Reported Earnings • Aug 14
Second quarter 2026 earnings released: EPS: NT$1.86 (vs NT$0.34 loss in 2Q 2025) Second quarter 2026 results: EPS: NT$1.86 (up from NT$0.34 loss in 2Q 2025). Revenue: NT$37.6b (up 32% from 2Q 2025). Net income: NT$917.9m (up NT$1.08b from 2Q 2025). Profit margin: 2.4% (up from net loss in 2Q 2025). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 16% per year whereas the company’s share price has increased by 19% per year. Upcoming Dividend • Jul 30
Upcoming dividend of NT$1.92 per share Eligible shareholders must have bought the stock before 06 August 2026. Payment date: 03 September 2026. Payout ratio is on the higher end at 79%, however this is supported by cash flows. Trailing yield: 4.9%. Lower than top quartile of Taiwanese dividend payers (5.2%). Higher than average of industry peers (1.7%). Valuation Update With 7 Day Price Move • Jul 30
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to NT$42.40, the stock trades at a trailing P/E ratio of 16.1x. Average trailing P/E is 29x in the Electronic industry in Taiwan. Total returns to shareholders of 60% over the past three years. Declared Dividend • Jul 16
Dividend reduced to NT$2.08 Dividend of NT$2.08 is 0.2% lower than last year. Ex-date: 6th August 2026 Payment date: 3rd September 2026 Dividend yield will be 3.9%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by both earnings (79% earnings payout ratio) and cash flows (30% cash payout ratio). The dividend has increased by an average of 4.3% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 1.8% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Valuation Update With 7 Day Price Move • May 20
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to NT$51.40, the stock trades at a trailing P/E ratio of 19.5x. Average trailing P/E is 34x in the Electronic industry in Taiwan. Total returns to shareholders of 106% over the past three years. Reported Earnings • May 07
First quarter 2026 earnings released: EPS: NT$1.00 (vs NT$0.68 in 1Q 2025) First quarter 2026 results: EPS: NT$1.00 (up from NT$0.68 in 1Q 2025). Revenue: NT$30.9b (up 20% from 1Q 2025). Net income: NT$727.9m (up 125% from 1Q 2025). Profit margin: 2.4% (up from 1.3% in 1Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • May 06
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to NT$42.40, the stock trades at a trailing P/E ratio of 23.6x. Average trailing P/E is 30x in the Electronic industry in Taiwan. Total returns to shareholders of 70% over the past three years. Valuation Update With 7 Day Price Move • Mar 20
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to NT$35.80, the stock trades at a trailing P/E ratio of 19.9x. Average trailing P/E is 25x in the Electronic industry in Taiwan. Total returns to shareholders of 46% over the past three years. Announcement • Mar 16
Weikeng Industrial Co., Ltd., Annual General Meeting, Jun 18, 2026 Weikeng Industrial Co., Ltd., Annual General Meeting, Jun 18, 2026, at 09:00 Taipei Standard Time. Location: no,32 ln.266, sec.2 chih shan rd., shihlin district, taipei city Taiwan New Risk • Mar 14
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 131% Cash payout ratio: 138% Dividend yield: 6.9% 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 Interest payments are not well covered by earnings (1.8x net interest cover). Dividend is not well covered by earnings and cash flows. Payout ratio: 131% Cash payout ratio: 138% Earnings have declined by 9.0% per year over the past 5 years. Minor Risk Profit margins are more than 30% lower than last year (0.8% net profit margin). Reported Earnings • Mar 14
Full year 2025 earnings released: EPS: NT$1.81 (vs NT$2.56 in FY 2024) Full year 2025 results: EPS: NT$1.81 (down from NT$2.56 in FY 2024). Revenue: NT$108.7b (up 21% from FY 2024). Net income: NT$864.1m (down 24% from FY 2024). Profit margin: 0.8% (down from 1.3% in FY 2024). The decrease in margin was 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 1% per year, which means it is well ahead of earnings. Buy Or Sell Opportunity • Jan 08
