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Taiwan OSAT specializing in wafer probing and final test for power, analog and sensor ICs.
Taiwan OSAT specializing in wafer probing and final test for power, analog and sensor ICs.
Charges customers for each wafer probed and each chip tested, using expensive test equipment, so profit depends on keeping that equipment busy, and the loss of a few big IC-designer customers would hit volumes. Once its test programs are validated for a chip, customers rarely move them.
In one line: A test-focused, Taiwan-sized Amkor Technology.
Moat: narrow (process know-how, customer qualification). Test programs are qualified to specific chip designs, creating switching friction once validated.
Headquarters: Hsinchu, Taiwan · Employees: 2,943
Size Ardentec (3264.TWO) is a Taiwan Industrials company (Miscellaneous Commercial Services) with a market value of $2.36B, the 148th largest of 687 Taiwan companies the cockpit tracks. Shares closed at NT$164.50 on 6 Nov 2026.
Performance Over six months the shares fell 30.1%, against +6.6% for the median peer and -3.4% for the Taiwan market (cap-weighted) — 3rd lowest of 21 in its peer set.
Growth Revenue grew 31.9% over the last twelve months (peer median +12.3%); the operating margin is 30.3% (peer median 13.5%).
Valuation It trades at 12.3× forward earnings against a peer median of 21.0× (4th cheapest of 19).
Price implies For today's price to make sense, revenue must grow about 5% a year for seven years (Req g). Recent delivered growth is +8%, so the hurdle is -2 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 10.0 points above its cost of capital (7.5% WACC).
Next results Next results expected around 19 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | NT$17.7B | NT$14.0B | NT$13.1B | NT$14.1B | NT$14.5B |
| Revenue growth | — | +7% | -7% | -3% | — |
| Gross profit | NT$9.76B | NT$5.08B | NT$3.67B | NT$4.86B | NT$5.91B |
| EBITDA | n/a | NT$6.70B | NT$6.49B | NT$7.43B | NT$7.86B |
| Net income | NT$4.40B | NT$2.84B | NT$2.10B | NT$2.75B | NT$3.55B |
| Free cash flow | n/a | NT$1.97B | NT$2.67B | NT$769M | NT$824M |
| Capital expenditure | n/a | NT$3.86B | NT$3.81B | NT$5.47B | NT$6.24B |
| Total debt | n/a | NT$11.7B | NT$12.5B | NT$11.9B | NT$10.9B |
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 |
|---|---|---|---|---|---|---|
| Ardentec 3264.TWO | $2.36B | -30% | +32% | 30% | 12.3× | 5.2% |
| Sigurd Microelectronics 6257.TW | $2.33B | -19% | +12% | 22% | 14.0× | n/a |
| King Yuan Electronics 2449.TW | $8.00B | -42% | +35% | 27% | 19.5× | n/a |
| ChipMOS Technologies 8150.TW | $1.49B | -17% | +19% | 8% | 12.2× | n/a |
| Ase Technology 3711.TW | $70.4B | +2% | +25% | 11% | 17.3× | 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 | 3264.TWO | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -31.9% | -0.4% | 3rd lowest of 21 |
| 6-month return | -30.1% | +6.6% | 3rd lowest of 21 |
| Distance from 52-week high | -43.6% | -24.1% | 6th lowest of 21 |
| Revenue growth (TTM) | +31.9% | +12.3% | 4th highest of 20 |
| Operating margin | 30.3% | 13.5% | highest of 21 |
| Forward P/E | 12.3× | 21.0× | 4th cheapest of 19 |
| Growth the price implies (Req g, 7 yrs) | 5.2% | -1.2% | 8th most demanding of 16 |
| Growth delivered (Del g) | +7.7% | +16.9% | 5th lowest of 15 |
| Hurdle (Req g minus delivered) | -2.5 pp | -9.0 pp | 5th most demanding of 15 |
| ROIC minus cost of capital | +10.0 pp | +0.7 pp | highest of 19 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Ardentec 3264.TWO | Taiwan | $2.36B | -30% | +32% | 30% | 12.3× | 5.2% | +7.7% |
| Sigurd Microelectronics 6257.TW | Taiwan | $2.33B | -19% | +12% | 22% | 14.0× | n/a | n/a |
| V2X VVX | United States | $2.39B | +9% | +13% | 4% | 11.3× | -1.4% | +26.3% |
| Suzhou Nanomicro Technology 688690.SS | China | $2.31B | +17% | +26% | 25% | 57.1× | 35.3% | +35.2% |
| Shanghai GenTech 688596.SS | China | $2.42B | +56% | +4% | 2% | 76.5× | n/a | n/a |
| S-1 012750.KS | South Korea | $2.45B | +14% | +1% | 7% | 21.8× | -1.2% | +5.4% |
| TIC Solutions TIC | United States | $2.26B | +5% | +39% | -1% | n/a | 51.8% | n/a |
| KWS SAAT SE & Co KGaA KWS.DE | Germany | $2.48B | -12% | -3% | 15% | 13.2× | -8.2% | +4.4% |
| Visional 4194.T | Japan | $2.51B | +32% | +24% | 25% | 20.2× | -2.4% | +28.2% |
| Biocytogen Pharmaceuticals (Beijing) 688796.SS | China | $2.22B | -19% | +40% | 24% | 92.6× | 32.3% | +41.1% |
| CECEP Environmental Protection 300140.SZ | China | $2.51B | -18% | -2% | 23% | n/a | -1.2% | +26.0% |
| China Automotive Engineering Research Institute 601965.SS | China | $2.18B | -8% | +12% | 24% | 13.2× | -5.6% | +7.9% |
| Firstsource Solutions FSL.NS | India | $2.16B | +25% | +20% | 12% | 22.0× | 20.3% | +13.5% |
| Sagility SAGILITY.NS | India | $2.15B | +2% | +28% | 18% | 16.4× | 10.3% | +19.5% |
| Hui Lyu Ecological Technology Groups 001267.SZ | China | $2.61B | -59% | +90% | 10% | 71.6× | n/a | n/a |
| International Workplace IWG.L | United Kingdom | $2.63B | +12% | 0% | 4% | 22.5× | 33.6% | +3.3% |
| Huron Consulting HURN | United States | $2.63B | +39% | +12% | 12% | 16.5× | -4.0% | +14.3% |
| Pluxee PLX.PA | France | $2.72B | 0% | +1% | 28% | 8.9× | n/a | n/a |
| CoreCivic CXW | United States | $2.84B | +41% | +24% | 10% | 12.1× | -1.6% | +3.0% |
| Anhui XDLK Microsystem 688582.SS | China | $1.95B | -36% | -38% | 21% | 37.3× | 55.7% | +37.0% |
| Heron Neutron Medical 7799.TW | Taiwan | $1.94B | +15% | n/a | -5,071% | 380.6× | n/a | n/a |