Board Change • Jul 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 10 experienced directors. No highly experienced directors. Supervisor & Independent Director Ta-jen Chou was the last director to join the board, commencing their role in 2023. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • May 20
First quarter 2026 earnings released: EPS: NT$1.14 (vs NT$0.36 in 1Q 2025) First quarter 2026 results: EPS: NT$1.14 (up from NT$0.36 in 1Q 2025). Revenue: NT$773.1m (up 59% from 1Q 2025). Net income: NT$94.3m (up 212% from 1Q 2025). Profit margin: 12% (up from 6.2% in 1Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has increased by 64% 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$131, the stock trades at a trailing P/E ratio of 62.8x. Average trailing P/E is 33x in the Electronic industry in Taiwan. Total returns to shareholders of 436% over the past three years. Reported Earnings • Mar 17
Full year 2025 earnings released: EPS: NT$2.08 (vs NT$2.11 in FY 2024) Full year 2025 results: EPS: NT$2.08 (down from NT$2.11 in FY 2024). Revenue: NT$2.50b (up 50% from FY 2024). Net income: NT$172.1m (down 1.6% from FY 2024). Profit margin: 6.9% (down from 11% in FY 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 60% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Mar 09
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to NT$97.00, the stock trades at a trailing P/E ratio of 51.9x. Average trailing P/E is 24x in the Electronic industry in Taiwan. Total returns to shareholders of 309% over the past three years. Announcement • Jan 13
Aurotek Corporation, Annual General Meeting, May 29, 2026 Aurotek Corporation, Annual General Meeting, May 29, 2026, at 09:00 Taipei Standard Time. Location: 1 floor no,399, jui kuang rd., neihu district, taipei city Taiwan New Risk • Nov 18
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: 6.6% Last year net profit margin: 9.6% 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 Earnings have declined by 5.4% per year over the past 5 years. High level of non-cash earnings (26% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (7.3% average weekly change). Profit margins are more than 30% lower than last year (6.6% net profit margin). New Risk • Aug 16
New major risk - Revenue and earnings growth Earnings have declined by 3.2% per year over the past 5 years. 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 declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. 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 Risks Share price has been highly volatile over the past 3 months (8.1% average weekly change). Earnings have declined by 3.2% per year over the past 5 years. High level of non-cash earnings (30% accrual ratio). Reported Earnings • Aug 16
Second quarter 2025 earnings released: EPS: NT$0.28 (vs NT$0.66 in 2Q 2024) Second quarter 2025 results: EPS: NT$0.28 (down from NT$0.66 in 2Q 2024). Revenue: NT$602.5m (up 74% from 2Q 2024). Net income: NT$23.3m (down 57% from 2Q 2024). Profit margin: 3.9% (down from 16% in 2Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has increased by 82% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Aug 11
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to NT$140, the stock trades at a trailing P/E ratio of 66x. Average trailing P/E is 21x in the Electronic industry in Taiwan. Total returns to shareholders of 529% over the past three years. Announcement • Jun 20
Aurotek Corporation Approves the Cash Dividend, Payable on July 31, 2025 Aurotek Corporation at its shareholders meeting held on June 18, 2025, approved the cash dividend of TWD 124,184,540 (TWD 1.5 per share). Ex-rights (ex-dividend) trading date is July 8, 2025. Ex-rights (ex-dividend) record date is July 14, 2025. Payment date of common stock cash dividend distribution July 31, 2025. Declared Dividend • Jun 20
Dividend of NT$1.50 announced Shareholders will receive a dividend of NT$1.50. Ex-date: 8th July 2025 Payment date: 31st July 2025 Dividend yield will be 1.5%, which is lower than the industry average of 4.0%. Sustainability & Growth Dividend is covered by earnings (71% 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 4.1% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 26% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • May 16
