Valuation Update With 7 Day Price Move • 14h
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to NT$41.30, the stock trades at a trailing P/E ratio of 15.2x. Average trailing P/E is 43x in the Semiconductor industry in Taiwan. Total returns to shareholders of 224% over the past three years. Declared Dividend • Jun 26
Dividend increased to NT$1.49 Dividend of NT$1.49 is 647% higher than last year. Ex-date: 9th July 2026 Payment date: 29th July 2026 Dividend yield will be 2.6%, which is lower than the industry average of 3.0%. Sustainability & Growth Dividend is covered by earnings (55% 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 22% 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. New Risk • Jun 18
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: 2.5% 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: Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (10.0% average weekly change). Large one-off items impacting financial results. Valuation Update With 7 Day Price Move • May 26
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$55.10, the stock trades at a trailing P/E ratio of 20.2x. Average trailing P/E is 43x in the Semiconductor industry in Taiwan. Total returns to shareholders of 328% over the past three years. Reported Earnings • May 15
First quarter 2026 earnings released: EPS: NT$0.49 (vs NT$0.21 in 1Q 2025) First quarter 2026 results: EPS: NT$0.49 (up from NT$0.21 in 1Q 2025). Revenue: NT$1.97b (up 9.9% from 1Q 2025). Net income: NT$249.1m (up 135% from 1Q 2025). Profit margin: 13% (up from 5.9% in 1Q 2025). Over the last 3 years on average, earnings per share has increased by 83% per year but the company’s share price has only increased by 56% per year, which means it is significantly lagging earnings growth. New Risk • Mar 30
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 415% 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 Share price has been highly volatile over the past 3 months (12% average weekly change). Minor Risk Large one-off items impacting financial results. Valuation Update With 7 Day Price Move • Mar 20
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to NT$63.30, the stock trades at a trailing P/E ratio of 25.6x. Average trailing P/E is 37x in the Semiconductor industry in Taiwan. Total returns to shareholders of 395% over the past three years. Reported Earnings • Mar 14
Full year 2025 earnings released: EPS: NT$2.48 (vs NT$0.26 in FY 2024) Full year 2025 results: EPS: NT$2.48 (up from NT$0.26 in FY 2024). Revenue: NT$7.32b (down 6.9% from FY 2024). Net income: NT$1.25b (up NT$1.12b from FY 2024). Profit margin: 17% (up from 1.7% 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 52% 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 04
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to NT$52.50, the stock trades at a trailing P/E ratio of 43.7x. Average trailing P/E is 36x in the Semiconductor industry in Taiwan. Total returns to shareholders of 286% over the past three years. Tillkännagivande • Feb 26
Walton Advanced Engineering, Inc., Annual General Meeting, Jun 17, 2026 Walton Advanced Engineering, Inc., Annual General Meeting, Jun 17, 2026. Location: 5 floor no,18, pei i rd., cianjhen district, kaohsiung city Taiwan Valuation Update With 7 Day Price Move • Feb 03
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to NT$65.70, the stock trades at a trailing P/E ratio of 54.7x. Average trailing P/E is 33x in the Semiconductor industry in Taiwan. Total returns to shareholders of 443% over the past three years. Valuation Update With 7 Day Price Move • Jan 19
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to NT$88.00, the stock trades at a trailing P/E ratio of 73.2x. Average trailing P/E is 33x in the Semiconductor industry in Taiwan. Total returns to shareholders of 660% over the past three years. Valuation Update With 7 Day Price Move • Jan 05
Investor sentiment improves as stock rises 27% After last week's 27% share price gain to NT$68.50, the stock trades at a trailing P/E ratio of 57x. Average trailing P/E is 30x in the Semiconductor industry in Taiwan. Total returns to shareholders of 507% over the past three years. Valuation Update With 7 Day Price Move • Dec 09
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to NT$47.90, the stock trades at a trailing P/E ratio of 39.9x. Average trailing P/E is 30x in the Semiconductor industry in Taiwan. Total returns to shareholders of 302% over the past three years. Valuation Update With 7 Day Price Move • Nov 21
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to NT$32.25, the stock trades at a trailing P/E ratio of 26.7x. Average trailing P/E is 29x in the Semiconductor industry in Taiwan. Total returns to shareholders of 166% over the past three years. Reported Earnings • Nov 12
Third quarter 2025 earnings released: EPS: NT$1.72 (vs NT$0.077 loss in 3Q 2024) Third quarter 2025 results: EPS: NT$1.72 (up from NT$0.077 loss in 3Q 2024). Revenue: NT$1.87b (down 4.9% from 3Q 2024). Net income: NT$871.8m (up NT$910.9m from 3Q 2024). Profit margin: 47% (up from net loss in 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has increased by 45% per year, which means it is well ahead of earnings. Buy Or Sell Opportunity • Nov 12
Now 26% overvalued after recent price rise Over the last 90 days, the stock has risen 197% to NT$38.30. The fair value is estimated to be NT$30.49, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 9.0% over the last 3 years. Meanwhile, the company became loss making. Buy Or Sell Opportunity • Oct 07
Now 27% overvalued after recent price rise Over the last 90 days, the stock has risen 80% to NT$23.35. The fair value is estimated to be NT$18.45, 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. Meanwhile, the company became loss making. New Risk • Oct 03
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 6.5% 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: Major Risk Earnings have declined by 32% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (6.5% average weekly change). Buy Or Sell Opportunity • Sep 03
Now 20% undervalued Over the last 90 days, the stock has risen 3.9% to NT$13.45. The fair value is estimated to be NT$16.90, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 8.8% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • Aug 13
Second quarter 2025 earnings released: NT$0.65 loss per share (vs NT$0.12 profit in 2Q 2024) Second quarter 2025 results: NT$0.65 loss per share (down from NT$0.12 profit in 2Q 2024). Revenue: NT$1.66b (down 13% from 2Q 2024). Net loss: NT$327.7m (down NT$387.2m from profit in 2Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 67 percentage points per year, which is a significant difference in performance. Declared Dividend • Jun 28
Dividend reduced to NT$0.20 Dividend of NT$0.20 is 1.9% lower than last year. Ex-date: 15th July 2025 Payment date: 30th July 2025 Dividend yield will be 1.4%, which is lower than the industry average of 3.0%. Sustainability & Growth Dividend is covered by both earnings (68% earnings payout ratio) and cash flows (5% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to decline by 24% to shift the payout ratio to a potentially unsustainable range, which is more than the 9.9% EPS decline seen over the last 5 years. Tillkännagivande • Jun 12
Walton Advanced Engineering, Inc. Announces Board Changes Walton Advanced Engineering, Inc. at its AGM held on, June 11, 2025, approved Chiao Yu-Chi - Walsin Lihwa Corp. Representative as Director. Title and name of the previous position holder: Director: Walsin Lihwa Corp. Representative Chiao Yu-Lon; Resume of the previous position holder: Director: Walsin Lihwa Corp. Representative Chiao Yu-Lon (Chairman and CEO of Walsin Lihwa Corp.). Original term from June 14, 2022 to June 13, 2025; Effective date of the new appointment: June 11, 2025. Reported Earnings • May 15
First quarter 2025 earnings released: EPS: NT$0.21 (vs NT$0.30 in 1Q 2024) First quarter 2025 results: EPS: NT$0.21 (down from NT$0.30 in 1Q 2024). Revenue: NT$1.79b (down 9.4% from 1Q 2024). Net income: NT$106.0m (down 31% from 1Q 2024). Profit margin: 5.9% (down from 7.8% in 1Q 2024). Over the last 3 years on average, earnings per share has fallen by 41% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Tillkännagivande • Apr 22
Walton Advanced Engineering, Inc. to Report Q1, 2025 Results on Apr 29, 2025 Walton Advanced Engineering, Inc. announced that they will report Q1, 2025 results on Apr 29, 2025 New Risk • Apr 10
