Reported Earnings • May 18
First quarter 2026 earnings released: NT$1.00 loss per share (vs NT$1.09 profit in 1Q 2025) First quarter 2026 results: NT$1.00 loss per share (down from NT$1.09 profit in 1Q 2025). Revenue: NT$5.15b (down 4.5% from 1Q 2025). Net loss: NT$180.6m (down 196% from profit in 1Q 2025). Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has fallen by 13% per year, which means it is performing significantly worse than earnings. Reported Earnings • Mar 27
Full year 2025 earnings released: EPS: NT$2.77 (vs NT$2.30 in FY 2024) Full year 2025 results: EPS: NT$2.77 (up from NT$2.30 in FY 2024). Revenue: NT$24.4b (up 7.4% from FY 2024). Net income: NT$479.8m (up 21% from FY 2024). Profit margin: 2.0% (up from 1.8% in FY 2024). The increase in margin was driven by higher revenue. 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 15% per year, which means it is performing significantly worse than earnings. Aankondiging • Mar 11
Speed Tech Corp., Annual General Meeting, Jun 16, 2026 Speed Tech Corp., Annual General Meeting, Jun 16, 2026. Location: b2 floor no,108, sec.1 tun hua s. rd., songshan district, taipei city Taiwan Aankondiging • Dec 18
Speed Tech Corp. has filed a Follow-on Equity Offering. Speed Tech Corp. has filed a Follow-on Equity Offering.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 19,800,000
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 2,200,000
Transaction Features: Subsequent Direct Listing Board Change • Dec 13
High number of new directors There are 6 new directors who have joined the board in the last 3 years. Independent Director Ding-Jun Zhong was the last director to join the board, commencing their role in 2025. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 18
Third quarter 2025 earnings released: EPS: NT$1.06 (vs NT$1.49 in 3Q 2024) Third quarter 2025 results: EPS: NT$1.06 (down from NT$1.49 in 3Q 2024). Revenue: NT$7.15b (flat on 3Q 2024). Net income: NT$183.1m (down 29% from 3Q 2024). Profit margin: 2.6% (down from 3.6% in 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Sep 23
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to NT$51.70, the stock trades at a trailing P/E ratio of 20.7x. Average forward P/E is 17x in the Electronic industry in Taiwan. Total returns to shareholders of 2.0% over the past three years. Reported Earnings • Aug 15
Second quarter 2025 earnings released: NT$0.61 loss per share (vs NT$0.005 profit in 2Q 2024) Second quarter 2025 results: NT$0.61 loss per share (down from NT$0.005 profit in 2Q 2024). Revenue: NT$5.53b (up 12% from 2Q 2024). Net loss: NT$105.7m (down NT$106.6m from profit in 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Jul 23
Upcoming dividend of NT$1.30 per share Eligible shareholders must have bought the stock before 30 July 2025. Payment date: 25 August 2025. Payout ratio is a comfortable 41% and this is well supported by cash flows. Trailing yield: 3.2%. Lower than top quartile of Taiwanese dividend payers (5.3%). In line with average of industry peers (3.0%). Declared Dividend • Jul 05
Dividend of NT$1.30 announced Shareholders will receive a dividend of NT$1.30. Ex-date: 30th July 2025 Payment date: 25th August 2025 Dividend yield will be 3.2%, which is lower than the industry average of 4.0%. Sustainability & Growth Dividend is well covered by both earnings (41% earnings payout ratio) and cash flows (19% cash payout ratio). The dividend has increased by an average of 11% per year over the past 9 years. However, payments have been volatile during that time. Earnings per share has remained steady over the last 5 years. Unless this trend deteriorates, it should provide adequate earnings cover for the dividend. New Risk • May 28
New minor risk - Dividend sustainability The company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 2.9% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 15% per year over the past 5 years. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Reported Earnings • May 16
First quarter 2025 earnings released: EPS: NT$1.09 (vs NT$0.24 in 1Q 2024) First quarter 2025 results: EPS: NT$1.09 (up from NT$0.24 in 1Q 2024). Revenue: NT$5.39b (up 29% from 1Q 2024). Net income: NT$188.4m (up 346% from 1Q 2024). Profit margin: 3.5% (up from 1.0% in 1Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 40% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Aankondiging • May 06
Speed Tech Corp. to Report Q1, 2025 Results on May 13, 2025 Speed Tech Corp. announced that they will report Q1, 2025 results on May 13, 2025 New Risk • May 02
New major risk - Revenue and earnings growth Earnings have declined by 13% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to NT$37.75, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 13x in the Electronic industry in Taiwan. Total loss to shareholders of 23% over the past three years. Aankondiging • Mar 11
