Upcoming Dividend • Jun 16
Upcoming dividend of NT$2.77 per share Eligible shareholders must have bought the stock before 23 June 2026. Payment date: 20 July 2026. Payout ratio is on the higher end at 77%, and the cash payout ratio is above 100%. Trailing yield: 4.6%. Lower than top quartile of Taiwanese dividend payers (4.8%). Higher than average of industry peers (2.3%). Declared Dividend • May 27
Dividend increased to NT$2.80 Dividend of NT$2.80 is 22% higher than last year. Ex-date: 23rd June 2026 Payment date: 20th July 2026 Dividend yield will be 4.7%, which is higher than the industry average of 3.1%. Sustainability & Growth Dividend is covered by earnings (77% earnings payout ratio) but not covered by cash flows (131% cash payout ratio). The dividend has increased by an average of 4.6% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 18% over the next year, which should provide support to the dividend and adequate earnings cover. Reported Earnings • May 09
First quarter 2026 earnings released: EPS: NT$0.70 (vs NT$0.55 in 1Q 2025) First quarter 2026 results: EPS: NT$0.70 (up from NT$0.55 in 1Q 2025). Revenue: NT$257.1m (up 12% from 1Q 2025). Net income: NT$21.0m (up 26% from 1Q 2025). Profit margin: 8.2% (up from 7.3% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 14% p.a. on average during the next 2 years, compared to a 20% growth forecast for the Electrical 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 only increased by 7% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • Mar 24
Now 21% undervalued Over the last 90 days, the stock has risen 4.1% to NT$64.00. The fair value is estimated to be NT$81.14, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue is forecast to grow by 31% in 2 years. Earnings are forecast to grow by 42% in the next 2 years. Buy Or Sell Opportunity • Mar 04
Now 23% undervalued Over the last 90 days, the stock has risen 29% to NT$62.50. The fair value is estimated to be NT$81.12, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue is forecast to grow by 31% in 2 years. Earnings are forecast to grow by 42% in the next 2 years. Reported Earnings • Feb 26
Full year 2025 earnings released: EPS: NT$3.50 (vs NT$2.80 in FY 2024) Full year 2025 results: EPS: NT$3.50 (up from NT$2.80 in FY 2024). Revenue: NT$1.15b (up 23% from FY 2024). Net income: NT$104.9m (up 25% from FY 2024). Profit margin: 9.1% (up from 9.0% in FY 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 17% growth forecast for the Electrical industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 7% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Feb 24
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to NT$65.40, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 22x in the Electrical industry in Taiwan. Total returns to shareholders of 39% over the past three years. Announcement • Feb 11
Grand-Tek Technology Co., Ltd., Annual General Meeting, May 14, 2026 Grand-Tek Technology Co., Ltd., Annual General Meeting, May 14, 2026. Location: 8 floor no,233-2, pao ch`iao rd., sindian district, new taipei city Taiwan New Risk • Jan 22
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. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (8.6% average weekly change). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (NT$1.70b market cap, or US$53.7m). Valuation Update With 7 Day Price Move • Dec 17
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to NT$58.40, the stock trades at a trailing P/E ratio of 16x. Average trailing P/E is 22x in the Electrical industry in Taiwan. Total returns to shareholders of 43% over the past three years. New Risk • Dec 16
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 6.8% 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 Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.8% average weekly change). Market cap is less than US$100m (NT$1.59b market cap, or US$50.7m). Valuation Update With 7 Day Price Move • Nov 05
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$58.70, the stock trades at a trailing P/E ratio of 22x. Average trailing P/E is 28x in the Electrical industry in Taiwan. Total returns to shareholders of 34% over the past three years. Reported Earnings • Aug 13
Second quarter 2025 earnings released: EPS: NT$0.68 (vs NT$0.92 in 2Q 2024) Second quarter 2025 results: EPS: NT$0.68 (down from NT$0.92 in 2Q 2024). Revenue: NT$324.8m (up 26% from 2Q 2024). Net income: NT$20.2m (down 27% from 2Q 2024). Profit margin: 6.2% (down from 11% in 2Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Jul 14
