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Distributor of semiconductor and electronics materials, chemicals and equipment for Taiwan's fabs.
Distributor of semiconductor and electronics materials, chemicals and equipment for Taiwan's fabs.
Earns a distribution margin on equipment, parts and materials it resells from foreign makers, so profit follows the spending of the island's foundries on new fabs and upkeep, and a lost agency would hurt more than a lost customer.
Moat: narrow (distribution, customer qualification). Exclusive distribution agreements with global materials/equipment makers into Taiwan's fabs.
Headquarters: Taipei, Taiwan · Employees: 1,322
Size Wah Lee Industrial (3010.TW) is a Taiwan Industrials company (Wholesale Distributors) with a market value of $910M, the 286th largest of 687 Taiwan companies the cockpit tracks. Shares closed at NT$116.00 on 6 Nov 2026.
Performance Over six months the shares fell 15.0%, against -10.7% for the median peer and -3.4% for the Taiwan market (cap-weighted) — 10th lowest of 21 in its peer set.
Growth Revenue grew 5.7% over the last twelve months (peer median +6.8%); the operating margin is 4.4% (peer median 4.4%).
Valuation It trades at 11.4× forward earnings against a peer median of 11.2× (7th cheapest of 13).
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 +6%, so the hurdle is -12 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 2.5 points above its cost of capital (5.0% WACC).
Next results Next results expected around 17 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | NT$85.0B | NT$78.2B | NT$80.0B | NT$66.8B | NT$73.6B |
| Revenue growth | — | -2% | +20% | -9% | — |
| Gross profit | NT$6.96B | NT$6.16B | NT$5.81B | NT$5.36B | NT$5.40B |
| EBITDA | NT$4.22B | NT$3.59B | NT$3.10B | NT$2.96B | NT$3.08B |
| Net income | NT$2.90B | NT$2.29B | NT$2.25B | NT$2.11B | NT$2.48B |
| Free cash flow | NT$2.18B | NT$5.06B | -NT$1.22B | NT$1.85B | NT$1.74B |
| Capital expenditure | NT$912M | NT$842M | NT$664M | NT$603M | NT$1.90B |
| Total debt | NT$16.7B | NT$16.5B | NT$15.1B | NT$18.0B | NT$18.5B |
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 |
|---|---|---|---|---|---|---|
| Wah Lee Industrial 3010.TW | $910M | -15% | +6% | 4% | 11.4× | -6.5% |
| Topco Scientific 5434.TW | $2.68B | +11% | +21% | 7% | 14.3× | 3.8% |
| Air Products APD | $67.9B | +4% | +5% | 24% | 21.2× | n/a |
| Merck KGaA MRK.DE | $72.5B | +23% | 0% | 20% | 17.5× | 7.7% |
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 | 3010.TW | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -10.8% | -5.3% | 10th lowest of 21 |
| 6-month return | -15.0% | -10.7% | 10th lowest of 21 |
| Distance from 52-week high | -23.2% | -33.8% | 9th highest of 21 |
| Revenue growth (TTM) | +5.7% | +6.8% | 9th lowest of 21 |
| Operating margin | 4.4% | 4.4% | 11th highest of 21 |
| Forward P/E | 11.4× | 11.2× | 7th cheapest of 13 |
| Growth the price implies (Req g, 7 yrs) | -6.5% | -4.3% | 4th least demanding of 13 |
| Growth delivered (Del g) | +5.8% | +7.9% | 5th lowest of 13 |
| Hurdle (Req g minus delivered) | -12.3 pp | -11.5 pp | 6th least demanding of 13 |
| ROIC minus cost of capital | +2.5 pp | +1.1 pp | 10th highest of 21 |
| Net debt / EBITDA | 1.7× | 0.3× | 4th most indebted of 15 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Wah Lee Industrial 3010.TW | Taiwan | $910M | -15% | +6% | 4% | 11.4× | -6.5% | +5.8% |
| Lx International 001120.KS | South Korea | $913M | -35% | +11% | 2% | 4.6× | n/a | n/a |
| Mitsuuroko 8131.T | Japan | $893M | +26% | 0% | 3% | n/a | -3.7% | +8.4% |
| Auto Partner APR.WA | Poland | $928M | +26% | +67% | 8% | 12.2× | -5.0% | +21.5% |
| Matsuda Sangyo 7456.T | Japan | $891M | -12% | +49% | 4% | 5.6× | n/a | n/a |
| Superior Plus SPB.TO | Canada | $890M | -22% | -7% | 8% | 13.8× | -1.3% | +13.7% |
| Yellow Hat 9882.T | Japan | $888M | +12% | +7% | 9% | n/a | -5.5% | +3.1% |
| Huludao Zinc Industry 000751.SZ | China | $943M | -36% | +17% | 1% | n/a | n/a | n/a |
| Dlg Exhibitions & Events 600826.SS | China | $944M | -9% | +2% | 15% | 18.7× | 6.9% | -11.5% |
| State Power Rixin Technology 301162.SZ | China | $944M | -25% | +12% | 17% | 36.8× | 22.6% | +23.8% |
| Kamei 8037.T | Japan | $869M | +40% | +1% | 3% | n/a | -13.1% | +7.6% |
| Hangzhou Cogeneration 605011.SS | China | $956M | -23% | -1% | 5% | n/a | n/a | n/a |
| Trusco Nakayama 9830.T | Japan | $958M | +6% | +10% | 7% | 9.4× | n/a | n/a |
| MAAS MGH.AX | Australia | $849M | -20% | +31% | 8% | 11.7× | n/a | n/a |
| Yamazen 8051.T | Japan | $978M | +13% | +7% | 2% | n/a | -6.3% | +4.5% |
| San-ai Obbli 8097.T | Japan | $843M | -3% | -8% | 2% | n/a | -3.1% | +5.2% |
| Deep Source 0990.HK | Hong Kong | $1.00B | -31% | +7% | 2% | n/a | -13.6% | +6.1% |
| Totech 9960.T | Japan | $1.00B | 0% | +6% | 10% | 10.7× | 5.4% | +9.2% |
| China Aviation Oil (Singapore) G92.SI | Singapore | $815M | -39% | -8% | 0% | 8.3× | -11.7% | +8.2% |
| Shandong Nanshan Fashion Sci-Tech 300918.SZ | China | $808M | -24% | +40% | 5% | 38.9× | n/a | n/a |
| SK Networks 001740.KS | South Korea | $804M | -4% | -4% | 1% | 9.9× | n/a | n/a |