Upcoming Dividend • May 26
Upcoming dividend of NT$4.81 per share Eligible shareholders must have bought the stock before 02 June 2026. Payment date: 30 June 2026. Payout ratio is a comfortable 67% but the company is paying out more than the cash it is generating. Trailing yield: 4.3%. Lower than top quartile of Taiwanese dividend payers (5.0%). Lower than average of industry peers (5.1%). Reported Earnings • May 13
First quarter 2026 earnings released: EPS: NT$2.00 (vs NT$1.01 in 1Q 2025) First quarter 2026 results: EPS: NT$2.00 (up from NT$1.01 in 1Q 2025). Revenue: NT$386.6m (up 58% from 1Q 2025). Net income: NT$68.4m (up 156% from 1Q 2025). Profit margin: 18% (up from 11% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue is expected to decline by 6.1% p.a. on average during the next 2 years, while revenues in the Media industry in Asia are expected to grow by 6.4%. 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 29% per year, which means it is tracking significantly ahead of earnings growth. Declared Dividend • May 08
Dividend reduced to NT$4.81 Dividend of NT$4.81 is 7.6% lower than last year. Ex-date: 2nd June 2026 Payment date: 30th June 2026 Dividend yield will be 6.1%, which is higher than the industry average of 5.2%. Sustainability & Growth Dividend is covered by earnings (87% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 6.1% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 36% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Mar 17
Full year 2025 earnings released: EPS: NT$4.03 (vs NT$6.85 in FY 2024) Full year 2025 results: EPS: NT$4.03 (down from NT$6.85 in FY 2024). Revenue: NT$1.02b (down 32% from FY 2024). Net income: NT$107.0m (down 40% from FY 2024). Profit margin: 11% (down from 12% in FY 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has increased by 34% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Mar 05
ELTA Technology Co.,Ltd., Annual General Meeting, May 21, 2026 ELTA Technology Co.,Ltd., Annual General Meeting, May 21, 2026, at 10:00 Taipei Standard Time. Location: no,2, hsu chou rd., jhongjheng district, taipei city Taiwan New Risk • Nov 12
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 111% The company is paying a dividend despite having no free cash flows. Dividend yield: 6.8% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough 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. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 111% Paying a dividend despite having no free cash flows. High level of non-cash earnings (50% accrual ratio). Minor Risk Market cap is less than US$100m (NT$2.02b market cap, or US$65.0m). Reported Earnings • Nov 12
Third quarter 2025 earnings released: EPS: NT$1.00 (vs NT$3.31 in 3Q 2024) Third quarter 2025 results: EPS: NT$1.00 (down from NT$3.31 in 3Q 2024). Revenue: NT$264.7m (down 65% from 3Q 2024). Net income: NT$26.6m (down 70% from 3Q 2024). Profit margin: 10.0% (down from 12% in 3Q 2024). The decrease in margin was driven by lower revenue. 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 40% per year, which means it is tracking significantly ahead of earnings growth. Buy Or Sell Opportunity • Oct 20
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 3.1% to NT$77.50. The fair value is estimated to be NT$99.08, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years. Earnings per share has grown by 32%. Buy Or Sell Opportunity • Oct 01
Now 20% undervalued Over the last 90 days, the stock has risen 3.2% to NT$80.00. The fair value is estimated to be NT$100, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years. Earnings per share has grown by 32%. Buy Or Sell Opportunity • Sep 03
Now 20% undervalued Over the last 90 days, the stock has risen 4.3% to NT$80.30. The fair value is estimated to be NT$101, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years. Earnings per share has grown by 32%. Buy Or Sell Opportunity • Aug 18
Now 21% undervalued Over the last 90 days, the stock has risen 1.7% to NT$79.80. The fair value is estimated to be NT$100, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years. Earnings per share has grown by 32%. Reported Earnings • Aug 07
Second quarter 2025 earnings released: EPS: NT$1.01 (vs NT$0.77 in 2Q 2024) Second quarter 2025 results: EPS: NT$1.01 (up from NT$0.77 in 2Q 2024). Revenue: NT$293.4m (up 28% from 2Q 2024). Net income: NT$26.7m (up 34% from 2Q 2024). Profit margin: 9.1% (up from 8.7% in 2Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has increased by 44% per year, which means it is tracking significantly ahead of earnings growth. Declared Dividend • May 17
Dividend increased to NT$5.20 Dividend of NT$5.20 is 16% higher than last year. Ex-date: 3rd June 2025 Payment date: 30th June 2025 Dividend yield will be 6.6%, which is higher than the industry average of 5.2%. Sustainability & Growth Dividend is covered by earnings (77% earnings payout ratio) but not covered by cash flows (248% cash payout ratio). The dividend has increased by an average of 12% per year over the past 9 years. However, payments have been volatile during that time. Earnings per share has grown by 73% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • May 14
