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Taiwanese maker of steel and aluminum wheels and other components supplied to automakers.
Taiwanese maker of steel and aluminum wheels and other components supplied to automakers.
In one line: A wheel-rim OEM supplier.
Moat: narrow (customer qualification, scale). Qualified OEM wheel supplier; switching costs for automakers to requalify wheel vendors.
Headquarters: Changhua, Taiwan
Size Tong Yang Industry (1319.TW) is a Taiwan Consumer Discretionary company (Auto Parts: OEM) with a market value of $1.35B, the 215th largest of 687 Taiwan companies the cockpit tracks. Shares closed at NT$75.60 on 6 Nov 2026.
Performance Over six months the shares fell 1.1%, against -20.4% for the median peer and -3.4% for the Taiwan market (cap-weighted) — 6th highest of 21 in its peer set.
Growth Revenue fell 12.2% over the last twelve months (peer median +13.7%); the operating margin is 15.4% (peer median 7.2%).
Valuation It trades at 10.9× forward earnings against a peer median of 17.1× (5th cheapest of 16).
Price implies For today's price to make sense, revenue must grow about -6% a year for seven years (Req g). Recent delivered growth is +8%, so the hurdle is -14 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 6.2 points above its cost of capital (5.0% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | NT$23.2B | NT$25.1B | NT$25.6B | NT$23.9B | NT$21.3B |
| Revenue growth | — | -2% | +7% | +12% | — |
| Gross profit | NT$7.12B | NT$8.19B | NT$8.29B | NT$6.88B | NT$4.75B |
| EBITDA | NT$6.31B | NT$7.31B | NT$7.63B | NT$6.69B | NT$5.12B |
| Net income | NT$3.64B | NT$3.80B | NT$4.38B | NT$3.02B | NT$2.15B |
| Free cash flow | NT$2.57B | NT$1.35B | NT$3.99B | NT$4.01B | NT$3.19B |
| Capital expenditure | NT$3.41B | NT$3.26B | NT$3.59B | NT$3.00B | NT$2.42B |
| Total debt | NT$2.60B | NT$3.19B | NT$3.15B | NT$2.70B | NT$3.61B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Tong Yang Industry 1319.TW | $1.35B | -1% | -12% | 15% | 10.9× | -5.9% |
| Cheng Shin Rubber Ind 2105.TW | $2.95B | -3% | -1% | 9% | 20.3× | -9.3% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 1319.TW | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -2.8% | -5.7% | 7th highest of 21 |
| 6-month return | -1.1% | -20.4% | 6th highest of 21 |
| Distance from 52-week high | -34.8% | -43.9% | 8th highest of 21 |
| Revenue growth (TTM) | -12.2% | +13.7% | lowest of 20 |
| Operating margin | 15.4% | 7.2% | 3rd highest of 21 |
| Forward P/E | 10.9× | 17.1× | 5th cheapest of 16 |
| Growth the price implies (Req g, 7 yrs) | -5.9% | 8.6% | 6th least demanding of 12 |
| Growth delivered (Del g) | +7.7% | +9.7% | 3rd lowest of 11 |
| Hurdle (Req g minus delivered) | -13.6 pp | -11.1 pp | 6th least demanding of 11 |
| ROIC minus cost of capital | +6.2 pp | +0.5 pp | 3rd highest of 21 |
| EV / EBITDA | 6.8× | 13.9× | 4th cheapest of 10 |
| Net debt / EBITDA | -0.4× | 0.8× | 6th least indebted of 12 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Tong Yang Industry 1319.TW | Taiwan | $1.35B | -1% | -12% | 15% | 10.9× | -5.9% | +7.7% |
| Jiangsu Bojun Industrial Technology 300926.SZ | China | $1.35B | -31% | +54% | 13% | 9.0× | n/a | n/a |
| Kunshan Huguang Auto Harness 605333.SS | China | $1.32B | -16% | -2% | 2% | 31.8× | n/a | n/a |
| Zhejiang Shibao 1057.HK | Hong Kong | $1.32B | -33% | +22% | 4% | n/a | 26.8% | +25.6% |
| Wuxi Best Precision Machinery 300580.SZ | China | $1.32B | -40% | +12% | 16% | 29.4× | 20.8% | +10.1% |
| Zhuzhou Times New Materials Technology 600458.SS | China | $1.39B | -17% | +1% | 2% | 14.7× | n/a | n/a |
| Nexteer Automotive 1316.HK | Hong Kong | $1.40B | -14% | +6% | 4% | 8.5× | -13.5% | +8.7% |
| Zhejiang Fenglong Electric 002931.SZ | China | $1.30B | -31% | +2% | 0% | n/a | n/a | n/a |
| Lingyun Industrial 600480.SS | China | $1.41B | -25% | +3% | 5% | 17.1× | -12.3% | +8.0% |
| SEDEMAC Mechatronics SEDEMAC.NS | India | $1.42B | +56% | +61% | 15% | 73.8× | n/a | n/a |
| Longhorn Auto 301488.SZ | China | $1.29B | -32% | +34% | 2% | 82.0× | n/a | n/a |
| CIE Automotive India CIEINDIA.NS | India | $1.42B | -26% | +12% | 11% | 12.2× | 8.6% | +9.2% |
| ASK Automotive ASKAUTOLTD.NS | India | $1.28B | +35% | +39% | 9% | 34.3× | n/a | n/a |
| Varroc Engineering VARROC.NS | India | $1.28B | +40% | +22% | 6% | 31.5× | 29.9% | +15.1% |
| Jiangsu Yunyi Electric 300304.SZ | China | $1.27B | -19% | +14% | 17% | 16.9× | 17.1% | +23.4% |
| Hong Leong Asia H22.SI | Singapore | $1.26B | -40% | +17% | 9% | 9.5× | -12.9% | +2.9% |
| Adient ADNT | United States | $1.26B | -28% | +4% | 3% | 6.1× | -17.6% | +2.1% |
| Dn Automotive 007340.KS | South Korea | $1.46B | -20% | +17% | 15% | n/a | -16.2% | +35.6% |
| JBM Auto JBMA.NS | India | $1.24B | -21% | +16% | 9% | n/a | n/a | n/a |
| SKF India (Industrial) SKFINDUS.NS | India | $1.23B | +9% | n/a | 11% | 33.3× | 36.9% | n/a |
| Xiangyang Automobile Bearing 000678.SZ | China | $1.22B | +53% | -3% | -3% | n/a | n/a | n/a |