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Taiwanese maker of automated test and measurement equipment for semiconductors, EVs/batteries and electronics.
Taiwanese maker of automated test and measurement equipment for semiconductors, EVs/batteries and electronics.
In one line: Taiwan's Keysight/National Instruments.
Moat: narrow (process know-how, installed base, IP / patents). Broad test-equipment portfolio and long-standing qualification across semiconductor and EV/battery customers.
Headquarters: Taoyuan, Taiwan · Founded: 1984
Size Chroma Ate (2360.TW) is a Taiwan Information Technology company (Electronic Equipment/Instruments) with a market value of $15.4B, the 40th largest of 687 Taiwan companies the cockpit tracks. Shares closed at NT$1,205 on 6 Nov 2026.
Performance Over six months the shares fell 45.6%, against -20.6% for the median peer and -3.4% for the Taiwan market (cap-weighted) — lowest of 20 in its peer set.
Growth Revenue grew 101.4% over the last twelve months (peer median +14.9%); the operating margin is 38.9% (peer median 20.4%).
Valuation It trades at 18.5× forward earnings against a peer median of 25.0× (3rd cheapest of 21).
Price implies For today's price to make sense, revenue must grow about 19% a year for seven years (Req g). Recent delivered growth is +13%, so the hurdle is +7 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 32.5 points above its cost of capital (9.4% WACC).
Next results Next results expected around 25 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | NT$51.9B | NT$28.3B | NT$21.6B | NT$18.7B | NT$22.1B |
| Revenue growth | — | +31% | +16% | -15% | — |
| Gross profit | NT$31.3B | NT$16.8B | NT$12.2B | NT$10.3B | NT$10.9B |
| EBITDA | n/a | NT$10.0B | NT$6.26B | NT$5.42B | NT$5.72B |
| Net income | NT$17.3B | NT$11.7B | NT$5.26B | NT$3.98B | NT$5.11B |
| Free cash flow | n/a | NT$3.05B | NT$3.22B | NT$1.93B | NT$4.64B |
| Capital expenditure | n/a | NT$2.43B | NT$2.11B | NT$1.64B | NT$698M |
| Total debt | n/a | NT$3.95B | NT$3.91B | NT$3.49B | NT$3.62B |
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 |
|---|---|---|---|---|---|---|
| Chroma Ate 2360.TW | $15.4B | -46% | +101% | 39% | 18.5× | 19.3% |
| Advantest 6857.T | $124B | -1% | +48% | 50% | 27.5× | 36.4% |
| Keysight Technologies KEYS | $46.3B | -24% | +26% | 24% | 20.3× | 20.9% |
| MPI 6223.TWO | $10.2B | -31% | +38% | 30% | 37.2× | 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 | 2360.TW | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -48.2% | -10.8% | lowest of 21 |
| 6-month return | -45.6% | -20.6% | lowest of 20 |
| Distance from 52-week high | -56.5% | -34.2% | 2nd lowest of 21 |
| Revenue growth (TTM) | +101.4% | +14.9% | 2nd highest of 20 |
| Operating margin | 38.9% | 20.4% | 3rd highest of 20 |
| Forward P/E | 18.5× | 25.0× | 3rd cheapest of 21 |
| Growth the price implies (Req g, 7 yrs) | 19.3% | 21.9% | 6th least demanding of 17 |
| Growth delivered (Del g) | +12.8% | +9.9% | 7th highest of 17 |
| Hurdle (Req g minus delivered) | +6.6 pp | +6.2 pp | 8th most demanding of 17 |
| ROIC minus cost of capital | +32.5 pp | +2.6 pp | 2nd highest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Chroma Ate 2360.TW | Taiwan | $15.4B | -46% | +101% | 39% | 18.5× | 19.3% | +12.8% |
| Halma HLMA.L | United Kingdom | $17.0B | -25% | +15% | 20% | 25.0× | 21.7% | +14.4% |
| Semight Instruments 688808.SS | China | $17.0B | n/a | n/a | n/a | 51.5× | n/a | n/a |
| Skyverse Technology 688361.SS | China | $13.8B | +33% | +39% | -12% | 563.2× | n/a | n/a |
| Hangzhou Changchuan Technology 300604.SZ | China | $17.3B | +4% | +53% | 27% | 46.1× | 43.8% | +45.8% |
| Sieyuan Electric 002028.SZ | China | $13.4B | -42% | +35% | 16% | 23.1× | 11.1% | +23.9% |
| Lasertec 6920.T | Japan | $18.2B | -25% | -19% | 44% | 28.7× | 28.9% | +26.8% |
| Hon Precision 7769.TW | Taiwan | $20.0B | -34% | +257% | 48% | 21.3× | 28.2% | +31.0% |
| NVMI NVMI | United States | $9.96B | -40% | +16% | 29% | 25.0× | 32.8% | +26.7% |
| Qnity Electronics Q | United States | $24.5B | -21% | +18% | 23% | 20.2× | 22.1% | 0.0% |
| BOE Technology 000725.SZ | China | $25.3B | +9% | -4% | 2% | 21.4× | -3.9% | +8.6% |
| ONTO ONTO | United States | $8.50B | -39% | +8% | 20% | 16.9× | 29.4% | +12.6% |
| AVIC Chengdu Aircraft 302132.SZ | China | $28.0B | +4% | +3% | 5% | 49.6× | n/a | n/a |
| Hexagon HEXA-B.ST | Sweden | $29.4B | +14% | -20% | -14% | 30.0× | 9.1% | +8.7% |
| Cognex CGNX | United States | $8.04B | -27% | +17% | 22% | 24.8× | 25.6% | +4.2% |
| China Railway Signal & Communication 688009.SS | China | $7.39B | 0% | +1% | 12% | 14.9× | -6.3% | -2.9% |
| Wuhan Guide Infrared 002414.SZ | China | $6.46B | -32% | +89% | 29% | 37.4× | n/a | n/a |
| Legrand LR.PA | France | $38.0B | -16% | +10% | 21% | 22.0× | 15.6% | +9.2% |
| Keysight Technologies KEYS | United States | $46.3B | -24% | +26% | 24% | 20.3× | 20.9% | +5.0% |
| Novanta NOVT | United States | $5.11B | -2% | +8% | 12% | 33.9× | 33.5% | +10.7% |
| INFICON IFCN.SW | Switzerland | $4.51B | 0% | -2% | 17% | 32.8× | 19.7% | +8.4% |