N 
Nankang Rubber Tire Corp 2101.TW · TWD
Consumer Discretionary · Taiwan Stock Exchange · 🇹🇼 Taiwan
27.55
+0.55%
Close of 9 Nov 2026, in TWD
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At a glance
Figures in TWD, from our data supplier.
Revenue
TWD 8.43bn
FY2016FY2025
Net income
TWD 809.8m
FY2016FY2025
Free cash flow
TWD 1.40bn
FY2016FY2025
Shareholders' equity
TWD 12.67bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | TWD 8.43bn | TWD 15.22bn | TWD 7.85bn | TWD 7.41bn | TWD 8.08bn | TWD 9.70bn | TWD 11.11bn | TWD 10.45bn | TWD 11.33bn | TWD 10.32bn |
| Gross profit | TWD 1.81bn | TWD 4.89bn | TWD 1.55bn | TWD 1.07bn | TWD 1.33bn | TWD 2.33bn | TWD 2.06bn | TWD 1.63bn | TWD 2.12bn | TWD 2.31bn |
| Research and development | TWD 88.4m | TWD 87.2m | TWD 77.7m | TWD 76.6m | TWD 108.1m | TWD 94.4m | TWD 110.7m | TWD 99.8m | TWD 85.0m | TWD 87.3m |
| Operating income | TWD 578.8m | TWD 3.51bn | TWD 442.0m | −TWD 409.3m | −TWD 142.9m | TWD 1.10bn | TWD 715.2m | TWD 428.7m | TWD 917.4m | TWD 1.15bn |
| Net income | TWD 809.8m | TWD 2.95bn | TWD 134.0m | −TWD 1.02bn | −TWD 243.3m | TWD 844.4m | TWD 1.14bn | TWD 183.4m | TWD 633.3m | TWD 1.03bn |
| Diluted earnings per share | 1.01 | 4.02 | 0.18 | -1.39 | -0.33 | 1.19 | 1.61 | 0.26 | 0.89 | 1.44 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | TWD 54.28bn | TWD 44.14bn | TWD 41.62bn | TWD 37.32bn | TWD 37.32bn | TWD 32.03bn | TWD 27.64bn | TWD 23.42bn | TWD 23.75bn | TWD 22.77bn |
| Cash and short-term investments | TWD 5.28bn | TWD 2.48bn | TWD 3.10bn | TWD 3.41bn | TWD 6.26bn | TWD 8.99bn | TWD 6.32bn | TWD 3.00bn | TWD 2.93bn | TWD 2.73bn |
| Total liabilities | TWD 41.61bn | TWD 30.57bn | TWD 31.26bn | TWD 27.01bn | TWD 26.07bn | TWD 21.24bn | TWD 16.93bn | TWD 13.04bn | TWD 12.85bn | TWD 11.28bn |
| Debt | TWD 22.95bn | TWD 20.70bn | TWD 20.36bn | TWD 17.67bn | TWD 17.18bn | TWD 13.38bn | TWD 11.10bn | TWD 10.41bn | TWD 10.03bn | TWD 8.51bn |
| Shareholders' equity | TWD 12.67bn | TWD 13.57bn | TWD 10.36bn | TWD 10.31bn | TWD 11.25bn | TWD 10.79bn | TWD 10.71bn | TWD 10.37bn | TWD 10.90bn | TWD 11.48bn |
| Shares outstanding | 802m | 734m | 734m | 734m | 736m | 708m | 703m | 706m | 709m | 711m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | TWD 1.83bn | −TWD 772.8m | −TWD 2.78bn | −TWD 2.96bn | −TWD 2.86bn | TWD 1.38bn | TWD 4.26bn | TWD 1.08bn | TWD 751.8m | TWD 1.23bn |
| Capital spending | −TWD 425.7m | −TWD 577.3m | −TWD 248.9m | −TWD 312.9m | −TWD 845.3m | −TWD 764.4m | −TWD 964.3m | −TWD 796.6m | −TWD 1.00bn | −TWD 1.26bn |
| Free cash flow | TWD 1.40bn | −TWD 1.35bn | −TWD 3.03bn | −TWD 3.27bn | −TWD 3.71bn | TWD 612.5m | TWD 3.30bn | TWD 282.1m | −TWD 250.8m | −TWD 31.6m |
| Dividends paid | −TWD 417.0m | — | — | — | −TWD 481.3m | −TWD 882.5m | −TWD 561.6m | −TWD 567.1m | −TWD 917.3m | −TWD 166.7m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | TWD 7.63bn | TWD 5.42bn | TWD 1.74bn | TWD 2.18bn | TWD 2.45bn | TWD 2.07bn | TWD 2.08bn | TWD 8.78bn |
| Gross profit | TWD 3.31bn | TWD 2.22bn | TWD 364.6m | TWD 433.8m | TWD 588.3m | TWD 422.2m | TWD 429.7m | TWD 3.38bn |
| Operating income | TWD 2.61bn | TWD 1.65bn | TWD 75.6m | TWD 128.2m | TWD 264.0m | TWD 111.1m | TWD 94.1m | TWD 2.97bn |
| Net income | TWD 1.60bn | TWD 1.34bn | TWD 1.12bn | TWD 77.6m | −TWD 295.2m | −TWD 87.8m | −TWD 202.6m | TWD 2.60bn |
| Diluted earnings per share | 2.21 | 1.86 | 1.39 | 0.10 | -0.37 | -0.11 | -0.28 | 3.55 |
| Cash from operations | TWD 2.50bn | TWD 2.75bn | TWD 2.14bn | TWD 1.08bn | −TWD 743.0m | −TWD 640.0m | TWD 262.0m | TWD 1.06bn |
| Capital spending | −TWD 83.0m | −TWD 165.0m | −TWD 168.0m | −TWD 110.0m | −TWD 9.0m | −TWD 159.0m | −TWD 357.0m | −TWD 92.0m |
| Free cash flow | TWD 2.41bn | TWD 2.59bn | TWD 1.97bn | TWD 967.0m | −TWD 752.0m | −TWD 799.0m | −TWD 95.0m | TWD 972.0m |
| Total assets | TWD 45.83bn | TWD 52.22bn | TWD 54.28bn | TWD 50.61bn | TWD 43.96bn | TWD 44.44bn | TWD 44.14bn | TWD 43.97bn |
| Cash and short-term investments | TWD 2.98bn | TWD 4.95bn | TWD 5.28bn | TWD 2.45bn | TWD 1.63bn | TWD 2.28bn | TWD 2.48bn | TWD 1.95bn |
| Debt | TWD 9.37bn | TWD 20.19bn | TWD 22.95bn | TWD 22.85bn | TWD 22.08bn | TWD 21.15bn | TWD 20.70bn | TWD 20.29bn |
| Shareholders' equity | TWD 15.04bn | TWD 13.47bn | TWD 12.67bn | TWD 11.36bn | TWD 12.13bn | TWD 13.14bn | TWD 13.57bn | TWD 13.71bn |
Financial ratios
Data as of 23 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 21.5% | 32.1% | 19.8% | 14.5% | 16.5% | 24.0% |
| Operating margin | 6.9% | 23.0% | 5.6% | -5.5% | -1.8% | 11.3% |
| Net margin | 9.6% | 19.4% | 1.7% | -13.8% | -3.0% | 8.7% |
| Return on equity | 6.4% | 21.7% | 1.3% | -9.9% | -2.2% | 7.8% |
| Return on assets | 1.5% | 6.7% | 0.3% | -2.7% | -0.7% | 2.6% |
| Free cash flow yield | 9.4% | -0.9% | -11.5% | -12.0% | -9.1% | 10.1% |
| Revenue growth | -44.6% | 93.9% | 5.9% | -8.2% | -16.7% | -12.7% |
| Earnings growth | -72.5% | 2099.7% | -113.1% | 320.8% | -128.8% | -25.7% |
| Current ratio | 1.52x | 1.90x | 1.53x | 1.48x | 1.31x | 1.47x |
| Debt to equity | 1.81x | 1.53x | 1.96x | 1.71x | 1.53x | 1.24x |
| Equity ratio | 23.3% | 30.7% | 24.9% | 27.6% | 30.1% | 33.7% |
| Interest coverage | 2.46x | 19.76x | 2.49x | -3.23x | -1.55x | 11.09x |
| R&D as a share of sales | 1.0% | 0.6% | 1.0% | 1.0% | 1.3% | 1.0% |
| Buybacks as a share of market value | -9.3% | 0.0% | -0.0% | 0.3% | -3.9% | -0.7% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 4.4% | -2.8% | -2.5% |
| Operating income | — | -12.1% | -4.9% |
| Net income | — | -0.8% | -0.0% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 28.3% | 24.0% | 22.9% | 21.0% |
| Operating margin | 17.3% | 10.6% | 9.0% | 8.3% |
| Net margin | 15.9% | 7.4% | 6.1% | 6.6% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 36.9 | 12.9 | 261.3 | -27.3 | -137.9 | 40.0 | 34.0 | 113.1 | 34.0 | 23.2 |
| Price to sales | 3.5 | 2.5 | 4.5 | 3.8 | 4.2 | 3.5 | 3.5 | 2.0 | 1.9 | 2.3 |
Dividends and splits
Per share, in the currency the company pays
Paid for 1 years. Last went ex-dividend on 15 Sept 2025.
| FY2025 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2014 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 1.931 | 0.682 | 1.25 | 0.796 | 0.803 | 1.299 | 0.227 | 1.199 |
- 1000-to-880.087 reverse split · 15 Sept 2025
- 1000-to-880 reverse split · 4 Sept 2025
- 1.063-for-1 split · 25 Jul 2011
- 13-for-10 split · 25 Jun 2008
- 1.469-for-1 split · 20 Aug 2007
- 7-for-5 split · 4 Jul 2006
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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