Upcoming Dividend • May 21
Upcoming dividend of NT$1.00 per share Eligible shareholders must have bought the stock before 28 May 2026. Payment date: 25 June 2026. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 5.4%. Within top quartile of Taiwanese dividend payers (5.1%). Higher than average of industry peers (2.9%). Reported Earnings • May 14
First quarter 2026 earnings released: EPS: NT$0.10 (vs NT$0.11 in 1Q 2025) First quarter 2026 results: EPS: NT$0.10 (down from NT$0.11 in 1Q 2025). Revenue: NT$89.1m (up 28% from 1Q 2025). Net income: NT$6.23m (down 7.5% from 1Q 2025). Profit margin: 7.0% (down from 9.7% in 1Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 83 percentage points per year, which is a significant difference in performance. Reported Earnings • Feb 15
Full year 2025 earnings released: EPS: NT$0.29 (vs NT$0.19 in FY 2024) Full year 2025 results: EPS: NT$0.29 (up from NT$0.19 in FY 2024). Revenue: NT$379.8m (up 20% from FY 2024). Net income: NT$17.3m (up 55% from FY 2024). Profit margin: 4.6% (up from 3.5% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 78 percentage points per year, which is a significant difference in performance. Announcement • Feb 11
WINSON Machinery Co., LTD., Annual General Meeting, May 12, 2026 WINSON Machinery Co., LTD., Annual General Meeting, May 12, 2026, at 10:00 Taipei Standard Time. Location: 2 floor no,23, lu kung nan 6th rd., lugang township, changhua county Taiwan Reported Earnings • Nov 12
Third quarter 2025 earnings released: EPS: NT$0.09 (vs NT$0.35 in 3Q 2024) Third quarter 2025 results: EPS: NT$0.09 (down from NT$0.35 in 3Q 2024). Revenue: NT$102.3m (up 2.7% from 3Q 2024). Net income: NT$5.60m (down 72% from 3Q 2024). Profit margin: 5.5% (down from 20% in 3Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 67 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 13
Second quarter 2025 earnings released: EPS: NT$0.01 (vs NT$0.011 in 2Q 2024) Second quarter 2025 results: EPS: NT$0.01 (down from NT$0.011 in 2Q 2024). Revenue: NT$106.4m (up 42% from 2Q 2024). Net income: NT$72.0k (down 88% from 2Q 2024). Profit margin: 0.1% (down from 0.8% in 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 51% 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. Upcoming Dividend • Jun 06
Upcoming dividend of NT$0.40 per share Eligible shareholders must have bought the stock before 13 June 2025. Payment date: 16 July 2025. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 2.2%. Lower than top quartile of Taiwanese dividend payers (5.2%). Lower than average of industry peers (3.3%). Reported Earnings • May 18
First quarter 2025 earnings released: EPS: NT$0.11 (vs NT$0.13 in 1Q 2024) First quarter 2025 results: EPS: NT$0.11 (down from NT$0.13 in 1Q 2024). Revenue: NT$69.6m (flat on 1Q 2024). Net income: NT$6.73m (down 9.4% from 1Q 2024). Profit margin: 9.7% (down from 11% in 1Q 2024). Over the last 3 years on average, earnings per share has fallen by 33% 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. New Risk • Mar 12
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 29% 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 Dividend is not well covered by earnings (208% payout ratio). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (3.5% net profit margin). Market cap is less than US$100m (NT$1.07b market cap, or US$32.5m). Reported Earnings • Mar 03
Full year 2024 earnings released: EPS: NT$0.19 (vs NT$1.12 in FY 2023) Full year 2024 results: EPS: NT$0.19 (down from NT$1.12 in FY 2023). Revenue: NT$315.3m (down 28% from FY 2023). Net income: NT$11.2m (down 82% from FY 2023). Profit margin: 3.5% (down from 14% in FY 2023). The decrease in margin was driven by lower 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 4% per year, which means it has not declined as severely as earnings. Announcement • Feb 21
WINSON Machinery Co., LTD., Annual General Meeting, May 13, 2025 WINSON Machinery Co., LTD., Annual General Meeting, May 13, 2025. Location: 2 floor no,23, lu kung nan 6th rd., lugang township, changhua county Taiwan New Risk • Dec 01
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.1% 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: 101% Cash payout ratio: 226% Minor Risks Shareholders have been diluted in the past year (2.1% increase in shares outstanding). Market cap is less than US$100m (NT$1.18b market cap, or US$36.4m). Reported Earnings • Nov 18
Third quarter 2024 earnings released: EPS: NT$0.35 (vs NT$0.011 in 3Q 2023) Third quarter 2024 results: EPS: NT$0.35 (up from NT$0.011 in 3Q 2023). Revenue: NT$99.5m (up 3.7% from 3Q 2023). Net income: NT$20.2m (up NT$19.5m from 3Q 2023). Profit margin: 20% (up from 0.7% in 3Q 2023). The increase in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has remained flat and the company’s share price has also remained flat. Reported Earnings • Aug 17
