Upcoming Dividend • Jun 25
Upcoming dividend of NT$9.70 per share Eligible shareholders must have bought the stock before 02 July 2026. Payment date: 31 July 2026. Payout ratio is a comfortable 70% and this is well supported by cash flows. Trailing yield: 5.5%. Within top quartile of Taiwanese dividend payers (4.9%). Higher than average of industry peers (2.8%). Reported Earnings • May 20
First quarter 2026 earnings released: EPS: NT$4.12 (vs NT$4.29 in 1Q 2025) First quarter 2026 results: EPS: NT$4.12 (down from NT$4.29 in 1Q 2025). Revenue: NT$682.4m (down 8.2% from 1Q 2025). Net income: NT$70.5m (down 3.9% from 1Q 2025). Profit margin: 10% (in line with 1Q 2025). Over the last 3 years on average, earnings per share has increased by 9% per year whereas the company’s share price has increased by 6% per year. Declared Dividend • May 13
Dividend increased to NT$9.70 Dividend of NT$9.70 is 7.8% higher than last year. Ex-date: 2nd July 2026 Payment date: 31st July 2026 Dividend yield will be 5.6%, which is higher than the industry average of 2.5%. Sustainability & Growth Dividend is covered by both earnings (70% earnings payout ratio) and cash flows (77% cash payout ratio). The dividend has increased by an average of 9.3% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 12% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Buy Or Sell Opportunity • Apr 13
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 3.9% to NT$161. The fair value is estimated to be NT$203, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years. Earnings per share has grown by 10%. Reported Earnings • Mar 13
Full year 2025 earnings released: EPS: NT$13.95 (vs NT$12.98 in FY 2024) Full year 2025 results: EPS: NT$13.95 (up from NT$12.98 in FY 2024). Revenue: NT$2.43b (up 16% from FY 2024). Net income: NT$238.5m (up 7.5% from FY 2024). Profit margin: 9.8% (in line with FY 2024). Over the last 3 years on average, earnings per share has increased by 10% per year whereas the company’s share price has increased by 15% per year. Announcement • Feb 25
Otsuka Information Technology Corp., Annual General Meeting, May 22, 2026 Otsuka Information Technology Corp., Annual General Meeting, May 22, 2026. Location: 26 floor no,68, hsien min ta ta, banciao district, new taipei city Taiwan Reported Earnings • Nov 15
Third quarter 2025 earnings released: EPS: NT$3.31 (vs NT$3.22 in 3Q 2024) Third quarter 2025 results: EPS: NT$3.31 (up from NT$3.22 in 3Q 2024). Revenue: NT$574.8m (up 20% from 3Q 2024). Net income: NT$56.6m (up 2.7% from 3Q 2024). Profit margin: 9.8% (down from 12% in 3Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 23% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Nov 11
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: NT$2.97b (US$95.9m) 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 Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (NT$2.97b market cap, or US$95.9m). Reported Earnings • Aug 17
Second quarter 2025 earnings released: EPS: NT$3.41 (vs NT$3.14 in 2Q 2024) Second quarter 2025 results: EPS: NT$3.41 (up from NT$3.14 in 2Q 2024). Revenue: NT$611.7m (up 12% from 2Q 2024). Net income: NT$58.3m (up 8.5% from 2Q 2024). Profit margin: 9.5% (in line with 2Q 2024). Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 33% per year, which means it is tracking significantly ahead of earnings growth. Buy Or Sell Opportunity • Jul 29
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 15% to NT$192. The fair value is estimated to be NT$244, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 11%. New Risk • Jul 11
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 8.1% 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 Risk Share price has been highly volatile over the past 3 months (8.1% average weekly change). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Buy Or Sell Opportunity • Jul 10
Now 20% undervalued Over the last 90 days, the stock has risen 11% to NT$195. The fair value is estimated to be NT$245, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 11%. Upcoming Dividend • Jun 26
