Valuation Update With 7 Day Price Move • Jul 07
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to NT$262, the stock trades at a forward P/E ratio of 23x. Average forward P/E is 22x in the Electronic industry in Taiwan. Total returns to shareholders of 156% over the past three years. Upcoming Dividend • Jun 22
Upcoming dividend of NT$5.08 per share Eligible shareholders must have bought the stock before 29 June 2026. Payment date: 21 July 2026. Payout ratio is a comfortable 49% but the company is paying out more than the cash it is generating. Trailing yield: 1.5%. Lower than top quartile of Taiwanese dividend payers (4.8%). Higher than average of industry peers (1.2%). Valuation Update With 7 Day Price Move • Jun 18
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to NT$348, the stock trades at a forward P/E ratio of 30x. Average forward P/E is 24x in the Electronic industry in Taiwan. Total returns to shareholders of 277% over the past three years. Valuation Update With 7 Day Price Move • May 14
Investor sentiment improves as stock rises 31% After last week's 31% share price gain to NT$232, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 21x in the Electronic industry in Taiwan. Total returns to shareholders of 156% over the past three years. Reported Earnings • May 08
First quarter 2026 earnings released: EPS: NT$2.00 (vs NT$2.20 in 1Q 2025) First quarter 2026 results: EPS: NT$2.00. Revenue: NT$1.74b (up 11% from 1Q 2025). Net income: NT$286.2m (up 27% from 1Q 2025). Profit margin: 17% (up from 14% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 23% growth forecast for the Electronic industry in Taiwan. Valuation Update With 7 Day Price Move • Apr 14
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$165, the stock trades at a trailing P/E ratio of 15.9x. Average trailing P/E is 28x in the Electronic industry in Taiwan. Total returns to shareholders of 73% over the past three years. Reported Earnings • Mar 14
Full year 2025 earnings released: EPS: NT$10.26 (vs NT$7.33 in FY 2024) Full year 2025 results: EPS: NT$10.26 (up from NT$7.33 in FY 2024). Revenue: NT$6.62b (up 20% from FY 2024). Net income: NT$1.06b (up 41% from FY 2024). Profit margin: 16% (up from 14% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 13% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Mar 12
TAI-TECH Advanced Electronics Co., Ltd., Annual General Meeting, May 29, 2026 TAI-TECH Advanced Electronics Co., Ltd., Annual General Meeting, May 29, 2026, at 09:00 Taipei Standard Time. Location: 1 floor no,5, you szu rd., yangmei district, taoyuan city Taiwan Valuation Update With 7 Day Price Move • Feb 26
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to NT$184, the stock trades at a trailing P/E ratio of 18x. Average trailing P/E is 24x in the Electronic industry in Taiwan. Total returns to shareholders of 88% over the past three years. Valuation Update With 7 Day Price Move • Jan 06
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to NT$168, the stock trades at a trailing P/E ratio of 16.4x. Average trailing P/E is 23x in the Electronic industry in Taiwan. Total returns to shareholders of 133% over the past three years. New Risk • Nov 29
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 22% 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: Major Risk Earnings have declined by 4.9% per year over the past 5 years. Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (7.2% average weekly change). Large one-off items impacting financial results. Reported Earnings • Nov 11
Third quarter 2025 earnings released: EPS: NT$2.53 (vs NT$1.59 in 3Q 2024) Third quarter 2025 results: EPS: NT$2.53 (up from NT$1.59 in 3Q 2024). Revenue: NT$1.65b (up 12% from 3Q 2024). Net income: NT$258.0m (up 59% from 3Q 2024). Profit margin: 16% (up from 11% in 3Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 24% per year, which means it is well ahead of earnings. New Risk • Nov 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 6.7% 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: Major Risk Earnings have declined by 4.8% per year over the past 5 years. Minor Risks Dividend is not well covered by cash flows (dividend per share is over 12x cash flows per share). Share price has been volatile over the past 3 months (6.7% average weekly change). Valuation Update With 7 Day Price Move • Oct 21
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to NT$161, the stock trades at a trailing P/E ratio of 17.3x. Average forward P/E is 17x in the Electronic industry in Taiwan. Total returns to shareholders of 158% over the past three years. Reported Earnings • Aug 13
