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Taiwan medical-device developer building accelerator-based Boron Neutron Capture Therapy (BNCT) systems for cancer treatment.
Taiwan medical-device developer building accelerator-based Boron Neutron Capture Therapy (BNCT) systems for cancer treatment.
Sells treatment systems built around a particle accelerator, so each sale is a single large project that can take years from order to hospital installation, with ongoing service after that. Its income waits on regulatory approvals and installations.
Moat: narrow (IP / patents, regulatory licence). BNCT requires specialized accelerator technology and regulatory clearance, limiting competitors.
Headquarters: Hsinchu, Taiwan · Employees: 111
Size Heron Neutron Medical (7799.TW) is a Taiwan Industrials company (Miscellaneous Commercial Services) with a market value of $1.94B, the 172nd largest of 687 Taiwan companies the cockpit tracks. Shares closed at NT$406.00 on 6 Nov 2026.
Performance Over six months the shares gained 15.2%, against -5.2% for the median peer and -3.4% for the Taiwan market (cap-weighted) — 4th highest of 21 in its peer set.
Growth The operating margin is -5,070.7% (peer median 17.8%).
Valuation It trades at 5.75× book value against a peer median of 3.81× (7th most expensive of 21).
Price implies The share price implies a return on equity of about 20.4%; Heron Neutron Medical delivers -7.7%, so the price asks more than the business earns today.
Next results Next results expected around 1 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | NT$11.7M | NT$10.3M | NT$0 | NT$238,000 | NT$0 |
| Revenue growth | — | — | -100% | — | — |
| Gross profit | -NT$59.2M | -NT$63.1M | -NT$24.2M | -NT$15.3M | -NT$14.0M |
| EBITDA | -NT$548M | -NT$495M | -NT$238M | -NT$114M | -NT$73.8M |
| Net income | -NT$479M | -NT$482M | -NT$260M | -NT$126M | -NT$86.2M |
| Free cash flow | -NT$718M | -NT$512M | -NT$309M | -NT$260M | -NT$355M |
| Capital expenditure | NT$386M | NT$30.1M | NT$49.0M | NT$56.2M | NT$114M |
| Total debt | NT$236M | NT$7.23M | NT$9.51M | NT$13.4M | NT$17.3M |
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 |
|---|---|---|---|---|---|---|
| Heron Neutron Medical 7799.TW | $1.94B | +15% | n/a | -8% | 5.75× | 20.4% |
| Sumitomo Heavy Industries 6302.T | $3.64B | -10% | +9% | 6% | 0.81× | 10.4% |
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 | 7799.TW | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -24.4% | +4.2% | 3rd lowest of 21 |
| 6-month return | +15.2% | -5.2% | 4th highest of 21 |
| Return on equity | -7.7% | 11.8% | lowest of 20 |
| Price / book | 5.75× | 3.81× | 7th most expensive of 21 |
| ROE the price implies | 20.4% | 22.6% | 10th least demanding of 21 |
| ROE delivered | -7.7% | 11.5% | lowest of 19 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| Heron Neutron Medical 7799.TW | Taiwan | $1.94B | +15% | n/a | -8% | 5.75× | 20.4% | -7.7% |
| Anhui XDLK Microsystem 688582.SS | China | $1.95B | -36% | -38% | 4% | 5.12× | 55.1% | 4.0% |
| Xi'an Taijin New Energy & Materials Sci-Tech 688813.SS | China | $1.93B | -13% | n/a | n/a | 7.12× | 126.4% | n/a |
| Jiangsu Guotai International 002091.SZ | China | $1.91B | -11% | +7% | 7% | 0.79× | 6.2% | 6.9% |
| Insperity NSP | United States | $1.90B | +53% | +2% | 5% | 41.78× | 185.6% | 4.6% |
| International Gemological Institute IGIL.NS | India | $1.86B | +12% | +21% | 45% | 10.05× | 94.3% | n/a |
| Focus Technology 002315.SZ | China | $1.86B | -1% | +14% | 19% | 4.38× | 23.4% | 18.9% |
| Teemsun Technology 301571.SZ | China | $1.86B | 0% | +61% | 13% | 5.48× | 21.9% | 13.5% |
| Beijing Orient EcoEnergy 002310.SZ | China | $1.81B | -24% | +35% | -3% | 5.75× | 14.1% | -3.2% |
| Hoist Finance HOFI.ST | Sweden | $1.79B | +29% | +16% | 23% | 2.57× | 17.9% | 22.8% |
| China Conch Venture 0586.HK | Hong Kong | $1.79B | -36% | +21% | 4% | 0.24× | 4.6% | 3.6% |
| Prosegur Compania de Seguridad PSG.MC | Spain | $1.79B | +9% | +1% | 17% | 2.02× | 16.2% | 16.5% |
| Syngene International SYNGENE.NS | India | $1.78B | -11% | -6% | 4% | 3.46× | 45.9% | 3.9% |
| Choice International CHOICEIN.NS | India | $1.76B | +8% | +34% | 16% | 9.23× | 99.3% | 16.4% |
| Sagility SAGILITY.NS | India | $2.15B | +2% | +28% | 11% | 1.99× | 17.7% | 10.7% |
| Firstsource Solutions FSL.NS | India | $2.16B | +25% | +20% | 16% | 4.16× | 49.6% | 15.7% |
| Ipsos IPS.PA | France | $1.74B | -3% | +3% | 12% | 0.98× | 8.2% | 11.8% |
| China Automotive Engineering Research Institute 601965.SS | China | $2.18B | -8% | +12% | 14% | 1.78× | 9.3% | 13.7% |
| GRG Metrology & Test 002967.SZ | China | $1.72B | -16% | +13% | 11% | 2.19× | 17.3% | 11.2% |
| Visual China 000681.SZ | China | $1.71B | -25% | -9% | 2% | 3.16× | 32.7% | 2.2% |
| Biocytogen Pharmaceuticals (Beijing) 688796.SS | China | $2.22B | -19% | +40% | 22% | 14.36× | 153.4% | 21.8% |