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Major Taiwanese maker of keyboards, webcams and power adapters, a key supplier to Apple, HP and Dell notebooks.
Major Taiwanese maker of keyboards, webcams and power adapters, a key supplier to Apple, HP and Dell notebooks.
Wins a place in each notebook model of the big PC brands and ships components for that model's life, so volumes follow those brands' laptop output and sourcing choices. Adapters and webcams sell to many of the same customers, so each laptop program can carry several of its parts.
In one line: A key hidden supplier inside Apple/HP/Dell laptops.
Moat: narrow (customer qualification, scale). Long-tenured qualified component supplier deeply embedded in major PC/notebook OEM supply chains.
Headquarters: New Taipei City, Taiwan · Founded: 1984
Size Chicony Electronics (2385.TW) is a Taiwan Information Technology company (Computer Peripherals) with a market value of $1.96B, the 171st largest of 687 Taiwan companies the cockpit tracks. Shares closed at NT$89.20 on 6 Nov 2026.
Performance Over six months the shares fell 31.4%, against -20.4% for the median peer and -3.4% for the Taiwan market (cap-weighted) — 4th lowest of 21 in its peer set.
Growth Revenue fell 8.4% over the last twelve months (peer median +8.9%); the operating margin is 6.6% (peer median 3.8%).
Valuation It trades at 15.4× forward earnings against a peer median of 23.4× (4th cheapest of 13).
Price implies For today's price to make sense, revenue must grow about -10% a year for seven years (Req g). Recent delivered growth is 0%, so the hurdle is -10 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 7.5 points above its cost of capital (5.0% WACC).
Next results Next results expected around 17 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | NT$93.1B | NT$95.7B | NT$101B | NT$98.3B | NT$116B |
| Revenue growth | — | -6% | +3% | -15% | — |
| Gross profit | NT$14.7B | NT$16.6B | NT$19.8B | NT$18.4B | NT$20.0B |
| EBITDA | NT$8.75B | NT$10.6B | NT$13.1B | NT$12.4B | NT$13.6B |
| Net income | NT$6.54B | NT$6.58B | NT$9.05B | NT$7.46B | NT$7.32B |
| Free cash flow | NT$1.04B | NT$5.41B | NT$8.42B | NT$15.6B | NT$12.9B |
| Capital expenditure | NT$3.27B | NT$3.65B | NT$3.04B | NT$4.04B | NT$3.44B |
| Total debt | NT$14.1B | NT$9.05B | NT$6.66B | NT$1.64B | NT$3.23B |
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 |
|---|---|---|---|---|---|---|
| Chicony Electronics 2385.TW | $1.96B | -31% | -8% | 7% | 15.4× | -9.6% |
| SINBON Electronics 3023.TW | $1.88B | -11% | +9% | 10% | 15.4× | -0.1% |
| Primax Electronics 4915.TW | $744M | -29% | +9% | 4% | 10.5× | n/a |
| Hon Hai Precision Industry 2317.TW | $95.6B | -3% | +25% | 4% | 10.5× | 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 | 2385.TW | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -15.1% | -8.0% | 6th lowest of 21 |
| 6-month return | -31.4% | -20.4% | 4th lowest of 21 |
| Distance from 52-week high | -40.3% | -42.9% | 10th highest of 21 |
| Revenue growth (TTM) | -8.4% | +8.9% | 3rd lowest of 21 |
| Operating margin | 6.6% | 3.8% | 10th highest of 21 |
| Forward P/E | 15.4× | 23.4× | 4th cheapest of 13 |
| Growth the price implies (Req g, 7 yrs) | -9.6% | 23.2% | 2nd least demanding of 11 |
| Growth delivered (Del g) | +0.1% | +4.9% | 4th lowest of 11 |
| Hurdle (Req g minus delivered) | -9.7 pp | +10.9 pp | 4th least demanding of 11 |
| ROIC minus cost of capital | +7.5 pp | -0.0 pp | 10th highest of 21 |
| EV / EBITDA | 5.9× | 17.3× | 3rd cheapest of 8 |
| Net debt / EBITDA | -2.5× | -0.2× | 2nd least indebted of 9 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Chicony Electronics 2385.TW | Taiwan | $1.96B | -31% | -8% | 7% | 15.4× | -9.6% | +0.1% |
| Beijing Dahao Technology 603025.SS | China | $2.04B | -25% | +23% | 29% | n/a | 7.4% | +29.2% |
| Tianma Microelectronics 000050.SZ | China | $2.05B | -27% | -3% | -1% | 29.5× | -6.2% | +4.4% |
| Kardex KARN.SW | Switzerland | $2.35B | -9% | +3% | 9% | 30.3× | 11.8% | +12.5% |
| Netweb Technologies India NETWEB.NS | India | $2.37B | -12% | +175% | 13% | 55.9× | 46.1% | +72.5% |
| InfoVision Optoelectronics (Kunshan) 688055.SS | China | $1.56B | -23% | -24% | -19% | n/a | n/a | n/a |
| Societe Industrielle & Financiere de l'Artois ARTO.PA | France | $2.55B | -26% | -6% | -8% | n/a | n/a | n/a |
| Newland Digital Technology 000997.SZ | China | $2.56B | -14% | +29% | 11% | 16.0× | n/a | n/a |
| Venustech 002439.SZ | China | $2.58B | -9% | 0% | -16% | 169.0× | 19.0% | -8.6% |
| Nancal Technology 603859.SS | China | $1.49B | -5% | +10% | 12% | 42.5× | n/a | n/a |
| Toyou Feiji Electronics 300302.SZ | China | $1.49B | -24% | +5% | -15% | n/a | n/a | n/a |
| VusionGroup VU.PA | France | $2.61B | +11% | +45% | 10% | 16.5× | n/a | n/a |
| Innodisk 5289.TWO | Taiwan | $2.76B | -35% | +334% | 49% | 2.5× | n/a | n/a |
| Visionox Technology 002387.SZ | China | $1.35B | -20% | -1% | -35% | n/a | 50.6% | +18.9% |
| AURAS Technology 3324.TWO | Taiwan | $2.90B | -10% | +71% | 16% | 15.1× | n/a | n/a |
| Scantech (Hangzhou) 688583.SS | China | $1.31B | -20% | +4% | 1% | n/a | n/a | n/a |
| NSFOCUS Technologies 300369.SZ | China | $1.29B | +45% | +8% | -4% | 266.0× | 38.1% | +4.9% |
| Hua Ying Technology (Group) 000536.SZ | China | $1.27B | -23% | -13% | -54% | n/a | 47.9% | -8.6% |
| FIH Mobile 2038.HK | Hong Kong | $1.24B | -51% | +17% | 1% | n/a | -11.2% | -5.6% |
| Extreme Networks EXTR | United States | $3.15B | 0% | +11% | 6% | 17.2× | 27.3% | +4.9% |
| ADATA Technology 3260.TWO | Taiwan | $3.16B | -33% | +125% | 34% | 4.5× | n/a | n/a |