Reported Earnings • Mar 05
Full year 2025 earnings released: NT$5.26 loss per share (vs NT$2.33 loss in FY 2024) Full year 2025 results: NT$5.26 loss per share (further deteriorated from NT$2.33 loss in FY 2024). Revenue: NT$899.1m (up 10% from FY 2024). Net loss: NT$172.4m (loss widened 124% from FY 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 106 percentage points per year, which is a significant difference in performance. New Risk • Mar 04
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 7.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 52% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (7.1% average weekly change). Market cap is less than US$100m (NT$985.5m market cap, or US$31.1m). Announcement • Feb 26
Force MOS Technology Co., LTD., Annual General Meeting, May 20, 2026 Force MOS Technology Co., LTD., Annual General Meeting, May 20, 2026. Location: 6 floor no,66, wu kung rd., sinjhuang district, new taipei city Taiwan Reported Earnings • Nov 08
Third quarter 2025 earnings released: NT$0.82 loss per share (vs NT$1.29 loss in 3Q 2024) Third quarter 2025 results: NT$0.82 loss per share (improved from NT$1.29 loss in 3Q 2024). Revenue: NT$249.4m (up 17% from 3Q 2024). Net loss: NT$26.7m (loss narrowed 38% from 3Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 119 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 09
Second quarter 2025 earnings released: NT$2.08 loss per share (vs NT$0.86 loss in 2Q 2024) Second quarter 2025 results: NT$2.08 loss per share (further deteriorated from NT$0.86 loss in 2Q 2024). Revenue: NT$216.5m (up 3.0% from 2Q 2024). Net loss: NT$68.2m (loss widened 137% from 2Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 117 percentage points per year, which is a significant difference in performance. Reported Earnings • May 09
First quarter 2025 earnings released: NT$1.85 loss per share (vs NT$0.46 profit in 1Q 2024) First quarter 2025 results: NT$1.85 loss per share (down from NT$0.46 profit in 1Q 2024). Revenue: NT$191.8m (down 1.9% from 1Q 2024). Net loss: NT$60.5m (down 494% from profit in 1Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 98 percentage points per year, which is a significant difference in performance. New Risk • Apr 25
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Taiwanese stocks, typically moving 11% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (11% average weekly change). Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Earnings have declined by 8.9% per year over the past 5 years. Minor Risk Market cap is less than US$100m (NT$1.10b market cap, or US$33.7m). Buy Or Sell Opportunity • Apr 15
Now 23% overvalued Over the last 90 days, the stock has fallen 6.0% to NT$29.00. The fair value is estimated to be NT$23.59, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 17% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • Mar 20
Full year 2024 earnings released: NT$2.33 loss per share (vs NT$0.20 profit in FY 2023) Full year 2024 results: NT$2.33 loss per share (down from NT$0.20 profit in FY 2023). Revenue: NT$815.1m (up 10% from FY 2023). Net loss: NT$77.1m (down NT$83.6m from profit in FY 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 80 percentage points per year, which is a significant difference in performance. New Risk • Feb 25
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 6.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Minor Risks Share price has been volatile over the past 3 months (6.1% average weekly change). Market cap is less than US$100m (NT$1.32b market cap, or US$40.2m). Announcement • Feb 25
Force MOS Technology Co., LTD., Annual General Meeting, May 20, 2025 Force MOS Technology Co., LTD., Annual General Meeting, May 20, 2025. Location: 6 floor no,66, wu kung rd., sinjhuang district, new taipei city Taiwan Reported Earnings • Nov 18
Third quarter 2024 earnings released: NT$1.29 loss per share (vs NT$0.27 profit in 3Q 2023) Third quarter 2024 results: NT$1.29 loss per share (down from NT$0.27 profit in 3Q 2023). Revenue: NT$213.5m (up 8.9% from 3Q 2023). Net loss: NT$42.8m (down NT$51.9m from profit in 3Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 61 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 17
Second quarter 2024 earnings released: NT$0.86 loss per share (vs NT$0.082 loss in 2Q 2023) Second quarter 2024 results: NT$0.86 loss per share (further deteriorated from NT$0.082 loss in 2Q 2023). Revenue: NT$210.2m (up 42% from 2Q 2023). Net loss: NT$28.8m (loss widened NT$26.1m from 2Q 2023). Over the last 3 years on average, earnings per share has fallen by 56% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Reported Earnings • May 19
First quarter 2024 earnings released: EPS: NT$0.46 (vs NT$0.054 in 1Q 2023) First quarter 2024 results: EPS: NT$0.46 (up from NT$0.054 in 1Q 2023). Revenue: NT$195.5m (up 6.9% from 1Q 2023). Net income: NT$15.4m (up NT$13.5m from 1Q 2023). Profit margin: 7.9% (up from 1.0% in 1Q 2023). Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Upcoming Dividend • Apr 30
Upcoming dividend of NT$2.00 per share Eligible shareholders must have bought the stock before 07 May 2024. Payment date: 31 May 2024. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 4.3%. Lower than top quartile of Taiwanese dividend payers (4.5%). Higher than average of industry peers (2.4%). Reported Earnings • Mar 21
Full year 2023 earnings released: EPS: NT$0.20 (vs NT$5.39 in FY 2022) Full year 2023 results: EPS: NT$0.20 (down from NT$5.39 in FY 2022). Revenue: NT$738.5m (down 33% from FY 2022). Net income: NT$6.50m (down 96% from FY 2022). Profit margin: 0.9% (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 7% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Announcement • Jan 23
Force MOS Technology Co., LTD., Annual General Meeting, Apr 16, 2024 Force MOS Technology Co., LTD., Annual General Meeting, Apr 16, 2024. New Risk • Oct 18
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 5.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 166% Dividend per share is over 8x cash flows per share. Minor Risks Share price has been volatile over the past 3 months (5.9% average weekly change). Profit margins are more than 30% lower than last year (6.5% net profit margin). Market cap is less than US$100m (NT$1.49b market cap, or US$46.1m). Valuation Update With 7 Day Price Move • Oct 02
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$51.00, the stock trades at a trailing P/E ratio of 33.6x. Average trailing P/E is 23x in the Semiconductor industry in Taiwan. Total returns to shareholders of 296% over the past three years. New Risk • Aug 13
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 159% Dividend per share is over 8x cash flows per share. Dividend yield: 6.2% 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 Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 159% Dividend per share is over 8x cash flows per share. Minor Risks Profit margins are more than 30% lower than last year (6.5% net profit margin). Market cap is less than US$100m (NT$1.34b market cap, or US$42.1m). Reported Earnings • Aug 08
Second quarter 2023 earnings released: NT$0.08 loss per share (vs NT$2.01 profit in 2Q 2022) Second quarter 2023 results: NT$0.08 loss per share (down from NT$2.01 profit in 2Q 2022). Revenue: NT$148.5m (down 55% from 2Q 2022). Net loss: NT$2.74m (down 104% from profit in 2Q 2022). Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has only increased by 34% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Apr 26
Upcoming dividend of NT$3.00 per share at 5.1% yield Eligible shareholders must have bought the stock before 03 May 2023. Payment date: 31 May 2023. Payout ratio is a comfortable 46% but the company is paying out more than the cash it is generating. Trailing yield: 5.1%. Lower than top quartile of Taiwanese dividend payers (5.9%). Higher than average of industry peers (3.6%). Reported Earnings • Mar 19
Full year 2022 earnings released: EPS: NT$6.47 (vs NT$5.73 in FY 2021) Full year 2022 results: EPS: NT$6.47 (up from NT$5.73 in FY 2021). Revenue: NT$1.10b (flat on FY 2021). Net income: NT$176.1m (up 26% from FY 2021). Profit margin: 16% (up from 13% in FY 2021). Over the last 3 years on average, earnings per share has increased by 89% per year but the company’s share price has only increased by 76% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Mar 01
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to NT$66.00, the stock trades at a trailing P/E ratio of 8.9x. Average trailing P/E is 14x in the Semiconductor industry in Taiwan. Total returns to shareholders of 273% over the past three years. Announcement • Jan 18
Force MOS Technology Co., Ltd., Annual General Meeting, Apr 11, 2023 Force MOS Technology Co., Ltd., Annual General Meeting, Apr 11, 2023. Board Change • Nov 16
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. 9 experienced directors. No highly experienced directors. 1 independent director (6 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: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Nov 07
Third quarter 2022 earnings released: EPS: NT$1.48 (vs NT$1.86 in 3Q 2021) Third quarter 2022 results: EPS: NT$1.48 (down from NT$1.86 in 3Q 2021). Revenue: NT$231.9m (down 20% from 3Q 2021). Net income: NT$41.6m (down 8.1% from 3Q 2021). Profit margin: 18% (up from 16% in 3Q 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 92% per year but the company’s share price has only increased by 26% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Nov 04
Investor sentiment improved over the past week After last week's 23% share price gain to NT$50.70, the stock trades at a trailing P/E ratio of 6.7x. Average trailing P/E is 11x in the Semiconductor industry in Taiwan. Total returns to shareholders of 115% over the past three years. Reported Earnings • Aug 07
Second quarter 2022 earnings released Second quarter 2022 results: EPS: NT$2.41. Revenue: NT$332.5m (flat on 2Q 2021). Net income: NT$66.7m (up NT$66.7m from 2Q 2021). Profit margin: 20% (up from null in 2Q 2021). Over the last 3 years on average, earnings per share has increased by 80% per year but the company’s share price has only increased by 31% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jun 22
Investor sentiment deteriorated over the past week After last week's 15% share price decline to NT$64.00, the stock trades at a trailing P/E ratio of 9.8x. Average forward P/E is 10x in the Semiconductor industry in Taiwan. Total returns to shareholders of 168% over the past three years. Upcoming Dividend • Jun 21
Upcoming dividend of NT$4.51 per share Eligible shareholders must have bought the stock before 28 June 2022. Payment date: 29 July 2022. Payout ratio is a comfortable 61% and this is well supported by cash flows. Trailing yield: 6.6%. Within top quartile of Taiwanese dividend payers (6.3%). Higher than average of industry peers (3.4%). Reported Earnings • May 10
First quarter 2022 earnings released: EPS: NT$2.30 (vs NT$1.13 in 1Q 2021) First quarter 2022 results: EPS: NT$2.30 (up from NT$1.13 in 1Q 2021). Revenue: NT$316.6m (up 18% from 1Q 2021). Net income: NT$58.0m (up 110% from 1Q 2021). Profit margin: 18% (up from 10% in 1Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 56% per year but the company’s share price has only increased by 33% per year, which means it is significantly lagging earnings growth. 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. 9 experienced directors. No highly experienced directors. 1 independent director (6 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: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Mar 09
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: NT$5.73 (up from NT$0.59 in FY 2020). Revenue: NT$1.11b (up 63% from FY 2020). Net income: NT$139.9m (up NT$125.2m from FY 2020). Profit margin: 13% (up from 2.2% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 10%, compared to a 24% growth forecast for the industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has increased by 30% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Nov 12
Investor sentiment improved over the past week After last week's 15% share price gain to NT$76.20, the stock trades at a trailing P/E ratio of 22.8x. Average trailing P/E is 22x in the Semiconductor industry in Taiwan. Total returns to shareholders of 192% over the past three years. Reported Earnings • Aug 15
First half 2021 earnings released: EPS NT$2.26 (vs NT$0.48 loss in 1H 2020) The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: NT$538.7m (up 116% from 1H 2020). Net income: NT$55.1m (up NT$67.0m from 1H 2020). Profit margin: 10% (up from net loss in 1H 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has increased by 22% per year, which means it is well ahead of earnings. Upcoming Dividend • Jun 16
Upcoming dividend of NT$1.11 per share Eligible shareholders must have bought the stock before 22 June 2021. Payment date: 22 July 2021. Trailing yield: 2.1%. Lower than top quartile of Taiwanese dividend payers (5.0%). In line with average of industry peers (2.1%). Valuation Update With 7 Day Price Move • May 13
Investor sentiment deteriorated over the past week After last week's 21% share price decline to NT$47.00, the stock trades at a trailing P/E ratio of 79.3x. Average trailing P/E is 22x in the Semiconductor industry in Taiwan. Total returns to shareholders of 125% over the past three years. Reported Earnings • Mar 17
Full year 2020 earnings released: EPS NT$0.59 (vs NT$0.53 in FY 2019) The company reported a solid full year result with improved earnings and revenues, although profit margins were flat. Full year 2020 results: Revenue: NT$679.7m (up 4.9% from FY 2019). Net income: NT$14.7m (up 10% from FY 2019). Profit margin: 2.2% (in line with FY 2019). Over the last 3 years on average, earnings per share has fallen by 47% per year but the company’s share price has increased by 28% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Feb 04
New 90-day high: NT$29.00 The company is up 36% from its price of NT$21.30 on 06 November 2020. The Taiwanese market is up 21% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Semiconductor industry, which is up 38% over the same period. Announcement • Jan 20
Force-MOS Technology Co., LTD., Annual General Meeting, Apr 07, 2021 Force-MOS Technology Co., LTD., Annual General Meeting, Apr 07, 2021. Is New 90 Day High Low • Dec 04
New 90-day high: NT$25.80 The company is up 39% from its price of NT$18.55 on 04 September 2020. The Taiwanese market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Semiconductor industry, which is up 19% over the same period. Is New 90 Day High Low • Nov 06
New 90-day high: NT$21.30 The company is up 12% from its price of NT$19.00 on 07 August 2020. The Taiwanese market is up 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Semiconductor industry, which is up 3.0% over the same period. Is New 90 Day High Low • Oct 19
New 90-day high: NT$20.60 The company is up 2.0% from its price of NT$20.10 on 21 July 2020. The Taiwanese market is up 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Semiconductor industry, which is up 18% over the same period.