Reported Earnings • Aug 08
Second quarter 2026 earnings released: EPS: NT$0.77 (vs NT$0.44 in 2Q 2025) Second quarter 2026 results: EPS: NT$0.77 (up from NT$0.44 in 2Q 2025). Revenue: NT$852.9m (flat on 2Q 2025). Net income: NT$387.2m (up 75% from 2Q 2025). Profit margin: 45% (up from 26% in 2Q 2025). Over the last 3 years on average, earnings per share has fallen by 9% per year whereas the company’s share price has fallen by 4% per year. Upcoming Dividend • Jul 08
Upcoming dividend of NT$1.20 per share Eligible shareholders must have bought the stock before 15 July 2026. Payment date: 17 August 2026. Payout ratio is a comfortable 68% and the cash payout ratio is 94%. Trailing yield: 4.0%. Lower than top quartile of Taiwanese dividend payers (4.9%). In line with average of industry peers (4.0%). Buy Or Sell Opportunity • Jun 04
Now 20% overvalued Over the last 90 days, the stock has fallen 7.7% to NT$29.50. The fair value is estimated to be NT$24.58, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 9.3%. Reported Earnings • May 13
First quarter 2026 earnings released: EPS: NT$0.33 (vs NT$0.28 in 1Q 2025) First quarter 2026 results: EPS: NT$0.33 (up from NT$0.28 in 1Q 2025). Revenue: NT$937.5m (flat on 1Q 2025). Net income: NT$164.5m (up 16% from 1Q 2025). Profit margin: 18% (up from 15% in 1Q 2025). Over the last 3 years on average, earnings per share has fallen by 9% per year whereas the company’s share price has fallen by 4% per year. Announcement • Mar 13
The Great Taipei Gas Corporation, Annual General Meeting, Jun 18, 2026 The Great Taipei Gas Corporation, Annual General Meeting, Jun 18, 2026, at 09:00 Taipei Standard Time. Location: 8 floor no,33 ln.11, kuang fu n. rd., songshan district, taipei city Taiwan Valuation Update With 7 Day Price Move • Mar 09
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$35.10, the stock trades at a trailing P/E ratio of 20.5x. Average trailing P/E is 19x in the Gas Utilities industry in Taiwan. Total returns to shareholders of 25% over the past three years. Reported Earnings • Nov 10
Third quarter 2025 earnings released: EPS: NT$0.82 (vs NT$0.64 in 3Q 2024) Third quarter 2025 results: EPS: NT$0.82 (up from NT$0.64 in 3Q 2024). Revenue: NT$761.7m (up 4.6% from 3Q 2024). Net income: NT$409.5m (up 28% from 3Q 2024). Profit margin: 54% (up from 44% in 3Q 2024). The increase in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 3% per year whereas the company’s share price has fallen by 1% per year. Reported Earnings • Aug 08
Second quarter 2025 earnings released: EPS: NT$0.44 (vs NT$0.42 in 2Q 2024) Second quarter 2025 results: EPS: NT$0.44 (up from NT$0.42 in 2Q 2024). Revenue: NT$845.1m (up 3.8% from 2Q 2024). Net income: NT$221.4m (up 5.1% from 2Q 2024). Profit margin: 26% (in line with 2Q 2024). Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has fallen by 3% per year. Upcoming Dividend • Jul 23
Upcoming dividend of NT$1.20 per share Eligible shareholders must have bought the stock before 30 July 2025. Payment date: 29 August 2025. Payout ratio is on the higher end at 80%, and the cash payout ratio is above 100%. Trailing yield: 3.9%. Lower than top quartile of Taiwanese dividend payers (5.3%). In line with average of industry peers (3.8%). Declared Dividend • Jul 05
Dividend of NT$1.20 announced Dividend of NT$1.20 is the same as last year. Ex-date: 30th July 2025 Payment date: 29th August 2025 Dividend yield will be 3.8%, which is higher than the industry average of 2.6%. Sustainability & Growth Dividend is covered by earnings (80% earnings payout ratio) but not covered by cash flows (116% cash payout ratio). The dividend has increased by an average of 1.8% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has remained steady over the last 5 years. Unless this trend deteriorates, it should provide adequate earnings cover for the dividend. New Risk • May 10
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: 23% Last year net profit margin: 33% 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: Minor Risks Dividend is not well covered by cash flows (116% cash payout ratio). Profit margins are more than 30% lower than last year (23% net profit margin). Reported Earnings • May 10
