Argosy Research Inc.

Argosy Research Inc.

3217.TWO
Argosy Research Inc.TW flagTaipei Exchange
173.50
TWD
-0.50
- -
15.63BMarket Cap
Argosy Research Inc.
3217.TWO
(Taipei Exchange)

Recent

price

173.50

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
32.85
21.67
22.73
17.67
15.01
14.74
17.52
18.7
21.27
26.7
30.6
33.48
29.06
33.41
38.55
- -
46.05
Revenue per Share
2.01
1.01
1
1.12
1.5
1.1
2.26
2.88
3.54
5.34
7.2
7.11
6.8
8.11
11.25
- -
12.69
Basic EPS, GAAP
2.01
0.72
-0.92
1.08
2.36
2.01
1.87
3.12
2.02
5.91
6.7
2.83
8.13
6.05
9.69
- -
11.58
Free Cash Flow per Basic Share
1.3
1.44
0.48
0.74
1.18
1.29
0.98
1.96
2.5
3
4.16
5.6
5.62
5.36
6.4
- -
- -
Dividend per Share
11.72
11.02
11.47
12.6
11.97
11.47
12.8
13.49
14.34
16.59
19.59
19.25
19.8
21.86
25.88
- -
28.65
Book Value per Share
14.74
13.88
14.31
15.92
16.63
16.78
18.17
19.87
20.68
25.07
40.85
43.19
42.97
47.68
51.45
- -
51.82
Tangible Book Value per Share
87
87
86
86
86
85
84
84
84
82
85
90
90
90
90
- -
90
Basic Weighted Avg Shares
2,854
1,879
1,946
1,512
1,285
1,249
1,464
1,563
1,778
2,193
2,598
3,016
2,608
3,004
3,473
4,148
4,148
Sales/Revenue/Turnover
10.46
5.19
5.23
6.09
9.05
5.21
14.66
20.35
18.73
24.67
30.02
26.02
20.69
27.53
30.56
31.38
31.38
Operating Margin (%)
64
51
68
101
107
108
105
92
96
104
102
116
130
133
139
126
126
Depreciation Expense
175
88
86
96
128
93
189
241
296
439
612
640
611
729
1,013
1,143
1,143
Net Income, GAAP
25.23
27.92
19.31
21.33
15.02
16.57
23.91
20.76
20.92
22.1
19.47
20.7
19.72
21.15
19.92
20.79
20.79
Effective Tax Rate (%)
6.12
4.67
4.39
6.34
9.98
7.43
12.93
15.4
16.63
20
23.54
21.22
23.41
24.26
29.17
27.55
27.55
Profit Margin (%)
875
520
429
422
465
473
585
629
746
946
1,946
1,837
1,795
2,080
2,461
2,691
2,691
Working Capital
334
30
86
25
- -
- -
- -
- -
- -
7
7
4
12
10
8
5
5
LT Debt
1,280
1,204
1,239
1,374
1,434
1,432
1,529
1,671
1,739
2,069
3,479
3,901
3,867
4,297
4,646
4,678
4,678
Total Equity
13.16
4.02
4.85
4.18
5.86
3.46
10.24
14.49
14.15
20.56
21.47
16.19
10.65
15.27
18.27
21.31
21.31
Return on Invested Capital (%)
12.98
6.39
6.62
6.91
10.05
8.39
17.02
20.11
23.16
32.15
39.32
37.5
34.22
38.29
46.83
46.31
46.31
Return on Capital (%)
17.54
8.89
8.83
9.31
12.2
9.29
18.54
21.91
25.42
34.26
40.43
37.67
34.78
38.94
47.16
46.54
46.54
Return on Common Equity (%)

Capital Structure

FRC

in mil. unless spec.
Jun'25
Sep'25
Dec'25
ST Debt
7
6
6
LT Borrowings
- -
- -
- -
LT Finance Leases
7
5
5
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
90
90
90
Market Capitalization
14,378
15,719
14,323

Working Capital

FRC

in mil. unless spec.
Jun'25
Sep'25
Dec'25
Total Current Assets
3,807
3,491
4,081
Cash, Cash Equivalents & STI
2,016
1,448
1,954
Accounts Receivable, Net
1,185
1,402
1,361
Inventories
540
558
673
Total Current Liabilities
1,816
1,090
1,390
Payables & Accruals
- -
- -
- -
ST Debt
7
6
6
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
13.84%
6.24%
0.69%
Free Cash Flow
41.32%
37.11%
19.45%
Net Income, GAAP
31.31%
14.25%
12.8%
Sales/Revenue/Turnover
13.24%
10.56%
19.44%
Total Cash Common Dividend
- -
- -
37.5%

Quarterly Revenue

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
590
718
894
802
3,004
2024
682
792
1,041
958
3,473
2025
924
1,054
1,131
1,040
4,148

Quarterly Earnings Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
1.07
1.75
3.19
- -
8.11
2024
2.22
2.47
3.49
- -
11.25
2025
2.96
2.3
4.21
- -
- -

Quarterly Dividends Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
- -
- -
- -
- -
5.36
2024
- -
- -
- -
- -
6.4
2025
- -
- -
- -
- -
- -
Business
Argosy Research Inc. engages in the design, manufacture, and sale of high-performance electronic connectors and components, specializing in high-frequency and high-speed connectors. Its main product lines include DDR SO-DIMM, DDR Long DIMM, M.2 (Gen 3/4/5 and M.2-1A), USB Type-C (including USB 3.2/4 Gen 3 and Thunderbolt 4/5), PCIe (Gen 3/4/5), micro coaxial (RF), board-to-board connectors, compression attached memory series, and micro stamping parts tailored for SiP modules and 3D stacking processes in the OSAT industry. The company provides customized ODM and OEM design services and actively collaborates with international standards organizations such as JEDEC, USB-IF, PCI-SIG, and OCP. Argosy serves a broad range of markets, including PC and consumer electronics, servers, AI computing, telecom networks, automotive electronics, industrial, military, mobile, and wearable devices. Founded in 1987 and headquartered in Hsinchu City, Taiwan, Argosy operates manufacturing facilities in Taiwan, Kunshan and Suining in China, and an expanding factory in Hung Yen Province, Vietnam, with a total operating area of approximately 52,700 square meters. The company maintains vertically integrated in-house production processes, including design, tooling, stamping, plating, injection molding, and assembly with robotic automation and ISO-certified cleanroom standards (ISO 14644-1 Class 5-6). Key certifications include RBA 8.0, IATF 16949, ISO 9001, ISO 14001, ISO 45001, ISO 50001, and others, supporting its commitment to quality, sustainability, and environmental responsibility. Recent major developments include Argosy maintaining a global PC market share exceeding 45% for DDR SO-DIMM and M.2 connectors from 2021 to 2024, and the successful upgrade of its Type-C connectors to Intel Thunderbolt 5 specifications in 2024. The company has achieved elevated CDP sustainability rankings in climate change and water security, reflecting increased environmental efforts, including renewable energy usage exceeding 5% and a year-over-year reduction in greenhouse gas emissions. In 2023, Argosy's Kunshan factory received recognition as a "Green Factory" by Jiangsu Province authorities. The company also continuously supports product innovation with recent releases focusing on advanced interconnect technologies tailored to next-generation computing and automotive applications. Argosy is publicly listed on the Taiwan Over-the-Counter exchange under ticker 3217.TWO and reported NT$4.07 billion in revenue for the trailing twelve months ending September 2025. The company leverages strategic partnerships and collaborations to co-develop next-generation connectors, reinforcing its position as a leading global connector manufacturer and supplier. This comprehensive product portfolio, geographic footprint, strong sustainability credentials, and ongoing technological advancements position Argosy Research Inc. as a key player in the global electronic connector industry.