Ta-Yuan Cogeneration (8931) 주식 개요타이위안 열병합 발전 회사는 대만에서 열병합 발전 사업을 하고 있습니다. 자세히 보기8931 펀더멘털 분석스노우플레이크 점수가치 평가0/6미래 성장0/6과거 실적2/6재무 건전성2/6배당2/6위험 분석3.83%의 배당금은 수익이나 자유현금흐름으로 잘 충당되지 않습니다.부채비율이 높네요이익 마진 (7.5%)이 지난해 (12.6%)보다 낮습니다.모든 위험 점검 보기8931 Community Fair Values Create NarrativeSee what others think this stock is worth. Follow their fair value or set your own to get alerts.Your Fair ValueNT$Current PriceNT$41.8011.5% 고평가 내재 할인율Growth estimate overAnnual revenue growth rate5 Yearstime period%/yrDecreaseIncreasePastFuture03b2016201920222025202620282031Revenue NT$3.1bEarnings NT$233.2mAdvancedSet Fair ValueView all narrativesTa-Yuan Cogeneration Company Ltd. 경쟁사Taiwan CogenerationSymbol: TWSE:8926Market cap: NT$57.0bIna EnergySymbol: TPEX:6987Market cap: NT$4.5bGreenetSymbol: TPEX:7842Market cap: NT$1.8bHsin Kao GasLtdSymbol: TWSE:9931Market cap: NT$4.2b가격 이력 및 성과Ta-Yuan Cogeneration 주가의 최고가, 최저가 및 변동 요약과거 주가현재 주가NT$41.8052주 최고가NT$54.6052주 최저가NT$40.80베타0.531개월 변동-3.91%3개월 변동-6.80%1년 변동-21.72%3년 변동-33.12%5년 변동43.64%IPO 이후 변동294.91%최근 뉴스 및 업데이트Declared Dividend • May 29Dividend reduced to NT$1.60Dividend of NT$1.60 is 20% lower than last year. Ex-date: 30th July 2026 Payment date: 27th August 2026 Dividend yield will be 3.8%, which is higher than the industry average of 1.9%. Sustainability & Growth Dividend is covered by earnings (86% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 14% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 1.2% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover.Reported Earnings • May 07First quarter 2026 earnings released: EPS: NT$0.38 (vs NT$0.74 in 1Q 2025)First quarter 2026 results: EPS: NT$0.38 (down from NT$0.74 in 1Q 2025). Revenue: NT$620.8m (flat on 1Q 2025). Net income: NT$46.9m (down 48% from 1Q 2025). Profit margin: 7.6% (down from 15% in 1Q 2025). Over the last 3 years on average, earnings per share has fallen by 19% per year whereas the company’s share price has fallen by 15% per year.Reported Earnings • Mar 12Full year 2025 earnings released: EPS: NT$1.87 (vs NT$2.32 in FY 2024)Full year 2025 results: EPS: NT$1.87 (down from NT$2.32 in FY 2024). Revenue: NT$2.47b (down 1.7% from FY 2024). Net income: NT$228.7m (down 19% from FY 2024). Profit margin: 9.2% (down from 11% in FY 2024). Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings.공시 • Mar 09Ta-Yuan Cogeneration Company Ltd., Annual General Meeting, May 26, 2026Ta-Yuan Cogeneration Company Ltd., Annual General Meeting, May 26, 2026. Location: no,276, ch`ao yin n. rd., dayuan dist., taoyuan city TaiwanReported Earnings • Nov 06Third quarter 2025 earnings released: EPS: NT$0.40 (vs NT$0.71 in 3Q 2024)Third quarter 2025 results: EPS: NT$0.40 (down from NT$0.71 in 3Q 2024). Revenue: NT$692.3m (up 2.1% from 3Q 2024). Net income: NT$49.0m (down 44% from 3Q 2024). Profit margin: 7.1% (down from 13% in 3Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 15% per year, which means it is well ahead of earnings.Reported Earnings • Aug 06Second quarter 2025 earnings released: EPS: NT$0.70 (vs NT$0.58 in 2Q 2024)Second quarter 2025 results: EPS: NT$0.70 (up from NT$0.58 in 2Q 2024). Revenue: NT$595.5m (down 3.1% from 2Q 2024). Net income: NT$85.6m (up 21% from 2Q 2024). Profit margin: 14% (up from 12% in 2Q 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 21% per year, which means it is tracking significantly ahead of earnings growth.더 많은 업데이트 보기Recent updatesDeclared Dividend • May 29Dividend reduced to NT$1.60Dividend of NT$1.60 is 20% lower than last year. Ex-date: 30th July 2026 Payment date: 27th August 2026 Dividend yield will be 3.8%, which is higher than the industry average of 1.9%. Sustainability & Growth Dividend is covered by earnings (86% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 14% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 1.2% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover.Reported Earnings • May 07First quarter 2026 earnings released: EPS: NT$0.38 (vs NT$0.74 in 1Q 2025)First quarter 2026 results: EPS: NT$0.38 (down from NT$0.74 in 1Q 2025). Revenue: NT$620.8m (flat on 1Q 2025). Net income: NT$46.9m (down 48% from 1Q 2025). Profit margin: 7.6% (down from 15% in 1Q 2025). Over the last 3 years on average, earnings per share has fallen by 19% per year whereas the company’s share price has fallen by 15% per year.Reported Earnings • Mar 12Full year 2025 earnings released: EPS: NT$1.87 (vs NT$2.32 in FY 2024)Full year 2025 results: EPS: NT$1.87 (down from NT$2.32 in FY 2024). Revenue: NT$2.47b (down 1.7% from FY 2024). Net income: NT$228.7m (down 19% from FY 2024). Profit margin: 9.2% (down from 11% in FY 2024). Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings.공시 • Mar 09Ta-Yuan Cogeneration Company Ltd., Annual General Meeting, May 26, 2026Ta-Yuan Cogeneration Company Ltd., Annual General Meeting, May 26, 2026. Location: no,276, ch`ao yin n. rd., dayuan dist., taoyuan city TaiwanReported Earnings • Nov 06Third quarter 2025 earnings released: EPS: NT$0.40 (vs NT$0.71 in 3Q 2024)Third quarter 2025 results: EPS: NT$0.40 (down from NT$0.71 in 3Q 2024). Revenue: NT$692.3m (up 2.1% from 3Q 2024). Net income: NT$49.0m (down 44% from 3Q 2024). Profit margin: 7.1% (down from 13% in 3Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 15% per year, which means it is well ahead of earnings.Reported Earnings • Aug 06Second quarter 2025 earnings released: EPS: NT$0.70 (vs NT$0.58 in 2Q 2024)Second quarter 2025 results: EPS: NT$0.70 (up from NT$0.58 in 2Q 2024). Revenue: NT$595.5m (down 3.1% from 2Q 2024). Net income: NT$85.6m (up 21% from 2Q 2024). Profit margin: 14% (up from 12% in 2Q 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 21% per year, which means it is tracking significantly ahead of earnings growth.Upcoming Dividend • Jul 23Upcoming dividend of NT$2.00 per shareEligible shareholders must have bought the stock before 30 July 2025. Payment date: 28 August 2025. Payout ratio is on the higher end at 75% but the company is not cash flow positive. Trailing yield: 3.8%. Lower than top quartile of Taiwanese dividend payers (5.3%). Higher than average of industry peers (2.9%).Declared Dividend • May 31Dividend reduced to NT$2.00Dividend of NT$2.00 is 4.8% lower than last year. Ex-date: 30th July 2025 Payment date: 28th August 2025 Dividend yield will be 3.7%, which is higher than the industry average of 1.9%. Sustainability & Growth Dividend is covered by earnings (75% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 16% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 14% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover.Reported Earnings • May 08First quarter 2025 earnings released: EPS: NT$0.74 (vs NT$0.41 in 1Q 2024)First quarter 2025 results: EPS: NT$0.74 (up from NT$0.41 in 1Q 2024). Revenue: NT$619.3m (up 8.1% from 1Q 2024). Net income: NT$90.3m (up 81% from 1Q 2024). Profit margin: 15% (up from 8.7% in 1Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has increased by 17% per year, which means it is tracking significantly ahead of earnings growth.공시 • May 01Ta-Yuan Cogeneration Company Ltd. to Report Q1, 2025 Results on May 07, 2025Ta-Yuan Cogeneration Company Ltd. announced that they will report Q1, 2025 results on May 07, 2025New Risk • Apr 02New major risk - Financial positionThe company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 19% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (19% operating cash flow to total debt). Dividend is not well covered by earnings and cash flows. Payout ratio: 98% Paying a dividend despite having no free cash flows.공시 • Mar 13Ta-Yuan Cogeneration Company Ltd., Annual General Meeting, May 28, 2025Ta-Yuan Cogeneration Company Ltd., Annual General Meeting, May 28, 2025, at 09:00 Taipei Standard Time. Location: no,276, ch`ao yin n. rd., dayuan dist., taoyuan city Taiwan공시 • Mar 01Ta-Yuan Cogeneration Company Ltd. to Report Q4, 2024 Results on Mar 07, 2025Ta-Yuan Cogeneration Company Ltd. announced that they will report Q4, 2024 results on Mar 07, 2025New Risk • Dec 16New major risk - Financial data availabilityThe company has not reported any financial data. This is considered a major risk. With no or incomplete audited reported financial data, it is virtually impossible to assess the company's investment potential. Currently, the following risks have been identified for the company: Major Risk No financial data reported. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past.공시 • Oct 29Ta-Yuan Cogeneration Company Ltd. to Report Q3, 2024 Results on Nov 05, 2024Ta-Yuan Cogeneration Company Ltd. announced that they will report Q3, 2024 results on Nov 05, 2024Reported Earnings • Aug 17Second quarter 2024 earnings: EPS and revenues miss analyst expectationsSecond quarter 2024 results: EPS: NT$0.58 (up from NT$0.33 in 2Q 2023). Revenue: NT$614.8m (down 6.9% from 2Q 2023). Net income: NT$71.0m (up 77% from 2Q 2023). Profit margin: 12% (up from 6.1% in 2Q 2023). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 17%. Earnings per share (EPS) also missed analyst estimates by 9.4%. Revenue is forecast to grow 19% p.a. on average during the next 2 years, compared to a 10.0% growth forecast for the Renewable Energy industry in Asia. Over the last 3 years on average, earnings per share has increased by 20% per year whereas the company’s share price has increased by 18% per year.공시 • Jul 31Ta-Yuan Cogeneration Company Ltd. Announces Change in Representative of the Its Institutional Director, Effective August 1, 2024Ta-Yuan Cogeneration Company Ltd. announced change in representative of the Company's institutional director. Name of the previous position holder: Yi-Tong Chen. Resume of the previous position holder: General Manager of Taiwan Cogeneration Corporation. Name of the new position holder: Tien-Te Cheng. Resume of the new position holder: Professional Chief Engineer of Taiwan Power Company. Reason for the change: Taiwan Cogeneration Corporation assigned a new representative to serve as institutional director. Effective date of the new appointment: August 1, 2024.공시 • Jul 30Ta-Yuan Cogeneration Company Ltd. to Report Q2, 2024 Results on Aug 06, 2024Ta-Yuan Cogeneration Company Ltd. announced that they will report Q2, 2024 results on Aug 06, 2024Upcoming Dividend • Jul 18Upcoming dividend of NT$2.10 per shareEligible shareholders must have bought the stock before 25 July 2024. Payment date: 26 August 2024. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 3.9%. Lower than top quartile of Taiwanese dividend payers (4.2%). Higher than average of industry peers (2.2%).공시 • May 30Ta-Yuan Cogeneration Company Ltd. Approves Cash Dividend, Payable on August 26, 2024Ta-Yuan Cogeneration Company Ltd. approved the cash dividend of TWD 256,735,210. Ex-rights (Ex-dividend) date is July 25, 2024. Ex-rights (Ex-dividend) record date is July 31, 2024. Payment date of cash dividend distribution on August 26, 2024. Date of the resolution by the board of directors or shareholders meeting, or of the decision by the company: May 29, 2024.Reported Earnings • May 19First quarter 2024 earnings: EPS exceeds analyst expectations while revenues lag behindFirst quarter 2024 results: EPS: NT$0.41 (down from NT$0.78 in 1Q 2023). Revenue: NT$572.9m (down 28% from 1Q 2023). Net income: NT$49.8m (down 48% from 1Q 2023). Profit margin: 8.7% (down from 12% in 1Q 2023). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 4.8%. Earnings per share (EPS) exceeded analyst estimates by 52%. Revenue is forecast to grow 16% p.a. on average during the next 2 years, compared to a 9.2% growth forecast for the Renewable Energy industry in Asia. Over the last 3 years on average, earnings per share has increased by 25% per year whereas the company’s share price has increased by 21% per year.공시 • May 09Ta-Yuan Cogeneration Company Ltd. Announces Chairman ChangesTa-Yuan Cogeneration Company Ltd. announced Chairman changes. Name of the previous position holder: Shih-Yang Chang(deputy chairman). Resume of the previous position holder: General manager and director of Ta-Yuan Cogeneration Corporation. Name of the new position holder: Yi-Tung Chen 6.Resume of the new position holder: General manager of Taiwan Cogeneration Corporation. Reason for the change: The seventh meeting of the 11th Board of Directors to elect Yi-Tung Chen director as Chairman on May 8, 2024. Effective date of the new appointment: May 8, 2024.Buy Or Sell Opportunity • Apr 15Now 21% overvalued after recent price riseOver the last 90 days, the stock has risen 7.5% to NT$51.30. The fair value is estimated to be NT$42.50, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 21% over the last 3 years. Earnings per share has grown by 31%. Revenue is forecast to grow by 24% in 2 years. Earnings are forecast to grow by 37% in the next 2 years.Reported Earnings • Mar 17Full year 2023 earnings: EPS misses analyst expectationsFull year 2023 results: EPS: NT$2.32 (down from NT$3.01 in FY 2022). Revenue: NT$2.72b (down 5.0% from FY 2022). Net income: NT$283.3m (down 23% from FY 2022). Profit margin: 10% (down from 13% in FY 2022). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 2.1%. Revenue is forecast to grow 10% p.a. on average during the next 2 years, compared to a 9.4% growth forecast for the Renewable Energy industry in Asia. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth.공시 • Mar 06Ta-Yuan Cogeneration Company Ltd., Annual General Meeting, May 29, 2024Ta-Yuan Cogeneration Company Ltd., Annual General Meeting, May 29, 2024. Location: No. 276, Chaoyin N. Rd.Dayuan Dist Taoyuan City Taiwan Agenda: To consider and approve the 2023 business report; to consider and approve the 2023 Audit Committee's review report; to consider and approve the Report on 2023 employees remuneration; to consider and approve the other matters of business.Valuation Update With 7 Day Price Move • Feb 22Investor sentiment improves as stock rises 19%After last week's 19% share price gain to NT$58.60, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 10x in the Renewable Energy industry in Asia. Total returns to shareholders of 124% over the past three years.Board Change • Jan 17Less than half of directors are independentFollowing the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Chih-Liang Lee was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.공시 • Jan 16Ta-Yuan Cogeneration Company Ltd. Announces the Change of ChairpersonTa-Yuan Cogeneration Company Ltd. announced the change of chairperson. Name of the previous position holder: Chung-Cheng Lee. Resume of the previous position holder: Unpaid consultant of Taiwan Cogeneration Corporation. Name of the new position holder: Shih-Yang Chang 6.Resume of the new position holder: General manager and director of Ta-Yuan Cogeneration Corporation Reason for the change: Taiwan Cogeneration Corporation assigned a new representative to serve as institutional director and held the fifth meeting of the 11th Board of Directors to elect Shih-Yang Chang director as Acting Chairman on January 15, 2024. Effective date of the new appointment: January 15, 2024.Valuation Update With 7 Day Price Move • Nov 20Investor sentiment improves as stock rises 16%After last week's 16% share price gain to NT$49.70, the stock trades at a trailing P/E ratio of 16.4x. Average trailing P/E is 17x in the Renewable Energy industry in Taiwan. Total returns to shareholders of 87% over the past three years.Reported Earnings • Aug 04Second quarter 2023 earnings released: EPS: NT$0.33 (vs NT$0.40 in 2Q 2022)Second quarter 2023 results: EPS: NT$0.33 (down from NT$0.40 in 2Q 2022). Revenue: NT$660.3m (up 15% from 2Q 2022). Net income: NT$40.1m (down 18% from 2Q 2022). Profit margin: 6.1% (down from 8.5% in 2Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has only increased by 24% per year, which means it is significantly lagging earnings growth.공시 • Aug 02+ 1 more updateTa-Yuan Cogeneration Company Ltd. Announces Remuneration Committee ChangesTa-Yuan Cogeneration Company Ltd. announced members of the company’s 5nd Remuneration Committee. .Name of the previous position holder: Independent director: Kua-Teng Su and Independent director: Chun-Tsai Hung. Resume of the previous position holder: Kua-Teng Su/Adjunct professor, National Chengchi University and Chun-Tsai Hung/General manager, Sun Favorite Co. Ltd. Name of the new position holder: Independent director: Chih-liang Lee and Independent director: Yung-Jen Huang. Resume of the new position holder: Chih-liang Lee/General manager, Cheng Loong Binh Duong Paper Co. Ltd. and Yung-Jen Huang/Director, Taoyuan Private Baby Potential Development Center. Reason for the change: Appointed by the board of directors after the expiration of the term. date of the new member: August 1, 2023.Upcoming Dividend • Jun 20Upcoming dividend of NT$2.50 per share at 3.8% yieldEligible shareholders must have bought the stock before 27 June 2023. Payment date: 25 July 2023. Payout ratio is a comfortable 68% and this is well supported by cash flows. Trailing yield: 3.8%. Lower than top quartile of Taiwanese dividend payers (5.5%). Higher than average of industry peers (1.9%).Reported Earnings • Mar 26Full year 2022 earnings released: EPS: NT$3.01 (vs NT$1.39 in FY 2021)Full year 2022 results: EPS: NT$3.01 (up from NT$1.39 in FY 2021). Revenue: NT$2.86b (up 43% from FY 2021). Net income: NT$368.1m (up 116% from FY 2021). Profit margin: 13% (up from 8.5% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has increased by 42% per year, which means it is tracking significantly ahead of earnings growth.Valuation Update With 7 Day Price Move • Mar 23Investor sentiment improves as stock rises 16%After last week's 16% share price gain to NT$69.40, the stock trades at a trailing P/E ratio of 37x. Average trailing P/E is 28x in the Renewable Energy industry in Taiwan. Total returns to shareholders of 234% over the past three years.Valuation Update With 7 Day Price Move • Feb 06Investor sentiment improves as stock rises 16%After last week's 16% share price gain to NT$53.00, the stock trades at a trailing P/E ratio of 28.2x. Average trailing P/E is 26x in the Renewable Energy industry in Taiwan. Total returns to shareholders of 117% over the past three years.Board Change • Nov 16Less than half of directors are independentFollowing the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 5 non-independent directors. Independent Director Guang-Yu Li was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.Reported Earnings • Nov 11Third quarter 2022 earnings released: EPS: NT$1.38 (vs NT$0.48 in 3Q 2021)Third quarter 2022 results: EPS: NT$1.38 (up from NT$0.48 in 3Q 2021). Revenue: NT$900.2m (up 51% from 3Q 2021). Net income: NT$168.9m (up 187% from 3Q 2021). Profit margin: 19% (up from 9.9% in 3Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 5% per year whereas the company’s share price has increased by 9% per year.Buying Opportunity • Sep 26Now 22% undervaluedThe stock has been flat over the last 90 days. The fair value is estimated to be NT$38.74, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.8% over the last 3 years. Earnings per share has grown by 3.4%.Buying Opportunity • Sep 06Now 20% undervaluedOver the last 90 days, the stock is up 2.0%. The fair value is estimated to be NT$38.74, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.8% over the last 3 years. Earnings per share has grown by 3.4%.Reported Earnings • Aug 15Second quarter 2022 earnings released: EPS: NT$0.40 (vs NT$0.60 in 2Q 2021)Second quarter 2022 results: EPS: NT$0.40 (down from NT$0.60 in 2Q 2021). Revenue: NT$575.4m (up 11% from 2Q 2021). Net income: NT$48.8m (down 33% from 2Q 2021). Profit margin: 8.5% (down from 14% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has increased by 4% per year.Upcoming Dividend • Jul 14Upcoming dividend of NT$1.50 per shareEligible shareholders must have bought the stock before 21 July 2022. Payment date: 25 August 2022. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 5.1%. Lower than top quartile of Taiwanese dividend payers (6.8%). Higher than average of industry peers (3.0%).공시 • Jun 17+ 2 more updatesTa-Yuan Cogeneration Company Ltd. Announces Company's New Audit Committee MemberTa-Yuan Cogeneration Company Ltd. announced appointment of Company's new Audit committee member. Name of the new position holder is GUANG-YU LI. Resume of the new position holder: The manager of industrial paper's production and sales in Cheng Loong Corp. Effective date of the new member is June 16, 2022.Buying Opportunity • Jun 09Now 20% undervalued after recent price dropOver the last 90 days, the stock is down 3.7%. The fair value is estimated to be NT$37.91, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.0% over the last 3 years. Earnings per share has grown by 8.5%.Buying Opportunity • May 17Now 20% undervalued after recent price dropOver the last 90 days, the stock is down 4.1%. The fair value is estimated to be NT$38.42, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.0% over the last 3 years. Earnings per share has grown by 8.6%.Reported Earnings • May 05First quarter 2022 earnings released: EPS: NT$0.09 (vs NT$0.31 in 1Q 2021)First quarter 2022 results: EPS: NT$0.09 (down from NT$0.31 in 1Q 2021). Revenue: NT$457.8m (up 14% from 1Q 2021). Net income: NT$10.4m (down 72% from 1Q 2021). Profit margin: 2.3% (down from 9.3% in 1Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 9% per year and the company’s share price has also increased by 9% per year.Board Change • Apr 27Less than half of directors are independentFollowing the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 5 non-independent directors. Independent Director Chun-Tsai Hung was the last independent director to join the board, commencing their role in 2017. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.Reported Earnings • Mar 13Full year 2021 earnings: Revenues and EPS in line with analyst expectationsFull year 2021 results: EPS: NT$1.39 (down from NT$1.49 in FY 2020). Revenue: NT$2.00b (up 8.4% from FY 2020). Net income: NT$170.4m (down 6.5% from FY 2020). Profit margin: 8.5% (down from 9.9% in FY 2020). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 13% per year whereas the company’s share price has increased by 10% per year.공시 • Feb 18+ 2 more updatesTa-Yuan Cogeneration Company Ltd. Announces Demise of Bao-Guang Chang, Convener of Audit CommitteeTa-Yuan Cogeneration Company Ltd. announced the demise of Bao-Guang Chang, convener of Audit Committee.Reported Earnings • Nov 05Third quarter 2021 earnings released: EPS NT$0.48 (vs NT$0.54 in 3Q 2020)The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: NT$596.2m (up 22% from 3Q 2020). Net income: NT$58.8m (down 10% from 3Q 2020). Profit margin: 9.9% (down from 13% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 17% per year whereas the company’s share price has increased by 15% per year.Reported Earnings • Aug 05Second quarter 2021 earnings released: EPS NT$0.60 (vs NT$0.22 in 2Q 2020)The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: NT$518.1m (up 11% from 2Q 2020). Net income: NT$72.9m (up 175% from 2Q 2020). Profit margin: 14% (up from 5.7% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 16% per year whereas the company’s share price has increased by 12% per year.Upcoming Dividend • Aug 05Upcoming dividend of NT$1.40 per shareEligible shareholders must have bought the stock before 12 August 2021. Payment date: 08 September 2021. Trailing yield: 4.4%. Lower than top quartile of Taiwanese dividend payers (4.9%). Higher than average of industry peers (3.6%).Reported Earnings • May 09First quarter 2021 earnings released: EPS NT$0.31 (vs NT$0.37 in 1Q 2020)The company reported a poor first quarter result with weaker earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$403.0m (down 3.3% from 1Q 2020). Net income: NT$37.4m (down 17% from 1Q 2020). Profit margin: 9.3% (down from 11% in 1Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth.Reported Earnings • Mar 18Full year 2020 earnings released: EPS NT$1.49 (vs NT$1.20 in FY 2019)The company reported a solid full year result with improved earnings and revenues, although profit margins were flat. Full year 2020 results: Revenue: NT$1.84b (up 13% from FY 2019). Net income: NT$182.2m (up 24% from FY 2019). Profit margin: 9.9% (in line with FY 2019). Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth.분석 기사 • Feb 25These 4 Measures Indicate That Ta-Yuan Cogeneration (GTSM:8931) Is Using Debt ExtensivelyWarren Buffett famously said, 'Volatility is far from synonymous with risk.' So it seems the smart money knows that...분석 기사 • Jan 28Shareholders Of Ta-Yuan Cogeneration (GTSM:8931) Must Be Happy With Their 80% ReturnIf you buy and hold a stock for many years, you'd hope to be making a profit. Better yet, you'd like to see the share...분석 기사 • Dec 17Here’s What’s Happening With Returns At Ta-Yuan Cogeneration (GTSM:8931)If we want to find a stock that could multiply over the long term, what are the underlying trends we should look for...분석 기사 • Nov 18Ta-Yuan Cogeneration's (GTSM:8931) Earnings Are Growing But Is There More To The Story?It might be old fashioned, but we really like to invest in companies that make a profit, each and every year. Having...Is New 90 Day High Low • Nov 14New 90-day high: NT$29.70The company is up 6.0% from its price of NT$28.00 on 14 August 2020. The Taiwanese market is up 3.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Renewable Energy industry, which is up 7.0% over the same period.Reported Earnings • Nov 05Third quarter 2020 earnings released: EPS NT$0.54The company reported a solid third quarter result with improved earnings and revenues, although profit margins were flat. Third quarter 2020 results: Revenue: NT$488.9m (up 18% from 3Q 2019). Net income: NT$65.4m (up 17% from 3Q 2019). Profit margin: 13% (in line with 3Q 2019). Over the last 3 years on average, earnings per share has increased by 15% per year whereas the company’s share price has increased by 13% per year.Is New 90 Day High Low • Oct 30New 90-day high: NT$29.35The company is up 6.0% from its price of NT$27.70 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 Renewable Energy industry, which is up 1.0% over the same period.주주 수익률8931TW Renewable EnergyTW 시장7D-0.9%-0.6%-0.5%1Y-21.7%-18.0%104.1%전체 주주 수익률 보기수익률 대 산업: 8931은 지난 1년 동안 -18%의 수익을 기록한 TW Renewable Energy 산업보다 저조한 성과를 냈습니다.수익률 대 시장: 8931은 지난 1년 동안 104.1%를 기록한 TW 시장보다 저조한 성과를 냈습니다.주가 변동성Is 8931's price volatile compared to industry and market?8931 volatility8931 Average Weekly Movement2.9%Renewable Energy Industry Average Movement8.1%Market Average Movement6.4%10% most volatile stocks in TW Market12.0%10% least volatile stocks in TW Market2.6%안정적인 주가: 8931는 지난 3개월 동안 TW 시장에 비해 주가 변동성이 크지 않았습니다.시간에 따른 변동성: 8931의 주간 변동성(3%)은 지난 1년 동안 안정적이었습니다.회사 소개설립직원 수CEO웹사이트1993195Jeff Changwww.tycc.com.tw타이위안 열병합 발전 회사는 대만에서 열병합 발전 사업을 하고 있습니다. 이 회사는 장비의 운영 및 유지보수, 폐기물 제거, 소각로 사업 관리 등의 업무를 수행합니다. 또한 전기를 생산하고 전송합니다.더 보기Ta-Yuan Cogeneration Company Ltd. 기초 지표 요약Ta-Yuan Cogeneration의 순이익과 매출은 시가총액과 어떻게 비교됩니까?8931 기초 통계시가총액NT$5.12b순이익 (TTM)NT$185.32m매출 (TTM)NT$2.48b27.6x주가수익비율(P/E)2.1x주가매출비율(P/S)8931는 고평가되어 있습니까?공정 가치 및 평가 분석 보기순이익 및 매출최근 실적 보고서(TTM)의 주요 수익성 지표8931 손익계산서 (TTM)매출NT$2.48b매출원가NT$2.11b총이익NT$364.97m기타 비용NT$179.66m순이익NT$185.32m최근 보고된 실적Mar 31, 2026다음 실적 발표일해당 없음주당순이익(EPS)1.52총이익률14.74%순이익률7.48%부채/자본 비율127.2%8931의 장기 실적은 어땠습니까?과거 실적 및 비교 보기배당3.8%현재 배당 수익률106%배당 성향8931는 안정적으로 배당을 지급합니까?8931 배당 기록 및 벤치마크 보기다가오는 배당을 받으려면 언제까지 8931를 매수해야 하나요?Ta-Yuan Cogeneration 배당 일정배당락일Jul 30 2026배당 지급일Aug 27 2026배당락일까지 남은 일수34 days배당 지급일까지 남은 일수62 days8931는 안정적으로 배당을 지급합니까?8931 배당 기록 및 벤치마크 보기View Valuation기업 분석 및 재무 데이터 상태데이터최종 업데이트 (UTC 시간)기업 분석2026/06/26 08:50종가2026/06/26 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 소스Ta-Yuan Cogeneration Company Ltd.는 1명의 분석가가 다루고 있습니다. 이 중 0명의 분석가가 우리 보고서에 입력 데이터로 사용되는 매출 또는 수익 추정치를 제출했습니다. 분석가의 제출 자료는 하루 종일 업데이트됩니다.분석가기관Jianhong WuCapital Securities Corporation
Declared Dividend • May 29Dividend reduced to NT$1.60Dividend of NT$1.60 is 20% lower than last year. Ex-date: 30th July 2026 Payment date: 27th August 2026 Dividend yield will be 3.8%, which is higher than the industry average of 1.9%. Sustainability & Growth Dividend is covered by earnings (86% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 14% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 1.2% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover.
Reported Earnings • May 07First quarter 2026 earnings released: EPS: NT$0.38 (vs NT$0.74 in 1Q 2025)First quarter 2026 results: EPS: NT$0.38 (down from NT$0.74 in 1Q 2025). Revenue: NT$620.8m (flat on 1Q 2025). Net income: NT$46.9m (down 48% from 1Q 2025). Profit margin: 7.6% (down from 15% in 1Q 2025). Over the last 3 years on average, earnings per share has fallen by 19% per year whereas the company’s share price has fallen by 15% per year.
Reported Earnings • Mar 12Full year 2025 earnings released: EPS: NT$1.87 (vs NT$2.32 in FY 2024)Full year 2025 results: EPS: NT$1.87 (down from NT$2.32 in FY 2024). Revenue: NT$2.47b (down 1.7% from FY 2024). Net income: NT$228.7m (down 19% from FY 2024). Profit margin: 9.2% (down from 11% in FY 2024). Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings.
공시 • Mar 09Ta-Yuan Cogeneration Company Ltd., Annual General Meeting, May 26, 2026Ta-Yuan Cogeneration Company Ltd., Annual General Meeting, May 26, 2026. Location: no,276, ch`ao yin n. rd., dayuan dist., taoyuan city Taiwan
Reported Earnings • Nov 06Third quarter 2025 earnings released: EPS: NT$0.40 (vs NT$0.71 in 3Q 2024)Third quarter 2025 results: EPS: NT$0.40 (down from NT$0.71 in 3Q 2024). Revenue: NT$692.3m (up 2.1% from 3Q 2024). Net income: NT$49.0m (down 44% from 3Q 2024). Profit margin: 7.1% (down from 13% in 3Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 15% per year, which means it is well ahead of earnings.
Reported Earnings • Aug 06Second quarter 2025 earnings released: EPS: NT$0.70 (vs NT$0.58 in 2Q 2024)Second quarter 2025 results: EPS: NT$0.70 (up from NT$0.58 in 2Q 2024). Revenue: NT$595.5m (down 3.1% from 2Q 2024). Net income: NT$85.6m (up 21% from 2Q 2024). Profit margin: 14% (up from 12% in 2Q 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 21% per year, which means it is tracking significantly ahead of earnings growth.
Declared Dividend • May 29Dividend reduced to NT$1.60Dividend of NT$1.60 is 20% lower than last year. Ex-date: 30th July 2026 Payment date: 27th August 2026 Dividend yield will be 3.8%, which is higher than the industry average of 1.9%. Sustainability & Growth Dividend is covered by earnings (86% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 14% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 1.2% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover.
Reported Earnings • May 07First quarter 2026 earnings released: EPS: NT$0.38 (vs NT$0.74 in 1Q 2025)First quarter 2026 results: EPS: NT$0.38 (down from NT$0.74 in 1Q 2025). Revenue: NT$620.8m (flat on 1Q 2025). Net income: NT$46.9m (down 48% from 1Q 2025). Profit margin: 7.6% (down from 15% in 1Q 2025). Over the last 3 years on average, earnings per share has fallen by 19% per year whereas the company’s share price has fallen by 15% per year.
Reported Earnings • Mar 12Full year 2025 earnings released: EPS: NT$1.87 (vs NT$2.32 in FY 2024)Full year 2025 results: EPS: NT$1.87 (down from NT$2.32 in FY 2024). Revenue: NT$2.47b (down 1.7% from FY 2024). Net income: NT$228.7m (down 19% from FY 2024). Profit margin: 9.2% (down from 11% in FY 2024). Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings.
공시 • Mar 09Ta-Yuan Cogeneration Company Ltd., Annual General Meeting, May 26, 2026Ta-Yuan Cogeneration Company Ltd., Annual General Meeting, May 26, 2026. Location: no,276, ch`ao yin n. rd., dayuan dist., taoyuan city Taiwan
Reported Earnings • Nov 06Third quarter 2025 earnings released: EPS: NT$0.40 (vs NT$0.71 in 3Q 2024)Third quarter 2025 results: EPS: NT$0.40 (down from NT$0.71 in 3Q 2024). Revenue: NT$692.3m (up 2.1% from 3Q 2024). Net income: NT$49.0m (down 44% from 3Q 2024). Profit margin: 7.1% (down from 13% in 3Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 15% per year, which means it is well ahead of earnings.
