New Risk • Jul 01
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 9.6% 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 Dividend is not well covered by earnings and cash flows. Payout ratio: 94% Cash payout ratio: 211% Minor Risk Share price has been volatile over the past 3 months (9.6% average weekly change). Board Change • Jul 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. 2 highly experienced directors. Independent Director Chien-Yung Ma was the last director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Valuation Update With 7 Day Price Move • Jul 01
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$124, the stock trades at a trailing P/E ratio of 53.1x. Average trailing P/E is 50x in the Semiconductor industry in Taiwan. Total returns to shareholders of 311% over the past three years. Upcoming Dividend • Jun 10
Upcoming dividend of NT$2.20 per share Eligible shareholders must have bought the stock before 17 June 2026. Payment date: 10 July 2026. Payout ratio is on the higher end at 94%, and the cash payout ratio is above 100%. Trailing yield: 2.1%. Lower than top quartile of Taiwanese dividend payers (4.9%). Higher than average of industry peers (1.0%). Valuation Update With 7 Day Price Move • Jun 08
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to NT$108, the stock trades at a trailing P/E ratio of 46.2x. Average trailing P/E is 44x in the Semiconductor industry in Taiwan. Total returns to shareholders of 274% over the past three years. Reported Earnings • May 08
First quarter 2026 earnings released: EPS: NT$0.19 (vs NT$0.45 in 1Q 2025) First quarter 2026 results: EPS: NT$0.19 (down from NT$0.45 in 1Q 2025). Revenue: NT$1.03b (up 24% from 1Q 2025). Net income: NT$30.9m (down 58% from 1Q 2025). Profit margin: 3.0% (down from 8.8% in 1Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has increased by 63% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Apr 30
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$130, the stock trades at a trailing P/E ratio of 50.2x. Average trailing P/E is 44x in the Semiconductor industry in Taiwan. Total returns to shareholders of 405% over the past three years. Declared Dividend • Apr 11
Dividend increased to NT$2.20 Dividend of NT$2.20 is 10% higher than last year. Ex-date: 17th June 2026 Payment date: 10th July 2026 Dividend yield will be 1.9%, which is lower than the industry average of 3.0%. Sustainability & Growth Dividend is covered by earnings (85% earnings payout ratio) but not covered by cash flows (113% cash payout ratio). The dividend has increased by an average of 20% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 23% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Valuation Update With 7 Day Price Move • Apr 09
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$116, the stock trades at a trailing P/E ratio of 44.8x. Average trailing P/E is 40x in the Semiconductor industry in Taiwan. Total returns to shareholders of 343% over the past three years. Valuation Update With 7 Day Price Move • Mar 16
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$106, the stock trades at a trailing P/E ratio of 40.9x. Average trailing P/E is 37x in the Semiconductor industry in Taiwan. Total returns to shareholders of 299% over the past three years. Aankondiging • Mar 02
Gallant Precision Machining Co., Ltd., Annual General Meeting, May 20, 2026 Gallant Precision Machining Co., Ltd., Annual General Meeting, May 20, 2026, at 09:00 Taipei Standard Time. Location: no,1, kung yeh tung 2nd rd., hsinchu science park, hsinchu city Taiwan Reported Earnings • Feb 27
Full year 2025 earnings released: EPS: NT$2.59 (vs NT$1.82 in FY 2024) Full year 2025 results: EPS: NT$2.59 (up from NT$1.82 in FY 2024). Revenue: NT$4.67b (up 5.3% from FY 2024). Net income: NT$416.9m (up 41% from FY 2024). Profit margin: 8.9% (up from 6.7% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has increased by 46% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Jan 05
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$100.00, the stock trades at a trailing P/E ratio of 45.8x. Average trailing P/E is 30x in the Semiconductor industry in Taiwan. Total returns to shareholders of 287% over the past three years. Reported Earnings • Nov 07
Third quarter 2025 earnings released: EPS: NT$0.44 (vs NT$0.65 in 3Q 2024) Third quarter 2025 results: EPS: NT$0.44 (down from NT$0.65 in 3Q 2024). Revenue: NT$1.28b (up 27% from 3Q 2024). Net income: NT$70.4m (down 34% from 3Q 2024). Profit margin: 5.5% (down from 11% in 3Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 50% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Sep 10
