VSO Electronics (6913) 주식 개요는 대만에서 와이어 하네스 및 케이블 조립 사업을 영위하는 기업입니다. 자세히 보기6913 펀더멘털 분석스노우플레이크 점수가치 평가1/6미래 성장0/6과거 실적2/6재무 건전성5/6배당2/6강점가격 대비 수익 비율(25.5x)은 Electrical 업계 평균(26.4x)보다 낮습니다.위험 분석지난 5년간 매년 수익이 4.7% 감소했습니다.2.02% 의 배당금은 잉여현금흐름으로 잘 충당되지 않습니다.모든 위험 점검 보기6913 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$123.5035.0% 저평가 내재 할인율Growth estimate overAnnual revenue growth rate5 Yearstime period%/yrDecreaseIncreasePastFuture06b2016201920222025202620282031Revenue NT$6.2bEarnings NT$475.4mAdvancedSet Fair ValueView all narrativesVSO Electronics Co., Ltd. 경쟁사China Wire & CableSymbol: TWSE:1603Market cap: NT$5.0bEvertop Wire CableSymbol: TWSE:1616Market cap: NT$4.2bWave Power TechnologySymbol: TPEX:6895Market cap: NT$5.5bHold-Key Electric Wire & CableSymbol: TWSE:1618Market cap: NT$8.2b가격 이력 및 성과VSO Electronics 주가의 최고가, 최저가 및 변동 요약과거 주가현재 주가NT$123.5052주 최고가NT$161.5052주 최저가NT$100.50베타0.571개월 변동-11.79%3개월 변동10.76%1년 변동3.77%3년 변동62.54%5년 변동n/aIPO 이후 변동48.31%최근 뉴스 및 업데이트Upcoming Dividend • Jun 03Upcoming dividend of NT$2.50 per shareEligible shareholders must have bought the stock before 10 June 2026. Payment date: 06 July 2026. Payout ratio is a comfortable 52% but the company is paying out more than the cash it is generating. Trailing yield: 1.9%. Lower than top quartile of Taiwanese dividend payers (4.9%). Lower than average of industry peers (2.3%).Reported Earnings • May 19First quarter 2026 earnings released: EPS: NT$1.58 (vs NT$1.07 in 1Q 2025)First quarter 2026 results: EPS: NT$1.58 (up from NT$1.07 in 1Q 2025). Revenue: NT$712.4m (up 23% from 1Q 2025). Net income: NT$68.7m (up 47% from 1Q 2025). Profit margin: 9.6% (up from 8.1% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 16% p.a. on average during the next 2 years, compared to a 20% growth forecast for the Electrical industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings.Valuation Update With 7 Day Price Move • Apr 27Investor sentiment improves as stock rises 16%After last week's 16% share price gain to NT$148, the stock trades at a trailing P/E ratio of 33.9x. Average forward P/E is 20x in the Electrical industry in Taiwan. Total returns to shareholders of 56% over the past three years.Valuation Update With 7 Day Price Move • Apr 10Investor sentiment improves as stock rises 18%After last week's 18% share price gain to NT$126, the stock trades at a trailing P/E ratio of 29.1x. Average trailing P/E is 27x in the Electrical industry in Taiwan. Total returns to shareholders of 15% over the past three years.Reported Earnings • Mar 15Full year 2025 earnings released: EPS: NT$4.34 (vs NT$4.55 in FY 2024)Full year 2025 results: EPS: NT$4.34. Revenue: NT$2.63b (up 22% from FY 2024). Net income: NT$189.5m (up 2.1% from FY 2024). Profit margin: 7.2% (down from 8.6% in FY 2024). The decrease in margin was driven by higher expenses.New Risk • Mar 13New 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: 1.8% 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 Risks Earnings have declined by 0.3% per year over the past 5 years. High level of non-cash earnings (35% accrual ratio). Minor Risk Paying a dividend despite having no free cash flows.더 많은 업데이트 보기Recent updatesUpcoming Dividend • Jun 03Upcoming dividend of NT$2.50 per shareEligible shareholders must have bought the stock before 10 June 2026. Payment date: 06 July 2026. Payout ratio is a comfortable 52% but the company is paying out more than the cash it is generating. Trailing yield: 1.9%. Lower than top quartile of Taiwanese dividend payers (4.9%). Lower than average of industry peers (2.3%).Reported Earnings • May 19First quarter 2026 earnings released: EPS: NT$1.58 (vs NT$1.07 in 1Q 2025)First quarter 2026 results: EPS: NT$1.58 (up from NT$1.07 in 1Q 2025). Revenue: NT$712.4m (up 23% from 1Q 2025). Net income: NT$68.7m (up 47% from 1Q 2025). Profit margin: 9.6% (up from 8.1% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 16% p.a. on average during the next 2 years, compared to a 20% growth forecast for the Electrical industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings.Valuation Update With 7 Day Price Move • Apr 27Investor sentiment improves as stock rises 16%After last week's 16% share price gain to NT$148, the stock trades at a trailing P/E ratio of 33.9x. Average forward P/E is 20x in the Electrical industry in Taiwan. Total returns to shareholders of 56% over the past three years.Valuation Update With 7 Day Price Move • Apr 10Investor sentiment improves as stock rises 18%After last week's 18% share price gain to NT$126, the stock trades at a trailing P/E ratio of 29.1x. Average trailing P/E is 27x in the Electrical industry in Taiwan. Total returns to shareholders of 15% over the past three years.Reported Earnings • Mar 15Full year 2025 earnings released: EPS: NT$4.34 (vs NT$4.55 in FY 2024)Full year 2025 results: EPS: NT$4.34. Revenue: NT$2.63b (up 22% from FY 2024). Net income: NT$189.5m (up 2.1% from FY 2024). Profit margin: 7.2% (down from 8.6% in FY 2024). The decrease in margin was driven by higher expenses.New Risk • Mar 13New 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: 1.8% 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 Risks Earnings have declined by 0.3% per year over the past 5 years. High level of non-cash earnings (35% accrual ratio). Minor Risk Paying a dividend despite having no free cash flows.공시 • Jan 21VSO Electronics Co., Ltd., Annual General Meeting, May 12, 2026VSO Electronics Co., Ltd., Annual General Meeting, May 12, 2026. Location: 13 floor no,95, sec.2 chung hsiao e. rd., taipei city TaiwanNew Risk • Nov 20New major risk - Share price stabilityThe company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Taiwanese stocks, typically moving 8.6% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (8.6% average weekly change). Earnings have declined by 0.3% per year over the past 5 years. High level of non-cash earnings (35% accrual ratio).Reported Earnings • Nov 12Third quarter 2025 earnings released: EPS: NT$1.57 (vs NT$1.07 in 3Q 2024)Third quarter 2025 results: EPS: NT$1.57 (up from NT$1.07 in 3Q 2024). Revenue: NT$727.0m (up 27% from 3Q 2024). Net income: NT$68.3m (up 60% from 3Q 2024). Profit margin: 9.4% (up from 7.5% in 3Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has increased by 18% per year, which means it is well ahead of earnings.Valuation Update With 7 Day Price Move • Nov 10Investor sentiment deteriorates as stock falls 20%After last week's 20% share price decline to NT$119, the stock trades at a trailing P/E ratio of 25.4x. Average trailing P/E is 27x in the Electrical industry in Taiwan. Total returns to shareholders of 75% over the past three years.Valuation Update With 7 Day Price Move • Sep 02Investor sentiment improves as stock rises 16%After last week's 16% share price gain to NT$142, the stock trades at a trailing P/E ratio of 30.5x. Average trailing P/E is 23x in the Electrical industry in Taiwan. Total returns to shareholders of 22% over the past year.Reported Earnings • Aug 16Second quarter 2025 earnings released: EPS: NT$0.78 (vs NT$0.99 in 2Q 2024)Second quarter 2025 results: EPS: NT$0.78 (down from NT$0.99 in 2Q 2024). Revenue: NT$647.9m (up 25% from 2Q 2024). Net income: NT$33.9m (down 14% from 2Q 2024). Profit margin: 5.2% (down from 7.6% in 2Q 2024). The decrease in margin was driven by higher expenses.New Risk • Jul 11New major risk - Share price stabilityThe company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Taiwanese stocks, typically moving 8.2% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (8.2% average weekly change). Earnings have declined by 2.8% per year over the past 5 years. High level of non-cash earnings (49% accrual ratio).Upcoming Dividend • Jun 24Upcoming dividend of NT$2.01 per shareEligible shareholders must have bought the stock before 01 July 2025. Payment date: 21 July 2025. Payout ratio is a comfortable 38% but the company is not cash flow positive. Trailing yield: 1.6%. Lower than top quartile of Taiwanese dividend payers (5.3%). Lower than average of industry peers (2.8%).Valuation Update With 7 Day Price Move • Jun 23Investor sentiment improves as stock rises 21%After last week's 21% share price gain to NT$129, the stock trades at a trailing P/E ratio of 25.7x. Average trailing P/E is 20x in the Electrical industry in Taiwan. Total returns to shareholders of 4.0% over the past year.Reported Earnings • May 14First quarter 2025 earnings released: EPS: NT$1.12 (vs NT$0.64 in 1Q 2024)First quarter 2025 results: EPS: NT$1.12 (up from NT$0.64 in 1Q 2024). Revenue: NT$578.6m (up 38% from 1Q 2024). Net income: NT$46.9m (up 93% from 1Q 2024). Profit margin: 8.1% (up from 5.8% in 1Q 2024). The increase in margin was driven by higher revenue.