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Taiwan LED packaging and manufacturing company making LEDs for lighting, displays, automotive and sensing applications.
Taiwan LED packaging and manufacturing company making LEDs for lighting, displays, automotive and sensing applications.
Packages LED chips, mostly bought from chipmakers, into finished components, so it earns the packaging margin on top of chip cost, and also makes optocouplers, parts that pass signals using light across an insulating gap. Lighting and backlight LEDs compete mostly on price, while automotive and infrared parts are less commoditised.
In one line: One of the older global LED packaging makers.
Moat: none (scale, IP / patents). Long-running LED packager in a commoditized, price-competitive global LED market.
Headquarters: New Taipei City, Taiwan · Founded: 1983 · Employees: 4,048
Size Everlight Electronics (2393.TW) is a Taiwan Information Technology company (Semiconductors) with a market value of $807M, the 311th largest of 687 Taiwan companies the cockpit tracks. Shares closed at NT$60.20 on 6 Nov 2026.
Performance Over six months the shares fell 16.7%, against -25.6% for the median peer and -3.4% for the Taiwan market (cap-weighted) — 7th highest of 19 in its peer set.
Growth Revenue fell 3.2% over the last twelve months (peer median +28.3%); the operating margin is 9.8% (peer median -2.2%).
Valuation It trades at 13.3× forward earnings against a peer median of 26.2× (cheapest of 8).
Price implies For today's price to make sense, revenue must grow about -12% a year for seven years (Req g). Recent delivered growth is -2%, so the hurdle is -10 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 12.1 points above its cost of capital (5.0% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | NT$19.9B | NT$19.6B | NT$21.0B | NT$17.8B | NT$19.9B |
| Revenue growth | — | -6% | +18% | -10% | — |
| Gross profit | NT$5.03B | NT$5.65B | NT$5.92B | NT$4.75B | NT$5.07B |
| EBITDA | NT$2.86B | NT$3.38B | NT$3.43B | NT$2.92B | NT$2.92B |
| Net income | NT$2.08B | NT$2.04B | NT$2.94B | NT$1.47B | NT$1.23B |
| Free cash flow | NT$1.49B | NT$2.70B | NT$2.35B | NT$2.58B | NT$2.64B |
| Capital expenditure | NT$794M | NT$489M | NT$578M | NT$480M | NT$1.26B |
| Total debt | NT$1.20B | NT$1.19B | NT$1.11B | NT$583M | NT$894M |
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 |
|---|---|---|---|---|---|---|
| Everlight Electronics 2393.TW | $807M | -17% | -3% | 10% | 13.3× | -11.7% |
| Ennostar 3714.TW | $2.23B | -23% | -5% | -13% | n/a | n/a |
| Seoul Semiconductor 046890.KS | $358M | -48% | 0% | 0% | 77.0× | 28.9% |
| Sanan Optoelectronics 600703.SS | $6.87B | -33% | -22% | -7% | n/a | 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 | 2393.TW | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -10.2% | -17.0% | 9th highest of 21 |
| 6-month return | -16.7% | -25.6% | 7th highest of 19 |
| Distance from 52-week high | -19.7% | -47.8% | highest of 21 |
| Revenue growth (TTM) | -3.2% | +28.3% | 6th lowest of 21 |
| Operating margin | 9.8% | -2.2% | 7th highest of 21 |
| Forward P/E | 13.3× | 26.2× | cheapest of 8 |
| Growth the price implies (Req g, 7 yrs) | -11.7% | 17.9% | least demanding of 10 |
| Growth delivered (Del g) | -1.9% | +2.6% | 2nd lowest of 10 |
| Hurdle (Req g minus delivered) | -9.8 pp | +1.3 pp | 3rd least demanding of 10 |
| ROIC minus cost of capital | +12.1 pp | -6.6 pp | 3rd highest of 20 |
| EV / EBITDA | 5.6× | 19.1× | cheapest of 4 |
| Net debt / EBITDA | -3.9× | 0.3× | 2nd least indebted of 5 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Everlight Electronics 2393.TW | Taiwan | $807M | -17% | -3% | 10% | 13.3× | -11.7% | -1.9% |
| Hangzhou Star Shuaier Electric Appliance 002860.SZ | China | $810M | +16% | -14% | 7% | 24.6× | 19.8% | +18.4% |
| Wuxi ETEK Microelectronics 688601.SS | China | $799M | -25% | +15% | -5% | 14.3× | n/a | n/a |
| Henan Ancai Hi-Tech 600207.SS | China | $797M | -13% | -41% | -39% | n/a | n/a | n/a |
| General Interface Solution (GIS) 6456.TW | Taiwan | $824M | 0% | -19% | -3% | n/a | n/a | n/a |
| Crealights Technology 1191.HK | Hong Kong | $790M | n/a | +42% | -7% | n/a | n/a | n/a |
| Infotmic 000670.SZ | China | $782M | -18% | +38% | 2% | n/a | n/a | n/a |
| PixArt Imaging 3227.TWO | Taiwan | $781M | -20% | +5% | 18% | 14.0× | 0.0% | +2.3% |
| Etron Technology 5351.TWO | Taiwan | $835M | +13% | +246% | 21% | n/a | 3.3% | +2.6% |
| Smarter Microelectronics (Guangzhou) 688512.SS | China | $835M | -11% | +43% | -30% | n/a | n/a | n/a |
| Shenzhen Topray Solar 002218.SZ | China | $779M | -32% | -8% | -17% | n/a | 35.9% | -5.6% |
| SENASIC Electronics Technology 6675.HK | Hong Kong | $779M | n/a | +45% | -11% | n/a | n/a | n/a |
| Aeva Technologies AEVA | United States | $767M | -34% | +56% | -611% | n/a | n/a | n/a |
| Tech Semiconductors 300046.SZ | China | $766M | -33% | +27% | 8% | n/a | 45.7% | -1.6% |
| CEVA CEVA | United States | $763M | -27% | +9% | -10% | 39.7× | n/a | n/a |
| Myson Century 5314.TWO | Taiwan | $759M | -39% | +235% | 19% | n/a | 9.2% | +172.5% |
| Taiwan Speciality Chemicals 4772.TWO | Taiwan | $862M | -38% | +164% | 40% | 26.2× | 11.0% | +36.7% |
| Canadian Solar CSIQ | United States | $755M | -45% | -16% | -2% | n/a | n/a | n/a |
| Episil-Precision 3016.TW | Taiwan | $865M | -10% | +30% | 14% | 35.7× | 40.5% | -0.7% |
| Netac Technology 300042.SZ | China | $872M | -44% | +103% | 10% | 33.0× | n/a | n/a |
| VIA Technologies 2388.TW | Taiwan | $874M | -35% | -3% | -12% | n/a | 17.9% | +8.0% |