WPG Holdings（3702）株式概要WPGホールディングスは電子・電気部品、コンピュータ・ソフトウェア、電気製品を台湾、中国本土、および国際的に流通・販売している。 詳細3702 ファンダメンタル分析スノーフレーク・スコア評価5/6将来の成長3/6過去の実績4/6財務の健全性2/6配当金5/6報酬当社が推定した公正価値より41.5%で取引されている 収益は年間30.42%増加すると予測されています 過去1年間で収益は41.5%増加しました 2.82%の安定した配当金を支払う 同業他社や業界と比較して、良好な取引価格 リスク分析利払いは収益で十分にカバーされない すべてのリスクチェックを見る3702 Community Fair Values Create NarrativeSee what others think this stock is worth. Follow their fair value or set your own to get alerts.Your Fair ValueNT$Current PriceNT$113.502.5% 割高 内在価値ディスカウントGrowth estimate overAnnual revenue growth rate5 Yearstime period%/yrDecreaseIncreasePastFuture02t2016201920222025202620282031Revenue NT$1.6tEarnings NT$15.1bAdvancedSet Fair ValueView all narrativesWPG Holdings Limited 競合他社Synnex Technology InternationalSymbol: TWSE:2347Market cap: NT$137.1bWT MicroelectronicsSymbol: TWSE:3036Market cap: NT$304.3bScientechSymbol: TWSE:3583Market cap: NT$63.3bSupreme ElectronicsSymbol: TWSE:8112Market cap: NT$46.6b価格と性能株価の高値、安値、推移の概要WPG Holdings過去の株価現在の株価NT$113.5052週高値NT$113.5052週安値NT$56.60ベータ-0.0421ヶ月の変化24.32%3ヶ月変化80.16%1年変化66.42%3年間の変化128.60%5年間の変化134.75%IPOからの変化1,191.05%最新ニュースお知らせ • Apr 02WPG Holdings Limited, Annual General Meeting, Jun 30, 2026WPG Holdings Limited, Annual General Meeting, Jun 30, 2026, at 09:00 Taipei Standard Time. Location: 8 floor no,11, chung shan s. rd., jhongjheng district, taipei city TaiwanValuation Update With 7 Day Price Move • Mar 19Investor sentiment improves as stock rises 25%After last week's 25% share price gain to NT$92.20, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 20x in the Electronic industry in Taiwan. Total returns to shareholders of 121% over the past three years.Major Estimate Revision • Mar 19Consensus EPS estimates increase by 41%The consensus outlook for fiscal year 2026 has been updated. 2026 EPS estimate increased from NT$6.11 to NT$8.63. Revenue forecast steady at NT$1.08t. Net income forecast to grow 58% next year vs 26% growth forecast for Electronic industry in Taiwan. Consensus price target up from NT$68.00 to NT$95.00. Share price rose 25% to NT$92.20 over the past week.Price Target Changed • Mar 16Price target increased by 19% to NT$79.00Up from NT$66.33, the current price target is an average from 3 analysts. New target price is approximately in line with last closing price of NT$81.90. Stock is up 25% over the past year. The company is forecast to post earnings per share of NT$8.54 for next year compared to NT$5.77 last year.Reported Earnings • Mar 14Full year 2025 earnings: Revenues exceed analysts expectations while EPS lags behindFull year 2025 results: EPS: NT$5.77 (up from NT$4.07 in FY 2024). Revenue: NT$999.1b (up 14% from FY 2024). Net income: NT$10.1b (up 48% from FY 2024). Profit margin: 1.0% (up from 0.8% in FY 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 3.6%. Earnings per share (EPS) missed analyst estimates by 11%. Revenue is forecast to grow 4.2% 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 2% per year but the company’s share price has increased by 16% per year, which means it is tracking significantly ahead of earnings growth.Price Target Changed • Dec 16Price target decreased by 13% to NT$64.67Down from NT$74.75, the current price target is an average from 3 analysts. New target price is 6.4% above last closing price of NT$60.80. Stock is down 11% over the past year. The company is forecast to post earnings per share of NT$5.22 for next year compared to NT$4.07 last year.最新情報をもっと見るRecent updatesお知らせ • Apr 02WPG Holdings Limited, Annual General Meeting, Jun 30, 2026WPG Holdings Limited, Annual General Meeting, Jun 30, 2026, at 09:00 Taipei Standard Time. Location: 8 floor no,11, chung shan s. rd., jhongjheng district, taipei city TaiwanValuation Update With 7 Day Price Move • Mar 19Investor sentiment improves as stock rises 25%After last week's 25% share price gain to NT$92.20, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 20x in the Electronic industry in Taiwan. Total returns to shareholders of 121% over the past three years.Major Estimate Revision • Mar 19Consensus EPS estimates increase by 41%The consensus outlook for fiscal year 2026 has been updated. 2026 EPS estimate increased from NT$6.11 to NT$8.63. Revenue forecast steady at NT$1.08t. Net income forecast to grow 58% next year vs 26% growth forecast for Electronic industry in Taiwan. Consensus price target up from NT$68.00 to NT$95.00. Share price rose 25% to NT$92.20 over the past week.Price Target Changed • Mar 16Price target increased by 19% to NT$79.00Up from NT$66.33, the current price target is an average from 3 analysts. New target price is approximately in line with last closing price of NT$81.90. Stock is up 25% over the past year. The company is forecast to post earnings per share of NT$8.54 for next year compared to NT$5.77 last year.Reported Earnings • Mar 14Full year 2025 earnings: Revenues exceed analysts expectations while EPS lags behindFull year 2025 results: EPS: NT$5.77 (up from NT$4.07 in FY 2024). Revenue: NT$999.1b (up 14% from FY 2024). Net income: NT$10.1b (up 48% from FY 2024). Profit margin: 1.0% (up from 0.8% in FY 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 3.6%. Earnings per share (EPS) missed analyst estimates by 11%. Revenue is forecast to grow 4.2% 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 2% per year but the company’s share price has increased by 16% per year, which means it is tracking significantly ahead of earnings growth.Price Target Changed • Dec 16Price target decreased by 13% to NT$64.67Down from NT$74.75, the current price target is an average from 3 analysts. New target price is 6.4% above last closing price of NT$60.80. Stock is down 11% over the past year. The company is forecast to post earnings per share of NT$5.22 for next year compared to NT$4.07 last year.New Risk • Nov 14New minor risk - Dividend sustainabilityThe dividend is not well covered by cash flows. The company is paying a dividend despite having no free cash flows. Dividend yield: 4.8% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. 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 Interest payments are not well covered by earnings (2.2x net interest cover). Minor Risk Paying a dividend despite having no free cash flows.Price Target Changed • Nov 10Price target decreased by 9.2% to NT$70.25Down from NT$77.33, the current price target is an average from 4 analysts. New target price is 15% above last closing price of NT$61.30. Stock is down 19% over the past year. The company is forecast to post earnings per share of NT$5.37 for next year compared to NT$4.07 last year.Reported Earnings • Aug 15Second quarter 2025 earnings: Revenues exceed analysts expectations while EPS lags behindSecond quarter 2025 results: EPS: NT$1.05 (up from NT$0.73 in 2Q 2024). Revenue: NT$250.5b (up 20% from 2Q 2024). Net income: NT$1.76b (up 43% from 2Q 2024). Profit margin: 0.7% (up from 0.6% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 9.9%. Earnings per share (EPS) missed analyst estimates by 18%. Revenue is forecast to stay flat during the next 3 years compared to a 12% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings.Upcoming Dividend • Jul 17Upcoming dividend of NT$3.20 per shareEligible shareholders must have bought the stock before 24 July 2025. Payment date: 21 August 2025. Payout ratio is on the higher end at 79%, however this is supported by cash flows. Trailing yield: 4.8%. Lower than top quartile of Taiwanese dividend payers (5.3%). Higher than average of industry peers (3.0%).Buy Or Sell Opportunity • Jul 04Now 23% undervaluedOver the last 90 days, the stock has risen 10% to NT$70.50. The fair value is estimated to be NT$91.66, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.6% over the last 3 years. Earnings per share has declined by 17%.Declared Dividend • Jun 26Dividend reduced to NT$3.20Dividend of NT$3.20 is 8.6% lower than last year. Ex-date: 24th July 2025 Payment date: 21st August 2025 Dividend yield will be 4.7%, which is higher than the industry average of 4.0%. Sustainability & Growth Dividend is covered by earnings (79% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 2.5% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 43% over the next year, which should provide support to the dividend and adequate earnings cover.Reported Earnings • May 15First quarter 2025 earnings: EPS and revenues miss analyst expectationsFirst quarter 2025 results: EPS: NT$1.13 (down from NT$1.16 in 1Q 2024). Revenue: NT$248.8b (up 37% from 1Q 2024). Net income: NT$1.90b (down 2.6% from 1Q 2024). Profit margin: 0.8% (down from 1.1% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 76%. Earnings per share (EPS) also missed analyst estimates by 82%. Revenue is forecast to grow 10.0% 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 17% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings.お知らせ • May 06WPG Holdings Limited to Report Q1, 2025 Results on May 13, 2025WPG Holdings Limited announced that they will report Q1, 2025 results on May 13, 2025お知らせ • Apr 25WPG Holdings Limited (TWSE:3702) completed the acquisition of 47.67% stake in Fortune Information Systems Corp (TWSE:2468) for approximately TWD 830 million.WPG Holdings Limited (TWSE:3702) proposed to acquire 51% stake in Fortune Information Systems Corp (TWSE:2468) for approximately TWD 890 million in a tender offer transaction on February 28, 2025. The transaction is subject to approval of Financial Supervisory Commission. The deal is subject to minimum tender. WPG Holdings Limited will fund the acquisition using its own funds. A special committee was formed for the tender offer. The transaction is expected to complete on April 23, 2025. As of April 14, 2025, all conditions to the Tender Offer have been fulfilled. Chao-An Tsai of PWC Legal acted as Legal advisor to WPG holdings limited. WPG Holdings Limited (TWSE:3702) completed the acquisition of 47.67% stake in Fortune Information Systems Corp (TWSE:2468) for approximately TWD 830 million on April 23, 2025.お知らせ • Apr 11WPG Holdings Limited Proposes Cash Dividend for the Year Ended December 31, 2024WPG Holdings Limited Board of Directors proposed dividend distribution of TWD 3.2 per Ordinary Shares for the Period which dividends belong to: January 01, 2024 to December 31, 2024. Total amount of cash distributed to shareholders: TWD 5,372,981,866.Valuation Update With 7 Day Price Move • Apr 09Investor sentiment deteriorates as stock falls 18%After last week's 18% share price decline to NT$52.60, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 12x in the Electronic industry in Taiwan. Total returns to shareholders of 11% over the past three years.Price Target Changed • Mar 25Price target decreased by 8.7% to NT$84.25Down from NT$92.30, the current price target is an average from 4 analysts. New target price is 30% above last closing price of NT$65.00. Stock is down 28% over the past year. The company is forecast to post earnings per share of NT$6.44 for next year compared to NT$4.07 last year.New Risk • Mar 19New minor risk - Profit margin trendThe company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 0.8% Last year net profit margin: 1.1% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.0x net interest cover). Earnings are forecast to decline by an average of 4.2% per year for the foreseeable future. Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (0.8% net profit margin).お知らせ • Mar 04WPG Holdings Limited, Annual General Meeting, May 28, 2025WPG Holdings Limited, Annual General Meeting, May 28, 2025, at 09:00 Taipei Standard Time. Location: 3 floor building. a no,166, ching mao 2nd rd., nangang district, taipei city TaiwanReported Earnings • Mar 03Full year 2024 earnings: EPS misses analyst expectationsFull year 2024 results: EPS: NT$4.07 (down from NT$4.59 in FY 2023). Revenue: NT$880.6b (up 31% from FY 2023). Net income: NT$7.25b (down 6.0% from FY 2023). Profit margin: 0.8% (down from 1.1% in FY 2023). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 8.2%. Revenue is forecast to grow 12% 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 fallen by 17% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings.お知らせ • Feb 21WPG Holdings Limited to Report Fiscal Year 2024 Results on Feb 28, 2025WPG Holdings Limited announced that they will report fiscal year 2024 results on Feb 28, 2025お知らせ • Dec 26Wpg Holdings Limited Announces Committee AppointmentsWPG Holdings Limited Board of Directors approved the establishment of Nominating Committee and appointment of the committee members. Name of the new position holder: Jack J. T. Huang; Simon Huang; Kathy Yang; Joseph Yu; Mike Chang. Resume of the New Position Holder: Jack J. T. Huang: independent Director of Wpg Holdings Limited; Simon Huang: chairman of Wpg Holdings Limited; Kathy Yang: independent Director of Wpg Holdings Limited; Joseph Yu: independent Director of Wpg Holdings Limited; Mike Chang: director and CEO of Wpg Holdings Limited. Effective date of the new member: December 24, 2024.New Risk • Dec 19New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 10% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.0x net interest cover). Earnings are forecast to decline by an average of 10% per year for the foreseeable future. Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results.New Risk • Nov 20New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 10% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.0x net interest cover). Earnings are forecast to decline by an average of 10% per year for the foreseeable future. Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results.Reported Earnings • Nov 15Third quarter 2024 earnings: Revenues exceed analysts expectations while EPS lags behindThird quarter 2024 results: EPS: NT$1.22 (up from NT$0.95 in 3Q 2023). Revenue: NT$259.1b (up 38% from 3Q 2023). Net income: NT$2.04b (up 28% from 3Q 2023). Profit margin: 0.8% (in line with 3Q 2023). Revenue exceeded analyst estimates by 16%. Earnings per share (EPS) missed analyst estimates by 1.2%. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has increased by 14% per year, which means it is well ahead of earnings.お知らせ • Nov 05WPG Holdings Limited to Report Q3, 2024 Results on Nov 12, 2024WPG Holdings Limited announced that they will report Q3, 2024 results on Nov 12, 2024Major Estimate Revision • Aug 21Consensus EPS estimates increase by 11%The consensus outlook for earnings per share (EPS) in fiscal year 2024 has improved. 2024 revenue forecast increased from NT$775.2b to NT$839.5b. EPS estimate increased from NT$4.28 to NT$4.73 per share. Net income forecast to shrink 19% next year vs 20% growth forecast for Electronic industry in Taiwan . Consensus price target broadly unchanged at NT$90.63. Share price fell 4.8% to NT$81.40 over the past week.New Risk • Aug 14New major risk - Earnings qualityThe company has a high level of non-cash earnings. Accrual ratio: 20% 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 Risks Interest payments are not well covered by earnings (2.1x net interest cover). Earnings are forecast to decline by an average of 13% per year for the foreseeable future. High level of non-cash earnings (20% accrual ratio). Minor Risk Paying a dividend despite having no free cash flows.Reported Earnings • Aug 14Second quarter 2024 earnings: Revenues exceed analysts expectations while EPS lags behindSecond quarter 2024 results: EPS: NT$0.73 (down from NT$1.14 in 2Q 2023). Revenue: NT$208.0b (up 33% from 2Q 2023). Net income: NT$1.63b (down 15% from 2Q 2023). Profit margin: 0.8% (down from 1.2% in 2Q 2023). Revenue exceeded analyst estimates by 21%. Earnings per share (EPS) missed analyst estimates by 7.0%. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has increased by 22% per year, which means it is well ahead of earnings.お知らせ • Aug 06WPG Holdings Limited to Report Q2, 2024 Results on Aug 13, 2024WPG Holdings Limited announced that they will report Q2, 2024 results on Aug 13, 2024Declared Dividend • Jul 11Dividend reduced to NT$3.50Dividend of NT$3.50 is 9.1% lower than last year. Ex-date: 25th July 2024 Payment date: 21st August 2024 Dividend yield will be 3.8%, which is lower than the industry average of 4.0%. Sustainability & Growth Dividend is covered by earnings (65% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 3.0% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 68% over the next 3 years, which should provide support to the dividend and adequate earnings cover.お知らせ • Jul 10WPG Holdings Limited Announces Cash Dividend, Payable on August 21, 2024WPG Holdings Limited announced Ordinary shares cash dividends TWD 5,876,698,916; TWD 3.5 per share. Ex-rights (ex-dividend) trading date is July 25, 2024; Ex-rights (ex-dividend) record date is July 31, 2024; Payment date of common stock cash dividend distribution is August 21, 2024.Reported Earnings • May 11First quarter 2024 earnings: EPS and revenues exceed analyst expectationsFirst quarter 2024 results: EPS: NT$1.16 (up from NT$0.41 in 1Q 2023). Revenue: NT$181.9b (up 26% from 1Q 2023). Net income: NT$1.95b (up 185% from 1Q 2023). Profit margin: 1.1% (up from 0.5% in 1Q 2023). Revenue exceeded analyst estimates by 8.0%. Earnings per share (EPS) also surpassed analyst estimates by 72%. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 24% per year, which means it is well ahead of earnings.お知らせ • May 01WPG Holdings Limited to Report Q1, 2024 Results on May 09, 2024WPG Holdings Limited announced that they will report Q1, 2024 results on May 09, 2024お知らせ • Apr 11WPG Holdings Limited Proposes Cash Dividend for the Year Ended December 31, 2023WPG Holdings Limited's board of directors proposed a distribution of appropriations of earnings in cash dividend of TWD 3.5 per share for the year ended December 31, 2023. Total amount of cash distributed to shareholders is TWD 5,876,698,916. The date of the board of directors’ resolution is April 10, 2024.New Risk • Mar 15New 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 6.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.9x net interest cover). Earnings are forecast to decline by an average of 6.5% per year for the foreseeable future. Minor Risks Dividend is not well covered by earnings (115% payout ratio). Share price has been volatile over the past 3 months (6.1% average weekly change). Large one-off items impacting financial results.Major Estimate Revision • Mar 14Consensus EPS estimates increase by 23%The consensus outlook for earnings per share (EPS) in fiscal year 2024 has improved. 2024 revenue forecast increased from NT$717.7b to NT$760.7b. EPS estimate increased from NT$3.75 to NT$4.60 per share. Net income forecast to shrink 29% next year vs 31% growth forecast for Electronic industry in Taiwan . Consensus price target up from NT$59.90 to NT$73.98. Share price fell 11% to NT$85.70 over the past week.Reported Earnings • Mar 04Full year 2023 earnings: EPS exceeds analyst expectations while revenues lag behindFull year 2023 results: EPS: NT$4.59 (down from NT$6.02 in FY 2022). Revenue: NT$671.9b (down 13% from FY 2022). Net income: NT$7.71b (down 24% from FY 2022). Profit margin: 1.1% (down from 1.3% in FY 2022). Revenue missed analyst estimates by 1.5%. Earnings per share (EPS) exceeded analyst estimates by 3.2%. Revenue is forecast to grow 7.4% 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 increased by 24% per year, which means it is well ahead of earnings.お知らせ • Mar 01WPG Holdings Limited, Annual General Meeting, May 24, 2024WPG Holdings Limited, Annual General Meeting, May 24, 2024. Location: Conference Hall, 8F., No. 11, Zhongshan S. Rd., Zhongzheng Dist., Taipei City Taiwan Agenda: To consider and approve 2023 Business Report; Audit Committee's Review Report; 2023 employees' and directors' compensation; 2023 Directors' Remuneration Report; and to discuss other matters.お知らせ • Dec 29WPG Holdings Limited Announces Change of Chief Information Security Officer, Effective January 1, 2024WPG Holdings Limited announced the change of Chief Information Security Officer. Name, title, and resume of the previous position holder: Jazz Chuang, Vice President of WPG Holdings Limited. Name, title, and resume of the new position holder: Mike Chang, Chief Executive Officer of WPG Holdings Limited. Effective date is January 1, 2024.Price Target Changed • Nov 17Price target increased by 11% to NT$52.50Up from NT$47.50, the current price target is an average from 4 analysts. New target price is 26% below last closing price of NT$71.20. Stock is up 55% over the past year. The company is forecast to post earnings per share of NT$4.84 for next year compared to NT$6.02 last year.Reported Earnings • Nov 15Third quarter 2023 earnings: EPS and revenues exceed analyst expectationsThird quarter 2023 results: EPS: NT$0.95 (down from NT$1.65 in 3Q 2022). Revenue: NT$187.4b (down 1.3% from 3Q 2022). Net income: NT$1.59b (down 42% from 3Q 2022). Profit margin: 0.8% (down from 1.5% in 3Q 2022). Revenue exceeded analyst estimates by 12%. Earnings per share (EPS) also surpassed analyst estimates by 30%. Revenue is forecast to grow 7.5% p.a. on average during the next 3 years, compared to a 9.3% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 20% per year, which means it is well ahead of earnings.お知らせ • Oct 14WPG Holdings Limited Announces Chief Marketing & Sales Officer ChangesWPG Holdings Limited announced that IJ Hsu, Chief Marketing & Sales Officer, Global Business Group CEO and Chief Global Business Officer, passed away on October 12, 2023. The company announced the appointment of Mike Chang as Chief Marketing & Sales Officer, effective October 13, 2023. Mike Chang is Chief Executive Officer of the company.お知らせ • Sep 15Wpg Holdings Limited Announces Not to Distribute Dividends for the Second Quarter of 2023WPG Holdings Limited announced not to distribute dividends for the second quarter of 2023 profit.Major Estimate Revision • Aug 23Consensus EPS estimates fall by 10%The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from NT$654.9b to NT$646.3b. EPS estimate also fell from NT$3.43 per share to NT$3.08 per share. Net income forecast to shrink 2.6% next year vs 5.2% growth forecast for Electronic industry in Taiwan . Consensus price target up from NT$45.93 to NT$47.18. Share price rose 5.7% to NT$55.50 over the past week.Reported Earnings • Aug 12Second quarter 2023 earnings: EPS and revenues exceed analyst expectationsSecond quarter 2023 results: EPS: NT$1.14 (down from NT$1.49 in 2Q 2022). Revenue: NT$156.7b (down 21% from 2Q 2022). Net income: NT$2.32b (down 7.2% from 2Q 2022). Profit margin: 1.5% (up from 1.3% in 2Q 2022). The increase in margin was driven by lower expenses. Revenue exceeded analyst estimates by 3.6%. Earnings per share (EPS) also surpassed analyst estimates by 10%. Revenue is forecast to grow 5.1% p.a. on average during the next 3 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 4% per year whereas the company’s share price has increased by 8% per year.Valuation Update With 7 Day Price Move • Jul 25Investor sentiment deteriorates as stock falls 15%After last week's 15% share price decline to NT$50.10, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 16x in the Electronic industry in Taiwan. Total returns to shareholders of 48% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$26.77 per share.Upcoming Dividend • Jul 18Upcoming dividend of NT$3.85 per share at 6.6% yieldEligible shareholders must have bought the stock before 25 July 2023. Payment date: 21 August 2023. Payout ratio is on the higher end at 88%, however this is supported by cash flows. Trailing yield: 6.6%. Within top quartile of Taiwanese dividend payers (5.4%). Higher than average of industry peers (4.1%).お知らせ • Jul 12WPG Holdings Limited Announces Ordinary Cash Dividend, Payable on August 21, 2023WPG Holdings Limited announced ordinary shares cash dividend of TWD 6,464,368,807 and TWD 3.85 per share. Ex-rights (ex-dividend) trading date: July 25, 2023. Ex-rights (ex-dividend) record date: July 31, 2023. Payment date of cash dividend distribution: August 21, 2023. Date of the resolution by the board of directors or shareholders meeting or decision by the company: July 10, 2023.お知らせ • Jun 01+ 1 more updateWPG Holdings Limited Approves Board ElectionsWPG Holdings Limited at its 2023 Annual Shareholders' Meeting held on May 31, 2023, approved the election of Simon Huang, K.D. Tseng, Frank Yeh, Mike Chang as Directors and Jack J. T. Huang and Joseph Yu as Independent Directors.Major Estimate Revision • May 23Consensus EPS estimates fall by 12%The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from NT$690.9b to NT$625.6b. EPS estimate also fell from NT$3.46 per share to NT$3.06 per share. Net income forecast to shrink 11% next year vs 6.6% decline forecast for Electronic industry in Taiwan. Consensus price target of NT$42.67 unchanged from last update. Share price rose 3.8% to NT$52.20 over the past week.Major Estimate Revision • Mar 09Consensus EPS estimates fall by 20%The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from NT$747.0b to NT$690.9b. EPS estimate also fell from NT$4.33 per share to NT$3.46 per share. Net income forecast to shrink 40% next year vs 3.9% growth forecast for Electronic industry in Taiwan . Consensus price target of NT$42.67 unchanged from last update. Share price was steady at NT$49.75 over the past week.Reported Earnings • Mar 03Full year 2022 earnings: EPS misses analyst expectationsFull year 2022 results: EPS: NT$6.02 (down from NT$6.61 in FY 2021). Revenue: NT$775.2b (flat on FY 2021). Net income: NT$10.5b (down 5.3% from FY 2021). Profit margin: 1.4% (in line with FY 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 4.6%. Revenue is expected to decline by 1.0% p.a. on average during the next 2 years, while revenues in the Electronic industry in Taiwan are expected to grow by 6.1%. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth.Price Target Changed • Dec 08Price target decreased to NT$46.33Down from NT$52.00, the current price target is an average from 3 analysts. New target price is approximately in line with last closing price of NT$47.75. Stock is down 4.9% over the past year. The company is forecast to post earnings per share of NT$6.29 for next year compared to NT$6.61 last year.Reported Earnings • Nov 16Third quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behindThird quarter 2022 results: EPS: NT$1.65 (down from NT$1.90 in 3Q 2021). Revenue: NT$189.8b (down 6.0% from 3Q 2021). Net income: NT$2.76b (down 13% from 3Q 2021). Profit margin: 1.5% (down from 1.6% in 3Q 2021). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 17%. Earnings per share (EPS) exceeded analyst estimates by 17%. Revenue is expected to decline by 9.3% p.a. on average during the next 3 years, while revenues in the Electronic industry in Taiwan are expected to grow by 7.1%. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth.Board Change • Nov 16Less than half of directors are independentFollowing the recent departure of a director, there are only 5 independent directors on the board. The company's board is composed of: 5 independent directors. 6 non-independent directors. Independent Director Kathy Yang was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.Reported Earnings • Nov 13Third quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behindThird quarter 2022 results: EPS: NT$1.64 (down from NT$1.90 in 3Q 2021). Revenue: NT$189.8b (down 6.0% from 3Q 2021). Net income: NT$2.76b (down 13% from 3Q 2021). Profit margin: 1.5% (down from 1.6% in 3Q 2021). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 17%. Earnings per share (EPS) exceeded analyst estimates by 17%. Revenue is expected to decline by 9.3% p.a. on average during the next 3 years, while revenues in the Electronic industry in Taiwan are expected to grow by 7.2%. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth.Buying Opportunity • Sep 28Now 21% undervalued after recent price dropOver the last 90 days, the stock is down 16%. The fair value is estimated to be NT$58.11, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Earnings per share has grown by 25%.Reported Earnings • Aug 13Second quarter 2022 earnings: EPS and revenues miss analyst expectationsSecond quarter 2022 results: EPS: NT$1.49. Revenue: NT$199.1b (flat on 2Q 2021). Net income: NT$2.90b (up 3.9% from 2Q 2021). Profit margin: 1.5% (up from 1.4% in 2Q 2021). Revenue missed analyst estimates by 2.1%. Earnings per share (EPS) also missed analyst estimates by 5.4%. Over the next year, revenue is expected to shrink by 2.2% compared to a 8.6% growth forecast for the industry in Taiwan.Upcoming Dividend • Jul 12Upcoming dividend of NT$3.50 per shareEligible shareholders must have bought the stock before 19 July 2022. Payment date: 15 August 2022. Payout ratio is a comfortable 48% but the company is not cash flow positive. Trailing yield: 6.8%. Within top quartile of Taiwanese dividend payers (6.7%). Higher than average of industry peers (4.9%).Reported Earnings • May 13First quarter 2022 earnings: EPS and revenues exceed analyst expectationsFirst quarter 2022 results: EPS: NT$2.05 (up from NT$1.44 in 1Q 2021). Revenue: NT$209.9b (up 19% from 1Q 2021). Net income: NT$3.44b (up 42% from 1Q 2021). Profit margin: 1.6% (up from 1.4% in 1Q 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.2%. Earnings per share (EPS) also surpassed analyst estimates by 58%. Over the next year, revenue is expected to shrink by 3.3% compared to a 9.8% growth forecast for the industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth.Reported Earnings • Mar 03Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behindFull year 2021 results: EPS: NT$6.61 (up from NT$4.77 in FY 2020). Revenue: NT$778.6b (up 28% from FY 2020). Net income: NT$11.5b (up 44% from FY 2020). Profit margin: 1.5% (up from 1.3% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.2%. Earnings per share (EPS) missed analyst estimates by 1.2%. Over the next year, revenue is expected to shrink by 2.8% compared to a 9.2% growth forecast for the industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 19% per year whereas the company’s share price has increased by 14% per year.Reported Earnings • Nov 15Third quarter 2021 earnings released: EPS NT$1.90 (vs NT$1.34 in 3Q 2020)The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$201.9b (up 19% from 3Q 2020). Net income: NT$3.19b (up 41% from 3Q 2020). Profit margin: 1.6% (up from 1.3% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 15% per year whereas the company’s share price has increased by 12% per year.Price Target Changed • Aug 17Price target increased to NT$46.00Up from NT$42.50, the current price target is an average from 2 analysts. New target price is approximately in line with last closing price of NT$47.60. Stock is up 17% over the past year.Reported Earnings • Aug 15Second quarter 2021 earnings released: EPS NT$1.90 (vs NT$1.19 in 2Q 2020)The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: NT$200.2b (up 34% from 2Q 2020). Net income: NT$3.19b (up 59% from 2Q 2020). Profit margin: 1.6% (up from 1.3% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 9% per year whereas the company’s share price has increased by 4% per year.Upcoming Dividend • Aug 04Upcoming dividend of NT$3.10 per shareEligible shareholders must have bought the stock before 11 August 2021. Payment date: 31 August 2021. Trailing yield: 5.6%. Within top quartile of Taiwanese dividend payers (5.0%). Higher than average of industry peers (3.0%).Price Target Changed • Jul 02Price target decreased to NT$42.50Down from NT$48.17, the current price target is provided by 1 analyst. New target price is 17% below last closing price of NT$51.10. Stock is up 25% over the past year.Reported Earnings • May 15First quarter 2021 earnings released: EPS NT$1.49 (vs NT$0.99 in 1Q 2020)The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$177.1b (up 35% from 1Q 2020). Net income: NT$2.49b (up 50% from 1Q 2020). Profit margin: 1.4% (up from 1.3% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has increased by 2% per year.Major Estimate Revision • Apr 10Consensus EPS estimates increase to NT$5.40The consensus outlook for earnings per share (EPS) in 2021 has improved. 2021 revenue forecast increased from NT$649.4b to NT$673.7b. EPS estimate increased from NT$4.73 to NT$5.40 per share. Net income forecast to grow 1.2% next year vs 26% growth forecast for Electronic industry in Taiwan. Consensus price target broadly unchanged at NT$48.17. Share price fell 3.8% to NT$46.95 over the past week.Reported Earnings • Apr 01Full year 2020 earnings released: EPS NT$4.77 (vs NT$3.84 in FY 2019)The company reported a solid full year result with improved earnings and revenues, although profit margins were flat. Full year 2020 results: Revenue: NT$609.9b (up 16% from FY 2019). Net income: NT$8.12b (up 26% from FY 2019). Profit margin: 1.3% (in line with FY 2019). Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 6% per year, which means it is well ahead of earnings.Is New 90 Day High Low • Mar 02New 90-day high: NT$45.90The company is up 10.0% from its price of NT$41.60 on 02 December 2020. The Taiwanese market is up 14% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 19% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is NT$37.91 per share.Is New 90 Day High Low • Jan 25New 90-day high: NT$45.60The company is up 15% from its price of NT$39.50 on 27 October 2020. The Taiwanese market is up 23% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 27% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is NT$38.22 per share.Is New 90 Day High Low • Jan 07New 90-day high: NT$43.30The company is up 9.0% from its price of NT$39.75 on 08 October 2020. The Taiwanese market is up 16% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 20% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is NT$38.09 per share.