Now 23% undervalued Over the last 90 days, the stock has risen 5.4% to NT$31.50. The fair value is estimated to be NT$40.74, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has declined by 24%. Reported Earnings • Nov 17
Third quarter 2025 earnings released: EPS: NT$0.69 (vs NT$0.76 in 3Q 2024) Third quarter 2025 results: EPS: NT$0.69 (down from NT$0.76 in 3Q 2024). Revenue: NT$26.4b (up 10% from 3Q 2024). Net income: NT$329.0m (down 5.1% from 3Q 2024). Profit margin: 1.2% (down from 1.4% in 3Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Reported Earnings • Aug 14
Second quarter 2025 earnings released: NT$0.34 loss per share (vs NT$0.84 profit in 2Q 2024) Second quarter 2025 results: NT$0.34 loss per share (down from NT$0.84 profit in 2Q 2024). Revenue: NT$28.5b (up 26% from 2Q 2024). Net loss: NT$162.1m (down 145% from profit in 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Upcoming Dividend • Aug 04
Upcoming dividend of NT$2.08 per share Eligible shareholders must have bought the stock before 11 August 2025. Payment date: 11 September 2025. Payout ratio is a comfortable 74% but the company is not cash flow positive. Trailing yield: 6.0%. Within top quartile of Taiwanese dividend payers (5.3%). Higher than average of industry peers (2.8%). Reported Earnings • May 14
First quarter 2025 earnings released: EPS: NT$0.68 (vs NT$0.40 in 1Q 2024) First quarter 2025 results: EPS: NT$0.68 (up from NT$0.40 in 1Q 2024). Revenue: NT$25.8b (up 40% from 1Q 2024). Net income: NT$322.7m (up 91% from 1Q 2024). Profit margin: 1.3% (up from 0.9% in 1Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Announcement • Apr 29
Weikeng Industrial Co., Ltd. to Report Q1, 2025 Results on May 06, 2025 Weikeng Industrial Co., Ltd. announced that they will report Q1, 2025 results on May 06, 2025 Valuation Update With 7 Day Price Move • Apr 09
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to NT$28.30, the stock trades at a trailing P/E ratio of 11.8x. Average trailing P/E is 16x in the Electronic industry in Taiwan. Total returns to shareholders of 16% over the past three years. Reported Earnings • Mar 14
Full year 2024 earnings released: EPS: NT$2.56 (vs NT$1.85 in FY 2023) Full year 2024 results: EPS: NT$2.56 (up from NT$1.85 in FY 2023). Revenue: NT$89.7b (up 27% from FY 2023). Net income: NT$1.14b (up 45% from FY 2023). Profit margin: 1.3% (up from 1.1% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Announcement • Mar 07
Weikeng Industrial Co., Ltd., Annual General Meeting, Jun 20, 2025 Weikeng Industrial Co., Ltd., Annual General Meeting, Jun 20, 2025. Location: no,32 ln.266, sec.2 chih shan rd., shihlin district, taipei city Taiwan Buy Or Sell Opportunity • Mar 07
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 2.6% to NT$35.80. The fair value is estimated to be NT$29.72, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 3.0% over the last 3 years. Earnings per share has declined by 32%. Announcement • Feb 27
Weikeng Industrial Co., Ltd. to Report Q4, 2024 Results on Mar 06, 2025 Weikeng Industrial Co., Ltd. announced that they will report Q4, 2024 results on Mar 06, 2025 New Risk • Nov 24
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 8.0% 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: Major Risk Interest payments are not well covered by earnings (2.2x net interest cover). Minor Risks Paying a dividend despite having no free cash flows. Shareholders have been diluted in the past year (8.0% increase in shares outstanding). Reported Earnings • Nov 17
Third quarter 2024 earnings released: EPS: NT$0.76 (vs NT$0.59 in 3Q 2023) Third quarter 2024 results: EPS: NT$0.76 (up from NT$0.59 in 3Q 2023). Revenue: NT$24.0b (up 29% from 3Q 2023). Net income: NT$346.7m (up 37% from 3Q 2023). Profit margin: 1.4% (in line with 3Q 2023). Over the last 3 years on average, earnings per share has fallen by 32% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Announcement • Nov 02
Weikeng Industrial Co., Ltd. to Report Q3, 2024 Results on Nov 12, 2024 Weikeng Industrial Co., Ltd. announced that they will report Q3, 2024 results on Nov 12, 2024 New Risk • Aug 31
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 5.7% 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: Major Risk Interest payments are not well covered by earnings (2.3x net interest cover). Minor Risks Paying a dividend despite having no free cash flows. Shareholders have been diluted in the past year (5.7% increase in shares outstanding). Reported Earnings • Aug 16
Second quarter 2024 earnings released: EPS: NT$0.84 (vs NT$0.32 in 2Q 2023) Second quarter 2024 results: EPS: NT$0.84 (up from NT$0.32 in 2Q 2023). Revenue: NT$22.5b (up 29% from 2Q 2023). Net income: NT$361.0m (up 166% from 2Q 2023). Profit margin: 1.6% (up from 0.8% in 2Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings. Announcement • Aug 06
Weikeng Industrial Co., Ltd. to Report Q2, 2024 Results on Aug 13, 2024 Weikeng Industrial Co., Ltd. announced that they will report Q2, 2024 results on Aug 13, 2024 Declared Dividend • Jul 01
Dividend of NT$2.03 announced Shareholders will receive a dividend of NT$2.03. Ex-date: 26th July 2024 Payment date: 30th August 2024 Dividend yield will be 5.5%, which is higher than the industry average of 4.0%. Sustainability & Growth Dividend is not covered by earnings (110% 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 2.2% 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 23% to bring the payout ratio under control, which is more than the 5.5% EPS growth achieved over the last 5 years. Buy Or Sell Opportunity • May 13
Now 20% undervalued Over the last 90 days, the stock has risen 14% to NT$35.25. The fair value is estimated to be NT$44.13, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 19%. Reported Earnings • May 12
First quarter 2024 earnings released: EPS: NT$0.39 (vs NT$0.40 in 1Q 2023) First quarter 2024 results: EPS: NT$0.39 (down from NT$0.40 in 1Q 2023). Revenue: NT$18.4b (up 12% from 1Q 2023). Net income: NT$168.9m (flat on 1Q 2023). Profit margin: 0.9% (down from 1.0% in 1Q 2023). The decrease in margin was driven by higher expenses. 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 18% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • May 06
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$39.30, the stock trades at a trailing P/E ratio of 21.4x. Average trailing P/E is 24x in the Electronic industry in Taiwan. Total returns to shareholders of 114% over the past three years. Announcement • Apr 28
Weikeng Industrial Co., Ltd. to Report Q1, 2024 Results on May 06, 2024 Weikeng Industrial Co., Ltd. announced that they will report Q1, 2024 results at 9:00 AM, Taipei Standard Time on May 06, 2024 Reported Earnings • Mar 14
Full year 2023 earnings released: EPS: NT$1.85 (vs NT$4.03 in FY 2022) Full year 2023 results: EPS: NT$1.85 (down from NT$4.03 in FY 2022). Revenue: NT$70.9b (flat on FY 2022). Net income: NT$786.8m (down 54% from FY 2022). Profit margin: 1.1% (down from 2.4% in FY 2022). 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 13% per year, which means it is well ahead of earnings. Announcement • Mar 12
Weikeng Industrial Co., Ltd., Annual General Meeting, Jun 20, 2024 Weikeng Industrial Co., Ltd., Annual General Meeting, Jun 20, 2024. Location: Chin-Chin Garden Restaurant (No.32, Ln. 266, Sec. 2, Zhishan Rd., Shilin Dist., Taipei City 111, Taiwan) Taipei City Taiwan Agenda: To discuss 2023 Business Report & Report to Shareholders; to discuss 2023 Financial Reports as Reviewed by the Audit Committee; to discuss Report on the financial and business matters between the Company and its related parties in 2023; to discuss Report on the Company implementation of the 6th domestic unsecured convertible corporate bonds; to discuss Report on the remuneration distribution of employees and directors for 2023; and to discuss other matters. Buy Or Sell Opportunity • Jan 30
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 17% to NT$31.35. The fair value is estimated to be NT$26.05, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 6.0% over the last 3 years. Earnings per share has grown by 8.2%. New Risk • Aug 15
