Lien Hwa Industrial Holdings 1229.TW · TWD
Consumer Staples · Taiwan Stock Exchange · 🇹🇼 Taiwan
38.10
-0.78%
Close of 9 Nov 2026, in TWD
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At a glance
Figures in TWD, from our data supplier.
Revenue
TWD 13.58bn
FY2016FY2025
Net income
TWD 4.60bn
FY2016FY2025
Free cash flow
TWD 5.95bn
FY2016FY2025
Shareholders' equity
TWD 57.20bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | TWD 13.58bn | TWD 12.95bn | TWD 13.60bn | TWD 12.33bn | TWD 11.32bn | TWD 9.54bn | TWD 8.27bn | TWD 5.10bn | TWD 4.85bn | TWD 5.22bn |
| Gross profit | TWD 3.41bn | TWD 2.69bn | TWD 2.48bn | TWD 2.69bn | TWD 2.52bn | TWD 2.04bn | TWD 1.87bn | TWD 832.1m | TWD 1.03bn | TWD 1.19bn |
| Research and development | TWD 91.5m | TWD 82.4m | TWD 56.1m | TWD 47.7m | TWD 47.8m | TWD 39.7m | TWD 41.2m | TWD 38.5m | TWD 33.6m | TWD 36.0m |
| Operating income | TWD 2.05bn | TWD 1.37bn | TWD 1.26bn | TWD 5.08bn | TWD 4.91bn | TWD 3.70bn | TWD 3.34bn | TWD 2.50bn | TWD 3.08bn | TWD 2.27bn |
| Net income | TWD 4.60bn | TWD 4.19bn | TWD 4.16bn | TWD 3.87bn | TWD 4.09bn | TWD 3.10bn | TWD 2.77bn | TWD 2.48bn | TWD 2.97bn | TWD 2.15bn |
| Diluted earnings per share | 2.17 | 2.33 | 2.32 | 2.34 | 2.47 | 1.87 | 1.67 | 1.49 | 1.79 | 1.29 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | TWD 96.35bn | TWD 92.10bn | TWD 84.58bn | TWD 69.91bn | TWD 71.67bn | TWD 55.99bn | TWD 46.54bn | TWD 30.39bn | TWD 29.65bn | TWD 26.25bn |
| Cash and short-term investments | TWD 6.26bn | TWD 6.00bn | TWD 6.08bn | TWD 3.44bn | TWD 3.56bn | TWD 2.46bn | TWD 2.48bn | TWD 707.1m | TWD 750.0m | TWD 775.4m |
| Total liabilities | TWD 17.81bn | TWD 18.30bn | TWD 19.22bn | TWD 16.48bn | TWD 15.25bn | TWD 11.54bn | TWD 8.91bn | TWD 5.77bn | TWD 4.37bn | TWD 4.13bn |
| Debt | TWD 11.20bn | TWD 13.09bn | TWD 13.49bn | TWD 12.09bn | TWD 12.00bn | TWD 9.16bn | TWD 7.08bn | TWD 5.15bn | TWD 3.67bn | TWD 3.36bn |
| Shareholders' equity | TWD 57.20bn | TWD 52.39bn | TWD 45.61bn | TWD 37.32bn | TWD 39.52bn | TWD 31.80bn | TWD 27.00bn | TWD 24.55bn | TWD 25.22bn | TWD 22.03bn |
| Shares outstanding | 2,121m | 1,801m | 1,789m | 1,656m | 1,656m | 1,654m | 1,654m | 1,665m | 1,664m | 1,667m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | TWD 6.24bn | TWD 4.08bn | TWD 3.54bn | TWD 3.64bn | TWD 1.93bn | TWD 2.34bn | TWD 2.82bn | TWD 2.22bn | TWD 1.81bn | TWD 2.38bn |
| Capital spending | −TWD 287.7m | −TWD 352.3m | −TWD 628.6m | −TWD 197.0m | −TWD 240.8m | −TWD 230.1m | −TWD 145.0m | −TWD 235.0m | −TWD 318.4m | −TWD 184.4m |
| Free cash flow | TWD 5.95bn | TWD 3.73bn | TWD 2.91bn | TWD 3.44bn | TWD 1.68bn | TWD 2.11bn | TWD 2.68bn | TWD 1.98bn | TWD 1.49bn | TWD 2.20bn |
| Dividends paid | −TWD 2.21bn | −TWD 2.06bn | −TWD 1.92bn | −TWD 2.53bn | −TWD 2.17bn | −TWD 1.76bn | −TWD 1.67bn | −TWD 1.72bn | −TWD 1.46bn | −TWD 1.07bn |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | TWD 2.51bn | TWD 2.52bn | TWD 3.82bn | TWD 3.23bn | TWD 4.11bn | TWD 2.43bn | TWD 3.17bn | TWD 2.78bn |
| Gross profit | TWD 458.8m | TWD 562.1m | TWD 806.9m | TWD 690.4m | TWD 1.53bn | TWD 375.3m | TWD 532.2m | TWD 428.9m |
| Operating income | TWD 147.4m | TWD 243.6m | TWD 426.8m | TWD 322.4m | TWD 1.25bn | TWD 82.4m | TWD 197.3m | TWD 68.6m |