공시 • May 03VSO Electronics Co., Ltd. to Report Q1, 2025 Results on May 12, 2025VSO Electronics Co., Ltd. announced that they will report Q1, 2025 results on May 12, 2025Valuation Update With 7 Day Price Move • Apr 08Investor sentiment deteriorates as stock falls 17%After last week's 17% share price decline to NT$106, the stock trades at a trailing P/E ratio of 23.7x. Average trailing P/E is 17x in the Electrical industry in Taiwan. Total returns to shareholders of 44% over the past year.Reported Earnings • Mar 20Full year 2024 earnings released: EPS: NT$4.78 (vs NT$3.05 in FY 2023)Full year 2024 results: EPS: NT$4.78 (up from NT$3.05 in FY 2023). Revenue: NT$2.16b (up 19% from FY 2023). Net income: NT$185.6m (up 62% from FY 2023). Profit margin: 8.6% (up from 6.3% in FY 2023). The increase in margin was driven by higher revenue.공시 • Mar 01VSO Electronics Co., Ltd. Announces the Retirement of Roger Tsai as CEO, Effective March 31, 2025VSO Electronics Co., Ltd. announced the retirement of Roger Tsai as CEO of the Company, effective March 31, 2025.Valuation Update With 7 Day Price Move • Feb 12Investor sentiment improves as stock rises 26%After last week's 26% share price gain to NT$152, the stock trades at a trailing P/E ratio of 54.1x. Average trailing P/E is 21x in the Electrical industry in Taiwan. Total returns to shareholders of 104% over the past year.공시 • Jan 17VSO Electronics Co., Ltd., Annual General Meeting, May 12, 2025VSO Electronics Co., Ltd., Annual General Meeting, May 12, 2025. Location: 13 floor no,95, sec.2 chung hsiao e. rd., taipei city TaiwanNew Risk • Dec 05New major risk - Share price stabilityThe company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Taiwanese stocks, typically moving 8.2% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (8.2% average weekly change). Earnings have declined by 4.9% per year over the past 5 years. High level of non-cash earnings (22% accrual ratio). Minor Risks Profit margins are more than 30% lower than last year (6.0% net profit margin). Shareholders have been diluted in the past year (11% increase in shares outstanding).Valuation Update With 7 Day Price Move • Dec 05Investor sentiment improves as stock rises 16%After last week's 16% share price gain to NT$149, the stock trades at a trailing P/E ratio of 52.7x. Average trailing P/E is 24x in the Electrical industry in Taiwan. Total returns to shareholders of 86% over the past year.Reported Earnings • Nov 19Third quarter 2024 earnings released: EPS: NT$1.12 (vs NT$0.63 in 3Q 2023)Third quarter 2024 results: EPS: NT$1.12 (up from NT$0.63 in 3Q 2023). Revenue: NT$572.3m (up 24% from 3Q 2023). Net income: NT$42.8m (up 81% from 3Q 2023). Profit margin: 7.5% (up from 5.1% in 3Q 2023). The increase in margin was driven by higher revenue.New Risk • Nov 09New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 11% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 0.5% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (7.1% average weekly change). Profit margins are more than 30% lower than last year (5.3% net profit margin). Shareholders have been diluted in the past year (11% increase in shares outstanding).New Risk • Nov 04New major risk - Share price stabilityThe company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Taiwanese stocks, typically moving 8.8% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (8.8% average weekly change). Earnings have declined by 0.5% per year over the past 5 years. Minor Risk Profit margins are more than 30% lower than last year (5.3% net profit margin).Valuation Update With 7 Day Price Move • Oct 22Investor sentiment improves as stock rises 15%After last week's 15% share price gain to NT$127, the stock trades at a trailing P/E ratio of 49.2x. Average trailing P/E is 25x in the Electrical industry in Taiwan. Total returns to shareholders of 64% over the past year.Valuation Update With 7 Day Price Move • Oct 04Investor sentiment deteriorates as stock falls 16%After last week's 16% share price decline to NT$107, the stock trades at a trailing P/E ratio of 41.2x. Average trailing P/E is 25x in the Electrical industry in Taiwan. Total returns to shareholders of 36% over the past year.Reported Earnings • Aug 17Second quarter 2024 earnings released: EPS: NT$1.04 (vs NT$0.49 in 2Q 2023)Second quarter 2024 results: EPS: NT$1.04 (up from NT$0.49 in 2Q 2023). Revenue: NT$519.0m (up 40% from 2Q 2023). Net income: NT$39.4m (up 114% from 2Q 2023). Profit margin: 7.6% (up from 5.0% in 2Q 2023). The increase in margin was driven by higher revenue.Valuation Update With 7 