New Risk • Jul 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 9.2% 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. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Jul 17
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to NT$517, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 20x in the Electronic industry in Taiwan. Total returns to shareholders of 49% over the past three years. Valuation Update With 7 Day Price Move • Jun 29
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to NT$657, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 24x in the Electronic industry in Taiwan. Total returns to shareholders of 86% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$1,291 per share. Valuation Update With 7 Day Price Move • Jun 04
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$659, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 24x in the Electronic industry in Taiwan. Total returns to shareholders of 87% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$1,285 per share. Upcoming Dividend • Jun 01
Upcoming dividend of NT$17.00 per share Eligible shareholders must have bought the stock before 08 June 2026. Payment date: 08 July 2026. Payout ratio is a comfortable 52% and this is well supported by cash flows. Trailing yield: 2.8%. Lower than top quartile of Taiwanese dividend payers (5.0%). Higher than average of industry peers (1.2%). Reported Earnings • May 19
First quarter 2026 earnings: EPS exceeds analyst expectations First quarter 2026 results: EPS: NT$7.90 (up from NT$7.74 in 1Q 2025). Revenue: NT$6.14b (up 15% from 1Q 2025). Net income: NT$890.9m (up 2.1% from 1Q 2025). Profit margin: 14% (down from 16% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 9.8%. Revenue is forecast to grow 4.4% p.a. on average during the next 3 years, compared to a 24% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has increased by 12% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • May 15
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$591, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 20x in the Electronic industry in Taiwan. Total returns to shareholders of 67% over the past three years. Valuation Update With 7 Day Price Move • Apr 14
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$518, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 21x in the Electronic industry in Taiwan. Total returns to shareholders of 46% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$813 per share. Announcement • Mar 13
Genius Electronic Optical Co.,Ltd., Annual General Meeting, May 29, 2026 Genius Electronic Optical Co.,Ltd., Annual General Meeting, May 29, 2026. Location: no,306, hou chuang rd., pei tun district, taichung city Taiwan Reported Earnings • Mar 13
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: EPS: NT$32.84 (down from NT$38.35 in FY 2024). Revenue: NT$25.0b (up 7.8% from FY 2024). Net income: NT$3.70b (down 14% from FY 2024). Profit margin: 15% (down from 19% in FY 2024). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 2.0%. Earnings per share (EPS) also surpassed analyst estimates by 4.3%. Revenue is forecast to grow 3.9% p.a. on average during the next 2 years, compared to a 19% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 8% per year whereas the company’s share price has increased by 3% per year. Price Target Changed • Dec 09
Price target increased by 7.3% to NT$486 Up from NT$453, the current price target is an average from 6 analysts. New target price is 9.2% above last closing price of NT$445. Stock is down 1.3% over the past year. The company is forecast to post earnings per share of NT$31.27 for next year compared to NT$38.35 last year. Reported Earnings • Nov 17
Third quarter 2025 earnings: EPS and revenues exceed analyst expectations Third quarter 2025 results: EPS: NT$12.54 (up from NT$12.22 in 3Q 2024). Revenue: NT$7.74b (up 3.3% from 3Q 2024). Net income: NT$1.41b (up 2.6% from 3Q 2024). Profit margin: 18% (in line with 3Q 2024). Revenue exceeded analyst estimates by 4.5%. Earnings per share (EPS) also surpassed analyst estimates by 9.9%. Revenue is forecast to grow 6.3% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 8% per year whereas the company’s share price has increased by 5% per year. Reported Earnings • Aug 14
Second quarter 2025 earnings: EPS and revenues miss analyst expectations Second quarter 2025 results: EPS: NT$2.13 (down from NT$8.87 in 2Q 2024). Revenue: NT$4.78b (down 4.2% from 2Q 2024). Net income: NT$240.0m (down 76% from 2Q 2024). Profit margin: 5.0% (down from 20% in 2Q 2024). The decrease in margin was primarily driven by higher expenses. Revenue missed analyst estimates by 3.8%. Earnings per share (EPS) also missed analyst estimates by 63%. Revenue is forecast to grow 5.9% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Electronic 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 only increased by 1% per year, which means it is significantly lagging earnings growth. Major Estimate Revision • Aug 13
