Reported Earnings • Mar 31
Full year 2025 earnings released: NT$1.44 loss per share (vs NT$0.47 profit in FY 2024) Full year 2025 results: NT$1.44 loss per share (down from NT$0.47 profit in FY 2024). Revenue: NT$2.03b (flat on FY 2024). Net loss: NT$97.5m (down 407% from profit in FY 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 96 percentage points per year, which is a significant difference in performance. 공시 • Mar 11
Winstar Display Co., Ltd., Annual General Meeting, Jun 09, 2026 Winstar Display Co., Ltd., Annual General Meeting, Jun 09, 2026, at 10:00 Taipei Standard Time. Location: no,19, k`o yuan rd., hsi tun district, taichung city Taiwan Reported Earnings • Nov 15
Third quarter 2025 earnings released: NT$0.05 loss per share (vs NT$0.17 profit in 3Q 2024) Third quarter 2025 results: NT$0.05 loss per share (down from NT$0.17 profit in 3Q 2024). Revenue: NT$503.9m (down 11% from 3Q 2024). Net loss: NT$3.61m (down 131% 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 88 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 15
Second quarter 2025 earnings released: NT$0.93 loss per share (vs NT$0.01 profit in 2Q 2024) Second quarter 2025 results: NT$0.93 loss per share (down from NT$0.01 profit in 2Q 2024). Revenue: NT$500.2m (down 1.6% from 2Q 2024). Net loss: NT$63.1m (down NT$63.7m from profit in 2Q 2024). Declared Dividend • Aug 14
Dividend reduced to NT$0.28 Dividend of NT$0.28 is 73% lower than last year. Ex-date: 28th August 2025 Payment date: 24th September 2025 Dividend yield will be 1.4%, which is lower than the industry average of 3.0%. Sustainability & Growth Dividend is covered by earnings (64% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has decreased over the past 26 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to decline by 28% to shift the payout ratio to a potentially unsustainable range, which is more than the 20% EPS decline seen over the last 5 years. Reported Earnings • May 16
First quarter 2025 earnings released: EPS: NT$0.01 (vs NT$0.048 in 1Q 2024) First quarter 2025 results: EPS: NT$0.01 (down from NT$0.048 in 1Q 2024). Revenue: NT$515.9m (up 10% from 1Q 2024). Net income: NT$860.0k (down 74% from 1Q 2024). Profit margin: 0.2% (down from 0.7% in 1Q 2024). The decrease in margin was driven by higher expenses. Valuation Update With 7 Day Price Move • May 13
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to NT$25.30, the stock trades at a trailing P/E ratio of 53.9x. Average trailing P/E is 24x in the Semiconductor industry in Taiwan. Total returns to shareholders of 1.3% over the past year. 공시 • May 01
Winstar Display Co., Ltd. to Report Q1, 2025 Results on May 09, 2025 Winstar Display Co., Ltd. announced that they will report Q1, 2025 results on May 09, 2025 Valuation Update With 7 Day Price Move • Apr 22
Investor sentiment improves as stock rises 39% After last week's 39% share price gain to NT$26.00, the stock trades at a trailing P/E ratio of 55.3x. Average trailing P/E is 21x in the Semiconductor industry in Taiwan. Total returns to shareholders of 12% over the past year. Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to NT$17.75, the stock trades at a trailing P/E ratio of 37.8x. Average trailing P/E is 22x in the Semiconductor industry in Taiwan. Total loss to shareholders of 31% over the past year. Reported Earnings • Apr 02
Full year 2024 earnings released: EPS: NT$0.47 (vs NT$1.33 in FY 2023) Full year 2024 results: EPS: NT$0.47 (down from NT$1.33 in FY 2023). Revenue: NT$2.03b (down 8.8% from FY 2023). Net income: NT$31.7m (down 61% from FY 2023). Profit margin: 1.6% (down from 3.6% in FY 2023). The decrease in margin was driven by lower revenue. New Risk • Mar 07
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 6.0% 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. Dividend per share is over 6x earnings per share. 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). Profit margins are more than 30% lower than last year (0.5% net profit margin). Market cap is less than US$100m (NT$2.07b market cap, or US$63.0m). 공시 • Mar 04
Winstar Display Co., Ltd. to Report Fiscal Year 2024 Results on Mar 11, 2025 Winstar Display Co., Ltd. announced that they will report fiscal year 2024 results on Mar 11, 2025 Reported Earnings • Nov 18
Third quarter 2024 earnings released: EPS: NT$0.17 (vs NT$0.62 in 3Q 2023) Third quarter 2024 results: EPS: NT$0.17 (down from NT$0.62 in 3Q 2023). Revenue: NT$567.3m (up 13% from 3Q 2023). Net income: NT$11.6m (down 69% from 3Q 2023). Profit margin: 2.0% (down from 7.4% in 3Q 2023). The decrease in margin was driven by higher expenses. 공시 • Nov 05
