View Financial HealthIn Win Development 배당 및 자사주 매입배당 기준 점검 2/6In Win Development 은(는) 현재 수익률이 7.77% 인 배당금 지급 회사입니다.핵심 정보7.8%배당 수익률n/a자사주 매입 수익률총 주주 수익률n/a미래 배당 수익률n/a배당 성장률15.1%다음 배당 지급일n/a배당락일n/a주당 배당금n/a배당 성향129%최근 배당 및 자사주 매입 업데이트Upcoming Dividend • Aug 08Upcoming dividend of NT$2.17 per shareEligible shareholders must have bought the stock before 15 August 2025. Payment date: 29 August 2025. Payout ratio is a comfortable 64% but the company is paying out more than the cash it is generating. Trailing yield: 2.3%. Lower than top quartile of Taiwanese dividend payers (5.3%). Lower than average of industry peers (3.6%).모든 업데이트 보기Recent updatesNew Risk • Jun 03New major risk - Dividend sustainabilityThe dividend is not well covered by earnings and cash flows. Payout ratio: 158% The company is paying a dividend despite having no free cash flows. Dividend yield: 6.8% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 158% Paying a dividend despite having no free cash flows. High level of non-cash earnings (21% accrual ratio). Minor Risk High level of debt (61% net debt to equity).Valuation Update With 7 Day Price Move • May 25Investor sentiment improves as stock rises 15%After last week's 15% share price gain to NT$91.90, the stock trades at a trailing P/E ratio of 20x. Average trailing P/E is 22x in the Tech industry in Taiwan. Total returns to shareholders of 521% over the past three years.Reported Earnings • May 19First quarter 2026 earnings released: EPS: NT$1.33 (vs NT$0.48 in 1Q 2025)First quarter 2026 results: EPS: NT$1.33 (up from NT$0.48 in 1Q 2025). Revenue: NT$839.4m (up 21% from 1Q 2025). Net income: NT$123.0m (up 183% from 1Q 2025). Profit margin: 15% (up from 6.3% in 1Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has increased by 76% per year, which means it is tracking significantly ahead of earnings growth.Valuation Update With 7 Day Price Move • Apr 13Investor sentiment improves as stock rises 17%After last week's 17% share price gain to NT$81.40, the stock trades at a trailing P/E ratio of 21.8x. Average trailing P/E is 22x in the Tech industry in Taiwan. Total returns to shareholders of 463% over the past three years.New Risk • Apr 01New major risk - Earnings qualityThe company has a high level of non-cash earnings. Accrual ratio: 20% 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. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (20% accrual ratio). Minor Risks High level of debt (60% net debt to equity). Paying a dividend despite having no free cash flows.공시 • Mar 13In Win Development Inc., Annual General Meeting, Jun 23, 2026In Win Development Inc., Annual General Meeting, Jun 23, 2026. Location: no,108, sec.1 nan k`an rd., lujhu district, taoyuan city TaiwanReported Earnings • Mar 13Full year 2025 earnings released: EPS: NT$3.77 (vs NT$4.12 in FY 2024)Full year 2025 results: EPS: NT$3.77 (down from NT$4.12 in FY 2024). Revenue: NT$3.22b (up 12% from FY 2024). Net income: NT$346.0m (down 6.1% from FY 2024). Profit margin: 11% (down from 13% in FY 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 59% per year but the company’s share price has increased by 70% per year, which means it is tracking significantly ahead of earnings growth.Reported Earnings • Nov 17Third quarter 2025 earnings released: EPS: NT$1.36 (vs NT$0.84 in 3Q 2024)Third quarter 2025 results: EPS: NT$1.36 (up from NT$0.84 in 3Q 2024). Revenue: NT$861.1m (up 27% from 3Q 2024). Net income: NT$125.6m (up 69% from 3Q 2024). Profit margin: 15% (up from 11% 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 70% per year but the company’s share price has increased by 78% per year, which means it is tracking significantly ahead of earnings growth.Reported Earnings • Aug 17Second quarter 2025 earnings released: EPS: NT$0.37 (vs NT$1.03 in 2Q 2024)Second quarter 2025 results: EPS: NT$0.37 (down from NT$1.03 in 2Q 2024). Revenue: NT$837.0m (up 11% from 2Q 2024). Net income: NT$33.5m (down 63% from 2Q 2024). Profit margin: 4.0% (down from 12% 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 86% per year but the company’s share price has only increased by 67% per year, which means it is significantly lagging earnings growth.Upcoming Dividend • Aug 08Upcoming dividend of NT$2.17 per shareEligible shareholders must have bought the stock before 15 August 2025. Payment date: 29 August 2025. Payout ratio is a comfortable 64% but the company is paying out more than the cash it is generating. Trailing yield: 2.3%. Lower than top quartile of Taiwanese dividend payers (5.3%). Lower than average of industry peers (3.6%).New Risk • May 30New minor risk - Dividend sustainabilityThe dividend is not well covered by cash flows. Cash payout ratio: 141% Dividend yield: 2.3% 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 Share price has been highly volatile over the past 3 months (12% average weekly change). Minor Risk Dividend is not well covered by cash flows (141% cash payout ratio).Reported Earnings • May 15First quarter 2025 earnings released: EPS: NT$0.48 (vs NT$1.15 in 1Q 2024)First quarter 2025 results: EPS: NT$0.48 (down from NT$1.15 in 1Q 2024). Revenue: NT$692.8m (down 3.4% from 1Q 2024). Net income: NT$43.5m (down 57% from 1Q 2024). Profit margin: 6.3% (down from 14% in 1Q 2024). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 105% per year but the company’s share price has only increased by 81% per year, which means it is significantly lagging earnings growth.Valuation Update With 7 Day Price Move • May 14Investor sentiment improves as stock rises 19%After last week's 19% share price gain to NT$92.50, the stock trades at a trailing P/E ratio of 22.9x. Average trailing P/E is 19x in the Tech industry in Taiwan. Total returns to shareholders of 497% over the past three years.Buy Or Sell Opportunity • May 13Now 21% overvaluedOver the last 90 days, the stock has fallen 3.1% to NT$84.10. The fair value is estimated to be NT$69.48, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 7.2% over the last 3 years. Meanwhile, the company has become profitable.