Delpha ConstructionLtd (2530) 주식 개요델파 건설은 대만에서 상업용 건물을 건설하는 회사입니다. 자세히 보기2530 펀더멘털 분석스노우플레이크 점수가치 평가4/6미래 성장2/6과거 실적3/6재무 건전성3/6배당3/6강점공정 가치 추정치보다 낮은 86.5% 에서 거래수익은 연간 42.77% 증가할 것으로 예상됩니다.지난 1년간 수익이 13.9% 증가했습니다.위험 분석부채는 operating cash flow로 충분히 감당되지 않습니다.14.65% 의 배당금은 잉여현금흐름으로 잘 충당되지 않습니다.모든 위험 점검 보기2530 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$20.4573.5% 저평가 내재 할인율Growth estimate overAnnual revenue growth rate5 Yearstime period%/yrDecreaseIncreasePastFuture-164m38b2016201920222025202620282031Revenue NT$37.7bEarnings NT$9.8bAdvancedSet Fair ValueView all narrativesDelpha Construction Co.,Ltd. 경쟁사Hua Yu Lien DevelopmentSymbol: TWSE:1436Market cap: NT$8.8bLong Bon InternationalLtdSymbol: TWSE:2514Market cap: NT$4.6bGTM HoldingsSymbol: TWSE:1437Market cap: NT$5.8bWan Hwa EnterpriseSymbol: TWSE:2701Market cap: NT$4.6b가격 이력 및 성과Delpha ConstructionLtd 주가의 최고가, 최저가 및 변동 요약과거 주가현재 주가NT$20.4552주 최고가NT$35.3052주 최저가NT$20.00베타-0.261개월 변동-5.98%3개월 변동n/a1년 변동-39.50%3년 변동-11.66%5년 변동47.12%IPO 이후 변동-39.73%최근 뉴스 및 업데이트New Risk • May 18New major risk - Financial positionThe company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 13% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (13% operating cash flow to total debt). Minor Risk Dividend is not well covered by cash flows (119% cash payout ratio).Reported Earnings • May 16First quarter 2026 earnings released: NT$0.037 loss per share (vs NT$0.021 profit in 1Q 2025)First quarter 2026 results: NT$0.037 loss per share (down from NT$0.021 profit in 1Q 2025). Revenue: NT$186.7m (up 16% from 1Q 2025). Net loss: NT$31.1m (down 277% from profit in 1Q 2025). Revenue is forecast to grow 43% p.a. on average during the next 2 years, compared to a 16% growth forecast for the Real Estate industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings.공시 • Apr 17Delpha Construction Co.,Ltd. (TWSE:2530) acquired an additional minority stake in BES Engineering Corporation (TWSE:2515).Delpha Construction Co.,Ltd. (TWSE:2530) acquired an additional minority stake in BES Engineering Corporation (TWSE:2515) on April 16, 2026. On completion, Delpha Construction Co.,Ltd. has now secured a 22% stake in the Company. This acquisition of equity signals Delpha's commitment to obtaining control and participating directly in BES management to force a long-overdue transition toward strengthened corporate governance and enhanced operational stability. Delpha Construction Co.,Ltd. (TWSE:2530) completed the acquisition of an additional minority stake in BES Engineering Corporation (TWSE:2515) on April 16, 2026.공시 • Apr 10Delpha Construction Co.,Ltd., Annual General Meeting, Jun 26, 2026Delpha Construction Co.,Ltd., Annual General Meeting, Jun 26, 2026, at 09:00 Taipei Standard Time. Location: b1 floor no,28 ln.420, sec.5 ch`eng kung rd., neihu district, taipei city TaiwanPrice Target Changed • Apr 07Price target decreased by 13% to NT$27.00Down from NT$31.00, the current price target is provided by 1 analyst. New target price is 13% above last closing price of NT$23.95. Stock is down 26% over the past year. The company posted earnings per share of NT$2.03 last year.Reported Earnings • Mar 31Full year 2025 earnings released: EPS: NT$2.03 (vs NT$1.94 in FY 2024)Full year 2025 results: EPS: NT$2.03 (up from NT$1.94 in FY 2024). Revenue: NT$6.34b (up 4.0% from FY 2024). Net income: NT$1.70b (up 4.4% from FY 2024). Profit margin: 27% (in line with FY 2024). Revenue is forecast to grow 39% p.a. on average during the next 2 years, compared to a 16% growth forecast for the Real Estate industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 56% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth.더 많은 업데이트 보기Recent updatesNew Risk • May 18New major risk - Financial positionThe company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 13% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (13% operating cash flow to total debt). Minor Risk Dividend is not well covered by cash flows (119% cash payout ratio).Reported Earnings • May 16First quarter 2026 earnings released: NT$0.037 loss per share (vs NT$0.021 profit in 1Q 2025)First quarter 2026 results: NT$0.037 loss per share (down from NT$0.021 profit in 1Q 2025). Revenue: NT$186.7m (up 16% from 1Q 2025). Net loss: NT$31.1m (down 277% from profit in 1Q 2025). Revenue is forecast to grow 43% p.a. on average during the next 2 years, compared to a 16% growth forecast for the Real Estate industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings.공시 • Apr 17Delpha Construction Co.,Ltd. (TWSE:2530) acquired an additional minority stake in BES Engineering Corporation (TWSE:2515).Delpha Construction Co.,Ltd. (TWSE:2530) acquired an additional minority stake in BES Engineering Corporation (TWSE:2515) on April 16, 2026. On completion, Delpha Construction Co.,Ltd. has now secured a 22% stake in the Company. This acquisition of equity signals Delpha's commitment to obtaining control and participating directly in BES management to force a long-overdue transition toward strengthened corporate governance and enhanced operational stability. Delpha Construction Co.,Ltd. (TWSE:2530) completed the acquisition of an additional minority stake in BES Engineering Corporation (TWSE:2515) on April 16, 2026.공시 • Apr 10Delpha Construction Co.,Ltd., Annual General Meeting, Jun 26, 2026Delpha Construction Co.,Ltd., Annual General Meeting, Jun 26, 2026, at 09:00 Taipei Standard Time. Location: b1 floor no,28 ln.420, sec.5 ch`eng kung rd., neihu district, taipei city TaiwanPrice Target Changed • Apr 07Price target decreased by 13% to NT$27.00Down from NT$31.00, the current price target is provided by 1 analyst. New target price is 13% above last closing price of NT$23.95. Stock is down 26% over the past year. The company posted earnings per share of NT$2.03 last year.Reported Earnings • Mar 31Full year 2025 earnings released: EPS: NT$2.03 (vs NT$1.94 in FY 2024)Full year 2025 results: EPS: NT$2.03 (up from NT$1.94 in FY 2024). Revenue: NT$6.34b (up 4.0% from FY 2024). Net income: NT$1.70b (up 4.4% from FY 2024). Profit margin: 27% (in line with FY 2024). Revenue is forecast to grow 39% p.a. on average during the next 2 years, compared to a 16% growth forecast for the Real Estate industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 56% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth.Upcoming Dividend • Dec 02Upcoming dividend of NT$0.75 per shareEligible shareholders must have bought the stock before 09 December 2025. Payment date: 07 January 2026. The company is paying out more than 100% of its profits and is paying out 83% of its cash flow. Trailing yield: 7.9%. Within top quartile of Taiwanese dividend payers (5.4%). Higher than average of industry peers (5.3%).New Risk • Nov 17New major risk - Financial positionThe company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 14% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (14% operating cash flow to total debt). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past.Declared Dividend • Nov 14Third quarter dividend of NT$0.75 announcedShareholders will receive a dividend of NT$0.75. Ex-date: 9th December 2025 Payment date: 7th January 2026 Dividend yield will be 9.6%, which is higher than the industry average of 3.7%. Sustainability & Growth Dividend is well covered by both earnings (17% earnings payout ratio) and cash flows (41% cash payout ratio). The dividend has increased by an average of 39% per year over the past 3 years. However, payments have been volatile during that time. Earnings per share has grown by 71% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover.Reported Earnings • Nov 14Third quarter 2025 earnings released: EPS: NT$0.82 (vs NT$0.63 in 3Q 2024)Third quarter 2025 results: EPS: NT$0.82 (up from NT$0.63 in 3Q 2024). Revenue: NT$2.56b (up 28% from 3Q 2024). Net income: NT$684.1m (up 30% from 3Q 2024). Profit margin: 27% (in line with 3Q 2024). Revenue is forecast to grow 92% p.a. on average during the next 2 years, compared to a 67% growth forecast for the Real Estate industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 69% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth.Upcoming Dividend • Sep 04Upcoming dividend of NT$1.10 per shareEligible shareholders must have bought the stock before 08 September 2025. Payment date: 03 October 2025. The company last paid an ordinary dividend in March 2023. The average dividend yield among industry peers is 4.9%.Declared Dividend • Aug 21Second quarter dividend of NT$1.10 announcedShareholders will receive a dividend of NT$1.10. Ex-date: 8th September 2025 Payment date: 3rd October 2025 Dividend yield will be 7.8%, which is higher than the industry average of 3.7%.Reported Earnings • Aug 15Second quarter 2025 earnings released: EPS: NT$1.23 (vs NT$0.61 in 2Q 2024)Second quarter 2025 results: EPS: NT$1.23 (up from NT$0.61 in 2Q 2024). Revenue: NT$3.48b (up 93% from 2Q 2024). Net income: NT$1.03b (up 101% from 2Q 2024). Profit margin: 30% (up from 29% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 80% p.a. on average during the next 2 years, compared to a 61% growth forecast for the Real Estate industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 77% per year but the company’s share price has only increased by 30% per year, which means it is significantly lagging earnings growth.Upcoming Dividend • Jul 16Upcoming dividend of NT$0.40 per shareEligible shareholders must have bought the stock before 23 July 2025. Payment date: 20 August 2025. The company last paid an ordinary dividend in March 2023. The average dividend yield among industry peers is 3.9%.Reported Earnings • May 15First quarter 2025 earnings released: EPS: NT$0.02 (vs NT$0.23 in 1Q 2024)First quarter 2025 results: EPS: NT$0.02 (down from NT$0.23 in 1Q 2024). Revenue: NT$161.6m (down 79% from 1Q 2024). Net income: NT$17.6m (down 91% from 1Q 2024). Profit margin: 11% (down from 26% in 1Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 86% per year but the company’s share price has only increased by 33% per year, which means it is significantly lagging earnings growth.공시 • May 03Delpha Construction Co.,Ltd. to Report Q1, 2025 Results on May 12, 2025Delpha Construction Co.,Ltd. announced that they will report Q1, 2025 results on May 12, 2025Upcoming Dividend • Apr 17Upcoming dividend of NT$0.42 per shareEligible shareholders must have bought the stock before 24 April 2025. Payment date: 23 May 2025. Payout ratio is on the higher end at 90% but the company is not cash flow positive. Trailing yield: 5.2%. Lower than top quartile of Taiwanese dividend payers (5.4%). Higher than average of industry peers (4.0%).Buy Or Sell Opportunity • Apr 10Now 29% overvaluedOver the last 90 days, the stock has fallen 6.1% to NT$34.50. The fair value is estimated to be NT$26.69, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 86% over the last 3 years. Meanwhile, the company has become profitable.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$32.50, the stock trades at a trailing P/E ratio of 16.8x. Average trailing P/E is 12x in the Real Estate industry in Taiwan. Total returns to shareholders of 135% over the past three years.New Risk • Apr 06New major risk - Dividend sustainabilityThe dividend is not well covered by earnings and cash flows. Payout ratio: 90% The company is paying a dividend despite having no free cash flows. Dividend yield: 5.9% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. 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 Debt is not well covered by operating cash flow (currently running at an operating cash loss). Dividend is not well covered by earnings and cash flows. Payout ratio: 90% Paying a dividend despite having no free cash flows.Reported Earnings • Apr 01Full year 2024 earnings released: EPS: NT$1.94 (vs NT$0.61 in FY 2023)Full year 2024 results: EPS: NT$1.94 (up from NT$0.61 in FY 2023). Revenue: NT$6.10b (up 212% from FY 2023). Net income: NT$1.63b (up 219% from FY 2023). Profit margin: 27% (in line with FY 2023). Over the last 3 years on average, earnings per share has increased by 99% per year but the company’s share price has only increased by 39% per year, which means it is significantly lagging earnings growth.공시 • Mar 28Delpha Construction Co.,Ltd., Annual General Meeting, Jun 26, 2025Delpha Construction Co.,Ltd., Annual General Meeting, Jun 26, 2025, at 09:00 Taipei Standard Time. Location: b1 floor no,28 ln.420, sec.5 ch`eng kung rd., neihu district, taipei city Taiwan분석 기사 • Mar 28Delpha ConstructionLtd (TWSE:2530) Will Pay A Smaller Dividend Than Last YearDelpha Construction Co.,Ltd. ( TWSE:2530 ) is reducing its dividend from last year's comparable payment to NT$0.4192 on...Declared Dividend • Mar 28Third quarter dividend of NT$0.42 announcedShareholders will receive a dividend of NT$0.42. Ex-date: 24th April 2025 Payment date: 23rd May 2025 Dividend yield will be 4.3%, which is higher than the industry average of 3.7%. Sustainability & Growth Dividend is covered by earnings (88% 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 137% per year over the past 2 years and payments have been stable during that time. Earnings per share has grown by 77% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover.공시 • Mar 27Delpha Construction Co.,Ltd. Announces Dividend for the Fourth Quarter of 2024, Payable on 23 May 2025Delpha Construction Co.,Ltd. at its the board of directors or shareholders meeting held on 26 March 2025 announced the cash dividend of TWD 352,149,582 (TWD 0.41923168 per share) of common stock for the fourth quarter of 2024. The dividend will payable on 23 May 2025. The ex-rights (ex-dividend) record date is 2 May 2025 and the ex-rights (ex-dividend) trading date is 24 April 2025.공시 • Mar 07Delpha Construction Co.,Ltd. to Report Fiscal Year 2024 Results on Mar 14, 2025Delpha Construction Co.,Ltd. announced that they will report fiscal year 2024 results on Mar 14, 2025Buy Or Sell Opportunity • Feb 17Now 21% overvaluedThe stock has been flat over the last 90 days, currently trading at NT$40.15. The fair value is estimated to be NT$33.30, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 92% over the last 3 years. Meanwhile, the company has become profitable.