Upcoming Dividend • Mar 19
Upcoming dividend of NT$6.50 per share Eligible shareholders must have bought the stock before 26 March 2026. Payment date: 30 April 2026. Payout ratio is a comfortable 74% and this is well supported by cash flows. Trailing yield: 5.9%. Within top quartile of Taiwanese dividend payers (5.2%). Higher than average of industry peers (4.0%). Reported Earnings • Mar 11
Full year 2025 earnings released: EPS: NT$8.57 (vs NT$8.44 in FY 2024) Full year 2025 results: EPS: NT$8.57 (up from NT$8.44 in FY 2024). Revenue: NT$3.41b (up 7.9% from FY 2024). Net income: NT$632.2m (up 2.1% from FY 2024). Profit margin: 19% (down from 20% 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 13% per year whereas the company’s share price has increased by 9% per year. Reported Earnings • Aug 13
Second quarter 2025 earnings released: EPS: NT$1.99 (vs NT$1.87 in 2Q 2024) Second quarter 2025 results: EPS: NT$1.99 (up from NT$1.87 in 2Q 2024). Revenue: NT$824.3m (up 10% from 2Q 2024). Net income: NT$146.0m (up 6.5% from 2Q 2024). Profit margin: 18% (in line with 2Q 2024). Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has increased by 22% per year, which means it is tracking significantly ahead of earnings growth. Buy Or Sell Opportunity • Jul 23
Now 20% undervalued The stock has been flat over the last 90 days, currently trading at NT$121. The fair value is estimated to be NT$151, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 17%. Buy Or Sell Opportunity • Jun 13
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 5.4% to NT$123. The fair value is estimated to be NT$153, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 17%. Buy Or Sell Opportunity • May 28
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 9.4% to NT$120. The fair value is estimated to be NT$153, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 17%. Upcoming Dividend • May 21
Upcoming dividend of NT$6.50 per share Eligible shareholders must have bought the stock before 28 May 2025. Payment date: 20 June 2025. Payout ratio and cash payout ratio are on the higher end at 82% and 81% respectively. Trailing yield: 4.7%. Lower than top quartile of Taiwanese dividend payers (5.2%). Higher than average of industry peers (3.7%). Reported Earnings • May 08
First quarter 2025 earnings released: EPS: NT$1.93 (vs NT$1.71 in 1Q 2024) First quarter 2025 results: EPS: NT$1.93 (up from NT$1.71 in 1Q 2024). Revenue: NT$847.1m (up 20% from 1Q 2024). Net income: NT$141.7m (up 13% from 1Q 2024). Profit margin: 17% (down from 18% in 1Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has increased by 23% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • Apr 29
Dimerco Data System Corporation to Report Q1, 2025 Results on May 06, 2025 Dimerco Data System Corporation announced that they will report Q1, 2025 results on May 06, 2025 Reported Earnings • Mar 13
Full year 2024 earnings released: EPS: NT$8.44 (vs NT$7.23 in FY 2023) Full year 2024 results: EPS: NT$8.44 (up from NT$7.23 in FY 2023). Revenue: NT$3.16b (up 14% from FY 2023). Net income: NT$619.2m (up 18% from FY 2023). Profit margin: 20% (in line with FY 2023). Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has increased by 24% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • Mar 05
Dimerco Data System Corporation, Annual General Meeting, May 27, 2025 Dimerco Data System Corporation, Annual General Meeting, May 27, 2025, at 09:00 Taipei Standard Time. Location: 3 floor no,151, hsing ai rd., taipei city Taiwan Reported Earnings • Nov 17
Third quarter 2024 earnings released: EPS: NT$1.89 (vs NT$2.31 in 3Q 2023) Third quarter 2024 results: EPS: NT$1.89 (down from NT$2.31 in 3Q 2023). Revenue: NT$712.4m (down 1.9% from 3Q 2023). Net income: NT$138.9m (down 17% from 3Q 2023). Profit margin: 20% (down from 23% in 3Q 2023). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 16% per year whereas the company’s share price has increased by 19% per year. New Risk • Aug 14
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 27% 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 Risk High level of non-cash earnings (27% accrual ratio). Minor Risks Dividend is not well covered by cash flows (174% cash payout ratio). Shareholders have been diluted in the past year (2.7% increase in shares outstanding). Duyuru • Jun 01
Dimerco Data System Corporation Announces Cash Dividends, Payable on July 12, 2024 Dimerco Data System Corporation announced cash dividends of TWD 5.50072108 per share, totaling TWD 419,570,223. cash dividend from the capital reserve of TWD 0.50006556 per share, totaling TWD 38,142,748. Ex-rights (Ex-dividend) date: June 17, 2024. Ex-rights (Ex-dividend) record date: June 23, 2024. Payment date of cash dividend distribution: July 12, 2024. Declared Dividend • Jun 01
Dividend increased to NT$6.00 Dividend of NT$6.00 is 20% higher than last year. Ex-date: 17th June 2024 Payment date: 12th July 2024 Dividend yield will be 4.9%, which is higher than the industry average of 3.6%. Sustainability & Growth Dividend is covered by earnings (74% earnings payout ratio) but not covered by cash flows (102% cash payout ratio). The dividend has increased by an average of 10% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 22% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • May 12
First quarter 2024 earnings released: EPS: NT$1.71 (vs NT$1.71 in 1Q 2023) First quarter 2024 results: EPS: NT$1.71 (in line with 1Q 2023). Revenue: NT$704.6m (up 13% from 1Q 2023). Net income: NT$125.5m (up 1.3% from 1Q 2023). Profit margin: 18% (down from 20% 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 19% per year but the company’s share price has increased by 29% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • Apr 14
Dimerco Data System Corporation Approves to Establish the Sustainable Development Committee Dimerco Data System Corporation announced the Board of Directors' approval to establish the Sustainable Development Committee: Name of the new position holder: RUAN,YAO-ZHANG, DOU,JUN-RU, Chuang,Ju-Ying. Effective date of the new member is March 7, 2024. Duyuru • Mar 14
Dimerco Data System Corporation, Annual General Meeting, May 30, 2024 Dimerco Data System Corporation, Annual General Meeting, May 30, 2024. Reported Earnings • Mar 14
Full year 2023 earnings released: EPS: NT$7.23 (vs NT$5.93 in FY 2022) Full year 2023 results: EPS: NT$7.23 (up from NT$5.93 in FY 2022). Revenue: NT$2.77b (up 11% from FY 2022). Net income: NT$525.0m (up 22% from FY 2022). Profit margin: 19% (up from 17% 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 19% per year but the company’s share price has increased by 32% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Jan 19
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.6% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. 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. Shareholders have been diluted in the past year (2.6% increase in shares outstanding). Reported Earnings • Aug 11
Second quarter 2023 earnings released: EPS: NT$2.21 (vs NT$1.03 in 2Q 2022) Second quarter 2023 results: EPS: NT$2.21 (up from NT$1.03 in 2Q 2022). Revenue: NT$665.2m (up 2.6% from 2Q 2022). Net income: NT$159.9m (up 115% from 2Q 2022). Profit margin: 24% (up from 12% in 2Q 2022). The increase in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has increased by 33% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Jun 09
Upcoming dividend of NT$5.00 per share at 4.9% yield Eligible shareholders must have bought the stock before 16 June 2023. Payment date: 14 July 2023. Payout ratio is on the higher end at 79%, however this is supported by cash flows. Trailing yield: 4.9%. Lower than top quartile of Taiwanese dividend payers (5.5%). Higher than average of industry peers (3.9%). Valuation Update With 7 Day Price Move • Apr 19
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$104, the stock trades at a trailing P/E ratio of 18x. Average trailing P/E is 20x in the IT industry in Taiwan. Total returns to shareholders of 225% over the past three years. Reported Earnings • Mar 21
Full year 2022 earnings released: EPS: NT$5.53 (vs NT$5.60 in FY 2021) Full year 2022 results: EPS: NT$5.53. Revenue: NT$2.48b (down 39% from FY 2021). Net income: NT$429.3m (up 6.1% from FY 2021). Profit margin: 17% (up from 9.9% in FY 2021). The increase in margin was driven by lower expenses. Reported Earnings • Nov 12
Third quarter 2022 earnings released: EPS: NT$1.68 (vs NT$1.96 in 3Q 2021) Third quarter 2022 results: EPS: NT$1.68 (down from NT$1.96 in 3Q 2021). Revenue: NT$629.9m (down 41% from 3Q 2021). Net income: NT$121.5m (down 14% from 3Q 2021). Profit margin: 19% (up from 13% 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 24% per year and the company’s share price has also increased by 24% per year. Upcoming Dividend • Sep 09
Upcoming dividend of NT$4.00 per share Eligible shareholders must have bought the stock before 16 September 2022. Payment date: 31 October 2022. Payout ratio is a comfortable 61% and this is well supported by cash flows. Trailing yield: 5.4%. Lower than top quartile of Taiwanese dividend payers (6.6%). In line with average of industry peers (5.1%). Reported Earnings • Aug 11
Second quarter 2022 earnings released: EPS: NT$1.08 (vs NT$1.06 in 2Q 2021) Second quarter 2022 results: EPS: NT$1.08 (up from NT$1.06 in 2Q 2021). Revenue: NT$648.4m (down 37% from 2Q 2021). Net income: NT$74.4m (up 2.0% from 2Q 2021). Profit margin: 12% (up from 7.0% 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 26% per year whereas the company’s share price has increased by 27% per year. Reported Earnings • May 08
First quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behind First quarter 2022 results: EPS: NT$1.40 (up from NT$0.94 in 1Q 2021). Revenue: NT$954.5m (up 10% from 1Q 2021). Net income: NT$96.5m (up 49% from 1Q 2021). Profit margin: 10% (up from 7.5% in 1Q 2021). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 7.9%. Earnings per share (EPS) exceeded analyst estimates by 32%. Over the last 3 years on average, earnings per share has increased by 27% per year whereas the company’s share price has increased by 28% per year. Duyuru • Mar 31
Dimerco Data System Corporation, Annual General Meeting, Jun 15, 2022 Dimerco Data System Corporation, Annual General Meeting, Jun 15, 2022. Reported Earnings • Mar 17
Full year 2021 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2021 results: EPS: NT$5.88 (up from NT$4.73 in FY 2020). Revenue: NT$4.07b (up 74% from FY 2020). Net income: NT$404.8m (up 24% from FY 2020). Profit margin: 9.9% (down from 14% in FY 2020). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 7.9%. Earnings per share (EPS) exceeded analyst estimates by 32%. Over the last 3 years on average, earnings per share has increased by 27% per year and the company’s share price has also increased by 27% per year. Reported Earnings • Nov 07
Third quarter 2021 earnings released: EPS NT$2.05 (vs NT$1.17 in 3Q 2020) The company reported a solid third quarter result with improved earnings and revenues, although profit margins were weaker. Third quarter 2021 results: Revenue: NT$1.06b (up 111% from 3Q 2020). Net income: NT$141.4m (up 76% from 3Q 2020). Profit margin: 13% (down from 16% 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 27% per year whereas the company’s share price has increased by 29% per year. Reported Earnings • Aug 15
Second quarter 2021 earnings released: EPS NT$1.17 (vs NT$0.94 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$1.04b (up 115% from 2Q 2020). Net income: NT$73.0m (up 13% from 2Q 2020). Profit margin: 7.0% (down from 14% 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 24% per year whereas the company’s share price has increased by 25% per year. 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: 10 September 2021. Trailing yield: 4.2%. Lower than top quartile of Taiwanese dividend payers (5.0%). Higher than average of industry peers (3.4%). Reported Earnings • May 14
First quarter 2021 earnings released: EPS NT$1.04 (vs NT$0.86 in 1Q 2020) The company reported a solid first quarter result with improved earnings and revenues, although profit margins were weaker. First quarter 2021 results: Revenue: NT$865.9m (up 126% from 1Q 2020). Net income: NT$65.0m (up 21% from 1Q 2020). Profit margin: 7.5% (down from 14% in 1Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 21% per year whereas the company’s share price has increased by 18% per year. Reported Earnings • Mar 31
Full year 2020 earnings released: EPS NT$5.20 (vs NT$3.96 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$2.34b (up 30% from FY 2019). Net income: NT$325.9m (up 31% from FY 2019). Profit margin: 14% (in line with FY 2019). Over the last 3 years on average, earnings per share has increased by 16% per year whereas the company’s share price has increased by 19% per year. Is New 90 Day High Low • Feb 26
New 90-day high: NT$59.60 The company is up 9.0% from its price of NT$54.60 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 IT industry, which is up 5.0% over the same period. Is New 90 Day High Low • Jan 11
New 90-day high: NT$58.80 The company is up 15% from its price of NT$51.00 on 14 October 2020. The Taiwanese market is up 19% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the IT industry, which is up 6.0% over the same period. Is New 90 Day High Low • Dec 24
New 90-day high: NT$55.60 The company is up 10.0% from its price of NT$50.60 on 25 September 2020. The Taiwanese market is up 15% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the IT industry, which is up 7.0% over the same period. Is New 90 Day High Low • Dec 05
New 90-day high: NT$55.30 The company is up 5.0% from its price of NT$52.90 on 04 September 2020. The Taiwanese market is up 11% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the IT industry, which is down 1.0% over the same period. Reported Earnings • Nov 18
Third quarter 2020 earnings released: EPS NT$1.28 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: NT$501.3m (up 8.7% from 3Q 2019). Net income: NT$80.4m (up 35% from 3Q 2019). Profit margin: 16% (up from 13% in 3Q 2019). The increase in margin was driven by higher revenue. 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 13% per year. Reported Earnings • Nov 10
Third quarter 2020 earnings released: EPS NT$1.28 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: NT$501.3m (up 8.7% from 3Q 2019). Net income: NT$80.4m (up 35% from 3Q 2019). Profit margin: 16% (up from 13% in 3Q 2019). The increase in margin was driven by higher revenue. 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 14% per year. Is New 90 Day High Low • Nov 09
New 90-day high: NT$54.10 The company is up 1.0% from its price of NT$53.40 on 11 August 2020. The Taiwanese market is also up 1.0% over the last 90 days, indicating the company’s price trend is similar to the market over that time. However, it underperformed the IT industry, which is up 2.0% over the same period. Is New 90 Day High Low • Sep 25
New 90-day low: NT$50.60 The company is down 16% from its price of NT$60.10 on 24 June 2020. The Taiwanese market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the IT industry, which is down 2.0% over the same period.