Major Estimate Revision • Apr 11
Consensus EPS estimates fall by 18%, revenue upgraded The consensus outlook for fiscal year 2026 has been updated. 2026 revenue forecast increased from NT$4.83b to NT$5.11b. EPS estimate fell from NT$8.58 to NT$7.08 per share. Net income forecast to grow 136% next year vs 82% growth forecast for Communications industry in Taiwan. Consensus price target broadly unchanged at NT$133. Share price rose 2.9% to NT$91.10 over the past week. Reported Earnings • Mar 04
Full year 2025 earnings released: EPS: NT$3.00 (vs NT$11.36 in FY 2024) Full year 2025 results: EPS: NT$3.00 (down from NT$11.36 in FY 2024). Revenue: NT$3.95b (down 14% from FY 2024). Net income: NT$224.9m (down 73% from FY 2024). Profit margin: 5.7% (down from 18% in FY 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 19% p.a. on average during the next 2 years, compared to a 32% growth forecast for the Communications industry in Taiwan. Announcement • Feb 26
Arizon RFID Technology (Cayman) Co., Ltd., Annual General Meeting, May 27, 2026 Arizon RFID Technology (Cayman) Co., Ltd., Annual General Meeting, May 27, 2026. Location: 3 floor no,24, sec.1 hang chou s. rd., taipei city Taiwan Reported Earnings • Nov 14
Third quarter 2025 earnings released: EPS: NT$0.86 (vs NT$2.29 in 3Q 2024) Third quarter 2025 results: EPS: NT$0.86 (down from NT$2.29 in 3Q 2024). Revenue: NT$821.2m (down 29% from 3Q 2024). Net income: NT$64.7m (down 62% from 3Q 2024). Profit margin: 7.9% (down from 15% in 3Q 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 24% growth forecast for the Communications industry in Taiwan. Major Estimate Revision • Nov 13
Consensus revenue estimates fall by 17% The consensus outlook for revenues in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from NT$4.51b to NT$3.74b. EPS estimate fell from NT$7.67 to NT$3.89 per share. Net income forecast to shrink 34% next year vs 36% growth forecast for Communications industry in Taiwan . Consensus price target down from NT$185 to NT$149. Share price fell 19% to NT$113 over the past week. Valuation Update With 7 Day Price Move • Nov 12
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to NT$117, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 14x in the Communications industry in Taiwan. Total loss to shareholders of 47% over the past year. Simply Wall St's valuation model estimates the intrinsic value at NT$103 per share. Reported Earnings • Aug 15
Second quarter 2025 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2025 results: NT$0.43 loss per share (down from NT$3.04 profit in 2Q 2024). Revenue: NT$922.9m (down 21% from 2Q 2024). Net loss: NT$32.4m (down 114% from profit in 2Q 2024). Revenue exceeded analyst estimates by 2.5%. Earnings per share (EPS) missed analyst estimates. Revenue is forecast to grow 19% p.a. on average during the next 2 years, compared to a 23% growth forecast for the Communications industry in Taiwan. Upcoming Dividend • Jul 17
Upcoming dividend of NT$5.50 per share Eligible shareholders must have bought the stock before 24 July 2025. Payment date: 28 August 2025. Payout ratio is a comfortable 49% and this is well supported by cash flows. Trailing yield: 1.9%. Lower than top quartile of Taiwanese dividend payers (5.3%). Lower than average of industry peers (2.4%). Board Change • Jun 21
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, 1 was an independent director. The company's board is composed of: 4 independent directors. 6 non-independent directors. Independent Director Chin-Jung Kuo was the last independent director to join the board, commencing their role in 2025. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Major Estimate Revision • Jun 12
Consensus revenue estimates fall by 16% The consensus outlook for revenues in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from NT$5.29b to NT$4.42b. EPS estimate fell from NT$11.88 to NT$7.55 per share. Net income forecast to shrink 20% next year vs 17% growth forecast for Communications industry in Taiwan . Consensus price target down from NT$265 to NT$210. Share price fell 11% to NT$153 over the past week. Declared Dividend • May 29
