New Risk • Aug 14
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 20% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (14% average weekly change). High level of non-cash earnings (20% accrual ratio). Declared Dividend • Jun 04
Dividend increased to NT$1.00 Dividend of NT$1.00 is 100% higher than last year. Ex-date: 17th June 2026 Payment date: 9th July 2026 Dividend yield will be 0.2%, which is lower than the industry average of 3.0%. Reported Earnings • May 07
First quarter 2026 earnings released: EPS: NT$0.69 (vs NT$2.34 in 1Q 2025) First quarter 2026 results: EPS: NT$0.69 (down from NT$2.34 in 1Q 2025). Revenue: NT$2.09b (down 24% from 1Q 2025). Net income: NT$100.4m (down 71% from 1Q 2025). Profit margin: 4.8% (down from 12% in 1Q 2025). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 85% per year but the company’s share price has increased by 119% per year, which means it is tracking significantly ahead of earnings growth. New Risk • May 05
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 12% 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 (12% average weekly change). High level of non-cash earnings (22% accrual ratio). Valuation Update With 7 Day Price Move • Apr 29
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to NT$302, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 27x in the Semiconductor industry in Taiwan. Total returns to shareholders of 731% over the past three years. Valuation Update With 7 Day Price Move • Apr 09
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to NT$289, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 23x in the Semiconductor industry in Taiwan. Total returns to shareholders of 636% over the past three years. Aankondiging • Mar 13
Elite Advanced Laser Corporation, Annual General Meeting, May 29, 2026 Elite Advanced Laser Corporation, Annual General Meeting, May 29, 2026. Location: 3 floor no,189, hsien min ta ta, banciao district, new taipei city Taiwan Reported Earnings • Mar 13
Full year 2025 earnings released: EPS: NT$5.01 (vs NT$3.82 in FY 2024) Full year 2025 results: EPS: NT$5.01 (up from NT$3.82 in FY 2024). Revenue: NT$8.58b (up 13% from FY 2024). Net income: NT$729.8m (up 31% from FY 2024). Profit margin: 8.5% (up from 7.4% 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 90% per year whereas the company’s share price has increased by 92% per year. Valuation Update With 7 Day Price Move • Feb 24
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$280, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 24x in the Semiconductor industry in Taiwan. Total returns to shareholders of 598% over the past three years. Valuation Update With 7 Day Price Move • Nov 28
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to NT$252, the stock trades at a forward P/E ratio of 24x. Average forward P/E is 21x in the Semiconductor industry in Taiwan. Total returns to shareholders of 530% over the past three years. New Risk • Nov 18
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 8.8% 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. This is currently the only risk that has been identified for the company. Reported Earnings • Nov 15
Third quarter 2025 earnings released: EPS: NT$0.61 (vs NT$1.04 in 3Q 2024) Third quarter 2025 results: EPS: NT$0.61 (down from NT$1.04 in 3Q 2024). Revenue: NT$1.86b (down 12% from 3Q 2024). Net income: NT$88.9m (down 41% from 3Q 2024). Profit margin: 4.8% (down from 7.2% in 3Q 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 38% p.a. on average during the next 2 years, compared to a 16% growth forecast for the Semiconductor industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 82% per year whereas the company’s share price has increased by 86% per year. Valuation Update With 7 Day Price Move • Oct 14
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to NT$241, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 26x in the Semiconductor industry in Taiwan. Total returns to shareholders of 575% over the past three years. Major Estimate Revision • Sep 25
