1. Taiwan Stocks

  2. •

    Industrial services

  3. •

    Engineering & construction
Delpha Construction Co., Ltd.

Delpha Construction Co., Ltd.

TTWSE:2530
19.95
TWD
-0.15
(-0.75%)
0.65EPS
28.94P/E
16.24BMarket Cap
Nov 06Next Earn
Delpha Construction Co., Ltd.
TWSE:2530
(Taiwan Stock Exchange)

Recent

price

19.95

P/E

ratio

28.94

div

yld

11.30%

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
TWD
6.33
4.58
0.05
2.1
0.03
11.22
8.2
0.24
4.22
0.04
0.31
0.01
2.47
2.32
7.26
7.55
3.47
Revenue per Share
2.02
0.92
-0.06
-0.12
-0.61
2.42
1.46
-0.4
0.09
-0.25
-0.32
-0.2
0.56
0.61
1.94
2.03
0.67
Basic EPS, GAAP
1.27
-7.17
-0.36
-0.53
0.1
8.54
-1.14
0.71
2.1
-0.41
-5.52
-12.84
-3.49
-2.53
-2.51
2.27
-1.56
Free Cash Flow per Basic Share
0.53
0.99
0.28
0.14
- -
- -
1.51
0.75
- -
0.3
0.1
- -
- -
0.41
1.88
1.92
2.25
Dividend per Share
11.33
11.07
10.73
10.49
9.89
12.35
12.19
11.16
11.26
10.72
11.81
11.65
12.24
12.44
12.5
12.01
11.88
Book Value per Share
11.33
11.07
10.73
10.49
9.89
12.35
12.19
11.16
11.26
10.72
11.81
11.63
12.22
12.42
12.48
11.99
11.87
Tangible Book Value per Share
287
287
287
287
287
287
288
288
288
271
282
584
809
840
840
840
839
Basic Weighted Avg Shares
1,816
1,314
14
603
10
3,220
2,358
69
1,212
10
87
9
1,994
1,951
6,095
6,339
2,909
Sales/Revenue/Turnover
18.24
20.46
-559.76
-1.96
-1,295.91
22.45
22.08
-154.81
5.62
-668.15
-73.18
-997.9
20.04
33.15
33.55
33.85
25.77
Operating Margin (%)
2
1
1
2
3
3
3
3
3
4
5
5
6
6
7
8
8
Depreciation Expense
579
263
-17
-35
-174
695
421
-114
27
-69
-90
-115
452
511
1,629
1,701
559
Net Income, GAAP
- -
26.36
580.99
- -
- -
5.01
12.45
- -
42.11
- -
- -
- -
- -
22.5
20.19
20.4
19.44
Effective Tax Rate (%)
31.88
20.01
-124.78
-5.83
-1,766.47
21.57
17.87
-165
2.22
-675.48
-102.6
-1,314.79
22.65
26.19
26.73
26.84
19.23
Profit Margin (%)
2,944
5,376
4,811
3,001
2,762
3,611
3,731
3,999
4,088
3,219
6,214
12,350
11,644
12,254
13,213
11,378
12,695
Working Capital
104
2,409
1,821
14
20
14
13
660
722
- -
- -
3,896
1,346
1,728
2,652
1,315
2,728
LT Debt
3,347
3,263
3,153
3,157
2,972
3,819
3,802
3,463
3,493
3,371
6,401
8,640
10,519
10,678
10,725
10,304
10,211
Total Equity
- -
3.23
5.51
- -
- -
11.37
8.12
- -
0.74
- -
- -
- -
- -
2.49
7.09
6.72
2.24
Return on Invested Capital (%)
- -
4.87
-1.78
- -
- -
12.25
8.1
- -
0.97
- -
- -
- -
- -
2.66
7.29
6.97
2.4
Return on Capital (%)
18.84
8.08
-0.55
-1.14
-5.88
21.62
11.88
-3.39
0.83
-2.16
-1.94
-1.58
4.84
4.93
15.56
16.53
5.34
Return on Common Equity (%)

