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Fabless chip designer known for DRAM memory products and image-sensor/display interface ICs.
Fabless chip designer known for DRAM memory products and image-sensor/display interface ICs.
Moat: narrow (IP / patents, process know-how). Niche DRAM and vision-interface IP in a market dominated by larger memory makers.
Headquarters: Hsinchu, Taiwan · Founded: 1991 · Employees: 478
Size Etron Technology (5351.TWO) is a Taiwan Information Technology company (Semiconductors) with a market value of $835M, the 305th largest of 687 Taiwan companies the cockpit tracks. Shares closed at NT$84.00 on 6 Nov 2026.
Performance Over six months the shares gained 13.4%, against -19.0% for the median peer and -3.4% for the Taiwan market (cap-weighted) — 3rd highest of 19 in its peer set.
Growth Revenue grew 245.5% over the last twelve months (peer median +9.9%); the operating margin is 21.0% (peer median -1.6%).
Valuation It trades at 2.6× enterprise value to sales against a peer median of 4.6× (7th cheapest of 21).
Price implies For today's price to make sense, revenue must grow about 3% a year for seven years (Req g). Recent delivered growth is +3%, so the hurdle is +1 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 18.3 points above its cost of capital (9.0% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | NT$10.3B | NT$4.04B | NT$3.47B | NT$2.66B | NT$4.68B |
| Revenue growth | — | +16% | +30% | -43% | — |
| Gross profit | NT$3.97B | NT$539M | NT$371M | -NT$158M | NT$1.13B |
| EBITDA | NT$2.42B | -NT$415M | -NT$508M | -NT$1.03B | NT$250M |
| Net income | NT$2.12B | -NT$497M | -NT$541M | -NT$893M | NT$142M |
| Free cash flow | NT$2.09B | -NT$584M | -NT$116M | -NT$186M | -NT$1.47B |
| Capital expenditure | NT$334M | NT$286M | NT$167M | NT$180M | NT$220M |
| Total debt | NT$2.15B | NT$2.40B | NT$1.52B | NT$2.65B | NT$2.87B |
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 | EV / Sales | Req g |
|---|---|---|---|---|---|---|
| Etron Technology 5351.TWO | $835M | +13% | +246% | 21% | 2.6× | 3.3% |
| Nanya Technology 2408.TW | $35.8B | +34% | +586% | 71% | 4.0× | 0.6% |
| Winbond Electronic 2344.TW | $16.4B | +22% | +154% | 43% | 2.6× | 0.6% |
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 | 5351.TWO | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -26.3% | -12.8% | 7th lowest of 21 |
| 6-month return | +13.4% | -19.0% | 3rd highest of 19 |
| Distance from 52-week high | -40.4% | -42.8% | 9th highest of 21 |
| Revenue growth (TTM) | +245.5% | +9.9% | highest of 21 |
| Operating margin | 21.0% | -1.6% | 2nd highest of 21 |
| EV / Sales | 2.6× | 4.6× | 7th cheapest of 21 |
| Growth the price implies (Req g, 7 yrs) | 3.3% | 17.9% | 4th least demanding of 10 |
| Growth delivered (Del g) | +2.6% | +6.6% | 5th lowest of 10 |
| Hurdle (Req g minus delivered) | +0.7 pp | +1.3 pp | 5th least demanding of 10 |
| ROIC minus cost of capital | +18.3 pp | -4.6 pp | 2nd highest of 20 |
| EV / EBITDA | 11.0× | n/a | — |
| Net debt / EBITDA | -0.4× | -3.9× | most indebted of 4 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Etron Technology 5351.TWO | Taiwan | $835M | +13% | +246% | 21% | 2.6× | 3.3% | +2.6% |
| Smarter Microelectronics (Guangzhou) 688512.SS | China | $835M | -11% | +43% | -30% | 5.0× | n/a | n/a |
| General Interface Solution (GIS) 6456.TW | Taiwan | $824M | 0% | -19% | -3% | 0.3× | n/a | n/a |
| Hangzhou Star Shuaier Electric Appliance 002860.SZ | China | $810M | +16% | -14% | 7% | 2.5× | 19.8% | +18.4% |
| Taiwan Speciality Chemicals 4772.TWO | Taiwan | $862M | -38% | +164% | 40% | 7.8× | 11.0% | +36.7% |
| Everlight Electronics 2393.TW | Taiwan | $807M | -17% | -3% | 10% | 0.8× | -11.7% | -1.9% |
| Episil-Precision 3016.TW | Taiwan | $865M | -10% | +30% | 14% | 5.8× | 40.5% | -0.7% |
| Netac Technology 300042.SZ | China | $872M | -44% | +103% | 10% | 2.7× | n/a | n/a |
| Wuxi ETEK Microelectronics 688601.SS | China | $799M | -25% | +15% | -5% | 5.7× | n/a | n/a |
| Henan Ancai Hi-Tech 600207.SS | China | $797M | -13% | -41% | -39% | 4.0× | n/a | n/a |
| VIA Technologies 2388.TW | Taiwan | $874M | -35% | -3% | -12% | 2.5× | 17.9% | +8.0% |
| Arteris AIP | United States | $875M | -44% | +34% | -44% | 9.0× | 55.4% | +17.3% |
| United Renewable Energy 3576.TW | Taiwan | $876M | +15% | -43% | -62% | 12.2× | n/a | n/a |
| Crealights Technology 1191.HK | Hong Kong | $790M | n/a | +42% | -7% | 4.2× | n/a | n/a |
| Shenzhen Baoming Technology 002992.SZ | China | $887M | -38% | -20% | -1% | 5.8× | n/a | n/a |
| Infotmic 000670.SZ | China | $782M | -18% | +38% | 2% | 1.1× | n/a | n/a |
| PixArt Imaging 3227.TWO | Taiwan | $781M | -20% | +5% | 18% | 2.7× | 0.0% | +2.3% |
| Sitronix Technology 8016.TW | Taiwan | $894M | +5% | +18% | 13% | 1.0× | -9.1% | +6.6% |
| Shenzhen Topray Solar 002218.SZ | China | $779M | -32% | -8% | -17% | 6.7× | 35.9% | -5.6% |
| SENASIC Electronics Technology 6675.HK | Hong Kong | $779M | n/a | +45% | -11% | 8.4× | n/a | n/a |
| Zhejiang Chenfeng Science and Technology 603685.SS | China | $896M | -28% | -14% | 4% | 6.9× | n/a | n/a |