| Net income | TWD 1.19bn | TWD 980.8m | TWD 1.01bn | TWD 1.28bn | TWD 1.38bn | TWD 934.1m | TWD 989.6m | TWD 754.9m |
| Diluted earnings per share | 0.64 | 0.53 | 0.48 | 0.60 | 0.65 | 0.44 | 0.55 | 0.42 |
| Cash from operations | TWD 442.0m | TWD 846.0m | TWD 1.60bn | TWD 3.68bn | TWD 347.0m | TWD 615.0m | TWD 522.0m | TWD 2.31bn |
| Capital spending | −TWD 59.0m | −TWD 52.0m | −TWD 94.0m | −TWD 80.0m | −TWD 93.0m | −TWD 76.0m | −TWD 254.0m | −TWD 142.0m |
| Free cash flow | TWD 383.0m | TWD 794.0m | TWD 1.51bn | TWD 3.60bn | TWD 254.0m | TWD 539.0m | TWD 268.0m | TWD 2.17bn |
| Total assets | TWD 111.36bn | TWD 99.44bn | TWD 96.35bn | TWD 98.84bn | TWD 90.45bn | TWD 90.13bn | TWD 92.10bn | TWD 86.97bn |
| Cash and short-term investments | TWD 7.44bn | TWD 6.79bn | TWD 6.26bn | TWD 7.37bn | TWD 5.67bn | TWD 6.52bn | TWD 6.00bn | TWD 6.06bn |
| Debt | TWD 10.12bn | TWD 10.76bn | TWD 11.28bn | TWD 13.19bn | TWD 12.43bn | TWD 12.97bn | TWD 12.72bn | TWD 13.02bn |
| Shareholders' equity | TWD 62.83bn | TWD 55.61bn | TWD 57.20bn | TWD 57.12bn | TWD 48.75bn | TWD 48.79bn | TWD 52.39bn | TWD 47.85bn |
Financial ratios
Data as of 13 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 25.1% | 20.8% | 18.3% | 21.8% | 22.3% | 21.3% |
| Operating margin | 15.1% | 10.6% | 9.3% | 41.2% | 43.3% | 38.8% |
| Net margin | 33.9% | 32.4% | 30.6% | 31.4% | 36.1% | 32.5% |
| Return on equity | 8.0% | 8.0% | 9.1% | 10.4% | 10.3% | 9.7% |
| Return on assets | 4.8% | 4.5% | 4.9% | 5.5% | 5.7% | 5.5% |
| Free cash flow yield | 7.6% | 6.0% | 5.7% | 5.7% | 3.2% | 3.8% |
| Revenue growth | 4.9% | -4.8% | 10.3% | 8.9% | 18.6% | 15.4% |
| Earnings growth | 9.8% | 0.8% | 7.4% | -5.3% | 32.0% | 12.0% |
| Current ratio | 1.18x | 1.12x | 1.12x | 1.06x | 0.86x | 0.82x |
| Debt to equity | 0.20x | 0.24x | 0.29x | 0.31x | 0.29x | 0.29x |
| Equity ratio | 59.4% | 56.9% | 53.9% | 53.4% | 55.1% | 56.8% |
| Interest coverage | 9.09x | 6.17x | 6.14x | 34.50x | 55.41x | 56.40x |
| R&D as a share of sales | 0.7% | 0.6% | 0.4% | 0.4% | 0.4% | 0.4% |
| Buybacks as a share of market value | -17.8% | -0.7% | -8.0% | 0.0% | -0.1% | -0.0% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 3.3% | 7.3% | 9.9% |
| Operating income | -26.1% | -11.2% | 3.5% |
| Net income | 5.9% | 8.2% | 12.5% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 23.0% | 21.5% | 21.6% | 21.1% |
| Operating margin | 12.9% | 18.6% | 25.0% | 30.4% |
| Net margin | 33.1% | 32.1% | 32.7% | 35.1% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 21.5 | 21.4 | 26.1 | 18.2 | 20.3 | 16.7 | 14.0 | 12.0 | 11.2 | 8.9 |
| Price to sales | 7.3 | 6.9 | 8.0 | 5.7 | 7.3 | 5.4 | 4.7 | 5.8 | 6.9 | 3.7 |
Dividends and splits
Per share, in the currency the company pays
Paid for 30 years. Last went ex-dividend on 8 Jul 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 1.801 | 1.274 | 1.214 | 1.124 | 1.385 | 1.189 | 1.119 | 0.965 |
- 1050-for-1000 split · 24 Jul 2025
- 27-for-25 split · 26 Jul 2024
- 1.07-for-1 split · 26 Jul 2023
- 21-for-20 split · 30 Aug 2022
- 11-for-10 split · 24 Sept 2021
- 29-for-25 split · 12 Aug 2020
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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