National Petroleum (9937) 주식 개요는 대만에서 주유소 사업을 영위하고 있습니다. 자세히 보기9937 펀더멘털 분석스노우플레이크 점수가치 평가2/6미래 성장0/6과거 실적4/6재무 건전성4/6배당5/6강점공정 가치 추정치보다 낮은 64.2% 에서 거래지난 1년간 수익이 9.9% 증가했습니다.4% 의 안정적인 배당금을 지급합니다.위험 분석지난 5년간 매년 수익이 1.2% 감소했습니다.모든 위험 점검 보기9937 Community Fair Values Create NarrativeSee what others think this stock is worth. Follow their fair value or set your own to get alerts.NEW463,021 membersJoin community and earn perksGain real feedbackFrom our editorial team, personally. Not silence.Grow your followingReal investors. The kind who actually invest, not scroll past.Unlock free accessFree premium subscription for consistent and quality authors.Learn moreCreate NarrativeBLINRODA463,021 investors already sharing narrativesYour Fair ValueNT$Current PriceNT$55.0027.3% 고평가 내재 할인율Growth estimate overAnnual revenue growth rate5 Yearstime period%/yrDecreaseIncreasePastFuture025b2016201920222025202620282031Revenue NT$24.9bEarnings NT$864.3mAdvancedSet Fair ValueView all narrativesNational Petroleum Co., Ltd. 경쟁사Pan German Universal MotorsSymbol: TWSE:2247Market cap: NT$18.1bNorth-Star InternationalSymbol: TPEX:8927Market cap: NT$8.4bHotai MotorLtdSymbol: TWSE:2207Market cap: NT$283.0bSenao InternationalLtdSymbol: TWSE:2450Market cap: NT$7.3b가격 이력 및 성과National Petroleum 주가의 최고가, 최저가 및 변동 요약과거 주가현재 주가NT$55.0052주 최고가NT$65.0052주 최저가NT$53.50베타0.121개월 변동-0.18%3개월 변동-1.08%1년 변동-10.86%3년 변동-18.52%5년 변동14.82%IPO 이후 변동172.47%최근 뉴스 및 업데이트Reported Earnings • Aug 08Second quarter 2026 earnings released: EPS: NT$0.64 (vs NT$0.56 in 2Q 2025)Second quarter 2026 results: EPS: NT$0.64 (up from NT$0.56 in 2Q 2025). Revenue: NT$6.34b (up 13% from 2Q 2025). Net income: NT$198.5m (up 15% from 2Q 2025). Profit margin: 3.1% (in line with 2Q 2025). Over the last 3 years on average, earnings per share has remained flat but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings.Declared Dividend • Jul 01Dividend increased to NT$2.20Dividend of NT$2.20 is 4.8% higher than last year. Ex-date: 16th July 2026 Payment date: 14th August 2026 Dividend yield will be 4.0%, which is higher than the industry average of 1.2%. Sustainability & Growth Dividend is covered by both earnings (88% earnings payout ratio) and cash flows (77% cash payout ratio). The dividend has increased by an average of 6.2% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. The company's earnings per share (EPS) would need to decline by 1.8% to shift the payout ratio to a potentially unsustainable range, which is similar to the EPS decline seen over the last 5 years.Reported Earnings • May 09First quarter 2026 earnings released: EPS: NT$0.66 (vs NT$0.53 in 1Q 2025)First quarter 2026 results: EPS: NT$0.66 (up from NT$0.53 in 1Q 2025). Revenue: NT$5.40b (down 6.8% from 1Q 2025). Net income: NT$202.7m (up 24% from 1Q 2025). Profit margin: 3.8% (up from 2.8% in 1Q 2025). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has fallen by 1% per year.New Risk • Mar 27New minor risk - Dividend sustainabilityThe dividend is not well covered by earnings. Payout ratio: 93% Dividend yield: 3.9% This is considered a minor risk. Companies that pay out too much of their earnings are at risk of having to reduce or cut their dividend in future. If earnings growth slows or earnings fall, then there may not be enough earnings 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. However, this risk is mitigated by the fact the dividend is covered by cash flows. 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 2.5% per year over the past 5 years. Minor Risk Dividend is not well covered by earnings (93% payout ratio).Reported Earnings • Mar 13Full year 2025 earnings released: EPS: NT$2.36 (vs NT$2.39 in FY 2024)Full year 2025 results: EPS: NT$2.36 (down from NT$2.39 in FY 2024). Revenue: NT$22.5b (down 6.2% from FY 2024). Net income: NT$730.0m (down 1.1% from FY 2024). Profit margin: 3.2% (up from 3.1% in FY 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has fallen by 4% per year.공고 • Mar 12National Petroleum Co., Ltd., Annual General Meeting, Jun 23, 2026National Petroleum Co., Ltd., Annual General Meeting, Jun 23, 2026. Location: 2 floor no,223, sec.3 pei hsin rd., sindian district, new taipei city Taiwan더 많은 업데이트 보기Recent updatesReported Earnings • Aug 08Second quarter 2026 earnings released: EPS: NT$0.64 (vs NT$0.56 in 2Q 2025)Second quarter 2026 results: EPS: NT$0.64 (up from NT$0.56 in 2Q 2025). Revenue: NT$6.34b (up 13% from 2Q 2025). Net income: NT$198.5m (up 15% from 2Q 2025). Profit margin: 3.1% (in line with 2Q 2025). Over the last 3 years on average, earnings per share has remained flat but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings.Declared Dividend • Jul 01Dividend increased to NT$2.20Dividend of NT$2.20 is 4.8% higher than last year. Ex-date: 16th July 2026 Payment date: 14th August 2026 Dividend yield will be 4.0%, which is higher than the industry average of 1.2%. Sustainability & Growth Dividend is covered by both earnings (88% earnings payout ratio) and cash flows (77% cash payout ratio). The dividend has increased by an average of 6.2% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. The company's earnings per share (EPS) would need to decline by 1.8% to shift the payout ratio to a potentially unsustainable range, which is similar to the EPS decline seen over the last 5 years.Reported Earnings • May 09First quarter 2026 earnings released: EPS: NT$0.66 (vs NT$0.53 in 1Q 2025)First quarter 2026 results: EPS: NT$0.66 (up from NT$0.53 in 1Q 2025). Revenue: NT$5.40b (down 6.8% from 1Q 2025). Net income: NT$202.7m (up 24% from 1Q 2025). Profit margin: 3.8% (up from 2.8% in 1Q 2025). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has fallen by 1% per year.New Risk • Mar 27New minor risk - Dividend sustainabilityThe dividend is not well covered by earnings. Payout ratio: 93% Dividend yield: 3.9% This is considered a minor risk. Companies that pay out too much of their earnings are at risk of having to reduce or cut their dividend in future. If earnings growth slows or earnings fall, then there may not be enough earnings 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. However, this risk is mitigated by the fact the dividend is covered by cash flows. 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 2.5% per year over the past 5 years. Minor Risk Dividend is not well covered by earnings (93% payout ratio).Reported Earnings • Mar 13Full year 2025 earnings released: EPS: NT$2.36 (vs NT$2.39 in FY 2024)Full year 2025 results: EPS: NT$2.36 (down from NT$2.39 in FY 2024). Revenue: NT$22.5b (down 6.2% from FY 2024). Net income: NT$730.0m (down 1.1% from FY 2024). Profit margin: 3.2% (up from 3.1% in FY 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has fallen by 4% per year.