Dividend increased to NT$5.50 Dividend of NT$5.50 is 83% higher than last year. Ex-date: 24th July 2025 Payment date: 28th August 2025 Dividend yield will be 3.2%, which is higher than the industry average of 2.3%. Sustainability & Growth Dividend is covered by earnings (48% 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 67% per year over the past 2 years and payments have been stable during that time. EPS is expected to grow by 15% over the next year, which should provide support to the dividend and adequate earnings cover. Major Estimate Revision • May 20
Consensus revenue estimates fall by 14% The consensus outlook for revenues in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from NT$6.14b to NT$5.29b. EPS estimate fell from NT$13.52 to NT$11.88 per share. Net income forecast to grow 11% next year vs 18% growth forecast for Communications industry in Taiwan. Consensus price target down from NT$325 to NT$265. Share price fell 5.1% to NT$175 over the past week. Reported Earnings • May 15
First quarter 2025 earnings released: EPS: NT$2.52 (vs NT$2.54 in 1Q 2024) First quarter 2025 results: EPS: NT$2.52 (down from NT$2.54 in 1Q 2024). Revenue: NT$1.15b (up 27% from 1Q 2024). Net income: NT$188.9m (flat on 1Q 2024). Profit margin: 17% (down from 21% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 16% p.a. on average during the next 2 years, compared to a 20% growth forecast for the Communications industry in Taiwan. Announcement • May 03
Arizon RFID Technology (Cayman) Co., Ltd. to Report Q1, 2025 Results on May 12, 2025 Arizon RFID Technology (Cayman) Co., Ltd. announced that they will report Q1, 2025 results on May 12, 2025 Valuation Update With 7 Day Price Move • Apr 28
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to NT$185, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 14x in the Communications industry in Taiwan. Total returns to shareholders of 28% over the past year. Valuation Update With 7 Day Price Move • Apr 09
Investor sentiment deteriorates as stock falls 27% After last week's 27% share price decline to NT$149, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 12x in the Communications industry in Taiwan. Negligible returns to shareholders over past year. New Risk • Apr 06
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. The company is paying a dividend despite having no free cash flows. Dividend yield: 2.7% 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 High level of non-cash earnings (39% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (7.6% average weekly change). Reported Earnings • Mar 30
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: NT$11.36 (up from NT$6.17 in FY 2023). Revenue: NT$4.61b (up 72% from FY 2023). Net income: NT$846.8m (up 89% from FY 2023). Profit margin: 18% (up from 17% in FY 2023). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 2.8%. Revenue is forecast to grow 25% p.a. on average during the next 2 years, compared to a 22% growth forecast for the Communications industry in Taiwan. Announcement • Mar 14
Arizon RFID Technology (Cayman) Co., Ltd., Annual General Meeting, May 27, 2025 Arizon RFID Technology (Cayman) Co., Ltd., Annual General Meeting, May 27, 2025, at 09:00 Taipei Standard Time. Location: 3 floor no,24, sec.1 hang chou s. rd., taipei city Taiwan Valuation Update With 7 Day Price Move • Mar 14
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to NT$226, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 16x in the Communications industry in Taiwan. Total returns to shareholders of 55% over the past year. Announcement • Mar 04
Arizon RFID Technology (Cayman) Co., Ltd. to Report Q4, 2024 Results on Mar 11, 2025 Arizon RFID Technology (Cayman) Co., Ltd. announced that they will report Q4, 2024 results on Mar 11, 2025 Price Target Changed • Jan 21
Price target increased by 29% to NT$360 Up from NT$280, the current price target is provided by 1 analyst. New target price is 28% above last closing price of NT$282. Stock is up 81% over the past year. The company is forecast to post earnings per share of NT$11.05 for next year compared to NT$6.17 last year. Valuation Update With 7 Day Price Move • Dec 11
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$255, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 20x in the Communications industry in Taiwan. Total returns to shareholders of 72% over the past year. Reported Earnings • Nov 17
