View ValuationTurn Cloud Technology Service 향후 성장Future 기준 점검 0/6현재 Turn Cloud Technology Service 의 성장과 수익을 예측할 만큼 분석가의 범위가 충분하지 않습니다.핵심 정보n/a이익 성장률n/aEPS 성장률Software 이익 성장38.8%매출 성장률n/a향후 자기자본이익률n/a애널리스트 커버리지Low마지막 업데이트22 Jan 2026최근 향후 성장 업데이트Price Target Changed • Jan 21Price target increased by 16% to NT$306Up from NT$263, the current price target is provided by 1 analyst. New target price is 55% above last closing price of NT$198. Stock is down 7.6% over the past year. The company posted earnings per share of NT$4.94 last year.모든 업데이트 보기Recent updatesReported Earnings • Mar 14Full year 2025 earnings released: EPS: NT$7.08 (vs NT$4.95 in FY 2024)Full year 2025 results: EPS: NT$7.08 (up from NT$4.95 in FY 2024). Revenue: NT$804.3m (up 20% from FY 2024). Net income: NT$165.4m (up 43% from FY 2024). Profit margin: 21% (up from 17% 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 26% per year whereas the company’s share price has increased by 23% per year.공시 • Mar 12Turn Cloud Technology Service Inc., Annual General Meeting, May 28, 2026Turn Cloud Technology Service Inc., Annual General Meeting, May 28, 2026. Location: 23- floor building. d no,93, sec.1 hsin t`ai 5th rd., sijhih district, new taipei city TaiwanPrice Target Changed • Jan 21Price target increased by 16% to NT$306Up from NT$263, the current price target is provided by 1 analyst. New target price is 55% above last closing price of NT$198. Stock is down 7.6% over the past year. The company posted earnings per share of NT$4.94 last year.Valuation Update With 7 Day Price Move • Dec 12Investor sentiment improves as stock rises 15%After last week's 15% share price gain to NT$218, the stock trades at a trailing P/E ratio of 32.4x. Average forward P/E is 31x in the Software industry in Taiwan. Total returns to shareholders of 105% over the past three years.Reported Earnings • Nov 18Third quarter 2025 earnings released: EPS: NT$2.91 (vs NT$1.27 in 3Q 2024)Third quarter 2025 results: EPS: NT$2.91 (up from NT$1.27 in 3Q 2024). Revenue: NT$229.2m (up 26% from 3Q 2024). Net income: NT$68.0m (up 129% from 3Q 2024). Profit margin: 30% (up from 16% in 3Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has increased by 29% per year, which means it is tracking significantly ahead of earnings growth.Valuation Update With 7 Day Price Move • Sep 21Investor sentiment improves as stock rises 22%After last week's 22% share price gain to NT$248, the stock trades at a trailing P/E ratio of 48.8x. Average forward P/E is 35x in the Software industry in Taiwan. Total returns to shareholders of 142% over the past three years.Reported Earnings • Aug 17Second quarter 2025 earnings released: EPS: NT$0.84 (vs NT$0.82 in 2Q 2024)Second quarter 2025 results: EPS: NT$0.84 (up from NT$0.82 in 2Q 2024). Revenue: NT$163.0m (up 13% from 2Q 2024). Net income: NT$19.3m (up 3.2% from 2Q 2024). Profit margin: 12% (down from 13% in 2Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 18% per year whereas the company’s share price has increased by 17% per year.Upcoming Dividend • Jun 25Upcoming dividend of NT$4.30 per shareEligible shareholders must have bought the stock before 02 July 2025. Payment date: 21 July 2025. Payout ratio is on the higher end at 84% but the company is not cash flow positive. Trailing yield: 2.1%. Lower than top quartile of Taiwanese dividend payers (5.3%). Lower than average of industry peers (2.9%).Valuation Update With 7 Day Price Move • Jun 11Investor sentiment improves as stock rises 19%After last week's 19% share price gain to NT$200, the stock trades at a trailing P/E ratio of 38.9x. Average forward P/E is 33x in the Software industry in Taiwan. Total returns to shareholders of 49% over the past three years.Reported Earnings • May 15First quarter 2025 earnings released: EPS: NT$0.66 (vs NT$0.56 in 1Q 2024)First quarter 2025 results: EPS: NT$0.66 (up from NT$0.56 in 1Q 2024). Revenue: NT$155.2m (up 21% from 1Q 2024). Net income: NT$15.0m (up 18% from 1Q 2024). Profit margin: 9.7% (in line with 1Q 2024). Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth.Buy Or Sell Opportunity • Apr 09Now 21% undervalued after recent price dropOver the last 90 days, the stock has fallen 29% to NT$153. The fair value is estimated to be NT$193, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Earnings per share has grown by 17%.Reported Earnings • Mar 20Full year 2024 earnings released: EPS: NT$5.04 (vs NT$3.81 in FY 2023)Full year 2024 results: EPS: NT$5.04 (up from NT$3.81 in FY 2023). Revenue: NT$668.5m (up 24% from FY 2023). Net income: NT$115.4m (up 42% from FY 2023). Profit margin: 17% (up from 15% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth.공시 • Mar 14Turn Cloud Technology Service Inc., Annual General Meeting, Jun 06, 2025Turn Cloud Technology Service Inc., Annual General Meeting, Jun 06, 2025, at 10:00 Taipei Standard Time. Location: 23- floor building. d no,93, sec.1 hsin t`ai 5th rd., sijhih district, new taipei city TaiwanNew Risk • Mar 13New minor risk - Dividend sustainabilityThe dividend is not well covered by cash flows. The company is paying a dividend despite having no free cash flows. Dividend yield: 1.7% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (21% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (7.8% average weekly change).New Risk • Jan 31New 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 7.8% 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 Risks Share price has been highly volatile over the past 3 months (7.8% average weekly change). High level of non-cash earnings (21% accrual ratio).Valuation Update With 7 Day Price Move • Nov 28Investor sentiment deteriorates as stock falls 15%After last week's 15% share price decline to NT$226, the stock trades at a trailing P/E ratio of 62.6x. Average forward P/E is 32x in the Software industry in Taiwan. Total returns to shareholders of 126% over the past three years.New Risk • Nov 17New major risk - Earnings qualityThe company has a high level of non-cash earnings. Accrual ratio: 22% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. This is currently the only risk that has been identified for the company.Reported Earnings • Aug 18Second quarter 2024 earnings released: EPS: NT$0.86 (vs NT$1.11 in 2Q 2023)Second quarter 2024 results: EPS: NT$0.86 (down from NT$1.11 in 2Q 2023). Revenue: NT$144.2m (up 6.6% from 2Q 2023). Net income: NT$18.7m (down 14% from 2Q 2023). Profit margin: 13% (down from 16% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 34% p.a. on average during the next 2 years, compared to a 19% growth forecast for the Software industry in Taiwan.Buy Or Sell Opportunity • Aug 02Now 24% undervaluedOver the last 90 days, the stock has risen 59% to NT$208. The fair value is estimated to be NT$272, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Earnings per share has grown by 20%.Valuation Update With 7 Day Price Move • Jul 07Investor sentiment improves as stock rises 18%After last week's 18% share price gain to NT$234, the stock trades at a trailing P/E ratio of 60.3x. Average forward P/E is 25x in the Software industry in Taiwan. Total returns to shareholders of 36% over the past year.New Risk • Jun 21New 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 6.7% 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. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (6.7% average weekly change). Shareholders have been diluted in the past year (11% increase in shares outstanding).Valuation Update With 7 Day Price Move • Jun 21Investor sentiment improves as stock rises 20%After last week's 20% share price gain to NT$194, the stock trades at a trailing P/E ratio of 49.9x. Average forward P/E is 24x in the Software industry in Taiwan. Total returns to shareholders of 38% over the past year.Upcoming Dividend • Jun 17Upcoming dividend of NT$3.30 per shareEligible shareholders must have bought the stock before 24 June 2024. Payment date: 15 July 