Second quarter 2025 earnings: EPS and revenues exceed analyst expectations Second quarter 2025 results: EPS: NT$3.11 (up from NT$1.95 in 2Q 2024). Revenue: NT$1.61b (up 18% from 2Q 2024). Net income: NT$317.4m (up 60% from 2Q 2024). Profit margin: 20% (up from 14% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 4.0%. Earnings per share (EPS) also surpassed analyst estimates by 47%. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Reported Earnings • May 14
First quarter 2025 earnings: EPS and revenues exceed analyst expectations First quarter 2025 results: EPS: NT$2.20 (up from NT$1.42 in 1Q 2024). Revenue: NT$1.56b (up 33% from 1Q 2024). Net income: NT$224.9m (up 55% from 1Q 2024). Profit margin: 14% (up from 12% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 9.7%. Earnings per share (EPS) also surpassed analyst estimates by 27%. Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Announcement • May 01
TAI-TECH Advanced Electronics Co., Ltd. to Report Q1, 2025 Results on May 08, 2025 TAI-TECH Advanced Electronics Co., Ltd. announced that they will report Q1, 2025 results on May 08, 2025 Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to NT$90.00, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 13x in the Electronic industry in Taiwan. Total loss to shareholders of 2.1% over the past three years. Upcoming Dividend • Mar 14
Upcoming dividend of NT$5.00 per share Eligible shareholders must have bought the stock before 21 March 2025. Payment date: 28 April 2025. Payout ratio is a comfortable 68% but the company is not cash flow positive. Trailing yield: 4.1%. Lower than top quartile of Taiwanese dividend payers (4.5%). Higher than average of industry peers (2.9%). New Risk • Mar 11
New major risk - Revenue and earnings growth Earnings have declined by 0.8% 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 Risk Earnings have declined by 0.8% per year over the past 5 years. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Price Target Changed • Feb 26
Price target increased by 7.9% to NT$137 Up from NT$127, the current price target is an average from 2 analysts. New target price is 9.2% above last closing price of NT$126. Stock is up 8.7% over the past year. The company is forecast to post earnings per share of NT$6.37 for next year compared to NT$5.82 last year. Declared Dividend • Feb 26
Dividend increased to NT$5.00 Dividend of NT$5.00 is 11% higher than last year. Ex-date: 21st March 2025 Payment date: 28th April 2025 Dividend yield will be 4.0%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by earnings (74% earnings payout ratio) but not covered by cash flows (133% cash payout ratio). The dividend has increased by an average of 16% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 20% over the next year, which should provide support to the dividend and adequate earnings cover. Announcement • Feb 25
TAI-TECH Advanced Electronics Co., Ltd. Announces Cash Dividend, Payable on April 28, 2025 TAI-TECH Advanced Electronics Co., Ltd. has announced the establishment of the ex-dividend record date for cash dividends. The board of directors resolved on February 24, 2025, to distribute a cash dividend to common shareholders amounting to TWD 510,174,405, with a distribution ratio of TWD 5 per share. The ex-dividend date is set for March 21, 2025, with the record date on March 29, 2025. The payment date for the cash dividend distribution is scheduled for April 28, 2025. If adjustments to the shareholder dividend rate are required later due to changes in the company's outstanding shares, the chairman of the board is authorized to make necessary adjustments and handle relevant matters with full authority. Announcement • Feb 15
TAI-TECH Advanced Electronics Co., Ltd. to Report Q4, 2024 Results on Feb 24, 2025 TAI-TECH Advanced Electronics Co., Ltd. announced that they will report Q4, 2024 results at 9:00 AM, Taipei Standard Time on Feb 24, 2025 Reported Earnings • Nov 14
Third quarter 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2024 results: EPS: NT$1.59 (up from NT$1.25 in 3Q 2023). Revenue: NT$1.47b (up 38% from 3Q 2023). Net income: NT$162.6m (up 27% from 3Q 2023). Profit margin: 11% (in line with 3Q 2023). Revenue exceeded analyst estimates by 2.0%. Earnings per share (EPS) missed analyst estimates by 7.5%. Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 14% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. Announcement • Oct 30