공고 • Mar 12National Petroleum Co., Ltd., Annual General Meeting, Jun 23, 2026National Petroleum Co., Ltd., Annual General Meeting, Jun 23, 2026. Location: 2 floor no,223, sec.3 pei hsin rd., sindian district, new taipei city Taiwan공고 • Dec 19National Petroleum Co., Ltd. Announces Board Changes, Effective December 18, 2025National Petroleum Co., Ltd. announced a by-election for one director and one independent director at the 2025 1st Special Meeting of Shareholders. The previous director was Lai, Cheng-Shu (Representative of De-Hong Enterprise Co., Ltd.), who was also the Chairman of National Petroleum Co., Ltd. The previous independent director was Chang, Chia-chen, who was the Public Relations Manager of SKM Department Store Co., Ltd. The new director is Chung, Yu-Lin (Representative of MiaoLi Transportation Co., Ltd.), who is also the Chairman of MiaoLi Transportation Co., Ltd. The new independent director is Chang, Shuenn-Ren, who is the Vice President of Cheng Shiu University. The change was due to a new appointment and the reason for the change was a by-election. The original term was from July 1, 2024 to June 30, 2027. The effective date of the new appointments was December 18, 2025.Reported Earnings • Nov 11Third quarter 2025 earnings released: EPS: NT$0.66 (vs NT$0.62 in 3Q 2024)Third quarter 2025 results: EPS: NT$0.66 (up from NT$0.62 in 3Q 2024). Revenue: NT$5.61b (down 9.3% from 3Q 2024). Net income: NT$203.6m (up 5.8% from 3Q 2024). Profit margin: 3.6% (up from 3.1% in 3Q 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has increased by 4% per year.Reported Earnings • Aug 08Second quarter 2025 earnings released: EPS: NT$0.56 (vs NT$0.56 in 2Q 2024)Second quarter 2025 results: EPS: NT$0.56. Revenue: NT$5.59b (down 7.3% from 2Q 2024). Net income: NT$172.5m (flat on 2Q 2024). Profit margin: 3.1% (up from 2.9% in 2Q 2024). The increase in margin was driven by lower expenses.Declared Dividend • Jul 11Dividend of NT$2.10 announcedDividend of NT$2.10 is the same as last year. Ex-date: 25th July 2025 Payment date: 21st August 2025 Dividend yield will be 3.2%, which is higher than the industry average of 1.2%. Sustainability & Growth Dividend is covered by both earnings (89.7% earnings payout ratio) and cash flows (22% cash payout ratio). The dividend has increased by an average of 5.8% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 1.3% over the last 5 years, which if continued should maintain adequate earnings cover for the dividend.공고 • Jun 20National Petroleum Co., Ltd. Approves Cash Dividend for 2024National Petroleum Co., Ltd. at its Annual General Shareholders' Meeting held on 19 June 2025 approved cash dividend of TWD 2.1 per share for 2024.Reported Earnings • May 09First quarter 2025 earnings released: EPS: NT$0.53 (vs NT$0.57 in 1Q 2024)First quarter 2025 results: EPS: NT$0.53 (down from NT$0.57 in 1Q 2024). Revenue: NT$5.80b (down 1.2% from 1Q 2024). Net income: NT$163.2m (down 8.1% from 1Q 2024). Profit margin: 2.8% (down from 3.0% in 1Q 2024). Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 9% per year, which means it is well ahead of earnings.공고 • Apr 30National Petroleum Co., Ltd. to Report Q1, 2025 Results on May 07, 2025National Petroleum Co., Ltd. announced that they will report Q1, 2025 results on May 07, 2025Reported Earnings • Mar 19Full year 2024 earnings released: EPS: NT$2.39 (vs NT$2.53 in FY 2023)Full year 2024 results: EPS: NT$2.39 (down from NT$2.53 in FY 2023). Revenue: NT$24.0b (down 2.0% from FY 2023). Net income: NT$738.1m (down 5.7% from FY 2023). Profit margin: 3.1% (down from 3.2% in FY 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 8% per year, which means it is well ahead of earnings.공고 • Mar 13National Petroleum Co., Ltd., Annual General Meeting, Jun 19, 2025National Petroleum Co., Ltd., Annual General Meeting, Jun 19, 2025. Location: 2 floor no,223, sec.3 pei hsin rd., sindian district, new taipei city Taiwan공고 • Mar 05National Petroleum Co., Ltd. to Report Fiscal Year 2024 Results on Mar 12, 2025National Petroleum Co., Ltd. announced that they will report fiscal year 2024 results on Mar 12, 2025Reported Earnings • Nov 17Third quarter 2024 earnings released: EPS: NT$0.62 (vs NT$0.76 in 3Q 2023)Third quarter 2024 results: EPS: NT$0.62 (down from NT$0.76 in 3Q 2023). Revenue: NT$6.19b (down 4.3% from 3Q 2023). Net income: NT$192.4m (down 18% from 3Q 2023). Profit margin: 3.1% (down from 3.6% in 3Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings.공고 • Nov 06National Petroleum Co., Ltd. to Report Q3, 2023 Results on Nov 13, 2024National Petroleum Co., Ltd. announced that they will report Q3, 2023 results on Nov 13, 2024공고 • Sep 14National Petroleum Co., Ltd. Announces Board ChangesNational Petroleum Co., Ltd. announced the resignation of Hsu, Te-Hsiung as representative juristic-person director. Resume of the previous position holder: Executive Vice President of Formosa Petrochemical Corp. The company announced the appointment of Chen, Chia-Yi as representative juristic-person director, effective September 13, 2024. Resume of the new position holder: Senior Vice President of Formosa Petrochemical Corp.Reported Earnings • Aug 15Second quarter 2024 earnings released: EPS: NT$0.56 (vs NT$0.56 in 2Q 2023)Second quarter 2024 results: EPS: NT$0.56 (down from NT$0.56 in 2Q 2023). Revenue: NT$6.03b (flat on 2Q 2023). Net income: NT$172.7m (down 1.1% from 2Q 2023). Profit margin: 2.9% (in line with 2Q 2023). Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings.공고 • Aug 09National Petroleum Co., Ltd. Announces the Appointment of Wang, Chun Jie as Chief Internal AuditorNational Petroleum Co., Ltd. announced the appointment of Wang, Chun Jie as Chief Internal Auditor. Resume of the new position holder: Wang, Chun Jie/the Company's section manager of Audit Department. Effective date: August 8, 2024. The Company released Material Information in MOPS to announce the change of Chief Internal Auditor on July 26, 2024.공고 • Aug 01National Petroleum Co., Ltd. to Report Q2, 2024 Results on Aug 08, 2024National Petroleum Co., Ltd. announced that they will report Q2, 2024 results on Aug 08, 2024Upcoming Dividend • Jul 19Upcoming dividend of NT$2.10 per shareEligible shareholders must have bought the stock before 25 July 2024. Payment date: 16 August 2024. Payout ratio is on the higher end at 82% but the company is not cash flow positive. Trailing yield: 3.2%. Lower than top quartile of Taiwanese dividend payers (4.2%). In line with average of industry peers (3.3%).