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HannStar Board Corporation

HannStar Board Corporation

5469.TW
HannStar Board CorporationTW flagTaiwan Stock Exchange
80.60
TWD
-2.90
- -
39.17BMarket Cap
HannStar Board Corporation
5469.TW
(Taiwan Stock Exchange)

Recent

price

80.60

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
51.01
94.58
130.31
119.61
114.57
95.16
92.8
93.31
103.14
100.65
96.63
117.31
98.09
81.33
81.71
- -
85.91
Revenue per Share
1.28
1.13
1.31
-0.59
1.66
0.86
2.22
2.02
3.76
6.57
6.69
7.67
6.6
5.07
5.91
- -
3.8
Basic EPS, GAAP
0.77
2.39
2.49
7.62
-0.57
3.1
8.4
-0.69
-3.98
13.66
10.75
6.81
16.32
16.36
7.08
- -
7.63
Free Cash Flow per Basic Share
1.28
0.22
0.51
0.43
- -
0.64
0.21
0.64
0.85
1.05
1.87
2.39
2.39
2.4
1.66
- -
- -
Dividend per Share
13.24
16.16
16.87
20.12
17.54
17.59
19.38
20.52
23.27
28.58
30.93
34.68
38.14
37.15
41.45
- -
46.75
Book Value per Share
27.51
37.73
36.76
37.69
44.58
45.28
45.81
53.6
63.26
81.35
81.82
80.79
80.69
82.84
91.62
- -
102.72
Tangible Book Value per Share
431
431
429
426
425
425
425
425
424
429
473
486
486
528
510
- -
483
Basic Weighted Avg Shares
21,999
40,758
55,943
51,007
48,662
40,417
39,415
39,629
43,769
43,142
45,704
57,000
47,688
42,976
41,632
57,226
41,510
Sales/Revenue/Turnover
4.36
2.88
1.55
-0.42
1.37
0.04
3.29
4.09
5.33
8.19
11.79
11.6
11.37
16.1
14.66
10.63
10.65
Operating Margin (%)
1,896
2,817
3,425
3,162
2,820
2,595
2,309
1,998
2,125
2,590
2,307
2,131
2,446
2,541
2,408
3,234
2,426
Depreciation Expense
552
486
562
-251
706
365
945
856
1,595
2,817
3,164
3,725
3,209
2,680
3,012
2,923
1,835
Net Income, GAAP
25.23
17.48
39.49
- -
12.77
58.91
23.51
35.73
32.97
25.49
29.22
27.57
35.59
35.19
38.37
31.96
35.77
Effective Tax Rate (%)
2.51
1.19
1
-0.49
1.45
0.9
2.4
2.16
3.65
6.53
6.92
6.54
6.73
6.24
7.24
5.11
4.42
Profit Margin (%)
7,528
9,008
7,167
11,956
12,784
12,761
10,597
11,965
12,246
12,122
16,652
16,707
20,917
18,150
13,815
14,208
14,208
Working Capital
12,798
13,522
10,414
13,770
12,158
11,696
9,550
10,520
11,209
10,143
10,725
7,715
8,356
8,093
8,435
12,513
12,513
LT Debt
12,032
17,187
16,691
16,976
19,848
20,039
20,247
23,529
27,598
35,587
39,410
39,969
39,951
44,493
47,415
53,592
53,592
Total Equity
3.04
2.64
1.18
- -
1.26
0.01
2.27
2.38
3.27
5.04
6.78
8.02
5.64
6.96
5.31
4.96
3.41
Return on Invested Capital (%)
2.48
1.35
2.17
- -
2.66
1.85
2.43
2.34
4.51
6.66
5.73
3.74
3.88
2.06
3
2.32
1.31
Return on Capital (%)
9.63
7.68
7.91
-3.17
8.8
4.89
12.03
10.1
17.16
25.46
23.54
23.67
18.13
14.04
14.78
13.38
8.39
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Jun'25
Sep'25
Dec'25
ST Debt
26,555
- -
24,255
LT Borrowings
13,421
- -
11,775
LT Finance Leases
670
- -
738
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
481
485
486
Market Capitalization
30,101
44,210
44,596

Working Capital

FRC

•

in mil. unless spec.
Jun'25
Sep'25
Dec'25
Total Current Assets
52,890
- -
58,058
Cash, Cash Equivalents & STI
26,605
- -
28,070
Accounts Receivable, Net
14,669
- -
15,732
Inventories
9,511
- -
11,540
Total Current Liabilities
45,733
- -
43,850
Payables & Accruals
- -
- -
- -
ST Debt
26,555
- -
24,255
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
10.66%
6.47%
13.03%
Free Cash Flow
14.83%
14.36%
16.17%
Net Income, GAAP
32.19%
-0.63%
-2.95%
Sales/Revenue/Turnover
4.58%
6.56%
37.46%
Total Cash Common Dividend
- -
- -
43.75%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
10,330
10,794
11,767
10,085
42,976
2024
9,246
10,401
11,808
10,177
41,632
2025
10,569
15,563
- -
15,378
57,226

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
1.24
1.64
2.12
- -
5.07
2024
0.99
1.76
1.56
- -
5.91
2025
1.52
1.15
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
- -
- -
- -
- -
2.4
2024
- -
- -
- -
- -
1.66
2025
- -
- -
- -
- -
- -
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Business
HannStar Board Corporation manufactures and sells printed circuit boards in Taiwan. The company produces double-sided, multi-layer, thick copper, high-density interconnect, SLC multi-layer, rigid-flex, and high-frequency high-speed PCBs for applications including servers, AI accelerators, networking equipment, industrial computers, notebook computers, game consoles, televisions, liquid crystal displays, personal computers, automotive electronics, set-top boxes, and military products; it also provides electronic manufacturing services through subsidiaries. Founded in 1989 and headquartered in Taoyuan City, Taiwan, HannStar Board operates primarily in Asia, with sales in the Americas and Europe, and maintains subsidiaries such as Global Brands Manufacture Ltd. in Malaysia and relationships within the Passive System Alliance including Walsin Technology Corporation as a major shareholder. Recent developments include expanding AI server PCB capacity with shipments of 650,000 server motherboards in the first three quarters of 2025, achieving a 23% global market share in AI server boards and over 20% of revenue from AI-related products; capital expenditures nearing NT$6 billion through 2027 for new production lines in Taoyuan Technology Park, leased space in Taoyuan Science Park for 400G switches, and a Malaysia facility for AI server motherboards and automotive PCBs starting in early 2026; development of 800G switch boards for volume production in Singapore next year; and benefits from the acquisition of Japan-based Lincstech by subsidiary Global Brands Manufacture.