공시 • May 01In Win Development Inc. to Report Q1, 2025 Results on May 08, 2025In Win Development Inc. announced that they will report Q1, 2025 results on May 08, 2025Buy Or Sell Opportunity • Apr 04Now 22% overvaluedOver the last 90 days, the stock has fallen 5.7% to NT$86.40. The fair value is estimated to be NT$70.92, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 7.2% over the last 3 years. Meanwhile, the company has become profitable.Valuation Update With 7 Day Price Move • Apr 02Investor sentiment deteriorates as stock falls 16%After last week's 16% share price decline to NT$86.40, the stock trades at a trailing P/E ratio of 21.2x. Average trailing P/E is 19x in the Tech industry in Taiwan. Total returns to shareholders of 443% over the past three years.분석 기사 • Mar 30In Win Development (TWSE:6117) Is Doing The Right Things To Multiply Its Share PriceIf we want to find a potential multi-bagger, often there are underlying trends that can provide clues. Typically, we'll...Valuation Update With 7 Day Price Move • Mar 19Investor sentiment improves as stock rises 23%After last week's 23% share price gain to NT$111, the stock trades at a trailing P/E ratio of 27.3x. Average trailing P/E is 20x in the Tech industry in Taiwan. Total returns to shareholders of 603% over the past three years.Reported Earnings • Mar 14Full year 2024 earnings released: EPS: NT$4.12 (vs NT$1.02 in FY 2023)Full year 2024 results: EPS: NT$4.12 (up from NT$1.02 in FY 2023). Revenue: NT$2.88b (up 22% from FY 2023). Net income: NT$368.4m (up 307% from FY 2023). Profit margin: 13% (up from 3.8% 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 119% per year but the company’s share price has only increased by 83% per year, which means it is significantly lagging earnings growth.New Risk • Mar 11New 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 6.3% 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 High level of debt (42% net debt to equity). Share price has been volatile over the past 3 months (6.3% average weekly change).공시 • Mar 07In Win Development Inc., Annual General Meeting, Jun 19, 2025In Win Development Inc., Annual General Meeting, Jun 19, 2025. Location: no,108, sec.1 nan k`an rd., lujhu district, taoyuan city Taiwan분석 기사 • Mar 07Risks To Shareholder Returns Are Elevated At These Prices For In Win Development Inc. (TWSE:6117)When you see that almost half of the companies in the Tech industry in Taiwan have price-to-sales ratios (or "P/S...Reported Earnings • Nov 18Third quarter 2024 earnings released: EPS: NT$0.84 (vs NT$0.71 in 3Q 2023)Third quarter 2024 results: EPS: NT$0.84 (up from NT$0.71 in 3Q 2023). Revenue: NT$678.6m (up 3.9% from 3Q 2023). Net income: NT$74.4m (up 18% from 3Q 2023). Profit margin: 11% (up from 9.6% in 3Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 128% per year but the company’s share price has only increased by 75% per year, which means it is significantly lagging earnings growth.분석 기사 • Nov 14In Win Development (TWSE:6117) Is Looking To Continue Growing Its Returns On CapitalIf we want to find a stock that could multiply over the long term, what are the underlying trends we should look for...공시 • Oct 30In Win Development Inc. to Report Q3, 2024 Results on Nov 08, 2024In Win Development Inc. announced that they will report Q3, 2024 results on Nov 08, 2024분석 기사 • Oct 14What In Win Development Inc.'s (TWSE:6117) P/S Is Not Telling YouWhen you see that almost half of the companies in the Tech industry in Taiwan have price-to-sales ratios (or "P/S...분석 기사 • Sep 23Do In Win Development's (TWSE:6117) Earnings Warrant Your Attention?Investors are often guided by the idea of discovering 'the next big thing', even if that means buying 'story stocks...Reported Earnings • Aug 17Second quarter 2024 earnings released: EPS: NT$1.03 (vs NT$0.081 loss in 2Q 2023)Second quarter 2024 results: EPS: NT$1.03 (up from NT$0.081 loss in 2Q 2023). Revenue: NT$757.2m (up 43% from 2Q 2023). Net income: NT$91.2m (up NT$98.4m from 2Q 2023). Profit margin: 12% (up from net loss in 2Q 2023). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 130% per year but the company’s share price has only increased by 89% per year, which means it is significantly lagging earnings growth.Valuation Update With 7 Day Price Move • Aug 06Investor sentiment deteriorates as stock falls 18%After last week's 18% share price decline to NT$94.10, the stock trades at a trailing P/E ratio of 35.2x. Average trailing P/E is 20x in the Tech industry in Taiwan. Total returns to shareholders of 467% over the past three years.공시 • Aug 02In Win Development Inc. to Report Q2, 2024 Results on Aug 08, 2024In Win Development Inc. announced that they will report Q2, 2024 results on Aug 08, 2024공시 • Jun 14+ 2 more updatesIn Win Development Inc. Announces Changes to its BoardIn Win Development Inc. announced change of independent directors. Title and name of the previous position holder: Independent Directors: Su Yu Hui. Resume of the previous position holder: Su Yu Hui, Professor of Department of Accounting, Soochow University. Title and name of the new position holders: Independent Directors: Hung Sheng Min and Huang Yu Hui. Resume of the new position holder: Hung Sheng Min, Professor of Department of Accounting, Soochow University. Huang Yu Hui, Accounting Officer of Taiwan GlassInd. Corp., Circumstances of change: Term expired. Original term August 25, 2021 to August 24, 2024. Effective date of the new appointment: June 12, 2024.