Declared Dividend • Jun 28
Dividend of NT$6.50 announced Shareholders will receive a dividend of NT$6.50. Ex-date: 20th July 2026 Payment date: 7th August 2026 Dividend yield will be 6.9%, which is higher than the industry average of 3.9%. Sustainability & Growth Dividend is covered by earnings (79% earnings payout ratio) but not covered by cash flows (113% cash payout ratio). The dividend has increased by an average of 22% per year over the past 6 years. However, payments have been volatile during that time. Earnings per share has grown by 24% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • May 16
First quarter 2026 earnings released: EPS: NT$1.00 (vs NT$1.49 in 1Q 2025) First quarter 2026 results: EPS: NT$1.00 (down from NT$1.49 in 1Q 2025). Revenue: NT$3.33b (down 14% from 1Q 2025). Net income: NT$448.2m (down 28% from 1Q 2025). Profit margin: 14% (down from 16% in 1Q 2025). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 16% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jan 29
Evergreen Steel Corp., Annual General Meeting, May 27, 2026 Evergreen Steel Corp., Annual General Meeting, May 27, 2026, at 09:00 Taipei Standard Time. Location: 10 floor no,11, chung shan s. rd., taipei city Taiwan Reported Earnings • Nov 17
Third quarter 2025 earnings: EPS and revenues exceed analyst expectations Third quarter 2025 results: EPS: NT$2.87 (up from NT$1.95 in 3Q 2024). Revenue: NT$4.00b (up 22% from 3Q 2024). Net income: NT$1.20b (up 48% from 3Q 2024). Profit margin: 30% (up from 25% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 10.0%. Earnings per share (EPS) also surpassed analyst estimates by 24%. Revenue is expected to decline by 4.2% p.a. on average during the next 2 years, while revenues in the Metals and Mining industry in Taiwan are expected to grow by 7.4%. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 28% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Aug 15
Second quarter 2025 earnings: EPS exceeds analyst expectations Second quarter 2025 results: EPS: NT$2.99 (up from NT$1.91 in 2Q 2024). Revenue: NT$3.63b (up 8.5% from 2Q 2024). Net income: NT$1.25b (up 57% from 2Q 2024). Profit margin: 34% (up from 24% in 2Q 2024). The increase in margin was primarily driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 108%. Revenue is forecast to stay flat during the next 2 years compared to a 6.0% growth forecast for the Metals and Mining industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 13% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Jul 16
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 9.0% per year for the foreseeable future. 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 expected to decline, then in most cases the share price will decline over time as well. 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 Risk Earnings are forecast to decline by an average of 9.0% per year for the foreseeable future. Minor Risks Dividend is not well covered by cash flows (222% cash payout ratio). Profit margins are more than 30% lower than last year (19% net profit margin). Declared Dividend • Jun 30
Dividend reduced to NT$5.00 Dividend of NT$5.00 is 23% lower than last year. Ex-date: 17th July 2025 Payment date: 8th August 2025 Dividend yield will be 5.9%, which is higher than the industry average of 3.9%. Sustainability & Growth Dividend is covered by earnings (77% earnings payout ratio) but not covered by cash flows (222% cash payout ratio). The dividend has increased by an average of 20% per year over the past 5 years. However, payments have been volatile during that time. Earnings per share has grown by 21% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • May 29
Evergreen Steel Corp. Approves Cash Dividends for the Year 2024 Evergreen Steel Corp. approved cash dividend to shareholders of TWD 5 per share. The fractional amount less than TWD 1 will be set aside as company's non-operating revenue in distribution of cash dividends, at its shareholders meeting held on May 28, 2025. Reported Earnings • May 17
First quarter 2025 earnings released: EPS: NT$1.49 (vs NT$1.16 in 1Q 2024) First quarter 2025 results: EPS: NT$1.49 (up from NT$1.16 in 1Q 2024). Revenue: NT$3.88b (up 36% from 1Q 2024). Net income: NT$622.4m (up 29% from 1Q 2024). Profit margin: 16% (in line with 1Q 2024). Over the last 3 years on average, earnings per share has increased by 9% per year whereas the company’s share price has increased by 13% per year. Announcement • May 03
Evergreen Steel Corp. to Report Q1, 2025 Results on May 12, 2025 Evergreen Steel Corp. announced that they will report Q1, 2025 results on May 12, 2025 Valuation Update With 7 Day Price Move • Apr 09
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to NT$73.50, the stock trades at a trailing P/E ratio of 12x. Average trailing P/E is 17x in the Metals and Mining industry in Taiwan. Total returns to shareholders of 44% over the past three years. Reported Earnings • Mar 19
Full year 2024 earnings released: EPS: NT$6.12 (vs NT$8.80 in FY 2023) Full year 2024 results: EPS: NT$6.12 (down from NT$8.80 in FY 2023). Revenue: NT$12.9b (up 17% from FY 2023). Net income: NT$2.55b (down 30% from FY 2023). Profit margin: 20% (down from 33% in FY 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 17% per year whereas the company’s share price has increased by 15% per year. Announcement • Mar 06
Evergreen Steel Corp. to Report Fiscal Year 2024 Results on Mar 13, 2025 Evergreen Steel Corp. announced that they will report fiscal year 2024 results at 12:00 PM, Taipei Standard Time on Mar 13, 2025 Announcement • Feb 14
Evergreen Steel Corp., Annual General Meeting, May 28, 2025 Evergreen Steel Corp., Annual General Meeting, May 28, 2025. Location: 10 floor no,11, chung shan s. rd., taipei city Taiwan Valuation Update With 7 Day Price Move • Dec 30
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to NT$93.00, the stock trades at a trailing P/E ratio of 15.6x. Average trailing P/E is 17x in the Metals and Mining industry in Taiwan. Total returns to shareholders of 100% over the past three years. Reported Earnings • Nov 17
Third quarter 2024 earnings released: EPS: NT$1.95 (vs NT$2.20 in 3Q 2023) Third quarter 2024 results: EPS: NT$1.95 (down from NT$2.20 in 3Q 2023). Revenue: NT$3.28b (up 6.1% from 3Q 2023). Net income: NT$812.7m (down 11% from 3Q 2023). Profit margin: 25% (down from 30% in 3Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 26% per year whereas the company’s share price has increased by 28% per year. Announcement • Nov 05
Evergreen Steel Corp. to Report Q3, 2024 Results on Nov 12, 2024 Evergreen Steel Corp. announced that they will report Q3, 2024 results on Nov 12, 2024 Reported Earnings • Aug 17
Second quarter 2024 earnings released: EPS: NT$1.91 (vs NT$4.47 in 2Q 2023) Second quarter 2024 results: EPS: NT$1.91 (down from NT$4.47 in 2Q 2023). Revenue: NT$3.34b (down 2.7% from 2Q 2023). Net income: NT$796.2m (down 57% from 2Q 2023). Profit margin: 24% (down from 54% in 2Q 2023). The decrease in margin was primarily driven by higher expenses. 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. Announcement • Aug 04
Evergreen Steel Corp. to Report Q2, 2024 Results on Aug 12, 2024 Evergreen Steel Corp. announced that they will report Q2, 2024 results on Aug 12, 2024 Upcoming Dividend • Jul 12
Upcoming dividend of NT$6.50 per share Eligible shareholders must have bought the stock before 16 July 2024. Payment date: 08 August 2024. Payout ratio is a comfortable 74% and the cash payout ratio is 96%. Trailing yield: 4.7%. Within top quartile of Taiwanese dividend payers (4.2%). Higher than average of industry peers (2.7%). Declared Dividend • Jun 27
Dividend increased to NT$6.50 Dividend of NT$6.50 is 30% higher than last year. Ex-date: 16th July 2024 Payment date: 8th August 2024 Dividend yield will be 4.6%, which is higher than the industry average of 3.9%. Sustainability & Growth Dividend is covered by earnings (74% earnings payout ratio) but not covered by cash flows (125% cash payout ratio). The dividend has increased by an average of 34% per year over the past 4 years and payments have been stable during that time. Earnings per share has grown by 29% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • May 29
