New Risk • 47m
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: NT$3.19b (US$100.0m) 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 Debt is not well covered by operating cash flow (currently running at an operating cash loss). Dividend is not well covered by earnings and cash flows. Payout ratio: 126% Paying a dividend despite having no free cash flows. Earnings have declined by 81% per year over the past 5 years. Minor Risk Market cap is less than US$100m (NT$3.19b market cap, or US$100.0m). Upcoming Dividend • Jun 23
Upcoming dividend of NT$0.50 per share Eligible shareholders must have bought the stock before 30 June 2026. Payment date: 20 July 2026. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 2.5%. Lower than top quartile of Taiwanese dividend payers (4.9%). Lower than average of industry peers (4.3%). Reported Earnings • May 19
First quarter 2026 earnings released: EPS: NT$0.25 (vs NT$0.49 loss in 1Q 2025) First quarter 2026 results: EPS: NT$0.25 (up from NT$0.49 loss in 1Q 2025). Revenue: NT$1.64b (down 12% from 1Q 2025). Net income: NT$41.6m (up NT$119.3m from 1Q 2025). Profit margin: 2.5% (up from net loss in 1Q 2025). Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has only fallen by 20% per year, which means it has not declined as severely as earnings. Reported Earnings • Mar 31
Full year 2025 earnings released: NT$3.35 loss per share (vs NT$0.46 profit in FY 2024) Full year 2025 results: NT$3.35 loss per share (down from NT$0.46 profit in FY 2024). Revenue: NT$6.12b (down 15% from FY 2024). Net loss: NT$561.4m (down NT$633.4m from profit in FY 2024). Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has fallen by 24% per year, which means it is performing significantly worse than earnings. Announcement • Mar 11
Dyaco International Inc., Annual General Meeting, May 25, 2026 Dyaco International Inc., Annual General Meeting, May 25, 2026, at 09:00 Taipei Standard Time. Location: no,1, kung i rd., hemei township, changhua county Taiwan Reported Earnings • Aug 15
Second quarter 2025 earnings released: NT$1.10 loss per share (vs NT$0.67 loss in 2Q 2024) Second quarter 2025 results: NT$1.10 loss per share (further deteriorated from NT$0.67 loss in 2Q 2024). Revenue: NT$1.30b (down 13% from 2Q 2024). Net loss: NT$190.4m (loss widened 79% from 2Q 2024). 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 18% per year, which means it is significantly lagging earnings. New Risk • Jun 19
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 8.8% 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: Major Risks Debt is not well covered by operating cash flow (11% operating cash flow to total debt). Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Cash payout ratio: 92% Earnings have declined by 60% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (8.8% average weekly change). Upcoming Dividend • May 26
Upcoming dividend of NT$0.50 per share Eligible shareholders must have bought the stock before 02 June 2025. Payment date: 24 June 2025. The company is not currently making a profit and there are not enough cash flows to support it either. Trailing yield: 2.4%. Lower than top quartile of Taiwanese dividend payers (5.2%). Lower than average of industry peers (3.6%). Reported Earnings • May 17
First quarter 2025 earnings released: NT$0.49 loss per share (vs NT$0.21 profit in 1Q 2024) First quarter 2025 results: NT$0.49 loss per share (down from NT$0.21 profit in 1Q 2024). Revenue: NT$1.86b (up 5.7% from 1Q 2024). Net loss: NT$77.7m (down 337% from profit in 1Q 2024). Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has only fallen by 18% per year, which means it has not declined as severely as earnings. Announcement • May 06
Dyaco International Inc. to Report Q1, 2025 Results on May 13, 2025 Dyaco International Inc. announced that they will report Q1, 2025 results on May 13, 2025 New Risk • Apr 11
New minor risk - Dividend sustainability The dividend is not well covered by earnings. Payout ratio: 118% Dividend yield: 2.5% This is considered a minor risk. Companies that pay out too much of their earnings are at risk of having to reduce or cut their dividend in future. If earnings growth slows or earnings fall, then there may not be enough earnings 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. However, this risk is mitigated by the fact the dividend is covered by cash flows. 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 Interest payments are not well covered by earnings (0.4x net interest cover). Earnings have declined by 53% per year over the past 5 years. Minor Risks Dividend is not well covered by earnings (118% payout ratio). Large one-off items impacting financial results. New Risk • Apr 09
