Key QQ2 2025 metrics and trends (YoY vs QoQ):
- Revenue: 1,962,796,000 TWD; YoY +161.25%; QoQ 0.00%
- Gross Profit: 389,762,000 TWD; Gross Margin 19.86%; YoY +89.53%; QoQ 0.00%
- Operating Income: 291,466,000 TWD; Operating Margin 14.85%; YoY +89.01%; QoQ 0.00%
- Net Income: 72,972,000 TWD; Net Margin 3.72%; YoY -38.16%; QoQ 0.00%
- EPS: 2.22 (diluted 2.20); YoY -37.46%; QoQ 0.00%
- EBITDA: 145,948,000 TWD; EBITDA Margin 7.44%
- Free Cash Flow: -119,859,000 TWD; CFO: -108,371,000 TWD; Capex: -11,488,000 TWD
- Liquidity and leverage: Cash 311,891,000 TWD; Net Debt 276,096,000 TWD; Current ratio 1.62; Quick ratio 1.21; Interest coverage 39.44x; Debt/Assets 18.3%; Debt/Equity 46.9%.
- Valuation cues: P/E 48.87x, P/B 5.69x, P/S 7.27x; Cash per share 23.19; Free cash flow yield negative.
- Cash flow cadence: Operating cash flow negative, reflecting working capital intensity (DSO ~126 days, DIO ~84.95 days, CCC ~211.10 days).