Valuation Update With 7 Day Price Move • May 13
Investor sentiment improves as stock rises 27% After last week's 27% share price gain to NT$308, the stock trades at a trailing P/E ratio of 40.8x. Average forward P/E is 30x in the Semiconductor industry in Taiwan. Total returns to shareholders of 363% over the past three years. Reported Earnings • May 07
First quarter 2026 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2026 results: EPS: NT$2.00 (up from NT$1.92 in 1Q 2025). Revenue: NT$627.5m (up 52% from 1Q 2025). Net income: NT$80.7m (up 33% from 1Q 2025). Profit margin: 13% (down from 15% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 12%. Earnings per share (EPS) missed analyst estimates by 16%. Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has increased by 52% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Apr 09
Investor sentiment improves as stock rises 29% After last week's 29% share price gain to NT$244, the stock trades at a forward P/E ratio of 23x. Average forward P/E is 23x in the Semiconductor industry in Taiwan. Total returns to shareholders of 342% over the past three years. Upcoming Dividend • Mar 25
Upcoming dividend of NT$4.50 per share Eligible shareholders must have bought the stock before 01 April 2026. Payment date: 08 July 2026. Payout ratio is a comfortable 54% but the company is paying out more than the cash it is generating. Trailing yield: 1.8%. Lower than top quartile of Taiwanese dividend payers (5.3%). Higher than average of industry peers (1.4%). Reported Earnings • Mar 03
Full year 2025 earnings released: EPS: NT$7.05 (vs NT$6.00 in FY 2024) Full year 2025 results: EPS: NT$7.05 (up from NT$6.00 in FY 2024). Revenue: NT$1.91b (up 28% from FY 2024). Net income: NT$222.9m (up 18% from FY 2024). Profit margin: 12% (down from 13% in FY 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has increased by 50% per year, which means it is tracking significantly ahead of earnings growth. Board Change • Feb 24
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 7 experienced directors. No highly experienced directors. 3 independent directors (4 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Jan 20
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$199, the stock trades at a trailing P/E ratio of 31.3x. Average trailing P/E is 33x in the Semiconductor industry in Taiwan. Total returns to shareholders of 366% over the past three years. Valuation Update With 7 Day Price Move • Sep 17
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to NT$156, the stock trades at a trailing P/E ratio of 29.3x. Average forward P/E is 24x in the Semiconductor industry in Taiwan. Total returns to shareholders of 252% over the past three years. New Risk • Aug 25
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Taiwanese stocks, typically moving 7.8% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (7.8% average weekly change). Minor Risk Dividend is not well covered by cash flows (271% cash payout ratio). Reported Earnings • Aug 12
Second quarter 2025 earnings released: EPS: NT$0.50 (vs NT$1.86 in 2Q 2024) Second quarter 2025 results: EPS: NT$0.50 (down from NT$1.86 in 2Q 2024). Revenue: NT$432.7m (up 18% from 2Q 2024). Net income: NT$14.9m (down 73% from 2Q 2024). Profit margin: 3.5% (down from 15% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Semiconductor industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has increased by 36% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Jul 21
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 6.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (28% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (6.7% average weekly change). Valuation Update With 7 Day Price Move • Jul 11
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$121, the stock trades at a trailing P/E ratio of 17.4x. Average forward P/E is 18x in the Semiconductor industry in Taiwan. Total returns to shareholders of 155% over the past three years. Declared Dividend • May 31
Dividend increased to NT$3.70 Dividend of NT$3.70 is 37% higher than last year. Ex-date: 13th June 2025 Payment date: 4th July 2025 Dividend yield will be 3.5%, which is higher than the industry average of 3.0%. Sustainability & Growth Dividend is covered by earnings (52% 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 34% per year over the past 9 years. However, payments have been volatile during that time. Earnings per share has grown by 35% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • May 08
First quarter 2025 earnings released: EPS: NT$2.01 (vs NT$1.24 in 1Q 2024) First quarter 2025 results: EPS: NT$2.01 (up from NT$1.24 in 1Q 2024). Revenue: NT$412.5m (up 55% from 1Q 2024). Net income: NT$60.7m (up 62% from 1Q 2024). Profit margin: 15% (in line with 1Q 2024). Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 14% growth forecast for the Semiconductor industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 12% per year whereas the company’s share price has increased by 14% per year. Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to NT$85.60, the stock trades at a trailing P/E ratio of 13.6x. Average forward P/E is 18x in the Semiconductor industry in Taiwan. Total returns to shareholders of 27% over the past three years. Aankondiging • Mar 06
Ample Electronic Technology Co.,Ltd., Annual General Meeting, May 27, 2025 Ample Electronic Technology Co.,Ltd., Annual General Meeting, May 27, 2025, at 09:00 Taipei Standard Time. Location: 3 floor no,1, hua chung rd., daliao district, kaohsiung city Taiwan Reported Earnings • Mar 06
Full year 2024 earnings released: EPS: NT$6.30 (vs NT$3.90 in FY 2023) Full year 2024 results: EPS: NT$6.30 (up from NT$3.90 in FY 2023). Revenue: NT$1.49b (up 43% from FY 2023). Net income: NT$189.8m (up 63% from FY 2023). Profit margin: 13% (up from 11% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 15% per year, which means it is well ahead of earnings. New Risk • Dec 16
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: NT$3.24b (US$99.6m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (7.2% average weekly change). Market cap is less than US$100m (NT$3.24b market cap, or US$99.6m). Reported Earnings • Nov 09
Third quarter 2024 earnings released: EPS: NT$1.23 (vs NT$1.21 in 3Q 2023) Third quarter 2024 results: EPS: NT$1.23 (up from NT$1.21 in 3Q 2023). Revenue: NT$430.9m (up 33% from 3Q 2023). Net income: NT$37.1m (up 2.6% from 3Q 2023). Profit margin: 8.6% (down from 11% in 3Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Sep 28
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to NT$147, the stock trades at a trailing P/E ratio of 29.5x. Average trailing P/E is 31x in the Semiconductor industry in Taiwan. Total returns to shareholders of 60% over the past three years. Reported Earnings • Aug 13
Second quarter 2024 earnings released: EPS: NT$1.86 (vs NT$1.39 in 2Q 2023) Second quarter 2024 results: EPS: NT$1.86 (up from NT$1.39 in 2Q 2023). Revenue: NT$367.9m (up 24% from 2Q 2023). Net income: NT$56.1m (up 36% from 2Q 2023). Profit margin: 15% (up from 14% in 2Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Aug 07
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to NT$102, the stock trades at a trailing P/E ratio of 22.6x. Average trailing P/E is 26x in the Semiconductor industry in Taiwan. Negligible returns to shareholders over past three years. New Risk • Aug 05
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: NT$3.19b (US$97.8m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (10% average weekly change). Minor Risks Dividend is not well covered by cash flows (156% cash payout ratio). Market cap is less than US$100m (NT$3.19b market cap, or US$97.8m). Valuation Update With 7 Day Price Move • Jul 23
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to NT$118, the stock trades at a trailing P/E ratio of 26.3x. Average trailing P/E is 30x in the Semiconductor industry in Taiwan. Total loss to shareholders of 4.2% over the past three years. Upcoming Dividend • Jun 04
Upcoming dividend of NT$2.70 per share Eligible shareholders must have bought the stock before 11 June 2024. Payment date: 05 July 2024. Payout ratio is a comfortable 47% but the company is paying out more than the cash it is generating. Trailing yield: 1.8%. Lower than top quartile of Taiwanese dividend payers (4.2%). Lower than average of industry peers (2.3%). Reported Earnings • May 19
First quarter 2024 earnings released: EPS: NT$1.24 (vs NT$0.64 in 1Q 2023) First quarter 2024 results: EPS: NT$1.24 (up from NT$0.64 in 1Q 2023). Revenue: NT$265.9m (up 30% from 1Q 2023). Net income: NT$37.4m (up 98% from 1Q 2023). Profit margin: 14% (up from 9.3% in 1Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • May 17
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$129, the stock trades at a trailing P/E ratio of 33.3x. Average trailing P/E is 31x in the Semiconductor industry in Taiwan. Total returns to shareholders of 43% over the past three years. Valuation Update With 7 Day Price Move • May 02
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to NT$114, the stock trades at a trailing P/E ratio of 29.4x. Average trailing P/E is 31x in the Semiconductor industry in Taiwan. Total returns to shareholders of 18% over the past three years. Valuation Update With 7 Day Price Move • Apr 17
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$91.10, the stock trades at a trailing P/E ratio of 23.5x. Average trailing P/E is 31x in the Semiconductor industry in Taiwan. Total loss to shareholders of 18% over the past three years. Reported Earnings • Mar 16
Full year 2023 earnings released: EPS: NT$3.90 (vs NT$3.08 in FY 2022) Full year 2023 results: EPS: NT$3.90 (up from NT$3.08 in FY 2022). Revenue: NT$1.05b (up 13% from FY 2022). Net income: NT$116.7m (up 26% from FY 2022). Profit margin: 11% (up from 10.0% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 24% per year whereas the company’s share price has fallen by 19% per year. Aankondiging • Mar 15
Ample Electronic Technology Co.,Ltd., Annual General Meeting, May 28, 2024 Ample Electronic Technology Co.,Ltd., Annual General Meeting, May 28, 2024. Reported Earnings • Nov 08
Third quarter 2023 earnings released: EPS: NT$1.20 (vs NT$0.63 in 3Q 2022) Third quarter 2023 results: EPS: NT$1.20 (up from NT$0.63 in 3Q 2022). Revenue: NT$323.7m (up 81% from 3Q 2022). Net income: NT$36.1m (up 93% from 3Q 2022). Profit margin: 11% (in line with 3Q 2022). Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. New Risk • Sep 19
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.9% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Shareholders have been diluted in the past year (2.9% increase in shares outstanding). Market cap is less than US$100m (NT$2.28b market cap, or US$71.3m). Valuation Update With 7 Day Price Move • Sep 07
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to NT$81.40, the stock trades at a trailing P/E ratio of 29.5x. Average trailing P/E is 23x in the Semiconductor industry in Taiwan. Total returns to shareholders of 32% over the past three years. Reported Earnings • Aug 09
Second quarter 2023 earnings released: EPS: NT$1.38 (vs NT$1.23 in 2Q 2022) Second quarter 2023 results: EPS: NT$1.38 (up from NT$1.23 in 2Q 2022). Revenue: NT$297.2m (down 2.1% from 2Q 2022). Net income: NT$41.3m (up 11% from 2Q 2022). Profit margin: 14% (up from 12% in 2Q 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Jun 07
Upcoming dividend of NT$2.20 per share at 2.7% yield Eligible shareholders must have bought the stock before 14 June 2023. Payment date: 10 July 2023. Payout ratio is on the higher end at 84%, however this is supported by cash flows. Trailing yield: 2.7%. Lower than top quartile of Taiwanese dividend payers (5.6%). Lower than average of industry peers (3.3%). Valuation Update With 7 Day Price Move • Apr 28
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$74.20, the stock trades at a trailing P/E ratio of 23.9x. Average trailing P/E is 16x in the Semiconductor industry in Taiwan. Total loss to shareholders of 4.2% over the past three years. Reported Earnings • Mar 09
Full year 2022 earnings released: EPS: NT$3.08 (vs NT$6.70 in FY 2021) Full year 2022 results: EPS: NT$3.08 (down from NT$6.70 in FY 2021). Revenue: NT$928.1m (down 47% from FY 2021). Net income: NT$92.4m (down 54% from FY 2021). Profit margin: 10.0% (down from 12% in FY 2021). The decrease in margin was driven by lower revenue. 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 7% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Mar 08