2024. Payout ratio and cash payout ratio are on the higher end at 81% and 76% respectively. Trailing yield: 2.0%. Lower than top quartile of Taiwanese dividend payers (4.2%). In line with average of industry peers (2.2%).Buy Or Sell Opportunity • May 08Now 30% overvalued after recent price riseOver the last 90 days, the stock has risen 4.2% to NT$150. The fair value is estimated to be NT$116, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years. Earnings per share has grown by 25%.Reported Earnings • Mar 17Full year 2023 earnings released: EPS: NT$4.00 (vs NT$3.46 in FY 2022)Full year 2023 results: EPS: NT$4.00 (up from NT$3.46 in FY 2022). Revenue: NT$538.9m (up 16% from FY 2022). Net income: NT$81.1m (up 27% from FY 2022). Profit margin: 15% (up from 14% in FY 2022). The increase in margin was driven by higher revenue.공시 • Mar 15Turn Cloud Technology Service Inc., Annual General Meeting, Jun 06, 2024Turn Cloud Technology Service Inc., Annual General Meeting, Jun 06, 2024.New Risk • Feb 03New minor risk - Market cap sizeThe company's market capitalization is less than US$100m. Market cap: NT$3.14b (US$100.0m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (112% cash payout ratio). Shareholders have been diluted in the past year (11% increase in shares outstanding). Market cap is less than US$100m (NT$3.14b market cap, or US$100.0m).New Risk • Nov 27New 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 5.8% 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: Minor Risks Share price has been volatile over the past 3 months (5.8% average weekly change). Shareholders have been diluted in the past year (11% increase in shares outstanding).Reported Earnings • Nov 15Third quarter 2023 earnings: EPS and revenues miss analyst expectationsThird quarter 2023 results: EPS: NT$1.44 (up from NT$1.10 in 3Q 2022). Revenue: NT$147.2m (up 15% from 3Q 2022). Net income: NT$28.8m (up 34% from 3Q 2022). Profit margin: 20% (up from 17% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 62%. Earnings per share (EPS) also missed analyst estimates by 68%. Revenue is forecast to grow 62% p.a. on average during the next 2 years, compared to a 21% growth forecast for the Software industry in Asia.Valuation Update With 7 Day Price Move • Jun 29Investor sentiment improves as stock rises 20%After last week's 20% share price gain to NT$173, the stock trades at a trailing P/E ratio of 47x. Average trailing P/E is 25x in the Software industry in Taiwan. Total returns to shareholders of 18% over the past year.Upcoming Dividend • Jun 21Upcoming dividend of NT$3.00 per share at 2.1% yieldEligible shareholders must have bought the stock before 28 June 2023. Payment date: 21 July 2023. Payout ratio is on the higher end at 79% but the company is not cash flow positive. Trailing yield: 2.1%. Lower than top quartile of Taiwanese dividend payers (5.5%). Lower than average of industry peers (2.5%).Reported Earnings • Apr 25Third quarter 2022 earnings released: EPS: NT$1.10 (vs NT$0.77 in 3Q 2021)Third quarter 2022 results: EPS: NT$1.10 (up from NT$0.77 in 3Q 2021). Revenue: NT$128.4m (up 29% from 3Q 2021). Net income: NT$21.4m (up 57% from 3Q 2021). Profit margin: 17% (up from 14% in 3Q 2021). The increase in margin was driven by higher revenue.Valuation Update With 7 Day Price Move • Dec 09Investor sentiment improved over the past weekAfter last week's 17% share price gain to NT$122, the stock trades at a trailing P/E ratio of 49.3x. Average trailing P/E is 14x in the Software industry in Taiwan. Total returns to shareholders of 15% over the past year.공시 • Apr 16Turn Cloud Technology Service Inc., Annual General Meeting, Jun 30, 2022Turn Cloud Technology Service Inc., Annual General Meeting, Jun 30, 2022.