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 7.9% 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. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 15% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (7.9% average weekly change). Large one-off items impacting financial results. 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$11.25, the stock trades at a trailing P/E ratio of 42.4x. Average trailing P/E is 22x in the Semiconductor industry in Taiwan. Total loss to shareholders of 25% over the past three years. New Risk • Mar 30
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 82% 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 15% per year over the past 5 years. Minor Risk Large one-off items impacting financial results. Reported Earnings • Mar 19
Full year 2024 earnings released: EPS: NT$0.26 (vs NT$0.013 loss in FY 2023) Full year 2024 results: EPS: NT$0.26 (up from NT$0.013 loss in FY 2023). Revenue: NT$7.86b (up 8.0% from FY 2023). Net income: NT$134.3m (up NT$141.1m from FY 2023). Profit margin: 1.7% (up from net loss in FY 2023). The move to profitability was driven by higher 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 5% per year, which means it has not declined as severely as earnings. Tillkännagivande • Feb 21
Walton Advanced Engineering, Inc., Annual General Meeting, Jun 11, 2025 Walton Advanced Engineering, Inc., Annual General Meeting, Jun 11, 2025. Location: 5 floor no,18, pei i rd., cianjhen district, kaohsiung city Taiwan Valuation Update With 7 Day Price Move • Feb 19
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$15.90, the stock trades at a trailing P/E ratio of 52.5x. Average trailing P/E is 31x in the Semiconductor industry in Taiwan. Total loss to shareholders of 8.6% over the past three years. Tillkännagivande • Feb 13
Walton Advanced Engineering, Inc. to Report Fiscal Year 2024 Results on Feb 20, 2025 Walton Advanced Engineering, Inc. announced that they will report fiscal year 2024 results on Feb 20, 2025 Buy Or Sell Opportunity • Dec 16
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 18% to NT$14.15. The fair value is estimated to be NT$18.02, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 4.4% over the last 3 years. Meanwhile, the company has become profitable. Reported Earnings • Nov 18
Third quarter 2024 earnings released: NT$0.08 loss per share (vs NT$0.034 profit in 3Q 2023) Third quarter 2024 results: NT$0.08 loss per share (down from NT$0.034 profit in 3Q 2023). Revenue: NT$1.97b (up 14% from 3Q 2023). Net loss: NT$39.1m (down 323% from profit in 3Q 2023). Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Tillkännagivande • Oct 23
Walton Advanced Engineering, Inc. to Report Q3, 2024 Results on Oct 30, 2024 Walton Advanced Engineering, Inc. announced that they will report Q3, 2024 results on Oct 30, 2024 Reported Earnings • Aug 16
Second quarter 2024 earnings released: EPS: NT$0.12 (vs NT$0.081 loss in 2Q 2023) Second quarter 2024 results: EPS: NT$0.12 (up from NT$0.081 loss in 2Q 2023). Revenue: NT$1.90b (up 9.3% from 2Q 2023). Net income: NT$59.5m (up NT$101.1m from 2Q 2023). Profit margin: 3.1% (up from net loss in 2Q 2023). Over the last 3 years on average, earnings per share has fallen by 32% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Tillkännagivande • Jul 24
Walton Advanced Engineering, Inc. to Report Q2, 2024 Results on Aug 01, 2024 Walton Advanced Engineering, Inc. announced that they will report Q2, 2024 results on Aug 01, 2024 Upcoming Dividend • Jul 07
Upcoming dividend of NT$0.20 per share Eligible shareholders must have bought the stock before 11 July 2024. Payment date: 31 July 2024. Payout ratio is on the higher end at 97%, however this is supported by cash flows. Trailing yield: 0.9%. Lower than top quartile of Taiwanese dividend payers (4.2%). Lower than average of industry peers (2.0%). Declared Dividend • Jun 22
Dividend increased to NT$0.20 Dividend of NT$0.20 is 36% higher than last year. Ex-date: 11th July 2024 Payment date: 31st July 2024 Dividend yield will be 1.0%, which is lower than the industry average of 3.0%. Reported Earnings • May 18