Day Price Move • Aug 05Investor sentiment deteriorates as stock falls 17%After last week's 17% share price decline to NT$109, the stock trades at a trailing P/E ratio of 53.6x. Average trailing P/E is 28x in the Electrical industry in Taiwan. Total returns to shareholders of 46% over the past year.Valuation Update With 7 Day Price Move • Jun 17Investor sentiment improves as stock rises 22%After last week's 22% share price gain to NT$123, the stock trades at a trailing P/E ratio of 60.3x. Average trailing P/E is 29x in the Electrical industry in Taiwan. Total returns to shareholders of 50% over the past year.Upcoming Dividend • Jun 05Upcoming dividend of NT$2.00 per shareEligible shareholders must have bought the stock before 12 June 2024. Payment date: 05 July 2024. Payout ratio is on the higher end at 76%, however this is supported by cash flows. Trailing yield: 2.0%. Lower than top quartile of Taiwanese dividend payers (4.3%). Lower than average of industry peers (2.5%).Reported Earnings • May 21First quarter 2024 earnings released: EPS: NT$0.64 (vs NT$1.07 in 1Q 2023)First quarter 2024 results: EPS: NT$0.64 (down from NT$1.07 in 1Q 2023). Revenue: NT$420.0m (down 7.2% from 1Q 2023). Net income: NT$24.2m (down 39% from 1Q 2023). Profit margin: 5.8% (down from 8.8% in 1Q 2023). The decrease in margin was driven by lower revenue.Buy Or Sell Opportunity • May 14Now 23% overvalued after recent price riseOver the last 90 days, the stock has risen 28% to NT$96.90. The fair value is estimated to be NT$79.03, however this is not to be taken as a sell recommendation but rather should be used as a guide only.Reported Earnings • Apr 09Full year 2023 earnings released: EPS: NT$3.05 (vs NT$9.90 in FY 2022)Full year 2023 results: EPS: NT$3.05 (down from NT$9.90 in FY 2022). Revenue: NT$1.82b (down 20% from FY 2022). Net income: NT$114.3m (down 68% from FY 2022). Profit margin: 6.3% (down from 16% in FY 2022). The decrease in margin was driven by lower revenue.New Risk • Feb 27New minor risk - Financial data availabilityThe company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Revenue has declined by 6.4% over the past year. Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Short dividend paying track record (1 year of continuous dividend payments). Market cap is less than US$100m (NT$2.86b market cap, or US$90.6m).공시 • Jan 11VSO Electronics Co., Ltd., Annual General Meeting, May 15, 2024VSO Electronics Co., Ltd., Annual General Meeting, May 15, 2024.New Risk • Aug 14New major risk - Revenue and earnings growthRevenue has declined by 6.4% over the past year. 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 revenues are declining, then it is difficult for the company to prevent its earnings from declining as well. A trend of falling revenue can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. 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 Risk Revenue has declined by 6.4% over the past year. Minor Risks Short dividend paying track record (less than a year of continuous dividend payments). Market cap is less than US$100m (NT$2.69b market cap, or US$84.2m).New Risk • Jun 21New minor risk - Market cap sizeThe company's market capitalization is less than US$100m. Market cap: NT$3.06b (US$98.8m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (24% accrual ratio). Minor Risks Short dividend paying track record (less than a year of continuous dividend payments). Share price has been volatile over the past 3 months (6.3% average weekly change). Market cap is less than US$100m (NT$3.06b market cap, or US$98.8m).Valuation Update With 7 Day Price Move • May 15Investor sentiment deteriorates as stock falls 17%After last week's 17% share price decline to NT$103, the stock trades at a trailing P/E ratio of 9.7x. Average trailing P/E is 15x in the Electrical industry in Taiwan.Reported Earnings • Apr 11Full year 2022 earnings released: EPS: NT$10.89 (vs NT$3.47 in FY 2021)Full year 2022 results: EPS: NT$10.89 (up from NT$3.47 in FY 2021). Revenue: NT$2.27b (up 7.3% from FY 2021). Net income: NT$360.3m (up 237% from FY 2021). Profit margin: 16% (up from 5.0% in FY 2021). The increase in margin was primarily driven by higher revenue.Buying Opportunity • Mar 28Now 20% undervaluedOver the last 90 days, the stock is up 30%. The fair value is estimated to be NT$163, however this is not to be taken as a buy recommendation but rather should be used as a guide only.Valuation Update With 7 Day Price Move • Mar 27Investor sentiment improves as stock rises 17%After last week's 17% share price gain to NT$133, the stock trades at a trailing P/E ratio of 21.1x. Average trailing P/E is 15x in the Electrical industry in Taiwan.