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← CockpitCompetitor Analysis › 3693.TWO AIC, Inc.Open in the cockpit ↗

AIC, Inc.3693.TWOCompetitor analysis, valuation and peers

Taiwan · TWD·Information Technology›Packaged Software
Momentum neutral 45
Competitor Analysis ▸ ChartsOpen in the cockpit
Mkt cap
$667M
US dollars, full cap
Free float
88%
of shares outstanding
$/day
$44.3M
20-day average traded
Fwd P/E
n/m
no positive forecast
ROIC−WACC
+3.0 pp
WACC 7.9%
Hurdle
+3 pp
Req g minus delivered
Close · TWDNT$513.00
1D-5.5%
1W-16.9%
1M-25.5%
3M+2.9%
6M-22.1%
YTD+83.5%
1Y+93.6%
ATR %9.0%
52w lowhigh35.0% off high

What AIC does

No business profile yet.

AIC at a glance

Size AIC (3693.TWO) is a Taiwan Information Technology company (Packaged Software) with a market value of $667M, the 354th largest of 687 Taiwan companies the cockpit tracks. Shares closed at NT$513.00 on 6 Nov 2026.

Performance Over six months the shares fell 22.1%, against -12.7% for the median peer and -3.4% for the Taiwan market (cap-weighted) — 8th lowest of 21 in its peer set.

Growth Revenue fell 20.8% over the last twelve months (peer median +4.1%); the operating margin is 7.7% (peer median 2.1%).

Valuation It trades at 2.9× enterprise value to sales against a peer median of 2.1× (8th most expensive of 20).

Price implies For today's price to make sense, revenue must grow about 23% a year for seven years (Req g). Recent delivered growth is +20%, so the hurdle is +3 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.

Capital Return on invested capital runs 3.0 points above its cost of capital (7.9% WACC).

Relative performance

608010011 May 202611 Aug 20266 Nov 2026Peer median 883693.TWO 77
Six months, rebased to 100: AIC against the median of its 20 peers (local-currency closes).

AIC financials

Reported figures in TWD; fiscal year ends 2025-12-31. TTM = trailing twelve months.
TTMFY2025FY2024FY2023FY2022
RevenueNT$7.31BNT$7.52BNT$8.54BNT$8.79BNT$5.51B
Revenue growth—-12%-3%+60%—
Gross profitNT$1.83BNT$2.03BNT$2.62BNT$2.42BNT$1.42B
EBITDANT$781MNT$1.07BNT$1.42BNT$1.37BNT$694M
Net incomeNT$663MNT$666MNT$1.09BNT$928MNT$455M
Free cash flowNT$197MNT$1.12BNT$568MNT$945M-NT$123M
Capital expenditureNT$920MNT$589MNT$323MNT$786MNT$60.9M
Total debtNT$471MNT$482MNT$258MNT$1.43BNT$1.07B

Quarterly statements and history in the cockpit →

AIC competitor charts

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.

Performance: 6-month against 1-month return

-20%0%+20%-20%0%600756300996NEWGENSPT688207300271300227301491002322SABRALFAPRTHHYQ688418688023600571UBI0029193693.TWO6-month return →1-month return →
Up and to the right = strong over both horizons. AIC is the large dot.

Fundamentals: revenue growth against valuation

0%+50%0×10×20×600756300996NEWGENSPT688207300271300227301491SABRDDIHYQ688418UBI3693.TWORevenue growth (TTM) →EV / Sales →
Further right = faster growth; higher = more expensive. The dashed lines are the peer medians. AIC is the large dot.

Capital: growth delivered against growth the price implies

0%+10%+20%+30%0%10%20%30%NEWGENSPT301491002322ALFAPRTHHYQ6880230029193693.TWOGrowth delivered (Del g) →Growth the price implies (Req g, 7 yrs) →
Above the diagonal = the price needs more growth than the company has been delivering; below = the price already allows for a slowdown. AIC is the large dot.

AIC competitors and peer comparison

How AIC compares with its peers

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.

AIC against its 20 peers (data as of 6 Nov 2026)
Measure3693.TWOPeer medianRank in peer set
1-month return-25.5%-2.3%lowest of 21
6-month return-22.1%-12.7%8th lowest of 21
Distance from 52-week high-35.0%-38.1%8th highest of 21
Revenue growth (TTM)-20.8%+4.1%3rd lowest of 21
Operating margin7.7%2.1%10th highest of 21
EV / Sales2.9×2.1×8th most expensive of 20
Growth the price implies (Req g, 7 yrs)22.9%2.9%2nd most demanding of 10
Growth delivered (Del g)+20.2%+10.3%2nd highest of 10
Hurdle (Req g minus delivered)+2.6 pp-4.7 pp4th most demanding of 10
ROIC minus cost of capital+3.0 pp-9.1 pp10th highest of 21
EV / EBITDA26.7×8.7×most expensive of 8
Net debt / EBITDA-1.6×0.4×4th least indebted of 9

Peer table

Peer set: Industry: the same industry and sector in any market, nearest in size
CompanyMarketMarket cap6M returnRevenue growthOp. marginEV / SalesReq gDelivered g
AIC 3693.TWOTaiwan$667M-22%-21%8%2.9×22.9%+20.2%
Inspur Software 600756.SSChina$669M-23%-25%-25%3.4×n/an/a
Pansoft 300996.SZChina$665M-11%-4%11%5.1×n/an/a
Newgen Software Technologies NEWGEN.NSIndia$665M-12%+6%24%3.1×21.7%+18.5%
Sprout Social SPTUnited States$669M+63%+11%-5%1.2×0.2%+28.0%
Beijing Deep Glint Technology 688207.SSChina$663M+15%-14%-195%27.3×n/an/a
Beijing Thunisoft 300271.SZChina$663M-13%+11%-9%1.8×n/an/a
Shenzhen Sunshine Laser & Electronics Technology 300227.SZChina$673M-33%+90%-15%2.5×n/an/a
Hansong (Nanjing) Technology 301491.SZChina$673M-28%+26%10%1.4×-1.4%+9.7%
Ningbo Ligong Environment and Energy Technology 002322.SZChina$677M+9%+9%26%3.5×-5.4%-0.8%
Sabre SABRUnited States$680M-18%-3%14%1.5×n/an/a
Hello Group Inc. Sponsored ADR MOMOUnited States$654M-26%0%11%n/an/an/a
DoubleDown Interactive Co., Ltd. Sponsored ADR DDIUnited States$682M+17%+14%38%0.4×n/an/a
Alfa Financial Software ALFA.LUnited Kingdom$651M+4%+8%30%3.6×-2.0%+9.9%
Priority Technology PRTHUnited States$650M+18%+9%14%1.6×2.9%+18.7%
Hypoport HYQ.DEGermany$648M-2%-5%6%1.1×22.2%+9.2%
Genew Technologies 688418.SSChina$688M-49%-12%-22%6.5×n/an/a
DBAPPSecurity 688023.SSChina$646M-6%+2%-5%1.8×5.6%+10.3%
Sunyard Technology 600571.SSChina$690M-22%+1%-1%2.1×n/an/a
UBISOFT Entertainment UBI.PAFrance$692M-15%-27%-87%0.7×n/an/a
Mingchen Health 002919.SZChina$640M-33%+19%-5%2.4×27.2%+17.5%

Questions

Which companies are AIC's closest peers?
The cockpit's peer set: Inspur Software (600756.SS), Pansoft (300996.SZ), Newgen Software Technologies (NEWGEN.NS), Sprout Social (SPT), Beijing Deep Glint Technology (688207.SS), Beijing Thunisoft (300271.SZ), Shenzhen Sunshine Laser & Electronics Technology (300227.SZ), Hansong (Nanjing) Technology (301491.SZ).
Is AIC expensive compared with its peers?
On ev / sales it trades at 2.9× against a peer median of 2.1×, 8th most expensive of 20 in its peer set. For today's price to make sense, revenue must grow about 23% a year for seven years (Req g). Recent delivered growth is +20%, so the hurdle is +3 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.
How has AIC stock performed?
Over six months to 6 Nov 2026 the shares returned -22.1% against -12.7% for the median peer; over one year +93.6%.

How these numbers are made. Returns are close-to-close in local currency. Revenue growth and margins are trailing twelve months. Req g is the revenue growth that today's enterprise value requires for seven years at the company's own cost of capital; Delivered g is what it actually grew; the gap is the hurdle (honest precision about ±8 points, so read the ranking more than the decimal). No fair values, price targets or analyst ratings are shown, by design. Method and validation.