Buy Or Sell Opportunity • May 14
Now 21% undervalued Over the last 90 days, the stock has risen 15% to NT$1,780. The fair value is estimated to be NT$2,256, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 39% over the last 3 years. Earnings per share has grown by 51%. Revenue is forecast to grow by 91% in 2 years. Earnings are forecast to grow by 160% in the next 2 years. Reported Earnings • May 09
First quarter 2026 earnings: EPS and revenues exceed analyst expectations First quarter 2026 results: EPS: NT$13.00 (up from NT$5.20 in 1Q 2025). Revenue: NT$4.18b (up 86% from 1Q 2025). Net income: NT$917.3m (up 157% from 1Q 2025). Profit margin: 22% (up from 16% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 6.5%. Earnings per share (EPS) also surpassed analyst estimates by 10%. Revenue is forecast to grow 29% p.a. on average during the next 3 years, compared to a 23% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 51% per year but the company’s share price has increased by 108% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Mar 13
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: EPS: NT$31.00 (up from NT$17.90 in FY 2024). Revenue: NT$12.4b (up 52% from FY 2024). Net income: NT$2.13b (up 73% from FY 2024). Profit margin: 17% (up from 15% in FY 2024). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 1.7%. Revenue is forecast to grow 29% p.a. on average during the next 3 years, compared to a 19% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has increased by 123% per year, which means it is tracking significantly ahead of earnings growth. Aankondiging • Mar 06
Fositek Corp., Annual General Meeting, May 26, 2026 Fositek Corp., Annual General Meeting, May 26, 2026. Location: 3 floor no,9, wu kung 6th rd., wugu district, new taipei city Taiwan Valuation Update With 7 Day Price Move • Mar 02
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$1,710, the stock trades at a forward P/E ratio of 33x. Average forward P/E is 19x in the Electronic industry in Taiwan. Total returns to shareholders of 980% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$2,887 per share. Valuation Update With 7 Day Price Move • Jan 28
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$1,490, the stock trades at a forward P/E ratio of 29x. Average forward P/E is 18x in the Electronic industry in Taiwan. Total returns to shareholders of 681% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$2,733 per share. Valuation Update With 7 Day Price Move • Jan 08
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to NT$1,365, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 17x in the Electronic industry in Taiwan. Total returns to shareholders of 601% over the past three years. 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$1,570, the stock trades at a forward P/E ratio of 32x. Average forward P/E is 17x in the Electronic industry in Taiwan. Total returns to shareholders of 729% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$2,488 per share. New Risk • Nov 15
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 8.6% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. This is currently the only risk that has been identified for the company. Reported Earnings • Nov 07
Third quarter 2025 earnings released: EPS: NT$10.02 (vs NT$4.87 in 3Q 2024) Third quarter 2025 results: EPS: NT$10.02 (up from NT$4.87 in 3Q 2024). Revenue: NT$3.57b (up 79% from 3Q 2024). Net income: NT$687.0m (up 106% from 3Q 2024). Profit margin: 19% (up from 17% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 37% 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 40% per year but the company’s share price has increased by 106% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Oct 27
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$1,400, the stock trades at a forward P/E ratio of 34x. Average forward P/E is 17x in the Electronic industry in Taiwan. Total returns to shareholders of 860% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$2,045 per share. Valuation Update With 7 Day Price Move • Oct 09
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$1,180, the stock trades at a forward P/E ratio of 31x. Average forward P/E is 16x in the Electronic industry in Taiwan. Total returns to shareholders of 819% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$1,837 per share. Valuation Update With 7 Day Price Move • Aug 27
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$1,155, the stock trades at a forward P/E ratio of 30x. Average forward P/E is 17x in the Electronic industry in Taiwan. Total returns to shareholders of 593% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$1,886 per share. Reported Earnings • Aug 11
Second quarter 2025 earnings: EPS exceeds analyst expectations while revenues lag behind Second quarter 2025 results: EPS: NT$4.82 (up from NT$3.74 in 2Q 2024). Revenue: NT$2.62b (up 52% from 2Q 2024). Net income: NT$330.3m (up 29% from 2Q 2024). Profit margin: 13% (down from 15% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 2.6%. Earnings per share (EPS) exceeded analyst estimates by 16%. Revenue is forecast to grow 32% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has increased by 77% per year, which means it is tracking significantly ahead of earnings growth. Declared Dividend • Jul 30
Dividend increased to NT$8.00 Dividend of NT$8.00 is 45% higher than last year. Ex-date: 13th August 2025 Payment date: 9th September 2025 Dividend yield will be 0.9%, which is lower than the industry average of 4.0%. Payout Ratios Payout ratio: 40%. Cash payout ratio: 113%. Valuation Update With 7 Day Price Move • Jun 10
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$693, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 15x in the Electronic industry in Taiwan. Total returns to shareholders of 276% over the past three years. Valuation Update With 7 Day Price Move • May 16
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$585, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 14x in the Electronic industry in Taiwan. Total returns to shareholders of 228% over the past three years. Reported Earnings • May 13
First quarter 2025 earnings: EPS and revenues exceed analyst expectations First quarter 2025 results: EPS: NT$5.20 (up from NT$3.27 in 1Q 2024). Revenue: NT$2.25b (up 32% from 1Q 2024). Net income: NT$356.5m (up 59% from 1Q 2024). Profit margin: 16% (up from 13% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 3.4%. Earnings per share (EPS) also surpassed analyst estimates by 13%. Revenue is forecast to grow 27% 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 29% per year but the company’s share price has increased by 42% per year, which means it is tracking significantly ahead of earnings growth. Aankondiging • Apr 29
Fositek Corp. to Report Q1, 2025 Results on May 06, 2025 Fositek Corp. announced that they will report Q1, 2025 results on May 06, 2025 Valuation Update With 7 Day Price Move • Apr 21
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to NT$376, 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 98% over the past three years. Valuation Update With 7 Day Price Move • Mar 31
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to NT$581, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 14x in the Electronic industry in Taiwan. Total returns to shareholders of 100% over the past three years. Major Estimate Revision • Mar 19
Consensus revenue estimates increase by 17% The consensus outlook for revenues in fiscal year 2025 has improved. 2025 revenue forecast increased from NT$13.5b to NT$15.8b. EPS estimate increased from NT$33.73 to NT$36.47 per share. Net income forecast to grow 104% next year vs 21% growth forecast for Electronic industry in Taiwan. Consensus price target down from NT$1,037 to NT$1,009. Share price fell 8.5% to NT$719 over the past week. Reported Earnings • Mar 15
Full year 2024 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2024 results: EPS: NT$17.90 (up from NT$10.19 in FY 2023). Revenue: NT$8.19b (up 45% from FY 2023). Net income: NT$1.23b (up 96% from FY 2023). Profit margin: 15% (up from 11% in FY 2023). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 1.7%. Earnings per share (EPS) exceeded analyst estimates by 1.1%. Revenue is forecast to grow 36% 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 increased by 22% per year but the company’s share price has increased by 38% per year, which means it is tracking significantly ahead of earnings growth. Aankondiging • Mar 04
Fositek Corp., Annual General Meeting, May 27, 2025 Fositek Corp., Annual General Meeting, May 27, 2025. Location: 3 floor no,9, wu kung 6th rd., wugu district, new taipei city Taiwan Aankondiging • Feb 22
Fositek Corp. to Report Fiscal Year 2024 Results on Mar 03, 2025 Fositek Corp. announced that they will report fiscal year 2024 results on Mar 03, 2025 New Risk • Feb 01
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 7.8% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Jan 15
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to NT$645, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 15x in the Electronic industry in Taiwan. Total returns to shareholders of 130% over the past three years. Valuation Update With 7 Day Price Move • Dec 18
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to NT$885, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 16x in the Electronic industry in Taiwan. Total returns to shareholders of 239% over the past three years. Valuation Update With 7 Day Price Move • Dec 03
