Upcoming Dividend • Jul 09
Upcoming dividend of NT$1.00 per share Eligible shareholders must have bought the stock before 16 July 2026. Payment date: 13 August 2026. The company is not currently making a profit and is not cash flow positive. Trailing yield: 4.9%. Within top quartile of Taiwanese dividend payers (4.9%). Higher than average of industry peers (2.6%). Declared Dividend • Jun 18
Dividend of NT$1.00 announced Dividend of NT$1.00 is the same as last year. Ex-date: 16th July 2026 Payment date: 13th August 2026 Dividend yield will be 4.8%, which is higher than the industry average of 3.9%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months and having no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased over the past 10 years. However, payments have been volatile during that time. Price Target Changed • May 17
Price target decreased by 12% to NT$22.00 Down from NT$24.90, the current price target is provided by 1 analyst. New target price is 11% above last closing price of NT$19.85. Stock is down 16% over the past year. The company posted earnings per share of NT$0.21 last year. Reported Earnings • Mar 13
Full year 2025 earnings released: EPS: NT$0.21 (vs NT$0.22 loss in FY 2024) Full year 2025 results: EPS: NT$0.21 (up from NT$0.22 loss in FY 2024). Revenue: NT$12.5b (down 14% from FY 2024). Net income: NT$107.6m (up NT$211.1m from FY 2024). Profit margin: 0.9% (up from net loss in FY 2024). The move to profitability was driven by lower expenses. Revenue is forecast to stay flat during the next 2 years compared to a 5.3% growth forecast for the Metals and Mining industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. Announcement • Mar 12
YC Inox Co.,Ltd, Annual General Meeting, Jun 16, 2026 YC Inox Co.,Ltd, Annual General Meeting, Jun 16, 2026, at 09:00 Taipei Standard Time. Location: no,270, sec.4 chung shan rd., sijhou township, changhua county Taiwan Reported Earnings • Nov 09
Third quarter 2025 earnings released: EPS: NT$0.40 (vs NT$0.006 in 3Q 2024) Third quarter 2025 results: EPS: NT$0.40 (up from NT$0.006 in 3Q 2024). Revenue: NT$2.96b (down 22% from 3Q 2024). Net income: NT$210.9m (up NT$208.1m from 3Q 2024). Profit margin: 7.1% (up from 0.1% in 3Q 2024). Revenue is forecast to grow 7.4% p.a. on average during the next 2 years, compared to a 6.2% growth forecast for the Metals and Mining industry in Taiwan. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 82 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 10
Second quarter 2025 earnings released: NT$0.58 loss per share (vs NT$0.063 profit in 2Q 2024) Second quarter 2025 results: NT$0.58 loss per share (down from NT$0.063 profit in 2Q 2024). Revenue: NT$3.33b (down 6.0% from 2Q 2024). Net loss: NT$302.2m (down NT$331.8m from profit in 2Q 2024). Revenue is forecast to grow 2.8% p.a. on average during the next 2 years, compared to a 3.3% growth forecast for the Metals and Mining industry in Taiwan. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 102 percentage points per year, which is a significant difference in performance. Upcoming Dividend • Jul 08
Upcoming dividend of NT$1.00 per share Eligible shareholders must have bought the stock before 15 July 2025. Payment date: 11 August 2025. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 4.6%. Lower than top quartile of Taiwanese dividend payers (5.3%). Higher than average of industry peers (3.3%). Declared Dividend • Jun 18
Dividend of NT$1.00 announced Shareholders will receive a dividend of NT$1.00. Ex-date: 15th July 2025 Payment date: 11th August 2025 Dividend yield will be 4.8%, which is higher than the industry average of 3.9%. Sustainability & Growth Dividend is not covered by earnings (447% earnings payout ratio) and the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 397% to bring the payout ratio under control. However, EPS has declined by 30% over the last 5 years so the company would need to reverse this trend. Reported Earnings • May 13
