Declared Dividend • Jun 17
Dividend reduced to NT$0.75 Dividend of NT$0.75 is 50% lower than last year. Ex-date: 1st July 2026 Payment date: 5th August 2026 Dividend yield will be 1.7%, which is higher than the industry average of 1.6%. Sustainability & Growth Dividend is not adequately covered by earnings (94% earnings payout ratio) and the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 4.0% to bring the payout ratio under control. However, EPS has declined by 15% over the last 5 years so the company would need to reverse this trend. Reported Earnings • May 09
First quarter 2026 earnings released: EPS: NT$0.17 (vs NT$0.27 in 1Q 2025) First quarter 2026 results: EPS: NT$0.17 (down from NT$0.27 in 1Q 2025). Revenue: NT$375.8m (up 4.3% from 1Q 2025). Net income: NT$20.1m (down 37% from 1Q 2025). Profit margin: 5.4% (down from 8.8% in 1Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 21% per year whereas the company’s share price has fallen by 25% per year. Announcement • Mar 06
SCI Pharmtech, Inc., Annual General Meeting, May 22, 2026 SCI Pharmtech, Inc., Annual General Meeting, May 22, 2026. Location: no,61 ln.309, hai hu n. rd., lujhu district, taoyuan city Taiwan Reported Earnings • Mar 06
Full year 2025 earnings released: EPS: NT$0.90 (vs NT$4.47 in FY 2024) Full year 2025 results: EPS: NT$0.90 (down from NT$4.47 in FY 2024). Revenue: NT$1.34b (down 12% from FY 2024). Net income: NT$107.4m (down 80% from FY 2024). Profit margin: 8.0% (down from 35% in FY 2024). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has fallen by 19% per year, which means it is performing significantly worse than earnings. Reported Earnings • Nov 08
Third quarter 2025 earnings released: EPS: NT$0.12 (vs NT$3.19 in 3Q 2024) Third quarter 2025 results: EPS: NT$0.12 (down from NT$3.19 in 3Q 2024). Revenue: NT$256.4m (down 39% from 3Q 2024). Net income: NT$14.0m (down 96% from 3Q 2024). Profit margin: 5.5% (down from 91% in 3Q 2024). 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 11% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 09
Second quarter 2025 earnings released: EPS: NT$0.19 (vs NT$0.52 in 2Q 2024) Second quarter 2025 results: EPS: NT$0.19 (down from NT$0.52 in 2Q 2024). Revenue: NT$371.5m (down 5.4% from 2Q 2024). Net income: NT$22.8m (down 63% from 2Q 2024). Profit margin: 6.1% (down from 16% in 2Q 2024). Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Upcoming Dividend • Jun 24
Upcoming dividend of NT$1.50 per share Eligible shareholders must have bought the stock before 01 July 2025. Payment date: 05 August 2025. Payout ratio is a comfortable 34% but the company is not cash flow positive. Trailing yield: 2.3%. Lower than top quartile of Taiwanese dividend payers (5.3%). Lower than average of industry peers (2.6%). Declared Dividend • Jun 07
Dividend increased to NT$1.50 Dividend of NT$1.50 is 20% higher than last year. Ex-date: 1st July 2025 Payment date: 5th August 2025 Dividend yield will be 2.2%, which is higher than the industry average of 1.6%. Sustainability & Growth Dividend is covered by earnings (34% 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 decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to decline by 62% to shift the payout ratio to a potentially unsustainable range, which is more than the 5.3% EPS decline seen over the last 5 years. Reported Earnings • May 10
First quarter 2025 earnings released: EPS: NT$0.27 (vs NT$0.37 in 1Q 2024) First quarter 2025 results: EPS: NT$0.27 (down from NT$0.37 in 1Q 2024). Revenue: NT$360.3m (up 16% from 1Q 2024). Net income: NT$31.7m (down 29% from 1Q 2024). Profit margin: 8.8% (down from 14% in 1Q 2024). Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Announcement • May 02
SCI Pharmtech, Inc. to Report Q1, 2025 Results on May 09, 2025 SCI Pharmtech, Inc. announced that they will report Q1, 2025 results on May 09, 2025 Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to NT$65.00, the stock trades at a forward P/E ratio of 42x. Average forward P/E is 11x in the Pharmaceuticals industry in Taiwan. Total loss to shareholders of 9.9% over the past three years. New Risk • Mar 26
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 205% 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 Earnings have declined by 7.2% per year over the past 5 years. Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. New Risk • Mar 25
