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Size Tainan Spinning (1440.TW) is a Taiwan Consumer Discretionary company (Textiles) with a market value of $639M, the 370th largest of 687 Taiwan companies the cockpit tracks. Shares closed at NT$12.75 on 6 Nov 2026.
Performance Over six months the shares gained 1.6%, against -10.8% for the median peer and -3.4% for the Taiwan market (cap-weighted) — 6th highest of 21 in its peer set.
Growth Revenue fell 20.8% over the last twelve months (peer median +5.0%); the operating margin is -3.5% (peer median 7.7%).
Valuation It trades at 60.7× forward earnings against a peer median of 12.4× (2nd most expensive of 9).
Price implies For today's price to make sense, revenue must grow about 0% a year for seven years (Req g). Recent delivered growth is -4%, so the hurdle is +3 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 6.1 points below its cost of capital (5.0% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | NT$13.1B | NT$14.4B | NT$17.2B | NT$19.4B | NT$22.0B |
| Revenue growth | — | -16% | -12% | -11% | — |
| Gross profit | NT$1.07B | NT$983M | NT$799M | NT$522M | NT$2.34B |
| EBITDA | NT$493M | NT$384M | NT$144M | -NT$204M | NT$1.39B |
| Net income | NT$48.7M | -NT$248M | -NT$558M | NT$2.10B | NT$1.16B |
| Free cash flow | NT$1.24B | NT$2.35B | NT$65.0M | -NT$1.07B | NT$1.94B |
| Capital expenditure | NT$88.3M | NT$95.2M | NT$1.02B | NT$825M | NT$801M |
| Total debt | NT$10.2B | NT$11.3B | NT$12.5B | NT$14.8B | NT$14.6B |
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.
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 | 1440.TW | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -4.8% | -5.5% | 10th highest of 21 |
| 6-month return | +1.6% | -10.8% | 6th highest of 21 |
| Distance from 52-week high | -19.6% | -34.3% | 5th highest of 21 |
| Revenue growth (TTM) | -20.8% | +5.0% | 2nd lowest of 21 |
| Operating margin | -3.5% | 7.7% | 3rd lowest of 21 |
| Forward P/E | 60.7× | 12.4× | 2nd most expensive of 9 |
| Growth the price implies (Req g, 7 yrs) | -0.5% | 3.9% | 7th least demanding of 15 |
| Growth delivered (Del g) | -3.9% | +2.5% | lowest of 15 |
| Hurdle (Req g minus delivered) | +3.5 pp | -3.0 pp | 5th most demanding of 15 |
| ROIC minus cost of capital | -6.1 pp | -0.5 pp | 3rd lowest of 21 |
| Net debt / EBITDA | 6.6× | -0.2× | most indebted of 9 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Tainan Spinning 1440.TW | Taiwan | $639M | +2% | -21% | -4% | 60.7× | -0.5% | -3.9% |
| Jiangsu Aoyang Health Industry 002172.SZ | China | $637M | +48% | -9% | 4% | n/a | n/a | n/a |
| Zhejiang Unifull Industrial Fiber 002427.SZ | China | $636M | -26% | +3% | 3% | n/a | n/a | n/a |
| Jiangsu Huaxicun 000936.SZ | China | $658M | -31% | +14% | -5% | n/a | n/a | n/a |
| Lu Thai Textile 000726.SZ | China | $658M | -9% | -3% | 8% | 10.5× | -20.4% | +4.5% |
| Texhong International 2678.HK | Hong Kong | $587M | -32% | +6% | 8% | 3.0× | -20.5% | +2.3% |
| Hangzhou Fuen 001312.SZ | China | $582M | -29% | -5% | 14% | n/a | -3.6% | -0.8% |
| Shinkong Textile 1419.TW | Taiwan | $574M | 0% | +19% | 9% | n/a | 10.8% | +17.1% |
| Guangdong Highsun Meida New Materials 000782.SZ | China | $728M | -4% | 0% | -5% | n/a | n/a | n/a |
| Jiangsu Jujie Microfiber Technology 300819.SZ | China | $734M | -42% | +5% | 9% | 66.9× | n/a | n/a |
| Fujibo 3104.T | Japan | $551M | -34% | +14% | 18% | 11.8× | 1.3% | +4.5% |
| Shanghai Shenda 600626.SS | China | $745M | -4% | -2% | 1% | n/a | -1.0% | -0.1% |
| Sumitomo Seika Chemicals 4008.T | Japan | $545M | +12% | +5% | 10% | n/a | -5.2% | +7.5% |
| Jiangsu Jiuding New Material 002201.SZ | China | $760M | -42% | +6% | 9% | n/a | 22.1% | +1.4% |
| Beijing Sanlian Hope Shin-Gosen Technical Service 300384.SZ | China | $533M | -21% | -36% | 15% | 10.3× | 6.5% | -1.3% |
| Fuchun Dye and Weave 605189.SS | China | $523M | -13% | +29% | 4% | 13.0× | 6.5% | +17.6% |
| AnHui Jinchun Nonwoven 300877.SZ | China | $522M | -3% | +28% | 3% | n/a | 18.0% | 0.0% |
| Japan Wool Textile 3201.T | Japan | $792M | +14% | 0% | 11% | n/a | -8.6% | +2.6% |
| Gunze 3002.T | Japan | $797M | +17% | -4% | 5% | 26.6× | 10.5% | +1.1% |
| Xingye Leather Technology 002674.SZ | China | $807M | +35% | +7% | 8% | 30.9× | 14.3% | +15.4% |
| Anhui Huamao Textile 000850.SZ | China | $504M | -22% | +8% | 3% | n/a | n/a | n/a |