Reported Earnings • May 16
First quarter 2026 earnings released: NT$0.79 loss per share (vs NT$0.91 loss in 1Q 2025) First quarter 2026 results: NT$0.79 loss per share (improved from NT$0.91 loss in 1Q 2025). Revenue: NT$171.9m (down 20% from 1Q 2025). Net loss: NT$34.2m (loss narrowed 13% from 1Q 2025). 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 20% per year, which means it has not declined as severely as earnings. Reported Earnings • Mar 14
Full year 2025 earnings released: NT$4.90 loss per share (vs NT$3.13 loss in FY 2024) Full year 2025 results: NT$4.90 loss per share (further deteriorated from NT$3.13 loss in FY 2024). Revenue: NT$775.8m (down 14% from FY 2024). Net loss: NT$211.9m (loss widened 57% from FY 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 55 percentage points per year, which is a significant difference in performance. Announcement • Mar 12
WiseChip Semiconductor Inc., Annual General Meeting, Jun 25, 2026 WiseChip Semiconductor Inc., Annual General Meeting, Jun 25, 2026. Location: no,36, k`o yen rd., jhunan township, miaoli county Taiwan New Risk • Jan 08
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 6.6% 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 Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Earnings have declined by 55% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (6.6% average weekly change). Market cap is less than US$100m (NT$1.20b market cap, or US$37.9m). Reported Earnings • Nov 15
Third quarter 2025 earnings released: NT$1.05 loss per share (vs NT$0.88 loss in 3Q 2024) Third quarter 2025 results: NT$1.05 loss per share (further deteriorated from NT$0.88 loss in 3Q 2024). Revenue: NT$159.9m (down 31% from 3Q 2024). Net loss: NT$45.5m (loss widened 20% from 3Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 63 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 15
Second quarter 2025 earnings released: NT$1.27 loss per share (vs NT$0.61 loss in 2Q 2024) Second quarter 2025 results: NT$1.27 loss per share (further deteriorated from NT$0.61 loss in 2Q 2024). Revenue: NT$228.0m (down 2.2% from 2Q 2024). Net loss: NT$54.9m (loss widened 107% from 2Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 74 percentage points per year, which is a significant difference in performance. New Risk • Jul 02
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 8.9% 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 Earnings have declined by 45% per year over the past 5 years. 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 (8.9% average weekly change). Market cap is less than US$100m (NT$979.7m market cap, or US$33.7m). Reported Earnings • May 15
First quarter 2025 earnings released: NT$0.91 loss per share (vs NT$0.72 loss in 1Q 2024) First quarter 2025 results: NT$0.91 loss per share (further deteriorated from NT$0.72 loss in 1Q 2024). Revenue: NT$213.7m (up 1.0% from 1Q 2024). Net loss: NT$39.4m (loss widened 27% from 1Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 74 percentage points per year, which is a significant difference in performance. Reported Earnings • Mar 22
Full year 2024 earnings released: NT$3.13 loss per share (vs NT$3.22 loss in FY 2023) Full year 2024 results: NT$3.13 loss per share (improved from NT$3.22 loss in FY 2023). Revenue: NT$899.2m (flat on FY 2023). Net loss: NT$134.9m (loss narrowed 2.8% from FY 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 78 percentage points per year, which is a significant difference in performance. Announcement • Mar 14
WiseChip Semiconductor Inc., Annual General Meeting, Jun 25, 2025 WiseChip Semiconductor Inc., Annual General Meeting, Jun 25, 2025. Location: no,36, k`o yen rd., jhunan township, miaoli county Taiwan Reported Earnings • Nov 19
Third quarter 2024 earnings released: NT$0.88 loss per share (vs NT$1.36 loss in 3Q 2023) Third quarter 2024 results: NT$0.88 loss per share (improved from NT$1.36 loss in 3Q 2023). Revenue: NT$232.3m (up 16% from 3Q 2023). Net loss: NT$38.0m (loss narrowed 35% from 3Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 85 percentage points per year, which is a significant difference in performance. New Risk • Sep 21
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 7.5% 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 Risks 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 21% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (7.5% average weekly change). Market cap is less than US$100m (NT$1.74b market cap, or US$54.3m). Buy Or Sell Opportunity • Sep 03
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 20% to NT$41.50. The fair value is estimated to be NT$34.40, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 19% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • Aug 17
Second quarter 2024 earnings released: NT$0.61 loss per share (vs NT$0.47 loss in 2Q 2023) Second quarter 2024 results: NT$0.61 loss per share (further deteriorated from NT$0.47 loss in 2Q 2023). Revenue: NT$233.1m (down 2.3% from 2Q 2023). Net loss: NT$26.5m (loss widened 31% from 2Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 77 percentage points per year, which is a significant difference in performance. Buy Or Sell Opportunity • Jul 05
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 8.5% to NT$37.00. The fair value is estimated to be NT$30.35, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 15% over the last 3 years. Meanwhile, the company became loss making. Buy Or Sell Opportunity • May 29
Now 21% overvalued Over the last 90 days, the stock has fallen 7.7% to NT$35.50. The fair value is estimated to be NT$29.29, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 15% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • May 19
First quarter 2024 earnings released: NT$0.72 loss per share (vs NT$0.086 profit in 1Q 2023) First quarter 2024 results: NT$0.72 loss per share (down from NT$0.086 profit in 1Q 2023). Revenue: NT$211.6m (down 18% from 1Q 2023). Net loss: NT$31.1m (down NT$34.8m from profit in 1Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 60 percentage points per year, which is a significant difference in performance. New Risk • May 19
New major risk - Revenue and earnings growth Earnings have declined by 9.8% 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 Risks 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 9.8% per year over the past 5 years. Minor Risk Market cap is less than US$100m (NT$1.42b market cap, or US$44.1m). Buy Or Sell Opportunity • Apr 11
Now 21% overvalued Over the last 90 days, the stock has fallen 10% to NT$35.80. The fair value is estimated to be NT$29.69, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 10% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • Mar 29
Full year 2023 earnings released: NT$3.22 loss per share (vs NT$4.10 profit in FY 2022) Full year 2023 results: NT$3.22 loss per share (down from NT$4.10 profit in FY 2022). Revenue: NT$895.6m (down 37% from FY 2022). Net loss: NT$138.9m (down 179% from profit in FY 2022). Over the last 3 years on average, earnings per share has fallen by 40% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Announcement • Mar 27
WiseChip Semiconductor Inc., Annual General Meeting, Jun 24, 2024 WiseChip Semiconductor Inc., Annual General Meeting, Jun 24, 2024. Buy Or Sell Opportunity • Mar 22
Now 22% overvalued Over the last 90 days, the stock has fallen 9.4% to NT$36.35. The fair value is estimated to be NT$29.68, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 4.7% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • Nov 15
Third quarter 2023 earnings released: NT$1.36 loss per share (vs NT$1.14 profit in 3Q 2022) Third quarter 2023 results: NT$1.36 loss per share (down from NT$1.14 profit in 3Q 2022). Revenue: NT$200.7m (down 45% from 3Q 2022). Net loss: NT$58.5m (down 219% from profit in 3Q 2022). Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. New Risk • Aug 14
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 225% Cash payout ratio: 257% Dividend yield: 6.6% 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: 225% Cash payout ratio: 257% Minor Risks Profit margins are more than 30% lower than last year (4.1% net profit margin). Market cap is less than US$100m (NT$1.71b market cap, or US$53.4m). Reported Earnings • Aug 13
Second quarter 2023 earnings released: NT$0.47 loss per share (vs NT$1.55 profit in 2Q 2022) Second quarter 2023 results: NT$0.47 loss per share (down from NT$1.55 profit in 2Q 2022). Revenue: NT$238.8m (down 40% from 2Q 2022). Net loss: NT$20.2m (down 130% from profit in 2Q 2022). Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jul 18
