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Employees: 2,940
Size China Motor (2204.TW) is a Taiwan Consumer Discretionary company (Motor Vehicles) with a market value of $867M, the 296th largest of 687 Taiwan companies the cockpit tracks. Shares closed at NT$51.80 on 6 Nov 2026.
Performance Over six months the shares fell 3.5%, against -3.5% for the median peer and -3.4% for the Taiwan market (cap-weighted) — 10th highest of 20 in its peer set.
Growth Revenue grew 6.1% over the last twelve months (peer median +6.8%); the operating margin is 4.1% (peer median 1.6%).
Valuation It trades at 8.4× forward earnings against a peer median of 17.1× (cheapest of 13).
Price implies For today's price to make sense, revenue must grow about 4% a year for seven years (Req g). Recent delivered growth is +1%, 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 2.5 points below 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$33.7B | NT$32.1B | NT$39.2B | NT$38.4B | NT$29.6B |
| Revenue growth | — | -18% | +2% | +30% | — |
| Gross profit | NT$4.48B | NT$4.45B | NT$5.31B | NT$5.70B | NT$4.59B |
| EBITDA | NT$2.58B | NT$2.18B | NT$2.71B | NT$3.49B | NT$2.83B |
| Net income | NT$3.40B | NT$2.99B | NT$4.01B | NT$5.65B | -NT$7.76B |
| Free cash flow | NT$1.84B | NT$856M | NT$689M | NT$4.26B | NT$3.79B |
| Capital expenditure | NT$2.12B | NT$2.10B | NT$2.31B | NT$2.75B | NT$934M |
| Total debt | NT$4.05B | NT$4.64B | NT$3.90B | NT$779M | NT$587M |
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 | 2204.TW | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +1.4% | -3.7% | 5th highest of 20 |
| 6-month return | -3.5% | -3.5% | 10th highest of 20 |
| Distance from 52-week high | -17.4% | -37.0% | 2nd highest of 20 |
| Revenue growth (TTM) | +6.1% | +6.8% | 9th lowest of 20 |
| Operating margin | 4.1% | 1.6% | 7th highest of 20 |
| Forward P/E | 8.4× | 17.1× | cheapest of 13 |
| Growth the price implies (Req g, 7 yrs) | 3.7% | 3.0% | 5th most demanding of 11 |
| Growth delivered (Del g) | +0.8% | +2.7% | 5th lowest of 10 |
| Hurdle (Req g minus delivered) | +2.9 pp | -0.1 pp | 5th most demanding of 10 |
| ROIC minus cost of capital | -2.5 pp | -3.2 pp | 7th highest of 19 |
| EV / EBITDA | 12.4× | 9.0× | 4th most expensive of 9 |
| Net debt / EBITDA | -0.2× | 1.9× | 3rd least indebted of 10 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| China Motor 2204.TW | Taiwan | $867M | -4% | +6% | 4% | 8.4× | 3.7% | +0.8% |
| Aebi Schmidt AEBI | United States | $867M | -3% | +49% | 6% | 11.3× | 11.9% | n/a |
| Guangdong Lvtong New Energy Electric Vehicle Tech 301322.SZ | China | $869M | +5% | +63% | -3% | n/a | n/a | n/a |
| Piaggio & C PIA.MI | Italy | $862M | +24% | -5% | 7% | 17.0× | 2.6% | +2.7% |
| Yulon Motor 2201.TW | Taiwan | $860M | -1% | -8% | 8% | 12.6× | 14.9% | -2.6% |
| Zhongtong Bus 000957.SZ | China | $857M | -18% | +6% | 6% | 11.6× | -16.1% | +10.7% |
| Olectra Greentech OLECTRA.NS | India | $891M | -19% | +38% | 12% | 23.7× | n/a | n/a |
| Zhejiang Qianjiang Motorcycle 000913.SZ | China | $896M | -16% | 0% | 2% | 17.2× | n/a | n/a |
| Shanghai New Power Automotive Technology 600841.SS | China | $914M | -39% | +15% | -5% | 19.5× | 2.1% | -23.6% |
| Breton Technology 1333.HK | Hong Kong | $915M | +5% | +16% | -24% | n/a | n/a | n/a |
| SML Mahindra SMLMAH.NS | India | $806M | +35% | +22% | 7% | n/a | 23.6% | +36.9% |
| Kuen Tong Technology 7965.TWO | Taiwan | $796M | n/a | n/a | n/a | n/a | n/a | n/a |
| Haima Automobile 000572.SZ | China | $792M | -43% | -48% | -27% | n/a | n/a | n/a |
| Hanma Technology 600375.SS | China | $786M | -39% | +38% | 0% | n/a | 11.1% | +0.5% |
| IAT Automobile Technology 300825.SZ | China | $786M | +9% | +7% | -8% | 538.0× | n/a | n/a |
| Xiamen King Long Motor 600686.SS | China | $967M | -42% | -3% | 2% | 9.1× | -1.1% | +12.0% |
| Polestar Automotive Holding UK PLC Sponsored ADR PSNY | United States | $778M | -79% | +18% | -47% | n/a | n/a | n/a |
| Dometic DOM.ST | Sweden | $755M | -29% | -6% | -13% | 11.4× | 3.4% | +5.4% |
| Nissan Shatai 7222.T | Japan | $747M | -4% | +15% | 4% | n/a | n/a | n/a |
| Luyuan Group Holding (Cayman) 2451.HK | Hong Kong | $722M | +24% | -3% | 1% | 26.3× | n/a | n/a |
| Giant Manufacturing 9921.TW | Taiwan | $1.06B | +29% | -15% | 2% | 18.1× | 1.3% | -3.0% |