Consensus revenue estimates decrease by 15%, EPS upgraded The consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast fell from NT$10.5b to NT$8.97b. EPS estimate increased from NT$6.50 to NT$6.72 per share. Net income forecast to grow 58% next year vs 27% growth forecast for Semiconductor industry in Taiwan. Consensus price target up from NT$300 to NT$360. Share price rose 21% to NT$274 over the past week. Valuation Update With 7 Day Price Move • Sep 19
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to NT$249, the stock trades at a forward P/E ratio of 30x. Average forward P/E is 25x in the Semiconductor industry in Taiwan. Total returns to shareholders of 478% over the past three years. Reported Earnings • Aug 15
Second quarter 2025 earnings: EPS and revenues miss analyst expectations Second quarter 2025 results: EPS: NT$0.53 (up from NT$0.47 in 2Q 2024). Revenue: NT$1.85b (up 8.4% from 2Q 2024). Net income: NT$77.2m (up 12% from 2Q 2024). Profit margin: 4.2% (up from 4.0% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 8.6%. Earnings per share (EPS) also missed analyst estimates by 13%. Revenue is forecast to grow 37% 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 65% per year whereas the company’s share price has increased by 64% per year. New Risk • Jun 18
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. This is currently the only risk that has been identified for the company. Major Estimate Revision • Jun 17
Consensus revenue estimates fall by 35% The consensus outlook for revenues in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from NT$16.2b to NT$10.5b. EPS estimate fell from NT$11.01 to NT$6.50 per share. Net income forecast to grow 26% next year vs 17% growth forecast for Semiconductor industry in Taiwan. Consensus price target down from NT$330 to NT$300. Share price rose 18% to NT$225 over the past week. Valuation Update With 7 Day Price Move • Jun 16
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to NT$217, the stock trades at a trailing P/E ratio of 37x. Average forward P/E is 16x in the Semiconductor industry in Taiwan. Total returns to shareholders of 444% over the past three years. Upcoming Dividend • Jun 16
Upcoming dividend of NT$0.50 per share Eligible shareholders must have bought the stock before 23 June 2025. Payment date: 11 July 2025. Payout ratio is a comfortable 8.5% and this is well supported by cash flows. Trailing yield: 0.2%. Lower than top quartile of Taiwanese dividend payers (5.2%). Lower than average of industry peers (2.3%). Aankondiging • May 29
Elite Advanced Laser Corporation Approves Cash Dividend for the Year 2024 Elite Advanced Laser Corporation announced that at its shareholders meeting held on May 28, 2025, shareholders approved cash dividend of TWD 0.5 per share for the year 2024. 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$218, the stock trades at a trailing P/E ratio of 37.2x. Average forward P/E is 16x in the Semiconductor industry in Taiwan. Total returns to shareholders of 432% over the past three years. Reported Earnings • May 09
First quarter 2025 earnings: EPS and revenues exceed analyst expectations First quarter 2025 results: EPS: NT$2.34 (up from NT$0.30 in 1Q 2024). Revenue: NT$2.76b (up 115% from 1Q 2024). Net income: NT$340.6m (up NT$296.2m from 1Q 2024). Profit margin: 12% (up from 3.5% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.2%. Earnings per share (EPS) also surpassed analyst estimates by 71%. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has increased by 70% per year, which means it is tracking significantly ahead of earnings growth. Aankondiging • May 01
Elite Advanced Laser Corporation to Report Q1, 2025 Results on May 08, 2025 Elite Advanced Laser Corporation announced that they will report Q1, 2025 results on May 08, 2025 Valuation Update With 7 Day Price Move • Apr 29
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$209, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 17x in the Semiconductor industry in Taiwan. Total returns to shareholders of 403% over the past three years. Valuation Update With 7 Day Price Move • Apr 01
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to NT$231, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 18x in the Semiconductor industry in Taiwan. Total returns to shareholders of 394% over the past three years. Aankondiging • Mar 13