Winstar Display Co., Ltd. to Report Q3, 2024 Results on Nov 12, 2024 Winstar Display Co., Ltd. announced that they will report Q3, 2024 results on Nov 12, 2024 Reported Earnings • Aug 17
Second quarter 2024 earnings released: EPS: NT$0.01 (vs NT$0.35 in 2Q 2023) Second quarter 2024 results: EPS: NT$0.01 (down from NT$0.35 in 2Q 2023). Revenue: NT$508.5m (down 8.4% from 2Q 2023). Net income: NT$650.0k (down 97% from 2Q 2023). Profit margin: 0.1% (down from 3.8% in 2Q 2023). The decrease in margin was driven by lower revenue. Upcoming Dividend • Aug 16
Upcoming dividend of NT$1.05 per share Eligible shareholders must have bought the stock before 23 August 2024. Payment date: 16 September 2024. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 4.3%. Lower than top quartile of Taiwanese dividend payers (4.4%). Higher than average of industry peers (2.1%). Valuation Update With 7 Day Price Move • Aug 06
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to NT$22.70, the stock trades at a trailing P/E ratio of 26.8x. Average trailing P/E is 26x in the Semiconductor industry in Taiwan. Total loss to shareholders of 37% over the past year. 공시 • Jul 31
Winstar Display Co., Ltd. to Report Q2, 2024 Results on Aug 07, 2024 Winstar Display Co., Ltd. announced that they will report Q2, 2024 results on Aug 07, 2024 Reported Earnings • May 19
First quarter 2024 earnings released: EPS: NT$0.05 (vs NT$0.45 in 1Q 2023) First quarter 2024 results: EPS: NT$0.05 (down from NT$0.45 in 1Q 2023). Revenue: NT$468.1m (down 33% from 1Q 2023). Net income: NT$3.25m (down 88% from 1Q 2023). Profit margin: 0.7% (down from 3.8% in 1Q 2023). The decrease in margin was driven by lower revenue. 공시 • May 16
Winstar Display Co., Ltd. announced that it expects to receive TWD 150 million in funding Winstar Display Co., Ltd. announced a private placement to issue 15,000,000 common shares at an issue price of TWD 10 per share for the gross proceeds of TWD 150,000,000 on May 14, 2024. The transaction has been approved by shareholders of the company, 공시 • May 08
Winstar Display Co., Ltd. to Report Q1, 2024 Results on May 14, 2024 Winstar Display Co., Ltd. announced that they will report Q1, 2024 results on May 14, 2024 Reported Earnings • Mar 20
Full year 2023 earnings released: EPS: NT$1.33 (vs NT$5.02 in FY 2022) Full year 2023 results: EPS: NT$1.33 (down from NT$5.02 in FY 2022). Revenue: NT$2.23b (down 26% from FY 2022). Net income: NT$80.8m (down 72% from FY 2022). Profit margin: 3.6% (down from 9.7% in FY 2022). The decrease in margin was driven by lower revenue. New Risk • Dec 23
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 13% 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. Currently, the following risks have been identified for the company: Minor Risks Short dividend paying track record (less than a year of continuous dividend payments). Profit margins are more than 30% lower than last year (5.4% net profit margin). Shareholders have been diluted in the past year (13% increase in shares outstanding). Market cap is less than US$100m (NT$1.93b market cap, or US$62.1m). New Risk • Nov 23
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 5.4% Last year net profit margin: 8.9% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Short dividend paying track record (less than a year of continuous dividend payments). Profit margins are more than 30% lower than last year (5.4% net profit margin). Market cap is less than US$100m (NT$1.97b market cap, or US$62.3m). Reported Earnings • Nov 12
Third quarter 2023 earnings released: EPS: NT$0.62 (vs NT$1.62 in 3Q 2022) Third quarter 2023 results: EPS: NT$0.62 (down from NT$1.62 in 3Q 2022). Revenue: NT$501.6m (down 37% from 3Q 2022). Net income: NT$37.4m (down 61% from 3Q 2022). Profit margin: 7.4% (down from 12% in 3Q 2022). The decrease in margin was driven by lower revenue. Reported Earnings • Jul 31
First quarter 2023 earnings released: EPS: NT$0.51 (vs NT$0.88 in 1Q 2022) First quarter 2023 results: EPS: NT$0.51 (down from NT$0.88 in 1Q 2022). Revenue: NT$701.6m (flat on 1Q 2022). Net income: NT$26.9m (down 46% from 1Q 2022). Profit margin: 3.8% (down from 7.2% in 1Q 2022). Reported Earnings • Apr 27
Full year 2022 earnings released: EPS: NT$5.73 (vs NT$1.54 in FY 2021) Full year 2022 results: EPS: NT$5.73 (up from NT$1.54 in FY 2021). Revenue: NT$3.00b (up 35% from FY 2021). Net income: NT$289.8m (up 369% from FY 2021). Profit margin: 9.7% (up from 2.8% in FY 2021). The increase in margin was driven by higher revenue. Valuation Update With 7 Day Price Move • Feb 23
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$38.00, the stock trades at a trailing P/E ratio of 15.1x. Average trailing P/E is 13x in the Semiconductor industry in Taiwan.