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$110, the stock trades at a trailing P/E ratio of 45.5x. Average trailing P/E is 32x in the Semiconductor industry in Taiwan. Total returns to shareholders of 320% over the past three years. New Risk • Sep 06
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 7.6% 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 (7.6% operating cash flow to total debt). 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). Reported Earnings • Aug 08
Second quarter 2025 earnings released: EPS: NT$1.08 (vs NT$0.67 in 2Q 2024) Second quarter 2025 results: EPS: NT$1.08 (up from NT$0.67 in 2Q 2024). Revenue: NT$1.31b (up 46% from 2Q 2024). Net income: NT$173.6m (up 59% from 2Q 2024). Profit margin: 13% (up from 12% in 2Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 55% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Jun 23
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 10% 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 Risks Share price has been highly volatile over the past 3 months (10% average weekly change). Dividend is not well covered by earnings and cash flows. Payout ratio: 101% Paying a dividend despite having no free cash flows. Valuation Update With 7 Day Price Move • Jun 13
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$87.00, the stock trades at a trailing P/E ratio of 43.4x. Average trailing P/E is 25x in the Semiconductor industry in Taiwan. Total returns to shareholders of 257% over the past three years. Upcoming Dividend • Jun 12
Upcoming dividend of NT$2.00 per share Eligible shareholders must have bought the stock before 19 June 2025. Payment date: 11 July 2025. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 2.3%. Lower than top quartile of Taiwanese dividend payers (5.2%). In line with average of industry peers (2.3%). Declared Dividend • May 05
Dividend increased to NT$2.00 Dividend of NT$2.00 is 67% higher than last year. Ex-date: 19th June 2025 Payment date: 11th July 2025 Dividend yield will be 2.8%, which is lower than the industry average of 3.0%. Sustainability & Growth Dividend is covered by earnings (53% 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 5.5% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 3.8% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Aankondiging • Apr 25
Gallant Precision Machining Co., Ltd. to Report Q1, 2025 Results on May 02, 2025 Gallant Precision Machining Co., Ltd. announced that they will report Q1, 2025 results on May 02, 2025 Aankondiging • Apr 11
Gallant Precision Machining Co., Ltd. Proposes Dividend Distribution for 2024 Gallant Precision Machining Co., Ltd. Board of Directors approved dividend distribution, on April 10, 2025, of TWD 1.8 per share for the year 2024 and Cash dividends distributed from legal reserve and capital reserve to shareholders is TWD 0.2 per share. Total amount of cash dividends to shareholders TWD 321,382,288. 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$61.80, the stock trades at a trailing P/E ratio of 33.5x. Average trailing P/E is 22x in the Semiconductor industry in Taiwan. Total returns to shareholders of 131% over the past three years. Aankondiging • Feb 27
Gallant Precision Machining Co., Ltd., Annual General Meeting, Jun 03, 2025 Gallant Precision Machining Co., Ltd., Annual General Meeting, Jun 03, 2025. Location: no,1, kung yeh tung 2nd rd., hsinchu science park, hsinchu city Taiwan Buy Or Sell Opportunity • Feb 19
Now 27% overvalued Over the last 90 days, the stock has fallen 21% to NT$103. The fair value is estimated to be NT$80.96, however this is not to be taken as a sell 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 7.6%. Aankondiging • Feb 19
Gallant Precision Machining Co., Ltd. to Report Q4, 2024 Results on Feb 26, 2025 Gallant Precision Machining Co., Ltd. announced that they will report Q4, 2024 results on Feb 26, 2025 New Risk • Feb 18
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 6.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Buy Or Sell Opportunity • Jan 16
Now 24% overvalued Over the last 90 days, the stock has fallen 21% to NT$104. The fair value is estimated to be NT$84.06, however this is not to be taken as a sell 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 7.6%. Aankondiging • Jan 11
Gallant Precision Machining Co., Ltd. Appoints Frank Liang as CEO Gallant Precision Machining Co., Ltd. announced appointment of FRANK LIANG, CEO, vice chairman as CEO, effective January 10, 2024. New Risk • Dec 16
New major risk - Financial data availability The 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 Share price has been volatile over the past 3 months (6.6% average weekly change). Reported Earnings • Nov 09
Third quarter 2024 earnings released: EPS: NT$0.65 (vs NT$0.099 in 3Q 2023) Third quarter 2024 results: EPS: NT$0.65 (up from NT$0.099 in 3Q 2023). Revenue: NT$1.01b (up 52% from 3Q 2023). Net income: NT$106.6m (up NT$90.3m from 3Q 2023). Profit margin: 11% (up from 2.4% in 3Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 56% per year, which means it is well ahead of earnings. Reported Earnings • Aug 14
Second quarter 2024 earnings released: EPS: NT$0.67 (vs NT$0.26 in 2Q 2023) Second quarter 2024 results: EPS: NT$0.67 (up from NT$0.26 in 2Q 2023). Revenue: NT$898.3m (up 37% from 2Q 2023). Net income: NT$109.0m (up 155% from 2Q 2023). Profit margin: 12% (up from 6.5% 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 13% per year but the company’s share price has increased by 42% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Aug 06
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to NT$88.20, the stock trades at a trailing P/E ratio of 68x. Average trailing P/E is 26x in the Semiconductor industry in Taiwan. Total returns to shareholders of 163% over the past three years. Aankondiging • Jul 31
Gallant Precision Machining Co., Ltd. to Report Q2, 2024 Results on Aug 07, 2024 Gallant Precision Machining Co., Ltd. announced that they will report Q2, 2024 results on Aug 07, 2024 Valuation Update With 7 Day Price Move • Jul 05
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to NT$99.20, the stock trades at a trailing P/E ratio of 76.4x. Average trailing P/E is 32x in the Semiconductor industry in Taiwan. Total returns to shareholders of 156% over the past three years. Valuation Update With 7 Day Price Move • Jun 21
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$66.60, the stock trades at a forward P/E ratio of 300x. Average forward P/E is 24x in the Semiconductor industry in Taiwan. Total returns to shareholders of 96% over the past three years. Upcoming Dividend • Jun 13
Upcoming dividend of NT$1.20 per share Eligible shareholders must have bought the stock before 20 June 2024. Payment date: 12 July 2024. Payout ratio is on the higher end at 92%, however this is supported by cash flows. Trailing yield: 2.1%. Lower than top quartile of Taiwanese dividend payers (4.3%). In line with average of industry peers (2.2%). Declared Dividend • May 10
Dividend reduced to NT$1.20 Dividend of NT$1.20 is 33% lower than last year. Ex-date: 20th June 2024 Payment date: 12th July 2024 Dividend yield will be 2.3%, which is lower than the industry average of 3.0%. Sustainability & Growth Dividend is not adequately covered by earnings (93% earnings payout ratio). However, it is well covered by cash flows (18% cash payout ratio). The dividend has increased by an average of 5.5% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 3.0% to bring the payout ratio under control. However, EPS is expected to decline by 82% over the next year, which means the dividend may need to be reduced to reach a sustainable payout ratio. Reported Earnings • May 10
First quarter 2024 earnings released: EPS: NT$0.29 (vs NT$0.24 in 1Q 2023) First quarter 2024 results: EPS: NT$0.29 (up from NT$0.24 in 1Q 2023). Revenue: NT$1.02b (up 39% from 1Q 2023). Net income: NT$47.0m (up 22% from 1Q 2023). Profit margin: 4.6% (down from 5.2% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue is expected to decline by 3.7% p.a. on average during the next 2 years, while revenues in the Semiconductor industry in Taiwan are expected to grow by 15%. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has increased by 17% per year, which means it is well ahead of earnings. Aankondiging • May 02
Gallant Precision Machining Co., Ltd. to Report Q1, 2024 Results on May 08, 2024 Gallant Precision Machining Co., Ltd. announced that they will report Q1, 2024 results on May 08, 2024 Valuation Update With 7 Day Price Move • Apr 20
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to NT$56.00, the stock trades at a forward P/E ratio of 311x. Average forward P/E is 23x in the Semiconductor industry in Taiwan. Total returns to shareholders of 58% over the past three years. Valuation Update With 7 Day Price Move • Apr 05
