Reported Earnings • May 16
First quarter 2026 earnings released: EPS: NT$0.27 (vs NT$0.27 in 1Q 2025) First quarter 2026 results: EPS: NT$0.27 (down from NT$0.27 in 1Q 2025). Revenue: NT$191.8m (up 11% from 1Q 2025). Net income: NT$29.4m (flat on 1Q 2025). Profit margin: 15% (down from 17% in 1Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 10% per year whereas the company’s share price has fallen by 5% per year. Reported Earnings • Mar 17
Full year 2025 earnings released: EPS: NT$1.09 (vs NT$0.56 in FY 2024) Full year 2025 results: EPS: NT$1.09 (up from NT$0.56 in FY 2024). Revenue: NT$815.3m (up 12% from FY 2024). Net income: NT$120.2m (up 94% from FY 2024). Profit margin: 15% (up from 8.5% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Announcement • Mar 14
KENT Industrial Co.,Ltd. announces Annual dividend, payable on July 15, 2026 KENT Industrial Co.,Ltd. announced Annual dividend of TWD 1.0300 per share payable on July 15, 2026, ex-date on June 17, 2026 and record date on June 20, 2026. Announcement • Mar 13
KENT Industrial Co.,Ltd., Annual General Meeting, Jun 01, 2026 KENT Industrial Co.,Ltd., Annual General Meeting, Jun 01, 2026. Location: no,17, tou kung 9th rd., douliou city, yunlin county Taiwan New Risk • Nov 28
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 311% Cash payout ratio: 203% Dividend yield: 12% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain 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 Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 311% Cash payout ratio: 203% Earnings have declined by 29% per year over the past 5 years. Minor Risk Market cap is less than US$100m (NT$2.77b market cap, or US$88.3m). Reported Earnings • Aug 17
Second quarter 2025 earnings released: EPS: NT$0.20 (vs NT$0.36 in 2Q 2024) Second quarter 2025 results: EPS: NT$0.20 (down from NT$0.36 in 2Q 2024). Revenue: NT$227.5m (up 11% from 2Q 2024). Net income: NT$20.8m (down 48% from 2Q 2024). Profit margin: 9.1% (down from 20% 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 35% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. New Risk • May 24
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 59% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Dividend per share is over 5x earnings per share. Cash payout ratio: 157% Earnings have declined by 29% per year over the past 5 years. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (9.4% net profit margin). Market cap is less than US$100m (NT$2.87b market cap, or US$95.8m). Reported Earnings • May 15
First quarter 2025 earnings released: EPS: NT$0.27 (vs NT$0.21 in 1Q 2024) First quarter 2025 results: EPS: NT$0.27 (up from NT$0.21 in 1Q 2024). Revenue: NT$172.7m (flat on 1Q 2024). Net income: NT$29.4m (up 26% from 1Q 2024). Profit margin: 17% (up from 14% in 1Q 2024). Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. New Risk • May 01
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: 8.5% Last year net profit margin: 13% 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 Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 157% Cash payout ratio: 143% Earnings have declined by 23% per year over the past 5 years. Minor Risks Profit margins are more than 30% lower than last year (8.5% net profit margin). Market cap is less than US$100m (NT$2.76b market cap, or US$85.9m). Announcement • May 01
KENT Industrial Co.,Ltd. to Report Q1, 2025 Results on May 08, 2025 KENT Industrial Co.,Ltd. announced that they will report Q1, 2025 results on May 08, 2025 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$25.65, the stock trades at a trailing P/E ratio of 26.9x. Average trailing P/E is 19x in the Machinery industry in Taiwan. Total returns to shareholders of 27% over the past three years. Upcoming Dividend • Mar 21
Upcoming dividend of NT$3.00 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 25 April 2025. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 4.9%. Within top quartile of Taiwanese dividend payers (4.6%). Higher than average of industry peers (2.5%). Announcement • Mar 13
Kent Industrial Co.,Ltd. Announces Cash Dividend, Payable on April 25, 2025 KENT Industrial Co.,Ltd. announced cash dividend, payable on April 25, 2025. Type and monetary amount of common stock dividend distribution: Appropriations of earnings in cash dividends to shareholders of TWD 3.00 per share. Total amount of cash distributed to shareholders: TWD 330,911,349. Ex-rights (ex-dividend) trading date: March 28, 2025. Ex-rights (ex-dividend) record date: April 5, 2025. Announcement • Mar 12
KENT Industrial Co.,Ltd., Annual General Meeting, Jun 20, 2025 KENT Industrial Co.,Ltd., Annual General Meeting, Jun 20, 2025. Location: no,17, tou kung 9th rd., douliou city, yunlin county Taiwan Announcement • Mar 04
KENT Industrial Co.,Ltd. to Report Q4, 2024 Results on Mar 11, 2025 KENT Industrial Co.,Ltd. announced that they will report Q4, 2024 results on Mar 11, 2025 New Risk • Dec 04
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 37% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 157% Cash payout ratio: 155% Earnings have declined by 17% per year over the past 5 years. Minor Risks Large one-off items impacting financial results. Market cap is less than US$100m (NT$3.04b market cap, or US$93.4m). Reported Earnings • Nov 18
