Buy Or Sell Opportunity • May 21
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 114% to NT$4,705. The fair value is estimated to be NT$3,811, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 38% over the last 3 years. Earnings per share has grown by 43%. Revenue is forecast to grow by 169% in 2 years. Earnings are forecast to grow by 256% in the next 2 years. Reported Earnings • Apr 30
First quarter 2026 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2026 results: EPS: NT$14.00 (up from NT$10.01 in 1Q 2025). Revenue: NT$33.1b (up 53% from 1Q 2025). Net income: NT$5.34b (up 54% from 1Q 2025). Profit margin: 16% (in line with 1Q 2025). Revenue exceeded analyst estimates by 2.2%. Earnings per share (EPS) missed analyst estimates by 4.7%. Revenue is forecast to grow 42% p.a. on average during the next 3 years, compared to a 21% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has increased by 203% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • Apr 30
Price target increased by 22% to NT$4,187 Up from NT$3,425, the current price target is an average from 14 analysts. New target price is 8.5% below last closing price of NT$4,575. Stock is up 723% over the past year. The company is forecast to post earnings per share of NT$83.03 for next year compared to NT$41.67 last year. Price Target Changed • Apr 27
Price target increased by 8.1% to NT$3,485 Up from NT$3,223, the current price target is an average from 14 analysts. New target price is 26% below last closing price of NT$4,730. Stock is up 749% over the past year. The company is forecast to post earnings per share of NT$75.55 for next year compared to NT$41.67 last year. Price Target Changed • Apr 18
Price target increased by 7.4% to NT$3,260 Up from NT$3,035, the current price target is an average from 14 analysts. New target price is 14% below last closing price of NT$3,800. Stock is up 628% over the past year. The company is forecast to post earnings per share of NT$74.67 for next year compared to NT$41.67 last year. 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$3,220, the stock trades at a forward P/E ratio of 44x. Average forward P/E is 19x in the Electronic industry in Taiwan. Total returns to shareholders of 1,758% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$2,052 per share. Reported Earnings • Mar 12
Full year 2025 earnings: Revenues and EPS in line with analyst expectations Full year 2025 results: EPS: NT$41.67 (up from NT$27.81 in FY 2024). Revenue: NT$94.3b (up 46% from FY 2024). Net income: NT$14.6b (up 53% from FY 2024). Profit margin: 16% (in line with FY 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 36% p.a. on average during the next 2 years, compared to a 18% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has increased by 148% per year, which means it is tracking significantly ahead of earnings growth. Aankondiging • Mar 12
Elite Material Co., Ltd., Annual General Meeting, May 27, 2026 Elite Material Co., Ltd., Annual General Meeting, May 27, 2026, at 09:00 Taipei Standard Time. Location: no,18, ta t`ung 1st rd., guanyin district, taoyuan city Taiwan Price Target Changed • Mar 10
Price target increased by 11% to NT$2,338 Up from NT$2,099, the current price target is an average from 14 analysts. New target price is approximately in line with last closing price of NT$2,365. Stock is up 320% over the past year. The company is forecast to post earnings per share of NT$41.59 for next year compared to NT$27.81 last year. Price Target Changed • Feb 23
Price target increased by 7.2% to NT$2,049 Up from NT$1,910, the current price target is an average from 14 analysts. New target price is 5.8% below last closing price of NT$2,175. Stock is up 265% over the past year. The company is forecast to post earnings per share of NT$41.85 for next year compared to NT$27.81 last year. Valuation Update With 7 Day Price Move • Jan 28
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to NT$1,900, the stock trades at a forward P/E ratio of 34x. Average forward P/E is 18x in the Electronic industry in Taiwan. Total returns to shareholders of 962% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$1,299 per share. Buy Or Sell Opportunity • Jan 14
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 46% to NT$1,660. The fair value is estimated to be NT$1,383, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 32% over the last 3 years. Earnings per share has grown by 38%. Revenue is forecast to grow by 68% in 2 years. Earnings are forecast to grow by 95% in the next 2 years. Price Target Changed • Jan 09
Price target increased by 7.7% to NT$1,788 Up from NT$1,660, the current price target is an average from 12 analysts. New target price is 14% above last closing price of NT$1,565. Stock is up 165% over the past year. The company is forecast to post earnings per share of NT$42.15 for next year compared to NT$27.81 last year. New Risk • Dec 17
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 8.3% 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 (8.3% average weekly change). High level of non-cash earnings (35% accrual ratio). Valuation Update With 7 Day Price Move • Nov 28
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$1,530, the stock trades at a forward P/E ratio of 28x. Average forward P/E is 17x in the Electronic industry in Taiwan. Total returns to shareholders of 748% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$689 per share. Price Target Changed • Nov 04
