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Test Rite International Co 2908.TW · TWD

Consumer Discretionary · Taiwan Stock Exchange · 🇹🇼 Taiwan

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21.75

+1.64%

Close of 9 Nov 2026, in TWD

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At a glance

Figures in TWD, from our data supplier.

FY2025

Revenue

TWD 33.62bn

FY2016FY2025

Net income

TWD 115.2m

FY2016FY2025

Free cash flow

TWD 1.48bn

FY2016FY2025

Shareholders' equity

TWD 6.99bn

FY2016FY2025

Income statement

Fiscal years

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
RevenueTWD 33.62bnTWD 36.83bnTWD 35.41bnTWD 37.41bnTWD 43.76bnTWD 41.79bnTWD 38.06bnTWD 39.90bnTWD 36.96bnTWD 35.44bn
Gross profitTWD 8.52bnTWD 9.48bnTWD 8.89bnTWD 9.10bnTWD 10.71bnTWD 10.66bnTWD 10.31bnTWD 10.26bnTWD 10.78bnTWD 11.26bn
Operating incomeTWD 579.0mTWD 663.6mTWD 470.2mTWD 864.7mTWD 767.9mTWD 1.30bnTWD 583.2mTWD 487.9mTWD 960.7mTWD 1.03bn
Net incomeTWD 115.2mTWD 331.7mTWD 257.7mTWD 425.9mTWD 782.8mTWD 791.6mTWD 100.4mTWD 406.5mTWD 823.0mTWD 676.0m
Diluted earnings per share0.220.630.520.861.601.610.200.791.631.33

Balance sheet

At each fiscal year end

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Total assetsTWD 38.41bnTWD 36.11bnTWD 36.59bnTWD 38.75bnTWD 38.37bnTWD 37.66bnTWD 35.68bnTWD 26.00bnTWD 22.87bnTWD 24.32bn
Cash and short-term investmentsTWD 2.63bnTWD 3.24bnTWD 1.94bnTWD 3.39bnTWD 2.45bnTWD 3.35bnTWD 2.15bnTWD 2.35bnTWD 2.12bnTWD 2.95bn
Total liabilitiesTWD 29.64bnTWD 28.47bnTWD 29.80bnTWD 31.67bnTWD 31.39bnTWD 30.88bnTWD 29.24bnTWD 18.58bnTWD 15.20bnTWD 16.90bn
DebtTWD 14.29bnTWD 19.13bnTWD 21.18bnTWD 22.56bnTWD 18.73bnTWD 18.32bnTWD 19.94bnTWD 9.41bnTWD 7.01bnTWD 7.97bn
Shareholders' equityTWD 6.99bnTWD 7.15bnTWD 6.55bnTWD 6.89bnTWD 6.82bnTWD 6.64bnTWD 6.30bnTWD 7.34bnTWD 7.63bnTWD 7.41bn
Shares outstanding534m527m496m496m490m492m504m516m505m508m

Cash flow

Fiscal years

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash from operationsTWD 1.94bnTWD 2.38bnTWD 2.12bn−TWD 56.6mTWD 1.48bnTWD 4.91bnTWD 2.24bnTWD 985.1mTWD 340.2mTWD 2.47bn
Capital spending−TWD 456.6m−TWD 370.1m−TWD 389.4m−TWD 597.6m−TWD 433.9m−TWD 430.5m−TWD 1.13bn−TWD 2.12bn−TWD 237.0m−TWD 702.4m
Free cash flowTWD 1.48bnTWD 2.01bnTWD 1.73bn−TWD 654.2mTWD 1.05bnTWD 4.48bnTWD 1.11bn−TWD 1.14bnTWD 103.1mTWD 1.76bn
Dividends paid−TWD 458.9m−TWD 297.3m−TWD 634.3m−TWD 634.3m−TWD 530.3m−TWD 351.9m−TWD 652.7m−TWD 611.9m−TWD 550.7m−TWD 484.4m

Latest quarters

By quarter end

Jun 2026Mar 2026Dec 2025Sept 2025Jun 2025Mar 2025Dec 2024Sept 2024
RevenueTWD 8.47bnTWD 9.40bnTWD 8.22bnTWD 8.42bnTWD 8.43bnTWD 8.56bnTWD 9.02bnTWD 8.87bn
Gross profitTWD 2.76bnTWD 2.78bnTWD 2.24bnTWD 2.01bnTWD 2.04bnTWD 2.23bnTWD 2.41bnTWD 2.30bn
Operating incomeTWD 226.2mTWD 276.9mTWD 239.5mTWD 127.2mTWD 34.2mTWD 178.1mTWD 95.7mTWD 194.2m
Net incomeTWD 383.9mTWD 160.9mTWD 80.9mTWD 31.0m−TWD 70.9mTWD 74.3mTWD 30.6mTWD 74.4m
Diluted earnings per share0.700.300.150.06-0.130.140.060.14
Cash from operations—TWD 321.0mTWD 1.16bnTWD 925.0mTWD 181.0m−TWD 328.0mTWD 1.70bnTWD 170.0m
Capital spending—−TWD 57.0m−TWD 115.0m−TWD 133.0m−TWD 127.0m−TWD 80.0m−TWD 172.0m−TWD 60.0m
Free cash flow—TWD 264.0mTWD 1.04bnTWD 792.0mTWD 54.0m−TWD 408.0mTWD 1.53bnTWD 110.0m
Total assets—TWD 40.54bnTWD 38.41bnTWD 37.13bnTWD 35.74bnTWD 36.99bnTWD 36.11bnTWD 37.42bn
Cash and short-term investments—TWD 3.78bnTWD 2.63bnTWD 3.58bnTWD 3.52bnTWD 3.06bnTWD 3.24bnTWD 2.86bn
Debt—TWD 15.84bnTWD 14.29bnTWD 15.04bnTWD 14.34bnTWD 14.03bnTWD 13.75bnTWD 14.81bn
Shareholders' equity—TWD 6.91bnTWD 6.99bnTWD 6.73bnTWD 6.50bnTWD 6.83bnTWD 7.15bnTWD 7.01bn

Financial ratios

Data as of 5 Oct 2026

FY2025FY2024FY2023FY2022FY2021FY2020
Gross margin25.3%25.7%25.1%24.3%24.5%25.5%
Operating margin1.7%1.8%1.3%2.3%1.8%3.1%
Net margin0.3%0.9%0.7%1.1%1.8%1.9%
Return on equity1.6%4.6%3.9%6.2%11.5%11.9%
Return on assets0.3%0.9%0.7%1.1%2.0%2.1%
Free cash flow yield16.3%20.4%19.3%-0.5%13.7%45.0%
Revenue growth-8.7%4.0%-5.3%-14.5%4.7%9.8%
Earnings growth-65.3%28.7%-39.5%-45.6%-1.1%688.8%
Current ratio1.24x1.30x1.20x1.19x1.10x1.04x
Debt to equity2.05x1.92x2.11x2.10x1.71x1.77x
Equity ratio18.2%19.8%17.9%17.8%17.8%17.6%
Interest coverage1.10x1.13x0.79x1.97x2.64x3.80x
Buybacks as a share of market value-1.5%-6.3%0.0%-1.2%0.4%2.5%

Growth per year

Compound annual rate

3 years5 years10 years
Revenue-3.5%-4.3%-0.7%
Operating income-12.5%-15.0%-3.3%
Net income-35.3%-32.0%-16.1%

Average margins

Over each period

1 year3 years5 years10 years
Gross margin25.5%25.1%25.1%26.8%
Operating margin1.8%1.8%2.0%2.1%
Net margin0.6%0.8%1.2%1.3%

Valuation history

At each fiscal year end

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Price to earnings94.231.940.422.913.516.6106.528.614.015.1
Price to sales0.30.30.30.30.20.30.30.30.30.3

Dividends and splits

Per share, in the currency the company pays

Paid for 26 years. Last went ex-dividend on 16 Jun 2026.

FY2026FY2025FY2024FY2023FY2022FY2021FY2020FY2019
Paid in the year0.550.900.5831.281.281.070.710.713
  • 1.031-for-1 split · 15 Aug 2012
  • 1.015-for-1 split · 12 Aug 2009
  • 1.01-for-1 split · 11 Aug 2008
  • 1.02-for-1 split · 5 Dec 2007
  • 1.049-for-1 split · 4 Aug 2006
  • 1.02-for-1 split · 16 Aug 2005

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.