Elite Advanced Laser Corporation, Annual General Meeting, May 28, 2025 Elite Advanced Laser Corporation, Annual General Meeting, May 28, 2025, at 09:00 Taipei Standard Time. Location: 3 floor no,88, min ch`uan rd., banciao district, new taipei city Taiwan Reported Earnings • Mar 13
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: NT$3.82 (up from NT$0.52 loss in FY 2023). Revenue: NT$7.57b (up 40% from FY 2023). Net income: NT$556.4m (up NT$632.6m from FY 2023). Profit margin: 7.4% (up from net loss in FY 2023). The move to profitability was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 4.1%. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has increased by 74% per year, which means it is well ahead of earnings. Aankondiging • Mar 04
Elite Advanced Laser Corporation to Report Fiscal Year 2024 Results on Mar 11, 2025 Elite Advanced Laser Corporation announced that they will report fiscal year 2024 results at 12:00 PM, Taipei Standard Time on Mar 11, 2025 Reported Earnings • Nov 17
Third quarter 2024 earnings released: EPS: NT$1.04 (vs NT$0.14 loss in 3Q 2023) Third quarter 2024 results: EPS: NT$1.04 (up from NT$0.14 loss in 3Q 2023). Revenue: NT$2.10b (up 49% from 3Q 2023). Net income: NT$151.0m (up NT$172.1m from 3Q 2023). Profit margin: 7.2% (up from net loss in 3Q 2023). The move to profitability was driven by higher revenue. Revenue is forecast to grow 69% p.a. on average during the next 2 years, compared to a 17% growth forecast for the Semiconductor industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 62% per year but the company’s share price has increased by 59% per year, which means it is well ahead of earnings. Aankondiging • Nov 07
Elite Advanced Laser Corporation to Report Q3, 2024 Results on Nov 14, 2024 Elite Advanced Laser Corporation announced that they will report Q3, 2024 results on Nov 14, 2024 Reported Earnings • Aug 10
Second quarter 2024 earnings released: EPS: NT$0.47 (vs NT$0.091 loss in 2Q 2023) Second quarter 2024 results: EPS: NT$0.47 (up from NT$0.091 loss in 2Q 2023). Revenue: NT$1.70b (up 32% from 2Q 2023). Net income: NT$69.0m (up NT$82.3m from 2Q 2023). Profit margin: 4.0% (up from net loss in 2Q 2023). The move to profitability was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 108 percentage points per year, which is a significant difference in performance. Aankondiging • Aug 01
Elite Advanced Laser Corporation to Report Q2, 2024 Results on Aug 08, 2024 Elite Advanced Laser Corporation announced that they will report Q2, 2024 results on Aug 08, 2024 New Risk • Jun 05
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 32% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 31% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (8.2% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.2% net profit margin). Reported Earnings • May 15
First quarter 2024 earnings released: EPS: NT$0.31 (vs NT$0.28 loss in 1Q 2023) First quarter 2024 results: EPS: NT$0.31 (up from NT$0.28 loss in 1Q 2023). Revenue: NT$1.29b (up 1.8% from 1Q 2023). Net income: NT$44.4m (up NT$84.5m from 1Q 2023). Profit margin: 3.5% (up from net loss in 1Q 2023). The move to profitability was primarily driven by lower expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 82 percentage points per year, which is a significant difference in performance. Aankondiging • May 02
Elite Advanced Laser Corporation to Report Q1, 2024 Results on May 09, 2024 Elite Advanced Laser Corporation announced that they will report Q1, 2024 results at 9:00 AM, Taipei Standard Time on May 09, 2024 Reported Earnings • Mar 19
Full year 2023 earnings released: NT$0.52 loss per share (vs NT$1.32 profit in FY 2022) Full year 2023 results: NT$0.52 loss per share (down from NT$1.32 profit in FY 2022). Revenue: NT$5.40b (down 20% from FY 2022). Net loss: NT$76.2m (down 140% from profit in FY 2022). Over the last 3 years on average, earnings per share has fallen by 60% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Aankondiging • Mar 16
Elite Advanced Laser Corporation, Annual General Meeting, Jun 07, 2024 Elite Advanced Laser Corporation, Annual General Meeting, Jun 07, 2024. Reported Earnings • Aug 11
