Reported Earnings • May 13
First quarter 2026 earnings released: EPS: NT$11.00 (vs NT$9.32 in 1Q 2025) First quarter 2026 results: EPS: NT$11.00 (up from NT$9.32 in 1Q 2025). Revenue: NT$6.26b (up 17% from 1Q 2025). Net income: NT$3.15b (up 20% from 1Q 2025). Profit margin: 50% (up from 49% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 14% p.a. on average during the next 2 years, compared to a 8.3% growth forecast for the Entertainment industry in Asia. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has increased by 38% per year, which means it is tracking significantly ahead of earnings growth. Buy Or Sell Opportunity • Apr 21
Now 21% undervalued Over the last 90 days, the stock has risen 8.5% to NT$776. The fair value is estimated to be NT$977, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 22% over the last 3 years. Earnings per share has grown by 25%. Revenue is forecast to grow by 32% in 2 years. Earnings are forecast to grow by 39% in the next 2 years. New Risk • Mar 22
New minor risk - Dividend sustainability The dividend is not well covered by earnings. Payout ratio: 93% Dividend yield: 4.8% This is considered a minor risk. Companies that pay out too much of their earnings are at risk of having to reduce or cut their dividend in future. If earnings growth slows or earnings fall, then there may not be enough earnings to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. However, this risk is mitigated by the fact the dividend is covered by cash flows. For dividend paying companies, any reduction in the dividend can significantly impact the share price. This is currently the only risk that has been identified for the company. Reported Earnings • Mar 13
Full year 2025 earnings released: EPS: NT$38.51 (vs NT$32.14 in FY 2024) Full year 2025 results: EPS: NT$38.51 (up from NT$32.14 in FY 2024). Revenue: NT$22.0b (up 19% from FY 2024). Net income: NT$10.9b (up 20% from FY 2024). Profit margin: 49% (in line with FY 2024). Revenue is forecast to grow 14% p.a. on average during the next 2 years, compared to a 9.3% growth forecast for the Entertainment industry in Asia. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has increased by 37% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Mar 09
International Games System Co.,Ltd., Annual General Meeting, Jun 22, 2026 International Games System Co.,Ltd., Annual General Meeting, Jun 22, 2026. Location: no,9, wu kung 6th rd., wugu district, new taipei city Taiwan Reported Earnings • Nov 07
Third quarter 2025 earnings released: EPS: NT$9.90 (vs NT$7.71 in 3Q 2024) Third quarter 2025 results: EPS: NT$9.90 (up from NT$7.71 in 3Q 2024). Revenue: NT$5.38b (up 15% from 3Q 2024). Net income: NT$2.79b (up 28% from 3Q 2024). Profit margin: 52% (up from 46% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 15% p.a. on average during the next 2 years, compared to a 10% growth forecast for the Entertainment industry in Asia. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has increased by 56% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Aug 09
Second quarter 2025 earnings: EPS and revenues miss analyst expectations Second quarter 2025 results: EPS: NT$8.68 (up from NT$8.08 in 2Q 2024). Revenue: NT$5.60b (up 22% from 2Q 2024). Net income: NT$2.44b (up 7.4% from 2Q 2024). Profit margin: 44% (down from 50% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 1.3%. Earnings per share (EPS) also missed analyst estimates by 11%. Revenue is forecast to grow 17% p.a. on average during the next 2 years, compared to a 9.7% growth forecast for the Entertainment industry in Asia. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has increased by 57% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Jul 10
Upcoming dividend of NT$29.00 per share Eligible shareholders must have bought the stock before 17 July 2025. Payment date: 15 August 2025. Payout ratio and cash payout ratio are on the higher end at 85% and 98% respectively. Trailing yield: 3.5%. Lower than top quartile of Taiwanese dividend payers (5.4%). Lower than average of industry peers (4.0%). Declared Dividend • Jun 21
Dividend of NT$29.00 announced Shareholders will receive a dividend of NT$29.00. Ex-date: 17th July 2025 Payment date: 15th August 2025 Dividend yield will be 3.3%, which is lower than the industry average of 4.3%. Sustainability & Growth Dividend is covered by earnings (85% earnings payout ratio) but not adequately covered by cash flows (98% cash payout ratio). The dividend has increased by an average of 45% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 17% over the next year, which should provide support to the dividend and adequate earnings cover. Announcement • Jun 20
