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Makes silicon wafers for the semiconductor industry, a joint venture between Formosa Plastics and Sumco.
Makes silicon wafers for the semiconductor industry, a joint venture between Formosa Plastics and Sumco.
Sells wafers to chip fabs, typically under multi-year contracts, with prices and volumes tied to wafer demand across the industry, so utilisation of its plants is key. Sumco, Japan's second-largest wafer maker, is a partner alongside Formosa Plastics, the Taiwanese industrial group.
In one line: A silicon wafer supplier, like a smaller Sumco/GlobalWafers.
Moat: narrow (process know-how, customer qualification). Silicon wafer purity/process qualification with fabs is a high technical barrier.
Headquarters: Kaohsiung, Taiwan · Founded: 1996 · Employees: 1,471
Size Formosa Sumco Technology (3532.TW) is a Taiwan Industrials company (Industrial Machinery) with a market value of $3.01B, the 125th largest of 687 Taiwan companies the cockpit tracks. Shares closed at NT$256.50 on 6 Nov 2026.
Performance Over six months the shares gained 12.5%, against -17.4% for the median peer and -3.4% for the Taiwan market (cap-weighted) — 2nd highest of 21 in its peer set.
Growth Revenue grew 9.3% over the last twelve months (peer median +16.7%); the operating margin is 4.0% (peer median 10.0%).
Valuation It trades at 50.5× forward earnings against a peer median of 23.6× (3rd most expensive of 18).
Capital Return on invested capital runs 10.4 points below its cost of capital (11.3% WACC).
Next results Next results expected around 11 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | NT$13.3B | NT$12.3B | NT$12.4B | NT$14.9B | NT$16.4B |
| Revenue growth | — | -1% | -17% | -9% | — |
| Gross profit | NT$1.12B | NT$1.80B | NT$2.65B | NT$5.01B | NT$6.16B |
| EBITDA | NT$3.33B | NT$3.06B | NT$3.90B | NT$6.30B | NT$7.24B |
| Net income | NT$502M | NT$614M | NT$1.30B | NT$3.46B | NT$4.82B |
| Free cash flow | NT$635M | -NT$1.38B | -NT$7.56B | -NT$15.1B | NT$1.86B |
| Capital expenditure | NT$1.79B | NT$2.68B | NT$9.52B | NT$18.8B | NT$10.4B |
| Total debt | NT$20.5B | NT$20.5B | NT$21.3B | NT$11.5B | NT$49.2M |
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 |
|---|---|---|---|---|---|---|
| Formosa Sumco Technology 3532.TW | $3.01B | +12% | +9% | 4% | 50.5× | n/a |
| GlobalWafers 6488.TWO | $8.15B | -23% | -6% | 11% | 21.4× | n/a |
| Sumco 3436.T | $3.96B | -28% | +4% | -4% | n/a | n/a |
| Shin-etsu Chemical 4063.T | $66.5B | -27% | +5% | 25% | 17.2× | 8.9% |
| Siltronic WAF.DE | $1.86B | -46% | +1% | -16% | n/a | n/a |
| Wafer Works 6182.TWO | $1.30B | +42% | +9% | 4% | 36.0× | n/a |
| National Silicon Industry 688126.SS | $10.2B | 0% | +33% | -41% | n/a | n/a |
| TCL Zhonghuan Renewable Energy Technology 002129.SZ | $5.68B | +9% | +13% | -27% | n/a | 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 | 3532.TW | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -45.4% | -7.7% | lowest of 21 |
| 6-month return | +12.5% | -17.4% | 2nd highest of 21 |
| Distance from 52-week high | -53.5% | -41.2% | 7th lowest of 21 |
| Revenue growth (TTM) | +9.3% | +16.7% | 8th lowest of 21 |
| Operating margin | 4.0% | 10.0% | 3rd lowest of 21 |
| Forward P/E | 50.5× | 23.6× | 3rd most expensive of 18 |
| ROIC minus cost of capital | -10.4 pp | +0.4 pp | 2nd lowest of 21 |
| EV / EBITDA | 35.5× | 19.4× | 2nd most expensive of 10 |
| Net debt / EBITDA | 5.6× | -0.7× | most indebted of 10 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Formosa Sumco Technology 3532.TW | Taiwan | $3.01B | +12% | +9% | 4% | 50.5× | n/a | n/a |
| Bozhon Precision Industry Technology 688097.SS | China | $3.00B | -23% | +74% | 7% | 23.6× | n/a | n/a |
| Catcher Technology 2474.TW | Taiwan | $2.99B | -14% | -18% | 10% | 16.3× | 12.4% | -25.7% |
| China First Heavy Industries 601106.SS | China | $2.98B | -36% | 0% | 0% | n/a | n/a | n/a |
| Worthington Enterprises WOR | United States | $2.98B | +11% | +18% | 6% | 15.7× | 24.7% | -15.3% |
| AIA Engineering AIAENG.NS | India | $3.08B | -22% | +7% | 24% | 22.8× | 20.4% | +9.1% |
| Jack Technology 603337.SS | China | $3.09B | +15% | +13% | 10% | 22.8× | 4.2% | +13.3% |
| SIASUN Robot & Automation 300024.SZ | China | $3.12B | -11% | +11% | -7% | 235.7× | n/a | n/a |
| Takasago Thermal Engineering 1969.T | Japan | $3.13B | -21% | +2% | 11% | 10.8× | 3.8% | +9.0% |
| Infore Environment Technology 000967.SZ | China | $3.14B | -53% | +20% | 8% | 26.5× | -0.8% | -0.7% |
| Shenzhen Zhaowei Machinery & Electronics 2692.HK | Hong Kong | $3.16B | -52% | +5% | 9% | 34.8× | 33.0% | +6.8% |
| Tokyo Seimitsu 7729.T | Japan | $3.16B | -29% | +17% | 22% | 15.2× | 16.0% | +11.4% |
| Fuji 6134.T | Japan | $2.85B | -23% | +45% | 20% | 9.9× | n/a | n/a |
| Carel Industries CRL.MI | Italy | $3.24B | -11% | +17% | 15% | 30.5× | 23.3% | +13.7% |
| Nabtesco 6268.T | Japan | $2.77B | -28% | -8% | 9% | 17.6× | 7.8% | +2.0% |
| Beijing Jingyi Automation Equipment 688652.SS | China | $2.73B | -10% | +34% | 9% | 77.6× | 49.0% | +32.4% |
| SINOMACH Heavy Equipment 601399.SS | China | $3.33B | -28% | 0% | 4% | n/a | n/a | n/a |
| Kaori Heat Treatment 8996.TW | Taiwan | $3.34B | -1% | +108% | 16% | 42.6× | 46.0% | +25.9% |
| Moon Environment Technology 000811.SZ | China | $3.34B | -10% | +27% | 10% | 25.8× | 20.9% | +11.8% |
| Guangzhou Haozhi Industrial 300503.SZ | China | $2.70B | -8% | +55% | 20% | n/a | n/a | n/a |
| Dongguan Yiheda Automation 301029.SZ | China | $2.65B | -2% | +31% | 18% | 27.1× | 21.6% | +19.5% |