M 
Materials Analysis Technology 3587.TWO · TWD
Information Technology · Taipei Exchange · 🇹🇼 Taiwan
193.00
+9.97%
Close of 9 Nov 2026, in TWD
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At a glance
Figures in TWD, from our data supplier.
Revenue
TWD 5.55bn
FY2016FY2025
Net income
TWD 407.1m
FY2016FY2025
Free cash flow
TWD 746.0m
FY2016FY2025
Shareholders' equity
TWD 4.87bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | TWD 5.55bn | TWD 5.11bn | TWD 4.81bn | TWD 3.97bn | TWD 3.36bn | TWD 3.06bn | TWD 2.54bn | TWD 2.08bn | TWD 1.70bn | TWD 1.46bn |
| Gross profit | TWD 1.58bn | TWD 1.68bn | TWD 1.70bn | TWD 1.47bn | TWD 1.21bn | TWD 907.0m | TWD 686.6m | TWD 644.4m | TWD 546.1m | TWD 555.7m |
| Research and development | TWD 235.2m | TWD 289.7m | TWD 265.9m | TWD 223.5m | TWD 124.6m | TWD 87.1m | TWD 21.4m | TWD 16.2m | TWD 13.5m | TWD 17.7m |
| Operating income | TWD 637.5m | TWD 766.3m | TWD 906.7m | TWD 820.6m | TWD 706.9m | TWD 486.5m | TWD 321.3m | TWD 322.6m | TWD 275.1m | TWD 317.6m |
| Net income | TWD 407.1m | TWD 688.1m | TWD 686.2m | TWD 627.5m | TWD 586.5m | TWD 385.1m | TWD 245.9m | TWD 256.5m | TWD 214.8m | TWD 230.4m |
| Diluted earnings per share | 6.07 | 9.99 | 10.44 | 9.81 | 9.52 | 6.18 | 3.97 | 4.10 | 4.02 | 4.94 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | TWD 8.81bn | TWD 8.51bn | TWD 7.50bn | TWD 6.90bn | TWD 5.31bn | TWD 4.41bn | TWD 4.28bn | TWD 3.71bn | TWD 3.30bn | TWD 2.44bn |
| Cash and short-term investments | — | — | TWD 2.13bn | TWD 1.65bn | TWD 1.69bn | TWD 1.20bn | TWD 1.12bn | TWD 1.18bn | TWD 997.4m | TWD 686.6m |
| Total liabilities | TWD 3.94bn | TWD 3.67bn | TWD 3.00bn | TWD 3.34bn | TWD 2.04bn | TWD 1.47bn | TWD 1.55bn | TWD 1.01bn | TWD 680.1m | TWD 597.9m |
| Debt | TWD 930.8m | TWD 2.32bn | TWD 1.81bn | TWD 2.08bn | TWD 1.21bn | TWD 830.0m | TWD 961.6m | TWD 448.4m | TWD 251.0m | TWD 197.2m |
| Shareholders' equity | TWD 4.87bn | TWD 4.84bn | TWD 4.49bn | TWD 3.54bn | TWD 3.26bn | TWD 2.95bn | TWD 2.72bn | TWD 2.71bn | TWD 2.62bn | TWD 1.84bn |
| Shares outstanding | 67m | 69m | 66m | 64m | 62m | 62m | 62m | 63m | 53m | 47m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | TWD 1.84bn | TWD 1.80bn | TWD 1.84bn | TWD 1.30bn | TWD 1.52bn | TWD 1.10bn | TWD 616.7m | TWD 680.4m | TWD 484.6m | TWD 493.2m |
| Capital spending | −TWD 1.09bn | −TWD 1.81bn | −TWD 1.24bn | −TWD 1.84bn | −TWD 993.8m | −TWD 619.4m | −TWD 827.1m | −TWD 547.0m | −TWD 784.4m | −TWD 546.3m |
| Free cash flow | TWD 746.0m | −TWD 10.7m | TWD 602.5m | −TWD 537.7m | TWD 522.4m | TWD 485.0m | −TWD 210.4m | TWD 133.5m | −TWD 299.8m | −TWD 53.1m |
| Dividends paid | −TWD 465.2m | −TWD 591.7m | −TWD 498.5m | −TWD 311.6m | −TWD 280.4m | −TWD 186.9m | −TWD 186.9m | −TWD 155.8m | −TWD 186.6m | −TWD 137.1m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | TWD 1.64bn | TWD 1.42bn | TWD 1.47bn | TWD 1.46bn | TWD 1.37bn | TWD 1.24bn | TWD 1.29bn | TWD 1.34bn |
| Gross profit | TWD 556.3m | TWD 440.0m | TWD 442.0m | TWD 458.0m | TWD 380.5m | TWD 300.6m | TWD 705.9m | TWD 488.6m |
| Operating income | — | TWD 210.0m | TWD 185.3m | TWD 215.2m | TWD 146.2m | TWD 90.8m | TWD 105.6m | — |
| Net income | TWD 56.7m | TWD 150.0m | TWD 123.1m | TWD 141.7m | TWD 91.9m | TWD 50.4m | TWD 140.1m | TWD 190.6m |
| Diluted earnings per share | 0.79 | 2.22 | 1.83 | 2.11 | 1.37 | 0.76 | 2.04 | 2.77 |
| Cash from operations | — | TWD 509.0m | TWD 543.0m | TWD 379.0m | TWD 545.0m | TWD 367.0m | TWD 620.0m | TWD 316.0m |
| Capital spending | — | −TWD 69.0m | −TWD 108.0m | −TWD 182.0m | −TWD 266.0m | −TWD 532.0m | −TWD 297.0m | −TWD 617.0m |
| Free cash flow | — | TWD 440.0m | TWD 435.0m | TWD 197.0m | TWD 279.0m | −TWD 165.0m | TWD 323.0m | −TWD 301.0m |
| Total assets | TWD 9.79bn | TWD 9.50bn | TWD 8.81bn | TWD 8.32bn | TWD 8.25bn | TWD 8.60bn | TWD 8.51bn | TWD 8.33bn |
| Debt | TWD 1.20bn | TWD 1.37bn | TWD 930.8m | TWD 1.08bn | TWD 528.1m | TWD 1.09bn | TWD 968.5m | TWD 953.4m |
| Shareholders' equity | TWD 5.94bn | TWD 5.12bn | TWD 4.87bn | TWD 4.56bn | TWD 4.26bn | TWD 4.52bn | TWD 4.84bn | TWD 4.75bn |
Financial ratios
Data as of 1 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Gross margin | 54.9% | 32.9% | 35.3% | 36.9% | 35.9% | 29.6% | — |
| Operating margin | 11.5% | 15.0% | 18.9% | 20.6% | 21.0% | 15.9% | — |
| Net margin | 7.3% | 13.5% | 14.3% | 15.8% | 17.5% | 12.6% | — |
| Return on equity | 8.4% | 14.2% | 15.3% | 17.7% | 18.0% | 13.1% | — |
| Return on assets | 4.6% | 8.1% | 9.2% | 9.1% | 11.0% | 8.7% | — |
| Free cash flow yield | — | 21.8% | 19.5% | 20.3% | 16.9% | 11.5% | 9.7% |
| Revenue growth | 8.5% | 6.3% | 21.0% | 18.2% | 9.8% | 20.5% | — |
| Earnings growth | -40.8% | 0.3% | 9.4% | 7.0% | 52.3% | 56.6% | — |
| Current ratio | 1.66x | 1.55x | 1.95x | 1.79x | 2.77x | 2.98x | — |
| Debt to equity | 0.19x | 0.20x | 0.36x | 0.54x | 0.32x | 0.23x | — |
| Equity ratio | 55.3% | 56.9% | 60.0% | 51.3% | 61.4% | 66.7% | — |
| Interest coverage | 12.28x | 19.05x | 26.56x | 33.97x | 49.22x | 31.23x | — |
| R&D as a share of sales | 4.2% | 5.7% | 5.5% | 5.6% | 3.7% | 2.8% | — |
| Buybacks as a share of market value | — | -4.7% | -2.8% | -3.8% | 1.2% | -0.5% | 0.9% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 11.7% | 12.6% | 17.3% |
| Operating income | -8.1% | 5.6% | 10.4% |
| Net income | -13.4% | 1.1% | 8.7% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 30.6% | 33.1% | 33.0% | 32.8% |
| Operating margin | 13.2% | 16.1% | 16.7% | 16.7% |
| Net margin | 10.3% | 12.4% | 13.1% | 13.0% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 30.6 | 24.8 | 22.3 | 15.3 | 16.3 | 13.6 | 20.3 | 14.0 | 19.9 | 16.3 |
| Price to sales | 2.2 | 3.3 | 3.2 | 2.4 | 2.8 | 1.7 | 2.0 | 1.7 | 2.5 | 2.6 |
Dividends and splits
Per share, in the currency the company pays
Paid for 4 years. Last went ex-dividend on 27 Jul 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Paid in the year | 4.208 | 6.939 | 8.927 | 7.955 | 4.925 |
- 1.05837-for-1 split · 15 Aug 2011
- 106.373-for-100 split · 24 Sept 2009
- 111.2-for-100 split · 5 Aug 2008
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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