Price target increased by 10% to NT$1,430 Up from NT$1,295, the current price target is an average from 12 analysts. New target price is approximately in line with last closing price of NT$1,470. Stock is up 244% over the past year. The company is forecast to post earnings per share of NT$42.50 for next year compared to NT$27.81 last year. Reported Earnings • Nov 01
Third quarter 2025 earnings released: EPS: NT$11.19 (vs NT$7.30 in 3Q 2024) Third quarter 2025 results: EPS: NT$11.19 (up from NT$7.30 in 3Q 2024). Revenue: NT$25.1b (up 44% from 3Q 2024). Net income: NT$3.97b (up 58% from 3Q 2024). Profit margin: 16% (up from 14% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 23% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has increased by 102% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Oct 31
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to NT$1,360, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 17x in the Electronic industry in Taiwan. Total returns to shareholders of 773% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$1,135 per share. Buy Or Sell Opportunity • Oct 02
Now 25% overvalued after recent price rise Over the last 90 days, the stock has risen 40% to NT$1,295. The fair value is estimated to be NT$1,039, however this is not to be taken as a sell 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 33%. Revenue is forecast to grow by 60% in 2 years. Earnings are forecast to grow by 83% in the next 2 years. Valuation Update With 7 Day Price Move • Sep 11
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to NT$1,325, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 18x in the Electronic industry in Taiwan. Total returns to shareholders of 704% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$1,039 per share. Buy Or Sell Opportunity • Sep 10
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 46% to NT$1,250. The fair value is estimated to be NT$1,039, however this is not to be taken as a sell 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 33%. Revenue is forecast to grow by 59% in 2 years. Earnings are forecast to grow by 83% in the next 2 years. Upcoming Dividend • Aug 21
Upcoming dividend of NT$16.58 per share Eligible shareholders must have bought the stock before 28 August 2025. Payment date: 26 September 2025. Payout ratio is a comfortable 49% but the company is not cash flow positive. Trailing yield: 1.4%. Lower than top quartile of Taiwanese dividend payers (5.4%). Lower than average of industry peers (2.7%). Buy Or Sell Opportunity • Aug 15
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 87% to NT$1,280. The fair value is estimated to be NT$1,057, however this is not to be taken as a sell 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 33%. Revenue is forecast to grow by 59% in 2 years. Earnings are forecast to grow by 82% in the next 2 years. Declared Dividend • Aug 01
Dividend of NT$17.00 announced Shareholders will receive a dividend of NT$17.00. Ex-date: 28th August 2025 Payment date: 26th September 2025 Dividend yield will be 1.5%, which is lower than the industry average of 4.0%. Sustainability & Growth Dividend is covered by earnings (39% 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 21% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 102% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Jul 31
Second quarter 2025 earnings: EPS misses analyst expectations Second quarter 2025 results: EPS: NT$10.02 (up from NT$7.08 in 2Q 2024). Revenue: NT$22.5b (up 46% from 2Q 2024). Net income: NT$3.48b (up 43% from 2Q 2024). Profit margin: 16% (in line with 2Q 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 6.4%. Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Electronic industry in Taiwan. 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 90% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • Jul 31
Price target increased by 12% to NT$1,143 Up from NT$1,018, the current price target is an average from 12 analysts. New target price is approximately in line with last closing price of NT$1,105. Stock is up 163% over the past year. The company is forecast to post earnings per share of NT$44.93 for next year compared to NT$27.81 last year. Price Target Changed • Jul 03
Price target increased by 7.9% to NT$950 Up from NT$881, the current price target is an average from 12 analysts. New target price is approximately in line with last closing price of NT$928. Stock is up 88% over the past year. The company is forecast to post earnings per share of NT$43.02 for next year compared to NT$27.81 last year. Buy Or Sell Opportunity • Jun 11
Now 21% undervalued Over the last 90 days, the stock has risen 49% to NT$867. The fair value is estimated to be NT$1,103, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 22% over the last 3 years. Earnings per share has grown by 26%. Revenue is forecast to grow by 42% in 2 years. Earnings are forecast to grow by 54% in the next 2 years. Board Change • Jun 02
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 4 experienced directors. 5 highly experienced directors. Independent Director Shouzhen Cheng was the last director to join the board, commencing their role in 2024. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Buy Or Sell Opportunity • May 23
