Upcoming Dividend • Jun 04
Upcoming dividend of NT$0.50 per share Eligible shareholders must have bought the stock before 11 June 2026. Payment date: 15 July 2026. Payout ratio is on the higher end at 75%, however this is supported by cash flows. Trailing yield: 2.7%. Lower than top quartile of Taiwanese dividend payers (4.8%). In line with average of industry peers (2.7%). Reported Earnings • May 11
First quarter 2026 earnings released: EPS: NT$0.61 (vs NT$0.30 in 1Q 2025) First quarter 2026 results: EPS: NT$0.61 (up from NT$0.30 in 1Q 2025). Revenue: NT$2.64b (down 1.4% from 1Q 2025). Net income: NT$168.5m (up 104% from 1Q 2025). Profit margin: 6.4% (up from 3.1% in 1Q 2025). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 7% per year and the company’s share price has also fallen by 7% per year. Announcement • Mar 11
Froch Enterprise Co., Ltd., Annual General Meeting, May 27, 2026 Froch Enterprise Co., Ltd., Annual General Meeting, May 27, 2026, at 09:00 Taipei Standard Time. Location: no,7, tou kung 10th rd., douliou city, yunlin county Taiwan Reported Earnings • Mar 11
Full year 2025 earnings released: EPS: NT$0.35 (vs NT$0.84 in FY 2024) Full year 2025 results: EPS: NT$0.35 (down from NT$0.84 in FY 2024). Revenue: NT$10.1b (down 18% from FY 2024). Net income: NT$97.0m (down 59% from FY 2024). Profit margin: 1.0% (down from 1.9% in FY 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 43% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings. Reported Earnings • Nov 08
Third quarter 2025 earnings released: EPS: NT$0.07 (vs NT$0.36 in 3Q 2024) Third quarter 2025 results: EPS: NT$0.07 (down from NT$0.36 in 3Q 2024). Revenue: NT$2.48b (down 21% from 3Q 2024). Net income: NT$20.5m (down 80% from 3Q 2024). Profit margin: 0.8% (down from 3.2% in 3Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 55 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 08
Second quarter 2025 earnings released: NT$0.25 loss per share (vs NT$0.41 profit in 2Q 2024) Second quarter 2025 results: NT$0.25 loss per share (down from NT$0.41 profit in 2Q 2024). Revenue: NT$2.53b (down 26% from 2Q 2024). Net loss: NT$67.8m (down 158% from profit in 2Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 66 percentage points per year, which is a significant difference in performance. Board Change • Jul 01
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. 5 experienced directors. 3 highly experienced directors. Independent Director Huei-Kuei Chen was the last director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Declared Dividend • Jun 18
Dividend increased to NT$0.71 Dividend of NT$0.71 is 42% higher than last year. Ex-date: 1st July 2025 Payment date: 1st August 2025 Dividend yield will be 4.7%, which is higher than the industry average of 3.9%. Sustainability & Growth Dividend is covered by both earnings (56% earnings payout ratio) and cash flows (56% cash payout ratio). The dividend has increased by an average of 3.9% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 14% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • May 09
First quarter 2025 earnings released: EPS: NT$0.30 (vs NT$0.11 loss in 1Q 2024) First quarter 2025 results: EPS: NT$0.30 (up from NT$0.11 loss in 1Q 2024). Revenue: NT$2.67b (down 6.9% from 1Q 2024). Net income: NT$82.5m (up NT$114.6m from 1Q 2024). Profit margin: 3.1% (up from net loss in 1Q 2024). 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 69 percentage points per year, which is a significant difference in performance. Announcement • Apr 29
Froch Enterprise Co., Ltd. to Report Q1, 2025 Results on May 08, 2025 Froch Enterprise Co., Ltd. announced that they will report Q1, 2025 results on May 08, 2025 Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to NT$14.70, the stock trades at a trailing P/E ratio of 17.3x. Average trailing P/E is 19x in the Metals and Mining industry in Taiwan. Total loss to shareholders of 54% over the past three years. Announcement • Mar 14
Froch Enterprise Co., Ltd., Annual General Meeting, Jun 16, 2025 Froch Enterprise Co., Ltd., Annual General Meeting, Jun 16, 2025, at 09:00 Taipei Standard Time. Location: no,7, kung shih rd., douliou city, yunlin county Taiwan Reported Earnings • Mar 14
Full year 2024 earnings released: EPS: NT$0.84 (vs NT$0.18 in FY 2023) Full year 2024 results: EPS: NT$0.84 (up from NT$0.18 in FY 2023). Revenue: NT$12.4b (down 3.6% from FY 2023). Net income: NT$235.8m (up 363% from FY 2023). Profit margin: 1.9% (up from 0.4% in FY 2023). The increase in margin 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 73 percentage points per year, which is a significant difference in performance. Reported Earnings • Nov 09
Third quarter 2024 earnings released: EPS: NT$0.36 (vs NT$0.048 in 3Q 2023) Third quarter 2024 results: EPS: NT$0.36 (up from NT$0.048 in 3Q 2023). Revenue: NT$3.12b (down 1.3% from 3Q 2023). Net income: NT$101.3m (up NT$87.8m from 3Q 2023). Profit margin: 3.2% (up from 0.4% in 3Q 2023). The increase in margin 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 66 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 08
Second quarter 2024 earnings released: EPS: NT$0.41 (vs NT$0.36 loss in 2Q 2023) Second quarter 2024 results: EPS: NT$0.41 (up from NT$0.36 loss in 2Q 2023). Revenue: NT$3.41b (down 1.6% from 2Q 2023). Net income: NT$116.0m (up NT$217.7m from 2Q 2023). Profit margin: 3.4% (up from net loss in 2Q 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 44 percentage points per year, which is a significant difference in performance. Announcement • Jul 30
Froch Enterprise Co., Ltd. to Report Q2, 2024 Results on Aug 07, 2024 Froch Enterprise Co., Ltd. announced that they will report Q2, 2024 results on Aug 07, 2024 Reported Earnings • Jun 29
First quarter 2024 earnings released: NT$0.11 loss per share (vs NT$0.53 profit in 1Q 2023) First quarter 2024 results: NT$0.11 loss per share (down from NT$0.53 profit in 1Q 2023). Revenue: NT$2.87b (down 11% from 1Q 2023). Net loss: NT$32.1m (down 121% from profit in 1Q 2023). Over the last 3 years on average, earnings per share has fallen by 47% per year but the company’s share price has only fallen by 22% per year, which means it has not declined as severely as earnings. Declared Dividend • Jun 14
Dividend reduced to NT$0.50 Dividend of NT$0.50 is 67% lower than last year. Ex-date: 4th July 2024 Payment date: 2nd August 2024 Dividend yield will be 2.8%, which is lower than the industry average of 3.9%. Sustainability & Growth Dividend is not covered by earnings (275% earnings payout ratio). However, it is covered by cash flows (81% cash payout ratio). The dividend has increased over the past 9 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 206% to bring the payout ratio under control. However, EPS has declined by 38% over the last 5 years so the company would need to reverse this trend. Announcement • Jun 14
Froch Enterprise Co., Ltd. Approves Cash Dividend, Payable on August 2, 2024 Froch Enterprise Co., Ltd. at its AGM held on June 12, 2024 approved cash dividends of TWD 0.50 per share. Total amount of cash dividends is TWD 140,263,014. Ex-rights (ex-dividend) record date: July 10, 2024. Payment date of cash dividend distribution: August 2, 2024. Ex-rights (ex-dividend) trading date is July 4, 2024. Announcement • May 01
Froch Enterprise Co., Ltd. to Report Q1, 2024 Results on May 09, 2024 Froch Enterprise Co., Ltd. announced that they will report Q1, 2024 results on May 09, 2024 Announcement • Mar 15
Froch Enterprise Co., Ltd., Annual General Meeting, Jun 12, 2024 Froch Enterprise Co., Ltd., Annual General Meeting, Jun 12, 2024. Reported Earnings • Mar 14
Full year 2023 earnings released: EPS: NT$0.18 (vs NT$2.64 in FY 2022) Full year 2023 results: EPS: NT$0.18 (down from NT$2.64 in FY 2022). Revenue: NT$12.9b (down 21% from FY 2022). Net income: NT$51.0m (down 93% from FY 2022). Profit margin: 0.4% (down from 4.6% in FY 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has increased by 12% per year, which means it is well ahead of earnings. New Risk • Aug 10
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 2.3x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.3x net interest cover). Minor Risks Dividend is not well covered by earnings (dividend per share is over 5x earnings per share). Profit margins are more than 30% lower than last year (0.6% net profit margin). Reported Earnings • Aug 10
Second quarter 2023 earnings released: NT$0.36 loss per share (vs NT$1.29 profit in 2Q 2022) Second quarter 2023 results: NT$0.36 loss per share (down from NT$1.29 profit in 2Q 2022). Revenue: NT$3.46b (down 23% from 2Q 2022). Net loss: NT$101.7m (down 128% from profit in 2Q 2022). Revenue is forecast to stay flat during the next 2 years compared to a 4.8% growth forecast for the Metals and Mining industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has only increased by 26% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jun 28
Upcoming dividend of NT$1.50 per share at 6.5% yield Eligible shareholders must have bought the stock before 05 July 2023. Payment date: 02 August 2023. Payout ratio is on the higher end at 78%, however this is supported by cash flows. Trailing yield: 6.5%. Within top quartile of Taiwanese dividend payers (5.5%). Higher than average of industry peers (3.8%). Announcement • Jun 16
Froch Enterprise Co., Ltd. Announces Cash Dividends for the Year Ended December 31, 2022, Payable on August 2, 2023 The board of directors Froch Enterprise Co., Ltd. at its AGM held on June 15, 2023 announced appropriations of earnings in cash dividends of TWD 1.50 per share for the year 2022. Total amount of cash distributed to shareholders is TWD 420,789,041. Ex-rights (ex-dividend) record date: July 11, 2023. Payment date of cash dividend distribution: August 2, 2023. Reported Earnings • Mar 15
Full year 2022 earnings released: EPS: NT$2.64 (vs NT$4.29 in FY 2021) Full year 2022 results: EPS: NT$2.64 (down from NT$4.29 in FY 2021). Revenue: NT$16.2b (up 6.6% from FY 2021). Net income: NT$741.2m (down 39% from FY 2021). Profit margin: 4.6% (down from 7.9% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 68% per year but the company’s share price has only increased by 36% per year, which means it is significantly lagging earnings growth. Price Target Changed • Nov 16
Price target increased to NT$26.00 Up from NT$18.00, the current price target is provided by 1 analyst. New target price is 14% above last closing price of NT$22.80. Stock is down 23% over the past year. The company posted earnings per share of NT$4.29 last year. Reported Earnings • Nov 07
Third quarter 2022 earnings released: EPS: NT$0.02 (vs NT$1.30 in 3Q 2021) Third quarter 2022 results: EPS: NT$0.02 (down from NT$1.30 in 3Q 2021). Revenue: NT$4.08b (up 3.2% from 3Q 2021). Net income: NT$5.22m (down 99% from 3Q 2021). Profit margin: 0.1% (down from 9.2% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to stay flat during the next 2 years compared to a 3.9% decline forecast for the Metals and Mining industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 78% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Aug 16
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 15%. The fair value is estimated to be NT$31.92, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 78%. Reported Earnings • Aug 05
Second quarter 2022 earnings released: EPS: NT$1.29 (vs NT$0.99 in 2Q 2021) Second quarter 2022 results: EPS: NT$1.29 (up from NT$0.99 in 2Q 2021). Revenue: NT$4.47b (up 19% from 2Q 2021). Net income: NT$362.4m (up 30% from 2Q 2021). Profit margin: 8.1% (up from 7.4% in 2Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 1.4% while the industry in Taiwan is not expected to grow. Over the last 3 years on average, earnings per share has increased by 78% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jul 14
Upcoming dividend of NT$2.00 per share Eligible shareholders must have bought the stock before 21 July 2022. Payment date: 17 August 2022. Payout ratio is a comfortable 39% but the company is not cash flow positive. Trailing yield: 8.8%. Within top quartile of Taiwanese dividend payers (6.8%). In line with average of industry peers (9.1%). Buying Opportunity • Jun 16
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 19%. The fair value is estimated to be NT$33.40, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.0% over the last 3 years. Earnings per share has grown by 63%. Reported Earnings • May 07
First quarter 2022 earnings released: EPS: NT$1.25 (vs NT$0.45 in 1Q 2021) First quarter 2022 results: EPS: NT$1.25 (up from NT$0.45 in 1Q 2021). Revenue: NT$4.45b (up 49% from 1Q 2021). Net income: NT$349.3m (up 180% from 1Q 2021). Profit margin: 7.9% (up from 4.2% in 1Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 63% per year but the company’s share price has only increased by 35% per year, which means it is significantly lagging earnings growth. Board Change • Apr 27
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 Ying-Fang Lee was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Apr 12
Investor sentiment improved over the past week After last week's 16% share price gain to NT$38.70, the stock trades at a trailing P/E ratio of 9x. Average trailing P/E is 11x in the Metals and Mining industry in Taiwan. Total returns to shareholders of 216% over the past three years. Reported Earnings • Mar 19
Full year 2021 earnings: EPS in line with expectations, revenues disappoint Full year 2021 results: EPS: NT$4.29 (up from NT$0.38 in FY 2020). Revenue: NT$15.2b (up 44% from FY 2020). Net income: NT$1.20b (up NT$1.10b from FY 2020). Profit margin: 7.9% (up from 1.0% in FY 2020). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 21%. Over the next year, revenue is expected to shrink by 8.8% compared to a 8.5% growth forecast for the mining industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 35% per year whereas the company’s share price has increased by 32% per year. Reported Earnings • Nov 05
Third quarter 2021 earnings released: EPS NT$1.30 (vs NT$0.23 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$3.96b (up 43% from 3Q 2020). Net income: NT$364.3m (up 462% from 3Q 2020). Profit margin: 9.2% (up from 2.3% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has increased by 32% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Aug 27
Upcoming dividend of NT$0.50 per share Eligible shareholders must have bought the stock before 03 September 2021. Payment date: 29 September 2021. Trailing yield: 1.4%. Lower than top quartile of Taiwanese dividend payers (5.2%). Lower than average of industry peers (1.6%). Valuation Update With 7 Day Price Move • Aug 19
Investor sentiment deteriorated over the past week After last week's 17% share price decline to NT$32.00, the stock trades at a trailing P/E ratio of 15.7x. Average forward P/E is 10x in the Metals and Mining industry in Taiwan. Total returns to shareholders of 140% over the past three years. Reported Earnings • Aug 04
Second quarter 2021 earnings released: EPS NT$0.99 (vs NT$0.037 loss in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: NT$3.75b (up 43% from 2Q 2020). Net income: NT$278.0m (up NT$288.6m from 2Q 2020). Profit margin: 7.4% (up from net loss in 2Q 2020). The move to profitability was driven by higher revenue. 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 43% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Jul 20
Investor sentiment improved over the past week After last week's 37% share price gain to NT$49.00, the stock trades at a trailing P/E ratio of 48.7x. Average trailing P/E is 32x in the Metals and Mining industry in Taiwan. Total returns to shareholders of 290% over the past three years. Valuation Update With 7 Day Price Move • Jun 26
Investor sentiment improved over the past week After last week's 23% share price gain to NT$28.15, the stock trades at a trailing P/E ratio of 28x. Average trailing P/E is 24x in the Metals and Mining industry in Taiwan. Total returns to shareholders of 117% over the past three years. Valuation Update With 7 Day Price Move • Jun 01
Investor sentiment improved over the past week After last week's 16% share price gain to NT$20.80, the stock trades at a trailing P/E ratio of 20.7x. Average trailing P/E is 21x in the Metals and Mining industry in Taiwan. Total returns to shareholders of 54% over the past three years. Valuation Update With 7 Day Price Move • May 11
Investor sentiment improved over the past week After last week's 29% share price gain to NT$22.60, the stock trades at a trailing P/E ratio of 22.2x. Average forward P/E is 15x in the Metals and Mining industry in Taiwan. Total returns to shareholders of 74% over the past three years. Valuation Update With 7 Day Price Move • Apr 12
Investor sentiment improved over the past week After last week's 20% share price gain to NT$16.10, the stock trades at a trailing P/E ratio of 42x. Average forward P/E is 14x in the Metals and Mining industry in Taiwan. Total returns to shareholders of 24% over the past three years. Reported Earnings • Mar 24
Full year 2020 earnings released: EPS NT$0.38 (vs NT$0.94 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$10.6b (down 12% from FY 2019). Net income: NT$108.4m (down 60% from FY 2019). Profit margin: 1.0% (down from 2.2% 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 54% 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. Valuation Update With 7 Day Price Move • Feb 23
Investor sentiment improved over the past week After last week's 19% share price gain to NT$14.45, the stock is trading at a trailing P/E ratio of 61.2x, up from the previous P/E ratio of 51.2x. This compares to an average P/E of 25x in the Metals and Mining industry in Taiwan. Total returns to shareholders over the past three years are 4.6%. Is New 90 Day High Low • Dec 14
New 90-day high: NT$13.60 The company is up 28% from its price of NT$10.65 on 15 September 2020. The Taiwanese market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 14% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is NT$6.13 per share. Is New 90 Day High Low • Nov 27
New 90-day high: NT$11.35 The company is up 9.0% from its price of NT$10.40 on 28 August 2020. The Taiwanese market is up 8.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Metals and Mining industry, which is up 15% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is NT$5.84 per share. Reported Earnings • Nov 04
Third quarter 2020 earnings released: EPS NT$0.22 The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2020 results: Revenue: NT$2.76b (down 14% from 3Q 2019). Net income: NT$64.8m (down 38% from 3Q 2019). Profit margin: 2.3% (down from 3.3% 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 47% 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.