Second quarter 2023 earnings released: NT$0.09 loss per share (vs NT$0.51 profit in 2Q 2022) Second quarter 2023 results: NT$0.09 loss per share (down from NT$0.51 profit in 2Q 2022). Revenue: NT$1.29b (down 29% from 2Q 2022). Net loss: NT$13.2m (down 118% from profit in 2Q 2022). Over the last 3 years on average, earnings per share has fallen by 21% per year whereas the company’s share price has fallen by 17% per year. Valuation Update With 7 Day Price Move • Jul 26
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to NT$48.00, the stock trades at a trailing P/E ratio of 77.9x. Average trailing P/E is 19x in the Semiconductor industry in Taiwan. Total loss to shareholders of 24% over the past three years. Upcoming Dividend • Jun 19
Upcoming dividend of NT$0.50 per share at 1.3% yield Eligible shareholders must have bought the stock before 26 June 2023. Payment date: 11 July 2023. Payout ratio is on the higher end at 81%, however this is supported by cash flows. Trailing yield: 1.3%. Lower than top quartile of Taiwanese dividend payers (5.4%). Lower than average of industry peers (3.1%). Reported Earnings • Jun 02
First quarter 2023 earnings released: NT$0.28 loss per share (vs NT$0.43 profit in 1Q 2022) First quarter 2023 results: NT$0.28 loss per share (down from NT$0.43 profit in 1Q 2022). Revenue: NT$1.26b (down 24% from 1Q 2022). Net loss: NT$40.1m (down 165% from profit in 1Q 2022). Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has fallen by 18% per year, which means it is performing significantly worse than earnings. Reported Earnings • Mar 28
Full year 2022 earnings released: EPS: NT$1.32 (vs NT$2.55 in FY 2021) Full year 2022 results: EPS: NT$1.32 (down from NT$2.55 in FY 2021). Revenue: NT$6.78b (down 5.9% from FY 2021). Net income: NT$191.8m (down 48% from FY 2021). Profit margin: 2.8% (down from 5.2% 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 5% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Reported Earnings • Nov 16
Third quarter 2022 earnings released: EPS: NT$0.60 (vs NT$0.73 in 3Q 2021) Third quarter 2022 results: EPS: NT$0.60 (down from NT$0.73 in 3Q 2021). Revenue: NT$1.78b (down 2.6% from 3Q 2021). Net income: NT$87.6m (down 18% from 3Q 2021). Profit margin: 4.9% (down from 5.8% 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 9% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Board Change • Nov 16
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. 9 experienced directors. No highly experienced directors. 2 independent directors (5 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Nov 13
Third quarter 2022 earnings released: EPS: NT$0.60 (vs NT$0.73 in 3Q 2021) Third quarter 2022 results: EPS: NT$0.60 (down from NT$0.73 in 3Q 2021). Revenue: NT$1.78b (down 2.6% from 3Q 2021). Net income: NT$87.6m (down 18% from 3Q 2021). Profit margin: 4.9% (down from 5.8% 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 9% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 15
Second quarter 2022 earnings released: EPS: NT$0.51 (vs NT$0.75 in 2Q 2021) Second quarter 2022 results: EPS: NT$0.51 (down from NT$0.75 in 2Q 2021). Revenue: NT$1.81b (down 1.7% from 2Q 2021). Net income: NT$74.6m (down 31% from 2Q 2021). Profit margin: 4.1% (down from 5.9% in 2Q 2021). Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Upcoming Dividend • Jul 11
Upcoming dividend of NT$1.80 per share Eligible shareholders must have bought the stock before 18 July 2022. Payment date: 08 August 2022. Payout ratio is on the higher end at 77% but the company is not cash flow positive. Trailing yield: 4.4%. Lower than top quartile of Taiwanese dividend payers (6.7%). Higher than average of industry peers (3.8%). Reported Earnings • May 16
First quarter 2022 earnings: EPS and revenues miss analyst expectations First quarter 2022 results: EPS: NT$0.43 (down from NT$0.62 in 1Q 2021). Revenue: NT$1.67b (down 4.4% from 1Q 2021). Net income: NT$62.0m (down 32% from 1Q 2021). Profit margin: 3.7% (down from 5.2% in 1Q 2021). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 1.6%. Earnings per share (EPS) also missed analyst estimates by 40%. Over the last 3 years on average, earnings per share has fallen by 4% per year whereas the company’s share price has fallen by 7% per year. Board Change • Apr 27
