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Taiwan's largest independent IC testing house, testing logic and memory chips for fabless designers and IDMs.
Taiwan's largest independent IC testing house, testing logic and memory chips for fabless designers and IDMs.
Charges per wafer or chip tested on testers it buys from makers such as Advantest and Teradyne, so earnings depend on keeping an expensive tester fleet busy and on the mix of complex chips. Being independent of chipmakers and packagers lets customers use it as a neutral outsourcer.
In one line: Taiwan's version of a testing-only Amkor business.
Moat: narrow (scale, customer qualification, installed base). Largest pure-play IC test house in Taiwan; test programs are qualified per customer/product, creating stickiness.
Headquarters: Zhunan, Taiwan · Founded: 1987 · Employees: 8,699
Size King Yuan Electronics (2449.TW) is a Taiwan Information Technology company (Miscellaneous Commercial Services) with a market value of $8.00B, the 64th largest of 687 Taiwan companies the cockpit tracks. Shares closed at NT$206.00 on 6 Nov 2026.
Performance Over six months the shares fell 41.8%, against -2.3% for the median peer and -3.4% for the Taiwan market (cap-weighted) — lowest of 21 in its peer set.
Growth Revenue grew 35.2% over the last twelve months (peer median +15.3%); the operating margin is 26.9% (peer median 12.2%).
Valuation It trades at 19.5× forward earnings against a peer median of 14.4× (5th most expensive of 20).
Capital Return on invested capital runs 1.4 points above its cost of capital (8.1% WACC).
Next results Next results expected around 4 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | NT$40.6B | NT$34.9B | NT$26.9B | NT$24.0B | NT$36.8B |
| Revenue growth | — | +30% | +12% | -35% | — |
| Gross profit | NT$14.5B | NT$11.9B | NT$8.79B | NT$7.39B | NT$12.2B |
| EBITDA | NT$20.2B | NT$16.5B | NT$12.6B | NT$11.9B | NT$18.4B |
| Net income | NT$9.33B | NT$11.0B | NT$7.78B | NT$5.84B | NT$6.84B |
| Free cash flow | -NT$13.4B | -NT$19.3B | NT$3.17B | NT$5.95B | NT$8.17B |
| Capital expenditure | NT$30.0B | NT$32.4B | NT$14.9B | NT$7.73B | NT$10.5B |
| Total debt | NT$42.2B | NT$33.1B | NT$21.7B | NT$23.9B | NT$26.8B |
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 |
|---|---|---|---|---|---|---|
| King Yuan Electronics 2449.TW | $8.00B | -42% | +35% | 27% | 19.5× | n/a |
| Ase Technology 3711.TW | $70.4B | +2% | +25% | 11% | 17.3× | n/a |
| ChipMOS Technologies 8150.TW | $1.49B | -17% | +19% | 8% | 12.2× | n/a |
| Amkor Technology AMKR | $8.13B | -57% | +16% | 10% | 12.1× | n/a |
| Powertech Technology 6239.TW | $4.61B | -11% | +24% | 13% | 13.2× | n/a |
Peer set: Sector in the same market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 2449.TW | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -29.9% | -28.5% | 10th lowest of 21 |
| 6-month return | -41.8% | -2.3% | lowest of 21 |
| Distance from 52-week high | -43.5% | -42.8% | 11th highest of 21 |
| Revenue growth (TTM) | +35.2% | +15.3% | 6th highest of 21 |
| Operating margin | 26.9% | 12.2% | 5th highest of 21 |
| Forward P/E | 19.5× | 14.4× | 5th most expensive of 20 |
| ROIC minus cost of capital | +1.4 pp | +6.7 pp | 8th lowest of 20 |
| EV / EBITDA | 14.5× | 12.9× | 5th most expensive of 14 |
| Net debt / EBITDA | 1.4× | -0.5× | 3rd most indebted of 17 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| King Yuan Electronics 2449.TW | Taiwan | $8.00B | -42% | +35% | 27% | 19.5× | n/a | n/a |
| Taiwan Union Technology 6274.TWO | Taiwan | $8.21B | -26% | +87% | 23% | 13.9× | n/a | n/a |
| Powerchip Semiconductor Manufacturing 6770.TW | Taiwan | $7.54B | -5% | +22% | -5% | 7.6× | 11.3% | +0.5% |
| WT Microelectronics 3036.TW | Taiwan | $7.53B | -11% | +70% | 2% | 6.3× | -11.9% | +27.2% |
| Pegatron 4938.TW | Taiwan | $7.52B | +14% | -6% | 1% | 13.1× | n/a | n/a |
| Alchip Technologies Limitd 3661.TW | Taiwan | $7.35B | -32% | -51% | 23% | 14.4× | n/a | n/a |
| Innolux 3481.TW | Taiwan | $8.71B | +32% | +11% | 0% | 62.6× | 37.3% | -3.4% |
| Novatek Microelectronics 3034.TW | Taiwan | $9.16B | +18% | +2% | 20% | 14.1× | -4.2% | +4.7% |
| Vanguard International Semiconductor 5347.TWO | Taiwan | $6.82B | -22% | +10% | 17% | 17.7× | n/a | n/a |
| Tripod Technology 3044.TW | Taiwan | $6.57B | -15% | +21% | 19% | 10.7× | n/a | n/a |
| Phison Electronics 8299.TWO | Taiwan | $10.0B | -29% | +157% | 31% | 3.7× | n/a | n/a |
| International Games System 3293.TWO | Taiwan | $6.27B | 0% | +15% | 59% | 14.4× | -4.0% | +21.2% |
| MPI 6223.TWO | Taiwan | $10.2B | -31% | +38% | 30% | 37.2× | n/a | n/a |
| AUO 2409.TW | Taiwan | $6.02B | +49% | -1% | -2% | n/a | n/a | n/a |
| Gigabyte Technology 2376.TW | Taiwan | $6.01B | +7% | +38% | 5% | 8.1× | n/a | n/a |
| Kinsus Interconnect Technology 3189.TW | Taiwan | $10.7B | +27% | +34% | 14% | 29.4× | 41.2% | +7.7% |
| Compeq Manufacturing 2313.TW | Taiwan | $5.93B | -42% | +8% | 11% | 15.9× | 14.6% | +4.7% |
| Realtek Semiconductor 2379.TW | Taiwan | $11.0B | +33% | +12% | 11% | 19.9× | 8.4% | +9.6% |
| Inventec 2356.TW | Taiwan | $5.71B | +12% | +16% | 2% | 13.2× | n/a | n/a |
| ITEQ 6213.TW | Taiwan | $5.45B | +75% | +16% | 9% | 16.6× | n/a | n/a |
| Lotes 3533.TW | Taiwan | $5.39B | -36% | +13% | 28% | 17.6× | 1.9% | +14.3% |