Price Target Changed • Mar 20
Price target decreased by 13% to NT$105 Down from NT$121, the current price target is an average from 2 analysts. New target price is 18% above last closing price of NT$89.10. Stock is down 22% over the past year. The company is forecast to post earnings per share of NT$7.62 for next year compared to NT$6.45 last year. Reported Earnings • Mar 17
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: EPS: NT$6.45 (down from NT$6.85 in FY 2024). Revenue: NT$8.48b (up 12% from FY 2024). Net income: NT$467.8m (down 5.9% from FY 2024). Profit margin: 5.5% (down from 6.5% in FY 2024). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 4.7%. Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 20% growth forecast for the Tech industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Announcement • Mar 13
Avalue Technology Incorporation, Annual General Meeting, Jun 09, 2026 Avalue Technology Incorporation, Annual General Meeting, Jun 09, 2026. Location: 7 floor no,228, lien ch`eng rd., jhonghe district, new taipei city Taiwan Reported Earnings • Nov 16
Third quarter 2025 earnings: Revenues and EPS in line with analyst expectations Third quarter 2025 results: EPS: NT$1.94 (down from NT$1.98 in 3Q 2024). Revenue: NT$2.34b (up 7.9% from 3Q 2024). Net income: NT$140.7m (down 1.9% from 3Q 2024). Profit margin: 6.0% (down from 6.6% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 15% p.a. on average during the next 2 years, compared to a 21% growth forecast for the Tech industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 19% per year, which means it is well ahead of earnings. Major Estimate Revision • Aug 23
Consensus EPS estimates fall by 11%, revenue upgraded The consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast increased from NT$8.58b to NT$8.71b. EPS estimate fell from NT$8.05 to NT$7.16 per share. Net income forecast to grow 14% next year vs 23% growth forecast for Tech industry in Taiwan. Consensus price target up from NT$114 to NT$121. Share price rose 2.4% to NT$107 over the past week. Reported Earnings • Aug 17
Second quarter 2025 earnings: EPS and revenues miss analyst expectations Second quarter 2025 results: EPS: NT$1.22 (down from NT$1.62 in 2Q 2024). Revenue: NT$2.10b (up 9.4% from 2Q 2024). Net income: NT$88.3m (down 25% from 2Q 2024). Profit margin: 4.2% (down from 6.1% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 1.3%. Earnings per share (EPS) also missed analyst estimates by 33%. Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 17% growth forecast for the Tech industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 17% per year, which means it is well ahead of earnings. Upcoming Dividend • Jun 26
Upcoming dividend of NT$5.20 per share Eligible shareholders must have bought the stock before 03 July 2025. Payment date: 31 July 2025. Payout ratio is on the higher end at 94% but the company is not cash flow positive. Trailing yield: 6.1%. Within top quartile of Taiwanese dividend payers (5.3%). Higher than average of industry peers (3.7%). Announcement • Jun 11
Avalue Technology Incorporation (TPEX:3479) agreed to acquire 51% stake in Champ Vision Display. Inc from Coretronic Corporation (TPEX:5371) for approximately TWD 250 million. Avalue Technology Incorporation (TPEX:3479) agreed to acquire 51% stake in Champ Vision Display. Inc from Coretronic Corporation (TPEX:5371) and other shareholders for approximately TWD 250 million on June 10, 2025. A cash consideration valued at TWD 27 per share will be paid by Avalue Technology Incorporation. Avalue Technology Incorporation will use its own funds for the acquisition.
The transaction is subject to approval of offer by the board of Avalue Technology Incorporation. The deal has been approved by the board of Avalue Technology Incorporation.
CHUNYI CPA FIRM acted as accountant for Avalue Technology Incorporation. Declared Dividend • Jun 07
Dividend of NT$5.20 announced Shareholders will receive a dividend of NT$5.20. Ex-date: 3rd July 2025 Payment date: 31st July 2025 Dividend yield will be 5.4%, which is higher than the industry average of 3.0%. Sustainability & Growth Dividend is not adequately covered by earnings (94% earnings payout ratio) 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 7.9% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 4.9% to bring the payout ratio under control. EPS is expected to grow by 8.1% over the next year, which is sufficient to bring the dividend into a sustainable range. Price Target Changed • Jun 06
Price target decreased by 11% to NT$114 Down from NT$128, the current price target is an average from 3 analysts. New target price is 19% above last closing price of NT$95.70. Stock is down 20% over the past year. The company is forecast to post earnings per share of NT$8.05 for next year compared to NT$6.85 last year. Reported Earnings • May 14
First quarter 2025 earnings: EPS and revenues exceed analyst expectations First quarter 2025 results: EPS: NT$1.88 (up from NT$1.17 in 1Q 2024). Revenue: NT$1.93b (up 24% from 1Q 2024). Net income: NT$136.3m (up 61% from 1Q 2024). Profit margin: 7.1% (up from 5.4% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 3.4%. Earnings per share (EPS) also surpassed analyst estimates by 19%. Revenue is forecast to grow 10% p.a. on average during the next 2 years, compared to a 16% growth forecast for the Tech industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 20% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 06
Avalue Technology Incorporation to Report Q1, 2025 Results on May 13, 2025 Avalue Technology Incorporation announced that they will report Q1, 2025 results on May 13, 2025 Valuation Update With 7 Day Price Move • Apr 29
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$98.40, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 13x in the Tech industry in Taiwan. Total returns to shareholders of 83% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$92.70 per share. New Risk • Apr 10
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. Payout ratio: 94% Paying a dividend despite having no free cash flows. High level of non-cash earnings (25% accrual ratio). Minor Risk Share price has been volatile over the past 3 months (8.0% average weekly change). Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to NT$94.10, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 12x in the Tech industry in Taiwan. Total returns to shareholders of 80% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$92.71 per share. Price Target Changed • Mar 22
Price target increased by 24% to NT$128 Up from NT$103, the current price target is an average from 3 analysts. New target price is 12% above last closing price of NT$115. Stock is down 6.9% over the past year. The company is forecast to post earnings per share of NT$8.56 for next year compared to NT$6.85 last year. Major Estimate Revision • Mar 21
Consensus EPS estimates increase by 25% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has improved. 2025 revenue forecast increased from NT$8.40b to NT$8.75b. EPS estimate increased from NT$7.08 to NT$8.86 per share. Net income forecast to grow 20% next year vs 25% growth forecast for Tech industry in Taiwan. Consensus price target of NT$121 unchanged from last update. Share price rose 6.5% to NT$115 over the past week. Reported Earnings • Mar 19
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: NT$6.85 (down from NT$8.38 in FY 2023). Revenue: NT$7.60b (down 7.7% from FY 2023). Net income: NT$497.1m (down 18% from FY 2023). Profit margin: 6.5% (down from 7.3% in FY 2023). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 14%. Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 17% growth forecast for the Tech industry in Taiwan. 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 24% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Mar 12
Avalue Technology Incorporation, Annual General Meeting, Jun 10, 2025 Avalue Technology Incorporation, Annual General Meeting, Jun 10, 2025. Location: 7 floor no,228, lien ch`eng rd., jhonghe district, new taipei city Taiwan Announcement • Mar 04
Avalue Technology Incorporation to Report Fiscal Year 2024 Results on Mar 11, 2025 Avalue Technology Incorporation announced that they will report fiscal year 2024 results at 2:30 PM, Taipei Standard Time on Mar 11, 2025 Valuation Update With 7 Day Price Move • Feb 11
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to NT$107, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 15x in the Tech industry in Taiwan. Total returns to shareholders of 115% over the past three years. New Risk • Dec 16