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: NT$3.14b (US$95.4m) 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 Risks Interest payments are not well covered by earnings (0.4x net interest cover). Earnings have declined by 53% per year over the past 5 years. Minor Risk Market cap is less than US$100m (NT$3.14b market cap, or US$95.4m). Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to NT$22.05, the stock trades at a trailing P/E ratio of 48.5x. Average trailing P/E is 15x in the Leisure industry in Taiwan. Total loss to shareholders of 42% over the past three years. Reported Earnings • Apr 02
Full year 2024 earnings released: EPS: NT$0.45 (vs NT$0.84 loss in FY 2023) Full year 2024 results: EPS: NT$0.45 (up from NT$0.84 loss in FY 2023). Revenue: NT$7.22b (down 7.3% from FY 2023). Net income: NT$72.0m (up NT$194.7m from FY 2023). Profit margin: 1.0% (up from net loss in FY 2023). The move to profitability was driven by lower expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 60 percentage points per year, which is a significant difference in performance. Announcement • Mar 14
Dyaco International Inc., Annual General Meeting, May 28, 2025 Dyaco International Inc., Annual General Meeting, May 28, 2025, at 09:00 Taipei Standard Time. Location: no,1, kung i rd., hemei township, changhua county Taiwan Announcement • Mar 13
Dyaco International Inc. Announces Cash Dividend for the Year Ended December 31, 2024 Dyaco International Inc. announced cash dividends to shareholders of TWD 0.5369649 per share for the year ended December 31, 2024. Total amount of cash distributed to shareholders: TWD 87,158,046. Date of the board of directors resolution: March 12, 2025. Announcement • Mar 05
Dyaco International Inc. to Report Q4, 2024 Results on Mar 12, 2025 Dyaco International Inc. announced that they will report Q4, 2024 results on Mar 12, 2025 Reported Earnings • Nov 18
Third quarter 2024 earnings released: NT$0.84 loss per share (vs NT$0.16 profit in 3Q 2023) Third quarter 2024 results: NT$0.84 loss per share (down from NT$0.16 profit in 3Q 2023). Revenue: NT$1.59b (down 4.7% from 3Q 2023). Net loss: NT$132.1m (down NT$157.0m from profit in 3Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 104 percentage points per year, which is a significant difference in performance. Announcement • Nov 13
Dyaco International Inc. has filed a Follow-on Equity Offering. Dyaco International Inc. has filed a Follow-on Equity Offering.
Security Name: Shares
Security Type: Common Stock
Securities Offered: 2,400,000
Security Name: Shares
Security Type: Common Stock
Securities Offered: 9,600,000 Announcement • Nov 06
Dyaco International Inc. to Report Q3, 2024 Results on Nov 12, 2024 Dyaco International Inc. announced that they will report Q3, 2024 results on Nov 12, 2024 New Risk • Oct 01
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 5.7% 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 Risks Debt is not well covered by operating cash flow (14% operating cash flow to total debt). Earnings have declined by 38% per year over the past 5 years. Minor Risk Shareholders have been diluted in the past year (5.7% increase in shares outstanding). Reported Earnings • Aug 17
Second quarter 2024 earnings released: NT$0.70 loss per share (vs NT$0.27 loss in 2Q 2023) Second quarter 2024 results: NT$0.70 loss per share (further deteriorated from NT$0.27 loss in 2Q 2023). Revenue: NT$1.50b (flat on 2Q 2023). Net loss: NT$106.2m (loss widened 186% from 2Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 111 percentage points per year, which is a significant difference in performance. Announcement • Aug 06
Dyaco International Inc. to Report Q2, 2024 Results on Aug 13, 2024 Dyaco International Inc. announced that they will report Q2, 2024 results on Aug 13, 2024 Buy Or Sell Opportunity • Jul 15
Now 20% undervalued Over the last 90 days, the stock has risen 5.4% to NT$32.00. The fair value is estimated to be NT$40.15, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 30% over the last 3 years. Meanwhile, the company has become profitable. Buy Or Sell Opportunity • Jul 01
Now 20% undervalued Over the last 90 days, the stock has risen 3.1% to NT$31.60. The fair value is estimated to be NT$39.48, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 30% over the last 3 years. Meanwhile, the company has become profitable. Buy Or Sell Opportunity • Jun 24
Now 20% undervalued Over the last 90 days, the stock has risen 1.3% to NT$31.60. The fair value is estimated to be NT$39.68, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 30% over the last 3 years. Meanwhile, the company has become profitable. Buy Or Sell Opportunity • Jun 11
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 1.1% to NT$30.80. The fair value is estimated to be NT$39.21, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 30% over the last 3 years. Meanwhile, the company has become profitable. Reported Earnings • May 18
