Valuation Update With 7 Day Price Move • Jul 29
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to NT$160, the stock trades at a trailing P/E ratio of 19.3x. Average trailing P/E is 39x in the Semiconductor industry in Taiwan. Total returns to shareholders of 145% over the past three years. Upcoming Dividend • Jul 09
Upcoming dividend of NT$4.80 per share Eligible shareholders must have bought the stock before 16 July 2026. Payment date: 14 August 2026. Payout ratio is a comfortable 55% but the company is not cash flow positive. Trailing yield: 2.4%. Lower than top quartile of Taiwanese dividend payers (4.9%). Higher than average of industry peers (1.0%). Declared Dividend • Jun 13
Dividend of NT$4.80 announced Shareholders will receive a dividend of NT$4.80. Ex-date: 16th July 2026 Payment date: 14th August 2026 Dividend yield will be 2.5%, which is lower than the industry average of 3.0%. Sustainability & Growth The dividend has increased by an average of 3.4% per year over the past 10 years. However, payments have been volatile during that time. Reported Earnings • May 12
First quarter 2026 earnings released: EPS: NT$2.00 (vs NT$2.13 in 1Q 2025) First quarter 2026 results: EPS: NT$2.00. Revenue: NT$810.9m (up 19% from 1Q 2025). Net income: NT$151.6m (up 27% from 1Q 2025). Profit margin: 19% (up from 18% in 1Q 2025). The increase in margin was driven by higher revenue. Valuation Update With 7 Day Price Move • Apr 20
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to NT$210, the stock trades at a trailing P/E ratio of 27x. Average trailing P/E is 42x in the Semiconductor industry in Taiwan. Total returns to shareholders of 295% over the past three years. New Risk • Mar 31
New minor risk - Dividend sustainability The company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 1.7% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining 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 Risk High level of non-cash earnings (32% accrual ratio). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Reported Earnings • Mar 12
Full year 2025 earnings released: EPS: NT$8.36 (vs NT$6.64 in FY 2024) Full year 2025 results: EPS: NT$8.36 (up from NT$6.64 in FY 2024). Revenue: NT$2.99b (up 16% from FY 2024). Net income: NT$479.3m (up 28% from FY 2024). Profit margin: 16% (up from 14% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 44% per year, which means it is tracking significantly ahead of earnings growth. 공고 • Mar 06
Shih Her Technologies Inc., Annual General Meeting, Jun 11, 2026 Shih Her Technologies Inc., Annual General Meeting, Jun 11, 2026. Location: 5 floor no,18, jen cheng rd., hukou township, hsinchu county Taiwan New Risk • Dec 18
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 6.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Dec 08
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to NT$184, the stock trades at a trailing P/E ratio of 23.5x. Average trailing P/E is 30x in the Semiconductor industry in Taiwan. Total returns to shareholders of 248% over the past three years. Reported Earnings • Nov 11
Third quarter 2025 earnings released: EPS: NT$2.07 (vs NT$1.71 in 3Q 2024) Third quarter 2025 results: EPS: NT$2.07 (up from NT$1.71 in 3Q 2024). Revenue: NT$745.5m (up 15% from 3Q 2024). Net income: NT$116.6m (up 21% from 3Q 2024). Profit margin: 16% (in line with 3Q 2024). Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 42% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Sep 26
New minor risk - Dividend sustainability The company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 1.8% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. This is currently the only risk that has been identified for the company. Reported Earnings • Aug 09
Second quarter 2025 earnings released: EPS: NT$1.92 (vs NT$1.77 in 2Q 2024) Second quarter 2025 results: EPS: NT$1.92 (up from NT$1.77 in 2Q 2024). Revenue: NT$719.4m (up 11% from 2Q 2024). Net income: NT$108.1m (up 8.5% from 2Q 2024). Profit margin: 15% (in line with 2Q 2024). Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 43% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Jul 11
