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Financing arm of Hotai Motor (Taiwan's Toyota/Lexus distributor), providing auto loans and leasing to vehicle buyers.
Financing arm of Hotai Motor (Taiwan's Toyota/Lexus distributor), providing auto loans and leasing to vehicle buyers.
Funds itself with bank loans and bonds and lends at higher rates to buyers of Toyota and Lexus cars, so profit is the spread minus bad-debt costs. Customers arrive through the dealer network of its parent, Hotai Motor, the Toyota importer, which makes it a captive lender.
In one line: Toyota Financial Services, Taiwan-style.
Moat: narrow (distribution, customer qualification). Captive financing arm tied to Hotai's dominant Toyota/Lexus dealer network in Taiwan.
Headquarters: Taipei, Taiwan
Size Hotai Finance (6592.TW) is a Taiwan Financials company (Finance/Rental/Leasing) with a market value of $1.08B, the 255th largest of 687 Taiwan companies the cockpit tracks. Shares closed at NT$55.80 on 6 Nov 2026.
Performance Over six months the shares fell 6.4%, against -10.3% for the median peer and -3.4% for the Taiwan market (cap-weighted) — 9th highest of 21 in its peer set.
Growth Revenue fell 9.2% over the last twelve months (peer median +8.4%); the operating margin is 18.9% (peer median 30.0%).
Valuation It trades at 0.92× book value against a peer median of 1.51× (7th cheapest of 21).
Price implies The share price implies a return on equity of about 3.4%; Hotai Finance delivers 9.7%, so the price asks less than the business earns today.
Next results Next results expected around 11 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | NT$23.2B | NT$23.7B | NT$29.0B | NT$28.7B | NT$22.8B |
| Revenue growth | — | -18% | +1% | +26% | — |
| Gross profit | NT$13.3B | NT$13.5B | NT$15.3B | NT$15.2B | NT$13.2B |
| EBITDA | NT$5.12B | NT$4.82B | NT$4.99B | NT$6.74B | NT$6.20B |
| Net income | NT$3.60B | NT$3.38B | NT$3.06B | NT$3.69B | NT$3.62B |
| Free cash flow | -NT$1.59B | NT$5.42B | -NT$14.9B | -NT$48.4B | -NT$46.2B |
| Capital expenditure | NT$1.71B | NT$1.97B | NT$2.67B | NT$3.78B | NT$2.51B |
| Total debt | NT$275B | NT$275B | NT$275B | NT$261B | NT$213B |
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 | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| Hotai Finance 6592.TW | $1.08B | -6% | -9% | 10% | 0.92× | 3.4% |
| Taiwan Acceptance 9941.TW | $1.31B | -6% | -3% | 12% | 1.10× | 3.8% |
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 | 6592.TW | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +0.7% | +1.2% | 10th lowest of 21 |
| 6-month return | -6.4% | -10.3% | 9th highest of 21 |
| Return on equity | 9.7% | 11.9% | 9th lowest of 21 |
| Price / book | 0.92× | 1.51× | 7th cheapest of 21 |
| Trailing P/E | 11.3× | 12.5× | 9th cheapest of 20 |
| ROE the price implies | 3.4% | 10.6% | least demanding of 21 |
| ROE delivered | 9.7% | 11.9% | 9th lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| Hotai Finance 6592.TW | Taiwan | $1.08B | -6% | -9% | 10% | 0.92× | 3.4% | 9.7% |
| SBFC Finance SBFC.NS | India | $1.08B | -5% | +28% | 14% | 2.52× | 31.2% | 13.6% |
| Can Fin Homes CANFINHOME.NS | India | $1.05B | -16% | +8% | 19% | 1.55× | 29.3% | 19.4% |
| Willis Lease Finance WLFC | United States | $992M | -37% | +22% | 10% | 1.47× | 11.2% | 10.2% |
| Ricoh Leasing Company,Ltd 8566.T | Japan | $1.20B | 0% | +4% | 5% | 0.77× | 4.3% | 5.3% |
| Home First Finance Company India HOMEFIRST.NS | India | $1.21B | -10% | +19% | 14% | 2.45× | 31.6% | 14.3% |
| Genertec Universal Medical 2666.HK | Hong Kong | $1.21B | -19% | 0% | 12% | 0.41× | 5.1% | 11.6% |
| Sun Hung Kai & 0086.HK | Hong Kong | $958M | -7% | -11% | 6% | 0.33× | 3.9% | 6.2% |
| Aavas Financiers AAVAS.NS | India | $955M | -20% | +12% | 14% | 1.67× | 24.3% | 14.0% |
| Kanamoto 9678.T | Japan | $1.23B | +17% | +2% | 9% | 1.20× | 6.4% | 9.3% |
| Jaccs 8584.T | Japan | $935M | -19% | +2% | 6% | 0.49× | 3.8% | 5.5% |
| Aptus Value Housing Finance India APTUS.NS | India | $927M | -36% | +18% | 20% | 1.60× | 23.2% | 20.3% |
| Altus AIF.TO | Canada | $1.26B | +15% | -7% | -2% | 5.50× | 28.5% | -2.2% |
| SY Holdings Group Limited 6069.HK | Hong Kong | $917M | -25% | +17% | 13% | 1.58× | 7.2% | 13.0% |
| Mcmillan Shakespeare MMS.AX | Australia | $913M | +12% | +8% | 89% | 10.41× | 85.9% | 89.2% |
| Taiwan Acceptance 9941.TW | Taiwan | $1.31B | -6% | -3% | 12% | 1.10× | 3.8% | 12.2% |
| Five-Star Business Finance FIVESTAR.NS | India | $1.33B | -10% | +9% | 15% | 1.59× | 22.3% | 15.2% |
| Walker & Dunlop WD | United States | $1.34B | -28% | +9% | 2% | 0.76× | 10.0% | 2.2% |
| Zhejiang Haikong Nanke Huatie Digital Technology 603300.SS | China | $1.34B | -31% | +12% | 5% | 1.29× | 9.8% | 5.3% |
| Haitong Unitrust International Financial Leasing 1905.HK | Hong Kong | $1.38B | +57% | -20% | 6% | 0.52× | 4.2% | 6.5% |
| Atlanticus ATLC | United States | $1.38B | +8% | +84% | 23% | 1.97× | 24.5% | 22.9% |