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Taiwanese maker of optical lenses and camera modules, also producing binoculars and laser rangefinders for consumer and industrial use.
Taiwanese maker of optical lenses and camera modules, also producing binoculars and laser rangefinders for consumer and industrial use.
Makes lenses and camera modules to its customers' designs, so those brands own the end product and the retail relationship while it earns manufacturing fees. Lenses for dedicated cameras are a mature market squeezed by smartphone cameras, so growth depends on modules for other uses.
In one line: A diversified Taiwanese optics maker supplying camera brands.
Moat: narrow (process know-how). Precision optical-manufacturing know-how across consumer and industrial optics niches.
Headquarters: Taichung, Taiwan · Founded: 1980
Size Asia Optical (3019.TW) is a Taiwan Information Technology company (Electronic Equipment/Instruments) with a market value of $1.04B, the 267th largest of 687 Taiwan companies the cockpit tracks. Shares closed at NT$123.50 on 6 Nov 2026.
Performance Over six months the shares fell 13.6%, against -19.4% for the median peer and -3.4% for the Taiwan market (cap-weighted) — 8th highest of 21 in its peer set.
Growth Revenue grew 12.7% over the last twelve months (peer median +9.2%); the operating margin is 9.8% (peer median 6.2%).
Valuation It trades at 16.2× forward earnings against a peer median of 29.1× (4th cheapest of 14).
Price implies For today's price to make sense, revenue must grow about 0% a year for seven years (Req g). Recent delivered growth is +11%, so the hurdle is -11 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 7.8 points above its cost of capital (6.6% WACC).
Next results Next results expected around 11 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | NT$29.1B | NT$26.4B | NT$23.0B | NT$17.8B | NT$19.1B |
| Revenue growth | — | +15% | +29% | -7% | — |
| Gross profit | NT$5.85B | NT$4.71B | NT$4.11B | NT$3.03B | NT$3.62B |
| EBITDA | n/a | NT$3.03B | NT$2.47B | NT$1.50B | NT$1.89B |
| Net income | NT$2.06B | NT$1.84B | NT$1.62B | NT$777M | NT$924M |
| Free cash flow | n/a | NT$1.04B | NT$2.93B | NT$1.72B | NT$1.95B |
| Capital expenditure | n/a | NT$1.12B | NT$914M | NT$573M | NT$403M |
| Total debt | n/a | NT$60.8M | NT$45.7M | NT$38.1M | NT$51.8M |
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 |
|---|---|---|---|---|---|---|
| Asia Optical 3019.TW | $1.04B | -14% | +13% | 10% | 16.2× | 0.1% |
| GeniuS Electronic Optical 3406.TW | $2.81B | +59% | +16% | 20% | 20.1× | 5.9% |
| Largan Precision 3008.TW | $17.7B | +76% | 0% | 35% | 26.0× | 12.6% |
| Sunny Optical 2382.HK | $8.92B | -3% | +20% | 8% | 14.8× | 4.9% |
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 | 3019.TW | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -12.7% | -6.5% | 9th lowest of 21 |
| 6-month return | -13.6% | -19.4% | 8th highest of 21 |
| Distance from 52-week high | -28.2% | -44.7% | 4th highest of 21 |
| Revenue growth (TTM) | +12.7% | +9.2% | 10th highest of 21 |
| Operating margin | 9.8% | 6.2% | 7th highest of 21 |
| Forward P/E | 16.2× | 29.1× | 4th cheapest of 14 |
| Growth the price implies (Req g, 7 yrs) | 0.1% | 11.2% | 2nd least demanding of 7 |
| Growth delivered (Del g) | +10.9% | +13.2% | lowest of 7 |
| Hurdle (Req g minus delivered) | -10.8 pp | -2.4 pp | 3rd least demanding of 7 |
| ROIC minus cost of capital | +7.8 pp | -1.2 pp | 2nd highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Asia Optical 3019.TW | Taiwan | $1.04B | -14% | +13% | 10% | 16.2× | 0.1% | +10.9% |
| Henan Yicheng New Energy 300080.SZ | China | $1.05B | -17% | -13% | -21% | n/a | n/a | n/a |
| Uni-Trend Technology (China) 688628.SS | China | $1.07B | -34% | +33% | 15% | 29.1× | n/a | n/a |
| Camelot Electronics Technology 301282.SZ | China | $992M | +12% | +58% | 7% | n/a | n/a | n/a |
| Rigol Technologies 688337.SS | China | $990M | -45% | +27% | 9% | 51.4× | 24.5% | +20.5% |
| Wuxi Xinje Electric 603416.SS | China | $984M | -22% | +26% | 9% | 21.1× | 19.8% | +12.2% |
| Shenzhen Clou Electronics 002121.SZ | China | $1.11B | -36% | +40% | -5% | 29.5× | n/a | n/a |
| Park Systems 140860.KS | South Korea | $965M | -35% | -6% | 12% | 30.3× | n/a | n/a |
| Suzhou Sushi Testing 300416.SZ | China | $957M | -26% | +8% | 15% | 23.0× | 2.6% | +13.7% |
| Transcat TRNS | United States | $955M | +33% | +20% | 5% | 45.0× | 30.3% | +13.9% |
| Ventec International 6672.TW | Taiwan | $1.15B | +110% | +20% | 13% | 30.6× | n/a | n/a |
| Kinpo Electronics 2312.TW | Taiwan | $1.16B | -8% | -7% | 3% | n/a | n/a | n/a |
| Riken Keiki 7734.T | Japan | $930M | -7% | +11% | 22% | 13.8× | 2.6% | +11.4% |
| Wuhan East Lake High Technology 600133.SS | China | $1.17B | -18% | -3% | 8% | n/a | n/a | n/a |
| Sidea Semiconductor Equipment (Shenzhen) 301629.SZ | China | $924M | -39% | -27% | 0% | 147.2× | n/a | n/a |
| Henan Thinker Automatic Equipment 603508.SS | China | $1.18B | -20% | -1% | 39% | 9.1× | -3.9% | +12.6% |
| Jiangsu Wuyang Automation Control Technology 300420.SZ | China | $921M | +51% | -10% | 5% | n/a | n/a | n/a |
| Toshiba Tec 6588.T | Japan | $918M | -2% | +7% | 3% | 11.3× | n/a | n/a |
| RoboSense Technology Company 2498.HK | Hong Kong | $914M | -55% | +32% | -22% | n/a | n/a | n/a |
| Feitian Technologies 300386.SZ | China | $909M | -17% | -20% | -20% | n/a | n/a | n/a |
| Hunan Zhongke Electric 300035.SZ | China | $1.22B | -42% | +46% | 5% | 20.6× | n/a | n/a |