Now 21% undervalued Over the last 90 days, the stock has risen 17% to NT$706. The fair value is estimated to be NT$890, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 22% over the last 3 years. Earnings per share has grown by 26%. Revenue is forecast to grow by 38% in 2 years. Earnings are forecast to grow by 49% in the next 2 years. Valuation Update With 7 Day Price Move • May 08
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to NT$662, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 12x in the Electronic industry in Taiwan. Total returns to shareholders of 244% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$890 per share. Price Target Changed • May 05
Price target increased by 7.2% to NT$802 Up from NT$748, the current price target is an average from 12 analysts. New target price is 29% above last closing price of NT$623. Stock is up 46% over the past year. The company is forecast to post earnings per share of NT$40.99 for next year compared to NT$27.81 last year. Reported Earnings • May 03
First quarter 2025 earnings: EPS and revenues exceed analyst expectations First quarter 2025 results: EPS: NT$10.01 (up from NT$5.76 in 1Q 2024). Revenue: NT$21.7b (up 68% from 1Q 2024). Net income: NT$3.47b (up 75% from 1Q 2024). Profit margin: 16% (in line with 1Q 2024). Revenue exceeded analyst estimates by 5.6%. Earnings per share (EPS) also surpassed analyst estimates by 4.9%. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has increased by 42% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to NT$453, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 13x in the Electronic industry in Taiwan. Total returns to shareholders of 111% over the past three years. Aankondiging • Apr 01
Elite Material Co., Ltd. to Report Q1, 2025 Results on Apr 30, 2025 Elite Material Co., Ltd. announced that they will report Q1, 2025 results at 9:00 AM, Taipei Standard Time on Apr 30, 2025 Reported Earnings • Mar 02
Full year 2024 earnings: EPS in line with analyst expectations despite revenue beat Full year 2024 results: EPS: NT$27.81 (up from NT$16.35 in FY 2023). Revenue: NT$64.4b (up 56% from FY 2023). Net income: NT$9.58b (up 75% from FY 2023). Profit margin: 15% (up from 13% in FY 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.6%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has increased by 32% per year, which means it is tracking significantly ahead of earnings growth. Aankondiging • Feb 27
Elite Material Co., Ltd., Annual General Meeting, May 14, 2025 Elite Material Co., Ltd., Annual General Meeting, May 14, 2025, at 09:00 Taipei Standard Time. Location: no,18, ta t`ung 1st rd., guanyin district, taoyuan city Taiwan Major Estimate Revision • Feb 27
Consensus revenue estimates increase by 16% The consensus outlook for revenues in fiscal year 2025 has improved. 2025 revenue forecast increased from NT$73.5b to NT$85.2b. EPS estimate increased from NT$33.58 to NT$39.71 per share. Net income forecast to grow 43% next year vs 23% growth forecast for Electronic industry in Taiwan. Consensus price target up from NT$633 to NT$728. Share price rose 4.8% to NT$632 over the past week. Price Target Changed • Feb 26
Price target increased by 11% to NT$699 Up from NT$633, the current price target is an average from 13 analysts. New target price is 10% above last closing price of NT$633. Stock is up 26% over the past year. The company is forecast to post earnings per share of NT$27.75 for next year compared to NT$16.35 last year. Aankondiging • Feb 20
Elite Material Co., Ltd. to Report Fiscal Year 2024 Results on Feb 25, 2025 Elite Material Co., Ltd. announced that they will report fiscal year 2024 results on Feb 25, 2025 New Risk • Feb 03
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. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (28% accrual ratio). Minor Risks Dividend is not well covered by cash flows (dividend per share is over 6x cash flows per share). Share price has been volatile over the past 3 months (6.2% average weekly change). Reported Earnings • Nov 03
Third quarter 2024 earnings: EPS misses analyst expectations Third quarter 2024 results: EPS: NT$7.30 (up from NT$6.04 in 3Q 2023). Revenue: NT$17.5b (up 47% from 3Q 2023). Net income: NT$2.52b (up 24% from 3Q 2023). Profit margin: 14% (down from 17% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 2.9%. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has increased by 23% per year, which means it is tracking significantly ahead of earnings growth. Buy Or Sell Opportunity • Sep 24
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 2.3% to NT$462. The fair value is estimated to be NT$584, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.1% over the last 3 years. Earnings per share has grown by 10%. Revenue is forecast to grow by 33% in 2 years. Earnings are forecast to grow by 29% in the next 2 years. Buy Or Sell Opportunity • Sep 04
Now 21% undervalued Over the last 90 days, the stock has risen 5.5% to NT$467. The fair value is estimated to be NT$589, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.1% over the last 3 years. Earnings per share has grown by 10%. Revenue is forecast to grow by 33% in 2 years. Earnings are forecast to grow by 29% in the next 2 years. Upcoming Dividend • Aug 22
Upcoming dividend of NT$9.98 per share Eligible shareholders must have bought the stock before 29 August 2024. Payment date: 27 September 2024. Payout ratio is a comfortable 41% but the company is paying out more than the cash it is generating. Trailing yield: 2.3%. Lower than top quartile of Taiwanese dividend payers (4.4%). Lower than average of industry peers (2.8%). Reported Earnings • Aug 03
Second quarter 2024 earnings: EPS in line with analyst expectations despite revenue beat Second quarter 2024 results: EPS: NT$7.08 (up from NT$3.01 in 2Q 2023). Revenue: NT$15.4b (up 68% from 2Q 2023). Net income: NT$2.44b (up 144% from 2Q 2023). Profit margin: 16% (up from 11% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 4.6%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has increased by 23% per year, which means it is tracking significantly ahead of earnings growth. Aankondiging • Aug 02
Elite Material Co., Ltd. announced that it expects to receive TWD 3 billion in funding Elite Material Co., Ltd. announced a private placement to issue Zero Coupon Series 7 Unsecured Convertible Bonds for the gross proceeds of TWD 3,000,000,000 on July 31, 2024. The bonds bear zero coupon rate, matures after 5 years. The transaction has been approved by shareholders of company. Declared Dividend • Aug 02
Dividend increased to NT$10.00 Dividend of NT$10.00 is 19% higher than last year. Ex-date: 29th August 2024 Payment date: 27th September 2024 Dividend yield will be 2.4%, which is lower than the industry average of 4.0%. Sustainability & Growth Dividend is covered by earnings (48% 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 19% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 60% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Aankondiging • Aug 01
Elite Material Co., Ltd. Announces Dividend, Payable on September 27, 2024 The board of directors of Elite Material Co., Ltd. announced cash dividend of TWD 3,439,332,300 or equivalent to TWD 10 per share. Ex-rights (Ex-dividend) date: August 29, 2024. Ex-rights (Ex-dividend) record date: September 6, 2024. Payment date of cash dividend distribution: September 27, 2024. Reported Earnings • May 02
First quarter 2024 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2024 results: EPS: NT$5.76 (up from NT$1.44 in 1Q 2023). Revenue: NT$12.9b (up 75% from 1Q 2023). Net income: NT$1.98b (up 312% from 1Q 2023). Profit margin: 15% (up from 6.5% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.6%. Earnings per share (EPS) missed analyst estimates by 1.1%. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Electronic industry in Taiwan. 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 36% per year, which means it is tracking significantly ahead of earnings growth. Aankondiging • Apr 24
Elite Material Co., Ltd. to Report Q1, 2024 Results on Apr 30, 2024 Elite Material Co., Ltd. announced that they will report Q1, 2024 results on Apr 30, 2024 Valuation Update With 7 Day Price Move • Mar 13
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to NT$405, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 16x in the Electronic industry in Taiwan. Total returns to shareholders of 169% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$536 per share. Price Target Changed • Mar 13
Price target increased by 8.0% to NT$562 Up from NT$521, the current price target is an average from 12 analysts. New target price is 39% above last closing price of NT$405. Stock is up 137% over the past year. The company is forecast to post earnings per share of NT$25.54 for next year compared to NT$16.35 last year. Buy Or Sell Opportunity • Mar 12
Now 22% undervalued Over the last 90 days, the stock has risen 18% to NT$451. The fair value is estimated to be NT$580, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.2% over the last 3 years. Earnings per share has grown by 4.5%. Revenue is forecast to grow by 43% in 2 years. Earnings are forecast to grow by 84% in the next 2 years. Reported Earnings • Mar 03
Full year 2023 earnings: EPS misses analyst expectations Full year 2023 results: EPS: NT$16.35 (up from NT$15.24 in FY 2022). Revenue: NT$41.3b (up 6.8% from FY 2022). Net income: NT$5.49b (up 8.2% from FY 2022). Profit margin: 13% (in line with FY 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 1.0%. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 43% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Feb 05
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$499, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 16x in the Electronic industry in Taiwan. Total returns to shareholders of 244% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$456 per share. Aankondiging • Dec 30
Elite Material Co., Ltd. Announces Change of the Company's President Elite Material Co., Ltd. announced change of En-Xiang, Guan as President due to Job relocation. In response to the rapid growth of China operations (such as the relocation and expansion of 300 acres of land in the Zhongshan factory, the establishment of a new factory in Malaysia, etc.), therefore, assigned Mr. Guan Enxiang to be responsible for the overall management of the fore-mentioned operations. New Risk • Oct 30