Third quarter 2024 earnings released: EPS: NT$0.16 (vs NT$0.28 in 3Q 2023) Third quarter 2024 results: EPS: NT$0.16 (down from NT$0.28 in 3Q 2023). Revenue: NT$172.8m (down 24% from 3Q 2023). Net income: NT$17.5m (down 43% from 3Q 2023). Profit margin: 10% (down from 14% in 3Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Announcement • Oct 29
KENT Industrial Co.,Ltd. to Report Q3, 2024 Results on Nov 05, 2024 KENT Industrial Co.,Ltd. announced that they will report Q3, 2024 results on Nov 05, 2024 New Risk • Oct 05
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: NT$3.22b (US$99.7m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 140% Paying a dividend despite having no free cash flows. Earnings have declined by 13% per year over the past 5 years. Minor Risks Large one-off items impacting financial results. Market cap is less than US$100m (NT$3.22b market cap, or US$99.7m). Valuation Update With 7 Day Price Move • Sep 04
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to NT$34.40, the stock trades at a trailing P/E ratio of 32x. Average trailing P/E is 19x in the Machinery industry in Taiwan. Total returns to shareholders of 54% over the past three years. New Risk • Aug 30
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 34% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 140% Paying a dividend despite having no free cash flows. Earnings have declined by 13% per year over the past 5 years. Minor Risks Large one-off items impacting financial results. Market cap is less than US$100m (NT$3.15b market cap, or US$98.6m). Reported Earnings • Aug 17
Second quarter 2024 earnings released: EPS: NT$0.36 (vs NT$0.27 in 2Q 2023) Second quarter 2024 results: EPS: NT$0.36 (up from NT$0.27 in 2Q 2023). Revenue: NT$204.7m (down 4.3% from 2Q 2023). Net income: NT$40.2m (up 35% from 2Q 2023). Profit margin: 20% (up from 14% in 2Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Announcement • Aug 01
KENT Industrial Co.,Ltd. to Report Q2, 2024 Results on Aug 07, 2024 KENT Industrial Co.,Ltd. announced that they will report Q2, 2024 results on Aug 07, 2024 Upcoming Dividend • Jun 16
Upcoming dividend of NT$1.50 per share Eligible shareholders must have bought the stock before 20 June 2024. Payment date: 12 July 2024. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 5.4%. Within top quartile of Taiwanese dividend payers (4.2%). Higher than average of industry peers (2.4%). Declared Dividend • Jun 01
Dividend reduced to NT$1.50 Dividend of NT$1.50 is 25% lower than last year. Ex-date: 20th June 2024 Payment date: 12th July 2024 Dividend yield will be 5.4%, which is higher than the industry average of 3.0%. Sustainability & Growth Dividend is not covered by earnings (153% earnings payout ratio) nor is it covered by cash flows (dividend approximately 5x free cash flows). The dividend has increased by an average of 15% per year over the past 5 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 70% to bring the payout ratio under control. However, EPS has declined by 6.1% over the last 5 years so the company would need to reverse this trend. Reported Earnings • May 13
First quarter 2024 earnings released: EPS: NT$0.21 (vs NT$0.17 in 1Q 2023) First quarter 2024 results: EPS: NT$0.21 (up from NT$0.17 in 1Q 2023). Revenue: NT$173.5m (flat on 1Q 2023). Net income: NT$23.4m (up 35% from 1Q 2023). Profit margin: 14% (up from 9.9% in 1Q 2023). Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Announcement • May 01
KENT Industrial Co.,Ltd. to Report Q1, 2024 Results on May 07, 2024 KENT Industrial Co.,Ltd. announced that they will report Q1, 2024 results at 9:00 AM, Taipei Standard Time on May 07, 2024 Announcement • Apr 03
KENT Industrial Co.,Ltd., Annual General Meeting, Jun 18, 2024 KENT Industrial Co.,Ltd., Annual General Meeting, Jun 18, 2024. Reported Earnings • Mar 20
Full year 2023 earnings released: EPS: NT$0.95 (vs NT$1.48 in FY 2022) Full year 2023 results: EPS: NT$0.95 (down from NT$1.48 in FY 2022). Revenue: NT$755.7m (down 16% from FY 2022). Net income: NT$102.0m (down 29% from FY 2022). Profit margin: 14% (down from 16% in FY 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 32% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Buy Or Sell Opportunity • Mar 13
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 7.0% to NT$25.30. The fair value is estimated to be NT$20.52, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 5.6% over the last 3 years. Earnings per share has declined by 38%. Buy Or Sell Opportunity • Jan 23
Now 21% overvalued Over the last 90 days, the stock has fallen 1.9% to NT$23.50. The fair value is estimated to be NT$19.45, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 5.6% over the last 3 years. Earnings per share has declined by 38%. New Risk • Nov 18
New major risk - Revenue and earnings growth Earnings have declined by 3.4% 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 Dividend is not well covered by earnings and cash flows. Payout ratio: 181% Paying a dividend despite having no free cash flows. Earnings have declined by 3.4% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (13% increase in shares outstanding). Market cap is less than US$100m (NT$2.58b market cap, or US$81.1m). Reported Earnings • Aug 15
Second quarter 2023 earnings released: EPS: NT$0.27 (vs NT$0.42 in 2Q 2022) Second quarter 2023 results: EPS: NT$0.27 (down from NT$0.42 in 2Q 2022). Revenue: NT$214.0m (down 13% from 2Q 2022). Net income: NT$29.9m (down 26% from 2Q 2022). Profit margin: 14% (down from 16% in 2Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 42% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. New Risk • Jul 06
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 Dividend is not well covered by earnings and cash flows. Payout ratio: 144% Cash payout ratio: 187% Minor Risks Shareholders have been diluted in the past year (13% increase in shares outstanding). Market cap is less than US$100m (NT$2.99b market cap, or US$95.5m). Upcoming Dividend • Jun 22
Upcoming dividend of NT$2.00 per share at 6.8% yield Eligible shareholders must have bought the stock before 29 June 2023. Payment date: 21 July 2023. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 6.8%. Within top quartile of Taiwanese dividend payers (5.5%). Higher than average of industry peers (3.0%). Board Change • Nov 16
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 5 highly experienced directors. No independent directors (5 non-independent directors). Chairman Lu Dong was the last director to join the board, commencing their role in 2005. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Reported Earnings • Aug 19
First half 2022 earnings released: EPS: NT$0.68 (vs NT$0.68 in 1H 2021) First half 2022 results: EPS: NT$0.68 (up from NT$0.68 in 1H 2021). Revenue: NT$459.9m (up 3.7% from 1H 2021). Net income: NT$66.2m (flat on 1H 2021). Profit margin: 14% (in line with 1H 2021). Buying Opportunity • Jun 16
Now 20% undervalued Over the last 90 days, the stock is up 4.3%. The fair value is estimated to be NT$35.25, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 10% over the last 3 years. Earnings per share has grown by 13%. Upcoming Dividend • Jun 15
Upcoming dividend of NT$2.00 per share Eligible shareholders must have bought the stock before 22 June 2022. Payment date: 15 July 2022. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 7.0%. Within top quartile of Taiwanese dividend payers (6.1%). Higher than average of industry peers (3.2%). Buying Opportunity • May 25
Now 20% undervalued Over the last 90 days, the stock is up 3.3%. The fair value is estimated to be NT$35.16, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 10% over the last 3 years. Earnings per share has grown by 13%. Board Change • Apr 27
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 5 highly experienced directors. No independent directors (5 non-independent directors). Chairman Lu Dong was the last director to join the board, commencing their role in 2005. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Reported Earnings • Apr 20
Full year 2021 earnings released Full year 2021 results: Revenue: NT$874.1m (up 23% from FY 2020). Net income: NT$156.2m (down 59% from FY 2020). Profit margin: 18% (down from 54% in FY 2020). The decrease in margin was driven by higher expenses. Buying Opportunity • Feb 12
Now 20% undervalued Over the last 90 days, the stock is up 2.8%. The fair value is estimated to be NT$34.23, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 20% per annum over the last 3 years. Earnings per share has grown by 32% per annum over the last 3 years. Buying Opportunity • Jan 18
Now 20% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be NT$33.41, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 20% per annum over the last 3 years. Earnings per share has grown by 32% per annum over the last 3 years. Reported Earnings • Aug 18
First half 2021 earnings released: EPS NT$0.68 (vs NT$3.53 in 1H 2020) The company reported a mediocre first half result with weaker earnings and profit margins, although revenues improved. First half 2021 results: Revenue: NT$443.7m (up 40% from 1H 2020). Net income: NT$65.9m (down 81% from 1H 2020). Profit margin: 15% (down from 109% in 1H 2020). Upcoming Dividend • Jul 19
Upcoming dividend of NT$2.00 per share Eligible shareholders must have bought the stock before 26 July 2021. Payment date: 20 August 2021. Trailing yield: 6.8%. Within top quartile of Taiwanese dividend payers (4.9%). Higher than average of industry peers (2.4%). Reported Earnings • Apr 09
Full year 2020 earnings released: EPS NT$3.90 (vs NT$0.77 in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: NT$708.1m (down 3.3% from FY 2019). Net income: NT$380.6m (up 404% from FY 2019). Profit margin: 54% (up from 10% in FY 2019). The increase in margin was driven by lower expenses. Is New 90 Day High Low • Jan 22
New 90-day low: NT$23.25 The company is down 5.0% from its price of NT$24.50 on 23 October 2020. The Taiwanese market is up 23% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Semiconductor industry, which is up 45% over the same period.