New Risk • May 25
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 9.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 17% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (9.6% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (4.5% net profit margin). Reported Earnings • May 15
First quarter 2026 earnings released: EPS: NT$0.063 (vs NT$0.33 in 1Q 2025) First quarter 2026 results: EPS: NT$0.063 (down from NT$0.33 in 1Q 2025). Revenue: NT$272.6m (down 2.3% from 1Q 2025). Net income: NT$5.02m (down 81% from 1Q 2025). Profit margin: 1.8% (down from 9.5% in 1Q 2025). Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has increased by 40% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • May 05
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$68.30, the stock trades at a trailing P/E ratio of 75.8x. Average trailing P/E is 29x in the Electronic industry in Taiwan. Total returns to shareholders of 172% over the past three years. New Risk • Apr 06
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 23% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 12% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (8.4% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (6.4% net profit margin). Reported Earnings • Mar 12
Full year 2025 earnings released: EPS: NT$0.90 (vs NT$2.07 in FY 2024) Full year 2025 results: EPS: NT$0.90 (down from NT$2.07 in FY 2024). Revenue: NT$1.11b (down 18% from FY 2024). Net income: NT$71.8m (down 56% from FY 2024). Profit margin: 6.4% (down from 12% in FY 2024). The decrease in margin was driven by lower revenue. 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 25% per year, which means it is well ahead of earnings. New Risk • Mar 12
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 129% Cash payout ratio: 175% Dividend yield: 2.8% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 129% Cash payout ratio: 175% Earnings have declined by 12% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (8.4% average weekly change). Profit margins are more than 30% lower than last year (6.4% net profit margin). Announcement • Mar 11
Laser Tek Taiwan Co.,Ltd., Annual General Meeting, Jun 04, 2026 Laser Tek Taiwan Co.,Ltd., Annual General Meeting, Jun 04, 2026. Location: 2 floor no,248-45, hsin sheng rd., cianjhen district, kaohsiung city Taiwan New Risk • Jan 28
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 6.8% 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 9.2% per year over the past 5 years. Minor Risks Dividend is not well covered by earnings (129% payout ratio). Share price has been volatile over the past 3 months (6.8% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (7.2% net profit margin). 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$56.50, the stock trades at a trailing P/E ratio of 48.5x. Average trailing P/E is 23x in the Electronic industry in Taiwan. Total returns to shareholders of 138% over the past three years. New Risk • Nov 26
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 35% 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 9.2% per year over the past 5 years. Minor Risks Dividend is not well covered by earnings (129% payout ratio). Share price has been volatile over the past 3 months (7.3% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (7.2% net profit margin). Reported Earnings • Nov 08
Third quarter 2025 earnings released: EPS: NT$0.43 (vs NT$0.14 in 3Q 2024) Third quarter 2025 results: EPS: NT$0.43 (up from NT$0.14 in 3Q 2024). Revenue: NT$292.5m (flat on 3Q 2024). Net income: NT$34.4m (up 207% from 3Q 2024). Profit margin: 12% (up from 3.8% in 3Q 2024). 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 24% per year, which means it is well ahead of earnings. Upcoming Dividend • Sep 02
Upcoming dividend of NT$1.50 per share Eligible shareholders must have bought the stock before 09 September 2025. Payment date: 30 September 2025. The company is paying out more than 100% of its profits and is paying out 76% of its cash flow. Trailing yield: 2.4%. Lower than top quartile of Taiwanese dividend payers (5.3%). In line with average of industry peers (2.6%). New Risk • Aug 27
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 38% 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 6.5% per year over the past 5 years. Minor Risks Dividend is not well covered by earnings (171% payout ratio). Share price has been volatile over the past 3 months (7.0% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (5.4% net profit margin). Valuation Update With 7 Day Price Move • Aug 25
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$57.90, the stock trades at a trailing P/E ratio of 66.2x. Average trailing P/E is 23x in the Electronic industry in Taiwan. Total returns to shareholders of 114% over the past three years. Reported Earnings • Aug 09
Second quarter 2025 earnings released: NT$0.06 loss per share (vs NT$0.48 profit in 2Q 2024) Second quarter 2025 results: NT$0.06 loss per share (down from NT$0.48 profit in 2Q 2024). Revenue: NT$300.8m (down 16% from 2Q 2024). Net loss: NT$4.97m (down 113% from profit in 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has increased by 21% per year, which means it is well ahead of earnings. Announcement • Jun 19
Laser Tek Taiwan Co.,Ltd. Announces Board Changes, Effective June 18, 2025 Laser Tek Taiwan Co.,Ltd. announced the term expiry of Director:Shun-Chih Investment Corp. Representative: YANG, YIN (Business Vice President, LaserTek Taiwan Co. Ltd.), Director:Yong-Si Asset Management Co. Ltd. Representative: Yung-Lin, Chen (Chairman, Yong-Si Asset Management Co. Ltd.), Director: Yu-Ku, Chuang (Chairman, Taiwan Germagic Biochemical Technology Co.,), The company also announced the appointment of Director:Shun-Chih Investment Corp. Representative: Pei-Jyun, Wang (Supervisor, (Taiwan) Media Mlife International Co. Ltd.), Director: Meng-I, Huang (President, LaserTek Taiwan Co. Ltd.), Independent Director: Sin-Jhang, Fu Director and President, CITIC Securities CO. Ltd. Effective date of the new appointment is June 18, 2025. New Risk • Jun 18
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 8.7% 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 1.4% per year over the past 5 years. Minor Risks Dividend is not well covered by earnings (106% payout ratio). Share price has been volatile over the past 3 months (8.7% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (8.3% net profit margin). New Risk • Jun 02
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 25% 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 1.4% per year over the past 5 years. Minor Risks Dividend is not well covered by earnings (106% payout ratio). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (8.3% net profit margin). Reported Earnings • May 09
First quarter 2025 earnings released: EPS: NT$0.33 (vs NT$0.99 in 1Q 2024) First quarter 2025 results: EPS: NT$0.33 (down from NT$0.99 in 1Q 2024). Revenue: NT$278.9m (down 2.3% from 1Q 2024). Net income: NT$26.6m (down 66% from 1Q 2024). Profit margin: 9.5% (down from 28% in 1Q 2024). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has increased by 12% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Apr 29
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$43.85, the stock trades at a trailing P/E ratio of 21.2x. Average trailing P/E is 18x in the Electronic industry in Taiwan. Total returns to shareholders of 59% over the past three years. Announcement • Apr 27
Laser Tek Taiwan Co.,Ltd. to Report Q1, 2025 Results on May 06, 2025 Laser Tek Taiwan Co.,Ltd. announced that they will report Q1, 2025 results on May 06, 2025 New Risk • Apr 08
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: NT$3.07b (US$92.8m) 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. Share price has been volatile over the past 3 months (8.1% average weekly change). Market cap is less than US$100m (NT$3.07b market cap, or US$92.8m). Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to NT$38.50, the stock trades at a trailing P/E ratio of 18.6x. Average trailing P/E is 17x in the Electronic industry in Taiwan. Total returns to shareholders of 27% over the past three years. Reported Earnings • Mar 19
Full year 2024 earnings released: EPS: NT$2.07 (vs NT$1.84 in FY 2023) Full year 2024 results: EPS: NT$2.07 (up from NT$1.84 in FY 2023). Revenue: NT$1.36b (up 16% from FY 2023). Net income: NT$164.8m (up 12% from FY 2023). Profit margin: 12% (in line with FY 2023). Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Announcement • Mar 12
Laser Tek Taiwan Co.,Ltd., Annual General Meeting, Jun 18, 2025 Laser Tek Taiwan Co.,Ltd., Annual General Meeting, Jun 18, 2025. Location: 2 floor no,248-45, hsin sheng rd., cianjhen district, kaohsiung city Taiwan New Risk • Jan 24
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). Reported Earnings • Nov 18
Third quarter 2024 earnings released: EPS: NT$0.14 (vs NT$0.56 in 3Q 2023) Third quarter 2024 results: EPS: NT$0.14 (down from NT$0.56 in 3Q 2023). Revenue: NT$293.3m (down 12% from 3Q 2023). Net income: NT$11.2m (down 75% from 3Q 2023). Profit margin: 3.8% (down from 13% in 3Q 2023). Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has increased by 21% per year, which means it is well ahead of earnings. Buy Or Sell Opportunity • Nov 05
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 14% to NT$68.60. The fair value is estimated to be NT$57.10, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 11% over the last 3 years. Earnings per share has declined by 14%. New Risk • Oct 02
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 9.3% 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 (9.3% average weekly change). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Valuation Update With 7 Day Price Move • Sep 25
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$73.50, the stock trades at a trailing P/E ratio of 30.4x. Average trailing P/E is 23x in the Electronic industry in Taiwan. Total returns to shareholders of 177% over the past three years. Buy Or Sell Opportunity • Sep 25
Now 27% overvalued The stock has been flat over the last 90 days, currently trading at NT$73.50. The fair value is estimated to be NT$58.02, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 11% over the last 3 years. Earnings per share has declined by 14%. Reported Earnings • Aug 17
Second quarter 2024 earnings released: EPS: NT$0.48 (vs NT$0.28 in 2Q 2023) Second quarter 2024 results: EPS: NT$0.48 (up from NT$0.28 in 2Q 2023). Revenue: NT$357.1m (up 60% from 2Q 2023). Net income: NT$38.1m (up 69% from 2Q 2023). Profit margin: 11% (in line with 2Q 2023). 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 31% per year, which means it is well ahead of earnings. Buy Or Sell Opportunity • Aug 17
Now 29% overvalued after recent price rise Over the last 90 days, the stock has risen 10% to NT$74.90. The fair value is estimated to be NT$58.00, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 11% over the last 3 years. Earnings per share has declined by 14%. Valuation Update With 7 Day Price Move • Aug 07
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to NT$55.60, the stock trades at a trailing P/E ratio of 25x. Average trailing P/E is 21x in the Electronic industry in Taiwan. Total returns to shareholders of 99% over the past three years. Announcement • Jul 30
Laser Tek Taiwan Co.,Ltd. to Report Q2, 2024 Results on Aug 06, 2024 Laser Tek Taiwan Co.,Ltd. announced that they will report Q2, 2024 results on Aug 06, 2024 Valuation Update With 7 Day Price Move • Jul 05
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to NT$86.00, the stock trades at a trailing P/E ratio of 38.7x. Average trailing P/E is 25x in the Electronic industry in Taiwan. Total returns to shareholders of 218% over the past three years. Upcoming Dividend • Jun 14
Upcoming dividend of NT$1.50 per share Eligible shareholders must have bought the stock before 21 June 2024. Payment date: 26 July 2024. Payout ratio is a comfortable 68% and this is well supported by cash flows. Trailing yield: 2.0%. Lower than top quartile of Taiwanese dividend payers (4.2%). Lower than average of industry peers (2.7%). Reported Earnings • May 19
First quarter 2024 earnings released: EPS: NT$0.99 (vs NT$0.61 in 1Q 2023) First quarter 2024 results: EPS: NT$0.99 (up from NT$0.61 in 1Q 2023). Revenue: NT$285.4m (up 29% from 1Q 2023). Net income: NT$78.6m (up 63% from 1Q 2023). Profit margin: 28% (up from 22% in 1Q 2023). Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 33% per year, which means it is well ahead of earnings. Announcement • May 01
Laser Tek Taiwan Co.,Ltd. to Report Q1, 2024 Results on May 08, 2024 Laser Tek Taiwan Co.,Ltd. announced that they will report Q1, 2024 results on May 08, 2024 Valuation Update With 7 Day Price Move • Apr 29
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to NT$65.20, the stock trades at a trailing P/E ratio of 33.7x. Average trailing P/E is 24x in the Electronic industry in Taiwan. Total returns to shareholders of 112% over the past three years. Valuation Update With 7 Day Price Move • Apr 02
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$47.55, the stock trades at a trailing P/E ratio of 24.6x. Average trailing P/E is 24x in the Electronic industry in Taiwan. Total returns to shareholders of 52% over the past three years. New Risk • Apr 02
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 26% 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 7.6% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Announcement • Mar 30
Laser Tek Taiwan Co.,Ltd., Annual General Meeting, Jun 19, 2024 Laser Tek Taiwan Co.,Ltd., Annual General Meeting, Jun 19, 2024. Location: 2F., No.248-45, Xinsheng Rd., Qianzhen District Kaohsiung City Taiwan Agenda: To consider and approve the Business report 2023; to consider and approve the audit committee review report; to consider and approve the employee and director distribution report; to consider and approve the earning distribution; to consider and approve the financial statements; and to consider and approve any other matters. Reported Earnings • Mar 27
Full year 2023 earnings released: EPS: NT$1.84 (vs NT$1.82 in FY 2022) Full year 2023 results: EPS: NT$1.84. Revenue: NT$1.18b (down 15% from FY 2022). Net income: NT$146.6m (down 2.6% from FY 2022). Profit margin: 12% (up from 11% in FY 2022). The increase in margin was driven by lower expenses. New Risk • Nov 22
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 39% 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 9.9% per year over the past 5 years. Minor Risks Dividend is not well covered by earnings (110% payout ratio). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (9.7% net profit margin). Market cap is less than US$100m (NT$2.28b market cap, or US$72.6m). New Risk • Aug 11
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 34% 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 9.3% per year over the past 5 years. Minor Risks Dividend is not well covered by earnings (102% payout ratio). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (10% net profit margin). Market cap is less than US$100m (NT$2.37b market cap, or US$74.6m). Reported Earnings • Aug 11
Second quarter 2023 earnings released: EPS: NT$0.28 (vs NT$0.71 in 2Q 2022) Second quarter 2023 results: EPS: NT$0.28 (down from NT$0.71 in 2Q 2022). Revenue: NT$223.1m (down 39% from 2Q 2022). Net income: NT$22.6m (down 60% from 2Q 2022). Profit margin: 10% (down from 16% in 2Q 2022). Revenue is forecast to grow 18% p.a. on average during the next 2 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 3% per year but the company’s share price has increased by 9% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Jul 07
Upcoming dividend of NT$1.50 per share at 4.9% yield Eligible shareholders must have bought the stock before 14 July 2023. Payment date: 08 August 2023. Payout ratio is on the higher end at 80%, however this is supported by cash flows. Trailing yield: 4.9%. Lower than top quartile of Taiwanese dividend payers (5.4%). Higher than average of industry peers (4.2%). Upcoming Dividend • Nov 03
Upcoming dividend of NT$0.50 per share Eligible shareholders must have bought the stock before 10 November 2022. Payment date: 28 November 2022. Payout ratio is a comfortable 50% and this is well supported by cash flows. Trailing yield: 5.7%. Lower than top quartile of Taiwanese dividend payers (7.3%). Higher than average of industry peers (4.8%). Reported Earnings • Aug 15
Second quarter 2022 earnings released: EPS: NT$0.68 (vs NT$0.86 in 2Q 2021) Second quarter 2022 results: EPS: NT$0.68 (down from NT$0.86 in 2Q 2021). Revenue: NT$367.3m (down 16% from 2Q 2021). Net income: NT$56.8m (down 21% from 2Q 2021). Profit margin: 16% (down from 17% in 2Q 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jul 26
Upcoming dividend of NT$1.50 per share Eligible shareholders must have bought the stock before 02 August 2022. Payment date: 30 August 2022. Payout ratio is a comfortable 47% and this is well supported by cash flows. Trailing yield: 5.6%. Lower than top quartile of Taiwanese dividend payers (6.6%). Higher than average of industry peers (4.6%). Reported Earnings • May 16
