View Past PerformanceHarmony Electronics バランスシートの健全性財務の健全性 基準チェック /46Harmony Electronicsの総株主資本はNT$3.6B 、総負債はNT$1.2Bで、負債比率は34.1%となります。総資産と総負債はそれぞれNT$5.8BとNT$2.1Bです。 Harmony Electronicsの EBIT はNT$78.2Mで、利息カバレッジ比率-4.7です。現金および短期投資はNT$1.4Bです。主要情報34.13%負債資本比率NT$1.24b負債インタレスト・カバレッジ・レシオ-4.7x現金NT$1.35bエクイティNT$3.64b負債合計NT$2.15b総資産NT$5.78b財務の健全性に関する最新情報分析記事 • Apr 14Here's Why Harmony Electronics (GTSM:8182) Can Manage Its Debt ResponsiblyHoward Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...分析記事 • Nov 18Here's Why Harmony Electronics (GTSM:8182) Can Manage Its Debt ResponsiblyThe external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...すべての更新を表示Recent updatesValuation Update With 7 Day Price Move • Apr 27Investor sentiment deteriorates as stock falls 20%After last week's 20% share price decline to NT$34.40, the stock trades at a trailing P/E ratio of 78.8x. Average trailing P/E is 27x in the Electronic industry in Taiwan. Total returns to shareholders of 28% over the past three years.New Risk • Apr 23New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 9.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 25% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (9.1% average weekly change). Profit margins are more than 30% lower than last year (1.6% net profit margin).Valuation Update With 7 Day Price Move • Apr 13Investor sentiment improves as stock rises 17%After last week's 17% share price gain to NT$32.65, the stock trades at a trailing P/E ratio of 74.8x. Average trailing P/E is 27x in the Electronic industry in Taiwan. Total returns to shareholders of 17% over the past three years.Buy Or Sell Opportunity • Mar 27Now 23% overvalued after recent price riseOver the last 90 days, the stock has risen 15% to NT$29.85. The fair value is estimated to be NT$24.21, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 3.1% over the last 3 years. Earnings per share has declined by 10%.Reported Earnings • Mar 17Full year 2025 earnings released: EPS: NT$0.44 (vs NT$2.44 in FY 2024)Full year 2025 results: EPS: NT$0.44 (down from NT$2.44 in FY 2024). Revenue: NT$2.87b (down 2.1% from FY 2024). Net income: NT$46.7m (down 82% from FY 2024). Profit margin: 1.6% (down from 8.9% in FY 2024). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 10% per year whereas the company’s share price has fallen by 6% per year.お知らせ • Mar 13Harmony Electronics Co. Ltd, Annual General Meeting, Jun 17, 2026Harmony Electronics Co. Ltd, Annual General Meeting, Jun 17, 2026. Location: no,39, hua tung rd., daliao district, kaohsiung city TaiwanValuation Update With 7 Day Price Move • Jan 19Investor sentiment improves as stock rises 15%After last week's 15% share price gain to NT$29.35, the stock trades at a trailing P/E ratio of 39.7x. Average trailing P/E is 24x in the Electronic industry in Taiwan. Total returns to shareholders of 7.4% over the past three years.Reported Earnings • Nov 07Third quarter 2025 earnings released: EPS: NT$0.34 (vs NT$0.39 in 3Q 2024)Third quarter 2025 results: EPS: NT$0.34 (down from NT$0.39 in 3Q 2024). Revenue: NT$734.6m (down 6.7% from 3Q 2024). Net income: NT$36.2m (down 14% from 3Q 2024). Profit margin: 4.9% (down from 5.4% in 3Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings.Reported Earnings • Aug 17Second quarter 2025 earnings released: NT$0.82 loss per share (vs NT$0.57 profit in 2Q 2024)Second quarter 2025 results: NT$0.82 loss per share (down from NT$0.57 profit in 2Q 2024). Revenue: NT$690.6m (down 4.1% from 2Q 2024). Net loss: NT$87.3m (down 244% from profit in 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings.Upcoming Dividend • Jul 11Upcoming dividend of NT$2.00 per shareEligible shareholders must have bought the stock before 16 July 2025. Payment date: 15 August 2025. Payout ratio is on the higher end at 92%, however this is supported by cash flows. Trailing yield: 7.0%. Within top quartile of Taiwanese dividend payers (5.4%). Higher than average of industry peers (3.1%).Board Change • Jul 01High number of new directorsThere are 5 new directors who have joined the board in the last 3 years. Independent Director Wen Chi Chang was the last director to join the board, commencing their role in 2025. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model.Declared Dividend • Jun 27Dividend increased to NT$2.00Dividend of NT$2.00 is 67% higher than last year. Ex-date: 16th July 2025 Payment date: 15th August 2025 Dividend yield will be 7.3%, which is higher than the industry average of 4.0%. Sustainability & Growth Dividend is not adequately covered by earnings (92% earnings payout ratio). However, it is well covered by cash flows (47% cash payout ratio). The dividend has increased by an average of 9.6% 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 2.0% to bring the payout ratio under control, which is less than the 9.1% EPS growth achieved over the last 5 years.New Risk • Jun 20New minor risk - Market cap sizeThe company's market capitalization is less than US$100m. Market cap: NT$2.89b (US$97.7m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 6.3% per year over the past 5 years. Minor Risks Dividend is not well covered by earnings (92% payout ratio). Market cap is less than US$100m (NT$2.89b market cap, or US$97.7m).Reported Earnings • May 09First quarter 2025 earnings released: EPS: NT$0.52 (vs NT$0.79 in 1Q 2024)First quarter 2025 results: EPS: NT$0.52 (down from NT$0.79 in 1Q 2024). Revenue: NT$691.3m (flat on 1Q 2024). Net income: NT$55.7m (down 34% from 1Q 2024). Profit margin: 8.1% (down from 12% in 1Q 2024). Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings.お知らせ • Apr 30Harmony Electronics Co. Ltd to Report Q1, 2025 Results on May 07, 2025Harmony Electronics Co. Ltd announced that they will report Q1, 2025 results on May 07, 2025Valuation Update With 7 Day Price Move • Apr 08Investor sentiment deteriorates as stock falls 18%After last week's 18% share price decline to NT$27.15, the stock trades at a trailing P/E ratio of 11.1x. Average trailing P/E is 17x in the Electronic industry in Taiwan. Total loss to shareholders of 31% over the past three years.New Risk • Apr 07New minor risk - Market cap sizeThe company's market capitalization is less than US$100m. Market cap: NT$3.21b (US$97.0m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 3.2% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (NT$3.21b market cap, or US$97.0m).Reported Earnings • Mar 19Full year 2024 earnings released: EPS: NT$2.44 (vs NT$1.16 in FY 2023)Full year 2024 results: EPS: NT$2.44 (up from NT$1.16 in FY 2023). Revenue: NT$2.93b (up 8.3% from FY 2023). Net income: NT$261.5m (up 110% from FY 2023). Profit margin: 8.9% (up from 4.6% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 42% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings.お知らせ • Mar 10Harmony Electronics Co. Ltd, Annual General Meeting, Jun 17, 2025Harmony Electronics Co. Ltd, Annual General Meeting, Jun 17, 2025. Location: no,39, hua tung rd., daliao district, kaohsiung city TaiwanReported Earnings • Nov 18Third quarter 2024 earnings released: EPS: NT$0.39 (vs NT$0.41 in 3Q 2023)Third quarter 2024 results: EPS: NT$0.39 (down from NT$0.41 in 3Q 2023). Revenue: NT$787.3m (up 6.9% from 3Q 2023). Net income: NT$42.2m (down 3.2% from 3Q 2023). Profit margin: 5.4% (down from 5.9% in 3Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 46% per year but the company’s share price has only fallen by 18% per year, which means it has not declined as severely as earnings.お知らせ • Oct 26Harmony Electronics Co. Ltd to Report Q3, 2024 Results on Nov 06, 2024Harmony Electronics Co. Ltd announced that they will report Q3, 2024 results on Nov 06, 2024Reported Earnings • Aug 14Second quarter 2024 earnings released: EPS: NT$0.57 (vs NT$0.43 in 2Q 2023)Second quarter 2024 results: EPS: NT$0.57 (up from NT$0.43 in 2Q 2023). Revenue: NT$720.4m (up 7.5% from 2Q 2023). Net income: NT$60.6m (up 31% from 2Q 2023). Profit margin: 8.4% (up from 6.9% in 2Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 43% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings.お知らせ • Jul 30Harmony Electronics Co. Ltd to Report Q2, 2024 Results on Aug 06, 2024Harmony Electronics Co. Ltd announced that they will report Q2, 2024 results on Aug 06, 2024Upcoming Dividend • Jul 10Upcoming dividend of NT$1.20 per shareEligible shareholders must have bought the stock before 17 July 2024. Payment date: 16 August 2024. Payout ratio is a comfortable 59% and this is well supported by cash flows. Trailing yield: 3.3%. Lower than top quartile of Taiwanese dividend payers (4.2%). Higher than average of industry peers (2.5%).Declared Dividend • Jun 17Dividend increased to NT$1.20Dividend of NT$1.20 is 20% higher than last year. Ex-date: 17th July 2024 Payment date: 16th August 2024 Dividend yield will be 3.2%, which is lower than the industry average of 4.0%. Sustainability & Growth Dividend is covered by both earnings (59% earnings payout ratio) and cash flows (18% cash payout ratio). The dividend has increased by an average of 8.1% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 3.2% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover.New Risk • Jun 05New minor risk - Earnings qualityThe company has large one-off items impacting its financial results. One-off items were 65% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by earnings (103% payout ratio). Large one-off items impacting financial results.Reported Earnings • May 19First quarter 2024 earnings released: EPS: NT$0.78 (vs NT$0.089 loss in 1Q 2023)First quarter 2024 results: EPS: NT$0.78 (up from NT$0.089 loss in 1Q 2023). Revenue: NT$685.7m (up 25% from 1Q 2023). Net income: NT$84.0m (up NT$93.5m from 1Q 2023). Profit margin: 12% (up from net loss in 1Q 2023). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 38% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings.Reported Earnings • Mar 21Full year 2023 earnings released: EPS: NT$1.16 (vs NT$2.50 in FY 2022)Full year 2023 results: EPS: NT$1.16 (down from NT$2.50 in FY 2022). Revenue: NT$2.71b (down 6.0% from FY 2022). Net income: NT$124.5m (down 53% from FY 2022). Profit margin: 4.6% (down from 9.3% in FY 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings.お知らせ • Mar 09Harmony Electronics Co. Ltd, Annual General Meeting, Jun 14, 2024Harmony Electronics Co. Ltd, Annual General Meeting, Jun 14, 2024. Location: No. 39, Hwa Dong Road, Ta Fa Ind. Dist, Kaohsiung, Taiwan, R.O.C(Staff's Dining Room) Kaohsiung Taiwan Agenda: To consider 2023 Annual Business Reports; to consider audit committee's review report on the 2023 financial statements; to consider report on the 2023 remuneration of the employee and directors; to consider report on 2023 earnings distribution; and to transact such other business matters.Reported Earnings • Nov 09Third quarter 2023 earnings released: EPS: NT$0.41 (vs NT$0.90 in 3Q 2022)Third quarter 2023 results: EPS: NT$0.41 (down from NT$0.90 in 3Q 2022). Revenue: NT$736.5m (down 1.8% from 3Q 2022). Net income: NT$43.6m (down 55% from 3Q 2022). Profit margin: 5.9% (down from 13% in 3Q 2022). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings.New Risk • Aug 14New minor risk - Market cap sizeThe company's market capitalization is less than US$100m. Market cap: NT$3.18b (US$99.5m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by earnings (128% payout ratio). Profit margins are more than 30% lower than last year (3.2% net profit margin). Market cap is less than US$100m (NT$3.18b market cap, or US$99.5m).Reported Earnings • Aug 10Second quarter 2023 earnings released: EPS: NT$0.43 (vs NT$0.99 in 2Q 2022)Second quarter 2023 results: EPS: NT$0.43 (down from NT$0.99 in 2Q 2022). Revenue: NT$670.0m (down 9.2% from 2Q 2022). Net income: NT$46.1m (down 56% from 2Q 2022). Profit margin: 6.9% (down from 14% in 2Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has increased by 1% per year.Upcoming Dividend • Jul 12Upcoming dividend of NT$1.00 per share at 3.2% yieldEligible shareholders must have bought the stock before 19 July 2023. Payment date: 18 August 2023. Payout ratio is a comfortable 75% but the company is paying out more than the cash it is generating. Trailing yield: 3.2%. Lower than top quartile of Taiwanese dividend payers (5.5%). Lower than average of industry peers (4.2%).Board Change • Jul 01Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 5 highly experienced directors. Representative Director Iizuka Minoru was the last director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment.Reported Earnings • Mar 15Full year 2022 earnings released: EPS: NT$2.50 (vs NT$4.76 in FY 2021)Full year 2022 results: EPS: NT$2.50 (down from NT$4.76 in FY 2021). Revenue: NT$2.88b (down 20% from FY 2021). Net income: NT$267.3m (down 48% from FY 2021). Profit margin: 9.3% (down from 14% in FY 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth.Reported Earnings • Nov 10Third quarter 2022 earnings released: EPS: NT$0.90 (vs NT$1.43 in 3Q 2021)Third quarter 2022 results: EPS: NT$0.90 (down from NT$1.43 in 3Q 2021). Revenue: NT$750.0m (down 19% from 3Q 2021). Net income: NT$96.6m (down 37% from 3Q 2021). Profit margin: 13% (down from 17% in 3Q 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth.Reported Earnings • Aug 10Second quarter 2022 earnings released: EPS: NT$0.99 (vs NT$1.23 in 2Q 2021)Second quarter 2022 results: EPS: NT$0.99 (down from NT$1.23 in 2Q 2021). Revenue: NT$738.2m (down 20% from 2Q 2021). Net income: NT$105.6m (down 20% from 2Q 2021). Profit margin: 14% (in line with 2Q 2021). Over the last 3 years on average, earnings per share has increased by 51% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth.Upcoming Dividend • Jul 12Upcoming dividend of NT$3.00 per shareEligible shareholders must have bought the stock before 19 July 2022. Payment date: 19 August 2022. Payout ratio is a comfortable 59% but the company is not cash flow positive. Trailing yield: 7.9%. Within top quartile of Taiwanese dividend payers (6.7%). Higher than average of industry peers (4.9%).お知らせ • Jun 29Harmony Electronics Co. Ltd Announces Dividend Distribution, Payable on August 19, 2022Harmony Electronics Co. Ltd. announced dividend distribution of TWD 321,123,645 cash dividend (TWD 3 per share). Ex-rights (Ex-dividend) date is July 19, 2022. Last date before book closure is July 20, 2022. Book closure starting date is July 21, 2022. Book closure ending date is July 25, 2022. Ex-rights (Ex-dividend) record date is July 25, 2022. Payment date of cash dividend distribution is August 19, 2022.Buying Opportunity • Jun 20Now 22% undervalued after recent price dropOver the last 90 days, the stock is down 23%. The fair value is estimated to be NT$50.51, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 48%.Reported Earnings • May 16First quarter 2022 earnings released: EPS: NT$1.07 (vs NT$0.76 in 1Q 2021)First quarter 2022 results: EPS: NT$1.07 (up from NT$0.76 in 1Q 2021). Revenue: NT$777.6m (down 4.1% from 1Q 2021). Net income: NT$114.4m (up 41% from 1Q 2021). Profit margin: 15% (up from 10.0% in 1Q 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has only increased by 33% per year, which means it is significantly lagging earnings growth.Board Change • Apr 27Less than half of directors are independentFollowing the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Chin I Hsu was the last independent director to join the board, commencing their role in 2008. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.Reported Earnings • Mar 14Full year 2021 earnings: Revenues and EPS in line with analyst expectationsFull year 2021 results: EPS: NT$4.76 (up from NT$2.08 in FY 2020). Revenue: NT$3.60b (up 19% from FY 2020). Net income: NT$509.6m (up 129% from FY 2020). Profit margin: 14% (up from 7.4% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 42% per year whereas the company’s share price has increased by 40% per year.お知らせ • Mar 10Harmony Electronics Co. Ltd Announces Cash Dividend for the Year Ended December 31, 2021Harmony Electronics Co. Ltd. announced cash dividend of TWD 3 per share for the year ended December 31, 2021.Valuation Update With 7 Day Price Move • Nov 17Investor sentiment improved over the past weekAfter last week's 23% share price gain to NT$60.90, the stock trades at a trailing P/E ratio of 15.3x. Average trailing P/E is 17x in the Electronic industry in Taiwan. Total returns to shareholders of 324% over the past three years.Reported Earnings • Nov 11Third quarter 2021 earnings released: EPS NT$1.43 (vs NT$0.61 in 3Q 2020)The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$930.4m (up 12% from 3Q 2020). Net income: NT$153.3m (up 135% from 3Q 2020). Profit margin: 17% (up from 7.9% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has increased by 47% per year, which means it is tracking significantly ahead of earnings growth.Reported Earnings • Aug 11Second quarter 2021 earnings released: EPS NT$1.23 (vs NT$0.52 in 2Q 2020)The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: NT$923.5m (up 28% from 2Q 2020). Net income: NT$132.1m (up 139% from 2Q 2020). Profit margin: 14% (up from 7.7% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has increased by 37% per year, which means it is tracking significantly ahead of earnings growth.Upcoming Dividend • Jul 02Upcoming dividend of NT$1.50 per shareEligible shareholders must have bought the stock before 08 July 2021. Payment date: 05 August 2021. Trailing yield: 2.9%. Lower than top quartile of Taiwanese dividend payers (5.0%). In line with average of industry peers (3.0%).Valuation Update With 7 Day Price Move • Jun 19Investor sentiment improved over the past weekAfter last week's 17% share price gain to NT$44.70, the stock trades at a trailing P/E ratio of 18.3x. Average trailing P/E is 17x in the Electronic industry in Taiwan. Total returns to shareholders of 165% over the past three years.Valuation Update With 7 Day Price Move • May 26Investor sentiment improved over the past weekAfter last week's 15% share price gain to NT$35.50, the stock trades at a trailing P/E ratio of 14.5x. Average trailing P/E is 16x in the Electronic industry in Taiwan. Total returns to shareholders of 113% over the past three years.Reported Earnings • May 14First quarter 2021 earnings released: EPS NT$0.76 (vs NT$0.41 in 1Q 2020)The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$810.6m (up 30% from 1Q 2020). Net income: NT$81.3m (up 88% from 1Q 2020). Profit margin: 10.0% (up from 7.0% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 19% per year whereas the company’s share price has increased by 20% per year.Valuation Update With 7 Day Price Move • Apr 30Investor sentiment improved over the past weekAfter last week's 15% share price gain to NT$40.55, the stock trades at a trailing P/E ratio of 19.5x. Average trailing P/E is 20x in the Electronic industry in Taiwan. Total returns to shareholders of 156% over the past three years.分析記事 • Apr 14Here's Why Harmony Electronics (GTSM:8182) Can Manage Its Debt ResponsiblyHoward Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...Valuation Update With 7 Day Price Move • Apr 01Investor sentiment improved over the past weekAfter last week's 19% share price gain to NT$37.25, the stock trades at a trailing P/E ratio of 17.9x. Average trailing P/E is 19x in the Electronic industry in Taiwan. Total returns to shareholders of 126% over the past three years.Reported Earnings • Mar 25Full year 2020 earnings released: EPS NT$2.08 (vs NT$1.30 in FY 2019)The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$3.02b (up 15% from FY 2019). Net income: NT$222.4m (up 60% from FY 2019). Profit margin: 7.4% (up from 5.3% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 14% per year whereas the company’s share price has increased by 17% per year.分析記事 • Mar 25Returns On Capital Are Showing Encouraging Signs At Harmony Electronics (GTSM:8182)If we want to find a stock that could multiply over the long term, what are the underlying trends we should look for...お知らせ • Mar 17+ 1 more updateHarmony Electronics Co. Ltd Announces Cash Dividend for the Year Ended December 31, 2020The board of directors of Harmony Electronics Co. Ltd. announced appropriations of earnings in cash dividends to shareholders of TWD 1.5 per share for the year ended December 31, 2020. Total amount of cash dividends to shareholders of TWD 160,561,823.Is New 90 Day High Low • Mar 16New 90-day high: NT$31.10The company is up 2.0% from a price of NT$30.50 on 16 December 2020. Underperformed the Taiwanese market, which is up 15% over the last 90 days. Lagged the Electronic industry, which is up 19% over the same period.分析記事 • Feb 24Has Harmony Electronics Co. Ltd's (GTSM:8182) Impressive Stock Performance Got Anything to Do With Its Fundamentals?Harmony Electronics (GTSM:8182) has had a great run on the share market with its stock up by a significant 8.5% over...分析記事 • Feb 05Does Harmony Electronics Co. Ltd (GTSM:8182) Have A Place In Your Dividend Stock Portfolio?Is Harmony Electronics Co. Ltd ( GTSM:8182 ) a good dividend stock? How can we tell? Dividend paying companies with...分析記事 • Jan 14Shareholders Of Harmony Electronics (GTSM:8182) Must Be Happy With Their 198% Total ReturnWhen you buy a stock there is always a possibility that it could drop 100%. But on a lighter note, a good company can...分析記事 • Dec 15Returns On Capital - An Important Metric For Harmony Electronics (GTSM:8182)If you're not sure where to start when looking for the next multi-bagger, there are a few key trends you should keep an...Is New 90 Day High Low • Dec 04New 90-day high: NT$29.25The company is up 1.0% from its price of NT$29.00 on 04 September 2020. The Taiwanese market is up 10.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 8.0% over the same period.分析記事 • Nov 18Here's Why Harmony Electronics (GTSM:8182) Can Manage Its Debt ResponsiblyThe external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...Reported Earnings • Nov 10Third quarter 2020 earnings released: EPS NT$0.61The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: NT$828.5m (up 17% from 3Q 2019). Net income: NT$65.1m (up 52% from 3Q 2019). Profit margin: 7.9% (up from 6.0% in 3Q 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 7% per year whereas the company’s share price has increased by 10% per year.Is New 90 Day High Low • Sep 24New 90-day low: NT$26.50The company is down 7.0% from its price of NT$28.55 on 24 June 2020. The Taiwanese market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is flat over the same period.財務状況分析短期負債: 8182の 短期資産 ( NT$3.1B ) が 短期負債 ( NT$1.3B ) を超えています。長期負債: 8182の短期資産 ( NT$3.1B ) が 長期負債 ( NT$866.5M ) を上回っています。デット・ツー・エクイティの歴史と分析負債レベル: 8182総負債よりも多くの現金を保有しています。負債の削減: 8182の負債対資本比率は、過去 5 年間で26.5%から34.1%に増加しました。債務返済能力: 8182の 営業キャッシュフロー はマイナスであるため、負債は十分にカバーされていません。インタレストカバレッジ: 8182支払う利息よりも稼ぐ利息の方が多いので、利息支払い の補償は問題になりません。貸借対照表健全な企業の発掘7D1Y7D1Y7D1YTech 業界の健全な企業。View Dividend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2026/05/09 07:15終値2026/05/08 00:00収益2025/12/31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Harmony Electronics Co. Ltd 0 これらのアナリストのうち、弊社レポートのインプットとして使用した売上高または利益の予想を提出したのは、 。アナリストの投稿は一日中更新されます。0
分析記事 • Apr 14Here's Why Harmony Electronics (GTSM:8182) Can Manage Its Debt ResponsiblyHoward Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...