TAI-TECH Advanced Electronics Co., Ltd. to Report Q3, 2024 Results on Nov 06, 2024 TAI-TECH Advanced Electronics Co., Ltd. announced that they will report Q3, 2024 results on Nov 06, 2024 Announcement • Oct 02
TAI-TECH Advanced Electronics Co., Ltd. (TPEX:3357) agreed to acquire 13.50% stake in Superworld Holdings (S) Pte Ltd. for $8.2 million. TAI-TECH Advanced Electronics Co., Ltd. (TPEX:3357) agreed to acquire 13.50% stake in Superworld Holdings (S) Pte Ltd. for $8.2 million on October 1, 2024. A cash consideration valued at $3.02 per share will be paid by TAI-TECH Advanced Electronics Co., Ltd. The transaction is subject to approval of offer by acquirer board. The deal has been approved by the board. Crowe Horwath International, Taipei Office and Accountant Ng Mang Tat acted as accountant for TAI-TECH Advanced Electronics Co., Ltd. Reported Earnings • Aug 20
Second quarter 2024 earnings: EPS and revenues exceed analyst expectations Second quarter 2024 results: EPS: NT$1.95 (up from NT$1.66 in 2Q 2023). Revenue: NT$1.37b (up 25% from 2Q 2023). Net income: NT$198.8m (up 17% from 2Q 2023). Profit margin: 14% (down from 16% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 10%. Earnings per share (EPS) also surpassed analyst estimates by 16%. Revenue is forecast to grow 5.6% p.a. on average during the next 2 years, compared to a 14% growth forecast for the Electronic industry in Taiwan. 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 2% per year, which means it has not declined as severely as earnings. Announcement • Jul 20
TAI-TECH Advanced Electronics Co., Ltd. to Report Q2, 2024 Results on Jul 29, 2024 TAI-TECH Advanced Electronics Co., Ltd. announced that they will report Q2, 2024 results on Jul 29, 2024 Reported Earnings • May 12
First quarter 2024 earnings: EPS misses analyst expectations First quarter 2024 results: EPS: NT$1.42 (down from NT$1.74 in 1Q 2023). Revenue: NT$1.17b (flat on 1Q 2023). Net income: NT$144.7m (down 19% from 1Q 2023). Profit margin: 12% (down from 15% in 1Q 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 2.6%. Revenue is forecast to grow 8.6% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Announcement • Apr 28
TAI-TECH Advanced Electronics Co., Ltd. to Report Q1, 2024 Results on May 06, 2024 TAI-TECH Advanced Electronics Co., Ltd. announced that they will report Q1, 2024 results on May 06, 2024 Major Estimate Revision • Apr 23
Consensus EPS estimates fall by 20% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from NT$5.24b to NT$4.96b. EPS estimate also fell from NT$8.09 per share to NT$6.45 per share. Net income forecast to grow 11% next year vs 31% growth forecast for Electronic industry in Taiwan. Consensus price target of NT$125 unchanged from last update. Share price fell 6.7% to NT$105 over the past week. Upcoming Dividend • Mar 22
Upcoming dividend of NT$4.50 per share Eligible shareholders must have bought the stock before 29 March 2024. Payment date: 03 May 2024. Payout ratio is on the higher end at 77%, however this is supported by cash flows. Trailing yield: 3.8%. Lower than top quartile of Taiwanese dividend payers (4.7%). Higher than average of industry peers (3.1%). Reported Earnings • Mar 03
Full year 2023 earnings: EPS exceeds analyst expectations Full year 2023 results: EPS: NT$5.82 (down from NT$10.11 in FY 2022). Revenue: NT$4.43b (down 16% from FY 2022). Net income: NT$593.4m (down 43% from FY 2022). Profit margin: 13% (down from 20% in FY 2022). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 5.6%. Revenue is forecast to grow 14% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Announcement • Feb 29
TAI-TECH Advanced Electronics Co., Ltd. Proposes Dividend for the Year 2023, Payable on May 3, 2024 TAI-TECH Advanced Electronics Co., Ltd. proposed a cash dividend to common shareholders TWD 459,153,000 distribution ratio TWD 4.5 per share. The ex-dividend date is on March 29, 2024. The payment date of the cash dividend distribution is on May 3, 2024. Ex-rights (Ex-dividend) record date: is on April 6, 2024. Announcement • Feb 27
TAI-TECH Advanced Electronics Co., Ltd., Annual General Meeting, May 31, 2024 TAI-TECH Advanced Electronics Co., Ltd., Annual General Meeting, May 31, 2024. Location: No.3, Qingnian Rd., Yangmei Dist., Taoyuan City Taiwan Agenda: To consider Annual business report 2023; to consider the Audit Committee's final accounts report in 2023; to consider distribution report of compensation of the employees and directors for Year 2023; to consider Shareholder dividend distribution report in 2023; to consider Report on the implementation of fund raising and corporate bond issuance in 2023; to consider Revisions of rules of procedures for Directors; to consider Ratification of 2023 Audited Financial statements; and to release the Directors from non-competition restrictions. Price Target Changed • Dec 27