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$996, the stock trades at a forward P/E ratio of 31x. Average forward P/E is 15x in the Electronic industry in Taiwan. Total returns to shareholders of 268% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$931 per share. Buy Or Sell Opportunity • Nov 15
Now 20% undervalued The stock has been flat over the last 90 days, currently trading at NT$785. The fair value is estimated to be NT$982, 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 15%. Revenue is forecast to grow by 160% in 2 years. Earnings are forecast to grow by 211% in the next 2 years. Reported Earnings • Nov 12
Third quarter 2024 earnings: EPS exceeds analyst expectations Third quarter 2024 results: EPS: NT$4.87 (up from NT$3.27 in 3Q 2023). Revenue: NT$1.99b (up 27% from 3Q 2023). Net income: NT$334.2m (up 69% from 3Q 2023). Profit margin: 17% (up from 13% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 3.5%. Revenue is forecast to grow 46% 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 15% per year but the company’s share price has increased by 49% per year, which means it is tracking significantly ahead of earnings growth. Aankondiging • Oct 29
Fositek Corp. to Report Q3, 2024 Results on Nov 05, 2024 Fositek Corp. announced that they will report Q3, 2024 results on Nov 05, 2024 Valuation Update With 7 Day Price Move • Sep 13
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$788, the stock trades at a forward P/E ratio of 30x. Average forward P/E is 15x in the Electronic industry in Taiwan. Total returns to shareholders of 361% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$844 per share. Reported Earnings • Aug 11
Second quarter 2024 earnings: EPS exceeds analyst expectations while revenues lag behind Second quarter 2024 results: EPS: NT$3.74 (up from NT$2.95 in 2Q 2023). Revenue: NT$1.72b (up 22% from 2Q 2023). Net income: NT$256.3m (up 44% from 2Q 2023). Profit margin: 15% (up from 13% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 3.9%. Earnings per share (EPS) exceeded analyst estimates by 31%. Revenue is forecast to grow 42% 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 12% per year but the company’s share price has increased by 45% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Aug 07
Upcoming dividend of NT$5.50 per share Eligible shareholders must have bought the stock before 14 August 2024. Payment date: 12 September 2024. Payout ratio is a comfortable 45% and this is well supported by cash flows. Trailing yield: 0.8%. Lower than top quartile of Taiwanese dividend payers (4.7%). Lower than average of industry peers (3.1%). Buy Or Sell Opportunity • Aug 05
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 6.7% to NT$670. The fair value is estimated to be NT$858, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 11%. Revenue is forecast to grow by 158% in 2 years. Earnings are forecast to grow by 243% in the next 2 years. Aankondiging • Aug 01
Fositek Corp. to Report Q2, 2024 Results on Aug 08, 2024 Fositek Corp. announced that they will report Q2, 2024 results on Aug 08, 2024 Aankondiging • Jul 27
Fositek Corp. Announces Cash Dividend, Payable on 12 September 2024 Fositek Corp. announced cash dividend of TWD 377,046,428, cash dividend distribution of TWD 5.5 per share. Ex-rights (ex-dividend) trading date: 14 August 2024. Ex-rights (ex-dividend) record date: 20 August 2024. Payment date of common stock cash dividend distribution: 12 September 2024. Buy Or Sell Opportunity • Jul 05
Now 8.2% overvalued after recent price rise Over the last 90 days, the stock has risen 8.1% to NT$784. The fair value is estimated to be NT$724, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 11%. Revenue is forecast to grow by 165% in 2 years. Earnings are forecast to grow by 245% in the next 2 years. Buy Or Sell Opportunity • Jul 05
Now 7.8% overvalued after recent price rise Over the last 90 days, the stock has risen 7.7% to NT$781. The fair value is estimated to be NT$724, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 11%. Revenue is forecast to grow by 165% in 2 years. Earnings are forecast to grow by 245% in the next 2 years. Buy Or Sell Opportunity • Jul 03
Now 24% undervalued Over the last 90 days, the stock has risen 4.1% to NT$755. The fair value is estimated to be NT$996, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 11%. Revenue is forecast to grow by 193% in 2 years. Earnings are forecast to grow by 287% in the next 2 years. Buy Or Sell Opportunity • Jul 02