분석 기사 • Jan 10Delpha Construction Co.,Ltd.'s (TWSE:2530) Business And Shares Still Trailing The MarketWhen close to half the companies in Taiwan have price-to-earnings ratios (or "P/E's") above 21x, you may consider...분석 기사 • Dec 10A Look At The Fair Value Of Delpha Construction Co.,Ltd. (TWSE:2530)Key Insights The projected fair value for Delpha ConstructionLtd is NT$36.03 based on Dividend Discount Model With...Upcoming Dividend • Nov 21Upcoming dividend of NT$0.58 per shareEligible shareholders must have bought the stock before 28 November 2024. Payment date: 26 December 2024. Payout ratio is a comfortable 26% but the company is not cash flow positive. Trailing yield: 5.4%. Within top quartile of Taiwanese dividend payers (4.5%). Higher than average of industry peers (3.3%).Buy Or Sell Opportunity • Nov 21Now 24% overvaluedOver the last 90 days, the stock has fallen 7.6% to NT$42.75. The fair value is estimated to be NT$34.52, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 92% over the last 3 years. Meanwhile, the company has become profitable.Reported Earnings • Nov 18Third quarter 2024 earnings released: EPS: NT$0.63 (vs NT$0.024 loss in 3Q 2023)Third quarter 2024 results: EPS: NT$0.63 (up from NT$0.024 loss in 3Q 2023). Revenue: NT$2.00b (up NT$2.00b from 3Q 2023). Net income: NT$528.2m (up NT$548.7m from 3Q 2023). Profit margin: 26% (up from net loss in 3Q 2023). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 108% per year but the company’s share price has only increased by 40% per year, which means it is significantly lagging earnings growth.공시 • Nov 05Delpha Construction Co.,Ltd. to Report Q3, 2024 Results on Nov 12, 2024Delpha Construction Co.,Ltd. announced that they will report Q3, 2024 results on Nov 12, 2024Upcoming Dividend • Aug 22Upcoming dividend of NT$0.56 per shareEligible shareholders must have bought the stock before 29 August 2024. Payment date: 27 September 2024. Payout ratio is a comfortable 35% but the company is not cash flow positive. Trailing yield: 1.7%. Lower than top quartile of Taiwanese dividend payers (4.4%). Lower than average of industry peers (2.6%).Reported Earnings • Aug 17Second quarter 2024 earnings released: EPS: NT$0.62 (vs NT$0.02 loss in 2Q 2023)Second quarter 2024 results: EPS: NT$0.62 (up from NT$0.02 loss in 2Q 2023). Revenue: NT$1.80b (up NT$1.79b from 2Q 2023). Net income: NT$515.7m (up NT$532.8m from 2Q 2023). Profit margin: 29% (up from net loss in 2Q 2023). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 110% per year but the company’s share price has only increased by 55% per year, which means it is significantly lagging earnings growth.공시 • Aug 06Delpha Construction Co.,Ltd. to Report Q2, 2024 Results on Aug 13, 2024Delpha Construction Co.,Ltd. announced that they will report Q2, 2024 results on Aug 13, 2024Valuation Update With 7 Day Price Move • Aug 05Investor sentiment deteriorates as stock falls 16%After last week's 16% share price decline to NT$48.10, the stock trades at a trailing P/E ratio of 56.4x. Average trailing P/E is 22x in the Real Estate industry in Taiwan. Total returns to shareholders of 262% over the past three years.분석 기사 • Aug 02Unpleasant Surprises Could Be In Store For Delpha Construction Co.,Ltd.'s (TWSE:2530) SharesDelpha Construction Co.,Ltd.'s ( TWSE:2530 ) price-to-earnings (or "P/E") ratio of 65.5x might make it look like a...분석 기사 • Jul 11Delpha ConstructionLtd (TWSE:2530) Seems To Use Debt Quite SensiblySome say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...Upcoming Dividend • Jun 20Upcoming dividend of NT$0.20 per shareEligible shareholders must have bought the stock before 27 June 2024. Payment date: 25 July 2024. Payout ratio is on the higher end at 87% but the company is not cash flow positive. Trailing yield: 1.6%. Lower than top quartile of Taiwanese dividend payers (4.2%). Lower than average of industry peers (2.7%).New Risk • Jun 12New 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: 1.7% 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 Debt is not well covered by operating cash flow (currently running at an operating cash loss). Minor Risk Paying a dividend despite having no free cash flows.Reported Earnings • May 19First quarter 2024 earnings released: EPS: NT$0.23 (vs NT$0.012 loss in 1Q 2023)First quarter 2024 results: EPS: NT$0.23 (up from NT$0.012 loss in 1Q 2023). Revenue: NT$759.9m (up NT$756.0m from 1Q 2023). Net income: NT$195.6m (up NT$205.5m from 1Q 2023). Profit margin: 26% (up from net loss in 1Q 2023). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 109% per year but the company’s share price has only increased by 51% per year, which means it is significantly lagging earnings growth.공시 • May 11Delpha Construction Co.,Ltd. Declares Cash Dividend for the First Quarter of 2024, Payable on July 25, 2024Delpha Construction Co.,Ltd. declared that the board of directors approved the cash dividend ex-dividend base date for the first quarter of 2024. Cash dividend of TWD 167,997,600 (TWD 0.20 per share) of common stock. Ex-rights (ex-dividend) trading date is June 27, 2024. Ex-rights (ex-dividend) record date is July 3, 2024. Payment date of common stock cash dividend distribution is July 25, 2024.분석 기사 • May 03With EPS Growth And More, Delpha ConstructionLtd (TWSE:2530) Makes An Interesting CaseFor beginners, it can seem like a good idea (and an exciting prospect) to buy a company that tells a good story to...공시 • May 03Delpha Construction Co.,Ltd. to Report Q1, 2024 Results on May 10, 2024Delpha Construction Co.,Ltd. announced that they will report Q1, 2024 results at 9:00 AM, Taipei Standard Time on May 10, 2024Upcoming Dividend • Apr 18Upcoming dividend of NT$0.54 per shareEligible shareholders must have bought the stock before 25 April 2024. Payment date: 23 May 2024. Payout ratio is on the higher end at 89% but the company is not cash flow positive. Trailing yield: 1.0%. Lower than top quartile of Taiwanese dividend payers (4.6%). Lower than average of industry peers (3.1%).분석 기사 • Apr 08Investors Appear Satisfied With Delpha Construction Co.,Ltd.'s (TWSE:2530) Prospects As Shares Rocket 27%Despite an already strong run, Delpha Construction Co.,Ltd. ( TWSE:2530 ) shares have been powering on, with a gain of...Reported Earnings • Apr 03Full year 2023 earnings released: EPS: NT$0.61 (vs NT$0.56 in FY 2022)Full year 2023 results: EPS: NT$0.61 (up from NT$0.56 in FY 2022). Revenue: NT$1.95b (down 2.1% from FY 2022). Net income: NT$511.0m (up 13% from FY 2022). Profit margin: 26% (up from 23% in FY 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 111% per year but the company’s share price has only increased by 49% per year, which means it is significantly lagging earnings growth.