1. Taiwan, Province of China Stocks

  2. •

    Consumer Cyclical

  3. •

    Home Improvement
Test-Rite International Co., Ltd.

Test-Rite International Co., Ltd.

2908.TW
Test-Rite International Co., Ltd.TW flagTaiwan Stock Exchange
21.35
TWD
+0.15
- -
10.89BMarket Cap
Test-Rite International Co., Ltd.
2908.TW
(Taiwan Stock Exchange)

Recent

price

21.35

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
65.37
69.35
71.41
72.27
72.13
70.93
69.51
72.49
78.25
75.65
84.33
88.32
75.49
71.45
73.2
- -
65.83
Revenue per Share
0.98
1.23
1.03
1.3
1.42
1.32
1.33
1.61
0.8
0.2
1.6
1.58
0.86
0.52
0.66
- -
0.23
Basic EPS, GAAP
-0.08
-1.21
4.71
0.86
-1.2
0.98
3.46
0.2
-2.23
2.21
9.04
2.12
-1.32
3.5
3.96
- -
2.9
Free Cash Flow per Basic Share
0.25
0.65
0.78
1.08
1.01
1.14
0.95
1.08
1.2
1.3
0.71
1.07
1.28
1.28
0.59
- -
- -
Dividend per Share
11.11
12.57
11.92
13.96
11.63
11.11
11.2
11.54
10.91
10.3
11.89
11.88
11.28
10.83
10.84
- -
10.39
Book Value per Share
5.98
7.95
8.61
8.98
9.81
9.49
9.5
10
9.46
7.67
8.56
9.05
9.26
8.68
10.2
- -
10.91
Tangible Book Value per Share
499
517
494
487
498
507
510
510
510
503
496
495
496
496
503
- -
511
Basic Weighted Avg Shares
32,608
35,878
35,252
35,204
35,946
35,981
35,443
36,963
39,898
38,061
41,791
43,757
37,409
35,411
36,832
33,622
33,622
Sales/Revenue/Turnover
2.67
2.51
2.04
2.21
2.73
2.25
2.33
2.6
1.22
2.25
2.76
1.75
0.53
1.46
1.8
0.53
0.53
Operating Margin (%)
891
990
816
812
810
823
834
752
724
2,681
2,521
2,306
2,280
2,306
2,218
2,216
2,216
Depreciation Expense
487
636
509
635
706
671
676
823
406
100
792
783
426
258
332
115
115
Net Income, GAAP
28.85
13.69
17.77
12.57
19.02
22.5
24.24
25.64
- -
- -
15.83
19.18
- -
- -
43.8
199.07
199.07
Effective Tax Rate (%)
1.49
1.77
1.44
1.8
1.96
1.86
1.91
2.23
1.02
0.26
1.89
1.79
1.14
0.73
0.9
0.34
0.34
Profit Margin (%)
1,297
1,195
797
1,207
1,827
930
1,833
1,620
1,310
1,564
695
1,653
2,775
2,590
4,082
3,435
3,435
Working Capital
5,661
7,151
5,013
5,228
5,663
5,107
5,572
4,492
6,095
16,773
14,928
15,198
17,059
16,263
14,649
14,828
14,828
LT Debt
6,734
7,969
6,649
6,793
7,361
7,429
7,416
7,672
7,413
6,437
6,784
6,983
7,076
6,794
7,646
8,772
8,772
Total Equity
4.1
4.53
3.63
4.75
5.09
3.79
3.88
4.7
- -
- -
3.75
2.41
- -
- -
1.35
-0.62
-0.62
Return on Invested Capital (%)
3.39
3.98
4.02
5.53
5.74
5.68
5.99
7.42
- -
- -
4.3
4
- -
- -
3.14
-0.88
-0.88
Return on Capital (%)
8.86
10.57
8.22
10.02
11.21
11.73
11.92
14.2
7.1
1.87
14.3
13.3
7.42
4.7
6.13
2.14
2.14
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Jun'25
Sep'25
Dec'25
ST Debt
5,093
5,930
6,181
LT Borrowings
9,252
9,113
8,113
LT Finance Leases
5,014
5,673
6,716
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
510
510
510
Market Capitalization
10,008
10,240
10,368

Working Capital

FRC

•

in mil. unless spec.
Jun'25
Sep'25
Dec'25
Total Current Assets
17,681
17,928
17,952
Cash, Cash Equivalents & STI
3,525
3,576
2,627
Accounts Receivable, Net
6,554
6,561
5,551
Inventories
5,397
5,258
7,504
Total Current Liabilities
13,516
14,206
14,517
Payables & Accruals
- -
- -
- -
ST Debt
5,093
5,930
6,181
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
1.97%
5.51%
14.73%
Free Cash Flow
-155.18%
-122.94%
-25.67%
Net Income, GAAP
46.27%
-24.55%
-65.27%
Sales/Revenue/Turnover
-0.39%
-3.97%
-8.72%
Total Cash Common Dividend
- -
- -
54.33%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
8,717
9,167
9,164
8,362
35,411
2024
9,088
9,857
8,872
9,015
36,832
2025
8,557
8,430
8,417
8,218
33,622

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
0.32
0.13
0.1
- -
0.52
2024
0.26
0.2
0.15
- -
0.66
2025
0.15
-0.14
0.06
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
- -
- -
- -
- -
1.28
2024
- -
- -
- -
- -
0.59
2025
- -
- -
- -
- -
- -
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Business
Test-Rite International Co., Ltd. Test-Rite International Co., Ltd. is a Taiwan-based multinational corporation primarily engaged in the import and export trading of household and hardware products; retail operations through chain stores; real estate development and planning; mechanical and electrical construction activities; and logistics warehousing services. The company offers a diverse portfolio of core products including hand tools, garden tools, auto parts, machinery, furniture, ceiling fans, electric fans, lighting fixtures, and other home appliances; it operates under proprietary retail brands such as TLW, HOLA, HOLA CASA, and HOLA Petite, serving major global retailers like Walmart, Sam's Club, Target, Staples, Office Depot, Carrefour, Aldi, and Metro. Founded in 1978 and headquartered at 6th Floor, No. 23 Hsin Hu 3rd Road, Neihu District, Taipei, Taiwan, Test-Rite conducts operations across more than 10 countries, with key offices in the United States, Canada, Great Britain, France, Germany, Australia, China (Shanghai), and Taiwan; it employs approximately 4,543 people and focuses on business-to-business trading, consumer retail, e-commerce, product design, and construction management in the home improvement and consumer discretionary sectors. In recent developments, the company announced a capital increase for its subsidiary Test-Rite Retail Co. in February 2025, issuing 26 million shares at NT$38 each to raise NT$988 million for working capital strengthening and planned initial public offering within three years; this supports retail expansion to 69 stores in Taiwan during 2025, alongside enhancements in e-commerce, online-merge-offline models, free professional consultations, and in-home services. Test-Rite reported consolidated revenue of NT$36.77 billion for 2024, reflecting 3.65% year-over-year growth, with trading contributing NT$19.77 billion and retail NT$17 billion.