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Taiwanese maker of wet-processing and cleaning equipment used in semiconductor and solar-wafer manufacturing.
Taiwanese maker of wet-processing and cleaning equipment used in semiconductor and solar-wafer manufacturing.
In one line: A niche Taiwanese wafer-cleaning equipment maker.
Moat: narrow (process know-how, customer qualification). Qualified wafer-processing equipment supplier in a niche segment of fab tools.
Headquarters: Taiwan
Size Grand Process Technology (3131.TWO) is a Taiwan Information Technology company (Electronic Production Equipment) with a market value of $1.27B, the 230th largest of 687 Taiwan companies the cockpit tracks. Shares closed at NT$1,440 on 6 Nov 2026.
Performance Over six months the shares fell 50.5%, against -23.4% for the median peer and -3.4% for the Taiwan market (cap-weighted) — 5th lowest of 20 in its peer set.
Growth Revenue grew 37.7% over the last twelve months (peer median +11.6%); the operating margin is 22.1% (peer median 4.0%).
Valuation It trades at 18.3× forward earnings against a peer median of 23.3× (3rd cheapest of 8).
Price implies For today's price to make sense, revenue must grow about 13% a year for seven years (Req g). Recent delivered growth is +21%, so the hurdle is -8 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 22.1 points above its cost of capital (8.0% WACC).
Next results Next results expected around 1 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | NT$7.69B | NT$6.51B | NT$4.07B | NT$3.54B | NT$3.72B |
| Revenue growth | — | +60% | +15% | -5% | — |
| Gross profit | NT$3.03B | NT$2.66B | NT$1.81B | NT$1.46B | NT$1.59B |
| EBITDA | n/a | NT$1.77B | NT$999M | NT$797M | NT$862M |
| Net income | NT$1.74B | NT$1.33B | NT$845M | NT$616M | NT$722M |
| Free cash flow | n/a | NT$1.67B | NT$1.06B | NT$70.9M | NT$566M |
| Capital expenditure | n/a | NT$151M | NT$342M | NT$694M | NT$257M |
| Total debt | n/a | NT$3.03B | NT$1.97B | NT$1.53B | NT$821M |
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 |
|---|---|---|---|---|---|---|
| Grand Process Technology 3131.TWO | $1.27B | -51% | +38% | 22% | 18.3× | 13.0% |
| Screen 7735.T | $9.20B | -24% | +3% | 20% | 12.4× | 17.3% |
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 | 3131.TWO | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -43.1% | -23.2% | 2nd lowest of 21 |
| 6-month return | -50.5% | -23.4% | 5th lowest of 20 |
| Distance from 52-week high | -64.4% | -51.0% | 5th lowest of 21 |
| Revenue growth (TTM) | +37.7% | +11.6% | 5th highest of 21 |
| Operating margin | 22.1% | 4.0% | 2nd highest of 21 |
| Forward P/E | 18.3× | 23.3× | 3rd cheapest of 8 |
| Growth the price implies (Req g, 7 yrs) | 13.0% | 24.4% | 4th least demanding of 10 |
| Growth delivered (Del g) | +21.2% | +5.0% | 2nd highest of 10 |
| Hurdle (Req g minus delivered) | -8.3 pp | +6.8 pp | 3rd least demanding of 10 |
| ROIC minus cost of capital | +22.1 pp | -5.6 pp | highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Grand Process Technology 3131.TWO | Taiwan | $1.27B | -51% | +38% | 22% | 18.3× | 13.0% | +21.2% |
| Shenzhen Hui Chuang Da Technology 300909.SZ | China | $1.26B | +4% | +3% | 2% | n/a | n/a | n/a |
| TXC 3042.TW | Taiwan | $1.28B | -26% | +9% | 17% | 14.4× | 10.7% | +3.9% |
| Maxvision Technology 002990.SZ | China | $1.26B | -39% | +36% | 14% | n/a | n/a | n/a |
| WindSun Science & Technology 688663.SS | China | $1.23B | -14% | -9% | 3% | 36.5× | 48.5% | +18.9% |
| Aurora Optoelectronics 600666.SS | China | $1.22B | -44% | +44% | -15% | n/a | 35.2% | -1.9% |
| Doosan Fuel Cell 336260.KS | South Korea | $1.33B | -56% | -19% | -31% | n/a | n/a | n/a |
| Fuman Microelectronics 300671.SZ | China | $1.21B | -22% | +71% | 3% | n/a | n/a | n/a |
| Dongguan Tarry Electronics 300976.SZ | China | $1.33B | +4% | +19% | 9% | 15.3× | 17.5% | +27.2% |
| Shenzhen Success Electronics 002289.SZ | China | $1.33B | -9% | +237% | 27% | n/a | 24.4% | +18.8% |
| Shenzhen Fenda Technology 002681.SZ | China | $1.19B | -15% | +7% | -1% | n/a | 27.1% | -5.2% |
| Dongjin Semichem 005290.KS | South Korea | $1.18B | -44% | -4% | 16% | n/a | -4.4% | +5.0% |
| TPV Technology 000727.SZ | China | $1.38B | -23% | +7% | -1% | n/a | n/a | n/a |
| TKD Science and Technology 603738.SS | China | $1.39B | -37% | +20% | 9% | 42.5× | 44.4% | +8.4% |
| Guangdong Suqun New Material 301489.SZ | China | $1.16B | -54% | +24% | 8% | 53.2× | n/a | n/a |
| Nolato NOLA-B.ST | Sweden | $1.40B | +5% | 0% | 10% | 18.8× | 3.9% | +0.2% |
| Suzhou Betely Polymer Materials 301697.SZ | China | $1.44B | n/a | +45% | 5% | n/a | n/a | n/a |
| Harbin Xinguang Optic-Electronics Technology 688011.SS | China | $1.11B | +17% | +14% | -42% | n/a | n/a | n/a |
| Shenzhen AV-Display 300939.SZ | China | $1.07B | +54% | +5% | 3% | n/a | n/a | n/a |
| I-Chiun Precision Industry 2486.TW | Taiwan | $1.05B | -53% | +25% | 7% | 23.3× | n/a | n/a |
| Suzhou K-Hiragawa Electronic Technology 603052.SS | China | $1.03B | -55% | +7% | -10% | n/a | n/a | n/a |