PerpEquities

Walsin Lihwa Corporation (WALSIN) financials

TAI · Basic Materials · Steel · 9,691 employees · CEO Shyi-Chin Wang

Price
NT$37.60 +4.59%
Market cap
NT$167B
Enterprise value
NT$239B
Last report
Q2 '26 filed 2026-06-30
Next report
2026-11-02 EPS est. NT$1.86
Revenue (TTM)NT$174B-4.4% vs a year agoLast 4 quarters; bars = each quarter
Operating margin (TTM)-0.1%-1.0 pp vs a year agoOperating income -NT$143M
Net income (TTM)NT$14.6B+1,450.0% vs a year agoAfter tax, incl. non-operating gains
Free cash flow (TTM)-NT$8.12B-84.1% vs a year agoCapex NT$9.07B
Diluted EPS (TTM)NT$3.31+1,279.2% vs a year agoSum of the last 4 quarters
Net cash-NT$71.8B-5.6% vs a year agoCash + short-term investments - debt

Valuation & key figures

Market cap
NT$167B
EV NT$239B
Revenue
NT$174B
Trailing 12 months
Revenue growth
+9%
FY2026 consensus
Profit margin
8.4%
Net income / revenue, TTM
P/E
11.4×
Forward 7.8× (FY2026)
P/S
1.0×
Price / sales, TTM
EV / EBITDA
30.8×
TTM
Free cash flow
-NT$8.12B
Trailing 12 months
Net income
NT$14.6B
Trailing 12 months
Revenue estimate
NT$190B
FY2026 consensus
Earnings
2026-11-02
Revenue est. NT$49.1B
Dividend
NT$0.50
Per share, last 12 months

Key takeaways

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

  • Last report (2026-08-11): revenue beat by 5.6%, EPS beat by 252.2%Revenue NT$49.8B vs NT$47.2B expected (+5.6%); EPS NT$2.05 vs NT$0.58 (+252.2%).
  • Revenue growth accelerating: 6.9% year on yearQ2 '26 revenue NT$49.6B, against an average of -7.2% over the four quarters before.
  • Operating margin -0.1% (TTM), -1.0 pp on a year agoOperating income grew -109.1% while revenue grew -4.4%.
  • 101.0% of pre-tax profit is non-operatingPre-tax income NT$13.7B vs operating income -NT$143M (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 5.2% of revenue (a year ago 6.5%)NT$9.07B invested in the last 4 quarters (-23.1% on a year earlier). Free cash flow -NT$8.12B = -55.6% of net income.
  • Diluted share count up 8.4% in a year4.41B diluted shares in Q2 '26, 4.07B a year earlier.
  • Net debt NT$71.8BCash + short-term investments NT$18B, debt incl. leases NT$89.9B; a year ago net debt NT$68B.

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 '26Year agoChange
RevenueNT$49.6BNT$46.4B+6.9%
Gross margin7.6%7.3%+0.3 pp
Operating incomeNT$726MNT$498M+45.9%
Operating margin1.5%1.1%+0.4 pp
Net incomeNT$9BNT$488M+1,743.2%
Diluted EPSNT$2.04NT$0.12+1,600.0%
Operating cash flowNT$1.28BNT$5.13B-75.0%
CapexNT$1.68BNT$3.67B-54.4%
Free cash flow-NT$394MNT$1.45B-127.1%
R&DNT$129MNT$88M+46.8%
Stock-based compensationNT$0NT$0–

Reported vs consensus

2026-08-11
ActualConsensusvs consensus
RevenueNT$49.8BNT$47.2B+5.6%
EPS (as estimated)NT$2.05NT$0.58+252.2%

From the report of 2026-08-11 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$946M
Capex
-NT$9.07B
Buybacks
NT$0
Dividends
-NT$2.02B
Acquisitions
NT$204M
Net debt issued
NT$4.15B
Stock-based compensation
NT$0
Free cash flow
-NT$8.12B
Returned to shareholders / FCF
-24.8%

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)11.4×24.1×6.2× – 42.4×
EV / EBITDA30.8×10.3×5.9× – 13.6×
EV / Sales1.4×1.0×0.8× – 1.2×
Price / FCF-20.5×23.9× 1 of 5 years23.9× – 23.9×
Price / Book0.8×0.9×0.6× – 1.4×
FCF yield-4.9%-3.8%-9.4% – 4.2%
Return on invested capital-0.0%3.8%0.0% – 9.3%
Return on equity8.5%7.4%1.9% – 15.7%

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)
FY2026NT$190B+9.2%NT$4.79+538.7%7.8×1
FY2027NT$210B+10.4%NT$4.61-3.8%8.2×1
FY2028NT$248B+18.2%NT$0.00-100.0%–0

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