H 
HORNG SHIUE HOLDING Co 2243.TW · TWD
Consumer Discretionary · Taiwan Stock Exchange · 🇹🇼 Taiwan
46.90
+5.75%
Close of 9 Nov 2026, in TWD
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At a glance
Figures in TWD, from our data supplier.
Revenue
TWD 1.74bn
FY2016FY2025
Net income
TWD 84.6m
FY2016FY2025
Free cash flow
TWD 48.9m
FY2016FY2025
Shareholders' equity
TWD 844.0m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | TWD 1.74bn | TWD 1.91bn | TWD 1.67bn | TWD 1.70bn | TWD 1.50bn | TWD 757.6m | TWD 1.77bn | TWD 2.06bn | TWD 2.16bn | TWD 2.09bn |
| Gross profit | TWD 238.5m | TWD 165.1m | TWD 11.2m | TWD 136.9m | TWD 76.7m | −TWD 145.7m | TWD 137.3m | TWD 252.8m | TWD 290.6m | TWD 371.0m |
| Research and development | TWD 35.2m | TWD 27.7m | TWD 17.8m | TWD 51.8m | TWD 42.8m | TWD 26.1m | TWD 55.4m | TWD 64.7m | TWD 65.1m | TWD 63.3m |
| Operating income | TWD 103.5m | TWD 30.7m | −TWD 92.8m | TWD 28.7m | −TWD 925,000 | −TWD 289.0m | TWD 5.9m | TWD 67.6m | TWD 91.1m | TWD 157.3m |
| Net income | TWD 84.6m | TWD 16.7m | −TWD 144.3m | −TWD 28.6m | −TWD 79.5m | −TWD 284.9m | −TWD 131.1m | −TWD 34.1m | TWD 43.5m | TWD 120.6m |
| Diluted earnings per share | 1.22 | 0.24 | -2.08 | -0.61 | -1.96 | -6.54 | -3.06 | -0.83 | 1.17 | 4.02 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | TWD 3.38bn | TWD 3.22bn | TWD 3.21bn | TWD 3.37bn | TWD 4.09bn | TWD 3.90bn | TWD 3.30bn | TWD 3.96bn | TWD 3.99bn | TWD 3.77bn |
| Cash and short-term investments | TWD 478.2m | TWD 479.7m | TWD 232.1m | TWD 215.8m | TWD 252.3m | TWD 86.9m | TWD 163.6m | TWD 254.2m | TWD 138.1m | TWD 334.5m |
| Total liabilities | TWD 2.57bn | TWD 2.48bn | TWD 2.53bn | TWD 2.88bn | TWD 3.60bn | TWD 3.35bn | TWD 2.48bn | TWD 2.99bn | TWD 2.98bn | TWD 2.90bn |
| Debt | TWD 830.2m | TWD 923.0m | TWD 742.7m | TWD 835.1m | TWD 1.58bn | TWD 991.0m | TWD 1.16bn | TWD 1.12bn | TWD 818.9m | TWD 721.7m |
| Shareholders' equity | TWD 844.0m | TWD 744.0m | TWD 678.6m | TWD 491.0m | TWD 491.1m | TWD 551.1m | TWD 825.3m | TWD 965.1m | TWD 1.01bn | TWD 868.7m |
| Shares outstanding | 69m | 69m | 69m | 47m | 41m | 44m | 43m | 41m | 37m | 30m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | TWD 112.9m | TWD 329.8m | TWD 40.9m | TWD 46.2m | TWD 317.9m | TWD 46.4m | TWD 83.9m | −TWD 76.4m | −TWD 213.2m | TWD 367,000 |
| Capital spending | −TWD 64.0m | −TWD 14.5m | −TWD 45.2m | −TWD 15.0m | −TWD 53.2m | −TWD 96.3m | −TWD 180.8m | −TWD 69.3m | −TWD 205.8m | −TWD 22.1m |
| Free cash flow | TWD 48.9m | TWD 315.3m | −TWD 4.3m | TWD 31.2m | TWD 264.6m | −TWD 49.9m | −TWD 96.9m | −TWD 145.7m | −TWD 419.0m | −TWD 21.8m |
| Dividends paid | — | — | — | — | — | — | — | −TWD 20.8m | −TWD 37.0m | −TWD 59.9m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | TWD 404.0m | TWD 558.2m | TWD 633.1m | TWD 367.9m | TWD 538.3m | TWD 199.8m | TWD 676.5m | TWD 385.0m |
| Gross profit | TWD 14.1m | TWD 83.1m | TWD 138.1m | TWD 11.2m | TWD 105.7m | −TWD 7.6m | TWD 73.5m | TWD 6.8m |
| Operating income | −TWD 19.8m | TWD 43.4m | TWD 95.8m | −TWD 26.7m | TWD 76.0m | −TWD 41.6m | TWD 35.4m | −TWD 30.4m |
| Net income | −TWD 23.2m | TWD 46.0m | TWD 92.2m | −TWD 34.0m | TWD 68.4m | −TWD 42.0m | TWD 29.4m | −TWD 25.3m |
| Diluted earnings per share | -0.33 | 0.66 | 1.33 | -0.49 | 0.99 | -0.61 | 0.42 | -0.37 |
| Cash from operations | TWD 29.0m | TWD 8.0m | TWD 224.0m | −TWD 48.0m | −TWD 103.0m | TWD 34.0m | TWD 310.0m | −TWD 31.0m |
| Capital spending | −TWD 23.0m | −TWD 4.0m | −TWD 2.0m | −TWD 7.0m | −TWD 60.0m | −TWD 2.0m | −TWD 2.0m | −TWD 4.0m |
| Free cash flow | TWD 6.0m | TWD 4.0m | TWD 222.0m | −TWD 55.0m | −TWD 163.0m | TWD 32.0m | TWD 308.0m | −TWD 35.0m |
| Total assets | TWD 3.51bn | TWD 3.23bn | TWD 3.38bn | TWD 3.23bn | TWD 2.95bn | TWD 3.31bn | TWD 3.22bn | TWD 3.33bn |
| Cash and short-term investments | TWD 591.0m | TWD 446.6m | TWD 478.2m | TWD 312.3m | TWD 340.1m | TWD 512.0m | TWD 479.7m | TWD 278.1m |
| Debt | TWD 592.8m | TWD 680.4m | TWD 577.8m | TWD 677.4m | TWD 562.4m | TWD 762.8m | TWD 764.4m | TWD 694.0m |
| Shareholders' equity | TWD 1.07bn | TWD 890.0m | TWD 844.0m | TWD 684.9m | TWD 676.7m | TWD 713.7m | TWD 744.0m | TWD 701.2m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 0.8% | 18.1% | -1.0% |
| Operating income | 53.3% | — | -4.6% |
| Net income | — | — | -2.6% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 11.1% | 7.9% | 5.2% | 9.8% |
| Operating margin | 3.7% | 1.0% | -2.4% | 1.4% |
| Net margin | 2.8% | -1.0% | -4.7% | -1.7% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 9.4 | 70.1 | -8.9 | -26.2 | -9.2 | -1.9 | -4.6 | -24.0 | 37.4 |
| Price to sales | 0.5 | 0.6 | 0.8 | 0.4 | 0.5 | 0.7 | 0.3 | 0.4 | 0.8 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 18 Jul 2018.
| FY2018 | |
|---|---|
| Paid in the year | 0.50 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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