Buy Or Sell Opportunity • Jun 29
Now 26% overvalued after recent price rise Over the last 90 days, the stock has risen 90% to NT$863. The fair value is estimated to be NT$686, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 24% over the last 3 years. Earnings per share has grown by 24%. Revenue is forecast to grow by 43% in 2 years. Earnings are forecast to grow by 135% in the next 2 years. Buy Or Sell Opportunity • Jun 08
Now 22% undervalued Over the last 90 days, the stock has risen 133% to NT$807. The fair value is estimated to be NT$1,029, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 24% over the last 3 years. Earnings per share has grown by 25%. Revenue is forecast to grow by 44% in 2 years. Earnings are forecast to grow by 128% in the next 2 years. Reported Earnings • May 09
First quarter 2026 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2026 results: EPS: NT$4.00 (up from NT$3.20 in 1Q 2025). Revenue: NT$3.12b (up 11% from 1Q 2025). Net income: NT$333.0m (up 29% from 1Q 2025). Profit margin: 11% (up from 9.1% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.9%. Earnings per share (EPS) missed analyst estimates by 5.4%. Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 23% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has increased by 108% per year, which means it is tracking significantly ahead of earnings growth. Buy Or Sell Opportunity • Apr 17
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 129% to NT$758. The fair value is estimated to be NT$623, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 25% over the last 3 years. Earnings per share has grown by 24%. Revenue is forecast to grow by 28% in 2 years. Earnings are forecast to grow by 102% in the next 2 years. Valuation Update With 7 Day Price Move • Apr 09
Investor sentiment improves as stock rises 33% After last week's 33% share price gain to NT$612, the stock trades at a forward P/E ratio of 31x. Average forward P/E is 19x in the Electronic industry in Taiwan. Total returns to shareholders of 648% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$626 per share. Price Target Changed • Apr 08
Price target increased by 23% to NT$530 Up from NT$433, the current price target is an average from 3 analysts. New target price is approximately in line with last closing price of NT$557. Stock is up 172% over the past year. The company is forecast to post earnings per share of NT$19.21 for next year compared to NT$13.82 last year. New Risk • Apr 07
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 8.6% 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. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Mar 25
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to NT$497, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 17x in the Electronic industry in Taiwan. Total returns to shareholders of 521% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$643 per share. Reported Earnings • Mar 14
Full year 2025 earnings: Revenues and EPS in line with analyst expectations Full year 2025 results: EPS: NT$13.82 (up from NT$11.54 in FY 2024). Revenue: NT$11.4b (up 17% from FY 2024). Net income: NT$1.11b (up 20% from FY 2024). Profit margin: 9.8% (in line with FY 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 7.8% p.a. on average during the next 2 years, compared to a 18% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has increased by 68% per year, which means it is tracking significantly ahead of earnings growth. Declared Dividend • Mar 12
Dividend increased to NT$6.00 Dividend of NT$6.00 is 33% higher than last year. Ex-date: 9th July 2026 Payment date: 6th August 2026 Dividend yield will be 1.6%, which is lower than the industry average of 4.0%. Sustainability & Growth Dividend is covered by earnings (35% earnings payout ratio) but 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 12% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 64% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Announcement • Mar 02
Scientech Corporation to Report Q4, 2025 Results on Mar 10, 2026 Scientech Corporation announced that they will report Q4, 2025 results on Mar 10, 2026 Valuation Update With 7 Day Price Move • Feb 26