International Games System Co.,Ltd. Resolves Cash Dividend, Payable on August 15, 2025 International Games System Co.,Ltd. in its board of directors or shareholders meeting, or of the decision by the company held on June 19, 2025 resolved ex dividend: Each share is entitled to receive TWD 29 for a total cash amount of TWD 8,172,245,240. Ex-rights (Ex-dividend) date: July 17. 2025. Payment date of cash dividend distribution: August 15, 2025. Ex-rights (Ex-dividend) record date: July 23, 2025. Reported Earnings • May 15
First quarter 2025 earnings: EPS exceeds analyst expectations First quarter 2025 results: EPS: NT$9.32 (up from NT$7.23 in 1Q 2024). Revenue: NT$5.36b (up 28% from 1Q 2024). Net income: NT$2.63b (up 29% from 1Q 2024). Profit margin: 49% (in line with 1Q 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 2.0%. Revenue is forecast to grow 17% p.a. on average during the next 2 years, compared to a 10% growth forecast for the Entertainment industry in Asia. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has increased by 69% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 07
International Games System Co.,Ltd. to Report Q1, 2025 Results on May 14, 2025 International Games System Co.,Ltd. announced that they will report Q1, 2025 results on May 14, 2025 Price Target Changed • Apr 09
Price target decreased by 8.4% to NT$997 Down from NT$1,089, the current price target is an average from 3 analysts. New target price is 39% above last closing price of NT$715. Stock is up 31% over the past year. The company is forecast to post earnings per share of NT$38.46 for next year compared to NT$32.14 last year. New Risk • Apr 07
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 6.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 90% Cash payout ratio: 109% High level of non-cash earnings (67% accrual ratio). Minor Risk Share price has been volatile over the past 3 months (6.3% average weekly change). Valuation Update With 7 Day Price Move • Mar 13
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to NT$824, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 20x in the Entertainment industry in Asia. Total returns to shareholders of 423% over the past three years. Reported Earnings • Mar 08
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: NT$32.14 (up from NT$22.80 in FY 2023). Revenue: NT$18.5b (up 31% from FY 2023). Net income: NT$9.06b (up 41% from FY 2023). Profit margin: 49% (up from 45% in FY 2023). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 1.3%. 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 76% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Mar 07
International Games System Co.,Ltd., Annual General Meeting, Jun 19, 2025 International Games System Co.,Ltd., Annual General Meeting, Jun 19, 2025. Location: no,9, wu kung 6th rd., wugu district, new taipei city Taiwan New Risk • Dec 05
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 6.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (58% accrual ratio). Minor Risk Share price has been volatile over the past 3 months (6.3% average weekly change). Reported Earnings • Nov 17
Third quarter 2024 earnings: EPS and revenues miss analyst expectations Third quarter 2024 results: EPS: NT$7.71 (up from NT$6.19 in 3Q 2023). Revenue: NT$4.70b (up 31% from 3Q 2023). Net income: NT$2.17b (up 25% from 3Q 2023). Profit margin: 46% (down from 49% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 2.0%. Earnings per share (EPS) also missed analyst estimates by 2.9%. Revenue is forecast to grow 21% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Entertainment industry in Asia. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has increased by 69% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Sep 26
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to NT$990, the stock trades at a forward P/E ratio of 29x. Average forward P/E is 18x in the Entertainment industry in Asia. Total returns to shareholders of 591% over the past three years. Reported Earnings • Aug 14
