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Z

Zen Voce 3581.TWO · TWD

Information Technology · Taipei Exchange · 🇹🇼 Taiwan

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79.10

+5.75%

Close of 9 Nov 2026, in TWD

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Reference data, closing prices and charts across 45,000 companies, plus crypto, commodities and currencies.

At a glance

Figures in TWD, from our data supplier.

FY2025

Revenue

TWD 1.57bn

FY2016FY2025

Net income

TWD 41.1m

FY2016FY2025

Free cash flow

−TWD 28.6m

FY2016FY2025

Shareholders' equity

TWD 884.6m

FY2016FY2025

Income statement

Fiscal years

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
RevenueTWD 1.57bnTWD 1.38bnTWD 1.46bnTWD 1.51bnTWD 1.31bnTWD 1.20bnTWD 1.18bnTWD 1.17bnTWD 1.22bnTWD 885.5m
Gross profitTWD 519.6mTWD 458.5mTWD 434.6mTWD 566.6mTWD 523.7mTWD 474.5mTWD 461.4mTWD 432.9mTWD 448.7mTWD 341.4m
Research and developmentTWD 96.6mTWD 98.4mTWD 83.6mTWD 93.4mTWD 84.9mTWD 68.5mTWD 69.2mTWD 73.7mTWD 60.6mTWD 65.4m
Operating incomeTWD 125.1mTWD 59.3mTWD 99.2mTWD 144.3mTWD 148.0mTWD 174.2mTWD 96.5mTWD 69.5mTWD 99.2mTWD 69.4m
Net incomeTWD 41.1mTWD 30.8mTWD 27.9mTWD 64.1mTWD 107.7mTWD 76.6mTWD 53.7mTWD 36.3mTWD 76.9mTWD 52.2m
Diluted earnings per share0.810.570.581.262.111.501.050.701.501.09

Balance sheet

At each fiscal year end

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Total assetsTWD 2.03bnTWD 2.02bnTWD 1.96bnTWD 2.07bnTWD 1.90bnTWD 1.66bnTWD 1.53bnTWD 1.57bnTWD 1.58bnTWD 1.59bn
Cash and short-term investments——TWD 792.1mTWD 667.5mTWD 646.8mTWD 455.5m————
Total liabilitiesTWD 970.6mTWD 1.01bnTWD 985.0mTWD 1.10bnTWD 959.2mTWD 764.1mTWD 1.5mTWD 710.4mTWD 700.4mTWD 686.1m
Debt—TWD 436.4mTWD 512.3mTWD 507.9mTWD 470.6mTWD 428.8mTWD 419.0mTWD 400.4mTWD 382.0mTWD 340.2m
Shareholders' equityTWD 884.6mTWD 859.7mTWD 841.9mTWD 853.3mTWD 821.2mTWD 765.2mTWD 729.1mTWD 725.9mTWD 738.1mTWD 738.9m
Shares outstanding51m54m48m51m51m51m51m52m51m48m

Cash flow

Fiscal years

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash from operations−TWD 13.3mTWD 12.1mTWD 129.0mTWD 138.9mTWD 80.5mTWD 11.5mTWD 115.7mTWD 96.6m−TWD 39.0mTWD 106.6m
Capital spending−TWD 15.3m−TWD 13.6m−TWD 26.7m−TWD 87.4m−TWD 24.5m−TWD 36.3m−TWD 14.4m−TWD 7.9m−TWD 7.8m−TWD 5.8m
Free cash flow−TWD 28.6m−TWD 1.4mTWD 102.3mTWD 51.5mTWD 56.0m−TWD 24.8mTWD 101.3mTWD 88.7m−TWD 46.7mTWD 100.7m
Dividends paid————−TWD 45.9m−TWD 35.7m−TWD 1.2m−TWD 51.3m−TWD 51.3m−TWD 51.3m

Latest quarters

By quarter end

Jun 2026Mar 2026Dec 2025Sept 2025Jun 2025Mar 2025Dec 2024Sept 2024
RevenueTWD 439.7mTWD 405.2mTWD 500.0mTWD 414.1mTWD 299.2mTWD 356.5mTWD 353.4mTWD 349.9m
Gross profitTWD 131.8mTWD 144.4mTWD 159.6mTWD 136.5mTWD 95.6mTWD 127.9mTWD 123.0mTWD 131.8m
Operating incomeTWD 53.1mTWD 35.4mTWD 58.6mTWD 60.4mTWD 11.1mTWD 28.5mTWD 23.6mTWD 8.8m
Net incomeTWD 31.9mTWD 15.8mTWD 34.2mTWD 37.2m−TWD 18.8m−TWD 11.6mTWD 30.6m−TWD 9.2m
Diluted earnings per share0.630.310.670.73-0.37-0.230.57-0.17
Cash from operations−TWD 122.0mTWD 102.0mTWD 29.0m−TWD 17.0m−TWD 54.0mTWD 28.0mTWD 70.0m−TWD 24.0m
Capital spending−TWD 11.0m−TWD 8.0m−TWD 11.0m−TWD 2.0m——−TWD 6.0m−TWD 5.0m
Free cash flow−TWD 133.0mTWD 94.0mTWD 18.0m−TWD 19.0m——TWD 64.0m−TWD 29.0m
Total assetsTWD 2.47bnTWD 2.24bnTWD 2.03bnTWD 1.96bnTWD 1.88bnTWD 2.05bnTWD 2.02bnTWD 1.90bn
Debt———TWD 1.7mTWD 4.2mTWD 6.7mTWD 9.2mTWD 11.7m
Shareholders' equityTWD 905.2mTWD 905.4mTWD 884.6mTWD 837.4mTWD 795.2mTWD 853.7mTWD 859.7mTWD 833.7m

Financial ratios

Data as of 21 Oct 2026

FY2025FY2024FY2023FY2022FY2021FY2020FY2019
Gross margin33.1%33.3%29.8%37.5%40.0%39.6%—
Operating margin8.4%8.5%6.8%9.6%11.3%14.5%—
Net margin2.6%2.2%1.9%4.2%8.2%6.4%—
Return on equity4.6%3.6%3.3%7.5%13.1%10.0%—
Return on assets2.0%1.5%1.4%3.1%5.7%4.6%—
Free cash flow yield—0.5%3.0%4.2%2.0%0.9%2.4%
Revenue growth13.9%-5.6%-3.2%15.4%9.1%1.5%—
Earnings growth33.2%10.5%-56.5%-40.4%40.5%42.7%—
Current ratio1.84x1.73x1.72x1.64x1.80x1.98x—
Debt to equity0.00x0.01x0.60x0.59x0.57x0.55x—
Equity ratio43.6%42.5%42.9%41.2%43.3%46.1%—
Interest coverage14.27x11.20x9.39x16.73x21.66x24.43x—
R&D as a share of sales6.2%7.1%5.7%6.2%6.5%5.7%—
Buybacks as a share of market value—-11.3%5.0%0.0%0.0%0.0%—

Growth per year

Compound annual rate

3 years5 years10 years
Revenue1.3%5.5%6.6%
Operating income-4.6%-6.4%3.6%
Net income-13.8%-11.7%-1.3%

Average margins

Over each period

1 year3 years5 years10 years
Gross margin33.2%33.4%35.3%36.5%
Operating margin6.3%7.2%8.9%8.6%
Net margin2.4%2.8%4.1%4.5%

Valuation history

At each fiscal year end

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Price to earnings90.486.144.617.413.014.516.621.315.814.8
Price to sales2.41.90.80.71.10.90.80.71.00.9

Dividends and splits

Per share, in the currency the company pays

Paid for 4 years. Last went ex-dividend on 11 Jul 2025.

FY2025FY2024FY2023FY2022
Paid in the year0.500.500.801.00

Sources and methodology

Data on this tab
Our data supplier
Chart on the Overview
TradingView

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