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$371, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 19x in the Electronic industry in Taiwan. Total returns to shareholders of 398% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$229 per share. Reported Earnings • Nov 14
Third quarter 2025 earnings: EPS misses analyst expectations Third quarter 2025 results: EPS: NT$3.66 (up from NT$3.00 in 3Q 2024). Revenue: NT$2.83b (up 13% from 3Q 2024). Net income: NT$293.9m (up 22% from 3Q 2024). Profit margin: 10% (in line with 3Q 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 9.8%. Revenue is forecast to grow 7.7% 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 23% per year but the company’s share price has increased by 63% per year, which means it is tracking significantly ahead of earnings growth. Major Estimate Revision • Oct 15
Consensus EPS estimates fall by 12% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from NT$11.7b to NT$11.4b. EPS estimate also fell from NT$15.50 per share to NT$13.63 per share. Net income forecast to grow 30% next year vs 23% growth forecast for Electronic industry in Taiwan. Consensus price target of NT$433 unchanged from last update. Share price was steady at NT$378 over the past week. Valuation Update With 7 Day Price Move • Sep 24
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to NT$427, the stock trades at a trailing P/E ratio of 35.1x. Average forward P/E is 17x in the Electronic industry in Taiwan. Total returns to shareholders of 579% over the past three years. Reported Earnings • Aug 15
Second quarter 2025 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2025 results: EPS: NT$2.85 (up from NT$2.82 in 2Q 2024). Revenue: NT$2.91b (up 23% from 2Q 2024). Net income: NT$228.9m (up 1.0% from 2Q 2024). Profit margin: 7.9% (down from 9.5% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 3.0%. Earnings per share (EPS) missed analyst estimates by 17%. Revenue is forecast to grow 3.2% 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 23% per year but the company’s share price has increased by 62% per year, which means it is tracking significantly ahead of earnings growth. Buy Or Sell Opportunity • Jul 31
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 24% to NT$340. The fair value is estimated to be NT$280, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 25% over the last 3 years. Earnings per share has grown by 22%. Buy Or Sell Opportunity • Jul 09
Now 24% overvalued after recent price rise Over the last 90 days, the stock has risen 57% to NT$352. The fair value is estimated to be NT$283, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 25% over the last 3 years. Earnings per share has grown by 22%. Price Target Changed • Jun 28
Price target decreased by 17% to NT$333 Down from NT$401, the current price target is an average from 2 analysts. New target price is 6.1% below last closing price of NT$354. Stock is up 0.1% over the past year. The company is forecast to post earnings per share of NT$15.50 for next year compared to NT$11.54 last year. Upcoming Dividend • Jun 23
Upcoming dividend of NT$4.50 per share Eligible shareholders must have bought the stock before 30 June 2025. Payment date: 25 July 2025. Payout ratio is a comfortable 37% but the company is paying out more than the cash it is generating. Trailing yield: 1.4%. Lower than top quartile of Taiwanese dividend payers (5.3%). Lower than average of industry peers (3.3%). Reported Earnings • May 16
First quarter 2025 earnings: EPS and revenues miss analyst expectations First quarter 2025 results: EPS: NT$3.20 (up from NT$2.61 in 1Q 2024). Revenue: NT$2.81b (up 25% from 1Q 2024). Net income: NT$257.3m (up 23% from 1Q 2024). Profit margin: 9.1% (down from 9.3% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 6.5%. Earnings per share (EPS) also missed analyst estimates by 25%. Revenue is forecast to grow 4.7% 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 22% per year but the company’s share price has increased by 51% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Apr 30
Scientech Corporation to Report Q1, 2025 Results on May 02, 2025 Scientech Corporation announced that they will report Q1, 2025 results on May 02, 2025 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$277, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 13x in the Electronic industry in Taiwan. Total returns to shareholders of 277% over the past three years. 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$227, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 13x in the Electronic industry in Taiwan. Total returns to shareholders of 192% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$96.55 per share. New Risk • Mar 31
