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Global fitness equipment maker selling treadmills, ellipticals and strength machines under Matrix, Horizon and Vision brands.
Global fitness equipment maker selling treadmills, ellipticals and strength machines under Matrix, Horizon and Vision brands.
Sells under its own brands through subsidiaries in each region, with commercial gym equipment going directly to health clubs and hotels and home equipment through specialty and sporting-goods retailers. Commercial gym purchases are lumpy, tied to club openings and refurbishments.
In one line: Taiwan's answer to Peloton/Life Fitness.
Moat: narrow (brand, distribution, scale). Multi-brand global distribution network and OEM scale built over decades.
Headquarters: Taichung, Taiwan · Founded: 1975
Size Johnson Health Tech (1736.TW) is a Taiwan Consumer Discretionary company (Recreational Products) with a market value of $1.01B, the 270th largest of 687 Taiwan companies the cockpit tracks. Shares closed at NT$110.50 on 6 Nov 2026.
Performance Over six months the shares fell 11.9%, against -10.4% for the median peer and -3.4% for the Taiwan market (cap-weighted) — 10th lowest of 21 in its peer set.
Growth Revenue grew 7.8% over the last twelve months (peer median +11.9%); the operating margin is 8.1% (peer median 5.1%).
Valuation It trades at 8.5× forward earnings against a peer median of 12.4× (cheapest of 14).
Price implies For today's price to make sense, revenue must grow about -8% a year for seven years (Req g). Recent delivered growth is +14%, so the hurdle is -22 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 8.2 points above its cost of capital (5.0% WACC).
Next results Next results expected around 17 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | NT$56.5B | NT$54.3B | NT$47.8B | NT$38.1B | NT$33.6B |
| Revenue growth | — | +14% | +26% | +13% | — |
| Gross profit | NT$28.6B | NT$26.1B | NT$23.0B | NT$17.3B | NT$13.5B |
| EBITDA | NT$6.20B | NT$5.23B | NT$4.71B | NT$2.64B | NT$992M |
| Net income | NT$3.35B | NT$2.75B | NT$2.43B | NT$710M | NT$429M |
| Free cash flow | NT$3.20B | NT$884M | NT$347M | NT$3.41B | -NT$81.8M |
| Capital expenditure | NT$1.70B | NT$1.78B | NT$727M | NT$707M | NT$441M |
| Total debt | NT$17.2B | NT$19.4B | NT$17.6B | NT$16.4B | NT$18.9B |
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 |
|---|---|---|---|---|---|---|
| Johnson Health Tech 1736.TW | $1.01B | -12% | +8% | 8% | 8.5× | -8.0% |
| Peloton Interactive PTON | $2.50B | -1% | -2% | 9% | 18.7× | 7.2% |
| Technogym S.p.A TGYM.MI | $3.34B | -32% | +10% | 16% | 23.8× | 9.7% |
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 | 1736.TW | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -10.9% | +1.1% | 6th lowest of 21 |
| 6-month return | -11.9% | -10.4% | 10th lowest of 21 |
| Distance from 52-week high | -34.4% | -27.4% | 10th lowest of 21 |
| Revenue growth (TTM) | +7.8% | +11.9% | 9th lowest of 21 |
| Operating margin | 8.1% | 5.1% | 10th highest of 21 |
| Forward P/E | 8.5× | 12.4× | cheapest of 14 |
| Growth the price implies (Req g, 7 yrs) | -8.0% | -1.5% | 5th least demanding of 13 |
| Growth delivered (Del g) | +13.9% | +7.4% | 4th highest of 13 |
| Hurdle (Req g minus delivered) | -21.9 pp | -10.0 pp | 3rd least demanding of 13 |
| ROIC minus cost of capital | +8.2 pp | -0.3 pp | 7th highest of 20 |
| EV / EBITDA | 7.6× | 7.6× | 7th most expensive of 14 |
| Net debt / EBITDA | 2.2× | -0.6× | 2nd most indebted of 17 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Johnson Health Tech 1736.TW | Taiwan | $1.01B | -12% | +8% | 8% | 8.5× | -8.0% | +13.9% |
| GoldLok Holdings (Guangdong) 002348.SZ | China | $1.03B | -38% | +77% | -14% | n/a | n/a | n/a |
| Ferretti YACHT.MI | Italy | $967M | -27% | +1% | 7% | 11.6× | 3.2% | +15.9% |
| Fusheng Precision 6670.TW | Taiwan | $1.07B | -1% | +1% | 15% | 9.3× | -14.6% | +15.9% |
| Winnebago Industries WGO | United States | $892M | -1% | -3% | 2% | 15.8× | 6.9% | -5.7% |
| Guangzhou Pearl River Piano 002678.SZ | China | $852M | -30% | +14% | -54% | n/a | n/a | n/a |
| Mips MIPS.ST | Sweden | $1.24B | +75% | +41% | 37% | 47.3× | 32.9% | +7.9% |
| Sturm, Ruger & RGR | United States | $798M | +28% | +8% | 2% | 26.8× | 21.9% | -0.8% |
| Yonex 7906.T | Japan | $1.31B | -10% | +15% | 10% | 14.6× | n/a | n/a |
| New Gonow Recreational Vehicles 0805.HK | Hong Kong | $1.36B | +491% | +13% | 2% | n/a | n/a | n/a |
| Sanlorenzo SL.MI | Italy | $1.46B | -7% | +2% | 14% | 11.8× | -2.0% | +13.7% |
| Spin Master TOY.TO | Canada | $1.52B | +6% | -2% | 9% | 9.6× | -11.5% | +7.0% |
| Tron TRON | United States | $669M | -37% | +20% | -45% | n/a | n/a | n/a |
| Bloks 0325.HK | Hong Kong | $1.56B | -23% | +30% | 21% | 12.4× | -1.0% | +102.8% |
| Thunder Tiger 8033.TW | Taiwan | $647M | -14% | +11% | -5% | n/a | n/a | n/a |
| Shuhua Sports 605299.SS | China | $642M | -60% | +20% | 9% | 32.8× | n/a | n/a |
| Roland 7944.T | Japan | $605M | -11% | +8% | 9% | 10.6× | -8.3% | +9.5% |
| VTech 0303.HK | Hong Kong | $1.72B | -15% | -7% | 9% | 11.9× | -9.7% | -3.0% |
| Alpen 3028.T | Japan | $590M | +26% | +6% | 3% | n/a | -3.0% | +4.2% |
| tonies TNIE.DE | Germany | $1.86B | +24% | +36% | 4% | 37.4× | n/a | n/a |
| Mastercraft Boat MCFT | United States | $493M | -26% | +23% | 3% | n/a | 28.3% | -7.9% |