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 6.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Upcoming Dividend • Jun 30
Upcoming dividend of NT$3.40 per share Eligible shareholders must have bought the stock before 07 July 2025. Payment date: 01 August 2025. Payout ratio is a comfortable 45% and this is well supported by cash flows. Trailing yield: 1.7%. Lower than top quartile of Taiwanese dividend payers (5.2%). Lower than average of industry peers (2.2%). Valuation Update With 7 Day Price Move • Jun 18
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$146, the stock trades at a trailing P/E ratio of 20x. Average trailing P/E is 25x in the Semiconductor industry in Taiwan. Total returns to shareholders of 163% over the past three years. Reported Earnings • May 14
First quarter 2025 earnings released: EPS: NT$2.13 (vs NT$1.47 in 1Q 2024) First quarter 2025 results: EPS: NT$2.13 (up from NT$1.47 in 1Q 2024). Revenue: NT$680.8m (up 12% from 1Q 2024). Net income: NT$119.5m (up 45% from 1Q 2024). Profit margin: 18% (up from 14% in 1Q 2024). 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 27% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • May 12
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$119, the stock trades at a trailing P/E ratio of 17.9x. Average trailing P/E is 24x in the Semiconductor industry in Taiwan. Total returns to shareholders of 114% over the past three years. Valuation Update With 7 Day Price Move • Apr 09
Investor sentiment deteriorates as stock falls 22% After last week's 22% share price decline to NT$83.00, the stock trades at a trailing P/E ratio of 12.5x. Average trailing P/E is 21x in the Semiconductor industry in Taiwan. Total returns to shareholders of 42% over the past three years. Reported Earnings • Mar 19
Full year 2024 earnings released: EPS: NT$6.63 (vs NT$5.58 in FY 2023) Full year 2024 results: EPS: NT$6.63 (up from NT$5.58 in FY 2023). Revenue: NT$2.58b (up 13% from FY 2023). Net income: NT$373.1m (up 19% from FY 2023). Profit margin: 14% (in line with FY 2023). Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 16% per year, which means it is well ahead of earnings. 공고 • Mar 14
Shih Her Technologies Inc., Annual General Meeting, Jun 11, 2025 Shih Her Technologies Inc., Annual General Meeting, Jun 11, 2025, at 09:00 Taipei Standard Time. Location: 5 floor no,18, jen cheng rd., hukou township, hsinchu county Taiwan New Risk • Nov 29
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Taiwanese stocks, typically moving 8.0% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (8.0% average weekly change). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Reported Earnings • Nov 17
Third quarter 2024 earnings released: EPS: NT$1.71 (vs NT$1.18 in 3Q 2023) Third quarter 2024 results: EPS: NT$1.71 (up from NT$1.18 in 3Q 2023). Revenue: NT$645.8m (up 17% from 3Q 2023). Net income: NT$96.3m (up 45% from 3Q 2023). Profit margin: 15% (up from 12% in 3Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has increased by 27% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Oct 17
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$119, the stock trades at a trailing P/E ratio of 20.7x. Average trailing P/E is 31x in the Semiconductor industry in Taiwan. Total returns to shareholders of 98% over the past three years. Reported Earnings • Aug 17
Second quarter 2024 earnings released: EPS: NT$1.77 (vs NT$1.65 in 2Q 2023) Second quarter 2024 results: EPS: NT$1.77 (up from NT$1.65 in 2Q 2023). Revenue: NT$645.8m (up 11% from 2Q 2023). Net income: NT$99.6m (up 7.1% from 2Q 2023). Profit margin: 15% (in line with 2Q 2023). Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 16% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Aug 15
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to NT$109, the stock trades at a trailing P/E ratio of 19.4x. Average trailing P/E is 28x in the Semiconductor industry in Taiwan. Total returns to shareholders of 110% over the past three years. Upcoming Dividend • Jul 15
