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T

Ta-Yuan Cogeneration Co 8931.TWO · TWD

Utilities · Taipei Exchange · 🇹🇼 Taiwan

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42.00

+1.69%

Close of 9 Nov 2026, in TWD

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At a glance

Figures in TWD, from our data supplier.

FY2025

Revenue

TWD 2.47bn

FY2016FY2025

Net income

TWD 228.7m

FY2016FY2025

Free cash flow

−TWD 27.1m

FY2016FY2025

Shareholders' equity

TWD 2.03bn

FY2016FY2025

Income statement

Fiscal years

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
RevenueTWD 2.47bnTWD 2.52bnTWD 2.72bnTWD 2.86bnTWD 2.00bnTWD 1.84bnTWD 1.63bnTWD 1.78bnTWD 1.63bnTWD 1.31bn
Gross profitTWD 413.1mTWD 551.1mTWD 536.9mTWD 602.0mTWD 363.8mTWD 383.9mTWD 296.7mTWD 292.4mTWD 244.8mTWD 234.8m
Research and developmentTWD 22.4mTWD 25.3mTWD 22.0mTWD 17.4mTWD 13.6mTWD 5.0mTWD 6.0mTWD 7.1mTWD 7.4mTWD 9.1m
Operating incomeTWD 269.8mTWD 379.6mTWD 384.1mTWD 468.0mTWD 229.4mTWD 219.7mTWD 181.4mTWD 173.1mTWD 137.5mTWD 120.0m
Net incomeTWD 228.7mTWD 283.8mTWD 283.3mTWD 368.1mTWD 170.4mTWD 182.2mTWD 146.8mTWD 138.6mTWD 115.3mTWD 92.7m
Diluted earnings per share1.872.322.313.011.391.491.201.130.940.76

Balance sheet

At each fiscal year end

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Total assetsTWD 5.12bnTWD 4.93bnTWD 4.57bnTWD 4.46bnTWD 4.42bnTWD 4.34bnTWD 3.80bnTWD 3.14bnTWD 2.91bnTWD 2.89bn
Cash and short-term investments——TWD 313.4mTWD 348.8mTWD 520.3mTWD 614.1m———TWD 480.2m
Total liabilitiesTWD 3.10bnTWD 2.87bnTWD 2.40bnTWD 2.28bnTWD 2.37bnTWD 2.35bnTWD 1.98bnTWD 1.38bnTWD 1.10bnTWD 1.22bn
DebtTWD 2.06bnTWD 2.49bnTWD 2.06bnTWD 1.93bnTWD 2.11bnTWD 2.11bnTWD 1.69bnTWD 1.15bnTWD 896.0mTWD 1.04bn
Shareholders' equityTWD 2.03bnTWD 2.06bnTWD 2.17bnTWD 2.18bnTWD 2.04bnTWD 1.99bnTWD 1.82bnTWD 1.76bnTWD 1.81bnTWD 1.68bn
Shares outstanding122m122m122m122m122m122m122m122m122m122m

Cash flow

Fiscal years

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash from operationsTWD 679.0mTWD 479.2mTWD 713.9mTWD 541.8mTWD 216.8mTWD 496.3mTWD 102.6mTWD 285.2mTWD 293.3mTWD 83.5m
Capital spending−TWD 706.1m−TWD 527.4m−TWD 510.9m−TWD 277.6m−TWD 379.7m−TWD 576.1m−TWD 745.1m−TWD 536.2m−TWD 69.9m−TWD 31.3m
Free cash flow−TWD 27.1m−TWD 48.2mTWD 203.0mTWD 264.1m−TWD 162.9m−TWD 79.7m−TWD 642.5m−TWD 251.0mTWD 223.4mTWD 52.1m
Dividends paid−TWD 244.5m−TWD 256.7m−TWD 305.6m−TWD 183.4m−TWD 171.2m−TWD 134.5m−TWD 69.9m−TWD 104.8m−TWD 93.1m−TWD 44.8m

