Reported Earnings • May 20
First quarter 2026 earnings released: EPS: NT$4.08 (vs NT$3.84 in 1Q 2025) First quarter 2026 results: EPS: NT$4.08 (up from NT$3.84 in 1Q 2025). Revenue: NT$1.10b (up 9.5% from 1Q 2025). Net income: NT$108.9m (up 6.2% from 1Q 2025). Profit margin: 9.9% (in line with 1Q 2025). Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Upcoming Dividend • Apr 02
Upcoming dividend of NT$13.50 per share Eligible shareholders must have bought the stock before 09 April 2026. Payment date: 30 April 2026. Payout ratio is on the higher end at 89%, however this is supported by cash flows. Trailing yield: 6.7%. Within top quartile of Taiwanese dividend payers (5.3%). Higher than average of industry peers (5.4%). Reported Earnings • Mar 18
Full year 2025 earnings released: EPS: NT$15.04 (vs NT$15.66 in FY 2024) Full year 2025 results: EPS: NT$15.04 (down from NT$15.66 in FY 2024). Revenue: NT$4.07b (up 12% from FY 2024). Net income: NT$401.5m (down 3.1% from FY 2024). Profit margin: 9.9% (down from 11% in FY 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Declared Dividend • Mar 14
Dividend reduced to NT$13.50 Dividend of NT$13.50 is 3.6% lower than last year. Ex-date: 9th April 2026 Payment date: 30th April 2026 Dividend yield will be 6.4%, which is higher than the industry average of 2.5%. Sustainability & Growth Dividend is covered by both earnings (89% earnings payout ratio) and cash flows (59% cash payout ratio). The dividend has increased by an average of 12% per year over the past 5 years. However, payments have been volatile during that time. Earnings per share has grown by 14% over the last 5 years, which if continued should maintain adequate earnings cover for the dividend. Duyuru • Mar 13
Tofu Restaurant Co., Ltd. announces Annual dividend, payable on April 30, 2026 Tofu Restaurant Co., Ltd. announced Annual dividend of TWD 13.5000 per share payable on April 30, 2026, ex-date on April 09, 2026 and record date on April 10, 2026. Duyuru • Mar 12
Tofu Restaurant Co., Ltd., Annual General Meeting, Jun 17, 2026 Tofu Restaurant Co., Ltd., Annual General Meeting, Jun 17, 2026. Location: 4 floor no,42, sec.2 min ch`uan e. rd., jhongshan district, taipei city Taiwan Reported Earnings • Nov 15
Third quarter 2025 earnings released: EPS: NT$4.34 (vs NT$3.52 in 3Q 2024) Third quarter 2025 results: EPS: NT$4.34 (up from NT$3.52 in 3Q 2024). Revenue: NT$1.05b (up 8.7% from 3Q 2024). Net income: NT$115.8m (up 24% from 3Q 2024). Profit margin: 11% (up from 9.7% in 3Q 2024). The increase in margin was driven by higher revenue. 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 6% per year. Buy Or Sell Opportunity • Oct 23
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 2.4% to NT$200. The fair value is estimated to be NT$250, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 20% over the last 3 years. Earnings per share has grown by 18%. Reported Earnings • Aug 15
Second quarter 2025 earnings released: EPS: NT$3.00 (vs NT$3.77 in 2Q 2024) Second quarter 2025 results: EPS: NT$3.00 (down from NT$3.77 in 2Q 2024). Revenue: NT$957.6m (up 12% from 2Q 2024). Net income: NT$80.2m (down 19% from 2Q 2024). Profit margin: 8.4% (down from 12% in 2Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 17
First quarter 2025 earnings released: EPS: NT$3.84 (vs NT$3.90 in 1Q 2024) First quarter 2025 results: EPS: NT$3.84. Revenue: NT$1.00b (up 17% from 1Q 2024). Net income: NT$102.6m (flat on 1Q 2024). Profit margin: 10% (down from 12% in 1Q 2024). The decrease in margin was driven by higher expenses. Reported Earnings • Apr 01
Full year 2024 earnings released: EPS: NT$15.66 (vs NT$14.78 in FY 2023) Full year 2024 results: EPS: NT$15.66 (up from NT$14.78 in FY 2023). Revenue: NT$3.65b (up 18% from FY 2023). Net income: NT$414.2m (up 6.7% from FY 2023). Profit margin: 11% (down from 13% in FY 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Duyuru • Mar 14
Tofu Restaurant Co., Ltd., Annual General Meeting, May 28, 2025 Tofu Restaurant Co., Ltd., Annual General Meeting, May 28, 2025, at 09:00 Taipei Standard Time. Location: 4 floor no,42, sec.2 min ch`uan e. rd., jhongshan district, taipei city Taiwan Declared Dividend • Mar 14
Dividend increased to NT$14.00 Dividend of NT$14.00 is 5.3% higher than last year. Ex-date: 27th March 2025 Payment date: 21st April 2025 Dividend yield will be 5.7%, which is higher than the industry average of 2.5%. Sustainability & Growth Dividend is not adequately covered by earnings (93% earnings payout ratio) nor is it adequately covered by cash flows (95% cash payout ratio). The dividend has increased by an average of 13% per year over the past 4 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 3.5% to bring the payout ratio under control, which is less than the 19% EPS growth achieved over the last 5 years. Duyuru • Mar 13
Tofu Restaurant Co., Ltd. announces Annual dividend, payable on April 21, 2025 Tofu Restaurant Co., Ltd. announced Annual dividend of TWD 14.0000 per share payable on April 21, 2025, ex-date on March 27, 2025 and record date on March 29, 2025. Board Change • Feb 03
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. 5 experienced directors. No highly experienced directors. 1 independent director (4 non-independent directors). was the last director to join the board, commencing their role in . 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 • Nov 19
Third quarter 2024 earnings released: EPS: NT$3.52 (vs NT$4.16 in 3Q 2023) Third quarter 2024 results: EPS: NT$3.52 (down from NT$4.16 in 3Q 2023). Revenue: NT$961.9m (up 18% from 3Q 2023). Net income: NT$93.4m (down 14% from 3Q 2023). Profit margin: 9.7% (down from 13% in 3Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 17
Second quarter 2024 earnings released: EPS: NT$3.77 (vs NT$3.54 in 2Q 2023) Second quarter 2024 results: EPS: NT$3.77 (up from NT$3.54 in 2Q 2023). Revenue: NT$856.9m (up 14% from 2Q 2023). Net income: NT$99.0m (up 6.5% from 2Q 2023). Profit margin: 12% (in line with 2Q 2023). Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has only increased by 26% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 19
First quarter 2024 earnings released: EPS: NT$3.90 (vs NT$4.00 in 1Q 2023) First quarter 2024 results: EPS: NT$3.90 (down from NT$4.00 in 1Q 2023). Revenue: NT$859.6m (up 15% from 1Q 2023). Net income: NT$102.5m (down 2.5% from 1Q 2023). Profit margin: 12% (down from 14% in 1Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 32% per year whereas the company’s share price has increased by 27% per year. Reported Earnings • Mar 29
Full year 2023 earnings released: EPS: NT$14.78 (vs NT$10.36 in FY 2022) Full year 2023 results: EPS: NT$14.78 (up from NT$10.36 in FY 2022). Revenue: NT$3.10b (up 28% from FY 2022). Net income: NT$388.3m (up 45% from FY 2022). Profit margin: 13% (up from 11% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Mar 21
Upcoming dividend of NT$13.30 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 26 April 2024. Payout ratio is a comfortable 63% and this is well supported by cash flows. Trailing yield: 5.0%. Within top quartile of Taiwanese dividend payers (4.7%). Higher than average of industry peers (3.5%). Duyuru • Mar 14
Tofu Restaurant Co., Ltd., Annual General Meeting, May 30, 2024 Tofu Restaurant Co., Ltd., Annual General Meeting, May 30, 2024. Reported Earnings • Aug 16
Second quarter 2023 earnings released: EPS: NT$3.54 (vs NT$0.59 in 2Q 2022) Second quarter 2023 results: EPS: NT$3.54 (up from NT$0.59 in 2Q 2022). Revenue: NT$749.4m (up 60% from 2Q 2022). Net income: NT$93.0m (up NT$77.7m from 2Q 2022). Profit margin: 12% (up from 3.3% in 2Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 18% per year whereas the company’s share price has increased by 20% per year. Reported Earnings • May 17
First quarter 2023 earnings released: EPS: NT$4.00 (vs NT$2.40 in 1Q 2022) First quarter 2023 results: EPS: NT$4.00 (up from NT$2.40 in 1Q 2022). Revenue: NT$748.6m (up 32% from 1Q 2022). Net income: NT$105.1m (up 70% from 1Q 2022). Profit margin: 14% (up from 11% in 1Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 41% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Mar 31
Full year 2022 earnings released: EPS: NT$10.36 (vs NT$5.97 in FY 2021) Full year 2022 results: EPS: NT$10.36 (up from NT$5.97 in FY 2021). Revenue: NT$2.42b (up 35% from FY 2021). Net income: NT$267.4m (up 75% from FY 2021). Profit margin: 11% (up from 8.5% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has increased by 48% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Mar 23
Upcoming dividend of NT$10.00 per share at 3.7% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 26 April 2023. Payout ratio is a comfortable 42% and this is well supported by cash flows. Trailing yield: 3.7%. Lower than top quartile of Taiwanese dividend payers (6.0%). Higher than average of industry peers (2.4%). Reported Earnings • Nov 19
Third quarter 2022 earnings released: EPS: NT$3.25 (vs NT$0.027 in 3Q 2021) Third quarter 2022 results: EPS: NT$3.25 (up from NT$0.027 in 3Q 2021). Revenue: NT$685.8m (up 86% from 3Q 2021). Net income: NT$83.8m (up NT$83.2m from 3Q 2021). Profit margin: 12% (up from 0.2% in 3Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 24% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Aug 16
Second quarter 2022 earnings released: EPS: NT$0.66 (vs NT$0.28 in 2Q 2021) Second quarter 2022 results: EPS: NT$0.66 (up from NT$0.28 in 2Q 2021). Revenue: NT$467.1m (up 50% from 2Q 2021). Net income: NT$15.3m (up 140% from 2Q 2021). Profit margin: 3.3% (up from 2.0% 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 2% per year whereas the company’s share price has increased by 6% per year. Reported Earnings • May 17
First quarter 2022 earnings released: EPS: NT$2.69 (vs NT$2.64 in 1Q 2021) First quarter 2022 results: EPS: NT$2.69 (up from NT$2.64 in 1Q 2021). Revenue: NT$565.9m (up 12% from 1Q 2021). Net income: NT$61.9m (up 3.4% from 1Q 2021). Profit margin: 11% (in line with 1Q 2021). 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. Reported Earnings • Apr 01
Full year 2021 earnings released: EPS: NT$6.68 (vs NT$10.29 in FY 2020) Full year 2021 results: EPS: NT$6.68 (down from NT$10.29 in FY 2020). Revenue: NT$1.79b (flat on FY 2020). Net income: NT$153.1m (down 34% from FY 2020). Profit margin: 8.5% (down from 13% in FY 2020). 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 9% per year. Upcoming Dividend • Mar 18
Upcoming dividend of NT$4.50 per share Eligible shareholders must have bought the stock before 25 March 2022. Payment date: 18 April 2022. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 5.7%. Within top quartile of Taiwanese dividend payers (5.4%). Higher than average of industry peers (3.4%). Reported Earnings • Nov 16
Third quarter 2021 earnings released: EPS NT$0.03 (vs NT$3.71 in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$369.7m (down 29% from 3Q 2020). Net income: NT$690.0k (down 99% from 3Q 2020). Profit margin: 0.2% (down from 16% in 3Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has increased by 25% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Aug 15
Second quarter 2021 earnings released: EPS NT$0.28 (vs NT$2.39 in 2Q 2020) The company reported a poor second quarter result with weaker earnings, revenues and profit margins. Second quarter 2021 results: Revenue: NT$311.4m (down 21% from 2Q 2020). Net income: NT$6.37m (down 88% from 2Q 2020). Profit margin: 2.0% (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 increased by 20% per year whereas the company’s share price has increased by 19% per year. Valuation Update With 7 Day Price Move • Jul 07
Investor sentiment improved over the past week After last week's 17% share price gain to NT$162, the stock trades at a trailing P/E ratio of 14.3x. Average trailing P/E is 25x in the Hospitality industry in Taiwan. Total returns to shareholders of 1.3% over the past year. Reported Earnings • May 15
First quarter 2021 earnings released: EPS NT$2.64 (vs NT$1.65 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$507.6m (up 33% from 1Q 2020). Net income: NT$59.9m (up 63% from 1Q 2020). Profit margin: 12% (up from 9.6% in 1Q 2020). The increase in margin was driven by higher revenue. Reported Earnings • Mar 25
Full year 2020 earnings released: EPS NT$10.29 (vs NT$6.47 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$1.81b (up 29% from FY 2019). Net income: NT$230.9m (up 77% from FY 2019). Profit margin: 13% (up from 9.3% in FY 2019). The increase in margin was driven by higher revenue. Upcoming Dividend • Mar 18
First Dividend Is NT$9.00 Per Share Will be paid on the 19th of April to those who are registered shareholders by the 25th of March. This is the first dividend for Tofu Restaurant since going public. The average dividend yield among industry peers is 3.5%. Duyuru • Mar 11
Tofu Restaurant Co., Ltd., Annual General Meeting, May 25, 2021 Tofu Restaurant Co., Ltd., Annual General Meeting, May 25, 2021. Is New 90 Day High Low • Feb 26
New 90-day high: NT$186 The company is up 9.0% from its price of NT$171 on 27 November 2020. The Taiwanese market is up 18% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Hospitality industry, which is up 4.0% over the same period. Is New 90 Day High Low • Jan 27
New 90-day low: NT$161 The company is down 1.0% from its price of NT$162 on 30 October 2020. The Taiwanese market is up 21% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Hospitality industry, which is up 1.0% over the same period. Is New 90 Day High Low • Nov 24
New 90-day high: NT$175 The company is up 5.0% from its price of NT$166 on 26 August 2020. The Taiwanese market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Hospitality industry, which is up 9.0% over the same period. Reported Earnings • Nov 14
Third quarter 2020 earnings released: EPS NT$3.71 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: NT$521.2m (up 41% from 3Q 2019). Net income: NT$83.5m (up 110% from 3Q 2019). Profit margin: 16% (up from 11% in 3Q 2019). The increase in margin was driven by higher revenue. 