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← CockpitCompetitor Analysis › 8932.TWO Wiselink Co Ltd.Open in the cockpit ↗

Wiselink Co Ltd.8932.TWOCompetitor analysis, valuation and peers

Taiwan · TWD·Consumer Discretionary›Other Consumer Specialties

Taiwan zipper manufacturer (formerly Max Zipper) making nylon, plastic and metal zippers for apparel and bags.

Momentum weak 35
Competitor Analysis ▸ ChartsOpen in the cockpit
Mkt cap
$941M
US dollars, full cap
Free float
77%
of shares outstanding
$/day
$4.54M
20-day average traded
Fwd P/E
n/m
no positive forecast
ROIC−WACC
+76.0 pp
WACC 6.6%
Hurdle
-13 pp
Req g minus delivered
Next earnings
11 days
17 Nov 2026
Close · TWDNT$73.00
1D-7.1%
1W-17.7%
1M-20.1%
3M-15.7%
6M-19.1%
YTD-12.8%
1Y-28.9%
ATR %5.8%
52w lowhigh43.9% off high

What Wiselink does

Taiwan zipper manufacturer (formerly Max Zipper) making nylon, plastic and metal zippers for apparel and bags.

Sells zippers to garment, bag and sports-goods makers in large volume at prices that follow nylon, polyester and metal costs plus labour, so competition among zipper makers keeps margins thin. Designs and finishes help it win a place on brands' approved-supplier lists.

Products and services

  • Nylon zippers
  • Plastic/metal zippers
  • Sliders & zipper accessories

Customers

  • Garment manufacturers
  • Bag/luggage makers
  • Sporting goods makers

Where it sits in the supply chain

  • Apparel/textile supply chain
  • Fasteners & trims
  • Zippers

What could go right

  • Apparel and luggage production growth

What could go wrong

  • Commodity pricing pressure
  • Customer concentration in low-cost markets

Moat: none (scale, distribution). Zippers are a commoditized component; competes mainly on manufacturing scale and export distribution.

Headquarters: Taipei, Taiwan · Founded: 1978 · Employees: 428

Named competitors

  • YKK Corporation private or unlisted
  • Ideal Fastener Holdings private or unlisted

Wiselink at a glance

Size Wiselink (8932.TWO) is a Taiwan Consumer Discretionary company (Other Consumer Specialties) with a market value of $941M, the 276th largest of 687 Taiwan companies the cockpit tracks. Shares closed at NT$73.00 on 6 Nov 2026.

Performance Over six months the shares fell 19.1%, against +3.4% for the median peer and -3.4% for the Taiwan market (cap-weighted) — 6th lowest of 20 in its peer set.

Growth Revenue grew 23.8% over the last twelve months (peer median +19.0%); the operating margin is 46.6% (peer median 10.5%).

Valuation It trades at 12.3× enterprise value to sales against a peer median of 1.9× (most expensive of 20).

Price implies For today's price to make sense, revenue must grow about 10% a year for seven years (Req g). Recent delivered growth is +23%, so the hurdle is -13 pp: the price already allows for a slowdown.

Capital Return on invested capital runs 76.0 points above its cost of capital (6.6% WACC).

Next results Next results expected around 17 Nov 2026 (exchange calendar; dates can move).

Relative performance

8010012014011 May 202611 Aug 20266 Nov 2026Peer median 1058932.TWO 82
Six months, rebased to 100: Wiselink against the median of its 20 peers (local-currency closes).

Wiselink financials

Reported figures in TWD; fiscal year ends 2025-12-31. TTM = trailing twelve months.
TTMFY2025FY2024FY2023FY2022
RevenueNT$2.41BNT$2.27BNT$1.49BNT$961MNT$799M
Revenue growth—+52%+56%+20%—
Gross profitNT$1.47BNT$1.39BNT$812MNT$350MNT$121M
EBITDANT$1.20BNT$1.14BNT$581MNT$229MNT$27.4M
Net incomeNT$754MNT$658MNT$319MNT$88.2M-NT$29.0M
Free cash flowNT$1.04BNT$696MNT$499M-NT$184MNT$81.2M
Capital expenditureNT$36.9MNT$115MNT$218MNT$293MNT$18.4M
Total debtNT$715MNT$568MNT$570MNT$546MNT$648M

Quarterly statements and history in the cockpit →

Wiselink competitor charts

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.

Performance: 6-month against 1-month return

-50%0%+50%+100%-20%0%+20%+40%0027210023457976TIMEX3011772585THANGAMAYL6168SISSKYGOLDPCJEWELLERKDDLGOLDIAMMOVFOSL8932.TWO6-month return →1-month return →
Up and to the right = strong over both horizons. Wiselink is the large dot.

Fundamentals: revenue growth against valuation

0%+25%+50%+75%0×5×10×0027210023457976TIMEX301177SAFARI2585THANGAMAYL6168SKYGOLDSENCOPCJEWELLERKDDLGOLDIAM600916FOSL8932.TWORevenue growth (TTM) →EV / Sales →
Further right = faster growth; higher = more expensive. The dashed lines are the peer medians. Wiselink is the large dot.

Capital: growth delivered against growth the price implies

-20%0%+20%+40%-25%0%25%002721002345TIMEXSAFARITHANGAMAYLSISKDDLGOLDIAMMOV600916FPE8932.TWOGrowth delivered (Del g) →Growth the price implies (Req g, 7 yrs) →
Above the diagonal = the price needs more growth than the company has been delivering; below = the price already allows for a slowdown. Wiselink is the large dot.

Wiselink competitors and peer comparison

How Wiselink compares with its peers

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.

Wiselink against its 20 peers (data as of 6 Nov 2026)
Measure8932.TWOPeer medianRank in peer set
1-month return-20.1%-0.1%lowest of 21
6-month return-19.1%+3.4%6th lowest of 20
Distance from 52-week high-43.9%-22.2%7th lowest of 21
Revenue growth (TTM)+23.8%+19.0%10th highest of 21
Operating margin46.6%10.5%highest of 21
EV / Sales12.3×1.9×most expensive of 20
Growth the price implies (Req g, 7 yrs)10.0%25.7%5th least demanding of 12
Growth delivered (Del g)+23.2%+23.9%6th lowest of 12
Hurdle (Req g minus delivered)-13.2 pp-11.5 pp4th least demanding of 12
ROIC minus cost of capital+76.0 pp+2.0 pphighest of 20
EV / EBITDA24.8×16.1×4th most expensive of 15
Net debt / EBITDA-1.2×-0.1×4th least indebted of 18

Peer table

Peer set: Industry: the same industry and sector in any market, nearest in size
CompanyMarketMarket cap6M returnRevenue growthOp. marginEV / SalesReq gDelivered g
Wiselink 8932.TWOTaiwan$941M-19%+24%47%12.3×10.0%+23.2%
Beijing Kingee Culture Development 002721.SZChina$965M-21%+45%15%6.6×26.5%-25.9%
Guangdong CHJ Industry 002345.SZChina$1.11B-19%+14%13%0.8×-11.5%+23.9%
Mitsubishi Pencil 7976.TJapan$1.16B+52%+6%13%1.7×n/an/a
Timex Group India TIMEX.NSIndia$750M+90%+42%15%8.3×25.7%+41.7%
Gens Aurea OROX.MIItaly$1.27Bn/a+95%11%n/an/an/a
DR Corporation Limited Class A 301177.SZChina$1.29B-26%-4%-6%3.4×n/an/a
Safari Industries (India) SAFARI.NSIndia$651M-18%+14%9%2.9×31.3%+44.2%
Mokingran Jewellery 2585.HKHong Kong$1.37B+118%+5%4%0.6×n/an/a
Thangamayil Jewellery THANGAMAYL.NSIndia$1.37B+1%+78%6%1.4×28.5%+36.1%
Zhou Liu Fu Jewellery 6168.HKHong Kong$632M-42%+2%19%0.9×n/an/a
Savaria SIS.TOCanada$1.53B+3%+7%14%2.4×9.3%+20.8%
Sky Gold and Diamonds SKYGOLD.NSIndia$1.56B+92%+73%7%1.9×n/an/a
Senco Gold SENCO.NSIndia$556M-7%+42%9%0.5×n/an/a
PC Jeweller PCJEWELLER.NSIndia$1.63B+67%+29%24%4.2×n/an/a
KDDL KDDL.NSIndia$518M+64%+32%9%2.1×33.2%+31.5%
Goldiam International GOLDIAM.NSIndia$505M+1%+27%20%4.4×35.6%+19.2%
Movado MOVUnited States$495M+11%+5%7%0.5×-7.2%+5.5%
China National Gold Group Gold Jewellery 600916.SSChina$1.80B-20%-9%0%0.1×24.2%+15.6%
Fossil FOSLUnited States$462M+76%-9%2%0.7×n/an/a
FOPE FPE.MIItaly$434M+69%+24%20%3.5×0.1%+29.2%

Questions

Who are Wiselink's main competitors?
Named competitors: YKK Corporation (private or unlisted), Ideal Fastener Holdings (private or unlisted). The cockpit's measured peer set (industry) also includes Beijing Kingee Culture Development (002721.SZ), Guangdong CHJ Industry (002345.SZ), Mitsubishi Pencil (7976.T), Timex Group India (TIMEX.NS), Gens Aurea (OROX.MI), DR Corporation Limited Class A (301177.SZ).
Is Wiselink expensive compared with its peers?
On ev / sales it trades at 12.3× against a peer median of 1.9×, most expensive of 20 in its peer set. For today's price to make sense, revenue must grow about 10% a year for seven years (Req g). Recent delivered growth is +23%, so the hurdle is -13 pp: the price already allows for a slowdown.
How has Wiselink stock performed?
Over six months to 6 Nov 2026 the shares returned -19.1% against +3.4% for the median peer; over one year -28.9%.

How these numbers are made. Returns are close-to-close in local currency. Revenue growth and margins are trailing twelve months. Req g is the revenue growth that today's enterprise value requires for seven years at the company's own cost of capital; Delivered g is what it actually grew; the gap is the hurdle (honest precision about ±8 points, so read the ranking more than the decimal). No fair values, price targets or analyst ratings are shown, by design. Method and validation.