Taiwan semiconductor foundry making mature-node logic and specialty chips (display drivers, power ICs, image sensors) for outside customers.
Taiwan semiconductor foundry making mature-node logic and specialty chips (display drivers, power ICs, image sensors) for outside customers.
Makes wafers to customers' designs and charges per wafer, so earnings track how full its factories are. Began as a memory-chip maker and shifted toward contract manufacturing for others. It is the technology partner for Tata's planned chip plant in India.
In one line: A smaller, mature-node Taiwan foundry.
Moat: none (scale). Mature-node foundry capacity is fairly commoditized versus larger peers like UMC and Vanguard.
Headquarters: Hsinchu, Taiwan · Founded: 1994 · Employees: 8,361
Size Powerchip Semiconductor Manufacturing (6770.TW) is a Taiwan Information Technology company (Semiconductors) with a market value of $7.54B, the 67th largest of 687 Taiwan companies the cockpit tracks. Shares closed at NT$52.90 on 6 Nov 2026.
Performance Over six months the shares fell 4.5%, against -23.3% for the median peer and -3.4% for the Taiwan market (cap-weighted) — 5th highest of 21 in its peer set.
Growth Revenue grew 22.2% over the last twelve months (peer median +16.5%); the operating margin is -4.6% (peer median 9.8%).
Valuation It trades at 7.6× forward earnings against a peer median of 24.3× (2nd cheapest of 18).
Price implies For today's price to make sense, revenue must grow about 11% a year for seven years (Req g). Recent delivered growth is 0%, so the hurdle is +11 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 13.4 points below its cost of capital (11.2% WACC).
Next results Next results expected around 21 Jan 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | NT$55.2B | NT$46.7B | NT$44.7B | NT$44.0B | NT$76.1B |
| Revenue growth | — | +4% | +2% | -42% | — |
| Gross profit | NT$5.15B | -NT$2.80B | -NT$1.08B | NT$4.60B | NT$34.9B |
| EBITDA | NT$7.96B | NT$1.63B | NT$391M | NT$2.78B | NT$32.7B |
| Net income | NT$14.1B | -NT$7.81B | -NT$6.78B | -NT$1.64B | NT$21.6B |
| Free cash flow | NT$11.7B | -NT$2.48B | -NT$18.5B | -NT$47.0B | NT$12.8B |
| Capital expenditure | NT$6.37B | NT$8.59B | NT$23.5B | NT$48.0B | NT$19.4B |
| Total debt | NT$30.0B | NT$66.9B | NT$68.0B | NT$55.9B | NT$30.1B |
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 |
|---|---|---|---|---|---|---|
| Powerchip Semiconductor Manufacturing 6770.TW | $7.54B | -5% | +22% | -5% | 7.6× | 11.3% |
| United Micro Electronics 2303.TW | $34.9B | +11% | +13% | 21% | 13.7× | 14.2% |
| Vanguard International Semiconductor 5347.TWO | $6.82B | -22% | +10% | 17% | 17.7× | n/a |
| SMIC 0981.HK | $76.7B | -41% | +20% | 9% | 32.9× | 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 | 6770.TW | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -30.2% | -14.0% | 8th lowest of 21 |
| 6-month return | -4.5% | -23.3% | 5th highest of 21 |
| Distance from 52-week high | -44.0% | -54.0% | 4th highest of 21 |
| Revenue growth (TTM) | +22.2% | +16.5% | 9th highest of 21 |
| Operating margin | -4.6% | 9.8% | 4th lowest of 21 |
| Forward P/E | 7.6× | 24.3× | 2nd cheapest of 18 |
| Growth the price implies (Req g, 7 yrs) | 11.3% | 24.5% | 2nd least demanding of 9 |
| Growth delivered (Del g) | +0.5% | +20.2% | lowest of 9 |
| Hurdle (Req g minus delivered) | +10.8 pp | +6.8 pp | 4th most demanding of 9 |
| ROIC minus cost of capital | -13.4 pp | -3.2 pp | 2nd lowest of 21 |
| EV / EBITDA | 26.5× | 13.7× | most expensive of 8 |
| Net debt / EBITDA | -4.9× | -0.7× | 3rd least indebted of 9 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Powerchip Semiconductor Manufacturing 6770.TW | Taiwan | $7.54B | -5% | +22% | -5% | 7.6× | 11.3% | +0.5% |
| Ingenic Semiconductor 300223.SZ | China | $7.59B | -15% | +89% | 35% | 16.7× | 21.3% | +16.9% |
| WAAREE Energies WAAREEENER.NS | India | $7.41B | -24% | +75% | 16% | 17.3× | n/a | n/a |
| Silicon Laboratories SLAB | United States | $7.39B | +2% | +22% | -3% | 60.3× | n/a | n/a |
| Alchip Technologies Limitd 3661.TW | Taiwan | $7.35B | -32% | -51% | 23% | 14.4× | n/a | n/a |
| Tianshui Huatian Technology 002185.SZ | China | $7.74B | +10% | +33% | 4% | 45.0× | n/a | n/a |
| RMBS RMBS | United States | $7.98B | -42% | +17% | 37% | 19.9× | 24.5% | +23.5% |
| Konfoong Materials International 300666.SZ | China | $8.09B | +9% | +35% | 10% | 53.5× | n/a | n/a |
| Smartsens Technology (Shanghai) 688213.SS | China | $7.01B | +21% | +27% | 13% | 30.9× | 23.1% | +42.7% |
| Shenzhen Techwinsemi Technology 001309.SZ | China | $8.12B | -64% | +317% | 35% | 6.7× | n/a | n/a |
| Amkor Technology AMKR | United States | $8.13B | -57% | +16% | 10% | 12.1× | n/a | n/a |
| Minebea Mitsumi 6479.T | Japan | $6.97B | -13% | +12% | 7% | 11.9× | 10.8% | +11.0% |
| Sanan Optoelectronics 600703.SS | China | $6.87B | -33% | -22% | -7% | n/a | n/a | n/a |
| VeriSilicon Microelectronics (Shanghai) 688521.SS | China | $8.31B | -63% | +39% | -23% | n/a | 40.5% | +15.9% |
| SG Micro 300661.SZ | China | $8.33B | -12% | +46% | 17% | 55.7× | 35.9% | +26.7% |
| Vanguard International Semiconductor 5347.TWO | Taiwan | $6.82B | -22% | +10% | 17% | 17.7× | n/a | n/a |
| Rohm 6963.T | Japan | $6.76B | -19% | +12% | 4% | 24.3× | n/a | n/a |
| Jinko Solar 688223.SS | China | $6.73B | -34% | -18% | -11% | n/a | n/a | n/a |
| Suzhou Maxwell Technologies 300751.SZ | China | $6.72B | -33% | -26% | 6% | 72.0× | 47.7% | +29.0% |
| Nexchip Semiconductor 688249.SS | China | $8.80B | -17% | +14% | 7% | 66.4× | n/a | n/a |
| Unigroup Guoxin Microelectronics 002049.SZ | China | $6.37B | -35% | -1% | 18% | 25.5× | 24.4% | +13.5% |