분석 기사 • Jun 12In Win Development (TWSE:6117) Shareholders Will Want The ROCE Trajectory To ContinueIf we want to find a stock that could multiply over the long term, what are the underlying trends we should look for...Valuation Update With 7 Day Price Move • Jun 10Investor sentiment deteriorates as stock falls 15%After last week's 15% share price decline to NT$134, the stock trades at a trailing P/E ratio of 50x. Average trailing P/E is 23x in the Tech industry in Taiwan. Total returns to shareholders of 756% over the past three years.Buy Or Sell Opportunity • Jun 05Now 23% undervaluedOver the last 90 days, the stock has risen 87% to NT$147. The fair value is estimated to be NT$190, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company has become profitable.Valuation Update With 7 Day Price Move • May 22Investor sentiment improves as stock rises 25%After last week's 25% share price gain to NT$110, the stock trades at a trailing P/E ratio of 41.2x. Average trailing P/E is 23x in the Tech industry in Taiwan. Total returns to shareholders of 583% over the past three years.분석 기사 • May 22What In Win Development Inc.'s (TWSE:6117) 31% Share Price Gain Is Not Telling YouIn Win Development Inc. ( TWSE:6117 ) shareholders have had their patience rewarded with a 31% share price jump in the...Reported Earnings • May 19First quarter 2024 earnings released: EPS: NT$1.15 (vs NT$0.49 loss in 1Q 2023)First quarter 2024 results: EPS: NT$1.15 (up from NT$0.49 loss in 1Q 2023). Revenue: NT$717.0m (up 54% from 1Q 2023). Net income: NT$102.3m (up NT$146.1m from 1Q 2023). Profit margin: 14% (up from net loss in 1Q 2023). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 120% per year but the company’s share price has only increased by 80% per year, which means it is significantly lagging earnings growth.공시 • May 01In Win Development Inc. to Report Q1, 2024 Results on May 10, 2024In Win Development Inc. announced that they will report Q1, 2024 results at 9:00 AM, Taipei Standard Time on May 10, 2024Buy Or Sell Opportunity • Apr 22Now 23% undervalued after recent price dropOver the last 90 days, the stock has fallen 1.9% to NT$76.10. The fair value is estimated to be NT$98.64, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company has become profitable.Valuation Update With 7 Day Price Move • Apr 16Investor sentiment deteriorates as stock falls 25%After last week's 25% share price decline to NT$81.10, the stock trades at a trailing P/E ratio of 79.3x. Average trailing P/E is 24x in the Tech industry in Taiwan. Total returns to shareholders of 392% over the past three years.분석 기사 • Apr 09Estimating The Intrinsic Value Of In Win Development Inc. (TWSE:6117)Key Insights In Win Development's estimated fair value is NT$102 based on 2 Stage Free Cash Flow to Equity Current...공시 • Mar 22In Win Development Inc., Annual General Meeting, Jun 12, 2024In Win Development Inc., Annual General Meeting, Jun 12, 2024.분석 기사 • Mar 21Why In Win Development's (TWSE:6117) Earnings Are Better Than They SeemThe market seemed underwhelmed by last week's earnings announcement from In Win Development Inc. ( TWSE:6117 ) despite...Reported Earnings • Mar 16Full year 2023 earnings released: EPS: NT$1.02 (vs NT$0.62 in FY 2022)Full year 2023 results: EPS: NT$1.02 (up from NT$0.62 in FY 2022). Revenue: NT$2.37b (down 1.2% from FY 2022). Net income: NT$90.6m (up 66% from FY 2022). Profit margin: 3.8% (up from 2.3% 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 99% per year but the company’s share price has only increased by 71% per year, which means it is significantly lagging earnings growth.분석 기사 • Mar 05Revenues Not Telling The Story For In Win Development Inc. (TWSE:6117)When close to half the companies in the Tech industry in Taiwan have price-to-sales ratios (or "P/S") below 1.8x, you...New Risk • Nov 30New minor risk - Earnings qualityThe company has large one-off items impacting its financial results. One-off items were 76% 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: Major Risks Interest payments are not well covered by earnings (0.6x net interest cover). Share price has been highly volatile over the past 3 months (13% average weekly change). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.2% net profit margin).Reported Earnings • Nov 14Third quarter 2023 earnings released: EPS: NT$0.71 (vs NT$0.75 in 3Q 2022)Third quarter 2023 results: EPS: NT$0.71 (down from NT$0.75 in 3Q 2022). Revenue: NT$653.0m (up 2.7% from 3Q 2022). Net income: NT$63.0m (down 4.8% from 3Q 2022). Profit margin: 9.6% (in line with 3Q 2022). Over the last 3 years on average, earnings per share has increased by 77% per year but the company’s share price has only increased by 48% per year, which means it is significantly lagging earnings growth.Reported Earnings • Aug 12Second quarter 2023 earnings released: NT$0.08 loss per share (vs NT$0.20 profit in 2Q 2022)Second quarter 2023 results: NT$0.08 loss per share (down from NT$0.20 profit in 2Q 2022). Revenue: NT$529.7m (down 13% from 2Q 2022). Net loss: NT$7.19m (down 141% from profit in 2Q 2022). Over the last 3 years on average, earnings per share has increased by 65% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth.Valuation Update With 7 Day Price Move • Jul 26Investor sentiment improves as stock rises 24%After last week's 24% share price gain to NT$27.70, the stock trades at a trailing P/E ratio of 74.1x. Average trailing P/E is 23x in the Tech industry in Taiwan. Total returns to shareholders of 56% over the past three years.New Risk • Jul 05New 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 6.2% 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 Interest payments are not well covered by earnings (0.4x net interest cover). Minor Risks Share price has been volatile over the past 3 months (6.2% average weekly change). Market cap is less than US$100m (NT$1.84b market cap, or US$59.0m).Valuation Update With 7 Day Price Move • Jul 04Investor sentiment improves as stock rises 25%After last week's 25% share price gain to NT$20.75, the stock trades at a trailing P/E ratio of 55.5x. Average trailing P/E is 20x in the Tech industry in Taiwan. Total returns to shareholders of 3.8% over the past three years.Reported Earnings • Mar 31Full year 2022 earnings released: EPS: NT$0.62 (vs NT$0.98 loss in FY 2021)Full year 2022 results: EPS: NT$0.62 (up from NT$0.98 loss in FY 2021). Revenue: NT$2.40b (up 3.7% from FY 2021). Net income: NT$54.7m (up NT$141.8m from FY 2021). Profit margin: 2.3% (up from net loss in FY 2021). The move to profitability was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth.Board Change • Nov 16Less than half of directors are independentNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. 