Evergreen Steel Corp. Approves Cash Dividends for 2023 Evergreen Steel Corp. approved Cash dividends to shareholders of TWD 6.5 per share for 2023, at its AGM, held on May 27, 2024. Reported Earnings • May 19
First quarter 2024 earnings released: EPS: NT$1.16 (vs NT$1.17 in 1Q 2023) First quarter 2024 results: EPS: NT$1.16 (down from NT$1.17 in 1Q 2023). Revenue: NT$2.85b (up 9.9% from 1Q 2023). Net income: NT$482.9m (flat on 1Q 2023). Profit margin: 17% (down from 19% in 1Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 43% per year and the company’s share price has also increased by 43% per year. Announcement • May 05
Evergreen Steel Corp. to Report Q1, 2024 Results on May 13, 2024 Evergreen Steel Corp. announced that they will report Q1, 2024 results on May 13, 2024 Reported Earnings • Mar 17
Full year 2023 earnings released: EPS: NT$8.80 (vs NT$6.22 in FY 2022) Full year 2023 results: EPS: NT$8.80 (up from NT$6.22 in FY 2022). Revenue: NT$11.1b (down 3.0% from FY 2022). Net income: NT$3.67b (up 41% from FY 2022). Profit margin: 33% (up from 23% in FY 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has only increased by 28% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Mar 06
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$120, the stock trades at a trailing P/E ratio of 13.2x. Average trailing P/E is 17x in the Metals and Mining industry in Taiwan. Total returns to shareholders of 150% over the past three years. Announcement • Jan 18
Evergreen Steel Corp., Annual General Meeting, May 27, 2024 Evergreen Steel Corp., Annual General Meeting, May 27, 2024. Location: Conference Room on the 10th floor, International Convention Center of Chang Yung-Fa Foundation, No.11, Zhongshan S. Road Taipei City Taiwan Agenda: To consider business Report of the year 2023; to consider audit Committee's Review Report of the year 2023; to consider 2023 Compensation of Employees and Directors Report and to consider other matters. Reported Earnings • Nov 15
Third quarter 2023 earnings: EPS and revenues exceed analyst expectations Third quarter 2023 results: EPS: NT$2.20 (up from NT$1.29 in 3Q 2022). Revenue: NT$3.09b (up 28% from 3Q 2022). Net income: NT$916.0m (up 71% from 3Q 2022). Profit margin: 30% (up from 22% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 15%. Earnings per share (EPS) also surpassed analyst estimates by 68%. Revenue is expected to decline by 5.2% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in Taiwan are expected to grow by 5.2%. Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 17
Second quarter 2023 earnings: EPS and revenues exceed analyst expectations Second quarter 2023 results: EPS: NT$4.47 (up from NT$2.90 in 2Q 2022). Revenue: NT$3.44b (up 3.3% from 2Q 2022). Net income: NT$1.86b (up 54% from 2Q 2022). Profit margin: 54% (up from 36% in 2Q 2022). The increase in margin was primarily driven by lower expenses. Revenue exceeded analyst estimates by 2.7%. Earnings per share (EPS) also surpassed analyst estimates by 33%. Revenue is expected to decline by 2.5% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in Taiwan are expected to grow by 4.3%. Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jul 11
Upcoming dividend of NT$5.00 per share at 7.7% yield Eligible shareholders must have bought the stock before 18 July 2023. Payment date: 17 August 2023. Payout ratio is on the higher end at 76%, and the cash payout ratio is above 100%. Trailing yield: 7.7%. Within top quartile of Taiwanese dividend payers (5.4%). Higher than average of industry peers (3.8%). Price Target Changed • Jun 09