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to NT$62.90, the stock trades at a trailing P/E ratio of 15x. Average trailing P/E is 14x in the Semiconductor industry in Taiwan. Total returns to shareholders of 25% over the past three years. Reported Earnings • Nov 16
Third quarter 2022 earnings released: EPS: NT$0.63 (vs NT$2.03 in 3Q 2021) Third quarter 2022 results: EPS: NT$0.63 (down from NT$2.03 in 3Q 2021). Revenue: NT$178.8m (down 64% from 3Q 2021). Net income: NT$18.8m (down 69% from 3Q 2021). Profit margin: 11% (down from 12% in 3Q 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 13
Third quarter 2022 earnings released: EPS: NT$0.63 (vs NT$2.03 in 3Q 2021) Third quarter 2022 results: EPS: NT$0.63 (down from NT$2.03 in 3Q 2021). Revenue: NT$178.8m (down 64% from 3Q 2021). Net income: NT$18.8m (down 69% from 3Q 2021). Profit margin: 11% (down from 12% in 3Q 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 03
Second quarter 2022 earnings released: EPS: NT$1.23 (vs NT$1.67 in 2Q 2021) Second quarter 2022 results: EPS: NT$1.23 (down from NT$1.67 in 2Q 2021). Revenue: NT$303.5m (down 36% from 2Q 2021). Net income: NT$37.0m (down 26% from 2Q 2021). Profit margin: 12% (up from 11% in 2Q 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 51% per year but the company’s share price has only increased by 29% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jul 07
Investor sentiment deteriorated over the past week After last week's 17% share price decline to NT$52.40, the stock trades at a trailing P/E ratio of 8.8x. Average trailing P/E is 12x in the Semiconductor industry in Taiwan. Total returns to shareholders of 124% over the past three years. Upcoming Dividend • Jun 30
Upcoming dividend of NT$4.58 per share Eligible shareholders must have bought the stock before 07 July 2022. Payment date: 02 August 2022. Payout ratio is on the higher end at 77%, however this is supported by cash flows. Trailing yield: 7.1%. Within top quartile of Taiwanese dividend payers (6.4%). Higher than average of industry peers (3.6%). Reported Earnings • May 04
First quarter 2022 earnings released: EPS: NT$1.09 (vs NT$1.83 in 1Q 2021) First quarter 2022 results: EPS: NT$1.09 (down from NT$1.83 in 1Q 2021). Revenue: NT$283.3m (down 33% from 1Q 2021). Net income: NT$33.1m (down 39% from 1Q 2021). Profit margin: 12% (down from 13% in 1Q 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 56% per year but the company’s share price has only increased by 36% per year, which means it is significantly lagging earnings growth. Reported Earnings • Mar 09
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: EPS: NT$6.70 (up from NT$4.74 in FY 2020). Revenue: NT$1.73b (up 43% from FY 2020). Net income: NT$201.1m (up 48% from FY 2020). Profit margin: 12% (in line with FY 2020). Revenue exceeded analyst estimates by 11%. Over the last 3 years on average, earnings per share has increased by 58% per year but the company’s share price has only increased by 30% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 11
Third quarter 2021 earnings released: EPS NT$2.03 (vs NT$1.08 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$495.0m (up 69% from 3Q 2020). Net income: NT$61.2m (up 99% from 3Q 2020). Profit margin: 12% (up from 11% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 55% per year whereas the company’s share price has increased by 56% per year. Reported Earnings • Aug 12
Second quarter 2021 earnings released: EPS NT$1.67 (vs NT$1.23 in 2Q 2020) The company reported a solid second quarter result with improved earnings and revenues, although profit margins were flat. Second quarter 2021 results: Revenue: NT$472.8m (up 54% from 2Q 2020). Net income: NT$50.1m (up 43% from 2Q 2020). Profit margin: 11% (in line with 2Q 2020). Over the last 3 years on average, earnings per share has increased by 49% per year whereas the company’s share price has increased by 50% per year. Valuation Update With 7 Day Price Move • Jul 23
Investor sentiment improved over the past week After last week's 16% share price gain to NT$141, the stock trades at a trailing P/E ratio of 24.8x. Average forward P/E is 18x in the Semiconductor industry in Taiwan. Total returns to shareholders of 337% over the past three years. Upcoming Dividend • Jun 08