1 independent director (4 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.Reported Earnings • Aug 15Second quarter 2022 earnings released: EPS: NT$0.20 (vs NT$0.23 loss in 2Q 2021)Second quarter 2022 results: EPS: NT$0.20 (up from NT$0.23 loss in 2Q 2021). Revenue: NT$611.4m (up 5.5% from 2Q 2021). Net income: NT$17.8m (up NT$38.5m from 2Q 2021). Profit margin: 2.9% (up from net loss in 2Q 2021). The move to profitability was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth.Reported Earnings • May 16First quarter 2022 earnings released: NT$0.25 loss per share (vs NT$0.32 loss in 1Q 2021)First quarter 2022 results: NT$0.25 loss per share (up from NT$0.32 loss in 1Q 2021). Revenue: NT$609.6m (up 13% from 1Q 2021). Net loss: NT$22.3m (loss narrowed 20% from 1Q 2021). Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth.Board Change • Apr 27Less than half of directors are independentNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. 1 independent director (4 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.Reported Earnings • Apr 01Full year 2021 earnings released: NT$0.98 loss per share (vs NT$0.86 loss in FY 2020)Full year 2021 results: NT$0.98 loss per share (down from NT$0.86 loss in FY 2020). Revenue: NT$2.31b (up 4.9% from FY 2020). Net loss: NT$87.1m (loss widened 14% from FY 2020). Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth.Reported Earnings • Nov 12Third quarter 2021 earnings released: EPS NT$0.13 (vs NT$0.15 loss in 3Q 2020)The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$630.0m (up 3.5% from 3Q 2020). Net income: NT$11.9m (up NT$25.6m from 3Q 2020). Profit margin: 1.9% (up from net loss in 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has increased by 12% per year, which means it is well ahead of earnings.Reported Earnings • Aug 15Second quarter 2021 earnings released: NT$0.23 loss per share (vs NT$0.059 loss in 2Q 2020)The company reported a poor second quarter result with increased losses, weaker revenues and weaker control over costs. Second quarter 2021 results: Revenue: NT$579.6m (down 2.5% from 2Q 2020). Net loss: NT$20.7m (loss widened 294% from 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 45% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings.Reported Earnings • May 14First quarter 2021 earnings released: NT$0.32 loss per share (vs NT$0.11 loss in 1Q 2020)The company reported a soft first quarter result with increased losses and weaker control over costs, although revenues improved. First quarter 2021 results: Revenue: NT$540.7m (up 3.7% from 1Q 2020). Net loss: NT$28.0m (loss widened 190% from 1Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 63 percentage points per year, which is a significant difference in performance.분석 기사 • Apr 20In Win Development (TPE:6117) Is Carrying A Fair Bit Of DebtWarren Buffett famously said, 'Volatility is far from synonymous with risk.' When we think about how risky a company...Reported Earnings • Mar 26Full year 2020 earnings released: NT$0.86 loss per share (vs NT$1.73 loss in FY 2019)The company reported a solid full year result with reduced losses, improved revenues and improved control over expenses. Full year 2020 results: Revenue: NT$2.20b (up 6.9% from FY 2019). Net loss: NT$76.4m (loss narrowed 50% from FY 2019). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 68 percentage points per year, which is a significant difference in performance.분석 기사 • Feb 23Did In Win Development's (TPE:6117) Share Price Deserve to Gain 15%?When you buy and hold a stock for the long term, you definitely want it to provide a positive return. But more than...Is New 90 Day High Low • Jan 15New 90-day low: NT$15.65The company is down 13% from its price of NT$18.05 on 16 October 2020. The Taiwanese market is up 22% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Tech industry, which is up 14% over the same period.분석 기사 • Nov 23In Win Development (TPE:6117) Is Making Moderate Use Of DebtDavid Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...Reported Earnings • Nov 12Third quarter 2020 earnings released: NT$0.15 loss per shareThe company reported a solid third quarter result with reduced losses and improved revenues and control over expenses. Third quarter 2020 results: Revenue: NT$608.5m (up 8.6% from 3Q 2019). Net loss: NT$13.7m (loss narrowed 38% from 3Q 2019). Over the last 3 years on average, earnings per share has fallen by 50% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings.Is New 90 Day High Low • Oct 29New 90-day low: NT$16.90The company is down 6.0% from its price of NT$18.05 on 31 July 2020. The Taiwanese market is up 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Tech industry, which is down 2.0% over the same period.지급의 안정성과 성장배당 데이터 가져오는 중안정적인 배당: 6117 10년 미만 동안 배당금을 지급해 왔으며 이 기간 동안 지급액은 휘발성이었습니다.배당금 증가: 6117 의 배당금 지급이 증가했지만 회사는 8 년 동안만 배당금을 지급했습니다.배당 수익률 vs 시장In Win Development 배당 수익률 vs 시장6117의 배당 수익률은 시장과 어떻게 비교되나요?구분배당 수익률회사 (6117)7.8%시장 하위 25% (TW)1.4%시장 상위 25% (TW)4.9%업계 평균 (Tech)2.7%분석가 예측 (6117) (최대 3년)n/a주목할만한 배당금: 6117 의 배당금( 7.77% )은 TW 시장에서 배당금 지급자의 하위 25%( 1.38% )보다 높습니다.고배당: 6117 의 배당금( 7.77% )은 TW 시장( 4.85% )주주 대상 이익 배당수익 보장: 지급 비율 ( 129.4% )이 높기 때문에 6117 의 배당금 지급은 수익으로 잘 충당되지 않습니다.주주 현금 배당현금 흐름 범위: 6117 배당금을 지급하고 있지만 회사에는 잉여현금흐름이 없습니다.높은 배당을 제공하는 우량 기업 찾기7D1Y7D1Y7D1YTW 시장에서 배당이 강한 기업.View Management기업 분석 및 재무 데이터 상태데이터최종 업데이트 (UTC 시간)기업 분석2026/06/20 04:28종가2026/06/18 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 세부 정보는 당사의 Github 페이지에서 확인하실 수 있으며, 보고서 활용 방법에 대한 가이드와 YouTube 튜토리얼도 제공하고 있습니다.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 소스In Win Development Inc.는 0명의 분석가가 다루고 있습니다. 이 중 0명의 분석가가 우리 보고서에 입력 데이터로 사용되는 매출 또는 수익 추정치를 제출했습니다. 분석가의 제출 자료는 하루 종일 업데이트됩니다.
Upcoming Dividend • Aug 08Upcoming dividend of NT$2.17 per shareEligible shareholders must have bought the stock before 15 August 2025. Payment date: 29 August 2025. Payout ratio is a comfortable 64% but the company is paying out more than the cash it is generating. Trailing yield: 2.3%. Lower than top quartile of Taiwanese dividend payers (5.3%). Lower than average of industry peers (3.6%).
New Risk • Jun 03New major risk - Dividend sustainabilityThe dividend is not well covered by earnings and cash flows. Payout ratio: 158% The company is paying a dividend despite having no free cash flows. Dividend yield: 6.8% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 158% Paying a dividend despite having no free cash flows. High level of non-cash earnings (21% accrual ratio). Minor Risk High level of debt (61% net debt to equity).
Valuation Update With 7 Day Price Move • May 25Investor sentiment improves as stock rises 15%After last week's 15% share price gain to NT$91.90, the stock trades at a trailing P/E ratio of 20x. Average trailing P/E is 22x in the Tech industry in Taiwan. Total returns to shareholders of 521% over the past three years.
Reported Earnings • May 19First quarter 2026 earnings released: EPS: NT$1.33 (vs NT$0.48 in 1Q 2025)First quarter 2026 results: EPS: NT$1.33 (up from NT$0.48 in 1Q 2025). Revenue: NT$839.4m (up 21% from 1Q 2025). Net income: NT$123.0m (up 183% from 1Q 2025). Profit margin: 15% (up from 6.3% in 1Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has increased by 76% per year, which means it is tracking significantly ahead of earnings growth.
Valuation Update With 7 Day Price Move • Apr 13Investor sentiment improves as stock rises 17%After last week's 17% share price gain to NT$81.40, the stock trades at a trailing P/E ratio of 21.8x. Average trailing P/E is 22x in the Tech industry in Taiwan. Total returns to shareholders of 463% over the past three years.
New Risk • Apr 01New major risk - Earnings qualityThe company has a high level of non-cash earnings. Accrual ratio: 20% 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. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (20% accrual ratio). Minor Risks High level of debt (60% net debt to equity). Paying a dividend despite having no free cash flows.
공시 • Mar 13In Win Development Inc., Annual General Meeting, Jun 23, 2026In Win Development Inc., Annual General Meeting, Jun 23, 2026. Location: no,108, sec.1 nan k`an rd., lujhu district, taoyuan city Taiwan
Reported Earnings • Mar 13Full year 2025 earnings released: EPS: NT$3.77 (vs NT$4.12 in FY 2024)Full year 2025 results: EPS: NT$3.77 (down from NT$4.12 in FY 2024). Revenue: NT$3.22b (up 12% from FY 2024). Net income: NT$346.0m (down 6.1% from FY 2024). Profit margin: 11% (down from 13% in FY 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 59% per year but the company’s share price has increased by 70% per year, which means it is tracking significantly ahead of earnings growth.
Reported Earnings • Nov 17Third quarter 2025 earnings released: EPS: NT$1.36 (vs NT$0.84 in 3Q 2024)Third quarter 2025 results: EPS: NT$1.36 (up from NT$0.84 in 3Q 2024). Revenue: NT$861.1m (up 27% from 3Q 2024). Net income: NT$125.6m (up 69% from 3Q 2024). Profit margin: 15% (up from 11% 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 70% per year but the company’s share price has increased by 78% per year, which means it is tracking significantly ahead of earnings growth.
Reported Earnings • Aug 17Second quarter 2025 earnings released: EPS: NT$0.37 (vs NT$1.03 in 2Q 2024)Second quarter 2025 results: EPS: NT$0.37 (down from NT$1.03 in 2Q 2024). Revenue: NT$837.0m (up 11% from 2Q 2024). Net income: NT$33.5m (down 63% from 2Q 2024). Profit margin: 4.0% (down from 12% 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 86% per year but the company’s share price has only increased by 67% per year, which means it is significantly lagging earnings growth.
Upcoming Dividend • Aug 08Upcoming dividend of NT$2.17 per shareEligible shareholders must have bought the stock before 15 August 2025. Payment date: 29 August 2025. Payout ratio is a comfortable 64% but the company is paying out more than the cash it is generating. Trailing yield: 2.3%. Lower than top quartile of Taiwanese dividend payers (5.3%). Lower than average of industry peers (3.6%).
New Risk • May 30New minor risk - Dividend sustainabilityThe dividend is not well covered by cash flows. Cash payout ratio: 141% Dividend yield: 2.3% 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 Share price has been highly volatile over the past 3 months (12% average weekly change). Minor Risk Dividend is not well covered by cash flows (141% cash payout ratio).
Reported Earnings • May 15First quarter 2025 earnings released: EPS: NT$0.48 (vs NT$1.15 in 1Q 2024)First quarter 2025 results: EPS: NT$0.48 (down from NT$1.15 in 1Q 2024). Revenue: NT$692.8m (down 3.4% from 1Q 2024). Net income: NT$43.5m (down 57% from 1Q 2024). Profit margin: 6.3% (down from 14% in 1Q 2024). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 105% per year but the company’s share price has only increased by 81% per year, which means it is significantly lagging earnings growth.
Valuation Update With 7 Day Price Move • May 14Investor sentiment improves as stock rises 19%After last week's 19% share price gain to NT$92.50, the stock trades at a trailing P/E ratio of 22.9x. Average trailing P/E is 19x in the Tech industry in Taiwan. Total returns to shareholders of 497% over the past three years.
Buy Or Sell Opportunity • May 13Now 21% overvaluedOver the last 90 days, the stock has fallen 3.1% to NT$84.10. The fair value is estimated to be NT$69.48, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 7.2% over the last 3 years. Meanwhile, the company has become profitable.
공시 • May 01In Win Development Inc. to Report Q1, 2025 Results on May 08, 2025In Win Development Inc. announced that they will report Q1, 2025 results on May 08, 2025
Buy Or Sell Opportunity • Apr 04Now 22% overvaluedOver the last 90 days, the stock has fallen 5.7% to NT$86.40. The fair value is estimated to be NT$70.92, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 7.2% over the last 3 years. Meanwhile, the company has become profitable.
Valuation Update With 7 Day Price Move • Apr 02Investor sentiment deteriorates as stock falls 16%After last week's 16% share price decline to NT$86.40, the stock trades at a trailing P/E ratio of 21.2x. Average trailing P/E is 19x in the Tech industry in Taiwan. Total returns to shareholders of 443% over the past three years.
분석 기사 • Mar 30In Win Development (TWSE:6117) Is Doing The Right Things To Multiply Its Share PriceIf we want to find a potential multi-bagger, often there are underlying trends that can provide clues. Typically, we'll...
Valuation Update With 7 Day Price Move • Mar 19Investor sentiment improves as stock rises 23%After last week's 23% share price gain to NT$111, the stock trades at a trailing P/E ratio of 27.3x. Average trailing P/E is 20x in the Tech industry in Taiwan. Total returns to shareholders of 603% over the past three years.
Reported Earnings • Mar 14Full year 2024 earnings released: EPS: NT$4.12 (vs NT$1.02 in FY 2023)Full year 2024 results: EPS: NT$4.12 (up from NT$1.02 in FY 2023). Revenue: NT$2.88b (up 22% from FY 2023). Net income: NT$368.4m (up 307% from FY 2023). Profit margin: 13% (up from 3.8% 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 119% per year but the company’s share price has only increased by 83% per year, which means it is significantly lagging earnings growth.
New Risk • Mar 11New 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 6.3% 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 High level of debt (42% net debt to equity). Share price has been volatile over the past 3 months (6.3% average weekly change).
공시 • Mar 07In Win Development Inc., Annual General Meeting, Jun 19, 2025In Win Development Inc., Annual General Meeting, Jun 19, 2025. Location: no,108, sec.1 nan k`an rd., lujhu district, taoyuan city Taiwan
분석 기사 • Mar 07Risks To Shareholder Returns Are Elevated At These Prices For In Win Development Inc. (TWSE:6117)When you see that almost half of the companies in the Tech industry in Taiwan have price-to-sales ratios (or "P/S...
Reported Earnings • Nov 18Third quarter 2024 earnings released: EPS: NT$0.84 (vs NT$0.71 in 3Q 2023)Third quarter 2024 results: EPS: NT$0.84 (up from NT$0.71 in 3Q 2023). Revenue: NT$678.6m (up 3.9% from 3Q 2023). Net income: NT$74.4m (up 18% from 3Q 2023). Profit margin: 11% (up from 9.6% in 3Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 128% per year but the company’s share price has only increased by 75% per year, which means it is significantly lagging earnings growth.
분석 기사 • Nov 14In Win Development (TWSE:6117) Is Looking To Continue Growing Its Returns On CapitalIf we want to find a stock that could multiply over the long term, what are the underlying trends we should look for...
공시 • Oct 30In Win Development Inc. to Report Q3, 2024 Results on Nov 08, 2024In Win Development Inc. announced that they will report Q3, 2024 results on Nov 08, 2024
분석 기사 • Oct 14What In Win Development Inc.'s (TWSE:6117) P/S Is Not Telling YouWhen you see that almost half of the companies in the Tech industry in Taiwan have price-to-sales ratios (or "P/S...
분석 기사 • Sep 23Do In Win Development's (TWSE:6117) Earnings Warrant Your Attention?Investors are often guided by the idea of discovering 'the next big thing', even if that means buying 'story stocks...
Reported Earnings • Aug 17Second quarter 2024 earnings released: EPS: NT$1.03 (vs NT$0.081 loss in 2Q 2023)Second quarter 2024 results: EPS: NT$1.03 (up from NT$0.081 loss in 2Q 2023). Revenue: NT$757.2m (up 43% from 2Q 2023). Net income: NT$91.2m (up NT$98.4m from 2Q 2023). Profit margin: 12% (up from net loss in 2Q 2023). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 130% per year but the company’s share price has only increased by 89% per year, which means it is significantly lagging earnings growth.
Valuation Update With 7 Day Price Move • Aug 06Investor sentiment deteriorates as stock falls 18%After last week's 18% share price decline to NT$94.10, the stock trades at a trailing P/E ratio of 35.2x. Average trailing P/E is 20x in the Tech industry in Taiwan. Total returns to shareholders of 467% over the past three years.
공시 • Aug 02In Win Development Inc. to Report Q2, 2024 Results on Aug 08, 2024In Win Development Inc. announced that they will report Q2, 2024 results on Aug 08, 2024
공시 • Jun 14+ 2 more updatesIn Win Development Inc. Announces Changes to its BoardIn Win Development Inc. announced change of independent directors. Title and name of the previous position holder: Independent Directors: Su Yu Hui. Resume of the previous position holder: Su Yu Hui, Professor of Department of Accounting, Soochow University. Title and name of the new position holders: Independent Directors: Hung Sheng Min and Huang Yu Hui. Resume of the new position holder: Hung Sheng Min, Professor of Department of Accounting, Soochow University. Huang Yu Hui, Accounting Officer of Taiwan GlassInd. Corp., Circumstances of change: Term expired. Original term August 25, 2021 to August 24, 2024. Effective date of the new appointment: June 12, 2024.
분석 기사 • Jun 12In Win Development (TWSE:6117) Shareholders Will Want The ROCE Trajectory To ContinueIf we want to find a stock that could multiply over the long term, what are the underlying trends we should look for...
Valuation Update With 7 Day Price Move • Jun 10Investor sentiment deteriorates as stock falls 15%After last week's 15% share price decline to NT$134, the stock trades at a trailing P/E ratio of 50x. Average trailing P/E is 23x in the Tech industry in Taiwan. Total returns to shareholders of 756% over the past three years.
Buy Or Sell Opportunity • Jun 05Now 23% undervaluedOver the last 90 days, the stock has risen 87% to NT$147. The fair value is estimated to be NT$190, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company has become profitable.
Valuation Update With 7 Day Price Move • May 22Investor sentiment improves as stock rises 25%After last week's 25% share price gain to NT$110, the stock trades at a trailing P/E ratio of 41.2x. Average trailing P/E is 23x in the Tech industry in Taiwan. Total returns to shareholders of 583% over the past three years.
분석 기사 • May 22What In Win Development Inc.'s (TWSE:6117) 31% Share Price Gain Is Not Telling YouIn Win Development Inc. ( TWSE:6117 ) shareholders have had their patience rewarded with a 31% share price jump in the...
Reported Earnings • May 19First quarter 2024 earnings released: EPS: NT$1.15 (vs NT$0.49 loss in 1Q 2023)First quarter 2024 results: EPS: NT$1.15 (up from NT$0.49 loss in 1Q 2023). Revenue: NT$717.0m (up 54% from 1Q 2023). Net income: NT$102.3m (up NT$146.1m from 1Q 2023). Profit margin: 14% (up from net loss in 1Q 2023). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 120% per year but the company’s share price has only increased by 80% per year, which means it is significantly lagging earnings growth.
공시 • May 01In Win Development Inc. to Report Q1, 2024 Results on May 10, 2024In Win Development Inc. announced that they will report Q1, 2024 results at 9:00 AM, Taipei Standard Time on May 10, 2024
Buy Or Sell Opportunity • Apr 22Now 23% undervalued after recent price dropOver the last 90 days, the stock has fallen 1.9% to NT$76.10. The fair value is estimated to be NT$98.64, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company has become profitable.
Valuation Update With 7 Day Price Move • Apr 16Investor sentiment deteriorates as stock falls 25%After last week's 25% share price decline to NT$81.10, the stock trades at a trailing P/E ratio of 79.3x. Average trailing P/E is 24x in the Tech industry in Taiwan. Total returns to shareholders of 392% over the past three years.
분석 기사 • Apr 09Estimating The Intrinsic Value Of In Win Development Inc. (TWSE:6117)Key Insights In Win Development's estimated fair value is NT$102 based on 2 Stage Free Cash Flow to Equity Current...
공시 • Mar 22In Win Development Inc., Annual General Meeting, Jun 12, 2024In Win Development Inc., Annual General Meeting, Jun 12, 2024.
분석 기사 • Mar 21Why In Win Development's (TWSE:6117) Earnings Are Better Than They SeemThe market seemed underwhelmed by last week's earnings announcement from In Win Development Inc. ( TWSE:6117 ) despite...
Reported Earnings • Mar 16Full year 2023 earnings released: EPS: NT$1.02 (vs NT$0.62 in FY 2022)Full year 2023 results: EPS: NT$1.02 (up from NT$0.62 in FY 2022). Revenue: NT$2.37b (down 1.2% from FY 2022). Net income: NT$90.6m (up 66% from FY 2022). Profit margin: 3.8% (up from 2.3% 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 99% per year but the company’s share price has only increased by 71% per year, which means it is significantly lagging earnings growth.
분석 기사 • Mar 05Revenues Not Telling The Story For In Win Development Inc. (TWSE:6117)When close to half the companies in the Tech industry in Taiwan have price-to-sales ratios (or "P/S") below 1.8x, you...
New Risk • Nov 30New minor risk - Earnings qualityThe company has large one-off items impacting its financial results. One-off items were 76% 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: Major Risks Interest payments are not well covered by earnings (0.6x net interest cover). Share price has been highly volatile over the past 3 months (13% average weekly change). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.2% net profit margin).
Reported Earnings • Nov 14Third quarter 2023 earnings released: EPS: NT$0.71 (vs NT$0.75 in 3Q 2022)Third quarter 2023 results: EPS: NT$0.71 (down from NT$0.75 in 3Q 2022). Revenue: NT$653.0m (up 2.7% from 3Q 2022). Net income: NT$63.0m (down 4.8% from 3Q 2022). Profit margin: 9.6% (in line with 3Q 2022). Over the last 3 years on average, earnings per share has increased by 77% per year but the company’s share price has only increased by 48% per year, which means it is significantly lagging earnings growth.
Reported Earnings • Aug 12Second quarter 2023 earnings released: NT$0.08 loss per share (vs NT$0.20 profit in 2Q 2022)Second quarter 2023 results: NT$0.08 loss per share (down from NT$0.20 profit in 2Q 2022). Revenue: NT$529.7m (down 13% from 2Q 2022). Net loss: NT$7.19m (down 141% from profit in 2Q 2022). Over the last 3 years on average, earnings per share has increased by 65% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth.