New major risk - Financial data availability The company has not reported any financial data. This is considered a major risk. With no or incomplete audited reported financial data, it is virtually impossible to assess the company's investment potential. Currently, the following risks have been identified for the company: Major Risk No financial data reported. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Reported Earnings • Nov 14
Third quarter 2024 earnings: EPS and revenues miss analyst expectations Third quarter 2024 results: EPS: NT$1.98 (down from NT$2.49 in 3Q 2023). Revenue: NT$2.17b (down 4.5% from 3Q 2023). Net income: NT$143.5m (down 20% from 3Q 2023). Profit margin: 6.6% (down from 7.9% in 3Q 2023). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 6.2%. Earnings per share (EPS) also missed analyst estimates by 30%. Revenue is forecast to grow 15% p.a. on average during the next 2 years, compared to a 21% growth forecast for the Tech industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 23% per year and the company’s share price has also increased by 23% per year. Announcement • Nov 05
Avalue Technology Incorporation to Report Q3, 2024 Results on Nov 12, 2024 Avalue Technology Incorporation announced that they will report Q3, 2024 results on Nov 12, 2024 Buy Or Sell Opportunity • Oct 30
Now 20% undervalued The stock has been flat over the last 90 days, currently trading at NT$99.90. The fair value is estimated to be NT$125, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 20% over the last 3 years. Earnings per share has grown by 34%. Revenue is forecast to grow by 15% in a year. Earnings are forecast to grow by 33% in the next year. Buy Or Sell Opportunity • Aug 29
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 7.5% to NT$105. The fair value is estimated to be NT$131, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 20% over the last 3 years. Earnings per share has grown by 34%. Reported Earnings • Aug 17
Second quarter 2024 earnings: EPS and revenues miss analyst expectations Second quarter 2024 results: EPS: NT$1.62 (down from NT$1.75 in 2Q 2023). Revenue: NT$1.92b (down 3.6% from 2Q 2023). Net income: NT$117.6m (down 6.6% from 2Q 2023). Profit margin: 6.1% (down from 6.3% in 2Q 2023). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 5.9%. Earnings per share (EPS) also missed analyst estimates by 33%. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has only increased by 25% per year, which means it is significantly lagging earnings growth. Announcement • Aug 08
Avalue Technology Incorporation to Report Q2, 2024 Results on Aug 13, 2024 Avalue Technology Incorporation announced that they will report Q2, 2024 results on Aug 13, 2024 Declared Dividend • Jun 08
Dividend of NT$6.00 announced Shareholders will receive a dividend of NT$6.00. Ex-date: 4th July 2024 Payment date: 31st July 2024 Dividend yield will be 5.0%, which is higher than the industry average of 3.0%. Sustainability & Growth Dividend is covered by both earnings (86% earnings payout ratio) and cash flows (35% cash payout ratio). The dividend has increased by an average of 5.5% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 13% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • May 18
First quarter 2024 earnings: EPS misses analyst expectations First quarter 2024 results: EPS: NT$1.17 (down from NT$2.56 in 1Q 2023). Revenue: NT$1.56b (down 25% from 1Q 2023). Net income: NT$84.5m (down 54% from 1Q 2023). Profit margin: 5.4% (down from 8.7% in 1Q 2023). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 22%. Over the last 3 years on average, earnings per share has increased by 44% per year but the company’s share price has only increased by 32% per year, which means it is significantly lagging earnings growth. Announcement • May 08
Avalue Technology Incorporation to Report Q1, 2024 Results on May 14, 2024 Avalue Technology Incorporation announced that they will report Q1, 2024 results on May 14, 2024 Reported Earnings • Mar 17
Full year 2023 earnings: EPS misses analyst expectations Full year 2023 results: EPS: NT$8.38 (up from NT$7.90 in FY 2022). Revenue: NT$8.23b (up 4.5% from FY 2022). Net income: NT$602.6m (up 7.6% from FY 2022). Profit margin: 7.3% (up from 7.1% in FY 2022). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 4.8%. Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has only increased by 30% per year, which means it is significantly lagging earnings growth. Announcement • Mar 15