공시 • Jan 14VSO Electronics Co., Ltd., Annual General Meeting, May 11, 2023VSO Electronics Co., Ltd., Annual General Meeting, May 11, 2023.주주 수익률6913TW ElectricalTW 시장7D-0.4%0.2%5.2%1Y3.8%42.8%117.9%전체 주주 수익률 보기수익률 대 산업: 6913은 지난 1년 동안 42.8%의 수익을 기록한 TW Electrical 산업보다 저조한 성과를 냈습니다.수익률 대 시장: 6913은 지난 1년 동안 117.9%를 기록한 TW 시장보다 저조한 성과를 냈습니다.주가 변동성Is 6913's price volatile compared to industry and market?6913 volatility6913 Average Weekly Movement7.7%Electrical Industry Average Movement7.1%Market Average Movement6.4%10% most volatile stocks in TW Market12.1%10% least volatile stocks in TW Market2.6%안정적인 주가: 6913는 지난 3개월 동안 TW 시장에 비해 주가 변동성이 크지 않았습니다.시간에 따른 변동성: 6913의 주간 변동성(8%)은 지난 1년 동안 안정적이었습니다.회사 소개설립직원 수CEO웹사이트1994n/aStar Linwww.vso-corp.com는 대만에서 와이어 하네스 및 케이블 조립 사업을 영위하고 있습니다. 이 회사는 산업, 서버 및 스토리지, 의료, 자동차, 재생 에너지 및 통신 부문을 위한 케이블을 제공합니다. 1994년에 설립되었으며 대만 신베이시에 본사를 두고 있습니다.더 보기VSO Electronics Co., Ltd. 기초 지표 요약VSO Electronics의 순이익과 매출은 시가총액과 어떻게 비교됩니까?6913 기초 통계시가총액NT$5.47b순이익 (TTM)NT$211.36m매출 (TTM)NT$2.77b25.5x주가수익비율(P/E)1.9x주가매출비율(P/S)6913는 고평가되어 있습니까?공정 가치 및 평가 분석 보기순이익 및 매출최근 실적 보고서(TTM)의 주요 수익성 지표6913 손익계산서 (TTM)매출NT$2.77b매출원가NT$2.01b총이익NT$758.58m기타 비용NT$547.22m순이익NT$211.36m최근 보고된 실적Mar 31, 2026다음 실적 발표일해당 없음주당순이익(EPS)4.85총이익률27.43%순이익률7.64%부채/자본 비율42.9%6913의 장기 실적은 어땠습니까?과거 실적 및 비교 보기배당2.0%현재 배당 수익률52%배당 성향6913는 안정적으로 배당을 지급합니까?6913 배당 기록 및 벤치마크 보기다가오는 배당을 받으려면 언제까지 6913를 매수해야 하나요?VSO Electronics 배당 일정배당락일Jun 10 2026배당 지급일Jul 06 2026배당락일까지 남은 일수14 days배당 지급일까지 남은 일수12 days6913는 안정적으로 배당을 지급합니까?6913 배당 기록 및 벤치마크 보기View Valuation기업 분석 및 재무 데이터 상태데이터최종 업데이트 (UTC 시간)기업 분석2026/06/23 02:33종가2026/06/23 00:00수익2026/03/31연간 수익2025/12/31데이터 소스당사의 기업 분석에 사용되는 데이터는 S&P Global Market Intelligence LLC에서 제공됩니다. 아래 데이터는 이 보고서를 생성하기 위해 분석 모델에서 사용됩니다. 데이터는 정규화되므로 소스가 제공된 후 지연이 발생할 수 있습니다.패키지데이터기간미국 소스 예시 *기업 재무제표10년손익계산서현금흐름표대차대조표SEC 양식 10-KSEC 양식 10-Q분석가 컨센서스 추정치+3년재무 예측분석가 목표주가분석가 리서치 보고서Blue Matrix시장 가격30년주가배당, 분할 및 기타 조치ICE 시장 데이터SEC 양식 S-1지분 구조10년주요 주주내부자 거래SEC 양식 4SEC 양식 13D경영진10년리더십 팀이사회SEC 양식 10-KSEC 양식 DEF 14A주요 개발10년회사 공시SEC 양식 8-K* 미국 증권에 대한 예시이며, 비(非)미국 증권에는 해당 국가의 규제 서식 및 자료원을 사용합니다.별도로 명시되지 않는 한 모든 재무 데이터는 연간 기간을 기준으로 하지만 분기별로 업데이트됩니다. 이를 TTM(최근 12개월) 또는 LTM(지난 12개월) 데이터라고 합니다. 자세히 알아보기.분석 모델 및 스노우플레이크이 보고서를 생성하는 데 사용된 분석 모델에 대한 세부 정보는 당사의 Github 페이지에서 확인하실 수 있으며, 보고서 활용 방법에 대한 가이드와 YouTube 튜토리얼도 제공하고 있습니다.Simply Wall St 분석 모델을 설계하고 구축한 세계적 수준의 팀에 대해 알아보세요.산업 및 섹터 지표산업 및 섹터 지표는 Simply Wall St가 6시간마다 계산하며, 프로세스에 대한 자세한 내용은 Github에서 확인할 수 있습니다.분석가 소스VSO Electronics Co., Ltd.는 1명의 분석가가 다루고 있습니다. 이 중 1명의 분석가가 우리 보고서에 입력 데이터로 사용되는 매출 또는 수익 추정치를 제출했습니다. 분석가의 제출 자료는 하루 종일 업데이트됩니다.분석가기관Meizhen WangCapital Securities Corporation
Upcoming Dividend • Jun 03Upcoming dividend of NT$2.50 per shareEligible shareholders must have bought the stock before 10 June 2026. Payment date: 06 July 2026. Payout ratio is a comfortable 52% but the company is paying out more than the cash it is generating. Trailing yield: 1.9%. Lower than top quartile of Taiwanese dividend payers (4.9%). Lower than average of industry peers (2.3%).
Reported Earnings • May 19First quarter 2026 earnings released: EPS: NT$1.58 (vs NT$1.07 in 1Q 2025)First quarter 2026 results: EPS: NT$1.58 (up from NT$1.07 in 1Q 2025). Revenue: NT$712.4m (up 23% from 1Q 2025). Net income: NT$68.7m (up 47% from 1Q 2025). Profit margin: 9.6% (up from 8.1% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 16% p.a. on average during the next 2 years, compared to a 20% growth forecast for the Electrical industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings.
Valuation Update With 7 Day Price Move • Apr 27Investor sentiment improves as stock rises 16%After last week's 16% share price gain to NT$148, the stock trades at a trailing P/E ratio of 33.9x. Average forward P/E is 20x in the Electrical industry in Taiwan. Total returns to shareholders of 56% over the past three years.
Valuation Update With 7 Day Price Move • Apr 10Investor sentiment improves as stock rises 18%After last week's 18% share price gain to NT$126, the stock trades at a trailing P/E ratio of 29.1x. Average trailing P/E is 27x in the Electrical industry in Taiwan. Total returns to shareholders of 15% over the past three years.
Reported Earnings • Mar 15Full year 2025 earnings released: EPS: NT$4.34 (vs NT$4.55 in FY 2024)Full year 2025 results: EPS: NT$4.34. Revenue: NT$2.63b (up 22% from FY 2024). Net income: NT$189.5m (up 2.1% from FY 2024). Profit margin: 7.2% (down from 8.6% in FY 2024). The decrease in margin was driven by higher expenses.
New Risk • Mar 13New 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: 1.8% 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 Risks Earnings have declined by 0.3% per year over the past 5 years. High level of non-cash earnings (35% accrual ratio). Minor Risk Paying a dividend despite having no free cash flows.
Upcoming Dividend • Jun 03Upcoming dividend of NT$2.50 per shareEligible shareholders must have bought the stock before 10 June 2026. Payment date: 06 July 2026. Payout ratio is a comfortable 52% but the company is paying out more than the cash it is generating. Trailing yield: 1.9%. Lower than top quartile of Taiwanese dividend payers (4.9%). Lower than average of industry peers (2.3%).
Reported Earnings • May 19First quarter 2026 earnings released: EPS: NT$1.58 (vs NT$1.07 in 1Q 2025)First quarter 2026 results: EPS: NT$1.58 (up from NT$1.07 in 1Q 2025). Revenue: NT$712.4m (up 23% from 1Q 2025). Net income: NT$68.7m (up 47% from 1Q 2025). Profit margin: 9.6% (up from 8.1% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 16% p.a. on average during the next 2 years, compared to a 20% growth forecast for the Electrical industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings.
Valuation Update With 7 Day Price Move • Apr 27Investor sentiment improves as stock rises 16%After last week's 16% share price gain to NT$148, the stock trades at a trailing P/E ratio of 33.9x. Average forward P/E is 20x in the Electrical industry in Taiwan. Total returns to shareholders of 56% over the past three years.
Valuation Update With 7 Day Price Move • Apr 10Investor sentiment improves as stock rises 18%After last week's 18% share price gain to NT$126, the stock trades at a trailing P/E ratio of 29.1x. Average trailing P/E is 27x in the Electrical industry in Taiwan. Total returns to shareholders of 15% over the past three years.
Reported Earnings • Mar 15Full year 2025 earnings released: EPS: NT$4.34 (vs NT$4.55 in FY 2024)Full year 2025 results: EPS: NT$4.34. Revenue: NT$2.63b (up 22% from FY 2024). Net income: NT$189.5m (up 2.1% from FY 2024). Profit margin: 7.2% (down from 8.6% in FY 2024). The decrease in margin was driven by higher expenses.
New Risk • Mar 13New 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: 1.8% 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 Risks Earnings have declined by 0.3% per year over the past 5 years. High level of non-cash earnings (35% accrual ratio). Minor Risk Paying a dividend despite having no free cash flows.
공시 • Jan 21VSO Electronics Co., Ltd., Annual General Meeting, May 12, 2026VSO Electronics Co., Ltd., Annual General Meeting, May 12, 2026. Location: 13 floor no,95, sec.2 chung hsiao e. rd., taipei city Taiwan
New Risk • Nov 20New major risk - Share price stabilityThe company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Taiwanese stocks, typically moving 8.6% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (8.6% average weekly change). Earnings have declined by 0.3% per year over the past 5 years. High level of non-cash earnings (35% accrual ratio).
Reported Earnings • Nov 12Third quarter 2025 earnings released: EPS: NT$1.57 (vs NT$1.07 in 3Q 2024)Third quarter 2025 results: EPS: NT$1.57 (up from NT$1.07 in 3Q 2024). Revenue: NT$727.0m (up 27% from 3Q 2024). Net income: NT$68.3m (up 60% from 3Q 2024). Profit margin: 9.4% (up from 7.5% in 3Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has increased by 18% per year, which means it is well ahead of earnings.
Valuation Update With 7 Day Price Move • Nov 10Investor sentiment deteriorates as stock falls 20%After last week's 20% share price decline to NT$119, the stock trades at a trailing P/E ratio of 25.4x. Average trailing P/E is 27x in the Electrical industry in Taiwan. Total returns to shareholders of 75% over the past three years.
Valuation Update With 7 Day Price Move • Sep 02Investor sentiment improves as stock rises 16%After last week's 16% share price gain to NT$142, the stock trades at a trailing P/E ratio of 30.5x. Average trailing P/E is 23x in the Electrical industry in Taiwan. Total returns to shareholders of 22% over the past year.
Reported Earnings • Aug 16Second quarter 2025 earnings released: EPS: NT$0.78 (vs NT$0.99 in 2Q 2024)Second quarter 2025 results: EPS: NT$0.78 (down from NT$0.99 in 2Q 2024). Revenue: NT$647.9m (up 25% from 2Q 2024). Net income: NT$33.9m (down 14% from 2Q 2024). Profit margin: 5.2% (down from 7.6% in 2Q 2024). The decrease in margin was driven by higher expenses.
New Risk • Jul 11New major risk - Share price stabilityThe company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Taiwanese stocks, typically moving 8.2% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (8.2% average weekly change). Earnings have declined by 2.8% per year over the past 5 years. High level of non-cash earnings (49% accrual ratio).
Upcoming Dividend • Jun 24Upcoming dividend of NT$2.01 per shareEligible shareholders must have bought the stock before 01 July 2025. Payment date: 21 July 2025. Payout ratio is a comfortable 38% but the company is not cash flow positive. Trailing yield: 1.6%. Lower than top quartile of Taiwanese dividend payers (5.3%). Lower than average of industry peers (2.8%).