First quarter 2025 earnings released: EPS: NT$1.01 (vs NT$1.08 in 1Q 2024) First quarter 2025 results: EPS: NT$1.01 (down from NT$1.08 in 1Q 2024). Revenue: NT$244.0m (up 22% from 1Q 2024). Net income: NT$26.8m (down 1.4% from 1Q 2024). Profit margin: 11% (down from 14% in 1Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has increased by 49% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 01
ELTA Technology Co.,Ltd. to Report Q1, 2025 Results on May 09, 2025 ELTA Technology Co.,Ltd. announced that they will report Q1, 2025 results on May 09, 2025 Reported Earnings • Mar 13
Full year 2024 earnings released: EPS: NT$6.85 (vs NT$5.98 in FY 2023) Full year 2024 results: EPS: NT$6.85 (up from NT$5.98 in FY 2023). Revenue: NT$1.49b (up 54% from FY 2023). Net income: NT$179.4m (up 32% from FY 2023). Profit margin: 12% (down from 14% 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 41% per year but the company’s share price has increased by 61% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Feb 27
ELTA Technology Co.,Ltd., Annual General Meeting, May 20, 2025 ELTA Technology Co.,Ltd., Annual General Meeting, May 20, 2025, at 10:00 Taipei Standard Time. Location: no,2, hsu chou rd., jhongjheng district, taipei city Taiwan Announcement • Feb 18
ELTA Technology Co.,Ltd. to Report Q4, 2024 Results on Feb 25, 2025 ELTA Technology Co.,Ltd. announced that they will report Q4, 2024 results on Feb 25, 2025 Buy Or Sell Opportunity • Nov 11
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 9.6% to NT$66.00. The fair value is estimated to be NT$83.48, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Meanwhile, the company has become profitable. Announcement • Oct 26
ELTA Technology Co.,Ltd. to Report Q3, 2024 Results on Nov 04, 2024 ELTA Technology Co.,Ltd. announced that they will report Q3, 2024 results on Nov 04, 2024 Buy Or Sell Opportunity • Oct 22
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 20% to NT$65.70. The fair value is estimated to be NT$82.71, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Meanwhile, the company has become profitable. Reported Earnings • Aug 14
Second quarter 2024 earnings released: EPS: NT$0.77 (vs NT$1.25 in 2Q 2023) Second quarter 2024 results: EPS: NT$0.77 (down from NT$1.25 in 2Q 2023). Revenue: NT$229.7m (up 2.9% from 2Q 2023). Net income: NT$19.9m (down 27% from 2Q 2023). Profit margin: 8.7% (down from 12% in 2Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 57% per year whereas the company’s share price has increased by 62% per year. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to NT$69.90, the stock trades at a trailing P/E ratio of 14.3x. Average forward P/E is 14x in the Media industry in Taiwan. Total returns to shareholders of 351% over the past three years. Announcement • Jul 26
ELTA Technology Co.,Ltd. to Report Q2, 2024 Results on Aug 02, 2024 ELTA Technology Co.,Ltd. announced that they will report Q2, 2024 results on Aug 02, 2024 Upcoming Dividend • May 28
Upcoming dividend of NT$4.50 per share Eligible shareholders must have bought the stock before 04 June 2024. Payment date: 28 June 2024. Payout ratio is a comfortable 36% and this is well supported by cash flows. Trailing yield: 2.6%. Lower than top quartile of Taiwanese dividend payers (4.3%). Lower than average of industry peers (5.3%). Reported Earnings • May 19
First quarter 2024 earnings released: EPS: NT$1.08 (vs NT$1.39 in 1Q 2023) First quarter 2024 results: EPS: NT$1.08 (down from NT$1.39 in 1Q 2023). Revenue: NT$200.8m (down 18% from 1Q 2023). Net income: NT$27.1m (down 10% from 1Q 2023). Profit margin: 14% (up from 12% in 1Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 72% per year but the company’s share price has only increased by 64% per year, which means it is significantly lagging earnings growth. Reported Earnings • Mar 07
Full year 2023 earnings released: EPS: NT$5.98 (vs NT$2.81 in FY 2022) Full year 2023 results: EPS: NT$5.98 (up from NT$2.81 in FY 2022). Revenue: NT$968.4m (down 1.3% from FY 2022). Net income: NT$136.2m (up 123% from FY 2022). Profit margin: 14% (up from 6.2% 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 84% per year but the company’s share price has only increased by 75% per year, which means it is significantly lagging earnings growth. Announcement • Mar 01
ELTA Technology Co.,Ltd., Annual General Meeting, May 21, 2024 ELTA Technology Co.,Ltd., Annual General Meeting, May 21, 2024. New Risk • Feb 29
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 5.7% 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 (5.7% average weekly change). Shareholders have been diluted in the past year (15% increase in shares outstanding). Market cap is less than US$100m (NT$2.06b market cap, or US$65.0m). New Risk • Nov 06
