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Employees: 401
Size Kuo Toong International (8936.TWO) is a Taiwan Utilities company (Water Utilities) with a market value of $303M, the 651st largest of 687 Taiwan companies the cockpit tracks. Shares closed at NT$40.40 on 6 Nov 2026.
Performance Over six months the shares fell 22.5%, against -16.4% for the median peer and -3.4% for the Taiwan market (cap-weighted) — 3rd lowest of 13 in its peer set.
Growth Revenue grew 27.3% over the last twelve months (peer median +5.2%); the operating margin is 21.0% (peer median 21.1%).
Valuation It trades at 8.6× forward earnings against a peer median of 16.9× (2nd cheapest of 8).
Price implies For today's price to make sense, revenue must grow about -8% a year for seven years (Req g). Recent delivered growth is +11%, so the hurdle is -19 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 5.1 points above its cost of capital (5.0% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | NT$6.86B | NT$6.31B | NT$5.25B | NT$4.13B | NT$3.79B |
| Revenue growth | — | +20% | +27% | +9% | — |
| Gross profit | NT$1.66B | NT$1.63B | NT$1.33B | NT$1.55B | NT$1.09B |
| EBITDA | NT$1.60B | NT$1.54B | NT$1.24B | NT$1.46B | NT$921M |
| Net income | NT$1.08B | NT$1.01B | NT$837M | NT$714M | NT$625M |
| Free cash flow | NT$330M | NT$168M | NT$10.5M | NT$819M | NT$365M |
| Capital expenditure | NT$99.7M | NT$297M | NT$173M | NT$120M | NT$43.7M |
| Total debt | NT$3.68B | NT$3.66B | NT$3.63B | NT$2.97B | NT$3.17B |
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.
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 | 8936.TWO | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -23.9% | -5.9% | lowest of 13 |
| 6-month return | -22.5% | -16.4% | 3rd lowest of 13 |
| Distance from 52-week high | -41.7% | -27.8% | 4th lowest of 13 |
| Revenue growth (TTM) | +27.3% | +5.2% | 2nd highest of 13 |
| Operating margin | 21.0% | 21.1% | 7th highest of 13 |
| Forward P/E | 8.6× | 16.9× | 2nd cheapest of 8 |
| Growth the price implies (Req g, 7 yrs) | -8.1% | -0.5% | least demanding of 6 |
| Growth delivered (Del g) | +11.2% | +8.9% | 3rd highest of 6 |
| Hurdle (Req g minus delivered) | -19.3 pp | -8.2 pp | least demanding of 6 |
| ROIC minus cost of capital | +5.1 pp | +0.8 pp | highest of 12 |
| EV / EBITDA | 8.3× | 13.3× | cheapest of 6 |
| Net debt / EBITDA | 0.9× | 4.2× | 2nd least indebted of 6 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Kuo Toong International 8936.TWO | Taiwan | $303M | -22% | +27% | 21% | 8.6× | -8.1% | +11.2% |
| Artesian Resources ARTNA | United States | $357M | +7% | +6% | 32% | 14.8× | n/a | n/a |
| Consolidated Water CWCO | United States | $436M | -17% | -1% | 12% | 19.4× | 4.5% | +12.7% |
| Jiangsu United Water Technology 603291.SS | China | $476M | -35% | -13% | 11% | 16.0× | -0.5% | +6.9% |
| York Water YORW | United States | $529M | +10% | +9% | 37% | 20.1× | n/a | n/a |
| Haitian Water 603759.SS | China | $535M | -17% | +112% | 5% | n/a | n/a | n/a |
| Guangxi Nanning Waterworks 601368.SS | China | $601M | -9% | 0% | 22% | n/a | n/a | n/a |
| Qianjiang Water Resources Development 600283.SS | China | $627M | -19% | +7% | 11% | 16.9× | n/a | n/a |
| Wuhan Xianglong Power Industry 600769.SS | China | $687M | -24% | +4% | 20% | n/a | n/a | n/a |
| Jiangsu Jiangnan Water 601199.SS | China | $763M | +2% | -4% | 12% | n/a | -1.5% | +8.9% |
| China Water Affairs 0855.HK | Hong Kong | $823M | -22% | -11% | 25% | 5.8× | -0.6% | 0.0% |
| Guangdong Shunkong Development 003039.SZ | China | $1.12B | -16% | +6% | 25% | n/a | 4.3% | +12.5% |
| Middlesex Water MSEX | United States | $1.15B | +16% | +9% | 31% | 21.7× | n/a | n/a |