공시 • Mar 31Delpha Construction Co.,Ltd., Annual General Meeting, Jun 25, 2024Delpha Construction Co.,Ltd., Annual General Meeting, Jun 25, 2024. Location: B1, No. 28, Lane 420, Section 5, Chenggong Road, Neihu District Taipei City Taiwan Agenda: To consider 2023 Business Report; to consider Audit Committees Inspection Report on the 2023 Final Statements; to consider 2023 Employees' and directors' remuneration; to consider 2023 Earnings distribution; to consider 2023 Endorsements/guarantee to outside others; to to consider 2023 Directors remuneration; to consider 2023 Transaction processizng status of related parties; and to consider Any other matters that need to be specified.분석 기사 • Mar 12Does Delpha ConstructionLtd (TWSE:2530) Have A Healthy Balance Sheet?Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...Reported Earnings • Aug 12Second quarter 2023 earnings released: NT$0.02 loss per share (vs NT$0.023 profit in 2Q 2022)Second quarter 2023 results: NT$0.02 loss per share (down from NT$0.023 profit in 2Q 2022). Revenue: NT$3.30m (down 98% from 2Q 2022). Net loss: NT$17.1m (down 197% from profit in 2Q 2022). Over the last 3 years on average, earnings per share has increased by 109% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth.공시 • Jun 29+ 1 more updateDelpha Construction Co.,Ltd. Announces Change of Independent DirectorsDelpha Construction Co.,Ltd. appointed Chen, Shih-Yang, Certified public accountant at Chungsun Prime Certified Public Accountants and responsible person of Taipei Branch (7)Yu, Hung-Da, Chairperson of Hefa International Investment Co. Ltd. inplace of Wang, Mu-Fan Chen, Ruei-Li as independent directors, effective June 28, 2023.Valuation Update With 7 Day Price Move • May 02Investor sentiment improves as stock rises 18%After last week's 18% share price gain to NT$23.25, the stock trades at a trailing P/E ratio of 43.2x. Average trailing P/E is 17x in the Real Estate industry in Taiwan. Total returns to shareholders of 54% over the past three years.Upcoming Dividend • Mar 23Upcoming dividend of NT$0.41 per shareEligible shareholders must have bought the stock before 30 March 2023. Payment date: 26 April 2023. The company last paid an ordinary dividend in July 2012. The average dividend yield among industry peers is 5.7%.Reported Earnings • Mar 22Full year 2022 earnings released: EPS: NT$0.56 (vs NT$0.20 loss in FY 2021)Full year 2022 results: EPS: NT$0.56 (up from NT$0.20 loss in FY 2021). Revenue: NT$1.99b (up NT$1.99b from FY 2021). Net income: NT$451.7m (up NT$566.3m from FY 2021). Profit margin: 23% (up from net loss in FY 2021). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 78% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth.공시 • Dec 28Delpha Construction Co.,Ltd. Announces Change of General ManagerDelpha Construction Co.,Ltd. approved the appointment of Huang, Jyh-Jen as new general manager in place of Wu,Yu-Guo, effective date is December 27, 2022.Board Change • Nov 16Less than half of directors are independentThere are 5 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Chien-Wei Yeh was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity.Reported Earnings • Aug 15Second quarter 2022 earnings released: EPS: NT$0.02 (vs NT$0.058 loss in 2Q 2021)Second quarter 2022 results: EPS: NT$0.02 (up from NT$0.058 loss in 2Q 2021). Revenue: NT$205.3m (up NT$203.2m from 2Q 2021). Net income: NT$17.6m (up NT$47.9m from 2Q 2021). Profit margin: 8.6% (up from net loss in 2Q 2021). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings.Reported Earnings • May 16First quarter 2022 earnings released: EPS: NT$0.04 (vs NT$0.037 loss in 1Q 2021)First quarter 2022 results: EPS: NT$0.04 (up from NT$0.037 loss in 1Q 2021). Net income: NT$28.1m (up NT$47.5m from 1Q 2021). Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings.Board Change • Apr 27Less than half of directors are independentFollowing the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 4 non-independent directors. Independent Director Chien-Wei Yeh was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.Reported Earnings • Apr 03Full year 2021 earnings released: NT$0.20 loss per share (vs NT$0.32 loss in FY 2020)Full year 2021 results: NT$0.20 loss per share. Net loss: NT$114.6m (loss widened 28% from FY 2020).Reported Earnings • Nov 12Third quarter 2021 earnings released: NT$0.07 loss per share (vs NT$0.087 loss in 3Q 2020)Third quarter 2021 results: Net loss: NT$40.9m (loss widened 73% from 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 61% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings.Reported Earnings • May 16First quarter 2021 earnings released: NT$0.04 loss per share (vs NT$0.085 loss in 1Q 2020)First quarter 2021 results: Net loss: NT$19.5m (loss narrowed 15% from 1Q 2020). Over the last 3 years on average, earnings per share has fallen by 46% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings.분석 기사 • Apr 26Is Delpha ConstructionLtd (TPE:2530) Weighed On By Its Debt Load?Warren Buffett famously said, 'Volatility is far from synonymous with risk.' It's only natural to consider a company's...Reported Earnings • Mar 31Full year 2020 earnings released: NT$0.32 loss per share (vs NT$0.25 loss in FY 2019)Full year 2020 results: Net loss: NT$89.6m (loss widened 31% from FY 2019). Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings.Is New 90 Day High Low • Mar 05New 90-day high: NT$14.55The company is up 3.0% from its price of NT$14.15 on 04 December 2020. The Taiwanese market is up 12% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Real Estate industry, which is up 2.0% over the same period.분석 기사 • Mar 03Delpha ConstructionLtd's (TPE:2530) Stock Price Has Reduced 22% In The Past Five YearsThe main aim of stock picking is to find the market-beating stocks. But every investor is virtually certain to have...Is New 90 Day High Low • Jan 20New 90-day low: NT$13.55The company is down 11% from its price of NT$15.30 on 22 October 2020. The Taiwanese market is up 22% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Real Estate industry, which is up 3.0% over the same period.분석 기사 • Jan 09Is Delpha ConstructionLtd (TPE:2530) Using Too Much Debt?Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...Is New 90 Day High Low • Dec 04New 90-day low: NT$14.15The company is down 10.0% from its price of NT$15.80 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 Real Estate industry, which is up 5.0% over the same period.Is New 90 Day High Low • Nov 17New 90-day low: NT$14.85The company is down 9.0% from its price of NT$16.25 on 19 August 2020. The Taiwanese market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Real Estate industry, which is up 3.0% over the same period.Reported Earnings • Nov 14Third quarter 2020 earnings released: NT$0.09 loss per shareThird quarter 2020 results: Net loss: NT$23.6m (loss widened 83% from 3Q 2019). Over the last 3 years on average, earnings per share has increased by 5% per year whereas the company’s share price has increased by 3% per year.Is New 90 Day High Low • Sep 23New 90-day low: NT$15.50The company is down 14% from its price of NT$17.95 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 Real Estate industry, which is up 7.0% over the same period.