Price target increased by 12% to NT$65.00 Up from NT$58.00, the current price target is provided by 1 analyst. New target price is approximately in line with last closing price of NT$64.60. Stock is up 7.5% over the past year. The company is forecast to post earnings per share of NT$6.73 for next year compared to NT$6.22 last year. Reported Earnings • Mar 18
Full year 2022 earnings: EPS and revenues exceed analyst expectations Full year 2022 results: EPS: NT$6.22 (up from NT$3.11 in FY 2021). Revenue: NT$11.4b (down 16% from FY 2021). Net income: NT$2.59b (up 103% from FY 2021). Profit margin: 23% (up from 9.4% in FY 2021). The increase in margin was driven by lower expenses. Revenue exceeded analyst estimates by 3.0%. Earnings per share (EPS) also surpassed analyst estimates by 5.6%. Revenue is expected to fall by 3.5% p.a. on average during the next 2 years compared to a 1.1% decline forecast for the Metals and Mining industry in Taiwan. 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 20% per year, which means it is significantly lagging earnings growth. Announcement • Feb 16
Evergreen Steel Corp., Annual General Meeting, Jun 20, 2023 Evergreen Steel Corp., Annual General Meeting, Jun 20, 2023. Location: Conference Room on the 10th floor, International Convention Center of Chang Yung-Fa Foundation, No.11, Zhongshan S. Road, Taipei City Taiwan Agenda: To consider and approve the business report of the year 2022; to consider and approve the re-election of seven directors including three independent directors of the company; and to consider other matters. Announcement • Dec 23
Evergreen Steel Corp. Announces Corporate Governance Officer Changes Evergreen Steel Corp. announced the resignation of Yang Xiu-Hui as Corporate Governance Officer and appointed Lee Kang-Hsuan as Corporate Governance Officer of the company, with effect from January 1, 2023. Major Estimate Revision • Dec 22
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast fell from NT$13.2b to NT$11.1b. EPS estimate increased from NT$5.65 to NT$5.89 per share. Net income forecast to grow 2.2% next year vs 10% decline forecast for Metals and Mining industry in Taiwan. Consensus price target down from NT$67.00 to NT$58.00. Share price was steady at NT$52.70 over the past week. Price Target Changed • Dec 21
Price target decreased to NT$58.00 Down from NT$65.00, the current price target is provided by 1 analyst. New target price is 11% above last closing price of NT$52.40. Stock is down 4.6% over the past year. The company is forecast to post earnings per share of NT$5.89 for next year compared to NT$3.11 last year. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 5 non-independent directors. Independent Director Yuan-Lung Lien 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. Reported Earnings • Nov 13
Third quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behind Third quarter 2022 results: EPS: NT$1.28 (up from NT$1.16 in 3Q 2021). Revenue: NT$2.41b (down 30% from 3Q 2021). Net income: NT$535.9m (up 11% from 3Q 2021). Profit margin: 22% (up from 14% in 3Q 2021). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 29%. Earnings per share (EPS) exceeded analyst estimates by 15%. Revenue is expected to fall by 8.9% p.a. on average during the next 3 years compared to a 3.6% decline forecast for the Metals and Mining industry in Taiwan. Buying Opportunity • Oct 07
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 14%. The fair value is estimated to be NT$65.26, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 20% over the last 3 years. Earnings per share has grown by 20%. Revenue is forecast to decline by 14% in a year. Earnings is forecast to grow by 2.7% in the next year. Upcoming Dividend • Aug 22
Upcoming dividend of NT$3.00 per share Eligible shareholders must have bought the stock before 29 August 2022. Payment date: 16 September 2022. Payout ratio is a comfortable 54% and this is well supported by cash flows. Trailing yield: 4.7%. Lower than top quartile of Taiwanese dividend payers (6.4%). Lower than average of industry peers (8.7%). Major Estimate Revision • Aug 19
