (up 159% from 2Q 2023). Profit margin: 12% (up from 7.1% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Electronic industry in Taiwan. 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 10% per year, which means it is well ahead of earnings.お知らせ • Jul 25Taiwan Union Technology Corporation to Report Q2, 2024 Results on Jul 31, 2024Taiwan Union Technology Corporation announced that they will report Q2, 2024 results on Jul 31, 2024Board Change • Jul 01High number of new directorsDirector Chung-Herng Hsin was the last director to join the board, commencing their role in 2024.お知らせ • Jun 20Taiwan Union Technology Corporation Announces Changes in Audit CommitteeTaiwan Union Technology Corporation announced the change of members of the fourth audit committee of the company. Name of the previous position holder: Ms. Li, Yu-Ying/Taiwan Union Technology Corp. Independent Director. Resume of the previous position holder: Li, Yu-Ying (Independent Director of Taiwan Union Technology Corp.). Name of the new position holder: Ms. Yeh, Shu-Wen/Taiwan Union Technology Corp. Independent Director. Resume of the new position holder: Independent Director: Yeh, Shu-Wen (CPA at C&S Certified Public Accountant Firm). Reason for the change: term expired. Effective date of the new member is June 19, 2024.New Risk • May 11New major risk - Earnings qualityThe company has a high level of non-cash earnings. Accrual ratio: 22% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (22% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (8.1% average weekly change).Reported Earnings • May 11First quarter 2024 earnings: Revenues exceed analysts expectations while EPS lags behindFirst quarter 2024 results: EPS: NT$1.66 (up from NT$0.77 loss in 1Q 2023). Revenue: NT$4.43b (up 21% from 1Q 2023). Net income: NT$451.8m (up NT$658.2m from 1Q 2023). Profit margin: 10% (up from net loss in 1Q 2023). The move to profitability was driven by higher revenue. Revenue exceeded analyst estimates by 1.8%. Earnings per share (EPS) missed analyst estimates by 1.4%. Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has increased by 25% per year, which means it is well ahead of earnings.Price Target Changed • May 10Price target increased by 13% to NT$219Up from NT$193, the current price target is an average from 4 analysts. New target price is 17% above last closing price of NT$188. Stock is up 198% over the past year. The company is forecast to post earnings per share of NT$9.47 for next year compared to NT$3.05 last year.Major Estimate Revision • May 09Consensus EPS estimates increase by 10%The consensus outlook for earnings per share (EPS) in fiscal year 2024 has improved. 2024 revenue forecast increased from NT$20.4b to NT$20.8b. EPS estimate increased from NT$7.39 to NT$8.15 per share. Net income forecast to grow 170% next year vs 35% growth forecast for Electronic industry in Taiwan. Consensus price target up from NT$209 to NT$215. Share price was steady at NT$186 over the past week.Valuation Update With 7 Day Price Move • Apr 22Investor sentiment deteriorates as stock falls 16%After last week's 16% share price decline to NT$153, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 15x in the Electronic industry in Taiwan. Total returns to shareholders of 48% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$93.34 per share.Upcoming Dividend • Apr 11Upcoming dividend of NT$4.01 per shareEligible shareholders must have bought the stock before 18 April 2024. Payment date: 22 May 2024. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 2.1%. Lower than top quartile of Taiwanese dividend payers (4.5%). Lower than average of industry peers (3.0%).Reported Earnings • Mar 09Full year 2023 earnings: EPS misses analyst expectationsFull year 2023 results: EPS: NT$3.05 (down from NT$4.69 in FY 2022). Revenue: NT$16.0b (down 13% from FY 2022). Net income: NT$823.4m (down 35% from FY 2022). Profit margin: 5.1% (down from 6.8% in FY 2022). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 4.3%. Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Electronic industry in Taiwan. 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 12% per year, which means it is well ahead of earnings.Declared Dividend • Mar 08Dividend of NT$4.01 announcedShareholders will receive a dividend of NT$4.01. Ex-date: 18th April 2024 Payment date: 22nd May 2024 Dividend yield will be 2.6%, which is lower than the industry average of 4.0%. Sustainability & Growth Dividend is not covered by earnings (150% earnings payout ratio) nor is it adequately covered by cash flows (90.2% cash payout ratio). The dividend has increased by an average of 17% 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 66% to bring the payout ratio under control. EPS is expected to grow by 167% over the next 2 years, which is sufficient to bring the dividend into a sustainable range.お知らせ • Mar 07Taiwan Union Technology Corporation, Annual General Meeting, Jun 19, 2024Taiwan Union Technology Corporation, Annual General Meeting, Jun 19, 2024. Location: Hsinchu County Industrial Association (Conference Center), 1st Floor No. 77, Xianzheng 8th Street, Zhubei City Zhubei City Taiwan Agenda: To Proposal for 2023Annual Business Report; to Proposal for reviewed 2023 annual final accounts report of the audit committee;to Proposal for 2023report on the distribution of employees and directors remuneration; to Proposal for 2023 report on the distribution of surplus cash dividends; to Proposal for 2023 surplus distribution; and to discuss other matters.Price Target Changed • Mar 07Price target increased by 8.4% to NT$204Up from NT$188, the current price target is an average from 3 analysts. New target price is 25% above last closing price of NT$163. Stock is up 134% over the past year. The company is forecast to post earnings per share of NT$3.16 for next year compared to NT$4.69 last year.Valuation Update With 7 Day Price Move • Feb 02Investor sentiment improves as stock rises 16%After last week's 16% share price gain to NT$147, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 16x in the Electronic industry in Taiwan. Total returns to shareholders of 47% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$76.56 per share.Reported Earnings • Nov 03Third quarter 2023 earnings: EPS misses analyst expectationsThird quarter 2023 results: EPS: NT$1.36 (up from NT$1.00 in 3Q 2022). Revenue: NT$4.18b (down 7.5% from 3Q 2022). Net income: NT$369.3m (up 37% from 3Q 2022). Profit margin: 8.8% (up from 6.0% in 3Q 2022). The increase in margin was driven by lower expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 6.6%. Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 8.7% growth forecast for the Electronic industry in Taiwan. 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 2% per year, which means it is well ahead of earnings.Valuation Update With 7 Day Price Move • Oct 18Investor sentiment deteriorates as stock falls 16%After last week's 16% share price decline to NT$117, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 18x in the Electronic industry in Taiwan. Total returns to shareholders of 36% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$93.72 per share.Valuation Update With 7 Day Price Move • Sep 12Investor sentiment deteriorates as stock falls 17%After last week's 17% share price decline to NT$117, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 17x in the Electronic industry in Taiwan. Total returns to shareholders of 12% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$92.54 per share.Price Target Changed • Jul 29Price target increased by 28% to NT$130Up from NT$102, the current price target is an average from 3 analysts. New target price is 6.0% below last closing price of NT$138. Stock is up 164% over the past year. The company is forecast to post earnings per share of NT$3.46 for next year compared to NT$4.69 last year.Reported Earnings • Jul 27Second quarter 2023 earnings released: EPS: NT$1.00 (vs NT$1.08 in 2Q 2022)Second quarter 2023 results: EPS: NT$1.00 (down from NT$1.08 in 2Q 2022). Revenue: NT$3.76b (down 22% from 2Q 2022). Net income: NT$268.3m (down 7.3% from 2Q 2022). Profit margin: 7.1% (up from 6.0% in 2Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 7.1% growth forecast for the Electronic industry in Taiwan. 