Price Target Changed • May 29
Price target decreased by 11% to NT$90.88 Down from NT$102, the current price target is an average from 8 analysts. New target price is 31% above last closing price of NT$69.30. Stock is down 42% over the past year. The company is forecast to post earnings per share of NT$4.34 for next year compared to NT$1.84 last year. Major Estimate Revision • May 28
Consensus EPS estimates fall by 16% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has deteriorated. 2026 revenue forecast decreased from NT$63.3b to NT$62.1b. EPS estimate also fell from NT$6.50 per share to NT$5.48 per share. Net income forecast to grow 1,615% next year vs 37% growth forecast for Leisure industry in Taiwan. Consensus price target down from NT$102 to NT$99.63. Share price fell 3.7% to NT$68.20 over the past week. Reported Earnings • May 18
First quarter 2026 earnings: EPS and revenues miss analyst expectations First quarter 2026 results: NT$0.51 loss per share (down from NT$0.94 profit in 1Q 2025). Revenue: NT$12.5b (down 26% from 1Q 2025). Net loss: NT$199.8m (down 154% from profit in 1Q 2025). Revenue missed analyst estimates by 22%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to grow 9.4% p.a. on average during the next 2 years, compared to a 9.1% growth forecast for the Leisure industry in Asia. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 48 percentage points per year, which is a significant difference in performance. New Risk • May 17
New major risk - Revenue and earnings growth Earnings have declined by 38% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 38% per year over the past 5 years. Minor Risks Dividend is not well covered by earnings (98% payout ratio). Profit margins are more than 30% lower than last year (1.2% net profit margin). Valuation Update With 7 Day Price Move • May 15
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$76.90, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 10x in the Leisure industry in Taiwan. Total loss to shareholders of 58% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$114 per share. Reported Earnings • Mar 28
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: EPS: NT$1.84 (down from NT$3.22 in FY 2024). Revenue: NT$60.3b (down 16% from FY 2024). Net income: NT$723.3m (down 43% from FY 2024). Profit margin: 1.2% (down from 1.8% in FY 2024). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 34%. Revenue is forecast to grow 5.3% p.a. on average during the next 2 years, compared to a 9.0% growth forecast for the Leisure industry in Asia. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 46 percentage points per year, which is a significant difference in performance. Aankondiging • Mar 16
Giant Manufacturing Co., Ltd., Annual General Meeting, Jun 18, 2026 Giant Manufacturing Co., Ltd., Annual General Meeting, Jun 18, 2026. Location: no,999, sec.1 tung ta rd., hsi tun district, taichung city Taiwan Price Target Changed • Mar 14
Price target decreased by 9.1% to NT$102 Down from NT$113, the current price target is an average from 9 analysts. New target price is 44% above last closing price of NT$71.00. Stock is down 55% over the past year. The company is forecast to post earnings per share of NT$2.98 for next year compared to NT$3.22 last year. Major Estimate Revision • Feb 03
Consensus EPS estimates fall by 53% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from NT$65.8b to NT$60.3b. EPS estimate also fell from NT$5.76 per share to NT$2.72 per share. Net income forecast to grow 566,561% next year vs 20% growth forecast for Leisure industry in Taiwan. Consensus price target down from NT$120 to NT$117. Share price was steady at NT$93.00 over the past week. Major Estimate Revision • Jan 13
Consensus EPS estimates fall by 40% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from NT$64.3b to NT$60.3b. EPS estimate also fell from NT$4.57 per share to NT$2.72 per share. Net income forecast to grow 566,561% next year vs 15% growth forecast for Leisure industry in Taiwan. Consensus price target broadly unchanged at NT$120. Share price rose 3.3% to NT$90.50 over the past week. Buy Or Sell Opportunity • Nov 28