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 15% 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 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 (6.3% average weekly change). Shareholders have been diluted in the past year (15% increase in shares outstanding). Market cap is less than US$100m (NT$1.65b market cap, or US$51.3m). Reported Earnings • Aug 03
First half 2023 earnings released: EPS: NT$2.77 (vs NT$0.66 in 1H 2022) First half 2023 results: EPS: NT$2.77 (up from NT$0.66 in 1H 2022). Revenue: NT$492.4m (up 54% from 1H 2022). Net income: NT$60.5m (up 324% from 1H 2022). Profit margin: 12% (up from 4.5% in 1H 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 93% per year but the company’s share price has only increased by 50% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jul 12
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to NT$49.25, the stock trades at a trailing P/E ratio of 17.5x. Average trailing P/E is 16x in the Media industry in Taiwan. Total returns to shareholders of 229% over the past three years. Upcoming Dividend • Jun 22
Upcoming dividend of NT$2.17 per share at 5.3% yield Eligible shareholders must have bought the stock before 29 June 2023. Payment date: 21 July 2023. Payout ratio is on the higher end at 77%, however this is supported by cash flows. Trailing yield: 5.3%. Lower than top quartile of Taiwanese dividend payers (5.5%). Higher than average of industry peers (4.7%). Valuation Update With 7 Day Price Move • Mar 08
Investor sentiment improves as stock rises 37% After last week's 37% share price gain to NT$39.00, the stock trades at a trailing P/E ratio of 22.2x. Average trailing P/E is 16x in the Media industry in Taiwan. Total returns to shareholders of 141% over the past three years. Board Change • Nov 16
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. No highly experienced directors. No independent directors (5 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Reported Earnings • Aug 18
First half 2022 earnings released: EPS: NT$0.66 (vs NT$0.054 in 1H 2021) First half 2022 results: EPS: NT$0.66 (up from NT$0.054 in 1H 2021). Revenue: NT$319.9m (up 10% from 1H 2021). Net income: NT$14.3m (up NT$13.1m from 1H 2021). Profit margin: 4.5% (up from 0.4% in 1H 2021). 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 11% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jun 16
Upcoming dividend of NT$1.10 per share Eligible shareholders must have bought the stock before 23 June 2022. Payment date: 28 July 2022. Payout ratio is a comfortable 53% and this is well supported by cash flows. Trailing yield: 4.1%. Lower than top quartile of Taiwanese dividend payers (6.0%). Lower than average of industry peers (5.1%). Board Change • Apr 27
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. No highly experienced directors. No independent directors (5 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Reported Earnings • Apr 12
Full year 2021 earnings released: EPS: NT$2.08 (vs NT$0.37 loss in FY 2020) Full year 2021 results: EPS: NT$2.08 (up from NT$0.37 loss in FY 2020). Revenue: NT$932.4m (up 91% from FY 2020). Net income: NT$42.1m (up NT$49.5m from FY 2020). Profit margin: 4.5% (up from net loss in FY 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Announcement • Feb 24
ELTA Technology Co.,Ltd., Annual General Meeting, May 11, 2022 ELTA Technology Co.,Ltd., Annual General Meeting, May 11, 2022. Upcoming Dividend • Jul 02
Upcoming dividend of NT$0.40 per share Eligible shareholders must have bought the stock before 08 July 2021. Payment date: 30 July 2021. Trailing yield: 2.0%. Lower than top quartile of Taiwanese dividend payers (5.0%). Lower than average of industry peers (4.0%). Reported Earnings • Apr 15
Full year 2020 earnings released: NT$0.37 loss per share (vs NT$0.56 profit in FY 2019) The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2020 results: Revenue: NT$487.8m (down 19% from FY 2019). Net loss: NT$7.45m (down 165% from profit in FY 2019). Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Mar 24
Investor sentiment improved over the past week After last week's 22% share price gain to NT$21.30, the stock trades at a trailing P/E ratio of 60.9x. Average trailing P/E is 25x in the Media industry in Taiwan. Total loss to shareholders of 1.8% over the past three years. Is New 90 Day High Low • Jan 15
New 90-day low: NT$16.30 The company is down 14% from its price of NT$18.95 on 16 October 2020. The Taiwanese market is up 22% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Media industry, which is down 2.0% over the same period. Is New 90 Day High Low • Dec 09
New 90-day low: NT$17.30 The company is down 3.0% from its price of NT$17.90 on 10 September 2020. The Taiwanese market is up 13% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Media industry, which is down 1.0% over the same period. Is New 90 Day High Low • Sep 27
New 90-day high: NT$19.05 The company is up 1.0% from its price of NT$18.80 on 29 June 2020. The Taiwanese market is up 4.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Media industry, which is down 2.0% over the same period.