View Financial HealthTSEC 배당 및 자사주 매입배당 기준 점검 0/6TSEC 현재 배당금을 지급하지 않습니다.핵심 정보0%배당 수익률0%자사주 매입 수익률총 주주 수익률0%미래 배당 수익률n/a배당 성장률n/a다음 배당 지급일n/a배당락일n/a주당 배당금n/a배당 성향0%최근 배당 및 자사주 매입 업데이트Upcoming Dividend • Aug 12Upcoming dividend of NT$0.40 per shareEligible shareholders must have bought the stock before 19 August 2024. Payment date: 10 September 2024. Payout ratio is a comfortable 54% but the company is not cash flow positive. Trailing yield: 1.6%. Lower than top quartile of Taiwanese dividend payers (4.5%). Lower than average of industry peers (2.2%).공시 • Jun 13TSEC Corporation Announces Cash Dividend, Payable on July 18, 2023TSEC Corporation announced cash dividend of TWD 0.1 (Earnings TWD 0.075; Capital surplus TWD 0.025) per share. Ex-rights (ex-dividend) trading date: June 29, 2023. Ex-rights (ex-dividend) record date: July 7, 2023. Payment date of cash dividend distribution: July 18, 2023.모든 업데이트 보기Recent updatesReported Earnings • May 15First quarter 2026 earnings released: NT$0.20 loss per share (vs NT$0.23 loss in 1Q 2025)First quarter 2026 results: NT$0.20 loss per share (improved from NT$0.23 loss in 1Q 2025). Revenue: NT$406.1m (down 45% from 1Q 2025). Net loss: NT$100.6m (loss narrowed 15% from 1Q 2025). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 125 percentage points per year, which is a significant difference in performance.Reported Earnings • Mar 13Full year 2025 earnings released: NT$6.24 loss per share (vs NT$1.17 loss in FY 2024)Full year 2025 results: NT$6.24 loss per share (further deteriorated from NT$1.17 loss in FY 2024). Revenue: NT$1.83b (down 60% from FY 2024). Net loss: NT$3.20b (loss widened 433% from FY 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 129 percentage points per year, which is a significant difference in performance.공시 • Mar 05TSEC Corporation, Annual General Meeting, May 22, 2026TSEC Corporation, Annual General Meeting, May 22, 2026. Location: no,335-12, ta hsi rd., pingtung city, pingtung county TaiwanNew Risk • Dec 12New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 6.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 31% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (6.8% average weekly change).Reported Earnings • Nov 12Third quarter 2025 earnings released: NT$1.21 loss per share (vs NT$0.036 profit in 3Q 2024)Third quarter 2025 results: NT$1.21 loss per share (down from NT$0.036 profit in 3Q 2024). Revenue: NT$341.3m (down 72% from 3Q 2024). Net loss: NT$620.2m (down NT$638.6m from profit in 3Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 78 percentage points per year, which is a significant difference in performance.New Risk • Aug 14New major risk - Revenue and earnings growthEarnings have declined by 2.1% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 124% Cash payout ratio: 92% Earnings have declined by 2.1% per year over the past 5 years.Reported Earnings • Aug 14Second quarter 2025 earnings released: NT$0.46 loss per share (vs NT$0.059 profit in 2Q 2024)Second quarter 2025 results: NT$0.46 loss per share (down from NT$0.059 profit in 2Q 2024). Revenue: NT$369.5m (down 73% from 2Q 2024). Net loss: NT$237.7m (down NT$268.0m from profit in 2Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 59 percentage points per year, which is a significant difference in performance.New Risk • May 24New major risk - Share price stabilityThe company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Taiwanese stocks, typically moving 10% 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 (10% average weekly change). Minor Risk Dividend is not well covered by earnings (124% payout ratio).Reported Earnings • May 13First quarter 2025 earnings released: NT$0.23 loss per share (vs NT$0.043 profit in 1Q 2024)First quarter 2025 results: NT$0.23 loss per share (down from NT$0.043 profit in 1Q 2024). Revenue: NT$741.6m (down 37% from 1Q 2024). Net loss: NT$118.2m (down NT$140.1m from profit in 1Q 2024). Over the last 3 years on average, earnings per share has fallen by 54% per year but the company’s share price has only fallen by 25% per year, which means it has not declined as severely as earnings.공시 • May 01TSEC Corporation to Report Q1, 2025 Results on May 08, 2025TSEC Corporation announced that they will report Q1, 2025 results on May 08, 2025Reported Earnings • Mar 20Full year 2024 earnings released: NT$1.17 loss per share (vs NT$1.07 profit in FY 2023)Full year 2024 results: NT$1.17 loss per share (down from NT$1.07 profit in FY 2023). Revenue: NT$4.51b (down 45% from FY 2023). Net loss: NT$600.3m (down 214% from profit in FY 2023). Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has fallen by 21% per year, which means it is performing significantly worse than earnings.공시 • Mar 06TSEC Corporation, Annual General Meeting, May 23, 2025TSEC Corporation, Annual General Meeting, May 23, 2025. Location: no,335-12, ta hsi rd., pingtung city, pingtung county TaiwanNew Risk • Mar 02New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 6.0% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 124% Paying a dividend despite having no free cash flows. Minor Risks Share price has been volatile over the past 3 months (6.0% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (3.0% net profit margin).분석 기사 • Jan 13Returns Are Gaining Momentum At TSEC (TWSE:6443)If you're looking for a multi-bagger, there's a few things to keep an eye out for. Ideally, a business will show two...분석 기사 • Nov 19We Think You Can Look Beyond TSEC's (TWSE:6443) Lackluster EarningsThe most recent earnings report from TSEC Corporation ( TWSE:6443 ) was disappointing for shareholders. Despite the...Reported Earnings • Nov 15Third quarter 2024 earnings released: EPS: NT$0.04 (vs NT$0.23 in 3Q 2023)Third quarter 2024 results: EPS: NT$0.04 (down from NT$0.23 in 3Q 2023). Revenue: NT$1.21b (down 35% from 3Q 2023). Net income: NT$18.3m (down 84% from 3Q 2023). Profit margin: 1.5% (down from 6.1% in 3Q 2023). Over the last 3 years on average, earnings per share has increased by 47% per year but the company’s share price has fallen by 19% per year, which means it is significantly lagging earnings.분석 기사 • Nov 13We Think TSEC (TWSE:6443) Can Stay On Top Of Its DebtHoward Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...