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Shihlin Paper 1903.TW · TWD

Materials · Taiwan Stock Exchange · 🇹🇼 Taiwan

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46.00

+0.55%

Close of 9 Nov 2026, in TWD

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At a glance

Figures in TWD, from our data supplier.

FY2025

Revenue

TWD 153.3m

FY2016FY2025

Net income

TWD 335.7m

FY2016FY2025

Free cash flow

−TWD 184.1m

FY2016FY2025

Shareholders' equity

TWD 5.53bn

FY2016FY2025

Income statement

Fiscal years

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
RevenueTWD 153.3mTWD 155.8mTWD 171.1mTWD 165.1mTWD 326.0mTWD 159.5mTWD 169.5mTWD 218.5mTWD 186.3mTWD 69.6m
Research and developmentTWD 2.2mTWD 3.0mTWD 4.3mTWD 4.5mTWD 6.1mTWD 9.0mTWD 9.1mTWD 6.5mTWD 4.3mTWD 1.8m
Operating incomeTWD 388.9m−TWD 48.3mTWD 125.5mTWD 239.6mTWD 105.6m−TWD 110.1m−TWD 153.5m−TWD 171.9m−TWD 146.4m−TWD 213.4m
Net incomeTWD 335.7m−TWD 21.0mTWD 86.4mTWD 211.8mTWD 84.2m−TWD 161.3m−TWD 205.7m−TWD 166.8m−TWD 170.5m−TWD 182.9m
Diluted earnings per share1.29-0.080.330.810.40-0.57-0.80-0.65-0.66-0.64

Balance sheet

At each fiscal year end

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Total assetsTWD 10.56bnTWD 10.27bnTWD 8.71bnTWD 9.30bnTWD 12.43bnTWD 7.52bnTWD 6.59bnTWD 6.46bnTWD 6.63bnTWD 6.60bn
Cash and short-term investmentsTWD 3.54bnTWD 3.47bnTWD 2.33bnTWD 3.24bnTWD 6.62bnTWD 1.65bnTWD 709.8mTWD 569.8mTWD 671.6mTWD 658.8m
Total liabilitiesTWD 5.03bnTWD 4.99bnTWD 4.41bnTWD 4.13bnTWD 3.98bnTWD 4.11bnTWD 4.07bnTWD 3.84bnTWD 3.74bnTWD 3.63bn
DebtTWD 3.29bnTWD 3.19bnTWD 2.66bnTWD 2.44bnTWD 2.33bnTWD 2.46bnTWD 2.42bnTWD 2.20bnTWD 2.09bnTWD 1.98bn
Shareholders' equityTWD 5.53bnTWD 5.27bnTWD 4.30bnTWD 5.16bnTWD 8.46bnTWD 3.41bnTWD 2.52bnTWD 2.62bnTWD 2.89bnTWD 2.97bn
Shares outstanding260m260m260m260m211m284m257m255m260m287m

Cash flow

Fiscal years

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash from operationsTWD 109.1mTWD 28.3mTWD 136.9mTWD 276.5mTWD 177.0m−TWD 97.7m−TWD 125.4m−TWD 132.6m−TWD 105.6m−TWD 133.5m
Capital spending−TWD 293.2m−TWD 356.2m−TWD 261.4m−TWD 162.9m−TWD 5.2m−TWD 4.9m−TWD 3.8m−TWD 3.8m−TWD 14.0m−TWD 22.6m
Free cash flow−TWD 184.1m−TWD 327.9m−TWD 124.6mTWD 113.6mTWD 171.8m−TWD 102.6m−TWD 129.2m−TWD 136.4m−TWD 119.6m−TWD 156.2m

