Reported Earnings • May 12
First quarter 2026 earnings released: EPS: NT$1.00 (vs NT$1.68 in 1Q 2025) First quarter 2026 results: EPS: NT$1.00 (down from NT$1.68 in 1Q 2025). Revenue: NT$837.0m (up 8.3% from 1Q 2025). Net income: NT$74.5m (down 18% from 1Q 2025). Profit margin: 8.9% (down from 12% 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 32% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. New Risk • Apr 22
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: NT$3.13b (US$99.4m) 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 Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 133% Paying a dividend despite having no free cash flows. Minor Risks Profit margins are more than 30% lower than last year (5.0% net profit margin). Market cap is less than US$100m (NT$3.13b market cap, or US$99.4m). Upcoming Dividend • Apr 09
Upcoming dividend of NT$4.20 per share Eligible shareholders must have bought the stock before 16 April 2026. Payment date: 15 May 2026. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 10%. Within top quartile of Taiwanese dividend payers (5.1%). Higher than average of industry peers (4.9%). Reported Earnings • Mar 18
Full year 2025 earnings released: EPS: NT$3.17 (vs NT$9.84 in FY 2024) Full year 2025 results: EPS: NT$3.17 (down from NT$9.84 in FY 2024). Revenue: NT$3.48b (down 3.5% from FY 2024). Net income: NT$172.7m (down 67% from FY 2024). Profit margin: 5.0% (down from 15% in FY 2024). The decrease in margin was primarily 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 only fallen by 6% per year, which means it has not declined as severely as earnings. Announcement • Mar 16
Bon Fame Co., Ltd., Annual General Meeting, Jun 18, 2026 Bon Fame Co., Ltd., Annual General Meeting, Jun 18, 2026, at 09:00 Taipei Standard Time. Location: 5 floor no,83, chou tzu st., neihu district, taipei city Taiwan Declared Dividend • Mar 16
Dividend reduced to NT$4.20 Dividend of NT$4.20 is 35% lower than last year. Ex-date: 16th April 2026 Payment date: 15th May 2026 Dividend yield will be 6.9%, which is higher than the industry average of 4.3%. Sustainability & Growth Dividend is not covered by earnings (168% earnings payout ratio) nor is it covered by cash flows (dividend approximately 5x free cash flows). The dividend has increased by an average of 6.3% 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 grow by 87% to bring the payout ratio under control, which is more than the 5.3% EPS growth achieved over the last 5 years. Announcement • Mar 14
Bon Fame Co., Ltd. announces Annual dividend, payable on May 15, 2026 Bon Fame Co., Ltd. announced Annual dividend of TWD 4.2000 per share payable on May 15, 2026, ex-date on April 16, 2026 and record date on April 19, 2026. Valuation Update With 7 Day Price Move • Jan 14
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$58.60, the stock trades at a trailing P/E ratio of 15.2x. Average trailing P/E is 19x in the Luxury industry in Taiwan. Total returns to shareholders of 9.4% over the past three years. Reported Earnings • Nov 11
Third quarter 2025 earnings released: EPS: NT$2.02 (vs NT$1.38 in 3Q 2024) Third quarter 2025 results: EPS: NT$2.02 (up from NT$1.38 in 3Q 2024). Revenue: NT$885.5m (down 4.8% from 3Q 2024). Net income: NT$110.0m (up 48% from 3Q 2024). Profit margin: 12% (up from 8.0% in 3Q 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 18% 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. Valuation Update With 7 Day Price Move • Aug 17
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to NT$52.00, the stock trades at a trailing P/E ratio of 16.2x. Average trailing P/E is 17x in the Luxury industry in Taiwan. Total loss to shareholders of 3.8% over the past three years. New Risk • Aug 14
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: NT$2.88b (US$96.2m) 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 Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 202% Dividend per share is over 44x cash flows per share. Minor Risks Profit margins are more than 30% lower than last year (5.0% net profit margin). Market cap is less than US$100m (NT$2.88b market cap, or US$96.2m). Reported Earnings • Aug 13
