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    Manufacturing - Tools & Accessories
Key Ware Electronics Co., Ltd.

Key Ware Electronics Co., Ltd.

5498.TWO
Key Ware Electronics Co., Ltd.TW flagTaipei Exchange
59.70
TWD
-1.40
- -
11.55BMarket Cap
Key Ware Electronics Co., Ltd.
5498.TWO
(Taipei Exchange)

Recent

price

59.70

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
5.64
5.32
7.01
7.67
7.21
4.84
4.51
5.78
6.79
7
7.05
8.86
7.57
5.56
6.05
- -
8.34
Revenue per Share
0.05
0.01
0.02
0.06
0.13
0.02
0.25
0.2
0.2
0.39
0.49
0.18
0.01
0.06
-0.01
- -
- -
Basic EPS, GAAP
0.66
0.61
-0.98
0.19
-0.03
1.31
-1.05
0.14
-0.35
-0.01
0.76
-1.65
-1.33
1.84
-0.79
- -
-0.19
Free Cash Flow per Basic Share
- -
- -
- -
- -
- -
- -
- -
- -
0.02
- -
0.03
0.19
- -
0.1
- -
- -
- -
Dividend per Share
8.38
9.34
9.42
9.41
9.54
9.57
9.81
10.12
10.2
10.58
11.02
11.88
11.06
10.97
11.03
- -
12.96
Book Value per Share
8.42
9.34
9.18
9.54
10.18
9.97
9.68
9.74
8.94
9.5
11.18
11.1
10.91
10.48
10.79
- -
12.45
Tangible Book Value per Share
176
176
177
179
179
179
179
179
179
179
179
178
192
192
192
- -
169
Basic Weighted Avg Shares
992
935
1,243
1,374
1,292
867
808
1,034
1,217
1,255
1,264
1,579
1,454
1,068
1,163
1,408
1,408
Sales/Revenue/Turnover
3.05
2.62
-3.11
1.05
1.66
0.92
4.14
1.94
2.94
3.21
2.74
1.31
-6.25
-16.67
-1.26
0.89
0.89
Operating Margin (%)
196
199
188
176
160
126
70
71
77
103
118
157
174
155
132
154
154
Depreciation Expense
8
2
3
11
24
3
44
36
36
70
87
31
3
12
-1
-1
-1
Net Income, GAAP
61.97
69.08
- -
31.66
24.96
48.03
25.38
31.49
28.52
22.13
23.99
32.46
83.92
96.68
- -
88.2
88.2
Effective Tax Rate (%)
0.83
0.25
0.25
0.79
1.85
0.38
5.43
3.48
2.98
5.54
6.9
1.99
0.18
1.11
-0.13
-0.04
-0.04
Profit Margin (%)
187
416
501
346
787
668
792
728
662
860
1,062
307
921
844
868
1,093
1,093
Working Capital
255
326
306
- -
278
232
188
144
210
406
421
302
743
494
485
465
465
LT Debt
1,539
1,650
1,636
1,715
1,831
1,792
1,741
1,790
1,644
1,742
2,041
2,010
2,125
2,040
2,097
2,120
2,120
Total Equity
0.47
0.34
- -
0.42
0.65
0.16
0.99
0.53
1
1.21
0.9
0.42
-0.39
-0.16
- -
0.04
0.04
Return on Invested Capital (%)
0.86
0.44
- -
1.02
1.53
0.52
2.26
1.7
1.67
2.81
3.31
1.2
0.19
0.55
- -
0.05
0.05
Return on Capital (%)
0.59
0.15
0.19
0.64
1.41
0.19
2.53
2.02
1.99
3.73
4.51
1.54
0.12
0.56
-0.07
-0.03
-0.03
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Jun'25
Sep'25
Dec'25
ST Debt
1,053
1,050
1,059
LT Borrowings
454
451
451
LT Finance Leases
14
11
14
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
192
193
193
Market Capitalization
2,076
3,080
8,505

Working Capital

FRC

•

in mil. unless spec.
Jun'25
Sep'25
Dec'25
Total Current Assets
2,057
2,113
2,327
Cash, Cash Equivalents & STI
562
650
803
Accounts Receivable, Net
586
665
723
Inventories
504
499
494
Total Current Liabilities
1,172
1,226
1,234
Payables & Accruals
- -
- -
- -
ST Debt
1,053
1,050
1,059
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
1.9%
0.82%
1.09%
Free Cash Flow
-685.9%
-157.91%
-78.67%
Net Income, GAAP
136.83%
4.28%
-58.16%
Sales/Revenue/Turnover
6.32%
4.07%
21.05%
Total Cash Common Dividend
- -
- -
51.99%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
249
244
288
288
1,068
2024
261
315
298
289
1,163
2025
301
335
368
404
1,408

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
0.92
-0.14
-0.13
- -
0.06
2024
0.08
-0.04
-0.18
- -
-0.01
2025
-0.12
-0.06
0.01
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
- -
- -
- -
- -
0.1
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
- -
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Business
Key Ware Electronics Co., Ltd. (TPE:5498) manufactures and sells electronic components and modules focused on wireless communication and Internet of Things (IoT) solutions. The company offers core products including Wi-Fi modules, Bluetooth modules, LoRa modules, and Zigbee modules; RF transceivers and antennas; IoT gateway devices and sensors; and customized wireless solutions for smart home, industrial automation, and healthcare applications. Founded in 2000 and headquartered in New Taipei City, Taiwan, Key Ware operates primarily in Asia with distribution networks extending to Europe and North America, serving OEMs, ODMs, and system integrators in the consumer electronics and industrial sectors. In recent developments, the company expanded its product portfolio in 2024 with new Matter-certified Wi-Fi modules supporting the latest smart home interoperability standards and partnered with leading semiconductor firms for next-generation low-power RF chipsets. Additionally, Key Ware announced a strategic investment in 2025 to enhance its production capacity for 5G-enabled IoT modules amid growing demand in smart city projects across Southeast Asia.