Upcoming dividend of NT$2.50 per share at 5.5% yield Eligible shareholders must have bought the stock before 25 July 2023. Payment date: 15 August 2023. Payout ratio is on the higher end at 80%, and the cash payout ratio is above 100%. Trailing yield: 5.5%. Within top quartile of Taiwanese dividend payers (5.4%). Higher than average of industry peers (3.1%). Reported Earnings • Mar 30
Full year 2022 earnings released: EPS: NT$4.09 (vs NT$4.47 in FY 2021) Full year 2022 results: EPS: NT$4.09 (down from NT$4.47 in FY 2021). Revenue: NT$1.42b (down 2.3% from FY 2021). Net income: NT$176.6m (down 11% from FY 2021). Profit margin: 12% (down from 14% in FY 2021). 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 30% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Mar 10
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 6.9%. The fair value is estimated to be NT$67.42, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.7% over the last 3 years. Earnings per share has grown by 65%. Buying Opportunity • Feb 21
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 8.2%. The fair value is estimated to be NT$67.85, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.7% over the last 3 years. Earnings per share has grown by 65%. Buying Opportunity • Feb 03
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 5.6%. The fair value is estimated to be NT$68.89, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.7% over the last 3 years. Earnings per share has grown by 65%. Valuation Update With 7 Day Price Move • Feb 02
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$56.80, the stock trades at a trailing P/E ratio of 11x. Average trailing P/E is 13x in the Semiconductor industry in Taiwan. Total returns to shareholders of 155% over the past three years. Reported Earnings • Nov 16
Third quarter 2022 earnings released: EPS: NT$1.14 (vs NT$1.25 in 3Q 2021) Third quarter 2022 results: EPS: NT$1.14 (down from NT$1.25 in 3Q 2021). Revenue: NT$364.4m (flat on 3Q 2021). Net income: NT$49.4m (down 11% from 3Q 2021). Profit margin: 14% (down from 15% in 3Q 2021). Over the last 3 years on average, earnings per share has increased by 65% per year but the company’s share price has only increased by 24% per year, which means it is significantly lagging earnings growth. 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. 6 experienced directors. 3 highly experienced directors. 2 independent directors (4 non-independent directors). Independent Director Shu Zhong Liao 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 13
Third quarter 2022 earnings released: EPS: NT$1.14 (vs NT$1.25 in 3Q 2021) Third quarter 2022 results: EPS: NT$1.14 (down from NT$1.25 in 3Q 2021). Revenue: NT$364.4m (flat on 3Q 2021). Net income: NT$49.4m (down 11% from 3Q 2021). Profit margin: 14% (down from 15% in 3Q 2021). Over the last 3 years on average, earnings per share has increased by 65% per year but the company’s share price has only increased by 23% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Oct 13
Investor sentiment deteriorated over the past week After last week's 15% share price decline to NT$50.10, the stock trades at a trailing P/E ratio of 9.5x. Average trailing P/E is 10x in the Semiconductor industry in Taiwan. Total returns to shareholders of 63% over the past three years. Buying Opportunity • Oct 13
Now 25% undervalued after recent price drop Over the last 90 days, the stock is down 9.1%. The fair value is estimated to be NT$66.94, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 69%. Buying Opportunity • Sep 19
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 7.3%. The fair value is estimated to be NT$73.26, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 69%. Reported Earnings • Aug 15
Second quarter 2022 earnings released: EPS: NT$1.55 (vs NT$1.00 in 2Q 2021) Second quarter 2022 results: EPS: NT$1.55 (up from NT$1.00 in 2Q 2021). Revenue: NT$395.3m (up 12% from 2Q 2021). Net income: NT$66.9m (up 49% from 2Q 2021). Profit margin: 17% (up from 13% in 2Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 69% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jul 25
Investor sentiment improved over the past week After last week's 17% share price gain to NT$66.00, the stock trades at a trailing P/E ratio of 13.8x. Average trailing P/E is 12x in the Semiconductor industry in Taiwan. Total returns to shareholders of 92% over the past three years. Upcoming Dividend • Jul 06
Upcoming dividend of NT$4.48 per share Eligible shareholders must have bought the stock before 13 July 2022. Payment date: 09 August 2022. Payout ratio is on the higher end at 95%, however this is supported by cash flows. Trailing yield: 7.5%. Within top quartile of Taiwanese dividend payers (6.6%). Higher than average of industry peers (4.0%). Valuation Update With 7 Day Price Move • Jun 28
Investor sentiment improved over the past week After last week's 15% share price gain to NT$71.10, the stock trades at a trailing P/E ratio of 14.9x. Average trailing P/E is 14x in the Semiconductor industry in Taiwan. Total returns to shareholders of 84% over the past three years. Reported Earnings • May 17
First quarter 2022 earnings released: EPS: NT$1.05 (vs NT$0.81 in 1Q 2021) First quarter 2022 results: EPS: NT$1.05 (up from NT$0.81 in 1Q 2021). Revenue: NT$350.2m (flat on 1Q 2021). Net income: NT$45.0m (up 23% from 1Q 2021). Profit margin: 13% (up from 10% in 1Q 2021). 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 19% 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. 2 independent directors (4 non-independent directors). Independent Director Shu Zhong Liao 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 • Mar 28
Full year 2021 earnings released: EPS: NT$4.47 (vs NT$1.99 in FY 2020) Full year 2021 results: EPS: NT$4.47 (up from NT$1.99 in FY 2020). Revenue: NT$1.45b (up 7.9% from FY 2020). Net income: NT$197.9m (up 121% from FY 2020). Profit margin: 14% (up from 6.6% in FY 2020). Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Mar 07
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 27%. The fair value is estimated to be NT$86.76, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 8.0% per annum over the last 3 years. Earnings per share has grown by 7.2% per annum over the last 3 years. Valuation Update With 7 Day Price Move • Feb 09
Investor sentiment improved over the past week After last week's 17% share price gain to NT$86.90, the stock trades at a trailing P/E ratio of 22x. Average trailing P/E is 21x in the Semiconductor industry in Taiwan. Total returns to shareholders of 103% over the past three years. Valuation Update With 7 Day Price Move • Dec 29
Investor sentiment deteriorated over the past week After last week's 21% share price decline to NT$85.30, the stock trades at a trailing P/E ratio of 21.6x. Average trailing P/E is 22x in the Semiconductor industry in Taiwan. Total returns to shareholders of 103% over the past three years. Valuation Update With 7 Day Price Move • Dec 01
Investor sentiment improved over the past week After last week's 15% share price gain to NT$60.60, the stock trades at a trailing P/E ratio of 15.3x. Average trailing P/E is 22x in the Semiconductor industry in Taiwan. Total returns to shareholders of 31% over the past three years. Reported Earnings • Nov 15
Third quarter 2021 earnings released: EPS NT$1.25 (vs NT$0.38 in 3Q 2020) The company reported a solid third quarter result with improved earnings and profit margins, although revenues were flat. Third quarter 2021 results: Revenue: NT$362.7m (flat on 3Q 2020). Net income: NT$55.4m (up 225% from 3Q 2020). Profit margin: 15% (up from 4.7% in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Oct 07
Investor sentiment deteriorated over the past week After last week's 16% share price decline to NT$45.40, the stock trades at a trailing P/E ratio of 15.3x. Average trailing P/E is 18x in the Semiconductor industry in Taiwan. Total returns to shareholders of 2.3% over the past three years. Valuation Update With 7 Day Price Move • Oct 07
Investor sentiment deteriorated over the past week After last week's 16% share price decline to NT$45.40, the stock trades at a trailing P/E ratio of 15.3x. Average trailing P/E is 18x in the Semiconductor industry in Taiwan. Total returns to shareholders of 2.3% over the past three years. Reported Earnings • Aug 18