Upcoming dividend of NT$9.00 per share Eligible shareholders must have bought the stock before 03 July 2025. Payment date: 31 July 2025. Payout ratio is a comfortable 63% and this is well supported by cash flows. Trailing yield: 4.3%. Lower than top quartile of Taiwanese dividend payers (5.3%). Higher than average of industry peers (2.9%). Announcement • May 24
Otsuka Information Technology Corp. Approves Board Appointments Otsuka Information Technology Corp. at its shareholders' meeting held on May 23, 2025, approved the appointment of Guo, Yi Long and Hsu, Hui-Ru as Directors; Lou, Yung-I as Independent Director. Reported Earnings • May 15
First quarter 2025 earnings released: EPS: NT$4.29 (vs NT$3.06 in 1Q 2024) First quarter 2025 results: EPS: NT$4.29 (up from NT$3.06 in 1Q 2024). Revenue: NT$743.4m (up 61% from 1Q 2024). Net income: NT$73.4m (up 40% from 1Q 2024). Profit margin: 9.9% (down from 11% in 1Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 40% per year, which means it is tracking significantly ahead of earnings growth. Declared Dividend • May 14
Dividend increased to NT$9.00 Dividend of NT$9.00 is 13% higher than last year. Ex-date: 3rd July 2025 Payment date: 31st July 2025 Dividend yield will be 3.8%, which is higher than the industry average of 2.5%. Sustainability & Growth Dividend is covered by both earnings (69% earnings payout ratio) and cash flows (71% cash payout ratio). The dividend has increased by an average of 8.4% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 9.2% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. New Risk • May 12
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 9.1% 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: 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 (9.1% average weekly change). Announcement • May 03
Otsuka Information Technology Corp. to Report Q1, 2025 Results on May 12, 2025 Otsuka Information Technology Corp. announced that they will report Q1, 2025 results on May 12, 2025 Buy Or Sell Opportunity • May 02
Now 21% overvalued The stock has been flat over the last 90 days, currently trading at NT$239. The fair value is estimated to be NT$198, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 11%. Valuation Update With 7 Day Price Move • Apr 30
Investor sentiment improves as stock rises 25% After last week's 25% share price gain to NT$227, the stock trades at a trailing P/E ratio of 17.5x. Average trailing P/E is 27x in the Software industry in Taiwan. Total returns to shareholders of 207% over the past three years. Valuation Update With 7 Day Price Move • Apr 15
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$182, the stock trades at a trailing P/E ratio of 14x. Average trailing P/E is 20x in the Software industry in Taiwan. Total returns to shareholders of 147% over the past three years. New Risk • Apr 07
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. 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 (6.3% average weekly change). Market cap is less than US$100m (NT$2.67b market cap, or US$80.7m). Buy Or Sell Opportunity • Apr 07
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 8.5% to NT$156. The fair value is estimated to be NT$201, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 11%. Reported Earnings • Mar 19
Full year 2024 earnings released: EPS: NT$12.98 (vs NT$11.62 in FY 2023) Full year 2024 results: EPS: NT$12.98 (up from NT$11.62 in FY 2023). Revenue: NT$2.10b (up 24% from FY 2023). Net income: NT$221.9m (up 12% from FY 2023). Profit margin: 11% (down from 12% in FY 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 28% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Feb 18
Otsuka Information Technology Corp. to Report Fiscal Year 2024 Results on Feb 26, 2025 Otsuka Information Technology Corp. announced that they will report fiscal year 2024 results on Feb 26, 2025 Reported Earnings • Nov 19
Third quarter 2024 earnings released: EPS: NT$3.22 (vs NT$3.08 in 3Q 2023) Third quarter 2024 results: EPS: NT$3.22 (up from NT$3.08 in 3Q 2023). Revenue: NT$478.9m (up 15% from 3Q 2023). Net income: NT$55.1m (up 4.7% from 3Q 2023). Profit margin: 12% (down from 13% in 3Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has increased by 29% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Nov 12
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$169, the stock trades at a trailing P/E ratio of 14x. Average trailing P/E is 23x in the Software industry in Taiwan. Total returns to shareholders of 153% over the past three years. Announcement • Nov 02
Otsuka Information Technology Corp. to Report Q3, 2024 Results on Nov 11, 2024 Otsuka Information Technology Corp. announced that they will report Q3, 2024 results on Nov 11, 2024 New Risk • Aug 17
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 42% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (42% accrual ratio). Minor Risks Dividend is not well covered by cash flows (143% cash payout ratio). Market cap is less than US$100m (NT$2.66b market cap, or US$82.5m). Reported Earnings • Aug 17
Second quarter 2024 earnings released: EPS: NT$3.14 (vs NT$3.02 in 2Q 2023) Second quarter 2024 results: EPS: NT$3.14 (up from NT$3.02 in 2Q 2023). Revenue: NT$547.3m (up 32% from 2Q 2023). Net income: NT$53.7m (up 4.0% from 2Q 2023). Profit margin: 9.8% (down from 13% in 2Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has increased by 31% per year, which means it is tracking significantly ahead of earnings growth. Buy Or Sell Opportunity • Aug 01
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 9.6% to NT$172. The fair value is estimated to be NT$141, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has grown by 18%. Announcement • Jul 25
Otsuka Information Technology Corp. to Report Q2, 2024 Results on Aug 05, 2024 Otsuka Information Technology Corp. announced that they will report Q2, 2024 results on Aug 05, 2024 Reported Earnings • May 19
First quarter 2024 earnings released: EPS: NT$3.06 (vs NT$2.78 in 1Q 2023) First quarter 2024 results: EPS: NT$3.06 (up from NT$2.78 in 1Q 2023). Revenue: NT$461.5m (up 2.1% from 1Q 2023). Net income: NT$52.3m (up 9.9% from 1Q 2023). Profit margin: 11% (in line with 1Q 2023). 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 30% per year, which means it is tracking significantly ahead of earnings growth. Declared Dividend • May 08
Dividend increased to NT$8.00 Dividend of NT$8.00 is 6.7% higher than last year. Ex-date: 4th July 2024 Payment date: 31st July 2024 Dividend yield will be 4.9%, which is higher than the industry average of 2.5%. Sustainability & Growth Dividend is covered by both earnings (69% earnings payout ratio) and cash flows (62% cash payout ratio). The dividend has increased by an average of 10% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 22% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Apr 28
Otsuka Information Technology Corp. to Report Q1, 2024 Results on May 06, 2024 Otsuka Information Technology Corp. announced that they will report Q1, 2024 results on May 06, 2024 Reported Earnings • Mar 20
Full year 2023 earnings released: EPS: NT$11.62 (vs NT$10.65 in FY 2022) Full year 2023 results: EPS: NT$11.62 (up from NT$10.65 in FY 2022). Revenue: NT$1.69b (up 8.7% from FY 2022). Net income: NT$198.7m (up 9.1% from FY 2022). Profit margin: 12% (in line with FY 2022). 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 26% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Mar 12
Otsuka Information Technology Corp., Annual General Meeting, Jun 21, 2024 Otsuka Information Technology Corp., Annual General Meeting, Jun 21, 2024. Location: 26th Floor, No. 68, Section 2, Xianmin Avenue, Banqiao District,New Taipei City New Tapei City Taiwan Agenda: To approve 2023 business report; to approve Audit Committee's review of the 2023 annual final accounting books and statements; to approve Report on 2023 employees' and directors' remuneration; and to Report on 2023 distribution of cash dividends. Announcement • Mar 01
Otsuka Information Technology Corp. Announces Change of Accounting Officer Otsuka Information Technology Corp. announced the resignation of Kai Li, Fu, Manager of the Accounting Department, as accounting officer and the appointment of Chih-Ming, Lin, General Administration Division Director, as accounting officer, effective from February 29, 2024. Valuation Update With 7 Day Price Move • Nov 30
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to NT$172, the stock trades at a trailing P/E ratio of 14.4x. Average trailing P/E is 32x in the Software industry in Taiwan. Total returns to shareholders of 157% over the past three years. Reported Earnings • Nov 15
Third quarter 2023 earnings released: EPS: NT$3.08 (vs NT$2.50 in 3Q 2022) Third quarter 2023 results: EPS: NT$3.08 (up from NT$2.50 in 3Q 2022). Revenue: NT$415.8m (up 4.1% from 3Q 2022). Net income: NT$52.6m (up 23% from 3Q 2022). Profit margin: 13% (up from 11% in 3Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 17% per year whereas the company’s share price has increased by 21% per year. Reported Earnings • Aug 13
Second quarter 2023 earnings released: EPS: NT$3.02 (vs NT$2.79 in 2Q 2022) Second quarter 2023 results: EPS: NT$3.02 (up from NT$2.79 in 2Q 2022). Revenue: NT$413.4m (up 1.6% from 2Q 2022). Net income: NT$51.7m (up 8.5% from 2Q 2022). Profit margin: 13% (in line with 2Q 2022). Over the last 3 years on average, earnings per share has increased by 14% per year whereas the company’s share price has increased by 12% per year. Upcoming Dividend • Jun 24
Upcoming dividend of NT$7.50 per share at 5.4% yield Eligible shareholders must have bought the stock before 30 June 2023. Payment date: 31 July 2023. Payout ratio is a comfortable 68% and this is well supported by cash flows. Trailing yield: 5.4%. Lower than top quartile of Taiwanese dividend payers (5.5%). Higher than average of industry peers (2.5%). Valuation Update With 7 Day Price Move • May 15
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to NT$140, the stock trades at a trailing P/E ratio of 13.1x. Average trailing P/E is 21x in the Software industry in Taiwan. Total returns to shareholders of 80% over the past three years. Valuation Update With 7 Day Price Move • Apr 28
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$166, the stock trades at a trailing P/E ratio of 15.5x. Average trailing P/E is 22x in the Software industry in Taiwan. Total returns to shareholders of 113% over the past three years. Valuation Update With 7 Day Price Move • Apr 11
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to NT$138, the stock trades at a trailing P/E ratio of 13x. Average trailing P/E is 18x in the Software industry in Taiwan. Total returns to shareholders of 81% over the past three years. Valuation Update With 7 Day Price Move • Mar 16
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$119, the stock trades at a trailing P/E ratio of 11.6x. Average trailing P/E is 18x in the Software industry in Taiwan. Total returns to shareholders of 115% over the past three years. Reported Earnings • Nov 16
Third quarter 2022 earnings released: EPS: NT$2.50 (vs NT$2.54 in 3Q 2021) Third quarter 2022 results: EPS: NT$2.50 (down from NT$2.54 in 3Q 2021). Revenue: NT$399.3m (up 19% from 3Q 2021). Net income: NT$42.7m (down 1.6% from 3Q 2021). Profit margin: 11% (down from 13% in 3Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. 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. 7 non-independent directors. Independent Director Kun-Feng Hsieh 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$2.50 (vs NT$2.54 in 3Q 2021) Third quarter 2022 results: EPS: NT$2.50 (down from NT$2.54 in 3Q 2021). Revenue: NT$399.3m (up 19% from 3Q 2021). Net income: NT$42.7m (down 1.6% from 3Q 2021). Profit margin: 11% (down from 13% in 3Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 16
Second quarter 2022 earnings released: EPS: NT$2.78 (vs NT$1.83 in 2Q 2021) Second quarter 2022 results: EPS: NT$2.78 (up from NT$1.83 in 2Q 2021). Revenue: NT$406.8m (up 29% from 2Q 2021). Net income: NT$47.6m (up 52% from 2Q 2021). Profit margin: 12% (up from 9.9% 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 6% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Upcoming Dividend • Jun 23