Second quarter 2024 earnings: EPS exceeds analyst expectations Second quarter 2024 results: EPS: NT$8.08 (up from NT$5.91 in 2Q 2023). Revenue: NT$4.58b (up 32% from 2Q 2023). Net income: NT$2.28b (up 37% from 2Q 2023). Profit margin: 50% (up from 48% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 2.4%. Revenue is forecast to grow 21% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Entertainment industry in Asia. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has increased by 62% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Aug 05
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 6.8% 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. This is currently the only risk that has been identified for the company. Announcement • Aug 03
International Games System Co.,Ltd. to Report Q2, 2024 Results on Aug 12, 2024 International Games System Co.,Ltd. announced that they will report Q2, 2024 results on Aug 12, 2024 Valuation Update With 7 Day Price Move • Jul 29
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to NT$830, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 18x in the Entertainment industry in Asia. Total returns to shareholders of 367% over the past three years. Valuation Update With 7 Day Price Move • Jul 12
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$1,490, the stock trades at a forward P/E ratio of 23x. Average forward P/E is 18x in the Entertainment industry in Asia. Total returns to shareholders of 334% over the past three years. Declared Dividend • Jul 10
Dividend of NT$35.00 announced Shareholders will receive a dividend of NT$35.00. Ex-date: 24th July 2024 Payment date: 28th August 2024 Dividend yield will be 2.5%, which is lower than the industry average of 4.3%. Sustainability & Growth Dividend is covered by both earnings (70% earnings payout ratio) and cash flows (67% cash payout ratio). The dividend has increased by an average of 47% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 21% over the next year, which should provide support to the dividend and adequate earnings cover. Reported Earnings • May 12
First quarter 2024 earnings: EPS and revenues exceed analyst expectations First quarter 2024 results: EPS: NT$14.45 (up from NT$10.24 in 1Q 2023). Revenue: NT$4.18b (up 26% from 1Q 2023). Net income: NT$2.04b (up 41% from 1Q 2023). Profit margin: 49% (up from 43% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.2%. Earnings per share (EPS) also surpassed analyst estimates by 2.1%. Revenue is forecast to grow 16% p.a. on average during the next 2 years, compared to a 10% growth forecast for the Entertainment industry in Asia. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has increased by 39% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 02
International Games System Co.,Ltd. to Report Q1, 2024 Results on May 09, 2024 International Games System Co.,Ltd. announced that they will report Q1, 2024 results on May 09, 2024 New Risk • Mar 22
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 6.0% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.0% average weekly change). Reported Earnings • Mar 15
Full year 2023 earnings: EPS in line with analyst expectations despite revenue beat Full year 2023 results: EPS: NT$45.61 (up from NT$38.88 in FY 2022). Revenue: NT$14.2b (up 19% from FY 2022). Net income: NT$6.43b (up 17% from FY 2022). Profit margin: 45% (in line with FY 2022). Revenue exceeded analyst estimates by 1.5%. Earnings per share (EPS) were mostly in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has increased by 45% per year, which means it is tracking significantly ahead of earnings growth. Buy Or Sell Opportunity • Mar 13
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 48% to NT$1,165. The fair value is estimated to be NT$957, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has grown by 20%. Revenue is forecast to grow by 10.0% in a year. Earnings are forecast to grow by 12% in the next year. Announcement • Mar 08
International Games System Co.,Ltd., Annual General Meeting, Jun 24, 2024 International Games System Co.,Ltd., Annual General Meeting, Jun 24, 2024. Location: Labor Activity Center Performing Arts Hall (No. 9, Wugong 6th Rd., Wugu Dist New Taipei City Taiwan Agenda: To consider 2023 business report; to consider Audit Committee's review report of the 2023 financial report; to consider 2023 distributable compensation for employees and directors; to consider Reporting on the distribution of 2023 earnings as cash dividends; and to consider other matters. Valuation Update With 7 Day Price Move • Mar 07
