U 
United Recommend International Co 5321.TWO · TWD
Consumer Discretionary · Taipei Exchange · 🇹🇼 Taiwan
54.50
-2.33%
Close of 9 Nov 2026, in TWD
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At a glance
Figures in TWD, from our data supplier.
Revenue
TWD 2.84bn
FY2016FY2025
Net income
−TWD 14.4m
FY2016FY2025
Free cash flow
TWD 189.9m
FY2016FY2025
Shareholders' equity
TWD 758.0m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | TWD 2.84bn | TWD 3.38bn | TWD 3.26bn | TWD 3.17bn | TWD 2.72bn | TWD 2.08bn | TWD 1.37bn | TWD 1.02bn | TWD 791.3m | TWD 955.3m |
| Research and development | — | TWD 4.5m | TWD 12.6m | TWD 28.9m | TWD 25.3m | TWD 25.9m | TWD 24.5m | TWD 25.4m | TWD 24.2m | TWD 24.4m |
| Operating income | TWD 150.1m | TWD 148.7m | TWD 214.4m | TWD 329.4m | TWD 255.0m | −TWD 101.6m | TWD 86.1m | TWD 61.1m | TWD 12.8m | TWD 60.8m |
| Net income | −TWD 14.4m | TWD 1.6m | TWD 82.3m | TWD 184.9m | TWD 108.6m | −TWD 129.7m | TWD 43.9m | TWD 62.3m | −TWD 67.3m | TWD 45.3m |
| Diluted earnings per share | -0.29 | 0.03 | 1.66 | 4.60 | 3.11 | -3.71 | 0.89 | 1.26 | -1.36 | 1.11 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | TWD 5.01bn | TWD 4.54bn | TWD 4.02bn | TWD 3.53bn | TWD 3.14bn | TWD 2.82bn | TWD 2.46bn | TWD 1.17bn | TWD 735.1m | TWD 831.1m |
| Cash and short-term investments | — | — | TWD 663.6m | TWD 652.3m | TWD 630.9m | TWD 511.7m | — | — | — | TWD 86.4m |
| Total liabilities | TWD 4.17bn | TWD 3.66bn | TWD 3.15bn | TWD 2.59bn | TWD 2.39bn | TWD 2.24bn | TWD 4,000 | TWD 667.0m | TWD 434.7m | TWD 464.4m |
| Debt | TWD 831.4m | TWD 1.05bn | TWD 2.54bn | TWD 1.76bn | TWD 1.61bn | TWD 1.53bn | TWD 553.7m | TWD 242.3m | — | TWD 15.0m |
| Shareholders' equity | TWD 758.0m | TWD 772.7m | TWD 752.7m | TWD 693.3m | TWD 520.5m | TWD 413.3m | TWD 464.2m | TWD 351.7m | TWD 300.5m | TWD 366.7m |
| Shares outstanding | 49m | 49m | 50m | 40m | 35m | 35m | 49m | 49m | 49m | 41m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | TWD 429.8m | TWD 170.6m | TWD 277.9m | TWD 310.2m | TWD 316.8m | TWD 258.4m | TWD 132.5m | TWD 41.9m | TWD 47.3m | TWD 55.7m |
| Capital spending | −TWD 239.8m | −TWD 490.5m | −TWD 177.0m | −TWD 290.7m | −TWD 226.8m | −TWD 201.4m | −TWD 56.3m | −TWD 13.3m | −TWD 14.1m | −TWD 19.1m |
| Free cash flow | TWD 189.9m | −TWD 319.9m | TWD 100.8m | TWD 19.5m | TWD 89.9m | TWD 57.0m | TWD 76.2m | TWD 28.6m | TWD 33.2m | TWD 36.6m |
| Dividends paid | −TWD 18.2m | −TWD 41.7m | −TWD 76.5m | −TWD 68.9m | −TWD 15.9m | −TWD 9.7m | −TWD 15.9m | −TWD 15.9m | −TWD 61,000 | — |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | TWD 536.0m | TWD 568.7m | TWD 709.8m | TWD 704.2m | TWD 694.1m | TWD 734.1m | TWD 882.3m | TWD 903.0m |
| Operating income | −TWD 10.3m | −TWD 29.9m | TWD 19.7m | TWD 38.2m | TWD 37.2m | TWD 32.6m | TWD 47.9m | TWD 54.1m |