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 3.8% to NT$101. The fair value is estimated to be NT$127, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 13% over the last 3 years. Earnings per share has declined by 70%. Revenue is forecast to grow by 17% in 2 years. Earnings are forecast to grow by 821,634% in the next 2 years. Reported Earnings • Nov 13
Third quarter 2025 earnings: EPS and revenues miss analyst expectations Third quarter 2025 results: EPS: NT$0.89 (down from NT$1.27 in 3Q 2024). Revenue: NT$15.4b (down 25% from 3Q 2024). Net income: NT$350.0m (down 30% from 3Q 2024). Profit margin: 2.3% (down from 2.4% in 3Q 2024). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 4.2%. Earnings per share (EPS) also missed analyst estimates by 41%. Revenue is forecast to grow 7.3% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Leisure industry in Taiwan. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 44 percentage points per year, which is a significant difference in performance. Buy Or Sell Opportunity • Nov 04
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 13% to NT$99.60. The fair value is estimated to be NT$125, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 11% over the last 3 years. Earnings per share has declined by 59%. Revenue is forecast to grow by 7.3% in 2 years. Earnings are forecast to grow by 1,862% in the next 2 years. Buy Or Sell Opportunity • Oct 01
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 18% to NT$93.10. The fair value is estimated to be NT$117, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 11% over the last 3 years. Earnings per share has declined by 59%. Revenue is forecast to grow by 7.3% in 2 years. Earnings are forecast to grow by 1,862% in the next 2 years. Major Estimate Revision • Sep 29
Consensus EPS estimates increase by 32% The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate increased from NT$3.52 to NT$4.63. Revenue forecast steady at NT$67.2b. Net income forecast to grow 1,281% next year vs 3.1% growth forecast for Leisure industry in Taiwan. Consensus price target broadly unchanged at NT$125. Share price fell 5.9% to NT$95.50 over the past week. Buy Or Sell Opportunity • Sep 09
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 10% to NT$103. The fair value is estimated to be NT$130, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 11% over the last 3 years. Earnings per share has declined by 59%. Revenue is forecast to grow by 8.5% in 2 years. Earnings are forecast to grow by 1,862% in the next 2 years. Price Target Changed • Aug 21
Price target decreased by 8.4% to NT$127 Down from NT$139, the current price target is an average from 9 analysts. New target price is 22% above last closing price of NT$104. Stock is down 56% over the past year. The company is forecast to post earnings per share of NT$3.52 for next year compared to NT$3.22 last year. Upcoming Dividend • Aug 19
Upcoming dividend of NT$2.20 per share Eligible shareholders must have bought the stock before 26 August 2025. Payment date: 18 September 2025. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 2.1%. Lower than top quartile of Taiwanese dividend payers (5.3%). Lower than average of industry peers (3.7%). Buy Or Sell Opportunity • Aug 18
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 13% to NT$107. The fair value is estimated to be NT$135, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 11% over the last 3 years. Earnings per share has declined by 59%. Revenue is forecast to grow by 10% in 2 years. Earnings are forecast to grow by 1,980% in the next 2 years. Reported Earnings • Aug 14
Second quarter 2025 earnings: EPS and revenues miss analyst expectations Second quarter 2025 results: EPS: NT$0.48 (down from NT$2.94 in 2Q 2024). Revenue: NT$15.8b (down 26% from 2Q 2024). Net income: NT$189.9m (down 84% from 2Q 2024). Profit margin: 1.2% (down from 5.4% in 2Q 2024). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 18%. Earnings per share (EPS) also missed analyst estimates by 69%. Revenue is forecast to grow 4.6% p.a. on average during the next 3 years, compared to a 5.6% growth forecast for the Leisure industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 59% per year but the company’s share price has only fallen by 26% per year, which means it has not declined as severely as earnings. Declared Dividend • Aug 01