Valuation Update With 7 Day Price Move • Jun 23Investor sentiment improves as stock rises 21%After last week's 21% share price gain to NT$129, the stock trades at a trailing P/E ratio of 25.7x. Average trailing P/E is 20x in the Electrical industry in Taiwan. Total returns to shareholders of 4.0% over the past year.
Reported Earnings • May 14First quarter 2025 earnings released: EPS: NT$1.12 (vs NT$0.64 in 1Q 2024)First quarter 2025 results: EPS: NT$1.12 (up from NT$0.64 in 1Q 2024). Revenue: NT$578.6m (up 38% from 1Q 2024). Net income: NT$46.9m (up 93% from 1Q 2024). Profit margin: 8.1% (up from 5.8% in 1Q 2024). The increase in margin was driven by higher revenue.
공시 • May 03VSO Electronics Co., Ltd. to Report Q1, 2025 Results on May 12, 2025VSO Electronics Co., Ltd. announced that they will report Q1, 2025 results on May 12, 2025
Valuation Update With 7 Day Price Move • Apr 08Investor sentiment deteriorates as stock falls 17%After last week's 17% share price decline to NT$106, the stock trades at a trailing P/E ratio of 23.7x. Average trailing P/E is 17x in the Electrical industry in Taiwan. Total returns to shareholders of 44% over the past year.
Reported Earnings • Mar 20Full year 2024 earnings released: EPS: NT$4.78 (vs NT$3.05 in FY 2023)Full year 2024 results: EPS: NT$4.78 (up from NT$3.05 in FY 2023). Revenue: NT$2.16b (up 19% from FY 2023). Net income: NT$185.6m (up 62% from FY 2023). Profit margin: 8.6% (up from 6.3% in FY 2023). The increase in margin was driven by higher revenue.
공시 • Mar 01VSO Electronics Co., Ltd. Announces the Retirement of Roger Tsai as CEO, Effective March 31, 2025VSO Electronics Co., Ltd. announced the retirement of Roger Tsai as CEO of the Company, effective March 31, 2025.
Valuation Update With 7 Day Price Move • Feb 12Investor sentiment improves as stock rises 26%After last week's 26% share price gain to NT$152, the stock trades at a trailing P/E ratio of 54.1x. Average trailing P/E is 21x in the Electrical industry in Taiwan. Total returns to shareholders of 104% over the past year.
공시 • Jan 17VSO Electronics Co., Ltd., Annual General Meeting, May 12, 2025VSO Electronics Co., Ltd., Annual General Meeting, May 12, 2025. Location: 13 floor no,95, sec.2 chung hsiao e. rd., taipei city Taiwan
New Risk • Dec 05New major risk - Share price stabilityThe company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Taiwanese stocks, typically moving 8.2% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (8.2% average weekly change). Earnings have declined by 4.9% per year over the past 5 years. High level of non-cash earnings (22% accrual ratio). Minor Risks Profit margins are more than 30% lower than last year (6.0% net profit margin). Shareholders have been diluted in the past year (11% increase in shares outstanding).
Valuation Update With 7 Day Price Move • Dec 05Investor sentiment improves as stock rises 16%After last week's 16% share price gain to NT$149, the stock trades at a trailing P/E ratio of 52.7x. Average trailing P/E is 24x in the Electrical industry in Taiwan. Total returns to shareholders of 86% over the past year.
Reported Earnings • Nov 19Third quarter 2024 earnings released: EPS: NT$1.12 (vs NT$0.63 in 3Q 2023)Third quarter 2024 results: EPS: NT$1.12 (up from NT$0.63 in 3Q 2023). Revenue: NT$572.3m (up 24% from 3Q 2023). Net income: NT$42.8m (up 81% from 3Q 2023). Profit margin: 7.5% (up from 5.1% in 3Q 2023). The increase in margin was driven by higher revenue.
New Risk • Nov 09New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 11% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 0.5% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (7.1% average weekly change). Profit margins are more than 30% lower than last year (5.3% net profit margin). Shareholders have been diluted in the past year (11% increase in shares outstanding).
New Risk • Nov 04New major risk - Share price stabilityThe company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Taiwanese stocks, typically moving 8.8% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (8.8% average weekly change). Earnings have declined by 0.5% per year over the past 5 years. Minor Risk Profit margins are more than 30% lower than last year (5.3% net profit margin).
Valuation Update With 7 Day Price Move • Oct 22Investor sentiment improves as stock rises 15%After last week's 15% share price gain to NT$127, the stock trades at a trailing P/E ratio of 49.2x. Average trailing P/E is 25x in the Electrical industry in Taiwan. Total returns to shareholders of 64% over the past year.
Valuation Update With 7 Day Price Move • Oct 04Investor sentiment deteriorates as stock falls 16%After last week's 16% share price decline to NT$107, the stock trades at a trailing P/E ratio of 41.2x. Average trailing P/E is 25x in the Electrical industry in Taiwan. Total returns to shareholders of 36% over the past year.
Reported Earnings • Aug 17Second quarter 2024 earnings released: EPS: NT$1.04 (vs NT$0.49 in 2Q 2023)Second quarter 2024 results: EPS: NT$1.04 (up from NT$0.49 in 2Q 2023). Revenue: NT$519.0m (up 40% from 2Q 2023). Net income: NT$39.4m (up 114% from 2Q 2023). Profit margin: 7.6% (up from 5.0% in 2Q 2023). The increase in margin was driven by higher revenue.
Valuation Update With 7 Day Price Move • Aug 05Investor sentiment deteriorates as stock falls 17%After last week's 17% share price decline to NT$109, the stock trades at a trailing P/E ratio of 53.6x. Average trailing P/E is 28x in the Electrical industry in Taiwan. Total returns to shareholders of 46% over the past year.
Valuation Update With 7 Day Price Move • Jun 17Investor sentiment improves as stock rises 22%After last week's 22% share price gain to NT$123, the stock trades at a trailing P/E ratio of 60.3x. Average trailing P/E is 29x in the Electrical industry in Taiwan. Total returns to shareholders of 50% over the past year.
Upcoming Dividend • Jun 05Upcoming dividend of NT$2.00 per shareEligible shareholders must have bought the stock before 12 June 2024. Payment date: 05 July 2024. Payout ratio is on the higher end at 76%, however this is supported by cash flows. Trailing yield: 2.0%. Lower than top quartile of Taiwanese dividend payers (4.3%). Lower than average of industry peers (2.5%).
Reported Earnings • May 21First quarter 2024 earnings released: EPS: NT$0.64 (vs NT$1.07 in 1Q 2023)First quarter 2024 results: EPS: NT$0.64 (down from NT$1.07 in 1Q 2023). Revenue: NT$420.0m (down 7.2% from 1Q 2023). Net income: NT$24.2m (down 39% from 1Q 2023). Profit margin: 5.8% (down from 8.8% in 1Q 2023). The decrease in margin was driven by lower revenue.
Buy Or Sell Opportunity • May 14Now 23% overvalued after recent price riseOver the last 90 days, the stock has risen 28% to NT$96.90. The fair value is estimated to be NT$79.03, however this is not to be taken as a sell recommendation but rather should be used as a guide only.
Reported Earnings • Apr 09Full year 2023 earnings released: EPS: NT$3.05 (vs NT$9.90 in FY 2022)Full year 2023 results: EPS: NT$3.05 (down from NT$9.90 in FY 2022). Revenue: NT$1.82b (down 20% from FY 2022). Net income: NT$114.3m (down 68% from FY 2022). Profit margin: 6.3% (down from 16% in FY 2022). The decrease in margin was driven by lower revenue.
New Risk • Feb 27New minor risk - Financial data availabilityThe company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Revenue has declined by 6.4% over the past year. Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Short dividend paying track record (1 year of continuous dividend payments). Market cap is less than US$100m (NT$2.86b market cap, or US$90.6m).
공시 • Jan 11VSO Electronics Co., Ltd., Annual General Meeting, May 15, 2024VSO Electronics Co., Ltd., Annual General Meeting, May 15, 2024.
New Risk • Aug 14New major risk - Revenue and earnings growthRevenue has declined by 6.4% over the past year. 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 revenues are declining, then it is difficult for the company to prevent its earnings from declining as well. A trend of falling revenue can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. 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 Risk Revenue has declined by 6.4% over the past year. Minor Risks Short dividend paying track record (less than a year of continuous dividend payments). Market cap is less than US$100m (NT$2.69b market cap, or US$84.2m).
New Risk • Jun 21New minor risk - Market cap sizeThe company's market capitalization is less than US$100m. Market cap: NT$3.06b (US$98.8m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (24% accrual ratio). Minor Risks Short dividend paying track record (less than a year of continuous dividend payments). Share price has been volatile over the past 3 months (6.3% average weekly change). Market cap is less than US$100m (NT$3.06b market cap, or US$98.8m).
Valuation Update With 7 Day Price Move • May 15Investor sentiment deteriorates as stock falls 17%After last week's 17% share price decline to NT$103, the stock trades at a trailing P/E ratio of 9.7x. Average trailing P/E is 15x in the Electrical industry in Taiwan.
Reported Earnings • Apr 11Full year 2022 earnings released: EPS: NT$10.89 (vs NT$3.47 in FY 2021)Full year 2022 results: EPS: NT$10.89 (up from NT$3.47 in FY 2021). Revenue: NT$2.27b (up 7.3% from FY 2021). Net income: NT$360.3m (up 237% from FY 2021). Profit margin: 16% (up from 5.0% in FY 2021). The increase in margin was primarily driven by higher revenue.
Buying Opportunity • Mar 28Now 20% undervaluedOver the last 90 days, the stock is up 30%. The fair value is estimated to be NT$163, however this is not to be taken as a buy recommendation but rather should be used as a guide only.
Valuation Update With 7 Day Price Move • Mar 27Investor sentiment improves as stock rises 17%After last week's 17% share price gain to NT$133, the stock trades at a trailing P/E ratio of 21.1x. Average trailing P/E is 15x in the Electrical industry in Taiwan.
공시 • Jan 14VSO Electronics Co., Ltd., Annual General Meeting, May 11, 2023VSO Electronics Co., Ltd., Annual General Meeting, May 11, 2023.
