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T

Topkey 4536.TW · TWD

Consumer Discretionary · Taiwan Stock Exchange · 🇹🇼 Taiwan

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148.50

+1.71%

Close of 9 Nov 2026, in TWD

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At a glance

Figures in TWD, from our data supplier.

FY2025

Revenue

TWD 9.20bn

FY2016FY2025

Net income

TWD 1.35bn

FY2016FY2025

Free cash flow

TWD 1.75bn

FY2016FY2025

Shareholders' equity

TWD 9.42bn

FY2016FY2025

Income statement

Fiscal years

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
RevenueTWD 9.20bnTWD 9.48bnTWD 9.27bnTWD 10.97bnTWD 8.69bnTWD 7.23bnTWD 7.22bnTWD 7.40bnTWD 6.32bnTWD 6.22bn
Gross profitTWD 3.25bnTWD 3.31bnTWD 3.03bnTWD 3.88bnTWD 2.65bnTWD 2.50bnTWD 2.39bnTWD 2.15bnTWD 1.71bnTWD 1.77bn
Research and developmentTWD 505.8mTWD 469.3mTWD 447.7mTWD 402.7mTWD 342.2mTWD 310.5mTWD 372.0mTWD 378.3mTWD 390.0mTWD 378.6m
Operating incomeTWD 1.72bnTWD 1.88bnTWD 1.70bnTWD 3.32bnTWD 1.25bnTWD 1.25bnTWD 1.43bnTWD 980.4mTWD 582.0mTWD 576.3m
Net incomeTWD 1.35bnTWD 1.71bnTWD 1.42bnTWD 2.26bnTWD 831.6mTWD 679.0mTWD 865.8mTWD 845.2mTWD 483.1mTWD 779.0m
Diluted earnings per share13.4318.8615.5824.717.737.489.549.315.338.57

Balance sheet

At each fiscal year end

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Total assetsTWD 13.99bnTWD 16.18bnTWD 13.73bnTWD 16.22bnTWD 11.25bnTWD 10.19bnTWD 9.86bnTWD 9.83bnTWD 9.32bnTWD 8.68bn
Cash and short-term investmentsTWD 5.50bnTWD 7.04bnTWD 5.51bnTWD 7.18bnTWD 4.54bnTWD 4.35bnTWD 4.12bnTWD 3.95bnTWD 3.55bnTWD 3.31bn
Total liabilitiesTWD 4.12bnTWD 6.57bnTWD 5.28bnTWD 8.09bnTWD 5.26bnTWD 4.60bnTWD 4.43bnTWD 4.57bnTWD 4.55bnTWD 3.58bn
DebtTWD 1.45bnTWD 3.80bnTWD 2.74bnTWD 5.23bnTWD 2.67bnTWD 2.63bnTWD 2.80bnTWD 3.00bnTWD 3.08bnTWD 2.14bn
Shareholders' equityTWD 9.42bnTWD 9.21bnTWD 8.03bnTWD 7.66bnTWD 5.66bnTWD 5.33bnTWD 5.26bnTWD 5.06bnTWD 4.55bnTWD 4.75bn
Shares outstanding101m91m91m91m108m91m91m91m91m91m

Cash flow

Fiscal years

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash from operationsTWD 2.21bnTWD 2.00bnTWD 3.52bnTWD 2.16bnTWD 977.7mTWD 1.27bnTWD 1.85bnTWD 1.07bnTWD 304.9mTWD 1.23bn
Capital spending−TWD 464.9m−TWD 728.9m−TWD 1.51bn−TWD 1.43bn−TWD 593.6m−TWD 407.0m−TWD 421.1m−TWD 304.6m−TWD 324.4m−TWD 419.5m
Free cash flowTWD 1.75bnTWD 1.27bnTWD 2.01bnTWD 726.4mTWD 384.0mTWD 860.8mTWD 1.43bnTWD 761.0m−TWD 19.5mTWD 813.9m
Dividends paid−TWD 999.0m−TWD 772.0m−TWD 999.0m−TWD 544.9m−TWD 454.1m−TWD 544.9m−TWD 499.5m−TWD 272.5m−TWD 544.9m−TWD 454.1m

Latest quarters

By quarter end

Jun 2026Mar 2026Dec 2025Sept 2025Jun 2025Mar 2025Dec 2024Sept 2024
RevenueTWD 2.55bnTWD 2.32bnTWD 1.87bnTWD 2.42bnTWD 2.51bnTWD 2.40bnTWD 2.66bnTWD 2.60bn
Gross profitTWD 799.0mTWD 794.9mTWD 610.1mTWD 840.4mTWD 954.6mTWD 844.5mTWD 953.7mTWD 883.0m
Operating incomeTWD 394.0mTWD 396.4mTWD 197.0mTWD 484.5mTWD 587.6mTWD 461.6mTWD 549.2mTWD 533.9m
Net incomeTWD 275.7mTWD 327.9mTWD 257.4mTWD 350.9mTWD 282.5mTWD 463.9mTWD 609.5mTWD 319.9m
Diluted earnings per share2.943.502.553.482.804.606.713.52
Cash from operations—TWD 248.0mTWD 532.0mTWD 407.0mTWD 548.0mTWD 720.0mTWD 883.0mTWD 110.0m
Capital spending—−TWD 77.0m−TWD 156.0m−TWD 91.0m−TWD 111.0m−TWD 105.0m−TWD 135.0m−TWD 146.0m
Free cash flow—TWD 171.0mTWD 376.0mTWD 316.0mTWD 437.0mTWD 615.0mTWD 748.0m−TWD 36.0m
Total assets—TWD 14.41bnTWD 13.99bnTWD 13.63bnTWD 15.15bnTWD 17.67bnTWD 16.18bnTWD 14.62bn
Cash and short-term investments—TWD 5.71bnTWD 5.50bnTWD 5.34bnTWD 6.85bnTWD 8.76bnTWD 7.04bnTWD 5.70bn
Debt—TWD 1.45bnTWD 1.46bnTWD 1.74bnTWD 2.51bnTWD 4.66bnTWD 3.58bnTWD 3.00bn
Shareholders' equity—TWD 9.14bnTWD 9.42bnTWD 9.02bnTWD 8.50bnTWD 8.73bnTWD 9.21bnTWD 8.54bn

Financial ratios

Data as of 1 Oct 2026

FY2025FY2024FY2023FY2022FY2021FY2020
Gross margin35.3%34.9%32.7%35.4%30.5%34.5%
Operating margin18.7%19.8%18.4%30.3%14.3%17.3%
Net margin14.7%18.1%15.3%20.6%9.6%9.4%
Return on equity14.4%18.6%17.6%29.5%14.7%12.7%
Return on assets9.7%10.6%10.3%13.9%7.4%6.7%
Free cash flow yield16.4%18.5%34.1%24.2%9.0%11.4%
Revenue growth-2.9%2.3%-15.5%26.2%20.1%0.1%
Earnings growth-20.9%21.0%-37.4%171.8%22.5%-21.6%
Current ratio3.40x2.22x2.26x1.74x2.09x1.96x
Debt to equity0.15x0.39x0.31x0.65x0.40x0.42x
Equity ratio67.4%56.9%58.5%47.2%50.3%52.3%
Interest coverage25.63x27.22x18.04x31.84x47.27x29.57x
R&D as a share of sales5.5%5.0%4.8%3.7%3.9%4.3%
Buybacks as a share of market value-11.0%0.0%0.7%15.0%-18.5%-0.0%

Growth per year

Compound annual rate

3 years5 years10 years
Revenue-5.7%4.9%3.3%
Operating income-19.7%6.6%12.5%
Net income-15.7%14.8%8.3%

Average margins

Over each period

1 year3 years5 years10 years
Gross margin35.1%34.6%34.0%32.0%
Operating margin19.3%22.2%20.3%17.2%
Net margin16.4%17.3%15.1%13.4%

Valuation history

At each fiscal year end

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Price to earnings12.010.811.57.419.420.914.611.416.811.7
Price to sales1.82.01.81.51.92.01.81.31.31.5

Dividends and splits

Per share, in the currency the company pays

Paid for 14 years. Last went ex-dividend on 16 Jul 2026.

FY2026FY2025FY2024FY2023FY2022FY2021FY2020FY2019
Paid in the year8.0011.008.5011.006.005.006.005.50

Sources and methodology

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

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