이익 및 매출 성장 예측TPEX:6870 - 애널리스트 향후 추정치 및 과거 재무 데이터 (TWD Millions)날짜매출이익자유현금흐름영업현금흐름평균 애널리스트 수12/31/2026978N/A147155112/31/2025804165-500-9N/A9/30/2025762157-47410N/A6/30/2025714118-47220N/A3/31/2025695118-46049N/A12/31/2024668115-4710N/A9/30/202459883-39-8N/A6/30/202456382110132N/A3/31/2024554857780N/A12/31/20235398131101N/A9/30/20235317158128N/A6/30/202350574-78-11N/A3/31/202346772-85-15N/A12/31/202246464-32-29N/A9/30/202242766-80-75N/A6/30/202240648-36-28N/A3/31/202239839-49-43N/A12/31/202137649-46-39N/A9/30/202137145-48-43N/A6/30/202136541-50-47N/A3/31/202133232-49-47N/A12/31/202030022-47-47N/A12/31/201925317-8-5N/A더 보기애널리스트 향후 성장 전망수입 대 저축률: 6870 의 예상 수익 증가율이 절약률(1.3%)보다 높은지 판단하기에는 데이터가 부족합니다.수익 vs 시장: 6870 의 수익이 TW 시장보다 빠르게 성장할 것으로 예상되는지 판단하기에는 데이터가 부족합니다.고성장 수익: 6870 의 수익이 향후 3년 동안 상당히 증가할 것으로 예상되는지 판단하기에는 데이터가 부족합니다.수익 대 시장: 6870 의 수익이 TW 시장보다 빠르게 증가할 것으로 예상되는지 판단하기에는 데이터가 부족합니다.고성장 매출: 6870 의 수익이 연간 20%보다 빠르게 증가할 것으로 예상되는지 판단하기에는 데이터가 부족합니다.주당순이익 성장 예측향후 자기자본이익률미래 ROE: 6870의 자본 수익률이 3년 후 높을 것으로 예상되는지 판단하기에 데이터가 부족합니다.성장 기업 찾아보기7D1Y7D1Y7D1YSoftware 산업의 고성장 기업.View Past Performance기업 분석 및 재무 데이터 상태데이터최종 업데이트 (UTC 시간)기업 분석2026/05/14 08:32종가2026/05/14 00:00수익2025/12/31연간 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 소스Turn Cloud Technology Service Inc.는 1명의 분석가가 다루고 있습니다. 이 중 1명의 분석가가 우리 보고서에 입력 데이터로 사용되는 매출 또는 수익 추정치를 제출했습니다. 분석가의 제출 자료는 하루 종일 업데이트됩니다.분석가기관Yiru ChenMasterlink Securities Investment Advisory
Price Target Changed • Jan 21Price target increased by 16% to NT$306Up from NT$263, the current price target is provided by 1 analyst. New target price is 55% above last closing price of NT$198. Stock is down 7.6% over the past year. The company posted earnings per share of NT$4.94 last year.
Reported Earnings • Mar 14Full year 2025 earnings released: EPS: NT$7.08 (vs NT$4.95 in FY 2024)Full year 2025 results: EPS: NT$7.08 (up from NT$4.95 in FY 2024). Revenue: NT$804.3m (up 20% from FY 2024). Net income: NT$165.4m (up 43% from FY 2024). Profit margin: 21% (up from 17% 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 26% per year whereas the company’s share price has increased by 23% per year.
공시 • Mar 12Turn Cloud Technology Service Inc., Annual General Meeting, May 28, 2026Turn Cloud Technology Service Inc., Annual General Meeting, May 28, 2026. Location: 23- floor building. d no,93, sec.1 hsin t`ai 5th rd., sijhih district, new taipei city Taiwan
Price Target Changed • Jan 21Price target increased by 16% to NT$306Up from NT$263, the current price target is provided by 1 analyst. New target price is 55% above last closing price of NT$198. Stock is down 7.6% over the past year. The company posted earnings per share of NT$4.94 last year.
Valuation Update With 7 Day Price Move • Dec 12Investor sentiment improves as stock rises 15%After last week's 15% share price gain to NT$218, the stock trades at a trailing P/E ratio of 32.4x. Average forward P/E is 31x in the Software industry in Taiwan. Total returns to shareholders of 105% over the past three years.
Reported Earnings • Nov 18Third quarter 2025 earnings released: EPS: NT$2.91 (vs NT$1.27 in 3Q 2024)Third quarter 2025 results: EPS: NT$2.91 (up from NT$1.27 in 3Q 2024). Revenue: NT$229.2m (up 26% from 3Q 2024). Net income: NT$68.0m (up 129% from 3Q 2024). Profit margin: 30% (up from 16% in 3Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has increased by 29% per year, which means it is tracking significantly ahead of earnings growth.
Valuation Update With 7 Day Price Move • Sep 21Investor sentiment improves as stock rises 22%After last week's 22% share price gain to NT$248, the stock trades at a trailing P/E ratio of 48.8x. Average forward P/E is 35x in the Software industry in Taiwan. Total returns to shareholders of 142% over the past three years.
Reported Earnings • Aug 17Second quarter 2025 earnings released: EPS: NT$0.84 (vs NT$0.82 in 2Q 2024)Second quarter 2025 results: EPS: NT$0.84 (up from NT$0.82 in 2Q 2024). Revenue: NT$163.0m (up 13% from 2Q 2024). Net income: NT$19.3m (up 3.2% from 2Q 2024). Profit margin: 12% (down from 13% in 2Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 18% per year whereas the company’s share price has increased by 17% per year.