주주 수익률2530TW Real EstateTW 시장7D-2.6%-0.7%2.6%1Y-39.5%-20.9%94.7%전체 주주 수익률 보기수익률 대 산업: 2530은 지난 1년 동안 -20.9%의 수익을 기록한 TW Real Estate 산업보다 저조한 성과를 냈습니다.수익률 대 시장: 2530은 지난 1년 동안 94.7%를 기록한 TW 시장보다 저조한 성과를 냈습니다.주가 변동성Is 2530's price volatile compared to industry and market?2530 volatility2530 Average Weekly Movement3.3%Real Estate Industry Average Movement3.3%Market Average Movement6.2%10% most volatile stocks in TW Market12.2%10% least volatile stocks in TW Market2.5%안정적인 주가: 2530는 지난 3개월 동안 TW 시장에 비해 주가 변동성이 크지 않았습니다.시간에 따른 변동성: 2530의 주간 변동성(3%)은 지난 1년 동안 안정적이었습니다.회사 소개설립직원 수CEO웹사이트1949n/aJyh-Jen Huangwww.delpha.com.tw델파 건설은 대만에서 상업용 건물을 건설하는 회사입니다. 주택 임대 및 판매, 전문 영역 개발, 인테리어 장식, 임대 및 투자 활동을 하고 있습니다. 이 회사는 1949년에 설립되었으며 대만 타이베이시에 본사를 두고 있습니다.더 보기Delpha Construction Co.,Ltd. 기초 지표 요약Delpha ConstructionLtd의 순이익과 매출은 시가총액과 어떻게 비교됩니까?2530 기초 통계시가총액NT$17.18b순이익 (TTM)NT$1.65b매출 (TTM)NT$6.36b10.4x주가수익비율(P/E)2.7x주가매출비율(P/S)2530는 고평가되어 있습니까?공정 가치 및 평가 분석 보기순이익 및 매출최근 실적 보고서(TTM)의 주요 수익성 지표2530 손익계산서 (TTM)매출NT$6.36b매출원가NT$3.79b총이익NT$2.57b기타 비용NT$919.01m순이익NT$1.65b최근 보고된 실적Mar 31, 2026다음 실적 발표일해당 없음주당순이익(EPS)1.97총이익률40.41%순이익률25.97%부채/자본 비율160.7%2530의 장기 실적은 어땠습니까?과거 실적 및 비교 보기배당14.6%현재 배당 수익률90%배당 성향View Valuation기업 분석 및 재무 데이터 상태데이터최종 업데이트 (UTC 시간)기업 분석2026/05/22 10:12종가2026/05/22 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 자세한 내용은 당사의 Github 페이지에서 확인하실 수 있습니다. 또한 보고서 활용 방법에 대한 가이드와 YouTube 튜토리얼도 제공합니다.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 소스Delpha Construction Co.,Ltd.는 3명의 분석가가 다루고 있습니다. 이 중 1명의 분석가가 우리 보고서에 입력 데이터로 사용되는 매출 또는 수익 추정치를 제출했습니다. 분석가의 제출 자료는 하루 종일 업데이트됩니다.분석가기관Cai JihengCapital Securities CorporationLiren LiangMasterlink Securities Investment Advisorynull nullUBS Investment Bank
New Risk • May 18New major risk - Financial positionThe company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 13% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (13% operating cash flow to total debt). Minor Risk Dividend is not well covered by cash flows (119% cash payout ratio).
Reported Earnings • May 16First quarter 2026 earnings released: NT$0.037 loss per share (vs NT$0.021 profit in 1Q 2025)First quarter 2026 results: NT$0.037 loss per share (down from NT$0.021 profit in 1Q 2025). Revenue: NT$186.7m (up 16% from 1Q 2025). Net loss: NT$31.1m (down 277% from profit in 1Q 2025). Revenue is forecast to grow 43% p.a. on average during the next 2 years, compared to a 16% growth forecast for the Real Estate industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings.
공시 • Apr 17Delpha Construction Co.,Ltd. (TWSE:2530) acquired an additional minority stake in BES Engineering Corporation (TWSE:2515).Delpha Construction Co.,Ltd. (TWSE:2530) acquired an additional minority stake in BES Engineering Corporation (TWSE:2515) on April 16, 2026. On completion, Delpha Construction Co.,Ltd. has now secured a 22% stake in the Company. This acquisition of equity signals Delpha's commitment to obtaining control and participating directly in BES management to force a long-overdue transition toward strengthened corporate governance and enhanced operational stability. Delpha Construction Co.,Ltd. (TWSE:2530) completed the acquisition of an additional minority stake in BES Engineering Corporation (TWSE:2515) on April 16, 2026.
공시 • Apr 10Delpha Construction Co.,Ltd., Annual General Meeting, Jun 26, 2026Delpha Construction Co.,Ltd., Annual General Meeting, Jun 26, 2026, at 09:00 Taipei Standard Time. Location: b1 floor no,28 ln.420, sec.5 ch`eng kung rd., neihu district, taipei city Taiwan
Price Target Changed • Apr 07Price target decreased by 13% to NT$27.00Down from NT$31.00, the current price target is provided by 1 analyst. New target price is 13% above last closing price of NT$23.95. Stock is down 26% over the past year. The company posted earnings per share of NT$2.03 last year.
Reported Earnings • Mar 31Full year 2025 earnings released: EPS: NT$2.03 (vs NT$1.94 in FY 2024)Full year 2025 results: EPS: NT$2.03 (up from NT$1.94 in FY 2024). Revenue: NT$6.34b (up 4.0% from FY 2024). Net income: NT$1.70b (up 4.4% from FY 2024). Profit margin: 27% (in line with FY 2024). Revenue is forecast to grow 39% p.a. on average during the next 2 years, compared to a 16% growth forecast for the Real Estate industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 56% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth.
New Risk • May 18New major risk - Financial positionThe company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 13% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (13% operating cash flow to total debt). Minor Risk Dividend is not well covered by cash flows (119% cash payout ratio).
Reported Earnings • May 16First quarter 2026 earnings released: NT$0.037 loss per share (vs NT$0.021 profit in 1Q 2025)First quarter 2026 results: NT$0.037 loss per share (down from NT$0.021 profit in 1Q 2025). Revenue: NT$186.7m (up 16% from 1Q 2025). Net loss: NT$31.1m (down 277% from profit in 1Q 2025). Revenue is forecast to grow 43% p.a. on average during the next 2 years, compared to a 16% growth forecast for the Real Estate industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings.
공시 • Apr 17Delpha Construction Co.,Ltd. (TWSE:2530) acquired an additional minority stake in BES Engineering Corporation (TWSE:2515).Delpha Construction Co.,Ltd. (TWSE:2530) acquired an additional minority stake in BES Engineering Corporation (TWSE:2515) on April 16, 2026. On completion, Delpha Construction Co.,Ltd. has now secured a 22% stake in the Company. This acquisition of equity signals Delpha's commitment to obtaining control and participating directly in BES management to force a long-overdue transition toward strengthened corporate governance and enhanced operational stability. Delpha Construction Co.,Ltd. (TWSE:2530) completed the acquisition of an additional minority stake in BES Engineering Corporation (TWSE:2515) on April 16, 2026.
공시 • Apr 10Delpha Construction Co.,Ltd., Annual General Meeting, Jun 26, 2026Delpha Construction Co.,Ltd., Annual General Meeting, Jun 26, 2026, at 09:00 Taipei Standard Time. Location: b1 floor no,28 ln.420, sec.5 ch`eng kung rd., neihu district, taipei city Taiwan
Price Target Changed • Apr 07Price target decreased by 13% to NT$27.00Down from NT$31.00, the current price target is provided by 1 analyst. New target price is 13% above last closing price of NT$23.95. Stock is down 26% over the past year. The company posted earnings per share of NT$2.03 last year.
Reported Earnings • Mar 31Full year 2025 earnings released: EPS: NT$2.03 (vs NT$1.94 in FY 2024)Full year 2025 results: EPS: NT$2.03 (up from NT$1.94 in FY 2024). Revenue: NT$6.34b (up 4.0% from FY 2024). Net income: NT$1.70b (up 4.4% from FY 2024). Profit margin: 27% (in line with FY 2024). Revenue is forecast to grow 39% p.a. on average during the next 2 years, compared to a 16% growth forecast for the Real Estate industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 56% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth.