공시 • Oct 26TSEC Corporation to Report Q3, 2024 Results on Nov 06, 2024TSEC Corporation announced that they will report Q3, 2024 results on Nov 06, 2024New Risk • Sep 04New 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: 1.8% 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: Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Shareholders have been diluted in the past year (7.7% increase in shares outstanding).Reported Earnings • Aug 14Second quarter 2024 earnings released: EPS: NT$0.06 (vs NT$0.30 in 2Q 2023)Second quarter 2024 results: EPS: NT$0.06 (down from NT$0.30 in 2Q 2023). Revenue: NT$1.39b (down 41% from 2Q 2023). Net income: NT$30.2m (down 79% from 2Q 2023). Profit margin: 2.2% (down from 6.0% in 2Q 2023). Over the last 3 years on average, earnings per share has increased by 64% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings.Upcoming Dividend • Aug 12Upcoming dividend of NT$0.40 per shareEligible shareholders must have bought the stock before 19 August 2024. Payment date: 10 September 2024. Payout ratio is a comfortable 54% but the company is not cash flow positive. Trailing yield: 1.6%. Lower than top quartile of Taiwanese dividend payers (4.5%). Lower than average of industry peers (2.2%).Valuation Update With 7 Day Price Move • Aug 06Investor sentiment deteriorates as stock falls 17%After last week's 17% share price decline to NT$22.95, the stock trades at a trailing P/E ratio of 31.5x. Average trailing P/E is 26x in the Semiconductor industry in Taiwan. Total loss to shareholders of 24% over the past three years.분석 기사 • Aug 06TSEC Corporation's (TWSE:6443) 25% Share Price Plunge Could Signal Some RiskTSEC Corporation ( TWSE:6443 ) shares have had a horrible month, losing 25% after a relatively good period beforehand...공시 • Jul 30TSEC Corporation to Report Q2, 2024 Results on Aug 07, 2024TSEC Corporation announced that they will report Q2, 2024 results on Aug 07, 2024Valuation Update With 7 Day Price Move • Jul 02Investor sentiment improves as stock rises 15%After last week's 15% share price gain to NT$31.35, the stock trades at a trailing P/E ratio of 43.1x. Average trailing P/E is 32x in the Semiconductor industry in Taiwan. Total loss to shareholders of 4.1% over the past three years.분석 기사 • Jun 27TSEC (TWSE:6443) Seems To Use Debt Quite SensiblyHoward Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...Reported Earnings • May 18First quarter 2024 earnings released: EPS: NT$0.04 (vs NT$0.37 in 1Q 2023)First quarter 2024 results: EPS: NT$0.04 (down from NT$0.37 in 1Q 2023). Revenue: NT$1.17b (down 46% from 1Q 2023). Net income: NT$22.0m (down 88% from 1Q 2023). Profit margin: 1.9% (down from 8.1% in 1Q 2023). Over the last 3 years on average, earnings per share has increased by 66% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings.공시 • Apr 28TSEC Corporation to Report Q1, 2024 Results on May 06, 2024TSEC Corporation announced that they will report Q1, 2024 results on May 06, 2024분석 기사 • Mar 20TSEC's (TWSE:6443) Solid Earnings Have Been Accounted For ConservativelyThe market seemed underwhelmed by last week's earnings announcement from TSEC Corporation ( TWSE:6443 ) despite the...New Risk • Mar 16New minor risk - Earnings qualityThe company has large one-off items impacting its financial results. One-off items were 38% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Large one-off items impacting financial results. Shareholders have been diluted in the past year (2.1% increase in shares outstanding).Reported Earnings • Mar 13Full year 2023 earnings released: EPS: NT$1.07 (vs NT$0.41 in FY 2022)Full year 2023 results: EPS: NT$1.07 (up from NT$0.41 in FY 2022). Revenue: NT$8.26b (down 8.3% from FY 2022). Net income: NT$527.3m (up 178% from FY 2022). Profit margin: 6.4% (up from 2.1% 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 88% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings.공시 • Mar 07TSEC Corporation, Annual General Meeting, May 24, 2024TSEC Corporation, Annual General Meeting, May 24, 2024. Location: No. 335-12, Daxi Road, Pingtung City, Pingtung Pingtung City Taiwan Agenda: To consider 2023 annual business report; to The Audit Committee reviewed the 2023 final accounts report; to Report on the distribution of remuneration to employees and directors in 2023; to Directors' Remuneration Policy Report; to Revised report on the rules of procedure of the board of directors; to The company's 2023 annual business report and various financial statements are recognized; to The company’s 2023 earnings distribution recognition case; and to consider other matters if any.공시 • Dec 29TSEC Corporation Announces Resignation of Yang, Shu-Ling as Legal Person Director RepresentativeTSEC Corporation announced the resignation of the company's legal person director representative. Name of legal person: Executive Yuan National Development Fund Management Council. Name of the previous position holder: Yang,Shu-Ling. Reason for the change: resign.New Risk • Sep 24New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 7.3% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. This is currently the only risk that has been identified for the company.Reported Earnings • Aug 13Second quarter 2023 earnings released: EPS: NT$0.30 (vs NT$0.032 in 2Q 2022)Second quarter 2023 results: EPS: NT$0.30 (up from NT$0.032 in 2Q 2022). Revenue: NT$2.37b (up 25% from 2Q 2022). Net income: NT$143.1m (up NT$128.7m from 2Q 2022). Profit margin: 6.0% (up from 0.8% in 2Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 113% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth.Buying Opportunity • Jun 27Now 20% undervalued after recent price dropOver the last 90 days, the stock is down 10%. The fair value is estimated to be NT$43.74, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 30% over the last 3 years. Meanwhile, the company has become profitable.공시 • Jun 13TSEC Corporation Announces Cash Dividend, Payable on July 18, 2023TSEC Corporation announced cash dividend of TWD 0.1 (Earnings TWD 0.075; Capital surplus TWD 0.025) per share. Ex-rights (ex-dividend) trading date: June 29, 2023. Ex-rights (ex-dividend) record date: July 7, 2023. Payment date of cash dividend distribution: July 18, 2023.Reported Earnings • Mar 15Full year 2022 earnings: EPS and revenues exceed analyst expectationsFull year 2022 results: EPS: NT$0.41 (up from NT$0.10 in FY 2021). Revenue: NT$9.01b (up 46% from FY 2021). Net income: NT$189.7m (up 310% from FY 2021). Profit margin: 2.1% (up from 0.8% in FY 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.4%. Earnings per share (EPS) also surpassed analyst estimates by 32%. Revenue is forecast to grow 21% p.a. on average during the next 2 years, compared to a 8.3% growth forecast for the Semiconductor industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 104% per year whereas the company’s share price has increased by 101% per year.Major Estimate Revision • Dec 31Consensus EPS estimates increase by 22%The consensus outlook for earnings per share (EPS) in 2022 has improved. 2022 revenue forecast increased from NT$8.62b to NT$8.88b. EPS estimate increased from NT$0.26 to NT$0.31 per share. Net income forecast to grow 132% next year vs 15% decline forecast for Semiconductor industry in Taiwan. Consensus price target down from NT$40.50 to NT$35.50. Share price was steady at NT$34.55 over the past week.Reported Earnings • Nov 16Third quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behindThird quarter 2022 results: EPS: NT$0.05 (up from NT$0.24 loss in 3Q 2021). Revenue: NT$2.27b (up 62% from 3Q 2021). Net income: NT$22.5m (up NT$129.0m from 3Q 2021). Profit margin: 1.0% (up from net loss in 3Q 2021). The move to profitability was driven by higher revenue. Revenue exceeded analyst estimates by 9.2%. Earnings per share (EPS) missed analyst estimates by 44%. Revenue is forecast to grow 23% p.a. on average during the next 3 years, compared to a 9.8% growth forecast for the Semiconductor industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 97% per year but the company’s share price has only increased by 65% per year, which means it is significantly lagging earnings growth.