Price target increased by 10.0% to NT$125 Up from NT$114, the current price target is an average from 3 analysts. New target price is 6.8% above last closing price of NT$117. Stock is up 46% over the past year. The company is forecast to post earnings per share of NT$5.51 for next year compared to NT$10.11 last year. New Risk • Nov 14
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: 13% Last year net profit margin: 21% 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: Minor Risks Dividend is not well covered by earnings (100% payout ratio). Profit margins are more than 30% lower than last year (13% net profit margin). Reported Earnings • Nov 14
Third quarter 2023 earnings: EPS in line with expectations, revenues disappoint Third quarter 2023 results: EPS: NT$1.25 (down from NT$2.39 in 3Q 2022). Revenue: NT$1.06b (down 11% from 3Q 2022). Net income: NT$127.9m (down 48% from 3Q 2022). Profit margin: 12% (down from 21% in 3Q 2022). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 1.6%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 9.2% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Major Estimate Revision • Sep 04
Consensus revenue estimates decrease by 10% The consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast fell from NT$5.03b to NT$4.52b. EPS estimate unchanged from NT$6.17 per share at last update. Electronic industry in Taiwan expected to see average net income growth of 4.6% next year. Consensus price target broadly unchanged at NT$115. Share price rose 8.5% to NT$109 over the past week. Reported Earnings • Aug 10
Second quarter 2023 earnings: EPS exceeds analyst expectations while revenues lag behind Second quarter 2023 results: EPS: NT$1.66 (down from NT$3.43 in 2Q 2022). Revenue: NT$1.09b (down 21% from 2Q 2022). Net income: NT$169.6m (down 52% from 2Q 2022). Profit margin: 16% (down from 25% in 2Q 2022). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 5.2%. Earnings per share (EPS) exceeded analyst estimates by 16%. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 8.1% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has increased by 14% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Jul 07
First quarter 2023 earnings: EPS exceeds analyst expectations First quarter 2023 results: EPS: NT$1.74 (down from NT$2.97 in 1Q 2022). Revenue: NT$1.18b (down 20% from 1Q 2022). Net income: NT$177.6m (down 42% from 1Q 2022). Profit margin: 15% (down from 21% in 1Q 2022). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 20%. Revenue is forecast to grow 9.3% p.a. on average during the next 3 years, compared to a 7.1% growth forecast for the Electronic industry in Taiwan. 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 24% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Jul 05
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to NT$119, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 16x in the Electronic industry in Taiwan. Total returns to shareholders of 128% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$226 per share. Major Estimate Revision • Jun 16
Consensus revenue estimates fall by 13% The consensus outlook for revenues in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from NT$5.47b to NT$4.76b. EPS estimate fell from NT$9.10 to NT$6.72 per share. Net income forecast to shrink 16% next year vs 7.7% decline forecast for Electronic industry in Taiwan. Consensus price target down from NT$119 to NT$111. Share price was steady at NT$105 over the past week. Upcoming Dividend • Jun 13
Upcoming dividend of NT$6.00 per share at 5.7% yield Eligible shareholders must have bought the stock before 20 June 2023. Payment date: 14 July 2023. Payout ratio is a comfortable 68% and this is well supported by cash flows. Trailing yield: 5.7%. Within top quartile of Taiwanese dividend payers (5.5%). Higher than average of industry peers (4.3%). Reported Earnings • Mar 04
Full year 2022 earnings released: EPS: NT$10.11 (vs NT$12.08 in FY 2021) Full year 2022 results: EPS: NT$10.11 (down from NT$12.08 in FY 2021). Revenue: NT$5.29b (down 14% from FY 2021). Net income: NT$1.04b (down 13% from FY 2021). Profit margin: 20% (in line with FY 2021). Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has increased by 46% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Feb 22
