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World's largest maker of passive electronic components (multilayer ceramic capacitors, resistors) after acquiring KEMET.
World's largest maker of passive electronic components (multilayer ceramic capacitors, resistors) after acquiring KEMET.
Sells passive components, small parts that store charge or limit current, in huge volumes to electronics makers, so prices swing with demand and inventory cycles. Growth has come largely through acquisitions: Pulse Electronics in 2018 and KEMET in 2020, which added tantalum and film capacitors. Its founder, Pierre Chen, leads the company.
In one line: The world's largest MLCC/passives maker, akin to a bigger AVX/KEMET combined.
Moat: narrow (scale, cost advantage, distribution). Largest global passives scale after KEMET/Pulse acquisitions; individual components remain price-competitive.
Headquarters: Kaohsiung, Taiwan · Founded: 1977
Size Yageo (2327.TW) is a Taiwan Information Technology company (Electronic Production Equipment) with a market value of $23.3B, the 24th largest of 687 Taiwan companies the cockpit tracks. Shares closed at NT$374.00 on 6 Nov 2026.
Performance Over six months the shares gained 8.1%, against -31.1% for the median peer and -3.4% for the Taiwan market (cap-weighted) — highest of 14 in its peer set.
Growth Revenue grew 32.4% over the last twelve months (peer median +31.7%); the operating margin is 26.6% (peer median 16.8%).
Valuation It trades at 13.9× forward earnings against a peer median of 17.5× (6th cheapest of 14).
Price implies For today's price to make sense, revenue must grow about 18% a year for seven years (Req g). Recent delivered growth is +14%, 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 6.3 points above its cost of capital (12.5% WACC).
Next results Next results expected around 18 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | NT$168B | NT$133B | NT$122B | NT$108B | NT$121B |
| Revenue growth | — | +9% | +13% | -11% | — |
| Gross profit | NT$72.2B | NT$46.5B | NT$39.8B | NT$34.5B | NT$44.6B |
| EBITDA | n/a | NT$39.6B | NT$33.0B | NT$29.2B | NT$36.7B |
| Net income | NT$36.2B | NT$23.6B | NT$19.4B | NT$17.4B | NT$22.7B |
| Free cash flow | n/a | NT$24.9B | NT$24.6B | NT$14.1B | NT$18.1B |
| Capital expenditure | n/a | NT$6.31B | NT$6.93B | NT$16.9B | NT$13.9B |
| Total debt | n/a | NT$151B | NT$143B | NT$137B | NT$96.2B |
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 |
|---|---|---|---|---|---|---|
| Yageo 2327.TW | $23.3B | +8% | +32% | 27% | 13.9× | 17.7% |
| Murata Manufacturing 6981.T | $57.1B | -5% | +15% | 20% | 23.0× | 29.8% |
| SamsungElecMech 009150.KS | $47.2B | +5% | +22% | 12% | 38.7× | 42.8% |
| Tdk 6762.T | $25.4B | -27% | +25% | 10% | 15.0× | 18.2% |
| Vishay Intertechnology VSH | $3.57B | -32% | +18% | 5% | 13.2× | 18.8% |
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 | 2327.TW | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -40.3% | -30.7% | 4th lowest of 16 |
| 6-month return | +8.1% | -31.1% | highest of 14 |
| Distance from 52-week high | -69.3% | -53.4% | 2nd lowest of 16 |
| Revenue growth (TTM) | +32.4% | +31.7% | 8th highest of 16 |
| Operating margin | 26.6% | 16.8% | 4th highest of 16 |
| Forward P/E | 13.9× | 17.5× | 6th cheapest of 14 |
| Growth the price implies (Req g, 7 yrs) | 17.7% | 17.8% | 6th least demanding of 12 |
| Growth delivered (Del g) | +14.5% | +10.5% | 5th highest of 12 |
| Hurdle (Req g minus delivered) | +3.2 pp | +12.9 pp | 3rd least demanding of 12 |
| ROIC minus cost of capital | +6.3 pp | +6.4 pp | 8th lowest of 16 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Yageo 2327.TW | Taiwan | $23.3B | +8% | +32% | 27% | 13.9× | 17.7% | +14.5% |
| Flex FLEX | United States | $25.8B | -51% | +18% | 6% | 11.2× | 15.9% | +3.0% |
| Asia Vital Components 3017.TW | Taiwan | $27.4B | -15% | +99% | 24% | 17.5× | 9.0% | +28.6% |
| HKC 001399.SZ | China | $18.2B | n/a | +2% | 10% | n/a | 30.7% | +17.5% |
| Teradyne TER | United States | $34.1B | -39% | +75% | 33% | 20.2× | 20.9% | +0.4% |
| Quanta Computer 2382.TW | Taiwan | $36.0B | -10% | +63% | 3% | 10.1× | n/a | n/a |
| Shenzhen Jlc Technology Group Co Lt 001232.SZ | China | $12.9B | n/a | +28% | 15% | n/a | 52.7% | +28.4% |
| MPI 6223.TWO | Taiwan | $10.2B | -31% | +38% | 30% | 37.2× | n/a | n/a |
| Phison Electronics 8299.TWO | Taiwan | $10.0B | -29% | +157% | 31% | 3.7× | n/a | n/a |
| Murata Manufacturing 6981.T | Japan | $57.1B | -5% | +15% | 20% | 23.0× | 29.8% | +2.3% |
| Littelfuse LFUS | United States | $9.04B | -22% | +19% | 18% | 16.3× | 15.3% | +10.5% |
| Advanced Energy Industries AEIS | United States | $7.98B | -45% | +32% | 17% | 11.7× | 17.8% | +4.9% |
| Sanmina SANM | United States | $7.22B | -46% | +59% | 5% | 10.7× | 6.8% | +3.2% |
| Delta Electronic 2308.TW | Taiwan | $82.9B | -51% | +38% | 17% | 19.0× | 18.5% | +14.4% |
| Universal Scientific Industrial (Shanghai) 601231.SS | China | $6.50B | -52% | +4% | 3% | 19.6× | n/a | n/a |
| BYD Electronic 0285.HK | Hong Kong | $6.15B | -24% | +4% | 1% | 19.5× | -0.8% | +18.8% |