View Future GrowthAOPEN 過去の業績過去 基準チェック /36AOPENは、平均年間26.7%の収益成長を遂げていますが、 Tech業界の収益は、年間 成長しています。収益は、平均年間4.9% 26%収益成長率で 成長しています。 AOPENの自己資本利益率は20.9%であり、純利益率は4.3%です。主要情報26.71%収益成長率24.53%EPS成長率Tech 業界の成長14.00%収益成長率25.95%株主資本利益率20.87%ネット・マージン4.27%前回の決算情報31 Mar 2026最近の業績更新Reported Earnings • May 11First quarter 2026 earnings released: EPS: NT$1.20 (vs NT$1.12 in 1Q 2025)First quarter 2026 results: EPS: NT$1.20 (up from NT$1.12 in 1Q 2025). Revenue: NT$1.82b (up 1.1% from 1Q 2025). Net income: NT$94.0m (up 7.5% from 1Q 2025). Profit margin: 5.2% (up from 4.9% in 1Q 2025). Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings.Reported Earnings • Mar 13Full year 2025 earnings released: EPS: NT$4.01 (vs NT$3.83 in FY 2024)Full year 2025 results: EPS: NT$4.01 (up from NT$3.83 in FY 2024). Revenue: NT$7.51b (up 8.2% from FY 2024). Net income: NT$314.9m (up 4.8% from FY 2024). Profit margin: 4.2% (in line with FY 2024). Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings.Reported Earnings • Nov 08Third quarter 2025 earnings released: EPS: NT$1.42 (vs NT$1.25 in 3Q 2024)Third quarter 2025 results: EPS: NT$1.42 (up from NT$1.25 in 3Q 2024). Revenue: NT$1.99b (down 12% from 3Q 2024). Net income: NT$111.5m (up 13% from 3Q 2024). Profit margin: 5.6% (up from 4.4% in 3Q 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings.Reported Earnings • Aug 08Second quarter 2025 earnings released: EPS: NT$0.80 (vs NT$1.01 in 2Q 2024)Second quarter 2025 results: EPS: NT$0.80 (down from NT$1.01 in 2Q 2024). Revenue: NT$1.77b (down 8.5% from 2Q 2024). Net income: NT$62.4m (down 21% from 2Q 2024). Profit margin: 3.5% (down from 4.1% in 2Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 13% per year whereas the company’s share price has increased by 11% per year.Reported Earnings • May 11First quarter 2025 earnings released: EPS: NT$1.11 (vs NT$0.97 in 1Q 2024)First quarter 2025 results: EPS: NT$1.11 (up from NT$0.97 in 1Q 2024). Revenue: NT$1.80b (up 14% from 1Q 2024). Net income: NT$87.5m (up 14% from 1Q 2024). Profit margin: 4.9% (up from 4.8% in 1Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 17% per year whereas the company’s share price has increased by 16% per year.お知らせ • Apr 30Aopen Inc. to Report Q1, 2025 Results on May 07, 2025Aopen Inc. announced that they will report Q1, 2025 results on May 07, 2025すべての更新を表示Recent updatesReported Earnings • May 11First quarter 2026 earnings released: EPS: NT$1.20 (vs NT$1.12 in 1Q 2025)First quarter 2026 results: EPS: NT$1.20 (up from NT$1.12 in 1Q 2025). Revenue: NT$1.82b (up 1.1% from 1Q 2025). Net income: NT$94.0m (up 7.5% from 1Q 2025). Profit margin: 5.2% (up from 4.9% in 1Q 2025). Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings.Declared Dividend • Mar 14Dividend increased to NT$3.00Dividend of NT$3.00 is 11% higher than last year. Ex-date: 25th June 2026 Payment date: 23rd July 2026 Dividend yield will be 6.3%, which is higher than the industry average of 3.0%. Sustainability & Growth Dividend is covered by both earnings (69% earnings payout ratio) and cash flows (46% cash payout ratio). The dividend has increased by an average of 37% per year over the past 7 years. However, payments have been volatile during that time. Earnings per share has grown by 31% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover.Reported Earnings • Mar 13Full year 2025 earnings released: EPS: NT$4.01 (vs NT$3.83 in FY 2024)Full year 2025 results: EPS: NT$4.01 (up from NT$3.83 in FY 2024). Revenue: NT$7.51b (up 8.2% from FY 2024). Net income: NT$314.9m (up 4.8% from FY 2024). Profit margin: 4.2% (in line with FY 2024). Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings.お知らせ • Mar 13AOPEN Incorporated announces Annual dividend, payable on July 23, 2026AOPEN Incorporated announced Annual dividend of TWD 3.0000 per share payable on July 23, 2026, ex-date on June 25, 2026 and record date on June 28, 2026.お知らせ • Mar 12AOPEN Incorporated, Annual General Meeting, May 26, 2026AOPEN Incorporated, Annual General Meeting, May 26, 2026, at 09:00 Taipei Standard Time. Location: 1 floor no,88, sec.1 hsin t`ai 5th rd., sijhih district, new taipei city TaiwanReported Earnings • Nov 08Third quarter 2025 earnings released: EPS: NT$1.42 (vs NT$1.25 in 3Q 2024)Third quarter 2025 results: EPS: NT$1.42 (up from NT$1.25 in 3Q 2024). Revenue: NT$1.99b (down 12% from 3Q 2024). Net income: NT$111.5m (up 13% from 3Q 2024). Profit margin: 5.6% (up from 4.4% in 3Q 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings.Reported Earnings • Aug 08Second quarter 2025 earnings released: EPS: NT$0.80 (vs NT$1.01 in 2Q 2024)Second quarter 2025 results: EPS: NT$0.80 (down from NT$1.01 in 2Q 2024). Revenue: NT$1.77b (down 8.5% from 2Q 2024). Net income: NT$62.4m (down 21% from 2Q 2024). Profit margin: 3.5% (down from 4.1% in 2Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 13% per year whereas the company’s share price has increased by 11% per year.Upcoming Dividend • Jun 26Upcoming dividend of NT$2.70 per shareEligible shareholders must have bought the stock before 03 July 2025. Payment date: 29 July 2025. Payout ratio is a comfortable 68% and the cash payout ratio is 80%. Trailing yield: 5.3%. Within top quartile of Taiwanese dividend payers (5.3%). Higher than average of industry peers (3.7%).Valuation Update With 7 Day Price Move • Jun 09Investor sentiment improves as stock rises 19%After last week's 19% share price gain to NT$52.30, the stock trades at a trailing P/E ratio of 13.2x. Average trailing P/E is 19x in the Tech industry in Taiwan. Total returns to shareholders of 93% over the past three years.Reported Earnings • May 11First quarter 2025 earnings released: EPS: NT$1.11 (vs NT$0.97 in 1Q 2024)First quarter 2025 results: EPS: NT$1.11 (up from NT$0.97 in 1Q 2024). Revenue: NT$1.80b (up 14% from 1Q 2024). Net income: NT$87.5m (up 14% from 1Q 2024). Profit margin: 4.9% (up from 4.8% in 1Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 17% per year whereas the company’s share price has increased by 16% per year.