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Taiwanese maker of flexible printed circuit (FPC) materials and coverlay used in smartphone and electronics flex boards.
Taiwanese maker of flexible printed circuit (FPC) materials and coverlay used in smartphone and electronics flex boards.
Sells rolls of laminate and coverlay film to makers of flexible circuit boards, which in turn supply phone and electronics brands, so orders follow those boards' production. The materials are used up in every production run, so sales repeat with output.
In one line: A materials supplier feeding the flexible-circuit-board supply chain.
Moat: narrow (process know-how, customer qualification). Specialized flexible-circuit-materials process qualified into the smartphone supply chain.
Headquarters: Taiwan · Employees: 1,422
Size TAIFLEX Scientific (8039.TW) is a Taiwan Information Technology company (Electronic Equipment/Instruments) with a market value of $1.51B, the 199th largest of 687 Taiwan companies the cockpit tracks. Shares closed at NT$189.50 on 6 Nov 2026.
Performance Over six months the shares gained 36.3%, against -16.5% for the median peer and -3.4% for the Taiwan market (cap-weighted) — highest of 20 in its peer set.
Growth Revenue grew 2.5% over the last twelve months (peer median +5.8%); the operating margin is 5.8% (peer median 7.6%).
Valuation It trades at 4.7× enterprise value to sales against a peer median of 3.1× (10th most expensive of 21).
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 +4%, so the hurdle is +24 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 0.8 points below its cost of capital (6.0% WACC).
Next results Next results expected around 24 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | NT$10.4B | NT$10.6B | NT$9.94B | NT$8.15B | NT$8.72B |
| Revenue growth | — | +7% | +22% | -7% | — |
| Gross profit | NT$2.15B | NT$1.94B | NT$2.02B | NT$1.69B | NT$1.99B |
| EBITDA | NT$1.19B | NT$1.05B | NT$1.16B | NT$947M | NT$1.08B |
| Net income | NT$808M | NT$535M | NT$593M | NT$423M | NT$700M |
| Free cash flow | NT$1.24B | NT$109M | NT$736M | NT$259M | NT$225M |
| Capital expenditure | NT$686M | NT$596M | NT$701M | NT$1.02B | NT$981M |
| Total debt | NT$1.29B | NT$920M | NT$1.20B | NT$2.78B | NT$2.79B |
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 | EV / Sales | Req g |
|---|---|---|---|---|---|---|
| TAIFLEX Scientific 8039.TW | $1.51B | +36% | +3% | 6% | 4.7× | 28.3% |
| Eternal Materials 1717.TW | $2.06B | -27% | -2% | 5% | 2.0× | 19.9% |
| Sumitomo Chemical 4005.T | $4.93B | -7% | -2% | 5% | 0.8× | 1.1% |
| Arisawa Mfg.Co 5208.T | $437M | -24% | +18% | 10% | 1.2× | 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 | 8039.TW | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -37.6% | -5.3% | lowest of 21 |
| 6-month return | +36.3% | -16.5% | highest of 20 |
| Distance from 52-week high | -47.9% | -41.4% | 8th lowest of 21 |
| Revenue growth (TTM) | +2.5% | +5.8% | 9th lowest of 21 |
| Operating margin | 5.8% | 7.6% | 9th lowest of 21 |
| EV / Sales | 4.7× | 3.1× | 10th most expensive of 21 |
| Growth the price implies (Req g, 7 yrs) | 28.3% | 16.0% | 4th most demanding of 12 |
| Growth delivered (Del g) | +3.9% | +9.9% | lowest of 12 |
| Hurdle (Req g minus delivered) | +24.4 pp | -7.3 pp | 4th most demanding of 12 |
| ROIC minus cost of capital | -0.8 pp | -2.8 pp | 11th highest of 21 |
| EV / EBITDA | 40.5× | 10.7× | 2nd most expensive of 5 |
| Net debt / EBITDA | -1.6× | -1.0× | least indebted of 5 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| TAIFLEX Scientific 8039.TW | Taiwan | $1.51B | +36% | +3% | 6% | 4.7× | 28.3% | +3.9% |
| Hangzhou Kelin Electric 688611.SS | China | $1.51B | +4% | -58% | -32% | 58.7× | n/a | n/a |
| Glory 6457.T | Japan | $1.53B | +16% | -8% | 9% | 0.8× | -8.1% | +9.3% |
| Amano 6436.T | Japan | $1.50B | -4% | +1% | 11% | 1.1× | -7.6% | +9.2% |
| Zhejiang Dali Technology 002214.SZ | China | $1.45B | -15% | +1% | -68% | 28.5× | n/a | n/a |
| Kinco Automation Shanghai 688160.SS | China | $1.45B | -2% | +46% | 9% | 9.3× | n/a | n/a |
| Chongqing Chuanyi Automation 603100.SS | China | $1.44B | -4% | +3% | 7% | 1.2× | 2.6% | +9.9% |
| Gl Tech 300480.SZ | China | $1.44B | -28% | +43% | 13% | 9.9× | n/a | n/a |
| Shanghai Liangxin Electrical Co 002706.SZ | China | $1.42B | -26% | +6% | 3% | 1.8× | n/a | n/a |
| Hexing Electrical 603556.SS | China | $1.61B | -23% | +6% | 9% | 1.8× | 0.1% | +11.3% |
| Shenzhen VMAX New Energy (Group) 688612.SS | China | $1.63B | -21% | -6% | 9% | 1.6× | 18.8% | +57.4% |
| Zhejiang HangKe Technology 688006.SS | China | $1.64B | -43% | +12% | 3% | 2.6× | 16.0% | +14.9% |
| Guangdong High Dream Intellectualized Machinery 300720.SZ | China | $1.38B | -25% | +8% | 6% | 37.8× | n/a | n/a |
| Suzhou TZTEK Technology 688003.SS | China | $1.67B | -19% | +33% | 5% | 5.3× | 42.0% | +13.2% |
| Jiangsu Linyang Energy 601222.SS | China | $1.74B | -6% | +35% | 8% | 1.5× | n/a | n/a |
| Shandong Chunguang Technology 301531.SZ | China | $1.29B | n/a | +7% | 12% | 7.3× | 58.9% | +4.4% |
| Suzhou Hengmingda Electronic Technology 002947.SZ | China | $1.78B | -43% | +13% | 18% | 3.2× | 9.4% | +34.8% |
| Oxford Instruments OXIG.L | United Kingdom | $1.79B | -16% | -15% | 15% | 3.0× | 20.1% | +5.8% |
| Hanwei Electronics 300007.SZ | China | $1.79B | -15% | -3% | 2% | 5.5× | 40.9% | +4.6% |
| Beijing Aerospace Shenzhou Intelligent Equipment Technology 300455.SZ | China | $1.81B | -36% | -29% | -4% | 13.0× | n/a | n/a |
| Shenzhen Topband 002139.SZ | China | $1.81B | -8% | +9% | 3% | 1.2× | n/a | n/a |