First quarter 2025 earnings released: EPS: NT$0.50 (vs NT$0.10 in 1Q 2024) First quarter 2025 results: EPS: NT$0.50 (up from NT$0.10 in 1Q 2024). Revenue: NT$3.63b (up 17% from 1Q 2024). Net income: NT$261.6m (up 440% from 1Q 2024). Profit margin: 7.2% (up from 1.6% in 1Q 2024). Revenue is forecast to grow 9.3% p.a. on average during the next 2 years, compared to a 5.6% growth forecast for the Metals and Mining industry in Taiwan. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 105 percentage points per year, which is a significant difference in performance. Announcement • Apr 01
YC Inox Co.,Ltd Announces Executive Changes YC Inox Co.,Ltd announced that name and resume of the previous position holder: Chiu, Yu-Ting, Assistant Manager of the Accounting Division. Reason for the change: Position adjustment. Effective date is March 31, 2025. The duties of the Accounting Officer will temporarily be performed by the Company's Deputy General Manager, Li, Chao-Ching. The appointment of the new Accounting Officer will be announced after the approval by the Audit Committee and the Board of Directors. Reported Earnings • Mar 13
Full year 2024 earnings released: NT$0.22 loss per share (vs NT$0.38 loss in FY 2023) Full year 2024 results: NT$0.22 loss per share (improved from NT$0.38 loss in FY 2023). Revenue: NT$14.5b (down 4.7% from FY 2023). Net loss: NT$103.5m (loss narrowed 39% from FY 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 103 percentage points per year, which is a significant difference in performance. Announcement • Mar 11
YC Inox Co.,Ltd, Annual General Meeting, Jun 16, 2025 YC Inox Co.,Ltd, Annual General Meeting, Jun 16, 2025, at 09:00 Taipei Standard Time. Location: 5 floor no,270, sec.4 chung shan rd., sijhou township, changhua county Taiwan New Risk • Feb 21
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 6.1% 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 Interest payments are not well covered by earnings (2.8x net interest cover). Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Earnings have declined by 30% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (6.1% average weekly change). Shareholders have been diluted in the past year (16% increase in shares outstanding). Buy Or Sell Opportunity • Dec 25
Now 20% overvalued Over the last 90 days, the stock has fallen 16% to NT$20.05. The fair value is estimated to be NT$16.69, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 8.9% over the last 3 years. Meanwhile, the company became loss making. New Risk • Dec 16
New major risk - Financial data availability The company has not reported any financial data. This is considered a major risk. With no or incomplete audited reported financial data, it is virtually impossible to assess the company's investment potential. Currently, the following risks have been identified for the company: Major Risk No financial data reported. 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 (5.1% increase in shares outstanding). Buy Or Sell Opportunity • Dec 04
Now 21% overvalued Over the last 90 days, the stock has fallen 11% to NT$20.00. The fair value is estimated to be NT$16.53, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 8.9% over the last 3 years. Meanwhile, the company became loss making. Buy Or Sell Opportunity • Nov 15
Now 22% overvalued Over the last 90 days, the stock has fallen 15% to NT$19.75. The fair value is estimated to be NT$16.18, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 8.9% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • Nov 09
Third quarter 2024 earnings released: EPS: NT$0.006 (vs NT$0.42 loss in 3Q 2023) Third quarter 2024 results: EPS: NT$0.006 (up from NT$0.42 loss in 3Q 2023). Revenue: NT$3.80b (down 6.6% from 3Q 2023). Net income: NT$2.80m (up NT$190.7m from 3Q 2023). Profit margin: 0.1% (up from net loss in 3Q 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 87 percentage points per year, which is a significant difference in performance. Announcement • Oct 31
YC Inox Co.,Ltd to Report Q3, 2024 Results on Nov 07, 2024 YC Inox Co.,Ltd announced that they will report Q3, 2024 results on Nov 07, 2024 Announcement • Aug 17
YC Inox Co.,Ltd has filed a Follow-on Equity Offering. YC Inox Co.,Ltd has filed a Follow-on Equity Offering.
