K 
Kuen Ling Refrigerating Machinery Co 4527.TWO · TWD
Industrials · Taipei Exchange · 🇹🇼 Taiwan
43.75
-0.23%
Close of 9 Nov 2026, in TWD
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At a glance
Figures in TWD, from our data supplier.
Revenue
TWD 3.07bn
FY2016FY2025
Net income
TWD 258.6m
FY2016FY2025
Free cash flow
TWD 393.5m
FY2016FY2025
Shareholders' equity
TWD 1.80bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | TWD 3.07bn | TWD 3.65bn | TWD 3.48bn | TWD 3.03bn | TWD 2.53bn | TWD 2.61bn | TWD 2.68bn | TWD 2.98bn | TWD 2.69bn | TWD 2.58bn |
| Gross profit | TWD 807.6m | TWD 907.8m | TWD 840.6m | TWD 704.7m | TWD 671.5m | TWD 683.0m | TWD 701.9m | TWD 695.0m | TWD 671.1m | TWD 680.9m |
| Research and development | TWD 64.7m | TWD 70.0m | TWD 68.9m | TWD 79.7m | TWD 69.0m | TWD 59.9m | TWD 64.6m | TWD 44.1m | TWD 45.8m | TWD 43.1m |
| Operating income | TWD 355.3m | TWD 417.6m | TWD 362.9m | TWD 258.3m | TWD 175.7m | TWD 241.0m | TWD 195.3m | TWD 280.8m | TWD 244.9m | TWD 281.4m |
| Net income | TWD 258.6m | TWD 319.5m | TWD 258.4m | TWD 204.0m | TWD 150.8m | TWD 207.0m | TWD 163.3m | TWD 213.9m | TWD 190.5m | TWD 229.0m |
| Diluted earnings per share | 3.40 | 4.20 | 3.39 | 2.68 | 1.98 | 2.72 | 2.14 | 2.73 | 2.50 | 3.01 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | TWD 3.38bn | TWD 3.48bn | TWD 3.65bn | TWD 3.19bn | TWD 2.87bn | TWD 2.73bn | TWD 2.62bn | TWD 2.59bn | TWD 2.39bn | TWD 2.40bn |
| Total liabilities | TWD 1.49bn | TWD 1.57bn | TWD 1.91bn | TWD 1.56bn | TWD 1.34bn | TWD 1.19bn | TWD 1.17bn | TWD 1.12bn | TWD 969.7m | TWD 981.2m |
| Debt | TWD 70.0m | — | TWD 3.7m | TWD 28.7m | TWD 56.3m | TWD 86.5m | TWD 255.3m | TWD 266.4m | TWD 222.8m | TWD 264.8m |
| Shareholders' equity | TWD 1.80bn | TWD 1.80bn | TWD 1.63bn | TWD 1.54bn | TWD 1.43bn | TWD 1.44bn | TWD 1.36bn | TWD 1.37bn | TWD 1.32bn | TWD 1.32bn |
| Shares outstanding | 76m | 76m | 76m | 76m | 76m | 76m | 76m | 78m | 76m | 76m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | TWD 435.3m | TWD 576.8m | TWD 410.1m | TWD 85.5m | TWD 63.0m | TWD 395.4m | TWD 151.8m | TWD 319.6m | TWD 229.9m | TWD 300.2m |
| Capital spending | −TWD 41.9m | −TWD 83.3m | −TWD 98.4m | −TWD 69.7m | −TWD 56.2m | −TWD 95.7m | −TWD 83.8m | −TWD 64.1m | −TWD 69.3m | −TWD 32.7m |
| Free cash flow | TWD 393.5m | TWD 493.4m | TWD 311.7m | TWD 15.7m | TWD 6.8m | TWD 299.7m | TWD 68.0m | TWD 255.6m | TWD 160.6m | TWD 267.5m |
| Dividends paid | −TWD 243.7m | −TWD 182.8m | −TWD 152.3m | −TWD 137.1m | −TWD 152.3m | −TWD 121.8m | −TWD 152.3m | −TWD 152.3m | −TWD 167.5m | −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 750.0m | TWD 572.1m | TWD 1.12bn | TWD 659.4m | TWD 683.5m | TWD 606.0m | TWD 1.07bn | TWD 945.9m |
| Gross profit | TWD 193.9m | TWD 148.9m | TWD 332.9m | TWD 166.9m | TWD 157.0m | TWD 150.7m | TWD 278.1m | TWD 232.6m |
| Operating income | TWD 75.4m | — | TWD 200.4m | TWD 63.0m | TWD 48.1m | TWD 43.8m | TWD 148.1m | TWD 101.2m |
| Net income | TWD 76.3m | TWD 49.3m | TWD 156.3m | TWD 46.4m | TWD 17.8m | TWD 38.1m | TWD 102.2m | TWD 82.3m |
| Diluted earnings per share | 1.00 | 0.65 | 2.05 | 0.61 | 0.23 | 0.50 | 1.34 | 1.08 |
| Cash from operations | −TWD 43.0m | TWD 328.0m | TWD 216.0m | TWD 100.0m | −TWD 15.0m | TWD 134.0m | TWD 228.0m | TWD 353.0m |
| Capital spending | −TWD 18.0m | −TWD 21.0m | −TWD 4.0m | −TWD 15.0m | −TWD 9.0m | −TWD 11.0m | −TWD 20.0m | −TWD 35.0m |
| Free cash flow | −TWD 61.0m | TWD 307.0m | TWD 212.0m | TWD 85.0m | −TWD 24.0m | TWD 123.0m | TWD 208.0m | TWD 318.0m |
| Total assets | TWD 3.10bn | TWD 3.31bn | TWD 3.38bn | TWD 3.07bn | TWD 2.90bn | TWD 3.25bn | TWD 3.48bn | TWD 3.44bn |
| Debt | TWD 60.0m | TWD 65.0m | TWD 70.0m | TWD 75.0m | TWD 80.0m | — | — | — |
| Shareholders' equity | TWD 1.71bn | TWD 1.63bn | TWD 1.80bn | TWD 1.61bn | TWD 1.55bn | TWD 1.60bn | TWD 1.80bn | TWD 1.69bn |
Financial ratios
Data as of 24 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Gross margin | 26.3% | 24.9% | 24.2% | 23.2% | 23.7% | 26.2% | — |
| Operating margin | 10.7% | 11.4% | 10.6% | 8.6% | 6.9% | 9.2% | — |
| Net margin | 8.4% | 8.8% | 7.4% | 6.7% | 6.0% | 7.9% | — |
| Return on equity | 14.4% | 17.8% | 15.9% | 13.3% | 10.5% | 14.4% | — |
| Return on assets | 7.7% | 9.2% | 7.1% | 6.4% | 5.3% | 7.6% | — |
| Free cash flow yield | — | 19.3% | 14.9% | 4.5% | 3.5% | 14.4% | 6.9% |
| Revenue growth | -15.9% | 5.0% | 14.6% | 19.7% | -2.8% | -2.6% | — |
| Earnings growth | -19.1% | 23.7% | 26.6% | 35.3% | -27.1% | 26.8% | — |
| Current ratio | 2.04x | 1.91x | 1.66x | 1.77x | 1.95x | 2.21x | — |
| Debt to equity | 0.04x | 0.00x | 0.00x | 0.02x | 0.04x | 0.06x | — |
| Equity ratio | 53.1% | 51.6% | 44.6% | 48.1% | 49.9% | 52.7% | — |
| Interest coverage | 46.14x | 46.03x | 41.60x | 31.16x | 29.33x | 29.69x | — |
| R&D as a share of sales | 2.1% | 1.9% | 2.0% | 2.6% | 2.7% | 2.3% | — |
| Buybacks as a share of market value | — | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 2.9% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 0.4% | 3.3% | 2.2% |
| Operating income | 11.2% | 8.1% | 4.1% |
| Net income | 8.2% | 4.5% | 3.4% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 25.5% | 24.7% | 25.1% | 25.1% |
| Operating margin | 11.5% | 10.5% | 9.9% | 9.6% |
| Net margin | 8.6% | 7.9% | 7.6% | 7.5% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 12.9 | 12.0 | 11.8 | 11.8 | 15.4 | 11.3 | 12.6 | 12.5 | 13.6 | 10.5 |
| Price to sales | 1.1 | 1.1 | 0.9 | 0.8 | 0.9 | 0.9 | 0.8 | 0.9 | 1.0 | 0.9 |
Dividends and splits
Per share, in the currency the company pays
Paid for 4 years. Last went ex-dividend on 28 May 2025.
| FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|
| Paid in the year | 3.556 | 2.667 | 2.222 | 2.00 |
- 1.04923-for-1 split · 23 Aug 2012
- 1.02-for-1 split · 14 Jul 2011
- 105-for-100 split · 3 Aug 2009
- 109-for-100 split · 7 Aug 2008
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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