Chang Type Industrial Co 1541.TW · TWD
Consumer Discretionary · Taiwan Stock Exchange · 🇹🇼 Taiwan
19.15
+6.09%
Close of 9 Nov 2026, in TWD
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At a glance
Figures in TWD, from our data supplier.
Revenue
TWD 3.63bn
FY2016FY2025
Net income
TWD 182.7m
FY2016FY2025
Free cash flow
TWD 252.7m
FY2016FY2025
Shareholders' equity
TWD 2.11bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | TWD 3.63bn | TWD 2.99bn | TWD 3.38bn | TWD 4.06bn | TWD 6.20bn | TWD 5.27bn | TWD 4.20bn | TWD 3.59bn | TWD 3.65bn | TWD 3.53bn |
| Gross profit | TWD 667.3m | TWD 492.1m | TWD 662.8m | TWD 594.5m | TWD 781.1m | TWD 1.07bn | TWD 770.5m | TWD 479.3m | TWD 592.7m | TWD 765.1m |
| Research and development | TWD 21.6m | TWD 27.8m | TWD 17.5m | TWD 22.5m | TWD 27.0m | TWD 41.6m | TWD 45.9m | TWD 32.8m | TWD 42.8m | TWD 47.0m |
| Operating income | TWD 238.9m | TWD 117.6m | TWD 285.2m | TWD 378.4m | TWD 386.1m | TWD 598.9m | TWD 349.9m | TWD 54.6m | TWD 267.0m | TWD 431.2m |
| Net income | TWD 182.7m | TWD 83.7m | TWD 115.2m | TWD 272.1m | TWD 299.3m | TWD 456.6m | TWD 251.5m | TWD 78.6m | TWD 135.0m | TWD 344.5m |
| Diluted earnings per share | 2.32 | 1.06 | 1.46 | 3.45 | 3.80 | 5.81 | 3.19 | 0.99 | 1.70 | 4.37 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | TWD 3.18bn | TWD 3.16bn | TWD 3.98bn | TWD 3.61bn | TWD 5.20bn | TWD 3.84bn | TWD 3.10bn | TWD 2.81bn | TWD 2.88bn | TWD 2.62bn |
| Cash and short-term investments | TWD 148.1m | TWD 49.1m | TWD 82.6m | TWD 172.8m | TWD 103.8m | TWD 210.4m | TWD 172.4m | TWD 70.4m | TWD 109.5m | TWD 60.3m |
| Total liabilities | TWD 1.07bn | TWD 1.16bn | TWD 2.07bn | TWD 1.74bn | TWD 3.43bn | TWD 2.13bn | TWD 1.82bn | TWD 1.70bn | TWD 1.74bn | TWD 1.34bn |
| Debt | TWD 528.3m | TWD 477.1m | TWD 1.07bn | TWD 1.05bn | TWD 2.40bn | TWD 1.25bn | TWD 1.20bn | TWD 1.16bn | TWD 1.20bn | TWD 790.3m |
| Shareholders' equity | TWD 2.11bn | TWD 1.99bn | TWD 1.91bn | TWD 1.88bn | TWD 1.77bn | TWD 1.71bn | TWD 1.28bn | TWD 1.11bn | TWD 1.14bn | TWD 1.28bn |
| Shares outstanding | 79m | 79m | 79m | 79m | 79m | 79m | 79m | 79m | 79m | 79m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | TWD 256.7m | TWD 672.7m | TWD 179.4m | TWD 1.14bn | −TWD 635.6m | TWD 185.4m | TWD 417.0m | TWD 172.9m | TWD 41.6m | TWD 393.0m |
| Capital spending | −TWD 4.0m | −TWD 12.7m | −TWD 153.4m | −TWD 44.1m | −TWD 82.8m | −TWD 30.5m | −TWD 30.7m | −TWD 38.1m | −TWD 72.7m | −TWD 193.5m |
| Free cash flow | TWD 252.7m | TWD 660.0m | TWD 26.1m | TWD 1.10bn | −TWD 718.4m | TWD 154.9m | TWD 386.3m | TWD 134.8m | −TWD 31.1m | TWD 199.5m |
| Dividends paid | −TWD 39.4m | −TWD 39.4m | −TWD 78.8m | −TWD 197.0m | −TWD 236.4m | −TWD 236.4m | −TWD 78.8m | −TWD 118.2m | −TWD 260.0m | −TWD 253.1m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | TWD 603.3m | TWD 598.8m | TWD 748.1m | TWD 938.0m | TWD 1.10bn | TWD 847.6m | TWD 739.0m | TWD 716.4m |
| Gross profit | TWD 87.5m | TWD 112.2m | TWD 146.3m | TWD 143.6m | TWD 209.3m | TWD 168.1m | TWD 141.6m | TWD 95.9m |
| Operating income | TWD 19.1m | TWD 14.8m | TWD 55.1m | TWD 51.7m | TWD 97.2m | TWD 54.9m | TWD 23.7m | −TWD 26.7m |
| Net income | TWD 8.8m | TWD 37.9m | TWD 78.9m | TWD 87.0m | −TWD 24.8m | TWD 41.6m | TWD 10.4m | −TWD 16.8m |
| Diluted earnings per share | 0.11 | 0.48 | 1.00 | 1.11 | -0.32 | 0.53 | 0.13 | -0.21 |
| Cash from operations | TWD 98.0m | TWD 404.0m | TWD 213.0m | TWD 42.0m | −TWD 181.0m | TWD 212.0m | TWD 62.0m | TWD 131.0m |
| Capital spending | — | — | −TWD 1.0m | −TWD 7.0m | −TWD 6.0m | −TWD 3.0m | −TWD 7.0m | −TWD 2.0m |
| Free cash flow | — | — | TWD 212.0m | TWD 35.0m | −TWD 187.0m | TWD 209.0m | TWD 55.0m | TWD 129.0m |
| Total assets | TWD 3.13bn | TWD 3.15bn | TWD 3.18bn | TWD 3.28bn | TWD 3.42bn | TWD 3.30bn | TWD 3.16bn | TWD 3.19bn |
| Cash and short-term investments | TWD 585.9m | TWD 502.2m | TWD 148.1m | TWD 55.5m | TWD 88.8m | TWD 229.8m | TWD 49.1m | TWD 68.3m |
| Debt | TWD 144.9m | TWD 161.4m | TWD 212.7m | TWD 273.6m | TWD 334.9m | TWD 193.0m | TWD 200.8m | TWD 294.5m |
| Shareholders' equity | TWD 2.17bn | TWD 2.16bn | TWD 2.11bn | TWD 2.02bn | TWD 1.92bn | TWD 2.00bn | TWD 1.99bn | TWD 1.96bn |
Financial ratios
Data as of 30 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 18.4% | 16.5% | 19.6% | 14.7% | 12.6% | 20.2% |
| Operating margin | 6.6% | 3.9% | 4.9% | 9.3% | 6.2% | 11.4% |
| Net margin | 5.0% | 2.8% | 3.4% | 6.7% | 4.8% | 8.7% |
| Return on equity | 8.6% | 4.2% | 6.0% | 14.5% | 16.9% | 26.6% |
| Return on assets | 5.7% | 2.7% | 2.9% | 7.5% | 5.8% | 11.9% |
| Free cash flow yield | 17.3% | 45.2% | 22.1% | 78.8% | -36.7% | 14.3% |
| Revenue growth | 21.4% | -11.5% | -16.7% | -34.6% | 17.7% | 25.5% |
| Earnings growth | 118.3% | -27.3% | -57.7% | -9.1% | -34.5% | 81.6% |
| Current ratio | 3.06x | 2.42x | 1.75x | 1.93x | 1.36x | 1.57x |
| Debt to equity | 0.10x | 0.10x | 0.33x | 0.29x | 0.76x | 0.27x |
| Equity ratio | 66.5% | 63.1% | 48.0% | 51.9% | 34.0% | 44.7% |
| Interest coverage | 22.47x | 6.13x | 8.74x | 16.84x | 35.55x | 77.79x |
| R&D as a share of sales | 0.6% | 0.9% | 0.5% | 0.6% | 0.4% | 0.8% |
| Buybacks as a share of market value | 0.6% | -0.4% | 0.0% | -0.1% | -0.2% | 0.3% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -3.6% | -7.2% | 2.3% |
| Operating income | -14.2% | -16.8% | -2.2% |
| Net income | -12.4% | -16.7% | -4.3% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 17.5% | 17.2% | 16.7% | 17.3% |
| Operating margin | 5.4% | 7.3% | 7.9% | 7.8% |
| Net margin | 4.0% | 4.7% | 5.5% | 5.8% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 10.0 | 25.9 | 22.5 | 9.7 | 11.5 | 9.2 | 11.4 | 33.2 | 27.9 | 12.1 |
| Price to sales | 0.5 | 0.7 | 0.8 | 0.7 | 0.6 | 0.8 | 0.7 | 0.7 | 1.0 | 1.2 |
Dividends and splits
Per share, in the currency the company pays
Paid for 5 years. Last went ex-dividend on 27 Aug 2025.
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.50 | 0.50 | 1.00 | 2.50 | 3.00 | 1.00 | 1.50 | 3.30 |
- 1.098-for-1 split · 9 Sept 2010
- 21-for-20 split · 11 Sept 2008
- 1.01-for-1 split · 13 Sept 2004
- 1.105-for-1 split · 23 Jul 2003
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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