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Employees: 172
Size Cathay Real Estate Development (2501.TW) is a Taiwan Consumer Discretionary company (Homebuilding) with a market value of $719M, the 337th largest of 687 Taiwan companies the cockpit tracks. Shares closed at NT$20.50 on 6 Nov 2026.
Performance Over six months the shares fell 8.9%, against -6.9% for the median peer and -3.4% for the Taiwan market (cap-weighted) — 10th lowest of 21 in its peer set.
Growth Revenue grew 13.9% over the last twelve months (peer median +7.3%); the operating margin is 19.4% (peer median 5.4%).
Valuation It trades at 6.8× forward earnings against a peer median of 18.5× (2nd cheapest of 13).
Price implies For today's price to make sense, revenue must grow about -21% a year for seven years (Req g). Recent delivered growth is +12%, so the hurdle is -32 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 7.8 points above its cost of capital (5.0% WACC).
Next results Next results expected around 18 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | NT$28.4B | NT$24.3B | NT$23.9B | NT$15.5B | NT$16.8B |
| Revenue growth | — | +2% | +54% | -8% | — |
| Gross profit | NT$8.79B | NT$6.41B | NT$4.79B | NT$4.01B | NT$3.43B |
| EBITDA | n/a | NT$5.28B | NT$3.55B | NT$3.62B | NT$2.69B |
| Net income | NT$4.45B | NT$3.28B | NT$1.58B | NT$2.16B | NT$1.21B |
| Free cash flow | n/a | NT$5.17B | NT$2.37B | -NT$3.05B | -NT$2.24B |
| Capital expenditure | n/a | NT$183M | NT$272M | NT$299M | NT$1.61B |
| Total debt | n/a | NT$38.5B | NT$42.6B | NT$42.1B | NT$43.6B |
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.
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 | 2501.TW | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +0.7% | -0.4% | 7th highest of 21 |
| 6-month return | -8.9% | -6.9% | 10th lowest of 21 |
| Distance from 52-week high | -27.8% | -30.6% | 10th highest of 21 |
| Revenue growth (TTM) | +13.9% | +7.3% | 8th highest of 21 |
| Operating margin | 19.4% | 5.4% | 5th highest of 21 |
| Forward P/E | 6.8× | 18.5× | 2nd cheapest of 13 |
| Growth the price implies (Req g, 7 yrs) | -20.7% | -3.9% | least demanding of 16 |
| Growth delivered (Del g) | +11.7% | -1.4% | 2nd highest of 16 |
| Hurdle (Req g minus delivered) | -32.4 pp | -0.1 pp | least demanding of 16 |
| ROIC minus cost of capital | +7.8 pp | -0.4 pp | 4th highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Cathay Real Estate Development 2501.TW | Taiwan | $719M | -9% | +14% | 19% | 6.8× | -20.7% | +11.7% |
| Legacy Housing LEGH | United States | $694M | +25% | -3% | 33% | 14.1× | 3.5% | -1.4% |
| Takamatsu Construction 1762.T | Japan | $769M | +16% | +6% | 6% | 9.5× | n/a | n/a |
| Chongqing Construction Engineering 600939.SS | China | $773M | -11% | -28% | -4% | n/a | -7.9% | -16.8% |
| Tokyu Construction 1720.T | Japan | $774M | -21% | +11% | 5% | 9.3× | -13.6% | +8.1% |
| Atal 1AT.WA | Poland | $668M | -5% | +40% | 26% | 5.7× | -3.9% | +1.8% |
| Shenzhen Centralcon Investment 000042.SZ | China | $637M | -34% | +116% | 14% | n/a | -14.2% | -24.7% |
| Run Long Construction 1808.TW | Taiwan | $844M | +10% | +741% | 25% | n/a | -12.0% | -3.2% |
| Kindom Development 2520.TW | Taiwan | $600M | +15% | +10% | 16% | 7.0× | -13.2% | -3.5% |
| Hovnanian Enterprises HOV | United States | $594M | -6% | -10% | 3% | 25.4× | 4.8% | +4.9% |
| Shanghai Tongji Science & Technology Industrial 600846.SS | China | $870M | -27% | +51% | 3% | n/a | 7.8% | -6.8% |
| Dexterra DXT.TO | Canada | $876M | +59% | +9% | 6% | 24.0× | 5.1% | +17.2% |
| Huaku Development 2548.TW | Taiwan | $928M | -21% | +331% | 22% | 19.9× | -18.6% | +10.0% |
| China Wuyi 000797.SZ | China | $517M | -24% | +78% | -5% | n/a | -8.0% | +4.2% |
| Black Diamond BDI.TO | Canada | $1.02B | +25% | +26% | 12% | 32.7× | n/a | n/a |
| Smith Douglas Homes SDHC | United States | $499M | -25% | 0% | 3% | 60.2× | n/a | n/a |
| GC Construction 1489.HK | Hong Kong | $495M | +646% | -51% | -23% | n/a | 30.4% | -10.0% |
| LGI Homes LGIH | United States | $1.06B | -2% | -2% | 4% | 17.1× | 18.3% | -6.4% |
| Tama Home 1419.T | Japan | $486M | -26% | +2% | 2% | 20.5× | n/a | n/a |
| Hangzhou Landscaping 605303.SS | China | $484M | -17% | -34% | -27% | n/a | n/a | n/a |
| Nagawa 9663.T | Japan | $475M | -8% | +3% | 13% | n/a | 4.9% | +3.8% |