Capital Structure

TWD

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
14,271
14,869
14,362
LT Borrowings
1,315
1,516
2,728
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
840
841
841
Market Capitalization
23,730
20,695
16,236

Working Capital

TWD

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
30,448
30,553
30,745
Cash, Cash Equivalents & STI
3,971
3,753
2,920
Accounts Receivable, Net
5
4
4
Inventories
25,788
26,094
27,132
Total Current Liabilities
19,070
19,001
18,050
Payables & Accruals
- -
- -
- -
ST Debt
14,271
14,869
14,362
Deferred Revenue
- -
- -
- -

Growth Rates

TWD

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
13.26%
10.95%
-3.93%
Free Cash Flow
121.79%
20.63%
-190.39%
Net Income, GAAP
-84.49%
-45.95%
4.41%
Sales/Revenue/Turnover
2,508.67%
4,579.92%
4%
Total Cash Common Dividend
- -
- -
2.31%

Quarterly Revenue

TWD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
760
1,798
2,000
1,537
6,095
2025
162
3,477
2,560
141
6,339
2026
187
22
- -
- -
- -

Quarterly Earnings Per Share

TWD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.23
0.62
0.63
0.46
1.94
2025
0.02
1.23
0.82
-0.04
2.03
2026
-0.04
-0.07
- -
- -
- -

Quarterly Dividends Per Share

TWD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
0.76
0.58
1.88
2025
- -
- -
0.4
1.1
1.92
2026
0.75
- -
- -
- -
- -
Similar Companies
Larsen & Toubro Limited (NSE:LT)
Engineers India Limited (NSE:ENGINERSIN)
Tekfen Holding Anonim Sirketi (BIST:TKFEN)
Enka Insaat ve Sanayi A.S. (BIST:ENKAI)
Quanta Services, Inc. (NYSE:PWR)
Sterling Infrastructure, Inc. (NASDAQ:STRL)
Business
Delpha Construction Co., Ltd. (2530:TT) engages primarily in the construction, development, leasing, and sale of residential and commercial properties in Taiwan, operating through segments including construction, movable and immovable property investment and development, and building services; core activities encompass residential communities and office buildings, smart office developments, urban renewal projects, interior decoration, professional area development, and rental and investment activities. Founded in 1960 as Taiwan Shoelace Factory Corp. and renamed Delpha Construction Co., Ltd. in 1985, the company, headquartered at 16F, No. 460, Section 5, Chenggong Road, Neihu District, Taipei City, Taiwan, listed on the Taiwan Stock Exchange in 1995 and maintains subsidiaries such as Huachien Development Co., Ltd. (incorporated 1998, focused on urban renewal like Taiyuan Road project), Huajian Construction Co., Ltd. (incorporated 2021, handling projects in Taoyuan, Taichung, and Tainan), and Dahyoung Real Estate Development Co., Ltd. (incorporated 1997); it targets metropolitan areas across the Six Cities (Taipei, New Taipei, Taoyuan, Taichung, Tainan, Kaohsiung), capitalizing on railway economies, science parks, and redevelopment zones with projects like Metro Building, One and Only, Centre for the Future, Gorgeous Mansion, Qing'an Section, Lejie Sections B and C, Sanzuowu Section, Fuxi Section, Yisin Section, Huisheng Urban Renewal, and Taiyuan Road Urban Renewal. Recent developments include inclusion in the MSCI Global Small Cap Index in November 2022, completion of 2022 cash dividends at NT$0.41 per share in April 2023, amendment of articles in June 2023 to enable quarterly dividend payouts targeting 50-73% payout ratios, public offering and listing approval in July 2025 for 65,664,534 common shares from the second 2022 private placement (commencing trading August 12, 2025), ongoing diversification into Taoyuan (37% estimated sales), Taichung (32%), Taipei (27%), and Tainan (4%) with total projected sales of NT$65 billion, and awards such as the 33rd Chinese Architectural Golden Stone Award for projects including One and Only, Lejie Section Case C, and Yisin Section, alongside ESG advancements like bronze at TCSA Taiwan Corporate Sustainability Reporting Awards and green building initiatives.