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$115, the stock trades at a trailing P/E ratio of 10x. Average trailing P/E is 12x in the Electronic industry in Taiwan. Total returns to shareholders of 275% over the past three years. 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. 6 non-independent directors. Independent Director Yang-Pin Shen 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 11
Third quarter 2022 earnings released: EPS: NT$2.39 (vs NT$3.39 in 3Q 2021) Third quarter 2022 results: EPS: NT$2.39 (down from NT$3.39 in 3Q 2021). Revenue: NT$1.19b (down 30% from 3Q 2021). Net income: NT$245.4m (down 30% from 3Q 2021). Profit margin: 21% (in line with 3Q 2021). Over the last 3 years on average, earnings per share has increased by 32% per year whereas the company’s share price has increased by 36% per year. Reported Earnings • Aug 06
Second quarter 2022 earnings released: EPS: NT$3.43 (vs NT$3.48 in 2Q 2021) Second quarter 2022 results: EPS: NT$3.43. Revenue: NT$1.39b (down 12% from 2Q 2021). Net income: NT$353.3m (up 2.5% from 2Q 2021). Profit margin: 25% (up from 22% in 2Q 2021). The increase in margin was driven by lower expenses. Over the next year, revenue is forecast to grow 12%, compared to a 8.6% growth forecast for the industry in Taiwan. Valuation Update With 7 Day Price Move • Jul 20
Investor sentiment improved over the past week After last week's 16% share price gain to NT$88.30, the stock trades at a trailing P/E ratio of 7.2x. Average forward P/E is 9x in the Electronic industry in Taiwan. Total returns to shareholders of 244% over the past three years. Buying Opportunity • Jun 30
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 25%. The fair value is estimated to be NT$115, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 25% over the last 3 years. Earnings per share has grown by 38%. Upcoming Dividend • Jun 30
Upcoming dividend of NT$7.00 per share Eligible shareholders must have bought the stock before 07 July 2022. Payment date: 29 July 2022. Payout ratio is a comfortable 56% but the company is not cash flow positive. Trailing yield: 7.5%. Within top quartile of Taiwanese dividend payers (6.4%). Higher than average of industry peers (4.6%). Reported Earnings • May 02
First quarter 2022 earnings released: EPS: NT$2.97 (vs NT$2.54 in 1Q 2021) First quarter 2022 results: EPS: NT$2.97 (up from NT$2.54 in 1Q 2021). Revenue: NT$1.47b (up 7.2% from 1Q 2021). Net income: NT$306.0m (up 33% from 1Q 2021). Profit margin: 21% (up from 17% in 1Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 5.4%, compared to a 10% growth forecast for the industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has increased by 46% per year, which means it is tracking significantly ahead of 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. 10 experienced directors. No highly experienced directors. 3 independent directors (5 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Price Target Changed • Apr 14
Price target decreased to NT$160 Down from NT$188, the current price target is provided by 1 analyst. New target price is 39% above last closing price of NT$116. Stock is down 45% over the past year. The company posted earnings per share of NT$12.08 last year. Announcement • Mar 06
TAI-TECH Advanced Electronics Co., Ltd., Annual General Meeting, Jun 21, 2022 TAI-TECH Advanced Electronics Co., Ltd., Annual General Meeting, Jun 21, 2022. Reported Earnings • Feb 28
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: NT$12.08 (up from NT$8.07 in FY 2020). Revenue: NT$6.17b (up 38% from FY 2020). Net income: NT$1.20b (up 63% from FY 2020). Profit margin: 19% (up from 16% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 11%, compared to a 9.1% growth forecast for the industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has increased by 57% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Nov 15
Third quarter 2021 earnings released: EPS NT$3.39 (vs NT$2.05 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$1.69b (up 38% from 3Q 2020). Net income: NT$349.7m (up 87% from 3Q 2020). Profit margin: 21% (up from 15% 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 31% per year but the company’s share price has increased by 56% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Oct 04
Investor sentiment deteriorated over the past week After last week's 16% share price decline to NT$118, the stock trades at a trailing P/E ratio of 13x. Average forward P/E is 11x in the Electronic industry in Taiwan. Total returns to shareholders of 266% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$158 per share. Price Target Changed • Aug 21