Upcoming Dividend • Dec 02Upcoming dividend of NT$0.75 per shareEligible shareholders must have bought the stock before 09 December 2025. Payment date: 07 January 2026. The company is paying out more than 100% of its profits and is paying out 83% of its cash flow. Trailing yield: 7.9%. Within top quartile of Taiwanese dividend payers (5.4%). Higher than average of industry peers (5.3%).
New Risk • Nov 17New major risk - Financial positionThe company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 14% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (14% operating cash flow to total debt). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past.
Declared Dividend • Nov 14Third quarter dividend of NT$0.75 announcedShareholders will receive a dividend of NT$0.75. Ex-date: 9th December 2025 Payment date: 7th January 2026 Dividend yield will be 9.6%, which is higher than the industry average of 3.7%. Sustainability & Growth Dividend is well covered by both earnings (17% earnings payout ratio) and cash flows (41% cash payout ratio). The dividend has increased by an average of 39% per year over the past 3 years. However, payments have been volatile during that time. Earnings per share has grown by 71% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover.
Reported Earnings • Nov 14Third quarter 2025 earnings released: EPS: NT$0.82 (vs NT$0.63 in 3Q 2024)Third quarter 2025 results: EPS: NT$0.82 (up from NT$0.63 in 3Q 2024). Revenue: NT$2.56b (up 28% from 3Q 2024). Net income: NT$684.1m (up 30% from 3Q 2024). Profit margin: 27% (in line with 3Q 2024). Revenue is forecast to grow 92% p.a. on average during the next 2 years, compared to a 67% growth forecast for the Real Estate industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 69% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth.
Upcoming Dividend • Sep 04Upcoming dividend of NT$1.10 per shareEligible shareholders must have bought the stock before 08 September 2025. Payment date: 03 October 2025. The company last paid an ordinary dividend in March 2023. The average dividend yield among industry peers is 4.9%.
Declared Dividend • Aug 21Second quarter dividend of NT$1.10 announcedShareholders will receive a dividend of NT$1.10. Ex-date: 8th September 2025 Payment date: 3rd October 2025 Dividend yield will be 7.8%, which is higher than the industry average of 3.7%.
Reported Earnings • Aug 15Second quarter 2025 earnings released: EPS: NT$1.23 (vs NT$0.61 in 2Q 2024)Second quarter 2025 results: EPS: NT$1.23 (up from NT$0.61 in 2Q 2024). Revenue: NT$3.48b (up 93% from 2Q 2024). Net income: NT$1.03b (up 101% from 2Q 2024). Profit margin: 30% (up from 29% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 80% p.a. on average during the next 2 years, compared to a 61% growth forecast for the Real Estate industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 77% per year but the company’s share price has only increased by 30% per year, which means it is significantly lagging earnings growth.
Upcoming Dividend • Jul 16Upcoming dividend of NT$0.40 per shareEligible shareholders must have bought the stock before 23 July 2025. Payment date: 20 August 2025. The company last paid an ordinary dividend in March 2023. The average dividend yield among industry peers is 3.9%.
Reported Earnings • May 15First quarter 2025 earnings released: EPS: NT$0.02 (vs NT$0.23 in 1Q 2024)First quarter 2025 results: EPS: NT$0.02 (down from NT$0.23 in 1Q 2024). Revenue: NT$161.6m (down 79% from 1Q 2024). Net income: NT$17.6m (down 91% from 1Q 2024). Profit margin: 11% (down from 26% in 1Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 86% per year but the company’s share price has only increased by 33% per year, which means it is significantly lagging earnings growth.
공시 • May 03Delpha Construction Co.,Ltd. to Report Q1, 2025 Results on May 12, 2025Delpha Construction Co.,Ltd. announced that they will report Q1, 2025 results on May 12, 2025
Upcoming Dividend • Apr 17Upcoming dividend of NT$0.42 per shareEligible shareholders must have bought the stock before 24 April 2025. Payment date: 23 May 2025. Payout ratio is on the higher end at 90% but the company is not cash flow positive. Trailing yield: 5.2%. Lower than top quartile of Taiwanese dividend payers (5.4%). Higher than average of industry peers (4.0%).
Buy Or Sell Opportunity • Apr 10Now 29% overvaluedOver the last 90 days, the stock has fallen 6.1% to NT$34.50. The fair value is estimated to be NT$26.69, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 86% over the last 3 years. Meanwhile, the company has become profitable.
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$32.50, the stock trades at a trailing P/E ratio of 16.8x. Average trailing P/E is 12x in the Real Estate industry in Taiwan. Total returns to shareholders of 135% over the past three years.
New Risk • Apr 06New major risk - Dividend sustainabilityThe dividend is not well covered by earnings and cash flows. Payout ratio: 90% The company is paying a dividend despite having no free cash flows. Dividend yield: 5.9% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. 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 Debt is not well covered by operating cash flow (currently running at an operating cash loss). Dividend is not well covered by earnings and cash flows. Payout ratio: 90% Paying a dividend despite having no free cash flows.
Reported Earnings • Apr 01Full year 2024 earnings released: EPS: NT$1.94 (vs NT$0.61 in FY 2023)Full year 2024 results: EPS: NT$1.94 (up from NT$0.61 in FY 2023). Revenue: NT$6.10b (up 212% from FY 2023). Net income: NT$1.63b (up 219% from FY 2023). Profit margin: 27% (in line with FY 2023). Over the last 3 years on average, earnings per share has increased by 99% per year but the company’s share price has only increased by 39% per year, which means it is significantly lagging earnings growth.
공시 • Mar 28Delpha Construction Co.,Ltd., Annual General Meeting, Jun 26, 2025Delpha Construction Co.,Ltd., Annual General Meeting, Jun 26, 2025, at 09:00 Taipei Standard Time. Location: b1 floor no,28 ln.420, sec.5 ch`eng kung rd., neihu district, taipei city Taiwan
분석 기사 • Mar 28Delpha ConstructionLtd (TWSE:2530) Will Pay A Smaller Dividend Than Last YearDelpha Construction Co.,Ltd. ( TWSE:2530 ) is reducing its dividend from last year's comparable payment to NT$0.4192 on...
Declared Dividend • Mar 28Third quarter dividend of NT$0.42 announcedShareholders will receive a dividend of NT$0.42. Ex-date: 24th April 2025 Payment date: 23rd May 2025 Dividend yield will be 4.3%, which is higher than the industry average of 3.7%. Sustainability & Growth Dividend is covered by earnings (88% 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 137% per year over the past 2 years and payments have been stable during that time. Earnings per share has grown by 77% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover.
공시 • Mar 27Delpha Construction Co.,Ltd. Announces Dividend for the Fourth Quarter of 2024, Payable on 23 May 2025Delpha Construction Co.,Ltd. at its the board of directors or shareholders meeting held on 26 March 2025 announced the cash dividend of TWD 352,149,582 (TWD 0.41923168 per share) of common stock for the fourth quarter of 2024. The dividend will payable on 23 May 2025. The ex-rights (ex-dividend) record date is 2 May 2025 and the ex-rights (ex-dividend) trading date is 24 April 2025.