Consensus EPS estimates fall by 11%, revenue upgraded The consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast increased from NT$23.6b to NT$24.3b. EPS estimate fell from NT$32.59 to NT$28.96 per share. Net income forecast to shrink 17% next year vs 19% growth forecast for Electronic industry in Taiwan . Consensus price target of NT$429 unchanged from last update. Share price was steady at NT$435 over the past week. Price Target Changed • May 16
Price target decreased by 8.4% to NT$440 Down from NT$481, the current price target is an average from 7 analysts. New target price is 11% above last closing price of NT$395. Stock is down 25% over the past year. The company is forecast to post earnings per share of NT$30.09 for next year compared to NT$38.35 last year. Reported Earnings • May 14
First quarter 2025 earnings: EPS and revenues exceed analyst expectations First quarter 2025 results: EPS: NT$7.74 (down from NT$9.65 in 1Q 2024). Revenue: NT$5.32b (up 1.6% from 1Q 2024). Net income: NT$872.3m (down 20% from 1Q 2024). Profit margin: 16% (down from 21% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 2.5%. Earnings per share (EPS) also surpassed analyst estimates by 18%. Revenue is forecast to grow 5.7% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Announcement • May 06
Genius Electronic Optical Co.,Ltd. to Report Q1, 2025 Results on May 13, 2025 Genius Electronic Optical Co.,Ltd. announced that they will report Q1, 2025 results on May 13, 2025 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$335, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 13x in the Electronic industry in Taiwan. Total loss to shareholders of 18% over the past three years. Reported Earnings • Mar 13
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: EPS: NT$38.35 (up from NT$27.25 in FY 2023). Revenue: NT$23.2b (up 7.0% from FY 2023). Net income: NT$4.32b (up 41% from FY 2023). Profit margin: 19% (up from 14% in FY 2023). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 4.7%. Earnings per share (EPS) also missed analyst estimates by 5.7%. Revenue is forecast to grow 6.2% p.a. on average during the next 2 years, compared to a 14% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Announcement • Mar 11
Genius Electronic Optical Co.,Ltd., Annual General Meeting, Jun 17, 2025 Genius Electronic Optical Co.,Ltd., Annual General Meeting, Jun 17, 2025, at 09:00 Taipei Standard Time. Location: no,306, hou chuang rd., pei tun district, taichung city Taiwan Announcement • Mar 01
Genius Electronic Optical Co.,Ltd. to Report Q4, 2024 Results on Mar 07, 2025 Genius Electronic Optical Co.,Ltd. announced that they will report Q4, 2024 results on Mar 07, 2025 Price Target Changed • Nov 23
Price target decreased by 7.4% to NT$528 Down from NT$570, the current price target is an average from 8 analysts. New target price is 20% above last closing price of NT$441. Stock is up 9.7% over the past year. The company is forecast to post earnings per share of NT$40.68 for next year compared to NT$27.25 last year. Reported Earnings • Nov 15
Third quarter 2024 earnings: EPS and revenues miss analyst expectations Third quarter 2024 results: EPS: NT$12.22 (down from NT$13.92 in 3Q 2023). Revenue: NT$7.49b (down 15% from 3Q 2023). Net income: NT$1.38b (down 12% from 3Q 2023). Profit margin: 18% (in line with 3Q 2023). Revenue missed analyst estimates by 3.5%. Earnings per share (EPS) also missed analyst estimates by 2.2%. Revenue is forecast to grow 4.7% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Announcement • Nov 05
Genius Electronic Optical Co.,Ltd. to Report Q3, 2024 Results on Nov 12, 2024 Genius Electronic Optical Co.,Ltd. announced that they will report Q3, 2024 results on Nov 12, 2024 Reported Earnings • Aug 17
Second quarter 2024 earnings: EPS and revenues exceed analyst expectations Second quarter 2024 results: EPS: NT$8.87 (up from NT$0.99 in 2Q 2023). Revenue: NT$4.99b (up 87% from 2Q 2023). Net income: NT$999.7m (up NT$887.7m from 2Q 2023). Profit margin: 20% (up from 4.2% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 13%. Earnings per share (EPS) also surpassed analyst estimates by 103%. Revenue is forecast to grow 4.7% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. New Risk • Aug 14
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 1.0% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 1.0% per year for the foreseeable future. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Announcement • Aug 06
Genius Electronic Optical Co.,Ltd. to Report Q2, 2024 Results on Aug 13, 2024 Genius Electronic Optical Co.,Ltd. announced that they will report Q2, 2024 results on Aug 13, 2024 New Risk • Aug 05
