Buy Or Sell Opportunity • Apr 09
Now 25% overvalued after recent price rise Over the last 90 days, the stock has risen 20% to NT$14.55. The fair value is estimated to be NT$11.65, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 26% over the last 3 years. Meanwhile, the company became loss making. New Risk • Mar 22
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 8.0% 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. Dividend per share is over 11x earnings per share. Paying a dividend despite having no free cash flows. Earnings have declined by 13% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (8.0% average weekly change). Market cap is less than US$100m (NT$2.18b market cap, or US$68.2m). Buy Or Sell Opportunity • Mar 16
Now 26% overvalued after recent price rise Over the last 90 days, the stock has risen 23% to NT$14.50. The fair value is estimated to be NT$11.54, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 26% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • Mar 14
Full year 2025 earnings released: NT$0.03 loss per share (vs NT$0.023 profit in FY 2024) Full year 2025 results: NT$0.03 loss per share (down from NT$0.023 profit in FY 2024). Revenue: NT$1.21b (up 13% from FY 2024). Net loss: NT$5.02m (down 252% from profit in FY 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 90 percentage points per year, which is a significant difference in performance. Announcement • Mar 12
Powertip Technology Corporation, Annual General Meeting, Jun 16, 2026 Powertip Technology Corporation, Annual General Meeting, Jun 16, 2026, at 09:00 Taipei Standard Time. Location: no,8, kung yeh ou 6th rd., hsi tun district, taichung city Taiwan Reported Earnings • Nov 18
Third quarter 2025 earnings released: EPS: NT$0.07 (vs NT$0.007 loss in 3Q 2024) Third quarter 2025 results: EPS: NT$0.07 (up from NT$0.007 loss in 3Q 2024). Revenue: NT$336.4m (up 21% from 3Q 2024). Net income: NT$10.2m (up NT$11.2m from 3Q 2024). Profit margin: 3.0% (up from net loss in 3Q 2024). 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. New Risk • Nov 17
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 444% The company is paying a dividend despite having no free cash flows. Dividend yield: 1.9% 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: 444% Paying a dividend despite having no free cash flows. Earnings have declined by 2.1% 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 (0.6% net profit margin). Market cap is less than US$100m (NT$1.74b market cap, or US$55.7m). Board Change • Oct 22
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Director Kuang-Wei Hu was the last independent director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Oct 01
Upcoming dividend of NT$1.00 per share Eligible shareholders must have bought the stock before 08 October 2025. Payment date: 30 October 2025. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 1.6%. Lower than top quartile of Taiwanese dividend payers (5.3%). Lower than average of industry peers (1.9%). New Risk • Aug 15
New major risk - Revenue and earnings growth Earnings have declined by 2.1% 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 2.1% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (7.3% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.6% net profit margin). Market cap is less than US$100m (NT$2.16b market cap, or US$71.8m). Upcoming Dividend • Jun 13
Upcoming dividend of NT$0.20 per share Eligible shareholders must have bought the stock before 20 June 2025. Payment date: 18 July 2025. The company is not currently making a profit and is not cash flow positive. Trailing yield: 1.4%. Lower than top quartile of Taiwanese dividend payers (5.2%). Lower than average of industry peers (2.3%). New Risk • May 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 8.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (8.7% average weekly change). Market cap is less than US$100m (NT$2.16b market cap, or US$71.9m). Reported Earnings • May 15
First quarter 2025 earnings released: NT$0.03 loss per share (vs NT$0.035 profit in 1Q 2024) First quarter 2025 results: NT$0.03 loss per share (down from NT$0.035 profit in 1Q 2024). Revenue: NT$252.6m (down 7.6% from 1Q 2024). Net loss: NT$4.37m (down 178% from profit in 1Q 2024). Over the last 3 years on average, earnings per share has fallen by 44% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Declared Dividend • May 10
Dividend reduced to NT$0.20 Dividend of NT$0.20 is 60% lower than last year. Ex-date: 20th June 2025 Payment date: 18th July 2025 Dividend yield will be 1.7%, which is lower than the industry average of 3.0%. Sustainability & Growth Dividend is not covered by earnings (dividend approximately 9x earnings) 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 increased by an average of 1.7% per year over the past 3 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 988% to bring the payout ratio under control. However, EPS has declined by 54% over the last 5 years so the company would need to reverse this trend. Announcement • May 01
Powertip Technology Corporation to Report Q1, 2025 Results on May 08, 2025 Powertip Technology Corporation announced that they will report Q1, 2025 results on May 08, 2025 Reported Earnings • Mar 20
Full year 2024 earnings released Full year 2024 results: Revenue: NT$1.07b (down 37% from FY 2023). Net income: NT$3.31m (down 98% from FY 2023). Profit margin: 0.3% (down from 12% in FY 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Announcement • Mar 13
Powertip Technology Corporation, Annual General Meeting, Jun 19, 2025 Powertip Technology Corporation, Annual General Meeting, Jun 19, 2025. Location: no,8, kung yeh ou 6th rd., hsi tun district, taichung city Taiwan Announcement • Mar 05
Powertip Technology Corporation to Report Q4, 2024 Results on Mar 12, 2025 Powertip Technology Corporation announced that they will report Q4, 2024 results on Mar 12, 2025 Reported Earnings • Nov 18
Third quarter 2024 earnings released: NT$0.01 loss per share (vs NT$0.40 profit in 3Q 2023) Third quarter 2024 results: NT$0.01 loss per share (down from NT$0.40 profit in 3Q 2023). Revenue: NT$278.8m (down 34% from 3Q 2023). Net loss: NT$992.0k (down 101% from profit in 3Q 2023). Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has increased by 8% per year. Reported Earnings • Aug 17
Second quarter 2024 earnings released: NT$0.12 loss per share (vs NT$0.50 profit in 2Q 2023) Second quarter 2024 results: NT$0.12 loss per share (down from NT$0.50 profit in 2Q 2023). Revenue: NT$207.3m (down 58% from 2Q 2023). Net loss: NT$18.8m (down 123% from profit in 2Q 2023). 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 16% per year, which means it is significantly lagging earnings growth. Announcement • Aug 01
Powertip Technology Corporation to Report Q2, 2024 Results on Aug 08, 2024 Powertip Technology Corporation announced that they will report Q2, 2024 results on Aug 08, 2024 Buy Or Sell Opportunity • Jul 30
Now 21% overvalued Over the last 90 days, the stock has fallen 6.8% to NT$14.50. The fair value is estimated to be NT$11.98, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 3.1% over the last 3 years. Earnings per share has grown by 47%. Upcoming Dividend • Jun 14
Upcoming dividend of NT$0.50 per share Eligible shareholders must have bought the stock before 21 June 2024. Payment date: 23 July 2024. Payout ratio is a comfortable 44% and this is well supported by cash flows. Trailing yield: 3.1%. Lower than top quartile of Taiwanese dividend payers (4.2%). Higher than average of industry peers (2.1%). Reported Earnings • May 19
First quarter 2024 earnings released: EPS: NT$0.03 (vs NT$0.16 in 1Q 2023) First quarter 2024 results: EPS: NT$0.03 (down from NT$0.16 in 1Q 2023). Revenue: NT$273.4m (down 40% from 1Q 2023). Net income: NT$5.64m (down 78% from 1Q 2023). Profit margin: 2.1% (down from 5.7% in 1Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 47% per year but the company’s share price has only increased by 24% per year, which means it is significantly lagging earnings growth. Announcement • May 02
Powertip Technology Corporation to Report Q1, 2024 Results on May 09, 2024 Powertip Technology Corporation announced that they will report Q1, 2024 results on May 09, 2024 New Risk • Apr 22
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 6.5% 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: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.5% average weekly change). Market cap is less than US$100m (NT$2.51b market cap, or US$77.0m). Reported Earnings • Mar 20
Full year 2023 earnings released: EPS: NT$1.25 (vs NT$1.54 in FY 2022) Full year 2023 results: EPS: NT$1.25 (down from NT$1.54 in FY 2022). Revenue: NT$1.71b (down 21% from FY 2022). Net income: NT$203.3m (down 18% from FY 2022). Profit margin: 12% (in line with FY 2022). 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 25% per year, which means it is significantly lagging earnings growth. Announcement • Mar 14
Powertip Technology Corporation, Annual General Meeting, Jun 20, 2024 Powertip Technology Corporation, Annual General Meeting, Jun 20, 2024. Location: No. 8, Gongyequ 6th Rd., Xitun Dist Taichung City Taiwan Agenda: To consider 2023 Business Report; to consider audit Committees Review Report on 2023 Final Account Statements; to consider 2023 Annual Report on Employee Compensation and Director Compensation; to consider Report on the Distribution of Cash Dividends from Earnings in 2023; and to discuss other matters. Valuation Update With 7 Day Price Move • Jan 24
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$17.25, the stock trades at a trailing P/E ratio of 12.7x. Average trailing P/E is 26x in the Semiconductor industry in Taiwan. Total returns to shareholders of 130% over the past three years. Reported Earnings • Nov 15
Third quarter 2023 earnings released: EPS: NT$0.40 (vs NT$0.50 in 3Q 2022) Third quarter 2023 results: EPS: NT$0.40 (down from NT$0.50 in 3Q 2022). Revenue: NT$424.7m (down 25% from 3Q 2022). Net income: NT$64.2m (down 21% from 3Q 2022). Profit margin: 15% (in line with 3Q 2022). 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 32% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Aug 17
Upcoming dividend of NT$0.70 per share at 4.1% yield Eligible shareholders must have bought the stock before 24 August 2023. Payment date: 19 September 2023. Payout ratio is a comfortable 48% and this is well supported by cash flows. Trailing yield: 4.1%. Lower than top quartile of Taiwanese dividend payers (5.7%). Higher than average of industry peers (3.4%). Reported Earnings • Aug 13
Second quarter 2023 earnings released: EPS: NT$0.50 (vs NT$0.45 in 2Q 2022) Second quarter 2023 results: EPS: NT$0.50 (up from NT$0.45 in 2Q 2022). Revenue: NT$493.0m (down 13% from 2Q 2022). Net income: NT$81.1m (up 10% from 2Q 2022). Profit margin: 16% (up from 13% in 2Q 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has only increased by 32% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • May 02
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to NT$20.15, the stock trades at a trailing P/E ratio of 13.1x. Average trailing P/E is 16x in the Semiconductor industry in Taiwan. Total returns to shareholders of 237% over the past three years. Valuation Update With 7 Day Price Move • Apr 17
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to NT$16.70, the stock trades at a trailing P/E ratio of 10.9x. Average trailing P/E is 17x in the Semiconductor industry in Taiwan. Total returns to shareholders of 182% over the past three years. Reported Earnings • Mar 29
Full year 2022 earnings released: EPS: NT$1.54 (vs NT$0.50 in FY 2021) Full year 2022 results: EPS: NT$1.54 (up from NT$0.50 in FY 2021). Revenue: NT$2.15b (up 15% from FY 2021). Net income: NT$249.0m (up 208% from FY 2021). Profit margin: 12% (up from 4.3% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has increased by 38% per year, which means it is tracking significantly ahead of earnings growth. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 5 non-independent directors. Independent Director Zhujian Feng was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 13
Third quarter 2022 earnings released: EPS: NT$0.50 (vs NT$0.20 in 3Q 2021) Third quarter 2022 results: EPS: NT$0.50 (up from NT$0.20 in 3Q 2021). Revenue: NT$568.3m (up 9.6% from 3Q 2021). Net income: NT$81.2m (up 145% from 3Q 2021). Profit margin: 14% (up from 6.4% in 3Q 2021). Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 19% per year, which means it is well ahead of earnings. Upcoming Dividend • Aug 16
Upcoming dividend of NT$0.19 per share Eligible shareholders must have bought the stock before 23 August 2022. Payment date: 15 September 2022. Trailing yield: 1.2%. Lower than top quartile of Taiwanese dividend payers (6.5%). Lower than average of industry peers (3.5%). Valuation Update With 7 Day Price Move • Jun 10
Investor sentiment improved over the past week After last week's 17% share price gain to NT$13.95, the stock trades at a trailing P/E ratio of 19.8x. Average trailing P/E is 15x in the Semiconductor industry in Taiwan. Total returns to shareholders of 88% over the past three years. Valuation Update With 7 Day Price Move • May 19
Investor sentiment improved over the past week After last week's 18% share price gain to NT$12.55, the stock trades at a trailing P/E ratio of 17.8x. Average trailing P/E is 15x in the Semiconductor industry in Taiwan. Total returns to shareholders of 68% over the past three years. Reported Earnings • May 16
First quarter 2022 earnings released: EPS: NT$0.27 (vs NT$0.066 in 1Q 2021) First quarter 2022 results: EPS: NT$0.27 (up from NT$0.066 in 1Q 2021). Revenue: NT$531.6m (up 47% from 1Q 2021). Net income: NT$44.3m (up 312% from 1Q 2021). Profit margin: 8.3% (up from 3.0% in 1Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 43% per year but the company’s share price has increased by 16% per year, which means it is well ahead of earnings. Reported Earnings • Mar 30
Full year 2021 earnings released Full year 2021 results: Revenue: NT$1.88b (up 25% from FY 2020). Net income: NT$80.9m (up 98% from FY 2020). Profit margin: 4.3% (up from 2.7% in FY 2020). The increase in margin was driven by higher revenue. Announcement • Mar 23