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to NT$1,005, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 19x in the Entertainment industry in Asia. Total returns to shareholders of 217% over the past three years. Buying Opportunity • Dec 25
Now 20% undervalued Over the last 90 days, the stock is up 12%. The fair value is estimated to be NT$895, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has grown by 20%. Revenue is forecast to grow by 10.0% in a year. Earnings is forecast to grow by 12% in the next year. Reported Earnings • Nov 14
Third quarter 2023 earnings: EPS exceeds analyst expectations Third quarter 2023 results: EPS: NT$12.39 (up from NT$10.59 in 3Q 2022). Revenue: NT$3.58b (up 20% from 3Q 2022). Net income: NT$1.75b (up 17% from 3Q 2022). Profit margin: 49% (down from 50% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 5.2%. Revenue is forecast to grow 9.1% p.a. on average during the next 2 years, compared to a 8.7% growth forecast for the Entertainment industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 20% per year whereas the company’s share price has increased by 23% per year. Buying Opportunity • Aug 08
Now 21% undervalued Over the last 90 days, the stock is up 5.7%. The fair value is estimated to be NT$752, 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 23%. Upcoming Dividend • Jul 10
Upcoming dividend of NT$35.00 per share at 5.7% yield Eligible shareholders must have bought the stock before 17 July 2023. Payment date: 15 August 2023. Payout ratio is on the higher end at 88%, however this is supported by cash flows. Trailing yield: 5.7%. Within top quartile of Taiwanese dividend payers (5.5%). In line with average of industry peers (5.3%). Announcement • Jun 29
International Games System Co.,Ltd. Approves Cash Dividend, Payable on August 15, 2023 International Games System Co.,Ltd. at its shareholders’ meeting held on June 28, 2023 approved dividend of TWD 35 for a total cash amount of TWD 4,931,527,300. Ex-rights (Ex-dividend) date is July 17, 2023. Ex-rights (Ex-dividend) record date is July 23, 2023. Payment date of cash dividend distribution is August 15, 2023. Price Target Changed • Nov 16
Price target decreased to NT$370 Down from NT$461, the current price target is provided by 1 analyst. New target price is approximately in line with last closing price of NT$377. Stock is down 6.1% over the past year. The company is forecast to post earnings per share of NT$38.24 for next year compared to NT$33.60 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. 6 non-independent directors. Independent Director Chun Cheng Shi 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 06
Third quarter 2022 earnings: EPS exceeds analyst expectations Third quarter 2022 results: EPS: NT$10.59 (up from NT$8.54 in 3Q 2021). Revenue: NT$2.99b (up 4.6% from 3Q 2021). Net income: NT$1.49b (up 24% from 3Q 2021). Profit margin: 50% (up from 42% in 3Q 2021). The increase in margin was primarily driven by lower expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 4.1%. Revenue is forecast to grow 5.9% p.a. on average during the next 2 years, compared to a 5.6% growth forecast for the Entertainment industry in Taiwan. 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 23% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jul 20
Upcoming dividend of NT$50.00 per share Eligible shareholders must have bought the stock before 27 July 2022. Payment date: 31 August 2022. Payout ratio is a comfortable 72% and this is well supported by cash flows. Trailing yield: 6.7%. Lower than top quartile of Taiwanese dividend payers (6.8%). In line with average of industry peers (6.3%). Reported Earnings • May 11
First quarter 2022 earnings: EPS and revenues miss analyst expectations First quarter 2022 results: EPS: NT$18.74 (up from NT$16.73 in 1Q 2021). Revenue: NT$2.92b (up 6.0% from 1Q 2021). Net income: NT$1.32b (up 12% from 1Q 2021). Profit margin: 45% (up from 43% in 1Q 2021). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 2.5%. Earnings per share (EPS) also missed analyst estimates by 2.2%. Over the last 3 years on average, earnings per share has increased by 45% per year whereas the company’s share price has increased by 40% per year. 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. 6 non-independent directors. Independent Director Chun Cheng Shi 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. Announcement • Mar 31
International Games System Co.,Ltd., Annual General Meeting, Jun 27, 2022 International Games System Co.,Ltd., Annual General Meeting, Jun 27, 2022. Reported Earnings • Nov 09
Third quarter 2021 earnings released: EPS NT$17.09 (vs NT$13.22 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$2.86b (up 27% from 3Q 2020). Net income: NT$1.20b (up 29% from 3Q 2020). Profit margin: 42% (in line with 3Q 2020). Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has increased by 78% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Aug 16
Upcoming dividend of NT$42.00 per share Eligible shareholders must have bought the stock before 23 August 2021. Payment date: 17 September 2021. Trailing yield: 5.4%. Within top quartile of Taiwanese dividend payers (5.2%). In line with average of industry peers (5.3%). Reported Earnings • Aug 09
Second quarter 2021 earnings released: EPS NT$16.62 (vs NT$11.02 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: NT$2.85b (up 45% from 2Q 2020). Net income: NT$1.17b (up 51% from 2Q 2020). Profit margin: 41% (up from 40% 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 55% per year but the company’s share price has increased by 71% per year, which means it is tracking significantly ahead of earnings growth. Major Estimate Revision • May 12
Consensus revenue estimates increase to NT$12.3b The consensus outlook for revenues in 2021 has improved. 2021 revenue forecast increased from NT$11.0b to NT$12.3b. EPS estimate increased from NT$66.23 to NT$74.29 per share. Net income forecast to grow 46% next year vs 46% growth forecast for Entertainment industry in Taiwan. Consensus price target broadly unchanged at NT$976. Share price was steady at NT$730 over the past week. Reported Earnings • May 08
First quarter 2021 earnings released: EPS NT$16.73 (vs NT$11.24 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$2.75b (up 45% from 1Q 2020). Net income: NT$1.18b (up 49% from 1Q 2020). Profit margin: 43% (up from 42% 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 55% per year but the company’s share price has increased by 65% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Mar 26
Full year 2020 earnings released: EPS NT$48.38 (vs NT$28.08 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$8.43b (up 59% from FY 2019). Net income: NT$3.41b (up 73% from FY 2019). Profit margin: 41% (up from 37% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 53% per year but the company’s share price has increased by 64% per year, which means it is tracking significantly ahead of earnings growth. Is New 90 Day High Low • Feb 26
New 90-day high: NT$859 The company is up 21% from its price of NT$708 on 27 November 2020. The Taiwanese market is up 18% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Entertainment industry, which is up 9.0% over the same period. Is New 90 Day High Low • Jan 10
New 90-day high: NT$785 The company is up 1.0% from its price of NT$778 on 13 October 2020. The Taiwanese market is up 19% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Entertainment industry, which is up 7.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is NT$761 per share. Is New 90 Day High Low • Dec 05
New 90-day low: NT$672 The company is down 27% from its price of NT$920 on 04 September 2020. The Taiwanese market is up 11% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Entertainment industry, which is down 10.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is NT$667 per share. Is New 90 Day High Low • Nov 11
New 90-day low: NT$692 The company is down 6.0% from its price of NT$733 on 13 August 2020. The Taiwanese market is up 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Entertainment industry, which is down 5.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is NT$684 per share. Analyst Estimate Surprise Post Earnings • Nov 06
Revenue beats expectations Revenue exceeded analyst estimates by 0.3%. Over the next year, revenue is forecast to grow 40%, compared to a 24% growth forecast for the Entertainment industry in Taiwan. Reported Earnings • Nov 06
Third quarter 2020 earnings released: EPS NT$13.22 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: NT$2.25b (up 51% from 3Q 2019). Net income: NT$931.0m (up 57% from 3Q 2019). Profit margin: 41% (up from 40% in 3Q 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has increased by 70% per year, which means it is tracking significantly ahead of earnings growth.