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 are forecast to decline by an average of 0.6% per year for the foreseeable future. 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 (6.8% average weekly change). New Risk • Jul 15
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.5% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 0.5% per year for the foreseeable future. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Declared Dividend • Jul 10
Dividend of NT$12.00 announced Dividend of NT$12.00 is the same as last year. Ex-date: 18th July 2024 Payment date: 16th August 2024 Dividend yield will be 1.9%, which is lower than the industry average of 4.0%. Sustainability & Growth Dividend is well covered by both earnings (34% earnings payout ratio) and cash flows (20% cash payout ratio). The dividend has increased by an average of 23% per year over the past 6 years and payments have been stable during that time. EPS is expected to decline by 2.3% over the next 3 years. However, it would need to fall by 62% to increase the payout ratio to a potentially unsustainable range. Valuation Update With 7 Day Price Move • Jun 18
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$630, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 17x in the Electronic industry in Taiwan. Total returns to shareholders of 32% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$1,008 per share. Reported Earnings • May 18
First quarter 2024 earnings: EPS and revenues exceed analyst expectations First quarter 2024 results: EPS: NT$9.65 (up from NT$2.11 in 1Q 2023). Revenue: NT$5.24b (up 57% from 1Q 2023). Net income: NT$1.09b (up 358% from 1Q 2023). Profit margin: 21% (up from 7.1% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 13%. Earnings per share (EPS) also surpassed analyst estimates by 110%. Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 11% per year whereas the company’s share price has increased by 9% per year. Price Target Changed • May 17
Price target increased by 14% to NT$512 Up from NT$450, the current price target is an average from 7 analysts. New target price is approximately in line with last closing price of NT$528. Stock is up 35% over the past year. The company is forecast to post earnings per share of NT$36.28 for next year compared to NT$27.25 last year. Valuation Update With 7 Day Price Move • May 16
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$523, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 15x in the Electronic industry in Taiwan. Total returns to shareholders of 39% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$1,017 per share. Major Estimate Revision • May 16
Consensus EPS estimates increase by 27% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has improved. 2024 revenue forecast increased from NT$23.3b to NT$24.9b. EPS estimate increased from NT$28.77 to NT$36.42 per share. Net income forecast to grow 34% next year vs 33% growth forecast for Electronic industry in Taiwan. Consensus price target up from NT$450 to NT$480. Share price rose 16% to NT$523 over the past week. Announcement • May 08
Genius Electronic Optical Co., Ltd to Report Q1, 2024 Results on May 14, 2024 Genius Electronic Optical Co., Ltd announced that they will report Q1, 2024 results on May 14, 2024 Major Estimate Revision • Mar 20
Consensus EPS estimates increase by 13% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has improved. 2024 revenue forecast increased from NT$22.9b to NT$23.3b. EPS estimate increased from NT$27.88 to NT$31.44 per share. Net income forecast to grow 15% next year vs 34% growth forecast for Electronic industry in Taiwan. Consensus price target up from NT$415 to NT$450. Share price rose 16% to NT$463 over the past week. Price Target Changed • Mar 16
Price target increased by 8.3% to NT$450 Up from NT$415, the current price target is an average from 7 analysts. New target price is 7.7% above last closing price of NT$418. Stock is up 6.2% over the past year. The company is forecast to post earnings per share of NT$31.44 for next year compared to NT$27.25 last year. Announcement • Mar 14
Genius Electronic Optical Co., Ltd, Annual General Meeting, Jun 18, 2024 Genius Electronic Optical Co., Ltd, Annual General Meeting, Jun 18, 2024. Reported Earnings • Mar 14
Full year 2023 earnings: EPS exceeds analyst expectations Full year 2023 results: EPS: NT$27.25 (down from NT$29.07 in FY 2022). Revenue: NT$21.7b (up 13% from FY 2022). Net income: NT$3.07b (down 6.1% from FY 2022). Profit margin: 14% (down from 17% in FY 2022). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 1.7%. Revenue is forecast to grow 5.4% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 15
Second quarter 2023 earnings: EPS and revenues miss analyst expectations Second quarter 2023 results: EPS: NT$0.99 (down from NT$3.32 in 2Q 2022). Revenue: NT$2.67b (down 8.4% from 2Q 2022). Net income: NT$111.9m (down 70% from 2Q 2022). Profit margin: 4.2% (down from 13% in 2Q 2022). Revenue missed analyst estimates by 17%. Earnings per share (EPS) also missed analyst estimates by 24%. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 8.3% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has fallen by 16% per year, which means it is performing significantly worse than earnings. Major Estimate Revision • Aug 12
Consensus EPS estimates fall by 23% The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate fell from NT$27.82 to NT$21.41 per share. Revenue forecast steady at NT$21.1b. Net income forecast to shrink 26% next year vs 0.9% decline forecast for Electronic industry in Taiwan. Consensus price target broadly unchanged at NT$403. Share price was steady at NT$385 over the past week. Upcoming Dividend • Jul 20
Upcoming dividend of NT$12.00 per share at 3.0% yield Eligible shareholders must have bought the stock before 27 July 2023. Payment date: 25 August 2023. Payout ratio is a comfortable 41% and this is well supported by cash flows. Trailing yield: 3.0%. Lower than top quartile of Taiwanese dividend payers (5.5%). Lower than average of industry peers (4.2%). Major Estimate Revision • May 17
Consensus EPS estimates fall by 11% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from NT$21.4b to NT$19.4b. EPS estimate also fell from NT$26.56 per share to NT$23.56 per share. Net income forecast to shrink 19% next year vs 16% decline forecast for Electronic industry in Taiwan. Consensus price target broadly unchanged at NT$400. Share price rose 4.1% to NT$394 over the past week. Reported Earnings • Mar 26
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: EPS: NT$29.06 (up from NT$20.52 in FY 2021). Revenue: NT$19.2b (up 15% from FY 2021). Net income: NT$3.27b (up 43% from FY 2021). Profit margin: 17% (up from 14% in FY 2021). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 1.9%. Earnings per share (EPS) also missed analyst estimates by 10%. Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 5.7% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 3% per year whereas the company’s share price has fallen by 1% per year. Buying Opportunity • Jan 06
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 3.4%. The fair value is estimated to be NT$451, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years, while earnings per share has been flat. Revenue is forecast to grow by 35% in 2 years. Earnings is forecast to grow by 13% in the next 2 years. Buying Opportunity • Dec 07
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 13%. The fair value is estimated to be NT$491, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years, while earnings per share has been flat. Revenue is forecast to grow by 35% in 2 years. Earnings is forecast to grow by 13% in the next 2 years. Major Estimate Revision • Nov 17
Consensus EPS estimates increase by 19% The consensus outlook for earnings per share (EPS) in 2022 has improved. 2022 revenue forecast increased from NT$19.0b to NT$19.7b. EPS estimate increased from NT$26.22 to NT$31.22 per share. Net income forecast to shrink 2.1% next year vs 6.3% growth forecast for Electronic industry in Taiwan . Consensus price target down from NT$450 to NT$430. Share price rose 19% to NT$393 over the past week. Reported Earnings • Nov 16
Third quarter 2022 earnings: EPS and revenues exceed analyst expectations Third quarter 2022 results: EPS: NT$15.34 (up from NT$8.71 in 3Q 2021). Revenue: NT$7.18b (up 21% from 3Q 2021). Net income: NT$1.73b (up 77% from 3Q 2021). Profit margin: 24% (up from 17% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 3.1%. Earnings per share (EPS) also surpassed analyst estimates by 42%. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 7.1% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 2% per year whereas the company’s share price has fallen by 3% per year. Board Change • Nov 16
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. 11 experienced directors. No highly experienced directors. 1 independent director (6 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Nov 12
Third quarter 2022 earnings: EPS and revenues exceed analyst expectations Third quarter 2022 results: EPS: NT$15.34 (up from NT$8.71 in 3Q 2021). Revenue: NT$7.18b (up 21% from 3Q 2021). Net income: NT$1.73b (up 77% from 3Q 2021). Profit margin: 24% (up from 17% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 3.1%. Earnings per share (EPS) also surpassed analyst estimates by 42%. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 7.2% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 2% per year whereas the company’s share price has fallen by 7% per year. Valuation Update With 7 Day Price Move • Sep 28
Investor sentiment deteriorated over the past week After last week's 15% share price decline to NT$360, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 9x in the Electronic industry in Taiwan. Total loss to shareholders of 22% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$553 per share. Buying Opportunity • Sep 01
Now 21% undervalued Over the last 90 days, the stock is up 6.0%. The fair value is estimated to be NT$556, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 19% over the last 3 years. Earnings per share has grown by 4.4%. Revenue is forecast to grow by 31% in 2 years. Earnings is forecast to grow by 30% in the next 2 years. Reported Earnings • Aug 15
Second quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behind Second quarter 2022 results: EPS: NT$3.32 (up from NT$1.06 in 2Q 2021). Revenue: NT$2.91b (up 15% from 2Q 2021). Net income: NT$373.7m (up 216% from 2Q 2021). Profit margin: 13% (up from 4.7% in 2Q 2021). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 4.1%. Earnings per share (EPS) exceeded analyst estimates by 122%. Over the next year, revenue is forecast to grow 15%, compared to a 8.6% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has increased by 1% per year. Upcoming Dividend • Jul 20
Upcoming dividend of NT$7.99 per share Eligible shareholders must have bought the stock before 27 July 2022. Payment date: 26 August 2022. Payout ratio is a comfortable 38% and this is well supported by cash flows. Trailing yield: 1.9%. Lower than top quartile of Taiwanese dividend payers (6.8%). Lower than average of industry peers (4.7%). Valuation Update With 7 Day Price Move • Jul 08
Investor sentiment improved over the past week After last week's 19% share price gain to NT$408, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 9x in the Electronic industry in Taiwan. Total loss to shareholders of 1.4% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$726 per share. Valuation Update With 7 Day Price Move • May 31
Investor sentiment improved over the past week After last week's 17% share price gain to NT$416, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 11x in the Electronic industry in Taiwan. Total returns to shareholders of 40% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$627 per share. Reported Earnings • May 16
First quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2022 results: EPS: NT$2.90 (up from NT$2.50 in 1Q 2021). Revenue: NT$3.38b (up 32% from 1Q 2021). Net income: NT$326.3m (up 17% from 1Q 2021). Profit margin: 9.7% (down from 11% in 1Q 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.7%. Earnings per share (EPS) missed analyst estimates by 18%. Over the next year, revenue is forecast to grow 12%, compared to a 9.7% growth forecast for the industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Price Target Changed • May 16
Price target decreased to NT$489 Down from NT$534, the current price target is an average from 9 analysts. New target price is 46% above last closing price of NT$336. Stock is down 9.1% over the past year. The company is forecast to post earnings per share of NT$22.60 for next year compared to NT$20.52 last year. Major Estimate Revision • May 15
Consensus EPS estimates fall by 13% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from NT$19.8b to NT$18.5b. EPS estimate also fell from NT$25.02 per share to NT$21.80 per share. Net income forecast to grow 20% next year vs 11% growth forecast for Electronic industry in Taiwan. Consensus price target broadly unchanged at NT$525. Share price fell 4.4% to NT$348 over the past week. 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. 11 experienced directors. No highly experienced directors. 1 independent director (6 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Mar 28
Full year 2021 earnings: EPS misses analyst expectations Full year 2021 results: EPS: NT$20.52 (down from NT$27.42 in FY 2020). Revenue: NT$16.7b (up 5.3% from FY 2020). Net income: NT$2.30b (down 25% from FY 2020). Profit margin: 14% (down from 19% in FY 2020). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 1.3%. Over the next year, revenue is forecast to grow 22%, compared to a 10% growth forecast for the industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Nov 18
Investor sentiment improved over the past week After last week's 17% share price gain to NT$490, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 12x in the Electronic industry in Taiwan. Total returns to shareholders of 146% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$813 per share. Reported Earnings • Nov 13