Latest quarters

By quarter end

Jun 2026Mar 2026Dec 2025Sept 2025Jun 2025Mar 2025Dec 2024Sept 2024
RevenueTWD 37.4mTWD 39.2mTWD 39.0mTWD 36.9mTWD 37.3mTWD 40.1mTWD 39.7mTWD 37.9m
Operating income−TWD 9.8m−TWD 8.4m−TWD 8.4mTWD 9.8m−TWD 25.6m−TWD 8.8m−TWD 10.1mTWD 39.8m
Net income−TWD 20.9m−TWD 19.0mTWD 196.3mTWD 196.1m−TWD 38.6m−TWD 18.1m−TWD 21.1mTWD 30.2m
Diluted earnings per share-0.08-0.070.750.75-0.15-0.07-0.080.12
Cash from operations—−TWD 13.0mTWD 23.0mTWD 119.0m−TWD 11.0mTWD 2.0m−TWD 36.0mTWD 57.0m
Capital spending—−TWD 49.0m−TWD 57.0m−TWD 98.0m−TWD 56.0m−TWD 81.0m−TWD 120.0m−TWD 75.0m
Free cash flow—−TWD 62.0m−TWD 34.0mTWD 21.0m−TWD 67.0m−TWD 79.0m−TWD 156.0m−TWD 18.0m
Total assets—TWD 10.50bnTWD 10.56bnTWD 10.19bnTWD 10.60bnTWD 10.20bnTWD 10.27bnTWD 10.86bn
Cash and short-term investments—TWD 3.43bnTWD 3.54bnTWD 3.15bnTWD 3.63bnTWD 3.32bnTWD 3.47bnTWD 4.25bn
Debt—TWD 3.31bnTWD 3.29bnTWD 3.23bnTWD 3.22bnTWD 3.25bnTWD 3.19bnTWD 3.15bn
Shareholders' equity—TWD 5.44bnTWD 5.53bnTWD 5.16bnTWD 5.52bnTWD 5.14bnTWD 5.27bnTWD 5.94bn

Financial ratios

Data as of 1 Oct 2026

FY2025FY2024FY2023FY2022FY2021FY2020
Operating margin253.7%-31.0%73.3%145.2%32.4%-69.1%
Net margin219.0%-13.5%50.5%128.3%25.8%-101.1%
Return on equity6.1%-0.4%2.0%4.1%1.0%-4.7%
Return on assets3.2%-0.2%1.0%2.3%0.7%-2.1%
Free cash flow yield3.2%3.1%3.2%3.5%1.8%-0.7%
Revenue growth-1.6%-9.0%3.7%-49.4%104.4%-5.9%
Earnings growth-1698.1%-124.3%-59.2%151.4%-152.2%-21.6%
Current ratio1.13x1.08x0.97x1.38x2.83x0.72x
Debt to equity0.60x0.60x0.62x0.47x0.28x0.72x
Equity ratio52.3%51.4%49.4%55.5%68.0%45.4%
Interest coverage7.45x-1.05x3.05x8.61x4.64x-4.30x
R&D as a share of sales1.5%1.9%2.5%2.7%1.9%5.7%
Buybacks as a share of market value0.0%0.0%0.0%-23.4%25.9%-10.7%

Growth per year

Compound annual rate

3 years5 years10 years
Revenue-2.4%-0.8%-2.9%
Operating income17.5%——
Net income16.6%——

Average margins

Over each period

1 year3 years5 years10 years
Operating margin110.2%109.4%62.0%-10.6%
Net margin101.8%95.0%47.4%-17.6%

Valuation history

At each fiscal year end

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Price to earnings41.8-641.1173.261.1162.3-104.6-42.4-45.8-49.7-51.3
Price to sales91.486.587.478.541.9105.851.435.045.5134.8

Dividends and splits

Per share, in the currency the company pays

Paid for 0 years. Last went ex-dividend on 25 Aug 1997.

FY1997
Paid in the year0.626
  • 27-for-25 split · 24 Aug 2001
  • 27-for-25 split · 25 Aug 1999
  • 1.073-for-1 split · 25 Aug 1997
  • 1.025-for-1 split · 18 Sept 1995
  • 11-for-10 split · 27 Aug 1994
  • 11-for-10 split · 19 Dec 1990

Sources and methodology

Data on this tab
Our data supplier
Chart on the Overview
TradingView

Nothing here is investment advice. Prices can be delayed or wrong, so check with the exchange before relying on them. Data for this page. How we cover markets.