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Taiwanese building-materials maker producing ready-mix concrete and related construction materials.
Taiwanese building-materials maker producing ready-mix concrete and related construction materials.
Moat: none (scale). Regional building-materials producer competing on cost and logistics.
Headquarters: Taiwan
Size Goldsun Building Materials (2504.TW) is a Taiwan Materials company (Construction Materials) with a market value of $1.06B, the 262nd largest of 687 Taiwan companies the cockpit tracks. Shares closed at NT$29.90 on 6 Nov 2026.
Performance Over six months the shares fell 13.8%, against -10.8% for the median peer and -3.4% for the Taiwan market (cap-weighted) — 10th lowest of 21 in its peer set.
Growth Revenue fell 3.5% over the last twelve months (peer median -6.4%); the operating margin is 22.2% (peer median 7.4%).
Valuation It trades at 8.4× forward earnings against a peer median of 17.3× (cheapest of 14).
Price implies For today's price to make sense, revenue must grow about -7% a year for seven years (Req g). Recent delivered growth is +4%, so the hurdle is -11 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 5.0 points above its cost of capital (5.0% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | NT$21.5B | NT$22.5B | NT$21.7B | NT$21.0B | NT$21.3B |
| Revenue growth | — | +4% | +3% | -1% | — |
| Gross profit | NT$5.78B | NT$6.11B | NT$5.52B | NT$4.93B | NT$4.25B |
| EBITDA | NT$5.62B | NT$5.88B | NT$5.27B | NT$4.72B | NT$4.07B |
| Net income | NT$3.75B | NT$3.88B | NT$4.59B | NT$3.53B | NT$4.13B |
| Free cash flow | NT$642M | NT$1.43B | -NT$507M | NT$1.51B | NT$265M |
| Capital expenditure | NT$4.62B | NT$3.91B | NT$4.49B | NT$2.65B | NT$3.24B |
| Total debt | NT$16.0B | NT$13.7B | NT$11.3B | NT$9.69B | NT$9.21B |
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 |
|---|---|---|---|---|---|---|
| Goldsun Building Materials 2504.TW | $1.06B | -14% | -3% | 22% | 8.4× | -7.1% |
| Asia Cement 1102.TW | $3.92B | +5% | -10% | 10% | 11.0× | 5.6% |
| TCC 1101.TW | $6.09B | +11% | -6% | 8% | 29.2× | 9.1% |
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 | 2504.TW | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -3.4% | +0.1% | 10th lowest of 21 |
| 6-month return | -13.8% | -10.8% | 10th lowest of 21 |
| Distance from 52-week high | -25.4% | -30.2% | 8th highest of 21 |
| Revenue growth (TTM) | -3.5% | -6.4% | 10th highest of 21 |
| Operating margin | 22.2% | 7.4% | 2nd highest of 20 |
| Forward P/E | 8.4× | 17.3× | cheapest of 14 |
| Growth the price implies (Req g, 7 yrs) | -7.1% | -3.2% | 5th least demanding of 16 |
| Growth delivered (Del g) | +3.6% | +5.1% | 8th lowest of 16 |
| Hurdle (Req g minus delivered) | -10.7 pp | -5.0 pp | 6th least demanding of 16 |
| ROIC minus cost of capital | +5.0 pp | -2.5 pp | 5th highest of 20 |
| EV / EBITDA | 8.2× | 7.6× | 5th most expensive of 12 |
| Net debt / EBITDA | 1.8× | 1.2× | 4th most indebted of 12 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Goldsun Building Materials 2504.TW | Taiwan | $1.06B | -14% | -3% | 22% | 8.4× | -7.1% | +3.6% |
| Mitani Sekisan 5273.T | Japan | $1.12B | +33% | +9% | 18% | n/a | -8.4% | +7.7% |
| Loma Negra Compania Industrial Argentina SA Sponsored ADR LOMA | United States | $1.12B | -21% | -5% | 9% | 16.6× | 13.6% | +2.9% |
| Cementos Pacasmayo SAA Sponsored ADR CPAC | United States | $1.16B | +20% | +21% | 25% | 22.2× | -9.8% | +9.9% |
| Sumitomo Osaka Cement 5232.T | Japan | $969M | +49% | +5% | 7% | 13.7× | 4.6% | -1.3% |
| Maeda Kosen 7821.T | Japan | $944M | +21% | +11% | 17% | 14.8× | -4.7% | +10.6% |
| Hanilcmt 300720.KS | South Korea | $905M | -4% | -10% | 11% | 11.9× | -3.2% | +7.9% |
| Shandong Fiberglass 605006.SS | China | $1.25B | +10% | +31% | 5% | 64.0× | n/a | n/a |
| Caltagirone CALT.MI | Italy | $1.26B | +1% | +10% | 10% | n/a | 0.9% | +10.5% |
| China West Construction 002302.SZ | China | $884M | -16% | -24% | -7% | n/a | 12.5% | -5.0% |
| China Resources Building Materials Technology 1313.HK | Hong Kong | $873M | -31% | -12% | -3% | n/a | -8.1% | -10.6% |
| West China Cement 2233.HK | Hong Kong | $1.30B | -29% | -10% | 15% | 11.1× | n/a | n/a |
| Guangdong Tapai 002233.SZ | China | $1.34B | -10% | -11% | 7% | 20.3× | -15.3% | -10.2% |
| NWPX Infrastructure NWPX | United States | $841M | -22% | +16% | 12% | 17.5× | 6.2% | +12.9% |
| BBMG Jidong Cement 000401.SZ | China | $1.35B | -21% | -8% | n/a | n/a | 37.1% | -7.0% |
| Xinjiang Qingsong Building Materials & Chemicals (Group) 600425.SS | China | $833M | -16% | -8% | 9% | 17.3× | 2.0% | +5.1% |
| Fsilon Furnishing and Construction Materials 605318.SS | China | $1.36B | -29% | -15% | -5% | 3,613.5× | n/a | n/a |
| Ningxia Building Materials 600449.SS | China | $818M | -12% | -36% | 0% | 19.0× | -3.6% | +0.3% |
| Yang Guang 000608.SZ | China | $814M | +60% | +68% | 4% | n/a | n/a | n/a |
| Sinostone (Guangdong) 001212.SZ | China | $814M | -52% | -21% | -18% | n/a | n/a | n/a |
| Pan-United P52.SI | Singapore | $784M | -9% | +26% | 7% | 15.4× | -5.3% | +17.3% |