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. 9 experienced directors. No highly experienced directors. 2 independent directors (5 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Nov 12
Third quarter 2021 earnings released: EPS NT$0.73 (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$1.83b (up 12% from 3Q 2020). Net income: NT$106.6m (up 133% from 3Q 2020). Profit margin: 5.8% (up from 2.8% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Reported Earnings • Aug 12
Second quarter 2021 earnings released: EPS NT$0.75 (vs NT$0.58 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: NT$1.84b (up 11% from 2Q 2020). Net income: NT$108.7m (up 29% from 2Q 2020). Profit margin: 5.9% (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 42% 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. Upcoming Dividend • Aug 10
Upcoming dividend of NT$1.40 per share Eligible shareholders must have bought the stock before 17 August 2021. Payment date: 10 September 2021. Trailing yield: 2.4%. Lower than top quartile of Taiwanese dividend payers (5.0%). Higher than average of industry peers (2.1%). Price Target Changed • Jun 16
Price target decreased to NT$67.00 Down from NT$73.00, the current price target is provided by 1 analyst. New target price is 15% above last closing price of NT$58.50. Stock is down 18% over the past year. Reported Earnings • May 15
First quarter 2021 earnings released: EPS NT$0.62 (vs NT$0.43 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$1.74b (up 36% from 1Q 2020). Net income: NT$90.7m (up 44% from 1Q 2020). Profit margin: 5.2% (up from 4.9% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 46% 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. Valuation Update With 7 Day Price Move • May 12
Investor sentiment deteriorated over the past week After last week's 15% share price decline to NT$51.60, the stock trades at a trailing P/E ratio of 31.2x. Average trailing P/E is 23x in the Semiconductor industry in Taiwan. Total loss to shareholders of 39% over the past three years. Reported Earnings • Mar 20
Full year 2020 earnings released: EPS NT$1.65 (vs NT$1.64 in FY 2019) The company reported a mediocre full year result with weaker profit margins, although earnings were flat and revenues improved. Full year 2020 results: Revenue: NT$6.21b (up 8.0% from FY 2019). Net income: NT$240.9m (flat on FY 2019). Profit margin: 3.9% (down from 4.2% in FY 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 47% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Jan 28
New 90-day low: NT$61.70 The company is down 3.0% from its price of NT$63.30 on 30 October 2020. The Taiwanese market is up 23% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Semiconductor industry, which is up 40% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is NT$233 per share. Is New 90 Day High Low • Nov 20
New 90-day high: NT$69.40 The company is up 9.0% from its price of NT$63.60 on 21 August 2020. The Taiwanese market is also up 9.0% over the last 90 days, indicating the company’s price trend is similar to the market over that time. However, it underperformed the Semiconductor industry, which is up 16% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is NT$196 per share. Analyst Estimate Surprise Post Earnings • Nov 15
Revenue and earnings miss expectations Revenue missed analyst estimates by 0.4%. Earnings per share (EPS) also missed analyst estimates by 62%. Over the next year, revenue is forecast to grow 16%, compared to a 13% growth forecast for the Semiconductor industry in Taiwan. Reported Earnings • Nov 15
Third quarter 2020 earnings released: EPS NT$0.31 The company reported a soft third quarter result with weaker earnings and profit margins, although revenues were improved. Third quarter 2020 results: Revenue: NT$1.64b (up 11% from 3Q 2019). Net income: NT$45.7m (down 37% from 3Q 2019). Profit margin: 2.8% (down from 4.9% in 3Q 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 46% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings.