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Size Taiwan Paiho (9938.TW) is a Taiwan Materials company (Industrial Specialties) with a market value of $314M, the 634th largest of 687 Taiwan companies the cockpit tracks. Shares closed at NT$34.90 on 6 Nov 2026.
Performance Over six months the shares fell 23.0%, against -15.8% for the median peer and -3.4% for the Taiwan market (cap-weighted) — 6th lowest of 20 in its peer set.
Growth Revenue fell 1.5% over the last twelve months (peer median +7.5%); the operating margin is 13.0% (peer median 5.2%).
Valuation It trades at 14.4× forward earnings against a peer median of 15.9× (2nd cheapest of 6).
Capital Return on invested capital runs 0.5 points above its cost of capital (5.0% WACC).
Next results Next results expected around 16 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | NT$15.8B | NT$15.8B | NT$15.5B | NT$12.4B | NT$16.3B |
| Revenue growth | — | +2% | +24% | -24% | — |
| Gross profit | NT$4.85B | NT$5.32B | NT$5.40B | NT$3.58B | NT$5.37B |
| EBITDA | NT$3.46B | NT$3.98B | NT$4.10B | NT$2.38B | NT$3.97B |
| Net income | NT$969M | NT$1.22B | NT$1.42B | NT$581M | NT$1.52B |
| Free cash flow | -NT$1.02B | NT$407M | NT$1.36B | -NT$370M | -NT$536M |
| Capital expenditure | NT$2.52B | NT$1.94B | NT$1.43B | NT$1.75B | NT$3.73B |
| Total debt | NT$13.4B | NT$12.3B | NT$11.7B | NT$13.0B | NT$12.2B |
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 | 9938.TW | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -7.9% | -10.2% | 9th highest of 21 |
| 6-month return | -23.0% | -15.8% | 6th lowest of 20 |
| Distance from 52-week high | -43.2% | -32.2% | 5th lowest of 21 |
| Revenue growth (TTM) | -1.5% | +7.5% | 5th lowest of 21 |
| Operating margin | 13.0% | 5.2% | 2nd highest of 21 |
| Forward P/E | 14.4× | 15.9× | 2nd cheapest of 6 |
| ROIC minus cost of capital | +0.5 pp | -2.2 pp | 7th highest of 21 |
| EV / EBITDA | 6.7× | 8.0× | 4th cheapest of 9 |
| Net debt / EBITDA | 2.6× | 1.5× | 5th most indebted of 11 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Taiwan Paiho 9938.TW | Taiwan | $314M | -23% | -2% | 13% | 14.4× | n/a | n/a |
| Dai Nippon Toryo 4611.T | Japan | $321M | +45% | +25% | 5% | n/a | n/a | n/a |
| Nippon Carbon 5302.T | Japan | $323M | -4% | +3% | 12% | 16.8× | 3.5% | +7.1% |
| Guangzhou Jointas Chemical Joint Stock 002909.SZ | China | $326M | -16% | -10% | -3% | n/a | n/a | n/a |
| Jiangsu Yabang Dyestuff 603188.SS | China | $350M | -22% | +13% | -9% | n/a | n/a | n/a |
| Jiangsu Jingxue Insulation Technology 301010.SZ | China | $354M | -1% | -28% | -1% | n/a | 33.3% | +2.2% |
| USI 1304.TW | Taiwan | $358M | -20% | -14% | -4% | n/a | n/a | n/a |
| Aspial A30.SI | Singapore | $269M | +31% | +23% | 10% | n/a | n/a | n/a |
| Uzin Utz UZU.DE | Germany | $369M | -4% | +9% | 8% | 13.9× | 0.4% | +5.7% |
| Chongqing Sanxia Paints 000565.SZ | China | $371M | -28% | +18% | -12% | n/a | n/a | n/a |
| Yung Chi Paint & Varnish Mfg 1726.TW | Taiwan | $371M | 0% | -1% | 12% | n/a | -13.1% | +4.1% |
| Montauk Renewables MNTK | United States | $387M | +86% | +4% | 2% | 21.9× | n/a | n/a |
| Focus Hotmelt 301283.SZ | China | $390M | -32% | +28% | 8% | 14.5× | n/a | n/a |
| Zhejiang Lanyu Digital Technology 301585.SZ | China | $390M | -18% | +22% | 13% | n/a | n/a | n/a |
| Aspen Aerogels ASPN | United States | $407M | -4% | -49% | -41% | n/a | 9.9% | +22.0% |
| Hunan Resun 001218.SZ | China | $408M | -27% | +37% | 5% | n/a | n/a | n/a |
| Hangzhou Toka Ink 688571.SS | China | $429M | -26% | +4% | 7% | n/a | n/a | n/a |
| Essentra ESNT.L | United Kingdom | $430M | +37% | +7% | 8% | 15.9× | 18.7% | -19.6% |
| Praise Victor Industrial 7768.TW | Taiwan | $434M | n/a | +3% | 16% | n/a | n/a | n/a |
| Sanlux 002224.SZ | China | $458M | -22% | +8% | -4% | n/a | n/a | n/a |
| Hubei Xiangyuan New Material Technology 300980.SZ | China | $461M | -52% | +15% | 5% | n/a | 21.6% | +13.8% |