Third quarter 2024 earnings: Revenues and EPS in line with analyst expectations Third quarter 2024 results: EPS: NT$2.29 (up from NT$1.17 in 3Q 2023). Revenue: NT$1.15b (up 76% from 3Q 2023). Net income: NT$171.1m (up 97% from 3Q 2023). Profit margin: 15% (up from 13% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 21% p.a. on average during the next 2 years, compared to a 15% growth forecast for the Communications industry in Taiwan. Valuation Update With 7 Day Price Move • Nov 11
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to NT$232, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 17x in the Communications industry in Taiwan. Total returns to shareholders of 66% over the past year. Announcement • Nov 01
Arizon RFID Technology (Cayman) Co., Ltd. to Report Q3, 2024 Results on Nov 08, 2024 Arizon RFID Technology (Cayman) Co., Ltd. announced that they will report Q3, 2024 results on Nov 08, 2024 Valuation Update With 7 Day Price Move • Sep 19
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to NT$300, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 16x in the Communications industry in Taiwan. Total returns to shareholders of 113% over the past year. Valuation Update With 7 Day Price Move • Aug 30
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to NT$255, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 15x in the Communications industry in Taiwan. Total returns to shareholders of 83% over the past year. Reported Earnings • Aug 16
Second quarter 2024 earnings: EPS misses analyst expectations Second quarter 2024 results: EPS: NT$3.04 (up from NT$1.70 in 2Q 2023). Revenue: NT$1.17b (up 104% from 2Q 2023). Net income: NT$225.6m (up 79% from 2Q 2023). Profit margin: 19% (down from 22% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 12%. Revenue is forecast to grow 30% p.a. on average during the next 2 years, compared to a 15% growth forecast for the Communications industry in Taiwan. Buy Or Sell Opportunity • Aug 07
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 31% to NT$206. The fair value is estimated to be NT$171, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 38% over the last year. Earnings per share has grown by 27%. Revenue is forecast to grow by 61% in a year. Earnings are forecast to grow by 84% in the next year. Announcement • Jul 31
Arizon RFID Technology (Cayman) Co., Ltd. to Report Q2, 2024 Results on Aug 07, 2024 Arizon RFID Technology (Cayman) Co., Ltd. announced that they will report Q2, 2024 results on Aug 07, 2024 New Risk • Jul 26
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Taiwanese stocks, typically moving 8.6% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. This is currently the only risk that has been identified for the company. Upcoming Dividend • Jul 18
Upcoming dividend of NT$3.00 per share Eligible shareholders must have bought the stock before 25 July 2024. Payment date: 29 August 2024. Payout ratio is a comfortable 42% but the company is not cash flow positive. Trailing yield: 1.3%. Lower than top quartile of Taiwanese dividend payers (4.2%). Lower than average of industry peers (2.4%). Major Estimate Revision • Jun 29
Consensus revenue estimates increase by 16% The consensus outlook for revenues in fiscal year 2024 has improved. 2024 revenue forecast increased from NT$3.90b to NT$4.52b. EPS estimate increased from NT$10.54 to NT$12.36 per share. Net income forecast to grow 84% next year vs 22% growth forecast for Communications industry in Taiwan. Consensus price target up from NT$234 to NT$285. Share price fell 2.8% to NT$240 over the past week. Declared Dividend • Jun 29
Dividend increased to NT$3.00 Dividend of NT$3.00 is 52% higher than last year. Ex-date: 25th July 2024 Payment date: 29th August 2024 Dividend yield will be 1.3%, which is lower than the industry average of 2.3%. Sustainability & Growth Dividend is covered by earnings (42% 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 company is yet to establish a track record of dividend growth or stability as it hasn't paid a regular dividend for at least 2 years. EPS is expected to grow by 42% over the next year, which should provide support to the dividend and adequate earnings cover. Announcement • Jun 28