Second quarter 2025 earnings released: NT$2.98 loss per share (vs NT$2.74 profit in 2Q 2024) Second quarter 2025 results: NT$2.98 loss per share (down from NT$2.74 profit in 2Q 2024). Revenue: NT$776.2m (down 21% from 2Q 2024). Net loss: NT$162.3m (down 211% from profit in 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 7% per year whereas the company’s share price has fallen by 5% per year. Reported Earnings • May 14
First quarter 2025 earnings released: EPS: NT$1.68 (vs NT$2.61 in 1Q 2024) First quarter 2025 results: EPS: NT$1.68 (down from NT$2.61 in 1Q 2024). Revenue: NT$772.9m (up 6.0% from 1Q 2024). Net income: NT$91.0m (down 35% from 1Q 2024). Profit margin: 12% (down from 19% in 1Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 8% per year whereas the company’s share price has increased by 12% per year. Declared Dividend • Apr 11
Dividend increased to NT$6.50 Dividend of NT$6.50 is 9.4% higher than last year. Ex-date: 25th April 2025 Payment date: 27th May 2025 Dividend yield will be 8.5%, which is higher than the industry average of 4.3%. Sustainability & Growth Dividend is covered by both earnings (66% earnings payout ratio) and cash flows (84% cash payout ratio). The dividend has increased by an average of 8.0% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 19% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to NT$75.70, the stock trades at a trailing P/E ratio of 7.7x. Average trailing P/E is 17x in the Luxury industry in Taiwan. Total returns to shareholders of 99% over the past three years. Reported Earnings • Mar 20
Full year 2024 earnings released: EPS: NT$9.84 (vs NT$9.35 in FY 2023) Full year 2024 results: EPS: NT$9.84 (up from NT$9.35 in FY 2023). Revenue: NT$3.61b (up 4.1% from FY 2023). Net income: NT$529.8m (up 8.1% from FY 2023). Profit margin: 15% (in line with FY 2023). Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has increased by 27% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Mar 18
Bon Fame Co., Ltd., Annual General Meeting, Jun 27, 2025 Bon Fame Co., Ltd., Annual General Meeting, Jun 27, 2025, at 09:00 Taipei Standard Time. Location: 5 floor no,83, chou tzu st., neihu district, taipei city Taiwan Reported Earnings • Nov 19
Third quarter 2024 earnings released: EPS: NT$1.38 (vs NT$3.18 in 3Q 2023) Third quarter 2024 results: EPS: NT$1.38 (down from NT$3.18 in 3Q 2023). Revenue: NT$929.8m (up 5.9% from 3Q 2023). Net income: NT$74.6m (down 55% from 3Q 2023). Profit margin: 8.0% (down from 19% in 3Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 24% per year whereas the company’s share price has increased by 26% per year. Reported Earnings • Aug 17
Second quarter 2024 earnings released: EPS: NT$2.74 (vs NT$3.11 in 2Q 2023) Second quarter 2024 results: EPS: NT$2.74 (down from NT$3.11 in 2Q 2023). Revenue: NT$981.5m (up 5.9% from 2Q 2023). Net income: NT$146.0m (down 9.8% from 2Q 2023). Profit margin: 15% (down from 18% in 2Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 33% per year whereas the company’s share price has increased by 32% per year. New Risk • Jun 08
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: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Shareholders have been diluted in the past year (2.5% increase in shares outstanding). Reported Earnings • May 19
First quarter 2024 earnings released: EPS: NT$2.61 (vs NT$1.23 in 1Q 2023) First quarter 2024 results: EPS: NT$2.61 (up from NT$1.23 in 1Q 2023). Revenue: NT$728.9m (up 16% from 1Q 2023). Net income: NT$139.2m (up 117% from 1Q 2023). Profit margin: 19% (up from 10% in 1Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 38% per year whereas the company’s share price has increased by 36% per year. Upcoming Dividend • Apr 12
Upcoming dividend of NT$5.94 per share Eligible shareholders must have bought the stock before 19 April 2024. Payment date: 22 May 2024. Payout ratio is a comfortable 64% and this is well supported by cash flows. Trailing yield: 5.9%. Within top quartile of Taiwanese dividend payers (4.5%). Higher than average of industry peers (3.4%). Reported Earnings • Mar 24
