T 
Tonlin Department Store Co 2910.TW · TWD
Consumer Discretionary · Taiwan Stock Exchange · 🇹🇼 Taiwan
21.55
-4.22%
Close of 9 Nov 2026, in TWD
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At a glance
Figures in TWD, from our data supplier.
Revenue
TWD 518.3m
FY2016FY2025
Net income
TWD 215.1m
FY2016FY2025
Free cash flow
TWD 237.6m
FY2016FY2025
Shareholders' equity
TWD 2.76bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | TWD 518.3m | TWD 606.0m | TWD 684.1m | TWD 712.0m | TWD 528.6m | TWD 554.4m | TWD 650.2m | TWD 436.1m | TWD 282.0m | TWD 665.8m |
| Operating income | TWD 279.1m | TWD 237.2m | TWD 208.9m | TWD 151.5m | TWD 171.5m | TWD 191.4m | TWD 170.1m | TWD 117.3m | TWD 90.3m | TWD 84.9m |
| Net income | TWD 215.1m | TWD 197.9m | TWD 204.9m | TWD 96.4m | TWD 140.7m | TWD 114.2m | TWD 111.8m | TWD 90.1m | TWD 26.0m | TWD 36.6m |
| Diluted earnings per share | 1.24 | 1.13 | 1.17 | 0.55 | 0.77 | 0.65 | 0.63 | 0.50 | 0.14 | 0.21 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | TWD 6.37bn | TWD 5.97bn | TWD 5.59bn | TWD 5.70bn | TWD 6.02bn | TWD 6.26bn | TWD 6.29bn | TWD 6.60bn | TWD 5.78bn | TWD 5.62bn |
| Cash and short-term investments | TWD 874.3m | TWD 745.0m | TWD 788.9m | TWD 593.7m | TWD 575.1m | TWD 536.8m | TWD 462.3m | TWD 479.0m | TWD 413.0m | TWD 450.7m |
| Total liabilities | TWD 3.61bn | TWD 3.25bn | TWD 3.00bn | TWD 3.31bn | TWD 3.62bn | TWD 3.90bn | TWD 3.92bn | TWD 4.34bn | TWD 3.58bn | TWD 3.36bn |
| Debt | TWD 3.15bn | TWD 2.74bn | TWD 2.50bn | TWD 2.83bn | TWD 3.17bn | TWD 3.30bn | TWD 3.38bn | TWD 3.58bn | TWD 3.21bn | TWD 2.79bn |
| Shareholders' equity | TWD 2.76bn | TWD 2.72bn | TWD 2.59bn | TWD 2.39bn | TWD 2.40bn | TWD 2.36bn | TWD 2.37bn | TWD 2.25bn | TWD 2.20bn | TWD 2.26bn |
| Shares outstanding | 173m | 175m | 175m | 175m | 183m | 175m | 179m | 181m | 181m | 170m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | TWD 245.4m | TWD 424.9m | TWD 285.7m | TWD 555.1m | TWD 262.9m | TWD 168.2m | TWD 399.0m | TWD 298.8m | −TWD 82.0m | TWD 13.8m |
| Capital spending | −TWD 7.8m | −TWD 609,000 | −TWD 5.0m | −TWD 27.9m | −TWD 83.3m | −TWD 11.6m | −TWD 195.8m | −TWD 647.4m | −TWD 267.2m | −TWD 15.0m |
| Free cash flow | TWD 237.6m | TWD 424.3m | TWD 280.8m | TWD 527.3m | TWD 179.5m | TWD 156.6m | TWD 203.2m | −TWD 348.6m | −TWD 349.2m | −TWD 1.3m |
| Dividends paid | −TWD 166.6m | −TWD 59.7m | — | −TWD 87.7m | −TWD 87.7m | −TWD 122.8m | −TWD 122.8m | −TWD 122.8m | −TWD 87.7m | −TWD 87.7m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | TWD 144.8m | TWD 134.9m | TWD 129.7m | TWD 131.3m | TWD 130.0m | TWD 127.3m | TWD 147.9m | TWD 125.8m |
| Operating income | TWD 73.6m | TWD 79.6m | TWD 67.2m | TWD 70.6m | TWD 69.7m | TWD 71.7m | TWD 78.2m | TWD 54.0m |
| Net income | TWD 127.5m | TWD 51.2m | TWD 57.5m | TWD 85.0m | TWD 20.5m | TWD 52.1m | TWD 52.9m | TWD 38.5m |