First quarter 2024 earnings released: EPS: NT$0.30 (vs NT$0.074 in 1Q 2023) First quarter 2024 results: EPS: NT$0.30 (up from NT$0.074 in 1Q 2023). Revenue: NT$1.98b (up 8.2% from 1Q 2023). Net income: NT$153.9m (up 302% from 1Q 2023). Profit margin: 7.8% (up from 2.1% in 1Q 2023). Over the last 3 years on average, earnings per share has fallen by 41% 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 16
Full year 2023 earnings released: NT$0.01 loss per share (vs NT$0.50 profit in FY 2022) Full year 2023 results: NT$0.01 loss per share (down from NT$0.50 profit in FY 2022). Revenue: NT$7.28b (down 24% from FY 2022). Net loss: NT$6.81m (down 103% from profit in FY 2022). Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Tillkännagivande • Feb 23
Walton Advanced Engineering, Inc., Annual General Meeting, Jun 06, 2024 Walton Advanced Engineering, Inc., Annual General Meeting, Jun 06, 2024. Location: 5F.Conference Room, No. 18, North First Rd Qianzhen Dist Kaohsiung Taiwan Agenda: To consider and approve 2023 Business Report and Financial Statements; to consider and approve Audit Committee's review report of 2023; to consider 2023 remuneration of employees and directors; and to discuss other matters. New Risk • Nov 01
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 5.7% 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: Major Risk Earnings have declined by 9.3% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (5.7% average weekly change). Large one-off items impacting financial results. Valuation Update With 7 Day Price Move • Oct 24
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to NT$16.35, the stock trades at a trailing P/E ratio of 40.2x. Average trailing P/E is 22x in the Semiconductor industry in Taiwan. Total returns to shareholders of 49% over the past three years. New Risk • Aug 13
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 53% 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 9.3% per year over the past 5 years. Minor Risk Large one-off items impacting financial results. Reported Earnings • Aug 12
Second quarter 2023 earnings released: NT$0.08 loss per share (vs NT$0.024 loss in 2Q 2022) Second quarter 2023 results: NT$0.08 loss per share (further deteriorated from NT$0.024 loss in 2Q 2022). Revenue: NT$1.74b (down 28% from 2Q 2022). Net loss: NT$41.6m (loss widened 237% from 2Q 2022). Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Upcoming Dividend • Jul 13
Upcoming dividend of NT$0.15 per share at 1.1% yield Eligible shareholders must have bought the stock before 20 July 2023. Payment date: 17 August 2023. Payout ratio is a comfortable 30% and this is well supported by cash flows. Trailing yield: 1.1%. Lower than top quartile of Taiwanese dividend payers (5.5%). Lower than average of industry peers (3.2%). Tillkännagivande • Jul 06
Walton Advanced Engineering, Inc. Announces Cash Dividend, Payable on August 17, 2023 Walton Advanced Engineering, Inc. announced the total amount of cash dividend to common shareholders is TWD 77,360,982 and the distribution ratio is TWD 0.15 per share. Payment date of cash dividend distribution is August 17, 2023. Ex-rights (ex-dividend) trading date is July 20, 2023. Last date before book closure is July 21, 2023. Book closure starting date is July 24, 2023. Book closure ending date is July 28, 2023. Ex-rights (ex-dividend) record date is July 28, 2023. Reported Earnings • Mar 18
Full year 2022 earnings released: EPS: NT$0.50 (vs NT$0.43 in FY 2021) Full year 2022 results: EPS: NT$0.50 (up from NT$0.43 in FY 2021). Revenue: NT$9.51b (up 17% from FY 2021). Net income: NT$258.1m (up 17% from FY 2021). Profit margin: 2.7% (in line with FY 2021). Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has increased by 22% per year, which means it is tracking significantly ahead of earnings growth. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Director Ching-Ya Chiu was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 13
Third quarter 2022 earnings released: EPS: NT$0.52 (vs NT$0.035 in 3Q 2021) Third quarter 2022 results: EPS: NT$0.52 (up from NT$0.035 in 3Q 2021). Revenue: NT$2.61b (up 21% from 3Q 2021). Net income: NT$267.5m (up NT$249.6m from 3Q 2021). Profit margin: 10% (up from 0.8% in 3Q 2021). Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 13
Second quarter 2022 earnings released: NT$0.02 loss per share (vs NT$0.039 loss in 2Q 2021) Second quarter 2022 results: NT$0.02 loss per share (up from NT$0.039 loss in 2Q 2021). Revenue: NT$2.43b (up 12% from 2Q 2021). Net loss: NT$12.3m (loss narrowed 38% from 2Q 2021). 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 11% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jul 26
Upcoming dividend of NT$0.13 per share Eligible shareholders must have bought the stock before 02 August 2022. Payment date: 02 September 2022. Payout ratio is a comfortable 42% but the company is not cash flow positive. Trailing yield: 1.0%. Lower than top quartile of Taiwanese dividend payers (6.6%). Lower than average of industry peers (3.6%). Reported Earnings • May 17
First quarter 2022 earnings released: EPS: NT$0.11 (vs NT$0.063 in 1Q 2021) First quarter 2022 results: EPS: NT$0.11 (up from NT$0.063 in 1Q 2021). Revenue: NT$2.29b (up 63% from 1Q 2021). Net income: NT$57.4m (up 81% from 1Q 2021). Profit margin: 2.5% (up from 2.3% in 1Q 2021). Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 9 highly experienced directors. 3 independent directors (6 non-independent directors). Independent Director Hai-Yen Hao was the last independent director to join the board, commencing their role in 2004. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Apr 01
Full year 2021 earnings released: EPS: NT$0.43 (vs NT$0.52 in FY 2020) Full year 2021 results: EPS: NT$0.43 (down from NT$0.52 in FY 2020). Revenue: NT$8.12b (up 36% from FY 2020). Net income: NT$219.9m (down 14% from FY 2020). Profit margin: 2.7% (down from 4.3% in FY 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 11% per year whereas the company’s share price has increased by 14% per year. Tillkännagivande • Feb 24
Walton Advanced Engineering, Inc., Annual General Meeting, Jun 14, 2022 Walton Advanced Engineering, Inc., Annual General Meeting, Jun 14, 2022. Location: 5F.Conference Room, No. 18, North First Rd Qianzhen Dist Kao Hsiung City Taiwan Agenda: To ratify the 2021 Business Report and Financial Statements; to ratify the proposal for distribution of 2021 profits; to discuss the amendment to the Articles of Incorporation; to discuss the amendment to the Procedures for Acquisition or Disposal of Assets, Operational Procedures for Loaning Funds, Operational Procedures for Endorsements and Guarantees; to consider propose to elect the company's Directors; and to discuss the proposal for the release of new Directors's Non-Competition Obligations. Reported Earnings • Nov 15
Third quarter 2021 earnings released: EPS NT$0.03 (vs NT$0.42 in 3Q 2020) The company reported a mediocre third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: NT$2.16b (up 51% from 3Q 2020). Net income: NT$17.9m (down 91% from 3Q 2020). Profit margin: 0.8% (down from 14% in 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 21% per year, which means it is well ahead of earnings. Reported Earnings • Aug 18
Second quarter 2021 earnings released: NT$0.04 loss per share (vs NT$0.18 profit in 2Q 2020) The company reported a mediocre second quarter result with weaker earnings and weaker control over costs, although revenues improved. Second quarter 2021 results: Revenue: NT$2.18b (up 40% from 2Q 2020). Net loss: NT$19.8m (down 122% from profit in 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has increased by 14% per year, which means it is well ahead of earnings. Upcoming Dividend • Aug 05
Upcoming dividend of NT$0.20 per share Eligible shareholders must have bought the stock before 12 August 2021. Payment date: 03 September 2021. Trailing yield: 0.8%. Lower than top quartile of Taiwanese dividend payers (4.9%). Lower than average of industry peers (2.1%). Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment improved over the past week After last week's 19% share price gain to NT$25.10, the stock trades at a trailing P/E ratio of 29.7x. Average trailing P/E is 27x in the Semiconductor industry in Taiwan. Total returns to shareholders of 89% over the past three years. Valuation Update With 7 Day Price Move • Jul 08
Investor sentiment improved over the past week After last week's 17% share price gain to NT$21.00, the stock trades at a trailing P/E ratio of 24.9x. Average trailing P/E is 24x in the Semiconductor industry in Taiwan. Total returns to shareholders of 58% over the past three years. Reported Earnings • May 15
First quarter 2021 earnings released: EPS NT$0.06 (vs NT$0.27 loss 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$1.41b (down 10% from 1Q 2020). Net income: NT$31.7m (up NT$164.6m from 1Q 2020). Profit margin: 2.3% (up from net loss in 1Q 2020). Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • May 14
Investor sentiment deteriorated over the past week After last week's 20% share price decline to NT$13.60, the stock trades at a trailing P/E ratio of 26.4x. Average trailing P/E is 22x in the Semiconductor industry in Taiwan. Total returns to shareholders of 5.4% over the past three years. Valuation Update With 7 Day Price Move • Apr 21
Investor sentiment improved over the past week After last week's 27% share price gain to NT$18.55, the stock trades at a trailing P/E ratio of 36x. Average trailing P/E is 28x in the Semiconductor industry in Taiwan. Total returns to shareholders of 60% over the past three years. Reported Earnings • Mar 31
Full year 2020 earnings released: EPS NT$0.51 (vs NT$0.33 in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: NT$5.97b (down 11% from FY 2019). Net income: NT$254.9m (up 54% from FY 2019). Profit margin: 4.3% (up from 2.5% 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 48% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Tillkännagivande • Feb 26
Walton Advanced Engineering, Inc., Annual General Meeting, Jun 23, 2021 Walton Advanced Engineering, Inc., Annual General Meeting, Jun 23, 2021. Location: 5F.Conference Room, No. 18, North First Rd K.E.P.Z Kaohsiung City Taiwan Agenda: To consider 2020 business report and financial statements; to consider audit committee's review report of 2020; to consider 2020 report on remuneration of employees and directors; to discuss the amendment to the rules of procedure for shareholder meetings; to discuss the amendment to the operational procedures for endorsements and guarantees; and to consider other matters. Is New 90 Day High Low • Dec 23
New 90-day high: NT$14.00 The company is up 44% from its price of NT$9.74 on 24 September 2020. The Taiwanese market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Semiconductor industry, which is up 20% over the same period. Valuation Update With 7 Day Price Move • Dec 02
Market bids up stock over the past week After last week's 19% share price gain to NT$13.60, the stock is trading at a trailing P/E ratio of 21x, up from the previous P/E ratio of 17.6x. This compares to an average P/E of 24x in the Semiconductor industry in Taiwan. Total return to shareholders over the past three years is a loss of 12%. Is New 90 Day High Low • Nov 27
New 90-day high: NT$11.85 The company is up 19% from its price of NT$9.97 on 28 August 2020. The Taiwanese market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Semiconductor industry, which is up 15% over the same period. Reported Earnings • Nov 15
Third quarter 2020 earnings released: EPS NT$0.42 The company reported a mediocre third quarter result with weaker revenues, although earnings were flat and profit margins were improved. Third quarter 2020 results: Revenue: NT$1.43b (down 14% from 3Q 2019). Net income: NT$207.3m (flat on 3Q 2019). Profit margin: 14% (up from 13% in 3Q 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 50% 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. Valuation Update With 7 Day Price Move • Oct 26
Market bids up stock over the past week After last week's 17% share price gain to NT$11.65, the stock is trading at a trailing P/E ratio of 18x, up from the previous P/E ratio of 15.4x. This compares to an average P/E of 23x in the Semiconductor industry in Taiwan. Total return to shareholders over the past three years is a loss of 17%. Is New 90 Day High Low • Oct 23
New 90-day high: NT$10.90 The company is up 11% from its price of NT$9.86 on 24 July 2020. The Taiwanese market is up 5.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Semiconductor industry, which is up 13% over the same period.