Valuation Update With 7 Day Price Move • May 19
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to NT$52.60, the stock trades at a trailing P/E ratio of 17.7x. Average trailing P/E is 22x in the Tech industry in Taiwan. Total returns to shareholders of 48% over the past three years. Reported Earnings • May 06
First quarter 2026 earnings released: EPS: NT$0.83 (vs NT$0.57 in 1Q 2025) First quarter 2026 results: EPS: NT$0.83 (up from NT$0.57 in 1Q 2025). Revenue: NT$349.1m (up 16% from 1Q 2025). Net income: NT$46.9m (up 46% from 1Q 2025). Profit margin: 13% (up from 11% in 1Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Tillkännagivande • Feb 25
Jetway Information Co., Ltd., Annual General Meeting, May 22, 2026 Jetway Information Co., Ltd., Annual General Meeting, May 22, 2026. Location: 9 floor no,135 ln.235, pao ch`iao rd., sindian district, new taipei city Taiwan Reported Earnings • Feb 25
Full year 2025 earnings released: EPS: NT$2.72 (vs NT$2.85 in FY 2024) Full year 2025 results: EPS: NT$2.72 (down from NT$2.85 in FY 2024). Revenue: NT$1.41b (up 12% from FY 2024). Net income: NT$152.7m (down 20% from FY 2024). Profit margin: 11% (down from 15% in FY 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Reported Earnings • Nov 06
Third quarter 2025 earnings released: EPS: NT$0.81 (vs NT$0.71 in 3Q 2024) Third quarter 2025 results: EPS: NT$0.81 (up from NT$0.71 in 3Q 2024). Revenue: NT$435.8m (up 38% from 3Q 2024). Net income: NT$45.7m (up 2.2% from 3Q 2024). Profit margin: 11% (down from 14% in 3Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has increased by 14% per year, which means it is well ahead of earnings. New Risk • Sep 23
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 6.6% 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 Dividend is not well covered by earnings and cash flows. Payout ratio: 119% Cash payout ratio: 167% Minor Risk Share price has been volatile over the past 3 months (6.6% average weekly change). Valuation Update With 7 Day Price Move • Sep 15
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to NT$48.20, the stock trades at a trailing P/E ratio of 18.6x. Average trailing P/E is 23x in the Tech industry in Taiwan. Total returns to shareholders of 71% over the past three years. Reported Earnings • Aug 07
Second quarter 2025 earnings released: EPS: NT$0.58 (vs NT$1.05 in 2Q 2024) Second quarter 2025 results: EPS: NT$0.58 (down from NT$1.05 in 2Q 2024). Revenue: NT$310.3m (down 10.0% from 2Q 2024). Net income: NT$32.8m (down 44% from 2Q 2024). Profit margin: 11% (down from 17% in 2Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Declared Dividend • Jul 18
Dividend of NT$3.00 announced Shareholders will receive a dividend of NT$3.00. Ex-date: 31st July 2025 Payment date: 20th August 2025 Dividend yield will be 13%, which is higher than the industry average of 3.0%. Sustainability & Growth Dividend is not covered by earnings (117% earnings payout ratio) nor is it covered by cash flows (106% cash payout ratio). The dividend has increased by an average of 15% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 30% to bring the payout ratio under control. However, EPS has remained steady over the last 5 years so the company would need to improve on their historical growth rates. Reported Earnings • May 07
First quarter 2025 earnings released: EPS: NT$0.57 (vs NT$0.92 in 1Q 2024) First quarter 2025 results: EPS: NT$0.57 (down from NT$0.92 in 1Q 2024). Revenue: NT$300.1m (down 4.9% from 1Q 2024). Net income: NT$32.1m (down 38% from 1Q 2024). Profit margin: 11% (down from 16% in 1Q 2024). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Tillkännagivande • Apr 29
Jetway Information Co., Ltd. to Report Q1, 2025 Results on May 06, 2025 Jetway Information Co., Ltd. announced that they will report Q1, 2025 results on May 06, 2025 Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to NT$41.20, the stock trades at a trailing P/E ratio of 12.1x. Average trailing P/E is 18x in the Tech industry in Taiwan. Total returns to shareholders of 18% over the past three years. Buy Or Sell Opportunity • Apr 01
Now 23% overvalued The stock has been flat over the last 90 days, currently trading at NT$49.30. The fair value is estimated to be NT$40.23, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 17% over the last 3 years. Earnings per share has declined by 15%. Reported Earnings • Mar 12
Full year 2024 earnings released: EPS: NT$2.85 (vs NT$3.07 in FY 2023) Full year 2024 results: EPS: NT$2.85. Revenue: NT$1.25b (down 5.9% from FY 2023). Net income: NT$191.8m (up 11% from FY 2023). Profit margin: 15% (up from 13% in FY 2023). The increase in margin was driven by lower expenses. Tillkännagivande • Feb 26
Jetway Information Co., Ltd., Annual General Meeting, May 27, 2025 Jetway Information Co., Ltd., Annual General Meeting, May 27, 2025. Location: 9 floor no,135 ln.235, pao ch`iao rd., sindian district, new taipei city Taiwan Tillkännagivande • Feb 18
Jetway Information Co., Ltd. to Report Fiscal Year 2024 Results on Feb 25, 2025 Jetway Information Co., Ltd. announced that they will report fiscal year 2024 results on Feb 25, 2025 New Risk • Jan 12
New major risk - Financial data availability The company has not reported any financial data. This is considered a major risk. With no or incomplete audited reported financial data, it is virtually impossible to assess the company's investment potential. Currently, the following risks have been identified for the company: Major Risk No financial data reported. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (NT$2.63b market cap, or US$79.3m). New Risk • Dec 16
New major risk - Financial data availability The company has not reported any financial data. This is considered a major risk. With no or incomplete audited reported financial data, it is virtually impossible to assess the company's investment potential. Currently, the following risks have been identified for the company: Major Risk No financial data reported. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (NT$2.78b market cap, or US$85.4m). Reported Earnings • Nov 08
Third quarter 2024 earnings released: EPS: NT$0.71 (vs NT$1.21 in 3Q 2023) Third quarter 2024 results: EPS: NT$0.71 (down from NT$1.21 in 3Q 2023). Revenue: NT$316.6m (down 18% from 3Q 2023). Net income: NT$44.8m (down 34% from 3Q 2023). Profit margin: 14% (down from 18% in 3Q 2023). The decrease in margin was driven by lower revenue. 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 9% per year, which means it is well ahead of earnings. Tillkännagivande • Oct 29
Jetway Information Co., Ltd. to Report Q3, 2024 Results on Nov 05, 2024 Jetway Information Co., Ltd. announced that they will report Q3, 2024 results on Nov 05, 2024 New Risk • Oct 22
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: NT$3.20b (US$99.8m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (NT$3.20b market cap, or US$99.8m). Upcoming Dividend • Oct 02
Upcoming dividend of NT$2.50 per share Eligible shareholders must have bought the stock before 09 October 2024. Payment date: 25 October 2024. Payout ratio is a comfortable 65% and this is well supported by cash flows. Trailing yield: 4.3%. Within top quartile of Taiwanese dividend payers (4.3%). Higher than average of industry peers (3.2%). Buy Or Sell Opportunity • Sep 04
Now 23% undervalued after recent price drop Over the last 90 days, the stock has fallen 25% to NT$49.30. The fair value is estimated to be NT$64.05, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 11% over the last 3 years. Earnings per share has declined by 3.0%. Reported Earnings • Aug 12
Second quarter 2024 earnings released: EPS: NT$0.79 (vs NT$0.43 in 2Q 2023) Second quarter 2024 results: EPS: NT$0.79 (up from NT$0.43 in 2Q 2023). Revenue: NT$344.8m (up 13% from 2Q 2023). Net income: NT$59.0m (up 82% from 2Q 2023). Profit margin: 17% (up from 11% in 2Q 2023). The increase in margin was driven by higher 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 25% per year, which means it is well ahead of earnings. Buy Or Sell Opportunity • Aug 07
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 5.9% to NT$49.60. The fair value is estimated to be NT$41.02, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 6.7% over the last 3 years. Earnings per share has grown by 3.3%. Tillkännagivande • Jul 26
Jetway Information Co., Ltd. to Report Q2, 2024 Results on Aug 02, 2024 Jetway Information Co., Ltd. announced that they will report Q2, 2024 results on Aug 02, 2024 New Risk • Jul 19
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 6.7% 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: 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 (6.7% average weekly change). Declared Dividend • Jul 09
Dividend reduced to NT$2.00 Dividend of NT$2.00 is 20% lower than last year. Ex-date: 18th July 2024 Payment date: 15th August 2024 Dividend yield will be 3.3%, which is higher than the industry average of 3.0%. Sustainability & Growth Dividend is covered by both earnings (73% earnings payout ratio) and cash flows (47% cash payout ratio). The dividend has increased by an average of 21% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 14% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. New Risk • Jun 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 6.6% 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 (6.6% average weekly change). Valuation Update With 7 Day Price Move • May 27
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to NT$59.90, the stock trades at a trailing P/E ratio of 21.8x. Average trailing P/E is 24x in the Tech industry in Taiwan. Total returns to shareholders of 244% over the past three years. Reported Earnings • May 12
First quarter 2024 earnings released: EPS: NT$0.69 (vs NT$0.24 in 1Q 2023) First quarter 2024 results: EPS: NT$0.69 (up from NT$0.24 in 1Q 2023). Revenue: NT$315.7m (up 4.8% from 1Q 2023). Net income: NT$51.6m (up 184% from 1Q 2023). Profit margin: 16% (up from 6.0% in 1Q 2023). The increase in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 31% per year, which means it is tracking significantly ahead of earnings growth. Tillkännagivande • May 08
Jetway Information Co., Ltd. Appoints Vicky Chou as Corporate Governance Officer Jetway Information Co., Ltd. announced change of corporate governance officer. Effective date is May 7, 2024. Name, title, and resume of the new position holder: Vicky Chou/Vice President. Reason for the change: new replacement. Newly appointed corporate governance officer approved by the Board of Directors on May 7, 2024. Tillkännagivande • May 02
Jetway Information Co., Ltd. to Report Q1, 2024 Results on May 07, 2024 Jetway Information Co., Ltd. announced that they will report Q1, 2024 results at 9:00 AM, Taipei Standard Time on May 07, 2024 New Risk • Apr 22
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: NT$3.26b (US$99.9m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (NT$3.26b market cap, or US$99.9m). New Risk • Mar 12
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. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by earnings (101% payout ratio). Share price has been volatile over the past 3 months (5.9% average weekly change). Reported Earnings • Mar 05
Full year 2023 earnings released: EPS: NT$2.30 (vs NT$3.50 in FY 2022) Full year 2023 results: EPS: NT$2.30 (down from NT$3.50 in FY 2022). Revenue: NT$1.33b (down 25% from FY 2022). Net income: NT$172.4m (down 34% from FY 2022). Profit margin: 13% (down from 15% in FY 2022). 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 but the company’s share price has increased by 36% per year, which means it is tracking significantly ahead of earnings growth. Tillkännagivande • Feb 29
Jetway Information Co., Ltd. Announces Appointment Chuang, Yung-Shun as President, Effective March 1, 2024 Jetway Information Co., Ltd. announced appointment Mr. Chuang, Yung-Shun, The Chairman of JETWAY as President. Type of change is new replacement. Reason for the change: For the development needs of the Company. Effective date is effective March 1, 2024. Tillkännagivande • Feb 28
Jetway Information Co., Ltd., Annual General Meeting, Jun 12, 2024 Jetway Information Co., Ltd., Annual General Meeting, Jun 12, 2024. Location: 9F, No.135, Ln. 235, Baoqiao Rd Xindian Dist., New Taipei City 231 New Taipei City Taiwan Agenda: To 2023 business report; to consider The 2023 Audit Committee's review report; to consider 2023 employee's and director's compensation; to Acknowledgment of the 2023 business report and financial statements; to Acknowledgment of the 2023 Earnings Distribution; and to discuss other matters. Reported Earnings • Aug 05
Second quarter 2023 earnings released: EPS: NT$0.43 (vs NT$0.83 in 2Q 2022) Second quarter 2023 results: EPS: NT$0.43 (down from NT$0.83 in 2Q 2022). Revenue: NT$306.3m (down 28% from 2Q 2022). Net income: NT$32.4m (down 48% from 2Q 2022). Profit margin: 11% (down from 15% in 2Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has increased by 32% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Aug 04
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 14.5x. Average trailing P/E is 21x in the Tech industry in Taiwan. Total returns to shareholders of 184% over the past three years. Upcoming Dividend • Jul 20
Upcoming dividend of NT$2.50 per share at 5.7% yield Eligible shareholders must have bought the stock before 27 July 2023. Payment date: 25 August 2023. Payout ratio is on the higher end at 88%, however this is supported by cash flows. Trailing yield: 5.7%. Within top quartile of Taiwanese dividend payers (5.5%). Higher than average of industry peers (3.3%). New Risk • Jul 19
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 6.6% 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 (6.6% average weekly change). Valuation Update With 7 Day Price Move • Jul 18
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to NT$46.75, the stock trades at a trailing P/E ratio of 16.4x. Average trailing P/E is 22x in the Tech industry in Taiwan. Total returns to shareholders of 207% over the past three years. Valuation Update With 7 Day Price Move • Jun 02
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to NT$38.55, the stock trades at a trailing P/E ratio of 11x. Average trailing P/E is 18x in the Tech industry in Taiwan. Total returns to shareholders of 146% over the past three years. Reported Earnings • Mar 30
Full year 2022 earnings released: EPS: NT$3.50 (vs NT$3.28 in FY 2021) Full year 2022 results: EPS: NT$3.50 (up from NT$3.28 in FY 2021). Revenue: NT$1.78b (down 2.5% from FY 2021). Net income: NT$262.2m (up 6.6% from FY 2021). Profit margin: 15% (up from 14% in FY 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 26% per year whereas the company’s share price has increased by 30% per year. Valuation Update With 7 Day Price Move • Mar 27
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to NT$34.30, the stock trades at a trailing P/E ratio of 9.9x. Average trailing P/E is 14x in the Tech industry in Taiwan. Total returns to shareholders of 183% over the past three years. Reported Earnings • Nov 10
Third quarter 2022 earnings released: EPS: NT$0.88 (vs NT$1.02 in 3Q 2021) Third quarter 2022 results: EPS: NT$0.88 (down from NT$1.02 in 3Q 2021). Revenue: NT$442.3m (down 10% from 3Q 2021). Net income: NT$66.1m (down 13% from 3Q 2021). Profit margin: 15% (in line with 3Q 2021). Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jul 01
Investor sentiment deteriorated over the past week After last week's 19% share price decline to NT$23.70, the stock trades at a trailing P/E ratio of 6.4x. Average trailing P/E is 13x in the Tech industry in Taiwan. Total returns to shareholders of 48% over the past three years. Upcoming Dividend • Jun 20
Upcoming dividend of NT$3.00 per share Eligible shareholders must have bought the stock before 27 June 2022. Payment date: 28 July 2022. Payout ratio is on the higher end at 82%, and the cash payout ratio is above 100%. Trailing yield: 9.8%. Within top quartile of Taiwanese dividend payers (6.2%). Higher than average of industry peers (7.1%). Reported Earnings • May 09
First quarter 2022 earnings released: EPS: NT$0.89 (vs NT$0.50 in 1Q 2021) First quarter 2022 results: EPS: NT$0.89 (up from NT$0.50 in 1Q 2021). Revenue: NT$533.8m (up 49% from 1Q 2021). Net income: NT$67.0m (up 79% from 1Q 2021). Profit margin: 13% (up from 10% in 1Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth. Reported Earnings • Mar 28
Full year 2021 earnings released: EPS: NT$3.28 (vs NT$1.57 in FY 2020) Full year 2021 results: EPS: NT$3.28 (up from NT$1.57 in FY 2020). Revenue: NT$1.82b (up 31% from FY 2020). Net income: NT$246.1m (up 100% from FY 2020). Profit margin: 14% (up from 8.8% in FY 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has increased by 23% per year, which means it is tracking significantly ahead of earnings growth. Tillkännagivande • Mar 23
Jetway Information Co., Ltd., Annual General Meeting, Jun 09, 2022 Jetway Information Co., Ltd., Annual General Meeting, Jun 09, 2022. Valuation Update With 7 Day Price Move • Feb 11
Investor sentiment improved over the past week After last week's 22% share price gain to NT$34.70, the stock trades at a trailing P/E ratio of 12.3x. Average trailing P/E is 17x in the Tech industry in Taiwan. Total returns to shareholders of 124% over the past three years. Reported Earnings • Nov 10
Third quarter 2021 earnings released: EPS NT$1.02 (vs NT$0.21 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$491.9m (up 36% from 3Q 2020). Net income: NT$76.1m (up 353% from 3Q 2020). Profit margin: 16% (up from 4.7% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 23% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Aug 12
Second quarter 2021 earnings released: EPS NT$0.90 (vs NT$0.29 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: NT$479.1m (up 58% from 2Q 2020). Net income: NT$67.4m (up 194% from 2Q 2020). Profit margin: 14% (up from 7.5% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 11% 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. Upcoming Dividend • Jul 26
Upcoming dividend of NT$1.60 per share Eligible shareholders must have bought the stock before 02 August 2021. Payment date: 27 August 2021. Trailing yield: 5.5%. Within top quartile of Taiwanese dividend payers (4.9%). In line with average of industry peers (5.1%). Valuation Update With 7 Day Price Move • Jul 08
Investor sentiment improved over the past week After last week's 16% share price gain to NT$27.10, the stock trades at a trailing P/E ratio of 19.5x. Average trailing P/E is 15x in the Tech industry in Taiwan. Total returns to shareholders of 41% over the past three years. Reported Earnings • May 11
First quarter 2021 earnings released: EPS NT$0.49 (vs NT$0.67 in 1Q 2020) The company reported a poor first quarter result with weaker earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$359.5m (down 2.6% from 1Q 2020). Net income: NT$37.5m (down 29% from 1Q 2020). Profit margin: 10% (down from 14% in 1Q 2020). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Reported Earnings • Mar 23
Full year 2020 earnings released: EPS NT$1.57 (vs NT$2.08 in FY 2019) The company reported a poor full year result with weaker earnings and revenues, although profit margins were flat. Full year 2020 results: Revenue: NT$1.39b (down 17% from FY 2019). Net income: NT$123.3m (down 25% from FY 2019). Profit margin: 8.8% (in line with FY 2019). Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Dec 03
New 90-day high: NT$18.45 The company is up 2.0% from its price of NT$18.15 on 04 September 2020. The Taiwanese market is up 9.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Tech industry, which is down 1.0% over the same period. Reported Earnings • Nov 10
Third quarter 2020 earnings released: EPS NT$0.21 The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2020 results: Revenue: NT$361.5m (down 20% from 3Q 2019). Net income: NT$16.8m (down 65% from 3Q 2019). Profit margin: 4.7% (down from 10% in 3Q 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 11% per year whereas the company’s share price has fallen by 6% per year. Is New 90 Day High Low • Oct 15
New 90-day low: NT$17.15 The company is down 4.0% from its price of NT$17.85 on 17 July 2020. The Taiwanese market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Tech industry, which is down 2.0% over the same period.