분석 기사 • Jul 18National Petroleum (TWSE:9937) Has Announced A Dividend Of NT$2.10National Petroleum Co., Ltd. ( TWSE:9937 ) has announced that it will pay a dividend of NT$2.10 per share on the 16th...Declared Dividend • Jul 05Dividend of NT$2.10 announcedDividend of NT$2.10 is the same as last year. Ex-date: 25th July 2024 Payment date: 16th August 2024 Dividend yield will be 3.1%, which is higher than the industry average of 1.2%. Sustainability & Growth Dividend is covered by earnings (82% 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 4.9% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has remained steady over the last 5 years. Unless this trend deteriorates, it should provide adequate earnings cover for the dividend.분석 기사 • Jul 04National Petroleum (TWSE:9937) Is Due To Pay A Dividend Of NT$2.10National Petroleum Co., Ltd. ( TWSE:9937 ) will pay a dividend of NT$2.10 on the 16th of August. This means the annual...공고 • Jul 04National Petroleum Co., Ltd. Announces the Change of Remuneration Committee MembersNational Petroleum Co., Ltd. announced the change of remuneration committee members. Name of the previous position holder: Liu, Hui-Chi and Emme Wu. Resume of the previous position holder: Liu, Hui-Chi: Independent director of the Company/President of Formosa Biomedical Technology Corp. Emme Wu: Independent director of the Company/Lawyer of C. Chuang Attorneys At Law. Name of the new position holder: Li, Tsung-His and Lu, Hsueh-Hsiu. Name of the new position holder: Lu, Hsueh-Hsiu/Independent Director of the Company/Acting Vice President of Formosa Plastics Marine Corp. Li, Tsung-His/Independent Director of the Company/President of Kaofu Chemical Corp.분석 기사 • May 21National Petroleum's (TWSE:9937) Solid Profits Have Weak FundamentalsNational Petroleum Co., Ltd. ( TWSE:9937 ) announced strong profits, but the stock was stagnant. Our analysis suggests...Reported Earnings • May 12First quarter 2024 earnings released: EPS: NT$0.57 (vs NT$0.55 in 1Q 2023)First quarter 2024 results: EPS: NT$0.57 (up from NT$0.55 in 1Q 2023). Revenue: NT$5.87b (flat on 1Q 2023). Net income: NT$177.5m (up 4.3% from 1Q 2023). Profit margin: 3.0% (in line with 1Q 2023). 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 13% per year, which means it is well ahead of earnings.New Risk • May 12New major risk - Earnings qualityThe company has a high level of non-cash earnings. Accrual ratio: 39% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (39% accrual ratio). Minor Risk Paying a dividend despite having no free cash flows.공고 • May 02National Petroleum Co., Ltd. to Report Q1, 2024 Results on May 09, 2024National Petroleum Co., Ltd. announced that they will report Q1, 2024 results on May 09, 2024Reported Earnings • Mar 15Full year 2023 earnings released: EPS: NT$2.53 (vs NT$2.35 in FY 2022)Full year 2023 results: EPS: NT$2.53 (up from NT$2.35 in FY 2022). Revenue: NT$24.5b (up 1.5% from FY 2022). Net income: NT$783.0m (up 8.0% from FY 2022). Profit margin: 3.2% (up from 3.0% in FY 2022). 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 11% per year, which means it is well ahead of earnings.공고 • Mar 14National Petroleum Co., Ltd., Annual General Meeting, Jun 21, 2024National Petroleum Co., Ltd., Annual General Meeting, Jun 21, 2024. Location: (Taipei Innovation City Convention Center 2B Conference Hall, 2F., No. 223, Sec. 3, Beixin Rd., Xindian Dist New Taipei City Taiwan Agenda: To consider the Company's 2023 Business Report; to consider the Audit Committee's review of the 2023 annual final accounting books and statements; to consider the report on 2023 compensation for directors and employees; to consider the report on 2023 remuneration for directors; to consider the proposal for the 2023 Business Report and Financial Statements; to consider the Proposal for the distribution of 2023 Profits; to consider the re-election of directors upon expiration of the directors's terms of office; and to consider to release the new board of directors and representatives from the non-competition restrictions.Reported Earnings • Aug 15Second quarter 2023 earnings released: EPS: NT$0.57 (vs NT$0.46 in 2Q 2022)Second quarter 2023 results: EPS: NT$0.57 (up from NT$0.46 in 2Q 2022). Revenue: NT$6.01b (up 4.3% from 2Q 2022). Net income: NT$174.7m (up 22% from 2Q 2022). Profit margin: 2.9% (up from 2.5% in 2Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings.Upcoming Dividend • Jul 19Upcoming dividend of NT$2.10 per share at 3.1% yieldEligible shareholders must have bought the stock before 26 July 2023. Payment date: 18 August 2023. Payout ratio is on the higher end at 92%, however this is supported by cash flows. Trailing yield: 3.1%. Lower than top quartile of Taiwanese dividend payers (5.4%). Higher than average of industry peers (1.0%).Valuation Update With 7 Day Price Move • Jul 10Investor sentiment deteriorates as stock falls 19%After last week's 19% share price decline to NT$65.20, the stock trades at a trailing P/E ratio of 28.6x. Average trailing P/E is 20x in the Specialty Retail industry in Taiwan. Total returns to shareholders of 59% over the past three years.공고 • Jul 06National Petroleum Co., Ltd. Announces Cash Dividend, Payable on August 18, 2023National Petroleum Co., Ltd. announced Cash dividend TWD 2.1 per share. Date of shareholder meeting: July 5, 2023. Ex-rights (ex-dividend) record date: August 1, 2023. Payment date of cash dividend distribution: August 18, 2023.공고 • Jun 22National Petroleum Co., Ltd. Approves the Proposal for the Distribution of 2022 ProfitsNational Petroleum Co., Ltd. at 2023 Annual General Shareholders' Meeting on June 21, 2023 the company approved the Proposal for the distribution of 2022 Profits is approved. Cash dividend TWD 2.1 per share.Reported Earnings • Mar 14Full year 2022 earnings released: EPS: NT$2.35 (vs NT$2.62 in FY 2021)Full year 2022 results: EPS: NT$2.35 (down from NT$2.62 in FY 2021). Revenue: NT$24.2b (up 14% from FY 2021). Net income: NT$724.8m (down 11% from FY 2021). Profit margin: 3.0% (down from 3.8% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 19% per year, which means it is tracking significantly ahead of earnings growth.Reported Earnings • Nov 16Third quarter 2022 earnings released: EPS: NT$0.67 (vs NT$0.72 in 3Q 2021)Third quarter 2022 results: EPS: NT$0.67 (down from NT$0.72 in 3Q 2021). Revenue: NT$6.31b (up 18% from 3Q 2021). Net income: NT$206.0m (down 7.8% from 3Q 2021). Profit margin: 3.3% (down from 4.2% in 3Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has increased by 5% per year.Board Change • Nov 16Less than half of directors are independentFollowing the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 6 