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    Telecommunications equipment
Tainet Communication System Corp.

Tainet Communication System Corp.

TTPEX:4905
79.50
TWD
-1.20
(-1.49%)
13.48EPS
5.46P/E
1.99BMarket Cap
Tainet Communication System Corp.
TPEX:4905
(Taipei Exchange)

Recent

price

79.50

P/E

ratio

5.46

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
TWD
11.1
7.32
6.97
5.87
4.3
2.74
2.68
2.34
2.53
1.87
1.85
1.85
2.8
3.92
20.27
24.84
28.79
Revenue per Share
2.89
1.83
-1.15
-0.14
0.5
2.92
7.31
26.71
-10.32
1.56
0.93
1.49
-1.49
5.61
2.91
2.76
12.44
Basic EPS, GAAP
-6.97
0.9
-0.06
1.38
0.31
-1.37
-0.17
0.63
-6.65
-8.13
-0.73
0.55
-0.13
-2.29
2.14
-6.49
-11.65
Free Cash Flow per Basic Share
- -
0.62
0.6
0.6
0.6
0.61
1.83
1.27
2.53
2.75
1.58
1.02
1.22
1.2
1.5
1.5
- -
Dividend per Share
20.3
28.55
27.34
27.84
49.33
101.73
77.29
108.03
97.79
97.39
80.89
93.98
91.72
94.96
97.69
98.24
106.56
Book Value per Share
20.07
28.53
27.33
27.83
49.32
101.73
77.29
108.03
97.79
97.39
80.89
93.98
91.72
93.82
90.32
91.19
99.61
Tangible Book Value per Share
46
45
42
42
42
42
41
38
34
34
35
32
30
29
29
29
29
Basic Weighted Avg Shares
512
330
295
249
182
116
110
90
86
64
64
59
83
115
593
727
837
Sales/Revenue/Turnover
-1.2
-36.64
-19.57
-11.99
-20.92
-35.06
-40.84
-135.26
-114.95
-84.53
-61.19
-44.49
-19.47
-34.63
0.51
1
-0.8
Operating Margin (%)
6
7
6
4
4
4
5
4
3
4
3
3
3
5
33
40
38
Depreciation Expense
133
83
-49
-6
21
123
301
1,022
-351
53
32
48
-44
164
85
81
362
Net Income, GAAP
7.16
21.73
- -
163.49
24.4
4.24
8.57
6.98
- -
63.37
- -
27.31
- -
0.61
22.48
15.87
4.77
Effective Tax Rate (%)
26.06
25.04
-16.52
-2.42
11.65
106.36
272.39
1,140.27
-407.2
83.49
50.26
80.84
-53
143.18
14.35
11.1
43.22
Profit Margin (%)
1,132
904
873
484
450
532
682
1,505
2,769
2,584
2,409
1,727
1,565
925
840
639
834
Working Capital
- -
- -
- -
- -
- -
- -
- -
- -
- -
2
1
1
- -
- -
147
246
372
LT Debt
992
1,245
1,195
1,217
2,120
4,300
3,260
3,859
3,083
2,965
2,837
2,822
2,684
2,825
3,037
3,064
3,339
Total Equity
-2.92
-9.35
- -
1.56
-1.7
-1.2
-1.09
-3.12
- -
-0.62
- -
-0.67
- -
-1.29
0.06
0.15
-0.15
Return on Invested Capital (%)
12.76
7.44
- -
-0.65
1.67
4
7.98
28.76
- -
1.77
- -
1.69
- -
5.6
2.23
2.06
8.12
Return on Capital (%)
15.12
7.67
-4.12
-0.51
1.3
3.88
8.01
28.84
-10.13
1.77
1.12
1.69
-1.6
6.01
3.02
2.81
12.39
Return on Common Equity (%)

Capital Structure

TWD

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
846
826
925
LT Borrowings
157
202
289
LT Finance Leases
89
86
83
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
29
29
29
Market Capitalization
1,788
2,338
1,990

Working Capital

TWD

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
1,672
1,738
2,038
Cash, Cash Equivalents & STI
1,249
1,289
1,485
Accounts Receivable, Net
97
92
108
Inventories
276
289
329
Total Current Liabilities
1,033
1,083
1,204
Payables & Accruals
- -
- -
- -
ST Debt
846
826
925
Deferred Revenue
- -
- -
- -

Growth Rates

TWD

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
-2.59%
1.65%
0.88%
Free Cash Flow
-82.46%
161.53%
-403.41%
Net Income, GAAP
-57.6%
-134.11%
-5.15%
Sales/Revenue/Turnover
45.74%
101.98%
22.56%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

TWD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
122
143
156
172
593
2025
151
184
186
206
727
2026
209
237
- -
- -
- -

Quarterly Earnings Per Share

TWD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
1.75
1.61
-1.37
0.94
2.91
2025
0.36
-1.9
3.32
1
2.76
2026
1.75
6.33
- -
- -
- -

Quarterly Dividends Per Share

TWD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
1.5
2025
- -
- -
- -
- -
1.5
2026
- -
- -
- -
- -
- -
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Business
Tainet Communication System Corp. (4905.TWO) develops and provides network communication solutions and cybersecurity products for enterprise and government customers. The company offers core products and services including the proprietary firewall series under the ThorGuard brand, such as ThorGuard UTM-3600 and ThorGuard NGFW appliances for unified threat management and next-generation firewall protection; VPN solutions like ThorVPN for secure remote access; content filtering and web security gateways; antivirus and anti-malware software; intrusion prevention systems (IPS); and managed security services encompassing cloud-based threat intelligence and SOC operations. Tainet also provides network management software, including bandwidth management tools and IoT security platforms tailored for smart city and industrial applications. Founded in 1993 and headquartered in Taipei, Taiwan, the company primarily serves markets in Taiwan, with additional operations across Asia-Pacific regions including China, Southeast Asia, and select international clients in telecommunications and finance sectors. In recent developments, Tainet expanded its cybersecurity portfolio in 2024 with the launch of advanced AI-driven threat detection features integrated into its ThorGuard NGFW series, enhancing zero-trust architecture capabilities; the company also formed a strategic partnership with a leading Taiwanese semiconductor firm in early 2025 to co-develop secure IoT gateways for 5G networks, marking its entry into edge computing security. No major acquisitions or funding rounds were reported in the last two years, though Tainet reorganized its R&D divisions to focus on cloud-native security solutions amid growing demand for hybrid work environments.