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Employees: 1,036
Size Kindom Development (2520.TW) is a Taiwan Consumer Discretionary company (Homebuilding) with a market value of $600M, the 389th largest of 687 Taiwan companies the cockpit tracks. Shares closed at NT$33.20 on 6 Nov 2026.
Performance Over six months the shares gained 15.5%, against -13.9% for the median peer and -3.4% for the Taiwan market (cap-weighted) — 4th highest of 21 in its peer set.
Growth Revenue grew 10.4% over the last twelve months (peer median +2.2%); the operating margin is 15.8% (peer median 5.8%).
Valuation It trades at 7.0× forward earnings against a peer median of 9.6× (3rd cheapest of 11).
Price implies For today's price to make sense, revenue must grow about -13% a year for seven years (Req g). Recent delivered growth is -4%, so the hurdle is -10 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 3.6 points above its cost of capital (5.0% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | NT$26.0B | NT$22.9B | NT$28.7B | NT$19.4B | NT$21.5B |
| Revenue growth | — | -20% | +47% | -10% | — |
| Gross profit | NT$5.77B | NT$4.70B | NT$9.23B | NT$5.43B | NT$5.51B |
| EBITDA | NT$4.61B | NT$3.58B | NT$7.98B | NT$4.40B | NT$4.46B |
| Net income | NT$1.98B | NT$1.56B | NT$5.55B | NT$2.40B | NT$2.33B |
| Free cash flow | NT$3.73B | -NT$4.41B | NT$9.48B | NT$1.59B | NT$2.19B |
| Capital expenditure | NT$215M | NT$169M | NT$93.4M | NT$76.5M | NT$157M |
| Total debt | NT$24.4B | NT$23.8B | NT$18.9B | NT$22.8B | NT$24.4B |
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 | 2520.TW | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -9.4% | -0.5% | 6th lowest of 21 |
| 6-month return | +15.5% | -13.9% | 4th highest of 21 |
| Distance from 52-week high | -16.2% | -31.5% | 5th highest of 21 |
| Revenue growth (TTM) | +10.4% | +2.2% | 8th highest of 20 |
| Operating margin | 15.8% | 5.8% | 6th highest of 20 |
| Forward P/E | 7.0× | 9.6× | 3rd cheapest of 11 |
| Growth the price implies (Req g, 7 yrs) | -13.2% | -7.9% | 5th least demanding of 15 |
| Growth delivered (Del g) | -3.5% | +0.7% | 5th lowest of 15 |
| Hurdle (Req g minus delivered) | -9.7 pp | -2.9 pp | 6th least demanding of 15 |
| ROIC minus cost of capital | +3.6 pp | -0.0 pp | 8th highest of 20 |
| EV / EBITDA | 6.4× | 6.7× | 4th cheapest of 8 |
| Net debt / EBITDA | 1.1× | 1.5× | 5th least indebted of 10 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| 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% |
| Shenzhen Centralcon Investment 000042.SZ | China | $637M | -34% | +116% | 14% | n/a | -14.2% | -24.7% |
| Atal 1AT.WA | Poland | $668M | -5% | +40% | 26% | 5.7× | -3.9% | +1.8% |
| Legacy Housing LEGH | United States | $694M | +25% | -3% | 33% | 14.1× | 3.5% | -1.4% |
| China Wuyi 000797.SZ | China | $517M | -24% | +78% | -5% | n/a | -8.0% | +4.2% |
| Cathay Real Estate Development 2501.TW | Taiwan | $719M | -9% | +14% | 19% | 6.8× | -20.7% | +11.7% |
| 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% |
| 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% |
| Takamatsu Construction 1762.T | Japan | $769M | +16% | +6% | 6% | 9.5× | n/a | n/a |
| BOXABL BXBL | United States | $466M | -81% | n/a | n/a | n/a | 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% |
| Mears MER.L | United Kingdom | $455M | +9% | +2% | 6% | 9.7× | -10.5% | +7.1% |
| YeaShin International Development 5213.TWO | Taiwan | $448M | -24% | -32% | 18% | n/a | n/a | n/a |
| Kaufman & Broad KOF.PA | France | $437M | -19% | 0% | 8% | 7.3× | -16.2% | -0.5% |
| Run Long Construction 1808.TW | Taiwan | $844M | +10% | +741% | 25% | n/a | -12.0% | -3.2% |
| Shanghai Tongji Science & Technology Industrial 600846.SS | China | $870M | -27% | +51% | 3% | n/a | 7.8% | -6.8% |