non-independent directors. Independent Director Hui-Chi Liu was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.Reported Earnings • Nov 13Third quarter 2022 earnings released: EPS: NT$0.67 (vs NT$0.72 in 3Q 2021)Third quarter 2022 results: EPS: NT$0.67 (down from NT$0.72 in 3Q 2021). Revenue: NT$6.31b (up 18% from 3Q 2021). Net income: NT$206.0m (down 7.8% from 3Q 2021). Profit margin: 3.3% (down from 4.2% in 3Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has increased by 6% per year.Reported Earnings • Aug 14Second quarter 2022 earnings released: EPS: NT$0.46 (vs NT$0.48 in 2Q 2021)Second quarter 2022 results: EPS: NT$0.46 (down from NT$0.48 in 2Q 2021). Revenue: NT$5.76b (up 22% from 2Q 2021). Net income: NT$143.5m (down 3.7% from 2Q 2021). Profit margin: 2.5% (down from 3.1% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has increased by 7% per year.Upcoming Dividend • Jul 19Upcoming dividend of NT$2.10 per shareEligible shareholders must have bought the stock before 26 July 2022. Payment date: 19 August 2022. Payout ratio is on the higher end at 85%, however this is supported by cash flows. Trailing yield: 4.2%. Lower than top quartile of Taiwanese dividend payers (6.8%). Higher than average of industry peers (3.8%).Reported Earnings • May 11First quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behindFirst quarter 2022 results: EPS: NT$0.62 (down from NT$0.77 in 1Q 2021). Revenue: NT$5.98b (up 19% from 1Q 2021). Net income: NT$191.0m (down 20% from 1Q 2021). Profit margin: 3.2% (down from 4.7% in 1Q 2021). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 3.7%. Earnings per share (EPS) exceeded analyst estimates by 25%. 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 5% per year.Board Change • Apr 27Less than half of directors are independentFollowing the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Hui-Chi Liu was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.Reported Earnings • Mar 30Full year 2021 earnings: EPS exceeds analyst expectations while revenues lag behindFull year 2021 results: EPS: NT$2.62 (up from NT$2.57 in FY 2020). Revenue: NT$21.2b (up 16% from FY 2020). Net income: NT$810.7m (up 2.2% from FY 2020). Profit margin: 3.8% (down from 4.3% in FY 2020). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 3.7%. Earnings per share (EPS) exceeded analyst estimates by 25%. Over the last 3 years on average, earnings per share has increased by 5% per year and the company’s share price has also increased by 5% per year.Reported Earnings • Nov 15Third quarter 2021 earnings released: EPS NT$0.72 (vs NT$0.80 in 3Q 2020)The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: NT$5.33b (up 10.0% from 3Q 2020). Net income: NT$223.5m (down 9.8% from 3Q 2020). Profit margin: 4.2% (down from 5.1% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has increased by 6% per year.Upcoming Dividend • Aug 20Upcoming dividend of NT$2.30 per shareEligible shareholders must have bought the stock before 27 August 2021. Payment date: 17 September 2021. Trailing yield: 4.7%. Lower than top quartile of Taiwanese dividend payers (5.3%). Higher than average of industry peers (3.5%).Reported Earnings • Aug 15Second quarter 2021 earnings released: EPS NT$0.48 (vs NT$0.62 in 2Q 2020)The company reported a soft second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2021 results: Revenue: NT$4.74b (up 25% from 2Q 2020). Net income: NT$149.0m (down 22% from 2Q 2020). Profit margin: 3.1% (down from 5.0% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has increased by 8% per year.Executive Departure • Aug 06Independent Director Te-Chang Chen has left the companyOn the 3rd of August, Te-Chang Chen's tenure as Independent Director ended after 3.1 years in the role. We don't have any record of a personal shareholding under Te-Chang's name. Te-Chang is the only executive to leave the company over the last 12 months.Reported Earnings • May 15First quarter 2021 earnings released: EPS NT$0.77 (vs NT$0.48 in 1Q 2020)The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$5.04b (up 1.1% from 1Q 2020). Net income: NT$238.4m (up 62% from 1Q 2020). Profit margin: 4.7% (up from 3.0% in 1Q 2020). Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has increased by 5% per year.Reported Earnings • Mar 31Full year 2020 earnings released: EPS NT$2.57 (vs NT$2.39 in FY 2019)The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: NT$18.4b (down 20% from FY 2019). Net income: NT$793.1m (up 7.5% from FY 2019). Profit margin: 4.3% (up from 3.2% in FY 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 7% per year, which means it is well ahead of earnings.Is New 90 Day High Low • Jan 22New 90-day high: NT$52.20The company is up 12% from its price of NT$46.75 on 23 October 2020. The Taiwanese market is up 23% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Specialty Retail industry, which is down 2.0% over the same period.분석 기사 • Dec 18Shareholders Of National Petroleum (TPE:9937) Must Be Happy With Their 81% ReturnIf you buy and hold a stock for many years, you'd hope to be making a profit. But more than that, you probably want to...Is New 90 Day High Low • Dec 16New 90-day high: NT$50.30The company is up 8.0% from its price of NT$46.40 on 17 September 2020. The Taiwanese market is also up 8.0% over the last 90 days, indicating the company’s price trend is similar to the market over that time. However, it outperformed the Specialty Retail industry, which is down 4.0% over the same period.분석 기사 • Nov 26Does National Petroleum (TPE:9937) Have A Healthy Balance Sheet?Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...Reported Earnings • Nov 14Third quarter 2020 earnings released: EPS NT$0.80The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2020 results: Revenue: NT$4.84b (down 17% from 3Q 2019). Net income: NT$247.8m (up 26% from 3Q 2019). Profit margin: 5.1% (up from 3.4% in 3Q 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 7% per year, which means it is well ahead of earnings.Is New 90 Day High Low • Nov 09New 90-day high: NT$47.50The company is up 5.0% from its price of NT$45.25 on 11 August 2020. The Taiwanese market is up 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Specialty Retail industry, which is down 4.0% over the same period.공고 • Jul 07Formosa Petrochemical Corporation (TSEC:6505) acquired additional 12.97% stake in National Petroleum Co., Ltd. (TSEC:9937) for TWD 1.7 billion.Formosa Petrochemical Corporation (TSEC:6505) acquired additional 12.97% stake in National Petroleum Co., Ltd. (TSEC:9937) for TWD 1.7 billion on July 6, 2020. Under the terms, Formosa will acquire 40.08 million shares at a price of TWD 43.5 per share. Formosa owns 60.08 million shares of National Petroleum representing 19.44 million shares. Formosa Petrochemical Corporation (TSEC:6505) completed the acquisition of additional 12.97% stake in National Petroleum Co., Ltd. (TSEC:9937) on July 6, 2020.