Upcoming Dividend • Jun 11
Upcoming dividend of NT$2.30 per share Eligible shareholders must have bought the stock before 18 June 2026. Payment date: 15 July 2026. Payout ratio and cash payout ratio are on the higher end at 86% and 78% respectively. Trailing yield: 5.9%. Within top quartile of Taiwanese dividend payers (4.9%). Higher than average of industry peers (1.6%). Reported Earnings • May 13
First quarter 2026 earnings released: EPS: NT$0.95 (vs NT$1.15 in 1Q 2025) First quarter 2026 results: EPS: NT$0.95 (down from NT$1.15 in 1Q 2025). Revenue: NT$156.5m (down 20% from 1Q 2025). Net income: NT$28.8m (down 17% from 1Q 2025). Profit margin: 18% (in line with 1Q 2025). Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Reported Earnings • Mar 12
Full year 2025 earnings released: EPS: NT$2.87 (vs NT$2.63 in FY 2024) Full year 2025 results: EPS: NT$2.87 (up from NT$2.63 in FY 2024). Revenue: NT$622.8m (down 1.4% from FY 2024). Net income: NT$87.0m (up 9.3% from FY 2024). Profit margin: 14% (up from 13% in FY 2024). The increase in margin was driven by lower expenses. 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 3% per year, which means it is significantly lagging earnings growth. 공시 • Mar 11
INternational CArbide Technology Co., Ltd., Annual General Meeting, May 26, 2026 INternational CArbide Technology Co., Ltd., Annual General Meeting, May 26, 2026, at 09:00 Taipei Standard Time. Location: no,176, chung tsun st. pin hai li, lujhu district, taoyuan city Taiwan Reported Earnings • Nov 13
Third quarter 2025 earnings released: EPS: NT$0.78 (vs NT$0.61 in 3Q 2024) Third quarter 2025 results: EPS: NT$0.78 (up from NT$0.61 in 3Q 2024). Revenue: NT$143.4m (down 8.9% from 3Q 2024). Net income: NT$23.6m (up 28% from 3Q 2024). Profit margin: 17% (up from 12% in 3Q 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 13
Second quarter 2025 earnings released: EPS: NT$0.70 (vs NT$0.78 in 2Q 2024) Second quarter 2025 results: EPS: NT$0.70 (down from NT$0.78 in 2Q 2024). Revenue: NT$155.8m (down 2.0% from 2Q 2024). Net income: NT$21.1m (down 10% from 2Q 2024). Profit margin: 14% (down from 15% in 2Q 2024). Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jul 08
Upcoming dividend of NT$2.00 per share Eligible shareholders must have bought the stock before 15 July 2025. Payment date: 11 August 2025. Payout ratio is a comfortable 70% and this is well supported by cash flows. Trailing yield: 4.8%. Lower than top quartile of Taiwanese dividend payers (5.3%). Higher than average of industry peers (3.1%). Reported Earnings • May 09
First quarter 2025 earnings released: EPS: NT$1.15 (vs NT$0.93 in 1Q 2024) First quarter 2025 results: EPS: NT$1.15 (up from NT$0.93 in 1Q 2024). Revenue: NT$194.7m (up 15% from 1Q 2024). Net income: NT$34.8m (up 24% from 1Q 2024). Profit margin: 18% (up from 17% 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 11% per year whereas the company’s share price has increased by 9% per year. Reported Earnings • Mar 20
Full year 2024 earnings released: EPS: NT$2.63 (vs NT$2.25 in FY 2023) Full year 2024 results: EPS: NT$2.63 (up from NT$2.25 in FY 2023). Revenue: NT$631.7m (down 1.9% from FY 2023). Net income: NT$79.6m (up 17% from FY 2023). Profit margin: 13% (up from 11% in FY 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 10% per year whereas the company’s share price has increased by 7% per year. 공시 • Jan 17
INternational CArbide Technology Co., Ltd., Annual General Meeting, May 22, 2025 INternational CArbide Technology Co., Ltd., Annual General Meeting, May 22, 2025. Location: no,176, chung tsun st. pin hai li, lujhu district, taoyuan city Taiwan Reported Earnings • Nov 18
Third quarter 2024 earnings released Third quarter 2024 results: Revenue: NT$157.4m (up 3.5% from 3Q 2023). Net income: NT$18.4m (up 43% from 3Q 2023). Profit margin: 12% (up from 8.5% in 3Q 2023). Buy Or Sell Opportunity • Aug 28
Now 21% overvalued Over the last 90 days, the stock has fallen 11% to NT$41.40. The fair value is estimated to be NT$34.23, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 9.2% over the last 3 years. Earnings per share has grown by 9.1%. Reported Earnings • Aug 17
