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Suzhou maker of precision optical components used inside fiber-optic and data-center transceivers.
Suzhou maker of precision optical components used inside fiber-optic and data-center transceivers.
Sells its precision parts in bulk to optical transceiver makers, who build them into the modules that link data-centre equipment, so its volume follows those makers' shipments. A handful of customers account for most of its sales.
In one line: A small optical-components supplier, niche subcomponent maker.
Moat: narrow (process know-how, customer qualification). Precision ceramic/optical component manufacturing feeding into qualified transceiver supply chains.
Headquarters: Suzhou, China · Founded: 2005 · Employees: 5,127
Size Suzhou TFC Optical Communication (300394.SZ) is a China Information Technology company (Semiconductors) with a market value of $19.9B, the 111th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥122.00 on 6 Nov 2026.
Performance Over six months the shares fell 44.5%, against -11.9% for the median peer and -16.4% for the China market (cap-weighted) — 4th lowest of 20 in its peer set.
Growth Revenue grew 25.6% over the last twelve months (peer median +24.4%); the operating margin is 51.4% (peer median 17.9%).
Valuation It trades at 36.3× forward earnings against a peer median of 26.2× (8th most expensive of 18).
Price implies For today's price to make sense, revenue must grow about 45% a year for seven years (Req g). Recent delivered growth is +43%, so the hurdle is +2 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 42.8 points above its cost of capital (17.2% WACC).
Next results Next results expected around 16 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥6.00B | CN¥5.11B | CN¥3.23B | CN¥1.93B | CN¥1.19B |
| Revenue growth | — | +59% | +68% | +62% | — |
| Gross profit | CN¥3.84B | CN¥2.69B | CN¥1.80B | CN¥1.01B | CN¥566M |
| EBITDA | n/a | CN¥2.44B | CN¥1.53B | CN¥861M | CN¥475M |
| Net income | CN¥2.64B | CN¥2.02B | CN¥1.34B | CN¥730M | CN¥403M |
| Free cash flow | CN¥1.39B | CN¥1.46B | CN¥820M | CN¥715M | CN¥378M |
| Capital expenditure | CN¥600M | CN¥418M | CN¥451M | CN¥204M | CN¥112M |
| Total debt | CN¥288M | CN¥97.0M | CN¥139M | CN¥84.7M | CN¥48.5M |
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 |
|---|---|---|---|---|---|---|
| Suzhou TFC Optical Communication 300394.SZ | $19.9B | -44% | +26% | 51% | 36.3× | 44.8% |
| Zhongji Innolight 300308.SZ | $79.4B | -48% | +162% | 41% | 15.4× | 23.2% |
| Eoptolink Technology 300502.SZ | $36.0B | -54% | +101% | 44% | 12.3× | 21.7% |
| Coherent COHR | $38.0B | -42% | +23% | 14% | 16.6× | n/a |
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 | 300394.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -48.1% | -19.8% | lowest of 21 |
| 6-month return | -44.5% | -11.9% | 4th lowest of 20 |
| Distance from 52-week high | -67.5% | -49.0% | 3rd lowest of 21 |
| Revenue growth (TTM) | +25.6% | +24.4% | 10th highest of 20 |
| Operating margin | 51.4% | 17.9% | highest of 19 |
| Forward P/E | 36.3× | 26.2× | 8th most expensive of 18 |
| Growth the price implies (Req g, 7 yrs) | 44.8% | 25.4% | 2nd most demanding of 13 |
| Growth delivered (Del g) | +42.7% | +13.4% | 3rd highest of 13 |
| Hurdle (Req g minus delivered) | +2.1 pp | +7.8 pp | 7th least demanding of 13 |
| ROIC minus cost of capital | +42.8 pp | +3.2 pp | 3rd highest of 19 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Suzhou TFC Optical Communication 300394.SZ | China | $19.9B | -44% | +26% | 51% | 36.3× | 44.8% | +42.7% |
| Skyworks Solutions SWKS | United States | $19.3B | +24% | -3% | 9% | 14.3× | 39.4% | -5.0% |
| DapuStor 301666.SZ | China | $18.8B | +20% | +611% | 23% | n/a | n/a | n/a |
| GlobalFoundries GFS | United States | $21.2B | -48% | +1% | 12% | 16.2× | 24.9% | +7.0% |
| First Solar FSLR | United States | $21.6B | -9% | -1% | 39% | 9.2× | 12.4% | +14.0% |
| Piotech 688072.SS | China | $21.7B | +23% | +24% | 14% | 55.5× | 43.5% | +71.7% |
| SJ Semiconductor 688820.SS | China | $22.9B | -21% | +1% | n/a | 136.4× | n/a | n/a |
| Shanghai Enflame Technology 688801.SS | China | $23.8B | n/a | n/a | n/a | n/a | n/a | n/a |
| Montage Technology 6809.HK | Hong Kong | $24.1B | -49% | +40% | 42% | 45.8× | 8.1% | +23.6% |
| Winbond Electronic 2344.TW | Taiwan | $16.4B | +22% | +154% | 43% | 2.8× | 0.6% | +8.1% |
| ON Semiconductor ON | United States | $24.6B | -39% | +3% | 19% | 14.3× | 20.0% | +2.7% |
| MACOM Technology Solutions MTSI | United States | $16.1B | -41% | +28% | 18% | 23.2× | 49.4% | +12.8% |
| OmniVision Integrated Circuits 603501.SS | China | $16.1B | -12% | +2% | 13% | 31.4× | n/a | n/a |
| Moore Threads Technology 688795.SS | China | $25.1B | -53% | +226% | -9% | n/a | n/a | n/a |
| GigaDevice Semiconductor 3986.HK | Hong Kong | $25.1B | -43% | +181% | 50% | 11.6× | -8.8% | +14.6% |
| Global Unichip 3443.TW | Taiwan | $25.1B | +29% | +104% | 13% | 50.1× | n/a | n/a |
| Tower Semiconductor TSEM | United States | $15.6B | -35% | +22% | 19% | 21.6× | 25.9% | +4.4% |
| Hua Hong Grace Semiconductor 688347.SS | China | $25.5B | +23% | +18% | -2% | 234.7× | n/a | n/a |
| Hwatsing Technology 688120.SS | China | $15.4B | +42% | +36% | 18% | 63.8× | 41.8% | +64.4% |
| Lattice Semiconductor LSCC | United States | $14.9B | -17% | +63% | 13% | 26.2× | n/a | n/a |
| Technoprobe TPRO.MI | Italy | $14.9B | +5% | +22% | 30% | 38.4× | 36.4% | +14.6% |