주주 수익률9937TW Specialty RetailTW 시장7D-0.2%-2.2%-2.5%1Y-10.9%-13.6%85.0%전체 주주 수익률 보기수익률 대 산업: 9937은 지난 1년 동안 -13.6%의 수익을 기록한 TW Specialty Retail 산업보다 더 좋은 성과를 냈습니다.수익률 대 시장: 9937은 지난 1년 동안 85%를 기록한 TW 시장보다 저조한 성과를 냈습니다.주가 변동성Is 9937's price volatile compared to industry and market?9937 volatility9937 Average Weekly Movement1.7%Specialty Retail Industry Average Movement3.6%Market Average Movement6.4%10% most volatile stocks in TW Market11.9%10% least volatile stocks in TW Market2.7%안정적인 주가: 9937는 지난 3개월 동안 TW 시장에 비해 주가 변동성이 크지 않았습니다.시간에 따른 변동성: 9937의 주간 변동성(2%)은 지난 1년 동안 안정적이었습니다.회사 소개설립직원 수CEO웹사이트1977n/aChia-Chang Tsaiwww.npcgas.com.tw내셔널 페트롤리엄은 대만에서 주유소 사업을 하고 있습니다. 이 회사는 휘발유, 윤활유 및 디젤 연료를 판매합니다. 세차 서비스도 제공합니다.더 보기National Petroleum Co., Ltd. 기초 지표 요약National Petroleum의 순이익과 매출은 시가총액과 어떻게 비교됩니까?9937 기초 통계시가총액NT$17.06b순이익 (TTM)NT$795.48m매출 (TTM)NT$22.89b21.4x주가수익비율(P/E)0.7x주가매출비율(P/S)9937는 고평가되어 있습니까?공정 가치 및 평가 분석 보기순이익 및 매출최근 실적 보고서(TTM)의 주요 수익성 지표9937 손익계산서 (TTM)매출NT$22.89b매출원가NT$20.08b총이익NT$2.81b기타 비용NT$2.02b순이익NT$795.48m최근 보고된 실적Jun 30, 2026다음 실적 발표일해당 없음주당순이익(EPS)2.57총이익률12.28%순이익률3.47%부채/자본 비율0.03%9937의 장기 실적은 어땠습니까?과거 실적 및 비교 보기배당4.0%현재 배당 수익률85%배당 성향View Valuation기업 분석 및 재무 데이터 상태데이터최종 업데이트 (UTC 시간)기업 분석2026/08/21 16:21종가2026/08/21 00:00수익2026/06/30연간 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 소스National Petroleum Co., Ltd.는 0명의 분석가가 다루고 있습니다. 이 중 0명의 분석가가 우리 보고서에 입력 데이터로 사용되는 매출 또는 수익 추정치를 제출했습니다. 분석가의 제출 자료는 하루 종일 업데이트됩니다.
Reported Earnings • Aug 08Second quarter 2026 earnings released: EPS: NT$0.64 (vs NT$0.56 in 2Q 2025)Second quarter 2026 results: EPS: NT$0.64 (up from NT$0.56 in 2Q 2025). Revenue: NT$6.34b (up 13% from 2Q 2025). Net income: NT$198.5m (up 15% from 2Q 2025). Profit margin: 3.1% (in line with 2Q 2025). Over the last 3 years on average, earnings per share has remained flat but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings.
Declared Dividend • Jul 01Dividend increased to NT$2.20Dividend of NT$2.20 is 4.8% higher than last year. Ex-date: 16th July 2026 Payment date: 14th August 2026 Dividend yield will be 4.0%, which is higher than the industry average of 1.2%. Sustainability & Growth Dividend is covered by both earnings (88% earnings payout ratio) and cash flows (77% cash payout ratio). The dividend has increased by an average of 6.2% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. The company's earnings per share (EPS) would need to decline by 1.8% to shift the payout ratio to a potentially unsustainable range, which is similar to the EPS decline seen over the last 5 years.
Reported Earnings • May 09First quarter 2026 earnings released: EPS: NT$0.66 (vs NT$0.53 in 1Q 2025)First quarter 2026 results: EPS: NT$0.66 (up from NT$0.53 in 1Q 2025). Revenue: NT$5.40b (down 6.8% from 1Q 2025). Net income: NT$202.7m (up 24% from 1Q 2025). Profit margin: 3.8% (up from 2.8% in 1Q 2025). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has fallen by 1% per year.
New Risk • Mar 27New minor risk - Dividend sustainabilityThe dividend is not well covered by earnings. Payout ratio: 93% Dividend yield: 3.9% This is considered a minor risk. Companies that pay out too much of their earnings are at risk of having to reduce or cut their dividend in future. If earnings growth slows or earnings fall, then there may not be enough earnings 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. However, this risk is mitigated by the fact the dividend is covered by cash flows. 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 2.5% per year over the past 5 years. Minor Risk Dividend is not well covered by earnings (93% payout ratio).
Reported Earnings • Mar 13Full year 2025 earnings released: EPS: NT$2.36 (vs NT$2.39 in FY 2024)Full year 2025 results: EPS: NT$2.36 (down from NT$2.39 in FY 2024). Revenue: NT$22.5b (down 6.2% from FY 2024). Net income: NT$730.0m (down 1.1% from FY 2024). Profit margin: 3.2% (up from 3.1% in FY 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has fallen by 4% per year.
공고 • Mar 12National Petroleum Co., Ltd., Annual General Meeting, Jun 23, 2026National Petroleum Co., Ltd., Annual General Meeting, Jun 23, 2026. Location: 2 floor no,223, sec.3 pei hsin rd., sindian district, new taipei city Taiwan
Reported Earnings • Aug 08Second quarter 2026 earnings released: EPS: NT$0.64 (vs NT$0.56 in 2Q 2025)Second quarter 2026 results: EPS: NT$0.64 (up from NT$0.56 in 2Q 2025). Revenue: NT$6.34b (up 13% from 2Q 2025). Net income: NT$198.5m (up 15% from 2Q 2025). Profit margin: 3.1% (in line with 2Q 2025). Over the last 3 years on average, earnings per share has remained flat but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings.
Declared Dividend • Jul 01Dividend increased to NT$2.20Dividend of NT$2.20 is 4.8% higher than last year. Ex-date: 16th July 2026 Payment date: 14th August 2026 Dividend yield will be 4.0%, which is higher than the industry average of 1.2%. Sustainability & Growth Dividend is covered by both earnings (88% earnings payout ratio) and cash flows (77% cash payout ratio). The dividend has increased by an average of 6.2% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. The company's earnings per share (EPS) would need to decline by 1.8% to shift the payout ratio to a potentially unsustainable range, which is similar to the EPS decline seen over the last 5 years.
Reported Earnings • May 09First quarter 2026 earnings released: EPS: NT$0.66 (vs NT$0.53 in 1Q 2025)First quarter 2026 results: EPS: NT$0.66 (up from NT$0.53 in 1Q 2025). Revenue: NT$5.40b (down 6.8% from 1Q 2025). Net income: NT$202.7m (up 24% from 1Q 2025). Profit margin: 3.8% (up from 2.8% in 1Q 2025). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has fallen by 1% per year.
New Risk • Mar 27New minor risk - Dividend sustainabilityThe dividend is not well covered by earnings. Payout ratio: 93% Dividend yield: 3.9% This is considered a minor risk. Companies that pay out too much of their earnings are at risk of having to reduce or cut their dividend in future. If earnings growth slows or earnings fall, then there may not be enough earnings 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. However, this risk is mitigated by the fact the dividend is covered by cash flows. 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 2.5% per year over the past 5 years. Minor Risk Dividend is not well covered by earnings (93% payout ratio).