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to NT$67.90, the stock trades at a forward P/E ratio of 377x. Average forward P/E is 22x in the Semiconductor industry in Taiwan. Total returns to shareholders of 68% over the past three years. Valuation Update With 7 Day Price Move • Mar 14
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to NT$48.90, the stock trades at a forward P/E ratio of 272x. Average forward P/E is 21x in the Semiconductor industry in Taiwan. Total returns to shareholders of 29% over the past three years. Reported Earnings • Feb 29
Full year 2023 earnings: EPS and revenues exceed analyst expectations Full year 2023 results: EPS: NT$1.25 (down from NT$2.41 in FY 2022). Revenue: NT$3.09b (down 35% from FY 2022). Net income: NT$203.7m (down 48% from FY 2022). Profit margin: 6.6% (down from 8.2% in FY 2022). The decrease in margin was driven by lower revenue. Revenue exceeded analyst estimates by 19%. Earnings per share (EPS) also surpassed analyst estimates. Revenue is forecast to stay flat 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 fallen by 2% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Aankondiging • Feb 29
Gallant Precision Machining Co., Ltd. Approves Cash Dividend for the Year Ended December 31, 2023 The Board of Directors of Gallant Precision Machining Co., Ltd. approved cash dividend to shareholders of TWD 1.2 per share for the year ended December 31, 2023. Total amount of cash dividends to shareholders is TWD 196,154,573. Aankondiging • Feb 28
Gallant Precision Machining Co., Ltd., Annual General Meeting, Jun 18, 2024 Gallant Precision Machining Co., Ltd., Annual General Meeting, Jun 18, 2024. Location: Einstein Hall, HSP Link Science-Based Industrial Park, Hsinchu Taiwan Agenda: To consider report on the business of the Company in 2023; to consider Audit committee's review report for 2023; to consider report on the distribution of employees' and directors remuneration for 2023; to consider report on the distribution of 2023 profits in cash; to accept the 2023 Business Report and Financial Statements; to approve the proposal for the distribution of 2023 earnings; and to consider other matters. New Risk • Feb 20
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 6.0% 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 Earnings are forecast to decline by an average of 23% per year for the foreseeable future. Minor Risks Dividend is not well covered by earnings (259% payout ratio). Share price has been volatile over the past 3 months (6.0% average weekly change). Profit margins are more than 30% lower than last year (3.5% net profit margin). Valuation Update With 7 Day Price Move • Feb 16
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to NT$42.05, the stock trades at a forward P/E ratio of 230x. Average forward P/E is 20x in the Semiconductor industry in Taiwan. Total returns to shareholders of 12% over the past three years. New Risk • Nov 22
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 3.5% Last year net profit margin: 8.2% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by earnings (258% payout ratio). Profit margins are more than 30% lower than last year (3.5% net profit margin). Reported Earnings • Aug 11
Second quarter 2023 earnings released: EPS: NT$0.26 (vs NT$0.64 in 2Q 2022) Second quarter 2023 results: EPS: NT$0.26 (down from NT$0.64 in 2Q 2022). Revenue: NT$658.2m (down 42% from 2Q 2022). Net income: NT$42.8m (down 59% from 2Q 2022). Profit margin: 6.5% (down from 9.1% in 2Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jun 13
Upcoming dividend of NT$1.80 per share at 5.6% yield Eligible shareholders must have bought the stock before 20 June 2023. Payment date: 10 July 2023. Payout ratio is on the higher end at 91%, and the cash payout ratio is above 100%. Trailing yield: 5.6%. Within top quartile of Taiwanese dividend payers (5.5%). Higher than average of industry peers (3.2%). Aankondiging • May 23
Gallant Precision Machining Co., Ltd. (TPEX:5443) acquired unknown additional stake in C SUN Co. for NTD 308 million. Gallant Precision Machining Co., Ltd. (TPEX:5443) acquired unknown additional stake in C SUN Co. for NTD 308 million on May 22, 2023. Gallant Precision Machining Co., Ltd. (TPEX:5443) completed the acquisition of unknown additional stake in C SUN Co. on May 22, 2023. Aankondiging • May 05
Gallant Precision Machining Co., Ltd. Announces Cash Dividend, Payable on July 10, 2023 Gallant Precision Machining Co., Ltd. announced cash dividend of TWD 1.8 per share or the total amount is TWD 294,231,859. Ex-rights (Ex-dividend) date is June 20, 2023. Ex-rights (Ex-dividend) record date is June 26, 2023. Payment date of cash dividend distribution is July 10, 2023. Reported Earnings • Feb 26
