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    Real estate development
Sakura Development Co., Ltd.

Sakura Development Co., Ltd.

TTWSE:2539
32.50
TWD
-0.75
(-2.26%)
3.45EPS
9.23P/E
46.41BMarket Cap
Sakura Development Co., Ltd.
TWSE:2539
(Taiwan Stock Exchange)

Recent

price

32.50

P/E

ratio

9.23

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
TWD
1.1
0.91
1.31
2.49
2.95
2.67
2.66
3.33
2.7
5.29
3.24
3.4
4.33
4.86
6.2
9.62
10.72
Revenue per Share
0.17
0.18
0.3
0.79
0.88
0.8
0.78
0.79
0.32
1.06
0.58
0.6
1.04
1.32
1.94
2.83
3.45
Basic EPS, GAAP
0.21
-1.07
0.02
0.01
-0.1
-0.21
0.63
-1.6
-0.53
1.06
-2.52
-1.25
0.78
0.28
0.31
3.63
3.85
Free Cash Flow per Basic Share
- -
0.01
0.02
0.02
0.04
0.19
0.25
0.44
0.4
0.06
0.33
0.09
0.09
0.1
0.24
0.34
- -
Dividend per Share
1.37
1.29
1.58
2.35
3.18
3.79
4.32
4.67
4.59
5.13
5.43
5.9
6.88
8.1
9.81
12.3
13.75
Book Value per Share
1.37
1.29
1.58
2.35
3.18
3.79
4.32
4.67
4.59
5.13
5.43
5.9
6.88
8.1
9.81
12.3
13.75
Tangible Book Value per Share
1,254
1,255
1,255
1,255
1,255
1,255
1,255
1,255
1,405
1,406
1,423
1,257
1,445
1,452
1,456
1,456
1,453
Basic Weighted Avg Shares
1,381
1,138
1,645
3,121
3,706
3,346
3,343
4,181
3,792
7,431
4,616
4,274
6,264
7,063
9,019
14,003
15,579
Sales/Revenue/Turnover
14.87
20.3
22.74
34.36
32.39
33.58
31.12
26.26
13.95
22.23
22.77
23.03
30.76
34.93
39.56
36.09
39.45
Operating Margin (%)
2
2
2
3
2
2
2
3
3
4
5
6
5
5
4
5
6
Depreciation Expense
213
230
380
991
1,106
1,004
976
987
450
1,489
822
754
1,505
1,915
2,830
4,124
5,020
Net Income, GAAP
0.41
0.89
0.04
7.63
7.7
10.31
9.08
9.43
12.85
8.88
20.39
21.21
21.38
22.53
21.03
19.41
19.43
Effective Tax Rate (%)
15.41
20.26
23.08
31.75
29.85
30.01
29.2
23.6
11.87
20.03
17.81
17.64
24.03
27.11
31.38
29.45
32.23
Profit Margin (%)
1,717
1,982
2,422
2,825
4,151
5,443
6,439
7,131
6,999
8,886
11,233
12,326
13,132
14,833
16,565
20,043
21,992
Working Capital
123
482
563
- -
273
757
1,105
1,356
1,349
1,768
3,573
3,950
3,270
3,150
2,392
2,231
2,099
LT Debt
1,722
1,623
1,982
2,948
3,998
4,763
5,424
5,861
5,762
7,233
7,767
8,489
9,961
11,795
14,283
17,910
20,013
Total Equity
11.59
8.9
11.1
22.63
20
14.7
12.02
10.89
4.24
12.83
5.95
4.5
8.15
9.52
12.32
15.75
18.41
Return on Invested Capital (%)
11.72
8.96
11.3
22.93
20.27
14.86
12.53
10.92
4.27
12.94
6.02
4.56
8.27
9.76
12.71
16.35
19.1
Return on Capital (%)
13.15
13.78
21.06
40.2
31.86
22.93
19.16
17.49
7.75
22.91
10.96
9.28
16.32
17.6
21.71
25.62
28.11
Return on Common Equity (%)

Capital Structure

TWD

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
6,589
4,822
5,121
LT Borrowings
2,231
2,628
2,099
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
1,456
1,456
1,456
Market Capitalization
57,865
57,150
46,412

Working Capital

TWD

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
32,382
31,999
32,444
Cash, Cash Equivalents & STI
8,398
7,776
8,387
Accounts Receivable, Net
191
124
145
Inventories
23,148
23,520
23,481
Total Current Liabilities
12,339
10,751
10,452
Payables & Accruals
- -
- -
- -
ST Debt
6,589
4,822
5,121
Deferred Revenue
- -
- -
- -

Growth Rates

TWD

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
14.47%
18.31%
25.4%
Free Cash Flow
-66.74%
159.21%
1,078.99%
Net Income, GAAP
34.18%
42.42%
45.71%
Sales/Revenue/Turnover
20.86%
26.97%
55.27%
Total Cash Common Dividend
62.37%
26.32%
45%

Quarterly Revenue

TWD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
1,297
479
8
7,236
9,019
2025
5,504
1,470
2,938
4,091
14,003
2026
2,477
6,073
- -
- -
- -

Quarterly Earnings Per Share

TWD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.28
0.05
-0.1
1.72
1.94
2025
1.07
0.25
0.6
0.92
2.83
2026
0.56
1.38
- -
- -
- -

Quarterly Dividends Per Share

TWD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
0.24
2025
- -
- -
- -
- -
0.34
2026
- -
- -
- -
- -
- -
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Business
Sakura Development Co., Ltd. (2539.TW) is a Taiwan-based real estate developer principally engaged in the development, sale, and leasing of multi-unit residential and commercial buildings constructed by independent contractors; its core offerings include residential properties such as homes and apartments, commercial spaces like shops and stores, and other collective buildings, with a primary focus on high-demand areas including the Zhongzhangtou district, Taichung, Tainan, and the Southern Taiwan Science Park. Founded in 1976 and headquartered at 4F, No. 512, Yingcai Road, West District, Taichung, Taiwan, the company targets domestic markets in Taiwan, serving individual homebuyers, investors, and tenants through projects like Upward Cherry Blossom, Southern Taiwan Science Park Cherry Blossom, and Zhongshan Cherry Blossom. With approximately 111 employees, Sakura Development operates exclusively within Taiwan's real estate development and operations sector. In recent developments, the company acquired two land plots in Tainan totaling 11,000 square meters for NT$683.7 million in April 2025 to support new residential projects; it purchased three additional land plots for about NT$511 million in December 2024 and land in Wuri District, Taichung, in March 2025, alongside approving extra construction contracts and acquiring land for NT$958 million in residential development. These strategic land acquisitions and expansions reflect ongoing business growth amid a booming Taiwan real estate market, with building completions peaking from 2023-2024 and revenue reaching NT$17.15 billion on a trailing twelve-month basis.