PerpEquities

Montage Technology Co., Ltd. (MONTAGE) financials

SHH · Technology · Semiconductors · 784 employees · CEO Chonghe Yang

Price
CN¥164.58 +3.97%
Market cap
CN¥188B
Enterprise value
CN¥173B
Last report
Q3 '26 filed 2026-09-30
Next report
2027-04-23 EPS est. CN¥0.95
Revenue (TTM)CN¥6.81B+32.9% vs a year agoLast 4 quarters; bars = each quarter
Operating margin (TTM)43.7%+3.4 pp vs a year agoOperating income CN¥2.98B
Net income (TTM)CN¥3.84B+85.9% vs a year agoAfter tax, incl. non-operating gains
Free cash flow (TTM)CN¥2.91B+68.0% vs a year agoCapex CN¥440M
Diluted EPS (TTM)CN¥3.22+77.9% vs a year agoSum of the last 4 quarters
Net cashCN¥18.7B+99.1% vs a year agoCash + short-term investments - debt

Valuation & key figures

Market cap
CN¥188B
EV CN¥173B
Revenue
CN¥6.81B
Trailing 12 months
Revenue growth
+43%
FY2026 consensus
Profit margin
56.4%
Net income / revenue, TTM
P/E
50.8×
Forward 48.8× (FY2026)
P/S
27.7×
Price / sales, TTM
EV / EBITDA
56.5×
TTM
Free cash flow
CN¥2.91B
Trailing 12 months
Net income
CN¥3.84B
Trailing 12 months
Revenue estimate
CN¥7.81B
FY2026 consensus
Earnings
2027-04-23
Revenue est. CN¥2.42B
Dividend
CN¥0.59
Per share, last 12 months

Key takeaways

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

  • Last report (2026-10-29): revenue in line, EPS beat by 12.6%Revenue CN¥2.06B vs CN¥2.06B expected (0.0%); EPS CN¥1.00 vs CN¥0.89 (+12.6%).
  • Revenue growth accelerating: 46.0% year on yearQ3 '26 revenue CN¥2.08B, against an average of 35.1% over the four quarters before.
  • Operating margin 43.7% (TTM), +3.4 pp on a year agoOperating income grew 44.1% while revenue grew 32.9%.
  • 25.6% of pre-tax profit is non-operatingPre-tax income CN¥4B vs operating income CN¥2.98B (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 6.5% of revenue (a year ago 5.9%)CN¥440M invested in the last 4 quarters (+44.8% on a year earlier). Free cash flow CN¥2.91B = 75.7% of net income.
  • Returned CN¥227M to shareholders = 7.8% of free cash flowBuybacks CN¥0 (a year earlier CN¥409M), dividends CN¥227M, stock-based pay -CN¥532M (TTM).
  • Diluted share count up 6.6% in a year1.23B diluted shares in Q3 '26, 1.15B a year earlier.
  • Net cash CN¥18.7BCash + short-term investments CN¥18.9B, debt incl. leases CN¥136M; a year ago net cash CN¥9.41B.

Last quarter: Q3 '26

Quarter ended 2026-09-30. Compared with the same quarter a year earlier and with the analyst consensus before the report.

Quarter vs a year ago

Q3 '26Year agoChange
RevenueCN¥2.08BCN¥1.42B+46.0%
Gross margin67.6%61.0%+6.6 pp
Operating incomeCN¥995MCN¥507M+96.4%
Operating margin47.9%35.6%+12.3 pp
Net incomeCN¥1.24BCN¥473M+162.0%
Diluted EPSCN¥1.01CN¥0.41+146.3%
Operating cash flowCN¥1.59BCN¥547M+191.3%
CapexCN¥147MCN¥116M+27.0%
Free cash flowCN¥1.44BCN¥431M+235.5%
R&DCN¥186MCN¥176M+5.7%
Stock-based compensationCN¥0CN¥440M-100.0%

Reported vs consensus

2026-10-29
ActualConsensusvs consensus
RevenueCN¥2.06BCN¥2.06B0.0%
EPS (as estimated)CN¥1.00CN¥0.89+12.6%

From the report of 2026-10-29 for Q3 '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
CN¥3.35B
Capex
-CN¥440M
Buybacks
CN¥0
Dividends
-CN¥227M
Acquisitions
CN¥280M
Net debt issued
CN¥51.4M
Stock-based compensation
-CN¥532M
Free cash flow
CN¥2.91B
Returned to shareholders / FCF
7.8%

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
Now5y averageWhere today sits in the 5-year range
P/E (TTM)50.8×85.5×54.3× – 144.0×
EV / EBITDA56.5×66.8×44.2× – 102.4×
EV / Sales25.4×24.2×17.7× – 35.2×
Price / FCF64.8×136.0×58.4× – 211.4×
Price / Book9.0×8.4×6.4× – 11.4×
FCF yield1.5%0.9%0.5% – 1.7%
Return on invested capital12.6%11.2%4.4% – 17.2%
Return on equity19.8%11.4%4.4% – 17.3%

Outlook

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

Consensus estimates

Fiscal yearRevenueGrowthEPSGrowthP/E at today's priceAnalysts (EPS)
FY2026CN¥7.81B+43.2%CN¥3.37+71.3%48.8×3
FY2027CN¥11.8B+51.7%CN¥4.92+45.9%33.4×8
FY2028CN¥16.8B+41.6%CN¥7.23+46.9%22.8×12
FY2029CN¥47.8B+185.1%CN¥20.50+183.6%8.0×9
FY2030CN¥69.6B+45.5%CN¥28.96+41.3%5.7×5

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 EPSOpenBalance sheetCash, investments, assets, debt, liabilities and equityOpenCash 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