Announcement • Mar 09
Globe Industries Corporation, Annual General Meeting, Jun 11, 2026 Globe Industries Corporation, Annual General Meeting, Jun 11, 2026. Location: no,8, you i rd., yangmei district, taoyuan city Taiwan Reported Earnings • Nov 12
Third quarter 2025 earnings released: NT$0.13 loss per share (vs NT$0.028 loss in 3Q 2024) Third quarter 2025 results: NT$0.13 loss per share (further deteriorated from NT$0.028 loss in 3Q 2024). Revenue: NT$175.5m (down 3.8% from 3Q 2024). Net loss: NT$9.93m (loss widened 379% from 3Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 68 percentage points per year, which is a significant difference in performance. New Risk • Sep 26
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. The company is paying a dividend despite being loss-making. The company is paying a dividend despite having no free cash flows. Dividend yield: 1.8% 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. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Earnings have declined by 1.3% per year over the past 5 years. Minor Risk Market cap is less than US$100m (NT$837.6m market cap, or US$27.4m). Upcoming Dividend • Aug 21
Upcoming dividend of NT$0.20 per share Eligible shareholders must have bought the stock before 28 August 2025. Payment date: 24 September 2025. The company is not currently making a profit and is not cash flow positive. Trailing yield: 1.9%. Lower than top quartile of Taiwanese dividend payers (5.4%). Lower than average of industry peers (4.5%). Reported Earnings • Aug 13
Second quarter 2025 earnings released: NT$0.45 loss per share (vs NT$0.015 profit in 2Q 2024) Second quarter 2025 results: NT$0.45 loss per share (down from NT$0.015 profit in 2Q 2024). Revenue: NT$192.0m (down 6.6% from 2Q 2024). Net loss: NT$34.2m (down NT$35.4m from profit in 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Declared Dividend • Aug 07
Dividend of NT$0.20 announced Dividend of NT$0.20 is the same as last year. Ex-date: 28th August 2025 Payment date: 24th September 2025 Dividend yield will be 1.8%, which is lower than the industry average of 4.0%. Sustainability & Growth Dividend is not covered by earnings (dividend approximately 17x earnings) and the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 1,892% to bring the payout ratio under control. However, EPS has declined by 44% over the last 5 years so the company would need to reverse this trend. Reported Earnings • May 14
First quarter 2025 earnings released: NT$0.08 loss per share (vs NT$0.003 profit in 1Q 2024) First quarter 2025 results: NT$0.08 loss per share (down from NT$0.003 profit in 1Q 2024). Revenue: NT$184.8m (down 7.2% from 1Q 2024). Net loss: NT$5.75m (down NT$5.99m from profit in 1Q 2024). Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Announcement • Apr 29
Globe Industries Corporation to Report Q1, 2025 Results on May 06, 2025 Globe Industries Corporation announced that they will report Q1, 2025 results on May 06, 2025 New Risk • Mar 30
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 1,082% 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: Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.9% net profit margin). Market cap is less than US$100m (NT$905.2m market cap, or US$27.2m). Reported Earnings • Mar 19
Full year 2024 earnings released: EPS: NT$0.09 (vs NT$0.53 in FY 2023) Full year 2024 results: EPS: NT$0.09 (down from NT$0.53 in FY 2023). Revenue: NT$795.2m (down 14% from FY 2023). Net income: NT$6.83m (down 83% from FY 2023). Profit margin: 0.9% (down from 4.3% in FY 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 49% 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 27
Globe Industries Corporation to Report Fiscal Year 2024 Results on Mar 06, 2025 Globe Industries Corporation announced that they will report fiscal year 2024 results on Mar 06, 2025 Reported Earnings • Nov 19
Third quarter 2024 earnings released: NT$0.03 loss per share (vs NT$0.24 profit in 3Q 2023) Third quarter 2024 results: NT$0.03 loss per share (down from NT$0.24 profit in 3Q 2023). Revenue: NT$182.5m (down 23% from 3Q 2023). Net loss: NT$2.07m (down 112% from profit in 3Q 2023). Over the last 3 years on average, earnings per share has increased by 75% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Announcement • Nov 05
Globe Industries Corporation to Report Q3, 2024 Results on Nov 12, 2024 Globe Industries Corporation announced that they will report Q3, 2024 results on Nov 12, 2024 Reported Earnings • Aug 17
Second quarter 2024 earnings released: EPS: NT$0.02 (vs NT$0.12 in 2Q 2023) Second quarter 2024 results: EPS: NT$0.02 (down from NT$0.12 in 2Q 2023). Revenue: NT$205.6m (down 11% from 2Q 2023). Net income: NT$1.14m (down 87% from 2Q 2023). Profit margin: 0.6% (down from 3.9% in 2Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 93% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Declared Dividend • Aug 10
Dividend of NT$0.20 announced Dividend of NT$0.20 is the same as last year. Ex-date: 26th August 2024 Payment date: 20th September 2024 Dividend yield will be 1.5%, which is lower than the industry average of 4.0%. Sustainability & Growth Dividend is well covered by both earnings (46% earnings payout ratio) and cash flows (47% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. Earnings per share has grown by 63% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Aug 01
Globe Industries Corporation to Report Q2, 2024 Results on Aug 08, 2024 Globe Industries Corporation announced that they will report Q2, 2024 results on Aug 08, 2024 Reported Earnings • May 19
First quarter 2024 earnings released First quarter 2024 results: Revenue: NT$199.2m (down 14% from 1Q 2023). Net income: NT$245.0k (down 96% from 1Q 2023). Profit margin: 0.1% (down from 2.9% in 1Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 115% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Announcement • May 02
Globe Industries Corporation to Report Q1, 2024 Results on May 08, 2024 Globe Industries Corporation announced that they will report Q1, 2024 results at 9:00 AM, Taipei Standard Time on May 08, 2024 Reported Earnings • Mar 20
Full year 2023 earnings released: EPS: NT$0.53 (vs NT$0.064 in FY 2022) Full year 2023 results: EPS: NT$0.53 (up from NT$0.064 in FY 2022). Revenue: NT$921.4m (down 6.3% from FY 2022). Net income: NT$39.5m (up NT$34.7m from FY 2022). Profit margin: 4.3% (up from 0.5% in FY 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 83% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 15
Third quarter 2023 earnings released: EPS: NT$0.24 (vs NT$0.013 loss in 3Q 2022) Third quarter 2023 results: EPS: NT$0.24 (up from NT$0.013 loss in 3Q 2022). Revenue: NT$237.0m (up 6.6% from 3Q 2022). Net income: NT$18.0m (up NT$19.0m from 3Q 2022). Profit margin: 7.6% (up from net loss in 3Q 2022). The move to profitability was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 51% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Oct 10
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to NT$16.05, the stock trades at a trailing P/E ratio of 50.1x. Average trailing P/E is 25x in the Commercial Services industry in Taiwan. Total returns to shareholders of 73% over the past three years. Valuation Update With 7 Day Price Move • Sep 23
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to NT$14.65, the stock trades at a trailing P/E ratio of 45.7x. Average trailing P/E is 25x in the Commercial Services industry in Taiwan. Total returns to shareholders of 61% over the past three years. Valuation Update With 7 Day Price Move • Sep 08
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$13.45, the stock trades at a trailing P/E ratio of 42x. Average trailing P/E is 25x in the Commercial Services industry in Taiwan. Total returns to shareholders of 44% over the past three years. Upcoming Dividend • Aug 18
Upcoming dividend of NT$0.20 per share at 1.7% yield Eligible shareholders must have bought the stock before 25 August 2023. Payment date: 22 September 2023. Payout ratio is a comfortable 63% and the cash payout ratio is 95%. Trailing yield: 1.7%. Lower than top quartile of Taiwanese dividend payers (5.6%). Lower than average of industry peers (4.5%). Reported Earnings • Aug 13
Second quarter 2023 earnings released: EPS: NT$0.12 (vs NT$0.018 loss in 2Q 2022) Second quarter 2023 results: EPS: NT$0.12 (up from NT$0.018 loss in 2Q 2022). Revenue: NT$229.9m (down 12% from 2Q 2022). Net income: NT$8.91m (up NT$10.2m from 2Q 2022). Profit margin: 3.9% (up from net loss in 2Q 2022). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has increased by 4% per year. Announcement • Aug 10
Globe Industries Corporation Approves Cash Dividend, Payable on September 22, 2023 Globe Industries Corporation approved cash dividend of TWD 15,024,376 (TWD 0.2 per share) of common stock. Ex-rights (ex-dividend) trading date: August 25, 2023. Ex-rights (ex-dividend) record date: September 2, 2023. Payment date of cash dividend distribution: September 22, 2023. Date of the resolution by the board of directors or shareholders meeting or decision by the Company: August 9, 2023. Reported Earnings • Mar 29
Full year 2022 earnings released: EPS: NT$0.06 (vs NT$0.01 in FY 2021) Full year 2022 results: EPS: NT$0.06 (up from NT$0.01 in FY 2021). Revenue: NT$983.0m (down 8.4% from FY 2021). Net income: NT$4.80m (up NT$4.17m from FY 2021). Profit margin: 0.5% (up from 0.1% in FY 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 60% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings. Reported Earnings • Nov 16
Third quarter 2022 earnings released: NT$0.01 loss per share (vs NT$0.047 loss in 3Q 2021) Third quarter 2022 results: NT$0.01 loss per share (improved from NT$0.047 loss in 3Q 2021). Revenue: NT$222.4m (down 20% from 3Q 2021). Net loss: NT$972.0k (loss narrowed 72% from 3Q 2021). Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. 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. 8 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 13
Third quarter 2022 earnings released: NT$0.01 loss per share (vs NT$0.047 loss in 3Q 2021) Third quarter 2022 results: NT$0.01 loss per share (improved from NT$0.047 loss in 3Q 2021). Revenue: NT$222.4m (down 20% from 3Q 2021). Net loss: NT$972.0k (loss narrowed 72% from 3Q 2021). Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Reported Earnings • Aug 16
Second quarter 2022 earnings released: NT$0.02 loss per share (vs NT$0.001 loss in 2Q 2021) Second quarter 2022 results: NT$0.02 loss per share (down from NT$0.001 loss in 2Q 2021). Revenue: NT$260.7m (down 2.3% from 2Q 2021). Net loss: NT$1.34m (loss widened NT$1.29m from 2Q 2021). Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Upcoming Dividend • Aug 12
Upcoming dividend of NT$0.20 per share Eligible shareholders must have bought the stock before 19 August 2022. Payment date: 22 September 2022. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 1.8%. Lower than top quartile of Taiwanese dividend payers (6.6%). Lower than average of industry peers (5.0%). Reported Earnings • May 16
First quarter 2022 earnings released: NT$0.03 loss per share (vs NT$0.041 loss in 1Q 2021) First quarter 2022 results: NT$0.03 loss per share (up from NT$0.041 loss in 1Q 2021). Revenue: NT$256.0m (up 1.6% from 1Q 2021). Net loss: NT$2.31m (loss narrowed 25% from 1Q 2021). Over the last 3 years on average, earnings per share has fallen by 2% per year whereas the company’s share price has fallen by 3% per year. 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. 8 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 12
Third quarter 2021 earnings released: NT$0.05 loss per share (vs NT$0.053 profit in 3Q 2020) The company reported a soft third quarter result with weaker earnings and weaker control over costs, although revenues improved. Third quarter 2021 results: Revenue: NT$276.8m (up 6.1% from 3Q 2020). Net loss: NT$3.51m (down 188% from profit in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Aug 10
Upcoming dividend of NT$0.30 per share Eligible shareholders must have bought the stock before 17 August 2021. Payment date: 15 September 2021. Trailing yield: 2.7%. Lower than top quartile of Taiwanese dividend payers (5.0%). Lower than average of industry peers (4.8%). Reported Earnings • May 16
First quarter 2021 earnings released: NT$0.04 loss per share (vs NT$0.11 profit in 1Q 2020) The company reported a poor first quarter result with weaker earnings, revenues and control over costs. First quarter 2021 results: Revenue: NT$251.9m (down 11% from 1Q 2020). Net loss: NT$3.06m (down 137% from profit in 1Q 2020). Over the last 3 years on average, earnings per share has increased by 96% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Apr 13
Investor sentiment improved over the past week After last week's 22% share price gain to NT$12.90, the stock trades at a trailing P/E ratio of 59.2x. Average trailing P/E is 22x in the Commercial Services industry in Taiwan. Total returns to shareholders of 8.6% over the past three years. Reported Earnings • Mar 31
Full year 2020 earnings released: EPS NT$0.22 (vs NT$0.043 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$1.06b (down 7.1% from FY 2019). Net income: NT$16.4m (up 412% from FY 2019). Profit margin: 1.5% (up from 0.3% in FY 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Announcement • Mar 20
Globe Industries Corporation, Annual General Meeting, Jun 11, 2021 Globe Industries Corporation, Annual General Meeting, Jun 11, 2021. Is New 90 Day High Low • Dec 22
New 90-day high: NT$10.45 The company is up 8.0% from its price of NT$9.70 on 23 September 2020. The Taiwanese market is up 13% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Commercial Services industry, which is up 2.0% over the same period. Is New 90 Day High Low • Nov 25
New 90-day high: NT$10.35 The company is up 3.0% from its price of NT$10.05 on 27 August 2020. The Taiwanese market is up 7.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Commercial Services industry, which is down 1.0% over the same period. Reported Earnings • Nov 13
Third quarter 2020 earnings released: EPS NT$0.05 The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2020 results: Revenue: NT$261.0m (down 4.3% from 3Q 2019). Net income: NT$3.99m (up NT$6.27m from 3Q 2019). Profit margin: 1.5% (up from net loss in 3Q 2019). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 57% 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.