First quarter 2022 earnings released: EPS: NT$0.54 (vs NT$0.41 in 1Q 2021) First quarter 2022 results: EPS: NT$0.54 (up from NT$0.41 in 1Q 2021). Revenue: NT$325.5m (down 5.0% from 1Q 2021). Net income: NT$45.3m (up 34% from 1Q 2021). Profit margin: 14% (up from 9.9% in 1Q 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has increased by 1% per year. Announcement • Apr 07
Laser Tek Taiwan Co.,Ltd, Annual General Meeting, Jun 24, 2022 Laser Tek Taiwan Co.,Ltd, Annual General Meeting, Jun 24, 2022. Reported Earnings • Mar 28
Full year 2021 earnings released: EPS: NT$3.07 (vs NT$1.55 in FY 2020) Full year 2021 results: EPS: NT$3.07 (up from NT$1.55 in FY 2020). Revenue: NT$1.75b (up 43% from FY 2020). Net income: NT$257.3m (up 98% from FY 2020). Profit margin: 15% (up from 11% in FY 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Dec 27
Investor sentiment improved over the past week After last week's 15% share price gain to NT$39.85, the stock trades at a trailing P/E ratio of 16.2x. Average trailing P/E is 18x in the Electronic industry in Taiwan. Total returns to shareholders of 66% over the past three years. Reported Earnings • Nov 12
Third quarter 2021 earnings released: EPS NT$0.98 (vs NT$0.27 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$485.7m (up 67% from 3Q 2020). Net income: NT$82.1m (up 267% from 3Q 2020). Profit margin: 17% (up from 7.7% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Upcoming Dividend • Aug 24
Upcoming dividend of NT$1.50 per share Eligible shareholders must have bought the stock before 31 August 2021. Payment date: 17 September 2021. Trailing yield: 4.7%. Lower than top quartile of Taiwanese dividend payers (5.3%). Higher than average of industry peers (3.2%). Reported Earnings • Aug 18
Second quarter 2021 earnings released: EPS NT$0.86 (vs NT$0.77 in 2Q 2020) The company reported a solid second quarter result with improved earnings and revenues, although profit margins were weaker. Second quarter 2021 results: Revenue: NT$434.6m (up 22% from 2Q 2020). Net income: NT$72.1m (up 12% from 2Q 2020). Profit margin: 17% (down from 18% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Reported Earnings • May 16
First quarter 2021 earnings released: EPS NT$0.40 (vs NT$0.31 in 1Q 2020) The company reported a solid first quarter result with improved earnings and revenues, although profit margins were flat. First quarter 2021 results: Revenue: NT$342.5m (up 36% from 1Q 2020). Net income: NT$33.9m (up 32% from 1Q 2020). Profit margin: 9.9% (in line with 1Q 2020). Over the last 3 years on average, earnings per share has fallen by 30% 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. Valuation Update With 7 Day Price Move • May 14
Investor sentiment deteriorated over the past week After last week's 15% share price decline to NT$27.30, the stock trades at a trailing P/E ratio of 17.6x. Average forward P/E is 11x in the Electronic industry in Taiwan. Total returns to shareholders of 5.3% over the past three years. Reported Earnings • Mar 31
Full year 2020 earnings released: EPS NT$1.55 (vs NT$1.40 in FY 2019) The company reported a solid full year result with improved earnings and revenues, although profit margins were flat. Full year 2020 results: Revenue: NT$1.22b (up 13% from FY 2019). Net income: NT$130.1m (up 11% from FY 2019). Profit margin: 11% (in line with FY 2019). Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Dec 09
Market bids up stock over the past week After last week's 20% share price gain to NT$30.70, the stock is trading at a trailing P/E ratio of 15.6x, up from the previous P/E ratio of 13x. This compares to an average P/E of 17x in the Electronic industry in Taiwan. Total returns to shareholders over the past three years are 31%. Is New 90 Day High Low • Dec 09
New 90-day high: NT$27.95 The company is up 8.0% from its price of NT$26.00 on 10 September 2020. The Taiwanese market is up 13% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 12% over the same period. Reported Earnings • Nov 15
Third quarter 2020 earnings released: EPS NT$0.27 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: NT$291.4m (up 17% from 3Q 2019). Net income: NT$22.4m (up 34% from 3Q 2019). Profit margin: 7.7% (up from 6.7% in 3Q 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings.