Declared Dividend • Jun 12
Dividend increased to NT$7.00 Dividend of NT$7.00 is 17% higher than last year. Ex-date: 29th June 2026 Payment date: 24th July 2026 Dividend yield will be 5.0%, which is higher than the industry average of 3.0%. Sustainability & Growth Dividend is not adequately covered by earnings (95% earnings payout ratio) nor is it covered by cash flows (172% cash payout ratio). The dividend has increased by an average of 8.5% 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 5.4% to bring the payout ratio under control, which is more than the 4.3% EPS growth achieved over the last 5 years. Reported Earnings • May 07
First quarter 2026 earnings released: EPS: NT$2.00 (vs NT$2.83 in 1Q 2025) First quarter 2026 results: EPS: NT$2.00 (down from NT$2.83 in 1Q 2025). Revenue: NT$728.3m (down 4.5% from 1Q 2025). Net income: NT$152.3m (down 8.4% from 1Q 2025). Profit margin: 21% (in line with 1Q 2025). Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has increased by 31% per year, which means it is tracking significantly ahead of earnings growth. Aankondiging • Mar 12
Mildef Crete Inc., Annual General Meeting, Jun 10, 2026 Mildef Crete Inc., Annual General Meeting, Jun 10, 2026. Location: 7 floor no,250, sec.3 pei shen rd., shenkeng district, new taipei city Taiwan Reported Earnings • Mar 12
Full year 2025 earnings released: EPS: NT$7.40 (vs NT$8.44 in FY 2024) Full year 2025 results: EPS: NT$7.40 (down from NT$8.44 in FY 2024). Revenue: NT$2.89b (up 1.2% from FY 2024). Net income: NT$434.1m (down 12% from FY 2024). Profit margin: 15% (down from 17% 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 13% per year but the company’s share price has increased by 28% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Nov 13
Third quarter 2025 earnings released: EPS: NT$2.66 (vs NT$1.18 in 3Q 2024) Third quarter 2025 results: EPS: NT$2.66 (up from NT$1.18 in 3Q 2024). Revenue: NT$817.6m (up 13% from 3Q 2024). Net income: NT$156.1m (up 125% from 3Q 2024). Profit margin: 19% (up from 9.6% in 3Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has increased by 33% per year, which means it is tracking significantly ahead of earnings growth. Buy Or Sell Opportunity • Nov 06
Now 23% undervalued The stock has been flat over the last 90 days, currently trading at NT$105. The fair value is estimated to be NT$137, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.3% over the last 3 years. Earnings per share has grown by 30%. Buy Or Sell Opportunity • Oct 08
Now 20% undervalued The stock has been flat over the last 90 days, currently trading at NT$110. The fair value is estimated to be NT$138, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.3% over the last 3 years. Earnings per share has grown by 30%. Valuation Update With 7 Day Price Move • Sep 09
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to NT$132, the stock trades at a trailing P/E ratio of 21x. Average trailing P/E is 23x in the Tech industry in Taiwan. Total returns to shareholders of 252% over the past three years. Buy Or Sell Opportunity • Aug 15
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 7.0% to NT$106. The fair value is estimated to be NT$134, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.3% over the last 3 years. Earnings per share has grown by 30%. New Risk • Aug 08
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: 13% Last year net profit margin: 19% 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 (95% payout ratio). Profit margins are more than 30% lower than last year (13% net profit margin). 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$111, the stock trades at a trailing P/E ratio of 12.9x. Average trailing P/E is 20x in the Tech industry in Taiwan. Total returns to shareholders of 227% over the past three years. Declared Dividend • Jun 13
Dividend increased to NT$6.00 Dividend of NT$6.00 is 11% higher than last year. Ex-date: 27th June 2025 Payment date: 25th July 2025 Dividend yield will be 6.0%, which is higher than the industry average of 3.0%. Sustainability & Growth Dividend is covered by both earnings (70% earnings payout ratio) and cash flows (75% cash payout ratio). The dividend has increased by an average of 6.8% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 15% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • May 15