Upcoming dividend of NT$6.00 per share Eligible shareholders must have bought the stock before 30 June 2022. Payment date: 29 July 2022. Payout ratio is a comfortable 65% but the company is paying out more than the cash it is generating. Trailing yield: 6.7%. Within top quartile of Taiwanese dividend payers (6.4%). Higher than average of industry peers (3.0%). Reported Earnings • May 16
First quarter 2022 earnings released: EPS: NT$2.34 (vs NT$1.55 in 1Q 2021) First quarter 2022 results: EPS: NT$2.34 (up from NT$1.55 in 1Q 2021). Revenue: NT$332.6m (up 9.6% from 1Q 2021). Net income: NT$39.9m (up 51% from 1Q 2021). Profit margin: 12% (up from 8.7% 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 6% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Announcement • May 12
Otsuka Information Technology Corp. Announces Cash Dividend, Payable on July 1, 2022 Otsuka Information Technology Corp. announced cash dividend of TWD 6.0 per share of common stock, payable on July 1, 2022. Ex-rights (Ex-dividend) date is June 30, 2022 with Ex-rights (Ex-dividend) record date as July 7, 2022. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 7 non-independent directors. Independent Director Jun-De Yan was the last independent director to join the board, commencing their role in 2016. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Apr 03
Full year 2021 earnings released: EPS: NT$8.50 (vs NT$8.00 in FY 2020) Full year 2021 results: EPS: NT$8.50 (up from NT$8.00 in FY 2020). Revenue: NT$1.30b (up 15% from FY 2020). Net income: NT$145.4m (up 6.3% from FY 2020). Profit margin: 11% (in line with FY 2020). Over the last 3 years on average, earnings per share has increased by 9% per year whereas the company’s share price has increased by 10% per year. Reported Earnings • Nov 15
Third quarter 2021 earnings released: EPS NT$2.53 (vs NT$1.53 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$337.1m (up 29% from 3Q 2020). Net income: NT$43.3m (up 66% from 3Q 2020). Profit margin: 13% (up from 10.0% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 15% per year whereas the company’s share price has increased by 19% per year. Reported Earnings • Aug 18
Second quarter 2021 earnings released: EPS NT$1.83 (vs NT$2.11 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$314.9m (up 7.8% from 2Q 2020). Net income: NT$31.3m (down 13% from 2Q 2020). Profit margin: 9.9% (down from 12% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jun 24
Upcoming dividend of NT$5.20 per share Eligible shareholders must have bought the stock before 30 June 2021. Payment date: 30 July 2021. Trailing yield: 6.5%. Within top quartile of Taiwanese dividend payers (5.0%). Higher than average of industry peers (3.4%). Reported Earnings • May 17
First quarter 2021 earnings released: EPS NT$1.55 (vs NT$2.36 in 1Q 2020) The company reported a poor first quarter result with weaker earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$303.5m (down 1.1% from 1Q 2020). Net income: NT$26.4m (down 35% from 1Q 2020). Profit margin: 8.7% (down from 13% in 1Q 2020). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Reported Earnings • Mar 30
Full year 2020 earnings released: EPS NT$8.00 (vs NT$8.37 in FY 2019) The company reported a poor full year result with weaker earnings and revenues, although profit margins were flat. Full year 2020 results: Revenue: NT$1.13b (down 6.3% from FY 2019). Net income: NT$136.8m (down 4.4% from FY 2019). Profit margin: 12% (in line with FY 2019). Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. Is New 90 Day High Low • Feb 23
New 90-day high: NT$84.50 The company is up 6.0% from its price of NT$79.90 on 25 November 2020. The Taiwanese market is up 18% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Software industry, which is up 2.0% over the same period. Reported Earnings • Nov 15
Third quarter 2020 earnings released: EPS NT$1.52 The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2020 results: Revenue: NT$260.8m (down 7.8% from 3Q 2019). Net income: NT$26.1m (down 22% from 3Q 2019). Profit margin: 10.0% (down from 12% in 3Q 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 53% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth.