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Taiwan's largest auto distributor, importing and selling Toyota and Lexus vehicles.
Taiwan's largest auto distributor, importing and selling Toyota and Lexus vehicles.
Imports and sells Toyota and Lexus cars under exclusive distribution rights, so volumes depend on supply from Toyota as well as Taiwan's car market. After-sales parts and service, and car financing and leasing through group arms, give income beyond the sale of the vehicle. Some Toyota models are assembled in Taiwan through an affiliate, Kuozui Motors.
In one line: Taiwan's largest Toyota dealer group, like AutoNation for Toyota.
Moat: narrow (distribution, brand, regulatory licence). Exclusive Toyota/Lexus distribution rights and dealer network across Taiwan.
Headquarters: Taipei, Taiwan · Founded: 1977 · Employees: 8,703
Size Hotai Motor (2207.TW) is a Taiwan Industrials company (Wholesale Distributors) with a market value of $8.90B, the 59th largest of 687 Taiwan companies the cockpit tracks. Shares closed at NT$528.00 on 6 Nov 2026.
Performance Over six months the shares gained 10.5%, against -1.0% for the median peer and -3.4% for the Taiwan market (cap-weighted) — 6th highest of 21 in its peer set.
Growth Revenue grew 8.4% over the last twelve months (peer median +4.3%); the operating margin is 11.4% (peer median 9.5%).
Valuation It trades at 13.2× forward earnings against a peer median of 19.2× (cheapest of 21).
Price implies For today's price to make sense, revenue must grow about 2% a year for seven years (Req g). Recent delivered growth is +4%, so the hurdle is -2 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 1.1 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$298B | NT$278B | NT$277B | NT$275B | NT$242B |
| Revenue growth | — | 0% | +1% | +13% | — |
| Gross profit | NT$55.4B | NT$49.5B | NT$49.0B | NT$48.9B | NT$909M |
| EBITDA | NT$48.8B | NT$44.9B | NT$43.4B | NT$43.3B | -NT$3.11B |
| Net income | NT$22.7B | NT$18.9B | NT$20.5B | NT$22.9B | -NT$19.3B |
| Free cash flow | NT$22.7B | NT$23.7B | -NT$1.38B | -NT$43.4B | -NT$68.6B |
| Capital expenditure | NT$23.3B | NT$25.3B | NT$26.0B | NT$25.9B | NT$29.1B |
| Total debt | NT$318B | NT$315B | NT$316B | NT$309B | NT$260B |
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 |
|---|---|---|---|---|---|---|
| Hotai Motor 2207.TW | $8.90B | +10% | +8% | 11% | 13.2× | 1.5% |
| China Motor 2204.TW | $867M | -4% | +6% | 4% | 8.4× | 3.7% |
| Yulon Motor 2201.TW | $860M | -1% | -8% | 8% | 12.6× | 14.9% |
| Tesla TSLA | $1.42T | -16% | +8% | 4% | 176.4× | 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 | 2207.TW | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +3.5% | +3.5% | 11th highest of 21 |
| 6-month return | +10.5% | -1.0% | 6th highest of 21 |
| Distance from 52-week high | -16.6% | -14.7% | 10th lowest of 21 |
| Revenue growth (TTM) | +8.4% | +4.3% | 7th highest of 21 |
| Operating margin | 11.4% | 9.5% | 9th highest of 21 |
| Forward P/E | 13.2× | 19.2× | cheapest of 21 |
| Growth the price implies (Req g, 7 yrs) | 1.5% | 10.1% | least demanding of 20 |
| Growth delivered (Del g) | +3.9% | +11.3% | 4th lowest of 20 |
| Hurdle (Req g minus delivered) | -2.4 pp | -0.9 pp | 8th least demanding of 20 |
| ROIC minus cost of capital | +1.1 pp | +2.5 pp | 10th lowest of 21 |
| EV / EBITDA | 12.6× | 13.3× | 10th cheapest of 19 |
| Net debt / EBITDA | 5.8× | 2.2× | most indebted of 19 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Hotai Motor 2207.TW | Taiwan | $8.90B | +10% | +8% | 11% | 13.2× | 1.5% | +3.9% |
| Core & Main CNM | United States | $8.76B | -6% | -1% | 10% | 14.3× | 5.3% | +16.0% |
| Addtech ADDT-B.ST | Sweden | $8.66B | -2% | +4% | 13% | 30.7× | 19.3% | +14.9% |
| Finning International FTT.TO | Canada | $8.20B | -9% | 0% | 8% | 17.5× | 10.1% | +11.3% |
| Beijer Ref BEIJ-B.ST | Sweden | $8.09B | +27% | +4% | 10% | 28.0× | 14.0% | +21.4% |
| Brenntag BNR.DE | Germany | $10.0B | 0% | -5% | 5% | 14.5× | 1.9% | +5.2% |
| Zhejiang China Commodities City 600415.SS | China | $10.0B | -7% | +22% | 22% | 14.4× | n/a | n/a |
| Reece REH.AX | Australia | $7.83B | +44% | +4% | 6% | 35.5× | 24.2% | +8.4% |
| Applied Industrial Technologies AIT | United States | $10.3B | -8% | +8% | 11% | 23.0× | 8.6% | +8.9% |
| Toromont Industries TIH.TO | Canada | $10.7B | -15% | +16% | 15% | 20.2× | 7.6% | +8.4% |
| MonotaRO 3064.T | Japan | $7.04B | +22% | +19% | 14% | 29.6× | 9.7% | +16.2% |
| Imcd IMCD.AS | Netherlands | $6.80B | +7% | +3% | 8% | 18.2× | 10.9% | +11.5% |
| Bollore BOL.PA | France | $11.8B | -28% | -83% | -7% | 36.9× | 37.0% | -29.4% |
| SGH SGH.AX | Australia | $11.9B | +7% | -1% | 13% | 18.1× | 11.4% | +17.0% |
| Rexel RXL.PA | France | $11.9B | -10% | +1% | 6% | 13.5× | 7.7% | +9.0% |
| QXO QXO | United States | $12.0B | -38% | +408% | -1% | 29.2× | 52.0% | +178.0% |
| Bunzl BNZL.L | United Kingdom | $12.0B | +22% | +2% | 7% | 15.3× | 2.3% | +3.2% |
| Royal Vopak VPK.AS | Netherlands | $6.51B | +14% | +1% | 29% | 15.5× | 8.8% | +1.8% |
| MSC Industrial Direct MSM | United States | $6.33B | +9% | +6% | 9% | 20.1× | 9.0% | +4.3% |
| Diploma DPLM.L | United Kingdom | $12.6B | +4% | +13% | 22% | 27.5× | 23.9% | +23.1% |
| WESCO International WCC | United States | $14.2B | -18% | +14% | 6% | 14.1× | 10.4% | +13.8% |