W 
Wistron 3231.TW · TWD
Information Technology · Technology Hardware, Storage & Peripherals · Taiwan Stock Exchange · 🇹🇼 Taiwan
168.50
+5.31%
Close of 9 Nov 2026, in TWD
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At a glance
Figures in TWD, from our data supplier.
Revenue
TWD 2.19trn
FY2016FY2025
Net income
TWD 27.41bn
FY2016FY2025
Free cash flow
−TWD 145.49bn
FY2016FY2025
Shareholders' equity
TWD 177.58bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | TWD 2.19trn | TWD 1.05trn | TWD 867.06bn | TWD 984.62bn | TWD 862.08bn | TWD 845.01bn | TWD 878.26bn | TWD 889.54bn | TWD 836.08bn | TWD 659.91bn |
| Gross profit | TWD 133.98bn | TWD 84.09bn | TWD 68.98bn | TWD 69.73bn | TWD 51.13bn | TWD 46.05bn | TWD 42.16bn | TWD 37.56bn | TWD 31.64bn | TWD 31.64bn |
| Research and development | TWD 31.37bn | TWD 25.97bn | TWD 23.89bn | TWD 25.01bn | TWD 20.76bn | TWD 19.05bn | TWD 16.20bn | TWD 14.40bn | TWD 14.70bn | TWD 13.79bn |
| Operating income | TWD 78.55bn | TWD 43.77bn | TWD 27.39bn | TWD 30.70bn | TWD 21.11bn | TWD 19.19bn | TWD 17.59bn | TWD 14.00bn | TWD 8.61bn | TWD 6.01bn |
| Net income | TWD 27.41bn | TWD 17.45bn | TWD 11.47bn | TWD 19.02bn | TWD 14.73bn | TWD 12.91bn | TWD 9.73bn | TWD 4.91bn | TWD 3.89bn | TWD 2.96bn |
| Diluted earnings per share | 4.38 | 5.93 | 3.96 | 6.45 | 5.34 | 4.64 | 3.45 | 1.74 | 1.44 | 1.15 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | TWD 1.10trn | TWD 589.84bn | TWD 452.39bn | TWD 432.91bn | TWD 497.30bn | TWD 428.82bn | TWD 344.18bn | TWD 339.10bn | TWD 326.65bn | TWD 282.76bn |
| Cash and short-term investments | TWD 150.75bn | TWD 88.89bn | TWD 80.66bn | TWD 85.00bn | TWD 98.47bn | TWD 92.24bn | TWD 60.72bn | TWD 43.60bn | TWD 66.56bn | TWD 58.83bn |
| Total liabilities | TWD 844.44bn | TWD 403.06bn | TWD 323.63bn | TWD 314.26bn | TWD 404.81bn | TWD 344.90bn | TWD 260.28bn | TWD 265.57bn | TWD 260.23bn | TWD 214.79bn |
| Debt | TWD 337.59bn | TWD 137.93bn | TWD 132.60bn | TWD 145.33bn | TWD 178.47bn | TWD 130.16bn | TWD 77.11bn | TWD 81.25bn | TWD 91.46bn | TWD 57.77bn |
| Shareholders' equity | TWD 177.58bn | TWD 132.79bn | TWD 104.22bn | TWD 96.38bn | TWD 77.92bn | TWD 71.57bn | TWD 73.95bn | TWD 68.95bn | TWD 65.13bn | TWD 67.25bn |
| Shares outstanding | 6,253m | 2,942m | 2,900m | 2,946m | 2,758m | 2,784m | 2,823m | 2,821m | 2,702m | 2,582m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −TWD 105.81bn | TWD 5.75bn | TWD 48.22bn | TWD 53.44bn | −TWD 21.54bn | −TWD 10.67bn | TWD 18.60bn | TWD 4.16bn | −TWD 13.14bn | TWD 45.36bn |
| Capital spending | −TWD 39.68bn | −TWD 17.82bn | −TWD 13.76bn | −TWD 14.45bn | −TWD 11.18bn | −TWD 10.31bn | −TWD 6.80bn | −TWD 8.90bn | −TWD 7.54bn | −TWD 6.94bn |
| Free cash flow | −TWD 145.49bn | −TWD 12.07bn | TWD 34.45bn | TWD 38.99bn | −TWD 32.72bn | −TWD 20.98bn | TWD 11.80bn | −TWD 4.74bn | −TWD 20.68bn | TWD 38.42bn |
| Dividends paid | −TWD 11.00bn | −TWD 7.46bn | −TWD 7.40bn | −TWD 6.26bn | −TWD 6.26bn | −TWD 5.68bn | −TWD 4.23bn | −TWD 3.21bn | −TWD 3.04bn | −TWD 2.90bn |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | TWD 895.44bn | TWD 846.30bn | TWD 720.94bn | TWD 567.81bn | TWD 551.29bn | TWD 346.49bn | TWD 297.18bn | TWD 272.54bn |
| Gross profit | TWD 50.66bn | TWD 44.09bn | TWD 40.51bn | TWD 41.96bn | TWD 24.45bn | TWD 27.06bn | TWD 24.03bn | TWD 22.74bn |
| Operating income | TWD 33.45bn | TWD 29.14bn | TWD 25.47bn | TWD 27.14bn | TWD 13.06bn | TWD 15.15bn | TWD 12.90bn | TWD 11.41bn |
| Net income | TWD 14.83bn | TWD 9.63bn | TWD 8.17bn | TWD 7.41bn | TWD 6.50bn | TWD 5.33bn | TWD 5.31bn | TWD 4.20bn |
| Diluted earnings per share | 4.36 | 2.83 | 1.31 | 1.18 | 1.04 | 0.85 | 1.81 | 1.43 |
| Cash from operations | −TWD 110.75bn | −TWD 140.61bn | TWD 70.84bn | −TWD 38.55bn | −TWD 110.87bn | −TWD 27.22bn | TWD 18.17bn | −TWD 13.98bn |
| Capital spending | −TWD 14.49bn | −TWD 9.06bn | −TWD 11.68bn | −TWD 14.02bn | −TWD 10.39bn | −TWD 4.24bn | −TWD 8.07bn | −TWD 3.73bn |
| Free cash flow | −TWD 125.24bn | −TWD 149.67bn | TWD 59.16bn | −TWD 52.57bn | −TWD 121.27bn | −TWD 31.46bn | TWD 10.10bn | −TWD 17.70bn |
| Total assets | TWD 1.57trn | TWD 1.47trn | TWD 1.10trn | TWD 960.47bn | TWD 889.81bn | TWD 684.92bn | TWD 589.84bn | TWD 554.00bn |
| Cash and short-term investments | TWD 128.61bn | TWD 106.72bn | TWD 150.75bn | TWD 83.92bn | TWD 101.13bn | TWD 83.06bn | TWD 88.89bn | TWD 83.59bn |
| Debt | TWD 427.26bn | TWD 450.82bn | TWD 339.47bn | TWD 326.89bn | TWD 264.82bn | TWD 162.10bn | TWD 130.93bn | TWD 135.44bn |
| Shareholders' equity | TWD 194.00bn | TWD 190.18bn | TWD 177.58bn | TWD 161.06bn | TWD 149.59bn | TWD 139.32bn | TWD 132.79bn | TWD 123.26bn |
Financial ratios
Data as of 1 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 6.1% | 8.0% | 8.0% | 7.1% | 5.9% | 5.5% |
| Operating margin | 3.6% | 4.2% | 3.2% | 3.1% | 2.4% | 2.3% |
| Net margin | 1.3% | 1.7% | 1.3% | 1.9% | 1.7% | 1.5% |
| Return on equity | 15.4% | 13.1% | 11.0% | 19.7% | 18.9% | 18.0% |
| Return on assets | 2.5% | 3.0% | 2.5% | 4.4% | 3.0% | 3.0% |
| Free cash flow yield | -5.8% | 4.4% | 11.7% | 12.7% | -2.1% | -0.1% |
| Revenue growth | 108.4% | 21.0% | -11.9% | 14.2% | 2.0% | -3.8% |
| Earnings growth | 57.1% | 52.1% | -39.7% | 29.1% | 14.1% | 32.7% |
| Current ratio | 1.29x | 1.37x | 1.25x | 1.20x | 1.15x | 1.15x |
| Debt to equity | 1.90x | 0.99x | 1.23x | 1.48x | 2.26x | 1.80x |
| Equity ratio | 16.2% | 22.5% | 23.0% | 22.3% | 15.7% | 16.7% |
| Interest coverage | 4.97x | 5.46x | 3.13x | 5.13x | 11.23x | 8.17x |
| R&D as a share of sales | 1.4% | 2.5% | 2.8% | 2.5% | 2.4% | 2.3% |
| Buybacks as a share of market value | -112.5% | -1.5% | 1.6% | -6.8% | 1.0% | 1.4% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 30.5% | 20.9% | 13.4% |
| Operating income | 36.8% | 32.6% | 41.8% |
| Net income | 13.0% | 16.3% | 35.3% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 6.7% | 7.0% | 6.7% | 5.9% |
| Operating margin | 3.8% | 3.5% | 3.2% | 2.5% |
| Net margin | 1.4% | 1.5% | 1.5% | 1.2% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 34.3 | 17.5 | 24.9 | 4.5 | 5.5 | 6.7 | 8.2 | 11.0 | 16.2 | 20.5 |
| Price to sales | 0.4 | 0.3 | 0.3 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 |
Dividends and splits
Per share, in the currency the company pays
Paid for 20 years. Last went ex-dividend on 8 Jul 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 5.501 | 3.799 | 2.599 | 2.599 | 2.20 | 2.20 | 2.042 | 1.488 |
- 1.029-for-1 split · 1 Aug 2018
- 1.03-for-1 split · 2 Aug 2017
- 1.03-for-1 split · 9 Aug 2016
- 1.031-for-1 split · 6 Aug 2015
- 1.02-for-1 split · 29 Jul 2014
- 21-for-20 split · 1 Aug 2013
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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