Upcoming Dividend • Jul 09
Upcoming dividend of NT$0.20 per share Eligible shareholders must have bought the stock before 16 July 2026. Payment date: 14 August 2026. The company is not currently making a profit and is not cash flow positive. Trailing yield: 2.2%. Lower than top quartile of Taiwanese dividend payers (4.9%). Lower than average of industry peers (5.7%). Reported Earnings • May 12
First quarter 2026 earnings released: EPS: NT$0.13 (vs NT$0.21 in 1Q 2025) First quarter 2026 results: EPS: NT$0.13 (down from NT$0.21 in 1Q 2025). Revenue: NT$324.4m (down 4.0% from 1Q 2025). Net income: NT$45.7m (down 40% from 1Q 2025). Profit margin: 14% (down from 23% in 1Q 2025). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. New Risk • Apr 28
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: NT$3.15b (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: Major Risk Dividend is not well covered by earnings and cash flows. Dividend per share is over 11x earnings per share. Paying a dividend despite having no free cash flows. Minor Risks Profit margins are more than 30% lower than last year (0.5% net profit margin). Market cap is less than US$100m (NT$3.15b market cap, or US$99.9m). Reported Earnings • Mar 11
Full year 2025 earnings released: EPS: NT$0.02 (vs NT$2.04 in FY 2024) Full year 2025 results: EPS: NT$0.02 (down from NT$2.04 in FY 2024). Revenue: NT$1.14b (down 21% from FY 2024). Net income: NT$6.20m (down 99% from FY 2024). Profit margin: 0.5% (down from 51% in FY 2024). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. New Risk • Mar 09
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: NT$3.19b (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: Major Risk Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Minor Risk Market cap is less than US$100m (NT$3.19b market cap, or US$99.8m). Reported Earnings • Nov 11
Third quarter 2025 earnings released: EPS: NT$0.07 (vs NT$2.56 in 3Q 2024) Third quarter 2025 results: EPS: NT$0.07 (down from NT$2.56 in 3Q 2024). Revenue: NT$385.2m (up 13% from 3Q 2024). Net income: NT$24.9m (down 97% from 3Q 2024). Profit margin: 6.5% (down from 271% in 3Q 2024). Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 13
Second quarter 2025 earnings released: NT$0.23 loss per share (vs NT$0.057 loss in 2Q 2024) Second quarter 2025 results: NT$0.23 loss per share (further deteriorated from NT$0.057 loss in 2Q 2024). Revenue: NT$197.1m (down 42% from 2Q 2024). Net loss: NT$83.7m (loss widened 306% from 2Q 2024). Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Upcoming Dividend • Jun 12
Upcoming dividend of NT$0.40 per share Eligible shareholders must have bought the stock before 19 June 2025. Payment date: 10 July 2025. Payout ratio is a comfortable 16% but the company is not cash flow positive. Trailing yield: 3.8%. Lower than top quartile of Taiwanese dividend payers (5.2%). In line with average of industry peers (3.8%). Duyuru • Jun 11
Pacific Construction Co., Ltd Approves the Election of Director Representative, Liu Ming-Heng Pacific Construction Co. Ltd. approved the election of Director: Living Spring International Development Co. Ltd. Representative: Liu Ming-Heng, at its AGM held on June 10, 2025. Reported Earnings • May 14
First quarter 2025 earnings released: EPS: NT$0.21 (vs NT$0.17 loss in 1Q 2024) First quarter 2025 results: EPS: NT$0.21 (up from NT$0.17 loss in 1Q 2024). Revenue: NT$337.8m (down 40% from 1Q 2024). Net income: NT$76.3m (up NT$139.6m from 1Q 2024). Profit margin: 23% (up from net loss in 1Q 2024). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Duyuru • May 01
Pacific Construction Co., Ltd to Report Q1, 2025 Results on May 12, 2025 Pacific Construction Co., Ltd announced that they will report Q1, 2025 results on May 12, 2025 New Risk • Mar 30
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. Cash payout ratio: 151% Dividend yield: 3.7% 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. This is currently the only risk that has been identified for the company. Reported Earnings • Mar 18
Full year 2024 earnings released: EPS: NT$2.04 (vs NT$0.12 in FY 2023) Full year 2024 results: EPS: NT$2.04 (up from NT$0.12 in FY 2023). Revenue: NT$1.44b (down 3.0% from FY 2023). Net income: NT$738.3m (up NT$694.8m from FY 2023). Profit margin: 51% (up from 2.9% in FY 2023). 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 and the company’s share price has also increased by 7% per year. Declared Dividend • Mar 13
Dividend of NT$0.40 announced Shareholders will receive a dividend of NT$0.40. Ex-date: 19th June 2025 Payment date: 10th July 2025 Dividend yield will be 3.5%, which is lower than the industry average of 3.7%. Duyuru • Mar 04
Pacific Construction Co., Ltd to Report Fiscal Year 2024 Results on Mar 11, 2025 Pacific Construction Co., Ltd announced that they will report fiscal year 2024 results on Mar 11, 2025 Reported Earnings • Nov 18
Third quarter 2024 earnings released: EPS: NT$2.56 (vs NT$0.19 in 3Q 2023) Third quarter 2024 results: EPS: NT$2.56 (up from NT$0.19 in 3Q 2023). Revenue: NT$342.0m (up 30% from 3Q 2023). Net income: NT$925.3m (up NT$855.7m from 3Q 2023). 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 7% per year, which means it is well ahead of earnings. Duyuru • Oct 30
Pacific Construction Co., Ltd to Report Q3, 2024 Results on Nov 07, 2024 Pacific Construction Co., Ltd announced that they will report Q3, 2024 results on Nov 07, 2024 Reported Earnings • Aug 13
Second quarter 2024 earnings released: NT$0.06 loss per share (vs NT$0.24 loss in 2Q 2023) Second quarter 2024 results: NT$0.06 loss per share (improved from NT$0.24 loss in 2Q 2023). Revenue: NT$339.6m (up 73% from 2Q 2023). Net loss: NT$20.6m (loss narrowed 76% from 2Q 2023). Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Duyuru • Jul 30
Pacific Construction Co., Ltd to Report Q2, 2024 Results on Aug 06, 2024 Pacific Construction Co., Ltd announced that they will report Q2, 2024 results at 9:00 AM, Taipei Standard Time on Aug 06, 2024 Upcoming Dividend • Jun 07
Upcoming dividend of NT$0.20 per share Eligible shareholders must have bought the stock before 14 June 2024. Payment date: 12 July 2024. The company is not currently making a profit but it is cash flow positive. Trailing yield: 2.3%. Lower than top quartile of Taiwanese dividend payers (4.3%). Lower than average of industry peers (2.7%). Reported Earnings • May 12
First quarter 2024 earnings released: NT$0.17 loss per share (vs NT$0.13 profit in 1Q 2023) First quarter 2024 results: NT$0.17 loss per share (down from NT$0.13 profit in 1Q 2023). Revenue: NT$562.2m (up 96% from 1Q 2023). Net loss: NT$63.2m (down 230% from profit in 1Q 2023). 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 5% per year, which means it is well ahead of earnings. Duyuru • May 01
Pacific Construction Co., Ltd to Report Q1, 2024 Results on May 07, 2024 Pacific Construction Co., Ltd announced that they will report Q1, 2024 results at 9:00 AM, Taipei Standard Time on May 07, 2024 Duyuru • Apr 24
Pacific Construction Co., Ltd announced that it expects to receive HKD 5 million in funding Pacific Construction Co., Ltd announced a private placement to issue common shares for the gross proceeds of HKD 5,000,000 on April 22, 2024. The transaction has been approved by the shareholders of the company. New Risk • Apr 18
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: Minor Risks Dividend is not well covered by earnings (249% payout ratio). Share price has been volatile over the past 3 months (6.5% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (2.9% net profit margin). Reported Earnings • Mar 18
Full year 2023 earnings released: EPS: NT$0.12 (vs NT$1.59 in FY 2022) Full year 2023 results: EPS: NT$0.12 (down from NT$1.59 in FY 2022). Revenue: NT$1.49b (up 73% from FY 2022). Net income: NT$43.5m (down 92% from FY 2022). Profit margin: 2.9% (down from 67% in FY 2022). 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 2% per year, which means it is significantly lagging earnings. Duyuru • Mar 06
Pacific Construction Co., Ltd, Annual General Meeting, May 30, 2024 Pacific Construction Co., Ltd, Annual General Meeting, May 30, 2024. Location: Basement Floor, No. 495 Guangfu South Road, Xinyi District Taipei City Taiwan Agenda: To consider and approve the 2023 Business Report; to consider and approve the 2023 Supervisors Review Report; to consider and approve the 2023 Report of the Compensation for directors, supervisors and employees; and to consider and approve other matters of business. Upcoming Dividend • Nov 16
Upcoming dividend of NT$0.10 per share at 3.3% yield Eligible shareholders must have bought the stock before 23 November 2023. Payment date: 20 December 2023. The company is not currently making a profit and is not cash flow positive. Trailing yield: 3.3%. Lower than top quartile of Taiwanese dividend payers (5.4%). Lower than average of industry peers (3.9%). Reported Earnings • Aug 10
Second quarter 2023 earnings released: NT$0.24 loss per share (vs NT$2.19 profit in 2Q 2022) Second quarter 2023 results: NT$0.24 loss per share (down from NT$2.19 profit in 2Q 2022). Revenue: NT$196.5m (down 14% from 2Q 2022). Net loss: NT$87.3m (down 111% from profit in 2Q 2022). Over the last 3 years on average, earnings per share has increased by 64% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Duyuru • Aug 09
Pacific Construction Co., Ltd Announces Cash Dividend for the First Half of 2023, Payable on December 20, 2023 Pacific Construction Co. Ltd. announced cash dividend of TWD 38,700,000 or TWD 0.1 cash dividend per share for the first half of 2023. Ex-rights (ex-dividend) trading date is November 23, 2023. Ex-rights (ex-dividend) record date is December 1, 2023. Payment date of cash dividend distribution is December 20, 2023. Upcoming Dividend • Jun 22
Upcoming dividend of NT$0.20 per share at 4.2% yield Eligible shareholders must have bought the stock before 29 June 2023. Payment date: 28 July 2023. Payout ratio is a comfortable 16% but the company is not cash flow positive. Trailing yield: 4.2%. Lower than top quartile of Taiwanese dividend payers (5.5%). Lower than average of industry peers (5.2%). Reported Earnings • Mar 19
Full year 2022 earnings released: EPS: NT$1.59 (vs NT$0.13 in FY 2021) Full year 2022 results: EPS: NT$1.59 (up from NT$0.13 in FY 2021). Revenue: NT$857.5m (down 49% from FY 2021). Net income: NT$575.7m (up NT$530.1m from FY 2021). Profit margin: 67% (up from 2.7% 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 105% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Reported Earnings • Nov 20
Third quarter 2022 earnings released: EPS: NT$0.02 (vs NT$0.005 loss in 3Q 2021) Third quarter 2022 results: EPS: NT$0.02 (up from NT$0.005 loss in 3Q 2021). Revenue: NT$226.6m (up 25% from 3Q 2021). Net income: NT$7.18m (up NT$8.88m from 3Q 2021). Profit margin: 3.2% (up from net loss in 3Q 2021). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 82% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. 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. 9 experienced directors. No highly experienced directors. 3 independent directors (6 non-independent directors). Independent Director Chin Jung Wu 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. Upcoming Dividend • Nov 10
Upcoming dividend of NT$0.10 per share Eligible shareholders must have bought the stock before 17 November 2022. Payment date: 23 December 2022. Payout ratio is a comfortable 10% but the company is not cash flow positive. Trailing yield: 2.1%. Lower than top quartile of Taiwanese dividend payers (7.1%). Lower than average of industry peers (6.5%). Reported Earnings • Aug 15
Second quarter 2022 earnings released: EPS: NT$2.19 (vs NT$0.14 loss in 2Q 2021) Second quarter 2022 results: EPS: NT$2.19 (up from NT$0.14 loss in 2Q 2021). Revenue: NT$228.4m (up 4.6% from 2Q 2021). Net income: NT$792.7m (up NT$844.2m from 2Q 2021). Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 6 non-independent directors. Independent Director Chin Jung Wu was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Mar 12
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: NT$0.13 (up from NT$0.15 loss in FY 2020). Revenue: NT$1.67b (down 43% from FY 2020). Net income: NT$45.6m (up NT$100.3m from FY 2020). Profit margin: 2.7% (up from net loss in FY 2020). The move to profitability was driven by lower expenses. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 20% 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. Reported Earnings • Nov 10
Third quarter 2021 earnings released: NT$0.005 loss per share (vs NT$0.18 loss in 3Q 2020) The company reported a decent third quarter result with reduced losses and improved control over expenses, although revenues were weaker. Third quarter 2021 results: Revenue: NT$180.9m (down 33% from 3Q 2020). Net loss: NT$1.70m (loss narrowed 97% from 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 3% per year whereas the company’s share price has fallen by 5% per year. Reported Earnings • Aug 12
Second quarter 2021 earnings released: NT$0.14 loss per share (vs NT$0.029 loss in 2Q 2020) The company reported a soft second quarter result with increased losses and weaker control over costs, although revenues improved. Second quarter 2021 results: Revenue: NT$218.5m (up 3.8% from 2Q 2020). Net loss: NT$51.5m (loss widened 386% from 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 3% per year whereas the company’s share price has fallen by 6% per year. Reported Earnings • Mar 26
Full year 2020 earnings released: NT$0.15 loss per share (vs NT$0.25 loss in FY 2019) The company reported a solid full year result with reduced losses, improved revenues and improved control over expenses. Full year 2020 results: Revenue: NT$2.95b (up 254% from FY 2019). Net loss: NT$54.7m (loss narrowed 40% from FY 2019). Over the last 3 years on average, earnings per share has fallen by 22% 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. Is New 90 Day High Low • Jan 29
New 90-day low: NT$9.17 The company is down 3.0% from its price of NT$9.47 on 30 October 2020. The Taiwanese market is up 22% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Real Estate industry, which is up 1.0% over the same period. Is New 90 Day High Low • Jan 12
New 90-day low: NT$9.40 The company is down 3.0% from its price of NT$9.68 on 14 October 2020. The Taiwanese market is up 19% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Real Estate industry, which is up 5.0% over the same period. Reported Earnings • Nov 12
Third quarter 2020 earnings released: NT$0.18 loss per share The company reported a soft third quarter result with weaker earnings and control over expenses, although revenues were improved. Third quarter 2020 results: Revenue: NT$269.2m (up 11% from 3Q 2019). Net loss: NT$66.1m (down 257% from profit in 3Q 2019). Over the last 3 years on average, earnings per share has fallen by 10% 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. Is New 90 Day High Low • Nov 11
New 90-day high: NT$9.78 The company is up 3.0% from its price of NT$9.46 on 13 August 2020. The Taiwanese market is also up 3.0% over the last 90 days, indicating the company’s price trend is similar to the market over that time. However, it underperformed the Real Estate industry, which is up 4.0% over the same period. 