Third quarter 2021 earnings released: EPS NT$8.71 (vs NT$9.43 in 3Q 2020) The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: NT$5.92b (up 14% from 3Q 2020). Net income: NT$975.1m (down 7.3% from 3Q 2020). Profit margin: 17% (down from 20% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 30% per year whereas the company’s share price has increased by 33% per year. Price Target Changed • Nov 13
Price target decreased to NT$549 Down from NT$595, the current price target is an average from 8 analysts. New target price is 23% above last closing price of NT$448. Stock is down 24% over the past year. The company is forecast to post earnings per share of NT$20.63 for next year compared to NT$27.42 last year. Valuation Update With 7 Day Price Move • Oct 04
Investor sentiment deteriorated over the past week After last week's 16% share price decline to NT$383, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 11x in the Electronic industry in Taiwan. Total returns to shareholders of 57% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$691 per share. Price Target Changed • Aug 17
Price target increased to NT$607 Up from NT$567, the current price target is an average from 8 analysts. New target price is 29% above last closing price of NT$471. Stock is down 24% over the past year. Reported Earnings • Aug 12
Second quarter 2021 earnings released: EPS NT$1.06 (vs NT$4.44 in 2Q 2020) The company reported a poor second quarter result with weaker earnings, revenues and profit margins. Second quarter 2021 results: Revenue: NT$2.54b (down 18% from 2Q 2020). Net income: NT$118.3m (down 76% from 2Q 2020). Profit margin: 4.7% (down from 16% in 2Q 2020). The decrease in margin was driven by lower revenue. 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 10% per year, which means it is significantly lagging earnings growth. Major Estimate Revision • Aug 12
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 revenue forecast increased from NT$15.4b to NT$16.2b. EPS estimate fell from NT$24.66 to NT$21.94 per share. Net income forecast to grow 8.8% next year vs 23% growth forecast for Electronic industry in Taiwan. Consensus price target up from NT$567 to NT$609. Share price was steady at NT$511 over the past week. Price Target Changed • Aug 12
Price target increased to NT$609 Up from NT$567, the current price target is an average from 7 analysts. New target price is 19% above last closing price of NT$511. Stock is down 21% over the past year. Upcoming Dividend • Jul 22
Upcoming dividend of NT$9.99 per share Eligible shareholders must have bought the stock before 29 July 2021. Payment date: 26 August 2021. Trailing yield: 1.8%. Lower than top quartile of Taiwanese dividend payers (4.9%). Lower than average of industry peers (3.0%). Price Target Changed • Jun 25
Price target increased to NT$582 Up from NT$536, the current price target is an average from 6 analysts. New target price is 6.8% above last closing price of NT$545. Stock is down 21% over the past year. Valuation Update With 7 Day Price Move • May 24
Investor sentiment improved over the past week After last week's 20% share price gain to NT$443, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 11x in the Electronic industry in Taiwan. Negligible returns to shareholders over past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$312 per share. Major Estimate Revision • May 24
Consensus revenue estimates increase to NT$13.3b The consensus outlook for revenues in 2021 has improved. 2021 revenue forecast increased from NT$11.7b to NT$13.3b. EPS estimate increased from NT$17.24 to NT$19.95 per share. Net income forecast to shrink 12% next year vs 21% growth forecast for Electronic industry in Taiwan . Consensus price target reaffirmed at NT$534. Share price rose 20% to NT$443 over the past week. Price Target Changed • May 23
Price target decreased to NT$534 Down from NT$590, the current price target is an average from 4 analysts. New target price is 29% above last closing price of NT$414. Stock is down 13% over the past year. Major Estimate Revision • May 20
Consensus revenue estimates fall to NT$11.7b The consensus outlook for revenues in 2021 has deteriorated. 2021 revenue forecast decreased from NT$15.9b to NT$11.7b. EPS estimate fell from NT$29.93 to NT$17.24 per share. Net income forecast to shrink 20% next year vs 21% growth forecast for Electronic industry in Taiwan . Consensus price target down from NT$590 to NT$534. Share price fell 4.6% to NT$404 over the past week. Reported Earnings • May 15
First quarter 2021 earnings released: EPS NT$2.50 (vs NT$4.59 in 1Q 2020) The company reported a poor first quarter result with weaker earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$2.56b (down 4.9% from 1Q 2020). Net income: NT$279.7m (down 45% from 1Q 2020). Profit margin: 11% (down from 19% in 1Q 2020). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth.