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Test Research 3030.TW · TWD

Information Technology · Taiwan Stock Exchange · 🇹🇼 Taiwan

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221.00

+9.95%

Close of 9 Nov 2026, in TWD

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At a glance

Figures in TWD, from our data supplier.

FY2025

Revenue

TWD 8.47bn

FY2016FY2025

Net income

TWD 2.48bn

FY2016FY2025

Free cash flow

TWD 1.43bn

FY2016FY2025

Shareholders' equity

TWD 9.60bn

FY2016FY2025

Income statement

Fiscal years

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
RevenueTWD 8.47bnTWD 6.36bnTWD 4.44bnTWD 6.71bnTWD 5.61bnTWD 4.95bnTWD 4.39bnTWD 4.92bnTWD 3.60bnTWD 3.10bn
Gross profitTWD 4.94bnTWD 3.78bnTWD 2.63bnTWD 3.85bnTWD 3.05bnTWD 2.72bnTWD 2.49bnTWD 2.63bnTWD 1.91bnTWD 1.70bn
Research and developmentTWD 640.2mTWD 573.0mTWD 428.2mTWD 534.9mTWD 497.0mTWD 390.8mTWD 422.5mTWD 379.8mTWD 314.4mTWD 325.8m
Operating incomeTWD 2.99bnTWD 2.04bnTWD 1.21bnTWD 2.46bnTWD 1.56bnTWD 1.38bnTWD 1.14bnTWD 1.28bnTWD 757.7mTWD 544.7m
Net incomeTWD 2.48bnTWD 1.84bnTWD 1.00bnTWD 1.92bnTWD 1.19bnTWD 1.09bnTWD 938.7mTWD 1.06bnTWD 594.9mTWD 429.2m
Diluted earnings per share10.487.764.238.105.014.643.994.512.511.80

Balance sheet

At each fiscal year end

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Total assetsTWD 12.16bnTWD 10.14bnTWD 8.91bnTWD 9.17bnTWD 8.01bnTWD 7.00bnTWD 6.57bnTWD 6.47bnTWD 6.06bnTWD 5.77bn
Cash and short-term investmentsTWD 1.58bnTWD 1.32bnTWD 1.35bnTWD 1.43bnTWD 1.42bnTWD 1.79bnTWD 1.51bnTWD 1.10bnTWD 1.23bnTWD 1.73bn
Total liabilitiesTWD 2.55bnTWD 1.86bnTWD 1.72bnTWD 1.91bnTWD 1.91bnTWD 1.30bnTWD 1.19bnTWD 1.12bnTWD 1.05bnTWD 644.3m
DebtTWD 45.6mTWD 29.7mTWD 48.6mTWD 45.2mTWD 56.7mTWD 43.5mTWD 61.5m———
Shareholders' equityTWD 9.60bnTWD 8.28bnTWD 7.19bnTWD 7.27bnTWD 6.10bnTWD 5.70bnTWD 5.38bnTWD 5.35bnTWD 5.01bnTWD 5.13bn
Shares outstanding236m237m237m237m236m236m235m236m237m239m

Cash flow

Fiscal years

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash from operationsTWD 1.72bnTWD 1.16bnTWD 1.88bnTWD 1.47bnTWD 591.4mTWD 1.12bnTWD 1.36bnTWD 626.8mTWD 248.5mTWD 553.0m
Capital spending−TWD 286.6m−TWD 389.0m−TWD 876.8m−TWD 679.9m−TWD 155.1m−TWD 52.6m−TWD 53.7m−TWD 51.2m−TWD 41.5m−TWD 33.5m
Free cash flowTWD 1.43bnTWD 770.6mTWD 1.00bnTWD 787.3mTWD 436.3mTWD 1.07bnTWD 1.30bnTWD 575.6mTWD 207.0mTWD 519.5m
Dividends paid−TWD 1.18bn−TWD 779.5m−TWD 1.06bn−TWD 779.5m−TWD 779.5m−TWD 779.5m−TWD 874.0m−TWD 708.6m−TWD 708.6m−TWD 944.9m