Upcoming dividend of NT$3.17 per share Eligible shareholders must have bought the stock before 15 June 2021. Payment date: 20 July 2021. Trailing yield: 2.7%. Lower than top quartile of Taiwanese dividend payers (5.0%). Higher than average of industry peers (2.1%). Valuation Update With 7 Day Price Move • May 13
Investor sentiment deteriorated over the past week After last week's 15% share price decline to NT$101, the stock trades at a trailing P/E ratio of 17.7x. Average forward P/E is 14x in the Semiconductor industry in Taiwan. Total returns to shareholders of 218% over the past three years. Reported Earnings • May 05
First quarter 2021 earnings released: EPS NT$1.88 (vs NT$0.92 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$421.4m (up 69% from 1Q 2020). Net income: NT$54.2m (up 105% from 1Q 2020). Profit margin: 13% (up from 11% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has increased by 52% per year, which means it is tracking significantly ahead of earnings growth. Aankondiging • Mar 18
Ample Electronic Technology Co.,Ltd., Annual General Meeting, Jun 15, 2021 Ample Electronic Technology Co.,Ltd., Annual General Meeting, Jun 15, 2021. Analyst Estimate Surprise Post Earnings • Mar 13
Revenue misses expectations Revenue missed analyst estimates by 0.2%. Over the next year, revenue is forecast to grow 31%, compared to a 17% growth forecast for the Semiconductor industry in Taiwan. Reported Earnings • Mar 13
Full year 2020 earnings released: EPS NT$4.74 (vs NT$0.99 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$1.21b (up 106% from FY 2019). Net income: NT$135.6m (up 361% from FY 2019). Profit margin: 11% (up from 5.0% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has increased by 63% per year, which means it is tracking significantly ahead of earnings growth. Is New 90 Day High Low • Mar 10
New 90-day high: NT$132 The company is up 36% from its price of NT$97.40 on 10 December 2020. The Taiwanese market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Semiconductor industry, which is up 13% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is NT$3.73 per share. Valuation Update With 7 Day Price Move • Feb 23
Investor sentiment improved over the past week After last week's 20% share price gain to NT$130, the stock is trading at a trailing P/E ratio of 35.9x, up from the previous P/E ratio of 29.9x. This compares to an average P/E of 29x in the Semiconductor industry in Taiwan. Total returns to shareholders over the past three years are 393%. Valuation Update With 7 Day Price Move • Jan 11
Investor sentiment improved over the past week After last week's 22% share price gain to NT$116, the stock is trading at a trailing P/E ratio of 32.2x, up from the previous P/E ratio of 26.3x. This compares to an average P/E of 26x in the Semiconductor industry in Taiwan. Total returns to shareholders over the past three years are 436%. Is New 90 Day High Low • Jan 08
New 90-day high: NT$106 The company is up 43% from its price of NT$73.90 on 08 October 2020. The Taiwanese market is up 17% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Semiconductor industry, which is up 26% over the same period. Valuation Update With 7 Day Price Move • Dec 03
Market bids up stock over the past week After last week's 17% share price gain to NT$92.70, the stock is trading at a trailing P/E ratio of 25.7x, up from the previous P/E ratio of 21.9x. This compares to an average P/E of 24x in the Semiconductor industry in Taiwan. Total returns to shareholders over the past three years are 371%. Is New 90 Day High Low • Nov 24
New 90-day high: NT$81.20 The company is up 10.0% from its price of NT$74.00 on 26 August 2020. The Taiwanese market is up 8.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Semiconductor industry, which is up 16% over the same period. Reported Earnings • Nov 10
Third quarter 2020 earnings released: EPS NT$1.08 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: NT$293.2m (up 149% from 3Q 2019). Net income: NT$30.8m (up NT$27.2m from 3Q 2019). Profit margin: 11% (up from 3.1% in 3Q 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has increased by 38% per year, which means it is tracking significantly ahead of earnings growth.