Valuation Update With 7 Day Price Move • Jun 04
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$31.00, the stock trades at a trailing P/E ratio of 35.8x. Average trailing P/E is 33x in the Chemicals industry in Taiwan. Total loss to shareholders of 10% over the past three years. Reported Earnings • May 12
First quarter 2026 earnings released: EPS: NT$0.34 (vs NT$0.30 in 1Q 2025) First quarter 2026 results: EPS: NT$0.34 (up from NT$0.30 in 1Q 2025). Revenue: NT$2.60b (up 14% from 1Q 2025). Net income: NT$166.6m (up 11% from 1Q 2025). Profit margin: 6.4% (down from 6.6% in 1Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has only fallen by 11% per year, which means it has not declined as severely as earnings. Reported Earnings • Mar 11
Full year 2025 earnings released: EPS: NT$0.83 (vs NT$1.14 in FY 2024) Full year 2025 results: EPS: NT$0.83 (down from NT$1.14 in FY 2024). Revenue: NT$9.55b (down 16% from FY 2024). Net income: NT$410.5m (down 27% from FY 2024). Profit margin: 4.3% (down from 4.9% 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 27% 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. Reported Earnings • Nov 09
Third quarter 2025 earnings released: EPS: NT$0.24 (vs NT$0.25 in 3Q 2024) Third quarter 2025 results: EPS: NT$0.24 (down from NT$0.25 in 3Q 2024). Revenue: NT$2.34b (down 26% from 3Q 2024). Net income: NT$117.4m (down 5.4% from 3Q 2024). Profit margin: 5.0% (up from 3.9% in 3Q 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 39% 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. Reported Earnings • Aug 12
Second quarter 2025 earnings released: EPS: NT$0.03 (vs NT$0.33 in 2Q 2024) Second quarter 2025 results: EPS: NT$0.03 (down from NT$0.33 in 2Q 2024). Revenue: NT$2.63b (down 14% from 2Q 2024). Net income: NT$13.5m (down 92% from 2Q 2024). Profit margin: 0.5% (down from 5.2% in 2Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 59% 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. Reported Earnings • May 13
First quarter 2025 earnings released: EPS: NT$0.31 (vs NT$0.21 in 1Q 2024) First quarter 2025 results: EPS: NT$0.31 (up from NT$0.21 in 1Q 2024). Revenue: NT$2.27b (up 4.2% from 1Q 2024). Net income: NT$150.4m (up 44% from 1Q 2024). Profit margin: 6.6% (up from 4.8% in 1Q 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 62 percentage points per year, which is a significant difference in performance. Announcement • Apr 22
NANTEX Industry Co., Ltd. to Report Q1, 2025 Results on May 09, 2025 NANTEX Industry Co., Ltd. announced that they will report Q1, 2025 results on May 09, 2025 Valuation Update With 7 Day Price Move • Apr 09
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to NT$24.30, the stock trades at a trailing P/E ratio of 21.3x. Average trailing P/E is 17x in the Chemicals industry in Taiwan. Total loss to shareholders of 53% over the past three years. Announcement • Mar 11
NANTEX Industry Co., Ltd., Annual General Meeting, May 26, 2025 NANTEX Industry Co., Ltd., Annual General Meeting, May 26, 2025, at 10:00 Taipei Standard Time. Location: 1 floor no,261, nan men rd., tainan city Taiwan Reported Earnings • Mar 11
Full year 2024 earnings released: EPS: NT$1.14 (vs NT$1.45 in FY 2023) Full year 2024 results: EPS: NT$1.14 (down from NT$1.45 in FY 2023). Revenue: NT$11.4b (up 27% from FY 2023). Net income: NT$562.5m (down 21% from FY 2023). Profit margin: 4.9% (down from 8.0% in FY 2023). 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 69 percentage points per year, which is a significant difference in performance. Declared Dividend • Mar 10
Dividend of NT$1.00 announced Shareholders will receive a dividend of NT$1.00. Ex-date: 26th March 2025 Payment date: 24th April 2025 Dividend yield will be 3.0%, which is lower than the industry average of 4.0%. Sustainability & Growth Dividend is not covered by earnings (100% earnings payout ratio) nor is it covered by cash flows (359% cash payout ratio). The dividend has increased by an average of 12% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 11% to bring the payout ratio under control. However, EPS has declined by 20% over the last 5 years so the company would need to reverse this trend. Announcement • Feb 25
NANTEX Industry Co., Ltd. to Report Q4, 2024 Results on Mar 07, 2025 NANTEX Industry Co., Ltd. announced that they will report Q4, 2024 results on Mar 07, 2025 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 Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. New Risk • Nov 10