Powertip Technology Corporation, Annual General Meeting, Jun 08, 2022 Powertip Technology Corporation, Annual General Meeting, Jun 08, 2022. Valuation Update With 7 Day Price Move • Dec 20
Investor sentiment improved over the past week After last week's 21% share price gain to NT$16.20, the stock trades at a trailing P/E ratio of 51.9x. Average trailing P/E is 22x in the Semiconductor industry in Taiwan. Total returns to shareholders of 136% over the past three years. Valuation Update With 7 Day Price Move • Nov 22
Investor sentiment improved over the past week After last week's 22% share price gain to NT$12.25, the stock trades at a trailing P/E ratio of 39.2x. Average trailing P/E is 20x in the Semiconductor industry in Taiwan. Total returns to shareholders of 77% over the past three years. Reported Earnings • Nov 15
Third quarter 2021 earnings released: EPS NT$0.20 (vs NT$0.009 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$518.7m (up 44% from 3Q 2020). Net income: NT$33.2m (up NT$31.8m from 3Q 2020). Profit margin: 6.4% (up from 0.4% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 51% per year but the company’s share price has increased by 14% per year, which means it is well ahead of earnings. Reported Earnings • Aug 18
Second quarter 2021 earnings released: EPS NT$0.12 (vs NT$0.19 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$429.6m (up 6.5% from 2Q 2020). Net income: NT$19.4m (down 37% from 2Q 2020). Profit margin: 4.5% (down from 7.6% 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 42% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Jul 26
Investor sentiment improved over the past week After last week's 18% share price gain to NT$9.94, the stock trades at a trailing P/E ratio of 53.3x. Average trailing P/E is 27x in the Semiconductor industry in Taiwan. Total returns to shareholders of 46% over the past three years. Reported Earnings • May 16
First quarter 2021 earnings released: EPS NT$0.07 (vs NT$0.13 in 1Q 2020) The company reported a poor first quarter result with weaker earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$362.6m (down 7.3% from 1Q 2020). Net income: NT$10.8m (down 50% from 1Q 2020). Profit margin: 3.0% (down from 5.5% in 1Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • May 13
Investor sentiment deteriorated over the past week After last week's 18% share price decline to NT$8.12, the stock trades at a trailing P/E ratio of 32.2x. Average trailing P/E is 22x in the Semiconductor industry in Taiwan. Total returns to shareholders of 27% over the past three years. Valuation Update With 7 Day Price Move • Apr 11
Investor sentiment improved over the past week After last week's 26% share price gain to NT$10.35, the stock trades at a trailing P/E ratio of 41.4x. Average trailing P/E is 30x in the Semiconductor industry in Taiwan. Total returns to shareholders of 51% over the past three years. Reported Earnings • Apr 01
Full year 2020 earnings released: EPS NT$0.25 (vs NT$0.95 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$1.50b (down 25% from FY 2019). Net income: NT$40.9m (down 73% from FY 2019). Profit margin: 2.7% (down from 7.7% in FY 2019). Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Jan 14
New 90-day high: NT$8.08 The company is up 16% from its price of NT$6.98 on 16 October 2020. The Taiwanese market is up 22% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Semiconductor industry, which is up 34% over the same period. Is New 90 Day High Low • Dec 25
New 90-day high: NT$7.86 The company is up 5.0% from its price of NT$7.52 on 25 September 2020. The Taiwanese market is up 16% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Semiconductor industry, which is up 24% over the same period. Reported Earnings • Nov 08
Third quarter 2020 earnings released: EPS NT$0.01 The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2020 results: Revenue: NT$361.2m (down 32% from 3Q 2019). Net income: NT$1.44m (down 98% from 3Q 2019). Profit margin: 0.4% (down from 11% in 3Q 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 4% per year whereas the company’s share price has fallen by 7% per year. Is New 90 Day High Low • Nov 07
New 90-day low: NT$6.74 The company is down 5.0% from its price of NT$7.11 on 07 August 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 3.0% over the same period. Is New 90 Day High Low • Sep 24
New 90-day high: NT$7.99 The company is up 13% from its price of NT$7.07 on 24 June 2020. The Taiwanese market is up 7.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Semiconductor industry, which is up 26% over the same period.