Speed Tech Corp., Annual General Meeting, Jun 26, 2025 Speed Tech Corp., Annual General Meeting, Jun 26, 2025. Location: 3 floor no,300, sec.1 chuang ching rd., taoyuan district, taoyuan city Taiwan Aankondiging • Mar 01
Speed Tech Corp. to Report Fiscal Year 2024 Results on Mar 10, 2025 Speed Tech Corp. announced that they will report fiscal year 2024 results on Mar 10, 2025 New Risk • Dec 06
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 Share price has been volatile over the past 3 months (6.3% average weekly change). Shareholders have been diluted in the past year (2.1% increase in shares outstanding). Valuation Update With 7 Day Price Move • Dec 05
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to NT$63.40, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 15x in the Electronic industry in Taiwan. Total loss to shareholders of 10% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$122 per share. Aankondiging • Nov 23
Speed Tech Corp. Announces the Resignation of Shen, Chun-Hsi as Institutional Director Representative Speed Tech Corp. announced the resignation of Shen, Chun-Hsi as Institutional director representative. Resume of the previous position holder: Speed Tech Corp., Special Assistant to the Chairman. Date of occurrence of the change: November 22, 2024. Reported Earnings • Nov 17
Third quarter 2024 earnings: EPS and revenues exceed analyst expectations Third quarter 2024 results: EPS: NT$1.49 (up from NT$1.30 in 3Q 2023). Revenue: NT$7.12b (up 49% from 3Q 2023). Net income: NT$256.7m (up 15% from 3Q 2023). Profit margin: 3.6% (down from 4.7% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 25%. Earnings per share (EPS) also surpassed analyst estimates by 50%. Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 14% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 48% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Nov 11
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$56.80, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 15x in the Electronic industry in Taiwan. Total loss to shareholders of 23% over the past three years. Aankondiging • Nov 01
Speed Tech Corp. to Report Q3, 2024 Results on Nov 08, 2024 Speed Tech Corp. announced that they will report Q3, 2024 results on Nov 08, 2024 New Risk • Oct 22
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.1% 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. This is currently the only risk that has been identified for the company. Buy Or Sell Opportunity • Sep 03
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 16% to NT$49.25. The fair value is estimated to be NT$61.69, however this is not to be taken as a buy 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 43%. Revenue is forecast to grow by 21% in a year. Earnings are forecast to grow by 114% in the next year. Reported Earnings • Aug 16
Second quarter 2024 earnings: EPS misses analyst expectations Second quarter 2024 results: EPS: NT$0.01. Revenue: NT$4.92b (up 16% from 2Q 2023). Net income: NT$883.0k (down 31% from 2Q 2023). Profit margin: 0% (in line with 2Q 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 98%. Revenue is forecast to grow 17% p.a. on average during the next 2 years, compared to a 14% growth forecast for the Electronic industry in Taiwan. Valuation Update With 7 Day Price Move • Aug 06
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to NT$43.15, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 15x in the Electronic industry in Taiwan. Total loss to shareholders of 36% over the past three years. Aankondiging • Aug 02
Speed Tech Corp. to Report Q2, 2024 Results on Aug 09, 2024 Speed Tech Corp. announced that they will report Q2, 2024 results on Aug 09, 2024 Upcoming Dividend • Jul 25
Upcoming dividend of NT$0.32 per share Eligible shareholders must have bought the stock before 01 August 2024. Payment date: 30 August 2024. Payout ratio is a comfortable 19% and this is well supported by cash flows. Trailing yield: 0.6%. Lower than top quartile of Taiwanese dividend payers (4.3%). Lower than average of industry peers (2.7%). Declared Dividend • Jun 27
Dividend reduced to NT$0.32 Dividend of NT$0.32 is 83% lower than last year. Ex-date: 1st August 2024 Payment date: 30th August 2024 Dividend yield will be 0.6%, which is lower than the industry average of 4.0%. Payout Ratios Payout ratio: 21%. Cash payout ratio: 2%. Aankondiging • Jun 26
Speed Tech Corp. Announces Cash Dividend, Payable on August 30, 2024 Speed Tech Corp. announced cash dividends of TWD 0.32 per share, total amount is TWD 55,137,376. Ex-rights (Ex-dividend) date is August 1, 2024. Ex-rights (Ex-dividend) record date is August 9, 2024. Payment date of cash dividend distribution is August 30, 2024. Date of the resolution by the board of directors or shareholders meeting, or of the decision by the company: June 25, 2024. Reported Earnings • May 18
First quarter 2024 earnings released: EPS: NT$0.25 (vs NT$0.40 loss in 1Q 2023) First quarter 2024 results: EPS: NT$0.25 (up from NT$0.40 loss in 1Q 2023). Revenue: NT$4.17b (up 23% from 1Q 2023). Net income: NT$42.3m (up NT$111.2m from 1Q 2023). Profit margin: 1.0% (up from net loss in 1Q 2023). The move to profitability was driven by higher revenue. Revenue is forecast to grow 16% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Aankondiging • May 03
Speed Tech Corp. to Report Q1, 2024 Results on May 10, 2024 Speed Tech Corp. announced that they will report Q1, 2024 results on May 10, 2024 Major Estimate Revision • Apr 03
Consensus revenue estimates fall by 13% The consensus outlook for revenues in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from NT$23.1b to NT$20.0b. EPS estimate fell from NT$4.91 to NT$3.56 per share. Net income forecast to grow 243% next year vs 32% growth forecast for Electronic industry in Taiwan. Consensus price target up from NT$75.00 to NT$78.00. Share price fell 3.2% to NT$59.70 over the past week. Reported Earnings • Mar 29
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: NT$1.04 (down from NT$4.60 in FY 2022). Revenue: NT$16.7b (down 13% from FY 2022). Net income: NT$177.2m (down 77% from FY 2022). Profit margin: 1.1% (down from 4.1% in FY 2022). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 9.5%. Earnings per share (EPS) also missed analyst estimates by 43%. Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. Aankondiging • Mar 23
Speed Tech Corp., Annual General Meeting, Jun 20, 2024 Speed Tech Corp., Annual General Meeting, Jun 20, 2024. Valuation Update With 7 Day Price Move • Feb 21
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to NT$67.00, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 17x in the Electronic industry in Taiwan. Total loss to shareholders of 20% over the past three years. Reported Earnings • Nov 14
Third quarter 2023 earnings released: EPS: NT$1.30 (vs NT$2.03 in 3Q 2022) Third quarter 2023 results: EPS: NT$1.30 (down from NT$2.03 in 3Q 2022). Revenue: NT$4.77b (down 18% from 3Q 2022). Net income: NT$222.8m (down 35% from 3Q 2022). Profit margin: 4.7% (down from 5.9% in 3Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 25% p.a. on average during the next 2 years, compared to a 9.2% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has fallen by 21% per year, which means it is performing significantly worse than earnings. Major Estimate Revision • Sep 22
Consensus EPS estimates fall by 48% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from NT$19.3b to NT$18.5b. EPS estimate also fell from NT$3.52 per share to NT$1.83 per share. Net income forecast to grow 60% next year vs 5.2% growth forecast for Electronic industry in Taiwan. Consensus price target down from NT$88.00 to NT$75.00. Share price fell 3.3% to NT$53.50 over the past week. Reported Earnings • Aug 13
Second quarter 2023 earnings released: EPS: NT$0.008 (vs NT$1.19 in 2Q 2022) Second quarter 2023 results: EPS: NT$0.008 (down from NT$1.19 in 2Q 2022). Revenue: NT$4.25b (down 8.1% from 2Q 2022). Net income: NT$1.28m (down 99% from 2Q 2022). Profit margin: 0% (down from 4.3% in 2Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 17% p.a. on average during the next 2 years, compared to a 8.1% growth forecast for the Electronic 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 fallen by 20% per year, which means it is performing significantly worse than earnings. Upcoming Dividend • Jul 18
Upcoming dividend of NT$1.84 per share at 3.3% yield Eligible shareholders must have bought the stock before 25 July 2023. Payment date: 18 August 2023. Payout ratio is a comfortable 56% but the company is not cash flow positive. Trailing yield: 3.3%. Lower than top quartile of Taiwanese dividend payers (5.4%). Lower than average of industry peers (4.1%). Valuation Update With 7 Day Price Move • Jul 12
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$64.50, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 15x in the Electronic industry in Taiwan. Total loss to shareholders of 14% over the past three years. Aankondiging • Jun 27
Speed Tech Corp. Announces Cash Dividend, Payable on August 18, 2023 Speed Tech Corp. announced cash dividends of TWD 1.84 per share, total amount is TWD 314,364,920. Ex-rights (Ex-dividend) date is July 25, 2023. Ex-rights (Ex-dividend) record date is July 31, 2023. Payment date of cash dividend distribution is August 18, 2023. Major Estimate Revision • May 25
Consensus revenue estimates fall by 16% The consensus outlook for revenues in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from NT$22.9b to NT$19.3b. EPS estimate fell from NT$6.92 to NT$3.52 per share. Net income forecast to grow 26% next year vs 7.9% decline forecast for Electronic industry in Taiwan. Consensus price target down from NT$100.00 to NT$88.00. Share price was steady at NT$50.90 over the past week. Aankondiging • May 11