Dividend reduced to NT$2.20 Dividend of NT$2.20 is 56% lower than last year. Ex-date: 26th August 2025 Payment date: 18th September 2025 Dividend yield will be 1.9%, which is lower than the industry average of 5.0%. Sustainability & Growth Dividend is covered by both earnings (78% earnings payout ratio) and cash flows (11% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 163% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Price Target Changed • May 28
Price target decreased by 8.6% to NT$144 Down from NT$158, the current price target is an average from 9 analysts. New target price is 20% above last closing price of NT$121. Stock is down 46% over the past year. The company is forecast to post earnings per share of NT$7.08 for next year compared to NT$3.22 last year. Major Estimate Revision • May 27
Consensus EPS estimates increase by 13% The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate increased from NT$6.07 to NT$6.86. Revenue forecast steady at NT$71.9b. Net income forecast to grow 136% next year vs 1.5% decline forecast for Leisure industry in Taiwan. Consensus price target down from NT$158 to NT$148. Share price fell 2.9% to NT$119 over the past week. Price Target Changed • May 26
Price target decreased by 7.8% to NT$148 Down from NT$160, the current price target is an average from 9 analysts. New target price is 23% above last closing price of NT$120. Stock is down 45% over the past year. The company is forecast to post earnings per share of NT$6.93 for next year compared to NT$3.22 last year. Price Target Changed • May 17
Price target decreased by 8.2% to NT$158 Down from NT$172, the current price target is an average from 9 analysts. New target price is 28% above last closing price of NT$123. Stock is down 44% over the past year. The company is forecast to post earnings per share of NT$6.07 for next year compared to NT$3.22 last year. Reported Earnings • May 15
First quarter 2025 earnings: EPS misses analyst expectations First quarter 2025 results: EPS: NT$0.94 (down from NT$1.33 in 1Q 2024). Revenue: NT$16.9b (up 4.9% from 1Q 2024). Net income: NT$367.6m (down 29% from 1Q 2024). Profit margin: 2.2% (down from 3.2% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 19%. Revenue is forecast to grow 4.3% p.a. on average during the next 3 years, compared to a 6.8% growth forecast for the Leisure industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 48% per year but the company’s share price has only fallen by 18% per year, which means it has not declined as severely as earnings. Major Estimate Revision • May 10
Consensus EPS estimates fall by 14% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from NT$73.8b to NT$72.4b. EPS estimate also fell from NT$8.10 per share to NT$6.92 per share. Net income forecast to grow 135% next year vs 3.2% growth forecast for Leisure industry in Taiwan. Consensus price target down from NT$172 to NT$165. Share price was steady at NT$129 over the past week. Aankondiging • May 01
Giant Manufacturing Co., Ltd. to Report Q1, 2025 Results on May 09, 2025 Giant Manufacturing Co., Ltd. announced that they will report Q1, 2025 results on May 09, 2025 Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to NT$117, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 14x in the Leisure industry in Taiwan. Total loss to shareholders of 51% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$69.76 per share. Reported Earnings • Apr 01
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: EPS: NT$3.22 (down from NT$8.68 in FY 2023). Revenue: NT$71.3b (down 7.4% from FY 2023). Net income: NT$1.26b (down 63% from FY 2023). Profit margin: 1.8% (down from 4.4% in FY 2023). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 1.7%. Earnings per share (EPS) also missed analyst estimates by 48%. Revenue is forecast to grow 4.8% p.a. on average during the next 2 years, compared to a 7.2% growth forecast for the Leisure industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 40% per year but the company’s share price has only fallen by 17% per year, which means it has not declined as severely as earnings. Aankondiging • Mar 19