First quarter 2025 earnings released: EPS: NT$0.37 (vs NT$0.35 in 1Q 2024) First quarter 2025 results: EPS: NT$0.37 (up from NT$0.35 in 1Q 2024). Revenue: NT$487.2m (up 68% from 1Q 2024). Net income: NT$30.2m (up 2.8% from 1Q 2024). Profit margin: 6.2% (down from 10% in 1Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has increased by 68% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • May 15
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to NT$113, the stock trades at a trailing P/E ratio of 53.3x. Average trailing P/E is 20x in the Electronic industry in Taiwan. Total returns to shareholders of 453% over the past three years. Announcement • May 01
Aurotek Corporation to Report Q1, 2025 Results on May 08, 2025 Aurotek Corporation announced that they will report Q1, 2025 results on May 08, 2025 Valuation Update With 7 Day Price Move • Apr 30
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to NT$95.70, the stock trades at a trailing P/E ratio of 45.3x. Average trailing P/E is 19x in the Electronic industry in Taiwan. Total returns to shareholders of 363% 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$66.80, the stock trades at a trailing P/E ratio of 31.6x. Average trailing P/E is 17x in the Electronic industry in Taiwan. Total returns to shareholders of 208% over the past three years. New Risk • Mar 31
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. Dividend per share is over 7x cash flows per share. Dividend yield: 1.8% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. 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 Risk Share price has been highly volatile over the past 3 months (10% average weekly change). Minor Risk Dividend is not well covered by cash flows (dividend per share is over 7x cash flows per share). Reported Earnings • Mar 19
Full year 2024 earnings released: EPS: NT$2.11 (vs NT$0.95 in FY 2023) Full year 2024 results: EPS: NT$2.11 (up from NT$0.95 in FY 2023). Revenue: NT$1.66b (up 69% from FY 2023). Net income: NT$174.9m (up 122% from FY 2023). Profit margin: 11% (up from 8.0% 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 30% per year but the company’s share price has increased by 55% per year, which means it is well ahead of earnings. Announcement • Mar 12
Aurotek Corporation, Annual General Meeting, Jun 04, 2025 Aurotek Corporation, Annual General Meeting, Jun 04, 2025. Location: 1 floor no,399, jui kuang rd., neihu district, taipei city Taiwan Announcement • Mar 04
Aurotek Corporation to Report Fiscal Year 2024 Results on Mar 11, 2025 Aurotek Corporation announced that they will report fiscal year 2024 results on Mar 11, 2025 Valuation Update With 7 Day Price Move • Mar 03
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to NT$114, the stock trades at a trailing P/E ratio of 73x. Average trailing P/E is 24x in the Electronic industry in Taiwan. Total returns to shareholders of 423% over the past three years. Valuation Update With 7 Day Price Move • Jan 20
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to NT$117, the stock trades at a trailing P/E ratio of 74.6x. Average trailing P/E is 22x in the Electronic industry in Taiwan. Total returns to shareholders of 431% over the past three years. Valuation Update With 7 Day Price Move • Jan 03
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to NT$103, the stock trades at a trailing P/E ratio of 66x. Average trailing P/E is 23x in the Electronic industry in Taiwan. Total returns to shareholders of 323% over the past three years. Valuation Update With 7 Day Price Move • Dec 12
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to NT$70.90, the stock trades at a trailing P/E ratio of 45.4x. Average trailing P/E is 23x in the Electronic industry in Taiwan. Total returns to shareholders of 178% over the past three years. Reported Earnings • Nov 18
Third quarter 2024 earnings released: EPS: NT$0.51 (vs NT$0.21 in 3Q 2023) Third quarter 2024 results: EPS: NT$0.51 (up from NT$0.21 in 3Q 2023). Revenue: NT$467.6m (up 109% from 3Q 2023). Net income: NT$41.9m (up 135% from 3Q 2023). Profit margin: 9.0% (up from 8.0% in 3Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has increased by 22% per year, which means it is well ahead of earnings. Announcement • Nov 02
Aurotek Corporation to Report Q3, 2024 Results on Nov 08, 2024 Aurotek Corporation announced that they will report Q3, 2024 results on Nov 08, 2024 Reported Earnings • Aug 13
Second quarter 2024 earnings released: EPS: NT$0.65 (vs NT$0.36 in 2Q 2023) Second quarter 2024 results: EPS: NT$0.65 (up from NT$0.36 in 2Q 2023). Revenue: NT$346.4m (up 38% from 2Q 2023). Net income: NT$54.2m (up 82% from 2Q 2023). Profit margin: 16% (up from 12% 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 33% per year but the company’s share price has increased by 33% per year, which means it is well ahead of earnings. Announcement • Aug 02
Aurotek Corporation to Report Q2, 2024 Results on Aug 08, 2024 Aurotek Corporation announced that they will report Q2, 2024 results on Aug 08, 2024 Valuation Update With 7 Day Price Move • Jul 05
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to NT$64.60, the stock trades at a trailing P/E ratio of 66.2x. Average trailing P/E is 25x in the Electronic industry in Taiwan. Total returns to shareholders of 180% over the past three years. Declared Dividend • Jun 24
Dividend of NT$1.00 announced Shareholders will receive a dividend of NT$1.00. Ex-date: 9th July 2024 Payment date: 1st August 2024 Dividend yield will be 1.8%, which is lower than the industry average of 4.0%. Sustainability & Growth Dividend is not covered by earnings (103% earnings payout ratio). However, it is covered by cash flows (85% cash payout ratio). The dividend has increased by an average of 5.2% 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 14% to bring the payout ratio under control, which is more than the 10% EPS growth achieved over the last 5 years. Valuation Update With 7 Day Price Move • May 31
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$57.30, the stock trades at a trailing P/E ratio of 58.7x. Average trailing P/E is 24x in the Electronic industry in Taiwan. Total returns to shareholders of 205% over the past three years. Reported Earnings • May 11
First quarter 2024 earnings released: EPS: NT$0.36 (vs NT$0.33 in 1Q 2023) First quarter 2024 results: EPS: NT$0.36 (up from NT$0.33 in 1Q 2023). Revenue: NT$290.0m (up 9.9% from 1Q 2023). Net income: NT$29.4m (up 7.3% from 1Q 2023). Profit margin: 10% (in line with 1Q 2023). 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 32% per year, which means it is well ahead of earnings. Announcement • May 02
Aurotek Corporation to Report Q1, 2024 Results on May 08, 2024 Aurotek Corporation announced that they will report Q1, 2024 results at 9:00 AM, Taipei Standard Time on May 08, 2024 Valuation Update With 7 Day Price Move • Apr 26
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to NT$45.65, the stock trades at a trailing P/E ratio of 48x. Average trailing P/E is 24x in the Electronic industry in Taiwan. Total returns to shareholders of 130% over the past three years. Valuation Update With 7 Day Price Move • Apr 10
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to NT$43.75, the stock trades at a trailing P/E ratio of 46x. Average trailing P/E is 25x in the Electronic industry in Taiwan. Total returns to shareholders of 114% over the past three years. New Risk • Apr 08
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 6.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by earnings (105% payout ratio). Share price has been volatile over the past 3 months (6.3% average weekly change). Profit margins are more than 30% lower than last year (8.0% net profit margin). Valuation Update With 7 Day Price Move • Mar 27
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$35.15, the stock trades at a trailing P/E ratio of 36.9x. Average trailing P/E is 23x in the Electronic industry in Taiwan. Total returns to shareholders of 76% over the past three years. Buy Or Sell Opportunity • Mar 19
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 23% to NT$30.65. The fair value is estimated to be NT$25.46, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 14% over the last 3 years. Earnings per share has declined by 11%. Reported Earnings • Mar 17
Full year 2023 earnings released: EPS: NT$0.95 (vs NT$2.58 in FY 2022) Full year 2023 results: EPS: NT$0.95 (down from NT$2.58 in FY 2022). Revenue: NT$983.5m (down 46% from FY 2022). Net income: NT$78.8m (down 63% from FY 2022). Profit margin: 8.0% (down from 12% in FY 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Announcement • Mar 16
Aurotek Corporation, Annual General Meeting, Jun 18, 2024 Aurotek Corporation, Annual General Meeting, Jun 18, 2024. Location: NO.399, Rueiguang Rd., Taipei 114, Taiwan Taipei Taiwan Agenda: To consider 2023 business report; to consider Audit Committee's review of the 2023 annual final accounting books and statements; To Distribution of Employees Bonus and Directors Remuneration for 2023 (d)The Distribution of Cash dividend for 2023. Announcement • Dec 01
Aurotek Corporation Announces Resignation of Wang,Ya-Chieh as Accounting Officer Aurotek Corporation announced change of accounting officer. Name, title, and resume of the previous position holder: Wang,Ya-Chieh /Accounting officer /AUROTEK CORPORATION. Reason for the change: Resignation. Effective date: November 30, 2023. The new Accounting officer will be announced after the approval of the board of directors. Reported Earnings • Aug 14
Second quarter 2023 earnings released: EPS: NT$0.36 (vs NT$0.83 in 2Q 2022) Second quarter 2023 results: EPS: NT$0.36 (down from NT$0.83 in 2Q 2022). Revenue: NT$250.6m (down 52% from 2Q 2022). Net income: NT$29.9m (down 57% from 2Q 2022). Profit margin: 12% (down from 13% in 2Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 17% per year whereas the company’s share price has increased by 18% per year. Announcement • Aug 11
Aurotek Corporation Announces the Appointment of Chang, Yad-Tsan as Chief Information Security Officer Aurotek Corporation announced the appointment of Chang, Yad-Tsan as Chief Information Security Officer. Name, title, and resume of the new position holder: Chang, Yad-Tsan /Aurotek Corporation/Manager. Effective date: August 10, 2023. Reason for the change: New replacement. Upcoming Dividend • Jun 27
Upcoming dividend of NT$1.80 per share at 6.2% yield Eligible shareholders must have bought the stock before 04 July 2023. Payment date: 25 July 2023. Payout ratio is on the higher end at 82%, however this is supported by cash flows. Trailing yield: 6.2%. Within top quartile of Taiwanese dividend payers (5.5%). Higher than average of industry peers (4.2%). Announcement • Jun 15
Aurotek Corporation Approves Cash Dividend, Payable on July 25, 2023 Aurotek Corporation at its shareholder meeting held on June 14, 2023, approved cash dividend of TWD 149,021,448 (TWD 1.8 per share). The dividend is payable on July 25, 2023 with Ex-rights (ex-dividend) trading date of July 4, 2023 and Ex-rights (ex-dividend) record date of July 10, 2023. Valuation Update With 7 Day Price Move • Jun 01
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to NT$33.30, the stock trades at a trailing P/E ratio of 12.9x. Average trailing P/E is 16x in the Electronic industry in Taiwan. Total returns to shareholders of 142% over the past three years. Reported Earnings • Apr 01
Full year 2022 earnings released: EPS: NT$2.58 (vs NT$3.20 in FY 2021) Full year 2022 results: EPS: NT$2.58 (down from NT$3.20 in FY 2021). Revenue: NT$1.80b (down 8.1% from FY 2021). Net income: NT$213.9m (down 19% from FY 2021). Profit margin: 12% (down from 14% in FY 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has only increased by 34% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jan 06
Investor sentiment improved over the past week After last week's 20% share price gain to NT$24.20, the stock trades at a trailing P/E ratio of 9.2x. Average trailing P/E is 11x in the Electronic industry in Taiwan. Total returns to shareholders of 77% over the past three years. Announcement • Jan 05
Aurotek Corporation Announces Executive Changes Aurotek Corporation announced the new appointment of chairman of the Board. Name of the previous position holder:Chang, Yung-Chung; Resume of the previous position holder: Chairman of the board of Aurotek Marketing Consultant Corporation; Name of the new position holder: Cheng, Tien-Chong; Resume of the new position holder: President, Texas Instruments AsiaPresident, HP China. Reason for the change: new appointment. Effective date of the new appointment is January 04, 2023. Announcement • Jan 03
Aurotek Corporation Announces Death of Chang, Yung-Chung, Chairman of the Board Aurotek Corporation announced that death of Chairman of the board, Chang, Yung-Chung. The company is noted on 02 January 2023. Board Change • Nov 16
Less than half of directors are independent There are 6 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 6 new directors. 4 experienced directors. No highly experienced directors. 3 independent directors (4 non-independent directors). Director & Deputy GM I-Sheng Chang is the most experienced director on the board, commencing their role in 2020. Independent Director John Huang was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Reported Earnings • Nov 13
Third quarter 2022 earnings released: EPS: NT$0.71 (vs NT$0.83 in 3Q 2021) Third quarter 2022 results: EPS: NT$0.71 (down from NT$0.83 in 3Q 2021). Revenue: NT$464.1m (down 13% from 3Q 2021). Net income: NT$58.8m (down 14% from 3Q 2021). Profit margin: 13% (in line with 3Q 2021). Over the last 3 years on average, earnings per share has increased by 51% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 14
Second quarter 2022 earnings released: EPS: NT$0.83 (vs NT$0.66 in 2Q 2021) Second quarter 2022 results: EPS: NT$0.83 (up from NT$0.66 in 2Q 2021). Revenue: NT$521.8m (down 6.5% from 2Q 2021). Net income: NT$69.1m (up 28% from 2Q 2021). Profit margin: 13% (up from 9.7% in 2Q 2021). Over the last 3 years on average, earnings per share has increased by 60% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jul 04
Upcoming dividend of NT$1.80 per share Eligible shareholders must have bought the stock before 11 July 2022. Payment date: 03 August 2022. Payout ratio is a comfortable 70% and this is well supported by cash flows. Trailing yield: 8.3%. Within top quartile of Taiwanese dividend payers (6.7%). Higher than average of industry peers (4.9%). Announcement • Jun 23
Aurotek Corporation Approves Cash Dividend for the Year 2021 Aurotek Corporation held its shareholders meeting on June 22, 2022, Ratified 2021 earnings distribution of TWD 1.80 cash dividend per common share. Buying Opportunity • Jun 20
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 14%. The fair value is estimated to be NT$29.56, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 64%. Buying Opportunity • May 24
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 13%. The fair value is estimated to be NT$29.48, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 64%. Reported Earnings • May 12
First quarter 2022 earnings released: EPS: NT$0.72 (vs NT$1.36 in 1Q 2021) First quarter 2022 results: EPS: NT$0.72 (down from NT$1.36 in 1Q 2021). Revenue: NT$506.5m (up 19% from 1Q 2021). Net income: NT$59.8m (down 47% from 1Q 2021). Profit margin: 12% (down from 27% in 1Q 2021). Over the last 3 years on average, earnings per share has increased by 64% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Buying Opportunity • May 09
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 12%. The fair value is estimated to be NT$29.51, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.7% over the last 3 years. Earnings per share has grown by 68%. Board Change • Apr 27
Less than half of directors are independent There are 6 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 6 new directors. 4 experienced directors. No highly experienced directors. 3 independent directors (4 non-independent directors). Director & Deputy GM I-Sheng Chang is the most experienced director on the board, commencing their role in 2020. Independent Director John Huang was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Reported Earnings • Mar 19
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: NT$3.20 (up from NT$0.96 in FY 2020). Revenue: NT$1.96b (up 22% from FY 2020). Net income: NT$265.0m (up 235% from FY 2020). Profit margin: 14% (up from 4.9% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 68% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 12
Third quarter 2021 earnings released: EPS NT$0.83 (vs NT$0.14 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$531.8m (up 48% from 3Q 2020). Net income: NT$68.7m (up 474% from 3Q 2020). Profit margin: 13% (up from 3.3% 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 69% per year but the company’s share price has only increased by 30% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 18
Second quarter 2021 earnings released: EPS NT$0.65 (vs NT$0.55 in 2Q 2020) The company reported a solid second quarter result with improved earnings and revenues, although profit margins were flat. Second quarter 2021 results: Revenue: NT$557.8m (up 18% from 2Q 2020). Net income: NT$54.2m (up 19% from 2Q 2020). Profit margin: 9.7% (in line with 2Q 2020). Over the last 3 years on average, earnings per share has increased by 64% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Aug 16
Upcoming dividend of NT$0.50 per share Eligible shareholders must have bought the stock before 23 August 2021. Payment date: 15 September 2021. Trailing yield: 1.6%. Lower than top quartile of Taiwanese dividend payers (5.2%). Lower than average of industry peers (3.2%). Valuation Update With 7 Day Price Move • Jul 30
Investor sentiment deteriorated over the past week After last week's 18% share price decline to NT$32.20, the stock trades at a trailing P/E ratio of 14.6x. Average trailing P/E is 19x in the Electronic industry in Taiwan. Total returns to shareholders of 73% over the past three years. Valuation Update With 7 Day Price Move • Jul 09
Investor sentiment improved over the past week After last week's 21% share price gain to NT$29.80, the stock trades at a trailing P/E ratio of 13.5x. Average trailing P/E is 18x in the Electronic industry in Taiwan. Total returns to shareholders of 54% over the past three years. Valuation Update With 7 Day Price Move • May 16
Investor sentiment deteriorated over the past week After last week's 20% share price decline to NT$20.70, the stock trades at a trailing P/E ratio of 9.4x. Average trailing P/E is 16x in the Electronic industry in Taiwan. Total returns to shareholders of 15% over the past three years. Reported Earnings • May 11
First quarter 2021 earnings released: EPS NT$1.36 (vs NT$0.11 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$424.2m (up 24% from 1Q 2020). Net income: NT$112.3m (up NT$103.3m from 1Q 2020). Profit margin: 27% (up from 2.6% in 1Q 2020). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Reported Earnings • Mar 19
Full year 2020 earnings released: EPS NT$0.96 (vs NT$0.60 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$1.60b (up 3.9% from FY 2019). Net income: NT$79.2m (up 61% from FY 2019). Profit margin: 4.9% (up from 3.2% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Announcement • Mar 16
Aurotek Corporation, Annual General Meeting, Jun 07, 2021 Aurotek Corporation, Annual General Meeting, Jun 07, 2021. Location: 399, Rueiguang Rd., 1F near the east door Liberty Square Convention Center Taipei Taiwan Agenda: To consider 2020 Business Report; to consider Audit Committee's Review Report on 2020 Financial Statements; to consider the Report of distribution on 2020 Employees' Compensation and Directors and Supervisors' Compensation; to consider and acknowledge 2020 Business Report and Financial Statements; and to consider other matters. Is New 90 Day High Low • Feb 23
New 90-day high: NT$20.25 The company is up 27% from its price of NT$16.00 on 25 November 2020. The Taiwanese market is up 18% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is up 25% over the same period. Valuation Update With 7 Day Price Move • Feb 23
Investor sentiment improved over the past week After last week's 19% share price gain to NT$20.25, the stock is trading at a trailing P/E ratio of 19.3x, up from the previous P/E ratio of 16.1x. This compares to an average P/E of 19x in the Electronic industry in Taiwan. Total return to shareholders over the past three years is a loss of 20%. Valuation Update With 7 Day Price Move • Jan 28
Investor sentiment improved over the past week After last week's 16% share price gain to NT$19.80, the stock is trading at a trailing P/E ratio of 18.9x, up from the previous P/E ratio of 16.2x. This compares to an average P/E of 18x in the Electronic industry in Taiwan. Total return to shareholders over the past three years is a loss of 22%. Is New 90 Day High Low • Jan 11
New 90-day high: NT$18.00 The company is up 17% from its price of NT$15.35 on 13 October 2020. The Taiwanese market is up 19% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 24% over the same period. Is New 90 Day High Low • Dec 25
New 90-day high: NT$16.80 The company is up 11% from its price of NT$15.10 on 25 September 2020. The Taiwanese market is up 16% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 19% over the same period.