お知らせ • Apr 30Aopen Inc. to Report Q1, 2025 Results on May 07, 2025Aopen Inc. announced that they will report Q1, 2025 results on May 07, 2025Buy Or Sell Opportunity • Apr 11Now 20% overvaluedOver the last 90 days, the stock has fallen 11% to NT$41.50. The fair value is estimated to be NT$34.57, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 35% over the last 3 years. Earnings per share has grown by 20%.New Risk • Apr 08New minor risk - Market cap sizeThe company's market capitalization is less than US$100m. Market cap: NT$3.15b (US$95.4m) 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 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$3.15b market cap, or US$95.4m).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$40.05, the stock trades at a trailing P/E ratio of 10.5x. Average trailing P/E is 18x in the Tech industry in Taiwan. Total returns to shareholders of 26% over the past three years.Reported Earnings • Mar 19Full year 2024 earnings released: EPS: NT$3.83 (vs NT$3.14 in FY 2023)Full year 2024 results: EPS: NT$3.83 (up from NT$3.14 in FY 2023). Revenue: NT$6.95b (up 23% from FY 2023). Net income: NT$300.5m (up 29% from FY 2023). Profit margin: 4.3% (up from 4.1% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 20% per year whereas the company’s share price has increased by 17% per year.分析記事 • Mar 15Aopen (TWSE:3046) Has Announced That It Will Be Increasing Its Dividend To NT$2.70Aopen Inc. ( TWSE:3046 ) has announced that it will be increasing its periodic dividend on the 29th of July to NT$2.70...Declared Dividend • Mar 14Dividend increased to NT$2.70Dividend of NT$2.70 is 35% higher than last year. Ex-date: 3rd July 2025 Payment date: 29th July 2025 Dividend yield will be 5.0%, which is higher than the industry average of 3.0%. Sustainability & Growth Dividend is covered by both earnings (52% earnings payout ratio) and cash flows (16% cash payout ratio). The dividend has increased by an average of 37% per year over the past 6 years. However, payments have been volatile during that time. Earnings per share has grown by 75% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover.お知らせ • Mar 13+ 1 more updateAopen Inc., Annual General Meeting, May 27, 2025Aopen Inc., Annual General Meeting, May 27, 2025, at 09:00 Taipei Standard Time. Location: 1 floor no,88, sec.1 hsin t`ai 5th rd., sijhih district, new taipei city Taiwanお知らせ • Mar 05Aopen Inc. to Report Fiscal Year 2024 Results on Mar 12, 2025Aopen Inc. announced that they will report fiscal year 2024 results on Mar 12, 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 10Third quarter 2024 earnings released: EPS: NT$1.25 (vs NT$0.94 in 3Q 2023)Third quarter 2024 results: EPS: NT$1.25 (up from NT$0.94 in 3Q 2023). Revenue: NT$2.26b (up 35% from 3Q 2023). Net income: NT$98.3m (up 41% from 3Q 2023). Profit margin: 4.4% (up from 4.2% in 3Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has increased by 32% per year, which means it is tracking significantly ahead of earnings growth.お知らせ • Oct 30Aopen Inc. to Report Q3, 2024 Results on Nov 06, 2024Aopen Inc. announced that they will report Q3, 2024 results on Nov 06, 2024Valuation Update With 7 Day Price Move • Aug 14Investor sentiment improves as stock rises 19%After last week's 19% share price gain to NT$64.00, the stock trades at a trailing P/E ratio of 18.3x. Average trailing P/E is 21x in the Tech industry in Taiwan. Total returns to shareholders of 215% over the past three years.Reported Earnings • Aug 09Second quarter 2024 earnings released: EPS: NT$1.01 (vs NT$0.84 in 2Q 2023)Second quarter 2024 results: EPS: NT$1.01 (up from NT$0.84 in 2Q 2023). Revenue: NT$1.93b (up 25% from 2Q 2023). Net income: NT$79.5m (up 32% from 2Q 2023). Profit margin: 4.1% (up from 3.9% in 2Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has increased by 41% per year, which means it is tracking significantly ahead of earnings growth.分析記事 • Aug 07Aopen (TWSE:3046) Might Have The Makings Of A Multi-BaggerFinding a business that has the potential to grow substantially is not easy, but it is possible if we look at a few key...お知らせ • Jul 31Aopen Inc. to Report Q2, 2024 Results on Aug 07, 2024Aopen Inc. announced that they will report Q2, 2024 results on Aug 07, 2024Upcoming Dividend • Jun 27Upcoming dividend of NT$2.00 per shareEligible shareholders must have bought the stock before 04 July 2024. Payment date: 01 August 2024. Payout ratio is a comfortable 59% and this is well supported by cash flows. Trailing yield: 3.1%. Lower than top quartile of Taiwanese dividend payers (4.2%). Higher than average of industry peers (2.8%).Reported Earnings • May 10First quarter 2024 earnings released: EPS: NT$0.98 (vs NT$0.74 in 1Q 2023)First quarter 2024 results: EPS: NT$0.98 (up from NT$0.74 in 1Q 2023). Revenue: NT$1.58b (up 36% from 1Q 2023). Net income: NT$76.5m (up 45% from 1Q 2023). Profit margin: 4.8% (up from 4.6% in 1Q 2023). The increase in margin was driven by higher revenue. 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 41% per year, which means it is significantly lagging earnings growth.お知らせ • May 02Aopen Inc. to Report Q1, 2024 Results on May 08, 2024Aopen Inc. announced that they will report Q1, 2024 results on May 08, 2024New Risk • Apr 27New minor risk - Profit margin trendThe company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 4.1% Last year net profit margin: 6.0% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (4.1% net profit margin). Shareholders have been diluted in the past year (9.8% increase in shares outstanding).お知らせ • Mar 14+ 1 more updateAopen Inc., Annual General Meeting, May 29, 2024Aopen Inc., Annual General Meeting, May 29, 2024. Location: 1F, No.88, Sec. 1 Xintai 5th Road, Xizhi,New Taipei City Taipei Taiwan Agenda: To consider Business Report for the year 2023; to Report on Execution of Employees' Profit Sharing Bonus Board Directors' Compensation and the Distribution of Cash Dividend for the year 2023; to Audit Committee Report; to Ratification Proposal of the Financial Statements?Business Report and the Proposal for Profit & Loss Appropriation for the year 2023 ; to Approve the Proposal of the Amendments to ”Articles of Incorporation” ; and to consider other matters if any.Reported Earnings • Nov 04Third quarter 2023 earnings released: EPS: NT$0.94 (vs NT$0.66 in 3Q 2022)Third quarter 2023 results: EPS: NT$0.94 (up from NT$0.66 in 3Q 2022). Revenue: NT$1.68b (up 75% from 3Q 2022). Net income: NT$69.6m (up 47% from 3Q 2022). Profit margin: 4.2% (down from 5.0% in 3Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 88% per year but the company’s share price has only increased by 63% per year, which means it is significantly lagging earnings growth.New Risk • Sep 21New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 9.8% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (49% accrual ratio). Minor Risks Dividend is not well covered by cash flows (253% cash payout ratio). Share price has been volatile over the past 3 months (6.8% average weekly change). Shareholders have been diluted in the past year (9.8% increase in shares outstanding).Reported Earnings • Aug 06Second quarter 2023 earnings released: EPS: NT$0.84 (vs NT$0.94 in 2Q 2022)Second quarter 2023 results: EPS: NT$0.84 (down from NT$0.94 in 2Q 2022). Revenue: NT$1.55b (up 77% from 2Q 2022). Net income: NT$60.3m (down 10% from 2Q 2022). Profit margin: 3.9% (down from 7.7% in 2Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 104% per year but the company’s share price has only increased by 58% per year, which means it is significantly lagging earnings growth.New Risk • Jul 19New minor risk - Dividend sustainabilityThe company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 2.1% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (8.3% average weekly change). High level of non-cash earnings (22% accrual ratio). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past.Upcoming Dividend • Jul 12Upcoming dividend of NT$1.50 per share at 2.0% yieldEligible shareholders must have bought the stock before 19 July 2023. Payment date: 22 August 2023. Trailing yield: 2.0%. Lower than top quartile of Taiwanese dividend payers (5.5%). Lower than average of industry peers (3.6%).Valuation Update With 7 Day Price Move • Jul 10Investor sentiment deteriorates as stock falls 15%After last week's 15% share price decline to NT$82.40, the stock trades at a trailing P/E ratio of 24.6x. Average trailing P/E is 19x in the Tech industry in Taiwan. Total returns to shareholders of 385% over the past three years.Valuation Update With 7 Day Price Move • Jun 09Investor sentiment improves as stock rises 15%After last week's 15% share price gain to NT$96.00, the stock trades at a trailing P/E ratio of 28.7x. Average trailing P/E is 17x in the Tech industry in Taiwan. Total returns to shareholders of 567% over the past three years.お知らせ • May 06Aopen Inc. announced that it expects to receive TWD 400 million in funding from Acer IncorporatedAopen Inc. announced a private placement of shares from returning investor Acer Incorporated for gross proceeds of TWD 400,000,000 on May 4, 2023. The transaction was approved by the board of directors of the investor.Reported Earnings • Mar 18Full year 2022 earnings released: EPS: NT$3.03 (vs NT$1.82 in FY 2021)Full year 2022 results: EPS: NT$3.03 (up from NT$1.82 in FY 2021). Revenue: NT$3.33b (up 29% from FY 2021). Net income: NT$216.6m (up 66% from FY 2021). Profit margin: 6.5% (up from 5.1% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 115% per year whereas the company’s share price has increased by 116% per year.Valuation Update With 7 Day Price Move • Mar 08Investor sentiment improves as stock rises 24%After last week's 24% share price gain to NT$64.70, the stock trades at a trailing P/E ratio of 26x. Average trailing P/E is 13x in the Tech industry in Taiwan. Total returns to shareholders of 455% over the past three years.Reported Earnings • Nov 06Third quarter 2022 earnings released: EPS: NT$0.66 (vs NT$1.08 in 3Q 2021)Third quarter 2022 results: EPS: NT$0.66 (down from NT$1.08 in 3Q 2021). Revenue: NT$957.0m (up 29% from 3Q 2021). Net income: NT$47.5m (down 39% from 3Q 2021). Profit margin: 5.0% (down from 10% in 3Q 2021). Over the last 3 years on average, earnings per share has increased by 102% per year but the company’s share price has only increased by 40% per year, which means it is significantly lagging earnings growth.Valuation Update With 7 Day Price Move • Nov 05Investor sentiment improved over the past weekAfter last week's 29% share price gain to NT$57.30, the stock trades at a trailing P/E ratio of 19.7x. Average trailing P/E is 12x in the Tech industry in Taiwan. Total returns to shareholders of 177% over the past three years.Valuation Update With 7 Day Price Move • Oct 21Investor sentiment deteriorated over the past weekAfter last week's 17% share price decline to NT$51.20, the stock trades at a trailing P/E ratio of 17.6x. Average trailing P/E is 12x in the Tech industry in Taiwan. Total returns to shareholders of 150% over the past three years.Valuation Update With 7 Day Price Move • Oct 04Investor sentiment improved over the past weekAfter last week's 31% share price gain to NT$58.30, the stock trades at a trailing P/E ratio of 20.1x. Average trailing P/E is 12x in the Tech industry in Taiwan. Total returns to shareholders of 179% over the past three years.Valuation Update With 7 Day Price Move • Sep 19Investor sentiment improved over the past weekAfter last week's 23% share price gain to NT$40.15, the stock trades at a trailing P/E ratio of 13.8x. Average trailing P/E is 13x in the Tech industry in Taiwan. Total returns to shareholders of 90% over the past three years.Buying Opportunity • Sep 05Now 21% undervaluedOver the last 90 days, the stock is up 19%. The fair value is estimated to be NT$43.24, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 20% over the last 3 years. Meanwhile, the company has become profitable.Reported Earnings • Aug 08Second quarter 2022 earnings released: EPS: NT$0.94 (vs NT$0.16 in 2Q 2021)Second quarter 2022 results: EPS: NT$0.94 (up from NT$0.16 in 2Q 2021). Revenue: NT$877.8m (up 53% from 2Q 2021). Net income: NT$67.3m (up NT$56.1m from 2Q 2021). Profit margin: 7.7% (up from 1.9% in 2Q 2021). Over the last 3 years on average, earnings per share has increased by 83% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth.Valuation Update With 7 Day Price Move • Jul 04Investor sentiment deteriorated over the past weekAfter last week's 17% share price decline to NT$23.00, the stock trades at a trailing P/E ratio of 10.9x. Average trailing P/E is 12x in the Tech industry in Taiwan. Negligible returns to shareholders over past three years.Reported Earnings • May 09First quarter 2022 earnings released: EPS: NT$0.43 (vs NT$0.13 in 1Q 2021)First quarter 2022 results: EPS: NT$0.43 (up from NT$0.13 in 1Q 2021). Revenue: NT$719.0m (up 48% from 1Q 2021). Net income: NT$30.4m (up 228% from 1Q 2021). Profit margin: 4.2% (up from 1.9% in 1Q 2021). Over the last 3 years on average, earnings per share has increased by 55% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth.Valuation Update With 7 Day Price Move • Apr 14Investor sentiment improved over the past weekAfter last week's 25% share price gain to NT$37.95, the stock trades at a trailing P/E ratio of 20.8x. Average trailing P/E is 14x in the Tech industry in Taiwan. Total returns to shareholders of 51% over the past three years.Reported Earnings • Mar 17Full year 2021 earnings: EPS in line with expectations, revenues disappointFull year 2021 results: EPS: NT$1.82 (up from NT$0.93 loss in FY 2020). Revenue: NT$2.57b (up 47% from FY 2020). Net income: NT$130.2m (up NT$196.7m from FY 2020). Profit margin: 5.1% (up from net loss in FY 2020). The move to profitability was driven by higher revenue. Revenue missed analyst estimates by 24%. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth.Valuation Update With 7 Day Price Move • Dec 15Investor sentiment improved over the past weekAfter last week's 17% share price gain to NT$50.60, the stock trades at a trailing P/E ratio of 34.9x. Average trailing P/E is 15x in the Tech industry in Taiwan. Total returns to shareholders of 166% over the past three years.Valuation Update With 7 Day Price Move • Nov 19Investor sentiment improved over the past weekAfter last week's 25% share price gain to NT$30.40, the stock trades at a trailing P/E ratio of 21x. Average trailing P/E is 15x in the Tech industry in Taiwan. Total returns to shareholders of 57% over the past three years.Reported Earnings • Nov 07Third quarter 2021 earnings released: EPS NT$1.08 (vs NT$0.39 loss in 3Q 2020)The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$739.8m (up 41% from 3Q 2020). Net income: NT$77.1m (up NT$104.7m from 3Q 2020). Profit margin: 10% (up from net loss in 3Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 11% per year, which means it is tracking significantly ahead of earnings growth.Reported Earnings • Aug 09Second quarter 2021 earnings released: EPS NT$0.16 (vs NT$0.013 in 2Q 2020)The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: NT$574.7m (up 51% from 2Q 2020). Net income: NT$11.2m (up NT$10.3m from 2Q 2020). Profit margin: 1.9% (up from 0.2% 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 28% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings.Reported Earnings • Mar 19Full year 2020 earnings released: NT$0.93 loss per share (vs NT$2.35 loss in FY 2019)The company reported a solid full year result with reduced losses, improved revenues and improved control over expenses. Full year 2020 results: Revenue: NT$1.76b (up 1.8% from FY 2019). Net loss: NT$66.5m (loss narrowed 60% from FY 2019). Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings.分析記事 • Feb 21Aopen (TPE:3046) Has Debt But No Earnings; Should You Worry?Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...Is New 90 Day High Low • Jan 12New 90-day high: NT$17.25The company is up 11% from its price of NT$15.50 on 14 October 2020. The Taiwanese market is up 19% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Tech industry, which is up 9.0% over the same period.Is New 90 Day High Low • Nov 19New 90-day low: NT$14.05The company is down 13% from its price of NT$16.10 on 21 August 2020. The Taiwanese market is up 11% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Tech industry, which is flat over the same period.Reported Earnings • Nov 14Third quarter 2020 earnings released: NT$0.39 loss per shareThe company reported a soft third quarter result with increased losses and weaker control over expenses, although revenues were improved. Third quarter 2020 results: Revenue: NT$525.5m (up 19% from 3Q 2019). Net loss: NT$27.6m (loss widened NT$24.9m from 3Q 2019). Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings.Is New 90 Day High Low • Oct 29New 90-day low: NT$14.70The company is down 1.0% from its price of NT$14.80 on 31 July 2020. The Taiwanese market is up 1.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Tech industry, which is down 2.0% over the same period.収支内訳AOPEN の稼ぎ方とお金の使い方。LTMベースの直近の報告された収益に基づく。