Reported Earnings • May 14
First quarter 2026 earnings released: EPS: NT$2.00 (vs NT$1.47 in 1Q 2025) First quarter 2026 results: EPS: NT$2.00 (up from NT$1.47 in 1Q 2025). Revenue: NT$1.94b (up 20% from 1Q 2025). Net income: NT$358.5m (up 63% from 1Q 2025). Profit margin: 19% (up from 14% in 1Q 2025). The increase in margin was driven by higher revenue. 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 1% per year. Upcoming Dividend • Mar 20
Upcoming dividend of NT$7.50 per share Eligible shareholders must have bought the stock before 24 March 2026. Payment date: 17 April 2026. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 6.7%. Within top quartile of Taiwanese dividend payers (5.3%). Higher than average of industry peers (4.2%). Declared Dividend • Mar 06
Dividend of NT$7.50 announced Shareholders will receive a dividend of NT$7.50. Ex-date: 24th March 2026 Payment date: 17th April 2026 Dividend yield will be 7.0%, which is higher than the industry average of 4.3%. Sustainability & Growth Dividend is not covered by earnings (103% earnings payout ratio). However, it is covered by cash flows (54% cash payout ratio). The dividend has increased by an average of 13% 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 15% to bring the payout ratio under control. However, EPS has remained steady over the last 5 years so the company would need to improve on their historical growth rates. Reported Earnings • Mar 05
Full year 2025 earnings released: EPS: NT$7.93 (vs NT$7.75 in FY 2024) Full year 2025 results: EPS: NT$7.93 (up from NT$7.75 in FY 2024). Revenue: NT$6.52b (down 3.8% from FY 2024). Net income: NT$1.19b (up 4.3% from FY 2024). Profit margin: 18% (up from 17% in FY 2024). The increase in margin was driven by lower expenses. 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 8% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Nov 13
Third quarter 2025 earnings released: EPS: NT$1.69 (vs NT$1.85 in 3Q 2024) Third quarter 2025 results: EPS: NT$1.69 (down from NT$1.85 in 3Q 2024). Revenue: NT$1.60b (down 12% from 3Q 2024). Net income: NT$253.9m (down 7.9% from 3Q 2024). Profit margin: 16% (in line with 3Q 2024). 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 10% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Aug 10
Second quarter 2025 earnings released: EPS: NT$2.68 (vs NT$2.64 in 2Q 2024) Second quarter 2025 results: EPS: NT$2.68 (up from NT$2.64 in 2Q 2024). Revenue: NT$1.56b (down 5.8% from 2Q 2024). Net income: NT$401.3m (up 1.9% from 2Q 2024). Profit margin: 26% (up from 24% in 2Q 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 5% per year whereas the company’s share price has increased by 10% per year. Reported Earnings • May 08
First quarter 2025 earnings released: EPS: NT$1.47 (vs NT$1.83 in 1Q 2024) First quarter 2025 results: EPS: NT$1.47 (down from NT$1.83 in 1Q 2024). Revenue: NT$1.61b (down 6.5% from 1Q 2024). Net income: NT$220.5m (down 14% from 1Q 2024). Profit margin: 14% (down from 15% in 1Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 14% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • May 07
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to NT$118, the stock trades at a trailing P/E ratio of 15.5x. Average trailing P/E is 26x in the Entertainment industry in Taiwan. Total returns to shareholders of 71% over the past three years. Buy Or Sell Opportunity • May 06
Now 20% overvalued The stock has been flat over the last 90 days, currently trading at NT$120. The fair value is estimated to be NT$99.58, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 5.6%. Announcement • May 01
Soft-World International Corporation to Report Q1, 2025 Results on May 07, 2025 Soft-World International Corporation announced that they will report Q1, 2025 results on May 07, 2025 Announcement • Apr 08
Soft-World International Corporation Receives the Civil Judgment Document from Intellectual Property and Commercial Court Parties to the legal matter: Plaintiff: Wanin International Co. Ltd. Defendant: Soft-World International Corporation, WANG CHIN-PO, CHANG HUNG-YUAN, SHIH MING-HAO, SHYU SO-DE, LIN HSUAN-CHU, PAN MING-TSAN. .Name of the court or punishing agency of the legal matter: Intellectual Property and Commercial Court .Reference/Case number of relevant documents of the legal matter: Civil Judgement No. 11, 2024, from the Intellectual Property and Commercial Court .Date of occurrence of the event: April 07, 2025. Details of occurrence (including the matter under dispute): The Company has received the civil judgement document No. 11, 2024,from the Intellectual Property and Commercial Court. The dispositive portion of the judgment is as follows: The Plaintiff¡'s