Buy Or Sell Opportunity • Apr 20
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 3.6% to NT$13.20. The fair value is estimated to be NT$16.53, 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 declined by 34%. Duyuru • Mar 09
Sunfar Computer Co., Ltd, Annual General Meeting, May 29, 2026 Sunfar Computer Co., Ltd, Annual General Meeting, May 29, 2026, at 10:00 Taipei Standard Time. Location: 7 floor no,2, chien kuo 2nd rd., sanmin district, kaohsiung city Taiwan Reported Earnings • Mar 09
Full year 2025 earnings released: EPS: NT$0.51 (vs NT$0.50 in FY 2024) Full year 2025 results: EPS: NT$0.51 (up from NT$0.50 in FY 2024). Revenue: NT$3.93b (up 5.9% from FY 2024). Net income: NT$41.1m (up 2.5% from FY 2024). Profit margin: 1.0% (in line with FY 2024). Over the last 3 years on average, earnings per share has fallen by 34% 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. Reported Earnings • Nov 13
Third quarter 2025 earnings released: EPS: NT$0.07 (vs NT$0.24 in 3Q 2024) Third quarter 2025 results: EPS: NT$0.07 (down from NT$0.24 in 3Q 2024). Revenue: NT$1.03b (flat on 3Q 2024). Net income: NT$6.01m (down 68% from 3Q 2024). Profit margin: 0.6% (down from 1.8% in 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 40% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. Buy Or Sell Opportunity • Sep 08
Now 20% overvalued Over the last 90 days, the stock has fallen 5.3% to NT$14.25. The fair value is estimated to be NT$11.86, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 8.9% over the last 3 years. Earnings per share has declined by 41%. Reported Earnings • Aug 17
Second quarter 2025 earnings released: NT$0.04 loss per share (vs NT$0.015 loss in 2Q 2024) Second quarter 2025 results: NT$0.04 loss per share (further deteriorated from NT$0.015 loss in 2Q 2024). Revenue: NT$949.5m (up 11% from 2Q 2024). Net loss: NT$3.70m (loss widened 207% from 2Q 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 6% per year, which means it has not declined as severely as earnings. Declared Dividend • Jun 01
Dividend reduced to NT$0.60 Dividend of NT$0.60 is 17% lower than last year. Ex-date: 17th June 2025 Payment date: 17th July 2025 Dividend yield will be 4.0%, which is higher than the industry average of 1.2%. Sustainability & Growth Dividend is not covered by earnings (129% earnings payout ratio). However, it is well covered by cash flows (34% 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 grow by 43% to bring the payout ratio under control, which is more than the 5.3% EPS growth achieved over the last 5 years. Duyuru • May 30
Sunfar Computer Co., Ltd Approves Cash Dividend, Payable on July 17, 2025 Sunfar Computer Co. Ltd. at its meeting held on May 29, 2025 authorised cash dividend of TWD 0.60 per share, a total distribution of TWD 48,048,000, payable on July 17, 2025. Ex-rights (Ex-dividend) date: June 17, 2025,Ex-rights (Ex-dividend) record date: June 23, 2025. Reported Earnings • May 14
First quarter 2025 earnings released: EPS: NT$0.16 (vs NT$0.20 in 1Q 2024) First quarter 2025 results: EPS: NT$0.16 (down from NT$0.20 in 1Q 2024). Revenue: NT$990.6m (up 6.6% from 1Q 2024). Net income: NT$13.1m (down 18% from 1Q 2024). Profit margin: 1.3% (down from 1.7% in 1Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 46% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. 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$13.00, the stock trades at a trailing P/E ratio of 25.9x. Average trailing P/E is 19x in the Specialty Retail industry in Taiwan. Total loss to shareholders of 13% over the past three years. Reported Earnings • Mar 20
Full year 2024 earnings released: EPS: NT$0.50 (vs NT$0.73 in FY 2023) Full year 2024 results: EPS: NT$0.50 (down from NT$0.73 in FY 2023). Revenue: NT$3.71b (flat on FY 2023). Net income: NT$40.1m (down 31% from FY 2023). Profit margin: 1.1% (down from 1.6% in FY 2023). Over the last 3 years on average, earnings per share has fallen by 45% 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. Duyuru • Mar 14
Sunfar Computer Co., Ltd, Annual General Meeting, May 29, 2025 Sunfar Computer Co., Ltd, Annual General Meeting, May 29, 2025, at 10:00 Taipei Standard Time. Location: 7 floor no,2, chien kuo 2nd rd., sanmin district, kaohsiung city Taiwan Duyuru • Mar 05
Sunfar Computer Co., Ltd to Report Fiscal Year 2024 Results on Mar 12, 2025 Sunfar Computer Co., Ltd announced that they will report fiscal year 2024 results on Mar 12, 2025 Duyuru • Feb 15
Sunfar Computer Co., Ltd Announces the Retirement of Lin Jieyuan as Director of Information Management Department, Effective February 18, 2025 Sunfar Computer Co. Ltd. announcement of change of Information Security Director, Effective February 18, 2025. Name, title, and resume of the previous position holder: Mr. Lin Jieyuan, Director of Information Management department. Name, title, and resume of the new position holder: The new appointment will be announced after approval by the Board of Directors. Type of change: Retirement. Reason for the change: Retirement. Reported Earnings • Nov 18
Third quarter 2024 earnings released: EPS: NT$0.24 (vs NT$0.22 in 3Q 2023) Third quarter 2024 results: EPS: NT$0.24 (up from NT$0.22 in 3Q 2023). Revenue: NT$1.04b (up 2.2% from 3Q 2023). Net income: NT$19.0m (up 7.9% from 3Q 2023). Profit margin: 1.8% (in line with 3Q 2023). 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 4% per year, which means it has not declined as severely as earnings. Duyuru • Nov 05
Sunfar Computer Co., Ltd to Report Q3, 2024 Results on Nov 12, 2024 Sunfar Computer Co., Ltd announced that they will report Q3, 2024 results on Nov 12, 2024 Reported Earnings • Aug 16
Second quarter 2024 earnings released: NT$0.02 loss per share (vs NT$0.26 profit in 2Q 2023) Second quarter 2024 results: NT$0.02 loss per share (down from NT$0.26 profit in 2Q 2023). Revenue: NT$855.1m (down 5.9% from 2Q 2023). Net loss: NT$1.20m (down 106% from profit in 2Q 2023). 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 2% per year, which means it has not declined as severely as earnings. Duyuru • Aug 03
Sunfar Computer Co., Ltd to Report Q2, 2024 Results on Aug 12, 2024 Sunfar Computer Co., Ltd announced that they will report Q2, 2024 results on Aug 12, 2024 Upcoming Dividend • Jun 11
Upcoming dividend of NT$0.72 per share Eligible shareholders must have bought the stock before 18 June 2024. Payment date: 18 July 2024. Payout ratio is on the higher end at 90%, and the cash payout ratio is above 100%. Trailing yield: 4.2%. Within top quartile of Taiwanese dividend payers (4.2%). Higher than average of industry peers (3.3%). Reported Earnings • May 19
First quarter 2024 earnings released: EPS: NT$0.20 (vs NT$0.13 in 1Q 2023) First quarter 2024 results: EPS: NT$0.20 (up from NT$0.13 in 1Q 2023). Revenue: NT$929.0m (flat on 1Q 2023). Net income: NT$16.0m (up 59% from 1Q 2023). Profit margin: 1.7% (up from 1.1% in 1Q 2023). 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 9% per year, which means it is well ahead of earnings. Duyuru • May 01
Sunfar Computer Co., Ltd to Report Q1, 2024 Results on May 09, 2024 Sunfar Computer Co., Ltd announced that they will report Q1, 2024 results on May 09, 2024 New Risk • Mar 20
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 30% 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: Minor Risks Dividend is not well covered by earnings (99% payout ratio). Large one-off items impacting financial results. Market cap is less than US$100m (NT$1.38b market cap, or US$43.4m). Reported Earnings • Mar 17
Full year 2023 earnings released: EPS: NT$0.73 (vs NT$1.11 in FY 2022) Full year 2023 results: EPS: NT$0.73 (down from NT$1.11 in FY 2022). Revenue: NT$3.73b (down 15% from FY 2022). Net income: NT$58.4m (down 35% from FY 2022). Profit margin: 1.6% (down from 2.0% in FY 2022). The decrease in margin was driven by lower revenue. 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 9% per year, which means it is well ahead of earnings. Duyuru • Mar 14
Sunfar Computer Co., Ltd, Annual General Meeting, May 30, 2024 Sunfar Computer Co., Ltd, Annual General Meeting, May 30, 2024. Location: 5F., No. 50, Jianguo 2nd Rd., Sanmin Dist. Kaohsiung City Taiwan Agenda: To consider the report on the Operations of 2023; to consider the report on Audit Committee's review report of 2023; to consider the report on compensation for employees and remuneration for directors of 2023; to consider the report on the Donation of 2023; to approve 2023 Business Report and Financial Statements; to approve the Proposal for Distribution of 2023 profits; and to consider the other matters. Reported Earnings • Nov 16
Third quarter 2023 earnings released: EPS: NT$0.022 (vs NT$0.19 in 3Q 2022) Third quarter 2023 results: EPS: NT$0.022. Revenue: NT$1.02b (down 2.5% from 3Q 2022). Net income: NT$17.7m (up 19% from 3Q 2022). Profit margin: 1.7% (up from 1.4% in 3Q 2022). Upcoming Dividend • Aug 21
Upcoming dividend of NT$0.90 per share at 5.4% yield Eligible shareholders must have bought the stock before 28 August 2023. Payment date: 27 September 2023. The company is paying out more than 100% of its profits and is paying out 86% of its cash flow. Trailing yield: 5.4%. Lower than top quartile of Taiwanese dividend payers (5.6%). Higher than average of industry peers (1.1%). Reported Earnings • Aug 11
Second quarter 2023 earnings released: EPS: NT$0.26 (vs NT$0.47 in 2Q 2022) Second quarter 2023 results: EPS: NT$0.26 (down from NT$0.47 in 2Q 2022). Revenue: NT$908.5m (down 28% from 2Q 2022). Net income: NT$21.2m (down 43% from 2Q 2022). Profit margin: 2.3% (down from 2.9% in 2Q 2022). Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Reported Earnings • Mar 22
Full year 2022 earnings released: EPS: NT$1.11 (vs NT$1.76 in FY 2021) Full year 2022 results: EPS: NT$1.11 (down from NT$1.76 in FY 2021). Revenue: NT$4.38b (down 15% from FY 2021). Net income: NT$89.2m (down 37% from FY 2021). Profit margin: 2.0% (down from 2.7% in FY 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 16
Third quarter 2022 earnings released: EPS: NT$0.19 (vs NT$0.53 in 3Q 2021) Third quarter 2022 results: EPS: NT$0.19 (down from NT$0.53 in 3Q 2021). Revenue: NT$1.04b (down 26% from 3Q 2021). Net income: NT$14.9m (down 65% from 3Q 2021). Profit margin: 1.4% (down from 3.0% in 3Q 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 56% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. 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. 3 independent directors (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 13
Third quarter 2022 earnings released: EPS: NT$0.19 (vs NT$0.53 in 3Q 2021) Third quarter 2022 results: EPS: NT$0.19 (down from NT$0.53 in 3Q 2021). Revenue: NT$1.04b (down 26% from 3Q 2021). Net income: NT$14.9m (down 65% from 3Q 2021). Profit margin: 1.4% (down from 3.0% in 3Q 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 56% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Sep 07
Upcoming dividend of NT$1.20 per share Eligible shareholders must have bought the stock before 14 September 2022. Payment date: 13 October 2022. Payout ratio is a comfortable 74% and this is well supported by cash flows. Trailing yield: 6.8%. Within top quartile of Taiwanese dividend payers (6.6%). Higher than average of industry peers (3.8%). Reported Earnings • Aug 14
Second quarter 2022 earnings released: EPS: NT$0.47 (vs NT$0.73 in 2Q 2021) Second quarter 2022 results: EPS: NT$0.47 (down from NT$0.73 in 2Q 2021). Revenue: NT$1.27b (down 14% from 2Q 2021). Net income: NT$37.4m (down 36% from 2Q 2021). Profit margin: 2.9% (down from 4.0% in 2Q 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 61% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 16
First quarter 2022 earnings released: EPS: NT$0.29 (vs NT$0.16 in 1Q 2021) First quarter 2022 results: EPS: NT$0.29 (up from NT$0.16 in 1Q 2021). Revenue: NT$1.19b (up 15% from 1Q 2021). Net income: NT$22.9m (up 76% from 1Q 2021). Profit margin: 1.9% (up from 1.3% 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 59% per year but the company’s share price has only increased by 3% 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. 7 experienced directors. No highly experienced directors. 3 independent directors (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 • Mar 17
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: NT$1.76 (up from NT$0.56 in FY 2020). Revenue: NT$5.13b (up 25% from FY 2020). Net income: NT$140.9m (up 214% from FY 2020). Profit margin: 2.7% (up from 1.1% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 15
Third quarter 2021 earnings released: EPS NT$0.53 (vs NT$0.23 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$1.42b (up 25% from 3Q 2020). Net income: NT$42.3m (up 135% from 3Q 2020). Profit margin: 3.0% (up from 1.6% 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 23% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Sep 06
Upcoming dividend of NT$0.55 per share Eligible shareholders must have bought the stock before 13 September 2021. Payment date: 14 October 2021. Trailing yield: 2.8%. Lower than top quartile of Taiwanese dividend payers (5.2%). Lower than average of industry peers (3.3%). Valuation Update With 7 Day Price Move • Aug 30
Investor sentiment improved over the past week After last week's 16% share price gain to NT$20.75, the stock trades at a trailing P/E ratio of 16.8x. Average trailing P/E is 14x in the Specialty Retail industry in Taiwan. Total returns to shareholders of 40% over the past three years. Reported Earnings • Aug 15
Second quarter 2021 earnings released: EPS NT$0.73 (vs NT$0.037 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: NT$1.47b (up 52% from 2Q 2020). Net income: NT$58.6m (up NT$55.6m from 2Q 2020). Profit margin: 4.0% (up from 0.3% 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 4% per year whereas the company’s share price has increased by 1% per year. Valuation Update With 7 Day Price Move • Jul 26
Investor sentiment improved over the past week After last week's 20% share price gain to NT$22.65, the stock trades at a trailing P/E ratio of 42.2x. Average trailing P/E is 16x in the Specialty Retail industry in Taiwan. Total returns to shareholders of 53% over the past three years. Valuation Update With 7 Day Price Move • Jul 09
Investor sentiment improved over the past week After last week's 21% share price gain to NT$19.95, the stock trades at a trailing P/E ratio of 37.2x. Average trailing P/E is 17x in the Specialty Retail industry in Taiwan. Total returns to shareholders of 34% over the past three years. Valuation Update With 7 Day Price Move • Jun 11
Investor sentiment improved over the past week After last week's 23% share price gain to NT$16.15, the stock trades at a trailing P/E ratio of 30.4x. Average trailing P/E is 16x in the Specialty Retail industry in Taiwan. Total returns to shareholders of 6.0% over the past three years. Reported Earnings • May 15
First quarter 2021 earnings released: EPS NT$0.16 (vs NT$0.19 in 1Q 2020) The company reported a poor first quarter result with weaker earnings and profit margins, although revenues were flat. First quarter 2021 results: Revenue: NT$1.03b (flat on 1Q 2020). Net income: NT$13.0m (down 13% from 1Q 2020). Profit margin: 1.3% (down from 1.4% in 1Q 2020). Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has only fallen by 11% per year, which means it has not declined as severely as earnings. Reported Earnings • Mar 23
Full year 2020 earnings released: EPS NT$0.56 (vs NT$0.40 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$4.09b (up 6.1% from FY 2019). Net income: NT$44.9m (up 42% from FY 2019). Profit margin: 1.1% (up from 0.8% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Duyuru • Mar 18
Sunfar Computer Co., Ltd, Annual General Meeting, Jun 01, 2021 Sunfar Computer Co., Ltd, Annual General Meeting, Jun 01, 2021. Is New 90 Day High Low • Mar 13
New 90-day high: NT$13.10 The company is up 2.0% from its price of NT$12.90 on 11 December 2020. The Taiwanese market is up 14% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Specialty Retail industry, which is down 5.0% over the same period. Is New 90 Day High Low • Jan 29
New 90-day low: NT$12.60 The company is down 2.0% from its price of NT$12.80 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 Specialty Retail industry, which is down 1.0% over the same period. Reported Earnings • Nov 14
Third quarter 2020 earnings released: EPS NT$0.23 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: NT$1.14b (up 4.6% from 3Q 2019). Net income: NT$18.0m (up 76% from 3Q 2019). Profit margin: 1.6% (up from 0.9% in 3Q 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 42% 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. Is New 90 Day High Low • Sep 24
New 90-day low: NT$12.95 The company is down 4.0% from its price of NT$13.45 on 24 June 2020. The Taiwanese market is up 8.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Specialty Retail industry, which is down 6.0% over the same period.