Arizon RFID Technology (Cayman) Co., Ltd. Announces Cash Dividend, Payable on August 29, 2024 Arizon RFID Technology (Cayman) Co., Ltd. announced common stock dividend distribution of TWD 222,954,000 (TWD 3 per share). Ex-rights (ex-dividend) trading date is July 25, 2024. Ex-rights (ex-dividend) record date is August 2, 2024. Payment date of common stock cash dividend distribution is August 29, 2024. Valuation Update With 7 Day Price Move • Jun 10
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$243, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 22x in the Communications industry in Taiwan. Total returns to shareholders of 32% over the past year. Valuation Update With 7 Day Price Move • May 10
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$172, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 20x in the Communications industry in Taiwan. Total returns to shareholders of 1.9% over the past year. Announcement • May 08
Arizon RFID Technology (Cayman) Co., Ltd. to Report Q1, 2024 Results on May 09, 2024 Arizon RFID Technology (Cayman) Co., Ltd. announced that they will report Q1, 2024 results on May 09, 2024 Valuation Update With 7 Day Price Move • Mar 19
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to NT$143, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 17x in the Communications industry in Taiwan. Total loss to shareholders of 29% over the past year. Announcement • Mar 14
Arizon RFID Technology (Cayman) Co., Ltd., Annual General Meeting, Jun 27, 2024 Arizon RFID Technology (Cayman) Co., Ltd., Annual General Meeting, Jun 27, 2024. Location: 5F, No. 24, Section 1, Hangzhou South Road,Zhongzheng District Taipei City Taiwan Agenda: To consider and approve Report of 2023 business & financial statements; to consider and approve Audit Committee report of 2023 audited financial report; to consider and approve Report of the employees & directors' remuneration for year 2023; to consider and approve the Ratification of operating reports and financial statements for year 2023; to consider and approve the Ratification of earnings appropriation for year 2023; and to consider and approve other matters of business. New Risk • Oct 14
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 5.9% 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 • Aug 17
Second quarter 2023 earnings released: EPS: NT$1.70 (vs NT$1.64 in 2Q 2022) Second quarter 2023 results: EPS: NT$1.70 (up from NT$1.64 in 2Q 2022). Revenue: NT$573.1m (up 9.6% from 2Q 2022). Net income: NT$126.1m (up 18% from 2Q 2022). Profit margin: 22% (up from 20% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 25% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Communications industry in Taiwan. Reported Earnings • Jul 08
First quarter 2023 earnings released: EPS: NT$1.52 (vs NT$1.02 in 1Q 2022) First quarter 2023 results: EPS: NT$1.52 (up from NT$1.02 in 1Q 2022). Revenue: NT$587.2m (up 14% from 1Q 2022). Net income: NT$102.0m (up 54% from 1Q 2022). Profit margin: 17% (up from 13% in 1Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 22% p.a. on average during the next 3 years, compared to a 8.2% growth forecast for the Communications industry in Taiwan. Announcement • Jun 28
Arizon RFID Technology (Cayman) Co., Ltd. Approves Cash Dividends, Payable on August 29, 2023 Arizon RFID Technology (Cayman) Co., Ltd. announced that at its AGM held on June 27, 2023, the shareholders approved cash dividends to shareholders of TWD 147,149,640 (TWD 1.98 per share). Ex-rights (ex-dividend) trading date is July 27, 2023. Ex-rights (ex-dividend) record date is August 2, 2023. Payment date of cash dividend distribution is August 29, 2023. Valuation Update With 7 Day Price Move • May 15
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to NT$156, the stock trades at a trailing P/E ratio of 34.1x. Average trailing P/E is 19x in the Communications industry in Taiwan. Valuation Update With 7 Day Price Move • Apr 18
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$220, the stock trades at a trailing P/E ratio of 48.3x. Average trailing P/E is 20x in the Communications industry in Taiwan.