action and the request for provisional execution are denied; The costs of the proceedings shall be borne by the Plaintiff. Handling procedure: Concerning Soft-World's Share Exchange resolution, the plaintiffs, Wanin has filed a lawsuit against the Company and its directors in the Intellectual Property and Commercial Court, and requested that the company along with WANG CHIN-PO and 5 directors, to pay the Plaintiff Wanin amounting to NT$112,750,600 Dollars plus interest and provisional execution. The share exchange has been examined and confirmed by Commercial Court that did not violate Article 223 of the Company Act (as applied mutatis mutandis under Paragraph 3, Article 14-4 of Securities and Exchange Act), Paragraph 2 and 3, Article 5 of the Regulations Governing Procedure for Board of Directors Meeting, Subparagraph 3, Paragraph 1, Article 7 and Paragraph 1, Article 19 of the Regulations Governing the Acquisition and Disposal. Furthermore, WANG CHIN-PO and 5 directors were not found to have breached their fiduciary duty or the responsibility. Accordingly, the Court denied the Plaintiff's action and the request for provisional execution. Impact on the Company's finance and business and projected amount: There is no impact on Soft-World's finances and business operations. Buy Or Sell Opportunity • Mar 20
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 2.8% to NT$129. The fair value is estimated to be NT$107, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 5.6%. Upcoming Dividend • Mar 17
Upcoming dividend of NT$7.50 per share Eligible shareholders must have bought the stock before 24 March 2025. Payment date: 18 April 2025. Payout ratio and cash payout ratio are on the higher end at 97% and 86% respectively. Trailing yield: 6.0%. Within top quartile of Taiwanese dividend payers (4.5%). Higher than average of industry peers (2.9%). Reported Earnings • Mar 09
Full year 2024 earnings released: EPS: NT$7.75 (vs NT$7.09 in FY 2023) Full year 2024 results: EPS: NT$7.75 (up from NT$7.09 in FY 2023). Revenue: NT$6.77b (up 8.4% from FY 2023). Net income: NT$1.14b (up 33% from FY 2023). Profit margin: 17% (up from 14% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has increased by 12% per year, which means it is tracking significantly ahead of earnings growth. Declared Dividend • Feb 28
Dividend reduced to NT$7.50 Dividend of NT$7.50 is 17% lower than last year. Ex-date: 24th March 2025 Payment date: 18th April 2025 Dividend yield will be 5.7%, which is higher than the industry average of 4.3%. Sustainability & Growth Dividend is not covered by earnings (113% earnings payout ratio). However, it is covered by cash flows (79% cash payout ratio). The dividend has increased by an average of 17% 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 25% to bring the payout ratio under control, which is more than the 6.8% EPS growth achieved over the last 5 years. Announcement • Feb 19
Soft-World International Corporation to Report Q4, 2024 Results on Feb 26, 2025 Soft-World International Corporation announced that they will report Q4, 2024 results on Feb 26, 2025 Reported Earnings • Nov 14
Third quarter 2024 earnings released: EPS: NT$1.85 (vs NT$1.56 in 3Q 2023) Third quarter 2024 results: EPS: NT$1.85 (up from NT$1.56 in 3Q 2023). Revenue: NT$1.82b (up 27% from 3Q 2023). Net income: NT$275.5m (up 45% from 3Q 2023). Profit margin: 15% (up from 13% in 3Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 13% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Oct 31
Soft-World International Corporation to Report Q3, 2024 Results on Nov 06, 2024 Soft-World International Corporation announced that they will report Q3, 2024 results on Nov 06, 2024 Reported Earnings • Aug 13
Second quarter 2024 earnings released: EPS: NT$2.64 (vs NT$1.77 in 2Q 2023) Second quarter 2024 results: EPS: NT$2.64 (up from NT$1.77 in 2Q 2023). Revenue: NT$1.65b (up 3.3% from 2Q 2023). Net income: NT$394.0m (up 84% from 2Q 2023). Profit margin: 24% (up from 13% in 2Q 2023). The increase in margin was primarily driven by lower expenses. 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 11% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jul 31
Soft-World International Corporation to Report Q2, 2024 Results on Aug 07, 2024 Soft-World International Corporation announced that they will report Q2, 2024 results on Aug 07, 2024 New Risk • May 26
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 23% 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: Minor Risks Dividend is not well covered by earnings (133% payout ratio). Shareholders have been diluted in the past year (23% increase in shares outstanding). Reported Earnings • May 15