Avalue Technology Incorporation, Annual General Meeting, Jun 12, 2024 Avalue Technology Incorporation, Annual General Meeting, Jun 12, 2024. Location: /F, No. 228 Liancheng Road, Zhonghe District, New Taipei City New Taipei City Taiwan Agenda: To consider 2023 Business Report; to consider 2023 Audit Committees' Review Report; to consider 2023 Earnings Distribution Report; to consider 2023 Distribution of Directors' and Employees' Remuneration; to consider The Status of The Company's Domestic Unsecured Convertible Bonds III; to discuss of amendments to the Company's Code of Ethical Conduct for Directors and Managerial Officers; to discuss of amendments to the Company's Procedures for Ethical Management and Guidelines for Conduct. Valuation Update With 7 Day Price Move • Feb 23
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$129, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 19x in the Tech industry in Taiwan. Total returns to shareholders of 187% over the past three years. New Risk • Feb 13
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 5.4% 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. 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 (5.4% average weekly change). Major Estimate Revision • Dec 07
Consensus EPS estimates fall by 18% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from NT$8.58b to NT$8.31b. EPS estimate also fell from NT$10.91 per share to NT$8.93 per share. Net income forecast to grow 17% next year vs 26% growth forecast for Tech industry in Taiwan. Consensus price target up from NT$109 to NT$139. Share price rose 10.0% to NT$116 over the past week. Reported Earnings • Nov 15
Third quarter 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2023 results: EPS: NT$2.49 (up from NT$2.03 in 3Q 2022). Revenue: NT$2.27b (up 11% from 3Q 2022). Net income: NT$179.5m (up 25% from 3Q 2022). Profit margin: 7.9% (up from 7.1% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 8.5%. Earnings per share (EPS) missed analyst estimates by 7.8%. 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 21% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 12
Second quarter 2023 earnings: EPS and revenues miss analyst expectations Second quarter 2023 results: EPS: NT$1.75 (down from NT$1.89 in 2Q 2022). Revenue: NT$1.99b (up 6.5% from 2Q 2022). Net income: NT$125.8m (down 6.2% from 2Q 2022). Profit margin: 6.3% (down from 7.2% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 7.1%. Earnings per share (EPS) also missed analyst estimates by 39%. 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 24% per year, which means it is significantly lagging earnings growth. New Risk • Jul 27
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.2% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. 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). Shareholders have been diluted in the past year (2.2% increase in shares outstanding). Upcoming Dividend • Jun 20
Upcoming dividend of NT$4.94 per share at 4.2% yield Eligible shareholders must have bought the stock before 27 June 2023. Payment date: 24 July 2023. Payout ratio is a comfortable 55% and this is well supported by cash flows. Trailing yield: 4.2%. Lower than top quartile of Taiwanese dividend payers (5.5%). In line with average of industry peers (3.9%). Valuation Update With 7 Day Price Move • May 02
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$111, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 13x in the Tech industry in Taiwan. Total returns to shareholders of 86% over the past three years. Valuation Update With 7 Day Price Move • Mar 22
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$97.00, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 12x in the Tech industry in Taiwan. Total returns to shareholders of 85% over the past three years. Valuation Update With 7 Day Price Move • Dec 28
Investor sentiment improved over the past week After last week's 21% share price gain to NT$83.00, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 10x in the Tech industry in Taiwan. Total returns to shareholders of 27% over the past three years. Valuation Update With 7 Day Price Move • Dec 14
Investor sentiment improved over the past week After last week's 17% share price gain to NT$71.70, the stock trades at a trailing P/E ratio of 10.5x. Average trailing P/E is 12x in the Tech industry in Taiwan. Total returns to shareholders of 8.3% over the past three years. Reported Earnings • Nov 16
Third quarter 2022 earnings released: EPS: NT$2.03 (vs NT$0.83 in 3Q 2021) Third quarter 2022 results: EPS: NT$2.03 (up from NT$0.83 in 3Q 2021). Revenue: NT$2.04b (up 57% from 3Q 2021). Net income: NT$144.2m (up 146% from 3Q 2021). Profit margin: 7.1% (up from 4.5% in 3Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 12% per year whereas the company’s share price has fallen by 8% per year. Board Change • Nov 16
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. No independent directors (4 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: Lack of independent directors. Insufficient board refreshment. Reported Earnings • Aug 13