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 6.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Reported Earnings • Mar 20
Full year 2024 earnings: Revenues and EPS in line with analyst expectations Full year 2024 results: EPS: NT$11.54 (up from NT$8.10 in FY 2023). Revenue: NT$9.69b (up 40% from FY 2023). Net income: NT$927.0m (up 43% from FY 2023). Profit margin: 9.6% (in line with FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 10% 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 22% per year but the company’s share price has increased by 52% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Mar 03
Scientech Corporation, Annual General Meeting, May 23, 2025 Scientech Corporation, Annual General Meeting, May 23, 2025. Location: 6 floor no,182, pa to rd., hsinchu city Taiwan Declared Dividend • Mar 01
Dividend increased to NT$4.50 Dividend of NT$4.50 is 13% higher than last year. Ex-date: 30th June 2025 Payment date: 25th July 2025 Dividend yield will be 1.3%, which is lower than the industry average of 4.0%. Sustainability & Growth Dividend is well covered by both earnings (37% earnings payout ratio) and cash flows (32% cash payout ratio). The dividend has increased by an average of 2.9% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 50% over the next year, which should provide support to the dividend and adequate earnings cover. Announcement • Feb 28
Scientech Corporation Announces Cash Dividends to Common Shareholders, Payable on July 25, 2025 Scientech Corporation announced cash dividends to common shareholders of TWD 361,476,000. (TWD 4.5 per share), payable on July 25, 2025 and Ex-rights (ex-dividend) record date of July 6, 2025. Ex-rights (ex-dividend) trading date: June 30, 2025. Announcement • Feb 20
Scientech Corporation to Report Q4, 2024 Results on Feb 27, 2025 Scientech Corporation announced that they will report Q4, 2024 results at 9:00 AM, Taipei Standard Time on Feb 27, 2025 Reported Earnings • Nov 17
Third quarter 2024 earnings released: EPS: NT$3.00 (vs NT$2.09 in 3Q 2023) Third quarter 2024 results: EPS: NT$3.00 (up from NT$2.09 in 3Q 2023). Revenue: NT$2.50b (up 44% from 3Q 2023). Net income: NT$240.9m (up 44% from 3Q 2023). Profit margin: 9.6% (in line with 3Q 2023). Revenue is forecast to grow 19% 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 increased by 76% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Oct 25
Scientech Corporation to Report Q3, 2024 Results on Nov 01, 2024 Scientech Corporation announced that they will report Q3, 2024 results on Nov 01, 2024 Valuation Update With 7 Day Price Move • Oct 07
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$492, the stock trades at a trailing P/E ratio of 50.2x. Average trailing P/E is 22x in the Electronic industry in Taiwan. Total returns to shareholders of 679% over the past three years. Valuation Update With 7 Day Price Move • Sep 23
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$454, the stock trades at a trailing P/E ratio of 46.3x. Average trailing P/E is 23x in the Electronic industry in Taiwan. Total returns to shareholders of 567% over the past three years. Reported Earnings • Aug 17
Second quarter 2024 earnings released: EPS: NT$2.82 (vs NT$1.92 in 2Q 2023) Second quarter 2024 results: EPS: NT$2.82 (up from NT$1.92 in 2Q 2023). Revenue: NT$2.37b (up 47% from 2Q 2023). Net income: NT$226.5m (up 47% from 2Q 2023). Profit margin: 9.5% (in line with 2Q 2023). Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has increased by 96% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Aug 15
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to NT$440, the stock trades at a trailing P/E ratio of 49.4x. Average trailing P/E is 24x in the Electronic industry in Taiwan. Total returns to shareholders of 696% over the past three years. Announcement • Aug 01
Scientech Corporation to Report Q2, 2024 Results on Aug 08, 2024 Scientech Corporation announced that they will report Q2, 2024 results on Aug 08, 2024 Valuation Update With 7 Day Price Move • Jul 02
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$389, the stock trades at a trailing P/E ratio of 43.7x. Average trailing P/E is 25x in the Electronic industry in Taiwan. Total returns to shareholders of 543% over the past three years. Reported Earnings • May 18
First quarter 2024 earnings released: EPS: NT$2.61 (vs NT$1.81 in 1Q 2023) First quarter 2024 results: EPS: NT$2.61 (up from NT$1.81 in 1Q 2023). Revenue: NT$2.24b (up 39% from 1Q 2023). Net income: NT$209.7m (up 44% from 1Q 2023). Profit margin: 9.3% (up from 9.0% in 1Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has increased by 79% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 03
Scientech Corporation to Report Q1, 2024 Results on May 10, 2024 Scientech Corporation announced that they will report Q1, 2024 results at 9:00 AM, Taipei Standard Time on May 10, 2024 Valuation Update With 7 Day Price Move • Mar 27
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$320, the stock trades at a trailing P/E ratio of 39.5x. Average trailing P/E is 23x in the Electronic industry in Taiwan. Total returns to shareholders of 409% over the past three years. Reported Earnings • Mar 05
Full year 2023 earnings released: EPS: NT$8.10 (vs NT$7.08 in FY 2022) Full year 2023 results: EPS: NT$8.10 (up from NT$7.08 in FY 2022). Revenue: NT$6.91b (up 22% from FY 2022). Net income: NT$650.3m (up 14% from FY 2022). Profit margin: 9.4% (in line with FY 2022). Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has increased by 65% per year, which means it is tracking significantly ahead of earnings growth. Declared Dividend • Mar 02
Dividend increased to NT$4.00 Dividend of NT$4.00 is 11% higher than last year. Ex-date: 27th June 2024 Payment date: 25th July 2024 Dividend yield will be 1.5%, which is lower than the industry average of 4.0%. Sustainability & Growth Dividend is well covered by both earnings (47% earnings payout ratio) and cash flows (26% cash payout ratio). The dividend has increased by an average of 9.1% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 9.2% 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 • Nov 23
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$217, the stock trades at a trailing P/E ratio of 28.5x. Average trailing P/E is 20x in the Electronic industry in Taiwan. Total returns to shareholders of 288% over the past three years. Reported Earnings • Nov 05
Third quarter 2023 earnings released: EPS: NT$2.09 (vs NT$1.89 in 3Q 2022) Third quarter 2023 results: EPS: NT$2.09 (up from NT$1.89 in 3Q 2022). Revenue: NT$1.74b (up 21% from 3Q 2022). Net income: NT$167.9m (up 10% from 3Q 2022). Profit margin: 9.6% (down from 11% in 3Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has increased by 49% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Aug 05
Second quarter 2023 earnings released: EPS: NT$1.92 (vs NT$1.89 in 2Q 2022) Second quarter 2023 results: EPS: NT$1.92 (up from NT$1.89 in 2Q 2022). Revenue: NT$1.61b (up 17% from 2Q 2022). Net income: NT$154.4m (up 1.5% from 2Q 2022). Profit margin: 9.6% (down from 11% in 2Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has increased by 54% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Jul 27
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$221, the stock trades at a trailing P/E ratio of 29.9x. Average trailing P/E is 18x in the Electronic industry in Taiwan. Total returns to shareholders of 308% over the past three years. Valuation Update With 7 Day Price Move • Jul 17
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$187, the stock trades at a trailing P/E ratio of 25.3x. Average trailing P/E is 17x in the Electronic industry in Taiwan. Total returns to shareholders of 218% over the past three years. Announcement • Jun 14
Scientech Corporation Announces Cash Dividend for the Year 2022 Scientech Corporation announced Distribute of TWD 3.6 of cash dividends for each share for the year 2022. Upcoming Dividend • Jun 12
Upcoming dividend of NT$3.60 per share at 2.4% yield Eligible shareholders must have bought the stock before 19 June 2023. Payment date: 20 July 2023. Payout ratio is a comfortable 49% and this is well supported by cash flows. Trailing yield: 2.4%. Lower than top quartile of Taiwanese dividend payers (5.5%). Lower than average of industry peers (4.3%). New Risk • Jun 11
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 6.0% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: 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 (6.0% average weekly change). Valuation Update With 7 Day Price Move • Jun 07
Investor sentiment improves as stock rises 28% After last week's 28% share price gain to NT$135, the stock trades at a trailing P/E ratio of 18.2x. Average trailing P/E is 16x in the Electronic industry in Taiwan. Total returns to shareholders of 198% over the past three years. Announcement • May 06
Scientech Corporation Appoints Shen Shu-Chen as Corporate Governance Officer Scientech Corporation announced appointment of Shen Shu-Chen, Associate vice president,Special Assistant of the chairman as corporate governance officer, effective May 8, 2023. Reported Earnings • Mar 29
Full year 2022 earnings released: EPS: NT$7.08 (vs NT$5.23 in FY 2021) Full year 2022 results: EPS: NT$7.08 (up from NT$5.23 in FY 2021). Revenue: NT$5.65b (up 21% from FY 2021). Net income: NT$568.6m (up 35% from FY 2021). Profit margin: 10% (up from 9.0% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 31% per year whereas the company’s share price has increased by 29% per year. Reported Earnings • Nov 06
Third quarter 2022 earnings released: EPS: NT$1.89 (vs NT$1.62 in 3Q 2021) Third quarter 2022 results: EPS: NT$1.89 (up from NT$1.62 in 3Q 2021). Revenue: NT$1.44b (up 12% from 3Q 2021). Net income: NT$152.1m (up 17% from 3Q 2021). Profit margin: 11% (in line with 3Q 2021). 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 5% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Aug 19
Investor sentiment improved over the past week After last week's 15% share price gain to NT$83.70, the stock trades at a trailing P/E ratio of 12.8x. Average trailing P/E is 13x in the Electronic industry in Taiwan. Total returns to shareholders of 48% over the past three years. Reported Earnings • Aug 10
Second quarter 2022 earnings released: EPS: NT$1.89 (vs NT$1.83 in 2Q 2021) Second quarter 2022 results: EPS: NT$1.89 (up from NT$1.83 in 2Q 2021). Revenue: NT$1.38b (up 38% from 2Q 2021). Net income: NT$152.1m (up 3.2% from 2Q 2021). Profit margin: 11% (down from 15% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 10% per year whereas the company’s share price has increased by 5% per year. Valuation Update With 7 Day Price Move • Jul 06
Investor sentiment deteriorated over the past week After last week's 15% share price decline to NT$63.60, the stock trades at a trailing P/E ratio of 9.8x. Average trailing P/E is 12x in the Electronic industry in Taiwan. Total returns to shareholders of 12% over the past three years. Upcoming Dividend • Jun 16
Upcoming dividend of NT$2.50 per share Eligible shareholders must have bought the stock before 23 June 2022. Payment date: 21 July 2022. Payout ratio is a comfortable 39% and this is well supported by cash flows. Trailing yield: 2.8%. Lower than top quartile of Taiwanese dividend payers (6.0%). Lower than average of industry peers (4.3%). Reported Earnings • May 08
First quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2022 results: EPS: NT$1.51 (up from NT$0.25 in 1Q 2021). Revenue: NT$1.25b (up 31% from 1Q 2021). Net income: NT$121.0m (up NT$100.9m from 1Q 2021). Profit margin: 9.6% (up from 2.1% in 1Q 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.0%. Earnings per share (EPS) missed analyst estimates by 20%. Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has increased by 5% per year. Reported Earnings • Mar 05
Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2021 results: EPS: NT$5.23 (up from NT$3.80 in FY 2020). Revenue: NT$4.68b (up 31% from FY 2020). Net income: NT$419.9m (up 38% from FY 2020). Profit margin: 9.0% (up from 8.5% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.0%. Earnings per share (EPS) missed analyst estimates by 20%. 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 10% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Dec 29
Investor sentiment improved over the past week After last week's 21% share price gain to NT$98.20, the stock trades at a trailing P/E ratio of 19.6x. Average trailing P/E is 18x in the Electronic industry in Taiwan. Total returns to shareholders of 115% over the past three years. Reported Earnings • Nov 07
