Reported Earnings • May 16
First quarter 2026 earnings released: NT$0.16 loss per share (vs NT$0.27 loss in 1Q 2025) First quarter 2026 results: NT$0.16 loss per share (improved from NT$0.27 loss in 1Q 2025). Revenue: NT$175.4m (up 11% from 1Q 2025). Net loss: NT$22.5m (loss narrowed 40% 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 33% per year, which means it has not declined as severely as earnings. Reported Earnings • Mar 14
Full year 2025 earnings released: NT$1.01 loss per share (vs NT$0.86 loss in FY 2024) Full year 2025 results: NT$1.01 loss per share (further deteriorated from NT$0.86 loss in FY 2024). Revenue: NT$658.4m (up 10% from FY 2024). Net loss: NT$141.9m (loss widened 18% from FY 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 72 percentage points per year, which is a significant difference in performance. Announcement • Mar 06
Forward Electronics Co., Ltd., Annual General Meeting, Jun 17, 2026 Forward Electronics Co., Ltd., Annual General Meeting, Jun 17, 2026. Location: no,393, sec.1 chung cheng rd., sansia district, new taipei city Taiwan New Risk • Sep 17
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: Major Risk Earnings have declined by 19% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (6.5% average weekly change). Reported Earnings • Aug 13
Second quarter 2025 earnings released: NT$0.44 loss per share (vs NT$0.056 loss in 2Q 2024) Second quarter 2025 results: NT$0.44 loss per share (further deteriorated from NT$0.056 loss in 2Q 2024). Revenue: NT$164.7m (up 17% from 2Q 2024). Net loss: NT$61.4m (loss widened NT$53.6m from 2Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 93 percentage points per year, which is a significant difference in performance. Reported Earnings • May 14
First quarter 2025 earnings released: NT$0.27 loss per share (vs NT$0.17 loss in 1Q 2024) First quarter 2025 results: NT$0.27 loss per share (further deteriorated from NT$0.17 loss in 1Q 2024). Revenue: NT$157.7m (up 13% from 1Q 2024). Net loss: NT$37.3m (loss widened 58% from 1Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 101 percentage points per year, which is a significant difference in performance. Announcement • Apr 29
Forward Electronics Co., Ltd. to Report Q1, 2025 Results on May 06, 2025 Forward Electronics Co., Ltd. announced that they will report Q1, 2025 results on May 06, 2025 New Risk • Apr 07
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: NT$3.15b (US$95.3m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (6.9% average weekly change). Market cap is less than US$100m (NT$3.15b market cap, or US$95.3m). New Risk • Mar 31
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 6.4% 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. This is currently the only risk that has been identified for the company. Reported Earnings • Mar 21
Full year 2024 earnings released: NT$0.86 loss per share (vs NT$1.00 loss in FY 2023) Full year 2024 results: NT$0.86 loss per share (improved from NT$1.00 loss in FY 2023). Revenue: NT$596.3m (down 18% from FY 2023). Net loss: NT$120.4m (loss narrowed 14% from FY 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 105 percentage points per year, which is a significant difference in performance. Announcement • Feb 15
Forward Electronics Co., Ltd. to Report Fiscal Year 2024 Results on Feb 24, 2025 Forward Electronics Co., Ltd. announced that they will report fiscal year 2024 results on Feb 24, 2025 New Risk • Feb 03
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 6.3% 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. This is currently the only risk that has been identified for the company. Announcement • Dec 28
Forward Electronics Co., Ltd. Announces the Re-Assignment of the Company's Institutional Director Representative Forward Electronics Co., Ltd. announced that title and name of the new position holder: Director: Tatung Company Representative: Wang,Ya-Hsuan. Resume of the new position holder: President of Lung Hwa Electronics Co., Ltd. Effective date of the new appointment is December 27, 2024. Reported Earnings • Nov 19
Third quarter 2024 earnings released: NT$0.43 loss per share (vs NT$0.075 loss in 3Q 2023) Third quarter 2024 results: NT$0.43 loss per share (further deteriorated from NT$0.075 loss in 3Q 2023). Revenue: NT$170.1m (down 1.1% from 3Q 2023). Net loss: NT$59.5m (loss widened 467% from 3Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 105 percentage points per year, which is a significant difference in performance. Announcement • Oct 24
Forward Electronics Co., Ltd. to Report Q3, 2024 Results on Oct 31, 2024 Forward Electronics Co., Ltd. announced that they will report Q3, 2024 results on Oct 31, 2024 Reported Earnings • Oct 19
Second quarter 2024 earnings released: NT$0.056 loss per share (vs NT$0.029 loss in 2Q 2023) Second quarter 2024 results: NT$0.056 loss per share (further deteriorated from NT$0.029 loss in 2Q 2023). Revenue: NT$140.4m (down 28% from 2Q 2023). Net loss: NT$7.89m (loss widened 97% from 2Q 2023). Over the last 3 years on average, earnings per share has fallen by 61% per year but the company’s share price has increased by 20% per year, which means it is well ahead of earnings. Announcement • Sep 07
Forward Electronics Co., Ltd. Announces Resignation of Yeh Huang-Chi as Independent Director and as Convener and Member of Audit Committee and Remuneration Committee Forward Electronics Co., Ltd. announced resignation of Yeh Huang-Chi as independent director, as a convener and member of the Audit Committee and a convener and member of the Remuneration Committee. Date of occurrence of the change is September 6, 2024. Reported Earnings • Aug 18
Second quarter 2024 earnings released: NT$0.06 loss per share (vs NT$0.029 loss in 2Q 2023) Second quarter 2024 results: NT$0.06 loss per share (further deteriorated from NT$0.029 loss in 2Q 2023). Revenue: NT$140.4m (down 28% from 2Q 2023). Net loss: NT$7.89m (loss widened 97% from 2Q 2023). Over the last 3 years on average, earnings per share has fallen by 61% per year but the company’s share price has increased by 44% per year, which means it is well ahead of earnings. Announcement • Jul 31
Forward Electronics Co., Ltd. to Report Q2, 2024 Results on Aug 07, 2024 Forward Electronics Co., Ltd. announced that they will report Q2, 2024 results on Aug 07, 2024 Announcement • May 29
Forward Electronics Co., Ltd. Announces Committee Changes Forward Electronics Co., Ltd. announced the appointment of Yeh Huang-Chi, Shi Yi-Chen and Chiu Jin-Yi as members of the Remuneration Committee and Wang Jia-Nan is leaving the committee, while Yeh Huang-Chi is transitioning from their previous term to a new term on the committee. Original term (from/to): from 2021/08/09 to 2024/08/08. Effective date of the new member: May 27, 2024. Reported Earnings • May 19
First quarter 2024 earnings released: NT$0.17 loss per share (vs NT$0.12 loss in 1Q 2023) First quarter 2024 results: NT$0.17 loss per share (further deteriorated from NT$0.12 loss in 1Q 2023). Revenue: NT$139.6m (down 34% from 1Q 2023). Net loss: NT$23.6m (loss widened 41% from 1Q 2023). Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has increased by 69% per year, which means it is well ahead of earnings. Announcement • May 02
Forward Electronics Co., Ltd. to Report Q1, 2024 Results on May 09, 2024 Forward Electronics Co., Ltd. announced that they will report Q1, 2024 results on May 09, 2024 Reported Earnings • Mar 17
Full year 2023 earnings released: NT$1.00 loss per share (vs NT$1.23 profit in FY 2022) Full year 2023 results: NT$1.00 loss per share (down from NT$1.23 profit in FY 2022). Revenue: NT$722.6m (down 19% from FY 2022). Net loss: NT$140.3m (down 182% from profit in FY 2022). 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 68% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jan 10
Forward Electronics Co., Ltd. Appoints Shen,Ying-I as General Manager Forward Electronics Co., Ltd. announced that the board of directors approved the new general manager. Name of the new position holder: Shen,Ying-I; Resume of the new position holder: Chief investment officer of Yapotun Investment ltd. Effective date of the new appointment is January 9, 2024. New Risk • Nov 21
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: 2.3% Last year net profit margin: 14% 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 Share price has been highly volatile over the past 3 months (9.6% average weekly change). Minor Risk Profit margins are more than 30% lower than last year (2.3% net profit margin). Valuation Update With 7 Day Price Move • Nov 03
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to NT$38.10, the stock trades at a trailing P/E ratio of 47.6x. Average trailing P/E is 22x in the Semiconductor industry in Taiwan. Total returns to shareholders of 400% over the past three years. Valuation Update With 7 Day Price Move • Sep 07
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to NT$34.40, the stock trades at a trailing P/E ratio of 43x. Average trailing P/E is 23x in the Semiconductor industry in Taiwan. Total returns to shareholders of 539% over the past three years. New Risk • Aug 21
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 23% 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: Minor Risks Share price has been volatile over the past 3 months (6.8% average weekly change). Large one-off items impacting financial results. Reported Earnings • Aug 12
Second quarter 2023 earnings released: NT$0.03 loss per share (vs NT$0.14 profit in 2Q 2022) Second quarter 2023 results: NT$0.03 loss per share (down from NT$0.14 profit in 2Q 2022). Revenue: NT$193.7m (down 2.5% from 2Q 2022). Net loss: NT$4.00m (down 120% from profit in 2Q 2022). Over the last 3 years on average, earnings per share has increased by 118% per year whereas the company’s share price has increased by 114% per year. Upcoming Dividend • Jun 29
Upcoming dividend of NT$0.10 per share at 0.2% yield Eligible shareholders must have bought the stock before 06 July 2023. Payment date: 10 August 2023. Payout ratio is a comfortable 10% and the cash payout ratio is 81%. Trailing yield: 0.2%. Lower than top quartile of Taiwanese dividend payers (5.5%). Lower than average of industry peers (3.2%). Valuation Update With 7 Day Price Move • Jun 19
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$45.05, the stock trades at a trailing P/E ratio of 46.3x. Average trailing P/E is 20x in the Semiconductor industry in Taiwan. Total returns to shareholders of 825% over the past three years. New Risk • Jun 13
New major 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 7.6% 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. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • May 03
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to NT$29.80, the stock trades at a trailing P/E ratio of 24.2x. Average trailing P/E is 16x in the Semiconductor industry in Taiwan. Total returns to shareholders of 644% over the past three years. Valuation Update With 7 Day Price Move • Apr 18
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to NT$24.05, the stock trades at a trailing P/E ratio of 19.6x. Average trailing P/E is 17x in the Semiconductor industry in Taiwan. Total returns to shareholders of 549% over the past three years. Reported Earnings • Mar 19
Full year 2022 earnings released: EPS: NT$1.23 (vs NT$0.24 in FY 2021) Full year 2022 results: EPS: NT$1.23 (up from NT$0.24 in FY 2021). Revenue: NT$893.8m (down 2.3% from FY 2021). Net income: NT$172.0m (up 415% from FY 2021). Profit margin: 19% (up from 3.7% in FY 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 122% per year but the company’s share price has only increased by 77% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 16
Third quarter 2022 earnings released: EPS: NT$0.59 (vs NT$0.12 in 3Q 2021) Third quarter 2022 results: EPS: NT$0.59 (up from NT$0.12 in 3Q 2021). Revenue: NT$251.8m (up 4.6% from 3Q 2021). Net income: NT$82.8m (up 393% from 3Q 2021). Profit margin: 33% (up from 7.0% in 3Q 2021). The increase in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 109% per year but the company’s share price has only increased by 62% per year, which means it is significantly lagging earnings growth. Board Change • Nov 16
Less than half of directors are independent There are 7 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 7 new directors. 2 experienced directors. No highly experienced directors. 3 independent directors (6 non-independent directors). Chairman Frank Wang is the most experienced director on the board, commencing their role in 2022. Independent Director Ye Huangqi 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. Lack of board continuity. Lack of experienced directors. Reported Earnings • Nov 13
Third quarter 2022 earnings released: EPS: NT$0.59 (vs NT$0.12 in 3Q 2021) Third quarter 2022 results: EPS: NT$0.59 (up from NT$0.12 in 3Q 2021). Revenue: NT$251.8m (up 4.6% from 3Q 2021). Net income: NT$82.8m (up 393% from 3Q 2021). Profit margin: 33% (up from 7.0% in 3Q 2021). The increase in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 109% per year but the company’s share price has only increased by 62% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Sep 02
Investor sentiment improved over the past week After last week's 15% share price gain to NT$24.35, the stock trades at a trailing P/E ratio of 57.7x. Average trailing P/E is 13x in the Semiconductor industry in Taiwan. Total returns to shareholders of 381% over the past three years. Reported Earnings • Aug 16
Second quarter 2022 earnings released: EPS: NT$0.14 (vs NT$0.019 in 2Q 2021) Second quarter 2022 results: EPS: NT$0.14 (up from NT$0.019 in 2Q 2021). Revenue: NT$198.6m (down 17% from 2Q 2021). Net income: NT$20.2m (up NT$17.5m from 2Q 2021). Profit margin: 10% (up from 1.1% in 2Q 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 93% per year but the company’s share price has only increased by 56% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jul 19
Upcoming dividend of NT$0.20 per share Eligible shareholders must have bought the stock before 26 July 2022. Payment date: 31 August 2022. Trailing yield: 1.0%. Lower than top quartile of Taiwanese dividend payers (6.8%). Lower than average of industry peers (3.7%). Reported Earnings • May 16
