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Long-established Taiwanese electrical-equipment maker producing transformers, switchgear and motors for utilities and industry.
Long-established Taiwanese electrical-equipment maker producing transformers, switchgear and motors for utilities and industry.
Sells to Taiwan's state utility Taipower and to industrial buyers, with utility orders tendered in large lots and industrial control and distribution products sold through distributors. Taipower's grid-spending plans therefore set a big part of its order book.
In one line: A smaller, Taiwanese Schneider Electric/Siemens Energy peer.
Moat: narrow (scale, customer qualification, installed base). Decades-long incumbent supplier to Taiwan's utilities and heavy industry with a large installed base.
Headquarters: Taipei, Taiwan · Founded: 1955 · Employees: 4,080
Size Shihlin Electric & Engineering (1503.TW) is a Taiwan Industrials company (Electronic Equipment/Instruments) with a market value of $2.51B, the 141st largest of 687 Taiwan companies the cockpit tracks. Shares closed at NT$159.00 on 6 Nov 2026.
Performance Over six months the shares fell 19.7%, against -12.5% for the median peer and -3.4% for the Taiwan market (cap-weighted) — 4th lowest of 14 in its peer set.
Growth Revenue grew 8.3% over the last twelve months (peer median +7.5%); the operating margin is 11.7% (peer median 15.0%).
Valuation It trades at 18.9× forward earnings against a peer median of 18.7× (6th most expensive of 12).
Price implies For today's price to make sense, revenue must grow about 12% a year for seven years (Req g). Recent delivered growth is +8%, so the hurdle is +4 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 1.1 points above its cost of capital (8.8% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | NT$39.1B | NT$37.2B | NT$35.1B | NT$31.8B | NT$30.8B |
| Revenue growth | — | +6% | +10% | +3% | — |
| Gross profit | NT$8.00B | NT$7.60B | NT$6.66B | NT$5.52B | NT$5.11B |
| EBITDA | NT$5.39B | NT$5.10B | NT$4.13B | NT$3.21B | NT$2.97B |
| Net income | NT$3.78B | NT$3.27B | NT$3.03B | NT$2.35B | NT$2.01B |
| Free cash flow | NT$2.13B | NT$3.99B | NT$1.90B | NT$3.73B | NT$588M |
| Capital expenditure | NT$1.45B | NT$963M | NT$841M | NT$897M | NT$666M |
| Total debt | NT$930M | NT$1.55B | NT$1.20B | NT$1.67B | NT$3.49B |
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 |
|---|---|---|---|---|---|---|
| Shihlin Electric & Engineering 1503.TW | $2.51B | -20% | +8% | 12% | 18.9× | 11.5% |
| Chung-Hsin Electric & Machinery Manufacturing 1513.TW | $2.07B | -10% | +4% | 19% | 14.7× | -2.2% |
| Siemens Energy ENR.DE | $111B | -33% | +9% | 9% | 26.4× | 17.3% |
| Schneider Electric SU.PA | $151B | -16% | +7% | 18% | 22.2× | 18.0% |
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 | 1503.TW | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -18.9% | -7.9% | 3rd lowest of 14 |
| 6-month return | -19.7% | -12.5% | 4th lowest of 14 |
| Distance from 52-week high | -41.0% | -26.8% | 2nd lowest of 14 |
| Revenue growth (TTM) | +8.3% | +7.5% | 5th highest of 14 |
| Operating margin | 11.7% | 15.0% | 3rd lowest of 14 |
| Forward P/E | 18.9× | 18.7× | 6th most expensive of 12 |
| Growth the price implies (Req g, 7 yrs) | 11.5% | 8.3% | 5th most demanding of 10 |
| Growth delivered (Del g) | +7.7% | +6.3% | 4th highest of 10 |
| Hurdle (Req g minus delivered) | +3.8 pp | +1.6 pp | 5th most demanding of 10 |
| ROIC minus cost of capital | +1.1 pp | +4.1 pp | 6th lowest of 14 |
| EV / EBITDA | 14.9× | 16.2× | 6th cheapest of 12 |
| Net debt / EBITDA | -0.6× | 1.6× | 4th least indebted of 12 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Shihlin Electric & Engineering 1503.TW | Taiwan | $2.51B | -20% | +8% | 12% | 18.9× | 11.5% | +7.7% |
| Standex International SXI | United States | $2.76B | -13% | +8% | 18% | 20.9× | 15.2% | +6.3% |
| Honeywell Automation India HONAUT.NS | India | $2.81B | -2% | +5% | 13% | 39.5× | 32.9% | +9.2% |
| Azbil 6845.T | Japan | $4.63B | -2% | +1% | 15% | 18.7× | 5.5% | +3.9% |
| Sensata Technologies ST | United States | $5.72B | -13% | +4% | 16% | 9.9× | 5.2% | +4.1% |
| Yokogawa Electric 6841.T | Japan | $6.24B | -30% | +7% | 13% | 15.5× | 6.8% | +10.1% |
| APAR Industries APARINDS.NS | India | $6.25B | +10% | +23% | 9% | 34.6× | n/a | n/a |
| MSA Safety MSA | United States | $6.55B | 0% | +8% | 22% | 17.5× | 8.3% | +6.8% |
| Genus Power Infrastructures GENUSPOWER.NS | India | $922M | -14% | +74% | 18% | 12.2× | n/a | n/a |
| ESCO Technologies ESE | United States | $7.14B | -24% | +17% | 16% | 25.8× | 25.5% | +8.4% |
| China Railway Signal & Communication 3969.HK | Hong Kong | $7.40B | -15% | +6% | 12% | 7.4× | -6.9% | -3.6% |
| Ralliant RAL | United States | $7.49B | +43% | -4% | 15% | 19.2× | 20.5% | -0.3% |
| Spectrum Electrical Industries SPECTRUM.NS | India | $800M | +262% | +104% | 13% | n/a | n/a | n/a |
| FuelCell Energy FCEL | United States | $796M | -27% | +1% | -88% | n/a | n/a | n/a |