株主還元3702TW ElectronicTW 市場7D12.4%4.6%6.7%1Y66.4%187.5%98.2%株主還元を見る業界別リターン: 3702過去 1 年間で187.5 % の収益を上げたTW Electronic業界を下回りました。リターン対市場: 3702は、過去 1 年間で98.2 % のリターンを上げたTW市場を下回りました。価格変動Is 3702's price volatile compared to industry and market?3702 volatility3702 Average Weekly Movement7.0%Electronic Industry Average Movement8.1%Market Average Movement6.0%10% most volatile stocks in TW Market12.2%10% least volatile stocks in TW Market2.5%安定した株価: 3702 、 TW市場と比較して、過去 3 か月間で大きな価格変動はありませんでした。時間の経過による変動: 3702の 週次ボラティリティ ( 7% ) は過去 1 年間安定しています。会社概要設立従業員CEO（最高経営責任者ウェブサイト1980n/aMike Changwww.wpgholdings.comWPGホールディングスは、台湾、中国本土、および海外で電子・電気部品、コンピューターソフトウェア、電気製品を流通・販売している。アナログIC、ディスクリートIC、ロジックIC、メモリー、ミックスドシグナルコンポーネント、光コンポーネント、磁気コンポーネント、パッシブコネクターなどを提供している。また、倉庫サービス、投資活動、電子部品の貿易、輸出入、事務用機械器具の販売、コンピュータおよび周辺機器の製造、eコマース・プラットフォームと子供向け屋内遊園地の運営も行っている。同社は1980年に設立され、本社は台湾の台北市にある。もっと見るWPG Holdings Limited 基礎のまとめWPG Holdings の収益と売上を時価総額と比較するとどうか。3702 基礎統計学時価総額NT$190.57b収益（TTM）NT$9.68b売上高(TTM)NT$999.11b19.7xPER（株価収益率0.2xP/Sレシオ3702 は割高か？公正価値と評価分析を参照収益と収入最新の決算報告書（TTM）に基づく主な収益性統計3702 損益計算書（TTM）収益NT$999.11b売上原価NT$959.57b売上総利益NT$39.54bその他の費用NT$29.86b収益NT$9.68b直近の収益報告Dec 31, 2025次回決算日該当なし一株当たり利益（EPS）5.77グロス・マージン3.96%純利益率0.97%有利子負債／自己資本比率176.6%3702 の長期的なパフォーマンスは？過去の実績と比較を見る配当金2.8%現在の配当利回り64%配当性向View Valuation企業分析と財務データの現状データ最終更新日（UTC時間）企業分析2026/05/09 17:11終値2026/05/08 00:00収益2025/12/31年間収益2025/12/31データソース企業分析に使用したデータはS&P Global Market Intelligence LLC のものです。本レポートを作成するための分析モデルでは、以下のデータを使用しています。データは正規化されているため、ソースが利用可能になるまでに時間がかかる場合があります。パッケージデータタイムフレーム米国ソース例会社財務10年損益計算書キャッシュ・フロー計算書貸借対照表SECフォーム10-KSECフォーム10-Qアナリストのコンセンサス予想+プラス3年予想財務アナリストの目標株価アナリストリサーチレポートBlue Matrix市場価格30年株価配当、分割、措置ICEマーケットデータSECフォームS-1所有権10年トップ株主インサイダー取引SECフォーム4SECフォーム13Dマネジメント10年リーダーシップ・チーム取締役会SECフォーム10-KSECフォームDEF 14A主な進展10年会社からのお知らせSECフォーム8-K* 米国証券を対象とした例であり、非米国証券については、同等の規制書式および情報源を使用。特に断りのない限り、すべての財務データは1年ごとの期間に基づいていますが、四半期ごとに更新されます。これは、TTM（Trailing Twelve Month）またはLTM（Last Twelve Month）データとして知られています。詳細はこちら。分析モデルとスノーフレーク本レポートを生成するために使用した分析モデルの詳細は当社のGithubページでご覧いただけます。また、レポートの使用方法に関するガイドやYoutubeのチュートリアルも掲載しています。シンプリー・ウォールストリート分析モデルを設計・構築した世界トップクラスのチームについてご紹介します。業界およびセクターの指標私たちの業界とセクションの指標は、Simply Wall Stによって6時間ごとに計算されます。アナリスト筋WPG Holdings Limited 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。13 アナリスト機関Chi-Yuan ChenCapital Securities CorporationJack LuCGS InternationalJames McCaffertyCGS International10 その他のアナリストを表示
お知らせ • Apr 02WPG Holdings Limited, Annual General Meeting, Jun 30, 2026WPG Holdings Limited, Annual General Meeting, Jun 30, 2026, at 09:00 Taipei Standard Time. Location: 8 floor no,11, chung shan s. rd., jhongjheng district, taipei city Taiwan
Valuation Update With 7 Day Price Move • Mar 19Investor sentiment improves as stock rises 25%After last week's 25% share price gain to NT$92.20, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 20x in the Electronic industry in Taiwan. Total returns to shareholders of 121% over the past three years.
Major Estimate Revision • Mar 19Consensus EPS estimates increase by 41%The consensus outlook for fiscal year 2026 has been updated. 2026 EPS estimate increased from NT$6.11 to NT$8.63. Revenue forecast steady at NT$1.08t. Net income forecast to grow 58% next year vs 26% growth forecast for Electronic industry in Taiwan. Consensus price target up from NT$68.00 to NT$95.00. Share price rose 25% to NT$92.20 over the past week.
Price Target Changed • Mar 16Price target increased by 19% to NT$79.00Up from NT$66.33, the current price target is an average from 3 analysts. New target price is approximately in line with last closing price of NT$81.90. Stock is up 25% over the past year. The company is forecast to post earnings per share of NT$8.54 for next year compared to NT$5.77 last year.
Reported Earnings • Mar 14Full year 2025 earnings: Revenues exceed analysts expectations while EPS lags behindFull year 2025 results: EPS: NT$5.77 (up from NT$4.07 in FY 2024). Revenue: NT$999.1b (up 14% from FY 2024). Net income: NT$10.1b (up 48% from FY 2024). Profit margin: 1.0% (up from 0.8% in FY 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 3.6%. Earnings per share (EPS) missed analyst estimates by 11%. Revenue is forecast to grow 4.2% 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 2% per year but the company’s share price has increased by 16% per year, which means it is tracking significantly ahead of earnings growth.
Price Target Changed • Dec 16Price target decreased by 13% to NT$64.67Down from NT$74.75, the current price target is an average from 3 analysts. New target price is 6.4% above last closing price of NT$60.80. Stock is down 11% over the past year. The company is forecast to post earnings per share of NT$5.22 for next year compared to NT$4.07 last year.
お知らせ • Apr 02WPG Holdings Limited, Annual General Meeting, Jun 30, 2026WPG Holdings Limited, Annual General Meeting, Jun 30, 2026, at 09:00 Taipei Standard Time. Location: 8 floor no,11, chung shan s. rd., jhongjheng district, taipei city Taiwan
Valuation Update With 7 Day Price Move • Mar 19Investor sentiment improves as stock rises 25%After last week's 25% share price gain to NT$92.20, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 20x in the Electronic industry in Taiwan. Total returns to shareholders of 121% over the past three years.
Major Estimate Revision • Mar 19Consensus EPS estimates increase by 41%The consensus outlook for fiscal year 2026 has been updated. 2026 EPS estimate increased from NT$6.11 to NT$8.63. Revenue forecast steady at NT$1.08t. Net income forecast to grow 58% next year vs 26% growth forecast for Electronic industry in Taiwan. Consensus price target up from NT$68.00 to NT$95.00. Share price rose 25% to NT$92.20 over the past week.
Price Target Changed • Mar 16Price target increased by 19% to NT$79.00Up from NT$66.33, the current price target is an average from 3 analysts. New target price is approximately in line with last closing price of NT$81.90. Stock is up 25% over the past year. The company is forecast to post earnings per share of NT$8.54 for next year compared to NT$5.77 last year.
Reported Earnings • Mar 14Full year 2025 earnings: Revenues exceed analysts expectations while EPS lags behindFull year 2025 results: EPS: NT$5.77 (up from NT$4.07 in FY 2024). Revenue: NT$999.1b (up 14% from FY 2024). Net income: NT$10.1b (up 48% from FY 2024). Profit margin: 1.0% (up from 0.8% in FY 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 3.6%. Earnings per share (EPS) missed analyst estimates by 11%. Revenue is forecast to grow 4.2% 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 2% per year but the company’s share price has increased by 16% per year, which means it is tracking significantly ahead of earnings growth.
Price Target Changed • Dec 16Price target decreased by 13% to NT$64.67Down from NT$74.75, the current price target is an average from 3 analysts. New target price is 6.4% above last closing price of NT$60.80. Stock is down 11% over the past year. The company is forecast to post earnings per share of NT$5.22 for next year compared to NT$4.07 last year.
New Risk • Nov 14New minor risk - Dividend sustainabilityThe dividend is not well covered by cash flows. The company is paying a dividend despite having no free cash flows. Dividend yield: 4.8% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. 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 Interest payments are not well covered by earnings (2.2x net interest cover). Minor Risk Paying a dividend despite having no free cash flows.
Price Target Changed • Nov 10Price target decreased by 9.2% to NT$70.25Down from NT$77.33, the current price target is an average from 4 analysts. New target price is 15% above last closing price of NT$61.30. Stock is down 19% over the past year. The company is forecast to post earnings per share of NT$5.37 for next year compared to NT$4.07 last year.
Reported Earnings • Aug 15Second quarter 2025 earnings: Revenues exceed analysts expectations while EPS lags behindSecond quarter 2025 results: EPS: NT$1.05 (up from NT$0.73 in 2Q 2024). Revenue: NT$250.5b (up 20% from 2Q 2024). Net income: NT$1.76b (up 43% from 2Q 2024). Profit margin: 0.7% (up from 0.6% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 9.9%. Earnings per share (EPS) missed analyst estimates by 18%. Revenue is forecast to stay flat during the next 3 years compared to a 12% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings.
Upcoming Dividend • Jul 17Upcoming dividend of NT$3.20 per shareEligible shareholders must have bought the stock before 24 July 2025. Payment date: 21 August 2025. Payout ratio is on the higher end at 79%, however this is supported by cash flows. Trailing yield: 4.8%. Lower than top quartile of Taiwanese dividend payers (5.3%). Higher than average of industry peers (3.0%).
Buy Or Sell Opportunity • Jul 04Now 23% undervaluedOver the last 90 days, the stock has risen 10% to NT$70.50. The fair value is estimated to be NT$91.66, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.6% over the last 3 years. Earnings per share has declined by 17%.
Declared Dividend • Jun 26Dividend reduced to NT$3.20Dividend of NT$3.20 is 8.6% lower than last year. Ex-date: 24th July 2025 Payment date: 21st August 2025 Dividend yield will be 4.7%, which is higher than the industry average of 4.0%. Sustainability & Growth Dividend is covered by earnings (79% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 2.5% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 43% over the next year, which should provide support to the dividend and adequate earnings cover.
Reported Earnings • May 15First quarter 2025 earnings: EPS and revenues miss analyst expectationsFirst quarter 2025 results: EPS: NT$1.13 (down from NT$1.16 in 1Q 2024). Revenue: NT$248.8b (up 37% from 1Q 2024). Net income: NT$1.90b (down 2.6% from 1Q 2024). Profit margin: 0.8% (down from 1.1% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 76%. Earnings per share (EPS) also missed analyst estimates by 82%. Revenue is forecast to grow 10.0% 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 17% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings.
お知らせ • May 06WPG Holdings Limited to Report Q1, 2025 Results on May 13, 2025WPG Holdings Limited announced that they will report Q1, 2025 results on May 13, 2025
お知らせ • Apr 25WPG Holdings Limited (TWSE:3702) completed the acquisition of 47.67% stake in Fortune Information Systems Corp (TWSE:2468) for approximately TWD 830 million.WPG Holdings Limited (TWSE:3702) proposed to acquire 51% stake in Fortune Information Systems Corp (TWSE:2468) for approximately TWD 890 million in a tender offer transaction on February 28, 2025. The transaction is subject to approval of Financial Supervisory Commission. The deal is subject to minimum tender. WPG Holdings Limited will fund the acquisition using its own funds. A special committee was formed for the tender offer. The transaction is expected to complete on April 23, 2025. As of April 14, 2025, all conditions to the Tender Offer have been fulfilled. Chao-An Tsai of PWC Legal acted as Legal advisor to WPG holdings limited. WPG Holdings Limited (TWSE:3702) completed the acquisition of 47.67% stake in Fortune Information Systems Corp (TWSE:2468) for approximately TWD 830 million on April 23, 2025.
お知らせ • Apr 11WPG Holdings Limited Proposes Cash Dividend for the Year Ended December 31, 2024WPG Holdings Limited Board of Directors proposed dividend distribution of TWD 3.2 per Ordinary Shares for the Period which dividends belong to: January 01, 2024 to December 31, 2024. Total amount of cash distributed to shareholders: TWD 5,372,981,866.
Valuation Update With 7 Day Price Move • Apr 09Investor sentiment deteriorates as stock falls 18%After last week's 18% share price decline to NT$52.60, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 12x in the Electronic industry in Taiwan. Total returns to shareholders of 11% over the past three years.
Price Target Changed • Mar 25Price target decreased by 8.7% to NT$84.25Down from NT$92.30, the current price target is an average from 4 analysts. New target price is 30% above last closing price of NT$65.00. Stock is down 28% over the past year. The company is forecast to post earnings per share of NT$6.44 for next year compared to NT$4.07 last year.
New Risk • Mar 19New minor risk - Profit margin trendThe company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 0.8% Last year net profit margin: 1.1% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.0x net interest cover). Earnings are forecast to decline by an average of 4.2% per year for the foreseeable future. Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (0.8% net profit margin).
お知らせ • Mar 04WPG Holdings Limited, Annual General Meeting, May 28, 2025WPG Holdings Limited, Annual General Meeting, May 28, 2025, at 09:00 Taipei Standard Time. Location: 3 floor building. a no,166, ching mao 2nd rd., nangang district, taipei city Taiwan
Reported Earnings • Mar 03Full year 2024 earnings: EPS misses analyst expectationsFull year 2024 results: EPS: NT$4.07 (down from NT$4.59 in FY 2023). Revenue: NT$880.6b (up 31% from FY 2023). Net income: NT$7.25b (down 6.0% from FY 2023). Profit margin: 0.8% (down from 1.1% in FY 2023). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 8.2%. Revenue is forecast to grow 12% 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 fallen by 17% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings.
お知らせ • Feb 21WPG Holdings Limited to Report Fiscal Year 2024 Results on Feb 28, 2025WPG Holdings Limited announced that they will report fiscal year 2024 results on Feb 28, 2025
お知らせ • Dec 26Wpg Holdings Limited Announces Committee AppointmentsWPG Holdings Limited Board of Directors approved the establishment of Nominating Committee and appointment of the committee members. Name of the new position holder: Jack J. T. Huang; Simon Huang; Kathy Yang; Joseph Yu; Mike Chang. Resume of the New Position Holder: Jack J. T. Huang: independent Director of Wpg Holdings Limited; Simon Huang: chairman of Wpg Holdings Limited; Kathy Yang: independent Director of Wpg Holdings Limited; Joseph Yu: independent Director of Wpg Holdings Limited; Mike Chang: director and CEO of Wpg Holdings Limited. Effective date of the new member: December 24, 2024.
New Risk • Dec 19New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 10% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.0x net interest cover). Earnings are forecast to decline by an average of 10% per year for the foreseeable future. Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results.
New Risk • Nov 20New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 10% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.0x net interest cover). Earnings are forecast to decline by an average of 10% per year for the foreseeable future. Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results.
Reported Earnings • Nov 15Third quarter 2024 earnings: Revenues exceed analysts expectations while EPS lags behindThird quarter 2024 results: EPS: NT$1.22 (up from NT$0.95 in 3Q 2023). Revenue: NT$259.1b (up 38% from 3Q 2023). Net income: NT$2.04b (up 28% from 3Q 2023). Profit margin: 0.8% (in line with 3Q 2023). Revenue exceeded analyst estimates by 16%. Earnings per share (EPS) missed analyst estimates by 1.2%. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has increased by 14% per year, which means it is well ahead of earnings.
お知らせ • Nov 05WPG Holdings Limited to Report Q3, 2024 Results on Nov 12, 2024WPG Holdings Limited announced that they will report Q3, 2024 results on Nov 12, 2024
Major Estimate Revision • Aug 21Consensus EPS estimates increase by 11%The consensus outlook for earnings per share (EPS) in fiscal year 2024 has improved. 2024 revenue forecast increased from NT$775.2b to NT$839.5b. EPS estimate increased from NT$4.28 to NT$4.73 per share. Net income forecast to shrink 19% next year vs 20% growth forecast for Electronic industry in Taiwan . Consensus price target broadly unchanged at NT$90.63. Share price fell 4.8% to NT$81.40 over the past week.
New Risk • Aug 14New major risk - Earnings qualityThe company has a high level of non-cash earnings. Accrual ratio: 20% 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 Risks Interest payments are not well covered by earnings (2.1x net interest cover). Earnings are forecast to decline by an average of 13% per year for the foreseeable future. High level of non-cash earnings (20% accrual ratio). Minor Risk Paying a dividend despite having no free cash flows.
Reported Earnings • Aug 14Second quarter 2024 earnings: Revenues exceed analysts expectations while EPS lags behindSecond quarter 2024 results: EPS: NT$0.73 (down from NT$1.14 in 2Q 2023). Revenue: NT$208.0b (up 33% from 2Q 2023). Net income: NT$1.63b (down 15% from 2Q 2023). Profit margin: 0.8% (down from 1.2% in 2Q 2023). Revenue exceeded analyst estimates by 21%. Earnings per share (EPS) missed analyst estimates by 7.0%. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has increased by 22% per year, which means it is well ahead of earnings.
お知らせ • Aug 06WPG Holdings Limited to Report Q2, 2024 Results on Aug 13, 2024WPG Holdings Limited announced that they will report Q2, 2024 results on Aug 13, 2024
Declared Dividend • Jul 11Dividend reduced to NT$3.50Dividend of NT$3.50 is 9.1% lower than last year. Ex-date: 25th July 2024 Payment date: 21st August 2024 Dividend yield will be 3.8%, which is lower than the industry average of 4.0%. Sustainability & Growth Dividend is covered by earnings (65% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 3.0% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 68% over the next 3 years, which should provide support to the dividend and adequate earnings cover.
お知らせ • Jul 10WPG Holdings Limited Announces Cash Dividend, Payable on August 21, 2024WPG Holdings Limited announced Ordinary shares cash dividends TWD 5,876,698,916; TWD 3.5 per share. Ex-rights (ex-dividend) trading date is July 25, 2024; Ex-rights (ex-dividend) record date is July 31, 2024; Payment date of common stock cash dividend distribution is August 21, 2024.
Reported Earnings • May 11First quarter 2024 earnings: EPS and revenues exceed analyst expectationsFirst quarter 2024 results: EPS: NT$1.16 (up from NT$0.41 in 1Q 2023). Revenue: NT$181.9b (up 26% from 1Q 2023). Net income: NT$1.95b (up 185% from 1Q 2023). Profit margin: 1.1% (up from 0.5% in 1Q 2023). Revenue exceeded analyst estimates by 8.0%. Earnings per share (EPS) also surpassed analyst estimates by 72%. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 24% per year, which means it is well ahead of earnings.
お知らせ • May 01WPG Holdings Limited to Report Q1, 2024 Results on May 09, 2024WPG Holdings Limited announced that they will report Q1, 2024 results on May 09, 2024
お知らせ • Apr 11WPG Holdings Limited Proposes Cash Dividend for the Year Ended December 31, 2023WPG Holdings Limited's board of directors proposed a distribution of appropriations of earnings in cash dividend of TWD 3.5 per share for the year ended December 31, 2023. Total amount of cash distributed to shareholders is TWD 5,876,698,916. The date of the board of directors’ resolution is April 10, 2024.
New Risk • Mar 15New 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 6.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.9x net interest cover). Earnings are forecast to decline by an average of 6.5% per year for the foreseeable future. Minor Risks Dividend is not well covered by earnings (115% payout ratio). Share price has been volatile over the past 3 months (6.1% average weekly change). Large one-off items impacting financial results.
Major Estimate Revision • Mar 14Consensus EPS estimates increase by 23%The consensus outlook for earnings per share (EPS) in fiscal year 2024 has improved. 2024 revenue forecast increased from NT$717.7b to NT$760.7b. EPS estimate increased from NT$3.75 to NT$4.60 per share. Net income forecast to shrink 29% next year vs 31% growth forecast for Electronic industry in Taiwan . Consensus price target up from NT$59.90 to NT$73.98. Share price fell 11% to NT$85.70 over the past week.
Reported Earnings • Mar 04Full year 2023 earnings: EPS exceeds analyst expectations while revenues lag behindFull year 2023 results: EPS: NT$4.59 (down from NT$6.02 in FY 2022). Revenue: NT$671.9b (down 13% from FY 2022). Net income: NT$7.71b (down 24% from FY 2022). Profit margin: 1.1% (down from 1.3% in FY 2022). Revenue missed analyst estimates by 1.5%. Earnings per share (EPS) exceeded analyst estimates by 3.2%. Revenue is forecast to grow 7.4% 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 increased by 24% per year, which means it is well ahead of earnings.
お知らせ • Mar 01WPG Holdings Limited, Annual General Meeting, May 24, 2024WPG Holdings Limited, Annual General Meeting, May 24, 2024. Location: Conference Hall, 8F., No. 11, Zhongshan S. Rd., Zhongzheng Dist., Taipei City Taiwan Agenda: To consider and approve 2023 Business Report; Audit Committee's Review Report; 2023 employees' and directors' compensation; 2023 Directors' Remuneration Report; and to discuss other matters.
お知らせ • Dec 29WPG Holdings Limited Announces Change of Chief Information Security Officer, Effective January 1, 2024WPG Holdings Limited announced the change of Chief Information Security Officer. Name, title, and resume of the previous position holder: Jazz Chuang, Vice President of WPG Holdings Limited. Name, title, and resume of the new position holder: Mike Chang, Chief Executive Officer of WPG Holdings Limited. Effective date is January 1, 2024.
Price Target Changed • Nov 17Price target increased by 11% to NT$52.50Up from NT$47.50, the current price target is an average from 4 analysts. New target price is 26% below last closing price of NT$71.20. Stock is up 55% over the past year. The company is forecast to post earnings per share of NT$4.84 for next year compared to NT$6.02 last year.
Reported Earnings • Nov 15Third quarter 2023 earnings: EPS and revenues exceed analyst expectationsThird quarter 2023 results: EPS: NT$0.95 (down from NT$1.65 in 3Q 2022). Revenue: NT$187.4b (down 1.3% from 3Q 2022). Net income: NT$1.59b (down 42% from 3Q 2022). Profit margin: 0.8% (down from 1.5% in 3Q 2022). Revenue exceeded analyst estimates by 12%. Earnings per share (EPS) also surpassed analyst estimates by 30%. Revenue is forecast to grow 7.5% p.a. on average during the next 3 years, compared to a 9.3% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 20% per year, which means it is well ahead of earnings.
お知らせ • Oct 14WPG Holdings Limited Announces Chief Marketing & Sales Officer ChangesWPG Holdings Limited announced that IJ Hsu, Chief Marketing & Sales Officer, Global Business Group CEO and Chief Global Business Officer, passed away on October 12, 2023. The company announced the appointment of Mike Chang as Chief Marketing & Sales Officer, effective October 13, 2023. Mike Chang is Chief Executive Officer of the company.
お知らせ • Sep 15Wpg Holdings Limited Announces Not to Distribute Dividends for the Second Quarter of 2023WPG Holdings Limited announced not to distribute dividends for the second quarter of 2023 profit.
Major Estimate Revision • Aug 23Consensus EPS estimates fall by 10%The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from NT$654.9b to NT$646.3b. EPS estimate also fell from NT$3.43 per share to NT$3.08 per share. Net income forecast to shrink 2.6% next year vs 5.2% growth forecast for Electronic industry in Taiwan . Consensus price target up from NT$45.93 to NT$47.18. Share price rose 5.7% to NT$55.50 over the past week.
Reported Earnings • Aug 12Second quarter 2023 earnings: EPS and revenues exceed analyst expectationsSecond quarter 2023 results: EPS: NT$1.14 (down from NT$1.49 in 2Q 2022). Revenue: NT$156.7b (down 21% from 2Q 2022). Net income: NT$2.32b (down 7.2% from 2Q 2022). Profit margin: 1.5% (up from 1.3% in 2Q 2022). The increase in margin was driven by lower expenses. Revenue exceeded analyst estimates by 3.6%. Earnings per share (EPS) also surpassed analyst estimates by 10%. Revenue is forecast to grow 5.1% p.a. on average during the next 3 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 4% per year whereas the company’s share price has increased by 8% per year.
Valuation Update With 7 Day Price Move • Jul 25Investor sentiment deteriorates as stock falls 15%After last week's 15% share price decline to NT$50.10, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 16x in the Electronic industry in Taiwan. Total returns to shareholders of 48% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$26.77 per share.
Upcoming Dividend • Jul 18Upcoming dividend of NT$3.85 per share at 6.6% yieldEligible shareholders must have bought the stock before 25 July 2023. Payment date: 21 August 2023. Payout ratio is on the higher end at 88%, however this is supported by cash flows. Trailing yield: 6.6%. Within top quartile of Taiwanese dividend payers (5.4%). Higher than average of industry peers (4.1%).
お知らせ • Jul 12WPG Holdings Limited Announces Ordinary Cash Dividend, Payable on August 21, 2023WPG Holdings Limited announced ordinary shares cash dividend of TWD 6,464,368,807 and TWD 3.85 per share. Ex-rights (ex-dividend) trading date: July 25, 2023. Ex-rights (ex-dividend) record date: July 31, 2023. Payment date of cash dividend distribution: August 21, 2023. Date of the resolution by the board of directors or shareholders meeting or decision by the company: July 10, 2023.
お知らせ • Jun 01+ 1 more updateWPG Holdings Limited Approves Board ElectionsWPG Holdings Limited at its 2023 Annual Shareholders' Meeting held on May 31, 2023, approved the election of Simon Huang, K.D. Tseng, Frank Yeh, Mike Chang as Directors and Jack J. T. Huang and Joseph Yu as Independent Directors.
Major Estimate Revision • May 23Consensus EPS estimates fall by 12%The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from NT$690.9b to NT$625.6b. EPS estimate also fell from NT$3.46 per share to NT$3.06 per share. Net income forecast to shrink 11% next year vs 6.6% decline forecast for Electronic industry in Taiwan. Consensus price target of NT$42.67 unchanged from last update. Share price rose 3.8% to NT$52.20 over the past week.
Major Estimate Revision • Mar 09Consensus EPS estimates fall by 20%The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from NT$747.0b to NT$690.9b. EPS estimate also fell from NT$4.33 per share to NT$3.46 per share. Net income forecast to shrink 40% next year vs 3.9% growth forecast for Electronic industry in Taiwan . Consensus price target of NT$42.67 unchanged from last update. Share price was steady at NT$49.75 over the past week.
Reported Earnings • Mar 03Full year 2022 earnings: EPS misses analyst expectationsFull year 2022 results: EPS: NT$6.02 (down from NT$6.61 in FY 2021). Revenue: NT$775.2b (flat on FY 2021). Net income: NT$10.5b (down 5.3% from FY 2021). Profit margin: 1.4% (in line with FY 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 4.6%. Revenue is expected to decline by 1.0% p.a. on average during the next 2 years, while revenues in the Electronic industry in Taiwan are expected to grow by 6.1%. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth.
Price Target Changed • Dec 08Price target decreased to NT$46.33Down from NT$52.00, the current price target is an average from 3 analysts. New target price is approximately in line with last closing price of NT$47.75. Stock is down 4.9% over the past year. The company is forecast to post earnings per share of NT$6.29 for next year compared to NT$6.61 last year.
Reported Earnings • Nov 16Third quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behindThird quarter 2022 results: EPS: NT$1.65 (down from NT$1.90 in 3Q 2021). Revenue: NT$189.8b (down 6.0% from 3Q 2021). Net income: NT$2.76b (down 13% from 3Q 2021). Profit margin: 1.5% (down from 1.6% in 3Q 2021). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 17%. Earnings per share (EPS) exceeded analyst estimates by 17%. Revenue is expected to decline by 9.3% p.a. on average during the next 3 years, while revenues in the Electronic industry in Taiwan are expected to grow by 7.1%. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth.
Board Change • Nov 16Less than half of directors are independentFollowing the recent departure of a director, there are only 5 independent directors on the board. The company's board is composed of: 5 independent directors. 6 non-independent directors. Independent Director Kathy Yang was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
Reported Earnings • Nov 13Third quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behindThird quarter 2022 results: EPS: NT$1.64 (down from NT$1.90 in 3Q 2021). Revenue: NT$189.8b (down 6.0% from 3Q 2021). Net income: NT$2.76b (down 13% from 3Q 2021). Profit margin: 1.5% (down from 1.6% in 3Q 2021). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 17%. Earnings per share (EPS) exceeded analyst estimates by 17%. Revenue is expected to decline by 9.3% p.a. on average during the next 3 years, while revenues in the Electronic industry in Taiwan are expected to grow by 7.2%. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth.
Buying Opportunity • Sep 28Now 21% undervalued after recent price dropOver the last 90 days, the stock is down 16%. The fair value is estimated to be NT$58.11, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Earnings per share has grown by 25%.
Reported Earnings • Aug 13Second quarter 2022 earnings: EPS and revenues miss analyst expectationsSecond quarter 2022 results: EPS: NT$1.49. Revenue: NT$199.1b (flat on 2Q 2021). Net income: NT$2.90b (up 3.9% from 2Q 2021). Profit margin: 1.5% (up from 1.4% in 2Q 2021). Revenue missed analyst estimates by 2.1%. Earnings per share (EPS) also missed analyst estimates by 5.4%. Over the next year, revenue is expected to shrink by 2.2% compared to a 8.6% growth forecast for the industry in Taiwan.
Upcoming Dividend • Jul 12Upcoming dividend of NT$3.50 per shareEligible shareholders must have bought the stock before 19 July 2022. Payment date: 15 August 2022. Payout ratio is a comfortable 48% but the company is not cash flow positive. Trailing yield: 6.8%. Within top quartile of Taiwanese dividend payers (6.7%). Higher than average of industry peers (4.9%).
Reported Earnings • May 13First quarter 2022 earnings: EPS and revenues exceed analyst expectationsFirst quarter 2022 results: EPS: NT$2.05 (up from NT$1.44 in 1Q 2021). Revenue: NT$209.9b (up 19% from 1Q 2021). Net income: NT$3.44b (up 42% from 1Q 2021). Profit margin: 1.6% (up from 1.4% in 1Q 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.2%. Earnings per share (EPS) also surpassed analyst estimates by 58%. Over the next year, revenue is expected to shrink by 3.3% compared to a 9.8% growth forecast for the industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth.
Reported Earnings • Mar 03Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behindFull year 2021 results: EPS: NT$6.61 (up from NT$4.77 in FY 2020). Revenue: NT$778.6b (up 28% from FY 2020). Net income: NT$11.5b (up 44% from FY 2020). Profit margin: 1.5% (up from 1.3% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.2%. Earnings per share (EPS) missed analyst estimates by 1.2%. Over the next year, revenue is expected to shrink by 2.8% compared to a 9.2% growth forecast for the industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 19% per year whereas the company’s share price has increased by 14% per year.
Reported Earnings • Nov 15Third quarter 2021 earnings released: EPS NT$1.90 (vs NT$1.34 in 3Q 2020)The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$201.9b (up 19% from 3Q 2020). Net income: NT$3.19b (up 41% from 3Q 2020). Profit margin: 1.6% (up from 1.3% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 15% per year whereas the company’s share price has increased by 12% per year.
Price Target Changed • Aug 17Price target increased to NT$46.00Up from NT$42.50, the current price target is an average from 2 analysts. New target price is approximately in line with last closing price of NT$47.60. Stock is up 17% over the past year.
Reported Earnings • Aug 15Second quarter 2021 earnings released: EPS NT$1.90 (vs NT$1.19 in 2Q 2020)The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: NT$200.2b (up 34% from 2Q 2020). Net income: NT$3.19b (up 59% from 2Q 2020). Profit margin: 1.6% (up from 1.3% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 9% per year whereas the company’s share price has increased by 4% per year.
Upcoming Dividend • Aug 04Upcoming dividend of NT$3.10 per shareEligible shareholders must have bought the stock before 11 August 2021. Payment date: 31 August 2021. Trailing yield: 5.6%. Within top quartile of Taiwanese dividend payers (5.0%). Higher than average of industry peers (3.0%).
Price Target Changed • Jul 02Price target decreased to NT$42.50Down from NT$48.17, the current price target is provided by 1 analyst. New target price is 17% below last closing price of NT$51.10. Stock is up 25% over the past year.
Reported Earnings • May 15First quarter 2021 earnings released: EPS NT$1.49 (vs NT$0.99 in 1Q 2020)The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$177.1b (up 35% from 1Q 2020). Net income: NT$2.49b (up 50% from 1Q 2020). Profit margin: 1.4% (up from 1.3% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has increased by 2% per year.
Major Estimate Revision • Apr 10Consensus EPS estimates increase to NT$5.40The consensus outlook for earnings per share (EPS) in 2021 has improved. 2021 revenue forecast increased from NT$649.4b to NT$673.7b. EPS estimate increased from NT$4.73 to NT$5.40 per share. Net income forecast to grow 1.2% next year vs 26% growth forecast for Electronic industry in Taiwan. Consensus price target broadly unchanged at NT$48.17. Share price fell 3.8% to NT$46.95 over the past week.
Reported Earnings • Apr 01Full year 2020 earnings released: EPS NT$4.77 (vs NT$3.84 in FY 2019)The company reported a solid full year result with improved earnings and revenues, although profit margins were flat. Full year 2020 results: Revenue: NT$609.9b (up 16% from FY 2019). Net income: NT$8.12b (up 26% from FY 2019). Profit margin: 1.3% (in line with FY 2019). Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 6% per year, which means it is well ahead of earnings.
Is New 90 Day High Low • Mar 02New 90-day high: NT$45.90The company is up 10.0% from its price of NT$41.60 on 02 December 2020. The Taiwanese market is up 14% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 19% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is NT$37.91 per share.
Is New 90 Day High Low • Jan 25New 90-day high: NT$45.60The company is up 15% from its price of NT$39.50 on 27 October 2020. The Taiwanese market is up 23% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 27% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is NT$38.22 per share.
Is New 90 Day High Low • Jan 07New 90-day high: NT$43.30The company is up 9.0% from its price of NT$39.75 on 08 October 2020. The Taiwanese market is up 16% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 20% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is NT$38.09 per share.