Upcoming dividend of NT$2.80 per share Eligible shareholders must have bought the stock before 22 July 2024. Payment date: 16 August 2024. Payout ratio is a comfortable 57% but the company is paying out more than the cash it is generating. Trailing yield: 3.0%. Lower than top quartile of Taiwanese dividend payers (4.2%). Higher than average of industry peers (1.9%). Reported Earnings • May 12
First quarter 2024 earnings released: EPS: NT$1.47 (vs NT$1.44 in 1Q 2023) First quarter 2024 results: EPS: NT$1.47 (up from NT$1.44 in 1Q 2023). Revenue: NT$609.5m (up 6.1% from 1Q 2023). Net income: NT$82.5m (up 2.1% from 1Q 2023). Profit margin: 14% (in line with 1Q 2023). Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 29% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Mar 29
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to NT$129, the stock trades at a trailing P/E ratio of 23.1x. Average trailing P/E is 30x in the Semiconductor industry in Taiwan. Total returns to shareholders of 173% over the past three years. Reported Earnings • Mar 19
Full year 2023 earnings released: EPS: NT$5.58 (vs NT$6.40 in FY 2022) Full year 2023 results: EPS: NT$5.58 (down from NT$6.40 in FY 2022). Revenue: NT$2.29b (down 4.4% from FY 2022). Net income: NT$314.0m (down 14% from FY 2022). Profit margin: 14% (down from 15% in FY 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 28% per year, which means it is tracking significantly ahead of earnings growth. 공고 • Mar 14
Shih Her Technologies Inc., Annual General Meeting, Jun 27, 2024 Shih Her Technologies Inc., Annual General Meeting, Jun 27, 2024. Valuation Update With 7 Day Price Move • Feb 21
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to NT$117, the stock trades at a trailing P/E ratio of 20.6x. Average trailing P/E is 29x in the Semiconductor industry in Taiwan. Total returns to shareholders of 163% over the past three years. Reported Earnings • Aug 13
Second quarter 2023 earnings released: EPS: NT$1.65 (vs NT$1.75 in 2Q 2022) Second quarter 2023 results: EPS: NT$1.65 (down from NT$1.75 in 2Q 2022). Revenue: NT$579.6m (down 2.9% from 2Q 2022). Net income: NT$93.0m (down 6.5% from 2Q 2022). Profit margin: 16% (in line with 2Q 2022). Over the last 3 years on average, earnings per share has increased by 13% per year whereas the company’s share price has increased by 11% per year. Upcoming Dividend • Jul 17
Upcoming dividend of NT$3.20 per share at 4.5% yield Eligible shareholders must have bought the stock before 24 July 2023. Payment date: 18 August 2023. Payout ratio is a comfortable 51% but the company is paying out more than the cash it is generating. Trailing yield: 4.5%. Lower than top quartile of Taiwanese dividend payers (5.5%). Higher than average of industry peers (3.1%). Reported Earnings • Mar 17
Full year 2022 earnings released: EPS: NT$6.40 (vs NT$7.16 in FY 2021) Full year 2022 results: EPS: NT$6.40 (down from NT$7.16 in FY 2021). Revenue: NT$2.39b (up 12% from FY 2021). Net income: NT$363.2m (down 11% from FY 2021). Profit margin: 15% (down from 19% 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 21% per year whereas the company’s share price has increased by 25% per year. Board Change • Nov 16
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. 1 highly experienced director. 2 independent directors (5 non-independent directors). Chairman & Marketing Vice President of China Project Hsueh-Sheng Chen was the last director to join the board, commencing their role in 2004. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Nov 13
Third quarter 2022 earnings released: EPS: NT$1.66 (vs NT$2.44 in 3Q 2021) Third quarter 2022 results: EPS: NT$1.66 (down from NT$2.44 in 3Q 2021). Revenue: NT$611.7m (up 15% from 3Q 2021). Net income: NT$94.2m (down 32% from 3Q 2021). Profit margin: 15% (down from 26% 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 26% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jul 18
Upcoming dividend of NT$3.50 per share Eligible shareholders must have bought the stock before 25 July 2022. Payment date: 19 August 2022. Payout ratio is a comfortable 48% and this is well supported by cash flows. Trailing yield: 6.2%. Lower than top quartile of Taiwanese dividend payers (6.8%). Higher than average of industry peers (3.7%). Reported Earnings • May 11
First quarter 2022 earnings released: EPS: NT$1.62 (vs NT$1.44 in 1Q 2021) First quarter 2022 results: EPS: NT$1.62 (up from NT$1.44 in 1Q 2021). Revenue: NT$575.7m (up 8.4% from 1Q 2021). Net income: NT$92.0m (up 13% from 1Q 2021). Profit margin: 16% (in line with 1Q 2021). Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. 1 highly experienced director. 2 independent directors (5 non-independent directors). Chairman & Marketing Vice President of China Project Hsueh-Sheng Chen was the last director to join the board, commencing their role in 2004. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. 공고 • Mar 31
Shih Her Technologies Inc., Annual General Meeting, Jun 22, 2022 Shih Her Technologies Inc., Annual General Meeting, Jun 22, 2022. Reported Earnings • Mar 28
Full year 2021 earnings released: EPS: NT$7.16 (vs NT$4.44 in FY 2020) Full year 2021 results: EPS: NT$7.16 (up from NT$4.44 in FY 2020). Revenue: NT$2.14b (up 3.5% from FY 2020). Net income: NT$406.6m (up 62% from FY 2020). Profit margin: 19% (up from 12% in FY 2020). The increase in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 07
Third quarter 2021 earnings released: EPS NT$2.44 (vs NT$0.94 in 3Q 2020) The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2021 results: Revenue: NT$532.9m (down 4.5% from 3Q 2020). Net income: NT$138.8m (up 160% from 3Q 2020). Profit margin: 26% (up from 9.6% in 3Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 28% per year whereas the company’s share price has increased by 32% per year. Upcoming Dividend • Aug 23
Upcoming dividend of NT$2.20 per share Eligible shareholders must have bought the stock before 30 August 2021. Payment date: 24 September 2021. Trailing yield: 3.3%. Lower than top quartile of Taiwanese dividend payers (5.3%). Higher than average of industry peers (2.3%). Reported Earnings • Aug 15
Second quarter 2021 earnings released: EPS NT$2.03 (vs NT$1.05 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: NT$519.3m (up 8.3% from 2Q 2020). Net income: NT$115.1m (up 93% from 2Q 2020). Profit margin: 22% (up from 12% in 2Q 2020). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 24% per year whereas the company’s share price has increased by 23% per year. Reported Earnings • May 08
First quarter 2021 earnings released: EPS NT$1.44 (vs NT$1.07 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$531.0m (up 13% from 1Q 2020). Net income: NT$81.7m (up 34% from 1Q 2020). Profit margin: 15% (up from 13% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 22% per year whereas the company’s share price has increased by 18% per year. Reported Earnings • Mar 27
Full year 2020 earnings released: EPS NT$4.44 (vs NT$3.74 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$2.06b (down 4.1% from FY 2019). Net income: NT$251.9m (up 19% from FY 2019). Profit margin: 12% (up from 9.9% in FY 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Is New 90 Day High Low • Jan 29
New 90-day low: NT$49.20 The company is down 2.0% from its price of NT$50.20 on 30 October 2020. The Taiwanese market is up 22% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Semiconductor industry, which is up 38% over the same period. Is New 90 Day High Low • Dec 03
New 90-day high: NT$54.30 The company is up 5.0% from its price of NT$51.60 on 04 September 2020. The Taiwanese market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Semiconductor industry, which is up 16% over the same period. Analyst Estimate Surprise Post Earnings • Nov 12
Revenue beats expectations Revenue exceeded analyst estimates by 1.4%. Reported Earnings • Nov 12
Third quarter 2020 earnings released: EPS NT$0.94 The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2020 results: Revenue: NT$557.8m (down 3.9% from 3Q 2019). Net income: NT$53.3m (down 21% from 3Q 2019). Profit margin: 9.6% (down from 12% in 3Q 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Is New 90 Day High Low • Oct 26
New 90-day high: NT$53.40 The company is up 6.0% from its price of NT$50.30 on 28 July 2020. The Taiwanese market is up 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Semiconductor industry, which is up 5.0% over the same period.