分析記事 • Nov 18Here's Why Harmony Electronics (GTSM:8182) Can Manage Its Debt ResponsiblyThe external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...
Valuation Update With 7 Day Price Move • Apr 27Investor sentiment deteriorates as stock falls 20%After last week's 20% share price decline to NT$34.40, the stock trades at a trailing P/E ratio of 78.8x. Average trailing P/E is 27x in the Electronic industry in Taiwan. Total returns to shareholders of 28% over the past three years.
New Risk • Apr 23New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 9.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 25% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (9.1% average weekly change). Profit margins are more than 30% lower than last year (1.6% net profit margin).
Valuation Update With 7 Day Price Move • Apr 13Investor sentiment improves as stock rises 17%After last week's 17% share price gain to NT$32.65, the stock trades at a trailing P/E ratio of 74.8x. Average trailing P/E is 27x in the Electronic industry in Taiwan. Total returns to shareholders of 17% over the past three years.
Buy Or Sell Opportunity • Mar 27Now 23% overvalued after recent price riseOver the last 90 days, the stock has risen 15% to NT$29.85. The fair value is estimated to be NT$24.21, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 3.1% over the last 3 years. Earnings per share has declined by 10%.
Reported Earnings • Mar 17Full year 2025 earnings released: EPS: NT$0.44 (vs NT$2.44 in FY 2024)Full year 2025 results: EPS: NT$0.44 (down from NT$2.44 in FY 2024). Revenue: NT$2.87b (down 2.1% from FY 2024). Net income: NT$46.7m (down 82% from FY 2024). Profit margin: 1.6% (down from 8.9% in FY 2024). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 10% per year whereas the company’s share price has fallen by 6% per year.
お知らせ • Mar 13Harmony Electronics Co. Ltd, Annual General Meeting, Jun 17, 2026Harmony Electronics Co. Ltd, Annual General Meeting, Jun 17, 2026. Location: no,39, hua tung rd., daliao district, kaohsiung city Taiwan
Valuation Update With 7 Day Price Move • Jan 19Investor sentiment improves as stock rises 15%After last week's 15% share price gain to NT$29.35, the stock trades at a trailing P/E ratio of 39.7x. Average trailing P/E is 24x in the Electronic industry in Taiwan. Total returns to shareholders of 7.4% over the past three years.
Reported Earnings • Nov 07Third quarter 2025 earnings released: EPS: NT$0.34 (vs NT$0.39 in 3Q 2024)Third quarter 2025 results: EPS: NT$0.34 (down from NT$0.39 in 3Q 2024). Revenue: NT$734.6m (down 6.7% from 3Q 2024). Net income: NT$36.2m (down 14% from 3Q 2024). Profit margin: 4.9% (down from 5.4% in 3Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings.
Reported Earnings • Aug 17Second quarter 2025 earnings released: NT$0.82 loss per share (vs NT$0.57 profit in 2Q 2024)Second quarter 2025 results: NT$0.82 loss per share (down from NT$0.57 profit in 2Q 2024). Revenue: NT$690.6m (down 4.1% from 2Q 2024). Net loss: NT$87.3m (down 244% from profit in 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings.
Upcoming Dividend • Jul 11Upcoming dividend of NT$2.00 per shareEligible shareholders must have bought the stock before 16 July 2025. Payment date: 15 August 2025. Payout ratio is on the higher end at 92%, however this is supported by cash flows. Trailing yield: 7.0%. Within top quartile of Taiwanese dividend payers (5.4%). Higher than average of industry peers (3.1%).
Board Change • Jul 01High number of new directorsThere are 5 new directors who have joined the board in the last 3 years. Independent Director Wen Chi Chang was the last director to join the board, commencing their role in 2025. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model.
Declared Dividend • Jun 27Dividend increased to NT$2.00Dividend of NT$2.00 is 67% higher than last year. Ex-date: 16th July 2025 Payment date: 15th August 2025 Dividend yield will be 7.3%, which is higher than the industry average of 4.0%. Sustainability & Growth Dividend is not adequately covered by earnings (92% earnings payout ratio). However, it is well covered by cash flows (47% cash payout ratio). The dividend has increased by an average of 9.6% 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 2.0% to bring the payout ratio under control, which is less than the 9.1% EPS growth achieved over the last 5 years.
New Risk • Jun 20New minor risk - Market cap sizeThe company's market capitalization is less than US$100m. Market cap: NT$2.89b (US$97.7m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 6.3% per year over the past 5 years. Minor Risks Dividend is not well covered by earnings (92% payout ratio). Market cap is less than US$100m (NT$2.89b market cap, or US$97.7m).
Reported Earnings • May 09First quarter 2025 earnings released: EPS: NT$0.52 (vs NT$0.79 in 1Q 2024)First quarter 2025 results: EPS: NT$0.52 (down from NT$0.79 in 1Q 2024). Revenue: NT$691.3m (flat on 1Q 2024). Net income: NT$55.7m (down 34% from 1Q 2024). Profit margin: 8.1% (down from 12% in 1Q 2024). Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings.
お知らせ • Apr 30Harmony Electronics Co. Ltd to Report Q1, 2025 Results on May 07, 2025Harmony Electronics Co. Ltd announced that they will report Q1, 2025 results on May 07, 2025
Valuation Update With 7 Day Price Move • Apr 08Investor sentiment deteriorates as stock falls 18%After last week's 18% share price decline to NT$27.15, the stock trades at a trailing P/E ratio of 11.1x. Average trailing P/E is 17x in the Electronic industry in Taiwan. Total loss to shareholders of 31% over the past three years.
New Risk • Apr 07New minor risk - Market cap sizeThe company's market capitalization is less than US$100m. Market cap: NT$3.21b (US$97.0m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 3.2% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (NT$3.21b market cap, or US$97.0m).
Reported Earnings • Mar 19Full year 2024 earnings released: EPS: NT$2.44 (vs NT$1.16 in FY 2023)Full year 2024 results: EPS: NT$2.44 (up from NT$1.16 in FY 2023). Revenue: NT$2.93b (up 8.3% from FY 2023). Net income: NT$261.5m (up 110% from FY 2023). Profit margin: 8.9% (up from 4.6% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 42% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings.
お知らせ • Mar 10Harmony Electronics Co. Ltd, Annual General Meeting, Jun 17, 2025Harmony Electronics Co. Ltd, Annual General Meeting, Jun 17, 2025. Location: no,39, hua tung rd., daliao district, kaohsiung city Taiwan
Reported Earnings • Nov 18Third quarter 2024 earnings released: EPS: NT$0.39 (vs NT$0.41 in 3Q 2023)Third quarter 2024 results: EPS: NT$0.39 (down from NT$0.41 in 3Q 2023). Revenue: NT$787.3m (up 6.9% from 3Q 2023). Net income: NT$42.2m (down 3.2% from 3Q 2023). Profit margin: 5.4% (down from 5.9% in 3Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 46% per year but the company’s share price has only fallen by 18% per year, which means it has not declined as severely as earnings.
お知らせ • Oct 26Harmony Electronics Co. Ltd to Report Q3, 2024 Results on Nov 06, 2024Harmony Electronics Co. Ltd announced that they will report Q3, 2024 results on Nov 06, 2024
Reported Earnings • Aug 14Second quarter 2024 earnings released: EPS: NT$0.57 (vs NT$0.43 in 2Q 2023)Second quarter 2024 results: EPS: NT$0.57 (up from NT$0.43 in 2Q 2023). Revenue: NT$720.4m (up 7.5% from 2Q 2023). Net income: NT$60.6m (up 31% from 2Q 2023). Profit margin: 8.4% (up from 6.9% in 2Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 43% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings.
お知らせ • Jul 30Harmony Electronics Co. Ltd to Report Q2, 2024 Results on Aug 06, 2024Harmony Electronics Co. Ltd announced that they will report Q2, 2024 results on Aug 06, 2024
Upcoming Dividend • Jul 10Upcoming dividend of NT$1.20 per shareEligible shareholders must have bought the stock before 17 July 2024. Payment date: 16 August 2024. Payout ratio is a comfortable 59% and this is well supported by cash flows. Trailing yield: 3.3%. Lower than top quartile of Taiwanese dividend payers (4.2%). Higher than average of industry peers (2.5%).
Declared Dividend • Jun 17Dividend increased to NT$1.20Dividend of NT$1.20 is 20% higher than last year. Ex-date: 17th July 2024 Payment date: 16th August 2024 Dividend yield will be 3.2%, which is lower than the industry average of 4.0%. Sustainability & Growth Dividend is covered by both earnings (59% earnings payout ratio) and cash flows (18% cash payout ratio). The dividend has increased by an average of 8.1% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 3.2% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover.
New Risk • Jun 05New minor risk - Earnings qualityThe company has large one-off items impacting its financial results. One-off items were 65% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by earnings (103% payout ratio). Large one-off items impacting financial results.
Reported Earnings • May 19First quarter 2024 earnings released: EPS: NT$0.78 (vs NT$0.089 loss in 1Q 2023)First quarter 2024 results: EPS: NT$0.78 (up from NT$0.089 loss in 1Q 2023). Revenue: NT$685.7m (up 25% from 1Q 2023). Net income: NT$84.0m (up NT$93.5m from 1Q 2023). Profit margin: 12% (up from net loss in 1Q 2023). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 38% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings.
Reported Earnings • Mar 21Full year 2023 earnings released: EPS: NT$1.16 (vs NT$2.50 in FY 2022)Full year 2023 results: EPS: NT$1.16 (down from NT$2.50 in FY 2022). Revenue: NT$2.71b (down 6.0% from FY 2022). Net income: NT$124.5m (down 53% from FY 2022). Profit margin: 4.6% (down from 9.3% in FY 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings.
お知らせ • Mar 09Harmony Electronics Co. Ltd, Annual General Meeting, Jun 14, 2024Harmony Electronics Co. Ltd, Annual General Meeting, Jun 14, 2024. Location: No. 39, Hwa Dong Road, Ta Fa Ind. Dist, Kaohsiung, Taiwan, R.O.C(Staff's Dining Room) Kaohsiung Taiwan Agenda: To consider 2023 Annual Business Reports; to consider audit committee's review report on the 2023 financial statements; to consider report on the 2023 remuneration of the employee and directors; to consider report on 2023 earnings distribution; and to transact such other business matters.
Reported Earnings • Nov 09Third quarter 2023 earnings released: EPS: NT$0.41 (vs NT$0.90 in 3Q 2022)Third quarter 2023 results: EPS: NT$0.41 (down from NT$0.90 in 3Q 2022). Revenue: NT$736.5m (down 1.8% from 3Q 2022). Net income: NT$43.6m (down 55% from 3Q 2022). Profit margin: 5.9% (down from 13% in 3Q 2022). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings.
New Risk • Aug 14New minor risk - Market cap sizeThe company's market capitalization is less than US$100m. Market cap: NT$3.18b (US$99.5m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by earnings (128% payout ratio). Profit margins are more than 30% lower than last year (3.2% net profit margin). Market cap is less than US$100m (NT$3.18b market cap, or US$99.5m).
Reported Earnings • Aug 10Second quarter 2023 earnings released: EPS: NT$0.43 (vs NT$0.99 in 2Q 2022)Second quarter 2023 results: EPS: NT$0.43 (down from NT$0.99 in 2Q 2022). Revenue: NT$670.0m (down 9.2% from 2Q 2022). Net income: NT$46.1m (down 56% from 2Q 2022). Profit margin: 6.9% (down from 14% in 2Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has increased by 1% per year.
Upcoming Dividend • Jul 12Upcoming dividend of NT$1.00 per share at 3.2% yieldEligible shareholders must have bought the stock before 19 July 2023. Payment date: 18 August 2023. Payout ratio is a comfortable 75% but the company is paying out more than the cash it is generating. Trailing yield: 3.2%. Lower than top quartile of Taiwanese dividend payers (5.5%). Lower than average of industry peers (4.2%).
Board Change • Jul 01Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 5 highly experienced directors. Representative Director Iizuka Minoru was the last director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment.
Reported Earnings • Mar 15Full year 2022 earnings released: EPS: NT$2.50 (vs NT$4.76 in FY 2021)Full year 2022 results: EPS: NT$2.50 (down from NT$4.76 in FY 2021). Revenue: NT$2.88b (down 20% from FY 2021). Net income: NT$267.3m (down 48% from FY 2021). Profit margin: 9.3% (down from 14% in FY 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth.
Reported Earnings • Nov 10Third quarter 2022 earnings released: EPS: NT$0.90 (vs NT$1.43 in 3Q 2021)Third quarter 2022 results: EPS: NT$0.90 (down from NT$1.43 in 3Q 2021). Revenue: NT$750.0m (down 19% from 3Q 2021). Net income: NT$96.6m (down 37% from 3Q 2021). Profit margin: 13% (down from 17% in 3Q 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth.
Reported Earnings • Aug 10Second quarter 2022 earnings released: EPS: NT$0.99 (vs NT$1.23 in 2Q 2021)Second quarter 2022 results: EPS: NT$0.99 (down from NT$1.23 in 2Q 2021). Revenue: NT$738.2m (down 20% from 2Q 2021). Net income: NT$105.6m (down 20% from 2Q 2021). Profit margin: 14% (in line with 2Q 2021). Over the last 3 years on average, earnings per share has increased by 51% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth.
Upcoming Dividend • Jul 12Upcoming dividend of NT$3.00 per shareEligible shareholders must have bought the stock before 19 July 2022. Payment date: 19 August 2022. Payout ratio is a comfortable 59% but the company is not cash flow positive. Trailing yield: 7.9%. Within top quartile of Taiwanese dividend payers (6.7%). Higher than average of industry peers (4.9%).
お知らせ • Jun 29Harmony Electronics Co. Ltd Announces Dividend Distribution, Payable on August 19, 2022Harmony Electronics Co. Ltd. announced dividend distribution of TWD 321,123,645 cash dividend (TWD 3 per share). Ex-rights (Ex-dividend) date is July 19, 2022. Last date before book closure is July 20, 2022. Book closure starting date is July 21, 2022. Book closure ending date is July 25, 2022. Ex-rights (Ex-dividend) record date is July 25, 2022. Payment date of cash dividend distribution is August 19, 2022.
Buying Opportunity • Jun 20Now 22% undervalued after recent price dropOver the last 90 days, the stock is down 23%. The fair value is estimated to be NT$50.51, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 48%.
Reported Earnings • May 16First quarter 2022 earnings released: EPS: NT$1.07 (vs NT$0.76 in 1Q 2021)First quarter 2022 results: EPS: NT$1.07 (up from NT$0.76 in 1Q 2021). Revenue: NT$777.6m (down 4.1% from 1Q 2021). Net income: NT$114.4m (up 41% from 1Q 2021). Profit margin: 15% (up from 10.0% in 1Q 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has only increased by 33% per year, which means it is significantly lagging earnings growth.
Board Change • Apr 27Less than half of directors are independentFollowing the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Chin I Hsu was the last independent director to join the board, commencing their role in 2008. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
Reported Earnings • Mar 14Full year 2021 earnings: Revenues and EPS in line with analyst expectationsFull year 2021 results: EPS: NT$4.76 (up from NT$2.08 in FY 2020). Revenue: NT$3.60b (up 19% from FY 2020). Net income: NT$509.6m (up 129% from FY 2020). Profit margin: 14% (up from 7.4% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 42% per year whereas the company’s share price has increased by 40% per year.
お知らせ • Mar 10Harmony Electronics Co. Ltd Announces Cash Dividend for the Year Ended December 31, 2021Harmony Electronics Co. Ltd. announced cash dividend of TWD 3 per share for the year ended December 31, 2021.
Valuation Update With 7 Day Price Move • Nov 17Investor sentiment improved over the past weekAfter last week's 23% share price gain to NT$60.90, the stock trades at a trailing P/E ratio of 15.3x. Average trailing P/E is 17x in the Electronic industry in Taiwan. Total returns to shareholders of 324% over the past three years.
