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Taiwan Cogeneration 8926.TW · TWD

Utilities · Taiwan Stock Exchange · 🇹🇼 Taiwan

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53.60

+3.28%

Close of 9 Nov 2026, in TWD

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At a glance

Figures in TWD, from our data supplier.

FY2025

Revenue

TWD 7.61bn

FY2016FY2025

Net income

TWD 1.79bn

FY2016FY2025

Free cash flow

TWD 2.24bn

FY2016FY2025

Shareholders' equity

TWD 15.78bn

FY2016FY2025

Income statement

Fiscal years

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
RevenueTWD 7.61bnTWD 9.13bnTWD 5.35bnTWD 4.67bnTWD 6.41bnTWD 9.31bnTWD 7.19bnTWD 3.81bnTWD 1.21bnTWD 1.18bn
Operating incomeTWD 596.3mTWD 435.9m−TWD 16.4mTWD 1.08bnTWD 1.07bnTWD 1.17bnTWD 1.14bnTWD 294.7mTWD 99.3mTWD 159.2m
Net incomeTWD 1.79bnTWD 1.35bnTWD 1.25bnTWD 906.8mTWD 897.9mTWD 1.07bnTWD 1.10bnTWD 672.3mTWD 971.9mTWD 949.0m
Diluted earnings per share2.461.821.711.381.531.831.881.151.641.62

Balance sheet

At each fiscal year end

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Total assetsTWD 30.79bnTWD 27.28bnTWD 26.16bnTWD 24.98bnTWD 24.05bnTWD 22.98bnTWD 20.43bnTWD 16.76bnTWD 15.25bnTWD 15.04bn
Cash and short-term investmentsTWD 2.58bnTWD 2.33bnTWD 2.66bnTWD 3.75bnTWD 2.77bnTWD 1.62bnTWD 987.1mTWD 1.13bnTWD 862.5mTWD 1.02bn
Total liabilitiesTWD 15.02bnTWD 11.90bnTWD 10.57bnTWD 13.13bnTWD 12.08bnTWD 10.79bnTWD 8.33bnTWD 4.89bnTWD 3.37bnTWD 3.37bn
DebtTWD 8.55bnTWD 5.56bnTWD 5.79bnTWD 8.12bnTWD 7.40bnTWD 5.81bnTWD 4.75bnTWD 3.53bnTWD 2.90bnTWD 2.81bn
Shareholders' equityTWD 15.78bnTWD 15.38bnTWD 15.45bnTWD 11.69bnTWD 11.83bnTWD 12.05bnTWD 11.97bnTWD 11.73bnTWD 11.86bnTWD 11.66bn
Shares outstanding728m741m730m656m586m583m584m586m591m584m

Cash flow

Fiscal years

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash from operationsTWD 3.01bnTWD 1.27bn−TWD 92.7mTWD 1.79bnTWD 1.77bnTWD 2.47bnTWD 413.5mTWD 577.4mTWD 783.0mTWD 923.2m
Capital spending−TWD 770.2m−TWD 372.5m−TWD 1.02bn−TWD 663.2m−TWD 589.6m−TWD 512.2m−TWD 706.7m−TWD 323.2m−TWD 170.8m−TWD 48.2m
Free cash flowTWD 2.24bnTWD 897.6m−TWD 1.12bnTWD 1.13bnTWD 1.18bnTWD 1.95bn−TWD 293.2mTWD 254.3mTWD 612.2mTWD 875.0m
Dividends paid−TWD 1.53bn−TWD 1.41bn−TWD 618.5m−TWD 1.03bn−TWD 1.12bn−TWD 1.00bn−TWD 883.6m−TWD 765.8m−TWD 706.9m−TWD 765.8m

Latest quarters

By quarter end

Jun 2026Mar 2026Dec 2025Sept 2025Jun 2025Mar 2025Dec 2024Sept 2024
RevenueTWD 20.47bnTWD 14.02bnTWD 1.97bnTWD 1.40bnTWD 2.28bnTWD 1.96bnTWD 2.58bnTWD 2.14bn
Operating incomeTWD 1.35bnTWD 1.16bnTWD 120.2mTWD 8.8mTWD 342.0mTWD 101.1mTWD 200.9mTWD 84.4m
Net incomeTWD 1.39bnTWD 1.54bnTWD 427.1mTWD 135.8mTWD 871.0mTWD 353.9mTWD 382.6mTWD 252.1m
Diluted earnings per share1.161.280.590.191.200.490.520.34
Cash from operations−TWD 3.09bnTWD 2.18bn−TWD 50.0mTWD 1.78bn−TWD 179.0mTWD 1.46bnTWD 402.0mTWD 815.0m
Capital spending−TWD 240.0m−TWD 168.0m−TWD 609.0m−TWD 29.0m−TWD 32.0m−TWD 103.0m−TWD 96.0m−TWD 91.0m
Free cash flow−TWD 3.33bnTWD 2.02bn−TWD 659.0mTWD 1.75bn−TWD 211.0mTWD 1.36bnTWD 306.0mTWD 724.0m
Total assets—TWD 79.20bnTWD 30.79bnTWD 30.54bnTWD 28.30bnTWD 27.38bnTWD 27.28bnTWD 26.61bn
Cash and short-term investments—TWD 12.11bnTWD 2.58bnTWD 3.29bnTWD 3.11bnTWD 3.18bnTWD 2.33bnTWD 2.11bn
Debt—TWD 36.58bnTWD 8.60bnTWD 8.60bnTWD 4.80bnTWD 4.63bnTWD 5.14bnTWD 5.22bn
Shareholders' equity—TWD 17.44bnTWD 15.78bnTWD 15.36bnTWD 15.05bnTWD 15.74bnTWD 15.38bnTWD 15.00bn

Financial ratios

Data as of 21 Sept 2026

FY2025FY2024FY2023FY2022FY2021FY2020
Operating margin7.8%4.8%26.2%23.2%16.6%12.6%
Net margin23.5%14.8%23.4%19.4%14.0%11.5%
Return on equity11.3%8.8%8.1%7.8%7.6%8.9%
Return on assets5.8%4.9%4.8%3.6%3.7%4.6%
Free cash flow yield8.7%3.7%2.1%6.3%6.8%8.6%
Revenue growth-16.7%70.7%14.6%-27.1%-31.2%29.6%
Earnings growth32.5%7.8%38.1%1.0%-16.0%-2.7%
Current ratio1.17x0.94x1.04x0.99x1.21x1.29x
Debt to equity0.54x0.33x0.35x0.66x0.59x0.47x
Equity ratio51.2%56.4%59.1%46.8%49.2%52.4%
Interest coverage4.76x5.93x15.10x12.53x15.91x23.91x
Buybacks as a share of market value1.8%-1.5%-11.4%-11.9%-0.4%0.1%

Growth per year

Compound annual rate

3 years5 years10 years
Revenue17.7%-4.0%17.3%
Operating income-18.0%-12.6%15.7%
Net income25.4%10.8%5.3%

Average margins

Over each period

1 year3 years5 years10 years
Operating margin6.2%7.8%10.2%10.7%
Net margin18.7%19.8%17.1%20.9%

Valuation history

At each fiscal year end

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Price to earnings16.622.923.522.123.319.915.020.615.412.9
Price to sales3.93.45.54.33.32.32.33.612.310.4

Dividends and splits

Per share, in the currency the company pays

Paid for 26 years. Last went ex-dividend on 2 Jul 2026.

FY2026FY2025FY2024FY2023FY2022FY2021FY2020FY2019
Paid in the year2.122.0381.8730.8711.5261.6571.4831.308
  • 1.06-for-1 split · 21 Jul 2023
  • 1.07-for-1 split · 25 Jul 2011
  • 1.04-for-1 split · 9 Aug 2010
  • 1.067-for-1 split · 16 Jul 2008
  • 21-for-20 split · 14 Aug 2007
  • 1.078-for-1 split · 5 Aug 2004

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.