Employees: 535
Size Lumax International (6192.TW) is a Taiwan Information Technology company (Electronic Equipment/Instruments) with a market value of $311M, the 640th largest of 687 Taiwan companies the cockpit tracks. Shares closed at NT$107.00 on 6 Nov 2026.
Performance Over six months the shares fell 12.3%, against -26.7% for the median peer and -3.4% for the Taiwan market (cap-weighted) — 6th highest of 21 in its peer set.
Growth Revenue fell 3.5% over the last twelve months (peer median -3.0%); the operating margin is 16.0% (peer median 2.7%).
Valuation It trades at 9.1× forward earnings against a peer median of 17.6× (3rd cheapest of 11).
Price implies For today's price to make sense, revenue must grow about -21% a year for seven years (Req g). Recent delivered growth is +4%, so the hurdle is -25 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 26.1 points above its cost of capital (5.0% WACC).
Next results Next results expected around 16 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | NT$7.57B | NT$7.36B | NT$7.83B | NT$6.73B | NT$6.55B |
| Revenue growth | — | -6% | +16% | +3% | — |
| Gross profit | NT$2.41B | NT$2.36B | NT$2.28B | NT$2.10B | NT$2.11B |
| EBITDA | NT$1.27B | NT$1.28B | NT$1.22B | NT$1.11B | NT$1.17B |
| Net income | NT$994M | NT$967M | NT$1.01B | NT$786M | NT$890M |
| Free cash flow | NT$1.47B | NT$863M | NT$671M | NT$715M | NT$293M |
| Capital expenditure | NT$133M | NT$54.3M | NT$238M | NT$116M | NT$135M |
| Total debt | NT$53.2M | NT$74.9M | NT$52.6M | NT$91.5M | NT$56.0M |
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| Measure | 6192.TW | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -3.2% | -17.0% | highest of 21 |
| 6-month return | -12.3% | -26.7% | 6th highest of 21 |
| Distance from 52-week high | -21.3% | -44.5% | 2nd highest of 21 |
| Revenue growth (TTM) | -3.5% | -3.0% | 11th highest of 21 |
| Operating margin | 16.0% | 2.7% | highest of 21 |
| Forward P/E | 9.1× | 17.6× | 3rd cheapest of 11 |
| Growth the price implies (Req g, 7 yrs) | -20.6% | 13.4% | least demanding of 12 |
| Growth delivered (Del g) | +4.4% | +8.4% | 6th lowest of 12 |
| Hurdle (Req g minus delivered) | -25.0 pp | +18.3 pp | 3rd least demanding of 12 |
| ROIC minus cost of capital | +26.1 pp | -5.9 pp | highest of 21 |
| EV / EBITDA | 4.6× | 12.8× | cheapest of 10 |
| Net debt / EBITDA | -3.5× | -0.0× | 5th least indebted of 12 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Lumax International 6192.TW | Taiwan | $311M | -12% | -4% | 16% | 9.1× | -20.6% | +4.4% |
| Zhejiang Prulde Electric Appliance 301353.SZ | China | $312M | -26% | +20% | 7% | n/a | n/a | n/a |
| Judges Scientific JDG.L | United Kingdom | $305M | -33% | -8% | 3% | 17.1× | 31.1% | +12.8% |
| Sms Electric 002857.SZ | China | $303M | -31% | -48% | -20% | 31.5× | n/a | n/a |
| UTECHZONE 3455.TWO | Taiwan | $297M | -43% | -23% | 2% | n/a | n/a | n/a |
| Guangdong Fangyuan New Materials 688148.SS | China | $328M | -59% | +27% | 0% | n/a | n/a | n/a |
| Cmc Magnetics 2323.TW | Taiwan | $287M | -6% | +7% | 2% | n/a | 13.4% | -5.2% |
| Jiangsu Skyray Instrument 300165.SZ | China | $340M | -38% | -8% | -16% | n/a | 7.8% | -8.0% |
| ZheJiang Tailin Bioengineering 300813.SZ | China | $340M | -27% | +6% | 2% | n/a | n/a | n/a |
| INTEKPLUS 064290.KS | South Korea | $347M | +18% | -12% | -11% | 112.1× | n/a | n/a |
| Kyosan Electric Manufacturing 6742.T | Japan | $350M | +26% | +9% | 7% | 8.3× | 2.0% | +8.4% |
| Shenzhen Maxonic Automation Control 300112.SZ | China | $350M | -13% | -6% | -2% | n/a | n/a | n/a |
| Chongqing MAS Science & Technology 300275.SZ | China | $351M | -28% | -13% | 6% | 17.1× | 35.3% | +9.0% |
| MicroTech Medical (Hangzhou) 2235.HK | Hong Kong | $354M | -15% | +95% | 8% | 26.7× | 3.5% | +53.2% |
| Hefei Gocom Information Technology 688367.SS | China | $357M | -33% | -10% | -1% | n/a | 55.8% | -1.3% |
| General Oceans GENO.OL | Norway | $359M | -32% | +34% | 13% | 18.1× | -1.9% | +34.3% |
| Beijing AriTime Intelligent Control 600560.SS | China | $359M | -26% | +33% | 4% | n/a | n/a | n/a |
| Nagano Keiki 7715.T | Japan | $364M | +1% | +2% | 11% | 8.1× | -0.4% | +8.6% |
| Beijing Labtech Instruments 688056.SS | China | $368M | -1% | 0% | 5% | 66.2× | 34.7% | +2.8% |
| NEOSEM 253590.KS | South Korea | $369M | -37% | -31% | 5% | 13.0× | n/a | n/a |
| Hangzhou Huaxing Chuangye Communication Technology 300025.SZ | China | $373M | -15% | -16% | -24% | n/a | 36.0% | -6.5% |