Upcoming Dividend • Jun 25Upcoming dividend of NT$4.30 per shareEligible shareholders must have bought the stock before 02 July 2025. Payment date: 21 July 2025. Payout ratio is on the higher end at 84% but the company is not cash flow positive. Trailing yield: 2.1%. Lower than top quartile of Taiwanese dividend payers (5.3%). Lower than average of industry peers (2.9%).
Valuation Update With 7 Day Price Move • Jun 11Investor sentiment improves as stock rises 19%After last week's 19% share price gain to NT$200, the stock trades at a trailing P/E ratio of 38.9x. Average forward P/E is 33x in the Software industry in Taiwan. Total returns to shareholders of 49% over the past three years.
Reported Earnings • May 15First quarter 2025 earnings released: EPS: NT$0.66 (vs NT$0.56 in 1Q 2024)First quarter 2025 results: EPS: NT$0.66 (up from NT$0.56 in 1Q 2024). Revenue: NT$155.2m (up 21% from 1Q 2024). Net income: NT$15.0m (up 18% from 1Q 2024). Profit margin: 9.7% (in line with 1Q 2024). Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth.
Buy Or Sell Opportunity • Apr 09Now 21% undervalued after recent price dropOver the last 90 days, the stock has fallen 29% to NT$153. The fair value is estimated to be NT$193, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Earnings per share has grown by 17%.
Reported Earnings • Mar 20Full year 2024 earnings released: EPS: NT$5.04 (vs NT$3.81 in FY 2023)Full year 2024 results: EPS: NT$5.04 (up from NT$3.81 in FY 2023). Revenue: NT$668.5m (up 24% from FY 2023). Net income: NT$115.4m (up 42% from FY 2023). Profit margin: 17% (up from 15% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth.
공시 • Mar 14Turn Cloud Technology Service Inc., Annual General Meeting, Jun 06, 2025Turn Cloud Technology Service Inc., Annual General Meeting, Jun 06, 2025, at 10:00 Taipei Standard Time. Location: 23- floor building. d no,93, sec.1 hsin t`ai 5th rd., sijhih district, new taipei city Taiwan
New Risk • Mar 13New minor risk - Dividend sustainabilityThe dividend is not well covered by cash flows. The company is paying a dividend despite having no free cash flows. Dividend yield: 1.7% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (21% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (7.8% average weekly change).
New Risk • Jan 31New 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 7.8% 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 Risks Share price has been highly volatile over the past 3 months (7.8% average weekly change). High level of non-cash earnings (21% accrual ratio).
Valuation Update With 7 Day Price Move • Nov 28Investor sentiment deteriorates as stock falls 15%After last week's 15% share price decline to NT$226, the stock trades at a trailing P/E ratio of 62.6x. Average forward P/E is 32x in the Software industry in Taiwan. Total returns to shareholders of 126% over the past three years.
New Risk • Nov 17New major risk - Earnings qualityThe company has a high level of non-cash earnings. Accrual ratio: 22% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. This is currently the only risk that has been identified for the company.
Reported Earnings • Aug 18Second quarter 2024 earnings released: EPS: NT$0.86 (vs NT$1.11 in 2Q 2023)Second quarter 2024 results: EPS: NT$0.86 (down from NT$1.11 in 2Q 2023). Revenue: NT$144.2m (up 6.6% from 2Q 2023). Net income: NT$18.7m (down 14% from 2Q 2023). Profit margin: 13% (down from 16% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 34% p.a. on average during the next 2 years, compared to a 19% growth forecast for the Software industry in Taiwan.
Buy Or Sell Opportunity • Aug 02Now 24% undervaluedOver the last 90 days, the stock has risen 59% to NT$208. The fair value is estimated to be NT$272, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Earnings per share has grown by 20%.
Valuation Update With 7 Day Price Move • Jul 07Investor sentiment improves as stock rises 18%After last week's 18% share price gain to NT$234, the stock trades at a trailing P/E ratio of 60.3x. Average forward P/E is 25x in the Software industry in Taiwan. Total returns to shareholders of 36% over the past year.
New Risk • Jun 21New 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 6.7% 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. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (6.7% average weekly change). Shareholders have been diluted in the past year (11% increase in shares outstanding).
Valuation Update With 7 Day Price Move • Jun 21Investor sentiment improves as stock rises 20%After last week's 20% share price gain to NT$194, the stock trades at a trailing P/E ratio of 49.9x. Average forward P/E is 24x in the Software industry in Taiwan. Total returns to shareholders of 38% over the past year.
Upcoming Dividend • Jun 17Upcoming dividend of NT$3.30 per shareEligible shareholders must have bought the stock before 24 June 2024. Payment date: 15 July 2024. Payout ratio and cash payout ratio are on the higher end at 81% and 76% respectively. Trailing yield: 2.0%. Lower than top quartile of Taiwanese dividend payers (4.2%). In line with average of industry peers (2.2%).
Buy Or Sell Opportunity • May 08Now 30% overvalued after recent price riseOver the last 90 days, the stock has risen 4.2% to NT$150. The fair value is estimated to be NT$116, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years. Earnings per share has grown by 25%.
Reported Earnings • Mar 17Full year 2023 earnings released: EPS: NT$4.00 (vs NT$3.46 in FY 2022)Full year 2023 results: EPS: NT$4.00 (up from NT$3.46 in FY 2022). Revenue: NT$538.9m (up 16% from FY 2022). Net income: NT$81.1m (up 27% from FY 2022). Profit margin: 15% (up from 14% in FY 2022). The increase in margin was driven by higher revenue.
공시 • Mar 15Turn Cloud Technology Service Inc., Annual General Meeting, Jun 06, 2024Turn Cloud Technology Service Inc., Annual General Meeting, Jun 06, 2024.
New Risk • Feb 03New minor risk - Market cap sizeThe company's market capitalization is less than US$100m. Market cap: NT$3.14b (US$100.0m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (112% cash payout ratio). Shareholders have been diluted in the past year (11% increase in shares outstanding). Market cap is less than US$100m (NT$3.14b market cap, or US$100.0m).
New Risk • Nov 27New 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 5.8% 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: Minor Risks Share price has been volatile over the past 3 months (5.8% average weekly change). Shareholders have been diluted in the past year (11% increase in shares outstanding).
Reported Earnings • Nov 15Third quarter 2023 earnings: EPS and revenues miss analyst expectationsThird quarter 2023 results: EPS: NT$1.44 (up from NT$1.10 in 3Q 2022). Revenue: NT$147.2m (up 15% from 3Q 2022). Net income: NT$28.8m (up 34% from 3Q 2022). Profit margin: 20% (up from 17% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 62%. Earnings per share (EPS) also missed analyst estimates by 68%. Revenue is forecast to grow 62% p.a. on average during the next 2 years, compared to a 21% growth forecast for the Software industry in Asia.
Valuation Update With 7 Day Price Move • Jun 29Investor sentiment improves as stock rises 20%After last week's 20% share price gain to NT$173, the stock trades at a trailing P/E ratio of 47x. Average trailing P/E is 25x in the Software industry in Taiwan. Total returns to shareholders of 18% over the past year.
Upcoming Dividend • Jun 21Upcoming dividend of NT$3.00 per share at 2.1% yieldEligible shareholders must have bought the stock before 28 June 2023. Payment date: 21 July 2023. Payout ratio is on the higher end at 79% but the company is not cash flow positive. Trailing yield: 2.1%. Lower than top quartile of Taiwanese dividend payers (5.5%). Lower than average of industry peers (2.5%).
Reported Earnings • Apr 25Third quarter 2022 earnings released: EPS: NT$1.10 (vs NT$0.77 in 3Q 2021)Third quarter 2022 results: EPS: NT$1.10 (up from NT$0.77 in 3Q 2021). Revenue: NT$128.4m (up 29% from 3Q 2021). Net income: NT$21.4m (up 57% from 3Q 2021). Profit margin: 17% (up from 14% in 3Q 2021). The increase in margin was driven by higher revenue.
Valuation Update With 7 Day Price Move • Dec 09Investor sentiment improved over the past weekAfter last week's 17% share price gain to NT$122, the stock trades at a trailing P/E ratio of 49.3x. Average trailing P/E is 14x in the Software industry in Taiwan. Total returns to shareholders of 15% over the past year.
공시 • Apr 16Turn Cloud Technology Service Inc., Annual General Meeting, Jun 30, 2022Turn Cloud Technology Service Inc., Annual General Meeting, Jun 30, 2022.