Declared Dividend • Jun 10
Dividend of NT$1.80 announced Dividend of NT$1.80 is the same as last year. Ex-date: 30th June 2026 Payment date: 27th July 2026 Dividend yield will be 5.2%, which is higher than the industry average of 2.6%. Sustainability & Growth Dividend is covered by both earnings (76% earnings payout ratio) and cash flows (77% cash payout ratio). The dividend has increased by an average of 7.8% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 6.9% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • May 19
First quarter 2026 earnings released: EPS: NT$0.69 (vs NT$0.76 in 1Q 2025) First quarter 2026 results: EPS: NT$0.69 (down from NT$0.76 in 1Q 2025). Revenue: NT$429.5m (up 2.1% from 1Q 2025). Net income: NT$83.4m (down 8.6% from 1Q 2025). Profit margin: 19% (down from 22% in 1Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Buy Or Sell Opportunity • Apr 28
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 2.8% to NT$35.10. The fair value is estimated to be NT$29.24, however this is not to be taken as a sell 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 28%. Announcement • Mar 16
Hsin Kao Gas Co.,Ltd., Annual General Meeting, Jun 05, 2026 Hsin Kao Gas Co.,Ltd., Annual General Meeting, Jun 05, 2026, at 09:00 Taipei Standard Time. Location: 6 floor no,12, min ch`uan 1st rd., lingya district, kaohsiung city Taiwan New Risk • Mar 15
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 7.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (7.8% average weekly change). Reported Earnings • Mar 14
Full year 2025 earnings released: EPS: NT$2.45 (vs NT$2.86 in FY 2024) Full year 2025 results: EPS: NT$2.45 (down from NT$2.86 in FY 2024). Revenue: NT$1.57b (down 20% from FY 2024). Net income: NT$294.6m (down 14% from FY 2024). Profit margin: 19% (up from 18% in FY 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • Mar 09
Now 24% overvalued after recent price rise Over the last 90 days, the stock has risen 49% to NT$51.30. The fair value is estimated to be NT$41.45, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 27%. Valuation Update With 7 Day Price Move • Mar 05
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to NT$42.40, the stock trades at a trailing P/E ratio of 15.5x. Average trailing P/E is 19x in the Gas Utilities industry in Taiwan. Total returns to shareholders of 28% over the past three years. Reported Earnings • Nov 17
Third quarter 2025 earnings released: EPS: NT$0.80 (vs NT$0.53 in 3Q 2024) Third quarter 2025 results: EPS: NT$0.80 (up from NT$0.53 in 3Q 2024). Revenue: NT$369.4m (up 9.7% from 3Q 2024). Net income: NT$96.6m (up 52% from 3Q 2024). Profit margin: 26% (up from 19% in 3Q 2024). Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 12
Second quarter 2025 earnings released: EPS: NT$0.30 (vs NT$0.95 in 2Q 2024) Second quarter 2025 results: EPS: NT$0.30 (down from NT$0.95 in 2Q 2024). Revenue: NT$377.6m (down 39% from 2Q 2024). Net income: NT$35.9m (down 69% from 2Q 2024). Profit margin: 9.5% (down from 18% in 2Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Upcoming Dividend • Jun 19
Upcoming dividend of NT$1.80 per share Eligible shareholders must have bought the stock before 23 June 2025. Payment date: 18 July 2025. Payout ratio is a comfortable 58% and this is well supported by cash flows. Trailing yield: 5.0%. Lower than top quartile of Taiwanese dividend payers (5.2%). Higher than average of industry peers (3.8%). Declared Dividend • Jun 05
Dividend increased to NT$1.80 Dividend of NT$1.80 is 80% higher than last year. Ex-date: 23rd June 2025 Payment date: 18th July 2025 Dividend yield will be 5.0%, which is higher than the industry average of 2.6%. Sustainability & Growth Dividend is covered by both earnings (58% earnings payout ratio) and cash flows (37% cash payout ratio). The dividend has increased by an average of 5.0% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 13% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • May 09
First quarter 2025 earnings released: EPS: NT$0.76 (vs NT$0.51 in 1Q 2024) First quarter 2025 results: EPS: NT$0.76 (up from NT$0.51 in 1Q 2024). Revenue: NT$420.6m (down 36% from 1Q 2024). Net income: NT$91.2m (up 49% from 1Q 2024). Profit margin: 22% (up from 9.3% in 1Q 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Announcement • Apr 24
Hsin Kao Gas Co.,Ltd. to Report Q1, 2025 Results on May 05, 2025 Hsin Kao Gas Co.,Ltd. announced that they will report Q1, 2025 results on May 05, 2025 Announcement • Mar 13
Hsin Kao Gas Co.,Ltd., Annual General Meeting, Jun 02, 2025 Hsin Kao Gas Co.,Ltd., Annual General Meeting, Jun 02, 2025, at 09:00 Taipei Standard Time. Location: 6 floor no,12, min ch`uan 1st rd., lingya district, kaohsiung city Taiwan Reported Earnings • Mar 13
Full year 2024 earnings released: EPS: NT$2.86 (vs NT$1.44 in FY 2023) Full year 2024 results: EPS: NT$2.86 (up from NT$1.44 in FY 2023). Revenue: NT$1.95b (up 59% from FY 2023). Net income: NT$344.1m (up 99% from FY 2023). Profit margin: 18% (up from 14% in FY 2023). The increase in margin was driven by higher revenue. 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. Reported Earnings • Nov 17
Third quarter 2024 earnings released: EPS: NT$0.53 (vs NT$0.34 in 3Q 2023) Third quarter 2024 results: EPS: NT$0.53 (up from NT$0.34 in 3Q 2023). Revenue: NT$336.9m (up 24% from 3Q 2023). Net income: NT$63.5m (up 57% from 3Q 2023). Profit margin: 19% (up from 15% in 3Q 2023). 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 3% per year. Announcement • Oct 23
Hsin Kao Gas Co.,Ltd. to Report Q3, 2024 Results on Nov 04, 2024 Hsin Kao Gas Co.,Ltd. announced that they will report Q3, 2024 results on Nov 04, 2024 Reported Earnings • Aug 06
Second quarter 2024 earnings released: EPS: NT$0.95 (vs NT$0.46 in 2Q 2023) Second quarter 2024 results: EPS: NT$0.95 (up from NT$0.46 in 2Q 2023). Revenue: NT$619.4m (up 106% from 2Q 2023). Net income: NT$114.0m (up 107% from 2Q 2023). Profit margin: 18% (in line with 2Q 2023). 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. Announcement • Jul 30
Hsin Kao Gas Co.,Ltd. to Report Q2, 2024 Results on Aug 05, 2024 Hsin Kao Gas Co.,Ltd. announced that they will report Q2, 2024 results on Aug 05, 2024 Declared Dividend • Jun 05
Dividend of NT$1.00 announced Shareholders will receive a dividend of NT$1.00. Ex-date: 27th June 2024 Payment date: 24th July 2024 Dividend yield will be 2.7%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by both earnings (61% earnings payout ratio) and cash flows (31% cash payout ratio). The dividend has increased by an average of 4.7% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has remained steady over the last 5 years. Unless this trend deteriorates, it should provide adequate earnings cover for the dividend. Announcement • Jun 01
Hsin Kao Gas Co.,Ltd. Approves Cash Dividend Hsin Kao Gas Co.,Ltd. announced that at the shareholders meeting held on May 31, 2024 approved to distribute a cash dividend of TWD 1 per share. Reported Earnings • May 09
First quarter 2024 earnings released: EPS: NT$0.51 (vs NT$0.32 in 1Q 2023) First quarter 2024 results: EPS: NT$0.51 (up from NT$0.32 in 1Q 2023). Revenue: NT$659.2m (up 90% from 1Q 2023). Net income: NT$61.4m (up 60% from 1Q 2023). Profit margin: 9.3% (down from 11% in 1Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Reported Earnings • Mar 17
Full year 2023 earnings released: EPS: NT$1.44 (vs NT$1.44 in FY 2022) Full year 2023 results: EPS: NT$1.44 (in line with FY 2022). Revenue: NT$1.23b (down 1.6% from FY 2022). Net income: NT$173.2m (flat on FY 2022). Profit margin: 14% (in line with FY 2022). Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Announcement • Mar 13
Hsin Kao Gas Co.,Ltd. Proposes Cash Dividend Hsin Kao Gas Co.,Ltd. annoucneed that at the AGM to be held on May 31, 2024, the company proposed to distribute cash dividends of TWD 1.00 per share. Announcement • Mar 12
Hsin Kao Gas Co.,Ltd., Annual General Meeting, May 31, 2024 Hsin Kao Gas Co.,Ltd., Annual General Meeting, May 31, 2024. Location: Auditorium, 6F., No. 12, Minquan 1st Rd Lingya Dist Kaohsiung City Taiwan Agenda: To consider 112 business report; to consider audit committee's review of the 112 annual final accounting books and statements; to consider report on 112 employees' and directors' remuneration; to consider establishment of the company's ethical operating procedures and code of conduct; to consider acknowledgment of the 112 annual final accounting books and statements; to consider acknowledgment of the 112 earnings distribution; and to consider other issues. Reported Earnings • Aug 10
Second quarter 2023 earnings released: EPS: NT$0.50 (vs NT$0.43 in 2Q 2022) Second quarter 2023 results: EPS: NT$0.50 (up from NT$0.43 in 2Q 2022). Revenue: NT$300.5m (down 5.0% from 2Q 2022). Net income: NT$55.0m (up 17% from 2Q 2022). Profit margin: 18% (up from 15% in 2Q 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 2% per year whereas the company’s share price has increased by 2% per year. Upcoming Dividend • Jun 13
Upcoming dividend of NT$0.30 per share at 0.7% yield Eligible shareholders must have bought the stock before 20 June 2023. Payment date: 17 July 2023. Payout ratio is a comfortable 20% but the company is not cash flow positive. Trailing yield: 0.7%. Lower than top quartile of Taiwanese dividend payers (5.5%). Lower than average of industry peers (2.4%). Reported Earnings • Mar 22
Full year 2022 earnings released: EPS: NT$1.57 (vs NT$2.15 in FY 2021) Full year 2022 results: EPS: NT$1.57 (down from NT$2.15 in FY 2021). Revenue: NT$1.25b (up 4.6% from FY 2021). Net income: NT$173.3m (down 27% from FY 2021). Profit margin: 14% (down from 20% in FY 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 7% per year. Reported Earnings • Aug 12
Second quarter 2022 earnings released: EPS: NT$0.43 (vs NT$0.30 in 2Q 2021) Second quarter 2022 results: EPS: NT$0.43 (up from NT$0.30 in 2Q 2021). Revenue: NT$316.3m (up 10% from 2Q 2021). Net income: NT$47.1m (up 42% from 2Q 2021). Profit margin: 15% (up from 12% in 2Q 2021). The increase in margin was driven by higher revenue. 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 8% per year. Upcoming Dividend • Jun 27
Upcoming dividend of NT$1.40 per share Eligible shareholders must have bought the stock before 04 July 2022. Payment date: 04 August 2022. Payout ratio is a comfortable 73% but the company is not cash flow positive. Trailing yield: 3.4%. Lower than top quartile of Taiwanese dividend payers (6.3%). Higher than average of industry peers (2.3%). Reported Earnings • May 17
First quarter 2022 earnings released: EPS: NT$0.44 (vs NT$0.68 in 1Q 2021) First quarter 2022 results: EPS: NT$0.44 (down from NT$0.68 in 1Q 2021). Revenue: NT$351.0m (up 3.3% from 1Q 2021). Net income: NT$48.6m (down 35% from 1Q 2021). Profit margin: 14% (down from 22% in 1Q 2021). 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 increased by 11% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Nov 12
Third quarter 2021 earnings released: EPS NT$0.50 (vs NT$0.45 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$263.9m (up 2.1% from 3Q 2020). Net income: NT$55.6m (up 11% from 3Q 2020). Profit margin: 21% (up from 19% in 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Reported Earnings • Aug 13
Second quarter 2021 earnings released: EPS NT$0.30 (vs NT$0.38 in 2Q 2020) The company reported a poor second quarter result with weaker earnings, revenues and profit margins. Second quarter 2021 results: Revenue: NT$287.2m (down 4.7% from 2Q 2020). Net income: NT$33.1m (down 22% from 2Q 2020). Profit margin: 12% (down from 14% in 2Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Upcoming Dividend • Jul 22
Upcoming dividend of NT$1.30 per share Eligible shareholders must have bought the stock before 29 July 2021. Payment date: 30 August 2021. Trailing yield: 3.3%. Lower than top quartile of Taiwanese dividend payers (4.9%). Higher than average of industry peers (2.7%). Reported Earnings • May 11
First quarter 2021 earnings released: EPS NT$0.67 (vs NT$0.54 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$339.8m (down 12% from 1Q 2020). Net income: NT$74.5m (up 24% from 1Q 2020). Profit margin: 22% (up from 16% in 1Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Reported Earnings • Mar 24
Full year 2020 earnings released: EPS NT$1.73 (vs NT$1.75 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$1.23b (down 15% from FY 2019). Net income: NT$190.8m (down 1.1% from FY 2019). Profit margin: 16% (up from 13% in FY 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 12% per year, which means it is well ahead of earnings. Announcement • Mar 18
Hsin Kao Gas Co.,Ltd., Annual General Meeting, Jun 07, 2021 Hsin Kao Gas Co.,Ltd., Annual General Meeting, Jun 07, 2021. Is New 90 Day High Low • Dec 31
New 90-day high: NT$44.00 The company is up 8.0% from its price of NT$40.60 on 30 September 2020. The Taiwanese market is up 17% over the last 90 days, indicating the company underperformed over that time. However, its price trend is similar to the Gas Utilities industry, which is also up 8.0% over the same period. Is New 90 Day High Low • Dec 16
New 90-day high: NT$42.55 The company is up 3.0% from its price of NT$41.50 on 17 September 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. Is New 90 Day High Low • Nov 26
New 90-day high: NT$42.25 The company is up 6.0% from its price of NT$40.00 on 27 August 2020. The Taiwanese market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Gas Utilities industry, which is up 7.0% over the same period. Reported Earnings • Nov 14
Third quarter 2020 earnings released: EPS NT$0.45 The company reported a soft third quarter result with weaker earnings and revenues, although profit margins were improved. Third quarter 2020 results: Revenue: NT$258.5m (down 23% from 3Q 2019). Net income: NT$50.0m (down 18% from 3Q 2019). Profit margin: 19% (up from 18% 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 1% per year but the company’s share price has increased by 12% per year, which means it is tracking significantly ahead of earnings growth.