Giant Manufacturing Co., Ltd., Annual General Meeting, Jun 23, 2025 Giant Manufacturing Co., Ltd., Annual General Meeting, Jun 23, 2025, at 09:00 Taipei Standard Time. Location: no,999, sec.1 tung ta rd., hsi tun district, taichung city Taiwan Aankondiging • Mar 07
Giant Manufacturing Co., Ltd. to Report Q4, 2024 Results on Mar 14, 2025 Giant Manufacturing Co., Ltd. announced that they will report Q4, 2024 results on Mar 14, 2025 Price Target Changed • Nov 27
Price target decreased by 13% to NT$187 Down from NT$216, the current price target is an average from 9 analysts. New target price is 25% above last closing price of NT$150. Stock is down 19% over the past year. The company is forecast to post earnings per share of NT$6.60 for next year compared to NT$8.68 last year. Major Estimate Revision • Nov 20
Consensus EPS estimates fall by 16% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from NT$74.4b to NT$73.2b. EPS estimate also fell from NT$7.53 per share to NT$6.32 per share. Net income forecast to grow 40% next year vs 23% growth forecast for Leisure industry in Taiwan. Consensus price target down from NT$216 to NT$202. Share price fell 5.7% to NT$149 over the past week. Reported Earnings • Nov 17
Third quarter 2024 earnings: EPS and revenues miss analyst expectations Third quarter 2024 results: EPS: NT$1.27 (down from NT$2.81 in 3Q 2023). Revenue: NT$20.5b (up 4.8% from 3Q 2023). Net income: NT$498.9m (down 55% from 3Q 2023). Profit margin: 2.4% (down from 5.6% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 1.4%. Earnings per share (EPS) also missed analyst estimates by 24%. Revenue is forecast to grow 8.4% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Leisure industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 32% per year but the company’s share price has only fallen by 21% per year, which means it has not declined as severely as earnings. Price Target Changed • Nov 09
Price target decreased by 8.5% to NT$225 Down from NT$246, the current price target is an average from 10 analysts. New target price is 27% above last closing price of NT$178. Stock is up 5.3% over the past year. The company is forecast to post earnings per share of NT$7.78 for next year compared to NT$8.68 last year. Major Estimate Revision • Nov 09
Consensus EPS estimates fall by 11% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from NT$75.6b to NT$74.4b. EPS estimate also fell from NT$8.73 per share to NT$7.78 per share. Net income forecast to grow 26% next year vs 33% growth forecast for Leisure industry in Taiwan. Consensus price target down from NT$246 to NT$225. Share price was steady at NT$178 over the past week. Upcoming Dividend • Aug 16
Upcoming dividend of NT$5.00 per share Eligible shareholders must have bought the stock before 23 August 2024. Payment date: 19 September 2024. Payout ratio is a comfortable 64% and this is well supported by cash flows. Trailing yield: 2.1%. Lower than top quartile of Taiwanese dividend payers (4.4%). Lower than average of industry peers (2.7%). Reported Earnings • Aug 15
Second quarter 2024 earnings: EPS exceeds analyst expectations Second quarter 2024 results: EPS: NT$2.94 (down from NT$3.02 in 2Q 2023). Revenue: NT$21.2b (down 5.8% from 2Q 2023). Net income: NT$1.15b (down 2.5% from 2Q 2023). Profit margin: 5.4% (up from 5.3% in 2Q 2023). The increase in margin was driven by lower expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 17%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 9.6% growth forecast for the Leisure industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 27% 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. Aankondiging • Aug 10
Giant Manufacturing Co., Ltd. Announces Remuneration Committee Member Changes Giant Manufacturing Co., Ltd. announced Company's Sixth Remuneration Committee member. Name of the previous position holder: CHEN, HONG-SO (Hilo Chen); LO, JUI-LIN; HO, CHUN-SHENG (Chaney Ho). Resume of the previous position holder: CHEN, HONG-SO (Hilo Chen) Independent Director of YAGEO CORPORATION & momo.com Inc. LO, JUI-LIN Independent Director of TAIWAN PAIHO LIMITED. HO, CHUN-SHENG (Chaney Ho) Director of Advantech Co., Ltd. Name of the new position holder: HO, CHUN-SHENG (Chaney Ho);
TSOU, KAI-LIEN (Rose Tsou); CHANG, CHI-WEN (Dora Chang). Resume of the new position holder: HO, CHUN-SHENG (Chaney Ho) Director of Advantech Co., Ltd. TSOU, KAI-LIEN (Rose Tsou) Chairman of Fuen Investment Co., Ltd.? independent director of Sercomm Corporation and Delta Electronics Inc. CHANG, CHI-WEN(Dora Chang) Chairman of Shamrock Holdings Company? Director of Posiflex Technology Inc.?Senior Advisor of Blackstone. Reason for the change is Tenure expired. Effective date of the new member is August 9, 2024. Aankondiging • Aug 02
Giant Manufacturing Co., Ltd. to Report First Half, 2024 Results on Aug 09, 2024 Giant Manufacturing Co., Ltd. announced that they will report first half, 2024 results on Aug 09, 2024 Declared Dividend • Jul 29
Dividend reduced to NT$5.00 Dividend of NT$5.00 is 36% lower than last year. Ex-date: 23rd August 2024 Payment date: 19th September 2024 Dividend yield will be 2.2%, which is lower than the industry average of 5.0%. Sustainability & Growth Dividend is covered by both earnings (64% earnings payout ratio) and cash flows (16% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 76% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Aankondiging • Jul 27
Giant Manufacturing Co., Ltd. Announces Cash Dividend, Payable on September 19, 2024 The Board of Directors of Giant Manufacturing Co., Ltd. announced cash dividends of TWD 5 per share, total amount to TWD 1,960,323,130. Payment date of cash dividend distribution: September 19, 2024. Ex-rights (ex-dividend) trading date: August 23, 2024. Record date: 31 August 2024. Major Estimate Revision • Jul 02
Consensus EPS estimates fall by 10%, revenue upgraded The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast increased from NT$75.2b to NT$76.6b. EPS estimate fell from NT$9.30 to NT$8.36 per share. Net income forecast to grow 18% next year vs 24% growth forecast for Leisure industry in Taiwan. Consensus price target of NT$250 unchanged from last update. Share price fell 5.5% to NT$205 over the past week. Aankondiging • Jun 24
Giant Manufacturing Co., Ltd. Approves Change of Audit Committee Giant Manufacturing Co., Ltd. appointed TSOU, KAI-LIEN (Rose Tsou), Chairman of Fuen Investment Co., Ltd.?B independent director of Sercomm Corporation and Delta Electronics Inc. and CHANG, CHI-WEN (Dora Chang), Chairman of Shamrock Holdings Company?B Director of Posiflex Technology Inc.?BSenior Advisor of Blackstone to the Audit Committee in place of CHEN, HONG-SO (Hilo Chen) LO, JUI-LIN HO. Effective date of the new member on June 21, 2024. Aankondiging • Jun 23
Giant Manufacturing Co., Ltd. Approves Change of Directors Giant Manufacturing Co., Ltd. appointed Director LIU, SU-CHUAN (Phoebe Liu) The Company - Chief Marketing Officer and GBD officer YANG, MENG-HSUEH(Marcel Yang) The Company- Specialist of Global TM?B Special Assistant of CEO Kinabalu Holding Company The Company ?V Director Yen Sing Investment Co., Ltd. The Company ?V Independent Director and Director of Advantech Co., Ltd. TSOU, KAI-LIEN (Rose Tsou) Chairman of Fuen Investment Co., Ltd.?B independent director of Sercomm Corporation and Delta Electronics Inc. CHANG, CHI-WEN(Dora Chang) Chairman of Shamrock Holdings Company?B Director of Posiflex Technology Inc.?BSenior Advisor of Blackstone as Directors in place of LIU,CHIN-PIAO (King Liu), YANG, HUAI-CHING, THO, TZU-CHIEN and LO, JUI-LIN. Effective date of the new appointment June 21, 2024. Reported Earnings • May 15
First quarter 2024 earnings: EPS exceeds analyst expectations First quarter 2024 results: EPS: NT$1.33 (down from NT$2.13 in 1Q 2023). Revenue: NT$16.1b (down 20% from 1Q 2023). Net income: NT$519.7m (down 38% from 1Q 2023). Profit margin: 3.2% (down from 4.2% in 1Q 2023). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 1.3%. Revenue is forecast to grow 7.7% p.a. on average during the next 3 years, compared to a 7.2% growth forecast for the Leisure industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. Aankondiging • May 05
Giant Manufacturing Co., Ltd. to Report Q1, 2024 Results on May 10, 2024 Giant Manufacturing Co., Ltd. announced that they will report Q1, 2024 results on May 10, 2024 Reported Earnings • Mar 28