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: 1.4% Last year net profit margin: 2.8% 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: Major Risks Interest payments are not well covered by earnings (2.8x net interest cover). Dividend is not well covered by earnings and cash flows. Payout ratio: 136% Paying a dividend despite having no free cash flows. Minor Risk Profit margins are more than 30% lower than last year (1.4% net profit margin). Reported Earnings • Aug 15
Second quarter 2023 earnings released: EPS: NT$0.32 (vs NT$1.29 in 2Q 2022) Second quarter 2023 results: EPS: NT$0.32 (down from NT$1.29 in 2Q 2022). Revenue: NT$17.5b (flat on 2Q 2022). Net income: NT$135.6m (down 75% from 2Q 2022). Profit margin: 0.8% (down from 3.1% in 2Q 2022). Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Aug 03
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to NT$29.70, the stock trades at a trailing P/E ratio of 9.2x. Average trailing P/E is 18x in the Electronic industry in Taiwan. Total returns to shareholders of 118% over the past three years. Upcoming Dividend • Jul 26
Upcoming dividend of NT$3.07 per share at 8.8% yield Eligible shareholders must have bought the stock before 02 August 2023. Payment date: 01 September 2023. Payout ratio is on the higher end at 96% but the company is not cash flow positive. Trailing yield: 8.8%. Within top quartile of Taiwanese dividend payers (5.4%). Higher than average of industry peers (4.1%). New Risk • Jul 05
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 96% The company is paying a dividend despite having no free cash flows. Dividend yield: 9.1% 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 Debt is not well covered by operating cash flow (currently running at an operating cash loss). Dividend is not well covered by earnings and cash flows. Payout ratio: 96% Paying a dividend despite having no free cash flows. High level of non-cash earnings (26% accrual ratio). Announcement • Jul 01
Weikeng Industrial Co., Ltd. Approves Cash Dividend, Payable on September 1, 2023 Weikeng Industrial Co., Ltd. announced at shareholders meeting held on June 30, 2023, approved cash dividend of TWD 1,312,988,000. Ex-rights (ex-dividend) trading date is August 2, 2023. Ex-rights (ex-dividend) record date is August 8, 2023. Payment date of cash dividend distribution is September 1, 2023. Reported Earnings • Mar 17
Full year 2022 earnings released: EPS: NT$4.03 (vs NT$4.54 in FY 2021) Full year 2022 results: EPS: NT$4.03 (down from NT$4.54 in FY 2021). Revenue: NT$70.3b (down 2.9% from FY 2021). Net income: NT$1.70b (down 1.3% from FY 2021). Profit margin: 2.4% (in line with FY 2021). Over the last 3 years on average, earnings per share has increased by 53% per year but the company’s share price has only increased by 35% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Feb 13
Now 20% undervalued Over the last 90 days, the stock is up 1.7%. The fair value is estimated to be NT$33.94, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 63%. Reported Earnings • Nov 16
Third quarter 2022 earnings released: EPS: NT$0.88 (vs NT$1.42 in 3Q 2021) Third quarter 2022 results: EPS: NT$0.88 (down from NT$1.42 in 3Q 2021). Revenue: NT$18.2b (down 7.0% from 3Q 2021). Net income: NT$372.5m (down 30% from 3Q 2021). Profit margin: 2.0% (down from 2.7% in 3Q 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 63% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Board Change • Nov 16
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 4 experienced directors. 5 highly experienced directors. 3 independent directors (5 non-independent directors). Independent Director Peggy Yu was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Aug 13
Second quarter 2022 earnings released: EPS: NT$1.29 (vs NT$1.24 in 2Q 2021) Second quarter 2022 results: EPS: NT$1.29 (up from NT$1.24 in 2Q 2021). Revenue: NT$17.4b (down 6.7% from 2Q 2021). Net income: NT$542.9m (up 19% from 2Q 2021). Profit margin: 3.1% (up from 2.4% in 2Q 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 67% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jul 18
Upcoming dividend of NT$3.01 per share Eligible shareholders must have bought the stock before 25 July 2022. Payment date: 25 August 2022. Payout ratio is a comfortable 61% but the company is paying out more than the cash it is generating. Trailing yield: 11%. Within top quartile of Taiwanese dividend payers (6.8%). Higher than average of industry peers (4.7%). Announcement • Jun 29
Weikeng Industrial Co., Ltd. Announces Cash Dividend for the Year 2021, Payable on August 25, 2022 Weikeng Industrial Co., Ltd. announced dividend distribution of TWD 1,270,232,000 for the year 2021. Ex-rights (ex-dividend) trading date is July 25, 2022. Ex-rights (ex-dividend) record date is July 31, 2022. The cash dividends are scheduled to be paid on August 25, 2022. 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. 4 experienced directors. 5 highly experienced directors. 3 independent directors (4 non-independent directors). Independent Director Peggy Yu was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Mar 28
Full year 2021 earnings released: EPS: NT$4.54 (vs NT$1.90 in FY 2020) Full year 2021 results: EPS: NT$4.54 (up from NT$1.90 in FY 2020). Revenue: NT$72.4b (up 24% from FY 2020). Net income: NT$1.72b (up 146% from FY 2020). Profit margin: 2.4% (up from 1.2% in FY 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 52% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 15
Third quarter 2021 earnings released: EPS NT$1.42 (vs NT$0.64 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$19.6b (up 13% from 3Q 2020). Net income: NT$531.7m (up 127% from 3Q 2020). Profit margin: 2.7% (up from 1.4% 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 32% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Sep 13
Investor sentiment improved over the past week After last week's 16% share price gain to NT$27.65, the stock trades at a trailing P/E ratio of 9x. Average trailing P/E is 16x in the Electronic industry in Taiwan. Total returns to shareholders of 63% over the past three years. Reported Earnings • Aug 15
Second quarter 2021 earnings released: EPS NT$1.24 (vs NT$0.55 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: NT$18.7b (up 34% from 2Q 2020). Net income: NT$455.3m (up 123% from 2Q 2020). Profit margin: 2.4% (up from 1.5% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jul 19
Upcoming dividend of NT$1.33 per share Eligible shareholders must have bought the stock before 26 July 2021. Payment date: 20 August 2021. Trailing yield: 5.3%. Within top quartile of Taiwanese dividend payers (4.9%). Higher than average of industry peers (2.9%). Reported Earnings • May 15
First quarter 2021 earnings released: EPS NT$0.75 (vs NT$0.25 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$15.8b (up 37% from 1Q 2020). Net income: NT$274.1m (up 202% from 1Q 2020). Profit margin: 1.7% (up from 0.8% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Reported Earnings • Mar 30
Full year 2020 earnings released: EPS NT$1.90 (vs NT$0.44 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$58.4b (up 21% from FY 2019). Net income: NT$699.3m (up 169% from FY 2019). Profit margin: 1.2% (up from 0.5% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Mar 11
New 90-day high: NT$19.80 The company is up 3.0% from its price of NT$19.25 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 Electronic industry, which is up 13% over the same period. Is New 90 Day High Low • Nov 26
New 90-day high: NT$19.20 The company is up 7.0% from its price of NT$18.00 on 28 August 2020. The Taiwanese market is also up 7.0% over the last 90 days, indicating the company’s price trend is similar to the market over that time. However, it outperformed the Electronic industry, which is up 4.0% over the same period. Reported Earnings • Nov 14
Third quarter 2020 earnings released: EPS NT$0.64 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: NT$17.3b (up 32% from 3Q 2019). Net income: NT$234.6m (up 228% from 3Q 2019). Profit margin: 1.4% (up from 0.5% 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 28% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings.