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2603 · TWSE · Taiwan · Industrials
In shortEMC (長榮) is profitable, generates cash and holds more cash than debt, with revenue shrinking (−18.2% last year).
Financial health
Solid
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. | 19.6% | 82/100 |
|---|---|---|
| Net marginShare of each sale left as profit after every cost, interest and tax. | 18.1% | 92/100 |
| Return on equityProfit earned on the money shareholders put in. Above 15% is strong. | 12.0% | 60/100 |
| Return on invested capitalProfit earned on all the capital used (equity and debt). Above 10% usually means a real competitive edge. | 10.2% | 68/100 |
Weight in the score: 25%
| Current ratioShort-term assets divided by short-term debts. Below 1 can mean tight cash. | 1.60× | 66/100 |
|---|---|---|
| Debt / equityDebt compared with the shareholders' stake. Above 2 is heavily indebted. | 0.10× | 100/100 |
| Net debt / EBITDAYears of operating profit needed to repay net debt. Below 2 is comfortable. | Net cash | 100/100 |
| Interest coverageHow many times operating profit covers interest. Below 2 is risky. | 14.89× | 100/100 |
| Altman Z''Bankruptcy-risk model. Above 2.6 safe, below 1.1 distress. | 4.95 | 99/100 |
Weight in the score: 25%
| Free cash flow marginCash left from each sale after investments. The money that can pay dividends or reduce debt. | 20.9% | 100/100 |
|---|---|---|
| Free cash flow / net incomeHow much accounting profit turns into real cash. Near 1 or above is healthy. | 1.16× | 100/100 |
| Years with positive free cash flow (last 5) | 4 of 5 | 75/100 |
Weight in the score: 20%
| Profitable years (last 5) | 5 of 5 | 100/100 |
|---|---|---|
| Years of revenue decline (last 5) | 2 of 5 | 33/100 |
| Revenue growth volatility | 74.8% | 0/100 |
| Operating margin volatility | 21.7% | 0/100 |
Weight in the score: 20%
| Revenue growth, 3-year average | -15.5% | 0/100 |
|---|---|---|
| EPS growth, 3-year average | -28.4% | 0/100 |
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 same model applied each year to the statements published at the time: the score is never recalculated with later information.
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 | 489,407 | 627,284 | 276,715 | 463,568 | 379,069 |
| Cost of revenue | 187,412 | 228,841 | 226,806 | 287,463 | 286,390 |
| Gross profit | 301,934 | 398,450 | 49,930 | 176,126 | 92,695 |
| Operating income | 284,862 | 374,808 | 34,750 | 159,945 | 74,123 |
| Interest expense | 3,237 | 3,255 | 4,949 | 5,226 | 4,978 |
| Pre-tax income | 288,235 | 399,424 | 64,172 | 180,350 | 82,860 |
| Income tax | 25,125 | 53,252 | 24,196 | 36,366 | 12,613 |
| Net income | 239,015 | 334,201 | 35,337 | 139,453 | 68,581 |
| Diluted EPS | TWD45.22 | TWD86.22 | TWD16.42 | TWD64.76 | TWD31.64 |
1 older year available with the 10-year history. Essential plan, from €8.25/month →
4.95 Safe 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 –