Latest quarters

By quarter end

Jun 2026Mar 2026Dec 2025Sept 2025Jun 2025Mar 2025Dec 2024Sept 2024
RevenueTWD 683.6mTWD 620.8mTWD 567.6mTWD 692.3mTWD 595.5mTWD 619.3mTWD 652.4mTWD 678.3m
Gross profitTWD 86.6mTWD 104.7mTWD 40.2mTWD 103.3mTWD 116.8mTWD 152.8mTWD 148.5mTWD 165.6m
Operating incomeTWD 47.2mTWD 68.2mTWD 9.2mTWD 67.9mTWD 78.8mTWD 114.0m—TWD 123.4m
Net incomeTWD 42.8mTWD 46.9mTWD 3.9mTWD 49.0mTWD 85.6mTWD 90.3mTWD 76.4mTWD 86.7m
Diluted earnings per share0.350.380.030.400.700.740.620.71
Cash from operationsTWD 189.0mTWD 37.0mTWD 107.0mTWD 169.0mTWD 229.0mTWD 173.0m−TWD 13.0mTWD 345.0m
Capital spending−TWD 93.0m−TWD 90.0m−TWD 120.0m−TWD 240.0m−TWD 226.0m−TWD 118.0m−TWD 148.0m−TWD 204.0m
Free cash flowTWD 96.0m−TWD 53.0m−TWD 13.0m−TWD 71.0mTWD 3.0mTWD 55.0m−TWD 161.0mTWD 141.0m
Total assetsTWD 5.19bnTWD 5.06bnTWD 5.12bnTWD 4.98bnTWD 5.00bnTWD 4.93bnTWD 4.93bnTWD 4.72bn
Cash and short-term investments———TWD 262.0m————
DebtTWD 2.12bnTWD 2.11bnTWD 2.06bnTWD 2.30bnTWD 1.57bnTWD 1.57bnTWD 1.62bnTWD 1.17bn
Shareholders' equityTWD 1.98bnTWD 2.10bnTWD 2.03bnTWD 2.02bnTWD 1.98bnTWD 2.15bnTWD 2.06bnTWD 2.06bn

Financial ratios

Data as of 14 Oct 2026

FY2025FY2024FY2023FY2022FY2021FY2020
Gross margin16.7%21.9%19.8%21.0%18.2%20.8%
Operating margin11.6%15.2%14.1%16.4%11.5%11.9%
Net margin9.2%11.3%10.4%12.9%8.5%9.9%
Return on equity11.3%13.8%13.0%16.9%8.3%9.2%
Return on assets4.5%5.8%6.2%8.3%3.9%4.2%
Free cash flow yield—19.2%23.3%15.6%11.4%20.4%
Revenue growth-1.7%-7.3%-5.0%43.2%8.4%13.1%
Earnings growth-19.4%0.2%-23.0%116.0%-6.5%24.1%
Current ratio0.71x0.77x0.84x1.43x2.96x0.57x
Debt to equity1.02x0.78x0.95x0.89x1.03x1.06x
Equity ratio39.5%41.8%47.5%48.9%46.3%45.9%
Interest coverage8.76x12.99x12.23x18.03x13.56x29.06x
R&D as a share of sales0.9%1.0%0.8%0.6%0.7%0.3%
Buybacks as a share of market value—0.1%-0.1%0.0%-0.0%—

Growth per year

Compound annual rate

3 years5 years10 years
Revenue-4.7%6.1%6.3%
Operating income-16.8%4.2%8.2%
Net income-14.7%4.6%10.1%

Average margins

Over each period

1 year3 years5 years10 years
Gross margin19.3%19.9%19.8%18.7%
Operating margin13.0%14.2%13.5%12.1%
Net margin10.3%11.0%10.5%9.5%

Valuation history

At each fiscal year end

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Price to earnings24.520.720.413.822.820.921.320.421.027.3
Price to sales2.32.32.11.81.92.11.91.61.51.9

Dividends and splits

Per share, in the currency the company pays

Paid for 4 years. Last went ex-dividend on 30 Jul 2025.

FY2025FY2024FY2023FY2022
Paid in the year2.004.202.501.50
  • 1050-for-1000 split · 30 Jul 2019
  • 1040-for-1000 split · 29 Jul 2016
  • 1050-for-1000 split · 30 Jul 2015

Sources and methodology

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

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