Second quarter 2021 earnings released: EPS NT$1.00 (vs NT$0.63 in 2Q 2020) The company reported a decent second quarter result with improved earnings and profit margins, although revenues were weaker. Second quarter 2021 results: Revenue: NT$354.1m (down 5.5% from 2Q 2020). Net income: NT$45.0m (up 58% from 2Q 2020). Profit margin: 13% (up from 7.6% in 2Q 2020). The increase in margin was driven by lower 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 9% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Jul 21
Upcoming dividend of NT$1.00 per share Eligible shareholders must have bought the stock before 28 July 2021. Payment date: 25 August 2021. Trailing yield: 2.3%. Lower than top quartile of Taiwanese dividend payers (5.0%). In line with average of industry peers (2.2%). Reported Earnings • May 16
First quarter 2021 earnings released: EPS NT$0.81 (vs NT$0.21 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$353.4m (up 33% from 1Q 2020). Net income: NT$36.6m (up 290% from 1Q 2020). Profit margin: 10% (up from 3.5% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 52% per year but the company’s share price has only fallen by 19% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • May 04
Investor sentiment deteriorated over the past week After last week's 17% share price decline to NT$48.35, the stock trades at a trailing P/E ratio of 24.3x. Average trailing P/E is 29x in the Semiconductor industry in Taiwan. Total loss to shareholders of 23% over the past three years. Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment improved over the past week After last week's 21% share price gain to NT$49.05, the stock trades at a trailing P/E ratio of 24.6x. Average trailing P/E is 28x in the Semiconductor industry in Taiwan. Total loss to shareholders of 33% over the past three years. Reported Earnings • Mar 30
Full year 2020 earnings released: EPS NT$1.99 (vs NT$0.35 in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were flat. Full year 2020 results: Revenue: NT$1.35b (flat on FY 2019). Net income: NT$89.5m (up 466% from FY 2019). Profit margin: 6.6% (up from 1.2% in FY 2019). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 45 percentage points per year, which is a significant difference in performance. Is New 90 Day High Low • Dec 28
New 90-day high: NT$41.90 The company is up 32% from its price of NT$31.65 on 30 September 2020. The Taiwanese market is up 15% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Semiconductor industry, which is up 22% over the same period. Valuation Update With 7 Day Price Move • Dec 02
Market bids up stock over the past week After last week's 15% share price gain to NT$40.50, the stock is trading at a trailing P/E ratio of 31.6x, up from the previous P/E ratio of 27.4x. This compares to an average P/E of 24x in the Semiconductor industry in Taiwan. Total return to shareholders over the past three years is a loss of 59%. Valuation Update With 7 Day Price Move • Nov 27
Market bids up stock over the past week After last week's 23% share price gain to NT$38.60, the stock is trading at a trailing P/E ratio of 30x, up from the previous P/E ratio of 24.4x. This compares to an average P/E of 23x in the Semiconductor industry in Taiwan. Total return to shareholders over the past three years is a loss of 62%. Reported Earnings • Nov 14
Third quarter 2020 earnings released: EPS NT$0.38 The company reported a soft third quarter result with weaker earnings and profit margins, although revenues were improved. Third quarter 2020 results: Revenue: NT$359.6m (up 2.1% from 3Q 2019). Net income: NT$17.1m (down 23% from 3Q 2019). Profit margin: 4.7% (down from 6.3% in 3Q 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 72% per year but the company’s share price has only fallen by 34% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Oct 29
New 90-day low: NT$30.45 The company is down 22% from its price of NT$38.90 on 31 July 2020. The Taiwanese market is up 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Semiconductor industry, which is up 2.0% over the same period. Is New 90 Day High Low • Sep 24
New 90-day low: NT$32.90 The company is down 25% from its price of NT$44.10 on 24 June 2020. The Taiwanese market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Semiconductor industry, which is up 26% over the same period.