M 
Micro-Star International Co 2377.TW · TWD
Information Technology · Taiwan Stock Exchange · 🇹🇼 Taiwan
143.00
+4.38%
Close of 9 Nov 2026, in TWD
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At a glance
Figures in TWD, from our data supplier.
Revenue
TWD 230.20bn
FY2016FY2025
Net income
TWD 5.75bn
FY2016FY2025
Free cash flow
TWD 447.9m
FY2016FY2025
Shareholders' equity
TWD 54.60bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | TWD 230.20bn | TWD 197.87bn | TWD 182.97bn | TWD 180.41bn | TWD 201.81bn | TWD 146.50bn | TWD 120.49bn | TWD 118.53bn | TWD 106.42bn | TWD 102.19bn |
| Gross profit | TWD 25.21bn | TWD 24.20bn | TWD 22.85bn | TWD 25.73bn | TWD 38.24bn | TWD 21.30bn | TWD 15.86bn | TWD 16.13bn | TWD 15.03bn | TWD 14.95bn |
| Research and development | TWD 5.22bn | TWD 5.14bn | TWD 4.28bn | TWD 4.40bn | TWD 5.18bn | TWD 3.72bn | TWD 3.32bn | TWD 3.35bn | TWD 3.20bn | TWD 3.40bn |
| Operating income | TWD 6.39bn | TWD 7.19bn | TWD 8.81bn | TWD 12.37bn | TWD 20.66bn | TWD 9.62bn | TWD 6.56bn | TWD 6.71bn | TWD 5.62bn | TWD 5.52bn |
| Net income | TWD 5.75bn | TWD 6.79bn | TWD 7.53bn | TWD 9.96bn | TWD 16.92bn | TWD 7.96bn | TWD 5.59bn | TWD 6.04bn | TWD 4.94bn | TWD 4.89bn |
| Diluted earnings per share | 6.71 | 8.03 | 8.90 | 11.79 | 19.70 | 9.35 | 6.55 | 7.09 | 5.80 | 5.73 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | TWD 120.95bn | TWD 96.62bn | TWD 90.52bn | TWD 86.85bn | TWD 101.46bn | TWD 78.40bn | TWD 60.35bn | TWD 55.17bn | TWD 49.15bn | TWD 50.47bn |
| Cash and short-term investments | TWD 31.25bn | TWD 24.39bn | TWD 25.91bn | TWD 27.77bn | TWD 23.75bn | TWD 19.79bn | TWD 12.19bn | TWD 9.64bn | TWD 10.12bn | TWD 12.44bn |
| Total liabilities | TWD 66.35bn | TWD 43.75bn | TWD 40.34bn | TWD 38.45bn | TWD 54.38bn | TWD 42.86bn | TWD 29.34bn | TWD 25.23bn | TWD 21.35bn | TWD 23.58bn |
| Debt | TWD 11.17bn | TWD 900.3m | TWD 672.5m | TWD 580.7m | TWD 2.34bn | TWD 3.46bn | TWD 1.92bn | TWD 3.02bn | TWD 17.6m | TWD 20.2m |
| Shareholders' equity | TWD 54.60bn | TWD 52.87bn | TWD 50.18bn | TWD 48.40bn | TWD 47.08bn | TWD 35.54bn | TWD 31.01bn | TWD 29.95bn | TWD 27.80bn | TWD 26.89bn |
| Shares outstanding | 856m | 846m | 847m | 845m | 859m | 852m | 853m | 852m | 852m | 853m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | TWD 4.00bn | TWD 5.00bn | TWD 4.96bn | TWD 15.64bn | TWD 12.61bn | TWD 10.82bn | TWD 9.27bn | TWD 84.6m | TWD 2.44bn | TWD 5.04bn |
| Capital spending | −TWD 3.55bn | −TWD 2.31bn | −TWD 643.6m | −TWD 821.2m | −TWD 1.56bn | −TWD 970.8m | −TWD 982.7m | −TWD 450.5m | −TWD 637.6m | −TWD 432.9m |
| Free cash flow | TWD 447.9m | TWD 2.69bn | TWD 4.32bn | TWD 14.82bn | TWD 11.05bn | TWD 9.85bn | TWD 8.29bn | −TWD 365.9m | TWD 1.81bn | TWD 4.61bn |
| Dividends paid | −TWD 4.22bn | −TWD 4.56bn | −TWD 5.58bn | −TWD 8.87bn | −TWD 5.15bn | −TWD 3.55bn | −TWD 3.80bn | −TWD 3.80bn | −TWD 3.80bn | −TWD 2.96bn |
Financial ratios
Data as of 13 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 11.0% | 12.2% | 12.5% | 14.3% | 19.0% | 14.5% |
| Operating margin | 2.8% | 3.6% | 4.8% | 6.9% | 10.2% | 6.6% |
| Net margin | 2.5% | 3.4% | 4.1% | 5.5% | 8.4% | 5.4% |
| Return on equity | 10.5% | 12.8% | 15.0% | 20.6% | 35.9% | 22.4% |
| Return on assets | 4.8% | 7.0% | 8.3% | 11.5% | 16.7% | 10.2% |
| Free cash flow yield | 5.9% | 5.8% | 4.4% | 13.1% | 11.1% | 9.3% |
| Revenue growth | 16.3% | 8.1% | 1.4% | -10.6% | 37.8% | 21.6% |
| Earnings growth | -15.4% | -9.8% | -24.4% | -41.1% | 112.6% | 42.5% |
| Current ratio | 1.84x | 2.04x | 2.08x | 2.09x | 1.74x | 1.69x |
| Debt to equity | 0.20x | 0.01x | 0.01x | 0.04x | 0.05x | 0.09x |
| Equity ratio | 45.1% | 54.7% | 55.4% | 55.7% | 46.4% | 45.3% |
| Interest coverage | 47.20x | 162.28x | 318.55x | 323.46x | 1104.61x | 301.18x |
| R&D as a share of sales | 2.3% | 2.6% | 2.3% | 2.4% | 2.6% | 2.5% |
| Buybacks as a share of market value | -1.2% | 0.1% | -0.2% | 1.7% | -0.9% | 0.2% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 8.5% | 9.5% | 10.4% |
| Operating income | -19.8% | -7.9% | 4.6% |
| Net income | -16.8% | -6.3% | 4.5% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 11.5% | 12.4% | 13.8% | 13.9% |
| Operating margin | 3.2% | 4.4% | 5.7% | 5.6% |
| Net margin | 2.9% | 3.8% | 4.8% | 4.8% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 14.3 | 22.9 | 22.9 | 10.1 | 8.2 | 14.2 | 13.2 | 10.8 | 13.2 | 12.8 |
| Price to sales | 0.4 | 0.8 | 0.9 | 0.6 | 0.7 | 0.8 | 0.6 | 0.6 | 0.6 | 0.6 |
Dividends and splits
Per share, in the currency the company pays
Paid for 25 years. Last went ex-dividend on 20 Aug 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 4.20 | 5.00 | 5.40 | 6.60 | 10.50 | 6.10 | 4.20 | 4.50 |
- 1.05-for-1 split · 6 Aug 2009
- 1.04-for-1 split · 7 Aug 2008
- 1.06-for-1 split · 9 Aug 2007
- 1.11-for-1 split · 10 Aug 2006
- 1.03-for-1 split · 24 Aug 2005
- 11-for-10 split · 3 Aug 2004
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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