First quarter 2025 earnings released: EPS: NT$0.28 (vs NT$0.48 in 1Q 2024) First quarter 2025 results: EPS: NT$0.28 (down from NT$0.48 in 1Q 2024). Revenue: NT$944.7m (up 1.5% from 1Q 2024). Net income: NT$141.6m (down 42% from 1Q 2024). Profit margin: 15% (down from 26% in 1Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Announcement • May 01
The Great Taipei Gas Corporation to Report Q1, 2025 Results on May 08, 2025 The Great Taipei Gas Corporation announced that they will report Q1, 2025 results on May 08, 2025 Reported Earnings • Mar 18
Full year 2024 earnings released: EPS: NT$1.71 (vs NT$2.32 in FY 2023) Full year 2024 results: EPS: NT$1.71 (down from NT$2.32 in FY 2023). Revenue: NT$3.32b (down 4.4% from FY 2023). Net income: NT$856.4m (down 26% from FY 2023). Profit margin: 26% (down from 33% in FY 2023). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Reported Earnings • Nov 18
Third quarter 2024 earnings released: EPS: NT$0.64 (vs NT$0.75 in 3Q 2023) Third quarter 2024 results: EPS: NT$0.64 (down from NT$0.75 in 3Q 2023). Revenue: NT$728.1m (down 2.8% from 3Q 2023). Net income: NT$319.1m (down 15% from 3Q 2023). Profit margin: 44% (down from 50% in 3Q 2023). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Announcement • Nov 05
The Great Taipei Gas Corporation to Report Q3, 2024 Results on Nov 12, 2024 The Great Taipei Gas Corporation announced that they will report Q3, 2024 results on Nov 12, 2024 Reported Earnings • Aug 13
Second quarter 2024 earnings released: EPS: NT$0.42 (vs NT$0.63 in 2Q 2023) Second quarter 2024 results: EPS: NT$0.42 (down from NT$0.63 in 2Q 2023). Revenue: NT$814.1m (flat on 2Q 2023). Net income: NT$210.7m (down 34% from 2Q 2023). Profit margin: 26% (down from 39% in 2Q 2023). Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Announcement • Aug 01
The Great Taipei Gas Corporation to Report Q2, 2024 Results on Aug 08, 2024 The Great Taipei Gas Corporation announced that they will report Q2, 2024 results on Aug 08, 2024 Upcoming Dividend • Jul 22
Upcoming dividend of NT$1.20 per share Eligible shareholders must have bought the stock before 29 July 2024. Payment date: 28 August 2024. Payout ratio is a comfortable 52% and this is well supported by cash flows. Trailing yield: 3.7%. Lower than top quartile of Taiwanese dividend payers (4.3%). Higher than average of industry peers (3.1%). Declared Dividend • Jun 29
Dividend increased to NT$1.20 Dividend of NT$1.20 is 9.1% higher than last year. Ex-date: 29th July 2024 Payment date: 28th August 2024 Dividend yield will be 3.7%, which is higher than the industry average of 2.6%. Sustainability & Growth Dividend is covered by both earnings (52% earnings payout ratio) and cash flows (77% cash payout ratio). The dividend has increased by an average of 1.8% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 10.0% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • May 17
First quarter 2024 earnings released: EPS: NT$0.48 (vs NT$0.51 in 1Q 2023) First quarter 2024 results: EPS: NT$0.48 (down from NT$0.51 in 1Q 2023). Revenue: NT$930.5m (flat on 1Q 2023). Net income: NT$242.2m (down 5.5% from 1Q 2023). Profit margin: 26% (down from 28% in 1Q 2023). Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Announcement • May 03
The Great Taipei Gas Corporation to Report Q1, 2024 Results on May 09, 2024 The Great Taipei Gas Corporation announced that they will report Q1, 2024 results on May 09, 2024 Announcement • Apr 18
The Great Taipei Gas Corporation Announces Change of Chairperson The Great Taipei Gas Corporation announced change of Chairperson. Name of the previous position holder: HSIEH,RUNG-FU. Resume of the previous position holder: The Great Taipei Gas Corporation Chairperson. Resume of the new position holder: The Great Taipei Gas Corporation Chairperson. Effective date of the new appointment: April 16, 2024. Reported Earnings • Mar 17
Full year 2023 earnings released: EPS: NT$2.32 (vs NT$1.55 in FY 2022) Full year 2023 results: EPS: NT$2.32 (up from NT$1.55 in FY 2022). Revenue: NT$3.47b (up 4.5% from FY 2022). Net income: NT$1.16b (up 50% from FY 2022). Profit margin: 33% (up from 23% in FY 2022). Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. New Risk • Nov 29