First quarter 2024 earnings released: EPS: NT$1.83 (vs NT$2.17 in 1Q 2023) First quarter 2024 results: EPS: NT$1.83 (down from NT$2.17 in 1Q 2023). Revenue: NT$1.72b (up 3.9% from 1Q 2023). Net income: NT$256.1m (down 2.6% from 1Q 2023). Profit margin: 15% (down from 16% 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 1% per year but the company’s share price has increased by 11% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Apr 04
Soft-World International Corporation, Annual General Meeting, Jun 24, 2024 Soft-World International Corporation, Annual General Meeting, Jun 24, 2024. Location: M3 Banquet Hall, Howard Plaza Hotel Kaohsiung Kaohsiung Taiwan Agenda: To approve 2023 Business Report; to discuss amendments to the Company's Corporate Charter; to discuss amendments to the Company's Procedures for Asset Acquisition & Disposal; to elect directors; to approve 2023 Audit Committee's Review Report; to approve 2023 Directors' Remuneration Report; and to consider and approve other matters of business. Buy Or Sell Opportunity • Mar 21
Now 23% overvalued Over the last 90 days, the stock has fallen 2.1% to NT$167. The fair value is estimated to be NT$135, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 5.1% over the last 3 years, while earnings per share has been flat. Upcoming Dividend • Mar 15
Upcoming dividend of NT$9.00 per share Eligible shareholders must have bought the stock before 22 March 2024. Payment date: 19 April 2024. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 5.8%. Within top quartile of Taiwanese dividend payers (4.8%). Higher than average of industry peers (3.5%). Reported Earnings • Mar 13
Full year 2023 earnings released: EPS: NT$7.09 (vs NT$6.90 in FY 2022) Full year 2023 results: EPS: NT$7.09 (up from NT$6.90 in FY 2022). Revenue: NT$6.25b (up 2.5% from FY 2022). Net income: NT$859.8m (up 2.8% from FY 2022). Profit margin: 14% (in line with FY 2022). Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 12% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Mar 12
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$157, the stock trades at a trailing P/E ratio of 20.6x. Average forward P/E is 19x in the Entertainment industry in Taiwan. Total returns to shareholders of 82% over the past three years. Announcement • Mar 07
Soft-World International Corporation Announces Cash Dividend for 2023, Payable on April 19, 2024 Soft-World International Corporation announced cash dividend for 2023. Cash dividends distributed from retained earnings is TWD 1,088,593,324 (TWD 7 per share). Cash dividends distributed from capital surplus is TWD 311,026,664 (TWD 2 per share). Ex-rights (Ex-dividend) date is March 22, 2024; Ex-rights (Ex-dividend) record date is March 30, 2024; Payment date of cash dividend distribution is April 19, 2024. Valuation Update With 7 Day Price Move • Jan 24
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$174, the stock trades at a trailing P/E ratio of 22.8x. Average forward P/E is 17x in the Entertainment industry in Taiwan. Total returns to shareholders of 96% over the past three years. Valuation Update With 7 Day Price Move • Dec 26
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to NT$142, the stock trades at a trailing P/E ratio of 18.7x. Average forward P/E is 18x in the Entertainment industry in Taiwan. Total returns to shareholders of 72% over the past three years. New Risk • Nov 28
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 5.8% 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. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by earnings (91% payout ratio). Share price has been volatile over the past 3 months (5.8% average weekly change). Valuation Update With 7 Day Price Move • Nov 22
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to NT$118, the stock trades at a trailing P/E ratio of 15.5x. Average forward P/E is 18x in the Entertainment industry in Taiwan. Total returns to shareholders of 59% over the past three years. Reported Earnings • Aug 10
Second quarter 2023 earnings released: EPS: NT$1.77 (vs NT$1.52 in 2Q 2022) Second quarter 2023 results: EPS: NT$1.77 (up from NT$1.52 in 2Q 2022). Revenue: NT$1.60b (up 11% from 2Q 2022). Net income: NT$214.6m (up 17% from 2Q 2022). Profit margin: 13% (in line with 2Q 2022). Revenue is forecast to grow 2.1% 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 remained flat whereas the company’s share price has fallen by 3% per year. Valuation Update With 7 Day Price Move • Jun 05
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$110, the stock trades at a trailing P/E ratio of 14.6x. Average trailing P/E is 19x in the Entertainment industry in Taiwan. Total returns to shareholders of 25% over the past three years. Upcoming Dividend • Apr 19