収益と収入の歴史TWSE:3046 収益、費用、利益 ( )TWD Millions日付収益収益G+A経費研究開発費31 Mar 267,5343212513031 Dec 257,5133152502830 Sep 256,7323082482730 Jun 257,0002942512731 Mar 257,1643112492731 Dec 246,9463012432730 Sep 247,0533042392630 Jun 246,4692752312431 Mar 246,0852562262331 Dec 235,6672322272030 Sep 235,1622372281730 Jun 234,4432152201731 Mar 233,7722222241631 Dec 223,3301992211630 Sep 223,3281782211830 Jun 223,1112072222131 Mar 222,8081512402331 Dec 212,5731302662030 Sep 212,3651042911730 Jun 212,150-13211431 Mar 211,957-113331931 Dec 201,756-663643130 Sep 201,551-2454064330 Jun 201,466-2204455031 Mar 201,565-2174775131 Dec 191,725-1684875030 Sep 191,889174885030 Jun 191,949304905831 Mar 191,830264836631 Dec 181,704-134707730 Sep 181,512-554599530 Jun 181,394-554708931 Mar 181,394-944818531 Dec 171,355-1205018530 Sep 171,289-2285068330 Jun 171,247-3054849731 Mar 171,104-36247310631 Dec 161,139-36747310930 Sep 161,341-26148311630 Jun 161,434-20748112031 Mar 161,540-18147413031 Dec 151,563-17945813330 Sep 151,447-23943812230 Jun 151,285-312442124質の高い収益: 3046は 高品質の収益 を持っています。利益率の向上: 3046の現在の純利益率 (4.3%)は、昨年(4.3%)よりも低くなっています。フリー・キャッシュフローと収益の比較過去の収益成長分析収益動向: 3046過去 5 年間で収益を上げており、収益は年間26.7%増加しています。成長の加速: 3046の過去 1 年間の収益成長率 ( 3.2% ) は、5 年間の平均 ( 年間26.7%を下回っています。収益対業界: 3046の過去 1 年間の収益成長率 ( 3.2% ) Tech業界9.6%を上回りませんでした。株主資本利益率高いROE: 3046の 自己資本利益率 ( 20.9% ) は 高い とみなされます。総資産利益率使用総資本利益率過去の好業績企業の発掘7D1Y7D1Y7D1YTech 、過去の業績が好調な企業。View Financial Health企業分析と財務データの現状データ最終更新日（UTC時間）企業分析2026/05/22 17:31終値2026/05/22 00:00収益2026/03/31年間収益2025/12/31データソース企業分析に使用したデータはS&P Global Market Intelligence LLC のものです。本レポートを作成するための分析モデルでは、以下のデータを使用しています。データは正規化されているため、ソースが利用可能になるまでに時間がかかる場合があります。パッケージデータタイムフレーム米国ソース例会社財務10年損益計算書キャッシュ・フロー計算書貸借対照表SECフォーム10-KSECフォーム10-Qアナリストのコンセンサス予想+プラス3年予想財務アナリストの目標株価アナリストリサーチレポートBlue Matrix市場価格30年株価配当、分割、措置ICEマーケットデータSECフォームS-1所有権10年トップ株主インサイダー取引SECフォーム4SECフォーム13Dマネジメント10年リーダーシップ・チーム取締役会SECフォーム10-KSECフォームDEF 14A主な進展10年会社からのお知らせSECフォーム8-K* 米国証券を対象とした例であり、非米国証券については、同等の規制書式および情報源を使用。特に断りのない限り、すべての財務データは1年ごとの期間に基づいていますが、四半期ごとに更新されます。これは、TTM（Trailing Twelve Month）またはLTM（Last Twelve Month）データとして知られています。詳細はこちら。分析モデルとスノーフレーク本レポートを生成するために使用した分析モデルの詳細は当社のGithubページでご覧いただけます。また、レポートの使用方法に関するガイドやYoutubeのチュートリアルも掲載しています。シンプリー・ウォールストリート分析モデルを設計・構築した世界トップクラスのチームについてご紹介します。業界およびセクターの指標私たちの業界とセクションの指標は、Simply Wall Stによって6時間ごとに計算されます。アナリスト筋AOPEN Incorporated 0 これらのアナリストのうち、弊社レポートのインプットとして使用した売上高または利益の予想を提出したのは、 。アナリストの投稿は一日中更新されます。1 アナリスト機関Zongying YuSinoPac Securities Investment Service
Reported Earnings • May 11First quarter 2026 earnings released: EPS: NT$1.20 (vs NT$1.12 in 1Q 2025)First quarter 2026 results: EPS: NT$1.20 (up from NT$1.12 in 1Q 2025). Revenue: NT$1.82b (up 1.1% from 1Q 2025). Net income: NT$94.0m (up 7.5% from 1Q 2025). Profit margin: 5.2% (up from 4.9% in 1Q 2025). Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings.
Reported Earnings • Mar 13Full year 2025 earnings released: EPS: NT$4.01 (vs NT$3.83 in FY 2024)Full year 2025 results: EPS: NT$4.01 (up from NT$3.83 in FY 2024). Revenue: NT$7.51b (up 8.2% from FY 2024). Net income: NT$314.9m (up 4.8% from FY 2024). Profit margin: 4.2% (in line with FY 2024). Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings.
Reported Earnings • Nov 08Third quarter 2025 earnings released: EPS: NT$1.42 (vs NT$1.25 in 3Q 2024)Third quarter 2025 results: EPS: NT$1.42 (up from NT$1.25 in 3Q 2024). Revenue: NT$1.99b (down 12% from 3Q 2024). Net income: NT$111.5m (up 13% from 3Q 2024). Profit margin: 5.6% (up from 4.4% in 3Q 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings.
Reported Earnings • Aug 08Second quarter 2025 earnings released: EPS: NT$0.80 (vs NT$1.01 in 2Q 2024)Second quarter 2025 results: EPS: NT$0.80 (down from NT$1.01 in 2Q 2024). Revenue: NT$1.77b (down 8.5% from 2Q 2024). Net income: NT$62.4m (down 21% from 2Q 2024). Profit margin: 3.5% (down from 4.1% in 2Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 13% per year whereas the company’s share price has increased by 11% per year.
Reported Earnings • May 11First quarter 2025 earnings released: EPS: NT$1.11 (vs NT$0.97 in 1Q 2024)First quarter 2025 results: EPS: NT$1.11 (up from NT$0.97 in 1Q 2024). Revenue: NT$1.80b (up 14% from 1Q 2024). Net income: NT$87.5m (up 14% from 1Q 2024). Profit margin: 4.9% (up from 4.8% in 1Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 17% per year whereas the company’s share price has increased by 16% per year.
お知らせ • Apr 30Aopen Inc. to Report Q1, 2025 Results on May 07, 2025Aopen Inc. announced that they will report Q1, 2025 results on May 07, 2025
Reported Earnings • May 11First quarter 2026 earnings released: EPS: NT$1.20 (vs NT$1.12 in 1Q 2025)First quarter 2026 results: EPS: NT$1.20 (up from NT$1.12 in 1Q 2025). Revenue: NT$1.82b (up 1.1% from 1Q 2025). Net income: NT$94.0m (up 7.5% from 1Q 2025). Profit margin: 5.2% (up from 4.9% in 1Q 2025). Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings.
Declared Dividend • Mar 14Dividend increased to NT$3.00Dividend of NT$3.00 is 11% higher than last year. Ex-date: 25th June 2026 Payment date: 23rd July 2026 Dividend yield will be 6.3%, which is higher than the industry average of 3.0%. Sustainability & Growth Dividend is covered by both earnings (69% earnings payout ratio) and cash flows (46% cash payout ratio). The dividend has increased by an average of 37% per year over the past 7 years. However, payments have been volatile during that time. Earnings per share has grown by 31% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover.
Reported Earnings • Mar 13Full year 2025 earnings released: EPS: NT$4.01 (vs NT$3.83 in FY 2024)Full year 2025 results: EPS: NT$4.01 (up from NT$3.83 in FY 2024). Revenue: NT$7.51b (up 8.2% from FY 2024). Net income: NT$314.9m (up 4.8% from FY 2024). Profit margin: 4.2% (in line with FY 2024). Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings.
お知らせ • Mar 13AOPEN Incorporated announces Annual dividend, payable on July 23, 2026AOPEN Incorporated announced Annual dividend of TWD 3.0000 per share payable on July 23, 2026, ex-date on June 25, 2026 and record date on June 28, 2026.
お知らせ • Mar 12AOPEN Incorporated, Annual General Meeting, May 26, 2026AOPEN Incorporated, Annual General Meeting, May 26, 2026, at 09:00 Taipei Standard Time. Location: 1 floor no,88, sec.1 hsin t`ai 5th rd., sijhih district, new taipei city Taiwan
Reported Earnings • Nov 08Third quarter 2025 earnings released: EPS: NT$1.42 (vs NT$1.25 in 3Q 2024)Third quarter 2025 results: EPS: NT$1.42 (up from NT$1.25 in 3Q 2024). Revenue: NT$1.99b (down 12% from 3Q 2024). Net income: NT$111.5m (up 13% from 3Q 2024). Profit margin: 5.6% (up from 4.4% in 3Q 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings.
Reported Earnings • Aug 08Second quarter 2025 earnings released: EPS: NT$0.80 (vs NT$1.01 in 2Q 2024)Second quarter 2025 results: EPS: NT$0.80 (down from NT$1.01 in 2Q 2024). Revenue: NT$1.77b (down 8.5% from 2Q 2024). Net income: NT$62.4m (down 21% from 2Q 2024). Profit margin: 3.5% (down from 4.1% in 2Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 13% per year whereas the company’s share price has increased by 11% per year.
Upcoming Dividend • Jun 26Upcoming dividend of NT$2.70 per shareEligible shareholders must have bought the stock before 03 July 2025. Payment date: 29 July 2025. Payout ratio is a comfortable 68% and the cash payout ratio is 80%. Trailing yield: 5.3%. Within top quartile of Taiwanese dividend payers (5.3%). Higher than average of industry peers (3.7%).
Valuation Update With 7 Day Price Move • Jun 09Investor sentiment improves as stock rises 19%After last week's 19% share price gain to NT$52.30, the stock trades at a trailing P/E ratio of 13.2x. Average trailing P/E is 19x in the Tech industry in Taiwan. Total returns to shareholders of 93% over the past three years.
Reported Earnings • May 11First quarter 2025 earnings released: EPS: NT$1.11 (vs NT$0.97 in 1Q 2024)First quarter 2025 results: EPS: NT$1.11 (up from NT$0.97 in 1Q 2024). Revenue: NT$1.80b (up 14% from 1Q 2024). Net income: NT$87.5m (up 14% from 1Q 2024). Profit margin: 4.9% (up from 4.8% in 1Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 17% per year whereas the company’s share price has increased by 16% per year.
お知らせ • Apr 30Aopen Inc. to Report Q1, 2025 Results on May 07, 2025Aopen Inc. announced that they will report Q1, 2025 results on May 07, 2025
Buy Or Sell Opportunity • Apr 11Now 20% overvaluedOver the last 90 days, the stock has fallen 11% to NT$41.50. The fair value is estimated to be NT$34.57, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 35% over the last 3 years. Earnings per share has grown by 20%.
New Risk • Apr 08New minor risk - Market cap sizeThe company's market capitalization is less than US$100m. Market cap: NT$3.15b (US$95.4m) 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 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$3.15b market cap, or US$95.4m).
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$40.05, the stock trades at a trailing P/E ratio of 10.5x. Average trailing P/E is 18x in the Tech industry in Taiwan. Total returns to shareholders of 26% over the past three years.
Reported Earnings • Mar 19Full year 2024 earnings released: EPS: NT$3.83 (vs NT$3.14 in FY 2023)Full year 2024 results: EPS: NT$3.83 (up from NT$3.14 in FY 2023). Revenue: NT$6.95b (up 23% from FY 2023). Net income: NT$300.5m (up 29% from FY 2023). Profit margin: 4.3% (up from 4.1% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 20% per year whereas the company’s share price has increased by 17% per year.
分析記事 • Mar 15Aopen (TWSE:3046) Has Announced That It Will Be Increasing Its Dividend To NT$2.70Aopen Inc. ( TWSE:3046 ) has announced that it will be increasing its periodic dividend on the 29th of July to NT$2.70...
Declared Dividend • Mar 14Dividend increased to NT$2.70Dividend of NT$2.70 is 35% higher than last year. Ex-date: 3rd July 2025 Payment date: 29th July 2025 Dividend yield will be 5.0%, which is higher than the industry average of 3.0%. Sustainability & Growth Dividend is covered by both earnings (52% earnings payout ratio) and cash flows (16% cash payout ratio). The dividend has increased by an average of 37% per year over the past 6 years. However, payments have been volatile during that time. Earnings per share has grown by 75% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover.
お知らせ • Mar 13+ 1 more updateAopen Inc., Annual General Meeting, May 27, 2025Aopen Inc., Annual General Meeting, May 27, 2025, at 09:00 Taipei Standard Time. Location: 1 floor no,88, sec.1 hsin t`ai 5th rd., sijhih district, new taipei city Taiwan
お知らせ • Mar 05Aopen Inc. to Report Fiscal Year 2024 Results on Mar 12, 2025Aopen Inc. announced that they will report fiscal year 2024 results on Mar 12, 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 10Third quarter 2024 earnings released: EPS: NT$1.25 (vs NT$0.94 in 3Q 2023)Third quarter 2024 results: EPS: NT$1.25 (up from NT$0.94 in 3Q 2023). Revenue: NT$2.26b (up 35% from 3Q 2023). Net income: NT$98.3m (up 41% from 3Q 2023). Profit margin: 4.4% (up from 4.2% in 3Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has increased by 32% per year, which means it is tracking significantly ahead of earnings growth.
お知らせ • Oct 30Aopen Inc. to Report Q3, 2024 Results on Nov 06, 2024Aopen Inc. announced that they will report Q3, 2024 results on Nov 06, 2024
Valuation Update With 7 Day Price Move • Aug 14Investor sentiment improves as stock rises 19%After last week's 19% share price gain to NT$64.00, the stock trades at a trailing P/E ratio of 18.3x. Average trailing P/E is 21x in the Tech industry in Taiwan. Total returns to shareholders of 215% over the past three years.
Reported Earnings • Aug 09Second quarter 2024 earnings released: EPS: NT$1.01 (vs NT$0.84 in 2Q 2023)Second quarter 2024 results: EPS: NT$1.01 (up from NT$0.84 in 2Q 2023). Revenue: NT$1.93b (up 25% from 2Q 2023). Net income: NT$79.5m (up 32% from 2Q 2023). Profit margin: 4.1% (up from 3.9% in 2Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has increased by 41% per year, which means it is tracking significantly ahead of earnings growth.
分析記事 • Aug 07Aopen (TWSE:3046) Might Have The Makings Of A Multi-BaggerFinding a business that has the potential to grow substantially is not easy, but it is possible if we look at a few key...
お知らせ • Jul 31Aopen Inc. to Report Q2, 2024 Results on Aug 07, 2024Aopen Inc. announced that they will report Q2, 2024 results on Aug 07, 2024
Upcoming Dividend • Jun 27Upcoming dividend of NT$2.00 per shareEligible shareholders must have bought the stock before 04 July 2024. Payment date: 01 August 2024. Payout ratio is a comfortable 59% and this is well supported by cash flows. Trailing yield: 3.1%. Lower than top quartile of Taiwanese dividend payers (4.2%). Higher than average of industry peers (2.8%).
Reported Earnings • May 10First quarter 2024 earnings released: EPS: NT$0.98 (vs NT$0.74 in 1Q 2023)First quarter 2024 results: EPS: NT$0.98 (up from NT$0.74 in 1Q 2023). Revenue: NT$1.58b (up 36% from 1Q 2023). Net income: NT$76.5m (up 45% from 1Q 2023). Profit margin: 4.8% (up from 4.6% in 1Q 2023). The increase in margin was driven by higher revenue. 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 41% per year, which means it is significantly lagging earnings growth.
お知らせ • May 02Aopen Inc. to Report Q1, 2024 Results on May 08, 2024Aopen Inc. announced that they will report Q1, 2024 results on May 08, 2024
New Risk • Apr 27New minor risk - Profit margin trendThe company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 4.1% Last year net profit margin: 6.0% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (4.1% net profit margin). Shareholders have been diluted in the past year (9.8% increase in shares outstanding).
お知らせ • Mar 14+ 1 more updateAopen Inc., Annual General Meeting, May 29, 2024Aopen Inc., Annual General Meeting, May 29, 2024. Location: 1F, No.88, Sec. 1 Xintai 5th Road, Xizhi,New Taipei City Taipei Taiwan Agenda: To consider Business Report for the year 2023; to Report on Execution of Employees' Profit Sharing Bonus Board Directors' Compensation and the Distribution of Cash Dividend for the year 2023; to Audit Committee Report; to Ratification Proposal of the Financial Statements?Business Report and the Proposal for Profit & Loss Appropriation for the year 2023 ; to Approve the Proposal of the Amendments to ”Articles of Incorporation” ; and to consider other matters if any.
Reported Earnings • Nov 04Third quarter 2023 earnings released: EPS: NT$0.94 (vs NT$0.66 in 3Q 2022)Third quarter 2023 results: EPS: NT$0.94 (up from NT$0.66 in 3Q 2022). Revenue: NT$1.68b (up 75% from 3Q 2022). Net income: NT$69.6m (up 47% from 3Q 2022). Profit margin: 4.2% (down from 5.0% in 3Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 88% per year but the company’s share price has only increased by 63% per year, which means it is significantly lagging earnings growth.
New Risk • Sep 21New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 9.8% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (49% accrual ratio). Minor Risks Dividend is not well covered by cash flows (253% cash payout ratio). Share price has been volatile over the past 3 months (6.8% average weekly change). Shareholders have been diluted in the past year (9.8% increase in shares outstanding).
Reported Earnings • Aug 06Second quarter 2023 earnings released: EPS: NT$0.84 (vs NT$0.94 in 2Q 2022)Second quarter 2023 results: EPS: NT$0.84 (down from NT$0.94 in 2Q 2022). Revenue: NT$1.55b (up 77% from 2Q 2022). Net income: NT$60.3m (down 10% from 2Q 2022). Profit margin: 3.9% (down from 7.7% in 2Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 104% per year but the company’s share price has only increased by 58% per year, which means it is significantly lagging earnings growth.
New Risk • Jul 19New minor risk - Dividend sustainabilityThe company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 2.1% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (8.3% average weekly change). High level of non-cash earnings (22% accrual ratio). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past.
Upcoming Dividend • Jul 12Upcoming dividend of NT$1.50 per share at 2.0% yieldEligible shareholders must have bought the stock before 19 July 2023. Payment date: 22 August 2023. Trailing yield: 2.0%. Lower than top quartile of Taiwanese dividend payers (5.5%). Lower than average of industry peers (3.6%).
Valuation Update With 7 Day Price Move • Jul 10Investor sentiment deteriorates as stock falls 15%After last week's 15% share price decline to NT$82.40, the stock trades at a trailing P/E ratio of 24.6x. Average trailing P/E is 19x in the Tech industry in Taiwan. Total returns to shareholders of 385% over the past three years.
Valuation Update With 7 Day Price Move • Jun 09Investor sentiment improves as stock rises 15%After last week's 15% share price gain to NT$96.00, the stock trades at a trailing P/E ratio of 28.7x. Average trailing P/E is 17x in the Tech industry in Taiwan. Total returns to shareholders of 567% over the past three years.
お知らせ • May 06Aopen Inc. announced that it expects to receive TWD 400 million in funding from Acer IncorporatedAopen Inc. announced a private placement of shares from returning investor Acer Incorporated for gross proceeds of TWD 400,000,000 on May 4, 2023. The transaction was approved by the board of directors of the investor.
Reported Earnings • Mar 18Full year 2022 earnings released: EPS: NT$3.03 (vs NT$1.82 in FY 2021)Full year 2022 results: EPS: NT$3.03 (up from NT$1.82 in FY 2021). Revenue: NT$3.33b (up 29% from FY 2021). Net income: NT$216.6m (up 66% from FY 2021). Profit margin: 6.5% (up from 5.1% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 115% per year whereas the company’s share price has increased by 116% per year.
Valuation Update With 7 Day Price Move • Mar 08Investor sentiment improves as stock rises 24%After last week's 24% share price gain to NT$64.70, the stock trades at a trailing P/E ratio of 26x. Average trailing P/E is 13x in the Tech industry in Taiwan. Total returns to shareholders of 455% over the past three years.
Reported Earnings • Nov 06Third quarter 2022 earnings released: EPS: NT$0.66 (vs NT$1.08 in 3Q 2021)Third quarter 2022 results: EPS: NT$0.66 (down from NT$1.08 in 3Q 2021). Revenue: NT$957.0m (up 29% from 3Q 2021). Net income: NT$47.5m (down 39% from 3Q 2021). Profit margin: 5.0% (down from 10% in 3Q 2021). Over the last 3 years on average, earnings per share has increased by 102% per year but the company’s share price has only increased by 40% per year, which means it is significantly lagging earnings growth.
Valuation Update With 7 Day Price Move • Nov 05Investor sentiment improved over the past weekAfter last week's 29% share price gain to NT$57.30, the stock trades at a trailing P/E ratio of 19.7x. Average trailing P/E is 12x in the Tech industry in Taiwan. Total returns to shareholders of 177% over the past three years.
Valuation Update With 7 Day Price Move • Oct 21Investor sentiment deteriorated over the past weekAfter last week's 17% share price decline to NT$51.20, the stock trades at a trailing P/E ratio of 17.6x. Average trailing P/E is 12x in the Tech industry in Taiwan. Total returns to shareholders of 150% over the past three years.
Valuation Update With 7 Day Price Move • Oct 04Investor sentiment improved over the past weekAfter last week's 31% share price gain to NT$58.30, the stock trades at a trailing P/E ratio of 20.1x. Average trailing P/E is 12x in the Tech industry in Taiwan. Total returns to shareholders of 179% over the past three years.
Valuation Update With 7 Day Price Move • Sep 19Investor sentiment improved over the past weekAfter last week's 23% share price gain to NT$40.15, the stock trades at a trailing P/E ratio of 13.8x. Average trailing P/E is 13x in the Tech industry in Taiwan. Total returns to shareholders of 90% over the past three years.
Buying Opportunity • Sep 05Now 21% undervaluedOver the last 90 days, the stock is up 19%. The fair value is estimated to be NT$43.24, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 20% over the last 3 years. Meanwhile, the company has become profitable.
Reported Earnings • Aug 08Second quarter 2022 earnings released: EPS: NT$0.94 (vs NT$0.16 in 2Q 2021)Second quarter 2022 results: EPS: NT$0.94 (up from NT$0.16 in 2Q 2021). Revenue: NT$877.8m (up 53% from 2Q 2021). Net income: NT$67.3m (up NT$56.1m from 2Q 2021). Profit margin: 7.7% (up from 1.9% in 2Q 2021). Over the last 3 years on average, earnings per share has increased by 83% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth.
Valuation Update With 7 Day Price Move • Jul 04Investor sentiment deteriorated over the past weekAfter last week's 17% share price decline to NT$23.00, the stock trades at a trailing P/E ratio of 10.9x. Average trailing P/E is 12x in the Tech industry in Taiwan. Negligible returns to shareholders over past three years.
Reported Earnings • May 09First quarter 2022 earnings released: EPS: NT$0.43 (vs NT$0.13 in 1Q 2021)First quarter 2022 results: EPS: NT$0.43 (up from NT$0.13 in 1Q 2021). Revenue: NT$719.0m (up 48% from 1Q 2021). Net income: NT$30.4m (up 228% from 1Q 2021). Profit margin: 4.2% (up from 1.9% in 1Q 2021). Over the last 3 years on average, earnings per share has increased by 55% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth.
Valuation Update With 7 Day Price Move • Apr 14Investor sentiment improved over the past weekAfter last week's 25% share price gain to NT$37.95, the stock trades at a trailing P/E ratio of 20.8x. Average trailing P/E is 14x in the Tech industry in Taiwan. Total returns to shareholders of 51% over the past three years.
Reported Earnings • Mar 17Full year 2021 earnings: EPS in line with expectations, revenues disappointFull year 2021 results: EPS: NT$1.82 (up from NT$0.93 loss in FY 2020). Revenue: NT$2.57b (up 47% from FY 2020). Net income: NT$130.2m (up NT$196.7m from FY 2020). Profit margin: 5.1% (up from net loss in FY 2020). The move to profitability was driven by higher revenue. Revenue missed analyst estimates by 24%. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth.
Valuation Update With 7 Day Price Move • Dec 15Investor sentiment improved over the past weekAfter last week's 17% share price gain to NT$50.60, the stock trades at a trailing P/E ratio of 34.9x. Average trailing P/E is 15x in the Tech industry in Taiwan. Total returns to shareholders of 166% over the past three years.
Valuation Update With 7 Day Price Move • Nov 19Investor sentiment improved over the past weekAfter last week's 25% share price gain to NT$30.40, the stock trades at a trailing P/E ratio of 21x. Average trailing P/E is 15x in the Tech industry in Taiwan. Total returns to shareholders of 57% over the past three years.
Reported Earnings • Nov 07Third quarter 2021 earnings released: EPS NT$1.08 (vs NT$0.39 loss in 3Q 2020)The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$739.8m (up 41% from 3Q 2020). Net income: NT$77.1m (up NT$104.7m from 3Q 2020). Profit margin: 10% (up from net loss in 3Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 11% per year, which means it is tracking significantly ahead of earnings growth.
Reported Earnings • Aug 09Second quarter 2021 earnings released: EPS NT$0.16 (vs NT$0.013 in 2Q 2020)The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: NT$574.7m (up 51% from 2Q 2020). Net income: NT$11.2m (up NT$10.3m from 2Q 2020). Profit margin: 1.9% (up from 0.2% 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 28% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings.
Reported Earnings • Mar 19Full year 2020 earnings released: NT$0.93 loss per share (vs NT$2.35 loss in FY 2019)The company reported a solid full year result with reduced losses, improved revenues and improved control over expenses. Full year 2020 results: Revenue: NT$1.76b (up 1.8% from FY 2019). Net loss: NT$66.5m (loss narrowed 60% from FY 2019). Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings.
分析記事 • Feb 21Aopen (TPE:3046) Has Debt But No Earnings; Should You Worry?Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...
Is New 90 Day High Low • Jan 12New 90-day high: NT$17.25The company is up 11% from its price of NT$15.50 on 14 October 2020. The Taiwanese market is up 19% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Tech industry, which is up 9.0% over the same period.
Is New 90 Day High Low • Nov 19New 90-day low: NT$14.05The company is down 13% from its price of NT$16.10 on 21 August 2020. The Taiwanese market is up 11% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Tech industry, which is flat over the same period.
Reported Earnings • Nov 14Third quarter 2020 earnings released: NT$0.39 loss per shareThe company reported a soft third quarter result with increased losses and weaker control over expenses, although revenues were improved. Third quarter 2020 results: Revenue: NT$525.5m (up 19% from 3Q 2019). Net loss: NT$27.6m (loss widened NT$24.9m from 3Q 2019). Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings.
Is New 90 Day High Low • Oct 29New 90-day low: NT$14.70The company is down 1.0% from its price of NT$14.80 on 31 July 2020. The Taiwanese market is up 1.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Tech industry, which is down 2.0% over the same period.