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 4.7% Last year net profit margin: 7.7% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 100% Cash payout ratio: 359% Earnings have declined by 21% per year over the past 5 years. Minor Risk Profit margins are more than 30% lower than last year (4.7% net profit margin). Reported Earnings • Nov 10
Third quarter 2024 earnings released: EPS: NT$0.25 (vs NT$0.40 in 3Q 2023) Third quarter 2024 results: EPS: NT$0.25 (down from NT$0.40 in 3Q 2023). Revenue: NT$3.15b (up 33% from 3Q 2023). Net income: NT$124.1m (down 37% from 3Q 2023). Profit margin: 3.9% (down from 8.3% in 3Q 2023). 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 77 percentage points per year, which is a significant difference in performance. Announcement • Oct 18
NANTEX Industry Co., Ltd. to Report Q3, 2024 Results on Nov 08, 2024 NANTEX Industry Co., Ltd. announced that they will report Q3, 2024 results on Nov 08, 2024 Reported Earnings • Aug 08
Second quarter 2024 earnings released: EPS: NT$0.33 (vs NT$0.48 in 2Q 2023) Second quarter 2024 results: EPS: NT$0.33 (down from NT$0.48 in 2Q 2023). Revenue: NT$3.06b (up 36% from 2Q 2023). Net income: NT$160.2m (down 32% from 2Q 2023). Profit margin: 5.2% (down from 11% in 2Q 2023). 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 63 percentage points per year, which is a significant difference in performance. Announcement • Jul 23
NANTEX Industry Co., Ltd. to Report Q2, 2024 Results on Aug 07, 2024 NANTEX Industry Co., Ltd. announced that they will report Q2, 2024 results on Aug 07, 2024 Valuation Update With 7 Day Price Move • Jul 08
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to NT$45.55, the stock trades at a trailing P/E ratio of 35.1x. Average trailing P/E is 25x in the Chemicals industry in Taiwan. Total loss to shareholders of 58% over the past three years. Reported Earnings • May 09
First quarter 2024 earnings released: EPS: NT$0.21 (vs NT$0.36 in 1Q 2023) First quarter 2024 results: EPS: NT$0.21 (down from NT$0.36 in 1Q 2023). Revenue: NT$2.18b (down 2.6% from 1Q 2023). Net income: NT$104.4m (down 42% from 1Q 2023). Profit margin: 4.8% (down from 8.0% in 1Q 2023). 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 • Apr 24
NANTEX Industry Co., Ltd. to Report Q1, 2024 Results on May 07, 2024 NANTEX Industry Co., Ltd. announced that they will report Q1, 2024 results on May 07, 2024 Upcoming Dividend • Mar 21
Upcoming dividend of NT$1.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 26 April 2024. Payout ratio is a comfortable 69% and the cash payout ratio is 95%. Trailing yield: 2.9%. Lower than top quartile of Taiwanese dividend payers (4.7%). Lower than average of industry peers (4.1%). Declared Dividend • Mar 08
Dividend reduced to NT$1.00 Dividend of NT$1.00 is 50% lower than last year. Ex-date: 28th March 2024 Payment date: 26th April 2024 Dividend yield will be 2.9%, which is lower than the industry average of 4.0%. Sustainability & Growth Dividend is not covered by earnings (142% earnings payout ratio) nor is it adequately covered by cash flows (95% cash payout ratio). The dividend has increased by an average of 18% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 58% to bring the payout ratio under control. However, EPS has declined by 14% over the last 5 years so the company would need to reverse this trend. Announcement • Dec 27
NANTEX Industry Co., Ltd. Announces CFO Changes, Effective January 8, 2024 NANTEX Industry Co., Ltd. announced Name, title, and resume of the previous position holder: TAI HSIN FU, financial officer and Name, title, and resume of the new position holder: CHAO HSIU MEI, financial officer acting manager. Type of the change: position adjustment. Effective date: 2024/01/08. Reported Earnings • Nov 14
Third quarter 2023 earnings released: EPS: NT$0.40 (vs NT$0.33 in 3Q 2022) Third quarter 2023 results: EPS: NT$0.40 (up from NT$0.33 in 3Q 2022). Revenue: NT$2.36b (down 6.1% from 3Q 2022). Net income: NT$195.5m (up 21% from 3Q 2022). Profit margin: 8.3% (up from 6.5% in 3Q 2022). The increase in margin was driven by lower expenses. 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 17% per year, which means it has not declined as severely as earnings. Reported Earnings • Aug 09
Second quarter 2023 earnings released: EPS: NT$0.48 (vs NT$0.75 in 2Q 2022) Second quarter 2023 results: EPS: NT$0.48 (down from NT$0.75 in 2Q 2022). Revenue: NT$2.25b (down 35% from 2Q 2022). Net income: NT$236.9m (down 36% from 2Q 2022). Profit margin: 11% (in line with 2Q 2022). Over the last 3 years on average, earnings per share has fallen by 26% 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 • Mar 23
Upcoming dividend of NT$2.00 per share at 4.8% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 28 April 2023. Payout ratio is on the higher end at 83%, and the cash payout ratio is above 100%. Trailing yield: 4.8%. Lower than top quartile of Taiwanese dividend payers (6.0%). Lower than average of industry peers (6.3%). Buying Opportunity • Nov 29
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 13%. The fair value is estimated to be NT$46.86, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Earnings per share has grown by 34%. Reported Earnings • Nov 16
Third quarter 2022 earnings released: EPS: NT$0.33 (vs NT$3.00 in 3Q 2021) Third quarter 2022 results: EPS: NT$0.33 (down from NT$3.00 in 3Q 2021). Revenue: NT$2.51b (down 54% from 3Q 2021). Net income: NT$162.2m (down 89% from 3Q 2021). Profit margin: 6.5% (down from 27% in 3Q 2021). The decrease in margin was driven by lower revenue. 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 6% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 13
Third quarter 2022 earnings released: EPS: NT$0.33 (vs NT$3.00 in 3Q 2021) Third quarter 2022 results: EPS: NT$0.33 (down from NT$3.00 in 3Q 2021). Revenue: NT$2.51b (down 54% from 3Q 2021). Net income: NT$162.2m (down 89% from 3Q 2021). Profit margin: 6.5% (down from 27% in 3Q 2021). The decrease in margin was driven by lower revenue. 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 6% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 11
Second quarter 2022 earnings released: EPS: NT$0.75 (vs NT$5.15 in 2Q 2021) Second quarter 2022 results: EPS: NT$0.75 (down from NT$5.15 in 2Q 2021). Revenue: NT$3.44b (down 52% from 2Q 2021). Net income: NT$369.9m (down 85% from 2Q 2021). Profit margin: 11% (down from 35% in 2Q 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 11
First quarter 2022 earnings: EPS misses analyst expectations First quarter 2022 results: EPS: NT$1.17 (down from NT$5.45 in 1Q 2021). Revenue: NT$3.49b (down 50% from 1Q 2021). Net income: NT$577.6m (down 79% from 1Q 2021). Profit margin: 17% (down from 39% in 1Q 2021). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 6.8%. 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 12% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Mar 17
Upcoming dividend of NT$7.00 per share Eligible shareholders must have bought the stock before 24 March 2022. Payment date: 25 April 2022. Payout ratio is a comfortable 47% and this is well supported by cash flows. Trailing yield: 8.8%. Within top quartile of Taiwanese dividend payers (5.4%). Higher than average of industry peers (6.3%). Valuation Update With 7 Day Price Move • Mar 15
Investor sentiment improved over the past week After last week's 17% share price gain to NT$81.40, the stock trades at a trailing P/E ratio of 5.5x. Average trailing P/E is 17x in the Chemicals industry in Taiwan. Total returns to shareholders of 177% over the past three years. Announcement • Mar 10
NANTEX Industry Co., Ltd. Announces Dividend, Payable on April 25, 2022 NANTEX Industry Co., Ltd. announced dividend of TWD 3,446,916,613 (TWD 7.0 distributed per share) at the board of directors or shareholders meeting on March 8, 2022. Ex-rights (ex-dividend) trading date is on March 24, 2022. Ex-rights (ex-dividend) record date as on April 1, 2022. Date of cash dividends distribution is on April 25, 2022.NANTEX Industry Co., Ltd. announced dividend of TWD 1,969,666,636 (TWD 4.0 distributed per share) at the board of directors or shareholders meeting on March 17, 2021. Ex-rights (ex-dividend) trading date is on April 7, 2021. Ex-rights (ex-dividend) record date as on April 13, 2021. Date of cash dividends distribution is on May 7, 2021. Reported Earnings • Mar 10
Full year 2021 earnings: EPS misses analyst expectations Full year 2021 results: EPS: NT$14.92 (up from NT$7.21 in FY 2020). Revenue: NT$23.5b (up 63% from FY 2020). Net income: NT$7.35b (up 107% from FY 2020). Profit margin: 31% (up from 25% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 6.8%. Over the last 3 years on average, earnings per share has increased by 70% per year but the company’s share price has only increased by 30% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 10
Third quarter 2021 earnings released: EPS NT$3.00 (vs NT$1.66 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$5.45b (up 58% from 3Q 2020). Net income: NT$1.48b (up 81% from 3Q 2020). Profit margin: 27% (up from 24% 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 70% per year but the company’s share price has only increased by 40% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 11
Second quarter 2021 earnings released: EPS NT$5.15 (vs NT$0.85 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: NT$7.21b (up 166% from 2Q 2020). Net income: NT$2.53b (up NT$2.11b from 2Q 2020). Profit margin: 35% (up from 16% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 62% 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 • Jun 26
Investor sentiment improved over the past week After last week's 15% share price gain to NT$166, the stock trades at a trailing P/E ratio of 13.9x. Average trailing P/E is 16x in the Chemicals industry in Taiwan. Total returns to shareholders of 634% over the past three years. Valuation Update With 7 Day Price Move • May 20
Investor sentiment deteriorated over the past week After last week's 17% share price decline to NT$119, the stock trades at a trailing P/E ratio of 9.9x. Average trailing P/E is 15x in the Chemicals industry in Taiwan. Total returns to shareholders of 457% over the past three years. Reported Earnings • May 11
First quarter 2021 earnings released: EPS NT$5.45 (vs NT$0.73 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$6.95b (up 163% from 1Q 2020). Net income: NT$2.68b (up NT$2.32b from 1Q 2020). Profit margin: 39% (up from 14% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has increased by 79% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Apr 13
Investor sentiment improved over the past week After last week's 50% share price gain to NT$166, the stock trades at a trailing P/E ratio of 23x. Average trailing P/E is 21x in the Chemicals industry in Taiwan. Total returns to shareholders of 740% over the past three years. Upcoming Dividend • Mar 31
Upcoming dividend of NT$4.00 per share Eligible shareholders must have bought the stock before 07 April 2021. Payment date: 07 May 2021. Trailing yield: 3.6%. Lower than top quartile of Taiwanese dividend payers (4.8%). In line with average of industry peers (3.5%). Valuation Update With 7 Day Price Move • Mar 25
Investor sentiment improved over the past week After last week's 18% share price gain to NT$87.80, the stock trades at a trailing P/E ratio of 12.2x. Average trailing P/E is 21x in the Chemicals industry in Taiwan. Total returns to shareholders of 354% over the past three years. Reported Earnings • Mar 18
Full year 2020 earnings released: EPS NT$7.21 (vs NT$2.90 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$14.4b (up 16% from FY 2019). Net income: NT$3.55b (up 149% from FY 2019). Profit margin: 25% (up from 12% in FY 2019). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has increased by 49% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Mar 09
Investor sentiment improved over the past week After last week's 17% share price gain to NT$73.30, the stock is trading at a trailing P/E ratio of 19x, up from the previous P/E ratio of 16.2x. This compares to an average P/E of 20x in the Chemicals industry in Taiwan. Total returns to shareholders over the past three years are 289%. Is New 90 Day High Low • Feb 23
New 90-day high: NT$65.50 The company is up 7.0% from its price of NT$61.00 on 25 November 2020. The Taiwanese market is up 18% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 8.0% over the same period. Valuation Update With 7 Day Price Move • Dec 22
Investor sentiment improved over the past week After last week's 15% share price gain to NT$65.00, the stock is trading at a trailing P/E ratio of 16.8x, up from the previous P/E ratio of 14.6x. This compares to an average P/E of 19x in the Chemicals industry in Taiwan. Total returns to shareholders over the past three years are 242%. Reported Earnings • Nov 11
Third quarter 2020 earnings released: EPS NT$1.66 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: NT$3.45b (up 7.5% from 3Q 2019). Net income: NT$815.1m (up 201% from 3Q 2019). Profit margin: 24% (up from 8.5% in 3Q 2019). The increase in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has increased by 43% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Oct 28
Market bids up stock over the past week After last week's 16% share price gain to NT$73.50, the stock is trading at a trailing P/E ratio of 26.6x, up from the previous P/E ratio of 22.9x. This compares to an average P/E of 22x in the Chemicals industry in Taiwan. Total returns to shareholders over the past three years are 306%. Is New 90 Day High Low • Oct 26
New 90-day high: NT$66.70 The company is up 96% from its price of NT$34.00 on 28 July 2020. The Taiwanese market is up 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 3.0% over the same period. Is New 90 Day High Low • Oct 07
New 90-day high: NT$53.60 The company is up 37% from its price of NT$39.20 on 09 July 2020. The Taiwanese market is up 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is down 2.0% over the same period.