Reported Earnings • May 21
First quarter 2026 earnings: EPS and revenues exceed analyst expectations First quarter 2026 results: EPS: NT$0.63 (up from NT$0.54 in 1Q 2025). Revenue: NT$20.3b (up 10% from 1Q 2025). Net income: NT$9.40b (up 17% from 1Q 2025). Profit margin: 46% (up from 43% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 3.6%. Earnings per share (EPS) also surpassed analyst estimates by 1.6%. Revenue is forecast to grow 3.2% p.a. on average during the next 3 years, compared to a 2.9% decline forecast for the Banks industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 6% per year whereas the company’s share price has increased by 5% per year. Announcement • Mar 16
Mega Financial Holding Co., Ltd., Annual General Meeting, Jun 18, 2026 Mega Financial Holding Co., Ltd., Annual General Meeting, Jun 18, 2026, at 09:00 Taipei Standard Time. Location: no,100, chi lin rd., jhongshan district, taipei city Taiwan Reported Earnings • Mar 15
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: EPS: NT$2.36 (up from NT$2.35 in FY 2024). Revenue: NT$76.7b (up 1.2% from FY 2024). Net income: NT$35.0b (flat on FY 2024). Profit margin: 46% (in line with FY 2024). Revenue exceeded analyst estimates by 3.1%. Earnings per share (EPS) also surpassed analyst estimates by 3.3%. Revenue is forecast to grow 4.4% p.a. on average during the next 3 years, while revenues in the Banks industry in Taiwan are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 11% per year whereas the company’s share price has increased by 8% per year. Reported Earnings • Nov 21
Third quarter 2025 earnings: EPS and revenues exceed analyst expectations Third quarter 2025 results: EPS: NT$0.68 (up from NT$0.60 in 3Q 2024). Revenue: NT$21.6b (up 9.5% from 3Q 2024). Net income: NT$10.1b (up 13% from 3Q 2024). Profit margin: 47% (up from 45% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.4%. Earnings per share (EPS) also surpassed analyst estimates by 7.1%. Revenue is forecast to grow 4.7% p.a. on average during the next 3 years, while revenues in the Banks industry in Taiwan are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 15% per year whereas the company’s share price has increased by 10% per year. Reported Earnings • Aug 29
Second quarter 2025 earnings: EPS and revenues exceed analyst expectations Second quarter 2025 results: EPS: NT$0.69 (up from NT$0.60 in 2Q 2024). Revenue: NT$20.0b (flat on 2Q 2024). Net income: NT$10.2b (up 14% from 2Q 2024). Profit margin: 51% (up from 45% in 2Q 2024). Revenue exceeded analyst estimates by 7.9%. Earnings per share (EPS) also surpassed analyst estimates by 23%. Revenue is forecast to grow 4.9% p.a. on average during the next 3 years, compared to a 5.0% decline forecast for the Banks industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Declared Dividend • Jul 24
Dividend of NT$1.60 announced Shareholders will receive a dividend of NT$1.60. Ex-date: 7th August 2025 Payment date: 5th September 2025 Dividend yield will be 3.7%, which is higher than the industry average of 2.7%. Sustainability & Growth Dividend is covered by earnings (76% payout ratio) and is expected to be covered in 3 years' time (68% forecast payout ratio). The dividend has increased by an average of 4.4% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 14% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • May 22
First quarter 2025 earnings released: EPS: NT$0.54 (vs NT$0.78 in 1Q 2024) First quarter 2025 results: EPS: NT$0.54 (down from NT$0.78 in 1Q 2024). Revenue: NT$18.5b (down 13% from 1Q 2024). Net income: NT$8.01b (down 30% from 1Q 2024). Profit margin: 43% (down from 54% in 1Q 2024). The decrease in margin was primarily driven by lower revenue. Revenue is forecast to grow 3.2% p.a. on average during the next 3 years, compared to a 5.0% decline forecast for the Banks industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Announcement • May 13
Mega Financial Holding Co., Ltd. announced that it expects to receive TWD 3.882 billion in funding Mega Financial Holding Co., Ltd. announced a private placement to issue 388,200,000 common shares at an issue price of TWD 10 for gross proceeds of TWD 3,882,000,000 on May 12, 2025. Transfer of shares is restricted by relevant regulations. The company has received approval from the shareholders. Announcement • Apr 23
