View Financial HealthBTL 배당 및 자사주 매입배당 기준 점검 1/6BTL 수익으로 충분히 충당되는 현재 수익률 1.23% 보유한 배당금 지급 회사입니다.핵심 정보1.2%배당 수익률0%자사주 매입 수익률총 주주 수익률1.2%미래 배당 수익률n/a배당 성장률-28.4%다음 배당 지급일n/a배당락일n/a주당 배당금n/a배당 성향66%최근 배당 및 자사주 매입 업데이트Upcoming Dividend • Jun 30Upcoming dividend of NT$1.00 per shareEligible shareholders must have bought the stock before 07 July 2026. Payment date: 31 July 2026. Payout ratio is a comfortable 66% but the company is not cash flow positive. Trailing yield: 1.6%. Lower than top quartile of Taiwanese dividend payers (4.9%). Lower than average of industry peers (6.2%).Declared Dividend • Jun 11Dividend increased to NT$1.00Dividend of NT$1.00 is 233% higher than last year. Ex-date: 7th July 2026 Payment date: 31st July 2026 Dividend yield will be 1.5%, which is lower than the industry average of 1.8%. Sustainability & Growth Dividend is covered by earnings (67% 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 1.9% per year over the past 5 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to decline by 26% to shift the payout ratio to a potentially unsustainable range, which is more than the 8.9% EPS decline seen over the last 5 years.Upcoming Dividend • Jul 01Upcoming dividend of NT$0.30 per shareEligible shareholders must have bought the stock before 08 July 2025. Payment date: 31 July 2025. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 0.7%. Lower than top quartile of Taiwanese dividend payers (5.3%). Lower than average of industry peers (5.6%).Upcoming Dividend • Jun 30Upcoming dividend of NT$2.73 per share at 4.1% yieldEligible shareholders must have bought the stock before 07 July 2023. Payment date: 31 July 2023. Payout ratio is a comfortable 70% but the company is not cash flow positive. Trailing yield: 4.1%. Lower than top quartile of Taiwanese dividend payers (5.5%). Higher than average of industry peers (1.4%).모든 업데이트 보기Recent updatesValuation Update With 7 Day Price Move • Aug 05Investor sentiment improves as stock rises 19%After last week's 19% share price gain to NT$68.60, the stock trades at a trailing P/E ratio of 45.7x. Average trailing P/E is 13x in the Professional Services industry in Taiwan. Total returns to shareholders of 18% over the past three years.Upcoming Dividend • Jun 30Upcoming dividend of NT$1.00 per shareEligible shareholders must have bought the stock before 07 July 2026. Payment date: 31 July 2026. Payout ratio is a comfortable 66% but the company is not cash flow positive. Trailing yield: 1.6%. Lower than top quartile of Taiwanese dividend payers (4.9%). Lower than average of industry peers (6.2%).Declared Dividend • Jun 11Dividend increased to NT$1.00Dividend of NT$1.00 is 233% higher than last year. Ex-date: 7th July 2026 Payment date: 31st July 2026 Dividend yield will be 1.5%, which is lower than the industry average of 1.8%. Sustainability & Growth Dividend is covered by earnings (67% 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 1.9% per year over the past 5 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to decline by 26% to shift the payout ratio to a potentially unsustainable range, which is more than the 8.9% EPS decline seen over the last 5 years.Buy Or Sell Opportunity • Jun 04Now 20% undervaluedOver the last 90 days, the stock has risen 15% to NT$69.90. The fair value is estimated to be NT$87.45, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.5% over the last 3 years. Earnings per share has declined by 4.0%.Valuation Update With 7 Day Price Move • Jun 03Investor sentiment improves as stock rises 16%After last week's 16% share price gain to NT$72.70, the stock trades at a trailing P/E ratio of 48.4x. Average trailing P/E is 17x in the Professional Services industry in Taiwan. Total returns to shareholders of 21% over the past three years.Reported Earnings • May 14First quarter 2026 earnings released: EPS: NT$0.12 (vs NT$0.18 in 1Q 2025)First quarter 2026 results: EPS: NT$0.12 (down from NT$0.18 in 1Q 2025). Revenue: NT$213.2m (up 8.4% from 1Q 2025). Net income: NT$3.66m (down 33% from 1Q 2025). Profit margin: 1.7% (down from 2.8% in 1Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 4% per year whereas the company’s share price has fallen by 1% per year.New Risk • May 06New 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: 1.5% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 36% per year over the past 5 years. Minor Risks Paying a dividend despite having no free cash flows. Market cap is less than US$100m (NT$2.08b market cap, or US$66.0m).Valuation Update With 7 Day Price Move • Apr 14Investor sentiment improves as stock rises 20%After last week's 20% share price gain to NT$71.30, the stock trades at a trailing P/E ratio of 45.7x. Average trailing P/E is 19x in the Professional Services industry in Taiwan. Total loss to shareholders of 7.9% over the past three years.Reported Earnings • Mar 12Full year 2025 earnings released: EPS: NT$1.58 (vs NT$0.54 in FY 2024)Full year 2025 results: EPS: NT$1.58 (up from NT$0.54 in FY 2024). Revenue: NT$909.1m (up 8.5% from FY 2024). Net income: NT$48.0m (up 209% from FY 2024). Profit margin: 5.3% (up from 1.8% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 55% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings.공고 • Mar 06BTL Inc., Annual General Meeting, Jun 09, 2026BTL Inc., Annual General Meeting, Jun 09, 2026. Location: 1 floor no,399, jui kuang rd., neihu district, taipei city TaiwanNew Risk • Feb 23New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 6.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 41% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (6.9% average weekly change). Market cap is less than US$100m (NT$1.94b market cap, or US$61.7m).Valuation Update With 7 Day Price Move • Jan 19Investor sentiment improves as stock rises 24%After last week's 24% share price gain to NT$76.20, the stock trades at a trailing P/E ratio of 74.8x. Average trailing P/E is 17x in the Professional Services industry in Asia. Total returns to shareholders of 8.5% over the past three years.Reported Earnings • Nov 12Third quarter 2025 earnings released: EPS: NT$0.71 (vs NT$0.15 loss in 3Q 2024)Third quarter 2025 results: EPS: NT$0.71 (up from NT$0.15 loss in 3Q 2024). Revenue: NT$232.8m (up 2.7% from 3Q 2024). Net income: NT$21.6m (up NT$25.6m from 3Q 2024). Profit margin: 9.3% (up from net loss in 3Q 2024). The move to profitability was primarily driven by lower expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 80 percentage points per year, which is a significant difference in performance.New Risk • Aug 31New minor risk - Earnings qualityThe company has large one-off items impacting its financial results. One-off items were 128% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 44% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (6.4% average weekly change). Large one-off items impacting financial results. Market cap is less than US$100m (NT$2.06b market cap, or US$67.4m).New Risk • Aug 29New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 6.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 44% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (6.4% average weekly change). Market cap is less than US$100m (NT$2.06b market cap, or US$67.4m).Reported Earnings • Aug 15Second quarter 2025 earnings released: EPS: NT$0.28 (vs NT$0.40 in 2Q 2024)Second quarter 2025 results: EPS: NT$0.28 (down from NT$0.40 in 2Q 2024). Revenue: NT$239.8m (up 9.4% from 2Q 2024). Net income: NT$8.61m (down 22% from 2Q 2024). Profit margin: 3.6% (down from 5.0% in 2Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 88 percentage points per year, which is a significant difference in performance.Upcoming Dividend • Jul 01Upcoming dividend of NT$0.30 per shareEligible shareholders must have bought the stock before 08 July 2025. Payment date: 31 July 2025. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 0.7%. Lower than top quartile of Taiwanese dividend payers (5.3%). Lower than average of industry peers (5.6%).Reported Earnings • May 12Full year 2024 earnings released: EPS: NT$0.54 (vs NT$1.96 loss in FY 2023)Full year 2024 results: EPS: NT$0.54 (up from NT$1.96 loss in FY 2023). Revenue: NT$838.2m (up 19% from FY 2023). Net income: NT$15.5m (up NT$69.0m from FY 2023). Profit margin: 1.8% (up from net loss in FY 2023). The move to profitability was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 65 percentage points per year, which is a significant difference in performance.공고 • Mar 04BTL Inc., Annual General Meeting, Jun 11, 2025BTL Inc., Annual General Meeting, Jun 11, 2025, at 09:00 Taipei Standard Time. Location: 1 floor no,399, jui kuang rd., neihu district, taipei city TaiwanNew Risk • Dec 23New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 6.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 44% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (6.1% average weekly change). Shareholders have been diluted in the past year (9.0% increase in shares outstanding). Market cap is less than US$100m (NT$1.55b market cap, or US$47.5m).Reported Earnings • Nov 17Third quarter 2024 earnings released: NT$0.15 loss per share (vs NT$0.63 loss in 3Q 2023)Third quarter 2024 results: NT$0.15 loss per share (improved from NT$0.63 loss in 3Q 2023). Revenue: NT$226.6m (up 35% from 3Q 2023). Net loss: NT$4.08m (loss narrowed 77% from 3Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 66 percentage points per year, which is a significant difference in performance.New Risk • Oct 29New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 9.0% 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 41% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (9.0% increase in shares outstanding). Market cap is less than US$100m (NT$1.77b market cap, or US$55.0m).Reported Earnings • Aug 14Second quarter 2024 earnings released: EPS: NT$0.40 (vs NT$0.071 loss in 2Q 2023)Second quarter 2024 results: EPS: NT$0.40 (up from NT$0.071 loss in 2Q 2023). Revenue: NT$219.2m (up 24% from 2Q 2023). Net income: NT$11.1m (up NT$13.0m from 2Q 2023). Profit margin: 5.0% (up from net loss in 2Q 2023). The move to profitability was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 64 percentage points per year, which is a significant difference in performance.Reported Earnings • Mar 10Full year 2023 earnings released: NT$2.16 loss per share (vs NT$5.87 profit in FY 2022)Full year 2023 results: NT$2.16 loss per share (down from NT$5.87 profit in FY 2022). Revenue: NT$702.8m (down 21% from FY 2022). Net loss: NT$53.5m (down 140% from profit in FY 2022).공고 • Feb 29BTL Inc., Annual General Meeting, Jun 07, 2024BTL Inc., Annual General Meeting, Jun 07, 2024.New Risk • Aug 12New major risk - Revenue and earnings growthRevenue has declined by 8.5% 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 8.5% over the past year. Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (7.4% net profit margin). Shareholders have been diluted in the past year (10.0% increase in shares outstanding). Market cap is less than US$100m (NT$1.68b market cap, or US$52.6m).Reported Earnings • Aug 11Second quarter 2023 earnings released: NT$0.08 loss per share (vs NT$1.61 profit in 2Q 2022)Second quarter 2023 results: NT$0.08 loss per share (down from NT$1.61 profit in 2Q 2022). Revenue: NT$177.5m (down 23% from 2Q 2022). Net loss: NT$1.97m (down 105% from profit in 2Q 2022).Upcoming Dividend • Jun 30Upcoming dividend of NT$2.73 per share at 4.1% yieldEligible shareholders must have bought the stock before 07 July 2023. Payment date: 31 July 2023. Payout ratio is a comfortable 70% but