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Small Taiwanese homebuilder developing residential and commercial construction projects.
Small Taiwanese homebuilder developing residential and commercial construction projects.
Moat: none. Small regional homebuilder with no structural competitive edge in a fragmented market.
Headquarters: Taiwan
Size JSL Construction & Development (2540.TW) is a Taiwan Consumer Discretionary company (Homebuilding) with a market value of $1.25B, the 233rd largest of 687 Taiwan companies the cockpit tracks. Shares closed at NT$43.80 on 6 Nov 2026.
Performance Over six months the shares fell 14.1%, against -11.2% for the median peer and -3.4% for the Taiwan market (cap-weighted) — 9th lowest of 21 in its peer set.
Growth Revenue fell 35.4% over the last twelve months (peer median +7.3%); the operating margin is 2.7% (peer median 5.4%).
Valuation It trades at 8.6× enterprise value to sales against a peer median of 1.1× (most expensive of 21).
Capital Return on invested capital runs 4.6 points below its cost of capital (5.0% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | NT$8.34B | NT$11.3B | NT$11.2B | NT$8.10B | NT$4.73B |
| Revenue growth | — | +1% | +38% | +71% | — |
| Gross profit | NT$1.28B | NT$2.24B | NT$3.66B | NT$3.29B | NT$1.37B |
| EBITDA | NT$352M | NT$1.16B | NT$2.68B | NT$2.33B | NT$763M |
| Net income | -NT$7.71M | NT$644M | NT$1.90B | NT$1.51B | NT$445M |
| Free cash flow | -NT$7.54B | -NT$8.21B | -NT$4.86B | -NT$3.34B | -NT$4.11B |
| Capital expenditure | NT$16.4M | NT$15.2M | NT$325M | NT$9.54M | NT$5.14M |
| Total debt | NT$33.3B | NT$31.6B | NT$23.9B | NT$18.3B | NT$15.6B |
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.
| Company | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g |
|---|---|---|---|---|---|---|
| JSL Construction & Development 2540.TW | $1.25B | -14% | -35% | 3% | 8.6× | n/a |
| Ruentex Development 9945.TW | $2.27B | +13% | +37% | 19% | 3.0× | -1.0% |
| Farglory Land Development 5522.TW | $1.34B | -18% | +164% | 26% | 1.9× | -13.6% |
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 | 2540.TW | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -7.7% | +0.1% | 4th lowest of 21 |
| 6-month return | -14.1% | -11.2% | 9th lowest of 21 |
| Distance from 52-week high | -29.1% | -28.9% | 11th highest of 21 |
| Revenue growth (TTM) | -35.4% | +7.3% | 2nd lowest of 21 |
| Operating margin | 2.7% | 5.4% | 6th lowest of 21 |
| EV / Sales | 8.6× | 1.1× | most expensive of 21 |
| ROIC minus cost of capital | -4.6 pp | -0.0 pp | 7th lowest of 21 |
| Net debt / EBITDA | 85.3× | 2.8× | most indebted of 13 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| JSL Construction & Development 2540.TW | Taiwan | $1.25B | -14% | -35% | 3% | 8.6× | n/a | n/a |
| Nishimatsu Construction 1820.T | Japan | $1.28B | -11% | +14% | 8% | 0.9× | n/a | n/a |
| Okumura 1833.T | Japan | $1.19B | -17% | 0% | 5% | 0.8× | n/a | n/a |
| CEVIA Enviro 000885.SZ | China | $1.16B | -14% | -2% | 27% | 3.6× | -8.3% | +14.0% |
| Vistry VTY.L | United Kingdom | $1.12B | -19% | -8% | -9% | 0.4× | n/a | n/a |
| Dream Finders Homes DFH | United States | $1.12B | -13% | -11% | 3% | 0.7× | n/a | n/a |
| Gemdale 600383.SS | China | $1.45B | -26% | -47% | -24% | 3.2× | 10.8% | -15.6% |
| LGI Homes LGIH | United States | $1.06B | -2% | -2% | 4% | 1.4× | 18.3% | -6.4% |
| Black Diamond BDI.TO | Canada | $1.02B | +25% | +26% | 12% | 3.2× | n/a | n/a |
| Century Communities CCS | United States | $1.56B | 0% | -7% | 2% | 0.9× | n/a | n/a |
| Huaku Development 2548.TW | Taiwan | $928M | -21% | +331% | 22% | 1.4× | -18.6% | +10.0% |
| Katitas 8919.T | Japan | $1.69B | +11% | +20% | 12% | 1.8× | n/a | n/a |
| Dexterra DXT.TO | Canada | $876M | +59% | +9% | 6% | 1.3× | 5.1% | +17.2% |
| Shanghai Tongji Science & Technology Industrial 600846.SS | China | $870M | -27% | +51% | 3% | 1.0× | 7.8% | -6.8% |
| Run Long Construction 1808.TW | Taiwan | $844M | +10% | +741% | 25% | 2.5× | -12.0% | -3.2% |
| GS Engineering & Construction 006360.KS | South Korea | $1.86B | -22% | -15% | 3% | 0.2× | -9.8% | +4.2% |
| Cairn Homes CRN.L | United Kingdom | $1.92B | +18% | +44% | 18% | 1.7× | -0.7% | +28.6% |
| Tokyu Construction 1720.T | Japan | $774M | -21% | +11% | 5% | 0.2× | -13.6% | +8.1% |
| Chongqing Construction Engineering 600939.SS | China | $773M | -11% | -28% | -4% | 1.1× | -7.9% | -16.8% |
| Takamatsu Construction 1762.T | Japan | $769M | +16% | +6% | 6% | 0.3× | n/a | n/a |
| Cathay Real Estate Development 2501.TW | Taiwan | $719M | -9% | +14% | 19% | 0.8× | -20.7% | +11.7% |