1. Taiwan, Province of China Stocks

  2. •

    Technology

  3. •

    Hardware, Equipment & Parts
Thinking Electronic Industrial Co., Ltd.

Thinking Electronic Industrial Co., Ltd.

2428.TW
Thinking Electronic Industrial Co., Ltd.TW flagTaiwan Stock Exchange
301.00
TWD
-8.50
- -
38.56BMarket Cap
Thinking Electronic Industrial Co., Ltd.
2428.TW
(Taiwan Stock Exchange)

Recent

price

301.00

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
34.18
33.77
32.47
33.64
35.87
40.15
42.21
45.48
46.99
45.38
46.21
58.55
58.25
55.24
58.7
- -
62.14
Revenue per Share
4.77
3.16
3.37
4.01
4.87
5.4
7.03
8.47
7.67
8.71
10.81
12.31
10.72
10.21
12.1
- -
11.32
Basic EPS, GAAP
3.1
1.21
3.27
2.41
3.8
6.1
3.57
4.85
6.66
10.56
7.59
5.53
6.98
9.76
10.22
- -
11.51
Free Cash Flow per Basic Share
2
2.4
1.6
1.9
2
2.1
2.63
4.05
4
3.8
4.2
5.5
6.3
5.4
5.2
- -
- -
Dividend per Share
18.41
18.45
19.92
21.65
24.12
26.91
30.71
35.14
37.68
41.31
45.69
52.04
55.09
59.47
64.51
- -
64.44
Book Value per Share
24.09
26.26
27.4
30.25
34.29
37.17
39.3
43.99
47.03
50.5
57.77
64.23
69.48
73.43
83.34
- -
75.71
Tangible Book Value per Share
128
127
127
127
127
127
128
128
128
128
128
128
128
128
128
- -
128
Basic Weighted Avg Shares
4,360
4,303
4,123
4,270
4,556
5,116
5,408
5,827
6,020
5,814
5,920
7,500
7,463
7,077
7,520
8,035
7,960
Sales/Revenue/Turnover
19.92
10.96
12.84
15.37
15.67
16.72
18.39
21.26
23.04
24.98
31.16
28.3
18.82
22.6
23.57
25.03
24.27
Operating Margin (%)
136
140
151
156
150
160
171
190
227
273
284
322
381
391
423
448
450
Depreciation Expense
609
403
428
509
619
688
901
1,085
983
1,116
1,385
1,577
1,374
1,308
1,551
1,506
1,450
Net Income, GAAP
20.17
21.71
25.85
25.4
23.8
30.17
26.8
27.34
34.49
26.32
26.07
26.34
22.64
23.88
25.77
30.74
28.07
Effective Tax Rate (%)
13.96
9.36
10.37
11.92
13.58
13.45
16.65
18.61
16.33
19.19
23.39
21.03
18.41
18.48
20.62
18.74
18.22
Profit Margin (%)
1,964
2,359
2,360
2,722
3,315
3,561
3,489
4,085
4,358
4,813
6,033
6,541
6,837
6,350
7,131
7,744
6,176
Working Capital
10
176
- -
- -
31
- -
150
150
100
88
432
763
1,108
977
770
532
677
LT Debt
3,116
3,350
3,483
3,844
4,357
4,738
5,036
5,655
6,060
6,515
7,445
8,276
8,943
9,448
10,711
11,281
9,732
Total Equity
20.98
10.14
9.48
11.32
11.96
12.08
13.79
15.42
14.25
15.75
17.33
16.62
10.3
11.14
11.21
10.69
12.06
Return on Invested Capital (%)
23.57
13.37
13.74
15.87
17.6
18.76
22.21
23.24
18.94
20
21.53
20.13
15.58
14.44
16.45
14.46
15.69
Return on Capital (%)
27.74
17.14
17.52
19.3
21.29
21.2
24.46
25.71
21.07
22.06
24.85
25.19
20.02
17.82
19.52
17.35
18.44
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Dec'24
Mar'25
Jun'25
ST Debt
1,018
951
548
LT Borrowings
680
636
593
LT Finance Leases
90
95
85
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
128
128
128
Market Capitalization
19,390
18,686
16,971

Working Capital

FRC

•

in mil. unless spec.
Dec'24
Mar'25
Jun'25
Total Current Assets
9,656
9,945
8,973
Cash, Cash Equivalents & STI
4,893
5,158
4,551
Accounts Receivable, Net
2,349
2,274
2,200
Inventories
1,455
1,554
1,449
Total Current Liabilities
2,525
2,504
2,797
Payables & Accruals
- -
- -
- -
ST Debt
1,018
951
548
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
9.11%
8.71%
5.32%
Free Cash Flow
12.21%
11.95%
16.15%
Net Income, GAAP
9.14%
2.37%
-2.87%
Sales/Revenue/Turnover
4.93%
6.82%
6.85%
Total Cash Common Dividend
12.91%
8.96%
17.31%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
1,719
1,816
1,763
1,778
7,077
2024
1,561
1,950
1,977
2,032
7,520
2025
1,896
2,055
2,004
- -
8,035

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
2.34
2.43
2.6
- -
10.21
2024
2.6
3.42
2.96
- -
12.1
2025
2.97
2.26
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
- -
- -
- -
- -
5.4
2024
- -
- -
- -
- -
5.2
2025
- -
- -
- -
- -
- -
Similar Companies
Smartoptics Group AS (SMOPF)
Kleos Space S.A. (KSS.AX)
Shenzhen KTC Technology Co., Ltd. (001308.SZ)
PG Electroplast Limited (PGEL.BO)
Advanced Wireless & Antenna Inc. (6818.TWO)
Novanta Inc. (0VAG.L)
Business
Thinking Electronic Industrial Co., Ltd. is a Taiwan-based manufacturer, engaging in the production, processing, and distribution of electronic components. The company specializes in a comprehensive range of circuit protection solutions, encompassing devices for over-voltage, over-temperature, and over-current scenarios. Its diverse product portfolio includes negative temperature coefficient (NTC) thermistors, zinc oxide varistors (MOV), ceramic positive temperature coefficient (PTC) thermistors, and polymer PTC resettable fuses. Additionally, Thinking Electronic provides temperature sensors, gas discharge tubes (GDT), ESD suppressors, TVS diodes, spark gap protectors, and thyristor surge suppressors. These components are vital across numerous sectors, such as automotive systems, telecommunications equipment, industrial applications, power supply units, smart home appliances, lighting, consumer electronics, renewable energy, and medical devices. The company, established in 1979 and headquartered in Kaohsiung, Taiwan, also extends custom product design and development services. Recent innovations include high-voltage ceramic PTC thermistors rated up to 1,000 Vdc, and integrated MOV and GDT over-voltage protectors. Thinking Electronic maintains rigorous quality standards, holding ISO/TS 16949 and ISO 9001 certifications, alongside various product approvals from UL, VDE, TUV, and CQC.