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. The company is paying a dividend despite having no free cash flows. Dividend yield: 1.8% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. 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 Risk Earnings have declined by 7.2% per year over the past 5 years. Minor Risk Paying a dividend despite having no free cash flows. Announcement • Mar 13
SCI Pharmtech, Inc., Annual General Meeting, May 26, 2025 SCI Pharmtech, Inc., Annual General Meeting, May 26, 2025, at 09:00 Taipei Standard Time. Location: no,61 ln.309, hai hu n. rd., lujhu district, taoyuan city Taiwan Reported Earnings • Mar 12
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: NT$4.47 (up from NT$2.70 in FY 2023). Revenue: NT$1.52b (up 27% from FY 2023). Net income: NT$534.7m (up 81% from FY 2023). Profit margin: 35% (up from 25% 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 3.5%. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Announcement • Mar 12
Sci Pharmtech, Inc. Declares Dividend for Period from January 01, 2024 to December 31, 2024 SCI Pharmtech, Inc. declared dividend of TWD 1.5 per share for the period from January 01, 2024 to December 31, 2024. Total amount of cash distributed to shareholders TWD 179,262,951. Announcement • Mar 01
SCI Pharmtech, Inc. to Report Fiscal Year 2024 Results on Mar 10, 2025 SCI Pharmtech, Inc. announced that they will report fiscal year 2024 results on Mar 10, 2025 Announcement • Jan 10
Sci Pharmtech, Inc. Announces Cash Dividend Payment SCI Pharmtech, Inc. announced cash dividend of TWD 543,772. Reported Earnings • Nov 11
Third quarter 2024 earnings released: EPS: NT$3.19 (vs NT$0.33 in 3Q 2023) Third quarter 2024 results: EPS: NT$3.19 (up from NT$0.33 in 3Q 2023). Revenue: NT$419.3m (up 63% from 3Q 2023). Net income: NT$381.1m (up NT$345.8m from 3Q 2023). Profit margin: 91% (up from 14% in 3Q 2023). Over the last 3 years on average, earnings per share has increased by 51% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. New Risk • Aug 17
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: 33% 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: Major Risk Earnings have declined by 22% per year over the past 5 years. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (11% net profit margin). Shareholders have been diluted in the past year (11% increase in shares outstanding). Reported Earnings • Aug 17
Second quarter 2024 earnings released: EPS: NT$0.52 (vs NT$1.86 in 2Q 2023) Second quarter 2024 results: EPS: NT$0.52 (down from NT$1.86 in 2Q 2023). Revenue: NT$392.7m (up 25% from 2Q 2023). Net income: NT$62.2m (down 69% from 2Q 2023). Profit margin: 16% (down from 64% in 2Q 2023). Over the last 3 years on average, earnings per share has increased by 58% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Announcement • Aug 02
SCI Pharmtech, Inc. to Report Q2, 2024 Results on Aug 09, 2024 SCI Pharmtech, Inc. announced that they will report Q2, 2024 results on Aug 09, 2024 Upcoming Dividend • Jun 24
Upcoming dividend of NT$1.25 per share Eligible shareholders must have bought the stock before 01 July 2024. Payment date: 05 August 2024. Payout ratio is a comfortable 51% but the company is not cash flow positive. Trailing yield: 1.4%. Lower than top quartile of Taiwanese dividend payers (4.2%). Lower than average of industry peers (2.0%). Reported Earnings • May 20
First quarter 2024 earnings released: EPS: NT$0.37 (vs NT$0.59 in 1Q 2023) First quarter 2024 results: EPS: NT$0.37 (down from NT$0.59 in 1Q 2023). Revenue: NT$309.9m (down 9.3% from 1Q 2023). Net income: NT$44.5m (down 30% from 1Q 2023). Profit margin: 14% (down from 19% in 1Q 2023). Over the last 3 years on average, earnings per share has increased by 60% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Announcement • May 10
SCI Pharmtech, Inc. Announces Board Changes SCI Pharmtech, Inc. announced the change of juristic-person representative director. Name of the previous position holder: Aurora Chen; Resume of the previous position holder: Director of Yushan Pharmaceuticals Inc.; Name of the new position holder: Hsu, Chin-Hsin; Resume of the new position holder: Attorney General of Mercuries & Associates Holding Ltd. Reason for the change: Corporate Director Reassignment as Representative. Effective date of the new appointment is May 10, 2024. Announcement • May 02
SCI Pharmtech, Inc. to Report Q1, 2024 Results on May 09, 2024 SCI Pharmtech, Inc. announced that they will report Q1, 2024 results on May 09, 2024 Reported Earnings • Mar 21
Full year 2023 earnings released: EPS: NT$2.70 (vs NT$2.88 in FY 2022) Full year 2023 results: EPS: NT$2.70 (down from NT$2.88 in FY 2022). Revenue: NT$1.20b (up 34% from FY 2022). Net income: NT$294.7m (down 4.6% from FY 2022). Profit margin: 25% (down from 34% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Announcement • Mar 14
SCI Pharmtech, Inc., Annual General Meeting, May 30, 2024 SCI Pharmtech, Inc., Annual General Meeting, May 30, 2024. Reported Earnings • Nov 15
Third quarter 2023 earnings released: EPS: NT$0.33 (vs NT$0.45 in 3Q 2022) Third quarter 2023 results: EPS: NT$0.33 (down from NT$0.45 in 3Q 2022). Revenue: NT$257.8m (down 15% from 3Q 2022). Net income: NT$35.4m (down 27% from 3Q 2022). Profit margin: 14% (down from 16% in 3Q 2022). 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. New Risk • Nov 07
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 11% 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: Major Risks Earnings have declined by 21% per year over the past 5 years. High level of non-cash earnings (29% accrual ratio). Minor Risk Shareholders have been diluted in the past year (11% increase in shares outstanding). Announcement • Sep 27
SCI Pharmtech, Inc. announced that it expects to receive TWD 120 million in funding SCI Pharmtech, Inc. announced a private placement to issue up to 12,000,000 common shares at an issue price of TWD 10 per share for the aggregate gross proceeds of TWD 120,000,000 on September 25, 2023. The transaction has been approved by the board of directors of the company. Reported Earnings • Aug 13
Second quarter 2023 earnings released: EPS: NT$1.86 (vs NT$1.31 in 2Q 2022) Second quarter 2023 results: EPS: NT$1.86 (up from NT$1.31 in 2Q 2022). Revenue: NT$313.1m (up 73% from 2Q 2022). Net income: NT$199.5m (up 42% from 2Q 2022). Profit margin: 64% (down from 77% in 2Q 2022). Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Upcoming Dividend • Jul 20
Upcoming dividend of NT$0.25 per share at 0.2% yield Eligible shareholders must have bought the stock before 27 July 2023. Payment date: 01 September 2023. Trailing yield: 0.2%. Lower than top quartile of Taiwanese dividend payers (5.5%). Lower than average of industry peers (1.4%). Announcement • Jul 06
SCI Pharmtech, Inc. Announces Cash Dividend, Payable on September 1, 2023 SCI Pharmtech, Inc. announced a cash dividend of TWD 23,845,593; TWD 0.25/per share. Ex-rights (ex-dividend) trading date is July 27, 2023. Ex-rights (ex-dividend) record date is August 2, 2023. The Payment date of cash dividend distribution is September 1, 2023. Reported Earnings • Mar 24
Full year 2022 earnings: EPS and revenues exceed analyst expectations Full year 2022 results: EPS: NT$3.24 (up from NT$0.58 in FY 2021). Revenue: NT$899.7m (up 4.1% from FY 2021). Net income: NT$308.8m (up 454% from FY 2021). Profit margin: 34% (up from 6.4% in FY 2021). The increase in margin was primarily driven by lower expenses. Revenue exceeded analyst estimates by 1.4%. Earnings per share (EPS) also surpassed analyst estimates by 20%. Revenue is forecast to grow 44% p.a. on average during the next 2 years, compared to a 49% growth forecast for the Pharmaceuticals industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 58% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Price Target Changed • Feb 01
Price target increased by 24% to NT$104 Up from NT$84.00, the current price target is an average from 2 analysts. New target price is 6.8% above last closing price of NT$97.40. Stock is up 18% over the past year. The company is forecast to post earnings per share of NT$2.70 for next year compared to NT$0.58 last year. Board Change • Nov 16
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 1 experienced director. 5 highly experienced directors. 3 independent directors (4 non-independent directors). Independent Director Wang Vincent was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Buying Opportunity • Nov 09
Now 21% undervalued Over the last 90 days, the stock is up 8.0%. The fair value is estimated to be NT$112, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 33% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 209% in 2 years. Earnings is forecast to grow by 243% in the next 2 years. Major Estimate Revision • Aug 30