Second quarter 2024 earnings released: EPS: NT$0.01 (vs NT$0.23 in 2Q 2023) Second quarter 2024 results: EPS: NT$0.01 (down from NT$0.23 in 2Q 2023). Revenue: NT$74.7m (down 31% from 2Q 2023). Net income: NT$606.0k (down 95% from 2Q 2023). Profit margin: 0.8% (down from 11% 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 10% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jun 18
Upcoming dividend of NT$0.80 per share Eligible shareholders must have bought the stock before 25 June 2024. Payment date: 26 July 2024. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 3.8%. Lower than top quartile of Taiwanese dividend payers (4.2%). In line with average of industry peers (3.7%). Reported Earnings • May 19
First quarter 2024 earnings released: EPS: NT$0.13 (vs NT$0.59 in 1Q 2023) First quarter 2024 results: EPS: NT$0.13 (down from NT$0.59 in 1Q 2023). Revenue: NT$69.7m (down 52% from 1Q 2023). Net income: NT$7.43m (down 76% from 1Q 2023). Profit margin: 11% (down from 21% 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 26% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. New Risk • Mar 07
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 5.9% 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: Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (5.9% average weekly change). Shareholders have been diluted in the past year (10% increase in shares outstanding). Market cap is less than US$100m (NT$1.23b market cap, or US$38.9m). Valuation Update With 7 Day Price Move • Mar 07
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to NT$23.25, the stock trades at a trailing P/E ratio of 21.8x. Average trailing P/E is 17x in the Metals and Mining industry in Taiwan. Total returns to shareholders of 39% over the past three years. Reported Earnings • Mar 03
Full year 2023 earnings released: EPS: NT$1.12 (vs NT$1.53 in FY 2022) Full year 2023 results: EPS: NT$1.12 (down from NT$1.53 in FY 2022). Revenue: NT$434.7m (down 28% from FY 2022). Net income: NT$61.3m (down 24% from FY 2022). Profit margin: 14% (in line with FY 2022). Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Announcement • Feb 22
WINSON Machinery Co., LTD., Annual General Meeting, May 10, 2024 WINSON Machinery Co., LTD., Annual General Meeting, May 10, 2024. Reported Earnings • Nov 10
Third quarter 2023 earnings released: EPS: NT$0.01 (vs NT$0.54 in 3Q 2022) Third quarter 2023 results: EPS: NT$0.01 (down from NT$0.54 in 3Q 2022). Revenue: NT$96.0m (down 45% from 3Q 2022). Net income: NT$643.0k (down 98% from 3Q 2022). Profit margin: 0.7% (down from 16% in 3Q 2022). 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 5% per year, which means it is significantly lagging earnings growth. New Risk • Aug 26
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 7.5% 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: Major Risk Share price has been highly volatile over the past 3 months (8.3% average weekly change). 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 (7.5% increase in shares outstanding). Market cap is less than US$100m (NT$1.08b market cap, or US$33.9m). Reported Earnings • Aug 10
Second quarter 2023 earnings released: EPS: NT$0.24 (vs NT$0.41 in 2Q 2022) Second quarter 2023 results: EPS: NT$0.24 (down from NT$0.41 in 2Q 2022). Revenue: NT$108.2m (down 25% from 2Q 2022). Net income: NT$12.2m (down 41% from 2Q 2022). Profit margin: 11% (down from 14% in 2Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 52% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Aug 08
Upcoming dividend of NT$0.55 per share at 2.6% yield Eligible shareholders must have bought the stock before 15 August 2023. Payment date: 13 October 2023. Payout ratio is a comfortable 28% and this is well supported by cash flows. Trailing yield: 2.6%. Lower than top quartile of Taiwanese dividend payers (5.4%). Lower than average of industry peers (3.8%). Valuation Update With 7 Day Price Move • Jul 12
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to NT$22.30, the stock trades at a trailing P/E ratio of 10.6x. Average trailing P/E is 19x in the Metals and Mining industry in Taiwan. Total returns to shareholders of 68% over the past three years. New Risk • Jun 20
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 6.3% 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 Risk Earnings have declined by 2.3% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.3% average weekly change). Market cap is less than US$100m (NT$1.35b market cap, or US$43.7m). Valuation Update With 7 Day Price Move • Jun 15
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to NT$26.75, the stock trades at a trailing P/E ratio of 12.7x. Average trailing P/E is 18x in the Metals and Mining industry in Taiwan. Total returns to shareholders of 105% 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. 9 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 06
Third quarter 2022 earnings released: EPS: NT$0.56 (vs NT$0.24 in 3Q 2021) Third quarter 2022 results: EPS: NT$0.56 (up from NT$0.24 in 3Q 2021). Revenue: NT$175.5m (up 58% from 3Q 2021). Net income: NT$28.3m (up 133% from 3Q 2021). Profit margin: 16% (up from 11% in 3Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 5% per year whereas the company’s share price has increased by 8% per year. Reported Earnings • Aug 07
Second quarter 2022 earnings released: EPS: NT$0.41 (vs NT$0.15 in 2Q 2021) Second quarter 2022 results: EPS: NT$0.41 (up from NT$0.15 in 2Q 2021). Revenue: NT$144.3m (up 28% from 2Q 2021). Net income: NT$20.6m (up 171% from 2Q 2021). Profit margin: 14% (up from 6.7% in 2Q 2021). The increase in margin was driven by higher revenue. 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 5% per year, which means it is well ahead of earnings. Upcoming Dividend • Jun 07
Upcoming dividend of NT$0.50 per share Eligible shareholders must have bought the stock before 14 June 2022. Payment date: 15 July 2022. Payout ratio is a comfortable 72% but the company is not cash flow positive. Trailing yield: 2.5%. Lower than top quartile of Taiwanese dividend payers (6.0%). Lower than average of industry peers (7.4%). Reported Earnings • May 09
First quarter 2022 earnings released: EPS: NT$0.09 (vs NT$0.16 in 1Q 2021) First quarter 2022 results: EPS: NT$0.09 (down from NT$0.16 in 1Q 2021). Revenue: NT$140.4m (up 37% from 1Q 2021). Net income: NT$4.63m (down 43% from 1Q 2021). Profit margin: 3.3% (down from 7.9% in 1Q 2021). 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 increased by 4% per year, which means it is well ahead of earnings. Board Change • Apr 28
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. 9 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 09
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: NT$0.76 (up from NT$0.49 in FY 2020). Revenue: NT$462.6m (up 53% from FY 2020). Net income: NT$38.6m (up 57% from FY 2020). Profit margin: 8.3% (up from 8.1% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 40% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Reported Earnings • Nov 08
Third quarter 2021 earnings released: EPS NT$0.24 (vs NT$0.013 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$111.4m (up 73% from 3Q 2020). Net income: NT$12.2m (up NT$11.5m from 3Q 2020). Profit margin: 11% (up from 1.0% 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 44% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Reported Earnings • Aug 09
Second quarter 2021 earnings released: EPS NT$0.15 (vs NT$0.14 in 2Q 2020) The company reported a solid second quarter result with improved earnings and revenues, although profit margins were weaker. Second quarter 2021 results: Revenue: NT$112.8m (up 51% from 2Q 2020). Net income: NT$7.60m (up 11% from 2Q 2020). Profit margin: 6.7% (down from 9.2% 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 44% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Jul 26
Upcoming dividend of NT$0.80 per share Eligible shareholders must have bought the stock before 02 August 2021. Payment date: 25 August 2021. Trailing yield: 4.1%. Lower than top quartile of Taiwanese dividend payers (4.9%). Higher than average of industry peers (1.5%). Reported Earnings • Mar 23
Full year 2020 earnings released: EPS NT$0.49 (vs NT$0.92 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$302.9m (down 30% from FY 2019). Net income: NT$24.5m (down 47% from FY 2019). Profit margin: 8.1% (down from 11% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Feb 18
New 90-day high: NT$17.60 The company is up 14% from its price of NT$15.40 on 20 November 2020. The Taiwanese market is up 18% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Metals and Mining industry, which is up 9.0% over the same period. Is New 90 Day High Low • Dec 23
New 90-day high: NT$16.05 The company is up 6.0% from its price of NT$15.15 on 25 September 2020. The Taiwanese market is up 12% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 21% over the same period. Is New 90 Day High Low • Nov 14
New 90-day high: NT$15.90 The company is up 9.0% from its price of NT$14.60 on 14 August 2020. The Taiwanese market is up 3.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Metals and Mining industry, which is up 10.0% over the same period. Reported Earnings • Oct 29
Third quarter earnings released Over the last 12 months the company has reported total profits of NT$22.3m, down 61% from the prior year. Total revenue was NT$304.5m over the last 12 months, down 40% from the prior year.