Reported Earnings • May 11
First quarter 2026 earnings released: EPS: NT$0.048 (vs NT$0.19 in 1Q 2025) First quarter 2026 results: EPS: NT$0.048 (down from NT$0.19 in 1Q 2025). Revenue: NT$89.2m (down 10% from 1Q 2025). Net income: NT$4.15m (down 75% from 1Q 2025). Profit margin: 4.7% (down from 17% in 1Q 2025). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has fallen by 10% per year, which means it is performing significantly worse than earnings. Upcoming Dividend • Apr 01
Upcoming dividend of NT$0.80 per share Eligible shareholders must have bought the stock before 08 April 2026. Payment date: 08 May 2026. The company is paying out more than 100% of its profits and is paying out 98% of its cash flow. Trailing yield: 4.3%. Lower than top quartile of Taiwanese dividend payers (5.4%). Higher than average of industry peers (1.0%). New Risk • Mar 11
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 200% Cash payout ratio: 98% Dividend yield: 4.4% 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: 200% Cash payout ratio: 98% Earnings have declined by 18% per year over the past 5 years. Minor Risk Market cap is less than US$100m (NT$1.55b market cap, or US$48.8m). Declared Dividend • Mar 11
Dividend of NT$0.80 announced Shareholders will receive a dividend of NT$0.80. Ex-date: 8th April 2026 Payment date: 8th May 2026 Dividend yield will be 4.4%, which is higher than the industry average of 2.6%. Sustainability & Growth Dividend is not covered by earnings (200% earnings payout ratio) nor is it adequately covered by cash flows (98% cash payout ratio). The dividend has decreased over the past 76 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 123% 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. New Risk • Dec 31
New major risk - Revenue and earnings growth Earnings have declined by 16% per year over the past 5 years. 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 declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. 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 have declined by 16% per year over the past 5 years. Minor Risks Dividend is not well covered by earnings (200% payout ratio). Profit margins are more than 30% lower than last year (8.8% net profit margin). Market cap is less than US$100m (NT$1.57b market cap, or US$50.1m). Reported Earnings • Nov 12
Third quarter 2025 earnings released: EPS: NT$0.29 (vs NT$0.066 in 3Q 2024) Third quarter 2025 results: EPS: NT$0.29 (up from NT$0.066 in 3Q 2024). Revenue: NT$88.9m (up 6.1% from 3Q 2024). Net income: NT$24.7m (up 330% from 3Q 2024). Profit margin: 28% (up from 6.8% in 3Q 2024). The increase in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Reported Earnings • Aug 09
Second quarter 2025 earnings released: NT$0.10 loss per share (vs NT$0.17 profit in 2Q 2024) Second quarter 2025 results: NT$0.10 loss per share (down from NT$0.17 profit in 2Q 2024). Revenue: NT$112.2m (up 19% from 2Q 2024). Net loss: NT$8.74m (down 160% from profit in 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Buy Or Sell Opportunity • Jul 16
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 10% to NT$21.15. The fair value is estimated to be NT$17.47, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 3.1% over the last 3 years. Earnings per share has declined by 25%. New Risk • May 08
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 11% Last year net profit margin: 17% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by earnings (178% payout ratio). Profit margins are more than 30% lower than last year (11% net profit margin). Market cap is less than US$100m (NT$1.74b market cap, or US$57.6m). Announcement • Apr 27
GenMont Biotech Incorporation to Report Q1, 2025 Results on May 05, 2025 GenMont Biotech Incorporation announced that they will report Q1, 2025 results on May 05, 2025 Valuation Update With 7 Day Price Move • Apr 09
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to NT$17.20, the stock trades at a trailing P/E ratio of 26x. Average trailing P/E is 28x in the Biotechs industry in Taiwan. Total loss to shareholders of 21% over the past three years. Upcoming Dividend • Mar 20
Upcoming dividend of NT$0.80 per share Eligible shareholders must have bought the stock before 27 March 2025. Payment date: 29 April 2025. Payout ratio is on the higher end at 81%, however this is supported by cash flows. Trailing yield: 2.3%. Lower than top quartile of Taiwanese dividend payers (4.6%). Higher than average of industry peers (1.0%). Reported Earnings • Mar 15
Full year 2024 earnings released: EPS: NT$0.66 (vs NT$0.38 in FY 2023) Full year 2024 results: EPS: NT$0.66 (up from NT$0.38 in FY 2023). Revenue: NT$385.4m (up 21% from FY 2023). Net income: NT$57.3m (up 74% from FY 2023). Profit margin: 15% (up from 10% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. Announcement • Mar 13
GenMont Biotech Incorporation, Annual General Meeting, May 28, 2025 GenMont Biotech Incorporation, Annual General Meeting, May 28, 2025, at 10:15 Taipei Standard Time. Location: no,99, yung an 1st st. yen hsing li, yongkang district, tainan city Taiwan Announcement • Mar 11
GenMont Biotech Incorporation Resolves to Distribute a Cash Dividend, Payable on April 29, 2025 GenMont Biotech Incorporation resolved to distribute a cash dividend of TWD 0.8 per share. (i.e., earnings distribution of TWD 69,209,092). Ex-rights (ex-dividend) trading date: March 27, 2025. Ex-rights (ex-dividend) record date: April 3, 2025. Payment date of common stock cash dividend distribution: April 29, 2025. Announcement • Mar 01
GenMont Biotech Incorporation to Report Q4, 2024 Results on Mar 10, 2025 GenMont Biotech Incorporation announced that they will report Q4, 2024 results on Mar 10, 2025 Reported Earnings • Nov 18
Third quarter 2024 earnings released: EPS: NT$0.07 (vs NT$0.28 in 3Q 2023) Third quarter 2024 results: EPS: NT$0.07 (down from NT$0.28 in 3Q 2023). Revenue: NT$83.8m (up 9.8% from 3Q 2023). Net income: NT$5.74m (down 76% from 3Q 2023). Profit margin: 6.8% (down from 31% in 3Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Reported Earnings • Aug 10
Second quarter 2024 earnings released: EPS: NT$0.17 (vs NT$0.033 in 2Q 2023) Second quarter 2024 results: EPS: NT$0.17 (up from NT$0.033 in 2Q 2023). Revenue: NT$94.2m (up 7.1% from 2Q 2023). Net income: NT$14.7m (up 408% from 2Q 2023). Profit margin: 16% (up from 3.3% in 2Q 2023). Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Announcement • Jul 27
GenMont Biotech Incorporation to Report Q2, 2024 Results on Aug 05, 2024 GenMont Biotech Incorporation announced that they will report Q2, 2024 results on Aug 05, 2024 Declared Dividend • May 31
Dividend reduced to NT$0.50 Dividend of NT$0.50 is 29% lower than last year. Ex-date: 17th June 2024 Payment date: 10th July 2024 Dividend yield will be 2.0%, which is lower than the industry average of 2.6%. Sustainability & Growth Dividend is not covered by earnings (124% earnings payout ratio) nor is it covered by cash flows (dividend approximately 6x free cash flows). The dividend has decreased over the past 56 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 38% to bring the payout ratio under control. However, EPS has declined by 11% over the last 5 years so the company would need to reverse this trend. Announcement • May 30
Genmont Biotech Incorporation Announces the 2023 Cash Dividend, Payable on July 10, 2024 GenMont Biotech Incorporation announced the 2023 cash dividends of TWD 0.5 per share (that is earnings distribution of TWD 19,897,614, providing TWD 0.23 per share; and capital surplus distribution of TWD 23,358,069, providing TWD 0.27 per share). Ex-rights (ex-dividend) trading date is June 17, 2024. Ex-rights (ex-dividend) record date is June 23, 2024. Payment date of common stock cash dividend distribution is July 10, 2024. Reported Earnings • May 12
First quarter 2024 earnings released: EPS: NT$0.40 (vs NT$0.095 in 1Q 2023) First quarter 2024 results: EPS: NT$0.40 (up from NT$0.095 in 1Q 2023). Revenue: NT$116.4m (up 46% from 1Q 2023). Net income: NT$34.7m (up 322% from 1Q 2023). Profit margin: 30% (up from 10% in 1Q 2023). Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Announcement • May 05
GenMont Biotech Incorporation to Report Q1, 2024 Results on May 07, 2024 GenMont Biotech Incorporation announced that they will report Q1, 2024 results at 9:00 AM, Taipei Standard Time on May 07, 2024 New Risk • Mar 17
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 219% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 124% Paying a dividend despite having no free cash flows. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (10% net profit margin). Market cap is less than US$100m (NT$1.95b market cap, or US$61.7m). Reported Earnings • Mar 13
Full year 2023 earnings released: EPS: NT$0.38 (vs NT$0.66 in FY 2022) Full year 2023 results: EPS: NT$0.38 (down from NT$0.66 in FY 2022). Revenue: NT$318.0m (down 14% from FY 2022). Net income: NT$33.0m (down 42% from FY 2022). Profit margin: 10% (down from 16% in FY 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has remained flat, which means it is well ahead of earnings. New Risk • Nov 24
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 64% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 124% Paying a dividend despite having no free cash flows. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (14% net profit margin). Market cap is less than US$100m (NT$2.06b market cap, or US$64.9m). New Risk • Aug 12
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 20% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 183% Paying a dividend despite having no free cash flows. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (9.5% net profit margin). Market cap is less than US$100m (NT$2.09b market cap, or US$65.5m). Reported Earnings • Aug 12
Second quarter 2023 earnings released: EPS: NT$0.03 (vs NT$0.14 in 2Q 2022) Second quarter 2023 results: EPS: NT$0.03 (down from NT$0.14 in 2Q 2022). Revenue: NT$87.9m (down 7.9% from 2Q 2022). Net income: NT$2.89m (down 75% from 2Q 2022). Profit margin: 3.3% (down from 12% in 2Q 2022). Over the last 3 years on average, earnings per share has increased by 1% per year and the company’s share price has also increased by 1% per year. Upcoming Dividend • Jun 21
Upcoming dividend of NT$0.70 per share at 2.7% yield Eligible shareholders must have bought the stock before 28 June 2023. Payment date: 25 July 2023. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 2.7%. Lower than top quartile of Taiwanese dividend payers (5.5%). Higher than average of industry peers (2.2%). Reported Earnings • Mar 17
Full year 2022 earnings released: EPS: NT$0.66 (vs NT$1.31 in FY 2021) Full year 2022 results: EPS: NT$0.66 (down from NT$1.31 in FY 2021). Revenue: NT$368.5m (down 14% from FY 2021). Net income: NT$57.0m (down 50% from FY 2021). Profit margin: 16% (down from 26% in FY 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Dec 13
Investor sentiment improved over the past week After last week's 16% share price gain to NT$26.70, the stock trades at a trailing P/E ratio of 26.4x. Average trailing P/E is 39x in the Biotechs industry in Taiwan. Total returns to shareholders of 19% over the past three years. Reported Earnings • Nov 13
Third quarter 2022 earnings released: EPS: NT$0.09 (vs NT$0.27 in 3Q 2021) Third quarter 2022 results: EPS: NT$0.09 (down from NT$0.27 in 3Q 2021). Revenue: NT$76.1m (down 28% from 3Q 2021). Net income: NT$8.12m (down 66% from 3Q 2021). Profit margin: 11% (down from 22% in 3Q 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 16
Second quarter 2022 earnings released: EPS: NT$0.14 (vs NT$0.17 in 2Q 2021) Second quarter 2022 results: EPS: NT$0.14 (down from NT$0.17 in 2Q 2021). Revenue: NT$95.5m (down 4.0% from 2Q 2021). Net income: NT$11.7m (down 21% from 2Q 2021). Profit margin: 12% (down from 15% in 2Q 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Upcoming Dividend • Jun 17
Upcoming dividend of NT$1.10 per share Eligible shareholders must have bought the stock before 24 June 2022. Payment date: 22 July 2022. Payout ratio is on the higher end at 90%, and the cash payout ratio is above 100%. Trailing yield: 4.3%. Lower than top quartile of Taiwanese dividend payers (6.1%). Higher than average of industry peers (2.6%). Reported Earnings • May 16
First quarter 2022 earnings released: EPS: NT$0.27 (vs NT$0.35 in 1Q 2021) First quarter 2022 results: EPS: NT$0.27 (down from NT$0.35 in 1Q 2021). Revenue: NT$91.0m (down 12% from 1Q 2021). Net income: NT$23.3m (down 24% from 1Q 2021). Profit margin: 26% (down from 30% in 1Q 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Reported Earnings • Nov 12
Third quarter 2021 earnings released: EPS NT$0.27 (vs NT$0.33 in 3Q 2020) The company reported a mediocre third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: NT$105.4m (up 33% from 3Q 2020). Net income: NT$23.6m (down 19% from 3Q 2020). Profit margin: 22% (down from 37% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Aug 19
Upcoming dividend of NT$0.70 per share Eligible shareholders must have bought the stock before 26 August 2021. Payment date: 17 September 2021. Trailing yield: 3.0%. Lower than top quartile of Taiwanese dividend payers (5.2%). Lower than average of industry peers (4.1%). Reported Earnings • Aug 13
Second quarter 2021 earnings released: EPS NT$0.17 (vs NT$0.17 in 2Q 2020) The company reported a soft second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2021 results: Revenue: NT$99.5m (up 27% from 2Q 2020). Net income: NT$14.8m (down 2.6% from 2Q 2020). Profit margin: 15% (down from 19% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • May 13
Investor sentiment improved over the past week After last week's 25% share price gain to NT$28.70, the stock trades at a trailing P/E ratio of 41.4x. Average trailing P/E is 29x in the Biotechs industry in Taiwan. Total returns to shareholders of 1.8% over the past three years. Reported Earnings • Mar 17
Full year 2020 earnings released: EPS NT$0.69 (vs NT$0.65 in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: NT$325.2m (down 6.1% from FY 2019). Net income: NT$60.9m (up 6.0% from FY 2019). Profit margin: 19% (up from 17% in FY 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. Announcement • Mar 11
GenMont Biotech Incorporation, Annual General Meeting, May 28, 2021 GenMont Biotech Incorporation, Annual General Meeting, May 28, 2021. Is New 90 Day High Low • Feb 25
New 90-day high: NT$24.80 The company is up 6.0% from its price of NT$23.30 on 27 November 2020. The Taiwanese market is up 17% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Biotechs industry, which is up 8.0% over the same period. Is New 90 Day High Low • Jan 27
New 90-day low: NT$20.55 The company is down 10.0% from its price of NT$22.85 on 29 October 2020. The Taiwanese market is up 21% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Biotechs industry, which is down 2.0% over the same period. Is New 90 Day High Low • Jan 06
New 90-day low: NT$22.00 The company is down 12% from its price of NT$24.95 on 08 October 2020. The Taiwanese market is up 17% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Biotechs industry, which is down 3.0% over the same period. Is New 90 Day High Low • Dec 12
New 90-day low: NT$22.35 The company is down 4.0% from its price of NT$23.30 on 11 September 2020. The Taiwanese market is up 12% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Biotechs industry, which is down 5.0% over the same period. Reported Earnings • Nov 15
Third quarter 2020 earnings released: EPS NT$0.33 The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2020 results: Revenue: NT$79.4m (down 11% from 3Q 2019). Net income: NT$29.1m (up 83% from 3Q 2019). Profit margin: 37% (up from 18% in 3Q 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 3% per year whereas the company’s share price has fallen by 2% per year.