Latest quarters

By quarter end

Jun 2026Mar 2026Dec 2025Sept 2025Jun 2025Mar 2025Dec 2024Sept 2024
RevenueTWD 2.95bnTWD 2.44bnTWD 2.08bnTWD 2.07bnTWD 2.38bnTWD 1.94bnTWD 1.49bnTWD 1.63bn
Gross profitTWD 1.73bnTWD 1.47bnTWD 1.26bnTWD 1.17bnTWD 1.39bnTWD 1.12bnTWD 918.1mTWD 962.1m
Operating income−TWD 322.5mTWD 931.7mTWD 711.3mTWD 666.9mTWD 945.0mTWD 670.6mTWD 475.5mTWD 526.2m
Net incomeTWD 912.0mTWD 826.5mTWD 686.2mTWD 693.2mTWD 521.5mTWD 577.8mTWD 526.9mTWD 388.3m
Diluted earnings per share3.863.502.902.932.212.442.231.64
Cash from operations—TWD 519.0mTWD 819.0m−TWD 91.0mTWD 7.0mTWD 996.0mTWD 505.0mTWD 152.0m
Capital spending—−TWD 9.0m−TWD 204.0m−TWD 21.0m−TWD 24.0m−TWD 40.0m−TWD 145.0m−TWD 92.0m
Free cash flow—TWD 510.0mTWD 615.0m−TWD 112.0m−TWD 17.0mTWD 956.0mTWD 360.0mTWD 60.0m
Total assets—TWD 13.41bnTWD 12.16bnTWD 11.36bnTWD 11.94bnTWD 11.13bnTWD 10.14bnTWD 9.83bn
Cash and short-term investments—TWD 2.10bnTWD 1.58bnTWD 928.8mTWD 2.17bnTWD 2.30bnTWD 1.32bnTWD 978.4m
Debt—TWD 48.8mTWD 65.7mTWD 54.5mTWD 48.2mTWD 33.3mTWD 33.2mTWD 46.2m
Shareholders' equity—TWD 10.46bnTWD 9.60bnTWD 8.86bnTWD 8.10bnTWD 8.88bnTWD 8.28bnTWD 7.76bn

Financial ratios

Data as of 15 Sept 2026

FY2025FY2024FY2023FY2022FY2021FY2020
Gross margin58.4%59.5%59.3%57.4%54.4%54.8%
Operating margin35.3%32.0%27.2%36.7%27.8%27.8%
Net margin29.3%28.9%22.6%28.6%21.1%22.1%
Return on equity25.8%22.2%13.9%26.4%19.4%19.2%
Return on assets20.4%18.1%11.2%20.9%14.8%15.6%
Free cash flow yield3.3%2.5%4.5%3.5%1.2%1.9%
Revenue growth33.2%43.3%-33.9%19.7%13.3%12.9%
Earnings growth35.0%83.4%-47.9%62.1%8.5%16.4%
Current ratio3.45x3.74x3.44x3.75x3.52x4.67x
Debt to equity0.00x0.00x0.01x0.00x0.01x0.01x
Equity ratio79.0%81.6%80.7%79.2%76.1%81.5%
Interest coverage1213.40x719.15x439.88x1054.89x1005.50x1007.20x
R&D as a share of sales7.6%9.0%9.7%8.0%8.9%7.9%
Buybacks as a share of market value0.1%-0.0%0.2%-0.3%-0.3%-0.1%

Growth per year

Compound annual rate

3 years5 years10 years
Revenue8.1%11.3%5.9%
Operating income6.7%16.8%10.0%
Net income8.9%17.8%9.5%

Average margins

Over each period

1 year3 years5 years10 years
Gross margin58.9%58.6%57.4%56.3%
Operating margin33.9%33.5%31.8%28.8%
Net margin29.1%27.9%26.1%23.6%

Valuation history

At each fiscal year end

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Price to earnings18.315.714.87.911.712.513.310.117.821.3
Price to sales5.34.53.42.32.52.82.92.22.92.9

Dividends and splits

Per share, in the currency the company pays

Paid for 23 years. Last went ex-dividend on 11 Jun 2026.

FY2026FY2025FY2024FY2023FY2022FY2021FY2020FY2019
Paid in the year7.005.003.304.503.303.303.303.70
  • 1.06-for-1 split · 23 Jul 2013
  • 1.03-for-1 split · 11 Jul 2012
  • 1.07-for-1 split · 19 Jul 2011
  • 21-for-20 split · 21 Jul 2010
  • 1.02-for-1 split · 15 Sept 2009
  • 1.18-for-1 split · 6 Aug 2008

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.