A 
Asia Electronic Material Co 4939.TWO · TWD
Information Technology · Taipei Exchange · 🇹🇼 Taiwan
58.80
+8.89%
Close of 9 Nov 2026, in TWD
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At a glance
Figures in TWD, from our data supplier.
Revenue
TWD 1.42bn
FY2016FY2025
Net income
−TWD 42.3m
FY2016FY2025
Free cash flow
−TWD 26.6m
FY2016FY2025
Shareholders' equity
TWD 1.35bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | TWD 1.42bn | TWD 1.54bn | TWD 1.55bn | TWD 1.65bn | TWD 1.96bn | TWD 1.74bn | TWD 1.88bn | TWD 1.95bn | TWD 1.60bn | TWD 1.43bn |
| Gross profit | TWD 307.1m | TWD 325.7m | TWD 339.0m | TWD 360.5m | TWD 543.8m | TWD 469.1m | TWD 381.1m | TWD 473.1m | TWD 354.1m | TWD 270.4m |
| Research and development | TWD 82.1m | TWD 87.5m | TWD 77.4m | TWD 71.1m | TWD 84.0m | TWD 73.6m | TWD 74.6m | TWD 79.9m | TWD 68.5m | TWD 64.3m |
| Operating income | TWD 37.5m | TWD 48.0m | TWD 79.6m | TWD 67.5m | TWD 271.0m | TWD 246.8m | TWD 73.0m | TWD 202.5m | TWD 122.3m | TWD 63.0m |
| Net income | −TWD 42.3m | TWD 19.1m | TWD 36.3m | TWD 34.4m | TWD 173.1m | TWD 158.4m | TWD 35.6m | TWD 111.7m | TWD 118.7m | TWD 12.8m |
| Diluted earnings per share | -0.40 | 0.18 | 0.37 | 0.35 | 1.76 | 1.61 | 0.34 | 1.06 | 1.12 | 0.13 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | TWD 2.66bn | TWD 2.78bn | TWD 2.64bn | TWD 2.87bn | TWD 3.04bn | TWD 2.88bn | TWD 2.64bn | TWD 2.64bn | TWD 2.15bn | TWD 1.97bn |
| Cash and short-term investments | — | — | TWD 449.0m | TWD 736.0m | TWD 704.0m | TWD 566.3m | — | — | — | TWD 198.4m |
| Total liabilities | TWD 1.31bn | TWD 1.23bn | TWD 1.13bn | TWD 1.33bn | TWD 1.43bn | TWD 1.31bn | TWD 1.23bn | TWD 1.13bn | TWD 826.6m | TWD 741.8m |
| Debt | TWD 150.0m | — | TWD 666.2m | TWD 859.8m | TWD 870.4m | TWD 753.0m | TWD 137.0m | TWD 29.0m | — | TWD 433.4m |
| Shareholders' equity | TWD 1.35bn | TWD 1.55bn | TWD 1.52bn | TWD 1.54bn | TWD 1.61bn | TWD 1.57bn | TWD 1.41bn | TWD 1.51bn | TWD 1.32bn | TWD 1.22bn |
| Shares outstanding | 106m | 106m | 98m | 98m | 98m | 98m | 106m | 106m | 106m | 98m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | TWD 76.4m | TWD 49.5m | TWD 30.4m | TWD 282.2m | TWD 253.9m | TWD 243.3m | TWD 236.2m | −TWD 643,000 | TWD 274.2m | TWD 210.6m |
| Capital spending | −TWD 103.0m | −TWD 50.9m | −TWD 56.6m | −TWD 142.9m | −TWD 121.6m | −TWD 139.5m | −TWD 262.4m | −TWD 71.9m | −TWD 26.9m | −TWD 18.2m |
| Free cash flow | −TWD 26.6m | −TWD 1.4m | −TWD 26.2m | TWD 139.3m | TWD 132.3m | TWD 103.8m | −TWD 26.2m | −TWD 72.6m | TWD 247.3m | TWD 192.4m |
| Dividends paid | −TWD 49.1m | −TWD 49.1m | −TWD 47.1m | −TWD 137.5m | −TWD 122.8m | −TWD 24.6m | −TWD 49.1m | −TWD 49.1m | −TWD 49.1m | — |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | TWD 434.8m | TWD 314.4m | TWD 352.6m | TWD 377.1m | TWD 352.5m | TWD 335.3m | TWD 374.3m | TWD 409.7m |
| Gross profit | TWD 114.8m | TWD 89.9m | TWD 77.3m | TWD 87.1m | TWD 63.5m | TWD 79.3m | TWD 61.0m | TWD 91.4m |