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$50.20, the stock trades at a trailing P/E ratio of 17.2x. Average trailing P/E is 19x in the Electrical industry in Taiwan. Total returns to shareholders of 49% over the past three years. Upcoming Dividend • Jun 23
Upcoming dividend of NT$2.30 per share Eligible shareholders must have bought the stock before 30 June 2025. Payment date: 22 July 2025. Payout ratio is on the higher end at 79%, however this is supported by cash flows. Trailing yield: 5.1%. Lower than top quartile of Taiwanese dividend payers (5.3%). Higher than average of industry peers (2.8%). Declared Dividend • Jun 05
Dividend increased to NT$2.30 Dividend of NT$2.30 is 187% higher than last year. Ex-date: 30th June 2025 Payment date: 22nd July 2025 Dividend yield will be 5.1%, which is higher than the industry average of 3.1%. Sustainability & Growth Dividend is covered by both earnings (79% earnings payout ratio) and cash flows (56% cash payout ratio). The dividend has increased by an average of 5.2% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to decline by 12% to shift the payout ratio to a potentially unsustainable range, which is more than the 4.6% EPS decline seen over the last 5 years. Reported Earnings • May 19
First quarter 2025 earnings released: EPS: NT$0.55 (vs NT$0.44 in 1Q 2024) First quarter 2025 results: EPS: NT$0.55 (up from NT$0.44 in 1Q 2024). Revenue: NT$229.2m (up 24% from 1Q 2024). Net income: NT$16.6m (up 27% from 1Q 2024). Profit margin: 7.3% (up from 7.1% in 1Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Buy Or Sell Opportunity • May 16
Now 21% overvalued Over the last 90 days, the stock has fallen 2.2% to NT$45.00. The fair value is estimated to be NT$37.11, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 8.7% over the last 3 years. Earnings per share has declined by 28%. Reported Earnings • Mar 26
Full year 2024 earnings released: EPS: NT$2.80 (vs NT$1.17 in FY 2023) Full year 2024 results: EPS: NT$2.80 (up from NT$1.17 in FY 2023). Revenue: NT$937.7m (up 16% from FY 2023). Net income: NT$84.0m (up 140% from FY 2023). Profit margin: 9.0% (up from 4.3% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Announcement • Feb 27
Grand-Tek Technology Co., Ltd., Annual General Meeting, May 22, 2025 Grand-Tek Technology Co., Ltd., Annual General Meeting, May 22, 2025. Location: 8 floor no,233-2, pao ch`iao rd., sindian district, new taipei city Taiwan Reported Earnings • Nov 19
Third quarter 2024 earnings released: EPS: NT$0.35 (vs NT$0.20 in 3Q 2023) Third quarter 2024 results: EPS: NT$0.35 (up from NT$0.20 in 3Q 2023). Revenue: NT$225.9m (up 20% from 3Q 2023). Net income: NT$10.4m (up 72% from 3Q 2023). Profit margin: 4.6% (up from 3.2% in 3Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Reported Earnings • Aug 17
Second quarter 2024 earnings released: EPS: NT$0.92 (vs NT$0.55 in 2Q 2023) Second quarter 2024 results: EPS: NT$0.92 (up from NT$0.55 in 2Q 2023). Revenue: NT$257.2m (up 26% from 2Q 2023). Net income: NT$27.6m (up 67% from 2Q 2023). Profit margin: 11% (up from 8.1% in 2Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Upcoming Dividend • Jun 20
Upcoming dividend of NT$0.80 per share Eligible shareholders must have bought the stock before 27 June 2024. Payment date: 18 July 2024. Payout ratio is a comfortable 67% but the company is paying out more than the cash it is generating. Trailing yield: 1.6%. Lower than top quartile of Taiwanese dividend payers (4.2%). Lower than average of industry peers (2.3%). Reported Earnings • May 20
First quarter 2024 earnings released: EPS: NT$0.44 (vs NT$0.41 in 1Q 2023) First quarter 2024 results: EPS: NT$0.44 (up from NT$0.41 in 1Q 2023). Revenue: NT$184.5m (down 25% from 1Q 2023). Net income: NT$13.1m (up 6.0% from 1Q 2023). Profit margin: 7.1% (up from 5.0% in 1Q 2023). The increase in margin was driven by lower expenses. 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 15% per year, which means it is well ahead of earnings. Reported Earnings • Apr 03
Full year 2023 earnings released: EPS: NT$1.17 (vs NT$4.10 in FY 2022) Full year 2023 results: EPS: NT$1.17 (down from NT$4.10 in FY 2022). Revenue: NT$807.6m (down 29% from FY 2022). Net income: NT$35.0m (down 72% from FY 2022). Profit margin: 4.3% (down from 11% in FY 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 10% per year whereas the company’s share price has increased by 7% per year. Announcement • Mar 05
Grand-Tek Technology Co., Ltd., Annual General Meeting, May 21, 2024 Grand-Tek Technology Co., Ltd., Annual General Meeting, May 21, 2024. New Risk • Nov 18
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 5.6% Last year net profit margin: 12% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 107% Dividend per share is over 71x cash flows per share. Minor Risks Profit margins are more than 30% lower than last year (5.6% net profit margin). Market cap is less than US$100m (NT$1.35b market cap, or US$42.5m). Reported Earnings • Aug 12
Second quarter 2023 earnings released: EPS: NT$0.55 (vs NT$1.22 in 2Q 2022) Second quarter 2023 results: EPS: NT$0.55 (down from NT$1.22 in 2Q 2022). Revenue: NT$204.5m (down 21% from 2Q 2022). Net income: NT$16.5m (down 55% from 2Q 2022). Profit margin: 8.1% (down from 14% in 2Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jun 06
Upcoming dividend of NT$2.30 per share at 3.7% yield Eligible shareholders must have bought the stock before 13 June 2023. Payment date: 13 July 2023. Payout ratio is a comfortable 50% and this is well supported by cash flows. Trailing yield: 3.7%. Lower than top quartile of Taiwanese dividend payers (5.5%). Higher than average of industry peers (3.0%). Reported Earnings • Mar 24
Full year 2022 earnings released: EPS: NT$5.00 (vs NT$3.50 in FY 2021) Full year 2022 results: EPS: NT$5.00 (up from NT$3.50 in FY 2021). Revenue: NT$1.13b (up 23% from FY 2021). Net income: NT$123.0m (up 44% from FY 2021). Profit margin: 11% (up from 9.3% in FY 2021). The increase in margin was driven by higher revenue. 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 29% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Feb 24
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$64.20, the stock trades at a trailing P/E ratio of 11.7x. Average trailing P/E is 14x in the Electrical industry in Taiwan. Total returns to shareholders of 94% over the past three years. Board Change • Nov 16
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 7 experienced directors. No highly experienced directors. 2 independent directors (3 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Nov 07
Third quarter 2022 earnings released: EPS: NT$1.88 (vs NT$1.14 in 3Q 2021) Third quarter 2022 results: EPS: NT$1.88 (up from NT$1.14 in 3Q 2021). Revenue: NT$320.4m (up 20% from 3Q 2021). Net income: NT$46.3m (up 65% from 3Q 2021). Profit margin: 14% (up from 11% in 3Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 12% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Aug 15
Second quarter 2022 earnings released: EPS: NT$1.49 (vs NT$0.64 in 2Q 2021) Second quarter 2022 results: EPS: NT$1.49 (up from NT$0.64 in 2Q 2021). Revenue: NT$257.3m (up 32% from 2Q 2021). Net income: NT$36.7m (up 134% from 2Q 2021). Profit margin: 14% (up from 8.0% in 2Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 17% per year, which means it is well ahead of earnings. Upcoming Dividend • Jun 21
Upcoming dividend of NT$3.00 per share Eligible shareholders must have bought the stock before 28 June 2022. Payment date: 22 July 2022. Payout ratio and cash payout ratio are on the higher end at 77% and 77% respectively. Trailing yield: 6.1%. Lower than top quartile of Taiwanese dividend payers (6.3%). Higher than average of industry peers (3.8%). Reported Earnings • May 09
First quarter 2022 earnings released: EPS: NT$0.89 (vs NT$0.47 in 1Q 2021) First quarter 2022 results: EPS: NT$0.89 (up from NT$0.47 in 1Q 2021). Revenue: NT$243.5m (up 58% from 1Q 2021). Net income: NT$21.9m (up 95% from 1Q 2021). Profit margin: 9.0% (up from 7.3% in 1Q 2021). The increase in margin was driven by higher revenue. 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 17% per year, which means it is well ahead of earnings. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 7 experienced directors. No highly experienced directors. 2 independent directors (3 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Mar 13
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: EPS: NT$3.50 (up from NT$2.03 in FY 2020). Revenue: NT$920.0m (up 76% from FY 2020). Net income: NT$85.4m (up 75% from FY 2020). Profit margin: 9.3% (in line with FY 2020). Revenue exceeded analyst estimates by 6.6%. 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 26% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Jan 04
Investor sentiment improved over the past week After last week's 16% share price gain to NT$60.10, the stock trades at a trailing P/E ratio of 22.1x. Average trailing P/E is 17x in the Electrical industry in Taiwan. Total returns to shareholders of 124% over the past three years. Valuation Update With 7 Day Price Move • Dec 10
Investor sentiment improved over the past week After last week's 27% share price gain to NT$53.50, the stock trades at a trailing P/E ratio of 19.6x. Average trailing P/E is 16x in the Electrical industry in Taiwan. Total returns to shareholders of 103% over the past three years. Reported Earnings • Nov 10
Third quarter 2021 earnings released: EPS NT$1.14 (vs NT$0.37 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$267.4m (up 113% from 3Q 2020). Net income: NT$28.1m (up 217% from 3Q 2020). Profit margin: 11% (up from 7.1% in 3Q 2020). The increase in margin was driven by higher revenue. 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. Reported Earnings • Aug 13
Second quarter 2021 earnings released: EPS NT$0.64 (vs NT$0.60 in 2Q 2020) The company reported a solid second quarter result with improved earnings and revenues, although profit margins were weaker. Second quarter 2021 results: Revenue: NT$195.3m (up 52% from 2Q 2020). Net income: NT$15.7m (up 7.9% from 2Q 2020). Profit margin: 8.0% (down from 11% in 2Q 2020). The decrease in margin was driven by higher expenses. 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 • Jul 26
Upcoming dividend of NT$1.50 per share Eligible shareholders must have bought the stock before 02 August 2021. Payment date: 20 August 2021. Trailing yield: 3.8%. Lower than top quartile of Taiwanese dividend payers (4.9%). Higher than average of industry peers (3.3%). Reported Earnings • May 12
First quarter 2021 earnings released: EPS NT$0.47 (vs NT$0.56 in 1Q 2020) The company reported a mediocre first quarter result with weaker earnings and profit margins, although revenues improved. First quarter 2021 results: Revenue: NT$154.0m (up 30% from 1Q 2020). Net income: NT$11.2m (down 17% from 1Q 2020). Profit margin: 7.3% (down from 11% in 1Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has increased by 2% per year. Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment improved over the past week After last week's 21% share price gain to NT$44.40, the stock trades at a trailing P/E ratio of 21.9x. Average trailing P/E is 17x in the Electrical industry in Taiwan. Total returns to shareholders of 30% over the past three years. Reported Earnings • Mar 24
Full year 2020 earnings released: EPS NT$2.03 (vs NT$4.64 in FY 2019) The company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2020 results: Revenue: NT$522.0m (up 11% from FY 2019). Net income: NT$48.8m (down 56% from FY 2019). Profit margin: 9.3% (down from 24% in FY 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Announcement • Mar 13
Grand-Tek Technology Co., Ltd., Annual General Meeting, Jun 03, 2021 Grand-Tek Technology Co., Ltd., Annual General Meeting, Jun 03, 2021. Is New 90 Day High Low • Feb 25
New 90-day high: NT$37.40 The company is up 9.0% from its price of NT$34.45 on 27 November 2020. The Taiwanese market is up 17% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electrical industry, which is up 11% over the same period. Is New 90 Day High Low • Feb 06
New 90-day high: NT$35.95 The company is up 4.0% from its price of NT$34.50 on 06 November 2020. The Taiwanese market is up 20% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electrical industry, which is up 9.0% over the same period. Is New 90 Day High Low • Jan 21
New 90-day low: NT$33.30 The company is down 4.0% from its price of NT$34.80 on 23 October 2020. The Taiwanese market is up 21% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electrical industry, which is up 8.0% over the same period. Is New 90 Day High Low • Nov 10
New 90-day low: NT$34.20 The company is down 5.0% from its price of NT$36.15 on 12 August 2020. The Taiwanese market is up 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electrical industry, which is up 10.0% over the same period. Reported Earnings • Nov 08
Third quarter 2020 earnings released: EPS NT$0.37 The company reported a mediocre third quarter result with weaker earnings and profit margins, although revenues were improved. Third quarter 2020 results: Revenue: NT$125.7m (up 32% from 3Q 2019). Net income: NT$8.87m (down 86% from 3Q 2019). Profit margin: 7.1% (down from 65% in 3Q 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Sep 25
New 90-day low: NT$34.75 The company is down 8.0% from its price of NT$37.65 on 24 June 2020. The Taiwanese market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electrical industry, which is up 9.0% over the same period.