Security Name: Shares
Security Type: Common Stock
Securities Offered: 37,500,000
Security Name: Shares
Security Type: Common Stock
Securities Offered: 7,500,000
Security Name: Shares
Security Type: Common Stock
Securities Offered: 5,000,000
Transaction Features: Reserved Share Offering; Rights Offering Reported Earnings • Aug 13
Second quarter 2024 earnings released: EPS: NT$0.06 (vs NT$0.46 in 2Q 2023) Second quarter 2024 results: EPS: NT$0.06 (down from NT$0.46 in 2Q 2023). Revenue: NT$3.54b (down 7.2% from 2Q 2023). Net income: NT$29.6m (down 86% from 2Q 2023). Profit margin: 0.8% (down from 5.4% in 2Q 2023). 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 73 percentage points per year, which is a significant difference in performance. Announcement • Jul 30
YC Inox Co.,Ltd to Report Q2, 2024 Results on Aug 09, 2024 YC Inox Co.,Ltd announced that they will report Q2, 2024 results on Aug 09, 2024 Upcoming Dividend • Jul 19
Upcoming dividend of NT$1.00 per share Eligible shareholders must have bought the stock before 26 July 2024. Payment date: 23 August 2024. The company is not currently making a profit and there are not enough cash flows to support it either. Trailing yield: 3.9%. Lower than top quartile of Taiwanese dividend payers (4.2%). Higher than average of industry peers (2.7%). Declared Dividend • Jul 01
Dividend reduced to NT$1.00 Dividend of NT$1.00 is 33% lower than last year. Ex-date: 26th July 2024 Payment date: 23rd August 2024 Dividend yield will be 3.9%, which is about the same as the industry average. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. The dividend is also not covered by cash flows (118% cash payout ratio). The dividend has increased by an average of 4.6% per year over the past 10 years. However, payments have been volatile during that time. Reported Earnings • May 07
First quarter 2024 earnings released: EPS: NT$0.10 (vs NT$0.21 in 1Q 2023) First quarter 2024 results: EPS: NT$0.10 (down from NT$0.21 in 1Q 2023). Revenue: NT$3.10b (down 20% from 1Q 2023). Net income: NT$48.4m (down 48% from 1Q 2023). Profit margin: 1.6% (down from 2.4% in 1Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 52 percentage points per year, which is a significant difference in performance. Announcement • Apr 28
YC Inox Co.,Ltd to Report Q1, 2024 Results on May 06, 2024 YC Inox Co.,Ltd announced that they will report Q1, 2024 results on May 06, 2024 New Risk • Apr 05
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 5.5% 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 Risks Interest payments are not well covered by earnings (2.9x net interest cover). Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Earnings have declined by 14% per year over the past 5 years. Minor Risk Shareholders have been diluted in the past year (5.5% increase in shares outstanding). Board Change • Mar 23
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Director Wei-Lun Chang was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Mar 09
Full year 2023 earnings released: NT$0.38 loss per share (vs NT$1.16 profit in FY 2022) Full year 2023 results: NT$0.38 loss per share (down from NT$1.16 profit in FY 2022). Revenue: NT$15.2b (down 9.5% from FY 2022). Net loss: NT$169.8m (down 133% from profit in FY 2022). 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 2% per year, which means it has not declined as severely as earnings. Announcement • Mar 09
YC Inox Co.,Ltd, Annual General Meeting, Jun 17, 2024 YC Inox Co.,Ltd, Annual General Meeting, Jun 17, 2024. Location: YC INOX's Headquarters, No.270, Sec. 4 Jungshan Rd., Shijou Township, Chang-Hwa County 524, R.O.C. Taiwan Changhua Country Taiwan Agenda: To consider the 2023 Business report; to consider the 2023 Audit Committee's review report; to consider the 2023 employees’ profit sharing and directors' compensation; to consider the Execution status of the 3rd domestic unsecured convertible corporate bonds; to consider the Amendment of Rules of Procedure for Shareholders' Meeting; to adopt the lifting of non-competition restrictions for newly-elected directors; and to consider other matters. Buy Or Sell Opportunity • Mar 08
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 6.9% to NT$24.90. The fair value is estimated to be NT$31.32, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.7% over the last 3 years. Meanwhile, the company became loss making. New Risk • Aug 08
New major risk - Revenue and earnings growth Earnings have declined by 2.7% 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 (13% operating cash flow to total debt). Dividend is not well covered by earnings and cash flows. Dividend per share is over 28x earnings per share. Paying a dividend despite having no free cash flows. Earnings have declined by 2.7% per year over the past 5 years. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.1% net profit margin). Reported Earnings • Aug 08