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. 4 non-independent directors. Independent Director Gu-Tong Lin was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.Major Estimate Revision • Nov 11Consensus EPS estimates fall by 56%The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from NT$8.87b to NT$8.62b. EPS estimate also fell from NT$0.68 per share to NT$0.30 per share. Net income forecast to grow 179% next year vs 12% decline forecast for Semiconductor industry in Taiwan. Consensus price target down from NT$51.50 to NT$40.50. Share price fell 10.0% to NT$31.50 over the past week.Major Estimate Revision • Sep 20Consensus EPS estimates fall by 40%The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from NT$9.66b to NT$8.87b. EPS estimate also fell from NT$1.12 per share to NT$0.68 per share. Net income forecast to grow 263% next year vs 5.5% decline forecast for Semiconductor industry in Taiwan. Consensus price target up from NT$45.00 to NT$51.50. Share price rose 4.8% to NT$42.40 over the past week.Reported Earnings • Aug 15Second quarter 2022 earnings: EPS misses analyst expectationsSecond quarter 2022 results: EPS: NT$0.03 (up from NT$0.21 loss in 2Q 2021). Revenue: NT$1.89b (up 38% from 2Q 2021). Net income: NT$14.4m (up NT$108.5m from 2Q 2021). Profit margin: 0.8% (up from net loss in 2Q 2021). The move to profitability was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 100%. Over the next year, revenue is forecast to grow 48%, compared to a 20% growth forecast for the Semiconductor industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 90% per year but the company’s share price has only increased by 64% per year, which means it is significantly lagging earnings growth.Price Target Changed • Jul 20Price target decreased to NT$46.50Down from NT$50.33, the current price target is an average from 2 analysts. New target price is 40% above last closing price of NT$33.20. Stock is up 1.1% over the past year. The company is forecast to post earnings per share of NT$1.09 for next year compared to NT$0.10 last year.Major Estimate Revision • Jul 14Consensus EPS estimates fall by 46%The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from NT$11.0b to NT$10.4b. EPS estimate also fell from NT$2.01 per share to NT$1.09 per share. Net income forecast to grow 806% next year vs 12% growth forecast for Semiconductor industry in Taiwan. Consensus price target down from NT$50.33 to NT$47.67. Share price fell 8.9% to NT$31.15 over the past week.공시 • Jul 07+ 1 more updateTSEC Corporation Announces New Sustainable CommitteeTSEC Corporation announced new members to Sustainable Committee. Name of the new position holder: Independent director: Lin, Gu-Tong; Independent director: Chiang, Huai-De; Independent director: Wu, Chia-En; President: Hung, Chen-Ren; Director and Executive Vice President: Liao, Wei-Ran; Audit Supervisor: Chen, Jeng-Tzung. Resume of the new position holder: Lin, Gu-Tong/Deloitte & Touche's Chairman; Zheng,Xian-Zhi/ORIENTAL UNION CHEMICAL Corp.'s Independent director; Shen,Qian-Ru/Gaoxin Material LTD(Asia-Pacific)'s principal; Hung, Chen-Ren/President of the company; Liao, Wei-Ran/Director and Executive Vice President of the company; Chen, Jeng-Tzung/Audit Supervisor of the company. Effective date of the new member is July 5, 2022.Reported Earnings • May 22First quarter 2022 earnings: EPS and revenues miss analyst expectationsFirst quarter 2022 results: EPS: NT$0.06 (up from NT$0.004 in 1Q 2021). Revenue: NT$2.01b (up 76% from 1Q 2021). Net income: NT$28.9m (up NT$27.1m from 1Q 2021). Profit margin: 1.4% (up from 0.2% in 1Q 2021). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 20%. Earnings per share (EPS) also missed analyst estimates by 60%. Over the next year, revenue is forecast to grow 67%, compared to a 23% growth forecast for the industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 87% per year but the company’s share price has only increased by 56% per year, which means it is significantly lagging earnings growth.Board Change • Apr 27Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 4 highly experienced directors. Independent Director Gu-Tong Lin was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.Board Change • Apr 01Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 4 highly experienced directors. Independent Director Gu-Tong Lin was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.Reported Earnings • Mar 30Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behindFull year 2021 results: EPS: NT$0.10 (up from NT$0.74 loss in FY 2020). Revenue: NT$6.16b (up 33% from FY 2020). Net income: NT$46.3m (up NT$332.2m from FY 2020). Profit margin: 0.8% (up from net loss in FY 2020). The move to profitability was driven by higher revenue. Revenue exceeded analyst estimates by 4.5%. Earnings per share (EPS) also surpassed analyst estimates. Over the next year, revenue is forecast to grow 78%, compared to a 24% growth forecast for the industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 85% per year but the company’s share price has only increased by 64% per year, which means it is significantly lagging earnings growth.Reported Earnings • Nov 15Third quarter 2021 earnings released: NT$0.24 loss per share (vs NT$0.35 profit in 3Q 2020)The company reported a soft third quarter result with weaker earnings and weaker control over costs, although revenues improved. Third quarter 2021 results: Revenue: NT$1.41b (up 4.1% from 3Q 2020). Net loss: NT$106.4m (down 181% from profit in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 80% per year but the company’s share price has only increased by 58% per year, which means it is significantly lagging earnings growth.Breakeven Date Change • Nov 15Forecast to breakeven in 2022The analyst covering TSEC expects the company to break even for the first time. New forecast suggests the company will make a profit of NT$920.0m in 2022. Average annual earnings growth of 112% is required to achieve expected profit on schedule.Major Estimate Revision • Aug 20Consensus revenue estimates fall to NT$5.61bThe consensus outlook for revenues in 2021 has deteriorated. 2021 revenue forecast decreased from NT$7.33b to NT$5.61b. Forecast loss of NT$0.15, down from of -NT$0.28 per share profit previously. Semiconductor industry in Taiwan expected to see average net income growth of 42% next year. Consensus price target of NT$32.00 unchanged from last update. Share price fell 6.8% to NT$27.25 over the past week.Reported Earnings • Aug 18Second quarter 2021 earnings released: NT$0.21 loss per share (vs NT$0.15 profit in 2Q 2020)The company reported a soft second quarter result with weaker earnings and weaker control over costs, although revenues improved. Second quarter 2021 results: Revenue: NT$1.37b (up 12% from 2Q 2020). Net loss: NT$94.1m (down 264% from profit in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 74% per year but the company’s share price has only increased by 36% per year, which means it is significantly lagging earnings growth.Major Estimate Revision • Jun 03Consensus revenue estimates fall to NT$7.00bThe consensus outlook for revenues in 2021 has deteriorated. 2021 revenue forecast decreased from NT$8.16b to NT$7.00b. EPS estimate fell from NT$1.84 to NT$0.15 per share. Net income forecast to grow 12% next year vs 31% growth forecast for Semiconductor industry in Taiwan. Consensus price target down from NT$56.00 to NT$32.00. Share price was steady at NT$33.15 over the past week.Price Target Changed • Jun 03Price target decreased to NT$32.00Down from NT$60.00, the current price target is provided by 1 analyst. New target price is approximately in line with last closing price of NT$33.15. Stock is up 379% over the past year.Reported Earnings • May 15First quarter 2021 earnings released: EPS NT$0.004 (vs NT$1.22 loss in 1Q 2020)The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$1.14b (up 13% from 1Q 2020). Net income: NT$1.83m (up NT$464.1m from 1Q 2020). Profit margin: 0.2% (up from net loss in 1Q 2020). Over the last 3 years on average, earnings per share has increased by 61% per year but the company’s share price has only increased by 26% per year, which means it is significantly lagging earnings growth.분석 기사 • Apr 30The Returns On Capital At TSEC (TPE:6443) Don't Inspire ConfidenceIf you're looking for a multi-bagger, there's a few things to keep an eye out for. Firstly, we'd want to identify a...Reported Earnings • Apr 04Full year 2020 earnings released: NT$0.74 loss per share (vs NT$0.60 loss in FY 2019)The company reported a soft full year result with increased losses and weaker control over costs, although revenues improved. Full year 2020 results: Revenue: NT$4.62b (up 4.1% from FY 2019). Net loss: NT$285.9m (loss widened 43% from FY 2019). Over the last 3 years on average, earnings per share has increased by 46% per year whereas the company’s share price has increased by 48% per year.분석 기사 • Mar 31TSEC Corporation's (TPE:6443) About To Shift From Loss To ProfitWith the business potentially at an important milestone, we thought we'd take a closer look at TSEC Corporation's...Reported Earnings • Mar 11Full year 2020 earnings released: NT$0.75 loss per share (vs NT$0.60 loss in FY 2019)The company reported a soft full year result with increased losses and weaker control over costs, although revenues improved. Full year 2020 results: Revenue: NT$4.62b (up 4.1% from FY 2019). Net loss: NT$285.9m (loss widened 43% from FY 2019). Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has only increased by 37% per year, which means it is significantly lagging earnings growth.Analyst Estimate Surprise Post Earnings • Mar 11Earnings beat expectations, revenue disappointsRevenue missed analyst estimates by 3.7%. Earnings per share (EPS) exceeded analyst estimates by 68%. Over the next year, revenue is forecast to grow 67%, compared to a 17% growth forecast for the Semiconductor industry in Taiwan.분석 기사 • Feb 23Can You Imagine How Elated TSEC's (TPE:6443) Shareholders Feel About Its 408% Share Price Gain?It hasn't been the best quarter for TSEC Corporation ( TPE:6443 ) shareholders, since the share price has fallen 17% in...Is New 90 Day High Low • Jan 28New 90-day low: NT$31.45The company is down 15% from its price of NT$37.00 on 30 October 2020. The Taiwanese market is up 23% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Semiconductor industry, which is up 40% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is NT$274 per share.분석 기사 • Jan 26Is TSEC (TPE:6443) Using Too Much Debt?The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...공시 • Jan 20TSEC Corporation, Annual General Meeting, Apr 07, 2021TSEC Corporation, Annual General Meeting, Apr 07, 2021.분석 기사 • Dec 29Analysts Expect Breakeven For TSEC Corporation (TPE:6443) Before LongWe feel now is a pretty good time to analyse TSEC Corporation's ( TPE:6443 ) business as it appears the company may be...분석 기사 • Dec 03Is TSEC (TPE:6443) Struggling?What underlying fundamental trends can indicate that a company might be in decline? A business that's potentially in...Is New 90 Day High Low • Nov 24New 90-day high: NT$42.00The company is up 130% from its price of NT$18.25 on 26 August 2020. The Taiwanese market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Semiconductor industry, which is up 16% over the same period.Reported Earnings • Nov 10Third quarter 2020 earnings released: EPS NT$0.35The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: NT$1.35b (up 13% from 3Q 2019). Net income: NT$131.0m (up NT$215.4m from 3Q 2019). Profit margin: 9.7% (up from net loss in 3Q 2019). The move to profitability was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has only increased by 25% per year, which means it is significantly lagging earnings growth.Is New 90 Day High Low • Oct 27New 90-day high: NT$39.50The company is up 190% from its price of NT$13.60 on 29 July 2020. The Taiwanese market is up 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Semiconductor industry, which is up 4.0% over the same period.Is New 90 Day High Low • Sep 24New 90-day high: NT$27.90The company is up 298% from its price of NT$7.01 on 24 June 2020. The Taiwanese market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Semiconductor industry, which is up 26% over the same period.지급의 안정성과 성장배당 데이터 가져오는 중안정적인 배당: 과거에 6443 의 주당 배당금이 안정적이었는지 판단하기에는 데이터가 부족합니다.배당금 증가: 6443 의 배당금 지급이 증가했는지 판단하기에는 데이터가 부족합니다.배당 수익률 vs 시장TSEC 배당 수익률 vs 시장6443의 배당 수익률은 시장과 어떻게 비교되나요?구분배당 수익률회사 (6443)0%시장 하위 25% (TW)1.4%시장 상위 25% (TW)5.0%업계 평균 (Semiconductor)1.0%분석가 예측 (6443) (최대 3년)n/a주목할만한 배당금: 회사가 최근 지급을 보고하지 않았기 때문에 하위 25%의 배당금 지급자에 대해 6443 의 배당 수익률을 평가할 수 없습니다.고배당: 회사가 최근 지급을 보고하지 않았기 때문에 배당금 지급자의 상위 25%에 대해 6443 의 배당 수익률을 평가할 수 없습니다.주주 대상 이익 배당수익 보장: 6443 TW 시장에서 주목할만한 배당금을 지급하지 않습니다.주주 현금 배당현금 흐름 범위: 6443 에서 지급을 보고하지 않았기 때문에 배당 지속 가능성을 계산할 수 없습니다.높은 배당을 제공하는 우량 기업 찾기7D1Y7D1Y7D1YTW 시장에서 배당이 강한 기업.View Management기업 분석 및 재무 데이터 상태데이터최종 업데이트 (UTC 시간)기업 분석2026/05/27 12:06종가2026/05/27 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 소스TSEC Corporation는 4명의 분석가가 다루고 있습니다. 이 중 0명의 분석가가 우리 보고서에 입력 데이터로 사용되는 매출 또는 수익 추정치를 제출했습니다. 분석가의 제출 자료는 하루 종일 업데이트됩니다.분석가기관Zhizhong ChenCapital Securities CorporationLida ChenMasterlink Securities Investment AdvisoryYi-Pang LinSinoPac Securities Investment Service1명의 분석가 더 보기
Upcoming Dividend • Aug 12Upcoming dividend of NT$0.40 per shareEligible shareholders must have bought the stock before 19 August 2024. Payment date: 10 September 2024. Payout ratio is a comfortable 54% but the company is not cash flow positive. Trailing yield: 1.6%. Lower than top quartile of Taiwanese dividend payers (4.5%). Lower than average of industry peers (2.2%).