First quarter 2022 earnings released: EPS: NT$0.14 (vs NT$0.078 in 1Q 2021) First quarter 2022 results: EPS: NT$0.14 (up from NT$0.078 in 1Q 2021). Revenue: NT$215.5m (down 7.6% from 1Q 2021). Net income: NT$19.1m (up 75% from 1Q 2021). Profit margin: 8.8% (up from 4.7% in 1Q 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 79% per year but the company’s share price has only increased by 51% per year, which means it is significantly lagging earnings growth. Board Change • Apr 27
Less than half of directors are independent There are 6 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 3 independent directors. 6 non-independent directors. Independent Director Ting-Kuo Chen was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Valuation Update With 7 Day Price Move • Mar 22
Investor sentiment improved over the past week After last week's 16% share price gain to NT$18.90, the stock trades at a trailing P/E ratio of 79.2x. Average trailing P/E is 18x in the Semiconductor industry in Taiwan. Total returns to shareholders of 236% over the past three years. Reported Earnings • Mar 13
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: NT$0.24 (up from NT$0.53 loss in FY 2020). Revenue: NT$914.5m (up 13% from FY 2020). Net income: NT$33.4m (up NT$107.8m from FY 2020). Profit margin: 3.7% (up from net loss in FY 2020). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 67% per year but the company’s share price has only increased by 40% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 15
Third quarter 2021 earnings released: EPS NT$0.11 (vs NT$0.21 loss in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$240.8m (up 16% from 3Q 2020). Net income: NT$16.8m (up NT$50.0m from 3Q 2020). Profit margin: 7.0% (up from net loss in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 48% per year whereas the company’s share price has increased by 46% per year. Reported Earnings • Aug 18
Second quarter 2021 earnings released: EPS NT$0.02 (vs NT$0.033 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$239.8m (up 25% from 2Q 2020). Net income: NT$2.71m (down 49% from 2Q 2020). Profit margin: 1.1% (down from 2.7% in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has increased by 33% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • May 17
First quarter 2021 earnings released: EPS NT$0.07 (vs NT$0.42 loss in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$233.1m (up 35% from 1Q 2020). Net income: NT$10.9m (up NT$77.5m from 1Q 2020). Profit margin: 4.7% (up from net loss in 1Q 2020). Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has increased by 25% per year, which means it is well ahead of earnings. Reported Earnings • Apr 01
Full year 2020 earnings released: NT$0.47 loss per share (vs NT$0.90 loss in FY 2019) The company reported a decent full year result with reduced losses and improved control over expenses, although revenues were weaker. Full year 2020 results: Revenue: NT$810.9m (down 18% from FY 2019). Net loss: NT$74.4m (loss narrowed 48% from FY 2019). Over the last 3 years on average, earnings per share has fallen by 39% per year but the company’s share price has increased by 43% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Feb 26
New 90-day high: NT$9.48 The company is up 37% from its price of NT$6.90 on 27 November 2020. The Taiwanese market is up 18% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Semiconductor industry, which is up 30% over the same period. Is New 90 Day High Low • Dec 25
New 90-day high: NT$8.59 The company is up 50% from its price of NT$5.74 on 25 September 2020. The Taiwanese market is up 16% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Semiconductor industry, which is up 24% over the same period. Is New 90 Day High Low • Dec 05
New 90-day high: NT$7.56 The company is up 58% from its price of NT$4.79 on 04 September 2020. The Taiwanese market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Semiconductor industry, which is up 20% over the same period. Reported Earnings • Nov 14
Third quarter 2020 earnings released: NT$0.21 loss per share The company reported a decent third quarter result with reduced losses and improved control over expenses, although revenues were weaker. Third quarter 2020 results: Revenue: NT$207.4m (down 8.9% from 3Q 2019). Net loss: NT$33.2m (loss narrowed 43% from 3Q 2019). Over the last 3 years on average, earnings per share has fallen by 53% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Oct 24
New 90-day high: NT$6.33 The company is up 53% from its price of NT$4.15 on 24 July 2020. The Taiwanese market is up 4.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Semiconductor industry, which is up 13% over the same period. Is New 90 Day High Low • Sep 21
New 90-day high: NT$5.29 The company is up 21% from its price of NT$4.37 on 23 June 2020. The Taiwanese market is up 11% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Semiconductor industry, which is up 30% over the same period.