Reported Earnings • Aug 06Second quarter 2025 earnings released: EPS: NT$0.70 (vs NT$0.58 in 2Q 2024)Second quarter 2025 results: EPS: NT$0.70 (up from NT$0.58 in 2Q 2024). Revenue: NT$595.5m (down 3.1% from 2Q 2024). Net income: NT$85.6m (up 21% from 2Q 2024). Profit margin: 14% (up from 12% in 2Q 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 21% per year, which means it is tracking significantly ahead of earnings growth.
Upcoming Dividend • Jul 23Upcoming dividend of NT$2.00 per shareEligible shareholders must have bought the stock before 30 July 2025. Payment date: 28 August 2025. Payout ratio is on the higher end at 75% but the company is not cash flow positive. Trailing yield: 3.8%. Lower than top quartile of Taiwanese dividend payers (5.3%). Higher than average of industry peers (2.9%).
Declared Dividend • May 31Dividend reduced to NT$2.00Dividend of NT$2.00 is 4.8% lower than last year. Ex-date: 30th July 2025 Payment date: 28th August 2025 Dividend yield will be 3.7%, which is higher than the industry average of 1.9%. Sustainability & Growth Dividend is covered by earnings (75% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 16% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 14% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover.
Reported Earnings • May 08First quarter 2025 earnings released: EPS: NT$0.74 (vs NT$0.41 in 1Q 2024)First quarter 2025 results: EPS: NT$0.74 (up from NT$0.41 in 1Q 2024). Revenue: NT$619.3m (up 8.1% from 1Q 2024). Net income: NT$90.3m (up 81% from 1Q 2024). Profit margin: 15% (up from 8.7% in 1Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has increased by 17% per year, which means it is tracking significantly ahead of earnings growth.
공시 • May 01Ta-Yuan Cogeneration Company Ltd. to Report Q1, 2025 Results on May 07, 2025Ta-Yuan Cogeneration Company Ltd. announced that they will report Q1, 2025 results on May 07, 2025
New Risk • Apr 02New major risk - Financial positionThe company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 19% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (19% operating cash flow to total debt). Dividend is not well covered by earnings and cash flows. Payout ratio: 98% Paying a dividend despite having no free cash flows.
공시 • Mar 13Ta-Yuan Cogeneration Company Ltd., Annual General Meeting, May 28, 2025Ta-Yuan Cogeneration Company Ltd., Annual General Meeting, May 28, 2025, at 09:00 Taipei Standard Time. Location: no,276, ch`ao yin n. rd., dayuan dist., taoyuan city Taiwan
공시 • Mar 01Ta-Yuan Cogeneration Company Ltd. to Report Q4, 2024 Results on Mar 07, 2025Ta-Yuan Cogeneration Company Ltd. announced that they will report Q4, 2024 results on Mar 07, 2025
New Risk • Dec 16New major risk - Financial data availabilityThe company has not reported any financial data. This is considered a major risk. With no or incomplete audited reported financial data, it is virtually impossible to assess the company's investment potential. Currently, the following risks have been identified for the company: Major Risk No financial data reported. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past.
공시 • Oct 29Ta-Yuan Cogeneration Company Ltd. to Report Q3, 2024 Results on Nov 05, 2024Ta-Yuan Cogeneration Company Ltd. announced that they will report Q3, 2024 results on Nov 05, 2024
Reported Earnings • Aug 17Second quarter 2024 earnings: EPS and revenues miss analyst expectationsSecond quarter 2024 results: EPS: NT$0.58 (up from NT$0.33 in 2Q 2023). Revenue: NT$614.8m (down 6.9% from 2Q 2023). Net income: NT$71.0m (up 77% from 2Q 2023). Profit margin: 12% (up from 6.1% in 2Q 2023). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 17%. Earnings per share (EPS) also missed analyst estimates by 9.4%. Revenue is forecast to grow 19% p.a. on average during the next 2 years, compared to a 10.0% growth forecast for the Renewable Energy industry in Asia. Over the last 3 years on average, earnings per share has increased by 20% per year whereas the company’s share price has increased by 18% per year.
공시 • Jul 31Ta-Yuan Cogeneration Company Ltd. Announces Change in Representative of the Its Institutional Director, Effective August 1, 2024Ta-Yuan Cogeneration Company Ltd. announced change in representative of the Company's institutional director. Name of the previous position holder: Yi-Tong Chen. Resume of the previous position holder: General Manager of Taiwan Cogeneration Corporation. Name of the new position holder: Tien-Te Cheng. Resume of the new position holder: Professional Chief Engineer of Taiwan Power Company. Reason for the change: Taiwan Cogeneration Corporation assigned a new representative to serve as institutional director. Effective date of the new appointment: August 1, 2024.
공시 • Jul 30Ta-Yuan Cogeneration Company Ltd. to Report Q2, 2024 Results on Aug 06, 2024Ta-Yuan Cogeneration Company Ltd. announced that they will report Q2, 2024 results on Aug 06, 2024
Upcoming Dividend • Jul 18Upcoming dividend of NT$2.10 per shareEligible shareholders must have bought the stock before 25 July 2024. Payment date: 26 August 2024. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 3.9%. Lower than top quartile of Taiwanese dividend payers (4.2%). Higher than average of industry peers (2.2%).
공시 • May 30Ta-Yuan Cogeneration Company Ltd. Approves Cash Dividend, Payable on August 26, 2024Ta-Yuan Cogeneration Company Ltd. approved the cash dividend of TWD 256,735,210. Ex-rights (Ex-dividend) date is July 25, 2024. Ex-rights (Ex-dividend) record date is July 31, 2024. Payment date of cash dividend distribution on August 26, 2024. Date of the resolution by the board of directors or shareholders meeting, or of the decision by the company: May 29, 2024.
Reported Earnings • May 19First quarter 2024 earnings: EPS exceeds analyst expectations while revenues lag behindFirst quarter 2024 results: EPS: NT$0.41 (down from NT$0.78 in 1Q 2023). Revenue: NT$572.9m (down 28% from 1Q 2023). Net income: NT$49.8m (down 48% from 1Q 2023). Profit margin: 8.7% (down from 12% in 1Q 2023). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 4.8%. Earnings per share (EPS) exceeded analyst estimates by 52%. Revenue is forecast to grow 16% p.a. on average during the next 2 years, compared to a 9.2% growth forecast for the Renewable Energy industry in Asia. Over the last 3 years on average, earnings per share has increased by 25% per year whereas the company’s share price has increased by 21% per year.
공시 • May 09Ta-Yuan Cogeneration Company Ltd. Announces Chairman ChangesTa-Yuan Cogeneration Company Ltd. announced Chairman changes. Name of the previous position holder: Shih-Yang Chang(deputy chairman). Resume of the previous position holder: General manager and director of Ta-Yuan Cogeneration Corporation. Name of the new position holder: Yi-Tung Chen 6.Resume of the new position holder: General manager of Taiwan Cogeneration Corporation. Reason for the change: The seventh meeting of the 11th Board of Directors to elect Yi-Tung Chen director as Chairman on May 8, 2024. Effective date of the new appointment: May 8, 2024.
Buy Or Sell Opportunity • Apr 15Now 21% overvalued after recent price riseOver the last 90 days, the stock has risen 7.5% to NT$51.30. The fair value is estimated to be NT$42.50, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 21% over the last 3 years. Earnings per share has grown by 31%. Revenue is forecast to grow by 24% in 2 years. Earnings are forecast to grow by 37% in the next 2 years.
Reported Earnings • Mar 17Full year 2023 earnings: EPS misses analyst expectationsFull year 2023 results: EPS: NT$2.32 (down from NT$3.01 in FY 2022). Revenue: NT$2.72b (down 5.0% from FY 2022). Net income: NT$283.3m (down 23% from FY 2022). Profit margin: 10% (down from 13% in FY 2022). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 2.1%. Revenue is forecast to grow 10% p.a. on average during the next 2 years, compared to a 9.4% growth forecast for the Renewable Energy industry in Asia. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth.
공시 • Mar 06Ta-Yuan Cogeneration Company Ltd., Annual General Meeting, May 29, 2024Ta-Yuan Cogeneration Company Ltd., Annual General Meeting, May 29, 2024. Location: No. 276, Chaoyin N. Rd.Dayuan Dist Taoyuan City Taiwan Agenda: To consider and approve the 2023 business report; to consider and approve the 2023 Audit Committee's review report; to consider and approve the Report on 2023 employees remuneration; to consider and approve the other matters of business.
Valuation Update With 7 Day Price Move • Feb 22Investor sentiment improves as stock rises 19%After last week's 19% share price gain to NT$58.60, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 10x in the Renewable Energy industry in Asia. Total returns to shareholders of 124% over the past three years.
Board Change • Jan 17Less than half of directors are independentFollowing the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Chih-Liang Lee was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
공시 • Jan 16Ta-Yuan Cogeneration Company Ltd. Announces the Change of ChairpersonTa-Yuan Cogeneration Company Ltd. announced the change of chairperson. Name of the previous position holder: Chung-Cheng Lee. Resume of the previous position holder: Unpaid consultant of Taiwan Cogeneration Corporation. Name of the new position holder: Shih-Yang Chang 6.Resume of the new position holder: General manager and director of Ta-Yuan Cogeneration Corporation Reason for the change: Taiwan Cogeneration Corporation assigned a new representative to serve as institutional director and held the fifth meeting of the 11th Board of Directors to elect Shih-Yang Chang director as Acting Chairman on January 15, 2024. Effective date of the new appointment: January 15, 2024.
Valuation Update With 7 Day Price Move • Nov 20Investor sentiment improves as stock rises 16%After last week's 16% share price gain to NT$49.70, the stock trades at a trailing P/E ratio of 16.4x. Average trailing P/E is 17x in the Renewable Energy industry in Taiwan. Total returns to shareholders of 87% over the past three years.
Reported Earnings • Aug 04Second quarter 2023 earnings released: EPS: NT$0.33 (vs NT$0.40 in 2Q 2022)Second quarter 2023 results: EPS: NT$0.33 (down from NT$0.40 in 2Q 2022). Revenue: NT$660.3m (up 15% from 2Q 2022). Net income: NT$40.1m (down 18% from 2Q 2022). Profit margin: 6.1% (down from 8.5% in 2Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has only increased by 24% per year, which means it is significantly lagging earnings growth.
공시 • Aug 02+ 1 more updateTa-Yuan Cogeneration Company Ltd. Announces Remuneration Committee ChangesTa-Yuan Cogeneration Company Ltd. announced members of the company’s 5nd Remuneration Committee. .Name of the previous position holder: Independent director: Kua-Teng Su and Independent director: Chun-Tsai Hung. Resume of the previous position holder: Kua-Teng Su/Adjunct professor, National Chengchi University and Chun-Tsai Hung/General manager, Sun Favorite Co. Ltd. Name of the new position holder: Independent director: Chih-liang Lee and Independent director: Yung-Jen Huang. Resume of the new position holder: Chih-liang Lee/General manager, Cheng Loong Binh Duong Paper Co. Ltd. and Yung-Jen Huang/Director, Taoyuan Private Baby Potential Development Center. Reason for the change: Appointed by the board of directors after the expiration of the term. date of the new member: August 1, 2023.
Upcoming Dividend • Jun 20Upcoming dividend of NT$2.50 per share at 3.8% yieldEligible shareholders must have bought the stock before 27 June 2023. Payment date: 25 July 2023. Payout ratio is a comfortable 68% and this is well supported by cash flows. Trailing yield: 3.8%. Lower than top quartile of Taiwanese dividend payers (5.5%). Higher than average of industry peers (1.9%).
Reported Earnings • Mar 26Full year 2022 earnings released: EPS: NT$3.01 (vs NT$1.39 in FY 2021)Full year 2022 results: EPS: NT$3.01 (up from NT$1.39 in FY 2021). Revenue: NT$2.86b (up 43% from FY 2021). Net income: NT$368.1m (up 116% from FY 2021). Profit margin: 13% (up from 8.5% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has increased by 42% per year, which means it is tracking significantly ahead of earnings growth.
Valuation Update With 7 Day Price Move • Mar 23Investor sentiment improves as stock rises 16%After last week's 16% share price gain to NT$69.40, the stock trades at a trailing P/E ratio of 37x. Average trailing P/E is 28x in the Renewable Energy industry in Taiwan. Total returns to shareholders of 234% over the past three years.
Valuation Update With 7 Day Price Move • Feb 06Investor sentiment improves as stock rises 16%After last week's 16% share price gain to NT$53.00, the stock trades at a trailing P/E ratio of 28.2x. Average trailing P/E is 26x in the Renewable Energy industry in Taiwan. Total returns to shareholders of 117% over the past three years.
Board Change • Nov 16Less than half of directors are independentFollowing the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 5 non-independent directors. Independent Director Guang-Yu Li was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
Reported Earnings • Nov 11Third quarter 2022 earnings released: EPS: NT$1.38 (vs NT$0.48 in 3Q 2021)Third quarter 2022 results: EPS: NT$1.38 (up from NT$0.48 in 3Q 2021). Revenue: NT$900.2m (up 51% from 3Q 2021). Net income: NT$168.9m (up 187% from 3Q 2021). Profit margin: 19% (up from 9.9% in 3Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 5% per year whereas the company’s share price has increased by 9% per year.
Buying Opportunity • Sep 26Now 22% undervaluedThe stock has been flat over the last 90 days. The fair value is estimated to be NT$38.74, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.8% over the last 3 years. Earnings per share has grown by 3.4%.
Buying Opportunity • Sep 06Now 20% undervaluedOver the last 90 days, the stock is up 2.0%. The fair value is estimated to be NT$38.74, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.8% over the last 3 years. Earnings per share has grown by 3.4%.
Reported Earnings • Aug 15Second quarter 2022 earnings released: EPS: NT$0.40 (vs NT$0.60 in 2Q 2021)Second quarter 2022 results: EPS: NT$0.40 (down from NT$0.60 in 2Q 2021). Revenue: NT$575.4m (up 11% from 2Q 2021). Net income: NT$48.8m (down 33% from 2Q 2021). Profit margin: 8.5% (down from 14% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has increased by 4% per year.
Upcoming Dividend • Jul 14Upcoming dividend of NT$1.50 per shareEligible shareholders must have bought the stock before 21 July 2022. Payment date: 25 August 2022. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 5.1%. Lower than top quartile of Taiwanese dividend payers (6.8%). Higher than average of industry peers (3.0%).
공시 • Jun 17+ 2 more updatesTa-Yuan Cogeneration Company Ltd. Announces Company's New Audit Committee MemberTa-Yuan Cogeneration Company Ltd. announced appointment of Company's new Audit committee member. Name of the new position holder is GUANG-YU LI. Resume of the new position holder: The manager of industrial paper's production and sales in Cheng Loong Corp. Effective date of the new member is June 16, 2022.
Buying Opportunity • Jun 09Now 20% undervalued after recent price dropOver the last 90 days, the stock is down 3.7%. The fair value is estimated to be NT$37.91, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.0% over the last 3 years. Earnings per share has grown by 8.5%.
Buying Opportunity • May 17Now 20% undervalued after recent price dropOver the last 90 days, the stock is down 4.1%. The fair value is estimated to be NT$38.42, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.0% over the last 3 years. Earnings per share has grown by 8.6%.
Reported Earnings • May 05First quarter 2022 earnings released: EPS: NT$0.09 (vs NT$0.31 in 1Q 2021)First quarter 2022 results: EPS: NT$0.09 (down from NT$0.31 in 1Q 2021). Revenue: NT$457.8m (up 14% from 1Q 2021). Net income: NT$10.4m (down 72% from 1Q 2021). Profit margin: 2.3% (down from 9.3% in 1Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 9% per year and the company’s share price has also increased by 9% per year.
Board Change • Apr 27Less than half of directors are independentFollowing the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 5 non-independent directors. Independent Director Chun-Tsai Hung was the last independent director to join the board, commencing their role in 2017. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
Reported Earnings • Mar 13Full year 2021 earnings: Revenues and EPS in line with analyst expectationsFull year 2021 results: EPS: NT$1.39 (down from NT$1.49 in FY 2020). Revenue: NT$2.00b (up 8.4% from FY 2020). Net income: NT$170.4m (down 6.5% from FY 2020). Profit margin: 8.5% (down from 9.9% in FY 2020). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 13% per year whereas the company’s share price has increased by 10% per year.
공시 • Feb 18+ 2 more updatesTa-Yuan Cogeneration Company Ltd. Announces Demise of Bao-Guang Chang, Convener of Audit CommitteeTa-Yuan Cogeneration Company Ltd. announced the demise of Bao-Guang Chang, convener of Audit Committee.
Reported Earnings • Nov 05Third quarter 2021 earnings released: EPS NT$0.48 (vs NT$0.54 in 3Q 2020)The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: NT$596.2m (up 22% from 3Q 2020). Net income: NT$58.8m (down 10% from 3Q 2020). Profit margin: 9.9% (down from 13% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 17% per year whereas the company’s share price has increased by 15% per year.
Reported Earnings • Aug 05Second quarter 2021 earnings released: EPS NT$0.60 (vs NT$0.22 in 2Q 2020)The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: NT$518.1m (up 11% from 2Q 2020). Net income: NT$72.9m (up 175% from 2Q 2020). Profit margin: 14% (up from 5.7% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 16% per year whereas the company’s share price has increased by 12% per year.
Upcoming Dividend • Aug 05Upcoming dividend of NT$1.40 per shareEligible shareholders must have bought the stock before 12 August 2021. Payment date: 08 September 2021. Trailing yield: 4.4%. Lower than top quartile of Taiwanese dividend payers (4.9%). Higher than average of industry peers (3.6%).
Reported Earnings • May 09First quarter 2021 earnings released: EPS NT$0.31 (vs NT$0.37 in 1Q 2020)The company reported a poor first quarter result with weaker earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$403.0m (down 3.3% from 1Q 2020). Net income: NT$37.4m (down 17% from 1Q 2020). Profit margin: 9.3% (down from 11% in 1Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth.
Reported Earnings • Mar 18Full year 2020 earnings released: EPS NT$1.49 (vs NT$1.20 in FY 2019)The company reported a solid full year result with improved earnings and revenues, although profit margins were flat. Full year 2020 results: Revenue: NT$1.84b (up 13% from FY 2019). Net income: NT$182.2m (up 24% from FY 2019). Profit margin: 9.9% (in line with FY 2019). Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth.
분석 기사 • Feb 25These 4 Measures Indicate That Ta-Yuan Cogeneration (GTSM:8931) Is Using Debt ExtensivelyWarren Buffett famously said, 'Volatility is far from synonymous with risk.' So it seems the smart money knows that...
분석 기사 • Jan 28Shareholders Of Ta-Yuan Cogeneration (GTSM:8931) Must Be Happy With Their 80% ReturnIf you buy and hold a stock for many years, you'd hope to be making a profit. Better yet, you'd like to see the share...
분석 기사 • Dec 17Here’s What’s Happening With Returns At Ta-Yuan Cogeneration (GTSM:8931)If we want to find a stock that could multiply over the long term, what are the underlying trends we should look for...
분석 기사 • Nov 18Ta-Yuan Cogeneration's (GTSM:8931) Earnings Are Growing But Is There More To The Story?It might be old fashioned, but we really like to invest in companies that make a profit, each and every year. Having...
Is New 90 Day High Low • Nov 14New 90-day high: NT$29.70The company is up 6.0% from its price of NT$28.00 on 14 August 2020. The Taiwanese market is up 3.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Renewable Energy industry, which is up 7.0% over the same period.
Reported Earnings • Nov 05Third quarter 2020 earnings released: EPS NT$0.54The company reported a solid third quarter result with improved earnings and revenues, although profit margins were flat. Third quarter 2020 results: Revenue: NT$488.9m (up 18% from 3Q 2019). Net income: NT$65.4m (up 17% from 3Q 2019). Profit margin: 13% (in line with 3Q 2019). Over the last 3 years on average, earnings per share has increased by 15% per year whereas the company’s share price has increased by 13% per year.
Is New 90 Day High Low • Oct 30New 90-day high: NT$29.35The company is up 6.0% from its price of NT$27.70 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 Renewable Energy industry, which is up 1.0% over the same period.