Reported Earnings • Nov 11Third quarter 2021 earnings released: EPS NT$1.43 (vs NT$0.61 in 3Q 2020)The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$930.4m (up 12% from 3Q 2020). Net income: NT$153.3m (up 135% from 3Q 2020). Profit margin: 17% (up from 7.9% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has increased by 47% per year, which means it is tracking significantly ahead of earnings growth.
Reported Earnings • Aug 11Second quarter 2021 earnings released: EPS NT$1.23 (vs NT$0.52 in 2Q 2020)The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: NT$923.5m (up 28% from 2Q 2020). Net income: NT$132.1m (up 139% from 2Q 2020). Profit margin: 14% (up from 7.7% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has increased by 37% per year, which means it is tracking significantly ahead of earnings growth.
Upcoming Dividend • Jul 02Upcoming dividend of NT$1.50 per shareEligible shareholders must have bought the stock before 08 July 2021. Payment date: 05 August 2021. Trailing yield: 2.9%. Lower than top quartile of Taiwanese dividend payers (5.0%). In line with average of industry peers (3.0%).
Valuation Update With 7 Day Price Move • Jun 19Investor sentiment improved over the past weekAfter last week's 17% share price gain to NT$44.70, the stock trades at a trailing P/E ratio of 18.3x. Average trailing P/E is 17x in the Electronic industry in Taiwan. Total returns to shareholders of 165% over the past three years.
Valuation Update With 7 Day Price Move • May 26Investor sentiment improved over the past weekAfter last week's 15% share price gain to NT$35.50, the stock trades at a trailing P/E ratio of 14.5x. Average trailing P/E is 16x in the Electronic industry in Taiwan. Total returns to shareholders of 113% over the past three years.
Reported Earnings • May 14First quarter 2021 earnings released: EPS NT$0.76 (vs NT$0.41 in 1Q 2020)The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$810.6m (up 30% from 1Q 2020). Net income: NT$81.3m (up 88% from 1Q 2020). Profit margin: 10.0% (up from 7.0% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 19% per year whereas the company’s share price has increased by 20% per year.
Valuation Update With 7 Day Price Move • Apr 30Investor sentiment improved over the past weekAfter last week's 15% share price gain to NT$40.55, the stock trades at a trailing P/E ratio of 19.5x. Average trailing P/E is 20x in the Electronic industry in Taiwan. Total returns to shareholders of 156% over the past three years.
分析記事 • Apr 14Here's Why Harmony Electronics (GTSM:8182) Can Manage Its Debt ResponsiblyHoward Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...
Valuation Update With 7 Day Price Move • Apr 01Investor sentiment improved over the past weekAfter last week's 19% share price gain to NT$37.25, the stock trades at a trailing P/E ratio of 17.9x. Average trailing P/E is 19x in the Electronic industry in Taiwan. Total returns to shareholders of 126% over the past three years.
Reported Earnings • Mar 25Full year 2020 earnings released: EPS NT$2.08 (vs NT$1.30 in FY 2019)The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$3.02b (up 15% from FY 2019). Net income: NT$222.4m (up 60% from FY 2019). Profit margin: 7.4% (up from 5.3% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 14% per year whereas the company’s share price has increased by 17% per year.
分析記事 • Mar 25Returns On Capital Are Showing Encouraging Signs At Harmony Electronics (GTSM:8182)If we want to find a stock that could multiply over the long term, what are the underlying trends we should look for...
お知らせ • Mar 17+ 1 more updateHarmony Electronics Co. Ltd Announces Cash Dividend for the Year Ended December 31, 2020The board of directors of Harmony Electronics Co. Ltd. announced appropriations of earnings in cash dividends to shareholders of TWD 1.5 per share for the year ended December 31, 2020. Total amount of cash dividends to shareholders of TWD 160,561,823.
Is New 90 Day High Low • Mar 16New 90-day high: NT$31.10The company is up 2.0% from a price of NT$30.50 on 16 December 2020. Underperformed the Taiwanese market, which is up 15% over the last 90 days. Lagged the Electronic industry, which is up 19% over the same period.
分析記事 • Feb 24Has Harmony Electronics Co. Ltd's (GTSM:8182) Impressive Stock Performance Got Anything to Do With Its Fundamentals?Harmony Electronics (GTSM:8182) has had a great run on the share market with its stock up by a significant 8.5% over...
分析記事 • Feb 05Does Harmony Electronics Co. Ltd (GTSM:8182) Have A Place In Your Dividend Stock Portfolio?Is Harmony Electronics Co. Ltd ( GTSM:8182 ) a good dividend stock? How can we tell? Dividend paying companies with...
分析記事 • Jan 14Shareholders Of Harmony Electronics (GTSM:8182) Must Be Happy With Their 198% Total ReturnWhen you buy a stock there is always a possibility that it could drop 100%. But on a lighter note, a good company can...
分析記事 • Dec 15Returns On Capital - An Important Metric For Harmony Electronics (GTSM:8182)If you're not sure where to start when looking for the next multi-bagger, there are a few key trends you should keep an...
Is New 90 Day High Low • Dec 04New 90-day high: NT$29.25The company is up 1.0% from its price of NT$29.00 on 04 September 2020. The Taiwanese market is up 10.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 8.0% over the same period.
分析記事 • Nov 18Here's Why Harmony Electronics (GTSM:8182) Can Manage Its Debt ResponsiblyThe external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...
Reported Earnings • Nov 10Third quarter 2020 earnings released: EPS NT$0.61The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: NT$828.5m (up 17% from 3Q 2019). Net income: NT$65.1m (up 52% from 3Q 2019). Profit margin: 7.9% (up from 6.0% in 3Q 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 7% per year whereas the company’s share price has increased by 10% per year.
Is New 90 Day High Low • Sep 24New 90-day low: NT$26.50The company is down 7.0% from its price of NT$28.55 on 24 June 2020. The Taiwanese market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is flat over the same period.