First quarter 2024 earnings released: EPS: NT$0.22 (vs NT$0.90 loss in 1Q 2023) First quarter 2024 results: EPS: NT$0.22 (up from NT$0.90 loss in 1Q 2023). Revenue: NT$1.76b (down 21% from 1Q 2023). Net income: NT$32.7m (up NT$145.3m from 1Q 2023). Profit margin: 1.9% (up from net loss in 1Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 104 percentage points per year, which is a significant difference in performance. Announcement • May 05
Dyaco International Inc. to Report Q1, 2024 Results on May 13, 2024 Dyaco International Inc. announced that they will report Q1, 2024 results on May 13, 2024 Announcement • Mar 14
Dyaco International Inc., Annual General Meeting, May 27, 2024 Dyaco International Inc., Annual General Meeting, May 27, 2024. Announcement • Dec 29
Dyaco International Inc. Appoints of PING-I Ting as CSO Dyaco International Inc. announced the appointment of PING-I Ting as CSO. Effective date is December 27, 2023. Board Change • Dec 01
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Chairman of the Board Yu-Yin Lin was the last director to join the board, commencing their role in 2023. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. New Risk • Nov 24
New major risk - Revenue and earnings growth Earnings have declined by 12% 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 Debt is not well covered by operating cash flow (10% operating cash flow to total debt). Earnings have declined by 12% per year over the past 5 years. Minor Risk Shareholders have been diluted in the past year (21% increase in shares outstanding). Announcement • Nov 15
Dyaco International Inc. Announces Executive Changes Dyaco International Inc. announced changes of Chairman of the Board and correction of resume . Name of previous position holder: Lin, Ing-Gin, CHUAN-FENG INVESTMENT CORPORATION Representative. Resume of previous position holder: Chairman of Dyaco International Inc. . Name of new position holder: CHUAN-FENG INVESTMENT CORPORATION Representative: Lin, Yu-Yin. Resume of the new position holder: General Manager and Director of Dyaco Canada. Effective Date is November 10, 2023. Reason for the change: Replacement of representative. Announcement • Nov 12
Dyaco International Inc. Announces Changes to Corporate Sustainability Committee Dyaco International Inc. announced changes to Corporate Sustainability Committee Members from Lin, Ing-Gin to Lin, Yu-Yin, CHUAN-FENG INVESTMENT CORPORATION Representative. Resume of the previous position holder: Chairman of CHUAN-FENG INVESTMENT CORPORATION and Founder of Dyaco International CORPORATION. Resume of the new position holder: Chairman of CHUAN-FENG INVESTMENT CORPORATION and Executive Assistant of Dyaco Canada. Effective date of the new member: November 10, 2023~May 25, 2026. Announcement • Nov 11
Dyaco International Inc. Announces Change of Chairman of Board Dyaco International Inc. announced change of Chairman of the Board from Lin, Ing-Gin to Lin, Yu-Yin, CHUAN-FENG INVESTMENT CORPORATION Representative. Resume of the new position holder:Executive Assistant of Dyaco Canada. Effective Date is November 10, 2023. Announcement • Oct 20
Dyaco International Inc. Announces Change in Representative of Institutional Director Dyaco International Inc. announced the change in representative of the Company's institutional director. Name of the previous position holder: Lam, Yuk, Resume of the previous position holder: Executive Assistant of Da Wu Jiang International Co.,Ltd. Name of the new position holder: Chiu Shih-Chien, Resume of the new position holder: Vice Chairman of Hwa Fong Rubber Ind. Co., Ltd, Vice Chairman of Mediera Corporation, Consultant of Jui Li Enterprise Co.,Ltd, Consultant of Jian Sin Industrial Co.,Ltd. Effective date of the new appointment: October 19, 2023 to May 25, 2026. Reported Earnings • Aug 16
Second quarter 2023 earnings released: NT$0.29 loss per share (vs NT$0.49 loss in 2Q 2022) Second quarter 2023 results: NT$0.29 loss per share (improved from NT$0.49 loss in 2Q 2022). Revenue: NT$1.50b (up 8.6% from 2Q 2022). Net loss: NT$37.1m (loss narrowed 40% from 2Q 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 49 percentage points per year, which is a significant difference in performance. Announcement • Jul 16
Dyaco International Inc. announced that it has received TWD 250 million in funding On July 14, 2023, Dyaco International Inc. closed the transaction. New Risk • Jun 21
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 18% 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 Debt is not well covered by operating cash flow (12% operating cash flow to total debt). Minor Risk Shareholders have been diluted in the past year (18% increase in shares outstanding). Upcoming Dividend • May 19
Upcoming dividend of NT$0.50 per share at 1.2% yield Eligible shareholders must have bought the stock before 26 May 2023. Payment date: 13 June 2023. The company is not currently making a profit and there are not enough cash flows to support it either. Trailing yield: 1.2%. Lower than top quartile of Taiwanese dividend payers (5.7%). Lower than average of industry peers (4.7%). Announcement • May 04
Dyaco International Inc. Announces Dividend Distribution, Payable on June 13, 2023 Dyaco International Inc. announced dividend distribution of TWD 62,813,377. Ex-rights (ex-dividend) trading date is May 26, 2023. Ex-rights (ex-dividend) record date is June 03, 2023. Payment date of cash dividend distribution is June 13, 2023. Buying Opportunity • Mar 16
Now 20% undervalued Over the last 90 days, the stock is up 6.1%. The fair value is estimated to be NT$57.62, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • Nov 18
Third quarter 2022 earnings released: EPS: NT$0.61 (vs NT$0.87 in 3Q 2021) Third quarter 2022 results: EPS: NT$0.61 (down from NT$0.87 in 3Q 2021). Revenue: NT$1.39b (down 43% from 3Q 2021). Net income: NT$76.7m (down 31% from 3Q 2021). Profit margin: 5.5% (up from 4.5% in 3Q 2021). Over the last 3 years on average, earnings per share has fallen by 9% 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 • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Chih-Cheng Wang was the last independent director to join the board, commencing their role in 2017. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 16
Second quarter 2022 earnings released: NT$0.49 loss per share (vs NT$0.40 profit in 2Q 2021) Second quarter 2022 results: NT$0.49 loss per share (down from NT$0.40 profit in 2Q 2021). Revenue: NT$1.38b (down 50% from 2Q 2021). Net loss: NT$61.7m (down 221% from profit in 2Q 2021). Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Announcement • Aug 13
Dyaco International Inc. Announces Establishment of Nominating Committee Dyaco International Inc. announced establishment of Nominating Committee. Name of the new position holder: Chairman: Lin, Ing-Gin, Independent Director: Wang, Chih-Cheng, Independent Director: Hsieh, Chang-Hung, and Independent Director:Wang, Kai-Li. Effective date of the new member is August 12, 2022. Upcoming Dividend • Jun 20
Upcoming dividend of NT$2.51 per share Eligible shareholders must have bought the stock before 27 June 2022. Payment date: 29 July 2022. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 6.4%. Within top quartile of Taiwanese dividend payers (6.2%). Higher than average of industry peers (4.3%). Board Change • Jun 04
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Chih-Cheng Wang was the last independent director to join the board, commencing their role in 2017. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Jun 01
Dyaco International Inc. Announces Cash Dividend, Payable on July 29, 2022 Dyaco International Inc. announced cash dividend of TWD 317,501,885. Ex-rights (ex-dividend) trading date is June 27, 2022. Ex-rights (ex-dividend) record date is July 3, 2022. The Cash dividends will be paid on July 29, 2022. Announcement • May 28
Dyaco International Inc. Appoints Li, Bo-Yi as Institutional Director Dyaco International Inc. announced approval of by-election of the 11th Director by shareholders' meeting. Title and name of the new position holder: Wanshida Construction Co. Ltd. Representative: Li, Bo-Yi. Resume of the new position holder: Vice President, Wanshida Construction Co. Ltd. Effective date of the new appointment: 27 May 2022. Elected or changed position: Institutional director. Reported Earnings • May 16
First quarter 2022 earnings released: NT$0.34 loss per share (vs NT$2.10 profit in 1Q 2021) First quarter 2022 results: NT$0.34 loss per share (down from NT$2.10 profit in 1Q 2021). Revenue: NT$2.26b (down 41% from 1Q 2021). Net loss: NT$43.7m (down 117% from profit in 1Q 2021). Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Board Change • Apr 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 6 highly experienced directors. Independent Director Chih-Cheng Wang was the last director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Reported Earnings • Apr 02
Full year 2021 earnings released: EPS: NT$3.48 (vs NT$11.69 in FY 2020) Full year 2021 results: EPS: NT$3.48 (down from NT$11.69 in FY 2020). Revenue: NT$11.7b (down 11% from FY 2020). Net income: NT$440.8m (down 67% from FY 2020). Profit margin: 3.8% (down from 10% in FY 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 57% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Announcement • Apr 01