Consensus revenue estimates fall by 25% The consensus outlook for revenues in 2022 has deteriorated. 2022 revenue forecast decreased from NT$1.11b to NT$834.0m. EPS estimate fell from NT$4.90 to NT$2.53 per share. Net income forecast to grow 170% next year vs 49% growth forecast for Pharmaceuticals industry in Taiwan. Consensus price target up from NT$84.00 to NT$86.00. Share price rose 2.2% to NT$88.20 over the past week. Reported Earnings • Aug 15
Second quarter 2022 earnings: EPS and revenues miss analyst expectations Second quarter 2022 results: EPS: NT$1.47 (up from NT$0.039 in 2Q 2021). Revenue: NT$181.4m (up 2.7% from 2Q 2021). Net income: NT$140.3m (up NT$136.6m from 2Q 2021). Profit margin: 77% (up from 2.1% in 2Q 2021). The increase in margin was primarily driven by lower expenses. Revenue missed analyst estimates by 24%. Earnings per share (EPS) also missed analyst estimates by 63%. Over the next year, revenue is forecast to grow 134%, compared to a 27% growth forecast for the Pharmaceuticals industry in Taiwan. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 69 percentage points per year, which is a significant difference in performance. Announcement • Jun 30
SCI Pharmtech, Inc. Announces Appointment of General Manager of the Board of Directors SCI Pharmtech, Inc. announced appointment of general manager of the Board of Directors. Name of the previous position holder: Mr. Weichyun Wong. Resume of the previous position holder: general manager of SCI Pharmtech, Inc. 5.Name of the new position holder: Mr. Wen-Chih Chou. Resume of the new position holder: Plant Manager of SCI Pharmtech, Inc. Effective date of the new appointment is June 29, 2022. Reported Earnings • May 09
First quarter 2022 earnings: EPS exceeds analyst expectations First quarter 2022 results: EPS: NT$0.43 (down from NT$0.44 in 1Q 2021). Revenue: NT$188.0m (down 42% from 1Q 2021). Net income: NT$41.2m (down 1.2% from 1Q 2021). Profit margin: 22% (up from 13% in 1Q 2021). The increase in margin was driven by lower expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) exceeded analyst estimates. Over the next year, revenue is forecast to grow 94%, compared to a 21% growth forecast for the industry in Taiwan. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 65 percentage points per year, which is a significant difference in performance. Price Target Changed • Apr 27
Price target increased to NT$84.00 Up from NT$66.94, the current price target is provided by 1 analyst. New target price is approximately in line with last closing price of NT$82.00. Stock is up 7.9% over the past year. The company is forecast to post earnings per share of NT$4.90 for next year compared to NT$0.58 last year. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 6 highly experienced directors. 3 independent directors (4 non-independent directors). Independent Director Jay Chen was the last independent director to join the board, commencing their role in 2015. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Nov 07
Third quarter 2021 earnings released: EPS NT$0.31 (vs NT$1.98 in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$228.3m (down 66% from 3Q 2020). Net income: NT$29.9m (down 84% from 3Q 2020). Profit margin: 13% (down from 28% in 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Upcoming Dividend • Aug 16
Upcoming dividend of NT$0.50 per share Eligible shareholders must have bought the stock before 23 August 2021. Payment date: 28 September 2021. Trailing yield: 0.5%. Lower than top quartile of Taiwanese dividend payers (5.2%). Lower than average of industry peers (2.3%). Reported Earnings • Aug 09
Second quarter 2021 earnings released: EPS NT$0.05 (vs NT$3.04 in 2Q 2020) The company reported a poor second quarter result with weaker earnings, revenues and profit margins. Second quarter 2021 results: Revenue: NT$176.6m (down 76% from 2Q 2020). Net income: NT$3.75m (down 98% from 2Q 2020). Profit margin: 2.1% (down from 33% in 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Reported Earnings • May 08
First quarter 2021 earnings released: EPS NT$0.52 (vs NT$2.62 in 1Q 2020) The company reported a poor first quarter result with weaker earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$323.6m (down 59% from 1Q 2020). Net income: NT$41.7m (down 80% from 1Q 2020). Profit margin: 13% (down from 27% in 1Q 2020). Over the last 3 years on average, earnings per share has increased by 11% per year whereas the company’s share price has increased by 13% per year. Major Estimate Revision • Apr 07
Consensus revenue estimates increase to NT$742.0m The consensus outlook for revenues in 2021 has improved. 2021 revenue forecast increased from NT$609.0m to NT$742.0m. EPS estimate increased from NT$0.56 to NT$1.18 per share. Net income forecast to shrink 74% next year vs 10% growth forecast for Pharmaceuticals industry in Taiwan . Consensus price target up from NT$80.33 to NT$89.33. Share price was steady at NT$94.10 over the past week. Reported Earnings • Mar 25
Full year 2020 earnings released: EPS NT$4.53 (vs NT$7.19 in FY 2019) The company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2020 results: Revenue: NT$2.69b (up 14% from FY 2019). Net income: NT$360.1m (down 37% from FY 2019). Profit margin: 13% (down from 24% in FY 2019). The decrease in margin was driven by higher expenses. 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 12% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jan 13
Investor sentiment improved over the past week After last week's 18% share price gain to NT$98.00, the stock is trading at a trailing P/E ratio of 10.7x, up from the previous P/E ratio of 9.1x. This compares to an average P/E of 18x in the Pharmaceuticals industry in Taiwan. Total returns to shareholders over the past three years are 79%. Major Estimate Revision • Dec 30
Analysts update estimates The 2020 consensus revenue estimate increased from NT$2.73b to NT$2.78b. Earnings per share (EPS) estimate was lowered from NT$9.58 to NT$5.75 for the same period. Net income is expected to shrink by 58% next year compared to 48% growth forecast for the Pharmaceuticals industry in Taiwan . The consensus price target was lowered from NT$109 to NT$85.67. Share price is down by 8.7% to NT$83.00 over the past week. Price Target Changed • Dec 22
Price target lowered to NT$109 Down from NT$131, the current price target is an average from 4 analysts. The new target price is 8.3% above the current share price of NT$101. As of last close, the stock is down 5.6% over the past year. Valuation Update With 7 Day Price Move • Dec 22
Investor sentiment deteriorated over the past week After last week's 19% share price decline to NT$101, the stock is trading at a trailing P/E ratio of 11x, down from the previous P/E ratio of 13.6x. This compares to an average P/E of 19x in the Pharmaceuticals industry in Taiwan. Total returns to shareholders over the past three years are 97%. Is New 90 Day High Low • Dec 21
New 90-day low: NT$112 The company is down 8.0% from its price of NT$122 on 22 September 2020. The Taiwanese market is up 11% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Pharmaceuticals industry, which is down 13% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is NT$139 per share. Reported Earnings • Nov 15
Third quarter 2020 earnings released: EPS NT$2.38 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: NT$678.8m (up 8.1% from 3Q 2019). Net income: NT$188.9m (up 18% from 3Q 2019). Profit margin: 28% (up from 26% 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 42% per year but the company’s share price has only increased by 27% per year, which means it is significantly lagging earnings growth. Analyst Estimate Surprise Post Earnings • Nov 15
Revenue beats expectations, earnings disappoint Revenue exceeded analyst estimates by 0.05%. Earnings per share (EPS) missed analyst estimates by 2.1%. Over the next year, revenue is forecast to stay flat compared to a 79% growth forecast for the Pharmaceuticals industry in Taiwan. Reported Earnings • Nov 07
Third quarter 2020 earnings released: EPS NT$2.38 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: NT$678.8m (up 8.1% from 3Q 2019). Net income: NT$188.9m (up 18% from 3Q 2019). Profit margin: 28% (up from 26% 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 42% per year but the company’s share price has only increased by 26% per year, which means it is significantly lagging earnings growth. Analyst Estimate Surprise Post Earnings • Nov 07
Revenue beats expectations, earnings disappoint Revenue exceeded analyst estimates by 0.05%. Earnings per share (EPS) missed analyst estimates by 2.1%. Over the next year, revenue is forecast to stay flat compared to a 73% growth forecast for the Pharmaceuticals industry in Taiwan.