Valuation Update With 7 Day Price Move • Jul 26Investor sentiment improves as stock rises 24%After last week's 24% share price gain to NT$27.70, the stock trades at a trailing P/E ratio of 74.1x. Average trailing P/E is 23x in the Tech industry in Taiwan. Total returns to shareholders of 56% over the past three years.
New Risk • Jul 05New 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 6.2% 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 Interest payments are not well covered by earnings (0.4x net interest cover). Minor Risks Share price has been volatile over the past 3 months (6.2% average weekly change). Market cap is less than US$100m (NT$1.84b market cap, or US$59.0m).
Valuation Update With 7 Day Price Move • Jul 04Investor sentiment improves as stock rises 25%After last week's 25% share price gain to NT$20.75, the stock trades at a trailing P/E ratio of 55.5x. Average trailing P/E is 20x in the Tech industry in Taiwan. Total returns to shareholders of 3.8% over the past three years.
Reported Earnings • Mar 31Full year 2022 earnings released: EPS: NT$0.62 (vs NT$0.98 loss in FY 2021)Full year 2022 results: EPS: NT$0.62 (up from NT$0.98 loss in FY 2021). Revenue: NT$2.40b (up 3.7% from FY 2021). Net income: NT$54.7m (up NT$141.8m from FY 2021). Profit margin: 2.3% (up from net loss in FY 2021). The move to profitability was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth.
Board Change • Nov 16Less than half of directors are independentNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. 1 independent director (4 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.
Reported Earnings • Aug 15Second quarter 2022 earnings released: EPS: NT$0.20 (vs NT$0.23 loss in 2Q 2021)Second quarter 2022 results: EPS: NT$0.20 (up from NT$0.23 loss in 2Q 2021). Revenue: NT$611.4m (up 5.5% from 2Q 2021). Net income: NT$17.8m (up NT$38.5m from 2Q 2021). Profit margin: 2.9% (up from net loss in 2Q 2021). The move to profitability was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth.
Reported Earnings • May 16First quarter 2022 earnings released: NT$0.25 loss per share (vs NT$0.32 loss in 1Q 2021)First quarter 2022 results: NT$0.25 loss per share (up from NT$0.32 loss in 1Q 2021). Revenue: NT$609.6m (up 13% from 1Q 2021). Net loss: NT$22.3m (loss narrowed 20% from 1Q 2021). Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth.
Board Change • Apr 27Less than half of directors are independentNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. 1 independent director (4 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.
Reported Earnings • Apr 01Full year 2021 earnings released: NT$0.98 loss per share (vs NT$0.86 loss in FY 2020)Full year 2021 results: NT$0.98 loss per share (down from NT$0.86 loss in FY 2020). Revenue: NT$2.31b (up 4.9% from FY 2020). Net loss: NT$87.1m (loss widened 14% from FY 2020). Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth.
Reported Earnings • Nov 12Third quarter 2021 earnings released: EPS NT$0.13 (vs NT$0.15 loss in 3Q 2020)The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$630.0m (up 3.5% from 3Q 2020). Net income: NT$11.9m (up NT$25.6m from 3Q 2020). Profit margin: 1.9% (up from net loss in 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has increased by 12% per year, which means it is well ahead of earnings.
Reported Earnings • Aug 15Second quarter 2021 earnings released: NT$0.23 loss per share (vs NT$0.059 loss in 2Q 2020)The company reported a poor second quarter result with increased losses, weaker revenues and weaker control over costs. Second quarter 2021 results: Revenue: NT$579.6m (down 2.5% from 2Q 2020). Net loss: NT$20.7m (loss widened 294% from 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 45% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings.
Reported Earnings • May 14First quarter 2021 earnings released: NT$0.32 loss per share (vs NT$0.11 loss in 1Q 2020)The company reported a soft first quarter result with increased losses and weaker control over costs, although revenues improved. First quarter 2021 results: Revenue: NT$540.7m (up 3.7% from 1Q 2020). Net loss: NT$28.0m (loss widened 190% from 1Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 63 percentage points per year, which is a significant difference in performance.
분석 기사 • Apr 20In Win Development (TPE:6117) Is Carrying A Fair Bit Of DebtWarren Buffett famously said, 'Volatility is far from synonymous with risk.' When we think about how risky a company...
Reported Earnings • Mar 26Full year 2020 earnings released: NT$0.86 loss per share (vs NT$1.73 loss in FY 2019)The company reported a solid full year result with reduced losses, improved revenues and improved control over expenses. Full year 2020 results: Revenue: NT$2.20b (up 6.9% from FY 2019). Net loss: NT$76.4m (loss narrowed 50% from FY 2019). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 68 percentage points per year, which is a significant difference in performance.
분석 기사 • Feb 23Did In Win Development's (TPE:6117) Share Price Deserve to Gain 15%?When you buy and hold a stock for the long term, you definitely want it to provide a positive return. But more than...
Is New 90 Day High Low • Jan 15New 90-day low: NT$15.65The company is down 13% from its price of NT$18.05 on 16 October 2020. The Taiwanese market is up 22% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Tech industry, which is up 14% over the same period.
분석 기사 • Nov 23In Win Development (TPE:6117) Is Making Moderate Use Of DebtDavid Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...
Reported Earnings • Nov 12Third quarter 2020 earnings released: NT$0.15 loss per shareThe company reported a solid third quarter result with reduced losses and improved revenues and control over expenses. Third quarter 2020 results: Revenue: NT$608.5m (up 8.6% from 3Q 2019). Net loss: NT$13.7m (loss narrowed 38% from 3Q 2019). Over the last 3 years on average, earnings per share has fallen by 50% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings.
Is New 90 Day High Low • Oct 29New 90-day low: NT$16.90The company is down 6.0% from its price of NT$18.05 on 31 July 2020. The Taiwanese market is up 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Tech industry, which is down 2.0% over the same period.