공시 • Jun 13TSEC Corporation Announces Cash Dividend, Payable on July 18, 2023TSEC Corporation announced cash dividend of TWD 0.1 (Earnings TWD 0.075; Capital surplus TWD 0.025) per share. Ex-rights (ex-dividend) trading date: June 29, 2023. Ex-rights (ex-dividend) record date: July 7, 2023. Payment date of cash dividend distribution: July 18, 2023.
Reported Earnings • May 15First quarter 2026 earnings released: NT$0.20 loss per share (vs NT$0.23 loss in 1Q 2025)First quarter 2026 results: NT$0.20 loss per share (improved from NT$0.23 loss in 1Q 2025). Revenue: NT$406.1m (down 45% from 1Q 2025). Net loss: NT$100.6m (loss narrowed 15% from 1Q 2025). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 125 percentage points per year, which is a significant difference in performance.
Reported Earnings • Mar 13Full year 2025 earnings released: NT$6.24 loss per share (vs NT$1.17 loss in FY 2024)Full year 2025 results: NT$6.24 loss per share (further deteriorated from NT$1.17 loss in FY 2024). Revenue: NT$1.83b (down 60% from FY 2024). Net loss: NT$3.20b (loss widened 433% from FY 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 129 percentage points per year, which is a significant difference in performance.
공시 • Mar 05TSEC Corporation, Annual General Meeting, May 22, 2026TSEC Corporation, Annual General Meeting, May 22, 2026. Location: no,335-12, ta hsi rd., pingtung city, pingtung county Taiwan
New Risk • Dec 12New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 6.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 31% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (6.8% average weekly change).
Reported Earnings • Nov 12Third quarter 2025 earnings released: NT$1.21 loss per share (vs NT$0.036 profit in 3Q 2024)Third quarter 2025 results: NT$1.21 loss per share (down from NT$0.036 profit in 3Q 2024). Revenue: NT$341.3m (down 72% from 3Q 2024). Net loss: NT$620.2m (down NT$638.6m from profit in 3Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 78 percentage points per year, which is a significant difference in performance.
New Risk • Aug 14New major risk - Revenue and earnings growthEarnings have declined by 2.1% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 124% Cash payout ratio: 92% Earnings have declined by 2.1% per year over the past 5 years.
Reported Earnings • Aug 14Second quarter 2025 earnings released: NT$0.46 loss per share (vs NT$0.059 profit in 2Q 2024)Second quarter 2025 results: NT$0.46 loss per share (down from NT$0.059 profit in 2Q 2024). Revenue: NT$369.5m (down 73% from 2Q 2024). Net loss: NT$237.7m (down NT$268.0m from profit in 2Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 59 percentage points per year, which is a significant difference in performance.
New Risk • May 24New major risk - Share price stabilityThe company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Taiwanese stocks, typically moving 10% 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 (10% average weekly change). Minor Risk Dividend is not well covered by earnings (124% payout ratio).
Reported Earnings • May 13First quarter 2025 earnings released: NT$0.23 loss per share (vs NT$0.043 profit in 1Q 2024)First quarter 2025 results: NT$0.23 loss per share (down from NT$0.043 profit in 1Q 2024). Revenue: NT$741.6m (down 37% from 1Q 2024). Net loss: NT$118.2m (down NT$140.1m from profit in 1Q 2024). Over the last 3 years on average, earnings per share has fallen by 54% per year but the company’s share price has only fallen by 25% per year, which means it has not declined as severely as earnings.
공시 • May 01TSEC Corporation to Report Q1, 2025 Results on May 08, 2025TSEC Corporation announced that they will report Q1, 2025 results on May 08, 2025
Reported Earnings • Mar 20Full year 2024 earnings released: NT$1.17 loss per share (vs NT$1.07 profit in FY 2023)Full year 2024 results: NT$1.17 loss per share (down from NT$1.07 profit in FY 2023). Revenue: NT$4.51b (down 45% from FY 2023). Net loss: NT$600.3m (down 214% from profit in FY 2023). Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has fallen by 21% per year, which means it is performing significantly worse than earnings.
공시 • Mar 06TSEC Corporation, Annual General Meeting, May 23, 2025TSEC Corporation, Annual General Meeting, May 23, 2025. Location: no,335-12, ta hsi rd., pingtung city, pingtung county Taiwan
New Risk • Mar 02New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 6.0% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 124% Paying a dividend despite having no free cash flows. Minor Risks Share price has been volatile over the past 3 months (6.0% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (3.0% net profit margin).
분석 기사 • Jan 13Returns Are Gaining Momentum At TSEC (TWSE:6443)If you're looking for a multi-bagger, there's a few things to keep an eye out for. Ideally, a business will show two...
분석 기사 • Nov 19We Think You Can Look Beyond TSEC's (TWSE:6443) Lackluster EarningsThe most recent earnings report from TSEC Corporation ( TWSE:6443 ) was disappointing for shareholders. Despite the...
Reported Earnings • Nov 15Third quarter 2024 earnings released: EPS: NT$0.04 (vs NT$0.23 in 3Q 2023)Third quarter 2024 results: EPS: NT$0.04 (down from NT$0.23 in 3Q 2023). Revenue: NT$1.21b (down 35% from 3Q 2023). Net income: NT$18.3m (down 84% from 3Q 2023). Profit margin: 1.5% (down from 6.1% in 3Q 2023). Over the last 3 years on average, earnings per share has increased by 47% per year but the company’s share price has fallen by 19% per year, which means it is significantly lagging earnings.
분석 기사 • Nov 13We Think TSEC (TWSE:6443) Can Stay On Top Of Its DebtHoward Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...
공시 • Oct 26TSEC Corporation to Report Q3, 2024 Results on Nov 06, 2024TSEC Corporation announced that they will report Q3, 2024 results on Nov 06, 2024
New Risk • Sep 04New 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: 1.8% 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: Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Shareholders have been diluted in the past year (7.7% increase in shares outstanding).
Reported Earnings • Aug 14Second quarter 2024 earnings released: EPS: NT$0.06 (vs NT$0.30 in 2Q 2023)Second quarter 2024 results: EPS: NT$0.06 (down from NT$0.30 in 2Q 2023). Revenue: NT$1.39b (down 41% from 2Q 2023). Net income: NT$30.2m (down 79% from 2Q 2023). Profit margin: 2.2% (down from 6.0% in 2Q 2023). Over the last 3 years on average, earnings per share has increased by 64% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings.
Upcoming Dividend • Aug 12Upcoming dividend of NT$0.40 per shareEligible shareholders must have bought the stock before 19 August 2024. Payment date: 10 September 2024. Payout ratio is a comfortable 54% but the company is not cash flow positive. Trailing yield: 1.6%. Lower than top quartile of Taiwanese dividend payers (4.5%). Lower than average of industry peers (2.2%).
Valuation Update With 7 Day Price Move • Aug 06Investor sentiment deteriorates as stock falls 17%After last week's 17% share price decline to NT$22.95, the stock trades at a trailing P/E ratio of 31.5x. Average trailing P/E is 26x in the Semiconductor industry in Taiwan. Total loss to shareholders of 24% over the past three years.
분석 기사 • Aug 06TSEC Corporation's (TWSE:6443) 25% Share Price Plunge Could Signal Some RiskTSEC Corporation ( TWSE:6443 ) shares have had a horrible month, losing 25% after a relatively good period beforehand...
공시 • Jul 30TSEC Corporation to Report Q2, 2024 Results on Aug 07, 2024TSEC Corporation announced that they will report Q2, 2024 results on Aug 07, 2024
Valuation Update With 7 Day Price Move • Jul 02Investor sentiment improves as stock rises 15%After last week's 15% share price gain to NT$31.35, the stock trades at a trailing P/E ratio of 43.1x. Average trailing P/E is 32x in the Semiconductor industry in Taiwan. Total loss to shareholders of 4.1% over the past three years.
분석 기사 • Jun 27TSEC (TWSE:6443) Seems To Use Debt Quite SensiblyHoward Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...
Reported Earnings • May 18First quarter 2024 earnings released: EPS: NT$0.04 (vs NT$0.37 in 1Q 2023)First quarter 2024 results: EPS: NT$0.04 (down from NT$0.37 in 1Q 2023). Revenue: NT$1.17b (down 46% from 1Q 2023). Net income: NT$22.0m (down 88% from 1Q 2023). Profit margin: 1.9% (down from 8.1% in 1Q 2023). Over the last 3 years on average, earnings per share has increased by 66% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings.
공시 • Apr 28TSEC Corporation to Report Q1, 2024 Results on May 06, 2024TSEC Corporation announced that they will report Q1, 2024 results on May 06, 2024
분석 기사 • Mar 20TSEC's (TWSE:6443) Solid Earnings Have Been Accounted For ConservativelyThe market seemed underwhelmed by last week's earnings announcement from TSEC Corporation ( TWSE:6443 ) despite the...
New Risk • Mar 16New minor risk - Earnings qualityThe company has large one-off items impacting its financial results. One-off items were 38% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Large one-off items impacting financial results. Shareholders have been diluted in the past year (2.1% increase in shares outstanding).
Reported Earnings • Mar 13Full year 2023 earnings released: EPS: NT$1.07 (vs NT$0.41 in FY 2022)Full year 2023 results: EPS: NT$1.07 (up from NT$0.41 in FY 2022). Revenue: NT$8.26b (down 8.3% from FY 2022). Net income: NT$527.3m (up 178% from FY 2022). Profit margin: 6.4% (up from 2.1% 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 88% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings.
공시 • Mar 07TSEC Corporation, Annual General Meeting, May 24, 2024TSEC Corporation, Annual General Meeting, May 24, 2024. Location: No. 335-12, Daxi Road, Pingtung City, Pingtung Pingtung City Taiwan Agenda: To consider 2023 annual business report; to The Audit Committee reviewed the 2023 final accounts report; to Report on the distribution of remuneration to employees and directors in 2023; to Directors' Remuneration Policy Report; to Revised report on the rules of procedure of the board of directors; to The company's 2023 annual business report and various financial statements are recognized; to The company’s 2023 earnings distribution recognition case; and to consider other matters if any.
공시 • Dec 29TSEC Corporation Announces Resignation of Yang, Shu-Ling as Legal Person Director RepresentativeTSEC Corporation announced the resignation of the company's legal person director representative. Name of legal person: Executive Yuan National Development Fund Management Council. Name of the previous position holder: Yang,Shu-Ling. Reason for the change: resign.
New Risk • Sep 24New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 7.3% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. This is currently the only risk that has been identified for the company.
Reported Earnings • Aug 13Second quarter 2023 earnings released: EPS: NT$0.30 (vs NT$0.032 in 2Q 2022)Second quarter 2023 results: EPS: NT$0.30 (up from NT$0.032 in 2Q 2022). Revenue: NT$2.37b (up 25% from 2Q 2022). Net income: NT$143.1m (up NT$128.7m from 2Q 2022). Profit margin: 6.0% (up from 0.8% in 2Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 113% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth.
Buying Opportunity • Jun 27Now 20% undervalued after recent price dropOver the last 90 days, the stock is down 10%. The fair value is estimated to be NT$43.74, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 30% over the last 3 years. Meanwhile, the company has become profitable.
공시 • Jun 13TSEC Corporation Announces Cash Dividend, Payable on July 18, 2023TSEC Corporation announced cash dividend of TWD 0.1 (Earnings TWD 0.075; Capital surplus TWD 0.025) per share. Ex-rights (ex-dividend) trading date: June 29, 2023. Ex-rights (ex-dividend) record date: July 7, 2023. Payment date of cash dividend distribution: July 18, 2023.
Reported Earnings • Mar 15Full year 2022 earnings: EPS and revenues exceed analyst expectationsFull year 2022 results: EPS: NT$0.41 (up from NT$0.10 in FY 2021). Revenue: NT$9.01b (up 46% from FY 2021). Net income: NT$189.7m (up 310% from FY 2021). Profit margin: 2.1% (up from 0.8% in FY 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.4%. Earnings per share (EPS) also surpassed analyst estimates by 32%. Revenue is forecast to grow 21% p.a. on average during the next 2 years, compared to a 8.3% growth forecast for the Semiconductor industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 104% per year whereas the company’s share price has increased by 101% per year.
Major Estimate Revision • Dec 31Consensus EPS estimates increase by 22%The consensus outlook for earnings per share (EPS) in 2022 has improved. 2022 revenue forecast increased from NT$8.62b to NT$8.88b. EPS estimate increased from NT$0.26 to NT$0.31 per share. Net income forecast to grow 132% next year vs 15% decline forecast for Semiconductor industry in Taiwan. Consensus price target down from NT$40.50 to NT$35.50. Share price was steady at NT$34.55 over the past week.
Reported Earnings • Nov 16Third quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behindThird quarter 2022 results: EPS: NT$0.05 (up from NT$0.24 loss in 3Q 2021). Revenue: NT$2.27b (up 62% from 3Q 2021). Net income: NT$22.5m (up NT$129.0m from 3Q 2021). Profit margin: 1.0% (up from net loss in 3Q 2021). The move to profitability was driven by higher revenue. Revenue exceeded analyst estimates by 9.2%. Earnings per share (EPS) missed analyst estimates by 44%. Revenue is forecast to grow 23% p.a. on average during the next 3 years, compared to a 9.8% growth forecast for the Semiconductor industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 97% per year but the company’s share price has only increased by 65% per year, which means it is significantly lagging earnings growth.
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. 4 non-independent directors. Independent Director Gu-Tong Lin was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
Major Estimate Revision • Nov 11Consensus EPS estimates fall by 56%The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from NT$8.87b to NT$8.62b. EPS estimate also fell from NT$0.68 per share to NT$0.30 per share. Net income forecast to grow 179% next year vs 12% decline forecast for Semiconductor industry in Taiwan. Consensus price target down from NT$51.50 to NT$40.50. Share price fell 10.0% to NT$31.50 over the past week.
Major Estimate Revision • Sep 20Consensus EPS estimates fall by 40%The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from NT$9.66b to NT$8.87b. EPS estimate also fell from NT$1.12 per share to NT$0.68 per share. Net income forecast to grow 263% next year vs 5.5% decline forecast for Semiconductor industry in Taiwan. Consensus price target up from NT$45.00 to NT$51.50. Share price rose 4.8% to NT$42.40 over the past week.
Reported Earnings • Aug 15Second quarter 2022 earnings: EPS misses analyst expectationsSecond quarter 2022 results: EPS: NT$0.03 (up from NT$0.21 loss in 2Q 2021). Revenue: NT$1.89b (up 38% from 2Q 2021). Net income: NT$14.4m (up NT$108.5m from 2Q 2021). Profit margin: 0.8% (up from net loss in 2Q 2021). The move to profitability was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 100%. Over the next year, revenue is forecast to grow 48%, compared to a 20% growth forecast for the Semiconductor industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 90% per year but the company’s share price has only increased by 64% per year, which means it is significantly lagging earnings growth.
Price Target Changed • Jul 20Price target decreased to NT$46.50Down from NT$50.33, the current price target is an average from 2 analysts. New target price is 40% above last closing price of NT$33.20. Stock is up 1.1% over the past year. The company is forecast to post earnings per share of NT$1.09 for next year compared to NT$0.10 last year.
Major Estimate Revision • Jul 14Consensus EPS estimates fall by 46%The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from NT$11.0b to NT$10.4b. EPS estimate also fell from NT$2.01 per share to NT$1.09 per share. Net income forecast to grow 806% next year vs 12% growth forecast for Semiconductor industry in Taiwan. Consensus price target down from NT$50.33 to NT$47.67. Share price fell 8.9% to NT$31.15 over the past week.
공시 • Jul 07+ 1 more updateTSEC Corporation Announces New Sustainable CommitteeTSEC Corporation announced new members to Sustainable Committee. Name of the new position holder: Independent director: Lin, Gu-Tong; Independent director: Chiang, Huai-De; Independent director: Wu, Chia-En; President: Hung, Chen-Ren; Director and Executive Vice President: Liao, Wei-Ran; Audit Supervisor: Chen, Jeng-Tzung. Resume of the new position holder: Lin, Gu-Tong/Deloitte & Touche's Chairman; Zheng,Xian-Zhi/ORIENTAL UNION CHEMICAL Corp.'s Independent director; Shen,Qian-Ru/Gaoxin Material LTD(Asia-Pacific)'s principal; Hung, Chen-Ren/President of the company; Liao, Wei-Ran/Director and Executive Vice President of the company; Chen, Jeng-Tzung/Audit Supervisor of the company. Effective date of the new member is July 5, 2022.
Reported Earnings • May 22First quarter 2022 earnings: EPS and revenues miss analyst expectationsFirst quarter 2022 results: EPS: NT$0.06 (up from NT$0.004 in 1Q 2021). Revenue: NT$2.01b (up 76% from 1Q 2021). Net income: NT$28.9m (up NT$27.1m from 1Q 2021). Profit margin: 1.4% (up from 0.2% in 1Q 2021). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 20%. Earnings per share (EPS) also missed analyst estimates by 60%. Over the next year, revenue is forecast to grow 67%, compared to a 23% growth forecast for the industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 87% per year but the company’s share price has only increased by 56% per year, which means it is significantly lagging earnings growth.
Board Change • Apr 27Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 4 highly experienced directors. Independent Director Gu-Tong Lin was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.
Board Change • Apr 01Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 4 highly experienced directors. Independent Director Gu-Tong Lin was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.
Reported Earnings • Mar 30Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behindFull year 2021 results: EPS: NT$0.10 (up from NT$0.74 loss in FY 2020). Revenue: NT$6.16b (up 33% from FY 2020). Net income: NT$46.3m (up NT$332.2m from FY 2020). Profit margin: 0.8% (up from net loss in FY 2020). The move to profitability was driven by higher revenue. Revenue exceeded analyst estimates by 4.5%. Earnings per share (EPS) also surpassed analyst estimates. Over the next year, revenue is forecast to grow 78%, compared to a 24% growth forecast for the industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 85% per year but the company’s share price has only increased by 64% per year, which means it is significantly lagging earnings growth.