First quarter 2025 earnings released: EPS: NT$2.83 (vs NT$2.66 in 1Q 2024) First quarter 2025 results: EPS: NT$2.83 (up from NT$2.66 in 1Q 2024). Revenue: NT$762.7m (flat on 1Q 2024). Net income: NT$166.1m (up 6.3% from 1Q 2024). Profit margin: 22% (up from 21% in 1Q 2024). Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has increased by 31% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Apr 29
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to NT$105, the stock trades at a trailing P/E ratio of 12.4x. Average trailing P/E is 18x in the Tech industry in Taiwan. Total returns to shareholders of 153% over the past three years. Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to NT$97.20, the stock trades at a trailing P/E ratio of 11.5x. Average trailing P/E is 18x in the Tech industry in Taiwan. Total returns to shareholders of 124% over the past three years. Reported Earnings • Mar 19
Full year 2024 earnings released: EPS: NT$8.44 (vs NT$7.85 in FY 2023) Full year 2024 results: EPS: NT$8.44 (up from NT$7.85 in FY 2023). Revenue: NT$2.85b (down 4.5% from FY 2023). Net income: NT$495.2m (up 7.5% from FY 2023). Profit margin: 17% (up from 15% in FY 2023). The increase in margin was driven by lower expenses. 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 30% per year, which means it is tracking significantly ahead of earnings growth. Aankondiging • Mar 13
Mildef Crete Inc., Annual General Meeting, Jun 11, 2025 Mildef Crete Inc., Annual General Meeting, Jun 11, 2025. Location: 7 floor no,250, sec.3 pei shen rd., shenkeng district, new taipei city Taiwan Valuation Update With 7 Day Price Move • Mar 11
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to NT$122, the stock trades at a trailing P/E ratio of 12.7x. Average trailing P/E is 21x in the Tech industry in Taiwan. Total returns to shareholders of 141% over the past three years. New Risk • Feb 26
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 6.1% 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: Minor Risks Dividend is not well covered by cash flows (112% cash payout ratio). Share price has been volatile over the past 3 months (6.1% average weekly change). Valuation Update With 7 Day Price Move • Feb 21
Investor sentiment improves as stock rises 26% After last week's 26% share price gain to NT$124, the stock trades at a trailing P/E ratio of 12.9x. Average trailing P/E is 22x in the Tech industry in Taiwan. Total returns to shareholders of 146% over the past three years. Valuation Update With 7 Day Price Move • Feb 07
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$96.20, the stock trades at a trailing P/E ratio of 10x. Average trailing P/E is 21x in the Tech industry in Taiwan. Total returns to shareholders of 90% over the past three years. Reported Earnings • Nov 18
Third quarter 2024 earnings released: EPS: NT$1.18 (vs NT$2.06 in 3Q 2023) Third quarter 2024 results: EPS: NT$1.18 (down from NT$2.06 in 3Q 2023). Revenue: NT$723.3m (down 21% from 3Q 2023). Net income: NT$69.5m (down 43% from 3Q 2023). Profit margin: 9.6% (down from 13% in 3Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 12% per year, which means it is well ahead of earnings. Reported Earnings • Aug 09
Second quarter 2024 earnings released: EPS: NT$2.90 (vs NT$2.17 in 2Q 2023) Second quarter 2024 results: EPS: NT$2.90 (up from NT$2.17 in 2Q 2023). Revenue: NT$727.4m (up 5.9% from 2Q 2023). Net income: NT$170.4m (up 34% from 2Q 2023). Profit margin: 23% (up from 19% in 2Q 2023). Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 17% per year, which means it is well ahead of earnings. Upcoming Dividend • Jun 27
Upcoming dividend of NT$5.40 per share Eligible shareholders must have bought the stock before 04 July 2024. Payment date: 02 August 2024. Payout ratio is a comfortable 55% and the cash payout ratio is 83%. Trailing yield: 4.8%. Within top quartile of Taiwanese dividend payers (4.2%). Higher than average of industry peers (2.8%). Reported Earnings • May 13
First quarter 2024 earnings released: EPS: NT$2.66 (vs NT$0.78 in 1Q 2023) First quarter 2024 results: EPS: NT$2.66 (up from NT$0.78 in 1Q 2023). Revenue: NT$758.0m (up 19% from 1Q 2023). Net income: NT$156.3m (up 240% from 1Q 2023). Profit margin: 21% (up from 7.2% 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 14% per year but the company’s share price has increased by 22% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Apr 10
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$112, the stock trades at a trailing P/E ratio of 14.2x. Average trailing P/E is 25x in the Tech industry in Taiwan. Total returns to shareholders of 138% over the past three years. Buy Or Sell Opportunity • Apr 03
Now 27% overvalued after recent price rise Over the last 90 days, the stock has risen 16% to NT$96.70. The fair value is estimated to be NT$76.34, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 16%. Reported Earnings • Mar 17
Full year 2023 earnings released: EPS: NT$7.85 (vs NT$3.89 in FY 2022) Full year 2023 results: EPS: NT$7.85 (up from NT$3.89 in FY 2022). Revenue: NT$2.99b (up 10% from FY 2022). Net income: NT$460.8m (up 102% from FY 2022). Profit margin: 15% (up from 8.4% 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 16% per year but the company’s share price has increased by 15% per year, which means it is well ahead of earnings. Aankondiging • Mar 16
Mildef Crete Inc., Annual General Meeting, Jun 12, 2024 Mildef Crete Inc., Annual General Meeting, Jun 12, 2024. Reported Earnings • Nov 12
Third quarter 2023 earnings released: EPS: NT$2.06 (vs NT$1.31 in 3Q 2022) Third quarter 2023 results: EPS: NT$2.06 (up from NT$1.31 in 3Q 2022). Revenue: NT$919.0m (up 21% from 3Q 2022). Net income: NT$121.0m (up 57% from 3Q 2022). Profit margin: 13% (up from 10% in 3Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has increased by 14% per year, which means it is well ahead of earnings. New Risk • Nov 03
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 7.9% 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 (7.9% average weekly change). Minor Risk Dividend is not well covered by cash flows (125% cash payout ratio). Valuation Update With 7 Day Price Move • Sep 11
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to NT$80.30, the stock trades at a trailing P/E ratio of 13.4x. Average trailing P/E is 21x in the Tech industry in Taiwan. Total returns to shareholders of 112% over the past three years. New Risk • Aug 16
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 6.3% 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: Minor Risks Dividend is not well covered by cash flows (125% cash payout ratio). Share price has been volatile over the past 3 months (6.3% average weekly change). Reported Earnings • Aug 07
Second quarter 2023 earnings released: EPS: NT$2.17 (vs NT$0.61 in 2Q 2022) Second quarter 2023 results: EPS: NT$2.17 (up from NT$0.61 in 2Q 2022). Revenue: NT$686.8m (down 1.7% from 2Q 2022). Net income: NT$127.6m (up 256% from 2Q 2022). Profit margin: 19% (up from 5.1% 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 10% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings. Upcoming Dividend • Jun 29
Upcoming dividend of NT$3.60 per share at 6.0% yield Eligible shareholders must have bought the stock before 06 July 2023. Payment date: 03 August 2023. Payout ratio is on the higher end at 81%, and the cash payout ratio is above 100%. Trailing yield: 6.0%. Within top quartile of Taiwanese dividend payers (5.5%). Higher than average of industry peers (4.0%). Reported Earnings • Apr 01
Full year 2022 earnings released: EPS: NT$3.89 (vs NT$10.88 in FY 2021) Full year 2022 results: EPS: NT$3.89 (down from NT$10.88 in FY 2021). Revenue: NT$2.71b (down 3.5% from FY 2021). Net income: NT$228.3m (down 64% from FY 2021). Profit margin: 8.4% (down from 23% in FY 2021). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 5% per year whereas the company’s share price has increased by 7% per year. 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. 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. Reported Earnings • Aug 15
Second quarter 2022 earnings released: EPS: NT$0.61 (vs NT$7.65 in 2Q 2021) Second quarter 2022 results: EPS: NT$0.61 (down from NT$7.65 in 2Q 2021). Revenue: NT$698.8m (down 19% from 2Q 2021). Net income: NT$35.9m (down 92% from 2Q 2021). Profit margin: 5.1% (down from 52% in 2Q 2021). Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jun 20
Upcoming dividend of NT$3.70 per share Eligible shareholders must have bought the stock before 27 June 2022. Payment date: 22 July 2022. Payout ratio is a comfortable 36% but the company is paying out more than the cash it is generating. Trailing yield: 7.5%. Within top quartile of Taiwanese dividend payers (6.2%). In line with average of industry peers (7.1%). Buying Opportunity • Jun 07
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 20%. The fair value is estimated to be NT$63.48, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.2% over the last 3 years. Earnings per share has grown by 46%. Buying Opportunity • May 09
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 17%. The fair value is estimated to be NT$63.77, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.2% over the last 3 years. Earnings per share has grown by 46%. Reported Earnings • May 09
First quarter 2022 earnings released: EPS: NT$0.23 (vs NT$0.72 in 1Q 2021) First quarter 2022 results: EPS: NT$0.23 (down from NT$0.72 in 1Q 2021). Revenue: NT$546.7m (down 12% from 1Q 2021). Net income: NT$13.2m (down 69% from 1Q 2021). Profit margin: 2.4% (down from 6.8% in 1Q 2021). Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Reported Earnings • Mar 30
Full year 2021 earnings released: EPS: NT$10.87 (vs NT$5.51 in FY 2020) Full year 2021 results: EPS: NT$10.87 (up from NT$5.51 in FY 2020). Revenue: NT$2.81b (down 5.6% from FY 2020). Net income: NT$638.2m (up 97% from FY 2020). Profit margin: 23% (up from 11% in FY 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 49% 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 • Nov 10
Third quarter 2021 earnings released: EPS NT$2.02 (vs NT$1.73 in 3Q 2020) The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2021 results: Revenue: NT$822.7m (down 14% from 3Q 2020). Net income: NT$118.8m (up 17% from 3Q 2020). Profit margin: 14% (up from 11% in 3Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 15
Second quarter 2021 earnings released: EPS NT$7.65 (vs NT$1.02 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: NT$859.0m (up 35% from 2Q 2020). Net income: NT$448.9m (up NT$389.0m from 2Q 2020). Profit margin: 52% (up from 9.4% in 2Q 2020). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jul 26
Upcoming dividend of NT$4.50 per share Eligible shareholders must have bought the stock before 02 August 2021. Payment date: 27 August 2021. Trailing yield: 7.4%. Within top quartile of Taiwanese dividend payers (4.9%). Higher than average of industry peers (5.1%). Reported Earnings • May 07
First quarter 2021 earnings released: EPS NT$0.72 (vs NT$0.42 in 1Q 2020) The company reported a decent first quarter result with improved earnings and profit margins, although revenues were weaker. First quarter 2021 results: Revenue: NT$620.3m (down 2.3% from 1Q 2020). Net income: NT$42.2m (up 72% from 1Q 2020). Profit margin: 6.8% (up from 3.9% in 1Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Reported Earnings • Mar 25
Full year 2020 earnings released: EPS NT$5.51 (vs NT$4.74 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$2.98b (up 5.4% from FY 2019). Net income: NT$323.3m (up 16% from FY 2019). Profit margin: 11% (up from 9.9% 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 4% per year whereas the company’s share price has increased by 2% per year. Is New 90 Day High Low • Feb 23
New 90-day high: NT$51.30 The company is up 7.0% from its price of NT$47.80 on 25 November 2020. The Taiwanese market is up 18% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Tech industry, which is up 11% over the same period. Is New 90 Day High Low • Jan 27
New 90-day high: NT$50.70 The company is up 10.0% from its price of NT$46.30 on 30 October 2020. The Taiwanese market is up 21% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Tech industry, which is up 11% over the same period. Is New 90 Day High Low • Dec 28
New 90-day high: NT$49.95 The company is up 9.0% from its price of NT$45.75 on 30 September 2020. The Taiwanese market is up 15% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Tech industry, which is up 6.0% over the same period. Is New 90 Day High Low • Nov 25
New 90-day high: NT$47.80 The company is up 7.0% from its price of NT$44.75 on 27 August 2020. The Taiwanese market is also up 7.0% over the last 90 days, indicating the company’s price trend is similar to the market over that time. However, it outperformed the Tech industry, which is down 2.0% over the same period. Reported Earnings • Nov 15
Third quarter 2020 earnings released: EPS NT$1.73 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: NT$957.5m (up 18% from 3Q 2019). Net income: NT$101.6m (up 104% from 3Q 2019). Profit margin: 11% (up from 6.2% in 3Q 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 6% per year whereas the company’s share price has fallen by 5% per year.