Speed Tech Corp. Appoints Hung-Sheng, Lin as Corporate Governance Officer Speed Tech Corp. announced the appointment of corporate governance officer. Name, title, and resume of the new position holder: Hung-Sheng, Lin, the Company's principal financial and accounting officer. Effective date: May 10, 2023. Buying Opportunity • Apr 18
Now 21% undervalued Over the last 90 days, the stock is up 14%. The fair value is estimated to be NT$73.40, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years. Earnings per share has grown by 21%. Revenue is forecast to grow by 33% in 2 years. Earnings is forecast to grow by 86% in the next 2 years. Buying Opportunity • Mar 27
Now 21% undervalued Over the last 90 days, the stock is up 11%. The fair value is estimated to be NT$71.31, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 23% over the last 3 years. Earnings per share has grown by 29%. Revenue is forecast to grow by 19% in 2 years. Earnings is forecast to grow by 49% in the next 2 years. Buying Opportunity • Feb 24
Now 23% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be NT$72.16, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 23% over the last 3 years. Earnings per share has grown by 29%. Revenue is forecast to grow by 19% in 2 years. Earnings is forecast to grow by 49% in the next 2 years. Reported Earnings • Nov 18
Third quarter 2022 earnings released: EPS: NT$2.03 (vs NT$1.80 in 3Q 2021) Third quarter 2022 results: EPS: NT$2.03 (up from NT$1.80 in 3Q 2021). Revenue: NT$5.83b (up 6.4% from 3Q 2021). Net income: NT$344.8m (up 14% from 3Q 2021). Profit margin: 5.9% (up from 5.5% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 7.1% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Price Target Changed • Nov 16
Price target decreased to NT$100.00 Down from NT$161, the current price target is provided by 1 analyst. New target price is 79% above last closing price of NT$55.80. Stock is down 32% over the past year. The company is forecast to post earnings per share of NT$5.92 for next year compared to NT$5.11 last year. Aankondiging • Nov 15
Speed Tech Corp. Announces Resignation of Chao-Jen Huang as Institutional Director Speed Tech Corp. announced resignation of Chao-Jen Huang as institutional director. Resume of the previous position holder: General counsel of LUXSHARE-ICT CO., LTD. Buying Opportunity • Oct 31
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 2.0%. The fair value is estimated to be NT$64.30, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 27% over the last 3 years. Earnings per share has grown by 34%. Revenue is forecast to grow by 7.8% in a year. Earnings is forecast to grow by 22% in the next year. Valuation Update With 7 Day Price Move • Oct 28
Investor sentiment improved over the past week After last week's 17% share price gain to NT$51.70, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 8x in the Electronic industry in Taiwan. Total loss to shareholders of 20% over the past three years. Buying Opportunity • Sep 23
Now 22% undervalued Over the last 90 days, the stock is up 6.0%. The fair value is estimated to be NT$74.10, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 27% over the last 3 years. Earnings per share has grown by 34%. Revenue is forecast to grow by 7.8% in a year. Earnings is forecast to grow by 22% in the next year. Valuation Update With 7 Day Price Move • Sep 15
Investor sentiment improved over the past week After last week's 21% share price gain to NT$65.80, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 9x in the Electronic industry in Taiwan. Total returns to shareholders of 1.8% over the past three years. Buying Opportunity • Sep 01
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 7.4%. The fair value is estimated to be NT$72.46, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 27% over the last 3 years. Earnings per share has grown by 34%. Revenue is forecast to grow by 7.8% in a year. Earnings is forecast to grow by 22% in the next year. Reported Earnings • Aug 16
Second quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2022 results: EPS: NT$1.19 (up from NT$1.02 in 2Q 2021). Revenue: NT$4.63b (up 34% from 2Q 2021). Net income: NT$201.2m (up 17% from 2Q 2021). Profit margin: 4.3% (down from 5.0% in 2Q 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 2.9%. Earnings per share (EPS) missed analyst estimates by 4.4%. Over the next year, revenue is forecast to grow 7.8%, compared to a 7.7% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Board Change • Jul 31
High number of new directors Supervisor Jung-Hui Shih was the last director to join the board, commencing their role in 2021. Upcoming Dividend • Jul 28
Upcoming dividend of NT$2.50 per share Eligible shareholders must have bought the stock before 04 August 2022. Payment date: 30 August 2022. Payout ratio is a comfortable 49% but the company is not cash flow positive. Trailing yield: 4.5%. Lower than top quartile of Taiwanese dividend payers (6.7%). In line with average of industry peers (4.6%). Aankondiging • Jun 25
Speed Tech Corp. Announces Establishment of the Audit Committee of the Company Speed Tech Corp. announced the establishment of the audit committee of the company, by appointing Ho-Bo Chan, Ding-Jun Zhong, Chun-Yi, Lin to the audit committee, Effective from June 24, 2022. Aankondiging • Jun 18
An unknown buyer has announced to acquire Dongguan Leader Precision Industry Co., Ltd from Speed Tech Corp. (TPEX:5457) for CNY 25.243 million. An unknown buyer has announced to acquire Dongguan Leader Precision Industry Co., Ltd from Speed Tech Corp. (TPEX:5457) for CNY 25.243 million on June 16, 2022. Valuation Update With 7 Day Price Move • May 31
Investor sentiment improved over the past week After last week's 16% share price gain to NT$61.80, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 11x in the Electronic industry in Taiwan. Total returns to shareholders of 1.7% over the past three years. Reported Earnings • May 18
First quarter 2022 earnings: EPS and revenues miss analyst expectations First quarter 2022 results: EPS: NT$0.91 (down from NT$0.94 in 1Q 2021). Revenue: NT$4.33b (up 23% from 1Q 2021). Net income: NT$153.9m (down 2.5% from 1Q 2021). Profit margin: 3.6% (down from 4.5% in 1Q 2021). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 1.1%. Earnings per share (EPS) also missed analyst estimates by 5.5%. Over the next year, revenue is forecast to grow 11%, compared to a 9.9% growth forecast for the industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Price Target Changed • Apr 27
Price target decreased to NT$100.00 Down from NT$161, the current price target is provided by 1 analyst. New target price is 86% above last closing price of NT$53.70. Stock is down 33% over the past year. The company is forecast to post earnings per share of NT$5.65 for next year compared to NT$5.11 last year. Board Change • Apr 27
Less than half of directors are independent There are 6 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 6 new directors. 2 experienced directors. 2 highly experienced directors. 2 independent directors (5 non-independent directors). Director Yi-Ling Yeh is the most experienced director on the board, commencing their role in 2013. Independent Director He-Bo Chan was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Reported Earnings • Mar 31
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: EPS: NT$5.11 (up from NT$4.19 in FY 2020). Revenue: NT$18.6b (up 25% from FY 2020). Net income: NT$861.6m (up 22% from FY 2020). Profit margin: 4.6% (down from 4.8% in FY 2020). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 1.1%. Earnings per share (EPS) also missed analyst estimates by 5.5%. Over the next year, revenue is forecast to grow 12%, compared to a 11% growth forecast for the industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Major Estimate Revision • Mar 16
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 revenue forecast increased from NT$18.0b to NT$18.8b. EPS estimate fell from NT$5.66 to NT$5.09 per share. Net income forecast to grow 9.0% next year vs 18% growth forecast for Electronic industry in Taiwan. Consensus price target down from NT$161 to NT$100.00. Share price was steady at NT$56.10 over the past week. Buying Opportunity • Mar 08
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 27%. The fair value is estimated to be NT$70.31, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 40% per annum over the last 3 years. Earnings per share has grown by 52% per annum over the last 3 years. Reported Earnings • Nov 15
Third quarter 2021 earnings released: EPS NT$1.80 (vs NT$1.11 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$5.48b (up 35% from 3Q 2020). Net income: NT$303.6m (up 62% from 3Q 2020). Profit margin: 5.5% (up from 4.6% 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 52% per year but the company’s share price has only increased by 24% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Oct 01
Investor sentiment deteriorated over the past week After last week's 16% share price decline to NT$75.70, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 12x in the Electronic industry in Taiwan. Total returns to shareholders of 66% over the past three years. Valuation Update With 7 Day Price Move • Sep 14
Investor sentiment improved over the past week After last week's 15% share price gain to NT$90.10, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 12x in the Electronic industry in Taiwan. Total returns to shareholders of 78% over the past three years. Major Estimate Revision • Aug 20
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 revenue forecast fell from NT$19.1b to NT$17.2b. EPS estimate unchanged at NT$5.63 per share. Net income forecast to grow 67% next year vs 25% growth forecast for Electronic industry in Taiwan. Consensus price target of NT$161 unchanged from last update. Share price rose 2.4% to NT$75.40 over the past week. Upcoming Dividend • Aug 19
Upcoming dividend of NT$2.10 per share Eligible shareholders must have bought the stock before 26 August 2021. Payment date: 15 September 2021. Trailing yield: 2.7%. Lower than top quartile of Taiwanese dividend payers (5.2%). Lower than average of industry peers (3.2%). Reported Earnings • Aug 18
Second quarter 2021 earnings released: EPS NT$1.02 (vs NT$0.94 in 2Q 2020) The company reported a decent second quarter result with improved earnings and profit margins, although revenues were flat. Second quarter 2021 results: Revenue: NT$3.47b (flat on 2Q 2020). Net income: NT$172.1m (up 9.3% from 2Q 2020). Profit margin: 5.0% (up from 4.5% in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 60% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jul 12
Investor sentiment improved over the past week After last week's 18% share price gain to NT$95.20, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 14x in the Electronic industry in Taiwan. Total returns to shareholders of 58% over the past three years. Valuation Update With 7 Day Price Move • Jun 25
Investor sentiment improved over the past week After last week's 16% share price gain to NT$81.60, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 13x in the Electronic industry in Taiwan. Total returns to shareholders of 46% over the past three years. Executive Departure • May 25
Supervisor has left the company On the 13th of May, Chiu-Tan Lin's tenure as Supervisor ended after 7.9 years in the role. We don't have any record of a personal shareholding under Chiu-Tan's name. Chiu-Tan is the only executive to leave the company over the last 12 months. Reported Earnings • May 15
First quarter 2021 earnings released: EPS NT$0.94 (vs NT$0.85 in 1Q 2020) The company reported a solid first quarter result with improved earnings and revenues, although profit margins were weaker. First quarter 2021 results: Revenue: NT$3.52b (up 17% from 1Q 2020). Net income: NT$157.9m (up 11% from 1Q 2020). Profit margin: 4.5% (down from 4.7% in 1Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 70% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • May 13
Investor sentiment deteriorated over the past week After last week's 16% share price decline to NT$57.00, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 11x in the Electronic industry in Taiwan. Total returns to shareholders of 22% over the past three years. Reported Earnings • Apr 01
Full year 2020 earnings released: EPS NT$4.19 (vs NT$2.19 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$14.8b (up 32% from FY 2019). Net income: NT$704.0m (up 92% from FY 2019). Profit margin: 4.8% (up from 3.3% 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 76% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Feb 01
Investor sentiment deteriorated over the past week After last week's 15% share price decline to NT$78.30, the stock is trading at a trailing P/E ratio of 21.1x, down from the previous P/E ratio of 24.8x. This compares to an average P/E of 18x in the Electronic industry in Taiwan. Total returns to shareholders over the past three years are 61%. Is New 90 Day High Low • Jan 29
New 90-day low: NT$87.00 The company is down 9.0% from its price of NT$96.00 on 30 October 2020. The Taiwanese market is up 22% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 30% over the same period. Reported Earnings • Nov 15
Third quarter 2020 earnings released: EPS NT$1.11 The company reported a solid third quarter result with improved earnings and revenues, although profit margins were weaker. Third quarter 2020 results: Revenue: NT$4.06b (up 20% from 3Q 2019). Net income: NT$187.0m (up 9.2% from 3Q 2019). Profit margin: 4.6% (down from 5.1% in 3Q 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 82% per year but the company’s share price has only increased by 26% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Nov 09
Market bids up stock over the past week After last week's 15% share price gain to NT$106, the stock is trading at a trailing P/E ratio of 29.1x, up from the previous P/E ratio of 25.2x. This compares to an average P/E of 17x in the Electronic industry in Taiwan. Total returns to shareholders over the past three years are 110%. Is New 90 Day High Low • Nov 02
New 90-day low: NT$91.40 The company is down 11% from its price of NT$103 on 04 August 2020. The Taiwanese market is flat over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is down 4.0% over the same period.