Reported Earnings • Nov 15Third quarter 2021 earnings released: NT$0.24 loss per share (vs NT$0.35 profit in 3Q 2020)The company reported a soft third quarter result with weaker earnings and weaker control over costs, although revenues improved. Third quarter 2021 results: Revenue: NT$1.41b (up 4.1% from 3Q 2020). Net loss: NT$106.4m (down 181% from profit in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 80% per year but the company’s share price has only increased by 58% per year, which means it is significantly lagging earnings growth.
Breakeven Date Change • Nov 15Forecast to breakeven in 2022The analyst covering TSEC expects the company to break even for the first time. New forecast suggests the company will make a profit of NT$920.0m in 2022. Average annual earnings growth of 112% is required to achieve expected profit on schedule.
Major Estimate Revision • Aug 20Consensus revenue estimates fall to NT$5.61bThe consensus outlook for revenues in 2021 has deteriorated. 2021 revenue forecast decreased from NT$7.33b to NT$5.61b. Forecast loss of NT$0.15, down from of -NT$0.28 per share profit previously. Semiconductor industry in Taiwan expected to see average net income growth of 42% next year. Consensus price target of NT$32.00 unchanged from last update. Share price fell 6.8% to NT$27.25 over the past week.
Reported Earnings • Aug 18Second quarter 2021 earnings released: NT$0.21 loss per share (vs NT$0.15 profit in 2Q 2020)The company reported a soft second quarter result with weaker earnings and weaker control over costs, although revenues improved. Second quarter 2021 results: Revenue: NT$1.37b (up 12% from 2Q 2020). Net loss: NT$94.1m (down 264% from profit in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 74% per year but the company’s share price has only increased by 36% per year, which means it is significantly lagging earnings growth.
Major Estimate Revision • Jun 03Consensus revenue estimates fall to NT$7.00bThe consensus outlook for revenues in 2021 has deteriorated. 2021 revenue forecast decreased from NT$8.16b to NT$7.00b. EPS estimate fell from NT$1.84 to NT$0.15 per share. Net income forecast to grow 12% next year vs 31% growth forecast for Semiconductor industry in Taiwan. Consensus price target down from NT$56.00 to NT$32.00. Share price was steady at NT$33.15 over the past week.
Price Target Changed • Jun 03Price target decreased to NT$32.00Down from NT$60.00, the current price target is provided by 1 analyst. New target price is approximately in line with last closing price of NT$33.15. Stock is up 379% over the past year.
Reported Earnings • May 15First quarter 2021 earnings released: EPS NT$0.004 (vs NT$1.22 loss in 1Q 2020)The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$1.14b (up 13% from 1Q 2020). Net income: NT$1.83m (up NT$464.1m from 1Q 2020). Profit margin: 0.2% (up from net loss in 1Q 2020). Over the last 3 years on average, earnings per share has increased by 61% per year but the company’s share price has only increased by 26% per year, which means it is significantly lagging earnings growth.
분석 기사 • Apr 30The Returns On Capital At TSEC (TPE:6443) Don't Inspire ConfidenceIf you're looking for a multi-bagger, there's a few things to keep an eye out for. Firstly, we'd want to identify a...
Reported Earnings • Apr 04Full year 2020 earnings released: NT$0.74 loss per share (vs NT$0.60 loss in FY 2019)The company reported a soft full year result with increased losses and weaker control over costs, although revenues improved. Full year 2020 results: Revenue: NT$4.62b (up 4.1% from FY 2019). Net loss: NT$285.9m (loss widened 43% from FY 2019). Over the last 3 years on average, earnings per share has increased by 46% per year whereas the company’s share price has increased by 48% per year.
분석 기사 • Mar 31TSEC Corporation's (TPE:6443) About To Shift From Loss To ProfitWith the business potentially at an important milestone, we thought we'd take a closer look at TSEC Corporation's...
Reported Earnings • Mar 11Full year 2020 earnings released: NT$0.75 loss per share (vs NT$0.60 loss in FY 2019)The company reported a soft full year result with increased losses and weaker control over costs, although revenues improved. Full year 2020 results: Revenue: NT$4.62b (up 4.1% from FY 2019). Net loss: NT$285.9m (loss widened 43% from FY 2019). Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has only increased by 37% per year, which means it is significantly lagging earnings growth.
Analyst Estimate Surprise Post Earnings • Mar 11Earnings beat expectations, revenue disappointsRevenue missed analyst estimates by 3.7%. Earnings per share (EPS) exceeded analyst estimates by 68%. Over the next year, revenue is forecast to grow 67%, compared to a 17% growth forecast for the Semiconductor industry in Taiwan.
분석 기사 • Feb 23Can You Imagine How Elated TSEC's (TPE:6443) Shareholders Feel About Its 408% Share Price Gain?It hasn't been the best quarter for TSEC Corporation ( TPE:6443 ) shareholders, since the share price has fallen 17% in...
Is New 90 Day High Low • Jan 28New 90-day low: NT$31.45The company is down 15% from its price of NT$37.00 on 30 October 2020. The Taiwanese market is up 23% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Semiconductor industry, which is up 40% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is NT$274 per share.
분석 기사 • Jan 26Is TSEC (TPE:6443) Using Too Much Debt?The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...
공시 • Jan 20TSEC Corporation, Annual General Meeting, Apr 07, 2021TSEC Corporation, Annual General Meeting, Apr 07, 2021.
분석 기사 • Dec 29Analysts Expect Breakeven For TSEC Corporation (TPE:6443) Before LongWe feel now is a pretty good time to analyse TSEC Corporation's ( TPE:6443 ) business as it appears the company may be...
분석 기사 • Dec 03Is TSEC (TPE:6443) Struggling?What underlying fundamental trends can indicate that a company might be in decline? A business that's potentially in...
Is New 90 Day High Low • Nov 24New 90-day high: NT$42.00The company is up 130% from its price of NT$18.25 on 26 August 2020. The Taiwanese market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Semiconductor industry, which is up 16% over the same period.
Reported Earnings • Nov 10Third quarter 2020 earnings released: EPS NT$0.35The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: NT$1.35b (up 13% from 3Q 2019). Net income: NT$131.0m (up NT$215.4m from 3Q 2019). Profit margin: 9.7% (up from net loss in 3Q 2019). The move to profitability was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has only increased by 25% per year, which means it is significantly lagging earnings growth.
Is New 90 Day High Low • Oct 27New 90-day high: NT$39.50The company is up 190% from its price of NT$13.60 on 29 July 2020. The Taiwanese market is up 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Semiconductor industry, which is up 4.0% over the same period.
Is New 90 Day High Low • Sep 24New 90-day high: NT$27.90The company is up 298% from its price of NT$7.01 on 24 June 2020. The Taiwanese market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Semiconductor industry, which is up 26% over the same period.