View ValuationCo-Tech Development 将来の成長Future 基準チェック /56Co-Tech Developmentは、77.7%と43.9%でそれぞれ年率77.7%で利益と収益が成長すると予測される一方、EPSはgrowで77.7%年率。主要情報77.7%収益成長率77.69%EPS成長率Electronic 収益成長33.9%収益成長率43.9%将来の株主資本利益率n/aアナリストカバレッジLow最終更新日11 Jun 2026今後の成長に関する最新情報Major Estimate Revision • Sep 21Consensus revenue estimates fall by 11%The consensus outlook for revenues in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from NT$6.53b to NT$5.82b. EPS estimate fell from NT$2.56 to NT$2.03 per share. Net income forecast to grow 21% next year vs 5.2% growth forecast for Electronic industry in Taiwan. Consensus price target up from NT$50.00 to NT$52.50. Share price fell 6.6% to NT$62.40 over the past week.Major Estimate Revision • Jan 04Consensus revenue estimates increase by 12%The consensus outlook for revenues in 2022 has improved. 2022 revenue forecast increased from NT$6.57b to NT$7.38b. EPS estimate increased from NT$3.78 to NT$4.01 per share. Net income forecast to shrink 34% next year vs 3.5% growth forecast for Electronic industry in Taiwan . Consensus price target up from NT$40.00 to NT$50.00. Share price rose 14% to NT$57.00 over the past week.Major Estimate Revision • Aug 25Consensus revenue estimates fall by 16%The consensus outlook for revenues in 2022 has deteriorated. 2022 revenue forecast decreased from NT$7.82b to NT$6.57b. EPS estimate fell from NT$5.93 to NT$3.78 per share. Net income forecast to shrink 49% next year vs 4.6% growth forecast for Electronic industry in Taiwan . Consensus price target down from NT$61.00 to NT$40.00. Share price fell 2.6% to NT$42.80 over the past week.すべての更新を表示Recent updatesValuation Update With 7 Day Price Move • May 18Investor sentiment deteriorates as stock falls 16%After last week's 16% share price decline to NT$390, 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 641% over the past three years.New Risk • May 09New major risk - Earnings qualityThe company has a high level of non-cash earnings. Accrual ratio: 21% 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 (21% accrual ratio). Minor Risk Share price has been volatile over the past 3 months (12% average weekly change).Valuation Update With 7 Day Price Move • Apr 27Investor sentiment deteriorates as stock falls 17%After last week's 17% share price decline to NT$335, the stock trades at a forward P/E ratio of 28x. Average forward P/E is 23x in the Electronic industry in Taiwan. Total returns to shareholders of 562% over the past three years.New Risk • Apr 20New 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. This is currently the only risk that has been identified for the company.Valuation Update With 7 Day Price Move • Apr 09Investor sentiment improves as stock rises 18%After last week's 18% share price gain to NT$273, the stock trades at a forward P/E ratio of 23x. Average forward P/E is 19x in the Electronic industry in Taiwan. Total returns to shareholders of 389% over the past three years.Reported Earnings • Mar 12Full year 2025 earnings released: EPS: NT$4.21 (vs NT$3.65 in FY 2024)Full year 2025 results: EPS: NT$4.21 (up from NT$3.65 in FY 2024). Revenue: NT$7.88b (up 16% from FY 2024). Net income: NT$1.06b (up 15% from FY 2024). Profit margin: 14% (in line with FY 2024). Revenue is forecast to grow 34% 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 14% per year but the company’s share price has increased by 58% per year, which means it is tracking significantly ahead of earnings growth.お知らせ • Mar 09Co-Tech Development Corporation, Annual General Meeting, Jun 08, 2026Co-Tech Development Corporation, Annual General Meeting, Jun 08, 2026, at 09:00 Taipei Standard Time. Location: 1 floor no,392, jui kuang rd., neihu district, taipei city TaiwanValuation Update With 7 Day Price Move • Mar 09Investor sentiment deteriorates as stock falls 19%After last week's 19% share price decline to NT$233, 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 307% over the past three years.Valuation Update With 7 Day Price Move • Dec 11Investor sentiment improves as stock rises 17%After last week's 17% share price gain to NT$275, the stock trades at a forward P/E ratio of 28x. Average forward P/E is 17x in the Electronic industry in Taiwan. Total returns to shareholders of 439% over the past three years.Reported Earnings • Nov 10Third quarter 2025 earnings: EPS exceeds analyst expectations while revenues lag behindThird quarter 2025 results: EPS: NT$1.00 (up from NT$0.88 in 3Q 2024). Revenue: NT$1.99b (up 11% from 3Q 2024). Net income: NT$253.2m (up 14% from 3Q 2024). Profit margin: 13% (in line with 3Q 2024). Revenue missed analyst estimates by 1.2%. Earnings per share (EPS) exceeded analyst estimates by 7.5%. Revenue is forecast to grow 17% p.a. on average during the next 2 years, compared to a 14% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 64% per year, which means it is well ahead of earnings.Valuation Update With 7 Day Price Move • Nov 03Investor sentiment improves as stock rises 18%After last week's 18% share price gain to NT$257, the stock trades at a forward P/E ratio of 43x. Average forward P/E is 17x in the Electronic industry in Taiwan. Total returns to shareholders of 451% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$140 per share.Valuation Update With 7 Day Price Move • Oct 14Investor sentiment deteriorates as stock falls 20%After last week's 20% share price decline to NT$204, the stock trades at a forward P/E ratio of 34x. Average forward P/E is 16x in the Electronic industry in Taiwan. Total returns to shareholders of 494% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$221 per share.Valuation Update With 7 Day Price Move • Sep 16Investor sentiment deteriorates as stock falls 17%After last week's 17% share price decline to NT$213, the stock trades at a forward P/E ratio of 36x. Average forward P/E is 17x in the Electronic industry in Taiwan. Total returns to shareholders of 473% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$224 per share.Valuation Update With 7 Day Price Move • Aug 29Investor sentiment improves as stock rises 20%After last week's 20% share price gain to NT$218, the stock trades at a forward P/E ratio of 37x. Average forward P/E is 18x in the Electronic industry in Taiwan. Total returns to shareholders of 457% over the past three years.Buy Or Sell Opportunity • Aug 19Now 26% undervaluedOver the last 90 days, the stock has risen 214% to NT$169. The fair value is estimated to be NT$228, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 5.4% over the last 3 years. Earnings per share has declined by 13%. Revenue is forecast to grow by 17% in a year. Earnings are forecast to grow by 77% in the next year.Valuation Update With 7 Day Price Move • Aug 14Investor sentiment improves as stock rises 34%After last week's 34% share price gain to NT$153, 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 277% over the past three years.Reported Earnings • Aug 09Second quarter 2025 earnings: EPS misses analyst expectationsSecond quarter 2025 results: EPS: NT$0.66 (down from NT$1.15 in 2Q 2024). Revenue: NT$2.00b (up 10% from 2Q 2024). Net income: NT$167.0m (down 43% from 2Q 2024). Profit margin: 8.3% (down from 16% 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 11%. Revenue is forecast to grow 15% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has increased by 43% per year, which means it is well ahead of earnings.Valuation Update With 7 Day Price Move • Jul 29Investor sentiment improves as stock rises 22%After last week's 22% share price gain to NT$106, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 16x in the Electronic industry in Taiwan. Total returns to shareholders of 182% over the past three years.Upcoming Dividend • Jul 17Upcoming dividend of NT$1.50 per shareEligible shareholders must have bought the stock before 21 July 2025. Payment date: 20 August 2025. Payout ratio is a comfortable 42% and this is well supported by cash flows. Trailing yield: 1.8%. Lower than top quartile of Taiwanese dividend payers (5.3%). Lower than average of industry peers (3.0%).New Risk • Jul 11New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 6.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.6% average weekly change).Valuation Update With 7 Day Price Move • Jul 10Investor sentiment improves as stock rises 18%After last week's 18% share price gain to NT$69.10, 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 79% over the past three years.Declared Dividend • Jul 03Dividend of NT$1.50 announcedShareholders will receive a dividend of NT$1.50. Ex-date: 21st July 2025 Payment date: 20th August 2025 Dividend yield will be 2.6%, which is lower than the industry average of 4.0%. Sustainability & Growth Dividend is covered by both earnings (42% earnings payout ratio) and cash flows (73% cash payout ratio). The dividend has decreased over the past 76 years, indicating a lack of growth and stability in payments. Earnings per share has grown by 16% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover.お知らせ • Jun 25Co-Tech Development Corporation Announces Board ChangesCo-Tech Development Corporation announced the board changes. Title and name of the previous position holder: Dasong Investment Co., Ltd; Representative Raymond Soong Chairman; Chan, Chi-Che Director; George Chen Independent Director; Sun Chin-Su Independent Director; Hsieh Fa-Jung Independent Director. Resume of the previous position holder: Dasong Investment Co.,Ltd. Representative Raymond Soong Chairman Chairman of the Board of Directors. Chan, Chi-Che Director Co-Tech Development Corp. George Chen Independent Director Co-Tech Development Corp. Sun Chin-Su Independent Director Co-Tech Development Corp. Hsieh Fa-Jung Independent Director Co-Tech Development Corp. Title and name of the new position holder: Raymond Soong Chairman. Liang Yann Ping Independent Director. Wang Lii Gang Independent Director. Ho Chien Lung Independent Director. Tseng Huan Hsiung Independent Director. Resume of the new position holder: Raymond Soong Chairman Chairman of the Board of Directors. Liang Yann Ping Independent Director Uni-President Securities Corporation. Wang Lii Gang Independent Director Deputy General Manager, Marketing Center, Elite Electronic Material Corporation. Ho Chien Lung Independent Director Deputy General Manager, Taiwan Union Technology Corporation Group. Tseng Huan Hsiung Independent Director Chairman and CEO, Solid State Storage Technology Corp. Effective date of the new appointment is on June 23, 2025.Reported Earnings • May 10First quarter 2025 earnings released: EPS: NT$1.05 (vs NT$0.84 in 1Q 2024)First quarter 2025 results: EPS: NT$1.05 (up from NT$0.84 in 1Q 2024). Revenue: NT$1.73b (up 15% from 1Q 2024). Net income: NT$265.0m (up 25% from 1Q 2024). Profit margin: 15% (up from 14% in 1Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings.お知らせ • May 01Co-Tech Development Corporation to Report Q1, 2025 Results on May 09, 2025Co-Tech Development Corporation announced that they will report Q1, 2025 results on May 09, 2025Valuation Update With 7 Day Price Move • Apr 08Investor sentiment deteriorates as stock falls 19%After last week's 19% share price decline to NT$42.80, the stock trades at a trailing P/E ratio of 11.7x. Average trailing P/E is 17x in the Electronic industry in Taiwan. Total loss to shareholders of 26% over the past three years.Reported Earnings • Feb 25Full year 2024 earnings released: EPS: NT$3.65 (vs NT$2.11 in FY 2023)Full year 2024 results: EPS: NT$3.65 (up from NT$2.11 in FY 2023). Revenue: NT$6.82b (up 11% from FY 2023). Net income: NT$921.8m (up 73% from FY 2023). Profit margin: 14% (up from 8.6% 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 32% 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 • Feb 24Co-Tech Development Corporation, Annual General Meeting, Jun 23, 2025Co-Tech Development Corporation, Annual General Meeting, Jun 23, 2025. Location: 1 floor no,392, jui kuang rd., neihu district, taipei city Taiwanお知らせ • Feb 14Co-Tech Development Corporation to Report Q4, 2024 Results on Feb 21, 2025Co-Tech Development Corporation announced that they will report Q4, 2024 results on Feb 21, 2025New Risk • Dec 16New major risk - Financial data availabilityThe company has not reported any financial data. This is considered a major risk. With no or incomplete audited reported financial data, it is virtually impossible to assess the company's investment potential. Currently, the following risks have been identified for the company: Major Risk No financial data reported. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past.Reported Earnings • Nov 12Third quarter 2024 earnings released: EPS: NT$0.88 (vs NT$0.36 in 3Q 2023)Third quarter 2024 results: EPS: NT$0.88 (up from NT$0.36 in 3Q 2023). Revenue: NT$1.79b (up 27% from 3Q 2023). Net income: NT$222.7m (up 141% from 3Q 2023). Profit margin: 12% (up from 6.5% in 3Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 33% 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.Reported Earnings • Aug 16Second quarter 2024 earnings released: EPS: NT$1.15 (vs NT$0.33 in 2Q 2023)Second quarter 2024 results: EPS: NT$1.15 (up from NT$0.33 in 2Q 2023). Revenue: NT$1.82b (up 45% from 2Q 2023). Net income: NT$291.5m (up 248% from 2Q 2023). Profit margin: 16% (up from 6.7% 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 30% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings.お知らせ • Jul 24Co-Tech Development Corporation to Report Q2, 2024 Results on Aug 09, 2024Co-Tech Development Corporation announced that they will report Q2, 2024 results on Aug 09, 2024Declared Dividend • Jun 24Dividend reduced to NT$1.50Dividend of NT$1.50 is 40% lower than last year. Ex-date: 9th July 2024 Payment date: 8th August 2024 Dividend yield will be 2.1%, which is lower than the industry average of 4.0%. Sustainability & Growth Dividend is covered by earnings (67% earnings payout ratio) but not covered by cash flows (282% cash payout ratio). The dividend has decreased over the past 66 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to decline by 26% to shift the payout ratio to a potentially unsustainable range, which is more than the 2.3% EPS decline seen over the last 5 years.Reported Earnings • May 15First quarter 2024 earnings released: EPS: NT$0.84 (vs NT$0.71 in 1Q 2023)First quarter 2024 results: EPS: NT$0.84 (up from NT$0.71 in 1Q 2023). Revenue: NT$1.51b (down 14% from 1Q 2023). Net income: NT$212.5m (up 19% from 1Q 2023). Profit margin: 14% (up from 10% in 1Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings.お知らせ • May 12Co-Tech Development Corporation Proposes Cash Dividend for the Year Ended December 31, 2023The board of directors of Co-Tech Development Corporation proposed to distribute cash dividends to shareholders of TWD 1.5 per share for the year ended December 31, 2023. Total amount of cash dividends to shareholders TWD 378,882,000. Date of the board of directors resolution is May 10, 2024.お知らせ • May 03Co-Tech Development Corporation to Report Q1, 2024 Results on May 10, 2024Co-Tech Development Corporation announced that they will report Q1, 2024 results on May 10, 2024お知らせ • May 01Co-Tech Development Corporation Announces Resignation of Yang,Cheng-Ping as Marketing Department DirectorCo-Tech Development Corporation announced resignation of Marketing Department Director. Date of occurrence of the change: April 30, 2024. Name, title, and resume of the previous position holder: Yang, Cheng-Ping Director of Marketing Department. Name, title, and resume of the new position holder: Position currently vacant. Type of change: resignation. Reason for the change: Resignation. Effective date is April 30, 2024.Buy Or Sell Opportunity • Apr 20Now 21% undervaluedOver the last 90 days, the stock has risen 4.2% to NT$62.30. The fair value is estimated to be NT$78.44, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 2.8% over the last 3 years. Earnings per share has declined by 10%. Revenue is forecast to grow by 46% in 2 years. Earnings are forecast to grow by 94% in the next 2 years.Reported Earnings • Mar 10Full year 2023 earnings: EPS and revenues exceed analyst expectationsFull year 2023 results: EPS: NT$2.11 (down from NT$3.83 in FY 2022). Revenue: NT$6.17b (down 17% from FY 2022). Net income: NT$532.9m (down 45% from FY 2022). Profit margin: 8.6% (down from 13% in FY 2022). The decrease in margin was driven by lower revenue. Revenue exceeded analyst estimates by 6.0%. Earnings per share (EPS) also surpassed analyst estimates by 3.9%. Revenue is forecast to grow 19% p.a. on average during the next 2 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 10% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings.お知らせ • Feb 24+ 1 more updateCo-Tech Development Corporation, Annual General Meeting, Jun 21, 2024Co-Tech Development Corporation, Annual General Meeting, Jun 21, 2024. Location: 1F, No. 392, Ruey Kuang Rd Neihu Taiwan Agenda: To consider 2023 Business Report; to consider Audit Committee's Review Report of 2023 Financial Statements; to consider Compensation of Employees and Directors for 2023; to consider Board Meeting Regulations Revision Report; and to consider any other matters.Reported Earnings • Nov 14Third quarter 2023 earnings: Revenues exceed analysts expectations while EPS lags behindThird quarter 2023 results: EPS: NT$0.37 (down from NT$0.46 in 3Q 2022). Revenue: NT$1.41b (down 2.6% from 3Q 2022). Net income: NT$92.3m (down 21% from 3Q 2022). Profit margin: 6.5% (down from 8.0% in 3Q 2022). Revenue exceeded analyst estimates by 9.0%. Earnings per share (EPS) missed analyst estimates by 14%. Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 9.2% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 10% per year, which means it is tracking significantly ahead of earnings growth.Buying Opportunity • Oct 18Now 23% undervaluedOver the last 90 days, the stock is up 3.9%. The fair value is estimated to be NT$83.56, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.6% over the last 3 years. Earnings per share has grown by 16%. Revenue is forecast to grow by 25% in 2 years. Earnings is forecast to grow by 68% in the next 2 years.Major Estimate Revision • Sep 21Consensus revenue estimates fall by 11%The consensus outlook for revenues in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from NT$6.53b to NT$5.82b. EPS estimate fell from NT$2.56 to NT$2.03 per share. Net income forecast to grow 21% next year vs 5.2% growth forecast for Electronic industry in Taiwan. Consensus price target up from NT$50.00 to NT$52.50. Share price fell 6.6% to NT$62.40 over the past week.Valuation Update With 7 Day Price Move • Aug 21Investor sentiment improves as stock rises 17%After last week's 17% share price gain to NT$65.80, 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 103% over the past three years.New Risk • Aug 13New major risk - Dividend sustainabilityThe dividend is not well covered by earnings and cash flows. Payout ratio: 116% The company is paying a dividend despite having no free cash flows. Dividend yield: 4.3% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 116% Paying a dividend despite having no free cash flows. Minor Risks Share price has been volatile over the past 3 months (6.3% average weekly change). Profit margins are more than 30% lower than last year (8.5% net profit margin).Reported Earnings • Aug 12Second quarter 2023 earnings: EPS and revenues miss analyst expectationsSecond quarter 2023 results: EPS: NT$0.33 (down from NT$1.21 in 2Q 2022). Revenue: NT$1.25b (down 34% from 2Q 2022). Net income: NT$83.8m (down 73% from 2Q 2022). Profit margin: 6.7% (down from 16% in 2Q 2022). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 14%. Earnings per share (EPS) also missed analyst estimates by 37%. Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 8.0% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 16% per year whereas the company’s share price has increased by 14% per year.New Risk • Aug 10New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 6.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (6.3% average weekly change). Profit margins are more than 30% lower than last year (11% net profit margin).Upcoming Dividend • Jun 30Upcoming dividend of NT$2.50 per share at 4.1% yieldEligible shareholders must have bought the stock before 07 July 2023. Payment date: 08 August 2023. Payout ratio is a comfortable 65% but the company is not cash flow positive. Trailing yield: 4.1%. Lower than top quartile of Taiwanese dividend payers (5.5%). In line with average of industry peers (4.2%).お知らせ • Jun 21Co-Tech Development Corporation Announces Cash Dividend, Payable on August 8, 2023Co-Tech Development Corporation announced the company’s shareholders’ meeting held on June 19, 2023, announced Earnings Distribution Cash Dividends of TWD 631,470,000. Ex-rights (Ex-dividend) date is July 7, 2023. Ex-rights (Ex-dividend) record date is July 15, 2023. Payment date of cash dividend distribution is August 8, 2023.お知らせ • May 06Co-Tech Development Corp. Approves DividendCo-Tech Development Corporation announced that at the board meeting held on May 5, 2023, the company approved appropriations of earnings in cash dividends to shareholders TWD 2.5 per share.Buying Opportunity • Mar 23Now 21% undervaluedOver the last 90 days, the stock is up 17%. The fair value is estimated to be NT$76.04, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 42%. Revenue is forecast to grow by 18% in 2 years. Earnings is forecast to grow by 15% in the next 2 years.Reported Earnings • Mar 15Full year 2022 earnings: EPS misses analyst expectationsFull year 2022 results: EPS: NT$3.83 (down from NT$6.03 in FY 2021). Revenue: NT$7.41b (down 17% from FY 2021). Net income: NT$967.2m (down 37% from FY 2021). Profit margin: 13% (down from 17% in FY 2021). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 4.5%. Revenue is forecast to grow 8.5% p.a. on average during the next 2 years, compared to a 5.8% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has only increased by 27% per year, which means it is significantly lagging earnings growth.Major Estimate Revision • Jan 04Consensus revenue estimates increase by 12%The consensus outlook for revenues in 2022 has improved. 2022 revenue forecast increased from NT$6.57b to NT$7.38b. EPS estimate increased from NT$3.78 to NT$4.01 per share. Net income forecast to shrink 34% next year vs 3.5% growth forecast for Electronic industry in Taiwan . Consensus price target up from NT$40.00 to NT$50.00. Share price rose 14% to NT$57.00 over the past week.Valuation Update With 7 Day Price Move • Dec 01Investor sentiment improved over the past weekAfter last week's 15% share price gain to NT$59.00, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 10x in the Electronic industry in Taiwan. Total returns to shareholders of 55% over the past three years.Board Change • Nov 16Less than half of directors are independentThere is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 6 experienced directors. 3 highly experienced directors. 3 independent directors (7 non-independent directors). Independent Director George Chen was the last independent director to join the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.Reported Earnings • Nov 13Third quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behindThird quarter 2022 results: EPS: NT$0.46 (down from NT$1.74 in 3Q 2021). Revenue: NT$1.45b (down 40% from 3Q 2021). Net income: NT$116.2m (down 74% from 3Q 2021). Profit margin: 8.0% (down from 18% in 3Q 2021). The decrease in margin was driven by lower revenue. Revenue exceeded analyst estimates by 11%. Earnings per share (EPS) missed analyst estimates by 16%. Revenue is forecast to grow 2.1% 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 increased by 51% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth.Valuation Update With 7 Day Price Move • Oct 31Investor sentiment improved over the past weekAfter last week's 18% share price gain to NT$43.60, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 8x in the Electronic industry in Taiwan. Total returns to shareholders of 19% over the past three years.Major Estimate Revision • Aug 25Consensus revenue estimates fall by 16%The consensus outlook for revenues in 2022 has deteriorated. 2022 revenue forecast decreased from NT$7.82b to NT$6.57b. EPS estimate fell from NT$5.93 to NT$3.78 per share. Net income forecast to shrink 49% next year vs 4.6% growth forecast for Electronic industry in Taiwan . Consensus price target down from NT$61.00 to NT$40.00. Share price fell 2.6% to NT$42.80 over the past week.Reported Earnings • Aug 07Second quarter 2022 earnings: Revenues and EPS in line with analyst expectationsSecond quarter 2022 results: EPS: NT$1.21 (down from NT$1.54 in 2Q 2021). Revenue: NT$1.90b (down 15% from 2Q 2021). Net income: NT$305.7m (down 21% from 2Q 2021). Profit margin: 16% (down from 18% in 2Q 2021). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Over the next year, revenue is expected to shrink by 3.7% compared to a 8.7% growth forecast for the industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 53% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth.Upcoming Dividend • Jul 11Upcoming dividend of NT$4.20 per shareEligible shareholders must have bought the stock before 18 July 2022. Payment date: 16 August 2022. Payout ratio is a comfortable 63% and this is well supported by cash flows. Trailing yield: 9.1%. Within top quartile of Taiwanese dividend payers (6.7%). Higher than average of industry peers (4.8%).Reported Earnings • May 08First quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behindFirst quarter 2022 results: EPS: NT$1.51 (up from NT$0.92 in 1Q 2021). Revenue: NT$2.10b (up 15% from 1Q 2021). Net income: NT$381.7m (up 64% from 1Q 2021). Profit margin: 18% (up from 13% in 1Q 2021). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 3.5%. Earnings per share (EPS) exceeded analyst estimates by 4.1%. Over the next year, revenue is forecast to grow 10%, compared to a 10% growth forecast for the industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has only increased by 26% 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. 7 non-independent directors. Independent Director George Chen was the last independent director to join the board, commencing their role in 2016. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.Reported Earnings • Feb 24Full year 2021 earnings: Revenues and EPS in line with analyst expectationsFull year 2021 results: EPS: NT$6.03 (up from NT$2.14 in FY 2020). Revenue: NT$8.91b (up 48% from FY 2020). Net income: NT$1.52b (up 181% from FY 2020). Profit margin: 17% (up from 9.0% in FY 2020). 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. Over the next year, revenue is forecast to grow 9.0%, compared to a 8.7% growth forecast for the industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 31% per year whereas the company’s share price has increased by 32% per year.お知らせ • Feb 24+ 1 more updateCo-Tech Development Corporation, Annual General Meeting, Jun 21, 2022Co-Tech Development Corporation, Annual General Meeting, Jun 21, 2022. Location: 1F, No. 392, Ruey Kuang Rd, Neihu Taipei Taiwan Agenda: To consider Audit Committee's Review Report of 2021 Financial Statements; to consider Compensation of Employees and Directors for 2021; to consider adoption of 2021 Business Report and Financial Statements; to consider adoption of the Proposal of earning distribution for 2021; to discuss Cash Distribution from Capital Surplus for 2021; and to consider other matters.お知らせ • Feb 07Co-Tech Development Corporation Announces That Legal Person Director Reassignment of Legal RepresentativeCo-Tech Development Corporation announced company's legal person director reassignment of legal representative: Date of occurrence of the change:2022/01/28; Name of legal person: HUA ENG WIRE AND CABLE CO., LTD.; Name of the previous position holder:Lin Min-Shiang; Resume of the previous position holder: Director of HUA ENG WIRE AND CABLE CO., LTD.; Name of the new position holder: Liu Hsiu-Mei; Resume of the new position holder: Accounting Office Manager of HUA ENG WIRE AND CABLE CO., LTD.; Reason for the change: Change of representative of corporate director; Effective date of the new appointment:2022/02/01 Any other matters that need to be specified: HUA ENG WIRE AND CABLE CO., LTD. issued a reassignment letter on January 28, 2022 to change the representative, and the effective date was February 1, 2022.Valuation Update With 7 Day Price Move • Oct 04Investor sentiment deteriorated over the past weekAfter last week's 17% share price decline to NT$66.00, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 11x in the Electronic industry in Taiwan. Total returns to shareholders of 163% over the past three years.Valuation Update With 7 Day Price Move • Aug 19Investor sentiment deteriorated over the past weekAfter last week's 18% share price decline to NT$69.30, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 12x in the Electronic industry in Taiwan. Total returns to shareholders of 143% over the past three years.Upcoming Dividend • Aug 18Upcoming dividend of NT$2.00 per shareEligible shareholders must have bought the stock before 25 August 2021. Payment date: 23 September 2021. Trailing yield: 2.7%. Lower than top quartile of Taiwanese dividend payers (5.3%). Lower than average of industry peers (3.3%).Reported Earnings • Aug 03Second quarter 2021 earnings released: EPS NT$1.54 (vs NT$0.62 in 2Q 2020)The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: NT$2.23b (up 48% from 2Q 2020). Net income: NT$388.9m (up 147% from 2Q 2020). Profit margin: 18% (up from 10% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 32% per year, which means it is well ahead of earnings.Valuation Update With 7 Day Price Move • May 20Investor sentiment improved over the past weekAfter last week's 15% share price gain to NT$78.60, the stock trades at a trailing P/E ratio of 32.1x. Average trailing P/E is 15x in the Electronic industry in Taiwan. Total returns to shareholders of 142% over the past three years.Reported Earnings • May 08First quarter 2021 earnings released: EPS NT$0.92 (vs NT$0.62 in 1Q 2020)The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$1.83b (up 25% from 1Q 2020). Net income: NT$233.1m (up 49% from 1Q 2020). Profit margin: 13% (up from 11% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has increased by 23% per year, which means it is well ahead of earnings.Valuation Update With 7 Day Price Move • May 05Investor sentiment deteriorated over the past weekAfter last week's 16% share price decline to NT$67.30, the stock trades at a trailing P/E ratio of 31.4x. Average trailing P/E is 19x in the Electronic industry in Taiwan. Total returns to shareholders of 113% over the past three years.Reported Earnings • Apr 04Full year 2020 earnings releasedThe company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$6.04b (up 16% from FY 2019). Net income: NT$541.6m (up 37% from FY 2019). Profit margin: 9.0% (up from 7.6% in FY 2019). The increase in margin 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 21% per year, which means it is well ahead of earnings.Is New 90 Day High Low • Feb 06New 90-day high: NT$57.90The company is up 50% from its price of NT$38.50 on 06 November 2020. The Taiwanese market is up 20% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is up 25% over the same period.お知らせ • Jan 28Co-Tech Development Corporation, Annual General Meeting, Jun 28, 2021Co-Tech Development Corporation, Annual General Meeting, Jun 28, 2021. Location: Conference Room of Lite-on Building 1F, No. 392, Ruey Kuang Rd, Neihu, Taipei Taipei Guangdong Province Taiwan Agenda: To consider Audit Committee's Review Report of 2020 Financial Statements; to consider Compensation of Employees and Directors for 2020; to consider adoption of 2020 Business Report and Financial Statements; to consider adoption of the Proposal of earning distribution for 2020; to discuss Cash Distribution from Capital Surplus for 2020; and to consider other matters.Reported Earnings • Jan 28Full year 2020 earnings released: EPS NT$2.14 (vs NT$1.57 in FY 2019)The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$6.04b (up 16% from FY 2019). Net income: NT$541.6m (up 37% from FY 2019). Profit margin: 9.0% (up from 7.6% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings.Valuation Update With 7 Day Price Move • Dec 28Investor sentiment improved over the past weekAfter last week's 25% share price gain to NT$55.50, the stock is trading at a trailing P/E ratio of 25.2x, up from the previous P/E ratio of 20.2x. This compares to an average P/E of 17x in the Electronic industry in Taiwan. Total returns to shareholders over the past three years are 64%.Valuation Update With 7 Day Price Move • Dec 24Investor sentiment improved over the past weekAfter last week's 19% share price gain to NT$51.50, the stock is trading at a trailing P/E ratio of 23.4x, up from the previous P/E ratio of 19.7x. This compares to an average P/E of 17x in the Electronic industry in Taiwan. Total returns to shareholders over the past three years are 54%.Is New 90 Day High Low • Dec 23New 90-day high: NT$48.80The company is up 32% from its price of NT$37.05 on 25 September 2020. The Taiwanese market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is up 12% over the same period.Reported Earnings • Nov 16Third quarter 2020 earnings released: EPS NT$0.51The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: NT$1.47b (up 6.5% from 3Q 2019). Net income: NT$128.4m (up 41% from 3Q 2019). Profit margin: 8.7% (up from 6.6% in 3Q 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 41% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings.Is New 90 Day High Low • Nov 12New 90-day high: NT$41.90The company is up 7.0% from its price of NT$39.15 on 14 August 2020. The Taiwanese market is up 4.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is down 1.0% over the same period.Reported Earnings • Nov 06Third quarter 2020 earnings released: EPS NT$0.51The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: NT$1.47b (up 6.5% from 3Q 2019). Net income: NT$128.4m (up 41% from 3Q 2019). Profit margin: 8.7% (up from 6.6% in 3Q 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 41% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings.業績と収益の成長予測TPEX:8358 - 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12/31/202830,887N/AN/AN/A112/31/202719,7135,760-1,202-102212/31/202611,5832,7981501,15023/31/20268,6841,317-221313N/A12/31/20257,8801,063-140362N/A9/30/20257,422880271781N/A6/30/20257,230850507862N/A3/31/20257,044974522868N/A12/31/20246,822922507912N/A9/30/20246,865904136571N/A6/30/20246,4867744441N/A3/31/20245,922566135699N/A12/31/20236,170533-15681N/A9/30/20236,379519-452332N/A6/30/20236,417543-215769N/A3/31/20237,061765-172966N/A12/31/20227,407967-621,043N/A9/30/20227,8771,2651,0312,357N/A6/30/20228,8531,5891,0402,202N/A3/31/20229,1821,6729921,980N/A12/31/20218,9151,5238801,675N/A9/30/20218,0701,161453831N/A6/30/20217,119850282529N/A3/31/20216,400618463593N/A12/31/20206,037542664758N/A9/30/20206,067556546657N/A6/30/20205,977519670773N/A3/31/20205,613456401463N/A12/31/20195,221397N/A618N/A9/30/20194,759415N/A1,083N/A6/30/20195,102528N/A1,172N/A3/31/20195,656636N/A1,330N/A12/31/20186,240741N/A1,198N/A9/30/20186,492809N/A747N/A6/30/20186,386822N/A1,186N/A3/31/20186,478972N/A1,519N/A12/31/20176,6181,117N/A1,683N/A9/30/20176,7901,207N/A1,817N/A6/30/20176,5921,174N/A1,253N/A3/31/20176,059937N/A726N/A12/31/20165,396643N/A544N/A9/30/20164,930284N/A191N/A6/30/20164,58492N/A301N/A3/31/20164,333-79N/A426N/A12/31/20154,265-202N/A185N/A9/30/20154,003-221N/A321N/A6/30/20154,013-286N/A83N/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: 8358の予測収益成長率 (年間77.7% ) は 貯蓄率 ( 1.3% ) を上回っています。収益対市場: 8358の収益 ( 77.7% ) はTW市場 ( 26.3% ) 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: 8358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: 8358の収益 ( 43.9% ) TW市場 ( 18.7% ) 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: 8358の収益 ( 43.9% ) 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: 8358の 自己資本利益率 が 3 年後に高くなると予測されるかどうかを判断するにはデータが不十分です成長企業の発掘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2026/06/22 13:59終値2026/06/18 00:00収益2026/03/31年間収益2025/12/31データソース企業分析に使用したデータはS&P Global Market Intelligence LLC のものです。本レポートを作成するための分析モデルでは、以下のデータを使用しています。データは正規化されているため、ソースが利用可能になるまでに時間がかかる場合があります。パッケージデータタイムフレーム米国ソース例会社財務10年損益計算書キャッシュ・フロー計算書貸借対照表SECフォーム10-KSECフォーム10-Qアナリストのコンセンサス予想+プラス3年予想財務アナリストの目標株価アナリストリサーチレポートBlue Matrix市場価格30年株価配当、分割、措置ICEマーケットデータSECフォームS-1所有権10年トップ株主インサイダー取引SECフォーム4SECフォーム13Dマネジメント10年リーダーシップ・チーム取締役会SECフォーム10-KSECフォームDEF 14A主な進展10年会社からのお知らせSECフォーム8-K* 米国証券を対象とした例であり、非米国証券については、同等の規制書式および情報源を使用。特に断りのない限り、すべての財務データは1年ごとの期間に基づいていますが、四半期ごとに更新されます。これは、TTM（Trailing Twelve Month）またはLTM（Last Twelve Month）データとして知られています。詳細はこちら。分析モデルとスノーフレークこのレポートを生成するために使用した分析モデルの詳細は、当社の Github ページ でご覧いただけます。また、レポートの使い方に関する ガイド や YouTube の チュートリアル もご用意しています。シンプリー・ウォールストリート分析モデルを設計・構築した世界トップクラスのチームについてご紹介します。業界およびセクターの指標私たちの業界とセクションの指標は、Simply Wall Stによって6時間ごとに計算されます。アナリスト筋Co-Tech Development Corporation 2 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。4 アナリスト機関Kuan-Chao WangGoldman Sachsnull nullKGI Securities Co. Ltd.Youxi LinKGI Securities Co. Ltd.1 その他のアナリストを表示
Major Estimate Revision • Sep 21Consensus revenue estimates fall by 11%The consensus outlook for revenues in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from NT$6.53b to NT$5.82b. EPS estimate fell from NT$2.56 to NT$2.03 per share. Net income forecast to grow 21% next year vs 5.2% growth forecast for Electronic industry in Taiwan. Consensus price target up from NT$50.00 to NT$52.50. Share price fell 6.6% to NT$62.40 over the past week.
Major Estimate Revision • Jan 04Consensus revenue estimates increase by 12%The consensus outlook for revenues in 2022 has improved. 2022 revenue forecast increased from NT$6.57b to NT$7.38b. EPS estimate increased from NT$3.78 to NT$4.01 per share. Net income forecast to shrink 34% next year vs 3.5% growth forecast for Electronic industry in Taiwan . Consensus price target up from NT$40.00 to NT$50.00. Share price rose 14% to NT$57.00 over the past week.
Major Estimate Revision • Aug 25Consensus revenue estimates fall by 16%The consensus outlook for revenues in 2022 has deteriorated. 2022 revenue forecast decreased from NT$7.82b to NT$6.57b. EPS estimate fell from NT$5.93 to NT$3.78 per share. Net income forecast to shrink 49% next year vs 4.6% growth forecast for Electronic industry in Taiwan . Consensus price target down from NT$61.00 to NT$40.00. Share price fell 2.6% to NT$42.80 over the past week.
Valuation Update With 7 Day Price Move • May 18Investor sentiment deteriorates as stock falls 16%After last week's 16% share price decline to NT$390, 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 641% over the past three years.
New Risk • May 09New major risk - Earnings qualityThe company has a high level of non-cash earnings. Accrual ratio: 21% 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 (21% accrual ratio). Minor Risk Share price has been volatile over the past 3 months (12% average weekly change).
Valuation Update With 7 Day Price Move • Apr 27Investor sentiment deteriorates as stock falls 17%After last week's 17% share price decline to NT$335, the stock trades at a forward P/E ratio of 28x. Average forward P/E is 23x in the Electronic industry in Taiwan. Total returns to shareholders of 562% over the past three years.
New Risk • Apr 20New 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. This is currently the only risk that has been identified for the company.
Valuation Update With 7 Day Price Move • Apr 09Investor sentiment improves as stock rises 18%After last week's 18% share price gain to NT$273, the stock trades at a forward P/E ratio of 23x. Average forward P/E is 19x in the Electronic industry in Taiwan. Total returns to shareholders of 389% over the past three years.
Reported Earnings • Mar 12Full year 2025 earnings released: EPS: NT$4.21 (vs NT$3.65 in FY 2024)Full year 2025 results: EPS: NT$4.21 (up from NT$3.65 in FY 2024). Revenue: NT$7.88b (up 16% from FY 2024). Net income: NT$1.06b (up 15% from FY 2024). Profit margin: 14% (in line with FY 2024). Revenue is forecast to grow 34% 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 14% per year but the company’s share price has increased by 58% per year, which means it is tracking significantly ahead of earnings growth.
お知らせ • Mar 09Co-Tech Development Corporation, Annual General Meeting, Jun 08, 2026Co-Tech Development Corporation, Annual General Meeting, Jun 08, 2026, at 09:00 Taipei Standard Time. Location: 1 floor no,392, jui kuang rd., neihu district, taipei city Taiwan
Valuation Update With 7 Day Price Move • Mar 09Investor sentiment deteriorates as stock falls 19%After last week's 19% share price decline to NT$233, 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 307% over the past three years.
Valuation Update With 7 Day Price Move • Dec 11Investor sentiment improves as stock rises 17%After last week's 17% share price gain to NT$275, the stock trades at a forward P/E ratio of 28x. Average forward P/E is 17x in the Electronic industry in Taiwan. Total returns to shareholders of 439% over the past three years.
Reported Earnings • Nov 10Third quarter 2025 earnings: EPS exceeds analyst expectations while revenues lag behindThird quarter 2025 results: EPS: NT$1.00 (up from NT$0.88 in 3Q 2024). Revenue: NT$1.99b (up 11% from 3Q 2024). Net income: NT$253.2m (up 14% from 3Q 2024). Profit margin: 13% (in line with 3Q 2024). Revenue missed analyst estimates by 1.2%. Earnings per share (EPS) exceeded analyst estimates by 7.5%. Revenue is forecast to grow 17% p.a. on average during the next 2 years, compared to a 14% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 64% per year, which means it is well ahead of earnings.
Valuation Update With 7 Day Price Move • Nov 03Investor sentiment improves as stock rises 18%After last week's 18% share price gain to NT$257, the stock trades at a forward P/E ratio of 43x. Average forward P/E is 17x in the Electronic industry in Taiwan. Total returns to shareholders of 451% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$140 per share.
Valuation Update With 7 Day Price Move • Oct 14Investor sentiment deteriorates as stock falls 20%After last week's 20% share price decline to NT$204, the stock trades at a forward P/E ratio of 34x. Average forward P/E is 16x in the Electronic industry in Taiwan. Total returns to shareholders of 494% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$221 per share.
Valuation Update With 7 Day Price Move • Sep 16Investor sentiment deteriorates as stock falls 17%After last week's 17% share price decline to NT$213, the stock trades at a forward P/E ratio of 36x. Average forward P/E is 17x in the Electronic industry in Taiwan. Total returns to shareholders of 473% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$224 per share.
Valuation Update With 7 Day Price Move • Aug 29Investor sentiment improves as stock rises 20%After last week's 20% share price gain to NT$218, the stock trades at a forward P/E ratio of 37x. Average forward P/E is 18x in the Electronic industry in Taiwan. Total returns to shareholders of 457% over the past three years.
Buy Or Sell Opportunity • Aug 19Now 26% undervaluedOver the last 90 days, the stock has risen 214% to NT$169. The fair value is estimated to be NT$228, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 5.4% over the last 3 years. Earnings per share has declined by 13%. Revenue is forecast to grow by 17% in a year. Earnings are forecast to grow by 77% in the next year.
Valuation Update With 7 Day Price Move • Aug 14Investor sentiment improves as stock rises 34%After last week's 34% share price gain to NT$153, 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 277% over the past three years.
Reported Earnings • Aug 09Second quarter 2025 earnings: EPS misses analyst expectationsSecond quarter 2025 results: EPS: NT$0.66 (down from NT$1.15 in 2Q 2024). Revenue: NT$2.00b (up 10% from 2Q 2024). Net income: NT$167.0m (down 43% from 2Q 2024). Profit margin: 8.3% (down from 16% 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 11%. Revenue is forecast to grow 15% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has increased by 43% per year, which means it is well ahead of earnings.
Valuation Update With 7 Day Price Move • Jul 29Investor sentiment improves as stock rises 22%After last week's 22% share price gain to NT$106, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 16x in the Electronic industry in Taiwan. Total returns to shareholders of 182% over the past three years.
Upcoming Dividend • Jul 17Upcoming dividend of NT$1.50 per shareEligible shareholders must have bought the stock before 21 July 2025. Payment date: 20 August 2025. Payout ratio is a comfortable 42% and this is well supported by cash flows. Trailing yield: 1.8%. Lower than top quartile of Taiwanese dividend payers (5.3%). Lower than average of industry peers (3.0%).
New Risk • Jul 11New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 6.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.6% average weekly change).
Valuation Update With 7 Day Price Move • Jul 10Investor sentiment improves as stock rises 18%After last week's 18% share price gain to NT$69.10, 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 79% over the past three years.
Declared Dividend • Jul 03Dividend of NT$1.50 announcedShareholders will receive a dividend of NT$1.50. Ex-date: 21st July 2025 Payment date: 20th August 2025 Dividend yield will be 2.6%, which is lower than the industry average of 4.0%. Sustainability & Growth Dividend is covered by both earnings (42% earnings payout ratio) and cash flows (73% cash payout ratio). The dividend has decreased over the past 76 years, indicating a lack of growth and stability in payments. Earnings per share has grown by 16% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover.
お知らせ • Jun 25Co-Tech Development Corporation Announces Board ChangesCo-Tech Development Corporation announced the board changes. Title and name of the previous position holder: Dasong Investment Co., Ltd; Representative Raymond Soong Chairman; Chan, Chi-Che Director; George Chen Independent Director; Sun Chin-Su Independent Director; Hsieh Fa-Jung Independent Director. Resume of the previous position holder: Dasong Investment Co.,Ltd. Representative Raymond Soong Chairman Chairman of the Board of Directors. Chan, Chi-Che Director Co-Tech Development Corp. George Chen Independent Director Co-Tech Development Corp. Sun Chin-Su Independent Director Co-Tech Development Corp. Hsieh Fa-Jung Independent Director Co-Tech Development Corp. Title and name of the new position holder: Raymond Soong Chairman. Liang Yann Ping Independent Director. Wang Lii Gang Independent Director. Ho Chien Lung Independent Director. Tseng Huan Hsiung Independent Director. Resume of the new position holder: Raymond Soong Chairman Chairman of the Board of Directors. Liang Yann Ping Independent Director Uni-President Securities Corporation. Wang Lii Gang Independent Director Deputy General Manager, Marketing Center, Elite Electronic Material Corporation. Ho Chien Lung Independent Director Deputy General Manager, Taiwan Union Technology Corporation Group. Tseng Huan Hsiung Independent Director Chairman and CEO, Solid State Storage Technology Corp. Effective date of the new appointment is on June 23, 2025.
Reported Earnings • May 10First quarter 2025 earnings released: EPS: NT$1.05 (vs NT$0.84 in 1Q 2024)First quarter 2025 results: EPS: NT$1.05 (up from NT$0.84 in 1Q 2024). Revenue: NT$1.73b (up 15% from 1Q 2024). Net income: NT$265.0m (up 25% from 1Q 2024). Profit margin: 15% (up from 14% in 1Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings.
お知らせ • May 01Co-Tech Development Corporation to Report Q1, 2025 Results on May 09, 2025Co-Tech Development Corporation announced that they will report Q1, 2025 results on May 09, 2025
Valuation Update With 7 Day Price Move • Apr 08Investor sentiment deteriorates as stock falls 19%After last week's 19% share price decline to NT$42.80, the stock trades at a trailing P/E ratio of 11.7x. Average trailing P/E is 17x in the Electronic industry in Taiwan. Total loss to shareholders of 26% over the past three years.
Reported Earnings • Feb 25Full year 2024 earnings released: EPS: NT$3.65 (vs NT$2.11 in FY 2023)Full year 2024 results: EPS: NT$3.65 (up from NT$2.11 in FY 2023). Revenue: NT$6.82b (up 11% from FY 2023). Net income: NT$921.8m (up 73% from FY 2023). Profit margin: 14% (up from 8.6% 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 32% 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 • Feb 24Co-Tech Development Corporation, Annual General Meeting, Jun 23, 2025Co-Tech Development Corporation, Annual General Meeting, Jun 23, 2025. Location: 1 floor no,392, jui kuang rd., neihu district, taipei city Taiwan
お知らせ • Feb 14Co-Tech Development Corporation to Report Q4, 2024 Results on Feb 21, 2025Co-Tech Development Corporation announced that they will report Q4, 2024 results on Feb 21, 2025
New Risk • Dec 16New major risk - Financial data availabilityThe company has not reported any financial data. This is considered a major risk. With no or incomplete audited reported financial data, it is virtually impossible to assess the company's investment potential. Currently, the following risks have been identified for the company: Major Risk No financial data reported. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past.
Reported Earnings • Nov 12Third quarter 2024 earnings released: EPS: NT$0.88 (vs NT$0.36 in 3Q 2023)Third quarter 2024 results: EPS: NT$0.88 (up from NT$0.36 in 3Q 2023). Revenue: NT$1.79b (up 27% from 3Q 2023). Net income: NT$222.7m (up 141% from 3Q 2023). Profit margin: 12% (up from 6.5% in 3Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 33% 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.
Reported Earnings • Aug 16Second quarter 2024 earnings released: EPS: NT$1.15 (vs NT$0.33 in 2Q 2023)Second quarter 2024 results: EPS: NT$1.15 (up from NT$0.33 in 2Q 2023). Revenue: NT$1.82b (up 45% from 2Q 2023). Net income: NT$291.5m (up 248% from 2Q 2023). Profit margin: 16% (up from 6.7% 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 30% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings.
お知らせ • Jul 24Co-Tech Development Corporation to Report Q2, 2024 Results on Aug 09, 2024Co-Tech Development Corporation announced that they will report Q2, 2024 results on Aug 09, 2024
Declared Dividend • Jun 24Dividend reduced to NT$1.50Dividend of NT$1.50 is 40% lower than last year. Ex-date: 9th July 2024 Payment date: 8th August 2024 Dividend yield will be 2.1%, which is lower than the industry average of 4.0%. Sustainability & Growth Dividend is covered by earnings (67% earnings payout ratio) but not covered by cash flows (282% cash payout ratio). The dividend has decreased over the past 66 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to decline by 26% to shift the payout ratio to a potentially unsustainable range, which is more than the 2.3% EPS decline seen over the last 5 years.
Reported Earnings • May 15First quarter 2024 earnings released: EPS: NT$0.84 (vs NT$0.71 in 1Q 2023)First quarter 2024 results: EPS: NT$0.84 (up from NT$0.71 in 1Q 2023). Revenue: NT$1.51b (down 14% from 1Q 2023). Net income: NT$212.5m (up 19% from 1Q 2023). Profit margin: 14% (up from 10% in 1Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings.
お知らせ • May 12Co-Tech Development Corporation Proposes Cash Dividend for the Year Ended December 31, 2023The board of directors of Co-Tech Development Corporation proposed to distribute cash dividends to shareholders of TWD 1.5 per share for the year ended December 31, 2023. Total amount of cash dividends to shareholders TWD 378,882,000. Date of the board of directors resolution is May 10, 2024.
お知らせ • May 03Co-Tech Development Corporation to Report Q1, 2024 Results on May 10, 2024Co-Tech Development Corporation announced that they will report Q1, 2024 results on May 10, 2024
お知らせ • May 01Co-Tech Development Corporation Announces Resignation of Yang,Cheng-Ping as Marketing Department DirectorCo-Tech Development Corporation announced resignation of Marketing Department Director. Date of occurrence of the change: April 30, 2024. Name, title, and resume of the previous position holder: Yang, Cheng-Ping Director of Marketing Department. Name, title, and resume of the new position holder: Position currently vacant. Type of change: resignation. Reason for the change: Resignation. Effective date is April 30, 2024.
Buy Or Sell Opportunity • Apr 20Now 21% undervaluedOver the last 90 days, the stock has risen 4.2% to NT$62.30. The fair value is estimated to be NT$78.44, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 2.8% over the last 3 years. Earnings per share has declined by 10%. Revenue is forecast to grow by 46% in 2 years. Earnings are forecast to grow by 94% in the next 2 years.
Reported Earnings • Mar 10Full year 2023 earnings: EPS and revenues exceed analyst expectationsFull year 2023 results: EPS: NT$2.11 (down from NT$3.83 in FY 2022). Revenue: NT$6.17b (down 17% from FY 2022). Net income: NT$532.9m (down 45% from FY 2022). Profit margin: 8.6% (down from 13% in FY 2022). The decrease in margin was driven by lower revenue. Revenue exceeded analyst estimates by 6.0%. Earnings per share (EPS) also surpassed analyst estimates by 3.9%. Revenue is forecast to grow 19% p.a. on average during the next 2 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 10% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings.
お知らせ • Feb 24+ 1 more updateCo-Tech Development Corporation, Annual General Meeting, Jun 21, 2024Co-Tech Development Corporation, Annual General Meeting, Jun 21, 2024. Location: 1F, No. 392, Ruey Kuang Rd Neihu Taiwan Agenda: To consider 2023 Business Report; to consider Audit Committee's Review Report of 2023 Financial Statements; to consider Compensation of Employees and Directors for 2023; to consider Board Meeting Regulations Revision Report; and to consider any other matters.
Reported Earnings • Nov 14Third quarter 2023 earnings: Revenues exceed analysts expectations while EPS lags behindThird quarter 2023 results: EPS: NT$0.37 (down from NT$0.46 in 3Q 2022). Revenue: NT$1.41b (down 2.6% from 3Q 2022). Net income: NT$92.3m (down 21% from 3Q 2022). Profit margin: 6.5% (down from 8.0% in 3Q 2022). Revenue exceeded analyst estimates by 9.0%. Earnings per share (EPS) missed analyst estimates by 14%. Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 9.2% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 10% per year, which means it is tracking significantly ahead of earnings growth.
Buying Opportunity • Oct 18Now 23% undervaluedOver the last 90 days, the stock is up 3.9%. The fair value is estimated to be NT$83.56, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.6% over the last 3 years. Earnings per share has grown by 16%. Revenue is forecast to grow by 25% in 2 years. Earnings is forecast to grow by 68% in the next 2 years.
Major Estimate Revision • Sep 21Consensus revenue estimates fall by 11%The consensus outlook for revenues in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from NT$6.53b to NT$5.82b. EPS estimate fell from NT$2.56 to NT$2.03 per share. Net income forecast to grow 21% next year vs 5.2% growth forecast for Electronic industry in Taiwan. Consensus price target up from NT$50.00 to NT$52.50. Share price fell 6.6% to NT$62.40 over the past week.
Valuation Update With 7 Day Price Move • Aug 21Investor sentiment improves as stock rises 17%After last week's 17% share price gain to NT$65.80, 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 103% over the past three years.
New Risk • Aug 13New major risk - Dividend sustainabilityThe dividend is not well covered by earnings and cash flows. Payout ratio: 116% The company is paying a dividend despite having no free cash flows. Dividend yield: 4.3% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 116% Paying a dividend despite having no free cash flows. Minor Risks Share price has been volatile over the past 3 months (6.3% average weekly change). Profit margins are more than 30% lower than last year (8.5% net profit margin).
Reported Earnings • Aug 12Second quarter 2023 earnings: EPS and revenues miss analyst expectationsSecond quarter 2023 results: EPS: NT$0.33 (down from NT$1.21 in 2Q 2022). Revenue: NT$1.25b (down 34% from 2Q 2022). Net income: NT$83.8m (down 73% from 2Q 2022). Profit margin: 6.7% (down from 16% in 2Q 2022). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 14%. Earnings per share (EPS) also missed analyst estimates by 37%. Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 8.0% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 16% per year whereas the company’s share price has increased by 14% per year.
New Risk • Aug 10New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 6.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (6.3% average weekly change). Profit margins are more than 30% lower than last year (11% net profit margin).
Upcoming Dividend • Jun 30Upcoming dividend of NT$2.50 per share at 4.1% yieldEligible shareholders must have bought the stock before 07 July 2023. Payment date: 08 August 2023. Payout ratio is a comfortable 65% but the company is not cash flow positive. Trailing yield: 4.1%. Lower than top quartile of Taiwanese dividend payers (5.5%). In line with average of industry peers (4.2%).
お知らせ • Jun 21Co-Tech Development Corporation Announces Cash Dividend, Payable on August 8, 2023Co-Tech Development Corporation announced the company’s shareholders’ meeting held on June 19, 2023, announced Earnings Distribution Cash Dividends of TWD 631,470,000. Ex-rights (Ex-dividend) date is July 7, 2023. Ex-rights (Ex-dividend) record date is July 15, 2023. Payment date of cash dividend distribution is August 8, 2023.
お知らせ • May 06Co-Tech Development Corp. Approves DividendCo-Tech Development Corporation announced that at the board meeting held on May 5, 2023, the company approved appropriations of earnings in cash dividends to shareholders TWD 2.5 per share.
Buying Opportunity • Mar 23Now 21% undervaluedOver the last 90 days, the stock is up 17%. The fair value is estimated to be NT$76.04, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 42%. Revenue is forecast to grow by 18% in 2 years. Earnings is forecast to grow by 15% in the next 2 years.
Reported Earnings • Mar 15Full year 2022 earnings: EPS misses analyst expectationsFull year 2022 results: EPS: NT$3.83 (down from NT$6.03 in FY 2021). Revenue: NT$7.41b (down 17% from FY 2021). Net income: NT$967.2m (down 37% from FY 2021). Profit margin: 13% (down from 17% in FY 2021). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 4.5%. Revenue is forecast to grow 8.5% p.a. on average during the next 2 years, compared to a 5.8% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has only increased by 27% per year, which means it is significantly lagging earnings growth.
Major Estimate Revision • Jan 04Consensus revenue estimates increase by 12%The consensus outlook for revenues in 2022 has improved. 2022 revenue forecast increased from NT$6.57b to NT$7.38b. EPS estimate increased from NT$3.78 to NT$4.01 per share. Net income forecast to shrink 34% next year vs 3.5% growth forecast for Electronic industry in Taiwan . Consensus price target up from NT$40.00 to NT$50.00. Share price rose 14% to NT$57.00 over the past week.
Valuation Update With 7 Day Price Move • Dec 01Investor sentiment improved over the past weekAfter last week's 15% share price gain to NT$59.00, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 10x in the Electronic industry in Taiwan. Total returns to shareholders of 55% over the past three years.
Board Change • Nov 16Less than half of directors are independentThere is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 6 experienced directors. 3 highly experienced directors. 3 independent directors (7 non-independent directors). Independent Director George Chen was the last independent director to join the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.
Reported Earnings • Nov 13Third quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behindThird quarter 2022 results: EPS: NT$0.46 (down from NT$1.74 in 3Q 2021). Revenue: NT$1.45b (down 40% from 3Q 2021). Net income: NT$116.2m (down 74% from 3Q 2021). Profit margin: 8.0% (down from 18% in 3Q 2021). The decrease in margin was driven by lower revenue. Revenue exceeded analyst estimates by 11%. Earnings per share (EPS) missed analyst estimates by 16%. Revenue is forecast to grow 2.1% 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 increased by 51% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth.
Valuation Update With 7 Day Price Move • Oct 31Investor sentiment improved over the past weekAfter last week's 18% share price gain to NT$43.60, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 8x in the Electronic industry in Taiwan. Total returns to shareholders of 19% over the past three years.
Major Estimate Revision • Aug 25Consensus revenue estimates fall by 16%The consensus outlook for revenues in 2022 has deteriorated. 2022 revenue forecast decreased from NT$7.82b to NT$6.57b. EPS estimate fell from NT$5.93 to NT$3.78 per share. Net income forecast to shrink 49% next year vs 4.6% growth forecast for Electronic industry in Taiwan . Consensus price target down from NT$61.00 to NT$40.00. Share price fell 2.6% to NT$42.80 over the past week.
Reported Earnings • Aug 07Second quarter 2022 earnings: Revenues and EPS in line with analyst expectationsSecond quarter 2022 results: EPS: NT$1.21 (down from NT$1.54 in 2Q 2021). Revenue: NT$1.90b (down 15% from 2Q 2021). Net income: NT$305.7m (down 21% from 2Q 2021). Profit margin: 16% (down from 18% in 2Q 2021). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Over the next year, revenue is expected to shrink by 3.7% compared to a 8.7% growth forecast for the industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 53% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth.
Upcoming Dividend • Jul 11Upcoming dividend of NT$4.20 per shareEligible shareholders must have bought the stock before 18 July 2022. Payment date: 16 August 2022. Payout ratio is a comfortable 63% and this is well supported by cash flows. Trailing yield: 9.1%. Within top quartile of Taiwanese dividend payers (6.7%). Higher than average of industry peers (4.8%).
Reported Earnings • May 08First quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behindFirst quarter 2022 results: EPS: NT$1.51 (up from NT$0.92 in 1Q 2021). Revenue: NT$2.10b (up 15% from 1Q 2021). Net income: NT$381.7m (up 64% from 1Q 2021). Profit margin: 18% (up from 13% in 1Q 2021). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 3.5%. Earnings per share (EPS) exceeded analyst estimates by 4.1%. Over the next year, revenue is forecast to grow 10%, compared to a 10% growth forecast for the industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has only increased by 26% 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. 7 non-independent directors. Independent Director George Chen was the last independent director to join the board, commencing their role in 2016. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
Reported Earnings • Feb 24Full year 2021 earnings: Revenues and EPS in line with analyst expectationsFull year 2021 results: EPS: NT$6.03 (up from NT$2.14 in FY 2020). Revenue: NT$8.91b (up 48% from FY 2020). Net income: NT$1.52b (up 181% from FY 2020). Profit margin: 17% (up from 9.0% in FY 2020). 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. Over the next year, revenue is forecast to grow 9.0%, compared to a 8.7% growth forecast for the industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 31% per year whereas the company’s share price has increased by 32% per year.
お知らせ • Feb 24+ 1 more updateCo-Tech Development Corporation, Annual General Meeting, Jun 21, 2022Co-Tech Development Corporation, Annual General Meeting, Jun 21, 2022. Location: 1F, No. 392, Ruey Kuang Rd, Neihu Taipei Taiwan Agenda: To consider Audit Committee's Review Report of 2021 Financial Statements; to consider Compensation of Employees and Directors for 2021; to consider adoption of 2021 Business Report and Financial Statements; to consider adoption of the Proposal of earning distribution for 2021; to discuss Cash Distribution from Capital Surplus for 2021; and to consider other matters.
お知らせ • Feb 07Co-Tech Development Corporation Announces That Legal Person Director Reassignment of Legal RepresentativeCo-Tech Development Corporation announced company's legal person director reassignment of legal representative: Date of occurrence of the change:2022/01/28; Name of legal person: HUA ENG WIRE AND CABLE CO., LTD.; Name of the previous position holder:Lin Min-Shiang; Resume of the previous position holder: Director of HUA ENG WIRE AND CABLE CO., LTD.; Name of the new position holder: Liu Hsiu-Mei; Resume of the new position holder: Accounting Office Manager of HUA ENG WIRE AND CABLE CO., LTD.; Reason for the change: Change of representative of corporate director; Effective date of the new appointment:2022/02/01 Any other matters that need to be specified: HUA ENG WIRE AND CABLE CO., LTD. issued a reassignment letter on January 28, 2022 to change the representative, and the effective date was February 1, 2022.
Valuation Update With 7 Day Price Move • Oct 04Investor sentiment deteriorated over the past weekAfter last week's 17% share price decline to NT$66.00, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 11x in the Electronic industry in Taiwan. Total returns to shareholders of 163% over the past three years.
Valuation Update With 7 Day Price Move • Aug 19Investor sentiment deteriorated over the past weekAfter last week's 18% share price decline to NT$69.30, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 12x in the Electronic industry in Taiwan. Total returns to shareholders of 143% over the past three years.
Upcoming Dividend • Aug 18Upcoming dividend of NT$2.00 per shareEligible shareholders must have bought the stock before 25 August 2021. Payment date: 23 September 2021. Trailing yield: 2.7%. Lower than top quartile of Taiwanese dividend payers (5.3%). Lower than average of industry peers (3.3%).
Reported Earnings • Aug 03Second quarter 2021 earnings released: EPS NT$1.54 (vs NT$0.62 in 2Q 2020)The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: NT$2.23b (up 48% from 2Q 2020). Net income: NT$388.9m (up 147% from 2Q 2020). Profit margin: 18% (up from 10% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 32% per year, which means it is well ahead of earnings.
Valuation Update With 7 Day Price Move • May 20Investor sentiment improved over the past weekAfter last week's 15% share price gain to NT$78.60, the stock trades at a trailing P/E ratio of 32.1x. Average trailing P/E is 15x in the Electronic industry in Taiwan. Total returns to shareholders of 142% over the past three years.
Reported Earnings • May 08First quarter 2021 earnings released: EPS NT$0.92 (vs NT$0.62 in 1Q 2020)The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$1.83b (up 25% from 1Q 2020). Net income: NT$233.1m (up 49% from 1Q 2020). Profit margin: 13% (up from 11% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has increased by 23% per year, which means it is well ahead of earnings.
Valuation Update With 7 Day Price Move • May 05Investor sentiment deteriorated over the past weekAfter last week's 16% share price decline to NT$67.30, the stock trades at a trailing P/E ratio of 31.4x. Average trailing P/E is 19x in the Electronic industry in Taiwan. Total returns to shareholders of 113% over the past three years.
Reported Earnings • Apr 04Full year 2020 earnings releasedThe company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$6.04b (up 16% from FY 2019). Net income: NT$541.6m (up 37% from FY 2019). Profit margin: 9.0% (up from 7.6% in FY 2019). The increase in margin 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 21% per year, which means it is well ahead of earnings.
Is New 90 Day High Low • Feb 06New 90-day high: NT$57.90The company is up 50% from its price of NT$38.50 on 06 November 2020. The Taiwanese market is up 20% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is up 25% over the same period.
お知らせ • Jan 28Co-Tech Development Corporation, Annual General Meeting, Jun 28, 2021Co-Tech Development Corporation, Annual General Meeting, Jun 28, 2021. Location: Conference Room of Lite-on Building 1F, No. 392, Ruey Kuang Rd, Neihu, Taipei Taipei Guangdong Province Taiwan Agenda: To consider Audit Committee's Review Report of 2020 Financial Statements; to consider Compensation of Employees and Directors for 2020; to consider adoption of 2020 Business Report and Financial Statements; to consider adoption of the Proposal of earning distribution for 2020; to discuss Cash Distribution from Capital Surplus for 2020; and to consider other matters.
Reported Earnings • Jan 28Full year 2020 earnings released: EPS NT$2.14 (vs NT$1.57 in FY 2019)The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$6.04b (up 16% from FY 2019). Net income: NT$541.6m (up 37% from FY 2019). Profit margin: 9.0% (up from 7.6% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings.
Valuation Update With 7 Day Price Move • Dec 28Investor sentiment improved over the past weekAfter last week's 25% share price gain to NT$55.50, the stock is trading at a trailing P/E ratio of 25.2x, up from the previous P/E ratio of 20.2x. This compares to an average P/E of 17x in the Electronic industry in Taiwan. Total returns to shareholders over the past three years are 64%.
Valuation Update With 7 Day Price Move • Dec 24Investor sentiment improved over the past weekAfter last week's 19% share price gain to NT$51.50, the stock is trading at a trailing P/E ratio of 23.4x, up from the previous P/E ratio of 19.7x. This compares to an average P/E of 17x in the Electronic industry in Taiwan. Total returns to shareholders over the past three years are 54%.
Is New 90 Day High Low • Dec 23New 90-day high: NT$48.80The company is up 32% from its price of NT$37.05 on 25 September 2020. The Taiwanese market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is up 12% over the same period.
Reported Earnings • Nov 16Third quarter 2020 earnings released: EPS NT$0.51The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: NT$1.47b (up 6.5% from 3Q 2019). Net income: NT$128.4m (up 41% from 3Q 2019). Profit margin: 8.7% (up from 6.6% in 3Q 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 41% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings.
Is New 90 Day High Low • Nov 12New 90-day high: NT$41.90The company is up 7.0% from its price of NT$39.15 on 14 August 2020. The Taiwanese market is up 4.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is down 1.0% over the same period.
Reported Earnings • Nov 06Third quarter 2020 earnings released: EPS NT$0.51The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: NT$1.47b (up 6.5% from 3Q 2019). Net income: NT$128.4m (up 41% from 3Q 2019). Profit margin: 8.7% (up from 6.6% in 3Q 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 41% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings.