Declared Dividend • Jun 01
Dividend of NT$10.00 announced Shareholders will receive a dividend of NT$10.00. Ex-date: 6th July 2026 Payment date: 30th July 2026 Dividend yield will be 6.0%, which is higher than the industry average of 3.0%. Sustainability & Growth Dividend is not covered by earnings (103% earnings payout ratio). However, it is covered by cash flows (82% cash payout ratio). The dividend has increased by an average of 2.5% 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 14% to bring the payout ratio under control. However, EPS has declined by 1.3% over the last 5 years so the company would need to reverse this trend. Reported Earnings • Apr 24
First quarter 2026 earnings released: EPS: NT$2.00 (vs NT$1.89 in 1Q 2025) First quarter 2026 results: EPS: NT$2.00 (up from NT$1.89 in 1Q 2025). Revenue: NT$344.6m (up 23% from 1Q 2025). Net income: NT$96.4m (up 45% from 1Q 2025). Profit margin: 28% (up from 24% in 1Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • Mar 30
Now 21% undervalued Over the last 90 days, the stock has risen 5.1% to NT$166. The fair value is estimated to be NT$209, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 5.6%. Buy Or Sell Opportunity • Mar 09
Now 21% undervalued Over the last 90 days, the stock has risen 7.4% to NT$167. The fair value is estimated to be NT$210, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 5.6%. Duyuru • Feb 05
Pro-Hawk Corporation, Annual General Meeting, May 25, 2026 Pro-Hawk Corporation, Annual General Meeting, May 25, 2026. Location: no,9, wu kung 6th rd., wugu district, new taipei city Taiwan Reported Earnings • Feb 05
Full year 2025 earnings released: EPS: NT$9.80 (vs NT$10.19 in FY 2024) Full year 2025 results: EPS: NT$9.80 (down from NT$10.19 in FY 2024). Revenue: NT$1.43b (down 2.4% from FY 2024). Net income: NT$344.2m (down 3.9% from FY 2024). Profit margin: 24% (in line with FY 2024). 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 2% per year. Reported Earnings • Oct 31
Third quarter 2025 earnings released: EPS: NT$2.32 (vs NT$1.79 in 3Q 2024) Third quarter 2025 results: EPS: NT$2.32 (up from NT$1.79 in 3Q 2024). Revenue: NT$333.0m (up 7.9% from 3Q 2024). Net income: NT$81.4m (up 30% from 3Q 2024). Profit margin: 24% (up from 20% in 3Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 1% per year whereas the company’s share price has fallen by 2% per year. Reported Earnings • Aug 02
Second quarter 2025 earnings released: EPS: NT$2.83 (vs NT$3.42 in 2Q 2024) Second quarter 2025 results: EPS: NT$2.83 (down from NT$3.42 in 2Q 2024). Revenue: NT$473.3m (up 5.1% from 2Q 2024). Net income: NT$99.4m (down 17% from 2Q 2024). Profit margin: 21% (down from 27% in 2Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 4% per year and the company’s share price has also fallen by 4% per year. Upcoming Dividend • Jul 03
Upcoming dividend of NT$10.00 per share Eligible shareholders must have bought the stock before 10 July 2025. Payment date: 30 July 2025. The company is paying out more than 100% of its profits and is paying out 91% of its cash flow. Trailing yield: 6.3%. Within top quartile of Taiwanese dividend payers (5.3%). Higher than average of industry peers (2.8%). Declared Dividend • Jun 12
Dividend increased to NT$10.00 Dividend of NT$10.00 is 43% higher than last year. Ex-date: 10th July 2025 Payment date: 30th July 2025 Dividend yield will be 6.3%, which is higher than the industry average of 3.0%. Sustainability & Growth Dividend is not covered by earnings (111% earnings payout ratio) nor is it adequately covered by cash flows (91% cash payout ratio). The dividend has increased by an average of 2.9% 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 24% 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 05
First quarter 2025 earnings released: EPS: NT$1.89 (vs NT$3.10 in 1Q 2024) First quarter 2025 results: EPS: NT$1.89 (down from NT$3.10 in 1Q 2024). Revenue: NT$280.5m (down 33% from 1Q 2024). Net income: NT$66.5m (down 39% from 1Q 2024). Profit margin: 24% (down from 26% in 1Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 4% per year and the company’s share price has also fallen by 4% per year. Valuation Update With 7 Day Price Move • Apr 09
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to NT$133, the stock trades at a trailing P/E ratio of 13.1x. Average trailing P/E is 16x in the Machinery industry in Taiwan. Total loss to shareholders of 12% over the past three years. New Risk • Feb 18
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 98% Cash payout ratio: 96% Dividend yield: 5.8% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 98% Cash payout ratio: 96% Earnings have declined by 2.7% per year over the past 5 years. Reported Earnings • Feb 15
Full year 2024 earnings released: EPS: NT$10.19 (vs NT$6.79 in FY 2023) Full year 2024 results: EPS: NT$10.19 (up from NT$6.79 in FY 2023). Revenue: NT$1.47b (up 33% from FY 2023). Net income: NT$358.0m (up 50% from FY 2023). Profit margin: 24% (up from 22% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 5% per year whereas the company’s share price has fallen by 3% per year. Duyuru • Feb 11
Pro-Hawk Corporation, Annual General Meeting, May 23, 2025 Pro-Hawk Corporation, Annual General Meeting, May 23, 2025. Location: no,9, wu kung 6th rd., wugu district, new taipei city Taiwan 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 Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Reported Earnings • Nov 07
Third quarter 2024 earnings released: EPS: NT$1.79 (vs NT$2.43 in 3Q 2023) Third quarter 2024 results: EPS: NT$1.79 (down from NT$2.43 in 3Q 2023). Revenue: NT$308.7m (down 7.7% from 3Q 2023). Net income: NT$62.8m (down 26% from 3Q 2023). Profit margin: 20% (down from 26% 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 9% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Buy Or Sell Opportunity • Sep 26
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 8.0% to NT$162. The fair value is estimated to be NT$203, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 27% over the last 3 years. Earnings per share has declined by 13%. Buy Or Sell Opportunity • Sep 04
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 11% to NT$163. The fair value is estimated to be NT$205, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 27% over the last 3 years. Earnings per share has declined by 13%. Reported Earnings • Aug 10
Second quarter 2024 earnings released: EPS: NT$3.42 (vs NT$1.76 in 2Q 2023) Second quarter 2024 results: EPS: NT$3.42 (up from NT$1.76 in 2Q 2023). Revenue: NT$450.5m (up 73% from 2Q 2023). Net income: NT$120.2m (up 94% from 2Q 2023). Profit margin: 27% (up from 24% 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 13% 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. Upcoming Dividend • Jun 25
Upcoming dividend of NT$7.00 per share Eligible shareholders must have bought the stock before 02 July 2024. Payment date: 31 July 2024. Payout ratio is on the higher end at 79%, and the cash payout ratio is above 100%. Trailing yield: 4.0%. Lower than top quartile of Taiwanese dividend payers (4.3%). Higher than average of industry peers (2.5%). Reported Earnings • May 04
First quarter 2024 earnings released: EPS: NT$3.10 (vs NT$1.07 in 1Q 2023) First quarter 2024 results: EPS: NT$3.10 (up from NT$1.07 in 1Q 2023). Revenue: NT$415.6m (up 79% from 1Q 2023). Net income: NT$108.8m (up 189% from 1Q 2023). Profit margin: 26% (up from 16% in 1Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 17% 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. Reported Earnings • Apr 18
Full year 2023 earnings released: EPS: NT$6.79 (vs NT$10.30 in FY 2022) Full year 2023 results: EPS: NT$6.79 (down from NT$10.30 in FY 2022). Revenue: NT$1.10b (down 34% from FY 2022). Net income: NT$238.5m (down 34% from FY 2022). Profit margin: 22% (in line with FY 2022). 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 5% per year, which means it has not declined as severely as earnings. Duyuru • Mar 01
Pro-Hawk Corporation, Annual General Meeting, May 28, 2024 Pro-Hawk Corporation, Annual General Meeting, May 28, 2024. New Risk • Oct 29
New major risk - Revenue and earnings growth Earnings have declined by 0.08% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 0.08% per year over the past 5 years. Minor Risk Dividend is not well covered by earnings (169% payout ratio). Reported Earnings • Oct 29
Third quarter 2023 earnings released: EPS: NT$2.43 (vs NT$3.34 in 3Q 2022) Third quarter 2023 results: EPS: NT$2.43 (down from NT$3.34 in 3Q 2022). Revenue: NT$334.4m (down 19% from 3Q 2022). Net income: NT$85.3m (down 27% from 3Q 2022). Profit margin: 26% (down from 29% in 3Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 12% per year whereas the company’s share price has fallen by 8% per year. Reported Earnings • Jul 30
Second quarter 2023 earnings released: EPS: NT$1.76 (vs NT$3.20 in 2Q 2022) Second quarter 2023 results: EPS: NT$1.76 (down from NT$3.20 in 2Q 2022). Revenue: NT$260.8m (down 46% from 2Q 2022). Net income: NT$61.9m (down 45% from 2Q 2022). Profit margin: 24% (in line with 2Q 2022). Over the last 3 years on average, earnings per share has fallen by 5% per year whereas the company’s share price has fallen by 3% per year. Upcoming Dividend • Jun 28
Upcoming dividend of NT$10.20 per share at 6.1% yield Eligible shareholders must have bought the stock before 05 July 2023. Payment date: 28 July 2023. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 6.1%. Within top quartile of Taiwanese dividend payers (5.5%). Higher than average of industry peers (3.1%). Reported Earnings • Feb 25
Full year 2022 earnings released: EPS: NT$10.30 (vs NT$10.08 in FY 2021) Full year 2022 results: EPS: NT$10.30 (up from NT$10.08 in FY 2021). Revenue: NT$1.67b (down 27% from FY 2021). Net income: NT$361.8m (up 2.1% from FY 2021). Profit margin: 22% (up from 16% 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 6% per year whereas the company’s share price has increased by 2% per year. Board Change • Nov 16
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. 7 experienced directors. No highly experienced directors. 2 independent directors (5 non-independent directors). Independent Director Haocheng Hong was the last independent director to join the board, commencing their role in 2019. 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 • Oct 30
Third quarter 2022 earnings released: EPS: NT$3.34 (vs NT$2.35 in 3Q 2021) Third quarter 2022 results: EPS: NT$3.34 (up from NT$2.35 in 3Q 2021). Revenue: NT$410.5m (down 27% from 3Q 2021). Net income: NT$117.3m (up 42% from 3Q 2021). Profit margin: 29% (up from 15% in 3Q 2021). 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 3% per year. Reported Earnings • Jul 29
Second quarter 2022 earnings released: EPS: NT$3.20 (vs NT$2.69 in 2Q 2021) Second quarter 2022 results: EPS: NT$3.20 (up from NT$2.69 in 2Q 2021). Revenue: NT$483.1m (down 26% from 2Q 2021). Net income: NT$112.5m (up 19% from 2Q 2021). Profit margin: 23% (up from 14% in 2Q 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 7% per year whereas the company’s share price has increased by 5% per year. Upcoming Dividend • Jun 28
Upcoming dividend of NT$10.20 per share Eligible shareholders must have bought the stock before 05 July 2022. Payment date: 28 July 2022. Payout ratio is on the higher end at 99%, and the cash payout ratio is above 100%. Trailing yield: 5.4%. Lower than top quartile of Taiwanese dividend payers (6.3%). Higher than average of industry peers (3.1%). Reported Earnings • Apr 29
First quarter 2022 earnings released: EPS: NT$3.00 (vs NT$2.80 in 1Q 2021) First quarter 2022 results: EPS: NT$3.00 (up from NT$2.80 in 1Q 2021). Revenue: NT$530.0m (down 7.6% from 1Q 2021). Net income: NT$105.4m (up 7.1% from 1Q 2021). Profit margin: 20% (up from 17% in 1Q 2021). 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 5% per year. Duyuru • Feb 26
Pro-Hawk Corporation, Annual General Meeting, May 07, 2022 Pro-Hawk Corporation, Annual General Meeting, May 07, 2022. Reported Earnings • Jan 30
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: NT$10.08 (down from NT$11.10 in FY 2020). Revenue: NT$2.29b (up 22% from FY 2020). Net income: NT$354.2m (down 8.9% from FY 2020). Profit margin: 16% (down from 21% in FY 2020). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 9% per year whereas the company’s share price has increased by 10% per year. Reported Earnings • Nov 01
Third quarter 2021 earnings released: EPS NT$2.34 (vs NT$2.69 in 3Q 2020) The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: NT$564.5m (up 22% from 3Q 2020). Net income: NT$82.4m (down 13% from 3Q 2020). Profit margin: 15% (down from 21% in 3Q 2020). The decrease in margin was driven by higher 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 11% per year. Reported Earnings • Jul 31
Second quarter 2021 earnings released: EPS NT$2.69 (vs NT$2.52 in 2Q 2020) The company reported a solid second quarter result with improved earnings and revenues, although profit margins were weaker. Second quarter 2021 results: Revenue: NT$655.5m (up 56% from 2Q 2020). Net income: NT$94.7m (up 8.1% from 2Q 2020). Profit margin: 14% (down from 21% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 9% per year whereas the company’s share price has increased by 11% per year. Upcoming Dividend • Jun 29
Upcoming dividend of NT$10.00 per share Eligible shareholders must have bought the stock before 05 July 2021. Payment date: 30 July 2021. Trailing yield: 5.2%. Within top quartile of Taiwanese dividend payers (5.0%). Higher than average of industry peers (2.4%). Reported Earnings • Feb 03
Full year 2020 earnings released: EPS NT$11.10 (vs NT$9.00 in FY 2019) The company reported a solid full year result with improved earnings and revenues, although profit margins were flat. Full year 2020 results: Revenue: NT$1.88b (up 28% from FY 2019). Net income: NT$388.6m (up 23% from FY 2019). Profit margin: 21% (in line with FY 2019). 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 10% per year. Is New 90 Day High Low • Jan 21
New 90-day low: NT$186 The company is down 9.0% from its price of NT$204 on 23 October 2020. The Taiwanese market is up 21% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Machinery industry, which is up 22% over the same period. Is New 90 Day High Low • Jan 06
New 90-day low: NT$188 The company is down 6.0% from its price of NT$201 on 08 October 2020. The Taiwanese market is up 17% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Machinery industry, which is up 20% over the same period. Reported Earnings • Oct 27
Third quarter earnings released Over the last 12 months the company has reported total profits of NT$328.0m, largely unchanged from the prior year. Total revenue was NT$1.63b over the last 12 months, up 12% from the prior year. Is New 90 Day High Low • Sep 30
New 90-day high: NT$185 The company is up 13% from its price of NT$163 on 02 July 2020. The Taiwanese market is up 6.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Machinery industry, which is up 3.0% over the same period.