Ta-Yuan Cogeneration（8931）株式概要Ta-Yuan Cogeneration Company Ltd.は台湾でコージェネレーション事業を行っている。 詳細8931 ファンダメンタル分析スノーフレーク・スコア評価0/6将来の成長0/6過去の実績2/6財務の健全性2/6配当金2/6リスク分析3.78%の配当は、利益やフリーキャッシュフローによって十分にカバーされていない 多額の負債を抱えている 利益率(7.5%)は昨年より低い(12.6%) すべてのリスクチェックを見る8931 Community Fair Values Create NarrativeSee what others think this stock is worth. Follow their fair value or set your own to get alerts.NEW478,154 membersJoin community and earn perksGain real feedbackFrom our editorial team, personally. Not silence.Grow your followingReal investors. The kind who actually invest, not scroll past.Unlock free accessFree premium subscription for consistent and quality authors.Learn moreCreate NarrativeBLINRODA478,154 investors already sharing narrativesYour Fair ValueNT$Current PriceNT$42.3511.7% 割高 内在価値ディスカウントGrowth estimate overAnnual revenue growth rate5 Yearstime period%/yrDecreaseIncreasePastFuture03b2016201920222025202620282031Revenue NT$3.1bEarnings NT$233.2mAdvancedSet Fair ValueView all narrativesTa-Yuan Cogeneration Company Ltd. 競合他社Taiwan CogenerationSymbol: TWSE:8926Market cap: NT$47.2bIna EnergySymbol: TPEX:6987Market cap: NT$4.3bGreenetSymbol: TPEX:7842Market cap: NT$1.7bHsin Kao GasLtdSymbol: TWSE:9931Market cap: NT$4.0b価格と性能株価の高値、安値、推移の概要Ta-Yuan Cogeneration過去の株価現在の株価NT$42.3552週高値NT$54.6052週安値NT$40.80ベータ0.531ヶ月の変化0.59%3ヶ月変化1.19%1年変化-19.64%3年間の変化-25.31%5年間の変化38.63%IPOからの変化300.11%最新ニュースUpcoming Dividend • 49mUpcoming dividend of NT$1.60 per shareEligible shareholders must have bought the stock before 30 July 2026. Payment date: 27 August 2026. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 3.8%. Lower than top quartile of Taiwanese dividend payers (5.0%). In line with average of industry peers (4.0%).Declared Dividend • May 29Dividend reduced to NT$1.60Dividend of NT$1.60 is 20% lower than last year. Ex-date: 30th July 2026 Payment date: 27th August 2026 Dividend yield will be 3.8%, which is higher than the industry average of 1.9%. Sustainability & Growth Dividend is covered by earnings (86% 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 14% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 1.2% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover.Reported Earnings • May 07First quarter 2026 earnings released: EPS: NT$0.38 (vs NT$0.74 in 1Q 2025)First quarter 2026 results: EPS: NT$0.38 (down from NT$0.74 in 1Q 2025). Revenue: NT$620.8m (flat on 1Q 2025). Net income: NT$46.9m (down 48% from 1Q 2025). Profit margin: 7.6% (down from 15% in 1Q 2025). Over the last 3 years on average, earnings per share has fallen by 19% per year whereas the company’s share price has fallen by 15% per year.Reported Earnings • Mar 12Full year 2025 earnings released: EPS: NT$1.87 (vs NT$2.32 in FY 2024)Full year 2025 results: EPS: NT$1.87 (down from NT$2.32 in FY 2024). Revenue: NT$2.47b (down 1.7% from FY 2024). Net income: NT$228.7m (down 19% from FY 2024). Profit margin: 9.2% (down from 11% in FY 2024). Over the last 3 years on average, earnings per share has fallen by 15% 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.お知らせ • Mar 09Ta-Yuan Cogeneration Company Ltd., Annual General Meeting, May 26, 2026Ta-Yuan Cogeneration Company Ltd., Annual General Meeting, May 26, 2026. Location: no,276, ch`ao yin n. rd., dayuan dist., taoyuan city TaiwanReported Earnings • Nov 06Third quarter 2025 earnings released: EPS: NT$0.40 (vs NT$0.71 in 3Q 2024)Third quarter 2025 results: EPS: NT$0.40 (down from NT$0.71 in 3Q 2024). Revenue: NT$692.3m (up 2.1% from 3Q 2024). Net income: NT$49.0m (down 44% from 3Q 2024). Profit margin: 7.1% (down from 13% in 3Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 15% per year, which means it is well ahead of earnings.最新情報をもっと見るRecent updatesUpcoming Dividend • 49mUpcoming dividend of NT$1.60 per shareEligible shareholders must have bought the stock before 30 July 2026. Payment date: 27 August 2026. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 3.8%. Lower than top quartile of Taiwanese dividend payers (5.0%). In line with average of industry peers (4.0%).Declared Dividend • May 29Dividend reduced to NT$1.60Dividend of NT$1.60 is 20% lower than last year. Ex-date: 30th July 2026 Payment date: 27th August 2026 Dividend yield will be 3.8%, which is higher than the industry average of 1.9%. Sustainability & Growth Dividend is covered by earnings (86% 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 14% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 1.2% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover.Reported Earnings • May 07First quarter 2026 earnings released: EPS: NT$0.38 (vs NT$0.74 in 1Q 2025)First quarter 2026 results: EPS: NT$0.38 (down from NT$0.74 in 1Q 2025). Revenue: NT$620.8m (flat on 1Q 2025). Net income: NT$46.9m (down 48% from 1Q 2025). Profit margin: 7.6% (down from 15% in 1Q 2025). Over the last 3 years on average, earnings per share has fallen by 19% per year whereas the company’s share price has fallen by 15% per year.Reported Earnings • Mar 12Full year 2025 earnings released: EPS: NT$1.87 (vs NT$2.32 in FY 2024)Full year 2025 results: EPS: NT$1.87 (down from NT$2.32 in FY 2024). Revenue: NT$2.47b (down 1.7% from FY 2024). Net income: NT$228.7m (down 19% from FY 2024). Profit margin: 9.2% (down from 11% in FY 2024). Over the last 3 years on average, earnings per share has fallen by 15% 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.お知らせ • Mar 09Ta-Yuan Cogeneration Company Ltd., Annual General Meeting, May 26, 2026Ta-Yuan Cogeneration Company Ltd., Annual General Meeting, May 26, 2026. Location: no,276, ch`ao yin n. rd., dayuan dist., taoyuan city TaiwanReported Earnings • Nov 06Third quarter 2025 earnings released: EPS: NT$0.40 (vs NT$0.71 in 3Q 2024)Third quarter 2025 results: EPS: NT$0.40 (down from NT$0.71 in 3Q 2024). Revenue: NT$692.3m (up 2.1% from 3Q 2024). Net income: NT$49.0m (down 44% from 3Q 2024). Profit margin: 7.1% (down from 13% in 3Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 15% per year, which means it is well ahead of earnings.Reported Earnings • Aug 06Second quarter 2025 earnings released: EPS: NT$0.70 (vs NT$0.58 in 2Q 2024)Second quarter 2025 results: EPS: NT$0.70 (up from NT$0.58 in 2Q 2024). Revenue: NT$595.5m (down 3.1% from 2Q 2024). Net income: NT$85.6m (up 21% from 2Q 2024). Profit margin: 14% (up from 12% in 2Q 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 21% per year, which means it is tracking significantly ahead of earnings growth.Upcoming Dividend • Jul 23Upcoming dividend of NT$2.00 per shareEligible shareholders must have bought the stock before 30 July 2025. Payment date: 28 August 2025. Payout ratio is on the higher end at 75% but the company is not cash flow positive. Trailing yield: 3.8%. Lower than top quartile of Taiwanese dividend payers (5.3%). Higher than average of industry peers (2.9%).Declared Dividend • May 31Dividend reduced to NT$2.00Dividend of NT$2.00 is 4.8% lower than last year. Ex-date: 30th July 2025 Payment date: 28th August 2025 Dividend yield will be 3.7%, which is higher than the industry average of 1.9%. Sustainability & Growth Dividend is covered by earnings (75% 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 16% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 14% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover.Reported Earnings • May 08First quarter 2025 earnings released: EPS: NT$0.74 (vs NT$0.41 in 1Q 2024)First quarter 2025 results: EPS: NT$0.74 (up from NT$0.41 in 1Q 2024). Revenue: NT$619.3m (up 8.1% from 1Q 2024). Net income: NT$90.3m (up 81% from 1Q 2024). Profit margin: 15% (up from 8.7% 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 9% per year but the company’s share price has increased by 17% per year, which means it is tracking significantly ahead of earnings growth.お知らせ • May 01Ta-Yuan Cogeneration Company Ltd. to Report Q1, 2025 Results on May 07, 2025Ta-Yuan Cogeneration Company Ltd. announced that they will report Q1, 2025 results on May 07, 2025New Risk • Apr 02New major risk - Financial positionThe company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 19% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (19% operating cash flow to total debt). Dividend is not well covered by earnings and cash flows. Payout ratio: 98% Paying a dividend despite having no free cash flows.お知らせ • Mar 13Ta-Yuan Cogeneration Company Ltd., Annual General Meeting, May 28, 2025Ta-Yuan Cogeneration Company Ltd., Annual General Meeting, May 28, 2025, at 09:00 Taipei Standard Time. Location: no,276, ch`ao yin n. rd., dayuan dist., taoyuan city Taiwanお知らせ • Mar 01Ta-Yuan Cogeneration Company Ltd. to Report Q4, 2024 Results on Mar 07, 2025Ta-Yuan Cogeneration Company Ltd. announced that they will report Q4, 2024 results on Mar 07, 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.お知らせ • Oct 29Ta-Yuan Cogeneration Company Ltd. to Report Q3, 2024 Results on Nov 05, 2024Ta-Yuan Cogeneration Company Ltd. announced that they will report Q3, 2024 results on Nov 05, 2024Reported Earnings • Aug 17Second quarter 2024 earnings: EPS and revenues miss analyst expectationsSecond quarter 2024 results: EPS: NT$0.58 (up from NT$0.33 in 2Q 2023). Revenue: NT$614.8m (down 6.9% from 2Q 2023). Net income: NT$71.0m (up 77% from 2Q 2023). Profit margin: 12% (up from 6.1% in 2Q 2023). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 17%. Earnings per share (EPS) also missed analyst estimates by 9.4%. Revenue is forecast to grow 19% p.a. on average during the next 2 years, compared to a 10.0% growth forecast for the Renewable Energy industry in Asia. 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 18% per year.お知らせ • Jul 31Ta-Yuan Cogeneration Company Ltd. Announces Change in Representative of the Its Institutional Director, Effective August 1, 2024Ta-Yuan Cogeneration Company Ltd. announced change in representative of the Company's institutional director. Name of the previous position holder: Yi-Tong Chen. Resume of the previous position holder: General Manager of Taiwan Cogeneration Corporation. Name of the new position holder: Tien-Te Cheng. Resume of the new position holder: Professional Chief Engineer of Taiwan Power Company. Reason for the change: Taiwan Cogeneration Corporation assigned a new representative to serve as institutional director. Effective date of the new appointment: August 1, 2024.お知らせ • Jul 30Ta-Yuan Cogeneration Company Ltd. to Report Q2, 2024 Results on Aug 06, 2024Ta-Yuan Cogeneration Company Ltd. announced that they will report Q2, 2024 results on Aug 06, 2024Upcoming Dividend • Jul 18Upcoming dividend of NT$2.10 per shareEligible shareholders must have bought the stock before 25 July 2024. Payment date: 26 August 2024. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 3.9%. Lower than top quartile of Taiwanese dividend payers (4.2%). Higher than average of industry peers (2.2%).お知らせ • May 30Ta-Yuan Cogeneration Company Ltd. Approves Cash Dividend, Payable on August 26, 2024Ta-Yuan Cogeneration Company Ltd. approved the cash dividend of TWD 256,735,210. Ex-rights (Ex-dividend) date is July 25, 2024. Ex-rights (Ex-dividend) record date is July 31, 2024. Payment date of cash dividend distribution on August 26, 2024. Date of the resolution by the board of directors or shareholders meeting, or of the decision by the company: May 29, 2024.Reported Earnings • May 19First quarter 2024 earnings: EPS exceeds analyst expectations while revenues lag behindFirst quarter 2024 results: EPS: NT$0.41 (down from NT$0.78 in 1Q 2023). Revenue: NT$572.9m (down 28% from 1Q 2023). Net income: NT$49.8m (down 48% from 1Q 2023). Profit margin: 8.7% (down from 12% in 1Q 2023). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 4.8%. Earnings per share (EPS) exceeded analyst estimates by 52%. Revenue is forecast to grow 16% p.a. on average during the next 2 years, compared to a 9.2% growth forecast for the Renewable Energy industry in Asia. Over the last 3 years on average, earnings per share has increased by 25% per year whereas the company’s share price has increased by 21% per year.お知らせ • May 09Ta-Yuan Cogeneration Company Ltd. Announces Chairman ChangesTa-Yuan Cogeneration Company Ltd. announced Chairman changes. Name of the previous position holder: Shih-Yang Chang(deputy chairman). Resume of the previous position holder: General manager and director of Ta-Yuan Cogeneration Corporation. Name of the new position holder: Yi-Tung Chen 6.Resume of the new position holder: General manager of Taiwan Cogeneration Corporation. Reason for the change: The seventh meeting of the 11th Board of Directors to elect Yi-Tung Chen director as Chairman on May 8, 2024. Effective date of the new appointment: May 8, 2024.Buy Or Sell Opportunity • Apr 15Now 21% overvalued after recent price riseOver the last 90 days, the stock has risen 7.5% to NT$51.30. The fair value is estimated to be NT$42.50, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 21% over the last 3 years. Earnings per share has grown by 31%. Revenue is forecast to grow by 24% in 2 years. Earnings are forecast to grow by 37% in the next 2 years.Reported Earnings • Mar 17Full year 2023 earnings: EPS misses analyst expectationsFull year 2023 results: EPS: NT$2.32 (down from NT$3.01 in FY 2022). Revenue: NT$2.72b (down 5.0% from FY 2022). Net income: NT$283.3m (down 23% from FY 2022). Profit margin: 10% (down from 13% in FY 2022). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 2.1%. Revenue is forecast to grow 10% p.a. on average during the next 2 years, compared to a 9.4% growth forecast for the Renewable Energy industry in Asia. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth.お知らせ • Mar 06Ta-Yuan Cogeneration Company Ltd., Annual General Meeting, May 29, 2024Ta-Yuan Cogeneration Company Ltd., Annual General Meeting, May 29, 2024. Location: No. 276, Chaoyin N. Rd.Dayuan Dist Taoyuan City Taiwan Agenda: To consider and approve the 2023 business report; to consider and approve the 2023 Audit Committee's review report; to consider and approve the Report on 2023 employees remuneration; to consider and approve the other matters of business.Valuation Update With 7 Day Price Move • Feb 22Investor sentiment improves as stock rises 19%After last week's 19% share price gain to NT$58.60, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 10x in the Renewable Energy industry in Asia. Total returns to shareholders of 124% over the past three years.Board Change • Jan 17Less than half of directors are independentFollowing the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Chih-Liang Lee was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.お知らせ • Jan 16Ta-Yuan Cogeneration Company Ltd. Announces the Change of ChairpersonTa-Yuan Cogeneration Company Ltd. announced the change of chairperson. Name of the previous position holder: Chung-Cheng Lee. Resume of the previous position holder: Unpaid consultant of Taiwan Cogeneration Corporation. Name of the new position holder: Shih-Yang Chang 6.Resume of the new position holder: General manager and director of Ta-Yuan Cogeneration Corporation Reason for the change: Taiwan Cogeneration Corporation assigned a new representative to serve as institutional director and held the fifth meeting of the 11th Board of Directors to elect Shih-Yang Chang director as Acting Chairman on January 15, 2024. Effective date of the new appointment: January 15, 2024.Valuation Update With 7 Day Price Move • Nov 20Investor sentiment improves as stock rises 16%After last week's 16% share price gain to NT$49.70, the stock trades at a trailing P/E ratio of 16.4x. Average trailing P/E is 17x in the Renewable Energy industry in Taiwan. Total returns to shareholders of 87% over the past three years.Reported Earnings • Aug 04Second quarter 2023 earnings released: EPS: NT$0.33 (vs NT$0.40 in 2Q 2022)Second quarter 2023 results: EPS: NT$0.33 (down from NT$0.40 in 2Q 2022). Revenue: NT$660.3m (up 15% from 2Q 2022). Net income: NT$40.1m (down 18% from 2Q 2022). Profit margin: 6.1% (down from 8.5% 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 34% per year but the company’s share price has only increased by 24% per year, which means it is significantly lagging earnings growth.お知らせ • Aug 02+ 1 more updateTa-Yuan Cogeneration Company Ltd. Announces Remuneration Committee ChangesTa-Yuan Cogeneration Company Ltd. announced members of the company’s 5nd Remuneration Committee. .Name of the previous position holder: Independent director: Kua-Teng Su and Independent director: Chun-Tsai Hung. Resume of the previous position holder: Kua-Teng Su/Adjunct professor, National Chengchi University and Chun-Tsai Hung/General manager, Sun Favorite Co. Ltd. Name of the new position holder: Independent director: Chih-liang Lee and Independent director: Yung-Jen Huang. Resume of the new position holder: Chih-liang Lee/General manager, Cheng Loong Binh Duong Paper Co. Ltd. and Yung-Jen Huang/Director, Taoyuan Private Baby Potential Development Center. Reason for the change: Appointed by the board of directors after the expiration of the term. date of the new member: August 1, 2023.Upcoming Dividend • Jun 20Upcoming dividend of NT$2.50 per share at 3.8% yieldEligible shareholders must have bought the stock before 27 June 2023. Payment date: 25 July 2023. Payout ratio is a comfortable 68% and this is well supported by cash flows. Trailing yield: 3.8%. Lower than top quartile of Taiwanese dividend payers (5.5%). Higher than average of industry peers (1.9%).Reported Earnings • Mar 26Full year 2022 earnings released: EPS: NT$3.01 (vs NT$1.39 in FY 2021)Full year 2022 results: EPS: NT$3.01 (up from NT$1.39 in FY 2021). Revenue: NT$2.86b (up 43% from FY 2021). Net income: NT$368.1m (up 116% from FY 2021). Profit margin: 13% (up from 8.5% 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 15% per year but the company’s share price has increased by 42% per year, which means it is tracking significantly ahead of earnings growth.Valuation Update With 7 Day Price Move • Mar 23Investor sentiment improves as stock rises 16%After last week's 16% share price gain to NT$69.40, the stock trades at a trailing P/E ratio of 37x. Average trailing P/E is 28x in the Renewable Energy industry in Taiwan. Total returns to shareholders of 234% over the past three years.Valuation Update With 7 Day Price Move • Feb 06Investor sentiment improves as stock rises 16%After last week's 16% share price gain to NT$53.00, the stock trades at a trailing P/E ratio of 28.2x. Average trailing P/E is 26x in the Renewable Energy industry in Taiwan. Total returns to shareholders of 117% over the past three years.Board Change • Nov 16Less than half of directors are independentFollowing the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 5 non-independent directors. Independent Director Guang-Yu Li was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.Reported Earnings • Nov 11Third quarter 2022 earnings released: EPS: NT$1.38 (vs NT$0.48 in 3Q 2021)Third quarter 2022 results: EPS: NT$1.38 (up from NT$0.48 in 3Q 2021). Revenue: NT$900.2m (up 51% from 3Q 2021). Net income: NT$168.9m (up 187% from 3Q 2021). Profit margin: 19% (up from 9.9% in 3Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 5% per year whereas the company’s share price has increased by 9% per year.Buying Opportunity • Sep 26Now 22% undervaluedThe stock has been flat over the last 90 days. The fair value is estimated to be NT$38.74, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.8% over the last 3 years. Earnings per share has grown by 3.4%.Buying Opportunity • Sep 06Now 20% undervaluedOver the last 90 days, the stock is up 2.0%. The fair value is estimated to be NT$38.74, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.8% over the last 3 years. Earnings per share has grown by 3.4%.Reported Earnings • Aug 15Second quarter 2022 earnings released: EPS: NT$0.40 (vs NT$0.60 in 2Q 2021)Second quarter 2022 results: EPS: NT$0.40 (down from NT$0.60 in 2Q 2021). Revenue: NT$575.4m (up 11% from 2Q 2021). Net income: NT$48.8m (down 33% from 2Q 2021). Profit margin: 8.5% (down from 14% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has increased by 4% per year.Upcoming Dividend • Jul 14Upcoming dividend of NT$1.50 per shareEligible shareholders must have bought the stock before 21 July 2022. Payment date: 25 August 2022. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 5.1%. Lower than top quartile of Taiwanese dividend payers (6.8%). Higher than average of industry peers (3.0%).お知らせ • Jun 17+ 2 more updatesTa-Yuan Cogeneration Company Ltd. Announces Company's New Audit Committee MemberTa-Yuan Cogeneration Company Ltd. announced appointment of Company's new Audit committee member. Name of the new position holder is GUANG-YU LI. Resume of the new position holder: The manager of industrial paper's production and sales in Cheng Loong Corp. Effective date of the new member is June 16, 2022.Buying Opportunity • Jun 09Now 20% undervalued after recent price dropOver the last 90 days, the stock is down 3.7%. The fair value is estimated to be NT$37.91, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.0% over the last 3 years. Earnings per share has grown by 8.5%.Buying Opportunity • May 17Now 20% undervalued after recent price dropOver the last 90 days, the stock is down 4.1%. The fair value is estimated to be NT$38.42, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.0% over the last 3 years. Earnings per share has grown by 8.6%.Reported Earnings • May 05First quarter 2022 earnings released: EPS: NT$0.09 (vs NT$0.31 in 1Q 2021)First quarter 2022 results: EPS: NT$0.09 (down from NT$0.31 in 1Q 2021). Revenue: NT$457.8m (up 14% from 1Q 2021). Net income: NT$10.4m (down 72% from 1Q 2021). Profit margin: 2.3% (down from 9.3% in 1Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 9% per year and the company’s share price has also increased by 9% per year.Board Change • Apr 27Less than half of directors are independentFollowing the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 5 non-independent directors. Independent Director Chun-Tsai Hung was the last independent director to join the board, commencing their role in 2017. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.Reported Earnings • Mar 13Full year 2021 earnings: Revenues and EPS in line with analyst expectationsFull year 2021 results: EPS: NT$1.39 (down from NT$1.49 in FY 2020). Revenue: NT$2.00b (up 8.4% from FY 2020). Net income: NT$170.4m (down 6.5% from FY 2020). Profit margin: 8.5% (down from 9.9% in FY 2020). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. 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 10% per year.お知らせ • Feb 18+ 2 more updatesTa-Yuan Cogeneration Company Ltd. Announces Demise of Bao-Guang Chang, Convener of Audit CommitteeTa-Yuan Cogeneration Company Ltd. announced the demise of Bao-Guang Chang, convener of Audit Committee.Reported Earnings • Nov 05Third quarter 2021 earnings released: EPS NT$0.48 (vs NT$0.54 in 3Q 2020)The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: NT$596.2m (up 22% from 3Q 2020). Net income: NT$58.8m (down 10% from 3Q 2020). Profit margin: 9.9% (down from 13% in 3Q 2020). The decrease in margin was driven by higher expenses. 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 15% per year.Reported Earnings • Aug 05Second quarter 2021 earnings released: EPS NT$0.60 (vs NT$0.22 in 2Q 2020)The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: NT$518.1m (up 11% from 2Q 2020). Net income: NT$72.9m (up 175% from 2Q 2020). Profit margin: 14% (up from 5.7% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 16% per year whereas the company’s share price has increased by 12% per year.Upcoming Dividend • Aug 05Upcoming dividend of NT$1.40 per shareEligible shareholders must have bought the stock before 12 August 2021. Payment date: 08 September 2021. Trailing yield: 4.4%. Lower than top quartile of Taiwanese dividend payers (4.9%). Higher than average of industry peers (3.6%).Reported Earnings • May 09First quarter 2021 earnings released: EPS NT$0.31 (vs NT$0.37 in 1Q 2020)The company reported a poor first quarter result with weaker earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$403.0m (down 3.3% from 1Q 2020). Net income: NT$37.4m (down 17% from 1Q 2020). Profit margin: 9.3% (down from 11% in 1Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth.Reported Earnings • Mar 18Full year 2020 earnings released: EPS NT$1.49 (vs NT$1.20 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$1.84b (up 13% from FY 2019). Net income: NT$182.2m (up 24% from FY 2019). Profit margin: 9.9% (in line with FY 2019). Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth.分析記事 • Feb 25These 4 Measures Indicate That Ta-Yuan Cogeneration (GTSM:8931) Is Using Debt ExtensivelyWarren Buffett famously said, 'Volatility is far from synonymous with risk.' So it seems the smart money knows that...分析記事 • Jan 28Shareholders Of Ta-Yuan Cogeneration (GTSM:8931) Must Be Happy With Their 80% ReturnIf you buy and hold a stock for many years, you'd hope to be making a profit. Better yet, you'd like to see the share...分析記事 • Dec 17Here’s What’s Happening With Returns At Ta-Yuan Cogeneration (GTSM:8931)If we want to find a stock that could multiply over the long term, what are the underlying trends we should look for...分析記事 • Nov 18Ta-Yuan Cogeneration's (GTSM:8931) Earnings Are Growing But Is There More To The Story?It might be old fashioned, but we really like to invest in companies that make a profit, each and every year. Having...Is New 90 Day High Low • Nov 14New 90-day high: NT$29.70The company is up 6.0% from its price of NT$28.00 on 14 August 2020. The Taiwanese market is up 3.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Renewable Energy industry, which is up 7.0% over the same period.Reported Earnings • Nov 05Third quarter 2020 earnings released: EPS NT$0.54The company reported a solid third quarter result with improved earnings and revenues, although profit margins were flat. Third quarter 2020 results: Revenue: NT$488.9m (up 18% from 3Q 2019). Net income: NT$65.4m (up 17% from 3Q 2019). Profit margin: 13% (in line with 3Q 2019). 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 13% per year.Is New 90 Day High Low • Oct 30New 90-day high: NT$29.35The company is up 6.0% from its price of NT$27.70 on 31 July 2020. The Taiwanese market is flat over the last 90 days, indicating the company outperformed over that time. It also outperformed the Renewable Energy industry, which is up 1.0% over the same period.株主還元8931TW Renewable EnergyTW 市場7D0%-2.4%-2.0%1Y-19.6%-23.3%90.3%株主還元を見る業界別リターン: 8931過去 1 年間で-23.3 % の収益を上げたTW Renewable Energy業界を上回りました。リターン対市場: 8931は、過去 1 年間で90.3 % のリターンを上げたTW市場を下回りました。価格変動Is 8931's price volatile compared to industry and market?8931 volatility8931 Average Weekly Movement2.7%Renewable Energy Industry Average Movement8.2%Market Average Movement6.5%10% most volatile stocks in TW Market12.0%10% least volatile stocks in TW Market2.7%安定した株価: 8931 、 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: 8931の 週次ボラティリティ ( 3% ) 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1993195Jeff Changwww.tycc.com.tw桃園コージェネレーションは台湾でコージェネレーション事業を行う。同社は設備の運転・保守、廃棄物の除去、焼却炉の管理事業を行っている。また、発電と送電も行っている。同社は1993年に設立され、台湾の桃園市に拠点を置く。もっと見るTa-Yuan Cogeneration Company Ltd. 基礎のまとめTa-Yuan Cogeneration の収益と売上を時価総額と比較するとどうか。8931 基礎統計学時価総額NT$5.12b収益（TTM）NT$185.32m売上高(TTM)NT$2.48b27.9xPER（株価収益率2.1xP/Sレシオ8931 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8931 損益計算書（TTM）収益NT$2.48b売上原価NT$2.11b売上総利益NT$364.97mその他の費用NT$179.66m収益NT$185.32m直近の収益報告Mar 31, 2026次回決算日該当なし一株当たり利益（EPS）1.52グロス・マージン14.74%純利益率7.48%有利子負債／自己資本比率127.2%8931 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3.8%現在の配当利回り106%配当性向8931 配当は確実ですか？8931 配当履歴とベンチマークを見る8931 、いつまでに購入すれば配当金を受け取れますか？Ta-Yuan Cogeneration 配当日配当落ち日Jul 30 2026配当支払日Aug 27 2026配当落ちまでの日数7 days配当支払日までの日数35 days8931 配当は確実ですか？8931 配当履歴とベンチマークを見る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2026/07/23 09:13終値2026/07/23 00:00収益2026/03/31年間収益2025/12/31データソース企業分析に使用したデータはS&P Global Market Intelligence LLC のものです。本レポートを作成するための分析モデルでは、以下のデータを使用しています。データは正規化されているため、ソースが利用可能になるまでに時間がかかる場合があります。パッケージデータタイムフレーム米国ソース例会社財務10年損益計算書キャッシュ・フロー計算書貸借対照表SECフォーム10-KSECフォーム10-Qアナリストのコンセンサス予想+プラス3年予想財務アナリストの目標株価アナリストリサーチレポートBlue Matrix市場価格30年株価配当、分割、措置ICEマーケットデータSECフォームS-1所有権10年トップ株主インサイダー取引SECフォーム4SECフォーム13Dマネジメント10年リーダーシップ・チーム取締役会SECフォーム10-KSECフォームDEF 14A主な進展10年会社からのお知らせSECフォーム8-K* 米国証券を対象とした例であり、非米国証券については、同等の規制書式および情報源を使用。特に断りのない限り、すべての財務データは1年ごとの期間に基づいていますが、四半期ごとに更新されます。これは、TTM（Trailing Twelve Month）またはLTM（Last Twelve Month）データとして知られています。詳細はこちら。分析モデルとスノーフレークこのレポートを生成するために使用した分析モデルの詳細は、当社のGitHubページでご覧いただけます。また、レポートの活用方法に関するガイドやYouTubeのチュートリアルも用意しています。シンプリー・ウォールストリート分析モデルを設計・構築した世界トップクラスのチームについてご紹介します。業界およびセクターの指標私たちの業界とセクションの指標は、Simply Wall Stによって6時間ごとに計算されます。アナリスト筋Ta-Yuan Cogeneration Company Ltd. 0 これらのアナリストのうち、弊社レポートのインプットとして使用した売上高または利益の予想を提出したのは、 。アナリストの投稿は一日中更新されます。1 アナリスト機関Jianhong WuCapital Securities Corporation
Upcoming Dividend • 49mUpcoming dividend of NT$1.60 per shareEligible shareholders must have bought the stock before 30 July 2026. Payment date: 27 August 2026. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 3.8%. Lower than top quartile of Taiwanese dividend payers (5.0%). In line with average of industry peers (4.0%).
Declared Dividend • May 29Dividend reduced to NT$1.60Dividend of NT$1.60 is 20% lower than last year. Ex-date: 30th July 2026 Payment date: 27th August 2026 Dividend yield will be 3.8%, which is higher than the industry average of 1.9%. Sustainability & Growth Dividend is covered by earnings (86% 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 14% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 1.2% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover.
Reported Earnings • May 07First quarter 2026 earnings released: EPS: NT$0.38 (vs NT$0.74 in 1Q 2025)First quarter 2026 results: EPS: NT$0.38 (down from NT$0.74 in 1Q 2025). Revenue: NT$620.8m (flat on 1Q 2025). Net income: NT$46.9m (down 48% from 1Q 2025). Profit margin: 7.6% (down from 15% in 1Q 2025). Over the last 3 years on average, earnings per share has fallen by 19% per year whereas the company’s share price has fallen by 15% per year.
Reported Earnings • Mar 12Full year 2025 earnings released: EPS: NT$1.87 (vs NT$2.32 in FY 2024)Full year 2025 results: EPS: NT$1.87 (down from NT$2.32 in FY 2024). Revenue: NT$2.47b (down 1.7% from FY 2024). Net income: NT$228.7m (down 19% from FY 2024). Profit margin: 9.2% (down from 11% in FY 2024). Over the last 3 years on average, earnings per share has fallen by 15% 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.
お知らせ • Mar 09Ta-Yuan Cogeneration Company Ltd., Annual General Meeting, May 26, 2026Ta-Yuan Cogeneration Company Ltd., Annual General Meeting, May 26, 2026. Location: no,276, ch`ao yin n. rd., dayuan dist., taoyuan city Taiwan
Reported Earnings • Nov 06Third quarter 2025 earnings released: EPS: NT$0.40 (vs NT$0.71 in 3Q 2024)Third quarter 2025 results: EPS: NT$0.40 (down from NT$0.71 in 3Q 2024). Revenue: NT$692.3m (up 2.1% from 3Q 2024). Net income: NT$49.0m (down 44% from 3Q 2024). Profit margin: 7.1% (down from 13% in 3Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 15% per year, which means it is well ahead of earnings.
Upcoming Dividend • 49mUpcoming dividend of NT$1.60 per shareEligible shareholders must have bought the stock before 30 July 2026. Payment date: 27 August 2026. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 3.8%. Lower than top quartile of Taiwanese dividend payers (5.0%). In line with average of industry peers (4.0%).
Declared Dividend • May 29Dividend reduced to NT$1.60Dividend of NT$1.60 is 20% lower than last year. Ex-date: 30th July 2026 Payment date: 27th August 2026 Dividend yield will be 3.8%, which is higher than the industry average of 1.9%. Sustainability & Growth Dividend is covered by earnings (86% 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 14% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 1.2% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover.
Reported Earnings • May 07First quarter 2026 earnings released: EPS: NT$0.38 (vs NT$0.74 in 1Q 2025)First quarter 2026 results: EPS: NT$0.38 (down from NT$0.74 in 1Q 2025). Revenue: NT$620.8m (flat on 1Q 2025). Net income: NT$46.9m (down 48% from 1Q 2025). Profit margin: 7.6% (down from 15% in 1Q 2025). Over the last 3 years on average, earnings per share has fallen by 19% per year whereas the company’s share price has fallen by 15% per year.
Reported Earnings • Mar 12Full year 2025 earnings released: EPS: NT$1.87 (vs NT$2.32 in FY 2024)Full year 2025 results: EPS: NT$1.87 (down from NT$2.32 in FY 2024). Revenue: NT$2.47b (down 1.7% from FY 2024). Net income: NT$228.7m (down 19% from FY 2024). Profit margin: 9.2% (down from 11% in FY 2024). Over the last 3 years on average, earnings per share has fallen by 15% 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.
お知らせ • Mar 09Ta-Yuan Cogeneration Company Ltd., Annual General Meeting, May 26, 2026Ta-Yuan Cogeneration Company Ltd., Annual General Meeting, May 26, 2026. Location: no,276, ch`ao yin n. rd., dayuan dist., taoyuan city Taiwan
Reported Earnings • Nov 06Third quarter 2025 earnings released: EPS: NT$0.40 (vs NT$0.71 in 3Q 2024)Third quarter 2025 results: EPS: NT$0.40 (down from NT$0.71 in 3Q 2024). Revenue: NT$692.3m (up 2.1% from 3Q 2024). Net income: NT$49.0m (down 44% from 3Q 2024). Profit margin: 7.1% (down from 13% in 3Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 15% per year, which means it is well ahead of earnings.
Reported Earnings • Aug 06Second quarter 2025 earnings released: EPS: NT$0.70 (vs NT$0.58 in 2Q 2024)Second quarter 2025 results: EPS: NT$0.70 (up from NT$0.58 in 2Q 2024). Revenue: NT$595.5m (down 3.1% from 2Q 2024). Net income: NT$85.6m (up 21% from 2Q 2024). Profit margin: 14% (up from 12% in 2Q 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 21% per year, which means it is tracking significantly ahead of earnings growth.
Upcoming Dividend • Jul 23Upcoming dividend of NT$2.00 per shareEligible shareholders must have bought the stock before 30 July 2025. Payment date: 28 August 2025. Payout ratio is on the higher end at 75% but the company is not cash flow positive. Trailing yield: 3.8%. Lower than top quartile of Taiwanese dividend payers (5.3%). Higher than average of industry peers (2.9%).
Declared Dividend • May 31Dividend reduced to NT$2.00Dividend of NT$2.00 is 4.8% lower than last year. Ex-date: 30th July 2025 Payment date: 28th August 2025 Dividend yield will be 3.7%, which is higher than the industry average of 1.9%. Sustainability & Growth Dividend is covered by earnings (75% 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 16% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 14% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover.
Reported Earnings • May 08First quarter 2025 earnings released: EPS: NT$0.74 (vs NT$0.41 in 1Q 2024)First quarter 2025 results: EPS: NT$0.74 (up from NT$0.41 in 1Q 2024). Revenue: NT$619.3m (up 8.1% from 1Q 2024). Net income: NT$90.3m (up 81% from 1Q 2024). Profit margin: 15% (up from 8.7% 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 9% per year but the company’s share price has increased by 17% per year, which means it is tracking significantly ahead of earnings growth.
お知らせ • May 01Ta-Yuan Cogeneration Company Ltd. to Report Q1, 2025 Results on May 07, 2025Ta-Yuan Cogeneration Company Ltd. announced that they will report Q1, 2025 results on May 07, 2025
New Risk • Apr 02New major risk - Financial positionThe company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 19% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (19% operating cash flow to total debt). Dividend is not well covered by earnings and cash flows. Payout ratio: 98% Paying a dividend despite having no free cash flows.
お知らせ • Mar 13Ta-Yuan Cogeneration Company Ltd., Annual General Meeting, May 28, 2025Ta-Yuan Cogeneration Company Ltd., Annual General Meeting, May 28, 2025, at 09:00 Taipei Standard Time. Location: no,276, ch`ao yin n. rd., dayuan dist., taoyuan city Taiwan
お知らせ • Mar 01Ta-Yuan Cogeneration Company Ltd. to Report Q4, 2024 Results on Mar 07, 2025Ta-Yuan Cogeneration Company Ltd. announced that they will report Q4, 2024 results on Mar 07, 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.
お知らせ • Oct 29Ta-Yuan Cogeneration Company Ltd. to Report Q3, 2024 Results on Nov 05, 2024Ta-Yuan Cogeneration Company Ltd. announced that they will report Q3, 2024 results on Nov 05, 2024
Reported Earnings • Aug 17Second quarter 2024 earnings: EPS and revenues miss analyst expectationsSecond quarter 2024 results: EPS: NT$0.58 (up from NT$0.33 in 2Q 2023). Revenue: NT$614.8m (down 6.9% from 2Q 2023). Net income: NT$71.0m (up 77% from 2Q 2023). Profit margin: 12% (up from 6.1% in 2Q 2023). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 17%. Earnings per share (EPS) also missed analyst estimates by 9.4%. Revenue is forecast to grow 19% p.a. on average during the next 2 years, compared to a 10.0% growth forecast for the Renewable Energy industry in Asia. 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 18% per year.
お知らせ • Jul 31Ta-Yuan Cogeneration Company Ltd. Announces Change in Representative of the Its Institutional Director, Effective August 1, 2024Ta-Yuan Cogeneration Company Ltd. announced change in representative of the Company's institutional director. Name of the previous position holder: Yi-Tong Chen. Resume of the previous position holder: General Manager of Taiwan Cogeneration Corporation. Name of the new position holder: Tien-Te Cheng. Resume of the new position holder: Professional Chief Engineer of Taiwan Power Company. Reason for the change: Taiwan Cogeneration Corporation assigned a new representative to serve as institutional director. Effective date of the new appointment: August 1, 2024.
お知らせ • Jul 30Ta-Yuan Cogeneration Company Ltd. to Report Q2, 2024 Results on Aug 06, 2024Ta-Yuan Cogeneration Company Ltd. announced that they will report Q2, 2024 results on Aug 06, 2024
Upcoming Dividend • Jul 18Upcoming dividend of NT$2.10 per shareEligible shareholders must have bought the stock before 25 July 2024. Payment date: 26 August 2024. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 3.9%. Lower than top quartile of Taiwanese dividend payers (4.2%). Higher than average of industry peers (2.2%).
お知らせ • May 30Ta-Yuan Cogeneration Company Ltd. Approves Cash Dividend, Payable on August 26, 2024Ta-Yuan Cogeneration Company Ltd. approved the cash dividend of TWD 256,735,210. Ex-rights (Ex-dividend) date is July 25, 2024. Ex-rights (Ex-dividend) record date is July 31, 2024. Payment date of cash dividend distribution on August 26, 2024. Date of the resolution by the board of directors or shareholders meeting, or of the decision by the company: May 29, 2024.
Reported Earnings • May 19First quarter 2024 earnings: EPS exceeds analyst expectations while revenues lag behindFirst quarter 2024 results: EPS: NT$0.41 (down from NT$0.78 in 1Q 2023). Revenue: NT$572.9m (down 28% from 1Q 2023). Net income: NT$49.8m (down 48% from 1Q 2023). Profit margin: 8.7% (down from 12% in 1Q 2023). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 4.8%. Earnings per share (EPS) exceeded analyst estimates by 52%. Revenue is forecast to grow 16% p.a. on average during the next 2 years, compared to a 9.2% growth forecast for the Renewable Energy industry in Asia. Over the last 3 years on average, earnings per share has increased by 25% per year whereas the company’s share price has increased by 21% per year.
お知らせ • May 09Ta-Yuan Cogeneration Company Ltd. Announces Chairman ChangesTa-Yuan Cogeneration Company Ltd. announced Chairman changes. Name of the previous position holder: Shih-Yang Chang(deputy chairman). Resume of the previous position holder: General manager and director of Ta-Yuan Cogeneration Corporation. Name of the new position holder: Yi-Tung Chen 6.Resume of the new position holder: General manager of Taiwan Cogeneration Corporation. Reason for the change: The seventh meeting of the 11th Board of Directors to elect Yi-Tung Chen director as Chairman on May 8, 2024. Effective date of the new appointment: May 8, 2024.
Buy Or Sell Opportunity • Apr 15Now 21% overvalued after recent price riseOver the last 90 days, the stock has risen 7.5% to NT$51.30. The fair value is estimated to be NT$42.50, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 21% over the last 3 years. Earnings per share has grown by 31%. Revenue is forecast to grow by 24% in 2 years. Earnings are forecast to grow by 37% in the next 2 years.
Reported Earnings • Mar 17Full year 2023 earnings: EPS misses analyst expectationsFull year 2023 results: EPS: NT$2.32 (down from NT$3.01 in FY 2022). Revenue: NT$2.72b (down 5.0% from FY 2022). Net income: NT$283.3m (down 23% from FY 2022). Profit margin: 10% (down from 13% in FY 2022). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 2.1%. Revenue is forecast to grow 10% p.a. on average during the next 2 years, compared to a 9.4% growth forecast for the Renewable Energy industry in Asia. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth.
お知らせ • Mar 06Ta-Yuan Cogeneration Company Ltd., Annual General Meeting, May 29, 2024Ta-Yuan Cogeneration Company Ltd., Annual General Meeting, May 29, 2024. Location: No. 276, Chaoyin N. Rd.Dayuan Dist Taoyuan City Taiwan Agenda: To consider and approve the 2023 business report; to consider and approve the 2023 Audit Committee's review report; to consider and approve the Report on 2023 employees remuneration; to consider and approve the other matters of business.
Valuation Update With 7 Day Price Move • Feb 22Investor sentiment improves as stock rises 19%After last week's 19% share price gain to NT$58.60, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 10x in the Renewable Energy industry in Asia. Total returns to shareholders of 124% over the past three years.
Board Change • Jan 17Less than half of directors are independentFollowing the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Chih-Liang Lee was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
お知らせ • Jan 16Ta-Yuan Cogeneration Company Ltd. Announces the Change of ChairpersonTa-Yuan Cogeneration Company Ltd. announced the change of chairperson. Name of the previous position holder: Chung-Cheng Lee. Resume of the previous position holder: Unpaid consultant of Taiwan Cogeneration Corporation. Name of the new position holder: Shih-Yang Chang 6.Resume of the new position holder: General manager and director of Ta-Yuan Cogeneration Corporation Reason for the change: Taiwan Cogeneration Corporation assigned a new representative to serve as institutional director and held the fifth meeting of the 11th Board of Directors to elect Shih-Yang Chang director as Acting Chairman on January 15, 2024. Effective date of the new appointment: January 15, 2024.
Valuation Update With 7 Day Price Move • Nov 20Investor sentiment improves as stock rises 16%After last week's 16% share price gain to NT$49.70, the stock trades at a trailing P/E ratio of 16.4x. Average trailing P/E is 17x in the Renewable Energy industry in Taiwan. Total returns to shareholders of 87% over the past three years.
Reported Earnings • Aug 04Second quarter 2023 earnings released: EPS: NT$0.33 (vs NT$0.40 in 2Q 2022)Second quarter 2023 results: EPS: NT$0.33 (down from NT$0.40 in 2Q 2022). Revenue: NT$660.3m (up 15% from 2Q 2022). Net income: NT$40.1m (down 18% from 2Q 2022). Profit margin: 6.1% (down from 8.5% 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 34% per year but the company’s share price has only increased by 24% per year, which means it is significantly lagging earnings growth.
お知らせ • Aug 02+ 1 more updateTa-Yuan Cogeneration Company Ltd. Announces Remuneration Committee ChangesTa-Yuan Cogeneration Company Ltd. announced members of the company’s 5nd Remuneration Committee. .Name of the previous position holder: Independent director: Kua-Teng Su and Independent director: Chun-Tsai Hung. Resume of the previous position holder: Kua-Teng Su/Adjunct professor, National Chengchi University and Chun-Tsai Hung/General manager, Sun Favorite Co. Ltd. Name of the new position holder: Independent director: Chih-liang Lee and Independent director: Yung-Jen Huang. Resume of the new position holder: Chih-liang Lee/General manager, Cheng Loong Binh Duong Paper Co. Ltd. and Yung-Jen Huang/Director, Taoyuan Private Baby Potential Development Center. Reason for the change: Appointed by the board of directors after the expiration of the term. date of the new member: August 1, 2023.
Upcoming Dividend • Jun 20Upcoming dividend of NT$2.50 per share at 3.8% yieldEligible shareholders must have bought the stock before 27 June 2023. Payment date: 25 July 2023. Payout ratio is a comfortable 68% and this is well supported by cash flows. Trailing yield: 3.8%. Lower than top quartile of Taiwanese dividend payers (5.5%). Higher than average of industry peers (1.9%).
Reported Earnings • Mar 26Full year 2022 earnings released: EPS: NT$3.01 (vs NT$1.39 in FY 2021)Full year 2022 results: EPS: NT$3.01 (up from NT$1.39 in FY 2021). Revenue: NT$2.86b (up 43% from FY 2021). Net income: NT$368.1m (up 116% from FY 2021). Profit margin: 13% (up from 8.5% 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 15% per year but the company’s share price has increased by 42% per year, which means it is tracking significantly ahead of earnings growth.
Valuation Update With 7 Day Price Move • Mar 23Investor sentiment improves as stock rises 16%After last week's 16% share price gain to NT$69.40, the stock trades at a trailing P/E ratio of 37x. Average trailing P/E is 28x in the Renewable Energy industry in Taiwan. Total returns to shareholders of 234% over the past three years.
Valuation Update With 7 Day Price Move • Feb 06Investor sentiment improves as stock rises 16%After last week's 16% share price gain to NT$53.00, the stock trades at a trailing P/E ratio of 28.2x. Average trailing P/E is 26x in the Renewable Energy industry in Taiwan. Total returns to shareholders of 117% over the past three years.
Board Change • Nov 16Less than half of directors are independentFollowing the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 5 non-independent directors. Independent Director Guang-Yu Li was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
Reported Earnings • Nov 11Third quarter 2022 earnings released: EPS: NT$1.38 (vs NT$0.48 in 3Q 2021)Third quarter 2022 results: EPS: NT$1.38 (up from NT$0.48 in 3Q 2021). Revenue: NT$900.2m (up 51% from 3Q 2021). Net income: NT$168.9m (up 187% from 3Q 2021). Profit margin: 19% (up from 9.9% in 3Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 5% per year whereas the company’s share price has increased by 9% per year.
Buying Opportunity • Sep 26Now 22% undervaluedThe stock has been flat over the last 90 days. The fair value is estimated to be NT$38.74, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.8% over the last 3 years. Earnings per share has grown by 3.4%.
Buying Opportunity • Sep 06Now 20% undervaluedOver the last 90 days, the stock is up 2.0%. The fair value is estimated to be NT$38.74, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.8% over the last 3 years. Earnings per share has grown by 3.4%.
Reported Earnings • Aug 15Second quarter 2022 earnings released: EPS: NT$0.40 (vs NT$0.60 in 2Q 2021)Second quarter 2022 results: EPS: NT$0.40 (down from NT$0.60 in 2Q 2021). Revenue: NT$575.4m (up 11% from 2Q 2021). Net income: NT$48.8m (down 33% from 2Q 2021). Profit margin: 8.5% (down from 14% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has increased by 4% per year.
Upcoming Dividend • Jul 14Upcoming dividend of NT$1.50 per shareEligible shareholders must have bought the stock before 21 July 2022. Payment date: 25 August 2022. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 5.1%. Lower than top quartile of Taiwanese dividend payers (6.8%). Higher than average of industry peers (3.0%).
お知らせ • Jun 17+ 2 more updatesTa-Yuan Cogeneration Company Ltd. Announces Company's New Audit Committee MemberTa-Yuan Cogeneration Company Ltd. announced appointment of Company's new Audit committee member. Name of the new position holder is GUANG-YU LI. Resume of the new position holder: The manager of industrial paper's production and sales in Cheng Loong Corp. Effective date of the new member is June 16, 2022.
Buying Opportunity • Jun 09Now 20% undervalued after recent price dropOver the last 90 days, the stock is down 3.7%. The fair value is estimated to be NT$37.91, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.0% over the last 3 years. Earnings per share has grown by 8.5%.
Buying Opportunity • May 17Now 20% undervalued after recent price dropOver the last 90 days, the stock is down 4.1%. The fair value is estimated to be NT$38.42, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.0% over the last 3 years. Earnings per share has grown by 8.6%.
Reported Earnings • May 05First quarter 2022 earnings released: EPS: NT$0.09 (vs NT$0.31 in 1Q 2021)First quarter 2022 results: EPS: NT$0.09 (down from NT$0.31 in 1Q 2021). Revenue: NT$457.8m (up 14% from 1Q 2021). Net income: NT$10.4m (down 72% from 1Q 2021). Profit margin: 2.3% (down from 9.3% in 1Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 9% per year and the company’s share price has also increased by 9% per year.
Board Change • Apr 27Less than half of directors are independentFollowing the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 5 non-independent directors. Independent Director Chun-Tsai Hung was the last independent director to join the board, commencing their role in 2017. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
Reported Earnings • Mar 13Full year 2021 earnings: Revenues and EPS in line with analyst expectationsFull year 2021 results: EPS: NT$1.39 (down from NT$1.49 in FY 2020). Revenue: NT$2.00b (up 8.4% from FY 2020). Net income: NT$170.4m (down 6.5% from FY 2020). Profit margin: 8.5% (down from 9.9% in FY 2020). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. 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 10% per year.
お知らせ • Feb 18+ 2 more updatesTa-Yuan Cogeneration Company Ltd. Announces Demise of Bao-Guang Chang, Convener of Audit CommitteeTa-Yuan Cogeneration Company Ltd. announced the demise of Bao-Guang Chang, convener of Audit Committee.
Reported Earnings • Nov 05Third quarter 2021 earnings released: EPS NT$0.48 (vs NT$0.54 in 3Q 2020)The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: NT$596.2m (up 22% from 3Q 2020). Net income: NT$58.8m (down 10% from 3Q 2020). Profit margin: 9.9% (down from 13% in 3Q 2020). The decrease in margin was driven by higher expenses. 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 15% per year.
Reported Earnings • Aug 05Second quarter 2021 earnings released: EPS NT$0.60 (vs NT$0.22 in 2Q 2020)The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: NT$518.1m (up 11% from 2Q 2020). Net income: NT$72.9m (up 175% from 2Q 2020). Profit margin: 14% (up from 5.7% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 16% per year whereas the company’s share price has increased by 12% per year.
Upcoming Dividend • Aug 05Upcoming dividend of NT$1.40 per shareEligible shareholders must have bought the stock before 12 August 2021. Payment date: 08 September 2021. Trailing yield: 4.4%. Lower than top quartile of Taiwanese dividend payers (4.9%). Higher than average of industry peers (3.6%).
Reported Earnings • May 09First quarter 2021 earnings released: EPS NT$0.31 (vs NT$0.37 in 1Q 2020)The company reported a poor first quarter result with weaker earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$403.0m (down 3.3% from 1Q 2020). Net income: NT$37.4m (down 17% from 1Q 2020). Profit margin: 9.3% (down from 11% in 1Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth.
Reported Earnings • Mar 18Full year 2020 earnings released: EPS NT$1.49 (vs NT$1.20 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$1.84b (up 13% from FY 2019). Net income: NT$182.2m (up 24% from FY 2019). Profit margin: 9.9% (in line with FY 2019). Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth.
分析記事 • Feb 25These 4 Measures Indicate That Ta-Yuan Cogeneration (GTSM:8931) Is Using Debt ExtensivelyWarren Buffett famously said, 'Volatility is far from synonymous with risk.' So it seems the smart money knows that...
分析記事 • Jan 28Shareholders Of Ta-Yuan Cogeneration (GTSM:8931) Must Be Happy With Their 80% ReturnIf you buy and hold a stock for many years, you'd hope to be making a profit. Better yet, you'd like to see the share...
分析記事 • Dec 17Here’s What’s Happening With Returns At Ta-Yuan Cogeneration (GTSM:8931)If we want to find a stock that could multiply over the long term, what are the underlying trends we should look for...
分析記事 • Nov 18Ta-Yuan Cogeneration's (GTSM:8931) Earnings Are Growing But Is There More To The Story?It might be old fashioned, but we really like to invest in companies that make a profit, each and every year. Having...
Is New 90 Day High Low • Nov 14New 90-day high: NT$29.70The company is up 6.0% from its price of NT$28.00 on 14 August 2020. The Taiwanese market is up 3.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Renewable Energy industry, which is up 7.0% over the same period.
Reported Earnings • Nov 05Third quarter 2020 earnings released: EPS NT$0.54The company reported a solid third quarter result with improved earnings and revenues, although profit margins were flat. Third quarter 2020 results: Revenue: NT$488.9m (up 18% from 3Q 2019). Net income: NT$65.4m (up 17% from 3Q 2019). Profit margin: 13% (in line with 3Q 2019). 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 13% per year.
Is New 90 Day High Low • Oct 30New 90-day high: NT$29.35The company is up 6.0% from its price of NT$27.70 on 31 July 2020. The Taiwanese market is flat over the last 90 days, indicating the company outperformed over that time. It also outperformed the Renewable Energy industry, which is up 1.0% over the same period.