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast fell from NT$13.5b to NT$13.2b. EPS estimate rose from NT$4.72 to NT$5.68. Net income forecast to grow 2.7% next year vs 16% decline forecast for Metals and Mining industry in Taiwan. Consensus price target of NT$76.00 unchanged from last update. Share price was steady at NT$63.50 over the past week. Reported Earnings • Aug 16
Second quarter 2022 earnings: EPS and revenues exceed analyst expectations Second quarter 2022 results: EPS: NT$2.90 (up from NT$0.60 in 2Q 2021). Revenue: NT$3.33b (up 28% from 2Q 2021). Net income: NT$1.21b (up 384% from 2Q 2021). Profit margin: 36% (up from 9.6% in 2Q 2021). The increase in margin was primarily driven by higher revenue. Revenue exceeded analyst estimates by 14%. Earnings per share (EPS) also surpassed analyst estimates by 333%. Over the next year, revenue is expected to shrink by 13% compared to a 5.4% decline forecast for the Metals and Mining industry in Taiwan. Announcement • Jun 11
Evergreen Steel Corp. Announces Dismissal of the First Remuneration Committee Members Evergreen Steel Corp. announced the dismissal of the first Remuneration Committee members of the company. Name of the previous position holder: Mr. Lee, Kuan-Hsien; Mr. Lien, Yuan-Lung; Ms. Chiang, Jui-Chin. Date of occurrence of the change is June 10, 2022. Reported Earnings • May 16
First quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2022 results: EPS: NT$0.82 (up from NT$0.65 in 1Q 2021). Revenue: NT$3.39b (up 11% from 1Q 2021). Net income: NT$343.2m (up 33% from 1Q 2021). Profit margin: 10% (up from 8.4% in 1Q 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 5.9%. Earnings per share (EPS) missed analyst estimates by 2.2%. Over the next year, revenue is expected to shrink by 6.0% compared to a 5.0% growth forecast for the industry in Taiwan. Price Target Changed • Apr 27
Price target increased to NT$76.00 Up from NT$65.00, the current price target is provided by 1 analyst. New target price is 30% above last closing price of NT$58.40. Stock is down 5.8% over the past year. The company is forecast to post earnings per share of NT$4.68 for next year compared to NT$3.11 last year. Board Change • Apr 27
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Kuan-Hsien Lee was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Announcement • Apr 13
Evergreen Steel Corp. Announces Board Changes Evergreen Steel Corp. announced the change of representative of juristic-person director of the company. Name of the previous position holder: Mr. Chang, Kuo-Hua and Ms. Ko, Lee-Ching. Resume of the previous position holder: Mr. Chang, Kuo-Hua: The Director of Evergreen Steel Corp.; and Ms. Ko, Lee-Ching: The Director of Evergreen Steel Corp. Name of the new position holder: Mr. Cheng, Shen-Chih and Mr. Chen, Chao-Lung. Resume of the new position holder: Mr. Cheng, Shen-Chih: Vice Group Chairman of Evergreen Group & Chairman of EVA Airways; and Mr. Chen, Chao-Lung: Attorney-at-Law of Discernment Law Firm and Director of Sunmax Biotechnology Co.,Ltd. Effective date of the new appointment is April 12, 2022. Reported Earnings • Apr 04
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: EPS: NT$3.11 (up from NT$2.65 in FY 2020). Revenue: NT$13.6b (up 46% from FY 2020). Net income: NT$1.28b (up 23% from FY 2020). Profit margin: 9.4% (down from 11% in FY 2020). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 9.6%. Earnings per share (EPS) also missed analyst estimates by 2.2%. Over the next year, revenue is forecast to grow 2.3%, compared to a 8.0% growth forecast for the mining industry in Taiwan. Major Estimate Revision • Apr 01
Consensus EPS estimates increase by 12% The consensus outlook for earnings per share (EPS) in 2022 has improved. 2022 revenue forecast increased from NT$13.3b to NT$13.9b. EPS estimate increased from NT$4.18 to NT$4.68 per share. Net income forecast to grow 44% next year vs 1.3% decline forecast for Metals and Mining industry in Taiwan. Consensus price target up from NT$65.00 to NT$76.00. Share price rose 3.5% to NT$62.10 over the past week. Announcement • Mar 23