Full year 2022 earnings released: EPS: NT$2.41 (vs NT$1.54 in FY 2021) Full year 2022 results: EPS: NT$2.41 (up from NT$1.54 in FY 2021). Revenue: NT$4.73b (down 1.6% from FY 2021). Net income: NT$390.2m (up 59% from FY 2021). Profit margin: 8.2% (up from 5.1% in FY 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 21% per year whereas the company’s share price has increased by 18% per year. 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. 4 non-independent directors. Independent Director Wei Lo was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 06
Third quarter 2022 earnings released: EPS: NT$1.00 (vs NT$0.47 in 3Q 2021) Third quarter 2022 results: EPS: NT$1.00 (up from NT$0.47 in 3Q 2021). Revenue: NT$1.29b (up 9.3% from 3Q 2021). Net income: NT$162.1m (up 117% from 3Q 2021). Profit margin: 13% (up from 6.4% 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 17% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 11
Second quarter 2022 earnings released: EPS: NT$0.64 (vs NT$0.66 in 2Q 2021) Second quarter 2022 results: EPS: NT$0.64 (down from NT$0.66 in 2Q 2021). Revenue: NT$1.14b (down 22% from 2Q 2021). Net income: NT$103.3m (flat on 2Q 2021). Profit margin: 9.1% (up from 7.1% 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 17% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Aankondiging • Aug 10
Gallant Precision Machining Co., Ltd. Appoints Chia-Ju Tseng as Corporate Governance Officer Gallant Precision Machining Co., Ltd. name, title, and resume of the new position holder Chia-Ju Tseng, Corporate governance officer, Chief Financial Officer. Type of change is new placement. Effective date is August 9, 2022. Upcoming Dividend • Jul 19
Upcoming dividend of NT$1.50 per share Eligible shareholders must have bought the stock before 26 July 2022. Payment date: 12 August 2022. Payout ratio is on the higher end at 82%, however this is supported by cash flows. Trailing yield: 5.8%. Lower than top quartile of Taiwanese dividend payers (6.8%). Higher than average of industry peers (3.7%). Aankondiging • Jun 10
Gallant Precision Machining Co., Ltd. Announces Cash Dividend, Payable on August 12, 2022 Gallant Precision Machining Co., Ltd. announced cash dividend of TWD 1.4 per share and a cash dividend of TWD 0.1 per share from capital reserves, with a total cash dividend of TWD 1.5 per share. With an ex-dividend date of July 26, 2022, record date of August 1, 2022 and payment date of August 12, 2022. Reported Earnings • May 06
First quarter 2022 earnings: EPS and revenues miss analyst expectations First quarter 2022 results: EPS: NT$0.68 (up from NT$0.39 in 1Q 2021). Revenue: NT$1.09b (up 2.8% from 1Q 2021). Net income: NT$108.7m (up 76% from 1Q 2021). Profit margin: 9.9% (up from 5.8% in 1Q 2021). The increase in margin was primarily driven by higher revenue. Revenue missed analyst estimates by 24%. Earnings per share (EPS) also missed analyst estimates by 8.7%. 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 10% per year. Board Change • Apr 27
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. 4 non-independent directors. Independent Director Wei Lo was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Mar 18
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: EPS: NT$1.54 (up from NT$0.93 in FY 2020). Revenue: NT$4.81b (up 39% from FY 2020). Net income: NT$246.1m (up 65% from FY 2020). Profit margin: 5.1% (up from 4.3% in FY 2020). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 24%. Earnings per share (EPS) also missed analyst estimates by 8.7%. 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 6% per year. Valuation Update With 7 Day Price Move • Nov 25
Investor sentiment improved over the past week After last week's 15% share price gain to NT$39.20, the stock trades at a trailing P/E ratio of 19x. Average trailing P/E is 21x in the Semiconductor industry in Taiwan. Total returns to shareholders of 91% over the past three years. Reported Earnings • Nov 07
Third quarter 2021 earnings released: EPS NT$0.47 (vs NT$0.31 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$1.18b (up 27% from 3Q 2020). Net income: NT$74.8m (up 52% from 3Q 2020). Profit margin: 6.4% (up from 5.3% in 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings. Reported Earnings • Aug 05
