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Size Da-Cin Construction (2535.TW) is a Taiwan Industrials company (Engineering & Construction) with a market value of $693M, the 346th largest of 687 Taiwan companies the cockpit tracks. Shares closed at NT$89.10 on 6 Nov 2026.
Performance Over six months the shares gained 22.6%, against -13.3% for the median peer and -3.4% for the Taiwan market (cap-weighted) — 2nd highest of 21 in its peer set.
Growth Revenue grew 36.5% over the last twelve months (peer median +10.3%); the operating margin is 8.3% (peer median 8.7%).
Valuation It trades at 0.9× enterprise value to sales against a peer median of 1.3× (8th cheapest of 21).
Price implies For today's price to make sense, revenue must grow about -11% a year for seven years (Req g). Recent delivered growth is +8%, so the hurdle is -18 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 11.7 points above its cost of capital (5.0% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | NT$24.5B | NT$22.1B | NT$14.7B | NT$14.5B | NT$17.2B |
| Revenue growth | — | +50% | +1% | -16% | — |
| Gross profit | NT$2.80B | NT$2.47B | NT$1.61B | NT$1.70B | NT$2.29B |
| EBITDA | NT$2.09B | NT$1.80B | NT$1.10B | NT$1.26B | NT$1.86B |
| Net income | NT$2.65B | NT$1.69B | NT$1.35B | NT$1.19B | NT$1.19B |
| Free cash flow | NT$3.58B | NT$4.61B | -NT$2.27B | -NT$3.67B | -NT$941M |
| Capital expenditure | NT$5.00M | NT$3.62M | NT$42.1M | NT$14.5M | NT$117M |
| Total debt | NT$7.99B | NT$9.16B | NT$10.3B | NT$7.11B | NT$5.97B |
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 | 2535.TW | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +0.9% | -2.5% | 7th highest of 21 |
| 6-month return | +22.6% | -13.3% | 2nd highest of 21 |
| Distance from 52-week high | -9.6% | -32.3% | 5th highest of 21 |
| Revenue growth (TTM) | +36.5% | +10.3% | 5th highest of 21 |
| Operating margin | 8.3% | 8.7% | 11th highest of 21 |
| EV / Sales | 0.9× | 1.3× | 8th cheapest of 21 |
| Growth the price implies (Req g, 7 yrs) | -10.6% | 7.6% | 4th least demanding of 14 |
| Growth delivered (Del g) | +7.9% | +4.1% | 6th highest of 14 |
| Hurdle (Req g minus delivered) | -18.5 pp | -1.0 pp | 4th least demanding of 14 |
| ROIC minus cost of capital | +11.7 pp | +0.5 pp | 2nd highest of 21 |
| EV / EBITDA | 10.3× | 8.4× | 5th most expensive of 13 |
| Net debt / EBITDA | -0.8× | 0.6× | 5th least indebted of 13 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Da-Cin Construction 2535.TW | Taiwan | $693M | +23% | +36% | 8% | 0.9× | -10.6% | +7.9% |
| Cardinal Infrastructure CDNL | United States | $691M | -73% | +90% | 8% | 1.4× | n/a | n/a |
| Zhejiang Yasha Decoration 002375.SZ | China | $695M | -16% | -25% | 6% | 0.7× | -0.2% | -3.3% |
| Dilip Buildcon DBL.NS | India | $688M | -17% | -19% | 16% | 0.7× | n/a | n/a |
| Yondenko 1939.T | Japan | $685M | +10% | +7% | 11% | 0.9× | 1.1% | +2.1% |
| United Testing Inspection And Certification Technology 301115.SZ | China | $702M | +22% | +5% | -1% | 3.0× | n/a | n/a |
| Anhui Orivie Technology 300692.SZ | China | $702M | -7% | -6% | 21% | 7.5× | 10.9% | +0.1% |
| Shanghai CDXJ Digital Technology 603887.SS | China | $705M | -49% | +79% | 3% | 1.8× | n/a | n/a |
| Yokogawa Bridge 5911.T | Japan | $679M | -6% | +4% | 8% | 0.8× | -12.8% | +1.1% |
| Ceigall India CEIGALL.NS | India | $708M | +5% | +20% | 13% | 1.6× | n/a | n/a |
| Kingfore Energy 001210.SZ | China | $662M | +32% | +15% | 12% | 3.2× | 13.4% | +9.6% |
| Boustead Singapore F9D.SI | Singapore | $662M | -35% | +18% | 12% | 0.9× | -11.4% | -1.9% |
| Shenzhen Grandland 002482.SZ | China | $658M | -32% | +46% | -4% | 2.4× | 24.9% | -33.5% |
| PS Construction 1871.T | Japan | $656M | -17% | +6% | 9% | 0.8× | n/a | n/a |
| Shanghai Pudong Construction 600284.SS | China | $739M | -28% | -17% | 1% | 0.0× | n/a | n/a |
| Cloudberry Clean Energy CLOUD.OL | Norway | $645M | +2% | +79% | 14% | 15.7× | 41.7% | +168.9% |
| Bowman Consulting BWMN | United States | $745M | -19% | +14% | 5% | 1.9× | 30.3% | +32.1% |
| Techno Ryowa 1965.T | Japan | $644M | +12% | +14% | 16% | 0.8× | -11.0% | +12.5% |
| ISGEC Heavy Engineering ISGEC.NS | India | $746M | -11% | +21% | 6% | 1.0× | 22.1% | +5.0% |
| Mistras MG | United States | $642M | +14% | +5% | 7% | 1.1× | 7.6% | +4.1% |
| Suzhou West Deane New Power Electric 603312.SS | China | $750M | -18% | -8% | 9% | 1.7× | 7.1% | +62.0% |