Second quarter 2023 earnings released: EPS: NT$0.46 (vs NT$0.84 in 2Q 2022) Second quarter 2023 results: EPS: NT$0.46 (down from NT$0.84 in 2Q 2022). Revenue: NT$3.81b (down 23% from 2Q 2022). Net income: NT$205.2m (down 45% from 2Q 2022). Profit margin: 5.4% (down from 7.5% in 2Q 2022). 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. Upcoming Dividend • Jul 13
Upcoming dividend of NT$1.50 per share at 5.2% yield Eligible shareholders must have bought the stock before 20 July 2023. Payment date: 18 August 2023. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 5.2%. Lower than top quartile of Taiwanese dividend payers (5.5%). Higher than average of industry peers (3.8%). Reported Earnings • Mar 11
Full year 2022 earnings released: EPS: NT$1.16 (vs NT$2.86 in FY 2021) Full year 2022 results: EPS: NT$1.16 (down from NT$2.86 in FY 2021). Revenue: NT$16.8b (down 5.3% from FY 2021). Net income: NT$518.3m (down 59% from FY 2021). Profit margin: 3.1% (down from 7.1% in FY 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Price Target Changed • Nov 16
Price target increased to NT$27.00 Up from NT$23.50, the current price target is provided by 1 analyst. New target price is approximately in line with last closing price of NT$27.70. Stock is down 12% over the past year. The company posted earnings per share of NT$2.86 last year. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Director Wei-Lun Chang was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 08
Third quarter 2022 earnings released: EPS: NT$0.60 (vs NT$0.74 in 3Q 2021) Third quarter 2022 results: EPS: NT$0.60 (down from NT$0.74 in 3Q 2021). Revenue: NT$4.35b (down 18% from 3Q 2021). Net income: NT$265.6m (down 18% from 3Q 2021). Profit margin: 6.1% (in line with 3Q 2021). Revenue is expected to fall by 3.4% p.a. on average during the next 2 years compared to a 3.8% decline forecast for the Metals and Mining industry in Taiwan. 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 1% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 07
Second quarter 2022 earnings released: EPS: NT$0.84 (vs NT$0.70 in 2Q 2021) Second quarter 2022 results: EPS: NT$0.84 (up from NT$0.70 in 2Q 2021). Revenue: NT$4.97b (up 12% from 2Q 2021). Net income: NT$372.2m (up 21% from 2Q 2021). Profit margin: 7.5% (up from 6.9% in 2Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to decline by 3.0% while the industry in Taiwan is not expected to grow. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jul 12
Upcoming dividend of NT$1.50 per share Eligible shareholders must have bought the stock before 19 July 2022. Payment date: 18 August 2022. Payout ratio is a comfortable 45% but the company is not cash flow positive. Trailing yield: 5.8%. Lower than top quartile of Taiwanese dividend payers (6.7%). Lower than average of industry peers (8.9%). Announcement • Jun 17
Yc Inox Co., Ltd. Announces Dividend, Cash Dividend Payment Date:2022/08/18 YC Inox Co., Ltd. announced The Board of Directors has adopted the ex-dividend record date. Date of the resolution by the board of directors or shareholders meeting or decision by the Company:2022/06/16. Type of ex-rights or ex-dividend: Ex-dividend. Type and monetary amount of dividend distribution: Earnings distribution by cash in total of TWD 666,963,791(TWD 1.49760191 per share). Ex-rights (ex-dividend) trading date:2022/07/19. Last date before book closure:2022/07/20. Book closure starting date:2022/07/21. book closure ending date:2022/07/25. Ex-rights (ex-dividend) record date:2022/07/25. Any other matters that need to be specified: (1)Cash dividend payment date:2022/08/18 (2)The book closure period for conversion of the 3rd domestic unsecured convertible corporate bonds will be 2022/06/30 to 2022/07/25. Reported Earnings • May 09
First quarter 2022 earnings released: EPS: NT$0.95 (vs NT$0.45 in 1Q 2021) First quarter 2022 results: EPS: NT$0.95 (up from NT$0.45 in 1Q 2021). Revenue: NT$4.08b (up 20% from 1Q 2021). Net income: NT$421.6m (up 113% from 1Q 2021). Profit margin: 10% (up from 5.8% 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 13% 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
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Director Wei-Lun Chang was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 08
Third quarter 2021 earnings released: EPS NT$0.74 (vs NT$0.46 in 3Q 2020) The company reported a solid third quarter result with improved earnings and revenues, although profit margins were flat. Third quarter 2021 results: Revenue: NT$5.31b (up 72% from 3Q 2020). Net income: NT$323.9m (up 72% from 3Q 2020). Profit margin: 6.1% (in line with 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Upcoming Dividend • Sep 28
Upcoming dividend of NT$1.48 per share Eligible shareholders must have bought the stock before 05 October 2021. Payment date: 01 November 2021. Trailing yield: 4.1%. Lower than top quartile of Taiwanese dividend payers (5.2%). Higher than average of industry peers (1.6%). Executive Departure • Aug 26
Director Tien-Shang Hsieh has left the company On the 23rd of August, Tien-Shang Hsieh's tenure as Director ended after 6.2 years in the role. We don't have any record of a personal shareholding under Tien-Shang's name. A total of 2 executives have left over the last 12 months. The current median tenure of the management team is 3.42 years. Executive Departure • Aug 26
Director Shu-Ying Chang has left the company On the 23rd of August, Shu-Ying Chang's tenure as Director ended after 3.2 years in the role. We don't have any record of a personal shareholding under Shu-Ying's name. A total of 2 executives have left over the last 12 months. The current median tenure of the management team is 3.42 years. Reported Earnings • Aug 09
Second quarter 2021 earnings released: EPS NT$0.70 (vs NT$0.34 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: NT$4.43b (up 53% from 2Q 2020). Net income: NT$307.1m (up 123% from 2Q 2020). Profit margin: 6.9% (up from 4.7% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has increased by 15% 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 20% share price gain to NT$44.35, the stock trades at a trailing P/E ratio of 38.5x. Average trailing P/E is 32x in the Metals and Mining industry in Taiwan. Total returns to shareholders of 99% over the past three years. Valuation Update With 7 Day Price Move • Jun 28
Investor sentiment improved over the past week After last week's 22% share price gain to NT$37.80, the stock trades at a trailing P/E ratio of 32.8x. Average trailing P/E is 25x in the Metals and Mining industry in Taiwan. Total returns to shareholders of 76% over the past three years. Valuation Update With 7 Day Price Move • May 17
Investor sentiment deteriorated over the past week After last week's 25% share price decline to NT$26.60, the stock trades at a trailing P/E ratio of 23.1x. Average forward P/E is 10x in the Metals and Mining industry in Taiwan. Total returns to shareholders of 21% over the past three years. Reported Earnings • May 08
First quarter 2021 earnings released: EPS NT$0.45 (vs NT$0.35 in 1Q 2020) The company reported a decent first quarter result with improved earnings and profit margins, although revenues were weaker. First quarter 2021 results: Revenue: NT$3.39b (down 9.8% from 1Q 2020). Net income: NT$197.8m (up 38% from 1Q 2020). Profit margin: 5.8% (up from 3.8% in 1Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Reported Earnings • Mar 27
Full year 2020 earnings released: EPS NT$1.04 (vs NT$1.53 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$12.7b (down 22% from FY 2019). Net income: NT$423.6m (down 32% from FY 2019). Profit margin: 3.3% (down from 3.8% 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 25% 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 • Dec 30
New 90-day high: NT$28.50 The company is up 24% from its price of NT$22.90 on 30 September 2020. The Taiwanese market is up 15% over the last 90 days, indicating the company outperformed over that time. However, its price trend is similar to the Metals and Mining industry, which is also up 24% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is NT$16.03 per share. Is New 90 Day High Low • Dec 14
New 90-day high: NT$26.90 The company is up 14% from its price of NT$23.65 on 15 September 2020. The Taiwanese market is up 11% over the last 90 days, indicating the company outperformed over that time. However, its price trend is similar to the Metals and Mining industry, which is also up 14% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is NT$16.04 per share. Is New 90 Day High Low • Nov 25
New 90-day high: NT$24.50 The company is up 4.0% from its price of NT$23.50 on 27 August 2020. The Taiwanese market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 12% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is NT$15.14 per share. Analyst Estimate Surprise Post Earnings • Nov 01
Third-quarter earnings released: Revenue misses expectations Third-quarter revenue missed analyst estimates by 0.005% at NT$3.09b. Revenue is forecast to grow 5.3% over the next year, compared to a 3.0% growth forecast for the Metals and Mining industry in Taiwan. Reported Earnings • Nov 01
Third quarter earnings released Over the last 12 months the company has reported total profits of NT$440.7m, down 41% from the prior year. Total revenue was NT$13.5b over the last 12 months, down 19% from the prior year. Is New 90 Day High Low • Sep 26
New 90-day low: NT$22.80 The company is down 8.0% from its price of NT$24.80 on 24 June 2020. The Taiwanese market is up 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 1.0% over the same period.