the company is not cash flow positive. Trailing yield: 4.1%. Lower than top quartile of Taiwanese dividend payers (5.5%). Higher than average of industry peers (1.4%).Reported Earnings • May 13First quarter 2023 earnings released: NT$0.26 loss per share (vs NT$1.31 profit in 1Q 2022)First quarter 2023 results: NT$0.26 loss per share (down from NT$1.31 profit in 1Q 2022). Revenue: NT$176.5m (down 16% from 1Q 2022). Net loss: NT$6.10m (down 120% from profit in 1Q 2022).Reported Earnings • Mar 06Full year 2022 earnings released: EPS: NT$5.87 (vs NT$5.62 in FY 2021)Full year 2022 results: EPS: NT$5.87 (up from NT$5.62 in FY 2021). Revenue: NT$888.2m (up 7.7% from FY 2021). Net income: NT$134.9m (up 4.5% from FY 2021). Profit margin: 15% (in line with FY 2021).Valuation Update With 7 Day Price Move • Feb 20Investor sentiment improves as stock rises 15%After last week's 15% share price gain to NT$99.90, the stock trades at a trailing P/E ratio of 15.2x. Average trailing P/E is 24x in the Professional Services industry in Asia. Total loss to shareholders of 19% over the past year.Reported Earnings • Nov 20Third quarter 2022 earnings released: EPS: NT$2.14 (vs NT$1.45 in 3Q 2021)Third quarter 2022 results: EPS: NT$2.14 (up from NT$1.45 in 3Q 2021). Revenue: NT$250.9m (up 15% from 3Q 2021). Net income: NT$49.1m (up 47% from 3Q 2021). Profit margin: 20% (up from 15% in 3Q 2021). The increase in margin was driven by higher revenue.Valuation Update With 7 Day Price Move • Aug 22Investor sentiment improved over the past weekAfter last week's 23% share price gain to NT$98.80, the stock trades at a trailing P/E ratio of 17.6x. Average trailing P/E is 23x in the Professional Services industry in Asia. Total returns to shareholders of 20% over the past year.공고 • Mar 23BTL Inc., Annual General Meeting, Jun 20, 2022BTL Inc., Annual General Meeting, Jun 20, 2022.지급의 안정성과 성장배당 데이터 가져오는 중안정적인 배당: 6840 10년 미만 동안 배당금을 지급해 왔으며 이 기간 동안 지급액은 휘발성이었습니다.배당금 증가: 6840 의 배당금 지급이 증가했지만 회사는 5 년 동안만 배당금을 지급했습니다.배당 수익률 vs 시장BTL 배당 수익률 vs 시장6840의 배당 수익률은 시장과 어떻게 비교되나요?구분배당 수익률회사 (6840)1.2%시장 하위 25% (TW)1.5%시장 상위 25% (TW)5.1%업계 평균 (Professional Services)6.3%분석가 예측 (6840) (최대 3년)n/a주목할만한 배당금: 6840 의 배당금( 1.23% )은 TW 시장에서 배당금 지급자의 하위 25%( 1.51% )와 비교해 주목할 만하지 않습니다.고배당: 6840 의 배당금( 1.23% )은 TW 시장에서 배당금 지급자의 상위 25%( 5.05% )와 비교해 낮습니다.주주 대상 이익 배당수익 보장: 합리적인 지급 비율 ( 65.7% )을 통해 6840 의 배당금 지급은 수익으로 충당됩니다.주주 현금 배당현금 흐름 범위: 6840 배당금을 지급하고 있지만 회사에는 잉여현금흐름이 없습니다.높은 배당을 제공하는 우량 기업 찾기7D1Y7D1Y7D1YTW 시장에서 배당이 강한 기업.View Management기업 분석 및 재무 데이터 상태데이터최종 업데이트 (UTC 시간)기업 분석2026/08/14 00:33종가2026/08/14 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 모델의 세부 정보는 당사의 GitHub 페이지에서 확인하실 수 있습니다. 또한 보고서 사용 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 소스BTL Inc.는 1명의 분석가가 다루고 있습니다. 이 중 0명의 분석가가 우리 보고서에 입력 데이터로 사용되는 매출 또는 수익 추정치를 제출했습니다. 분석가의 제출 자료는 하루 종일 업데이트됩니다.분석가기관null nullSinoPac Securities Investment Service
Upcoming Dividend • Jun 30Upcoming dividend of NT$1.00 per shareEligible shareholders must have bought the stock before 07 July 2026. Payment date: 31 July 2026. Payout ratio is a comfortable 66% but the company is not cash flow positive. Trailing yield: 1.6%. Lower than top quartile of Taiwanese dividend payers (4.9%). Lower than average of industry peers (6.2%).
Declared Dividend • Jun 11Dividend increased to NT$1.00Dividend of NT$1.00 is 233% higher than last year. Ex-date: 7th July 2026 Payment date: 31st July 2026 Dividend yield will be 1.5%, which is lower than the industry average of 1.8%. Sustainability & Growth Dividend is covered by earnings (67% 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 1.9% per year over the past 5 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to decline by 26% to shift the payout ratio to a potentially unsustainable range, which is more than the 8.9% EPS decline seen over the last 5 years.
Upcoming Dividend • Jul 01Upcoming dividend of NT$0.30 per shareEligible shareholders must have bought the stock before 08 July 2025. Payment date: 31 July 2025. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 0.7%. Lower than top quartile of Taiwanese dividend payers (5.3%). Lower than average of industry peers (5.6%).
Upcoming Dividend • Jun 30Upcoming dividend of NT$2.73 per share at 4.1% yieldEligible shareholders must have bought the stock before 07 July 2023. Payment date: 31 July 2023. Payout ratio is a comfortable 70% but the company is not cash flow positive. Trailing yield: 4.1%. Lower than top quartile of Taiwanese dividend payers (5.5%). Higher than average of industry peers (1.4%).
Valuation Update With 7 Day Price Move • Aug 05Investor sentiment improves as stock rises 19%After last week's 19% share price gain to NT$68.60, the stock trades at a trailing P/E ratio of 45.7x. Average trailing P/E is 13x in the Professional Services industry in Taiwan. Total returns to shareholders of 18% over the past three years.
Upcoming Dividend • Jun 30Upcoming dividend of NT$1.00 per shareEligible shareholders must have bought the stock before 07 July 2026. Payment date: 31 July 2026. Payout ratio is a comfortable 66% but the company is not cash flow positive. Trailing yield: 1.6%. Lower than top quartile of Taiwanese dividend payers (4.9%). Lower than average of industry peers (6.2%).
Declared Dividend • Jun 11Dividend increased to NT$1.00Dividend of NT$1.00 is 233% higher than last year. Ex-date: 7th July 2026 Payment date: 31st July 2026 Dividend yield will be 1.5%, which is lower than the industry average of 1.8%. Sustainability & Growth Dividend is covered by earnings (67% 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 1.9% per year over the past 5 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to decline by 26% to shift the payout ratio to a potentially unsustainable range, which is more than the 8.9% EPS decline seen over the last 5 years.
Buy Or Sell Opportunity • Jun 04Now 20% undervaluedOver the last 90 days, the stock has risen 15% to NT$69.90. The fair value is estimated to be NT$87.45, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.5% over the last 3 years. Earnings per share has declined by 4.0%.
Valuation Update With 7 Day Price Move • Jun 03Investor sentiment improves as stock rises 16%After last week's 16% share price gain to NT$72.70, the stock trades at a trailing P/E ratio of 48.4x. Average trailing P/E is 17x in the Professional Services industry in Taiwan. Total returns to shareholders of 21% over the past three years.
Reported Earnings • May 14First quarter 2026 earnings released: EPS: NT$0.12 (vs NT$0.18 in 1Q 2025)First quarter 2026 results: EPS: NT$0.12 (down from NT$0.18 in 1Q 2025). Revenue: NT$213.2m (up 8.4% from 1Q 2025). Net income: NT$3.66m (down 33% from 1Q 2025). Profit margin: 1.7% (down from 2.8% in 1Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 4% per year whereas the company’s share price has fallen by 1% per year.
New Risk • May 06New 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: 1.5% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 36% per year over the past 5 years. Minor Risks Paying a dividend despite having no free cash flows. Market cap is less than US$100m (NT$2.08b market cap, or US$66.0m).
Valuation Update With 7 Day Price Move • Apr 14Investor sentiment improves as stock rises 20%After last week's 20% share price gain to NT$71.30, the stock trades at a trailing P/E ratio of 45.7x. Average trailing P/E is 19x in the Professional Services industry in Taiwan. Total loss to shareholders of 7.9% over the past three years.
Reported Earnings • Mar 12Full year 2025 earnings released: EPS: NT$1.58 (vs NT$0.54 in FY 2024)Full year 2025 results: EPS: NT$1.58 (up from NT$0.54 in FY 2024). Revenue: NT$909.1m (up 8.5% from FY 2024). Net income: NT$48.0m (up 209% from FY 2024). Profit margin: 5.3% (up from 1.8% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 55% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings.
공고 • Mar 06BTL Inc., Annual General Meeting, Jun 09, 2026BTL Inc., Annual General Meeting, Jun 09, 2026. Location: 1 floor no,399, jui kuang rd., neihu district, taipei city Taiwan
New Risk • Feb 23New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 6.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 41% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (6.9% average weekly change). Market cap is less than US$100m (NT$1.94b market cap, or US$61.7m).
Valuation Update With 7 Day Price Move • Jan 19Investor sentiment improves as stock rises 24%After last week's 24% share price gain to NT$76.20, the stock trades at a trailing P/E ratio of 74.8x. Average trailing P/E is 17x in the Professional Services industry in Asia. Total returns to shareholders of 8.5% over the past three years.
Reported Earnings • Nov 12Third quarter 2025 earnings released: EPS: NT$0.71 (vs NT$0.15 loss in 3Q 2024)Third quarter 2025 results: EPS: NT$0.71 (up from NT$0.15 loss in 3Q 2024). Revenue: NT$232.8m (up 2.7% from 3Q 2024). Net income: NT$21.6m (up NT$25.6m from 3Q 2024). Profit margin: 9.3% (up from net loss in 3Q 2024). The move to profitability was primarily driven by lower expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 80 percentage points per year, which is a significant difference in performance.
New Risk • Aug 31New minor risk - Earnings qualityThe company has large one-off items impacting its financial results. One-off items were 128% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 44% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (6.4% average weekly change). Large one-off items impacting financial results. Market cap is less than US$100m (NT$2.06b market cap, or US$67.4m).
New Risk • Aug 29New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 6.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 44% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (6.4% average weekly change). Market cap is less than US$100m (NT$2.06b market cap, or US$67.4m).
Reported Earnings • Aug 15Second quarter 2025 earnings released: EPS: NT$0.28 (vs NT$0.40 in 2Q 2024)Second quarter 2025 results: EPS: NT$0.28 (down from NT$0.40 in 2Q 2024). Revenue: NT$239.8m (up 9.4% from 2Q 2024). Net income: NT$8.61m (down 22% from 2Q 2024). Profit margin: 3.6% (down from 5.0% in 2Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 88 percentage points per year, which is a significant difference in performance.
Upcoming Dividend • Jul 01Upcoming dividend of NT$0.30 per shareEligible shareholders must have bought the stock before 08 July 2025. Payment date: 31 July 2025. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 0.7%. Lower than top quartile of Taiwanese dividend payers (5.3%). Lower than average of industry peers (5.6%).
Reported Earnings • May 12Full year 2024 earnings released: EPS: NT$0.54 (vs NT$1.96 loss in FY 2023)Full year 2024 results: EPS: NT$0.54 (up from NT$1.96 loss in FY 2023). Revenue: NT$838.2m (up 19% from FY 2023). Net income: NT$15.5m (up NT$69.0m from FY 2023). Profit margin: 1.8% (up from net loss in FY 2023). The move to profitability was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 65 percentage points per year, which is a significant difference in performance.
공고 • Mar 04BTL Inc., Annual General Meeting, Jun 11, 2025BTL Inc., Annual General Meeting, Jun 11, 2025, at 09:00 Taipei Standard Time. Location: 1 floor no,399, jui kuang rd., neihu district, taipei city Taiwan
New Risk • Dec 23New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 6.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 44% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (6.1% average weekly change). Shareholders have been diluted in the past year (9.0% increase in shares outstanding). Market cap is less than US$100m (NT$1.55b market cap, or US$47.5m).
Reported Earnings • Nov 17Third quarter 2024 earnings released: NT$0.15 loss per share (vs NT$0.63 loss in 3Q 2023)Third quarter 2024 results: NT$0.15 loss per share (improved from NT$0.63 loss in 3Q 2023). Revenue: NT$226.6m (up 35% from 3Q 2023). Net loss: NT$4.08m (loss narrowed 77% from 3Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 66 percentage points per year, which is a significant difference in performance.
New Risk • Oct 29New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 9.0% 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 41% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (9.0% increase in shares outstanding). Market cap is less than US$100m (NT$1.77b market cap, or US$55.0m).
Reported Earnings • Aug 14Second quarter 2024 earnings released: EPS: NT$0.40 (vs NT$0.071 loss in 2Q 2023)Second quarter 2024 results: EPS: NT$0.40 (up from NT$0.071 loss in 2Q 2023). Revenue: NT$219.2m (up 24% from 2Q 2023). Net income: NT$11.1m (up NT$13.0m from 2Q 2023). Profit margin: 5.0% (up from net loss in 2Q 2023). The move to profitability was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 64 percentage points per year, which is a significant difference in performance.
Reported Earnings • Mar 10Full year 2023 earnings released: NT$2.16 loss per share (vs NT$5.87 profit in FY 2022)Full year 2023 results: NT$2.16 loss per share (down from NT$5.87 profit in FY 2022). Revenue: NT$702.8m (down 21% from FY 2022). Net loss: NT$53.5m (down 140% from profit in FY 2022).
공고 • Feb 29BTL Inc., Annual General Meeting, Jun 07, 2024BTL Inc., Annual General Meeting, Jun 07, 2024.
New Risk • Aug 12New major risk - Revenue and earnings growthRevenue has declined by 8.5% 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 8.5% over the past year. Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (7.4% net profit margin). Shareholders have been diluted in the past year (10.0% increase in shares outstanding). Market cap is less than US$100m (NT$1.68b market cap, or US$52.6m).
Reported Earnings • Aug 11Second quarter 2023 earnings released: NT$0.08 loss per share (vs NT$1.61 profit in 2Q 2022)Second quarter 2023 results: NT$0.08 loss per share (down from NT$1.61 profit in 2Q 2022). Revenue: NT$177.5m (down 23% from 2Q 2022). Net loss: NT$1.97m (down 105% from profit in 2Q 2022).
Upcoming Dividend • Jun 30Upcoming dividend of NT$2.73 per share at 4.1% yieldEligible shareholders must have bought the stock before 07 July 2023. Payment date: 31 July 2023. Payout ratio is a comfortable 70% but the company is not cash flow positive. Trailing yield: 4.1%. Lower than top quartile of Taiwanese dividend payers (5.5%). Higher than average of industry peers (1.4%).
Reported Earnings • May 13First quarter 2023 earnings released: NT$0.26 loss per share (vs NT$1.31 profit in 1Q 2022)First quarter 2023 results: NT$0.26 loss per share (down from NT$1.31 profit in 1Q 2022). Revenue: NT$176.5m (down 16% from 1Q 2022). Net loss: NT$6.10m (down 120% from profit in 1Q 2022).
Reported Earnings • Mar 06Full year 2022 earnings released: EPS: NT$5.87 (vs NT$5.62 in FY 2021)Full year 2022 results: EPS: NT$5.87 (up from NT$5.62 in FY 2021). Revenue: NT$888.2m (up 7.7% from FY 2021). Net income: NT$134.9m (up 4.5% from FY 2021). Profit margin: 15% (in line with FY 2021).
Valuation Update With 7 Day Price Move • Feb 20Investor sentiment improves as stock rises 15%After last week's 15% share price gain to NT$99.90, the stock trades at a trailing P/E ratio of 15.2x. Average trailing P/E is 24x in the Professional Services industry in Asia. Total loss to shareholders of 19% over the past year.
Reported Earnings • Nov 20Third quarter 2022 earnings released: EPS: NT$2.14 (vs NT$1.45 in 3Q 2021)Third quarter 2022 results: EPS: NT$2.14 (up from NT$1.45 in 3Q 2021). Revenue: NT$250.9m (up 15% from 3Q 2021). Net income: NT$49.1m (up 47% from 3Q 2021). Profit margin: 20% (up from 15% in 3Q 2021). The increase in margin was driven by higher revenue.
Valuation Update With 7 Day Price Move • Aug 22Investor sentiment improved over the past weekAfter last week's 23% share price gain to NT$98.80, the stock trades at a trailing P/E ratio of 17.6x. Average trailing P/E is 23x in the Professional Services industry in Asia. Total returns to shareholders of 20% over the past year.
공고 • Mar 23BTL Inc., Annual General Meeting, Jun 20, 2022BTL Inc., Annual General Meeting, Jun 20, 2022.