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 26% 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. This is currently the only risk that has been identified for the company. Reported Earnings • Nov 14
Third quarter 2023 earnings released: EPS: NT$0.75 (vs NT$0.65 in 3Q 2022) Third quarter 2023 results: EPS: NT$0.75 (up from NT$0.65 in 3Q 2022). Revenue: NT$748.9m (up 1.9% from 3Q 2022). Net income: NT$375.6m (up 16% from 3Q 2022). Profit margin: 50% (up from 44% in 3Q 2022). The increase in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 6% per year whereas the company’s share price has increased by 1% per year. Reported Earnings • Aug 10
Second quarter 2023 earnings released: EPS: NT$0.63 (vs NT$0.26 in 2Q 2022) Second quarter 2023 results: EPS: NT$0.63 (up from NT$0.26 in 2Q 2022). Revenue: NT$810.1m (flat on 2Q 2022). Net income: NT$316.7m (up 147% from 2Q 2022). Profit margin: 39% (up from 16% in 2Q 2022). Over the last 3 years on average, earnings per share has increased by 3% per year and the company’s share price has also increased by 3% per year. Upcoming Dividend • Jul 20
Upcoming dividend of NT$1.10 per share at 3.3% yield Eligible shareholders must have bought the stock before 27 July 2023. Payment date: 28 August 2023. Payout ratio is a comfortable 63% but the company is paying out more than the cash it is generating. Trailing yield: 3.3%. Lower than top quartile of Taiwanese dividend payers (5.5%). Higher than average of industry peers (2.5%). Announcement • Jun 30
The Great Taipei Gas Corporation Approves Cash Dividend, Payable on August 28, 2023 The Great Taipei Gas Corporation announced at shareholders meeting held on June 29, 2023, the shareholders approved cash dividend of TWD 1.1 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 28, 2023. Reported Earnings • Mar 19
Full year 2022 earnings released: EPS: NT$1.55 (vs NT$1.75 in FY 2021) Full year 2022 results: EPS: NT$1.55 (down from NT$1.75 in FY 2021). Revenue: NT$3.32b (up 4.8% from FY 2021). Net income: NT$775.2m (down 11% from FY 2021). Profit margin: 23% (down from 28% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has increased by 4% per year. Reported Earnings • Nov 19
Third quarter 2022 earnings released: EPS: NT$0.65 (vs NT$0.54 in 3Q 2021) Third quarter 2022 results: EPS: NT$0.65 (up from NT$0.54 in 3Q 2021). Revenue: NT$735.2m (up 9.1% from 3Q 2021). Net income: NT$325.2m (up 20% from 3Q 2021). Profit margin: 44% (up from 40% in 3Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has fallen by 1% per year. Reported Earnings • Aug 15
Second quarter 2022 earnings released: EPS: NT$0.26 (vs NT$0.35 in 2Q 2021) Second quarter 2022 results: EPS: NT$0.26 (down from NT$0.35 in 2Q 2021). Revenue: NT$811.5m (up 7.6% from 2Q 2021). Net income: NT$128.4m (down 27% from 2Q 2021). Profit margin: 16% (down from 23% 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 3% per year whereas the company’s share price has increased by 4% per year. Upcoming Dividend • Jul 22
Upcoming dividend of NT$1.10 per share Eligible shareholders must have bought the stock before 29 July 2022. Payment date: 31 August 2022. Payout ratio is a comfortable 66% and the cash payout ratio is 87%. Trailing yield: 3.3%. Lower than top quartile of Taiwanese dividend payers (6.7%). Higher than average of industry peers (2.3%). Announcement • Jul 09
The Great Taipei Gas Corporation Announces Appointment of Remuneration Committee The Great Taipei Gas Corporation announced that Board of Directors approved to appoint the members of 5th term Remuneration Committee. Name of the previous position holder: WANG,YU-YUAN; CHANG,CHENG-KUO; LEE,JENG-MING. Resume of the previous position holder: WANG,YU-YUAN/diplomatic professional; CHANG,CHENG-KUO/accounting and tax professional advisor; LEE,JENG-MING/natural gas professional. Name of the new position holder: WANG,YU-YUAN; CHANG,CHENG-KUO; LEE,JENG-MING. Effective date of the new member is July 7, 2022. Announcement • Jun 25