| Diluted earnings per share | 0.73 | 0.29 | 0.33 | 0.49 | 0.12 | 0.30 | 0.30 | 0.22 |
| Cash from operations | TWD 96.0m | TWD 79.0m | TWD 94.0m | TWD 53.0m | TWD 73.0m | TWD 20.0m | TWD 177.0m | TWD 22.0m |
| Capital spending | — | −TWD 5.0m | — | −TWD 6.0m | — | — | — | — |
| Free cash flow | — | TWD 74.0m | — | TWD 47.0m | — | — | — | — |
| Total assets | TWD 6.81bn | TWD 6.49bn | TWD 6.37bn | TWD 6.19bn | TWD 5.95bn | TWD 6.01bn | TWD 5.97bn | TWD 5.86bn |
| Cash and short-term investments | TWD 885.1m | TWD 884.1m | TWD 874.3m | TWD 729.7m | TWD 737.5m | TWD 797.0m | TWD 745.0m | TWD 936.9m |
| Debt | TWD 3.58bn | TWD 3.22bn | TWD 3.15bn | TWD 3.06bn | TWD 2.88bn | TWD 2.78bn | TWD 2.77bn | TWD 2.75bn |
| Shareholders' equity | TWD 2.77bn | TWD 2.64bn | TWD 2.76bn | TWD 2.71bn | TWD 2.63bn | TWD 2.61bn | TWD 2.72bn | TWD 2.67bn |
Financial ratios
Data as of 21 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Operating margin | 53.8% | 52.2% | 40.7% | 20.7% | 32.4% | 33.8% |
| Net margin | 41.5% | 32.7% | 30.0% | 13.5% | 26.6% | 20.6% |
| Return on equity | 7.8% | 7.3% | 7.9% | 4.0% | 5.9% | 4.8% |
| Return on assets | 3.4% | 3.3% | 3.7% | 1.7% | 2.3% | 1.8% |
| Free cash flow yield | 6.0% | 10.2% | 6.9% | 13.4% | 6.1% | 4.1% |
| Revenue growth | -14.5% | -11.4% | -3.9% | 34.7% | -4.7% | -14.7% |
| Earnings growth | 8.7% | -3.4% | 112.6% | -31.5% | 23.2% | 2.1% |
| Current ratio | 1.59x | 1.27x | 1.16x | 0.94x | 1.14x | 1.01x |
| Debt to equity | 1.14x | 1.02x | 0.98x | 1.20x | 1.34x | 1.41x |
| Equity ratio | 43.3% | 45.6% | 46.3% | 41.9% | 39.8% | 37.8% |
| Interest coverage | 5.16x | 6.62x | 6.03x | 4.03x | 5.78x | 5.33x |
| Buybacks as a share of market value | 1.2% | 0.0% | 0.0% | 3.9% | -4.5% | 2.2% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -10.0% | -1.3% | -2.5% |
| Operating income | 22.6% | 7.8% | 10.4% |
| Net income | 30.7% | 13.5% | 10.3% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 45.9% | 34.8% | 34.4% | 28.6% |
| Net margin | 36.7% | 28.3% | 26.9% | 20.8% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 16.6 | 20.1 | 24.1 | 55.1 | 51.9 | 80.9 | 63.1 | 52.3 | 182.8 | 181.7 |
| Price to sales | 6.9 | 6.6 | 7.2 | 7.5 | 13.8 | 16.7 | 10.8 | 10.8 | 16.8 | 10.0 |
Dividends and splits
Per share, in the currency the company pays
Paid for 2 years. Last went ex-dividend on 30 Mar 2026.
| FY2026 | FY2025 | FY2024 | FY2022 | FY2021 | FY2020 | FY2017 | FY2015 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 1.04 | 0.95 | 0.681 | 0.50 | 0.50 | 0.70 | 0.50 | 0.70 |
- 11-for-10 split · 19 Jul 2000
- 11-for-10 split · 12 Jul 1999
- 5-for-4 split · 18 Jul 1998
- 1.416-for-1 split · 12 Jul 1997
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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