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Chang Wah Technology Co 6548.TWO · TWD

Information Technology · Taipei Exchange · 🇹🇼 Taiwan

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63.50

+9.86%

Close of 9 Nov 2026, in TWD

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At a glance

Figures in TWD, from our data supplier.

FY2025

Revenue

TWD 13.43bn

FY2016FY2025

Net income

TWD 1.50bn

FY2016FY2025

Free cash flow

TWD 939.8m

FY2016FY2025

Shareholders' equity

TWD 11.03bn

FY2016FY2025

Income statement

Fiscal years

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
RevenueTWD 13.43bnTWD 11.99bnTWD 11.58bnTWD 14.43bnTWD 12.79bnTWD 9.68bnTWD 9.32bnTWD 9.78bnTWD 7.51bnTWD 456.2m
Research and developmentTWD 388.4mTWD 431.1mTWD 420.5mTWD 422.5mTWD 461.2mTWD 228.6mTWD 149.7mTWD 68.0mTWD 31.0mTWD 18.5m
Operating incomeTWD 1.68bnTWD 1.65bnTWD 1.97bnTWD 3.69bnTWD 2.29bnTWD 1.01bnTWD 930.1mTWD 1.10bnTWD 836.7mTWD 57.3m
Net incomeTWD 1.50bnTWD 1.90bnTWD 1.56bnTWD 2.82bnTWD 1.71bnTWD 773.8mTWD 607.3mTWD 842.5mTWD 431.1mTWD 45.0m
Diluted earnings per share1.632.021.663.001.872.191.722.401.420.20

Balance sheet

At each fiscal year end

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Total assetsTWD 22.85bnTWD 21.58bnTWD 19.97bnTWD 18.83bnTWD 14.84bnTWD 12.16bnTWD 10.54bnTWD 9.79bnTWD 9.10bnTWD 1.13bn
Cash and short-term investments——TWD 8.05bnTWD 7.04bnTWD 4.80bnTWD 3.72bnTWD 3.08bnTWD 2.30bnTWD 2.13bnTWD 549.5m
Total liabilitiesTWD 11.39bnTWD 9.88bnTWD 9.63bnTWD 8.66bnTWD 6.43bnTWD 6.74bnTWD 5.56bnTWD 4.62bnTWD 3.97bnTWD 163.1m
DebtTWD 5.44bnTWD 6.27bnTWD 6.16bnTWD 4.70bnTWD 3.34bnTWD 4.53bnTWD 3.29bnTWD 2.56bnTWD 2.19bn—
Shareholders' equityTWD 11.03bnTWD 11.24bnTWD 9.90bnTWD 9.77bnTWD 8.29bnTWD 5.33bnTWD 4.90bnTWD 5.10bnTWD 5.06bnTWD 965.8m
Shares outstanding923m940m943m938m919m354m354m352m303m231m

Cash flow

Fiscal years

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash from operationsTWD 1.88bnTWD 1.81bnTWD 2.76bnTWD 4.06bnTWD 1.65bnTWD 987.3mTWD 1.47bnTWD 1.45bnTWD 1.02bnTWD 107.7m
Capital spending−TWD 938.7m−TWD 356.6m−TWD 1.21bn−TWD 1.51bn−TWD 871.1m−TWD 667.7m−TWD 523.7m−TWD 808.0m−TWD 600.8m−TWD 63.8m
Free cash flowTWD 939.8mTWD 1.46bnTWD 1.55bnTWD 2.55bnTWD 783.3mTWD 319.6mTWD 942.5mTWD 647.0mTWD 419.7mTWD 43.9m
Dividends paid−TWD 1.24bn−TWD 1.53bn−TWD 1.78bn−TWD 888.5m−TWD 467.4m−TWD 438.0m−TWD 600.4m−TWD 417.0m−TWD 36.1m−TWD 66.0m

Latest quarters

By quarter end

Jun 2026Mar 2026Dec 2025Sept 2025Jun 2025Mar 2025Dec 2024Sept 2024
RevenueTWD 4.32bnTWD 3.67bnTWD 3.50bnTWD 3.50bnTWD 3.25bnTWD 3.18bnTWD 3.17bnTWD 3.13bn
Operating incomeTWD 632.9mTWD 507.6mTWD 456.9mTWD 449.9mTWD 364.7mTWD 410.2mTWD 431.3mTWD 468.3m
Net incomeTWD 655.7mTWD 469.0mTWD 470.0mTWD 514.4mTWD 101.7mTWD 417.1mTWD 526.2mTWD 424.6m
Diluted earnings per share0.710.510.510.560.110.440.560.45
Cash from operationsTWD 118.0mTWD 76.0mTWD 550.0m—TWD 382.0mTWD 572.0mTWD 547.0mTWD 217.0m
Capital spending−TWD 87.0m−TWD 263.0m−TWD 172.0m—−TWD 171.0m−TWD 97.0m−TWD 111.0m−TWD 57.0m
Free cash flowTWD 31.0m−TWD 187.0mTWD 378.0m—TWD 211.0mTWD 475.0mTWD 436.0mTWD 160.0m
Total assetsTWD 26.67bnTWD 23.94bnTWD 22.85bn—TWD 21.44bnTWD 21.73bnTWD 21.58bnTWD 22.17bn
DebtTWD 3.91bnTWD 5.73bnTWD 5.44bn—TWD 6.09bnTWD 5.31bnTWD 4.46bnTWD 4.15bn
Shareholders' equityTWD 12.95bnTWD 11.30bnTWD 11.03bn—TWD 9.68bnTWD 11.08bnTWD 11.24bnTWD 11.56bn

Financial ratios

Data as of 18 Sept 2026

FY2025FY2024FY2023FY2022FY2021FY2020FY2019
Operating margin12.5%13.8%17.0%25.6%17.9%10.4%—
Net margin11.2%15.8%13.5%19.5%13.4%8.0%—
Return on equity13.6%16.9%15.8%28.8%20.7%14.5%—
Return on assets6.6%8.8%7.8%15.0%11.6%6.4%—
Free cash flow yield—3.1%5.6%7.9%3.7%6.3%7.5%
Revenue growth12.0%3.5%-19.7%12.8%32.2%3.8%—
Earnings growth-20.7%21.2%-44.4%64.3%121.5%27.4%—
Current ratio2.73x2.82x1.98x2.16x2.33x2.31x—
Debt to equity0.49x0.40x0.61x0.47x0.40x0.84x—
Equity ratio48.2%52.1%49.6%51.9%55.8%43.8%—
Interest coverage12.78x14.69x21.13x77.99x52.76x25.05x—
R&D as a share of sales2.9%3.6%3.6%2.9%3.6%2.4%—
Buybacks as a share of market value—0.3%-0.5%-2.1%-159.7%0.0%-0.6%

Growth per year

Compound annual rate

3 years5 years10 years
Revenue-2.4%6.8%42.9%
Operating income-23.1%10.8%39.0%
Net income-18.9%14.2%38.4%

Average margins

Over each period

1 year3 years5 years10 years
Operating margin13.1%17.5%16.6%15.1%
Net margin13.4%15.1%13.9%12.1%

Valuation history

At each fiscal year end

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Price to earnings27.416.620.19.922.410.98.04.912.256.0
Price to sales3.12.62.71.93.00.90.50.40.75.5

Dividends and splits

Per share, in the currency the company pays

Paid for 4 years. Last went ex-dividend on 15 Oct 2026.

FY2026FY2025FY2024FY2023FY2022
Paid in the year0.9011.3581.682.0081.388
  • 2.5-for-1 split · 5 Sept 2022
  • 2.5-for-1 split · 25 Aug 2022
  • 10-for-1 split · 30 Aug 2019

Sources and methodology

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

Nothing here is investment advice. Prices can be delayed or wrong, so check with the exchange before relying on them. Data for this page. How we cover markets.