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Taiwan's largest fabless chip designer, making chipsets for smartphones, smart TVs and Wi-Fi, plus growing AI/ASIC silicon.
Taiwan's largest fabless chip designer, making chipsets for smartphones, smart TVs and Wi-Fi, plus growing AI/ASIC silicon.
Designs chips and has TSMC make them. Earns most of its income selling phone processors to Android makers, from budget to premium models, and also sells chips for TVs, Wi-Fi and other devices. Custom AI chip projects for cloud customers are a newer line. It was spun out of the chipmaker UMC in 1997.
In one line: Taiwan's Qualcomm.
Moat: narrow (IP / patents, scale, process know-how). Broad SoC IP portfolio and scale in mid-range mobile chips, but competes hard against Qualcomm at the high end.
Headquarters: Hsinchu, Taiwan · Founded: 1997 · Employees: 22,869
Size Mediatek (2454.TW) is a Taiwan Information Technology company (Semiconductors) with a market value of $164B, the 2nd largest of 687 Taiwan companies the cockpit tracks. Shares closed at NT$3,390 on 6 Nov 2026.
Performance Over six months the shares gained 7.5%, against -16.2% for the median peer and -3.4% for the Taiwan market (cap-weighted) — 2nd highest of 19 in its peer set.
Growth Revenue grew 6.1% over the last twelve months (peer median +23.7%); the operating margin is 15.3% (peer median 26.5%).
Valuation It trades at 24.7× forward earnings against a peer median of 24.6× (10th most expensive of 20).
Price implies For today's price to make sense, revenue must grow about 41% a year for seven years (Req g). Recent delivered growth is +13%, so the hurdle is +28 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 2.5 points above its cost of capital (13.8% WACC).
Next results Next results expected around 28 Jan 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | NT$620B | NT$596B | NT$531B | NT$433B | NT$549B |
| Revenue growth | — | +12% | +22% | -21% | — |
| Gross profit | NT$287B | NT$261B | NT$243B | NT$189B | NT$256B |
| EBITDA | n/a | NT$126B | NT$123B | NT$89.9B | NT$142B |
| Net income | NT$99.3B | NT$105B | NT$106B | NT$77.0B | NT$118B |
| Free cash flow | n/a | NT$143B | NT$140B | NT$152B | NT$131B |
| Capital expenditure | n/a | NT$25.4B | NT$22.5B | NT$16.8B | NT$18.9B |
| Total debt | n/a | NT$13.7B | NT$18.3B | NT$16.7B | NT$15.7B |
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 |
|---|---|---|---|---|---|---|
| Mediatek 2454.TW | $164B | +7% | +6% | 15% | 24.7× | 40.7% |
| Qualcomm QCOM | $177B | -24% | +2% | 24% | 17.0× | 15.9% |
| SamsungElec 005930.KS | $886B | -14% | +88% | 46% | 4.0× | -7.2% |
| Broadcom AVGO | $1.40T | -32% | +49% | 49% | 16.9× | 26.6% |
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 | 2454.TW | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -34.4% | -21.8% | 6th lowest of 21 |
| 6-month return | +7.5% | -16.2% | 2nd highest of 19 |
| Distance from 52-week high | -38.1% | -49.5% | 10th highest of 21 |
| Revenue growth (TTM) | +6.1% | +23.7% | 2nd lowest of 21 |
| Operating margin | 15.3% | 26.5% | 7th lowest of 21 |
| Forward P/E | 24.7× | 24.6× | 10th most expensive of 20 |
| Growth the price implies (Req g, 7 yrs) | 40.7% | 27.6% | 4th most demanding of 16 |
| Growth delivered (Del g) | +13.1% | +14.4% | 8th lowest of 16 |
| Hurdle (Req g minus delivered) | +27.6 pp | +10.8 pp | 4th most demanding of 16 |
| ROIC minus cost of capital | +2.5 pp | +3.6 pp | 10th lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Mediatek 2454.TW | Taiwan | $164B | +7% | +6% | 15% | 24.7× | 40.7% | +13.1% |
| Analog Devices ADI | United States | $176B | -13% | +34% | 36% | 22.4× | 27.8% | +14.5% |
| Qualcomm QCOM | United States | $177B | -24% | +2% | 24% | 17.0× | 15.9% | +5.1% |
| KLA KLAC | United States | $180B | -26% | +16% | 43% | 22.3× | 23.5% | +14.4% |
| Arm ARM | United States | $204B | -18% | +25% | 17% | 67.7× | n/a | n/a |
| Marvell Technology MRVL | United States | $124B | -17% | +31% | 17% | 25.0× | 54.4% | +22.5% |
| Texas Instruments TXN | United States | $253B | -4% | +20% | 41% | 24.6× | 23.3% | +4.1% |
| Intel INTC | United States | $299B | -55% | +12% | 11% | 39.9× | 46.1% | -7.5% |
| Kioxia 285A.T | Japan | $88.9B | +139% | +265% | 70% | 2.5× | -3.0% | +18.8% |
| Zhongji Innolight 3308.HK | Hong Kong | $80.7B | n/a | +177% | 41% | 16.7× | 27.6% | +39.3% |
| SMIC 0981.HK | Hong Kong | $76.7B | -41% | +20% | 9% | 32.9× | n/a | n/a |
| Cambricon Technologies 688256.SS | China | $75.7B | -30% | +104% | 33% | 87.3× | n/a | n/a |
| Ase Technology 3711.TW | Taiwan | $70.4B | +2% | +25% | 11% | 17.3× | n/a | n/a |
| Infineon Technologies IFX.DE | Germany | $66.8B | -33% | +6% | 13% | 26.0× | 30.2% | +11.3% |
| CXMT 688825.SS | China | $411B | n/a | +156% | 13% | n/a | n/a | n/a |
| NXP Semiconductors NXPI | United States | $62.6B | -15% | +15% | 30% | 14.1× | 16.3% | +7.3% |
| TE Connectivity TEL | United States | $59.5B | +1% | +15% | 22% | 15.1× | 8.2% | +5.9% |
| Monolithic Power Systems MPWR | United States | $58.1B | -26% | +40% | 30% | 28.3× | 39.6% | +27.0% |
| ASML ASML.AS | Netherlands | $550B | -6% | +23% | 39% | 31.1× | 28.9% | +18.5% |
| SamsungElecMech 009150.KS | South Korea | $47.2B | +5% | +22% | 12% | 38.7× | 42.8% | +7.9% |
| SK hynix 000660.KS | South Korea | $608B | -12% | +220% | 74% | 3.1× | -3.1% | +24.9% |