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Taiwan IP-licensing company whose embedded non-volatile memory (NeoFuse OTP/anti-fuse) technology is licensed into other companies' chip designs.
Taiwan IP-licensing company whose embedded non-volatile memory (NeoFuse OTP/anti-fuse) technology is licensed into other companies' chip designs.
Earns twice from the same design: a licence fee when a chip designer adopts its memory block, and later a royalty on each wafer the foundry ships using it, which is why TSMC and other foundries are partners. It makes no chips itself.
In one line: A tiny, royalty-model chip-IP licensor, in the spirit of ARM's model but for embedded memo.
Moat: wide (IP / patents, switching costs, distribution). Embedded-memory IP is pre-qualified into major foundries' process design kits, hard to swap out once designed in.
Headquarters: Hsinchu, Taiwan · Founded: 2000 · Employees: 342
Size eMemory Technology (3529.TWO) is a Taiwan Information Technology company (Semiconductors) with a market value of $4.17B, the 102nd largest of 687 Taiwan companies the cockpit tracks. Shares closed at NT$1,885 on 6 Nov 2026.
Performance Over six months the shares fell 57.6%, against -31.3% for the median peer and -3.4% for the Taiwan market (cap-weighted) — 2nd lowest of 19 in its peer set.
Growth Revenue grew 16.7% over the last twelve months (peer median +24.3%); the operating margin is 61.3% (peer median 4.2%).
Valuation It trades at 45.0× forward earnings against a peer median of 22.5× (7th most expensive of 15).
Price implies For today's price to make sense, revenue must grow about 32% a year for seven years (Req g). Recent delivered growth is +17%, so the hurdle is +15 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.
Next results Next results expected around 9 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | NT$4.45B | NT$3.85B | NT$3.61B | NT$3.05B | NT$3.22B |
| Revenue growth | — | +7% | +18% | -5% | — |
| Gross profit | n/a | n/a | NT$3.46B | NT$2.92B | NT$3.14B |
| EBITDA | NT$2.91B | NT$2.43B | NT$2.14B | NT$1.82B | NT$1.93B |
| Net income | NT$2.38B | NT$1.91B | NT$1.83B | NT$1.47B | NT$1.61B |
| Free cash flow | NT$2.60B | NT$2.01B | NT$1.94B | NT$1.25B | NT$1.64B |
| Capital expenditure | NT$178M | NT$313M | NT$164M | NT$363M | NT$76.2M |
| Total debt | NT$11.0M | NT$7.53M | NT$11.6M | NT$33.7M | NT$5.54M |
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 |
|---|---|---|---|---|---|---|
| eMemory Technology 3529.TWO | $4.17B | -58% | +17% | 61% | 45.0× | 32.2% |
| Synopsys SNPS | $86.3B | -13% | +46% | 12% | 25.6× | 39.2% |
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 | 3529.TWO | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -40.2% | -17.2% | 3rd lowest of 21 |
| 6-month return | -57.6% | -31.3% | 2nd lowest of 19 |
| Distance from 52-week high | -60.6% | -54.3% | 8th lowest of 21 |
| Revenue growth (TTM) | +16.7% | +24.3% | 9th lowest of 21 |
| Operating margin | 61.3% | 4.2% | highest of 21 |
| Forward P/E | 45.0× | 22.5× | 7th most expensive of 15 |
| Growth the price implies (Req g, 7 yrs) | 32.2% | 25.9% | 4th most demanding of 9 |
| Growth delivered (Del g) | +16.7% | +9.1% | 5th highest of 9 |
| Hurdle (Req g minus delivered) | +15.5 pp | +20.2 pp | 4th least demanding of 9 |
| EV / EBITDA | 46.1× | 24.3× | 2nd most expensive of 7 |
| Net debt / EBITDA | -1.3× | 0.6× | 3rd least indebted of 9 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| eMemory Technology 3529.TWO | Taiwan | $4.17B | -58% | +17% | 61% | 45.0× | 32.2% | +16.7% |
| Shanghai Aiko Solar Energy 600732.SS | China | $4.23B | -13% | +25% | -8% | n/a | n/a | n/a |
| Hunan Goke Microelectronics 300672.SZ | China | $4.24B | -27% | +54% | 5% | 56.9× | 46.0% | +19.7% |
| Applied Optoelectronics AAOI | United States | $4.26B | -66% | +62% | -11% | 23.5× | n/a | n/a |
| Premier Energies PREMIERENE.NS | India | $4.28B | -13% | +32% | 25% | 19.7× | n/a | n/a |
| Jiangsu Leadmicro Nano Technology 688147.SS | China | $4.06B | -26% | -5% | 3% | 82.1× | n/a | n/a |
| Hanwha Solutions 009830.KS | South Korea | $4.30B | -49% | +14% | 0% | 20.1× | n/a | n/a |
| Chengdu Ultra Pure Applied Materials 301717.SZ | China | $4.03B | n/a | +93% | 42% | n/a | n/a | n/a |
| Allwinner Technology 300458.SZ | China | $4.02B | -25% | +26% | 15% | 57.3× | n/a | n/a |
| Shenzhen Goodix Technology 603160.SS | China | $4.35B | -2% | -7% | 6% | 51.0× | 26.7% | -6.8% |
| Bestechnic (Shanghai) 688608.SS | China | $4.41B | +2% | -26% | 8% | 50.6× | 42.7% | +27.1% |
| Chongqing Genori Technology 688797.SS | China | $4.45B | n/a | +37% | 29% | n/a | n/a | n/a |
| Trina Solar 688599.SS | China | $3.90B | -36% | -3% | -9% | n/a | -4.3% | +17.9% |
| MaxLinear MXL | United States | $4.48B | -51% | +56% | -1% | 12.1× | n/a | n/a |
| Loongson Technology 688047.SS | China | $3.86B | -44% | +24% | -76% | n/a | n/a | n/a |
| Maxscend Microelectronics 300782.SZ | China | $4.51B | -47% | -6% | -25% | n/a | n/a | n/a |
| Macronix International 2337.TW | Taiwan | $4.52B | -53% | +127% | 38% | 1.8× | -7.5% | -6.2% |
| Shanghai Fudan Microelectronics 1385.HK | Hong Kong | $4.55B | -48% | +21% | 13% | 12.7× | 19.3% | +18.1% |
| Soitec SOI.PA | France | $3.79B | -38% | -34% | -6% | 141.8× | 25.0% | +0.3% |
| Powertech Technology 6239.TW | Taiwan | $4.61B | -11% | +24% | 13% | 13.2× | n/a | n/a |
| Synaptics SYNA | United States | $4.63B | -7% | +11% | -3% | 21.6× | 34.6% | -2.2% |