Reported Earnings • Mar 13Full year 2025 earnings released: EPS: NT$2.36 (vs NT$2.39 in FY 2024)Full year 2025 results: EPS: NT$2.36 (down from NT$2.39 in FY 2024). Revenue: NT$22.5b (down 6.2% from FY 2024). Net income: NT$730.0m (down 1.1% from FY 2024). Profit margin: 3.2% (up from 3.1% in FY 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has fallen by 4% per year.
공고 • Mar 12National Petroleum Co., Ltd., Annual General Meeting, Jun 23, 2026National Petroleum Co., Ltd., Annual General Meeting, Jun 23, 2026. Location: 2 floor no,223, sec.3 pei hsin rd., sindian district, new taipei city Taiwan
공고 • Dec 19National Petroleum Co., Ltd. Announces Board Changes, Effective December 18, 2025National Petroleum Co., Ltd. announced a by-election for one director and one independent director at the 2025 1st Special Meeting of Shareholders. The previous director was Lai, Cheng-Shu (Representative of De-Hong Enterprise Co., Ltd.), who was also the Chairman of National Petroleum Co., Ltd. The previous independent director was Chang, Chia-chen, who was the Public Relations Manager of SKM Department Store Co., Ltd. The new director is Chung, Yu-Lin (Representative of MiaoLi Transportation Co., Ltd.), who is also the Chairman of MiaoLi Transportation Co., Ltd. The new independent director is Chang, Shuenn-Ren, who is the Vice President of Cheng Shiu University. The change was due to a new appointment and the reason for the change was a by-election. The original term was from July 1, 2024 to June 30, 2027. The effective date of the new appointments was December 18, 2025.
Reported Earnings • Nov 11Third quarter 2025 earnings released: EPS: NT$0.66 (vs NT$0.62 in 3Q 2024)Third quarter 2025 results: EPS: NT$0.66 (up from NT$0.62 in 3Q 2024). Revenue: NT$5.61b (down 9.3% from 3Q 2024). Net income: NT$203.6m (up 5.8% from 3Q 2024). Profit margin: 3.6% (up from 3.1% in 3Q 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has increased by 4% per year.
Reported Earnings • Aug 08Second quarter 2025 earnings released: EPS: NT$0.56 (vs NT$0.56 in 2Q 2024)Second quarter 2025 results: EPS: NT$0.56. Revenue: NT$5.59b (down 7.3% from 2Q 2024). Net income: NT$172.5m (flat on 2Q 2024). Profit margin: 3.1% (up from 2.9% in 2Q 2024). The increase in margin was driven by lower expenses.
Declared Dividend • Jul 11Dividend of NT$2.10 announcedDividend of NT$2.10 is the same as last year. Ex-date: 25th July 2025 Payment date: 21st August 2025 Dividend yield will be 3.2%, which is higher than the industry average of 1.2%. Sustainability & Growth Dividend is covered by both earnings (89.7% earnings payout ratio) and cash flows (22% cash payout ratio). The dividend has increased by an average of 5.8% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 1.3% over the last 5 years, which if continued should maintain adequate earnings cover for the dividend.
공고 • Jun 20National Petroleum Co., Ltd. Approves Cash Dividend for 2024National Petroleum Co., Ltd. at its Annual General Shareholders' Meeting held on 19 June 2025 approved cash dividend of TWD 2.1 per share for 2024.
Reported Earnings • May 09First quarter 2025 earnings released: EPS: NT$0.53 (vs NT$0.57 in 1Q 2024)First quarter 2025 results: EPS: NT$0.53 (down from NT$0.57 in 1Q 2024). Revenue: NT$5.80b (down 1.2% from 1Q 2024). Net income: NT$163.2m (down 8.1% from 1Q 2024). Profit margin: 2.8% (down from 3.0% in 1Q 2024). Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 9% per year, which means it is well ahead of earnings.
공고 • Apr 30National Petroleum Co., Ltd. to Report Q1, 2025 Results on May 07, 2025National Petroleum Co., Ltd. announced that they will report Q1, 2025 results on May 07, 2025
Reported Earnings • Mar 19Full year 2024 earnings released: EPS: NT$2.39 (vs NT$2.53 in FY 2023)Full year 2024 results: EPS: NT$2.39 (down from NT$2.53 in FY 2023). Revenue: NT$24.0b (down 2.0% from FY 2023). Net income: NT$738.1m (down 5.7% from FY 2023). Profit margin: 3.1% (down from 3.2% in FY 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 8% per year, which means it is well ahead of earnings.
공고 • Mar 13National Petroleum Co., Ltd., Annual General Meeting, Jun 19, 2025National Petroleum Co., Ltd., Annual General Meeting, Jun 19, 2025. Location: 2 floor no,223, sec.3 pei hsin rd., sindian district, new taipei city Taiwan
공고 • Mar 05National Petroleum Co., Ltd. to Report Fiscal Year 2024 Results on Mar 12, 2025National Petroleum Co., Ltd. announced that they will report fiscal year 2024 results on Mar 12, 2025
Reported Earnings • Nov 17Third quarter 2024 earnings released: EPS: NT$0.62 (vs NT$0.76 in 3Q 2023)Third quarter 2024 results: EPS: NT$0.62 (down from NT$0.76 in 3Q 2023). Revenue: NT$6.19b (down 4.3% from 3Q 2023). Net income: NT$192.4m (down 18% from 3Q 2023). Profit margin: 3.1% (down from 3.6% in 3Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings.
공고 • Nov 06National Petroleum Co., Ltd. to Report Q3, 2023 Results on Nov 13, 2024National Petroleum Co., Ltd. announced that they will report Q3, 2023 results on Nov 13, 2024
공고 • Sep 14National Petroleum Co., Ltd. Announces Board ChangesNational Petroleum Co., Ltd. announced the resignation of Hsu, Te-Hsiung as representative juristic-person director. Resume of the previous position holder: Executive Vice President of Formosa Petrochemical Corp. The company announced the appointment of Chen, Chia-Yi as representative juristic-person director, effective September 13, 2024. Resume of the new position holder: Senior Vice President of Formosa Petrochemical Corp.
Reported Earnings • Aug 15Second quarter 2024 earnings released: EPS: NT$0.56 (vs NT$0.56 in 2Q 2023)Second quarter 2024 results: EPS: NT$0.56 (down from NT$0.56 in 2Q 2023). Revenue: NT$6.03b (flat on 2Q 2023). Net income: NT$172.7m (down 1.1% from 2Q 2023). Profit margin: 2.9% (in line with 2Q 2023). Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings.
공고 • Aug 09National Petroleum Co., Ltd. Announces the Appointment of Wang, Chun Jie as Chief Internal AuditorNational Petroleum Co., Ltd. announced the appointment of Wang, Chun Jie as Chief Internal Auditor. Resume of the new position holder: Wang, Chun Jie/the Company's section manager of Audit Department. Effective date: August 8, 2024. The Company released Material Information in MOPS to announce the change of Chief Internal Auditor on July 26, 2024.
공고 • Aug 01National Petroleum Co., Ltd. to Report Q2, 2024 Results on Aug 08, 2024National Petroleum Co., Ltd. announced that they will report Q2, 2024 results on Aug 08, 2024
Upcoming Dividend • Jul 19Upcoming dividend of NT$2.10 per shareEligible shareholders must have bought the stock before 25 July 2024. Payment date: 16 August 2024. Payout ratio is on the higher end at 82% but the company is not cash flow positive. Trailing yield: 3.2%. Lower than top quartile of Taiwanese dividend payers (4.2%). In line with average of industry peers (3.3%).
분석 기사 • Jul 18National Petroleum (TWSE:9937) Has Announced A Dividend Of NT$2.10National Petroleum Co., Ltd. ( TWSE:9937 ) has announced that it will pay a dividend of NT$2.10 per share on the 16th...
Declared Dividend • Jul 05Dividend of NT$2.10 announcedDividend of NT$2.10 is the same as last year. Ex-date: 25th July 2024 Payment date: 16th August 2024 Dividend yield will be 3.1%, which is higher than the industry average of 1.2%. Sustainability & Growth Dividend is covered by earnings (82% 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 4.9% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has remained steady over the last 5 years. Unless this trend deteriorates, it should provide adequate earnings cover for the dividend.
분석 기사 • Jul 04National Petroleum (TWSE:9937) Is Due To Pay A Dividend Of NT$2.10National Petroleum Co., Ltd. ( TWSE:9937 ) will pay a dividend of NT$2.10 on the 16th of August. This means the annual...
공고 • Jul 04National Petroleum Co., Ltd. Announces the Change of Remuneration Committee MembersNational Petroleum Co., Ltd. announced the change of remuneration committee members. Name of the previous position holder: Liu, Hui-Chi and Emme Wu. Resume of the previous position holder: Liu, Hui-Chi: Independent director of the Company/President of Formosa Biomedical Technology Corp. Emme Wu: Independent director of the Company/Lawyer of C. Chuang Attorneys At Law. Name of the new position holder: Li, Tsung-His and Lu, Hsueh-Hsiu. Name of the new position holder: Lu, Hsueh-Hsiu/Independent Director of the Company/Acting Vice President of Formosa Plastics Marine Corp. Li, Tsung-His/Independent Director of the Company/President of Kaofu Chemical Corp.
분석 기사 • May 21National Petroleum's (TWSE:9937) Solid Profits Have Weak FundamentalsNational Petroleum Co., Ltd. ( TWSE:9937 ) announced strong profits, but the stock was stagnant. Our analysis suggests...
Reported Earnings • May 12First quarter 2024 earnings released: EPS: NT$0.57 (vs NT$0.55 in 1Q 2023)First quarter 2024 results: EPS: NT$0.57 (up from NT$0.55 in 1Q 2023). Revenue: NT$5.87b (flat on 1Q 2023). Net income: NT$177.5m (up 4.3% from 1Q 2023). Profit margin: 3.0% (in line with 1Q 2023). 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 13% per year, which means it is well ahead of earnings.
New Risk • May 12New major risk - Earnings qualityThe company has a high level of non-cash earnings. Accrual ratio: 39% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (39% accrual ratio). Minor Risk Paying a dividend despite having no free cash flows.
공고 • May 02National Petroleum Co., Ltd. to Report Q1, 2024 Results on May 09, 2024National Petroleum Co., Ltd. announced that they will report Q1, 2024 results on May 09, 2024
Reported Earnings • Mar 15Full year 2023 earnings released: EPS: NT$2.53 (vs NT$2.35 in FY 2022)Full year 2023 results: EPS: NT$2.53 (up from NT$2.35 in FY 2022). Revenue: NT$24.5b (up 1.5% from FY 2022). Net income: NT$783.0m (up 8.0% from FY 2022). Profit margin: 3.2% (up from 3.0% in FY 2022). 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 11% per year, which means it is well ahead of earnings.
공고 • Mar 14National Petroleum Co., Ltd., Annual General Meeting, Jun 21, 2024National Petroleum Co., Ltd., Annual General Meeting, Jun 21, 2024. Location: (Taipei Innovation City Convention Center 2B Conference Hall, 2F., No. 223, Sec. 3, Beixin Rd., Xindian Dist New Taipei City Taiwan Agenda: To consider the Company's 2023 Business Report; to consider the Audit Committee's review of the 2023 annual final accounting books and statements; to consider the report on 2023 compensation for directors and employees; to consider the report on 2023 remuneration for directors; to consider the proposal for the 2023 Business Report and Financial Statements; to consider the Proposal for the distribution of 2023 Profits; to consider the re-election of directors upon expiration of the directors's terms of office; and to consider to release the new board of directors and representatives from the non-competition restrictions.
Reported Earnings • Aug 15Second quarter 2023 earnings released: EPS: NT$0.57 (vs NT$0.46 in 2Q 2022)Second quarter 2023 results: EPS: NT$0.57 (up from NT$0.46 in 2Q 2022). Revenue: NT$6.01b (up 4.3% from 2Q 2022). Net income: NT$174.7m (up 22% from 2Q 2022). Profit margin: 2.9% (up from 2.5% in 2Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings.
Upcoming Dividend • Jul 19Upcoming dividend of NT$2.10 per share at 3.1% yieldEligible shareholders must have bought the stock before 26 July 2023. Payment date: 18 August 2023. Payout ratio is on the higher end at 92%, however this is supported by cash flows. Trailing yield: 3.1%. Lower than top quartile of Taiwanese dividend payers (5.4%). Higher than average of industry peers (1.0%).
Valuation Update With 7 Day Price Move • Jul 10Investor sentiment deteriorates as stock falls 19%After last week's 19% share price decline to NT$65.20, the stock trades at a trailing P/E ratio of 28.6x. Average trailing P/E is 20x in the Specialty Retail industry in Taiwan. Total returns to shareholders of 59% over the past three years.
공고 • Jul 06National Petroleum Co., Ltd. Announces Cash Dividend, Payable on August 18, 2023National Petroleum Co., Ltd. announced Cash dividend TWD 2.1 per share. Date of shareholder meeting: July 5, 2023. Ex-rights (ex-dividend) record date: August 1, 2023. Payment date of cash dividend distribution: August 18, 2023.
공고 • Jun 22National Petroleum Co., Ltd. Approves the Proposal for the Distribution of 2022 ProfitsNational Petroleum Co., Ltd. at 2023 Annual General Shareholders' Meeting on June 21, 2023 the company approved the Proposal for the distribution of 2022 Profits is approved. Cash dividend TWD 2.1 per share.
Reported Earnings • Mar 14Full year 2022 earnings released: EPS: NT$2.35 (vs NT$2.62 in FY 2021)Full year 2022 results: EPS: NT$2.35 (down from NT$2.62 in FY 2021). Revenue: NT$24.2b (up 14% from FY 2021). Net income: NT$724.8m (down 11% from FY 2021). Profit margin: 3.0% (down from 3.8% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 19% per year, which means it is tracking significantly ahead of earnings growth.
Reported Earnings • Nov 16Third quarter 2022 earnings released: EPS: NT$0.67 (vs NT$0.72 in 3Q 2021)Third quarter 2022 results: EPS: NT$0.67 (down from NT$0.72 in 3Q 2021). Revenue: NT$6.31b (up 18% from 3Q 2021). Net income: NT$206.0m (down 7.8% from 3Q 2021). Profit margin: 3.3% (down from 4.2% in 3Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has increased by 5% per year.
Board Change • Nov 16Less than half of directors are independentFollowing the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 6 non-independent directors. Independent Director Hui-Chi Liu was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
Reported Earnings • Nov 13Third quarter 2022 earnings released: EPS: NT$0.67 (vs NT$0.72 in 3Q 2021)Third quarter 2022 results: EPS: NT$0.67 (down from NT$0.72 in 3Q 2021). Revenue: NT$6.31b (up 18% from 3Q 2021). Net income: NT$206.0m (down 7.8% from 3Q 2021). Profit margin: 3.3% (down from 4.2% in 3Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has increased by 6% per year.
Reported Earnings • Aug 14Second quarter 2022 earnings released: EPS: NT$0.46 (vs NT$0.48 in 2Q 2021)Second quarter 2022 results: EPS: NT$0.46 (down from NT$0.48 in 2Q 2021). Revenue: NT$5.76b (up 22% from 2Q 2021). Net income: NT$143.5m (down 3.7% from 2Q 2021). Profit margin: 2.5% (down from 3.1% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has increased by 7% per year.
Upcoming Dividend • Jul 19Upcoming dividend of NT$2.10 per shareEligible shareholders must have bought the stock before 26 July 2022. Payment date: 19 August 2022. Payout ratio is on the higher end at 85%, however this is supported by cash flows. Trailing yield: 4.2%. Lower than top quartile of Taiwanese dividend payers (6.8%). Higher than average of industry peers (3.8%).
Reported Earnings • May 11First quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behindFirst quarter 2022 results: EPS: NT$0.62 (down from NT$0.77 in 1Q 2021). Revenue: NT$5.98b (up 19% from 1Q 2021). Net income: NT$191.0m (down 20% from 1Q 2021). Profit margin: 3.2% (down from 4.7% in 1Q 2021). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 3.7%. Earnings per share (EPS) exceeded analyst estimates by 25%. 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 5% per year.
Board Change • Apr 27Less than half of directors are independentFollowing the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Hui-Chi Liu was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
Reported Earnings • Mar 30Full year 2021 earnings: EPS exceeds analyst expectations while revenues lag behindFull year 2021 results: EPS: NT$2.62 (up from NT$2.57 in FY 2020). Revenue: NT$21.2b (up 16% from FY 2020). Net income: NT$810.7m (up 2.2% from FY 2020). Profit margin: 3.8% (down from 4.3% in FY 2020). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 3.7%. Earnings per share (EPS) exceeded analyst estimates by 25%. Over the last 3 years on average, earnings per share has increased by 5% per year and the company’s share price has also increased by 5% per year.
Reported Earnings • Nov 15Third quarter 2021 earnings released: EPS NT$0.72 (vs NT$0.80 in 3Q 2020)The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: NT$5.33b (up 10.0% from 3Q 2020). Net income: NT$223.5m (down 9.8% from 3Q 2020). Profit margin: 4.2% (down from 5.1% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has increased by 6% per year.
Upcoming Dividend • Aug 20Upcoming dividend of NT$2.30 per shareEligible shareholders must have bought the stock before 27 August 2021. Payment date: 17 September 2021. Trailing yield: 4.7%. Lower than top quartile of Taiwanese dividend payers (5.3%). Higher than average of industry peers (3.5%).
Reported Earnings • Aug 15Second quarter 2021 earnings released: EPS NT$0.48 (vs NT$0.62 in 2Q 2020)The company reported a soft second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2021 results: Revenue: NT$4.74b (up 25% from 2Q 2020). Net income: NT$149.0m (down 22% from 2Q 2020). Profit margin: 3.1% (down from 5.0% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has increased by 8% per year.
Executive Departure • Aug 06Independent Director Te-Chang Chen has left the companyOn the 3rd of August, Te-Chang Chen's tenure as Independent Director ended after 3.1 years in the role. We don't have any record of a personal shareholding under Te-Chang's name. Te-Chang is the only executive to leave the company over the last 12 months.
Reported Earnings • May 15First quarter 2021 earnings released: EPS NT$0.77 (vs NT$0.48 in 1Q 2020)The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$5.04b (up 1.1% from 1Q 2020). Net income: NT$238.4m (up 62% from 1Q 2020). Profit margin: 4.7% (up from 3.0% in 1Q 2020). Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has increased by 5% per year.
Reported Earnings • Mar 31Full year 2020 earnings released: EPS NT$2.57 (vs NT$2.39 in FY 2019)The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: NT$18.4b (down 20% from FY 2019). Net income: NT$793.1m (up 7.5% from FY 2019). Profit margin: 4.3% (up from 3.2% in FY 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 7% per year, which means it is well ahead of earnings.
Is New 90 Day High Low • Jan 22New 90-day high: NT$52.20The company is up 12% from its price of NT$46.75 on 23 October 2020. The Taiwanese market is up 23% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Specialty Retail industry, which is down 2.0% over the same period.
분석 기사 • Dec 18Shareholders Of National Petroleum (TPE:9937) Must Be Happy With Their 81% ReturnIf you buy and hold a stock for many years, you'd hope to be making a profit. But more than that, you probably want to...
Is New 90 Day High Low • Dec 16New 90-day high: NT$50.30The company is up 8.0% from its price of NT$46.40 on 17 September 2020. The Taiwanese market is also up 8.0% over the last 90 days, indicating the company’s price trend is similar to the market over that time. However, it outperformed the Specialty Retail industry, which is down 4.0% over the same period.
분석 기사 • Nov 26Does National Petroleum (TPE:9937) Have A Healthy Balance Sheet?Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...
Reported Earnings • Nov 14Third quarter 2020 earnings released: EPS NT$0.80The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2020 results: Revenue: NT$4.84b (down 17% from 3Q 2019). Net income: NT$247.8m (up 26% from 3Q 2019). Profit margin: 5.1% (up from 3.4% in 3Q 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 7% per year, which means it is well ahead of earnings.
Is New 90 Day High Low • Nov 09New 90-day high: NT$47.50The company is up 5.0% from its price of NT$45.25 on 11 August 2020. The Taiwanese market is up 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Specialty Retail industry, which is down 4.0% over the same period.
공고 • Jul 07Formosa Petrochemical Corporation (TSEC:6505) acquired additional 12.97% stake in National Petroleum Co., Ltd. (TSEC:9937) for TWD 1.7 billion.Formosa Petrochemical Corporation (TSEC:6505) acquired additional 12.97% stake in National Petroleum Co., Ltd. (TSEC:9937) for TWD 1.7 billion on July 6, 2020. Under the terms, Formosa will acquire 40.08 million shares at a price of TWD 43.5 per share. Formosa owns 60.08 million shares of National Petroleum representing 19.44 million shares. Formosa Petrochemical Corporation (TSEC:6505) completed the acquisition of additional 12.97% stake in National Petroleum Co., Ltd. (TSEC:9937) on July 6, 2020.
