Declared Dividend • Jun 13
Dividend of NT$8.00 announced Dividend of NT$8.00 is the same as last year. Ex-date: 14th July 2026 Payment date: 14th August 2026 Dividend yield will be 6.6%, which is higher than the industry average of 3.0%. Sustainability & Growth Dividend is covered by both earnings (76% earnings payout ratio) and cash flows (42% cash payout ratio). The dividend has increased by an average of 5.9% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 25% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. New Risk • May 05
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 9.6% 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 (9.6% average weekly change). Valuation Update With 7 Day Price Move • May 05
Investor sentiment improves as stock rises 29% After last week's 29% share price gain to NT$151, the stock trades at a trailing P/E ratio of 14.4x. Average trailing P/E is 45x in the Semiconductor industry in Taiwan. Total returns to shareholders of 220% over the past three years. Valuation Update With 7 Day Price Move • Apr 14
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to NT$111, the stock trades at a trailing P/E ratio of 11.5x. Average trailing P/E is 41x in the Semiconductor industry in Taiwan. Total returns to shareholders of 166% over the past three years. Buy Or Sell Opportunity • Apr 10
Now 20% undervalued Over the last 90 days, the stock has risen 17% to NT$95.30. The fair value is estimated to be NT$120, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 21%. Buy Or Sell Opportunity • Mar 23
Now 23% undervalued Over the last 90 days, the stock has risen 15% to NT$92.20. The fair value is estimated to be NT$119, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 21%. Duyuru • Mar 20
Epoch Chemtronics Corp., Annual General Meeting, Jun 11, 2026 Epoch Chemtronics Corp., Annual General Meeting, Jun 11, 2026. Location: 9 floor no,35, hsin t`ai rd., jhubei city, hsinchu county Taiwan New Risk • Mar 01
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). 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$3.10b market cap, or US$98.7m). Upcoming Dividend • Jul 08
Upcoming dividend of NT$8.00 per share Eligible shareholders must have bought the stock before 15 July 2025. Payment date: 15 August 2025. Payout ratio is on the higher end at 81%, however this is supported by cash flows. Trailing yield: 9.1%. Within top quartile of Taiwanese dividend payers (5.3%). Higher than average of industry peers (2.2%). Declared Dividend • Jun 23
Dividend increased to NT$8.00 Dividend of NT$8.00 is 45% higher than last year. Ex-date: 15th July 2025 Payment date: 15th August 2025 Dividend yield will be 9.2%, which is higher than the industry average of 3.0%. Sustainability & Growth Dividend is covered by both earnings (81% earnings payout ratio) and cash flows (68% cash payout ratio). The dividend has increased by an average of 8.6% 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. Reported Earnings • Apr 26
Full year 2024 earnings released: EPS: NT$9.89 (vs NT$7.04 in FY 2023) Full year 2024 results: EPS: NT$9.89 (up from NT$7.04 in FY 2023). Revenue: NT$5.97b (down 1.5% from FY 2023). Net income: NT$336.4m (up 41% from FY 2023). Profit margin: 5.6% (up from 4.0% 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 29% per year whereas the company’s share price has increased by 28% per year. Valuation Update With 7 Day Price Move • Apr 09
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to NT$79.50, the stock trades at a trailing P/E ratio of 9.5x. Average trailing P/E is 21x in the Semiconductor industry in Taiwan. Total returns to shareholders of 128% over the past three years. New Risk • Apr 07
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 7.0% 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 Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). 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 (7.0% average weekly change). Market cap is less than US$100m (NT$2.69b market cap, or US$81.4m). Duyuru • Mar 28
Epoch Chemtronics Corp., Annual General Meeting, Jun 17, 2025 Epoch Chemtronics Corp., Annual General Meeting, Jun 17, 2025. Location: 9 floor no,35, hsin t`ai rd., jhubei city, hsinchu county Taiwan New Risk • Feb 28
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Minor Risks Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). 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$2.87b market cap, or US$87.2m). Upcoming Dividend • Jul 04
Upcoming dividend of NT$5.50 per share Eligible shareholders must have bought the stock before 11 July 2024. Payment date: 15 August 2024. Payout ratio is on the higher end at 78%, however this is supported by cash flows. Trailing yield: 6.8%. Within top quartile of Taiwanese dividend payers (4.2%). Higher than average of industry peers (2.1%). Buy Or Sell Opportunity • Jul 01
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 1.5% to NT$80.30. The fair value is estimated to be NT$66.24, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 24% over the last 3 years. Earnings per share has grown by 28%. Buy Or Sell Opportunity • Jun 22
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 7.0% to NT$79.70. The fair value is estimated to be NT$66.27, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 24% over the last 3 years. Earnings per share has grown by 28%. Reported Earnings • Apr 25
Full year 2023 earnings released: EPS: NT$7.04 (vs NT$6.51 in FY 2022) Full year 2023 results: EPS: NT$7.04 (up from NT$6.51 in FY 2022). Revenue: NT$6.06b (up 40% from FY 2022). Net income: NT$239.4m (up 8.1% from FY 2022). Profit margin: 4.0% (down from 5.1% 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 28% per year but the company’s share price has only increased by 23% per year, which means it is significantly lagging earnings growth. Duyuru • Apr 03
Epoch Chemtronics Corp., Annual General Meeting, Jun 20, 2024 Epoch Chemtronics Corp., Annual General Meeting, Jun 20, 2024. New Risk • Mar 01
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 1.9% per year over the past 5 years. High level of non-cash earnings (31% accrual ratio). Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Dividend is not well covered by cash flows (287% cash payout ratio). Market cap is less than US$100m (NT$2.62b market cap, or US$82.7m). New Risk • Aug 17
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 29% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 1.9% per year over the past 5 years. High level of non-cash earnings (29% accrual ratio). Minor Risks Dividend is not well covered by cash flows (287% cash payout ratio). Market cap is less than US$100m (NT$2.43b market cap, or US$75.9m). New Risk • Aug 02
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 6.2% 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 Earnings have declined by 9.4% per year over the past 5 years. Minor Risks Dividend is not well covered by cash flows (146% cash payout ratio). Share price has been volatile over the past 3 months (6.2% average weekly change). Market cap is less than US$100m (NT$2.69b market cap, or US$84.8m). Valuation Update With 7 Day Price Move • Jul 10
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$74.80, the stock trades at a trailing P/E ratio of 11.5x. Average trailing P/E is 20x in the Semiconductor industry in Taiwan. Total returns to shareholders of 123% over the past three years. Upcoming Dividend • Jul 06
Upcoming dividend of NT$4.00 per share at 6.2% yield Eligible shareholders must have bought the stock before 13 July 2023. Payment date: 15 August 2023. Payout ratio is a comfortable 61% but the company is paying out more than the cash it is generating. Trailing yield: 6.2%. Within top quartile of Taiwanese dividend payers (5.4%). Higher than average of industry peers (3.2%). Valuation Update With 7 Day Price Move • May 10
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$62.70, the stock trades at a trailing P/E ratio of 12.8x. Average trailing P/E is 16x in the Semiconductor industry in Taiwan. Total returns to shareholders of 93% over the past three years. 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 (3 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. Upcoming Dividend • Jul 06
Upcoming dividend of NT$3.00 per share Eligible shareholders must have bought the stock before 13 July 2022. Payment date: 15 August 2022. Payout ratio is on the higher end at 94% but the company is not cash flow positive. Trailing yield: 7.7%. Within top quartile of Taiwanese dividend payers (6.6%). Higher than average of industry peers (4.0%). Reported Earnings • May 04
Full year 2021 earnings released: EPS: NT$3.18 (vs NT$3.50 in FY 2020) Full year 2021 results: EPS: NT$3.18 (down from NT$3.50 in FY 2020). Revenue: NT$3.80b (up 33% from FY 2020). Net income: NT$108.2m (down 9.0% from FY 2020). Profit margin: 2.9% (down from 4.2% in FY 2020). 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 only fallen by 2% per year, which means it has not declined as severely as earnings. 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. 2 independent directors (3 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. Duyuru • Mar 29
Epoch Chemtronics Corp., Annual General Meeting, Jun 16, 2022 Epoch Chemtronics Corp., Annual General Meeting, Jun 16, 2022. Valuation Update With 7 Day Price Move • Oct 27
Investor sentiment improved over the past week After last week's 19% share price gain to NT$45.90, the stock trades at a trailing P/E ratio of 11.4x. Average trailing P/E is 21x in the Semiconductor industry in Taiwan. Total returns to shareholders of 56% over the past three years. Upcoming Dividend • Aug 02
Upcoming dividend of NT$3.00 per share Eligible shareholders must have bought the stock before 09 August 2021. Payment date: 09 September 2021. Trailing yield: 7.2%. Within top quartile of Taiwanese dividend payers (5.0%). Higher than average of industry peers (2.2%). Reported Earnings • Apr 29
Full year 2020 earnings released: EPS NT$3.49 (vs NT$5.24 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$2.86b (down 28% from FY 2019). Net income: NT$118.9m (down 33% from FY 2019). Profit margin: 4.2% (down from 4.5% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 24% 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. Is New 90 Day High Low • Mar 04
New 90-day low: NT$39.15 The company is down 2.0% from its price of NT$40.05 on 04 December 2020. The Taiwanese market is up 15% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Semiconductor industry, which is up 24% over the same period. Is New 90 Day High Low • Jan 05
New 90-day high: NT$43.85 The company is up 27% from its price of NT$34.50 on 08 October 2020. The Taiwanese market is up 17% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Semiconductor industry, which is up 25% over the same period. Is New 90 Day High Low • Dec 08
New 90-day high: NT$40.25 The company is up 18% from its price of NT$34.10 on 09 September 2020. The Taiwanese market is up 12% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Semiconductor industry, which is up 22% over the same period. Is New 90 Day High Low • Nov 19
New 90-day high: NT$36.85 The company is up 8.0% from its price of NT$34.05 on 21 August 2020. The Taiwanese market is up 11% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Semiconductor industry, which is up 20% over the same period. 