| Net income | −TWD 30.1m | −TWD 126.1m | −TWD 18.9m | TWD 149,000 | TWD 1.1m | TWD 3.3m | TWD 29.2m | TWD 10.7m |
| Diluted earnings per share | -0.61 | -2.55 | -0.38 | 0.00 | 0.02 | 0.07 | 0.59 | 0.22 |
| Cash from operations | TWD 34.0m | −TWD 42.0m | TWD 140.0m | TWD 189.0m | TWD 16.0m | TWD 82.0m | TWD 87.0m | TWD 61.0m |
| Capital spending | −TWD 27.0m | −TWD 4.0m | −TWD 25.0m | −TWD 64.0m | −TWD 92.0m | −TWD 57.0m | −TWD 128.0m | −TWD 99.0m |
| Free cash flow | TWD 7.0m | −TWD 46.0m | TWD 115.0m | TWD 125.0m | −TWD 76.0m | TWD 25.0m | −TWD 41.0m | −TWD 38.0m |
| Total assets | TWD 4.86bn | TWD 4.52bn | TWD 5.01bn | TWD 4.99bn | TWD 4.99bn | TWD 4.93bn | TWD 4.54bn | TWD 4.58bn |
| Debt | TWD 739.7m | TWD 784.6m | TWD 831.4m | TWD 880.2m | TWD 796.9m | TWD 840.3m | TWD 1.05bn | TWD 1.10bn |
| Shareholders' equity | TWD 796.9m | TWD 632.1m | TWD 758.0m | TWD 777.1m | TWD 776.9m | TWD 777.0m | TWD 772.7m | TWD 733.1m |
Financial ratios
Data as of 2 Nov 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Operating margin | 5.5% | 4.6% | 6.6% | 10.4% | 9.4% | -4.9% | — |
| Net margin | -0.5% | 0.0% | 2.5% | 5.8% | 4.0% | -6.2% | — |
| Return on equity | -1.9% | 0.2% | 10.9% | 26.7% | 20.9% | -31.4% | — |
| Return on assets | -0.3% | 0.0% | 2.0% | 5.2% | 3.5% | -4.6% | — |
| Free cash flow yield | — | 24.3% | 16.6% | 27.1% | 28.2% | 23.9% | — |
| Revenue growth | -16.0% | 3.6% | 2.9% | 16.5% | 31.1% | 52.0% | — |
| Earnings growth | -1002.9% | -98.1% | -55.5% | 70.3% | -183.7% | -395.5% | — |
| Current ratio | 0.77x | 0.88x | 0.91x | 0.88x | 0.93x | 0.95x | — |
| Debt to equity | 1.10x | 1.37x | 2.45x | 2.42x | 2.98x | 3.54x | — |
| Equity ratio | 15.1% | 17.0% | 18.7% | 19.6% | 16.6% | 14.7% | — |
| Interest coverage | 1.46x | 1.81x | 4.40x | 12.03x | 10.99x | -4.31x | — |
| R&D as a share of sales | — | 0.1% | 0.4% | 0.9% | 0.9% | 1.2% | 1.8% |
| Buybacks as a share of market value | — | 0.3% | -23.4% | -15.0% | 0.0% | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -3.6% | 6.5% | 9.8% |
| Operating income | -23.1% | — | 15.4% |
| Net income | — | -35.6% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 4.8% | 6.7% | 5.7% | 5.5% |
| Net margin | -0.2% | 2.0% | 1.3% | 1.5% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -124.4 | — | 50.1 | 10.4 | 22.9 | -5.6 | 28.9 | 22.5 | -9.7 | 16.8 |
| Price to sales | 0.6 | 0.9 | 1.3 | 0.6 | 0.9 | 0.3 | 0.9 | 1.4 | 0.8 | 0.8 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 10 Sept 2024.
| FY2024 | FY2023 | FY2022 | |
|---|---|---|---|
| Paid in the year | 0.25 | 0.651 | 0.378 |
- 1075-for-1000 split · 10 Sept 2024
- 1230-for-1000 split · 28 Aug 2023
- 1150-for-1000 split · 21 Sept 2022
- 1-to-0.32 reverse split · 11 Nov 2013
- 1-to-0.499242 reverse split · 9 Nov 2012
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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