Valuation Update With 7 Day Price Move • Dec 21
Investor sentiment deteriorated over the past week After last week's 18% share price decline to NT$26.40, the stock trades at a trailing P/E ratio of 13.6x. Average trailing P/E is 11x in the Electronic industry in Taiwan. Total returns to shareholders of 131% over the past three years. Valuation Update With 7 Day Price Move • Nov 10
Investor sentiment improved over the past week After last week's 16% share price gain to NT$31.50, the stock trades at a trailing P/E ratio of 16.2x. Average trailing P/E is 11x in the Electronic industry in Taiwan. Total returns to shareholders of 175% over the past three years. Reported Earnings • Jul 25
First half 2022 earnings released First half 2022 results: Revenue: (down 100% from 1H 2021). Net income: (down NT$216.3m from profit in 1H 2021). Profit margin: (down from 9.7% in 1H 2021). The decrease in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 64% per year but the company’s share price has only increased by 45% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jul 21
Investor sentiment improved over the past week After last week's 18% share price gain to NT$37.80, the stock trades at a trailing P/E ratio of 19x. Average trailing P/E is 13x in the Electronic industry in Taiwan. Total returns to shareholders of 224% over the past three years. Upcoming Dividend • Jun 17
Upcoming dividend of NT$1.00 per share Eligible shareholders must have bought the stock before 24 June 2022. Payment date: 20 July 2022. Payout ratio is a comfortable 49% and this is well supported by cash flows. Trailing yield: 2.9%. Lower than top quartile of Taiwanese dividend payers (6.1%). Lower than average of industry peers (4.4%). Valuation Update With 7 Day Price Move • Jun 16
Investor sentiment deteriorated over the past week After last week's 20% share price decline to NT$35.05, the stock trades at a trailing P/E ratio of 17.5x. Average trailing P/E is 14x in the Electronic industry in Taiwan. Total returns to shareholders of 179% over the past three years. Reported Earnings • Feb 24
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: NT$2.03 (up from NT$0.72 in FY 2020). Revenue: NT$4.82b (up 24% from FY 2020). Net income: NT$593.9m (up 187% from FY 2020). Profit margin: 12% (up from 5.3% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 53% per year but the company’s share price has increased by 72% per year, which means it is tracking significantly ahead of earnings growth. 공고 • Feb 24
Subtron Technology Co., Ltd, Annual General Meeting, May 11, 2022 Subtron Technology Co., Ltd, Annual General Meeting, May 11, 2022. Valuation Update With 7 Day Price Move • Feb 24
Investor sentiment improved over the past week After last week's 32% share price gain to NT$49.65, the stock trades at a trailing P/E ratio of 36.3x. Average trailing P/E is 19x in the Electronic industry in Taiwan. Total returns to shareholders of 433% over the past three years. Valuation Update With 7 Day Price Move • Aug 27
Investor sentiment improved over the past week After last week's 19% share price gain to NT$29.70, the stock trades at a trailing P/E ratio of 21.6x. Average trailing P/E is 16x in the Electronic industry in Taiwan. Total returns to shareholders of 246% over the past three years. Valuation Update With 7 Day Price Move • Aug 09
Investor sentiment improved over the past week After last week's 20% share price gain to NT$28.10, the stock trades at a trailing P/E ratio of 20.6x. Average trailing P/E is 18x in the Electronic industry in Taiwan. Total returns to shareholders of 237% over the past three years. Reported Earnings • Jul 26
First half 2021 earnings released: EPS NT$0.74 (vs NT$0.078 in 1H 2020) The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: NT$2.23b (up 21% from 1H 2020). Net income: NT$216.3m (up NT$193.9m from 1H 2020). Profit margin: 9.7% (up from 1.2% in 1H 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has increased by 37% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Jun 08
Upcoming dividend of NT$0.36 per share Eligible shareholders must have bought the stock before 15 June 2021. Payment date: 16 July 2021. Trailing yield: 1.8%. Lower than top quartile of Taiwanese dividend payers (5.0%). Lower than average of industry peers (3.1%). Valuation Update With 7 Day Price Move • May 14
Investor sentiment deteriorated over the past week After last week's 16% share price decline to NT$18.15, the stock trades at a trailing P/E ratio of 25.2x. Average trailing P/E is 17x in the Electronic industry in Taiwan. Total returns to shareholders of 100% over the past three years. Reported Earnings • Mar 13
Full year 2020 earnings released: EPS NT$0.72 (vs NT$0.36 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$3.88b (up 16% from FY 2019). Net income: NT$206.7m (up 104% from FY 2019). Profit margin: 5.3% (up from 3.0% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 37% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Feb 20
Investor sentiment improved over the past week After last week's 30% share price gain to NT$18.40, the stock is trading at a trailing P/E ratio of 25.6x, up from the previous P/E ratio of 19.7x. This compares to an average P/E of 19x in the Electronic industry in Taiwan. Total returns to shareholders over the past three years are 147%. Is New 90 Day High Low • Feb 20
New 90-day high: NT$18.40 The company is up 49% from its price of NT$12.35 on 20 November 2020. The Taiwanese market is up 18% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is up 24% over the same period. 공고 • Feb 06
Subtron Technology Co., Ltd, Annual General Meeting, May 12, 2021 Subtron Technology Co., Ltd, Annual General Meeting, May 12, 2021. Reported Earnings • Feb 05
Full year 2020 earnings released: EPS NT$0.72 (vs NT$0.36 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$3.88b (up 16% from FY 2019). Net income: NT$206.7m (up 104% from FY 2019). Profit margin: 5.3% (up from 3.0% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 20% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Jan 01
New 90-day high: NT$14.80 The company is up 24% from its price of NT$11.90 on 30 September 2020. The Taiwanese market is up 17% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is up 17% over the same period. Is New 90 Day High Low • Nov 25
New 90-day high: NT$13.00 The company is up 8.0% from its price of NT$12.05 on 27 August 2020. The Taiwanese market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is up 5.0% over the same period. Is New 90 Day High Low • Oct 30
New 90-day high: NT$12.45 The company is up 6.0% from its price of NT$11.80 on 31 July 2020. The Taiwanese market is flat over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is down 3.0% over the same period.