Price target decreased to NT$175 Down from NT$209, the current price target is an average from 4 analysts. New target price is 23% above last closing price of NT$143. Stock is up 92% over the past year. Upcoming Dividend • Jun 24
Upcoming dividend of NT$4.10 per share Eligible shareholders must have bought the stock before 01 July 2021. Payment date: 23 July 2021. Trailing yield: 2.7%. Lower than top quartile of Taiwanese dividend payers (5.0%). In line with average of industry peers (3.0%). Valuation Update With 7 Day Price Move • Jun 01
Investor sentiment improved over the past week After last week's 19% share price gain to NT$152, the stock trades at a trailing P/E ratio of 16.8x. Average forward P/E is 12x in the Electronic industry in Taiwan. Total returns to shareholders of 269% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$116 per share. Reported Earnings • May 06
First quarter 2021 earnings released: EPS NT$2.54 (vs NT$2.05 in 1Q 2020) The company reported a solid first quarter result with improved earnings and revenues, although profit margins were weaker. First quarter 2021 results: Revenue: NT$1.37b (up 35% from 1Q 2020). Net income: NT$230.9m (up 24% from 1Q 2020). Profit margin: 17% (down from 18% in 1Q 2020). The decrease in margin was driven by higher expenses. 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 61% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Apr 20
Investor sentiment improved over the past week After last week's 19% share price gain to NT$231, the stock trades at a trailing P/E ratio of 28.6x. Average forward P/E is 14x in the Electronic industry in Taiwan. Total returns to shareholders of 748% over the past three years. Valuation Update With 7 Day Price Move • Mar 26
Investor sentiment improved over the past week After last week's 16% share price gain to NT$152, the stock trades at a trailing P/E ratio of 18.8x. Average trailing P/E is 18x in the Electronic industry in Taiwan. Total returns to shareholders of 538% over the past three years. Announcement • Mar 04
TAI-TECH Advanced Electronics Co., Ltd., Annual General Meeting, Jun 10, 2021 TAI-TECH Advanced Electronics Co., Ltd., Annual General Meeting, Jun 10, 2021. Reported Earnings • Mar 03
Full year 2020 earnings released: EPS NT$8.07 (vs NT$4.83 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$4.48b (up 34% from FY 2019). Net income: NT$734.7m (up 67% from FY 2019). Profit margin: 16% (up from 13% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has increased by 69% per year, which means it is tracking significantly ahead of earnings growth. Is New 90 Day High Low • Feb 26
New 90-day high: NT$136 The company is up 34% from its price of NT$101 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 Electronic industry, which is up 23% over the same period. Valuation Update With 7 Day Price Move • Feb 20
Investor sentiment improved over the past week After last week's 18% share price gain to NT$135, the stock is trading at a trailing P/E ratio of 17.1x, up from the previous P/E ratio of 14.5x. This compares to an average P/E of 19x in the Electronic industry in Taiwan. Total returns to shareholders over the past three years are 487%. Is New 90 Day High Low • Feb 06
New 90-day high: NT$114 The company is up 27% from its price of NT$89.90 on 06 November 2020. The Taiwanese market is up 20% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is up 25% over the same period. Is New 90 Day High Low • Jan 08
New 90-day high: NT$105 The company is up 32% from its price of NT$78.90 on 08 October 2020. The Taiwanese market is up 17% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is up 22% over the same period. Reported Earnings • Nov 21
Third quarter 2020 earnings released: EPS NT$2.05 The company reported a solid third quarter result with improved earnings and revenues, although profit margins were flat. Third quarter 2020 results: Revenue: NT$1.23b (up 33% from 3Q 2019). Net income: NT$186.9m (up 32% from 3Q 2019). Profit margin: 15% (in line with 3Q 2019). 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 52% per year, which means it is tracking significantly ahead of earnings growth. Is New 90 Day High Low • Nov 20
New 90-day high: NT$90.70 The company is up 22% from its price of NT$74.60 on 21 August 2020. The Taiwanese market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is up 5.0% over the same period. Is New 90 Day High Low • Oct 29
New 90-day high: NT$80.80 The company is up 34% from its price of NT$60.50 on 31 July 2020. The Taiwanese market is up 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is down 2.0% over the same period.