| Operating income | — | — | — | — | −TWD 6.2m | — | −TWD 6.6m | TWD 20.3m |
| Net income | TWD 28.5m | TWD 23.9m | TWD 9.7m | TWD 22.7m | −TWD 80.5m | TWD 5.7m | −TWD 9.4m | TWD 11.1m |
| Diluted earnings per share | 0.27 | 0.23 | 0.09 | 0.22 | -0.76 | 0.05 | -0.09 | 0.11 |
| Cash from operations | −TWD 37.0m | −TWD 71.0m | TWD 74.0m | −TWD 23.0m | TWD 33.0m | −TWD 9.0m | TWD 77.0m | −TWD 25.0m |
| Capital spending | −TWD 26.0m | −TWD 31.0m | −TWD 30.0m | −TWD 20.0m | −TWD 24.0m | −TWD 27.0m | −TWD 6.0m | −TWD 5.0m |
| Free cash flow | −TWD 63.0m | −TWD 102.0m | TWD 44.0m | −TWD 43.0m | TWD 9.0m | −TWD 36.0m | TWD 71.0m | −TWD 30.0m |
| Total assets | TWD 3.03bn | TWD 2.88bn | TWD 2.66bn | TWD 2.52bn | TWD 2.54bn | TWD 3.15bn | TWD 2.78bn | TWD 2.77bn |
| Debt | — | TWD 150.0m | TWD 150.0m | TWD 150.0m | TWD 150.0m | — | — | — |
| Shareholders' equity | TWD 1.52bn | TWD 1.43bn | TWD 1.35bn | TWD 1.29bn | TWD 1.21bn | TWD 1.58bn | TWD 1.55bn | TWD 1.55bn |
Financial ratios
Data as of 23 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 21.7% | 21.1% | 21.9% | 21.9% | 27.8% | 26.9% |
| Operating margin | -1.3% | 3.7% | 5.1% | 4.1% | 13.8% | 14.2% |
| Net margin | -3.0% | 1.2% | 2.3% | 2.1% | 8.8% | 9.1% |
| Return on equity | -3.1% | 1.2% | 2.4% | 2.2% | 10.7% | 10.1% |
| Return on assets | -1.6% | 0.7% | 1.4% | 1.2% | 5.7% | 5.5% |
| Free cash flow yield | — | 1.3% | 1.2% | 6.0% | 5.3% | 5.4% |
| Revenue growth | -8.1% | -0.4% | -6.0% | -15.8% | 12.3% | -7.4% |
| Earnings growth | -321.9% | -47.5% | 5.5% | -80.1% | 9.3% | 345.0% |
| Current ratio | 1.69x | 1.72x | 2.03x | 1.65x | 1.88x | 1.76x |
| Debt to equity | 0.11x | 0.00x | 0.44x | 0.55x | 0.54x | 0.48x |
| Equity ratio | 50.8% | 55.8% | 57.4% | 53.7% | 53.0% | 54.7% |
| Interest coverage | -0.62x | 2.23x | 2.74x | 3.75x | 21.93x | 12.26x |
| R&D as a share of sales | 5.8% | 5.7% | 5.0% | 4.3% | 4.3% | 4.2% |
| Buybacks as a share of market value | — | -7.4% | -0.2% | 0.0% | 0.0% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -4.9% | -4.1% | -0.9% |
| Operating income | -17.8% | -31.4% | — |
| Net income | — | — | -13.5% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 21.4% | 21.6% | 23.8% | 22.3% |
| Operating margin | 2.9% | 3.8% | 7.6% | 6.0% |
| Net margin | -0.8% | 0.8% | 3.8% | 2.6% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -91.8 | 113.5 | 58.1 | 42.1 | 13.2 | 13.5 | 52.7 | 17.4 | 18.1 | 66.5 |
| Price to sales | 2.7 | 1.4 | 1.4 | 0.9 | 1.2 | 1.2 | 1.0 | 1.0 | 1.3 | 0.6 |
Dividends and splits
Per share, in the currency the company pays
Paid for 4 years. Last went ex-dividend on 10 Jun 2025.
| FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|
| Paid in the year | 0.50 | 0.50 | 0.48 | 1.40 |
- 1029.833-for-1000 split · 24 Jul 2014
- 1.035-for-1 split · 15 Aug 2013
- 1.168-for-1 split · 19 Jun 2012
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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