공시 • Mar 07Delpha Construction Co.,Ltd. to Report Fiscal Year 2024 Results on Mar 14, 2025Delpha Construction Co.,Ltd. announced that they will report fiscal year 2024 results on Mar 14, 2025
Buy Or Sell Opportunity • Feb 17Now 21% overvaluedThe stock has been flat over the last 90 days, currently trading at NT$40.15. The fair value is estimated to be NT$33.30, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 92% over the last 3 years. Meanwhile, the company has become profitable.
분석 기사 • Jan 10Delpha Construction Co.,Ltd.'s (TWSE:2530) Business And Shares Still Trailing The MarketWhen close to half the companies in Taiwan have price-to-earnings ratios (or "P/E's") above 21x, you may consider...
분석 기사 • Dec 10A Look At The Fair Value Of Delpha Construction Co.,Ltd. (TWSE:2530)Key Insights The projected fair value for Delpha ConstructionLtd is NT$36.03 based on Dividend Discount Model With...
Upcoming Dividend • Nov 21Upcoming dividend of NT$0.58 per shareEligible shareholders must have bought the stock before 28 November 2024. Payment date: 26 December 2024. Payout ratio is a comfortable 26% but the company is not cash flow positive. Trailing yield: 5.4%. Within top quartile of Taiwanese dividend payers (4.5%). Higher than average of industry peers (3.3%).
Buy Or Sell Opportunity • Nov 21Now 24% overvaluedOver the last 90 days, the stock has fallen 7.6% to NT$42.75. The fair value is estimated to be NT$34.52, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 92% over the last 3 years. Meanwhile, the company has become profitable.
Reported Earnings • Nov 18Third quarter 2024 earnings released: EPS: NT$0.63 (vs NT$0.024 loss in 3Q 2023)Third quarter 2024 results: EPS: NT$0.63 (up from NT$0.024 loss in 3Q 2023). Revenue: NT$2.00b (up NT$2.00b from 3Q 2023). Net income: NT$528.2m (up NT$548.7m from 3Q 2023). Profit margin: 26% (up from net loss in 3Q 2023). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 108% per year but the company’s share price has only increased by 40% per year, which means it is significantly lagging earnings growth.
공시 • Nov 05Delpha Construction Co.,Ltd. to Report Q3, 2024 Results on Nov 12, 2024Delpha Construction Co.,Ltd. announced that they will report Q3, 2024 results on Nov 12, 2024
Upcoming Dividend • Aug 22Upcoming dividend of NT$0.56 per shareEligible shareholders must have bought the stock before 29 August 2024. Payment date: 27 September 2024. Payout ratio is a comfortable 35% but the company is not cash flow positive. Trailing yield: 1.7%. Lower than top quartile of Taiwanese dividend payers (4.4%). Lower than average of industry peers (2.6%).
Reported Earnings • Aug 17Second quarter 2024 earnings released: EPS: NT$0.62 (vs NT$0.02 loss in 2Q 2023)Second quarter 2024 results: EPS: NT$0.62 (up from NT$0.02 loss in 2Q 2023). Revenue: NT$1.80b (up NT$1.79b from 2Q 2023). Net income: NT$515.7m (up NT$532.8m from 2Q 2023). Profit margin: 29% (up from net loss in 2Q 2023). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 110% per year but the company’s share price has only increased by 55% per year, which means it is significantly lagging earnings growth.
공시 • Aug 06Delpha Construction Co.,Ltd. to Report Q2, 2024 Results on Aug 13, 2024Delpha Construction Co.,Ltd. announced that they will report Q2, 2024 results on Aug 13, 2024
Valuation Update With 7 Day Price Move • Aug 05Investor sentiment deteriorates as stock falls 16%After last week's 16% share price decline to NT$48.10, the stock trades at a trailing P/E ratio of 56.4x. Average trailing P/E is 22x in the Real Estate industry in Taiwan. Total returns to shareholders of 262% over the past three years.
분석 기사 • Aug 02Unpleasant Surprises Could Be In Store For Delpha Construction Co.,Ltd.'s (TWSE:2530) SharesDelpha Construction Co.,Ltd.'s ( TWSE:2530 ) price-to-earnings (or "P/E") ratio of 65.5x might make it look like a...
분석 기사 • Jul 11Delpha ConstructionLtd (TWSE:2530) Seems To Use Debt Quite SensiblySome say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...
Upcoming Dividend • Jun 20Upcoming dividend of NT$0.20 per shareEligible shareholders must have bought the stock before 27 June 2024. Payment date: 25 July 2024. Payout ratio is on the higher end at 87% but the company is not cash flow positive. Trailing yield: 1.6%. Lower than top quartile of Taiwanese dividend payers (4.2%). Lower than average of industry peers (2.7%).
New Risk • Jun 12New 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: 1.7% 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 Debt is not well covered by operating cash flow (currently running at an operating cash loss). Minor Risk Paying a dividend despite having no free cash flows.
Reported Earnings • May 19First quarter 2024 earnings released: EPS: NT$0.23 (vs NT$0.012 loss in 1Q 2023)First quarter 2024 results: EPS: NT$0.23 (up from NT$0.012 loss in 1Q 2023). Revenue: NT$759.9m (up NT$756.0m from 1Q 2023). Net income: NT$195.6m (up NT$205.5m from 1Q 2023). Profit margin: 26% (up from net loss in 1Q 2023). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 109% per year but the company’s share price has only increased by 51% per year, which means it is significantly lagging earnings growth.
공시 • May 11Delpha Construction Co.,Ltd. Declares Cash Dividend for the First Quarter of 2024, Payable on July 25, 2024Delpha Construction Co.,Ltd. declared that the board of directors approved the cash dividend ex-dividend base date for the first quarter of 2024. Cash dividend of TWD 167,997,600 (TWD 0.20 per share) of common stock. Ex-rights (ex-dividend) trading date is June 27, 2024. Ex-rights (ex-dividend) record date is July 3, 2024. Payment date of common stock cash dividend distribution is July 25, 2024.
분석 기사 • May 03With EPS Growth And More, Delpha ConstructionLtd (TWSE:2530) Makes An Interesting CaseFor beginners, it can seem like a good idea (and an exciting prospect) to buy a company that tells a good story to...
공시 • May 03Delpha Construction Co.,Ltd. to Report Q1, 2024 Results on May 10, 2024Delpha Construction Co.,Ltd. announced that they will report Q1, 2024 results at 9:00 AM, Taipei Standard Time on May 10, 2024
Upcoming Dividend • Apr 18Upcoming dividend of NT$0.54 per shareEligible shareholders must have bought the stock before 25 April 2024. Payment date: 23 May 2024. Payout ratio is on the higher end at 89% but the company is not cash flow positive. Trailing yield: 1.0%. Lower than top quartile of Taiwanese dividend payers (4.6%). Lower than average of industry peers (3.1%).
분석 기사 • Apr 08Investors Appear Satisfied With Delpha Construction Co.,Ltd.'s (TWSE:2530) Prospects As Shares Rocket 27%Despite an already strong run, Delpha Construction Co.,Ltd. ( TWSE:2530 ) shares have been powering on, with a gain of...
