Valuation Update With 7 Day Price Move • Apr 28
Investor sentiment deteriorates as stock falls 22% After last week's 22% share price decline to NT$25.90, the stock trades at a trailing P/E ratio of 13.9x. Average trailing P/E is 27x in the Electronic industry in Taiwan. Total returns to shareholders of 75% over the past three years. Valuation Update With 7 Day Price Move • Apr 09
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$27.65, the stock trades at a trailing P/E ratio of 14.8x. Average trailing P/E is 26x in the Electronic industry in Taiwan. Total returns to shareholders of 82% over the past three years. Valuation Update With 7 Day Price Move • Mar 24
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to NT$25.55, the stock trades at a trailing P/E ratio of 11.2x. Average trailing P/E is 24x in the Electronic industry in Taiwan. Total returns to shareholders of 77% over the past three years. New Risk • Mar 01
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (13% average weekly change). Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (4.5% net profit margin). Market cap is less than US$100m (NT$1.85b market cap, or US$59.0m). New Risk • Feb 04
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 12% 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 (12% average weekly change). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (4.5% net profit margin). Market cap is less than US$100m (NT$2.09b market cap, or US$66.2m). Announcement • Feb 04
Bison Electronics Inc., Annual General Meeting, May 06, 2026 Bison Electronics Inc., Annual General Meeting, May 06, 2026, at 10:00 Taipei Standard Time. Location: 3 floor no,28 aly.20 ln.26, jui kuang rd., neihu district, taipei city Taiwan Valuation Update With 7 Day Price Move • Feb 04
Investor sentiment improves as stock rises 38% After last week's 38% share price gain to NT$38.75, the stock trades at a trailing P/E ratio of 17x. Average trailing P/E is 23x in the Electronic industry in Taiwan. Total returns to shareholders of 139% over the past three years. New Risk • Dec 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 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). Profit margins are more than 30% lower than last year (4.5% net profit margin). Market cap is less than US$100m (NT$1.42b market cap, or US$45.6m). Upcoming Dividend • Sep 16
Upcoming dividend of NT$1.90 per share Eligible shareholders must have bought the stock before 23 September 2025. Payment date: 20 October 2025. Payout ratio is on the higher end at 83%, however this is supported by cash flows. Trailing yield: 6.5%. Within top quartile of Taiwanese dividend payers (5.3%). Higher than average of industry peers (2.4%). New Risk • Aug 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: 4.5% Last year net profit margin: 7.9% 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 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 (6.4% average weekly change). Profit margins are more than 30% lower than last year (4.5% net profit margin). Market cap is less than US$100m (NT$1.60b market cap, or US$53.3m). Valuation Update With 7 Day Price Move • Jul 17
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to NT$30.85, the stock trades at a trailing P/E ratio of 7.8x. Average trailing P/E is 19x in the Electronic industry in Taiwan. Total returns to shareholders of 104% 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 6.9% 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 (6.9% average weekly change). Market cap is less than US$100m (NT$1.47b market cap, or US$44.5m). Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to NT$27.45, the stock trades at a trailing P/E ratio of 6.9x. Average trailing P/E is 19x in the Electronic industry in Taiwan. Total returns to shareholders of 55% over the past three years. Buy Or Sell Opportunity • Mar 31
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 5.9% to NT$32.10. The fair value is estimated to be NT$41.11, 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 25%. Reported Earnings • Mar 28
Full year 2024 earnings released: EPS: NT$3.95 (vs NT$2.54 in FY 2023) Full year 2024 results: EPS: NT$3.95 (up from NT$2.54 in FY 2023). Revenue: NT$2.74b (up 9.0% from FY 2023). Net income: NT$214.0m (up 56% from FY 2023). Profit margin: 7.8% (up from 5.5% in FY 2023). The increase in margin was driven by higher 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 17% per year, which means it is significantly lagging earnings growth. Announcement • Mar 21
Bison Electronics Inc., Annual General Meeting, Jun 12, 2025 Bison Electronics Inc., Annual General Meeting, Jun 12, 2025, at 10:00 Taipei Standard Time. Location: 3 floor no,28 aly.20 ln.26, jui kuang rd., neihu district, taipei city Taiwan New Risk • Feb 23
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Minor Risks Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Dividend is not well covered by cash flows (94% cash payout ratio). Market cap is less than US$100m (NT$1.85b market cap, or US$56.4m). Upcoming Dividend • Aug 15
Upcoming dividend of NT$1.50 per share Eligible shareholders must have bought the stock before 22 August 2024. Payment date: 18 September 2024. Payout ratio is a comfortable 38% and this is well supported by cash flows. Trailing yield: 4.2%. Lower than top quartile of Taiwanese dividend payers (4.4%). Higher than average of industry peers (2.8%). Valuation Update With 7 Day Price Move • Jul 31
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to NT$29.95, the stock trades at a trailing P/E ratio of 11.8x. Average trailing P/E is 24x in the Electronic industry in Taiwan. Total returns to shareholders of 76% over the past three years. Valuation Update With 7 Day Price Move • Jun 20
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to NT$36.00, the stock trades at a trailing P/E ratio of 14.2x. Average trailing P/E is 25x in the Electronic industry in Taiwan. Total returns to shareholders of 111% over the past three years. Valuation Update With 7 Day Price Move • Apr 29
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to NT$33.00, the stock trades at a trailing P/E ratio of 13x. Average trailing P/E is 24x in the Electronic industry in Taiwan. Total returns to shareholders of 86% over the past three years. Valuation Update With 7 Day Price Move • Apr 10
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to NT$30.60, the stock trades at a trailing P/E ratio of 12.1x. Average trailing P/E is 25x in the Electronic industry in Taiwan. Total returns to shareholders of 74% over the past three years. Buy Or Sell Opportunity • Mar 26
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 8.7% to NT$25.50. The fair value is estimated to be NT$21.20, however this is not to be taken as a sell 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 5.2%. Announcement • Mar 21
Bison Electronics Inc., Annual General Meeting, Jun 14, 2024 Bison Electronics Inc., Annual General Meeting, Jun 14, 2024. Reported Earnings • Mar 20
Full year 2023 earnings released: EPS: NT$2.54 (vs NT$2.11 in FY 2022) Full year 2023 results: EPS: NT$2.54 (up from NT$2.11 in FY 2022). Revenue: NT$2.51b (up 22% from FY 2022). Net income: NT$137.4m (up 20% from FY 2022). Profit margin: 5.5% (down from 5.6% in FY 2022). The decrease in margin was driven by higher expenses. 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. New Risk • Feb 27
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (23% accrual ratio). Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (3.8% net profit margin). Market cap is less than US$100m (NT$1.23b market cap, or US$38.9m). New Risk • Aug 20
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 23% 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 (23% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (6.6% average weekly change). Profit margins are more than 30% lower than last year (3.8% net profit margin). Market cap is less than US$100m (NT$941.8m market cap, or US$29.5m). Upcoming Dividend • Aug 10
Upcoming dividend of NT$1.00 per share at 5.7% yield Eligible shareholders must have bought the stock before 17 August 2023. Payment date: 15 September 2023. Payout ratio is a comfortable 47% 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 (4.1%). New Risk • Jul 21
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 6.2% 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 (6.2% average weekly change). Market cap is less than US$100m (NT$1.00b market cap, or US$32.0m). Buying Opportunity • Jan 04
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 6.7%. The fair value is estimated to be NT$20.31, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.7% over the last 3 years. Earnings per share has grown by 25%. Buying Opportunity • Dec 07
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 16%. The fair value is estimated to be NT$20.23, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.7% over the last 3 years. Earnings per share has grown by 25%. Board Change • Nov 17
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. No highly experienced 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: Insufficient board refreshment. Reported Earnings • Aug 11
First half 2022 earnings released First half 2022 results: Revenue: (down 100% from 1H 2021). Net income: (down NT$46.1m from profit in 1H 2021). Profit margin: (down from 5.3% in 1H 2021). The decrease in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 25% per year and the company’s share price has also increased by 25% per year. Valuation Update With 7 Day Price Move • Jul 29
Investor sentiment improved over the past week After last week's 20% share price gain to NT$22.15, the stock trades at a trailing P/E ratio of 10.2x. Average trailing P/E is 13x in the Electronic industry in Taiwan. Total returns to shareholders of 183% over the past three years. Upcoming Dividend • Jul 08
Upcoming dividend of NT$0.60 per share Eligible shareholders must have bought the stock before 15 July 2022. Payment date: 05 August 2022. Payout ratio is a comfortable 28% but the company is not cash flow positive. Trailing yield: 3.4%. Lower than top quartile of Taiwanese dividend payers (6.8%). Lower than average of industry peers (4.9%). Board Change • Apr 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. No highly experienced 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: Insufficient board refreshment. Reported Earnings • Mar 31
Full year 2021 earnings released: EPS: NT$2.16 (vs NT$1.87 in FY 2020) Full year 2021 results: EPS: NT$2.16 (up from NT$1.87 in FY 2020). Revenue: NT$1.91b (up 38% from FY 2020). Net income: NT$106.4m (up 15% from FY 2020). Profit margin: 5.6% (down from 6.7% in FY 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 33% per year whereas the company’s share price has increased by 34% per year. Upcoming Dividend • Sep 02
Upcoming dividend of NT$1.20 per share Eligible shareholders must have bought the stock before 09 September 2021. Payment date: 14 December 2021. Trailing yield: 6.2%. Within top quartile of Taiwanese dividend payers (5.2%). Higher than average of industry peers (3.2%). Reported Earnings • Aug 18
First half 2021 earnings released: EPS NT$0.94 (vs NT$0.74 in 1H 2020) The company reported a solid first half result with improved earnings and revenues, although profit margins were weaker. First half 2021 results: Revenue: NT$867.7m (up 49% from 1H 2020). Net income: NT$46.1m (up 26% from 1H 2020). Profit margin: 5.3% (down from 6.3% in 1H 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Reported Earnings • Mar 30
Full year 2020 earnings released: EPS NT$1.87 (vs NT$1.64 in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: NT$1.38b (down 14% from FY 2019). Net income: NT$92.2m (up 14% from FY 2019). Profit margin: 6.7% (up from 5.0% in FY 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 39% 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 • Mar 07
Investor sentiment improved over the past week After last week's 15% share price gain to NT$19.40, the stock is trading at a trailing P/E ratio of 12.1x, up from the previous P/E ratio of 10.5x. This compares to an average P/E of 18x in the Electronic industry in Taiwan. Total returns to shareholders over the past three years are 200%. Valuation Update With 7 Day Price Move • Feb 20
Investor sentiment improved over the past week After last week's 19% share price gain to NT$16.85, the stock is trading at a trailing P/E ratio of 10.5x, up from the previous P/E ratio of 8.8x. 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 183%. Is New 90 Day High Low • Feb 18
New 90-day high: NT$14.75 The company is up 8.0% from its price of NT$13.60 on 19 November 2020. The Taiwanese market is up 18% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 22% over the same period. Is New 90 Day High Low • Oct 21
New 90-day high: NT$14.35 The company is up 16% from its price of NT$12.40 on 23 July 2020. The Taiwanese market is up 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is down 4.0% over the same period.