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Taiwanese maker of IC test handlers and thermal control systems used in semiconductor final test.
Taiwanese maker of IC test handlers and thermal control systems used in semiconductor final test.
Sells machines that load chips into test sockets and hold their temperature during final testing, paid per machine, so orders follow the capacity plans of packaging and test houses and swing with chip-test equipment spending. Active temperature control, which keeps hot AI processors within range during test, is the newer part of the business.
In one line: A small Taiwan Cohu (test handlers).
Moat: narrow (IP / patents, process know-how). 600+ patents in thermal control and high-speed parallel testing; equipment must be qualified per test program.
Headquarters: Taichung, Taiwan · Founded: 1999 · Employees: 746
Size Hon Precision (7769.TW) is a Taiwan Information Technology company (Electronic Equipment/Instruments) with a market value of $20.0B, the 29th largest of 687 Taiwan companies the cockpit tracks. Shares closed at NT$3,675 on 6 Nov 2026.
Performance Over six months the shares fell 34.4%, against -22.5% for the median peer and -3.4% for the Taiwan market (cap-weighted) — 5th lowest of 19 in its peer set.
Growth Revenue grew 257.3% over the last twelve months (peer median +15.5%); the operating margin is 48.4% (peer median 20.7%).
Valuation It trades at 21.3× forward earnings against a peer median of 25.0× (6th cheapest of 20).
Price implies For today's price to make sense, revenue must grow about 28% a year for seven years (Req g). Recent delivered growth is +31%, so the hurdle is -3 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 16.8 points above its cost of capital (13.8% WACC).
Next results Next results expected around 22 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | NT$50.0B | NT$30.3B | NT$14.0B | NT$9.49B | NT$13.5B |
| Revenue growth | — | +116% | +47% | -30% | — |
| Gross profit | NT$27.9B | NT$17.1B | NT$7.68B | NT$4.65B | NT$6.22B |
| EBITDA | n/a | NT$15.1B | NT$6.33B | NT$3.80B | NT$5.04B |
| Net income | NT$20.5B | NT$12.4B | NT$5.29B | NT$3.07B | NT$4.36B |
| Free cash flow | n/a | NT$15.9B | NT$2.30B | NT$5.04B | NT$3.11B |
| Capital expenditure | n/a | NT$650M | NT$144M | NT$232M | NT$427M |
| Total debt | n/a | NT$57.4M | NT$168M | NT$7.06M | NT$12.7M |
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 |
|---|---|---|---|---|---|---|
| Hon Precision 7769.TW | $20.0B | -34% | +257% | 48% | 21.3× | 28.2% |
| Cohu COHU | $1.82B | -22% | +34% | -2% | 19.3× | 21.5% |
| Advantest 6857.T | $124B | -1% | +48% | 50% | 27.5× | 36.4% |
| Chroma Ate 2360.TW | $15.4B | -46% | +101% | 39% | 18.5× | 19.3% |
| MPI 6223.TWO | $10.2B | -31% | +38% | 30% | 37.2× | 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 | 7769.TW | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -36.8% | -9.9% | 3rd lowest of 20 |
| 6-month return | -34.4% | -22.5% | 5th lowest of 19 |
| Distance from 52-week high | -56.6% | -34.4% | lowest of 20 |
| Revenue growth (TTM) | +257.3% | +15.5% | highest of 19 |
| Operating margin | 48.4% | 20.7% | highest of 19 |
| Forward P/E | 21.3× | 25.0× | 6th cheapest of 20 |
| Growth the price implies (Req g, 7 yrs) | 28.2% | 21.7% | 6th most demanding of 16 |
| Growth delivered (Del g) | +31.0% | +10.7% | 2nd highest of 16 |
| Hurdle (Req g minus delivered) | -2.8 pp | +6.4 pp | 4th least demanding of 16 |
| ROIC minus cost of capital | +16.8 pp | +2.5 pp | 3rd highest of 19 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Hon Precision 7769.TW | Taiwan | $20.0B | -34% | +257% | 48% | 21.3× | 28.2% | +31.0% |
| Lasertec 6920.T | Japan | $18.2B | -25% | -19% | 44% | 28.7× | 28.9% | +26.8% |
| Hangzhou Changchuan Technology 300604.SZ | China | $17.3B | +4% | +53% | 27% | 46.1× | 43.8% | +45.8% |
| Semight Instruments 688808.SS | China | $17.0B | n/a | n/a | n/a | 51.5× | n/a | n/a |
| Halma HLMA.L | United Kingdom | $17.0B | -25% | +15% | 20% | 25.0× | 21.7% | +14.4% |
| Qnity Electronics Q | United States | $24.5B | -21% | +18% | 23% | 20.2× | 22.1% | 0.0% |
| BOE Technology 000725.SZ | China | $25.3B | +9% | -4% | 2% | 21.4× | -3.9% | +8.6% |
| Chroma Ate 2360.TW | Taiwan | $15.4B | -46% | +101% | 39% | 18.5× | 19.3% | +12.8% |
| AVIC Chengdu Aircraft 302132.SZ | China | $28.0B | +4% | +3% | 5% | 49.6× | n/a | n/a |
| Skyverse Technology 688361.SS | China | $13.8B | +33% | +39% | -12% | 563.2× | n/a | n/a |
| Hexagon HEXA-B.ST | Sweden | $29.4B | +14% | -20% | -14% | 30.0× | 9.1% | +8.7% |
| Sieyuan Electric 002028.SZ | China | $13.4B | -42% | +35% | 16% | 23.1× | 11.1% | +23.9% |
| Legrand LR.PA | France | $38.0B | -16% | +10% | 21% | 22.0× | 15.6% | +9.2% |
| NVMI NVMI | United States | $9.96B | -40% | +16% | 29% | 25.0× | 32.8% | +26.7% |
| Keysight Technologies KEYS | United States | $46.3B | -24% | +26% | 24% | 20.3× | 20.9% | +5.0% |
| ONTO ONTO | United States | $8.50B | -39% | +8% | 20% | 16.9× | 29.4% | +12.6% |
| Cognex CGNX | United States | $8.04B | -27% | +17% | 22% | 24.8× | 25.6% | +4.2% |
| China Railway Signal & Communication 688009.SS | China | $7.39B | 0% | +1% | 12% | 14.9× | -6.3% | -2.9% |
| Wuhan Guide Infrared 002414.SZ | China | $6.46B | -32% | +89% | 29% | 37.4× | n/a | n/a |
| Novanta NOVT | United States | $5.11B | -2% | +8% | 12% | 33.9× | 33.5% | +10.7% |