Dyaco International Inc. Proposes Dividend for the Year Ended December 31, 2021 The Board of Directors of Dyaco International Inc. proposed cash dividend of TWD 2.5 per share for the year ended December 31, 2021. Total amount of cash distributed to shareholders is TWD 317,501,885. Reported Earnings • Nov 15
Third quarter 2021 earnings released: EPS NT$0.87 (vs NT$3.74 in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$2.44b (down 32% from 3Q 2020). Net income: NT$110.7m (down 74% from 3Q 2020). Profit margin: 4.5% (down from 12% in 3Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 79% per year but the company’s share price has only increased by 32% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 13
Second quarter 2021 earnings released: EPS NT$0.40 (vs NT$1.78 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$2.77b (up 11% from 2Q 2020). Net income: NT$50.9m (down 73% from 2Q 2020). Profit margin: 1.8% (down from 7.5% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 94% per year but the company’s share price has only increased by 29% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jun 18
Upcoming dividend of NT$7.47 per share Eligible shareholders must have bought the stock before 25 June 2021. Payment date: 30 July 2021. Trailing yield: 7.3%. Within top quartile of Taiwanese dividend payers (5.0%). Higher than average of industry peers (2.8%). Announcement • May 29
Dyaco International Inc. Announces Cash Dividend, Payable on July 30, 2021 Dyaco International Inc. announced cash dividend of TWD 953,026,905, payable on July 30, 2021. Ex-rights (ex-dividend) record date is July 3, 2021. Valuation Update With 7 Day Price Move • May 12
Investor sentiment deteriorated over the past week After last week's 15% share price decline to NT$83.10, the stock trades at a trailing P/E ratio of 7.1x. Average forward P/E is 15x in the Leisure industry in Taiwan. Total returns to shareholders of 135% over the past three years. Reported Earnings • Mar 31
Full year 2020 earnings released: EPS NT$11.69 (vs NT$2.05 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$13.1b (up 124% from FY 2019). Net income: NT$1.32b (up NT$1.13b from FY 2019). Profit margin: 10% (up from 3.2% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 108% per year but the company’s share price has only increased by 46% per year, which means it is significantly lagging earnings growth. Announcement • Mar 05
Dyaco International Inc., Annual General Meeting, May 28, 2021 Dyaco International Inc., Annual General Meeting, May 28, 2021. Location: No.1, Gong 1st Rd. Changhua Country Taiwan Agenda: To report the business of 2020; to report the Audit Committee's Review Report of 2020; to report 2020 employees profit sharing bonus and directors compensation; to report the proposal for distribution of 2020 earnings (including cash dividends); to Implementation status report of the Company's treasury shares; to consider Status report of domestic 2nd secured convertible bonds; and to consider any other matters. Is New 90 Day High Low • Jan 18
New 90-day low: NT$109 The company is down 14% from its price of NT$127 on 20 October 2020. The Taiwanese market is up 20% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Leisure industry, which is up 4.0% over the same period. Announcement • Dec 26
Dyaco International Inc. Appoints James Hsu as Ceo. Effective Date Is January 1, 2021 Dyaco International Inc. announced the appointment of James Hsu/Executive consultant of the company as CEO. Effective date is January 1, 2021. Is New 90 Day High Low • Dec 15
New 90-day low: NT$111 The company is down 12% from its price of NT$127 on 16 September 2020. The Taiwanese market is up 10.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Leisure industry, which is up 1.0% over the same period. Reported Earnings • Nov 14
Third quarter 2020 earnings released: EPS NT$3.74 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: NT$3.58b (up 178% from 3Q 2019). Net income: NT$424.5m (up NT$357.1m from 3Q 2019). Profit margin: 12% (up from 5.2% in 3Q 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 97% per year but the company’s share price has only increased by 53% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Nov 09
Market bids up stock over the past week After last week's 22% share price gain to NT$160, the stock is trading at a trailing P/E ratio of 47.5x, up from the previous P/E ratio of 38.9x. This compares to an average P/E of 23x in the Leisure industry in Taiwan. Total returns to shareholders over the past three years are 344%. Is New 90 Day High Low • Nov 04
New 90-day high: NT$147 The company is up 72% from its price of NT$85.40 on 06 August 2020. The Taiwanese market is down 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Leisure industry, which is down 1.0% over the same period. 