Giant Manufacturing Co 9921.TW · TWD
Consumer Discretionary · Taiwan Stock Exchange · 🇹🇼 Taiwan
91.40
+1.90%
Close of 9 Nov 2026, in TWD
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At a glance
Figures in TWD, from our data supplier.
Revenue
TWD 60.25bn
FY2016FY2025
Net income
TWD 723.3m
FY2016FY2025
Free cash flow
TWD 9.53bn
FY2016FY2025
Shareholders' equity
TWD 34.06bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | TWD 60.25bn | TWD 71.28bn | TWD 76.95bn | TWD 92.04bn | TWD 81.84bn | TWD 70.01bn | TWD 63.45bn | TWD 60.24bn | TWD 55.21bn | TWD 57.09bn |
| Gross profit | TWD 10.55bn | TWD 13.53bn | TWD 16.97bn | TWD 20.82bn | TWD 19.76bn | TWD 16.17bn | TWD 13.66bn | TWD 12.49bn | TWD 11.04bn | TWD 11.80bn |
| Research and development | TWD 1.32bn | TWD 1.42bn | TWD 1.46bn | TWD 1.53bn | TWD 1.04bn | TWD 939.9m | TWD 873.7m | TWD 826.9m | TWD 791.5m | TWD 796.0m |
| Operating income | TWD 1.37bn | TWD 2.30bn | TWD 4.71bn | TWD 9.74bn | TWD 8.97bn | TWD 7.08bn | TWD 5.28bn | TWD 3.90bn | TWD 2.95bn | TWD 3.78bn |
| Net income | TWD 723.3m | TWD 1.26bn | TWD 3.40bn | TWD 5.84bn | TWD 5.93bn | TWD 4.95bn | TWD 3.37bn | TWD 2.86bn | TWD 2.05bn | TWD 3.07bn |
| Diluted earnings per share | 1.84 | 3.22 | 8.35 | 11.27 | 15.71 | 13.18 | 9.00 | 7.65 | 5.48 | 8.19 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | TWD 69.75bn | TWD 78.70bn | TWD 84.62bn | TWD 93.53bn | TWD 77.20bn | TWD 62.50bn | TWD 59.03bn | TWD 52.64bn | TWD 47.79bn | TWD 45.24bn |
| Cash and short-term investments | TWD 13.02bn | TWD 14.22bn | TWD 15.90bn | TWD 13.97bn | TWD 10.93bn | TWD 13.77bn | TWD 10.49bn | TWD 8.95bn | TWD 8.18bn | TWD 7.56bn |
| Total liabilities | TWD 32.73bn | TWD 41.97bn | TWD 48.30bn | TWD 57.63bn | TWD 47.55bn | TWD 35.54bn | TWD 35.57bn | TWD 30.37bn | TWD 26.78bn | TWD 25.23bn |
| Debt | TWD 13.90bn | TWD 22.61bn | TWD 27.59bn | TWD 31.02bn | TWD 24.24bn | TWD 16.14bn | TWD 20.12bn | TWD 14.65bn | TWD 12.40bn | TWD 11.15bn |
| Shareholders' equity | TWD 34.06bn | TWD 33.76bn | TWD 33.68bn | TWD 33.36bn | TWD 27.48bn | TWD 25.17bn | TWD 21.84bn | TWD 20.81bn | TWD 19.62bn | TWD 19.97bn |
| Shares outstanding | 392m | 392m | 407m | 519m | 378m | 376m | 375m | 374m | 375m | 374m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | TWD 11.16bn | TWD 12.15bn | TWD 10.59bn | TWD 511.6m | −TWD 4.96bn | TWD 11.40bn | TWD 1.94bn | TWD 2.69bn | TWD 2.94bn | TWD 2.38bn |
| Capital spending | −TWD 1.63bn | −TWD 2.52bn | −TWD 2.31bn | −TWD 2.70bn | −TWD 2.38bn | −TWD 2.86bn | −TWD 3.43bn | −TWD 2.65bn | −TWD 1.66bn | −TWD 1.42bn |
| Free cash flow | TWD 9.53bn | TWD 9.63bn | TWD 8.28bn | −TWD 2.19bn | −TWD 7.34bn | TWD 8.54bn | −TWD 1.49bn | TWD 48.7m | TWD 1.29bn | TWD 964.7m |
| Dividends paid | −TWD 862.5m | −TWD 1.96bn | −TWD 3.06bn | −TWD 3.75bn | −TWD 3.00bn | −TWD 1.73bn | −TWD 1.73bn | −TWD 1.31bn | −TWD 1.88bn | −TWD 2.33bn |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | TWD 16.66bn | TWD 12.52bn | TWD 12.29bn | TWD 15.35bn | TWD 15.75bn | TWD 16.85bn | TWD 13.59bn | TWD 20.46bn |
| Gross profit | TWD 4.04bn | TWD 2.46bn | TWD 2.08bn | TWD 3.30bn | TWD 3.22bn | TWD 3.00bn | TWD 1.83bn | TWD 3.78bn |
| Operating income | TWD 1.39bn | −TWD 191.4m | −TWD 178.3m | TWD 438.6m | TWD 432.3m | TWD 558.3m | −TWD 968.0m | TWD 781.8m |
| Net income | TWD 717.2m | −TWD 199.8m | −TWD 184.1m | TWD 350.0m | TWD 189.9m | TWD 367.6m | −TWD 907.1m | TWD 498.9m |
| Diluted earnings per share | 1.62 | -0.45 | -0.47 | 0.89 | 0.48 | 0.94 | -2.31 | 1.27 |
| Cash from operations | TWD 2.18bn | TWD 766.0m | TWD 1.18bn | TWD 4.01bn | TWD 4.78bn | TWD 1.44bn | −TWD 1.83bn | TWD 4.20bn |
| Capital spending | −TWD 464.0m | −TWD 291.0m | −TWD 430.0m | −TWD 388.0m | −TWD 381.0m | −TWD 568.0m | −TWD 823.0m | −TWD 994.0m |
| Free cash flow | TWD 1.71bn | TWD 475.0m | TWD 750.0m | TWD 3.63bn | TWD 4.40bn | TWD 867.0m | −TWD 2.65bn | TWD 3.21bn |
| Total assets | — | TWD 72.34bn | TWD 69.75bn | TWD 69.86bn | TWD 70.97bn | TWD 78.95bn | TWD 78.70bn | TWD 81.49bn |
| Cash and short-term investments | — | TWD 14.93bn | TWD 13.02bn | TWD 13.37bn | TWD 13.15bn | TWD 13.39bn | TWD 14.22bn | TWD 15.92bn |
| Debt | — | TWD 15.37bn | TWD 14.47bn | TWD 14.86bn | TWD 17.45bn | TWD 22.11bn | TWD 22.77bn | TWD 22.87bn |
| Shareholders' equity | — | TWD 34.34bn | TWD 34.06bn | TWD 33.28bn | TWD 31.98bn | TWD 34.73bn | TWD 33.76bn | TWD 34.95bn |
Financial ratios
Data as of 21 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 17.5% | 19.0% | 22.1% | 22.6% | 24.1% | 23.1% |
| Operating margin | 2.3% | 3.2% | 6.1% | 10.6% | 11.0% | 10.1% |
| Net margin | 1.2% | 1.8% | 4.4% | 6.3% | 7.2% | 7.1% |
| Return on equity | 2.1% | 3.7% | 10.1% | 17.5% | 21.6% | 19.7% |
| Return on assets | 1.0% | 1.6% | 4.0% | 6.2% | 7.7% | 7.9% |
| Free cash flow yield | 36.0% | 41.3% | 35.0% | 6.8% | -7.6% | 42.0% |
| Revenue growth | -15.5% | -7.4% | -16.4% | 12.5% | 16.9% | 10.3% |
| Earnings growth | -42.8% | -62.8% | -41.8% | -1.5% | 19.8% | 46.7% |
| Current ratio | 1.85x | 1.56x | 1.77x | 1.55x | 1.44x | 1.62x |
| Debt to equity | 0.41x | 0.67x | 0.83x | 0.89x | 0.85x | 0.61x |
| Equity ratio | 48.8% | 42.9% | 39.8% | 35.7% | 35.6% | 40.3% |
| Interest coverage | 2.08x | 2.12x | 4.19x | 22.78x | 41.30x | 29.68x |
| R&D as a share of sales | 2.2% | 2.0% | 1.9% | 1.7% | 1.3% | 1.3% |
| Buybacks as a share of market value | 0.0% | 3.7% | 21.5% | -37.3% | -0.6% | -0.2% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -13.2% | -3.0% | -0.0% |
| Operating income | -48.0% | -28.0% | -11.9% |
| Net income | -50.2% | -31.9% | -15.4% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 18.3% | 20.6% | 21.6% | 21.4% |
| Operating margin | 2.8% | 6.0% | 7.6% | 7.3% |
| Net margin | 1.5% | 3.7% | 4.9% | 5.0% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 50.2 | 43.9 | 22.0 | 17.8 | 21.8 | 20.7 | 23.5 | 18.8 | 29.6 | 22.2 |
| Price to sales | 0.6 | 0.8 | 1.0 | 1.1 | 1.6 | 1.5 | 1.3 | 0.9 | 1.1 | 1.2 |
Dividends and splits
Per share, in the currency the company pays
Paid for 31 years. Last went ex-dividend on 25 Aug 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 1.819 | 2.20 | 5.00 | 7.80 | 9.904 | 7.923 | 4.556 | 4.556 |
- 6-for-5 split · 6 Aug 2009
- 21-for-20 split · 7 Aug 2008
- 1.07-for-1 split · 2 Aug 2002
- 1.15-for-1 split · 9 Jul 2001
- 1.15-for-1 split · 21 Jul 2000
- 11-for-10 split · 16 Jul 1999
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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