Now 24% undervalued Over the last 90 days, the stock has risen 3.9% to NT$753. The fair value is estimated to be NT$997, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 11%. Revenue is forecast to grow by 193% in 2 years. Earnings are forecast to grow by 287% in the next 2 years. Buy Or Sell Opportunity • Jul 01
Now 24% undervalued Over the last 90 days, the stock has risen 5.0% to NT$757. The fair value is estimated to be NT$997, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 11%. Revenue is forecast to grow by 193% in 2 years. Earnings are forecast to grow by 287% in the next 2 years. Buy Or Sell Opportunity • Jun 27
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 5.3% to NT$751. The fair value is estimated to be NT$944, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 11%. Revenue is forecast to grow by 188% in 2 years. Earnings are forecast to grow by 279% in the next 2 years. Valuation Update With 7 Day Price Move • Jun 12
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to NT$795, the stock trades at a forward P/E ratio of 29x. Average forward P/E is 16x in the Electronic industry in Taiwan. Total returns to shareholders of 329% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$953 per share. Buy Or Sell Opportunity • May 29
Now 21% undervalued Over the last 90 days, the stock has risen 7.1% to NT$738. The fair value is estimated to be NT$929, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 11%. Revenue is forecast to grow by 188% in 2 years. Earnings are forecast to grow by 279% in the next 2 years. Valuation Update With 7 Day Price Move • May 28
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$774, the stock trades at a forward P/E ratio of 28x. Average forward P/E is 16x in the Electronic industry in Taiwan. Total returns to shareholders of 262% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$929 per share. Reported Earnings • May 15
First quarter 2024 earnings: EPS exceeds analyst expectations while revenues lag behind First quarter 2024 results: EPS: NT$3.27 (up from NT$1.26 in 1Q 2023). Revenue: NT$1.71b (up 93% from 1Q 2023). Net income: NT$224.0m (up 194% from 1Q 2023). Profit margin: 13% (up from 8.6% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 9.0%. Earnings per share (EPS) exceeded analyst estimates by 1.7%. Revenue is forecast to grow 57% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 54% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • May 10
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to NT$655, the stock trades at a forward P/E ratio of 30x. Average forward P/E is 16x in the Electronic industry in Taiwan. Total returns to shareholders of 282% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$673 per share. Aankondiging • Apr 28
Fositek Corp. to Report Q1, 2024 Results on May 06, 2024 Fositek Corp. announced that they will report Q1, 2024 results on May 06, 2024 Major Estimate Revision • Apr 17
Consensus EPS estimates fall by 18% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from NT$11.5b to NT$11.3b. EPS estimate also fell from NT$26.56 per share to NT$21.87 per share. Net income forecast to grow 139% next year vs 31% growth forecast for Electronic industry in Taiwan. Consensus price target broadly unchanged at NT$1,112. Share price was steady at NT$756 over the past week. Buy Or Sell Opportunity • Apr 08
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 70% to NT$741. The fair value is estimated to be NT$614, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Earnings per share has grown by 13%. Revenue is forecast to grow by 222% in 2 years. Earnings are forecast to grow by 383% in the next 2 years. Reported Earnings • Mar 16
Full year 2023 earnings: Revenues and EPS in line with analyst expectations Full year 2023 results: EPS: NT$10.18 (up from NT$9.33 in FY 2022). Revenue: NT$5.64b (up 13% from FY 2022). Net income: NT$628.0m (up 11% from FY 2022). Profit margin: 11% (in line with FY 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 58% p.a. on average during the next 2 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 13% per year but the company’s share price has increased by 80% per year, which means it is tracking significantly ahead of earnings growth. Aankondiging • Mar 08
Fositek Corp., Annual General Meeting, May 31, 2024 Fositek Corp., Annual General Meeting, May 31, 2024. Location: 3F,No. 9, Wugong 6th Rd., New Taipei City Taiwan Agenda: To consider business report of 2023; to consider audit Committee's Review Report of 2023; to consider 2023 employee profit sharing bonuses and director remuneration allocation; to consider distribution of cash dividends from profits in 2023; and to transact other business. Aankondiging • Mar 07
Fositek Corp. Announces Resignation of Shen,Min-Hsun, Director Fositek Corp. announced resignation of Shen,Min-Hsun, Director. Resume of the previous position holder: the General manager of Fositek. Date of occurrence of the change is March 06, 2024. Valuation Update With 7 Day Price Move • Feb 01
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$580, the stock trades at a trailing P/E ratio of 66x. Average forward P/E is 16x in the Electronic industry in Taiwan. Total returns to shareholders of 535% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$883 per share. Valuation Update With 7 Day Price Move • Jan 09
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$437, the stock trades at a trailing P/E ratio of 49.7x. Average forward P/E is 16x in the Electronic industry in Taiwan. Total returns to shareholders of 490% over the past three years. New Risk • Dec 23
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 13% 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: Major Risk Share price has been highly volatile over the past 3 months (8.3% average weekly change). Minor Risk Shareholders have been diluted in the past year (13% increase in shares outstanding). Reported Earnings • Nov 14
Third quarter 2023 earnings released: EPS: NT$3.27 (vs NT$2.24 in 3Q 2022) Third quarter 2023 results: EPS: NT$3.27 (up from NT$2.24 in 3Q 2022). Revenue: NT$1.56b (up 36% from 3Q 2022). Net income: NT$197.8m (up 46% from 3Q 2022). Profit margin: 13% (in line with 3Q 2022). Revenue is forecast to grow 51% p.a. on average during the next 3 years, compared to a 9.2% growth forecast for the Electronic industry in Taiwan. Valuation Update With 7 Day Price Move • Nov 09
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$330, the stock trades at a trailing P/E ratio of 38x. Average trailing P/E is 19x in the Electronic industry in Taiwan. Total returns to shareholders of 117% over the past year. Valuation Update With 7 Day Price Move • Sep 14
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to NT$241, the stock trades at a trailing P/E ratio of 27.7x. Average trailing P/E is 19x in the Electronic industry in Taiwan. Total returns to shareholders of 51% over the past year. Reported Earnings • Aug 10
Second quarter 2023 earnings released: EPS: NT$2.95 (vs NT$2.11 in 2Q 2022) Second quarter 2023 results: EPS: NT$2.95 (up from NT$2.11 in 2Q 2022). Revenue: NT$1.42b (up 21% from 2Q 2022). Net income: NT$178.3m (up 40% from 2Q 2022). Profit margin: 13% (up from 11% in 2Q 2022). The increase in margin was driven by higher revenue. New Risk • Aug 01
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: 2.1% 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. This is currently the only risk that has been identified for the company. Upcoming Dividend • Jun 23
Upcoming dividend of NT$4.00 per share at 1.8% yield Eligible shareholders must have bought the stock before 30 June 2023. Payment date: 24 July 2023. Payout ratio is a comfortable 51% and this is well supported by cash flows. Trailing yield: 1.8%. Lower than top quartile of Taiwanese dividend payers (5.5%). Lower than average of industry peers (4.2%). Valuation Update With 7 Day Price Move • Apr 12
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$206, the stock trades at a trailing P/E ratio of 22.1x. Average trailing P/E is 14x in the Electronic industry in Taiwan. Total loss to shareholders of 11% over the past year. Reported Earnings • Mar 24
Full year 2022 earnings released: EPS: NT$9.33 (vs NT$9.29 in FY 2021) Full year 2022 results: EPS: NT$9.33 (up from NT$9.29 in FY 2021). Revenue: NT$5.01b (flat on FY 2021). Net income: NT$564.1m (up 5.8% from FY 2021). Profit margin: 11% (in line with FY 2021). Valuation Update With 7 Day Price Move • Feb 08
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to NT$155, the stock trades at a trailing P/E ratio of 18.2x. Average trailing P/E is 12x in the Electronic industry in Taiwan. Total loss to shareholders of 55% over the past year. Valuation Update With 7 Day Price Move • Dec 16
Investor sentiment improved over the past week After last week's 16% share price gain to NT$215, the stock trades at a trailing P/E ratio of 25.2x. Average trailing P/E is 11x in the Electronic industry in Taiwan. Total loss to shareholders of 21% over the past year. Valuation Update With 7 Day Price Move • Nov 28
Investor sentiment improved over the past week After last week's 16% share price gain to NT$178, the stock trades at a trailing P/E ratio of 20.8x. Average trailing P/E is 11x in the Electronic industry in Taiwan. Total loss to shareholders of 32% over the past year. Reported Earnings • Aug 11
First half 2022 earnings released: EPS: NT$4.86 (vs NT$5.75 in 1H 2021) First half 2022 results: EPS: NT$4.86 (down from NT$5.75 in 1H 2021). Revenue: NT$2.71b (up 2.9% from 1H 2021). Net income: NT$293.9m (down 5.7% from 1H 2021). Profit margin: 11% (down from 12% in 1H 2021). The decrease in margin was driven by higher expenses. Valuation Update With 7 Day Price Move • Jul 20
Investor sentiment improved over the past week After last week's 23% share price gain to NT$175, the stock trades at a trailing P/E ratio of 19.8x. Average trailing P/E is 13x in the Electronic industry in Taiwan. Total loss to shareholders of 25% over the past year. Valuation Update With 7 Day Price Move • Jul 05
Investor sentiment deteriorated over the past week After last week's 15% share price decline to NT$141, the stock trades at a trailing P/E ratio of 15.9x. Average trailing P/E is 12x in the Electronic industry in Taiwan. Total loss to shareholders of 30% over the past year. Upcoming Dividend • Jun 16
Upcoming dividend of NT$4.50 per share Eligible shareholders must have bought the stock before 23 June 2022. Payment date: 18 August 2022. Payout ratio is a comfortable 48% and this is well supported by cash flows. Trailing yield: 2.3%. Lower than top quartile of Taiwanese dividend payers (6.0%). Lower than average of industry peers (4.3%). Valuation Update With 7 Day Price Move • May 30
Investor sentiment improved over the past week After last week's 16% share price gain to NT$216, the stock trades at a trailing P/E ratio of 24.4x. Average trailing P/E is 13x in the Electronic industry in Taiwan. Total loss to shareholders of 3.6% over the past year. Valuation Update With 7 Day Price Move • Apr 11
Investor sentiment deteriorated over the past week After last week's 24% share price decline to NT$233, the stock trades at a trailing P/E ratio of 26.4x. Average trailing P/E is 16x in the Electronic industry in Taiwan. Total loss to shareholders of 9.9% over the past year. Reported Earnings • Mar 09
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: NT$9.29 (up from NT$4.67 in FY 2020). Revenue: NT$5.02b (up 126% from FY 2020). Net income: NT$533.0m (up 153% from FY 2020). Profit margin: 11% (up from 9.5% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Valuation Update With 7 Day Price Move • Jan 21
Investor sentiment improved over the past week After last week's 20% share price gain to NT$333, the stock trades at a trailing P/E ratio of 46x. Average trailing P/E is 18x in the Electronic industry in Taiwan. Total returns to shareholders of 296% over the past year. Valuation Update With 7 Day Price Move • Nov 17
Investor sentiment improved over the past week After last week's 33% share price gain to NT$294, the stock trades at a trailing P/E ratio of 40.5x. Average trailing P/E is 17x in the Electronic industry in Taiwan. Valuation Update With 7 Day Price Move • Sep 28
Investor sentiment improved over the past week After last week's 22% share price gain to NT$220, the stock trades at a trailing P/E ratio of 30.3x. Average trailing P/E is 16x in the Electronic industry in Taiwan. Valuation Update With 7 Day Price Move • Sep 07
Investor sentiment deteriorated over the past week After last week's 17% share price decline to NT$186, the stock trades at a trailing P/E ratio of 21.2x. Average trailing P/E is 16x in the Electronic industry in Taiwan. Reported Earnings • Aug 15
Second quarter 2021 earnings released: EPS NT$7.28 (vs NT$1.93 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: NT$1.57b (up 100% from 2Q 2020). Net income: NT$195.4m (up 160% from 2Q 2020). Profit margin: 12% (up from 9.5% in 2Q 2020). The increase in margin was driven by higher revenue. Reported Earnings • May 14
First quarter 2021 earnings released: EPS NT$3.05 (vs NT$1.45 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$1.06b (up 82% from 1Q 2020). Net income: NT$116.3m (up 176% from 1Q 2020). Profit margin: 11% (up from 7.2% in 1Q 2020). The increase in margin was driven by higher revenue. Valuation Update With 7 Day Price Move • May 13
Investor sentiment deteriorated over the past week After last week's 17% share price decline to NT$248, the stock trades at a trailing P/E ratio of 39.7x. Average trailing P/E is 16x in the Electronic industry in Taiwan. Valuation Update With 7 Day Price Move • Apr 24
Investor sentiment deteriorated over the past week After last week's 20% share price decline to NT$306, the stock trades at a trailing P/E ratio of 48.9x. Average trailing P/E is 20x in the Electronic industry in Taiwan. Valuation Update With 7 Day Price Move • Mar 30
Investor sentiment improved over the past week After last week's 19% share price gain to NT$239, the stock trades at a trailing P/E ratio of 38.2x. Average trailing P/E is 19x in the Electronic industry in Taiwan.