Full year 2023 earnings released: EPS: NT$9.35 (vs NT$9.67 in FY 2022) Full year 2023 results: EPS: NT$9.35 (down from NT$9.67 in FY 2022). Revenue: NT$3.47b (up 10% from FY 2022). Net income: NT$489.9m (down 2.7% from FY 2022). Profit margin: 14% (down from 16% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has only increased by 27% per year, which means it is significantly lagging earnings growth. Announcement • Mar 21
Bon Fame Co., Ltd., Annual General Meeting, Jun 21, 2024 Bon Fame Co., Ltd., Annual General Meeting, Jun 21, 2024. Reported Earnings • Nov 14
Third quarter 2023 earnings released: EPS: NT$3.18 (vs NT$4.20 in 3Q 2022) Third quarter 2023 results: EPS: NT$3.18 (down from NT$4.20 in 3Q 2022). Revenue: NT$878.1m (up 9.0% from 3Q 2022). Net income: NT$167.1m (down 24% from 3Q 2022). Profit margin: 19% (down from 27% in 3Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has only increased by 29% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 12
Second quarter 2023 earnings released: EPS: NT$3.11 (vs NT$2.85 in 2Q 2022) Second quarter 2023 results: EPS: NT$3.11 (up from NT$2.85 in 2Q 2022). Revenue: NT$926.9m (up 3.2% from 2Q 2022). Net income: NT$161.8m (up 9.0% from 2Q 2022). Profit margin: 18% (in line with 2Q 2022). Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has only increased by 32% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jul 20
Upcoming dividend of NT$5.00 per share at 5.9% yield Eligible shareholders must have bought the stock before 27 July 2023. Payment date: 18 August 2023. Payout ratio is a comfortable 54% and this is well supported by cash flows. Trailing yield: 5.9%. Within top quartile of Taiwanese dividend payers (5.5%). Higher than average of industry peers (4.4%). Valuation Update With 7 Day Price Move • Jun 13
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to NT$85.40, the stock trades at a trailing P/E ratio of 9.2x. Average trailing P/E is 20x in the Luxury industry in Taiwan. Total returns to shareholders of 124% over the past three years. Reported Earnings • Mar 28
Full year 2022 earnings released: EPS: NT$9.67 (vs NT$4.00 in FY 2021) Full year 2022 results: EPS: NT$9.67 (up from NT$4.00 in FY 2021). Revenue: NT$3.14b (up 11% from FY 2021). Net income: NT$503.5m (up 141% from FY 2021). Profit margin: 16% (up from 7.4% in FY 2021). Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has only increased by 24% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Mar 13
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to NT$72.40, the stock trades at a trailing P/E ratio of 7x. Average trailing P/E is 15x in the Luxury industry in Taiwan. Total returns to shareholders of 111% 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. 10 experienced directors. No highly experienced directors. 3 independent directors (4 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: EPS: NT$4.20 (vs NT$1.37 in 3Q 2021) Third quarter 2022 results: EPS: NT$4.20 (up from NT$1.37 in 3Q 2021). Revenue: NT$805.8m (up 4.4% from 3Q 2021). Net income: NT$218.8m (up 206% from 3Q 2021). Profit margin: 27% (up from 9.3% in 3Q 2021). The increase in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Oct 13
Investor sentiment deteriorated over the past week After last week's 18% share price decline to NT$46.10, the stock trades at a trailing P/E ratio of 6.2x. Average trailing P/E is 15x in the Luxury industry in Taiwan. Negligible returns to shareholders over past three years. Reported Earnings • Aug 11
Second quarter 2022 earnings released: EPS: NT$2.85 (vs NT$0.26 in 2Q 2021) Second quarter 2022 results: EPS: NT$2.85 (up from NT$0.26 in 2Q 2021). Revenue: NT$898.1m (up 48% from 2Q 2021). Net income: NT$148.4m (up NT$134.8m from 2Q 2021). Profit margin: 17% (up from 2.2% in 2Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has increased by 6% per year. Valuation Update With 7 Day Price Move • Jul 21
Investor sentiment improved over the past week After last week's 16% share price gain to NT$62.40, the stock trades at a trailing P/E ratio of 12.8x. Average trailing P/E is 12x in the Luxury industry in Taiwan. Total returns to shareholders of 23% over the past three years. Upcoming Dividend • Jul 05
Upcoming dividend of NT$2.50 per share Eligible shareholders must have bought the stock before 12 July 2022. Payment date: 02 August 2022. Payout ratio is a comfortable 51% and this is well supported by cash flows. Trailing yield: 4.9%. Lower than top quartile of Taiwanese dividend payers (6.7%). Higher than average of industry peers (4.0%). Reported Earnings • May 14
First quarter 2022 earnings released: EPS: NT$1.63 (vs NT$0.75 in 1Q 2021) First quarter 2022 results: EPS: NT$1.63 (up from NT$0.75 in 1Q 2021). Revenue: NT$683.1m (up 30% from 1Q 2021). Net income: NT$85.0m (up 118% from 1Q 2021). Profit margin: 12% (up from 7.4% 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 16% 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. 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. 10 experienced directors. No highly experienced directors. 3 independent directors (4 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 31
Full year 2021 earnings released: EPS: NT$4.00 (vs NT$3.35 in FY 2020) Full year 2021 results: EPS: NT$4.00 (up from NT$3.35 in FY 2020). Revenue: NT$2.82b (up 24% from FY 2020). Net income: NT$208.6m (up 20% from FY 2020). Profit margin: 7.4% (down from 7.7% in FY 2020). 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 only fallen by 8% per year, which means it has not declined as severely as earnings. Reported Earnings • Nov 16
Third quarter 2021 earnings released: EPS NT$1.37 (vs NT$0.88 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$772.1m (up 31% from 3Q 2020). Net income: NT$71.6m (up 56% from 3Q 2020). Profit margin: 9.3% (up from 7.8% 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 28% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Reported Earnings • Aug 18
Second quarter 2021 earnings released: EPS NT$0.26 (vs NT$0.63 in 2Q 2020) The company reported a soft second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2021 results: Revenue: NT$608.6m (up 28% from 2Q 2020). Net income: NT$13.5m (down 59% from 2Q 2020). Profit margin: 2.2% (down from 6.8% 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 28% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Aug 03
Upcoming dividend of NT$2.00 per share Eligible shareholders must have bought the stock before 10 August 2021. Payment date: 31 August 2021. Trailing yield: 4.5%. Lower than top quartile of Taiwanese dividend payers (5.0%). Higher than average of industry peers (2.4%). Reported Earnings • May 15
First quarter 2021 earnings released: EPS NT$0.75 (vs NT$0.78 in 1Q 2020) The company reported a soft first quarter result with weaker earnings and profit margins, although revenues improved. First quarter 2021 results: Revenue: NT$527.0m (up 12% from 1Q 2020). Net income: NT$38.9m (down 3.6% from 1Q 2020). Profit margin: 7.4% (down from 8.6% in 1Q 2020). 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 only fallen by 16% per year, which means it has not declined as severely as earnings. Reported Earnings • Mar 31
Full year 2020 earnings released: EPS NT$3.35 (vs NT$4.13 in FY 2019) The company reported a soft full year result with weaker earnings and revenues, although profit margins were improved. Full year 2020 results: Revenue: NT$2.27b (down 21% from FY 2019). Net income: NT$174.5m (down 19% from FY 2019). Profit margin: 7.7% (up from 7.5% in FY 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has only fallen by 15% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Nov 20
New 90-day high: NT$40.80 The company is up 5.0% from its price of NT$38.80 on 21 August 2020. The Taiwanese market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Luxury industry, which is up 6.0% over the same period. Reported Earnings • Nov 15
Third quarter 2020 earnings released: EPS NT$0.88 The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2020 results: Revenue: NT$589.0m (down 23% from 3Q 2019). Net income: NT$46.0m (down 26% from 3Q 2019). Profit margin: 7.8% (down from 8.1% in 3Q 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 21% per year whereas the company’s share price has fallen by 19% per year.