Third quarter 2021 earnings released: EPS NT$1.62 (vs NT$1.18 in 3Q 2020) The company reported a solid third quarter result with improved earnings and revenues, although profit margins were flat. Third quarter 2021 results: Revenue: NT$1.29b (up 33% from 3Q 2020). Net income: NT$129.8m (up 37% from 3Q 2020). Profit margin: 10% (in line with 3Q 2020). 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 13% per year, which means it is well ahead of earnings. Reported Earnings • Aug 09
Second quarter 2021 earnings released: EPS NT$1.83 (vs NT$1.29 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: NT$1.00b (up 19% from 2Q 2020). Net income: NT$147.3m (up 43% from 2Q 2020). Profit margin: 15% (up from 12% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 14% 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. Upcoming Dividend • Jun 21
Upcoming dividend of NT$1.85 per share Eligible shareholders must have bought the stock before 28 June 2021. Payment date: 23 July 2021. Trailing yield: 3.0%. Lower than top quartile of Taiwanese dividend payers (5.0%). In line with average of industry peers (3.1%). Valuation Update With 7 Day Price Move • May 17
Investor sentiment deteriorated over the past week After last week's 19% share price decline to NT$52.50, the stock trades at a trailing P/E ratio of 12.9x. Average trailing P/E is 15x in the Electronic industry in Taiwan. Total loss to shareholders of 7.9% over the past three years. Reported Earnings • May 08
First quarter 2021 earnings released: EPS NT$0.25 (vs NT$0.031 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$956.6m (up 52% from 1Q 2020). Net income: NT$20.1m (up NT$17.6m from 1Q 2020). Profit margin: 2.1% (up from 0.4% 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 13% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Announcement • Mar 20
Scientech Corporation, Annual General Meeting, Jun 11, 2021 Scientech Corporation, Annual General Meeting, Jun 11, 2021. Reported Earnings • Mar 06
Full year 2020 earnings released: EPS NT$3.80 (vs NT$4.02 in FY 2019) The company reported a soft full year result with weaker earnings and revenues, although profit margins were improved. Full year 2020 results: Revenue: NT$3.58b (down 9.4% from FY 2019). Net income: NT$305.5m (down 5.3% from FY 2019). Profit margin: 8.5% (up from 8.2% in FY 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Announcement • Jan 12
Yield Engineering Systems, Inc. and Scientech Corporation Sign Strategic Alliance MOU Yield Engineering Systems, Inc. announced that it has signed an agreement with its partner Scientech Corporation allowing Scientech to manufacture, market, distribute and support YES products in Taiwan and other Asian markets, including the People's Republic of China. This agreement marks YES's first step into localized production of its products in Asia. Scientech has been a YES representative since 2018. Valuation Update With 7 Day Price Move • Dec 15
Investor sentiment deteriorated over the past week After last week's 15% share price decline to NT$63.40, the stock is trading at a trailing P/E ratio of 21.4x, down from the previous P/E ratio of 25.2x. This compares to an average P/E of 17x in the Electronic industry in Taiwan. Total return to shareholders over the past three years is a loss of 13%. Valuation Update With 7 Day Price Move • Dec 04
Market bids up stock over the past week After last week's 18% share price gain to NT$72.10, the stock is trading at a trailing P/E ratio of 24.3x, up from the previous P/E ratio of 20.7x. This compares to an average P/E of 17x in the Electronic industry in Taiwan. Total return to shareholders over the past three years is a loss of 10.0%. Is New 90 Day High Low • Nov 30
New 90-day high: NT$62.00 The company is up 5.0% from its price of NT$59.00 on 01 September 2020. The Taiwanese market is up 10.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 8.0% over the same period. Reported Earnings • Nov 08
Third quarter 2020 earnings released: EPS NT$1.18 The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2020 results: Revenue: NT$966.5m (down 7.5% from 3Q 2019). Net income: NT$95.0m (up 2.9% from 3Q 2019). Profit margin: 9.8% (up from 8.8% in 3Q 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 5% per year whereas the company’s share price has fallen by 9% per year.