Full year 2023 earnings: EPS misses analyst expectations Full year 2023 results: EPS: NT$8.68 (down from NT$15.51 in FY 2022). Revenue: NT$77.0b (down 16% from FY 2022). Net income: NT$3.40b (down 42% from FY 2022). Profit margin: 4.4% (down from 6.3% 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 2.3%. Revenue is forecast to grow 3.6% p.a. on average during the next 3 years, compared to a 5.2% growth forecast for the Leisure industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 15% per year whereas the company’s share price has fallen by 13% per year. Aankondiging • Mar 19
Giant Manufacturing Co., Ltd., Annual General Meeting, Jun 21, 2024 Giant Manufacturing Co., Ltd., Annual General Meeting, Jun 21, 2024. Buy Or Sell Opportunity • Feb 16
Now 30% overvalued after recent price rise Over the last 90 days, the stock has risen 16% to NT$202. The fair value is estimated to be NT$156, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 8.1% over the last 3 years. Earnings per share has declined by 6.4%. Revenue is forecast to grow by 1.2% in 2 years. Earnings are forecast to grow by 39% in the next 2 years. Buy Or Sell Opportunity • Jan 22
Now 21% overvalued The stock has been flat over the last 90 days, currently trading at NT$171. The fair value is estimated to be NT$141, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 8.1% over the last 3 years. Earnings per share has declined by 6.4%. Revenue is forecast to grow by 3.9% in 2 years. Earnings are forecast to grow by 46% in the next 2 years. Reported Earnings • Nov 15
Third quarter 2023 earnings: EPS exceeds analyst expectations while revenues lag behind Third quarter 2023 results: EPS: NT$2.81 (down from NT$5.35 in 3Q 2022). Revenue: NT$19.5b (down 25% from 3Q 2022). Net income: NT$1.10b (down 45% from 3Q 2022). Profit margin: 5.6% (down from 7.8% in 3Q 2022). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 3.8%. Earnings per share (EPS) exceeded analyst estimates by 6.9%. Revenue is forecast to grow 4.1% p.a. on average during the next 3 years, compared to a 2.4% growth forecast for the Leisure industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has fallen by 16% per year, which means it is performing significantly worse than earnings. Price Target Changed • Nov 13
Price target decreased by 7.1% to NT$219 Down from NT$235, the current price target is an average from 9 analysts. New target price is 33% above last closing price of NT$165. Stock is down 31% over the past year. The company is forecast to post earnings per share of NT$9.62 for next year compared to NT$15.51 last year. Upcoming Dividend • Aug 18
Upcoming dividend of NT$7.80 per share at 3.8% yield Eligible shareholders must have bought the stock before 25 August 2023. Payment date: 20 September 2023. Payout ratio is a comfortable 71% but the company is paying out more than the cash it is generating. Trailing yield: 3.8%. Lower than top quartile of Taiwanese dividend payers (5.6%). Lower than average of industry peers (4.7%). Reported Earnings • Aug 08
Second quarter 2023 earnings: EPS and revenues exceed analyst expectations Second quarter 2023 results: EPS: NT$3.02 (down from NT$4.81 in 2Q 2022). Revenue: NT$22.5b (down 1.2% from 2Q 2022). Net income: NT$1.18b (down 34% from 2Q 2022). Profit margin: 5.3% (down from 7.9% in 2Q 2022). The decrease in margin was primarily driven by higher expenses. Revenue exceeded analyst estimates by 4.9%. Earnings per share (EPS) also surpassed analyst estimates by 6.9%. Revenue is forecast to grow 4.4% p.a. on average during the next 3 years, compared to a 3.4% growth forecast for the Leisure industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Price Target Changed • Aug 05
Price target increased by 7.3% to NT$235 Up from NT$219, the current price target is an average from 10 analysts. New target price is 6.8% above last closing price of NT$220. Stock is down 11% over the past year. The company is forecast to post earnings per share of NT$9.81 for next year compared to NT$15.51 last year. Price Target Changed • Jul 31
Price target increased by 7.4% to NT$229 Up from NT$214, the current price target is an average from 10 analysts. New target price is approximately in line with last closing price of NT$232. Stock is down 5.1% over the past year. The company is forecast to post earnings per share of NT$9.94 for next year compared to NT$15.51 last year. Aankondiging • Jul 29
Giant Manufacturing Co., Ltd. Announces Cash Dividend, Payable on September 20, 2023 The Board of Directors of Giant Manufacturing Co., Ltd. announced cash dividends of TWD 7.8 per share. .Payment date of cash dividend distribution: September 20, 2023. Ex-dividend: August 25, 2023. Record date: September 02, 2023. New Risk • Jun 24
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 6.5% 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 Risk Debt is not well covered by operating cash flow (6.5% operating cash flow to total debt). Minor Risks Paying a dividend despite having no free cash flows. Shareholders have been diluted in the past year (4.5% increase in shares outstanding). Major Estimate Revision • May 26
Consensus EPS estimates fall by 11% The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate fell from NT$11.04 to NT$9.81 per share. Revenue forecast steady at NT$81.6b. Net income forecast to shrink 20% next year vs 16% growth forecast for Leisure industry in Taiwan . Consensus price target broadly unchanged at NT$211. Share price was steady at NT$200 over the past week. Major Estimate Revision • May 11
Consensus EPS estimates increase by 14%, revenue downgraded The consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast fell from NT$81.4b to NT$77.9b. EPS estimate rose from NT$7.65 to NT$8.76. Net income forecast to shrink 40% next year vs 24% decline forecast for Leisure industry in Taiwan. Consensus price target reaffirmed at NT$213. Share price rose 5.5% to NT$193 over the past week. Major Estimate Revision • Apr 14
Consensus EPS estimates fall by 31% The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate fell from NT$11.12 to NT$7.65 per share. Revenue forecast steady at NT$81.4b. Net income forecast to shrink 49% next year vs 26% decline forecast for Leisure industry in Taiwan. Consensus price target broadly unchanged at NT$213. Share price rose 8.9% to NT$189 over the past week. Reported Earnings • Mar 30
Full year 2022 earnings: EPS misses analyst expectations Full year 2022 results: EPS: NT$15.51 (down from NT$15.81 in FY 2021). Revenue: NT$92.0b (up 13% from FY 2021). Net income: NT$5.84b (down 1.5% from FY 2021). Profit margin: 6.3% (down from 7.2% in FY 2021). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 13%. Revenue is expected to decline by 2.5% p.a. on average during the next 3 years, while revenues in the Leisure industry in Taiwan are expected to grow by 2.1%. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Price Target Changed • Mar 13
Price target decreased by 9.8% to NT$217 Down from NT$241, the current price target is an average from 11 analysts. New target price is 16% above last closing price of NT$187. Stock is down 33% over the past year. The company is forecast to post earnings per share of NT$17.77 for next year compared to NT$15.81 last year. Buying Opportunity • Dec 13
Now 23% undervalued after recent price drop Over the last 90 days, the stock is down 11%. The fair value is estimated to be NT$269, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 23%. Revenue is forecast to grow by 8.8% in 2 years. Earnings is forecast to grow by 3.3% in the next 2 years. Board Change • Nov 16
Less than half of directors are independent Following 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. 8 non-independent directors. Independent Director Chaney Ho was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 09
Third quarter 2022 earnings: EPS and revenues exceed analyst expectations Third quarter 2022 results: EPS: NT$5.35 (up from NT$3.42 in 3Q 2021). Revenue: NT$25.9b (up 30% from 3Q 2021). Net income: NT$2.01b (up 57% from 3Q 2021). Profit margin: 7.8% (up from 6.4% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 6.6%. Earnings per share (EPS) also surpassed analyst estimates by 7.1%. Revenue is forecast to grow 5.4% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Leisure industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Price Target Changed • Nov 07
Price target decreased to NT$260 Down from NT$282, the current price target is an average from 12 analysts. New target price is 22% above last closing price of NT$214. Stock is down 30% over the past year. The company is forecast to post earnings per share of NT$17.24 for next year compared to NT$15.81 last year. Upcoming Dividend • Aug 12
Upcoming dividend of NT$10.00 per share Eligible shareholders must have bought the stock before 19 August 2022. Payment date: 15 September 2022. Payout ratio is a comfortable 62% but the company is not cash flow positive. Trailing yield: 3.8%. Lower than top quartile of Taiwanese dividend payers (6.6%). In line with average of industry peers (4.2%). Reported Earnings • Aug 11
Second quarter 2022 earnings: EPS and revenues exceed analyst expectations Second quarter 2022 results: EPS: NT$4.80 (down from NT$4.93 in 2Q 2021). Revenue: NT$22.7b (up 6.4% from 2Q 2021). Net income: NT$1.80b (down 2.5% from 2Q 2021). Profit margin: 7.9% (down from 8.7% in 2Q 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 4.4%. Earnings per share (EPS) also surpassed analyst estimates by 13%. Over the next year, revenue is forecast to grow 8.2%, compared to a 10% growth forecast for the industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Jul 27
Now 21% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be NT$305, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has grown by 26%. Revenue is forecast to grow by 17% in 2 years. Earnings is forecast to grow by 16% in the next 2 years. Buying Opportunity • Jun 28
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 3.6%. The fair value is estimated to be NT$320, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has grown by 26%. Revenue is forecast to grow by 18% in 2 years. Earnings is forecast to grow by 18% in the next 2 years. Reported Earnings • May 14
First quarter 2022 earnings: EPS and revenues exceed analyst expectations First quarter 2022 results: EPS: NT$4.86 (up from NT$4.54 in 1Q 2021). Revenue: NT$22.3b (up 8.0% from 1Q 2021). Net income: NT$1.82b (up 7.1% from 1Q 2021). Profit margin: 8.2% (down from 8.3% in 1Q 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 4.1%. Earnings per share (EPS) also surpassed analyst estimates by 11%. Over the next year, revenue is forecast to grow 8.3%, compared to a 13% growth forecast for the industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Price Target Changed • Apr 27
Price target decreased to NT$343 Down from NT$392, the current price target is an average from 11 analysts. New target price is 43% above last closing price of NT$240. Stock is down 30% over the past year. The company is forecast to post earnings per share of NT$16.79 for next year compared to NT$15.81 last year. Buying Opportunity • Apr 27
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 24%. The fair value is estimated to be NT$309, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 28%. For the next 3 years, revenue is forecast to grow by 7.9% per annum. Earnings is also forecast to grow by 9.6% per annum over the same time period. Reported Earnings • Mar 31
Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2021 results: EPS: NT$15.81 (up from NT$13.20 in FY 2020). Revenue: NT$81.8b (up 17% from FY 2020). Net income: NT$5.93b (up 20% from FY 2020). Profit margin: 7.2% (up from 7.1% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.5%. Earnings per share (EPS) missed analyst estimates by 1.6%. Over the next year, revenue is forecast to grow 9.1%, compared to a 11% growth forecast for the industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Aankondiging • Mar 31
Giant Manufacturing Co., Ltd., Annual General Meeting, Jun 23, 2022 Giant Manufacturing Co., Ltd., Annual General Meeting, Jun 23, 2022. Price Target Changed • Mar 28
Price target decreased to NT$361 Down from NT$398, the current price target is an average from 11 analysts. New target price is 44% above last closing price of NT$251. Stock is down 20% over the past year. The company is forecast to post earnings per share of NT$15.96 for next year compared to NT$13.19 last year. Aankondiging • Feb 25
Giant Manufacturing Co., Ltd. Provides Revenue Guidance for the Year 2022 Giant Manufacturing Co., Ltd. provided revenue guidance for the year 2022. The company expects annual sales revenue forecast to TWD 90 billion in 2022.