Second quarter 2024 earnings released: EPS: NT$0.78 (vs NT$0.76 in 2Q 2023) Second quarter 2024 results: EPS: NT$0.78 (up from NT$0.76 in 2Q 2023). Revenue: NT$159.0m (down 16% from 2Q 2023). Net income: NT$23.6m (up 2.6% from 2Q 2023). Profit margin: 15% (up from 12% in 2Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 9% per year whereas the company’s share price has increased by 10% per year. Upcoming Dividend • Aug 01
Upcoming dividend of NT$1.80 per share Eligible shareholders must have bought the stock before 08 August 2024. Payment date: 06 September 2024. Payout ratio is a comfortable 68% and this is well supported by cash flows. Trailing yield: 4.2%. Lower than top quartile of Taiwanese dividend payers (4.4%). Higher than average of industry peers (2.2%). 공시 • Apr 14
INternational CArbide Technology Co., Ltd., Annual General Meeting, Jun 27, 2024 INternational CArbide Technology Co., Ltd., Annual General Meeting, Jun 27, 2024. Reported Earnings • Mar 25
Full year 2023 earnings released: EPS: NT$2.25 (vs NT$1.89 in FY 2022) Full year 2023 results: EPS: NT$2.25 (up from NT$1.89 in FY 2022). Revenue: NT$643.9m (up 35% from FY 2022). Net income: NT$68.2m (up 19% from FY 2022). Profit margin: 11% (down from 12% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 7% per year whereas the company’s share price has increased by 10% per year. Upcoming Dividend • Aug 18
Upcoming dividend of NT$0.80 per share at 1.6% yield Eligible shareholders must have bought the stock before 25 August 2023. Payment date: 28 September 2023. Payout ratio is a comfortable 38% but the company is paying out more than the cash it is generating. Trailing yield: 1.6%. Lower than top quartile of Taiwanese dividend payers (5.6%). Lower than average of industry peers (3.9%). Reported Earnings • Aug 12
Second quarter 2023 earnings released: EPS: NT$0.83 (vs NT$0.52 in 2Q 2022) Second quarter 2023 results: EPS: NT$0.83 (up from NT$0.52 in 2Q 2022). Revenue: NT$190.0m (up 86% from 2Q 2022). Net income: NT$23.0m (up 62% from 2Q 2022). Profit margin: 12% (down from 14% 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 10% per year whereas the company’s share price has increased by 13% per year. New Risk • Jul 11
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 6.3% 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 0.06% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (6.3% average weekly change). Market cap is less than US$100m (NT$1.54b market cap, or US$49.3m). Valuation Update With 7 Day Price Move • Jul 10
Investor sentiment improves as stock rises 26% After last week's 26% share price gain to NT$56.10, the stock trades at a trailing P/E ratio of 26.7x. Average trailing P/E is 22x in the Chemicals industry in Taiwan. Total returns to shareholders of 66% over the past three years. Valuation Update With 7 Day Price Move • Jun 13
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to NT$48.60, the stock trades at a trailing P/E ratio of 23.1x. Average trailing P/E is 22x in the Chemicals industry in Taiwan. Total returns to shareholders of 37% over the past three years. Reported Earnings • Mar 30
Full year 2022 earnings released: EPS: NT$2.08 (vs NT$2.18 in FY 2021) Full year 2022 results: EPS: NT$2.08 (down from NT$2.18 in FY 2021). Revenue: NT$477.0m (down 11% from FY 2021). Net income: NT$57.2m (down 4.6% from FY 2021). Profit margin: 12% (in line with FY 2021). Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has increased by 6% per year. Reported Earnings • Nov 16
Third quarter 2022 earnings released: EPS: NT$0.66 (vs NT$1.02 in 3Q 2021) Third quarter 2022 results: EPS: NT$0.66 (down from NT$1.02 in 3Q 2021). Revenue: NT$122.4m (down 25% from 3Q 2021). Net income: NT$18.1m (down 36% from 3Q 2021). Profit margin: 15% (down from 17% in 3Q 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has fallen by 3% per year. Reported Earnings • Aug 15
Second quarter 2022 earnings released: EPS: NT$0.57 (vs NT$0.55 in 2Q 2021) Second quarter 2022 results: EPS: NT$0.57 (up from NT$0.55 in 2Q 2021). Revenue: NT$102.2m (down 26% from 2Q 2021). Net income: NT$14.2m (up 3.8% from 2Q 2021). Profit margin: 14% (up from 9.9% in 2Q 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 3% per year and the company’s share price has also fallen by 3% per year. Upcoming Dividend • Aug 12
Upcoming dividend of NT$1.00 per share Eligible shareholders must have bought the stock before 19 August 2022. Payment date: 23 September 2022. Payout ratio is a comfortable 36% but the company is not cash flow positive. Trailing yield: 2.6%. Lower than top quartile of Taiwanese dividend payers (6.6%). Lower than average of industry peers (7.8%). Reported Earnings • May 16
First quarter 2022 earnings released: EPS: NT$0.62 (vs NT$0.20 in 1Q 2021) First quarter 2022 results: EPS: NT$0.62 (up from NT$0.20 in 1Q 2021). Revenue: NT$114.5m (up 20% from 1Q 2021). Net income: NT$15.5m (up 206% from 1Q 2021). Profit margin: 14% (up from 5.3% in 1Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Reported Earnings • Mar 04
Full year 2021 earnings: EPS in line with expectations, revenues disappoint Full year 2021 results: EPS: NT$2.40 (up from NT$2.17 in FY 2020). Revenue: NT$536.9m (up 5.5% from FY 2020). Net income: NT$60.0m (up 10% from FY 2020). Profit margin: 11% (in line with FY 2020). Revenue missed analyst estimates by 2.8%. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Reported Earnings • Nov 13
Third quarter 2021 earnings released: EPS NT$1.12 (vs NT$0.79 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$163.6m (up 22% from 3Q 2020). Net income: NT$28.0m (up 41% from 3Q 2020). Profit margin: 17% (up from 15% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Reported Earnings • Aug 13
Second quarter 2021 earnings released: EPS NT$0.63 (vs NT$0.42 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: NT$138.3m (up 8.6% from 2Q 2020). Net income: NT$13.7m (up 31% from 2Q 2020). Profit margin: 9.9% (up from 8.2% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Upcoming Dividend • Aug 02
Upcoming dividend of NT$0.50 per share Eligible shareholders must have bought the stock before 09 August 2021. Payment date: 07 September 2021. Trailing yield: 1.2%. Lower than top quartile of Taiwanese dividend payers (5.0%). Lower than average of industry peers (2.9%). Reported Earnings • May 17
First quarter 2021 earnings released: EPS NT$0.24 (vs NT$0.51 in 1Q 2020) The company reported a poor first quarter result with weaker earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$95.7m (down 20% from 1Q 2020). Net income: NT$5.08m (down 54% from 1Q 2020). Profit margin: 5.3% (down from 9.3% in 1Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Reported Earnings • Mar 11
Full year 2020 earnings released: EPS NT$2.52 (vs NT$2.97 in FY 2019) The company reported a poor full year result with weaker earnings and revenues, although profit margins were flat. Full year 2020 results: Revenue: NT$508.7m (down 11% from FY 2019). Net income: NT$54.3m (down 15% from FY 2019). Profit margin: 11% (in line with FY 2019). Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 14% per year, which means it is tracking significantly ahead of earnings growth. 공시 • Mar 10
INternational CArbide Technology Co., Ltd., Annual General Meeting, Jun 24, 2021 INternational CArbide Technology Co., Ltd., Annual General Meeting, Jun 24, 2021. Is New 90 Day High Low • Jan 26
New 90-day low: NT$40.05 The company is down 1.0% from its price of NT$40.60 on 29 October 2020. The Taiwanese market is up 23% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 12% over the same period. Is New 90 Day High Low • Dec 04
New 90-day high: NT$43.20 The company is up 5.0% from its price of NT$41.00 on 04 September 2020. The Taiwanese market is up 10.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 11% over the same period. Reported Earnings • Nov 14
Third quarter 2020 earnings released: EPS NT$0.92 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: NT$134.2m (up 4.4% from 3Q 2019). Net income: NT$19.8m (up 73% from 3Q 2019). Profit margin: 15% (up from 8.9% in 3Q 2019). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 7% per year whereas the company’s share price has increased by 12% per year. Is New 90 Day High Low • Oct 12
New 90-day low: NT$39.10 The company is down 15% from its price of NT$45.91 on 14 July 2020. The Taiwanese market is up 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is down 1.0% over the same period. Is New 90 Day High Low • Sep 24
New 90-day low: NT$40.55 The company is down 17% from its price of NT$48.70 on 24 June 2020. The Taiwanese market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is down 2.0% over the same period.