Mega Financial Holding Co., Ltd. Announces Cash Dividend for the Year Ended December 31, 2024 Mega Financial Holding Co., Ltd. announced appropriations of earnings in cash dividends to shareholders TWD 1.6 per share for the year ended December 31, 2024. Total amount of cash distributed to shareholders: TWD 23,733,405,251. Announcement • Apr 09
Mega Financial Holding Co., Ltd. Announces President Changes Mega Financial Holding Co., Ltd. announced the change of President of the company. Name of the previous position holder: Yu-Mei Hsiao. Resume of the previous position holder: President of Mega Financial Holding Company. Name of the new position holder: Chuang-Chang Chang. Resume of the new position holder: Chairman of Securities & Futures Institute. Reason for the change: The Board of Directors resolves to appoint. Effective date of the new appointment: To be effective upon the competent authority approval. Circumstances of change: job relocation. Announcement • Apr 08
Mega Financial Holding Co., Ltd. Announces Directorate Changes, Effective April 8, 2025 Mega Financial Holding Co., Ltd. announced change in director. Name of the previous position holder: Yu-Mei Hsiao; Resume of the previous position holder: President of Mega Financial Holding Company. Name of the new position holder: Chuan-Chang Chang; Resume of the new position holder: Chairman of Securities and Futures Institute. Effective date of the new appointment: April 8, 2025. Announcement • Mar 26
Mega Financial Holding Co., Ltd., Annual General Meeting, Jun 20, 2025 Mega Financial Holding Co., Ltd., Annual General Meeting, Jun 20, 2025, at 09:00 Taipei Standard Time. Location: no,100, chi lin rd., jhongshan district, taipei city Taiwan Reported Earnings • Feb 28
Full year 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2024 results: EPS: NT$2.35 (up from NT$2.30 in FY 2023). Revenue: NT$75.8b (up 11% from FY 2023). Net income: NT$34.8b (up 4.6% from FY 2023). Profit margin: 46% (down from 49% in FY 2023). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.5%. Earnings per share (EPS) missed analyst estimates by 4.3%. Revenue is forecast to grow 2.8% p.a. on average during the next 2 years, compared to a 6.9% decline forecast for the Banks industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Announcement • Feb 26
Mega Financial Holding Co., Ltd. Announces Change of Chief Information Security Officer, Effective March 3, 2025 Mega Financial Holding Co., Ltd. announced the change of the Chief Information Security Officer. Name, title, and resume of the previous position holder: Chien-An Chen, Executive Vice President & Chief Information Security Officer
of Mega Financial Holding Company. Name, title, and resume of the new position holder: Han-Yin Ting, Executive Vice President of Mega Financial Holding Company. Effective date: March 3, 2025. Reported Earnings • Nov 28
Third quarter 2024 earnings: EPS and revenues exceed analyst expectations Third quarter 2024 results: EPS: NT$0.60 (up from NT$0.57 in 3Q 2023). Revenue: NT$19.7b (up 9.4% from 3Q 2023). Net income: NT$8.92b (up 8.0% from 3Q 2023). Profit margin: 45% (in line with 3Q 2023). Revenue exceeded analyst estimates by 11%. Earnings per share (EPS) also surpassed analyst estimates by 6.2%. Revenue is forecast to stay flat during the next 3 years compared to a 9.6% decline forecast for the Banks industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Announcement • Nov 19
Mega Financial Holding Co., Ltd. to Report Q3, 2024 Results on Nov 26, 2024 Mega Financial Holding Co., Ltd. announced that they will report Q3, 2024 results on Nov 26, 2024 Announcement • Nov 02
Mega Financial Holding Co., Ltd. Announces Board Changes Mega Financial Holding Co., Ltd. announced that name and resume of the previous position holder: Hong-Mo Wu, Former Chairman of Chunghwa PostCo., Ltd. with name and resume of the new position holder: Kwo-Tsai Wang, Chairman of Chunghwa Post Co., Ltd. Reason for the change: Reappointment. Effective date of the new appointment: November 1, 2024. The replaced person resigned on August 21, 2024. Announcement • Sep 25
Mega Financial Holding Co., Ltd. Announces Executive Changes, Effective from September 25, 2025 Mega Financial Holding Co., Ltd. announced previous position holder of Han-Yin Ting Name, title, and resume of the new position holder is Chien-An Chen Chief Information Security Officer
