Buy Or Sell Opportunity • Apr 22
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 14% to NT$62.20. The fair value is estimated to be NT$51.27, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 4.1% over the last 3 years. Earnings per share has declined by 36%. Announcement • Mar 02
Unictron Technologies Corporation, Annual General Meeting, May 28, 2026 Unictron Technologies Corporation, Annual General Meeting, May 28, 2026. Location: 2 floor no,428, k`o wang rd., longtan district, taoyuan city Taiwan Reported Earnings • Nov 09
Third quarter 2025 earnings released: EPS: NT$0.79 (vs NT$0.34 in 3Q 2024) Third quarter 2025 results: EPS: NT$0.79 (up from NT$0.34 in 3Q 2024). Revenue: NT$350.0m (up 7.0% from 3Q 2024). Net income: NT$36.9m (up 134% from 3Q 2024). Profit margin: 11% (up from 4.8% in 3Q 2024). Revenue is forecast to grow 15% 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 fallen by 37% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Reported Earnings • Aug 06
Second quarter 2025 earnings released: EPS: NT$0.60 (vs NT$0.47 in 2Q 2024) Second quarter 2025 results: EPS: NT$0.60 (up from NT$0.47 in 2Q 2024). Revenue: NT$351.3m (up 14% from 2Q 2024). Net income: NT$27.9m (up 27% from 2Q 2024). Profit margin: 7.9% (up from 7.1% in 2Q 2024). Revenue is forecast to grow 14% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 40% per year but the company’s share price has only fallen by 15% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Jun 13
Upcoming dividend of NT$2.50 per share Eligible shareholders must have bought the stock before 20 June 2025. Payment date: 18 July 2025. Payout ratio is on the higher end at 89%, however this is supported by cash flows. Trailing yield: 3.3%. Lower than top quartile of Taiwanese dividend payers (5.2%). In line with average of industry peers (3.3%). Announcement • May 28
Unictron Technologies Corporation Approves Cash Dividends for the Year 2024 Unictron Technologies Corporation at its shareholders meeting held on May 27, 2025, approved cash dividends for each ordinary share being TWD 1.85 for the year 2024. Reported Earnings • May 05
First quarter 2025 earnings released: EPS: NT$0.50 (vs NT$0.54 in 1Q 2024) First quarter 2025 results: EPS: NT$0.50 (down from NT$0.54 in 1Q 2024). Revenue: NT$323.6m (up 6.2% from 1Q 2024). Net income: NT$23.6m (down 5.9% from 1Q 2024). Profit margin: 7.3% (down from 8.2% in 1Q 2024). Over the last 3 years on average, earnings per share has fallen by 39% per year but the company’s share price has only fallen by 20% per year, which means it has not declined as severely as earnings. Announcement • Apr 22
Unictron Technologies Corporation to Report Q1, 2025 Results on Apr 29, 2025 Unictron Technologies Corporation announced that they will report Q1, 2025 results on Apr 29, 2025 Buy Or Sell Opportunity • Apr 10
Now 32% overvalued Over the last 90 days, the stock has fallen 14% to NT$51.00. The fair value is estimated to be NT$38.77, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 12% over the last 3 years. Earnings per share has declined by 35%. 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$49.95, the stock trades at a trailing P/E ratio of 23.7x. Average trailing P/E is 17x in the Electronic industry in Taiwan. Total loss to shareholders of 48% over the past three years. New Risk • Mar 13
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 98% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 1.7% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (8.0% net profit margin). Market cap is less than US$100m (NT$3.13b market cap, or US$95.0m). Reported Earnings • Mar 05
Full year 2024 earnings released: EPS: NT$2.10 (vs NT$4.18 in FY 2023) Full year 2024 results: EPS: NT$2.10 (down from NT$4.18 in FY 2023). Revenue: NT$1.23b (down 11% from FY 2023). Net income: NT$98.6m (down 50% from FY 2023). Profit margin: 8.0% (down from 14% in FY 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has only fallen by 18% per year, which means it has not declined as severely as earnings. Announcement • Mar 03
Unictron Technologies Corporation, Annual General Meeting, May 27, 2025 Unictron Technologies Corporation, Annual General Meeting, May 27, 2025. Location: 2 floor no,428, k`o wang rd., longtan district, taoyuan city Taiwan New Risk • Feb 22
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 6.1% 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 (188% payout ratio). Share price has been volatile over the past 3 months (6.1% average weekly change). Profit margins are more than 30% lower than last year (7.3% net profit margin). Market cap is less than US$100m (NT$3.21b market cap, or US$97.7m). Announcement • Feb 20
Unictron Technologies Corporation to Report Fiscal Year 2024 Results on Feb 27, 2025 Unictron Technologies Corporation announced that they will report fiscal year 2024 results on Feb 27, 2025 Valuation Update With 7 Day Price Move • Dec 02
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$68.60, the stock trades at a trailing P/E ratio of 35.8x. Average forward P/E is 15x in the Electronic industry in Taiwan. Total loss to shareholders of 57% over the past three years. Reported Earnings • Nov 05
Third quarter 2024 earnings released: EPS: NT$0.34 (vs NT$1.61 in 3Q 2023) Third quarter 2024 results: EPS: NT$0.34 (down from NT$1.61 in 3Q 2023). Revenue: NT$327.1m (down 21% from 3Q 2023). Net income: NT$15.8m (down 79% from 3Q 2023). Profit margin: 4.8% (down from 18% in 3Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 14% 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 fallen by 29% per year whereas the company’s share price has fallen by 24% per year. Announcement • Oct 23
Unictron Technologies Corporation to Report Q3, 2024 Results on Oct 30, 2024 Unictron Technologies Corporation announced that they will report Q3, 2024 results on Oct 30, 2024 Buy Or Sell Opportunity • Sep 06
Now 22% overvalued Over the last 90 days, the stock has fallen 19% to NT$66.50. The fair value is estimated to be NT$54.46, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 8.8% over the last 3 years. Earnings per share has declined by 19%. Buy Or Sell Opportunity • Aug 07
Now 22% overvalued Over the last 90 days, the stock has fallen 18% to NT$66.10. The fair value is estimated to be NT$54.15, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 8.8% over the last 3 years. Earnings per share has declined by 19%. New Risk • Aug 05
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: NT$3.01b (US$92.4m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 113% Cash payout ratio: 97% Minor Risk Market cap is less than US$100m (NT$3.01b market cap, or US$92.4m). Reported Earnings • Aug 02
Second quarter 2024 earnings released: EPS: NT$0.47 (vs NT$1.11 in 2Q 2023) Second quarter 2024 results: EPS: NT$0.47 (down from NT$1.11 in 2Q 2023). Revenue: NT$308.3m (down 15% from 2Q 2023). Net income: NT$21.9m (down 58% from 2Q 2023). Profit margin: 7.1% (down from 14% in 2Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 8.5% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 19% per year and the company’s share price has also fallen by 19% per year. Announcement • Jul 23
Unictron Technologies Corporation to Report Q2, 2024 Results on Jul 30, 2024 Unictron Technologies Corporation announced that they will report Q2, 2024 results on Jul 30, 2024 Declared Dividend • Jun 03
Dividend reduced to NT$3.60 Dividend of NT$3.60 is 28% lower than last year. Ex-date: 4th July 2024 Payment date: 5th August 2024 Dividend yield will be 4.5%, which is higher than the industry average of 4.0%. Sustainability & Growth Dividend is not adequately covered by earnings (94% earnings payout ratio). However, it is covered by cash flows (77% cash payout ratio). The dividend has increased over the past 3 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 4.3% to bring the payout ratio under control, which is more than the 1.6% EPS growth achieved over the last 5 years. Announcement • Jun 01
Unictron Technologies Corporation Announces Dividend, Payable on August 5, 2024 Unictron Technologies Corporation announces a dividend TWD 3.6 allocated per share. Cash dividends to common shareholders is TWD 168,751,170. Ex-rights (ex-dividend) trading date is July 4, 2024, Ex-dividend Record Date is July 10, 2024. Payment date of common stock cash dividend distribution is August 5, 2024. Reported Earnings • May 04
First quarter 2024 earnings released: EPS: NT$0.54 (vs NT$0.89 in 1Q 2023) First quarter 2024 results: EPS: NT$0.54 (down from NT$0.89 in 1Q 2023). Revenue: NT$304.6m (down 1.8% from 1Q 2023). Net income: NT$25.1m (down 40% from 1Q 2023). Profit margin: 8.2% (down from 13% in 1Q 2023). The decrease in margin was primarily driven by higher expenses. Revenue is forecast to grow 3.4% 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 fallen by 10% per year whereas the company’s share price has fallen by 12% per year. Reported Earnings • Feb 29
Full year 2023 earnings released: EPS: NT$4.18 (vs NT$5.69 in FY 2022) Full year 2023 results: EPS: NT$4.18 (down from NT$5.69 in FY 2022). Revenue: NT$1.38b (down 7.9% from FY 2022). Net income: NT$196.0m (down 27% from FY 2022). Profit margin: 14% (down from 18% 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 2% per year but the company’s share price has fallen by 10% per year, which means it is performing significantly worse than earnings. Announcement • Feb 28
Unictron Technologies Corporation, Annual General Meeting, May 31, 2024 Unictron Technologies Corporation, Annual General Meeting, May 31, 2024. Location: Aspire Resort, 208 Conference Room 2F, No. 428, Kewang Road, Longtan District Tao-Yuan City Taiwan Agenda: To consider 2023 business report; to consider 2023 Audit Committee's review report; to consider Report on 2023 employees' and directors' remuneration; to consider report on 2023 earnings distribution of cash dividends; to consider amendment of Rules of Procedure for Meetings of Board of Directors; to acknowledge 2023 business report and financial statements; to acknowledge 2023 earnings distribution; and to consider other related matters. Announcement • Jan 05
Unictron Technologies Corporation Appoints Chris Wang as Institutional Director Unictron Technologies Corporation announced the appointment of Chris Wang as institutional director of the company. Resume of the new position holder:Vice President of IT Peripheral of Darfon Electronics Corp. Reason for the change: Darfon Electronics Corp. assigned a new representative to serve as institutional director. Effective date of the new appointment: January 3, 2024. Reported Earnings • Nov 04
Third quarter 2023 earnings released: EPS: NT$1.61 (vs NT$1.26 in 3Q 2022) Third quarter 2023 results: EPS: NT$1.61 (up from NT$1.26 in 3Q 2022). Revenue: NT$412.8m (up 23% from 3Q 2022). Net income: NT$75.5m (up 28% from 3Q 2022). Profit margin: 18% (in line with 3Q 2022). Valuation Update With 7 Day Price Move • Sep 12
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$103, the stock trades at a trailing P/E ratio of 23.2x. Average trailing P/E is 18x in the Electronic industry in Taiwan. Total returns to shareholders of 23% over the past year. Reported Earnings • Aug 05
Second quarter 2023 earnings released: EPS: NT$1.11 (vs NT$1.54 in 2Q 2022) Second quarter 2023 results: EPS: NT$1.11 (down from NT$1.54 in 2Q 2022). Revenue: NT$361.6m (down 6.9% from 2Q 2022). Net income: NT$52.0m (down 29% from 2Q 2022). Profit margin: 14% (down from 19% in 2Q 2022). The decrease in margin was driven by lower revenue. Upcoming Dividend • Jul 04
Upcoming dividend of NT$5.00 per share at 5.6% yield Eligible shareholders must have bought the stock before 11 July 2023. Payment date: 10 August 2023. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 5.6%. Within top quartile of Taiwanese dividend payers (5.4%). Higher than average of industry peers (4.2%). Reported Earnings • May 08
First quarter 2023 earnings released: EPS: NT$0.89 (vs NT$1.63 in 1Q 2022) First quarter 2023 results: EPS: NT$0.89 (down from NT$1.63 in 1Q 2022). Revenue: NT$310.1m (down 30% from 1Q 2022). Net income: NT$41.6m (down 47% from 1Q 2022). Profit margin: 13% (down from 18% in 1Q 2022). The decrease in margin was driven by lower revenue. Reported Earnings • Mar 08
Full year 2022 earnings released: EPS: NT$5.68 (vs NT$6.60 in FY 2021) Full year 2022 results: EPS: NT$5.68 (down from NT$6.60 in FY 2021). Revenue: NT$1.50b (down 12% from FY 2021). Net income: NT$269.8m (down 7.3% from FY 2021). Profit margin: 18% (in line with FY 2021). Reported Earnings • Nov 16
Third quarter 2022 earnings released: EPS: NT$1.02 (vs NT$1.94 in 3Q 2021) Third quarter 2022 results: EPS: NT$1.02 (down from NT$1.94 in 3Q 2021). Revenue: NT$334.0m (down 28% from 3Q 2021). Net income: NT$48.3m (down 43% from 3Q 2021). Profit margin: 14% (down from 18% in 3Q 2021). The decrease in margin was driven by lower revenue. Valuation Update With 7 Day Price Move • Sep 05
Investor sentiment improved over the past week After last week's 19% share price gain to NT$98.50, the stock trades at a trailing P/E ratio of 15.4x. Average trailing P/E is 13x in the Electronic industry in Taiwan. Total loss to shareholders of 19% over the past year. Upcoming Dividend • Jun 30
Upcoming dividend of NT$5.50 per share Eligible shareholders must have bought the stock before 07 July 2022. Payment date: 02 August 2022. Payout ratio is on the higher end at 79%, however this is supported by cash flows. Trailing yield: 6.3%. Lower than top quartile of Taiwanese dividend payers (6.4%). Higher than average of industry peers (4.6%). Reported Earnings • May 02
First quarter 2022 earnings released: EPS: NT$1.63 (vs NT$1.28 in 1Q 2021) First quarter 2022 results: EPS: NT$1.63 (up from NT$1.28 in 1Q 2021). Revenue: NT$439.8m (up 14% from 1Q 2021). Net income: NT$78.1m (up 39% from 1Q 2021). Profit margin: 18% (up from 14% in 1Q 2021). The increase in margin was driven by higher revenue. Announcement • Apr 02
Unictron Technologies Corporation, Annual General Meeting, Jun 22, 2022 Unictron Technologies Corporation, Annual General Meeting, Jun 22, 2022. Reported Earnings • Mar 09
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: NT$6.60 (up from NT$4.01 in FY 2020). Revenue: NT$1.71b (up 32% from FY 2020). Net income: NT$291.0m (up 71% from FY 2020). Profit margin: 17% (up from 13% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Valuation Update With 7 Day Price Move • Jan 25
Investor sentiment deteriorated over the past week After last week's 16% share price decline to NT$144, the stock trades at a trailing P/E ratio of 25.2x. Average trailing P/E is 17x in the Electronic industry in Taiwan. Total returns to shareholders of 67% over the past year. Valuation Update With 7 Day Price Move • Dec 09
Investor sentiment improved over the past week After last week's 17% share price gain to NT$216, the stock trades at a trailing P/E ratio of 34.6x. Average trailing P/E is 17x in the Electronic industry in Taiwan. Total returns to shareholders of 138% over the past year. Valuation Update With 7 Day Price Move • Nov 17
Investor sentiment improved over the past week After last week's 20% share price gain to NT$171, the stock trades at a trailing P/E ratio of 27.4x. Average trailing P/E is 17x in the Electronic industry in Taiwan. Total returns to shareholders of 64% over the past year. Valuation Update With 7 Day Price Move • Sep 28
Investor sentiment improved over the past week After last week's 17% share price gain to NT$152, the stock trades at a trailing P/E ratio of 28.9x. Average trailing P/E is 16x in the Electronic industry in Taiwan. Reported Earnings • Aug 09
Second quarter 2021 earnings released: EPS NT$1.83 (vs NT$0.93 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: NT$436.7m (up 72% from 2Q 2020). Net income: NT$79.9m (up 105% from 2Q 2020). Profit margin: 18% (up from 15% in 2Q 2020). The increase in margin was driven by higher revenue. Reported Earnings • May 02
Full year 2020 earnings released: EPS NT$4.01 (vs NT$3.89 in FY 2019) The company reported a solid full year result with improved earnings and revenues, although profit margins were flat. Full year 2020 results: Revenue: NT$1.29b (up 16% from FY 2019). Net income: NT$170.6m (up 9.7% from FY 2019). Profit margin: 13% (in line with FY 2019). Valuation Update With 7 Day Price Move • Apr 11
Investor sentiment improved over the past week After last week's 18% share price gain to NT$149, the stock trades at a trailing P/E ratio of 43.9x. Average trailing P/E is 20x in the Electronic industry in Taiwan. Valuation Update With 7 Day Price Move • Mar 17
Investor sentiment improved over the past week After last week's 15% share price gain to NT$123, the stock trades at a trailing P/E ratio of 36.2x. Average trailing P/E is 18x in the Electronic industry in Taiwan. Is New 90 Day High Low • Feb 19
New 90-day high: NT$119 The company is up 2.0% from its price of NT$116 on 20 November 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. Valuation Update With 7 Day Price Move • Feb 19
Investor sentiment improved over the past week After last week's 27% share price gain to NT$119, the stock is trading at a trailing P/E ratio of 34.9x, up from the previous P/E ratio of 27.4x. This compares to an average P/E of 18x in the Electronic industry in Taiwan.