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.New Risk • Jul 24New major risk - Share price stabilityThe company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Taiwanese stocks, typically moving 8.0% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (8.0% average weekly change). Minor Risks Dividend is not well covered by earnings (167% payout ratio). Profit margins are more than 30% lower than last year (3.8% net profit margin).Price Target Changed • Jul 20Price target increased by 30% to NT$102Up from NT$78.50, the current price target is an average from 3 analysts. New target price is 14% below last closing price of NT$119. Stock is up 107% over the past year. The company is forecast to post earnings per share of NT$4.97 for next year compared to NT$4.69 last year.Valuation Update With 7 Day Price Move • Jul 13Investor sentiment improves as stock rises 17%After last week's 17% share price gain to NT$90.50, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 16x in the Electronic industry in Taiwan. Total loss to shareholders of 20% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$79.37 per share.Valuation Update With 7 Day Price Move • May 23Investor sentiment improves as stock rises 16%After last week's 16% share price gain to NT$73.60, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 14x in the Electronic industry in Taiwan. Total loss to shareholders of 35% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$80.97 per share.Buying Opportunity • May 10Now 24% undervaluedOver the last 90 days, the stock is up 3.8%. The fair value is estimated to be NT$83.38, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.2% over the last 3 years. Earnings per share has declined by 9.2%. For the next 3 years, revenue is forecast to grow by 7.9% per annum. Earnings is also forecast to grow by 20% per annum over the same time period.Major Estimate Revision • May 06Consensus EPS estimates fall by 19%The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from NT$17.6b to NT$17.4b. EPS estimate also fell from NT$6.17 per share to NT$4.98 per share. Net income forecast to shrink 22% next year vs 9.2% decline forecast for Electronic industry in Taiwan. Consensus price target broadly unchanged at NT$77.00. Share price rose 3.9% to NT$69.00 over the past week.Major Estimate Revision • Apr 28Consensus EPS estimates fall by 23%The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate fell from NT$8.02 to NT$6.17 per share. Revenue forecast steady at NT$17.6b. Net income forecast to grow 30% next year vs 7.0% decline forecast for Electronic industry in Taiwan. Consensus price target down from NT$80.50 to NT$78.50. Share price rose 3.7% to NT$66.60 over the past week.Major Estimate Revision • Apr 26Consensus EPS estimates fall by 23%The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate fell from NT$8.02 to NT$6.17 per share. Revenue forecast steady at NT$17.6b. Net income forecast to grow 30% next year vs 7.0% decline forecast for Electronic industry in Taiwan. Consensus price target down from NT$80.50 to NT$78.50. Share price fell 4.1% to NT$63.80 over the past week.Major Estimate Revision • Apr 16Consensus revenue estimates increase by 14%The consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast increased from NT$18.1b to NT$20.6b. EPS estimate unchanged from NT$8.02 at last update. Electronic industry in Taiwan expected to see average net income decline 7.3% next year. Consensus price target broadly unchanged at NT$0. Share price fell 2.1% to NT$69.20 over the past week.Upcoming Dividend • Apr 06Upcoming dividend of NT$4.00 per share at 5.7% yieldEligible shareholders must have bought the stock before 13 April 2023. Payment date: 19 May 2023. Payout ratio is on the higher end at 85%, however this is supported by cash flows. Trailing yield: 5.7%. Lower than top quartile of Taiwanese dividend payers (5.9%). Higher than average of industry peers (4.5%).Price Target Changed • Mar 11Price target increased by 14% to NT$78.50Up from NT$69.08, the current price target is an average from 4 analysts. New target price is 14% above last closing price of NT$68.60. Stock is down 16% over the past year. The company is forecast to post earnings per share of NT$5.62 for next year compared to NT$7.01 last year.Valuation Update With 7 Day Price Move • Mar 09Investor sentiment improves as stock rises 18%After last week's 18% share price gain to NT$69.50, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 12x in the Electronic industry in Taiwan. Total loss to shareholders of 33% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$131 per share.Major Estimate Revision • Dec 22Consensus forecasts updatedThe consensus outlook for 2022 has been updated. 2022 EPS estimate fell from NT$6.60 to NT$5.75. Revenue forecast unchanged from NT$21.6b at last update. Net income forecast to grow 29% next year vs 4.4% growth forecast for Electronic industry in Taiwan. Consensus price target of NT$69.08 unchanged from last update. Share price fell 6.5% to NT$51.90 over the past week.Reported Earnings • Nov 03Third quarter 2022 earnings: EPS and revenues miss analyst expectationsThird quarter 2022 results: EPS: NT$1.00 (down from NT$2.08 in 3Q 2021). Revenue: NT$4.52b (down 20% from 3Q 2021). Net income: NT$270.0m (down 52% from 3Q 2021). Profit margin: 6.0% (down from 9.9% in 3Q 2021). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 5.0%. Earnings per share (EPS) also missed analyst estimates by 32%. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 7.2% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has fallen by 28% per year, which means it is performing significantly worse than earnings.Price Target Changed • Aug 18Price target decreased to NT$69.90Down from NT$82.54, the current price target is an average from 4 analysts. New target price is 22% above last closing price of NT$57.10. Stock is down 46% over the past year. The company is forecast to post earnings per share of NT$5.57 for next year compared to NT$7.01 last year.Major Estimate Revision • Aug 03Consensus EPS estimates fall by 19%The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from NT$21.1b to NT$19.8b. EPS estimate also fell from NT$6.91 per share to NT$5.57 per share. Net income forecast to grow 7.8% next year vs 9.2% growth forecast for Electronic industry in Taiwan. Consensus price target down from NT$82.54 to NT$78.32. Share price fell 4.2% to NT$52.50 over the past week.Reported Earnings • Jul 29Second quarter 2022 earnings: EPS and revenues miss analyst expectationsSecond quarter 2022 results: EPS: NT$1.08 (down from NT$2.21 in 2Q 2021). Revenue: NT$4.79b (down 12% from 2Q 2021). Net income: NT$289.5m (down 51% from 2Q 2021). Profit margin: 6.0% (down from 11% in 2Q 2021). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 2.1%. Earnings per share (EPS) also missed analyst estimates by 28%. Over the next year, revenue is forecast to grow 3.7%, compared to a 9.6% growth forecast for the industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has fallen by 24% per year, which means it is performing significantly worse than earnings.Price Target Changed • Jul 15Price target decreased to NT$91.14Down from NT$103, the current price target is an average from 5 analysts. New target price is 70% above last closing price of NT$53.70. Stock is down 56% over the past year. The company is forecast to post earnings per share of NT$6.91 for next year compared to NT$7.01 last year.Price Target Changed • Jun 30Price target decreased to NT$102Down from NT$110, the current price target is an average from 5 analysts. New target price is 82% above last closing price of NT$55.90. Stock is down 51% over the past year. The company is forecast to post earnings per share of NT$6.91 for next year compared to NT$7.01 last year.Reported Earnings • May 06First quarter 2022 earnings: EPS and revenues miss analyst expectationsFirst quarter 2022 results: EPS: NT$1.53 (up from NT$1.29 in 1Q 2021). Revenue: NT$5.02b (up 7.1% from 1Q 2021). Net income: NT$412.3m (up 20% from 1Q 2021). Profit margin: 8.2% (up from 7.3% in 1Q 2021). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 1.3%. Earnings per share (EPS) also missed analyst estimates by 9.7%. Over the next year, revenue is forecast to grow 9.4%, compared to a 10% growth forecast for the industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has fallen by 14% per year, which means it is performing significantly worse than earnings.Upcoming Dividend • Apr 07Upcoming dividend of NT$5.00 per shareEligible shareholders must have bought the stock before 14 April 2022. Payment date: 20 May 2022. Payout ratio is a comfortable 71% but the company is paying out more than the cash it is generating. Trailing yield: 5.9%. Within top quartile of Taiwanese dividend payers (5.6%). Higher than average of industry peers (3.8%).Major Estimate Revision • Mar 17Consensus forecasts updatedThe consensus outlook for 2022 has been updated. 2022 revenue forecast increased from NT$23.2b to NT$23.6b. EPS estimate fell from NT$9.45 to NT$8.26 per share. Net income forecast to grow 18% next year vs 17% growth forecast for Electronic industry in Taiwan. Consensus price target down from NT$128 to NT$118. Share price fell 5.7% to NT$79.80 over the past week.Price Target Changed • Mar 16Price target decreased to NT$118Down from NT$128, the current price target is an average from 5 analysts. New target price is 48% above last closing price of NT$79.80. Stock is down 29% over the past year. The company is forecast to post earnings per share of NT$8.26 for next year compared to NT$7.01 last year.Reported Earnings • Mar 13Full year 2021 earnings: EPS misses analyst expectationsFull year 2021 results: EPS: NT$7.01 (up from NT$6.67 in FY 2020). Revenue: NT$21.1b (up 17% from FY 2020). Net income: NT$1.88b (up 6.0% from FY 2020). Profit margin: 8.9% (in line with FY 2020). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 10%. Over the next year, revenue is forecast to grow 12%, compared to a 8.8% growth forecast for the industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 5% per year whereas the company’s share price has fallen by 8% per year.Reported Earnings • Oct 31Third quarter 2021 earnings released: EPS NT$2.08 (vs NT$1.41 in 3Q 2020)The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$5.67b (up 32% from 3Q 2020). Net income: NT$558.5m (up 48% from 3Q 2020). Profit margin: 9.9% (up from 8.7% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings.Reported Earnings • Aug 05Second quarter 2021 earnings released: EPS NT$2.21 (vs NT$2.54 in 2Q 2020)The company reported a soft second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2021 results: Revenue: NT$5.45b (up 3.6% from 2Q 2020). Net income: NT$592.5m (down 12% from 2Q 2020). Profit margin: 11% (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 remained flat whereas the company’s share price has fallen by 1% per year.Board Change • Aug 01High number of new directorsIndependent Director Chin-Tay Shih was the last director to join the board, commencing their role in 2021.Executive Departure • Jul 13Independent Director Yung-Tang Pan has left the companyOn the 1st of July, Yung-Tang Pan's tenure as Independent Director ended after 20.0 years in the role. We don't have any record of a personal shareholding under Yung-Tang's name. A total of 3 executives have left over the last 12 months. The current median tenure of the management team is 6.08 years.業績と収益の成長予測TPEX:6274 - アナリストの将来予測と過去の財務データ ( )TWD Millions日付収益収益フリー・キャッシュフロー営業活動によるキャッシュ平均アナリスト数12/31/2028139,61423,20811,73613,037612/31/202789,09214,6132,5996,4531112/31/202657,2789,174-2,936-1,111113/31/202634,0223,997-3,784-1,515N/A12/31/202530,3403,409-1,391596N/A9/30/202527,5263,031-1691,761N/A6/30/202526,0852,7834161,984N/A3/31/202525,0092,824-1661,282N/A12/31/202423,0702,604-523677N/A9/30/202421,1752,292-58773N/A6/30/202418,7311,907-198123N/A3/31/202416,7831,482-81537N/A12/31/202316,0038234851,120N/A9/30/202315,7317211,2021,898N/A6/30/202316,0686221,7952,521N/A3/31/202317,1016432,2492,701N/A12/31/202218,4721,2611,9412,326N/A9/30/202219,6541,3581,3621,798N/A6/30/202220,8081,6461,1001,524N/A3/31/202221,4641,9497181,142N/A12/31/202121,1321,8811,0711,512N/A9/30/202119,8181,7941,3891,803N/A6/30/202118,4541,6121,8122,254N/A3/31/202118,2651,6942,0132,533N/A12/31/202018,0471,7761,5792,093N/A9/30/202018,7351,8528241,697N/A6/30/202019,0251,9869291,523N/A3/31/202018,1191,7988361,580N/A12/31/201917,5271,752N/A2,022N/A9/30/201916,9191,821N/A2,452N/A6/30/201917,0051,851N/A2,434N/A3/31/201917,2331,817N/A2,722N/A12/31/201817,7871,836N/A2,549N/A9/30/201817,9391,565N/A1,471N/A6/30/201817,3081,283N/A871N/A3/31/201816,5651,086N/A-24N/A12/31/201716,1031,002N/A-254N/A9/30/201715,3821,097N/A337N/A6/30/201714,6951,023N/A896N/A3/31/201714,189997N/A1,157N/A12/31/201613,423909N/A1,396N/A9/30/201613,127823N/A1,573N/A6/30/201613,261860N/A1,137N/A3/31/201612,918806N/A1,336N/A12/31/201512,903751N/A1,552N/A9/30/201513,145788N/A1,000N/A6/30/201513,228776N/A941N/Aもっと見るアナリストによる今後の成長予測収入対貯蓄率: 6274の予測収益成長率 (年間51.8% ) は 貯蓄率 ( 1.3% ) を上回っています。収益対市場: 6274の収益 ( 51.8% ) はTW市場 ( 26.1% ) よりも速いペースで成長すると予測されています。高成長収益: 6274の収益は今後 3 年間で 大幅に 増加すると予想されています。収益対市場: 6274の収益 ( 45.8% ) TW市場 ( 18.6% ) よりも速いペースで成長すると予測されています。高い収益成長: 6274の収益 ( 45.8% ) 20%よりも速いペースで成長すると予測されています。一株当たり利益成長率予想将来の株主資本利益率将来のROE: 6274の 自己資本利益率 は、3年後には非常に高くなると予測されています ( 53 %)。成長企業の発掘7D1Y7D1Y7D1YTech 業界の高成長企業。View Past Performance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2026/05/21 23:02終値2026/05/21 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Taiwan Union Technology Corporation 11 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。13 アナリスト機関Mike YangBofA Global ResearchYijun TuCapital Securities CorporationJack ChenCitigroup Inc10 その他のアナリストを表示
Major Estimate Revision • May 13Consensus revenue estimates increase by 18%The consensus outlook for revenues in fiscal year 2026 has improved. 2026 revenue forecast increased from NT$48.3b to NT$57.3b. EPS estimate increased from NT$24.12 to NT$32.29 per share. Net income forecast to grow 163% next year vs 44% growth forecast for Electronic industry in Taiwan. Consensus price target up from NT$851 to NT$1,694. Share price rose 9.9% to NT$1,445 over the past week.
Price Target Changed • Apr 10Price target increased by 7.4% to NT$737Up from NT$686, the current price target is an average from 11 analysts. New target price is 8.6% below last closing price of NT$806. Stock is up 518% over the past year. The company is forecast to post earnings per share of NT$22.83 for next year compared to NT$12.13 last year.
Price Target Changed • Apr 08Price target increased by 9.4% to NT$707Up from NT$646, the current price target is an average from 11 analysts. New target price is approximately in line with last closing price of NT$722. Stock is up 517% over the past year. The company is forecast to post earnings per share of NT$22.21 for next year compared to NT$12.13 last year.
Price Target Changed • Jan 26Price target increased by 8.0% to NT$550Up from NT$509, the current price target is an average from 11 analysts. New target price is 7.3% above last closing price of NT$512. Stock is up 205% over the past year. The company is forecast to post earnings per share of NT$11.96 for next year compared to NT$9.56 last year.
Price Target Changed • Jan 20Price target increased by 11% to NT$530Up from NT$477, the current price target is an average from 11 analysts. New target price is 12% above last closing price of NT$475. Stock is up 184% over the past year. The company is forecast to post earnings per share of NT$11.96 for next year compared to NT$9.56 last year.
Price Target Changed • Jan 07Price target increased by 7.2% to NT$481Up from NT$449, the current price target is an average from 10 analysts. New target price is approximately in line with last closing price of NT$467. Stock is up 170% over the past year. The company is forecast to post earnings per share of NT$12.21 for next year compared to NT$9.56 last year.
Major Estimate Revision • May 13Consensus revenue estimates increase by 18%The consensus outlook for revenues in fiscal year 2026 has improved. 2026 revenue forecast increased from NT$48.3b to NT$57.3b. EPS estimate increased from NT$24.12 to NT$32.29 per share. Net income forecast to grow 163% next year vs 44% growth forecast for Electronic industry in Taiwan. Consensus price target up from NT$851 to NT$1,694. Share price rose 9.9% to NT$1,445 over the past week.
New Risk • May 11New major risk - Share price stabilityThe company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Taiwanese stocks, typically moving 12% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (12% average weekly change). High level of non-cash earnings (55% accrual ratio).
Reported Earnings • May 07First quarter 2026 earnings: Revenues exceed analysts expectations while EPS lags behindFirst quarter 2026 results: EPS: NT$4.00 (up from NT$2.43 in 1Q 2025). Revenue: NT$10.1b (up 58% from 1Q 2025). Net income: NT$1.26b (up 88% from 1Q 2025). Profit margin: 13% (up from 11% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.6%. Earnings per share (EPS) missed analyst estimates by 4.5%. Revenue is forecast to grow 46% p.a. on average during the next 3 years, compared to a 23% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has increased by 189% per year, which means it is tracking significantly ahead of earnings growth.
Valuation Update With 7 Day Price Move • Apr 14Investor sentiment improves as stock rises 26%After last week's 26% share price gain to NT$860, the stock trades at a forward P/E ratio of 37x. Average forward P/E is 21x in the Electronic industry in Taiwan. Total returns to shareholders of 1,259% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$932 per share.
Price Target Changed • Apr 10Price target increased by 7.4% to NT$737Up from NT$686, the current price target is an average from 11 analysts. New target price is 8.6% below last closing price of NT$806. Stock is up 518% over the past year. The company is forecast to post earnings per share of NT$22.83 for next year compared to NT$12.13 last year.
Upcoming Dividend • Apr 09Upcoming dividend of NT$7.51 per shareEligible shareholders must have bought the stock before 16 April 2026. Payment date: 19 May 2026. Payout ratio is a comfortable 62% but the company is not cash flow positive. Trailing yield: 0.9%. Lower than top quartile of Taiwanese dividend payers (5.1%). Lower than average of industry peers (1.8%).
Price Target Changed • Apr 08Price target increased by 9.4% to NT$707Up from NT$646, the current price target is an average from 11 analysts. New target price is approximately in line with last closing price of NT$722. Stock is up 517% over the past year. The company is forecast to post earnings per share of NT$22.21 for next year compared to NT$12.13 last year.
Valuation Update With 7 Day Price Move • Mar 30Investor sentiment improves as stock rises 16%After last week's 16% share price gain to NT$626, the stock trades at a forward P/E ratio of 28x. Average forward P/E is 19x in the Electronic industry in Taiwan. Total returns to shareholders of 901% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$944 per share.
Declared Dividend • Mar 14Dividend increased to NT$7.51Dividend of NT$7.51 is 15% higher than last year. Ex-date: 16th April 2026 Payment date: 19th May 2026 Dividend yield will be 1.5%, which is lower than the industry average of 4.0%. Sustainability & Growth Dividend is covered by earnings (59% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 15% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 107% over the next 2 years, which should provide support to the dividend and adequate earnings cover.
お知らせ • Mar 13Taiwan Union Technology Corporation announces Annual dividend, payable on May 19, 2026Taiwan Union Technology Corporation announced Annual dividend of TWD 7.5076 per share payable on May 19, 2026, ex-date on April 16, 2026 and record date on April 18, 2026.
お知らせ • Mar 12Taiwan Union Technology Corporation, Annual General Meeting, Jun 17, 2026Taiwan Union Technology Corporation, Annual General Meeting, Jun 17, 2026. Location: 1 floor no,77, hsien cheng 8th st., jhubei city, hsinchu county Taiwan
Reported Earnings • Mar 12Full year 2025 earnings: Revenues and EPS in line with analyst expectationsFull year 2025 results: EPS: NT$12.13 (up from NT$9.56 in FY 2024). Revenue: NT$30.3b (up 32% from FY 2024). Net income: NT$3.41b (up 31% from FY 2024). Profit margin: 11% (in line with FY 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 31% p.a. on average during the next 2 years, compared to a 18% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 51% per year but the company’s share price has increased by 90% per year, which means it is tracking significantly ahead of earnings growth.
Valuation Update With 7 Day Price Move • Mar 09Investor sentiment deteriorates as stock falls 16%After last week's 16% share price decline to NT$454, the stock trades at a forward P/E ratio of 24x. Average forward P/E is 18x in the Electronic industry in Taiwan. Total returns to shareholders of 670% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$892 per share.
Valuation Update With 7 Day Price Move • Jan 28Investor sentiment improves as stock rises 16%After last week's 16% share price gain to NT$539, the stock trades at a forward P/E ratio of 30x. Average forward P/E is 18x in the Electronic industry in Taiwan. Total returns to shareholders of 859% over the past three years.
Price Target Changed • Jan 26Price target increased by 8.0% to NT$550Up from NT$509, the current price target is an average from 11 analysts. New target price is 7.3% above last closing price of NT$512. Stock is up 205% over the past year. The company is forecast to post earnings per share of NT$11.96 for next year compared to NT$9.56 last year.
Price Target Changed • Jan 20Price target increased by 11% to NT$530Up from NT$477, the current price target is an average from 11 analysts. New target price is 12% above last closing price of NT$475. Stock is up 184% over the past year. The company is forecast to post earnings per share of NT$11.96 for next year compared to NT$9.56 last year.
Price Target Changed • Jan 07Price target increased by 7.2% to NT$481Up from NT$449, the current price target is an average from 10 analysts. New target price is approximately in line with last closing price of NT$467. Stock is up 170% over the past year. The company is forecast to post earnings per share of NT$12.21 for next year compared to NT$9.56 last year.
Valuation Update With 7 Day Price Move • Dec 24Investor sentiment improves as stock rises 20%After last week's 20% share price gain to NT$498, the stock trades at a forward P/E ratio of 29x. Average forward P/E is 16x in the Electronic industry in Taiwan. Total returns to shareholders of 1,002% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$868 per share.
Price Target Changed • Nov 13Price target increased by 8.0% to NT$402Up from NT$372, the current price target is an average from 9 analysts. New target price is approximately in line with last closing price of NT$401. Stock is up 160% over the past year. The company is forecast to post earnings per share of NT$12.35 for next year compared to NT$9.56 last year.
Buy Or Sell Opportunity • Nov 07Now 21% undervaluedOver the last 90 days, the stock has risen 39% to NT$381. The fair value is estimated to be NT$482, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 37%. Revenue is forecast to grow by 51% in 2 years. Earnings are forecast to grow by 100% in the next 2 years.
Valuation Update With 7 Day Price Move • Oct 31Investor sentiment improves as stock rises 18%After last week's 18% share price gain to NT$386, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 17x in the Electronic industry in Taiwan. Total returns to shareholders of 783% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$478 per share.
New Risk • Sep 01New major risk - Share price stabilityThe company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Taiwanese stocks, typically moving 8.1% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (8.1% average weekly change). High level of non-cash earnings (21% accrual ratio). Minor Risk Dividend is not well covered by cash flows (432% cash payout ratio).
Valuation Update With 7 Day Price Move • Sep 01Investor sentiment improves as stock rises 20%After last week's 20% share price gain to NT$368, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 17x in the Electronic industry in Taiwan. Total returns to shareholders of 640% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$636 per share.
Price Target Changed • Aug 27Price target increased by 7.4% to NT$348Up from NT$324, the current price target is an average from 9 analysts. New target price is approximately in line with last closing price of NT$332. Stock is up 99% over the past year. The company is forecast to post earnings per share of NT$11.78 for next year compared to NT$9.56 last year.
Reported Earnings • Aug 16Second quarter 2025 earnings: EPS misses analyst expectationsSecond quarter 2025 results: EPS: NT$2.36 (down from NT$2.55 in 2Q 2024). Revenue: NT$6.78b (up 19% from 2Q 2024). Net income: NT$651.7m (down 6.0% from 2Q 2024). Profit margin: 9.6% (down from 12% 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 13%. Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has increased by 76% per year, which means it is tracking significantly ahead of earnings growth.
Valuation Update With 7 Day Price Move • Aug 15Investor sentiment improves as stock rises 15%After last week's 15% share price gain to NT$318, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 17x in the Electronic industry in Taiwan. Total returns to shareholders of 524% over the past three years.
Price Target Changed • Aug 15Price target increased by 13% to NT$301Up from NT$265, the current price target is an average from 8 analysts. New target price is 5.3% below last closing price of NT$318. Stock is up 94% over the past year. The company is forecast to post earnings per share of NT$11.58 for next year compared to NT$9.56 last year.
Buy Or Sell Opportunity • Aug 06Now 20% undervaluedOver the last 90 days, the stock has risen 67% to NT$254. The fair value is estimated to be NT$319, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.4% over the last 3 years. Earnings per share has grown by 24%. Revenue is forecast to grow by 42% in 2 years. Earnings are forecast to grow by 63% in the next 2 years.
Price Target Changed • Jul 17Price target increased by 8.1% to NT$265Up from NT$245, the current price target is an average from 8 analysts. New target price is approximately in line with last closing price of NT$257. Stock is up 55% over the past year. The company is forecast to post earnings per share of NT$12.21 for next year compared to NT$9.56 last year.
Buy Or Sell Opportunity • Jul 11Now 21% undervaluedOver the last 90 days, the stock has risen 93% to NT$252. The fair value is estimated to be NT$319, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.4% over the last 3 years. Earnings per share has grown by 24%. Revenue is forecast to grow by 38% in 2 years. Earnings are forecast to grow by 63% in the next 2 years.
Price Target Changed • Jul 10Price target increased by 10.0% to NT$255Up from NT$232, the current price target is an average from 8 analysts. New target price is approximately in line with last closing price of NT$256. Stock is up 48% over the past year. The company is forecast to post earnings per share of NT$12.26 for next year compared to NT$9.56 last year.
Valuation Update With 7 Day Price Move • Jun 03Investor sentiment improves as stock rises 19%After last week's 19% share price gain to NT$189, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 14x in the Electronic industry in Taiwan. Total returns to shareholders of 193% over the past three years.
Valuation Update With 7 Day Price Move • May 13Investor sentiment improves as stock rises 15%After last week's 15% share price gain to NT$162, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 13x in the Electronic industry in Taiwan. Total returns to shareholders of 150% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$291 per share.
Reported Earnings • May 08First quarter 2025 earnings: EPS misses analyst expectationsFirst quarter 2025 results: EPS: NT$2.43 (up from NT$1.66 in 1Q 2024). Revenue: NT$6.37b (up 44% from 1Q 2024). Net income: NT$671.9m (up 49% from 1Q 2024). Profit margin: 11% (in line with 1Q 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 15%. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Electronic industry in Taiwan. 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 27% per year.
お知らせ • May 01Taiwan Union Technology Corporation to Report Q1, 2025 Results on May 07, 2025Taiwan Union Technology Corporation announced that they will report Q1, 2025 results on May 07, 2025
Valuation Update With 7 Day Price Move • Apr 29Investor sentiment improves as stock rises 17%After last week's 17% share price gain to NT$140, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 13x in the Electronic industry in Taiwan. Total returns to shareholders of 106% over the past three years.
Upcoming Dividend • Apr 10Upcoming dividend of NT$6.50 per shareEligible shareholders must have bought the stock before 17 April 2025. Payment date: 21 May 2025. Payout ratio is a comfortable 68% but the company is not cash flow positive. Trailing yield: 5.1%. Lower than top quartile of Taiwanese dividend payers (6.1%). Higher than average of industry peers (4.4%).
Valuation Update With 7 Day Price Move • Apr 08Investor sentiment deteriorates as stock falls 17%After last week's 17% share price decline to NT$130, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 13x in the Electronic industry in Taiwan. Total returns to shareholders of 101% over the past three years.
New Risk • Apr 07New 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: Major Risk High level of non-cash earnings (31% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (6.4% average weekly change).
Reported Earnings • Mar 14Full year 2024 earnings: EPS misses analyst expectationsFull year 2024 results: EPS: NT$9.56 (up from NT$3.05 in FY 2023). Revenue: NT$23.1b (up 44% from FY 2023). Net income: NT$2.60b (up 216% from FY 2023). Profit margin: 11% (up from 5.1% in FY 2023). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 1.0%. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has increased by 27% per year, which means it is tracking significantly ahead of earnings growth.
Declared Dividend • Mar 14Dividend increased to NT$6.51Dividend of NT$6.51 is 62% higher than last year. Ex-date: 17th April 2025 Payment date: 21st May 2025 Dividend yield will be 3.9%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by earnings (48% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 13% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 53% over the next 2 years, which should provide support to the dividend and adequate earnings cover.
お知らせ • Mar 13+ 1 more updateTaiwan Union Technology Corporation, Annual General Meeting, Jun 17, 2025Taiwan Union Technology Corporation, Annual General Meeting, Jun 17, 2025. Location: 1 floor no,77, hsien cheng 8th st., jhubei city, hsinchu county Taiwan
お知らせ • Mar 05Taiwan Union Technology Corporation to Report Fiscal Year 2024 Results on Mar 12, 2025Taiwan Union Technology Corporation announced that they will report fiscal year 2024 results on Mar 12, 2025
お知らせ • Jan 16+ 1 more updateTaiwan Union Technology Corporation Announces Financial Officer ChangesTaiwan Union Technology Corporation announced change of Financial and Accounting Officer. Name, title, and resume of the previous position holder: HUANG, WEN-HSU, Financial and Accounting Officer. Name, title, and resume of the new position holder: LIN, HSIAO-CHIAO, Director of company's finance department Chief Financial Officer & Spokesperson of LuxNet Corporation Chief Financial Officer of Original BioMedicals Co. Ltd. Reason for the change: Vice President HUANG, WEN-HSU, Finance and Accounting Officer, took over the position of Chief Investment Officer of company. Effective date: January 15, 2025. Changes in company's Financial and Accounting Officer will be reported to the latest board of directors for ratification.
Price Target Changed • Nov 07Price target decreased by 8.3% to NT$226Down from NT$247, the current price target is an average from 5 analysts. New target price is 38% above last closing price of NT$164. Stock is up 40% over the past year. The company is forecast to post earnings per share of NT$9.91 for next year compared to NT$3.05 last year.
Reported Earnings • Nov 03Third quarter 2024 earnings: EPS misses analyst expectationsThird quarter 2024 results: EPS: NT$2.77 (up from NT$1.36 in 3Q 2023). Revenue: NT$6.62b (up 59% from 3Q 2023). Net income: NT$754.1m (up 104% from 3Q 2023). Profit margin: 11% (up from 8.8% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 13%. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 17% per year, which means it is well ahead of earnings.
お知らせ • Oct 23Taiwan Union Technology Corporation to Report Q3, 2024 Results on Oct 30, 2024Taiwan Union Technology Corporation announced that they will report Q3, 2024 results on Oct 30, 2024
Reported Earnings • Aug 06Second quarter 2024 earnings: Revenues and EPS in line with analyst expectationsSecond quarter 2024 results: EPS: NT$2.55 (up from NT$1.00 in 2Q 2023). Revenue: NT$5.70b (up 52% from 2Q 2023). Net income: NT$693.6m (up 159% from 2Q 2023). Profit margin: 12% (up from 7.1% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Electronic industry in Taiwan. 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 10% per year, which means it is well ahead of earnings.
お知らせ • Jul 25Taiwan Union Technology Corporation to Report Q2, 2024 Results on Jul 31, 2024Taiwan Union Technology Corporation announced that they will report Q2, 2024 results on Jul 31, 2024
Board Change • Jul 01High number of new directorsDirector Chung-Herng Hsin was the last director to join the board, commencing their role in 2024.
お知らせ • Jun 20Taiwan Union Technology Corporation Announces Changes in Audit CommitteeTaiwan Union Technology Corporation announced the change of members of the fourth audit committee of the company. Name of the previous position holder: Ms. Li, Yu-Ying/Taiwan Union Technology Corp. Independent Director. Resume of the previous position holder: Li, Yu-Ying (Independent Director of Taiwan Union Technology Corp.). Name of the new position holder: Ms. Yeh, Shu-Wen/Taiwan Union Technology Corp. Independent Director. Resume of the new position holder: Independent Director: Yeh, Shu-Wen (CPA at C&S Certified Public Accountant Firm). Reason for the change: term expired. Effective date of the new member is June 19, 2024.
New Risk • May 11New major risk - Earnings qualityThe company has a high level of non-cash earnings. Accrual ratio: 22% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (22% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (8.1% average weekly change).
Reported Earnings • May 11First quarter 2024 earnings: Revenues exceed analysts expectations while EPS lags behindFirst quarter 2024 results: EPS: NT$1.66 (up from NT$0.77 loss in 1Q 2023). Revenue: NT$4.43b (up 21% from 1Q 2023). Net income: NT$451.8m (up NT$658.2m from 1Q 2023). Profit margin: 10% (up from net loss in 1Q 2023). The move to profitability was driven by higher revenue. Revenue exceeded analyst estimates by 1.8%. Earnings per share (EPS) missed analyst estimates by 1.4%. Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has increased by 25% per year, which means it is well ahead of earnings.
Price Target Changed • May 10Price target increased by 13% to NT$219Up from NT$193, the current price target is an average from 4 analysts. New target price is 17% above last closing price of NT$188. Stock is up 198% over the past year. The company is forecast to post earnings per share of NT$9.47 for next year compared to NT$3.05 last year.
Major Estimate Revision • May 09Consensus EPS estimates increase by 10%The consensus outlook for earnings per share (EPS) in fiscal year 2024 has improved. 2024 revenue forecast increased from NT$20.4b to NT$20.8b. EPS estimate increased from NT$7.39 to NT$8.15 per share. Net income forecast to grow 170% next year vs 35% growth forecast for Electronic industry in Taiwan. Consensus price target up from NT$209 to NT$215. Share price was steady at NT$186 over the past week.
Valuation Update With 7 Day Price Move • Apr 22Investor sentiment deteriorates as stock falls 16%After last week's 16% share price decline to NT$153, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 15x in the Electronic industry in Taiwan. Total returns to shareholders of 48% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$93.34 per share.
Upcoming Dividend • Apr 11Upcoming dividend of NT$4.01 per shareEligible shareholders must have bought the stock before 18 April 2024. Payment date: 22 May 2024. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 2.1%. Lower than top quartile of Taiwanese dividend payers (4.5%). Lower than average of industry peers (3.0%).
Reported Earnings • Mar 09Full year 2023 earnings: EPS misses analyst expectationsFull year 2023 results: EPS: NT$3.05 (down from NT$4.69 in FY 2022). Revenue: NT$16.0b (down 13% from FY 2022). Net income: NT$823.4m (down 35% from FY 2022). Profit margin: 5.1% (down from 6.8% in FY 2022). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 4.3%. Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Electronic industry in Taiwan. 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 12% per year, which means it is well ahead of earnings.
Declared Dividend • Mar 08Dividend of NT$4.01 announcedShareholders will receive a dividend of NT$4.01. Ex-date: 18th April 2024 Payment date: 22nd May 2024 Dividend yield will be 2.6%, which is lower than the industry average of 4.0%. Sustainability & Growth Dividend is not covered by earnings (150% earnings payout ratio) nor is it adequately covered by cash flows (90.2% cash payout ratio). The dividend has increased by an average of 17% 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 66% to bring the payout ratio under control. EPS is expected to grow by 167% over the next 2 years, which is sufficient to bring the dividend into a sustainable range.
お知らせ • Mar 07Taiwan Union Technology Corporation, Annual General Meeting, Jun 19, 2024Taiwan Union Technology Corporation, Annual General Meeting, Jun 19, 2024. Location: Hsinchu County Industrial Association (Conference Center), 1st Floor No. 77, Xianzheng 8th Street, Zhubei City Zhubei City Taiwan Agenda: To Proposal for 2023Annual Business Report; to Proposal for reviewed 2023 annual final accounts report of the audit committee;to Proposal for 2023report on the distribution of employees and directors remuneration; to Proposal for 2023 report on the distribution of surplus cash dividends; to Proposal for 2023 surplus distribution; and to discuss other matters.
Price Target Changed • Mar 07Price target increased by 8.4% to NT$204Up from NT$188, the current price target is an average from 3 analysts. New target price is 25% above last closing price of NT$163. Stock is up 134% over the past year. The company is forecast to post earnings per share of NT$3.16 for next year compared to NT$4.69 last year.
Valuation Update With 7 Day Price Move • Feb 02Investor sentiment improves as stock rises 16%After last week's 16% share price gain to NT$147, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 16x in the Electronic industry in Taiwan. Total returns to shareholders of 47% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$76.56 per share.
Reported Earnings • Nov 03Third quarter 2023 earnings: EPS misses analyst expectationsThird quarter 2023 results: EPS: NT$1.36 (up from NT$1.00 in 3Q 2022). Revenue: NT$4.18b (down 7.5% from 3Q 2022). Net income: NT$369.3m (up 37% from 3Q 2022). Profit margin: 8.8% (up from 6.0% in 3Q 2022). The increase in margin was driven by lower expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 6.6%. Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 8.7% growth forecast for the Electronic industry in Taiwan. 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 2% per year, which means it is well ahead of earnings.
Valuation Update With 7 Day Price Move • Oct 18Investor sentiment deteriorates as stock falls 16%After last week's 16% share price decline to NT$117, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 18x in the Electronic industry in Taiwan. Total returns to shareholders of 36% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$93.72 per share.
Valuation Update With 7 Day Price Move • Sep 12Investor sentiment deteriorates as stock falls 17%After last week's 17% share price decline to NT$117, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 17x in the Electronic industry in Taiwan. Total returns to shareholders of 12% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$92.54 per share.
Price Target Changed • Jul 29Price target increased by 28% to NT$130Up from NT$102, the current price target is an average from 3 analysts. New target price is 6.0% below last closing price of NT$138. Stock is up 164% over the past year. The company is forecast to post earnings per share of NT$3.46 for next year compared to NT$4.69 last year.
Reported Earnings • Jul 27Second quarter 2023 earnings released: EPS: NT$1.00 (vs NT$1.08 in 2Q 2022)Second quarter 2023 results: EPS: NT$1.00 (down from NT$1.08 in 2Q 2022). Revenue: NT$3.76b (down 22% from 2Q 2022). Net income: NT$268.3m (down 7.3% from 2Q 2022). Profit margin: 7.1% (up from 6.0% in 2Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 7.1% growth forecast for the Electronic industry in Taiwan. 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.
New Risk • Jul 24New major risk - Share price stabilityThe company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Taiwanese stocks, typically moving 8.0% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (8.0% average weekly change). Minor Risks Dividend is not well covered by earnings (167% payout ratio). Profit margins are more than 30% lower than last year (3.8% net profit margin).
Price Target Changed • Jul 20Price target increased by 30% to NT$102Up from NT$78.50, the current price target is an average from 3 analysts. New target price is 14% below last closing price of NT$119. Stock is up 107% over the past year. The company is forecast to post earnings per share of NT$4.97 for next year compared to NT$4.69 last year.
Valuation Update With 7 Day Price Move • Jul 13Investor sentiment improves as stock rises 17%After last week's 17% share price gain to NT$90.50, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 16x in the Electronic industry in Taiwan. Total loss to shareholders of 20% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$79.37 per share.
Valuation Update With 7 Day Price Move • May 23Investor sentiment improves as stock rises 16%After last week's 16% share price gain to NT$73.60, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 14x in the Electronic industry in Taiwan. Total loss to shareholders of 35% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$80.97 per share.
Buying Opportunity • May 10Now 24% undervaluedOver the last 90 days, the stock is up 3.8%. The fair value is estimated to be NT$83.38, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.2% over the last 3 years. Earnings per share has declined by 9.2%. For the next 3 years, revenue is forecast to grow by 7.9% per annum. Earnings is also forecast to grow by 20% per annum over the same time period.
Major Estimate Revision • May 06Consensus EPS estimates fall by 19%The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from NT$17.6b to NT$17.4b. EPS estimate also fell from NT$6.17 per share to NT$4.98 per share. Net income forecast to shrink 22% next year vs 9.2% decline forecast for Electronic industry in Taiwan. Consensus price target broadly unchanged at NT$77.00. Share price rose 3.9% to NT$69.00 over the past week.
Major Estimate Revision • Apr 28Consensus EPS estimates fall by 23%The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate fell from NT$8.02 to NT$6.17 per share. Revenue forecast steady at NT$17.6b. Net income forecast to grow 30% next year vs 7.0% decline forecast for Electronic industry in Taiwan. Consensus price target down from NT$80.50 to NT$78.50. Share price rose 3.7% to NT$66.60 over the past week.
Major Estimate Revision • Apr 26Consensus EPS estimates fall by 23%The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate fell from NT$8.02 to NT$6.17 per share. Revenue forecast steady at NT$17.6b. Net income forecast to grow 30% next year vs 7.0% decline forecast for Electronic industry in Taiwan. Consensus price target down from NT$80.50 to NT$78.50. Share price fell 4.1% to NT$63.80 over the past week.
Major Estimate Revision • Apr 16Consensus revenue estimates increase by 14%The consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast increased from NT$18.1b to NT$20.6b. EPS estimate unchanged from NT$8.02 at last update. Electronic industry in Taiwan expected to see average net income decline 7.3% next year. Consensus price target broadly unchanged at NT$0. Share price fell 2.1% to NT$69.20 over the past week.
Upcoming Dividend • Apr 06Upcoming dividend of NT$4.00 per share at 5.7% yieldEligible shareholders must have bought the stock before 13 April 2023. Payment date: 19 May 2023. Payout ratio is on the higher end at 85%, however this is supported by cash flows. Trailing yield: 5.7%. Lower than top quartile of Taiwanese dividend payers (5.9%). Higher than average of industry peers (4.5%).
Price Target Changed • Mar 11Price target increased by 14% to NT$78.50Up from NT$69.08, the current price target is an average from 4 analysts. New target price is 14% above last closing price of NT$68.60. Stock is down 16% over the past year. The company is forecast to post earnings per share of NT$5.62 for next year compared to NT$7.01 last year.
Valuation Update With 7 Day Price Move • Mar 09Investor sentiment improves as stock rises 18%After last week's 18% share price gain to NT$69.50, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 12x in the Electronic industry in Taiwan. Total loss to shareholders of 33% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$131 per share.
Major Estimate Revision • Dec 22Consensus forecasts updatedThe consensus outlook for 2022 has been updated. 2022 EPS estimate fell from NT$6.60 to NT$5.75. Revenue forecast unchanged from NT$21.6b at last update. Net income forecast to grow 29% next year vs 4.4% growth forecast for Electronic industry in Taiwan. Consensus price target of NT$69.08 unchanged from last update. Share price fell 6.5% to NT$51.90 over the past week.
Reported Earnings • Nov 03Third quarter 2022 earnings: EPS and revenues miss analyst expectationsThird quarter 2022 results: EPS: NT$1.00 (down from NT$2.08 in 3Q 2021). Revenue: NT$4.52b (down 20% from 3Q 2021). Net income: NT$270.0m (down 52% from 3Q 2021). Profit margin: 6.0% (down from 9.9% in 3Q 2021). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 5.0%. Earnings per share (EPS) also missed analyst estimates by 32%. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 7.2% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has fallen by 28% per year, which means it is performing significantly worse than earnings.
Price Target Changed • Aug 18Price target decreased to NT$69.90Down from NT$82.54, the current price target is an average from 4 analysts. New target price is 22% above last closing price of NT$57.10. Stock is down 46% over the past year. The company is forecast to post earnings per share of NT$5.57 for next year compared to NT$7.01 last year.
Major Estimate Revision • Aug 03Consensus EPS estimates fall by 19%The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from NT$21.1b to NT$19.8b. EPS estimate also fell from NT$6.91 per share to NT$5.57 per share. Net income forecast to grow 7.8% next year vs 9.2% growth forecast for Electronic industry in Taiwan. Consensus price target down from NT$82.54 to NT$78.32. Share price fell 4.2% to NT$52.50 over the past week.
Reported Earnings • Jul 29Second quarter 2022 earnings: EPS and revenues miss analyst expectationsSecond quarter 2022 results: EPS: NT$1.08 (down from NT$2.21 in 2Q 2021). Revenue: NT$4.79b (down 12% from 2Q 2021). Net income: NT$289.5m (down 51% from 2Q 2021). Profit margin: 6.0% (down from 11% in 2Q 2021). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 2.1%. Earnings per share (EPS) also missed analyst estimates by 28%. Over the next year, revenue is forecast to grow 3.7%, compared to a 9.6% growth forecast for the industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has fallen by 24% per year, which means it is performing significantly worse than earnings.
Price Target Changed • Jul 15Price target decreased to NT$91.14Down from NT$103, the current price target is an average from 5 analysts. New target price is 70% above last closing price of NT$53.70. Stock is down 56% over the past year. The company is forecast to post earnings per share of NT$6.91 for next year compared to NT$7.01 last year.
Price Target Changed • Jun 30Price target decreased to NT$102Down from NT$110, the current price target is an average from 5 analysts. New target price is 82% above last closing price of NT$55.90. Stock is down 51% over the past year. The company is forecast to post earnings per share of NT$6.91 for next year compared to NT$7.01 last year.
Reported Earnings • May 06First quarter 2022 earnings: EPS and revenues miss analyst expectationsFirst quarter 2022 results: EPS: NT$1.53 (up from NT$1.29 in 1Q 2021). Revenue: NT$5.02b (up 7.1% from 1Q 2021). Net income: NT$412.3m (up 20% from 1Q 2021). Profit margin: 8.2% (up from 7.3% in 1Q 2021). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 1.3%. Earnings per share (EPS) also missed analyst estimates by 9.7%. Over the next year, revenue is forecast to grow 9.4%, compared to a 10% growth forecast for the industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has fallen by 14% per year, which means it is performing significantly worse than earnings.
Upcoming Dividend • Apr 07Upcoming dividend of NT$5.00 per shareEligible shareholders must have bought the stock before 14 April 2022. Payment date: 20 May 2022. Payout ratio is a comfortable 71% but the company is paying out more than the cash it is generating. Trailing yield: 5.9%. Within top quartile of Taiwanese dividend payers (5.6%). Higher than average of industry peers (3.8%).
Major Estimate Revision • Mar 17Consensus forecasts updatedThe consensus outlook for 2022 has been updated. 2022 revenue forecast increased from NT$23.2b to NT$23.6b. EPS estimate fell from NT$9.45 to NT$8.26 per share. Net income forecast to grow 18% next year vs 17% growth forecast for Electronic industry in Taiwan. Consensus price target down from NT$128 to NT$118. Share price fell 5.7% to NT$79.80 over the past week.
Price Target Changed • Mar 16Price target decreased to NT$118Down from NT$128, the current price target is an average from 5 analysts. New target price is 48% above last closing price of NT$79.80. Stock is down 29% over the past year. The company is forecast to post earnings per share of NT$8.26 for next year compared to NT$7.01 last year.
Reported Earnings • Mar 13Full year 2021 earnings: EPS misses analyst expectationsFull year 2021 results: EPS: NT$7.01 (up from NT$6.67 in FY 2020). Revenue: NT$21.1b (up 17% from FY 2020). Net income: NT$1.88b (up 6.0% from FY 2020). Profit margin: 8.9% (in line with FY 2020). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 10%. Over the next year, revenue is forecast to grow 12%, compared to a 8.8% growth forecast for the industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 5% per year whereas the company’s share price has fallen by 8% per year.
Reported Earnings • Oct 31Third quarter 2021 earnings released: EPS NT$2.08 (vs NT$1.41 in 3Q 2020)The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$5.67b (up 32% from 3Q 2020). Net income: NT$558.5m (up 48% from 3Q 2020). Profit margin: 9.9% (up from 8.7% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings.
Reported Earnings • Aug 05Second quarter 2021 earnings released: EPS NT$2.21 (vs NT$2.54 in 2Q 2020)The company reported a soft second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2021 results: Revenue: NT$5.45b (up 3.6% from 2Q 2020). Net income: NT$592.5m (down 12% from 2Q 2020). Profit margin: 11% (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 remained flat whereas the company’s share price has fallen by 1% per year.
Board Change • Aug 01High number of new directorsIndependent Director Chin-Tay Shih was the last director to join the board, commencing their role in 2021.
Executive Departure • Jul 13Independent Director Yung-Tang Pan has left the companyOn the 1st of July, Yung-Tang Pan's tenure as Independent Director ended after 20.0 years in the role. We don't have any record of a personal shareholding under Yung-Tang's name. A total of 3 executives have left over the last 12 months. The current median tenure of the management team is 6.08 years.