Reason for the change is position adjustment. Effective date is September 25, 2025. Reported Earnings • Aug 29
Second quarter 2024 earnings: EPS exceeds analyst expectations Second quarter 2024 results: EPS: NT$0.60 (up from NT$0.55 in 2Q 2023). Revenue: NT$20.0b (up 25% from 2Q 2023). Net income: NT$8.91b (up 12% from 2Q 2023). Profit margin: 45% (down from 50% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 3.0%. Revenue is forecast to grow 1.7% p.a. on average during the next 3 years, compared to a 2.2% decline forecast for the Banks industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 13% per year whereas the company’s share price has increased by 9% per year. Announcement • Aug 22
Mega Financial Holding Co., Ltd. Announces Resignation of Hong-Mo Wu as Director Mega Financial Holding Co., Ltd. announced resignation of Hong-Mo Wu as director. Name of legal person: Chunghwa Post Co., Ltd. Resume of the previous position holder: Chairman of Chunghwa Post Co., Ltd. The replaced person resigned on August 21, 2024. Announcement • Aug 21
Mega Financial Holding Co., Ltd. to Report Q2, 2024 Results on Aug 27, 2024 Mega Financial Holding Co., Ltd. announced that they will report Q2, 2024 results on Aug 27, 2024 Buy Or Sell Opportunity • Jul 29
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 8.3% to NT$43.30. The fair value is estimated to be NT$36.07, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 4.0% over the last 3 years. Earnings per share has grown by 7.3%. Revenue is forecast to grow by 8.2% in 2 years. Earnings are forecast to decline by 0.3% in the next 2 years. Declared Dividend • Jul 25
Dividend of NT$1.50 announced Shareholders will receive a dividend of NT$1.50. Ex-date: 8th August 2024 Payment date: 13th September 2024 Dividend yield will be 3.5%, which is higher than the industry average of 2.7%. Sustainability & Growth Dividend is covered by earnings (62% payout ratio) and is expected to be covered in 3 years' time (72% forecast payout ratio). The dividend has increased by an average of 3.4% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to remain steady over the next 3 years, which should provide adequate earnings cover for the dividend. Announcement • Jul 24
Mega Financial Holding Co., Ltd. Approves Cash Dividend, Payable on September 13, 2024 Mega Financial Holding Co., Ltd. approved Cash dividends of TWD 21,602,007,207. Ex-rights (ex-dividend) trading date: August 8, 2024. Ex-rights (ex-dividend) record date: August 16, 2024. Payment date of common stock cash dividend distribution: September 13, 2024. Date of the resolution by the board of directors or shareholders meeting or decision by the Company: July 23, 2024. Reported Earnings • Jun 30
First quarter 2024 earnings: EPS and revenues exceed analyst expectations First quarter 2024 results: EPS: NT$0.80 (up from NT$0.77 in 1Q 2023). Revenue: NT$21.3b (up 19% from 1Q 2023). Net income: NT$11.5b (up 6.6% from 1Q 2023). Profit margin: 54% (down from 60% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 14%. Earnings per share (EPS) also surpassed analyst estimates by 16%. Revenue is forecast to grow 2.1% p.a. on average during the next 3 years, compared to a 4.8% decline forecast for the Banks industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 7% per year whereas the company’s share price has increased by 9% per year. New Risk • Jun 19
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.02% per year for the foreseeable future. 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 expected to decline, then in most cases the share price will decline over time as well. 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. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 0.02% per year for the foreseeable future. Minor Risk Shareholders have been diluted in the past year (2.5% increase in shares outstanding). Announcement • May 22
Mega Financial Holding Co., Ltd. to Report Q1, 2024 Results on May 28, 2024 Mega Financial Holding Co., Ltd. announced that they will report Q1, 2024 results on May 28, 2024 Announcement • Apr 26
Mega Financial Holding Co., Ltd. announced that it expects to receive TWD 4.5 billion in funding from Chung Kuo Insurance Co., Ltd. Mega Financial Holding Co., Ltd. announced a private placement to issue 450,000,000 shares at an issue price of TWD 10 per share for the gross proceeds of TWD 4,500,000,000 on April 24, 2024. The transaction will include participation from returning investor Chung Kuo Insurance Co., Ltd. The transaction has been approved by the shareholders of the company. New Risk • Apr 05
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.5% 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 Earnings are forecast to decline by an average of 0.03% per year for the foreseeable future. Minor Risk Shareholders have been diluted in the past year (2.5% increase in shares outstanding). Reported Earnings • Mar 14
Full year 2023 earnings released: EPS: NT$2.37 (vs NT$1.31 in FY 2022) Full year 2023 results: EPS: NT$2.37 (up from NT$1.31 in FY 2022). Revenue: NT$68.3b (up 28% from FY 2022). Net income: NT$33.2b (up 81% from FY 2022). Profit margin: 49% (up from 35% in FY 2022). Revenue is forecast to grow 3.9% p.a. on average during the next 2 years, compared to a 1.3% decline forecast for the Banks industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 10% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Mar 14
Mega Financial Holding Co., Ltd., Annual General Meeting, Jun 21, 2024 Mega Financial Holding Co., Ltd., Annual General Meeting, Jun 21, 2024. Buy Or Sell Opportunity • Mar 12
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 2.8% to NT$40.00. The fair value is estimated to be NT$33.30, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue is forecast to grow by 14% in 2 years. Earnings are forecast to decline by 2.0% in the next 2 years. Announcement • Jan 16
Mega Financial Holding Co., Ltd. Announces Resignation of Chia-Chi Hsiao as Director, Effective January 16, 2024 Mega Financial Holding Co., Ltd. announced resignation of Chia-Chi Hsiao, Director-General, National Treasury Administration, Ministry of Finance, R.O.C. as director. The replaced person resigned on January 16, 2024. Reported Earnings • Dec 01
Third quarter 2023 earnings: Revenues and EPS in line with analyst expectations Third quarter 2023 results: EPS: NT$0.59 (up from NT$0.41 in 3Q 2022). Revenue: NT$18.0b (up 33% from 3Q 2022). Net income: NT$8.26b (up 45% from 3Q 2022). Profit margin: 46% (up from 42% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.5% p.a. on average during the next 3 years, while revenues in the Banks industry in Taiwan are expected to remain flat. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Announcement • Nov 24
Mega Financial Holding Co., Ltd. has filed a Follow-on Equity Offering in the amount of TWD 3.5 billion. Mega Financial Holding Co., Ltd. has filed a Follow-on Equity Offering in the amount of TWD 3.5 billion.
Security Name: Shares
Security Type: Common Stock
Securities Offered: 262,500,000
Price\Range: TWD 10
Security Name: Shares
Security Type: Common Stock
Securities Offered: 87,500,000
Price\Range: TWD 10
Transaction Features: Rights Offering Major Estimate Revision • Sep 07
Consensus EPS estimates increase by 16% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has improved. 2023 revenue forecast increased from NT$72.1b to NT$74.3b. EPS estimate increased from NT$2.20 to NT$2.55 per share. Net income forecast to grow 19% next year vs 9.3% growth forecast for Banks industry in Taiwan. Consensus price target up from NT$32.96 to NT$33.82. Share price was steady at NT$35.85 over the past week. Reported Earnings • Aug 31
Second quarter 2023 earnings: EPS and revenues exceed analyst expectations Second quarter 2023 results: EPS: NT$0.57 (up from NT$0.14 in 2Q 2022). Revenue: NT$15.9b (up 22% from 2Q 2022). Net income: NT$7.99b (up 318% from 2Q 2022). Profit margin: 50% (up from 15% in 2Q 2022). The increase in margin was primarily driven by lower expenses. Revenue exceeded analyst estimates by 11%. Earnings per share (EPS) also surpassed analyst estimates by 37%. Revenue is forecast to grow 8.2% p.a. on average during the next 3 years, compared to a 2.1% growth forecast for the Banks industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Upcoming Dividend • Aug 03
Upcoming dividend of NT$1.24 per share at 3.1% yield Eligible shareholders must have bought the stock before 10 August 2023. Payment date: 15 September 2023. Payout ratio is a comfortable 75% and this is well supported by cash flows. Trailing yield: 3.1%. Lower than top quartile of Taiwanese dividend payers (5.5%). Higher than average of industry peers (2.6%). Announcement • Jul 27