Evergreen Steel Corp., Annual General Meeting, Jun 10, 2022 Evergreen Steel Corp., Annual General Meeting, Jun 10, 2022. Location: Meeting Room on the 8th floor, International Convention Center of Chang Yung-Fa Foundation, No.11, Zhongshan S. Road, Taipei City Taiwan Agenda: To consider Business Report of the year 2021; to consider Audit Committee's Review Report of the year 2021; to consider 2021 Compensation of Employees and Directors Report; to consider 2021 Directors' Remuneration Report; and to consider other matters. Reported Earnings • Nov 15
Third quarter 2021 earnings released: EPS NT$1.16 (vs NT$0.95 in 3Q 2020) The company reported a solid third quarter result with improved earnings and revenues, although profit margins were weaker. Third quarter 2021 results: Revenue: NT$3.43b (up 48% from 3Q 2020). Net income: NT$484.8m (up 29% from 3Q 2020). Profit margin: 14% (down from 16% in 3Q 2020). The decrease in margin was driven by higher expenses. Price Target Changed • Nov 09
Price target decreased to NT$65.00 Down from NT$72.00, the current price target is provided by 1 analyst. New target price is 27% above last closing price of NT$51.00. Stock is up 12% over the past year. The company is forecast to post earnings per share of NT$2.95 for next year compared to NT$2.65 last year. Upcoming Dividend • Aug 23
Upcoming dividend of NT$2.09 per share Eligible shareholders must have bought the stock before 30 August 2021. Payment date: 17 September 2021. Trailing yield: 4.0%. Lower than top quartile of Taiwanese dividend payers (5.3%). Higher than average of industry peers (1.6%). Valuation Update With 7 Day Price Move • Jun 21
Investor sentiment improved over the past week After last week's 17% share price gain to NT$60.90, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 10x in the Metals and Mining industry in Taiwan. Total returns to shareholders of 58% over the past year. Reported Earnings • May 15
First quarter 2021 earnings released: EPS NT$0.65 (vs NT$0.54 in 1Q 2020) The company reported a solid first quarter result with improved earnings and revenues, although profit margins were weaker. First quarter 2021 results: Revenue: NT$3.05b (up 37% from 1Q 2020). Net income: NT$257.4m (up 21% from 1Q 2020). Profit margin: 8.4% (down from 9.6% in 1Q 2020). The decrease in margin was driven by higher expenses. Valuation Update With 7 Day Price Move • Apr 02
Investor sentiment improved over the past week After last week's 16% share price gain to NT$70.30, the stock trades at a forward P/E ratio of 24x. Average forward P/E is 14x in the Metals and Mining industry in Taiwan. Total returns to shareholders of 125% over the past year. Reported Earnings • Mar 19
Full year 2020 earnings released: EPS NT$2.65 (vs NT$2.44 in FY 2019) The company reported a solid full year result with improved earnings and revenues, although profit margins were flat. Full year 2020 results: Revenue: NT$9.35b (up 13% from FY 2019). Net income: NT$1.04b (up 10% from FY 2019). Profit margin: 11% (in line with FY 2019). Valuation Update With 7 Day Price Move • Feb 27
Investor sentiment improved over the past week After last week's 16% share price gain to NT$53.70, the stock is trading at a trailing P/E ratio of 20.8x, up from the previous P/E ratio of 17.9x. This compares to an average P/E of 25x in the Metals and Mining industry in Taiwan. Total returns to shareholders over the past year are 43%. Is New 90 Day High Low • Feb 24
New 90-day high: NT$47.10 The company is up 6.0% from its price of NT$44.60 on 26 November 2020. The Taiwanese market is up 19% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 13% over the same period. Is New 90 Day High Low • Jan 30
New 90-day low: NT$44.55 The company is down 2.0% from its price of NT$45.30 on 30 October 2020. The Taiwanese market is up 20% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 11% over the same period.