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Taiwan maker of molybdenum wafers/targets and provider of IC/LED back-end packaging, probing and testing services.
Taiwan maker of molybdenum wafers/targets and provider of IC/LED back-end packaging, probing and testing services.
In one line: A niche materials-plus-back-end-services company with no close US-listed peer.
Moat: narrow (process know-how). Niche molybdenum-materials expertise combined with back-end IC/LED processing, in fragmented commodity segments.
Headquarters: Douliu, Taiwan · Founded: 1980
Size Formosa Advanced Technologies (8131.TW) is a Taiwan Information Technology company (Semiconductors) with a market value of $655M, the 357th largest of 687 Taiwan companies the cockpit tracks. Shares closed at NT$49.00 on 6 Nov 2026.
Performance Over six months the shares fell 29.0%, against -24.0% for the median peer and -3.4% for the Taiwan market (cap-weighted) — 7th lowest of 21 in its peer set.
Growth Revenue grew 37.2% over the last twelve months (peer median +13.2%); the operating margin is 16.2% (peer median 2.6%).
Valuation It trades at 10.7× forward earnings against a peer median of 18.7× (cheapest of 11).
Capital Return on invested capital runs 5.6 points above its cost of capital (5.9% WACC).
Next results Next results expected around 19 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | NT$12.5B | NT$9.92B | NT$8.93B | NT$7.65B | NT$10.4B |
| Revenue growth | — | +11% | +17% | -27% | — |
| Gross profit | NT$2.46B | NT$1.03B | NT$1.07B | NT$541M | NT$2.13B |
| EBITDA | NT$2.60B | NT$1.38B | NT$1.72B | NT$1.55B | NT$3.26B |
| Net income | NT$1.80B | NT$603M | NT$900M | NT$530M | NT$2.06B |
| Free cash flow | -NT$2.56B | -NT$459M | NT$1.15B | NT$1.14B | NT$2.74B |
| Capital expenditure | NT$3.59B | NT$917M | NT$658M | NT$717M | NT$640M |
| Total debt | NT$512M | NT$436M | NT$480M | NT$523M | NT$559M |
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 |
|---|---|---|---|---|---|---|
| Formosa Advanced Technologies 8131.TW | $655M | -29% | +37% | 16% | 10.7× | n/a |
| Ase Technology 3711.TW | $70.4B | +2% | +25% | 11% | 17.3× | n/a |
| ChipMOS Technologies 8150.TW | $1.49B | -17% | +19% | 8% | 12.2× | 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 | 8131.TW | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -22.8% | -17.5% | 9th lowest of 21 |
| 6-month return | -29.0% | -24.0% | 7th lowest of 21 |
| Distance from 52-week high | -43.7% | -47.5% | 10th highest of 21 |
| Revenue growth (TTM) | +37.2% | +13.2% | 6th highest of 21 |
| Operating margin | 16.2% | 2.6% | 5th highest of 21 |
| Forward P/E | 10.7× | 18.7× | cheapest of 11 |
| ROIC minus cost of capital | +5.6 pp | -6.5 pp | 3rd highest of 21 |
| EV / EBITDA | 7.1× | 23.8× | cheapest of 9 |
| Net debt / EBITDA | -1.2× | -2.9× | 4th most indebted of 9 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Formosa Advanced Technologies 8131.TW | Taiwan | $655M | -29% | +37% | 16% | 10.7× | n/a | n/a |
| Silicon Integrated Systems 2363.TW | Taiwan | $649M | -25% | +78% | 2% | n/a | 28.1% | +77.5% |
| Shanghai Orient-Chip Technology 688061.SS | China | $664M | +14% | +4% | -9% | 95.5× | n/a | n/a |
| PVA TePla TPE.DE | Germany | $666M | -37% | -4% | 1% | 62.0× | n/a | n/a |
| Shenzhen Refond Optoelectronics 300241.SZ | China | $668M | -22% | +24% | 4% | n/a | 16.7% | +8.4% |
| Orient Semiconductor Electronics 2329.TW | Taiwan | $670M | -46% | +11% | 7% | 12.4× | n/a | n/a |
| Sanken Electric 6707.T | Japan | $673M | -43% | -19% | -8% | n/a | n/a | n/a |
| Hongli Zhihui 300219.SZ | China | $638M | -22% | +10% | 3% | n/a | 8.3% | +6.9% |
| Macmic Science & Technology 688711.SS | China | $635M | -27% | +16% | -3% | 98.1× | 49.0% | +32.4% |
| Foshan Blue Rocket Electronics 301348.SZ | China | $681M | -24% | +22% | -2% | n/a | n/a | n/a |
| Talant Optronics (suzhou) 301045.SZ | China | $683M | -15% | -10% | 3% | 98.3× | n/a | n/a |
| UniTTEC 000925.SZ | China | $688M | -24% | +18% | 3% | 17.1× | n/a | n/a |
| KoMiCo 183300.KS | South Korea | $621M | +14% | +22% | 15% | 15.6× | n/a | n/a |
| ITE Tech 3014.TW | Taiwan | $620M | -6% | -4% | 27% | 11.9× | -8.4% | +7.6% |
| Tyntek 2426.TW | Taiwan | $619M | -2% | -6% | 1% | n/a | n/a | n/a |
| RFHIC 218410.KS | South Korea | $697M | -61% | +46% | 19% | 20.3× | 16.1% | +21.4% |
| Shenzhen Sunmoon Microelectronics 688699.SS | China | $698M | -24% | +50% | 9% | n/a | 30.7% | +4.9% |
| Xi'an Peri Power Semiconductor Converting Technology 300831.SZ | China | $613M | -34% | +107% | 34% | n/a | n/a | n/a |
| Xiamen Guangpu Electronics 300632.SZ | China | $612M | -44% | -1% | -13% | n/a | 37.5% | -3.6% |
| Global Mixed-Mode Technology 8081.TW | Taiwan | $612M | -11% | -1% | 17% | 11.7× | -2.8% | +3.2% |
| Lingda 300125.SZ | China | $702M | -26% | +54% | -102% | n/a | n/a | n/a |