Reported Earnings • Apr 03Full year 2023 earnings released: EPS: NT$0.61 (vs NT$0.56 in FY 2022)Full year 2023 results: EPS: NT$0.61 (up from NT$0.56 in FY 2022). Revenue: NT$1.95b (down 2.1% from FY 2022). Net income: NT$511.0m (up 13% from FY 2022). Profit margin: 26% (up from 23% in FY 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 111% per year but the company’s share price has only increased by 49% per year, which means it is significantly lagging earnings growth.
공시 • Mar 31Delpha Construction Co.,Ltd., Annual General Meeting, Jun 25, 2024Delpha Construction Co.,Ltd., Annual General Meeting, Jun 25, 2024. Location: B1, No. 28, Lane 420, Section 5, Chenggong Road, Neihu District Taipei City Taiwan Agenda: To consider 2023 Business Report; to consider Audit Committees Inspection Report on the 2023 Final Statements; to consider 2023 Employees' and directors' remuneration; to consider 2023 Earnings distribution; to consider 2023 Endorsements/guarantee to outside others; to to consider 2023 Directors remuneration; to consider 2023 Transaction processizng status of related parties; and to consider Any other matters that need to be specified.
분석 기사 • Mar 12Does Delpha ConstructionLtd (TWSE:2530) Have A Healthy Balance Sheet?Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...
Reported Earnings • Aug 12Second quarter 2023 earnings released: NT$0.02 loss per share (vs NT$0.023 profit in 2Q 2022)Second quarter 2023 results: NT$0.02 loss per share (down from NT$0.023 profit in 2Q 2022). Revenue: NT$3.30m (down 98% from 2Q 2022). Net loss: NT$17.1m (down 197% from profit in 2Q 2022). Over the last 3 years on average, earnings per share has increased by 109% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth.
공시 • Jun 29+ 1 more updateDelpha Construction Co.,Ltd. Announces Change of Independent DirectorsDelpha Construction Co.,Ltd. appointed Chen, Shih-Yang, Certified public accountant at Chungsun Prime Certified Public Accountants and responsible person of Taipei Branch (7)Yu, Hung-Da, Chairperson of Hefa International Investment Co. Ltd. inplace of Wang, Mu-Fan Chen, Ruei-Li as independent directors, effective June 28, 2023.
Valuation Update With 7 Day Price Move • May 02Investor sentiment improves as stock rises 18%After last week's 18% share price gain to NT$23.25, the stock trades at a trailing P/E ratio of 43.2x. Average trailing P/E is 17x in the Real Estate industry in Taiwan. Total returns to shareholders of 54% over the past three years.
Upcoming Dividend • Mar 23Upcoming dividend of NT$0.41 per shareEligible shareholders must have bought the stock before 30 March 2023. Payment date: 26 April 2023. The company last paid an ordinary dividend in July 2012. The average dividend yield among industry peers is 5.7%.
Reported Earnings • Mar 22Full year 2022 earnings released: EPS: NT$0.56 (vs NT$0.20 loss in FY 2021)Full year 2022 results: EPS: NT$0.56 (up from NT$0.20 loss in FY 2021). Revenue: NT$1.99b (up NT$1.99b from FY 2021). Net income: NT$451.7m (up NT$566.3m from FY 2021). Profit margin: 23% (up from net loss in FY 2021). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 78% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth.
공시 • Dec 28Delpha Construction Co.,Ltd. Announces Change of General ManagerDelpha Construction Co.,Ltd. approved the appointment of Huang, Jyh-Jen as new general manager in place of Wu,Yu-Guo, effective date is December 27, 2022.
Board Change • Nov 16Less than half of directors are independentThere are 5 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Chien-Wei Yeh was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity.
Reported Earnings • Aug 15Second quarter 2022 earnings released: EPS: NT$0.02 (vs NT$0.058 loss in 2Q 2021)Second quarter 2022 results: EPS: NT$0.02 (up from NT$0.058 loss in 2Q 2021). Revenue: NT$205.3m (up NT$203.2m from 2Q 2021). Net income: NT$17.6m (up NT$47.9m from 2Q 2021). Profit margin: 8.6% (up from net loss in 2Q 2021). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings.
Reported Earnings • May 16First quarter 2022 earnings released: EPS: NT$0.04 (vs NT$0.037 loss in 1Q 2021)First quarter 2022 results: EPS: NT$0.04 (up from NT$0.037 loss in 1Q 2021). Net income: NT$28.1m (up NT$47.5m from 1Q 2021). Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings.
Board Change • Apr 27Less than half of directors are independentFollowing the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 4 non-independent directors. Independent Director Chien-Wei Yeh was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
Reported Earnings • Apr 03Full year 2021 earnings released: NT$0.20 loss per share (vs NT$0.32 loss in FY 2020)Full year 2021 results: NT$0.20 loss per share. Net loss: NT$114.6m (loss widened 28% from FY 2020).
Reported Earnings • Nov 12Third quarter 2021 earnings released: NT$0.07 loss per share (vs NT$0.087 loss in 3Q 2020)Third quarter 2021 results: Net loss: NT$40.9m (loss widened 73% from 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 61% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings.
Reported Earnings • May 16First quarter 2021 earnings released: NT$0.04 loss per share (vs NT$0.085 loss in 1Q 2020)First quarter 2021 results: Net loss: NT$19.5m (loss narrowed 15% from 1Q 2020). Over the last 3 years on average, earnings per share has fallen by 46% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings.
분석 기사 • Apr 26Is Delpha ConstructionLtd (TPE:2530) Weighed On By Its Debt Load?Warren Buffett famously said, 'Volatility is far from synonymous with risk.' It's only natural to consider a company's...
Reported Earnings • Mar 31Full year 2020 earnings released: NT$0.32 loss per share (vs NT$0.25 loss in FY 2019)Full year 2020 results: Net loss: NT$89.6m (loss widened 31% from FY 2019). Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings.
Is New 90 Day High Low • Mar 05New 90-day high: NT$14.55The company is up 3.0% from its price of NT$14.15 on 04 December 2020. The Taiwanese market is up 12% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Real Estate industry, which is up 2.0% over the same period.
분석 기사 • Mar 03Delpha ConstructionLtd's (TPE:2530) Stock Price Has Reduced 22% In The Past Five YearsThe main aim of stock picking is to find the market-beating stocks. But every investor is virtually certain to have...
Is New 90 Day High Low • Jan 20New 90-day low: NT$13.55The company is down 11% from its price of NT$15.30 on 22 October 2020. The Taiwanese market is up 22% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Real Estate industry, which is up 3.0% over the same period.
분석 기사 • Jan 09Is Delpha ConstructionLtd (TPE:2530) Using Too Much Debt?Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...
Is New 90 Day High Low • Dec 04New 90-day low: NT$14.15The company is down 10.0% from its price of NT$15.80 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 Real Estate industry, which is up 5.0% over the same period.
Is New 90 Day High Low • Nov 17New 90-day low: NT$14.85The company is down 9.0% from its price of NT$16.25 on 19 August 2020. The Taiwanese market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Real Estate industry, which is up 3.0% over the same period.
Reported Earnings • Nov 14Third quarter 2020 earnings released: NT$0.09 loss per shareThird quarter 2020 results: Net loss: NT$23.6m (loss widened 83% from 3Q 2019). Over the last 3 years on average, earnings per share has increased by 5% per year whereas the company’s share price has increased by 3% per year.
Is New 90 Day High Low • Sep 23New 90-day low: NT$15.50The company is down 14% from its price of NT$17.95 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 Real Estate industry, which is up 7.0% over the same period.
