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Taiwanese PCB maker (rigid and flexible boards) for smartphones, servers and automotive customers.
Taiwanese PCB maker (rigid and flexible boards) for smartphones, servers and automotive customers.
Moat: none (process know-how). PCB manufacturing is competitive and capital-intensive.
Headquarters: Taipei, Taiwan · Founded: 1973
Size Compeq Manufacturing (2313.TW) is a Taiwan Information Technology company (Electronic Components) with a market value of $5.93B, the 81st largest of 687 Taiwan companies the cockpit tracks. Shares closed at NT$159.00 on 6 Nov 2026.
Performance Over six months the shares fell 41.7%, against -14.5% for the median peer and -3.4% for the Taiwan market (cap-weighted) — 6th lowest of 20 in its peer set.
Growth Revenue grew 7.5% over the last twelve months (peer median +28.2%); the operating margin is 10.8% (peer median 11.7%).
Valuation It trades at 15.9× forward earnings against a peer median of 29.7× (4th cheapest of 19).
Price implies For today's price to make sense, revenue must grow about 15% a year for seven years (Req g). Recent delivered growth is +5%, so the hurdle is +10 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 6.7 points above its cost of capital (7.9% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | NT$80.6B | NT$76.0B | NT$72.5B | NT$67.1B | NT$76.4B |
| Revenue growth | — | +5% | +8% | -12% | — |
| Gross profit | NT$15.0B | NT$14.0B | NT$11.5B | NT$10.0B | NT$15.4B |
| EBITDA | NT$14.7B | NT$14.0B | NT$11.9B | NT$10.8B | NT$15.3B |
| Net income | NT$7.40B | NT$6.57B | NT$5.60B | NT$4.17B | NT$8.00B |
| Free cash flow | NT$212M | NT$3.26B | NT$6.59B | NT$5.47B | NT$7.18B |
| Capital expenditure | NT$8.33B | NT$6.68B | NT$5.88B | NT$6.80B | NT$7.49B |
| Total debt | NT$21.4B | NT$13.2B | NT$13.9B | NT$15.5B | NT$16.3B |
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 |
|---|---|---|---|---|---|---|
| Compeq Manufacturing 2313.TW | $5.93B | -42% | +8% | 11% | 15.9× | 14.6% |
| Zhen Ding Technology Holding Lt 4958.TW | $12.8B | -12% | +5% | 9% | 18.4× | n/a |
| Unimicron Technology 3037.TW | $35.4B | -19% | +33% | 13% | 20.1× | 45.9% |
| Tripod Technology 3044.TW | $6.57B | -15% | +21% | 19% | 10.7× | 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 | 2313.TW | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -36.0% | -31.4% | 7th lowest of 21 |
| 6-month return | -41.7% | -14.5% | 6th lowest of 20 |
| Distance from 52-week high | -47.6% | -50.7% | 10th highest of 21 |
| Revenue growth (TTM) | +7.5% | +28.2% | 3rd lowest of 21 |
| Operating margin | 10.8% | 11.7% | 10th lowest of 21 |
| Forward P/E | 15.9× | 29.7× | 4th cheapest of 19 |
| Growth the price implies (Req g, 7 yrs) | 14.6% | 37.8% | 2nd least demanding of 7 |
| Growth delivered (Del g) | +4.7% | +10.5% | 2nd lowest of 7 |
| Hurdle (Req g minus delivered) | +9.9 pp | +17.4 pp | 3rd least demanding of 7 |
| ROIC minus cost of capital | +6.7 pp | -2.2 pp | 6th highest of 21 |
| EV / EBITDA | 13.3× | 25.2× | 5th cheapest of 9 |
| Net debt / EBITDA | -0.1× | -0.3× | 5th least indebted of 9 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Compeq Manufacturing 2313.TW | Taiwan | $5.93B | -42% | +8% | 11% | 15.9× | 14.6% | +4.7% |
| Shenzhen Everwin Precision Technology 300115.SZ | China | $5.95B | -12% | +19% | 2% | 124.0× | n/a | n/a |
| Founder Technology 600601.SS | China | $5.70B | -27% | +73% | 19% | 47.6× | n/a | n/a |
| Taiyo Yuden 6976.T | Japan | $5.63B | +4% | +6% | 6% | 28.8× | 47.0% | +3.4% |
| ITEQ 6213.TW | Taiwan | $5.45B | +75% | +16% | 9% | 16.6× | n/a | n/a |
| Advanced Fiber Resources Zhuhai 300620.SZ | China | $6.50B | -27% | +86% | 18% | 107.0× | n/a | n/a |
| Lotes 3533.TW | Taiwan | $5.39B | -36% | +13% | 28% | 17.6× | 1.9% | +14.3% |
| Shenzhen Fastprint Circuit Tech 002436.SZ | China | $6.54B | -7% | +26% | 6% | 57.3× | n/a | n/a |
| Dynamic Electronics 603175.SS | China | $5.37B | -15% | +15% | 5% | n/a | n/a | n/a |
| Tripod Technology 3044.TW | Taiwan | $6.57B | -15% | +21% | 19% | 10.7× | n/a | n/a |
| Jiangxi Redboard Technology 603459.SS | China | $6.70B | -4% | +36% | 17% | n/a | 53.4% | +36.1% |
| Orbbec 688322.SS | China | $6.73B | +37% | +1% | 0% | 202.4× | n/a | n/a |
| VICR VICR | United States | $6.78B | -43% | +41% | 25% | 25.9× | 46.0% | +6.6% |
| TTM Technologies TTMI | United States | $7.01B | -58% | +38% | 12% | 8.5× | 24.1% | +6.7% |
| Sichuan Huafeng Technology 688629.SS | China | $4.85B | -49% | +46% | 9% | 87.5× | n/a | n/a |
| Wuhan Jingce Electronic 300567.SZ | China | $4.80B | -14% | +31% | 0% | 119.3× | n/a | n/a |
| Guangdong Kingshine Electronic Technology 300903.SZ | China | $4.69B | +45% | +36% | 4% | 276.3× | n/a | n/a |
| Silergy 6415.TW | Taiwan | $4.58B | -11% | +13% | 12% | 30.5× | n/a | n/a |
| Camtek CAMT | United States | $4.53B | -53% | +12% | 23% | 19.6× | 29.7% | +26.1% |
| Shenzhen Kinwong Electronic 3228.HK | Hong Kong | $7.87B | n/a | +40% | 12% | 15.8× | n/a | n/a |
| Delton Technology (Guangzhou) 001389.SZ | China | $4.43B | -48% | +77% | 25% | 18.6× | n/a | n/a |