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2002 · TWSE · Taiwan · Materials
In shortCSC (中鋼) is loss-making, generates cash and carries moderate debt, with revenue shrinking (−12.0% last year).
Financial health
Weak
Built from five areas over the last five annual reports. Tap an area to see the figures behind it.
| Operating marginShare of each sale left after running the business, before interest and tax. | -1.2% | 13/100 |
|---|---|---|
| Net marginShare of each sale left as profit after every cost, interest and tax. | -1.4% | 15/100 |
| Return on equityProfit earned on the money shareholders put in. Above 15% is strong. | -1.5% | 0/100 |
| Return on invested capitalProfit earned on all the capital used (equity and debt). Above 10% usually means a real competitive edge. | -0.5% | 0/100 |
Weight in the score: 25%
| Current ratioShort-term assets divided by short-term debts. Below 1 can mean tight cash. | 1.38× | 48/100 |
|---|---|---|
| Debt / equityDebt compared with the shareholders' stake. Above 2 is heavily indebted. | 0.82× | 66/100 |
| Net debt / EBITDAYears of operating profit needed to repay net debt. Below 2 is comfortable. | 7.65× | 0/100 |
| Interest coverageHow many times operating profit covers interest. Below 2 is risky. | -0.77× | 0/100 |
| Altman Z''Bankruptcy-risk model. Above 2.6 safe, below 1.1 distress. | 1.86 | 19/100 |
Weight in the score: 25%
| Free cash flow marginCash left from each sale after investments. The money that can pay dividends or reduce debt. | 5.4% | 42/100 |
|---|---|---|
| Free cash flow / net incomeHow much accounting profit turns into real cash. Near 1 or above is healthy. | – | n/a |
| Years with positive free cash flow (last 5) | 3 of 5 | 50/100 |
Weight in the score: 20%
| Profitable years (last 5) | 4 of 5 | 80/100 |
|---|---|---|
| Years of revenue decline (last 5) | 4 of 5 | 0/100 |
| Revenue growth volatility | 26.8% | 12/100 |
| Operating margin volatility | 7.4% | 42/100 |
Weight in the score: 20%
| Revenue growth, 3-year average | -11.0% | 0/100 |
|---|---|---|
| EPS growth, 3-year average | – | n/a |
Weight in the score: 10%
Fiscal year 2025 · change vs prior year
Annual figures as reported. Hover a bar or point for the exact value.
1 older year available with the 10-year history. Essential plan, from €8.25/month →
The last 5 fiscal years from the company's annual reports.
TWD millions; negative values in parentheses.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | 468,328 | 449,567 | 363,326 | 360,536 | 317,155 |
| Cost of revenue | 373,013 | 417,665 | 346,554 | 345,475 | 308,130 |
| Gross profit | 95,315 | 31,902 | 16,773 | 15,061 | 9,025 |
| Research & development | 2,435 | 2,155 | 2,132 | 2,267 | 2,173 |
| Operating income | 79,757 | 18,265 | 3,586 | 1,792 | (3,904) |
| Interest expense | 1,761 | 2,493 | 3,624 | 4,046 | 5,054 |
| Pre-tax income | 84,414 | 23,259 | 4,590 | 4,578 | (4,685) |
| Income tax | 15,508 | 5,264 | 1,059 | 702 | (1,178) |
| Net income | 62,053 | 17,784 | 1,682 | 1,978 | (4,349) |
| Diluted EPS | TWD3.98 | TWD1.15 | TWD0.11 | TWD0.13 | −TWD0.29 |
1 older year available with the 10-year history. Essential plan, from €8.25/month →
1.86 Grey zone
Estimates bankruptcy risk from working capital, retained earnings, operating profit and equity. Above 2.6 is considered safe, below 1.1 signals distress.
3/9
Nine yes-or-no tests on profitability, debt, liquidity and efficiency versus the prior year. 7 to 9 is strong, 0 to 3 is weak.
All figures: MOPS (mops.twse.com.tw). Ratios and scores are computed by Scorvest (see how it works). Information only, not investment advice. How it works
Latest annual report: Dec 31, 2025 · Data updated –