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.6% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (137% cash payout ratio). Share price has been volatile over the past 3 months (6.5% average weekly change). Shareholders have been diluted in the past year (2.6% increase in shares outstanding). Reported Earnings • Oct 29
Third quarter 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2023 results: EPS: NT$6.04 (up from NT$3.93 in 3Q 2022). Revenue: NT$11.9b (up 20% from 3Q 2022). Net income: NT$2.02b (up 55% from 3Q 2022). Profit margin: 17% (up from 13% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.0%. Earnings per share (EPS) missed analyst estimates by 3.0%. Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 8.3% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 37% per year, which means it is tracking significantly ahead of earnings growth. Buying Opportunity • Oct 27
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 8.4%. The fair value is estimated to be NT$479, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 7.4%. Revenue is forecast to grow by 51% in 2 years. Earnings is forecast to grow by 112% in the next 2 years. Upcoming Dividend • Aug 17
Upcoming dividend of NT$8.41 per share at 2.3% yield Eligible shareholders must have bought the stock before 24 August 2023. Payment date: 22 September 2023. Payout ratio is a comfortable 64% but the company is paying out more than the cash it is generating. Trailing yield: 2.3%. Lower than top quartile of Taiwanese dividend payers (5.7%). Lower than average of industry peers (4.2%). New Risk • Aug 11
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 8.2% 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 (8.2% average weekly change). Minor Risk Dividend is not well covered by cash flows (113% cash payout ratio). Major Estimate Revision • Aug 02
Consensus EPS estimates increase by 13% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has improved. 2023 revenue forecast increased from NT$37.1b to NT$38.3b. EPS estimate increased from NT$13.04 to NT$14.73 per share. Net income forecast to grow 48% next year vs 3.7% decline forecast for Electronic industry in Taiwan. Consensus price target up from NT$283 to NT$425. Share price rose 13% to NT$401 over the past week. Aankondiging • Jul 27
Elite Material Co., Ltd. Announces Dividend, Payable on September 22, 2023 Elite Material Co., Ltd. announced total cash amount of TWD 2,829,805,542 or equivalent to TWD 8.5 per share. Ex-rights (ex-dividend) trading date is August 24, 2023; Ex-rights (ex-dividend) record date is September 01, 2023; Payment date of cash dividend distribution is September 22, 2023. Reported Earnings • Jul 27
Second quarter 2023 earnings released: EPS: NT$3.00 (vs NT$3.25 in 2Q 2022) Second quarter 2023 results: EPS: NT$3.00 (down from NT$3.25 in 2Q 2022). Revenue: NT$9.18b (down 8.0% from 2Q 2022). Net income: NT$1.00b (down 7.6% from 2Q 2022). Profit margin: 11% (in line with 2Q 2022). Revenue is forecast to grow 12% 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 7% 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 • Jul 24
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$357, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 16x in the Electronic industry in Taiwan. Total returns to shareholders of 138% over the past three years. Price Target Changed • Jul 05
Price target increased by 7.1% to NT$239 Up from NT$223, the current price target is an average from 9 analysts. New target price is 11% below last closing price of NT$269. Stock is up 65% over the past year. The company is forecast to post earnings per share of NT$13.09 for next year compared to NT$15.24 last year. Valuation Update With 7 Day Price Move • Jul 04
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$263, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 16x in the Electronic industry in Taiwan. Total returns to shareholders of 84% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$116 per share. Price Target Changed • Jun 14
Price target increased by 8.2% to NT$223 Up from NT$206, the current price target is an average from 8 analysts. New target price is 6.6% below last closing price of NT$239. Stock is up 6.7% over the past year. The company is forecast to post earnings per share of NT$13.12 for next year compared to NT$15.24 last year. New Risk • Jun 08
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: Minor Risks Dividend is not well covered by cash flows (169% cash payout ratio). Share price has been volatile over the past 3 months (6.0% average weekly change). Valuation Update With 7 Day Price Move • May 22
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$191, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 14x in the Electronic industry in Taiwan. Total returns to shareholders of 46% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$109 per share. Reported Earnings • May 03
First quarter 2023 earnings: EPS misses analyst expectations First quarter 2023 results: EPS: NT$1.44 (down from NT$3.98 in 1Q 2022). Revenue: NT$7.36b (down 26% from 1Q 2022). Net income: NT$479.7m (down 64% from 1Q 2022). Profit margin: 6.5% (down from 13% in 1Q 2022). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 3.5%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 12% per year whereas the company’s share price has increased by 7% per year.