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Taiwan's largest steelmaker, producing flat and long steel products for construction and industry.
Taiwan's largest steelmaker, producing flat and long steel products for construction and industry.
Makes steel from imported iron ore and coking coal in Kaohsiung, so profit depends on the spread between steel prices and raw-material costs, with output sold mainly to Taiwan's downstream manufacturers, including its own affiliates. Privatised in 1995, it still has government-linked shareholders. It also runs processing and engineering subsidiaries.
In one line: Taiwan's Nucor/US Steel.
Moat: narrow (scale, regulatory licence). Dominant domestic scale and government-linked strategic-industry status in Taiwan.
Headquarters: Kaohsiung, Taiwan · Founded: 1971
Size China Steel (2002.TW) is a Taiwan Materials company (Steel) with a market value of $8.65B, the 61st largest of 687 Taiwan companies the cockpit tracks. Shares closed at NT$18.55 on 6 Nov 2026.
Performance Over six months the shares fell 0.3%, against -8.6% for the median peer and -3.4% for the Taiwan market (cap-weighted) — 9th highest of 21 in its peer set.
Growth Revenue fell 6.9% over the last twelve months (peer median +9.8%); the operating margin is 0.1% (peer median 7.3%).
Valuation It trades at 41.5× forward earnings against a peer median of 13.4× (3rd most expensive of 20).
Capital Return on invested capital runs 4.9 points below its cost of capital (5.0% WACC).
Next results Next results expected around 4 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | NT$317B | NT$317B | NT$361B | NT$363B | NT$450B |
| Revenue growth | — | -12% | -1% | -19% | — |
| Gross profit | NT$12.2B | NT$7.68B | NT$14.0B | NT$15.3B | NT$30.6B |
| EBITDA | NT$32.5B | NT$28.7B | NT$34.4B | NT$35.7B | NT$52.6B |
| Net income | -NT$3.07B | -NT$4.35B | NT$1.98B | NT$1.68B | NT$17.8B |
| Free cash flow | NT$6.10B | NT$12.6B | -NT$2.32B | NT$3.28B | -NT$5.39B |
| Capital expenditure | NT$19.4B | NT$32.2B | NT$42.8B | NT$37.9B | NT$32.0B |
| Total debt | NT$273B | NT$271B | NT$272B | NT$262B | NT$246B |
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 |
|---|---|---|---|---|---|---|
| China Steel 2002.TW | $8.65B | 0% | -7% | 0% | 41.5× | n/a |
| Nucor NUE | $55.6B | +8% | +22% | 13% | 10.2× | 12.0% |
| Nippon Steel 5401.T | $22.3B | +15% | +28% | 4% | 11.2× | n/a |
| Baoshan Iron & Steel 600019.SS | $19.9B | -3% | +6% | 3% | 14.4× | -9.6% |
| POSCO 005490.KS | $14.4B | -42% | +4% | 3% | 11.2× | n/a |
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 | 2002.TW | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -1.9% | -4.9% | 7th highest of 21 |
| 6-month return | -0.3% | -8.6% | 9th highest of 21 |
| Distance from 52-week high | -14.1% | -24.8% | 3rd highest of 21 |
| Revenue growth (TTM) | -6.9% | +9.8% | 2nd lowest of 21 |
| Operating margin | 0.1% | 7.3% | 2nd lowest of 21 |
| Forward P/E | 41.5× | 13.4× | 3rd most expensive of 20 |
| ROIC minus cost of capital | -4.9 pp | -2.2 pp | 5th lowest of 21 |
| EV / EBITDA | 16.4× | 7.4× | 3rd most expensive of 15 |
| Net debt / EBITDA | 6.4× | 1.2× | 2nd most indebted of 17 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| China Steel 2002.TW | Taiwan | $8.65B | 0% | -7% | 0% | 41.5× | n/a | n/a |
| Gerdau S.A. Pfd Sponsored ADR Repr 1 Pfd Sh GGB | United States | $8.41B | -10% | +10% | 9% | 7.9× | 2.3% | +8.0% |
| thyssenkrupp TKA.DE | Germany | $8.33B | +10% | -2% | 1% | n/a | n/a | n/a |
| Citic Pacific Special Steel 000708.SZ | China | $9.52B | -18% | 0% | 6% | 10.8× | -7.8% | +7.2% |
| Ternium S.A. Sponsored ADR TX | United States | $9.65B | +5% | -1% | 8% | 6.7× | n/a | n/a |
| Steel Authority of India SAIL.NS | India | $7.49B | -8% | +9% | 8% | 8.9× | 11.0% | +9.9% |
| Lloyds Metals & Energy LLOYDSME.NS | India | $10.6B | +3% | +171% | 33% | 13.4× | n/a | n/a |
| Commercial Metals CMC | United States | $6.85B | -12% | +20% | 9% | 9.3× | 6.2% | +6.9% |
| Jfe 5411.T | Japan | $6.66B | +2% | -4% | 2% | 8.4× | 13.2% | +7.1% |
| Cleveland-Cliffs CLF | United States | $6.54B | +4% | +8% | -1% | 6.6× | n/a | n/a |
| APL Apollo Tubes APLAPOLLO.NS | India | $6.42B | +11% | +16% | 7% | 39.8× | 22.1% | +22.1% |
| Mineral Resources MIN.AX | Australia | $6.36B | -34% | +44% | 25% | 13.8× | 4.2% | +11.6% |
| Jindal Stainless JSL.NS | India | $6.10B | -9% | +12% | 10% | 16.9× | 21.0% | +28.7% |
| Jindal Steel JINDALSTEL.NS | India | $12.6B | -7% | +26% | 10% | 21.2× | n/a | n/a |
| Inner Mongolia Baotou Steel Union 600010.SS | China | $13.5B | -26% | -6% | 3% | 66.3× | 14.7% | +2.5% |
| Vallourec VK.PA | France | $5.51B | -31% | -7% | 14% | 15.5× | -7.6% | +3.3% |
| POSCO 005490.KS | South Korea | $14.4B | -42% | +4% | 3% | 11.2× | n/a | n/a |
| Kobe Steel 5406.T | Japan | $4.83B | 0% | -3% | 5% | 7.7× | -1.1% | +7.4% |
| Zhejiang Hailiang 002203.SZ | China | $4.53B | -23% | +10% | 2% | 17.6× | n/a | n/a |
| Tube Investments of India TIINDIA.NS | India | $4.47B | -28% | +18% | 7% | 42.7× | n/a | n/a |
| Grupo Simec SAB de CV Sponsored ADR SIM | United States | $4.22B | +4% | +17% | 16% | 14.1× | -9.2% | -1.1% |