Upcoming dividend of NT$7.00 per share at 7.1% yield Eligible shareholders must have bought the stock before 26 April 2023. Payment date: 26 May 2023. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 7.1%. Within top quartile of Taiwanese dividend payers (5.7%). Higher than average of industry peers (6.0%). Reported Earnings • Mar 21
Full year 2022 earnings released: EPS: NT$6.90 (vs NT$6.84 in FY 2021) Full year 2022 results: EPS: NT$6.90 (up from NT$6.84 in FY 2021). Revenue: NT$6.10b (down 7.6% from FY 2021). Net income: NT$836.4m (flat on FY 2021). Profit margin: 14% (up from 13% in FY 2021). The increase in margin was driven by lower expenses. 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 11% per year, which means it is tracking significantly ahead of earnings growth. 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 So-De Shyu 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 13
Third quarter 2022 earnings released: EPS: NT$1.70 (vs NT$1.67 in 3Q 2021) Third quarter 2022 results: EPS: NT$1.70 (up from NT$1.67 in 3Q 2021). Revenue: NT$1.53b (down 10.0% from 3Q 2021). Net income: NT$205.9m (up 1.8% from 3Q 2021). Profit margin: 14% (up from 12% in 3Q 2021). The increase in margin was driven by lower expenses. Revenue is forecast to grow 8.2% p.a. on average during the next 2 years, compared to a 5.9% growth forecast for the Entertainment industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Announcement • Nov 10
Soft-World International Corporation Appoints Wang, Chin-Po as Chief Information Security Officer Soft-World International Corporation announced the appointment of Wang, Chin-Po, President of Soft-World International Corporation, as Chief Information Security Officer of the company, with effect from November 9, 2022. Reported Earnings • Aug 13
Second quarter 2022 earnings released: EPS: NT$1.52 (vs NT$2.00 in 2Q 2021) Second quarter 2022 results: EPS: NT$1.52 (down from NT$2.00 in 2Q 2021). Revenue: NT$1.45b (down 17% from 2Q 2021). Net income: NT$184.1m (down 24% from 2Q 2021). Profit margin: 13% (down from 14% in 2Q 2021). The decrease in margin was driven by lower revenue. Over the next year, revenue is forecast to grow 8.7%, compared to a 18% growth forecast for the industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Announcement • Aug 05
Soft-World International Corporation Announces Cash Dividend, Payable on September 8, 2022 Soft-World International Corporation announced Cash dividend of TWD 50,033,923 with record date September 1, 2022 and Payment date of September 8, 2022. Reported Earnings • May 17
First quarter 2022 earnings released: EPS: NT$1.58 (vs NT$1.58 in 1Q 2021) First quarter 2022 results: EPS: NT$1.58 (up from NT$1.58 in 1Q 2021). Revenue: NT$1.48b (down 15% from 1Q 2021). Net income: NT$192.0m (flat on 1Q 2021). Profit margin: 13% (up from 11% in 1Q 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Price Target Changed • Apr 27
Price target decreased to NT$101 Down from NT$113, the current price target is provided by 1 analyst. New target price is 16% above last closing price of NT$86.80. Stock is down 26% over the past year. The company posted earnings per share of NT$6.84 last 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. 4 non-independent directors. Independent Director So-De Shyu 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. Upcoming Dividend • Apr 14
Upcoming dividend of NT$5.20 per share Eligible shareholders must have bought the stock before 21 April 2022. Payment date: 20 May 2022. Payout ratio is on the higher end at 76%, however this is supported by cash flows. Trailing yield: 5.7%. Within top quartile of Taiwanese dividend payers (5.7%). In line with average of industry peers (5.7%). Announcement • Apr 07
Soft-World International Corporation, Annual General Meeting, Jun 21, 2022 Soft-World International Corporation, Annual General Meeting, Jun 21, 2022. Reported Earnings • Mar 18
Full year 2021 earnings: EPS in line with expectations, revenues disappoint Full year 2021 results: EPS: NT$6.84 (down from NT$7.76 in FY 2020). Revenue: NT$6.60b (down 9.2% from FY 2020). Net income: NT$829.9m (down 12% from FY 2020). Profit margin: 13% (in line with FY 2020). Revenue missed analyst estimates by 4.4%. Over the next year, revenue is forecast to grow 9.2%, compared to a 20% growth forecast for the industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Dec 20
Investor sentiment improved over the past week After last week's 17% share price gain to NT$110, the stock trades at a trailing P/E ratio of 16x. Average forward P/E is 19x in the Entertainment industry in Taiwan. Total returns to shareholders of 85% over the past three years. Price Target Changed • Dec 17
Price target decreased to NT$101 Down from NT$113, the current price target is provided by 1 analyst. New target price is approximately in line with last closing price of NT$100.00. Stock is up 5.8% over the past year. The company posted earnings per share of NT$7.76 last year. Reported Earnings • Nov 15
Third quarter 2021 earnings released: EPS NT$1.67 (vs NT$2.00 in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$1.70b (down 5.5% from 3Q 2020). Net income: NT$202.2m (down 17% from 3Q 2020). Profit margin: 12% (down from 14% in 3Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Aug 20
Upcoming dividend of NT$6.00 per share Eligible shareholders must have bought the stock before 27 August 2021. Payment date: 17 September 2021. Trailing yield: 6.3%. Within top quartile of Taiwanese dividend payers (5.3%). Higher than average of industry peers (5.6%). Executive Departure • Aug 04
Director Ching-Jung Chen has left the company On the 30th of July, Ching-Jung Chen's tenure as Director ended after 3.1 years in the role. We don't have any record of a personal shareholding under Ching-Jung's name. A total of 2 executives have left over the last 12 months. The current median tenure of the management team is 17.17 years. Price Target Changed • Jul 20
Price target increased to NT$125 Up from NT$113, the current price target is an average from 2 analysts. New target price is 17% above last closing price of NT$107. Stock is down 4.9% over the past year. Price Target Changed • May 19
Price target decreased to NT$113 Down from NT$130, the current price target is provided by 1 analyst. New target price is approximately in line with last closing price of NT$115. Stock is down 1.3% over the past year. Reported Earnings • May 15
First quarter 2021 earnings released: EPS NT$1.58 (vs NT$2.08 in 1Q 2020) The company reported a poor first quarter result with weaker earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$1.74b (down 9.5% from 1Q 2020). Net income: NT$191.2m (down 25% from 1Q 2020). Profit margin: 11% (down from 13% in 1Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Announcement • Mar 19
Soft-World International Corporation Announces Cash Dividend for the Year Ended December 31, 2020 Soft-World International Corporation announces cash dividend of TWD 6 for the year ended December 31, 2020. Reported Earnings • Mar 18
Full year 2020 earnings released: EPS NT$7.76 (vs NT$5.00 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$7.27b (up 25% from FY 2019). Net income: NT$943.8m (up 55% from FY 2019). Profit margin: 13% (up from 11% 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 37% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Is New 90 Day High Low • Jan 18
New 90-day high: NT$110 The company is up 29% from its price of NT$85.10 on 21 October 2020. The Taiwanese market is up 20% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Entertainment industry, which is up 6.0% over the same period. Is New 90 Day High Low • Dec 28
New 90-day high: NT$98.00 The company is up 15% from its price of NT$85.40 on 30 September 2020. The Taiwanese market is also up 15% over the last 90 days, indicating the company’s price trend is similar to the market over that time. However, it outperformed the Entertainment industry, which is up 1.0% over the same period. Is New 90 Day High Low • Dec 09
New 90-day high: NT$93.30 The company is up 4.0% from its price of NT$89.30 on 10 September 2020. The Taiwanese market is up 13% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Entertainment industry, which is down 6.0% over the same period. Reported Earnings • Nov 13
Third quarter 2020 earnings released: EPS NT$2.00 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: NT$1.80b (up 23% from 3Q 2019). Net income: NT$243.3m (up 66% from 3Q 2019). Profit margin: 14% (up from 10.0% 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 33% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Analyst Estimate Surprise Post Earnings • Nov 13
Revenue beats expectations Revenue exceeded analyst estimates by 1.0%. Is New 90 Day High Low • Oct 27
New 90-day low: NT$81.70 The company is down 20% from its price of NT$102 on 29 July 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 3.0% over the same period. Is New 90 Day High Low • Sep 23
New 90-day low: NT$88.10 The company is down 22% from its price of NT$113 on 24 June 2020. The Taiwanese market is up 10.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Entertainment industry, which is down 6.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is NT$205 per share. 