Mega Financial Holding Company Ltd. Declares Cash Dividend, Payable on September 15, 2023 Mega Financial Holding Company Ltd. declared cash dividend of, TWD 17,285,376,282. Ex-rights (ex-dividend) trading date is August 10, 2023; Ex-rights (ex-dividend) record date is August 18, 2023; Payment date of cash dividend distribution is September 15, 2023. Announcement • Jul 01
Mega Financial Holding Co., Ltd. Announces the Resignation of Chia-Chung Chen as Director, Effective from July 1, 2023 Mega Financial Holding Co., Ltd. announced the resignation of Chia-Chung Chen, Independent Director of Chunghwa Telecom Co., Ltd., as director, effective from July 1, 2023. Announcement • Jun 23
Mega Financial Holding Co., Ltd. Announces the Change in Director Mega Financial Holding Co., Ltd. announced the change in director. Name of the previous position holder: Kuang-Hua Hu. Resume of the previous position holder: President of Mega ICBC. Name of the new position holder: Yu-Mei Hsiao. Resume of the new position holder: President of Mega FHC. Effective date of the new appointment: June 21, 2023. Announcement • Jun 21
Mega Financial Holding Co., Ltd. Announces Executive Changes Mega Financial Holding Co., Ltd. announced the retirement of Jui-Yun Lin as corporate governance officer and chief information security officer effective June 19, 2023. Jui-Yun Lin is Executive Vice President of Mega Financial Holding Company. The company announced the appointment of Han-Yin Ting as corporate governance officer and chief information security officer effective June 19, 2023. Han-Yin Ting is Chief Secretary of the Board of Mega Financial Holding Company. Announcement • Jun 15
Mega Financial Holding Co., Ltd. Announces the Change in Director Mega Financial Holding Co., Ltd. announced the change in director. Name of the previous position holder is Chao-Shun Chang. Resume of the previous position holder is Chairman of Mega FHC & Mega ICBC. Name of the new position holder is Paul C. D. Lei. Resume of the new position holder is Chairman of Taiwan Cooperative Financial Holding Co., Ltd. & Taiwan Cooperative Bank Co., Ltd. Original term from July 20, 2023 to July 19, 2023. Effective date of the new appointment is June 16, 2023. Reported Earnings • May 27
First quarter 2023 earnings: EPS exceeds analyst expectations First quarter 2023 results: EPS: NT$0.77 (up from NT$0.43 in 1Q 2022). Revenue: NT$18.0b (up 29% from 1Q 2022). Net income: NT$10.8b (up 78% from 1Q 2022). Profit margin: 60% (up from 43% in 1Q 2022). The increase in margin was primarily driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 12%. Revenue is forecast to grow 5.9% p.a. on average during the next 3 years, compared to a 7.1% growth forecast for the Banks industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Reported Earnings • Mar 16
Full year 2022 earnings: Revenues miss analyst expectations Full year 2022 results: Revenue: NT$53.0b (down 9.1% from FY 2021). Net income: NT$18.3b (down 29% from FY 2021). Profit margin: 35% (down from 44% in FY 2021). The decrease in margin was primarily driven by lower revenue. Revenue missed analyst estimates by 1.0%. Revenue is forecast to grow 16% p.a. on average during the next 2 years, compared to a 10% growth forecast for the Banks industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Major Estimate Revision • Jan 14
Consensus EPS estimates fall by 11% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from NT$56.3b to NT$55.1b. EPS estimate also fell from NT$1.50 per share to NT$1.33 per share. Net income forecast to grow 30% next year vs 28% growth forecast for Banks industry in Taiwan. Consensus price target broadly unchanged at NT$32.55. Share price rose 2.3% to NT$31.65 over the past week. Announcement • Dec 28
Mega Financial Holding Co., Ltd. Announces the Change of Chief Internal Auditor Mega Financial Holding Co., Ltd. announced the change of chief internal auditor as follows: Name, title, and resume of the previous position holder: Jui-Ying Tsai, Chief Auditor; Name, title, and resume of the new position holder: Ling-Chiun Lin, Vice President & General Manager of Legal Affairs Office of Mega Bank; Type of the change: retirement; Reason for the change: Jui-Ying Tsai will retire. Effective date: from handover date. Major Estimate Revision • Dec 09
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 EPS estimate increased from NT$1.24 to NT$1.50. Revenue forecast unchanged at NT$57.8b. Net income forecast to grow 32% next year vs 28% growth forecast for Banks industry in Taiwan. Consensus price target broadly unchanged at NT$33.07. Share price was steady at NT$31.15 over the past week. Major Estimate Revision • Dec 01
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 EPS estimate fell from NT$1.58 to NT$1.24 per share. Revenue forecast steady at NT$57.8b. Net income forecast to grow 30% next year vs 18% growth forecast for Banks industry in Taiwan. Consensus price target broadly unchanged at NT$33.07. Share price was steady at NT$31.60 over the past week. Reported Earnings • Nov 25
Third quarter 2022 earnings: EPS and revenues miss analyst expectations Third quarter 2022 results: EPS: NT$0.41 (down from NT$0.52 in 3Q 2021). Revenue: NT$13.4b (down 14% from 3Q 2021). Net income: NT$5.70b (down 21% from 3Q 2021). Profit margin: 42% (down from 46% in 3Q 2021). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 22%. Earnings per share (EPS) also missed analyst estimates by 31%. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Banks industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Price Target Changed • Nov 02
Price target decreased to NT$33.41 Down from NT$35.95, the current price target is an average from 10 analysts. New target price is 14% above last closing price of NT$29.35. Stock is down 9.9% over the past year. The company is forecast to post earnings per share of NT$1.58 for next year compared to NT$1.85 last year. Announcement • Oct 28
Mega Financial Holding Co., Ltd. Announces Change in Director Mega Financial Holding Co., Ltd. announced the change in director. Date of occurrence of the change: 27 October 2022; Name of the previous position holder: Chun-Lan Yen; Resume of the previous position holder: Deputy Director-General, National; Treasury Administration, Ministry of Finance, R.O.C.; Name of the new position holder: Chia-Chi Hsiao; Resume of the new position holder: Director-General, National Treasury Administration, Ministry of Finance, R.O.C.; Reason for the change: Reappointment; Effective date of the new appointment: 01 November 2022; Any other matters that need to be specified: The replaced person resigned on 30 September 2022. Announcement • Oct 26
Mega Financial Holding Co., Ltd. Announces Executive Changes, Effective from October 31, 2022 Mega Financial Holding Co., Ltd. announced the change in financial officer and accounting officer. Name, title, and resume of the previous position holder: Ching-Yi Li, Senior Vice President of Mega Financial Holding Co., Ltd. Name, title, and resume of the new position holder: Mei-Li Chao, Deputy Vice President of Mega Financial Holding Co., Ltd. Reason for the change: position adjustment. Effective date: October 31, 2022. Announcement • Oct 01
Mega Financial Holding Co., Ltd. Announces Resignation of Chun-Lan Yen as Director Mega Financial Holding Co., Ltd. announced resignation of Chun-Lan Yen as director. Date of occurrence of the change is September 29, 2022. Major Estimate Revision • Sep 05
Consensus EPS estimates fall by 16% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from NT$61.5b to NT$59.7b. EPS estimate also fell from NT$1.89 per share to NT$1.59 per share. Net income forecast to grow 26% next year vs 27% growth forecast for Banks industry in Taiwan. Consensus price target broadly unchanged at NT$36.62. Share price was steady at NT$35.30 over the past week. Reported Earnings • Aug 31
Second quarter 2022 earnings released: EPS: NT$0.14 (vs NT$0.45 in 2Q 2021) Second quarter 2022 results: EPS: NT$0.14 (down from NT$0.45 in 2Q 2021). Revenue: NT$13.0b (down 11% from 2Q 2021). Net income: NT$1.91b (down 70% from 2Q 2021). Profit margin: 15% (down from 43% in 2Q 2021). The decrease in margin was primarily driven by higher expenses. Over the next year, revenue is forecast to grow 19%, compared to a 4.9% growth forecast for the Banks industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Upcoming Dividend • Aug 04
Upcoming dividend of NT$1.40 per share Eligible shareholders must have bought the stock before 11 August 2022. Payment date: 16 September 2022. Payout ratio is a comfortable 75% but the company is not cash flow positive. Trailing yield: 3.9%. Lower than top quartile of Taiwanese dividend payers (6.7%). In line with average of industry peers (3.7%). Announcement • Jul 28
