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Legacy LCD panel maker that has pivoted much of its business toward Taipei real estate development.
Legacy LCD panel maker that has pivoted much of its business toward Taipei real estate development.
Still sells small and mid-size LCD panels, but a sizeable part of its profit potential now comes from property in Taipei, where land and building sales or development gains arrive in lumps, so earnings are uneven from year to year.
Moat: none. Commoditized legacy panel business with no scale edge; real estate arm is asset-driven, not moat-driven.
Headquarters: Taipei, Taiwan · Founded: 1998 · Employees: 1,984
Size Hannstar Display (6116.TW) is a Taiwan Information Technology company (Semiconductors) with a market value of $1.01B, the 269th largest of 687 Taiwan companies the cockpit tracks. Shares closed at NT$12.15 on 6 Nov 2026.
Performance Over six months the shares gained 42.8%, against -27.4% for the median peer and -3.4% for the Taiwan market (cap-weighted) — highest of 21 in its peer set.
Growth Revenue grew 4.2% over the last twelve months (peer median +5.8%); the operating margin is -24.9% (peer median 3.7%).
Valuation It trades at 18.4× forward earnings against a peer median of 34.2× (3rd cheapest of 14).
Price implies For today's price to make sense, revenue must grow about 15% a year for seven years (Req g). Recent delivered growth is -10%, so the hurdle is +25 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 15.2 points below its cost of capital (8.5% WACC).
Next results Next results expected around 25 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | NT$11.6B | NT$11.4B | NT$9.96B | NT$12.4B | NT$17.0B |
| Revenue growth | — | +15% | -19% | -28% | — |
| Gross profit | -NT$1.20B | -NT$1.76B | -NT$3.60B | -NT$2.54B | NT$403M |
| EBITDA | -NT$81.4M | -NT$518M | -NT$2.44B | -NT$2.11B | NT$832M |
| Net income | -NT$551M | -NT$2.14B | -NT$5.32B | -NT$4.67B | -NT$2.52B |
| Free cash flow | NT$1.04B | -NT$950M | -NT$5.18B | -NT$6.95B | -NT$3.34B |
| Capital expenditure | NT$631M | NT$871M | NT$2.40B | NT$4.88B | NT$3.34B |
| Total debt | NT$4.02B | NT$4.30B | NT$6.52B | NT$4.06B | NT$2.75B |
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 |
|---|---|---|---|---|---|---|
| Hannstar Display 6116.TW | $1.01B | +43% | +4% | -25% | 18.4× | 14.9% |
| Innolux 3481.TW | $8.71B | +32% | +11% | 0% | 62.6× | 37.3% |
| AUO 2409.TW | $6.02B | +49% | -1% | -2% | n/a | n/a |
| Highwealth Construction 2542.TW | $2.42B | -5% | +111% | 25% | 4.3× | 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 | 6116.TW | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -23.6% | -16.3% | 6th lowest of 21 |
| 6-month return | +42.8% | -27.4% | highest of 21 |
| Distance from 52-week high | -46.5% | -50.7% | 10th highest of 21 |
| Revenue growth (TTM) | +4.2% | +5.8% | 10th lowest of 21 |
| Operating margin | -24.9% | 3.7% | 3rd lowest of 21 |
| Forward P/E | 18.4× | 34.2× | 3rd cheapest of 14 |
| Growth the price implies (Req g, 7 yrs) | 14.9% | 30.8% | 4th least demanding of 13 |
| Growth delivered (Del g) | -10.2% | +6.7% | lowest of 13 |
| Hurdle (Req g minus delivered) | +25.1 pp | +15.2 pp | 5th most demanding of 13 |
| ROIC minus cost of capital | -15.2 pp | -3.1 pp | 3rd lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Hannstar Display 6116.TW | Taiwan | $1.01B | +43% | +4% | -25% | 18.4× | 14.9% | -10.2% |
| ELAN Microelectronics 2458.TW | Taiwan | $996M | -18% | -8% | 21% | 19.1× | -2.8% | -4.0% |
| Suzhou Oriental Semiconductor 688261.SS | China | $994M | -27% | +18% | 0% | 38.3× | n/a | n/a |
| Wuxi DK Electronic Materials 300842.SZ | China | $1.03B | -48% | +36% | 4% | 34.2× | n/a | n/a |
| Shanghai Fortune Techgroup 300493.SZ | China | $1.04B | -15% | +3% | 3% | 59.6× | 35.9% | +15.8% |
| Guangdong Leadyo IC Testing 688135.SS | China | $990M | -23% | +28% | 6% | 236.1× | n/a | n/a |
| Koh Young Technology 098460.KS | South Korea | $987M | -49% | +57% | 15% | 25.1× | 20.5% | +5.3% |
| Beijing OnMicro Electronics 688790.SS | China | $1.04B | -51% | -10% | -16% | n/a | 41.4% | +26.8% |
| Beijing Jingyuntong Technology 601908.SS | China | $1.05B | -26% | -32% | -49% | n/a | -5.1% | -5.1% |
| Hengbao 002104.SZ | China | $977M | -35% | -17% | -9% | n/a | n/a | n/a |
| Telink Semiconductor (Shanghai) 688591.SS | China | $1.05B | -15% | +7% | 4% | 82.2× | n/a | n/a |
| Guizhou Zhenhua Fengguang Semiconductor 688439.SS | China | $1.05B | -28% | -39% | 4% | 14.9× | 18.6% | +16.1% |
| GCS 4991.TWO | Taiwan | $1.06B | -61% | +52% | 20% | 37.8× | 39.2% | +8.2% |
| Shanghai Prisemi Electronics 688230.SS | China | $970M | -23% | +31% | 19% | n/a | 31.1% | +1.3% |
| Foshan Electrical and Lighting 000541.SZ | China | $967M | -8% | -3% | -2% | 22.5× | n/a | n/a |
| Scientech 3583.TW | Taiwan | $1.07B | -46% | +9% | 14% | 16.0× | 10.4% | +26.0% |
| Jiangsu Zongyi 600770.SS | China | $961M | -35% | +64% | -4% | n/a | 43.6% | +4.7% |
| Semitronix 301095.SZ | China | $1.07B | -35% | +29% | 0% | 59.8× | 58.0% | +42.7% |
| Focus Lightings Tech 300708.SZ | China | $1.07B | -14% | -38% | 9% | 28.6× | n/a | n/a |
| Eastcompeace Technology 002017.SZ | China | $1.08B | -34% | +4% | 10% | n/a | 30.4% | +4.5% |
| Dioo Microcircuits Co., Ltd. Jiangsu 688381.SS | China | $948M | -15% | -18% | -46% | n/a | n/a | n/a |