Innolux Corporation (INNOLUX) financials

TAI · Technology · Hardware, Equipment & Parts · 44,813 employees · CEO Jin-Yang Hung

Price: NT$44.55 +4.70%
Market cap: NT$356B
Enterprise value: NT$335B
Last report: Q2 '26 filed 2026-06-30
Next report: 2026-11-02 EPS est. NT$0.10

Revenue (TTM)NT$245B+10.7% vs a year agoLast 4 quarters; bars = each quarter

Operating margin (TTM)0.4%+3.6 pp vs a year agoOperating income NT$989M

Net income (TTM)NT$6.21B-35.6% vs a year agoAfter tax, incl. non-operating gains

Free cash flow (TTM)NT$18.7B+461.9% vs a year agoCapex NT$10.2B

Diluted EPS (TTM)NT$0.78-30.6% vs a year agoSum of the last 4 quarters

Net cashNT$35.1B+1.8% vs a year agoCash + short-term investments - debt

Valuation & key figures

Market cap: NT$356B
Revenue: NT$245B
Revenue growth: +13%
Profit margin: 2.5%
P/E: 57.3×
P/S: 1.5×
EV / EBITDA: 9.8×
Free cash flow: NT$18.7B
Net income: NT$6.21B
Revenue estimate: NT$255B
Earnings: 2026-11-02
Dividend: NT$1.00

Key takeaways

Computed from the reported numbers - every statement carries the figure it rests on.

Last report (2026-08-14): revenue missed by 5.6%, EPS missed by 60.0%Revenue NT$63.9B vs NT$67.7B expected (-5.6%); EPS NT$0.57 vs NT$1.43 (-60.0%).
Revenue growth accelerating: 13.3% year on yearQ2 '26 revenue NT$63.7B, against an average of 7.0% over the four quarters before.
Operating margin 0.4% (TTM), +3.6 pp on a year agoOperating income grew 113.9% while revenue grew 10.7%.
71.6% of pre-tax profit is non-operatingPre-tax income NT$3.49B vs operating income NT$989M (TTM). Gains on equity stakes and other one-off items lift net income and EPS - operating income is the cleaner measure of the business.
Capex 4.2% of revenue (a year ago 6.6%)NT$10.2B invested in the last 4 quarters (-29.6% on a year earlier). Free cash flow NT$18.7B = 301.3% of net income.
Diluted share count up 5.0% in a year7.99B diluted shares in Q2 '26, 7.61B a year earlier.
Net cash NT$35.1BCash + short-term investments NT$99.2B, debt incl. leases NT$64.1B; a year ago net cash NT$34.5B.

Last quarter: Q2 '26

Quarter ended 2026-06-30. Compared with the same quarter a year earlier and with the analyst consensus before the report.

Quarter vs a year ago

	Q2 '26	Year ago	Change
Revenue	NT$63.7B	NT$56.2B	+13.3%
Gross margin	14.4%	8.4%	+6.0 pp
Operating income	NT$1.63B	-NT$778M	+309.9%
Operating margin	2.6%	-1.4%	+3.9 pp
Net income	NT$4.53B	-NT$761M	+695.8%
Diluted EPS	NT$0.57	-NT$0.10	+670.0%
Operating cash flow	NT$6.66B	NT$7.41B	-10.1%
Capex	NT$2.35B	NT$3.25B	-27.8%
Free cash flow	NT$4.32B	NT$4.16B	+3.8%
R&D	NT$2.94B	NT$3B	-2.2%
Stock-based compensation	NT$0	NT$0	–

Reported vs consensus

2026-08-14

	Actual	Consensus	vs consensus
Revenue	NT$63.9B	NT$67.7B	-5.6%
EPS (as estimated)	NT$0.57	NT$1.43	-60.0%

From the report of 2026-08-14 for Q2 '26: revenue and the EPS analysts estimate (often adjusted), so it can differ from the EPS of the statements above.

EPS vs consensus

last 8 reports

Revenue

Where the money comes from - by business line and by region, quarter by quarter.

Revenue, operating income and growth

quarterly

Margins & cost structure

How much of each unit of revenue is left at each level - and where the costs go.

Margins

quarterly

Costs as % of revenue

quarterly

Cash flow & capital allocation

Cash generated, what it is spent on, and what reaches shareholders.

Operating cash flow, capex, free cash flow

quarterly

Uses of cash vs operating cash flow

fiscal years

Last 4 quarters

cash flow statement

Operating cash flow: NT$29B
Capex: -NT$10.2B
Buybacks: NT$0
Dividends: NT$0
Acquisitions: -NT$25.7B
Net debt issued: NT$39.2B
Stock-based compensation: NT$0
Free cash flow: NT$18.7B
Returned to shareholders / FCF: -0.0%

Share count and EPS

quarterly, diluted

Balance sheet

Liquidity, investments and debt at each quarter end.

Cash, investments and debt

quarter ends

Valuation & returns

Today's multiples against the company's own last five fiscal years; analyst targets and ratings.

Multiples and returns

TTM vs 5 fiscal years

	Now	5y average	Where today sits in the 5-year range
P/E (TTM)	57.3×	197.1× 3 of 5 years	4.0× – 568.3×
EV / EBITDA	9.8×	6.5×	2.5× – 13.9×
EV / Sales	1.4×	0.6×	0.4× – 0.7×
Price / FCF	19.0×	34.0× 3 of 5 years	3.1× – 82.7×
Price / Book	1.6×	0.6×	0.5× – 0.8×
FCF yield	5.3%	2.7%	-18.1% – 31.8%
Return on invested capital	0.3%	-0.5%	-8.4% – 16.2%
Return on equity	2.8%	0.5%	-11.1% – 18.9%

Outlook

Analyst consensus for the coming fiscal years and what it implies at today's price.

Consensus estimates

Fiscal year	Revenue	Growth	EPS	Growth	P/E at today's price	Analysts (EPS)
FY2026	NT$255B	+12.6%	NT$1.27	+4,133.3%	35.1×	5
FY2027	NT$270B	+5.6%	NT$1.22	-3.8%	36.5×	5
FY2028	NT$272B	+0.9%	NT$0.70	-42.5%	63.4×	2

Financial statements

Every line of the income statement, balance sheet and cash flow statement - 12 quarters and 10 fiscal years, as values, as % of revenue or as growth.

Income statementRevenue, costs, operating income, net income and EPSOpen Balance sheetCash, investments, assets, debt, liabilities and equityOpen Cash flowOperating cash flow, capex, free cash flow, buybacks and dividendsOpen

Sources

Statements, segment revenue, metrics and estimates are standardised from the company's filings.

Data as of 2026-11-02