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Taiwan maker of diamond tools and CMP pad conditioners used to polish semiconductor wafers.
Taiwan maker of diamond tools and CMP pad conditioners used to polish semiconductor wafers.
Sells consumables: a pad conditioner wears out and is replaced regularly, so revenue repeats with wafer volumes at chipmakers rather than depending on new fab construction. Each conditioner must pass fab qualification before use, so customers rarely switch. Diamond wire for slicing solar wafers is a more cyclical second line.
In one line: Like 3M's diamond-abrasives unit, but standalone.
Moat: narrow (IP / patents, process know-how, installed base). Global share leader in CMP pad conditioners via diamond-bonding IP and long fab qualification cycles.
Headquarters: Taoyuan, Taiwan · Founded: 1985 · Employees: 1,773
Size Kinik (1560.TW) is a Taiwan Materials company (Industrial Specialties) with a market value of $3.04B, the 123rd largest of 687 Taiwan companies the cockpit tracks. Shares closed at NT$669.00 on 6 Nov 2026.
Performance Over six months the shares gained 17.0%, against -18.5% for the median peer and -3.4% for the Taiwan market (cap-weighted) — 4th highest of 19 in its peer set.
Growth Revenue grew 19.4% over the last twelve months (peer median +9.9%); the operating margin is 19.0% (peer median 10.6%).
Valuation It trades at 35.7× forward earnings against a peer median of 31.9× (6th most expensive of 16).
Price implies For today's price to make sense, revenue must grow about 35% a year for seven years (Req g). Recent delivered growth is +10%, so the hurdle is +25 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 5.0 points above its cost of capital (9.3% WACC).
Next results Next results expected around 25 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | NT$9.05B | NT$8.15B | NT$7.02B | NT$6.38B | NT$6.91B |
| Revenue growth | — | +16% | +10% | -8% | — |
| Gross profit | NT$3.13B | NT$2.58B | NT$2.13B | NT$1.88B | NT$2.48B |
| EBITDA | NT$2.43B | NT$1.95B | NT$1.73B | NT$1.59B | NT$2.05B |
| Net income | NT$1.77B | NT$1.36B | NT$1.04B | NT$852M | NT$1.25B |
| Free cash flow | NT$879M | NT$850M | NT$1.27B | NT$757M | NT$1.76B |
| Capital expenditure | NT$1.53B | NT$1.07B | NT$349M | NT$541M | NT$193M |
| Total debt | NT$2.14B | NT$2.42B | NT$2.10B | NT$2.01B | NT$1.94B |
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 |
|---|---|---|---|---|---|---|
| Kinik 1560.TW | $3.04B | +17% | +19% | 19% | 35.7× | 34.8% |
| 3M MMM | $95.7B | +30% | +2% | 21% | 19.2× | 11.3% |
| Compagnie de Saint-Gobain SGO.PA | $40.7B | -3% | -2% | 10% | 12.1× | 5.1% |
| Asahi Diamond Industrial 6140.T | $302M | -24% | +5% | 8% | 12.5× | 13.8% |
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 | 1560.TW | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -35.7% | -10.5% | lowest of 20 |
| 6-month return | +17.0% | -18.5% | 4th highest of 19 |
| Distance from 52-week high | -36.9% | -43.2% | 9th highest of 20 |
| Revenue growth (TTM) | +19.4% | +9.9% | 8th highest of 21 |
| Operating margin | 19.0% | 10.6% | 4th highest of 21 |
| Forward P/E | 35.7× | 31.9× | 6th most expensive of 16 |
| Growth the price implies (Req g, 7 yrs) | 34.8% | 9.0% | 2nd most demanding of 13 |
| Growth delivered (Del g) | +9.6% | +11.1% | 6th lowest of 13 |
| Hurdle (Req g minus delivered) | +25.2 pp | -2.8 pp | 2nd most demanding of 13 |
| ROIC minus cost of capital | +5.0 pp | -0.8 pp | 2nd highest of 21 |
| EV / EBITDA | 41.4× | 24.7× | 3rd most expensive of 10 |
| Net debt / EBITDA | -0.1× | 1.4× | 2nd least indebted of 10 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Kinik 1560.TW | Taiwan | $3.04B | +17% | +19% | 19% | 35.7× | 34.8% | +9.6% |
| Himadri Speciality Chemical HSCL.NS | India | $3.04B | -8% | +25% | 20% | 31.9× | n/a | n/a |
| Flat Glass 601865.SS | China | $3.03B | -30% | -23% | -2% | n/a | 8.2% | +20.0% |
| WD-40 WDFC | United States | $2.97B | +6% | +11% | 16% | 33.9× | 2.2% | +7.1% |
| SKSHU Paint 603737.SS | China | $3.14B | -33% | 0% | 4% | 29.5× | 27.7% | +8.9% |
| Kansai Paint 4613.T | Japan | $3.23B | +29% | +3% | 8% | 19.1× | 2.3% | +10.1% |
| Crown New Materials Techn Co L 001381.SZ | China | $3.33B | n/a | +8% | 10% | n/a | n/a | n/a |
| Jiangsu Pacific Quartz 603688.SS | China | $2.78B | -38% | +15% | 10% | 82.1× | n/a | n/a |
| China Hainan Rubber Industry 601118.SS | China | $3.36B | -27% | -37% | -3% | 104.6× | 2.9% | +22.2% |
| GCL Technology 3800.HK | Hong Kong | $2.71B | -30% | +25% | -22% | n/a | n/a | n/a |
| H.B. Fuller FUL | United States | $2.68B | -19% | +1% | 11% | 9.5× | 3.5% | +4.5% |
| DIC 4631.T | Japan | $2.68B | +25% | +6% | 7% | 9.3× | -1.0% | +8.5% |
| Shenzhen Leading Semiconductor Industry 603991.SS | China | $2.60B | +12% | +996% | 10% | n/a | 21.7% | +12.0% |
| Shanghai Sinyang Semiconductor Materials 300236.SZ | China | $3.58B | -20% | +33% | 15% | 54.8× | n/a | n/a |
| Xizang Gaozheng Civil Explosives 002827.SZ | China | $2.53B | +92% | -1% | 12% | 108.9× | n/a | n/a |
| Shaanxi Huaqin Technology Industry 688281.SS | China | $2.50B | -18% | +31% | 15% | 34.7× | 27.5% | +24.7% |
| Quanzhou Jiadeli Electronic Materials 603435.SS | China | $2.49B | n/a | +4% | 38% | n/a | n/a | n/a |
| Sichuan Yahua Industrial 002497.SZ | China | $2.48B | -56% | +69% | 18% | 6.2× | n/a | n/a |
| AZZ AZZ | United States | $3.76B | -15% | +10% | 17% | 16.9× | 9.8% | +14.5% |
| Pamica Technology 001359.SZ | China | $2.41B | -1% | +23% | 23% | 36.2× | 38.0% | +12.1% |
| Beijing Oriental Yuhong Waterproof Technology 002271.SZ | China | $3.92B | -27% | +10% | 1% | 18.8× | 10.6% | +5.0% |