Second quarter 2022 earnings released: EPS: NT$1.89 (vs NT$0.41 in 2Q 2021) Second quarter 2022 results: EPS: NT$1.89 (up from NT$0.41 in 2Q 2021). Revenue: NT$1.87b (up 63% from 2Q 2021). Net income: NT$134.1m (up 367% from 2Q 2021). Profit margin: 7.2% (up from 2.5% in 2Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 20% 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. Upcoming Dividend • Jun 20
Upcoming dividend of NT$2.58 per share Eligible shareholders must have bought the stock before 27 June 2022. Payment date: 22 July 2022. Payout ratio is a comfortable 63% but the company is not cash flow positive. Trailing yield: 4.5%. Lower than top quartile of Taiwanese dividend payers (6.2%). Lower than average of industry peers (7.1%). Reported Earnings • May 17
First quarter 2022 earnings released: EPS: NT$1.49 (vs NT$0.28 in 1Q 2021) First quarter 2022 results: EPS: NT$1.49 (up from NT$0.28 in 1Q 2021). Revenue: NT$1.65b (up 55% from 1Q 2021). Net income: NT$105.2m (up 450% from 1Q 2021). Profit margin: 6.4% (up from 1.8% 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 23% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Board Change • Apr 27
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. No independent directors (4 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: Lack of independent directors. Insufficient board refreshment. Announcement • Apr 02
Avalue Technology Inc., Annual General Meeting, Jun 24, 2022 Avalue Technology Inc., Annual General Meeting, Jun 24, 2022. Reported Earnings • Mar 28
Full year 2021 earnings released: EPS: NT$2.94 (vs NT$3.23 in FY 2020) Full year 2021 results: EPS: NT$2.94 (down from NT$3.23 in FY 2020). Revenue: NT$4.93b (up 5.1% from FY 2020). Net income: NT$206.4m (down 7.9% from FY 2020). Profit margin: 4.2% (down from 4.8% in FY 2020). The decrease in margin was driven by higher expenses. 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 7% per year, which means it is well ahead of earnings. Reported Earnings • Nov 11
Third quarter 2021 earnings released: EPS NT$0.83 (vs NT$0.75 in 3Q 2020) The company reported a solid third quarter result with improved earnings and revenues, although profit margins were weaker. Third quarter 2021 results: Revenue: NT$1.30b (up 19% from 3Q 2020). Net income: NT$58.7m (up 13% from 3Q 2020). Profit margin: 4.5% (down from 4.8% in 3Q 2020). The decrease in margin was driven by higher expenses. 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 10% per year, which means it is well ahead of earnings. Upcoming Dividend • Jun 21
Upcoming dividend of NT$2.58 per share Eligible shareholders must have bought the stock before 28 June 2021. Payment date: 23 July 2021. Trailing yield: 4.9%. Lower than top quartile of Taiwanese dividend payers (5.0%). In line with average of industry peers (4.9%). Reported Earnings • May 15
First quarter 2021 earnings released: EPS NT$0.27 (vs NT$1.40 in 1Q 2020) The company reported a poor first quarter result with weaker earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$1.06b (down 31% from 1Q 2020). Net income: NT$19.1m (down 80% from 1Q 2020). Profit margin: 1.8% (down from 6.3% in 1Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 5% per year whereas the company’s share price has increased by 3% per year. Reported Earnings • Mar 31
Full year 2020 earnings released: EPS NT$3.23 (vs NT$6.65 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$4.69b (down 24% from FY 2019). Net income: NT$224.1m (down 51% from FY 2019). Profit margin: 4.8% (down from 7.5% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Is New 90 Day High Low • Mar 11
New 90-day low: NT$50.70 The company is down 7.0% from its price of NT$54.80 on 11 December 2020. The Taiwanese market is up 11% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Tech industry, which is up 9.0% over the same period. Reported Earnings • Nov 15
Third quarter 2020 earnings released: EPS NT$0.75 The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2020 results: Revenue: NT$1.09b (down 28% from 3Q 2019). Net income: NT$52.1m (down 63% from 3Q 2019). Profit margin: 4.8% (down from 9.3% 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 25% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Is New 90 Day High Low • Nov 04
New 90-day low: NT$49.80 The company is down 12% from its price of NT$56.80 on 06 August 2020. The Taiwanese market is down 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Tech industry, which is down 4.0% over the same period. Is New 90 Day High Low • Oct 20
New 90-day low: NT$50.70 The company is down 15% from its price of NT$60.00 on 22 July 2020. The Taiwanese market is up 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Tech industry, which is down 2.0% over the same period.