Mega Financial Holding Co., Ltd. Announces Cash Dividends, Payable on September 16, 2022 Mega Financial Holding Co., Ltd. announced Cash dividends of TWD 19,039,753,576. Ex-rights (ex-dividend) record date: August 19, 2022. Distribution date: September 16, 2022. Ex-rights (ex-dividend) trading date: August 11, 2022. Reported Earnings • May 30
First quarter 2022 earnings: Revenues and EPS in line with analyst expectations First quarter 2022 results: EPS: NT$0.44 (down from NT$0.46 in 1Q 2021). Revenue: NT$13.9b (down 4.4% from 1Q 2021). Net income: NT$6.05b (down 2.8% from 1Q 2021). Profit margin: 44% (in line with 1Q 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Over the next year, revenue is forecast to grow 17%, compared to a 2.3% growth forecast for the 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 increased by 8% per year, which means it is well ahead of earnings. Announcement • May 14
Mega Financial Holding Co., Ltd. Replaces Yung-Chen Huang with Ching-Yi Li as Chief Internal Auditor Mega Financial Holding Co., Ltd. replaced Yung-Chen Huang with Ching-Yi Li, Senior Vice President & Controller of Controller's Department as Chief Internal Auditor. Announcement • Apr 27
Mega Financial Holding Co., Ltd. Announces Distribution for 2021 Mega Financial Holding Co., Ltd. announces cash distribution to shareholders of TWD 19,039,753,576 and appropriations of earnings in stock dividends to shareholders is TWD 0.25 per share for year 2021. Price Target Changed • Apr 27
Price target increased to NT$41.06 Up from NT$38.05, the current price target is an average from 8 analysts. New target price is approximately in line with last closing price of NT$41.60. Stock is up 28% over the past year. The company is forecast to post earnings per share of NT$2.14 for next year compared to NT$1.89 last year. Price Target Changed • Apr 19
Price target increased to NT$41.06 Up from NT$37.95, the current price target is an average from 8 analysts. New target price is approximately in line with last closing price of NT$41.50. Stock is up 27% over the past year. The company is forecast to post earnings per share of NT$2.16 for next year compared to NT$1.89 last year. Announcement • Apr 12
Mega Financial Holding Co., Ltd. Announces Nil Dividend Mega Financial Holding Co., Ltd. resolved to distribute cash dividend for THB 0. Reported Earnings • Mar 17
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: NT$1.89 (up from NT$1.84 in FY 2020). Net income: NT$25.7b (up 2.9% from FY 2020). Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings. Announcement • Feb 24
Mega Financial Holding Co., Ltd. Announces the Appointment of Jui-Yun Lin as Chief Information Security Officer Mega Financial Holding Co., Ltd. announced the appointment of Jui-Yun Lin as Chief Information Security Officer. Name, title, and resume of the new position holder: Jui-Yun Lin, Executive Vice President of Mega Financial Holding Company. Effective date is March 1, 2022. Reported Earnings • Nov 28
Third quarter 2021 earnings: EPS exceeds analyst expectations Third quarter 2021 results: EPS: NT$0.53 (down from NT$0.56 in 3Q 2020). Revenue: NT$15.6b (down 3.2% from 3Q 2020). Net income: NT$7.20b (down 6.1% from 3Q 2020). Profit margin: 46% (down from 48% in 3Q 2020). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 6.0%. Earnings per share (EPS) surpassed analyst estimates by 6.0%. Over the next year, revenue is forecast to grow 7.8% compared to a 1.5% decline forecast for the 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 increased by 10% per year, which means it is well ahead of earnings. Reported Earnings • Aug 30
Second quarter 2021 earnings released: EPS NT$0.46 (vs NT$0.69 in 2Q 2020) The company reported a poor second quarter result with weaker earnings, revenues and profit margins. Second quarter 2021 results: Revenue: NT$14.6b (down 20% from 2Q 2020). Net income: NT$6.29b (down 33% from 2Q 2020). Profit margin: 43% (down from 51% in 2Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Upcoming Dividend • Aug 05
Upcoming dividend of NT$1.58 per share Eligible shareholders must have bought the stock before 12 August 2021. Payment date: 03 September 2021. Trailing yield: 4.8%. Lower than top quartile of Taiwanese dividend payers (4.9%). Higher than average of industry peers (3.5%). Executive Departure • Jul 25
President & Director Guanghua Hu has left the company On the 20th of July, Guanghua Hu was replaced as CEO by Kuang-Hua Hu after 3.4 years in the role. We don't have any record of a personal shareholding under Guanghua's name. A total of 11 executives have left over the last 12 months. The current median tenure of the management team is 4.46 years. Under Guanghua's leadership, the company delivered a total shareholder return of 61%. Executive Departure • Jul 23
Director Guoxing Li has left the company On the 20th of July, Guoxing Li's tenure as Director ended. We don't have any record of a personal shareholding under Guoxing's name. A total of 11 executives have left over the last 12 months. The current median tenure of the management team is 4.46 years. Executive Departure • Jul 22
Director Chi-Hsu Lin has left the company On the 20th of July, Chi-Hsu Lin's tenure as Director ended after 3.1 years in the role. We don't have any record of a personal shareholding under Chi-Hsu's name. A total of 11 executives have left over the last 12 months. The current median tenure of the management team is 4.46 years. Executive Departure • Jul 22
Director Cheng-Te Liang has left the company On the 20th of July, Cheng-Te Liang's tenure as Director ended after 4.9 years in the role. We don't have any record of a personal shareholding under Cheng-Te's name. A total of 11 executives have left over the last 12 months. The current median tenure of the management team is 4.46 years. Reported Earnings • May 28
First quarter 2021 earnings released: EPS NT$0.46 (vs NT$0.14 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$14.5b (up 51% from 1Q 2020). Net income: NT$6.22b (up 223% from 1Q 2020). Profit margin: 43% (up from 20% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Announcement • Apr 28
Mega Financial Holding Co., Ltd. Announces Cash Dividend for 2020, Payable on May 22, 2020 Mega Financial Holding Company Ltd. announced cash dividend for 2020 to shareholder of, TWD 21,487,721,893 or TWD 1.58 per share. Reported Earnings • Mar 31
Full year 2020 earnings released: EPS NT$1.84 (vs NT$2.13 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$58.7b (down 9.1% from FY 2019). Net income: NT$25.0b (down 14% from FY 2019). Profit margin: 43% (down from 45% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Mar 09
New 90-day high: NT$30.60 The company is up 6.0% from its price of NT$28.75 on 09 December 2020. The Taiwanese market is up 10.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Banks industry, which is up 2.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is NT$23.49 per share. Announcement • Jan 17
Mega Financial Holding Co., Ltd. Announces Change of Directors Mega Financial Holding Co., Ltd. announced appointment of Yih-Jiuan Wu as director by replacing Chiun-Min Tsai, effective date January 16, 2021. Is New 90 Day High Low • Dec 30
New 90-day high: NT$29.90 The company is up 8.0% from its price of NT$27.80 on 30 September 2020. The Taiwanese market is up 15% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Banks industry, which is up 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is NT$23.18 per share. Announcement • Dec 23
Mega Financial Holding Co., Ltd. Announces Change of Director Mega Financial Holding Co., Ltd. announced change of director. Previous position holder: Cheng-Mount Cheng, Former Deputy Minister of National Development Council, Executive Yuan, R.O.C. Name and resume of the new position holder: Keh-Her Shih, Deputy Minister of National Development Council, Executive Yuan, R.O.C. Reason for the change: Reappointment. Original term is from July 1, 2018 to June 30, 2021. Effective date of the new appointment is on December 21, 2020. The replaced person resigned on October 1, 2020. Reported Earnings • Nov 27
Third quarter 2020 earnings released: EPS NT$0.56 The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2020 results: Revenue: NT$16.1b (down 1.0% from 3Q 2019). Net income: NT$7.67b (up 3.7% from 3Q 2019). Profit margin: 48% (up from 45% in 3Q 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Analyst Estimate Surprise Post Earnings • Nov 27
Revenue and earnings miss expectations Revenue missed analyst estimates by 12%. Earnings per share (EPS) also missed analyst estimates by 7.4%. Over the next year, revenue is forecast to grow 8.3% compared to a 1.7% decline forecast for the Banks industry in Taiwan. 