Second quarter 2021 earnings released: EPS NT$0.65 (vs NT$0.23 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: NT$1.46b (up 101% from 2Q 2020). Net income: NT$104.2m (up 182% from 2Q 2020). Profit margin: 7.1% (up from 5.1% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Upcoming Dividend • Jul 20
Upcoming dividend of NT$1.00 per share Eligible shareholders must have bought the stock before 27 July 2021. Payment date: 16 August 2021. Trailing yield: 2.3%. Lower than top quartile of Taiwanese dividend payers (4.9%). In line with average of industry peers (2.2%). Valuation Update With 7 Day Price Move • Jul 09
Investor sentiment improved over the past week After last week's 16% share price gain to NT$45.60, the stock trades at a trailing P/E ratio of 30.8x. Average trailing P/E is 24x in the Semiconductor industry in Taiwan. Total returns to shareholders of 78% over the past three years. Reported Earnings • May 06
First quarter 2021 earnings released: EPS NT$0.39 (vs NT$0.15 loss in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$1.07b (up 67% from 1Q 2020). Net income: NT$61.9m (up NT$86.9m from 1Q 2020). Profit margin: 5.8% (up from net loss in 1Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings. Aankondiging • Mar 19
Gallant Precision Machining Co., Ltd., Annual General Meeting, Jun 10, 2021 Gallant Precision Machining Co., Ltd., Annual General Meeting, Jun 10, 2021. Reported Earnings • Mar 17
Full year 2020 earnings released: EPS NT$0.93 (vs NT$1.51 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$3.46b (down 18% from FY 2019). Net income: NT$149.5m (down 40% from FY 2019). Profit margin: 4.3% (down from 5.9% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has increased by 26% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Feb 24
Investor sentiment improved over the past week After last week's 15% share price gain to NT$45.20, the stock is trading at a trailing P/E ratio of 61.3x, up from the previous P/E ratio of 53.3x. 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 154%. Valuation Update With 7 Day Price Move • Jan 07
Investor sentiment improved over the past week After last week's 18% share price gain to NT$49.25, the stock is trading at a trailing P/E ratio of 66.8x, up from the previous P/E ratio of 56.8x. 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 174%. Is New 90 Day High Low • Dec 30
New 90-day high: NT$42.30 The company is up 77% from its price of NT$23.90 on 30 September 2020. The Taiwanese market is up 15% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Semiconductor industry, which is up 22% over the same period. Is New 90 Day High Low • Dec 15
New 90-day high: NT$42.00 The company is up 83% from its price of NT$23.00 on 16 September 2020. The Taiwanese market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Semiconductor industry, which is up 20% over the same period. Is New 90 Day High Low • Nov 14
New 90-day high: NT$36.15 The company is up 73% from its price of NT$20.95 on 14 August 2020. The Taiwanese market is up 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Semiconductor industry, which is up 7.0% over the same period. Reported Earnings • Nov 14
Third quarter 2020 earnings released: EPS NT$0.31 The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2020 results: Revenue: NT$923.0m (down 28% from 3Q 2019). Net income: NT$49.4m (down 66% from 3Q 2019). Profit margin: 5.3% (down from 11% in 3Q 2019). The decrease in margin was driven by lower revenue. 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 19% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Oct 29
New 90-day high: NT$33.90 The company is up 62% from its price of NT$20.95 on 31 July 2020. The Taiwanese market is up 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Semiconductor industry, which is up 2.0% over the same period. Valuation Update With 7 Day Price Move • Oct 15
Market bids up stock over the past week After last week's 30% share price gain to NT$31.90, the stock is trading at a trailing P/E ratio of 24.5x, up from the previous P/E ratio of 18.8x. This compares to an average P/E of 23x in the Semiconductor industry in Taiwan. Total returns to shareholders over the past three years are 66%. Is New 90 Day High Low • Oct 13
New 90-day high: NT$26.40 The company is up 19% from its price of NT$22.20 on 15 July 2020. The Taiwanese market is up 5.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Semiconductor industry, which is up 20% over the same period. Is New 90 Day High Low • Sep 22
New 90-day high: NT$25.65 The company is up 29% from its price of NT$19.90 on 24 June 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 28% over the same period.