The Great Taipei Gas Corporation Announces Earnings Distribution for the Year 2021 The Great Taipei Gas Corporation announced 2021 earnings distribution, the cash dividends of TWD 1.1 per share will be distributed, at the AGM held on June 23, 2022. Reported Earnings • May 17
First quarter 2022 earnings released: EPS: NT$0.32 (vs NT$0.41 in 1Q 2021) First quarter 2022 results: EPS: NT$0.32 (down from NT$0.41 in 1Q 2021). Revenue: NT$896.9m (down 2.3% from 1Q 2021). Net income: NT$161.8m (down 21% from 1Q 2021). Profit margin: 18% (down from 22% in 1Q 2021). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 5% per year whereas the company’s share price has increased by 4% per year. Reported Earnings • Apr 03
Full year 2021 earnings released: EPS: NT$1.75 (vs NT$1.64 in FY 2020) Full year 2021 results: EPS: NT$1.75 (up from NT$1.64 in FY 2020). Revenue: NT$3.17b (down 11% from FY 2020). Net income: NT$875.3m (up 6.3% from FY 2020). Profit margin: 28% (up from 23% in FY 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 8% per year whereas the company’s share price has increased by 4% per year. Reported Earnings • Nov 15
Third quarter 2021 earnings released: EPS NT$0.54 (vs NT$0.70 in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$674.0m (down 10% from 3Q 2020). Net income: NT$271.7m (down 22% from 3Q 2020). Profit margin: 40% (down from 46% in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 8% per year whereas the company’s share price has increased by 5% per year. Upcoming Dividend • Aug 19
Upcoming dividend of NT$1.10 per share Eligible shareholders must have bought the stock before 26 August 2021. Payment date: 29 September 2021. Trailing yield: 3.3%. Lower than top quartile of Taiwanese dividend payers (5.2%). Higher than average of industry peers (2.7%). Reported Earnings • Aug 15
Second quarter 2021 earnings released: EPS NT$0.35 (vs NT$0.54 in 2Q 2020) The company reported a poor second quarter result with weaker earnings, revenues and profit margins. Second quarter 2021 results: Revenue: NT$754.2m (down 12% from 2Q 2020). Net income: NT$176.0m (down 35% from 2Q 2020). Profit margin: 23% (down from 32% in 2Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 10% per year whereas the company’s share price has increased by 6% per year. Reported Earnings • May 15
First quarter 2021 earnings released: EPS NT$0.41 (vs NT$0.11 in 1Q 2020) The company reported a decent first quarter result with improved earnings and profit margins, although revenues were weaker. First quarter 2021 results: Revenue: NT$918.2m (down 18% from 1Q 2020). Net income: NT$204.6m (up 274% from 1Q 2020). Profit margin: 22% (up from 4.9% in 1Q 2020). The increase in margin was driven by lower 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 6% per year. Reported Earnings • Apr 04
Full year 2020 earnings released: EPS NT$1.64 (vs NT$1.68 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$3.54b (down 16% from FY 2019). Net income: NT$823.6m (down 2.1% from FY 2019). Profit margin: 23% (up from 20% in FY 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 6% per year whereas the company’s share price has increased by 7% per year. Announcement • Mar 20
The Great Taipei Gas Corporation, Annual General Meeting, Jun 10, 2021 The Great Taipei Gas Corporation, Annual General Meeting, Jun 10, 2021. Is New 90 Day High Low • Nov 23
New 90-day high: NT$32.00 The company is up 4.0% from its price of NT$30.90 on 25 August 2020. The Taiwanese market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Gas Utilities industry, which is up 6.0% over the same period. Reported Earnings • Nov 15
Third quarter 2020 earnings released: EPS NT$0.70 The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2020 results: Revenue: NT$752.2m (down 21% from 3Q 2019). Net income: NT$348.4m (up 2.4% from 3Q 2019). Profit margin: 46% (up from 36% in 3Q 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has increased by 6% per year. Is New 90 Day High Low • Oct 19
New 90-day high: NT$31.80 The company is up 3.0% from its price of NT$30.80 on 21 July 2020. The Taiwanese market is up 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Gas Utilities industry, which is up 6.0% over the same period.