Valuation Update With 7 Day Price Move • Jun 03
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$106, the stock trades at a trailing P/E ratio of 38.9x. Average trailing P/E is 29x in the Machinery industry in Taiwan. Total returns to shareholders of 274% over the past three years. Valuation Update With 7 Day Price Move • May 09
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to NT$118, the stock trades at a trailing P/E ratio of 43.5x. Average trailing P/E is 31x in the Machinery industry in Taiwan. Total returns to shareholders of 373% over the past three years. Reported Earnings • Apr 25
Full year 2025 earnings released: EPS: NT$2.71 (vs NT$2.98 in FY 2024) Full year 2025 results: EPS: NT$2.71 (down from NT$2.98 in FY 2024). Revenue: NT$378.0m (down 1.0% from FY 2024). Net income: NT$48.8m (down 9.0% from FY 2024). Profit margin: 13% (down from 14% in FY 2024). Over the last 3 years on average, earnings per share has increased by 44% 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 • Apr 24
Investor sentiment improves as stock rises 39% After last week's 39% share price gain to NT$102, the stock trades at a trailing P/E ratio of 35.3x. Average trailing P/E is 31x in the Machinery industry in Taiwan. Total returns to shareholders of 286% over the past three years. New Risk • Apr 21
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 30% 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 (30% average weekly change). Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). 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$2.64b market cap, or US$83.9m). Buy Or Sell Opportunity • Apr 21
Now 26% overvalued after recent price rise Over the last 90 days, the stock has risen 141% to NT$147. The fair value is estimated to be NT$117, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 2.8% over the last 3 years. Earnings per share has grown by 23%. Announcement • Mar 20
MARTAS Precision Slide Co.,Ltd, Annual General Meeting, Jun 29, 2026 MARTAS Precision Slide Co.,Ltd, Annual General Meeting, Jun 29, 2026. Location: 4 floor no,222-1, sec.3 chung yang rd., tucheng district, new taipei city Taiwan Valuation Update With 7 Day Price Move • Mar 20
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to NT$71.60, the stock trades at a trailing P/E ratio of 24.9x. Average trailing P/E is 24x in the Machinery industry in Taiwan. Total returns to shareholders of 172% over the past three years. New Risk • Mar 02
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). 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 (8.1% average weekly change). Market cap is less than US$100m (NT$1.09b market cap, or US$34.8m). Valuation Update With 7 Day Price Move • Oct 29
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$82.10, the stock trades at a trailing P/E ratio of 28.6x. Average trailing P/E is 25x in the Machinery industry in Taiwan. Total returns to shareholders of 218% over the past three years. Valuation Update With 7 Day Price Move • Aug 29
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$75.30, the stock trades at a trailing P/E ratio of 26.2x. Average trailing P/E is 24x in the Machinery industry in Taiwan. Total returns to shareholders of 182% over the past three years. Upcoming Dividend • Jul 23
Upcoming dividend of NT$2.20 per share Eligible shareholders must have bought the stock before 30 July 2025. Payment date: 26 August 2025. Payout ratio is a comfortable 74% and this is well supported by cash flows. Trailing yield: 3.1%. Lower than top quartile of Taiwanese dividend payers (5.3%). In line with average of industry peers (2.9%). Valuation Update With 7 Day Price Move • Jul 11
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$66.30, the stock trades at a trailing P/E ratio of 22.2x. Average trailing P/E is 17x in the Machinery industry in Taiwan. Total returns to shareholders of 157% over the past three years. Valuation Update With 7 Day Price Move • Jun 09
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$53.10, the stock trades at a trailing P/E ratio of 17.8x. Average trailing P/E is 18x in the Machinery industry in Taiwan. Total returns to shareholders of 110% over the past three years. New Risk • May 18
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: 4.9% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (15% 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$805.6m market cap, or US$26.6m). Reported Earnings • May 04
Full year 2024 earnings released: EPS: NT$2.98 (vs NT$0.12 in FY 2023) Full year 2024 results: EPS: NT$2.98 (up from NT$0.12 in FY 2023). Revenue: NT$381.9m (up 29% from FY 2023). Net income: NT$53.7m (up NT$51.6m from FY 2023). Profit margin: 14% (up from 0.7% in FY 2023). 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 whereas the company’s share price has increased by 6% per year. New Risk • Apr 07
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 11% 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 (11% average weekly change). Minor Risks Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Market cap is less than US$100m (NT$721.9m market cap, or US$21.8m). Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 25% After last week's 25% share price decline to NT$39.95, the stock trades at a trailing P/E ratio of 25.7x. Average trailing P/E is 19x in the Machinery industry in Taiwan. Total returns to shareholders of 61% over the past three years. Buy Or Sell Opportunity • Apr 02
Now 21% undervalued Over the last 90 days, the stock has risen 1.5% to NT$53.00. The fair value is estimated to be NT$66.69, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 8.2% over the last 3 years. Earnings per share has declined by 11%. Announcement • Mar 14
MARTAS Precision Slide Co.,Ltd, Annual General Meeting, May 29, 2025 MARTAS Precision Slide Co.,Ltd, Annual General Meeting, May 29, 2025, at 10:00 Taipei Standard Time. Location: 4 floor no,222-1, sec.3 chung yang rd., tucheng district, new taipei city Taiwan New Risk • Mar 02
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Minor Risks Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Share price has been volatile over the past 3 months (6.5% average weekly change). Market cap is less than US$100m (NT$1.04b market cap, or US$31.5m). Buy Or Sell Opportunity • Jan 21
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 6.3% to NT$55.30. The fair value is estimated to be NT$70.12, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 8.2% over the last 3 years. Earnings per share has declined by 11%. Buy Or Sell Opportunity • Dec 16
Now 23% undervalued after recent price drop Over the last 90 days, the stock has fallen 16% to NT$55.20. The fair value is estimated to be NT$71.58, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 8.2% over the last 3 years. Earnings per share has declined by 11%. Buy Or Sell Opportunity • Nov 05
Now 21% undervalued Over the last 90 days, the stock has risen 2.2% to NT$56.30. The fair value is estimated to be NT$71.49, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 8.2% over the last 3 years. Earnings per share has declined by 11%. Buy Or Sell Opportunity • Oct 18
Now 20% undervalued Over the last 90 days, the stock has risen 4.1% to NT$57.00. The fair value is estimated to be NT$71.41, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 8.2% over the last 3 years. Earnings per share has declined by 11%. Valuation Update With 7 Day Price Move • Sep 28
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to NT$53.10, the stock trades at a trailing P/E ratio of 34.2x. Average trailing P/E is 20x in the Machinery industry in Taiwan. Total returns to shareholders of 84% over the past three years. Buy Or Sell Opportunity • Sep 28
Now 26% undervalued The stock has been flat over the last 90 days, currently trading at NT$53.10. The fair value is estimated to be NT$71.71, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 8.2% over the last 3 years. Earnings per share has declined by 11%. Upcoming Dividend • Aug 29
Upcoming dividend of NT$0.44 per share Eligible shareholders must have bought the stock before 05 September 2024. Payment date: 11 October 2024. Payout ratio is a comfortable 27% and this is well supported by cash flows. Trailing yield: 0.7%. Lower than top quartile of Taiwanese dividend payers (4.3%). Lower than average of industry peers (2.4%). Reported Earnings • Apr 28
Full year 2023 earnings released: EPS: NT$0.12 (vs NT$2.15 in FY 2022) Full year 2023 results: EPS: NT$0.12 (down from NT$2.15 in FY 2022). Revenue: NT$296.0m (down 25% from FY 2022). Net income: NT$2.09m (down 94% from FY 2022). Profit margin: 0.7% (down from 9.3% 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 7% per year but the company’s share price has increased by 22% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Mar 28
MARTAS Precision Slide Co.,Ltd, Annual General Meeting, Jun 13, 2024 MARTAS Precision Slide Co.,Ltd, Annual General Meeting, Jun 13, 2024. New Risk • Aug 14
New major risk - Revenue and earnings growth Earnings have declined by 1.9% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (10% average weekly change). Earnings have declined by 1.9% per year over the past 5 years. Minor Risks Dividend is not well covered by earnings (263% payout ratio). Profit margins are more than 30% lower than last year (3.3% net profit margin). Market cap is less than US$100m (NT$749.1m market cap, or US$23.4m). New Risk • Jul 16
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: 3.8% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (9.2% 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$681.0m market cap, or US$22.0m). Upcoming Dividend • Jul 13
Upcoming dividend of NT$1.50 per share Eligible shareholders must have bought the stock before 20 July 2023. Payment date: 17 August 2023. The company last paid an ordinary dividend in April 2019. The average dividend yield among industry peers is 3.1%. 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$38.05, the stock trades at a trailing P/E ratio of 17.7x. Average trailing P/E is 16x in the Machinery industry in Taiwan. Total returns to shareholders of 42% over the past three years. Reported Earnings • Aug 15
First half 2022 earnings released: EPS: NT$1.06 (vs NT$0.25 in 1H 2021) First half 2022 results: EPS: NT$1.06 (up from NT$0.25 in 1H 2021). Revenue: NT$215.2m (up 20% from 1H 2021). Net income: NT$18.0m (up 322% from 1H 2021). Profit margin: 8.4% (up from 2.4% in 1H 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 fallen by 8% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • May 10
Investor sentiment deteriorated over the past week After last week's 21% share price decline to NT$28.45, the stock trades at a trailing P/E ratio of 20x. Average trailing P/E is 15x in the Machinery industry in Taiwan. Total loss to shareholders of 31% over the past three years. Reported Earnings • Apr 27
Full year 2021 earnings released: EPS: NT$1.42 (vs NT$0.27 in FY 2020) Full year 2021 results: EPS: NT$1.42 (up from NT$0.27 in FY 2020). Revenue: NT$422.3m (up 53% from FY 2020). Net income: NT$24.2m (up 422% from FY 2020). Profit margin: 5.7% (up from 1.7% in FY 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 44% per year but the company’s share price has only fallen by 11% per year, which means it has not declined as severely as earnings. Reported Earnings • Aug 19
First half 2021 earnings released: EPS NT$0.25 (vs NT$0.19 in 1H 2020) The company reported a solid first half result with improved earnings and revenues, although profit margins were flat. First half 2021 results: Revenue: NT$179.4m (up 30% from 1H 2020). Net income: NT$4.26m (up 30% from 1H 2020). Profit margin: 2.4% (in line with 1H 2020). Upcoming Dividend • Jul 28
Upcoming dividend of NT$1.00 per share Eligible shareholders must have bought the stock before 04 August 2021. Payment date: 31 August 2021. Trailing yield: 3.1%. Lower than top quartile of Taiwanese dividend payers (4.9%). Higher than average of industry peers (2.6%). Reported Earnings • May 02
Full year 2020 earnings released: EPS NT$0.27 (vs NT$0.93 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$275.7m (down 25% from FY 2019). Net income: NT$4.64m (down 71% from FY 2019). Profit margin: 1.7% (down from 4.3% in FY 2019). The decrease in margin was driven by lower revenue. Announcement • Mar 20
MARTAS Precision Slide Co.,Ltd, Annual General Meeting, Jun 11, 2021 MARTAS Precision Slide Co.,Ltd, Annual General Meeting, Jun 11, 2021. 
