1. Taiwan Stocks

  2. •

    Consumer non-durables

  3. •

    Food: specialty/candy
Gourmet Master Co. Ltd.

Gourmet Master Co. Ltd.

TTWSE:2723
84.80
TWD
+0.20
(+0.24%)
-1.04EPS
12.02BMarket Cap
Nov 18Next Earn
Gourmet Master Co. Ltd.
TWSE:2723
(Taiwan Stock Exchange)

Recent

price

84.80

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
TWD
51.51
63.67
75.31
83.99
99.59
113.69
122.52
127.88
133.97
128.65
109.33
110.34
108.41
113.46
105.44
100.6
93.96
Revenue per Share
5.1
6.23
5.45
3.19
2.93
6.33
9.68
11.88
9.26
5.18
5.64
6.07
2.68
4.2
3.28
-2.47
-1.1
Basic EPS, GAAP
4.57
4.77
-0.19
0.72
-0.75
3.98
10.45
9.07
7.33
18.68
13.92
14.57
6.1
10.05
6.26
4.01
1.41
Free Cash Flow per Basic Share
0.86
2.49
2.99
3.92
1.02
0.94
1.96
4.12
5.43
5
3
4
5
2.5
3.5
3
- -
Dividend per Share
27.14
32.24
33.95
34.47
37.37
42.42
47.74
54.77
58.08
56.78
59.52
61.06
60.55
61.2
62.79
56.03
59.68
Book Value per Share
27.02
32.11
33.81
34.06
36.94
41.91
47.39
54.51
57.82
56.54
59.24
60.8
60.3
61.01
62.62
55.91
59.56
Tangible Book Value per Share
162
180
180
180
180
180
180
180
180
180
180
180
180
180
180
180
180
Basic Weighted Avg Shares
8,347
11,456
13,551
15,114
17,921
20,457
22,047
23,018
24,115
23,157
19,679
19,861
19,514
20,424
18,979
18,107
16,913
Sales/Revenue/Turnover
13.07
12.25
9.64
6.23
4.73
8.21
10.72
12.31
9.7
7.35
8.14
7.06
3.75
5.49
6.03
3.74
4.93
Operating Margin (%)
259
374
541
761
920
1,109
1,169
1,110
1,217
3,491
3,286
2,761
2,559
2,493
2,260
1,989
1,757
Depreciation Expense
827
1,121
980
574
528
1,139
1,741
2,138
1,668
933
1,015
1,093
483
757
590
-444
-198
Net Income, GAAP
27.6
25.41
29.32
34.58
40.43
25.72
25.6
27.45
31.37
37.09
29.04
28.71
35.22
29.48
45.9
546.01
155.53
Effective Tax Rate (%)
9.91
9.79
7.23
3.8
2.94
5.57
7.9
9.29
6.92
4.03
5.16
5.5
2.48
3.7
3.11
-2.45
-1.17
Profit Margin (%)
3,271
2,928
2,050
1,557
859
2,065
3,080
3,013
1,859
115
753
2,111
1,223
1,902
1,627
1,204
1,199
Working Capital
1
1
- -
- -
15
966
615
155
160
5,012
3,965
3,362
3,212
2,720
2,937
2,011
2,115
LT Debt
4,966
5,911
6,234
6,274
6,775
7,693
8,668
9,927
10,478
10,216
10,671
10,924
10,795
10,960
11,241
10,098
10,746
Total Equity
21.54
18.68
14.78
9.66
7.7
15.85
18.98
19.65
13.94
7.42
6.39
5.97
2.94
5.01
4.05
-20.64
-3.27
Return on Invested Capital (%)
23.17
20.3
15.67
8.69
7.83
14.38
18.79
20.8
15.3
7.65
6.83
7.45
3.81
5.71
4.3
-6.73
-1.9
Return on Capital (%)
24.25
20.99
16.46
9.32
8.16
15.87
21.46
23.18
16.42
9.02
9.7
10.07
4.41
6.9
5.29
-4.15
-1.87
Return on Common Equity (%)

Capital Structure

TWD

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
1,520
1,315
1,328
LT Borrowings
- -
- -
- -
LT Finance Leases
2,011
2,077
2,115
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
180
180
180
Market Capitalization
12,744
12,258
12,024

Working Capital

TWD

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
6,195
5,597
5,637
Cash, Cash Equivalents & STI
4,387
3,779
3,753
Accounts Receivable, Net
234
203
224
Inventories
873
861
871
Total Current Liabilities
4,991
4,592
4,438
Payables & Accruals
- -
- -
- -
ST Debt
1,520
1,315
1,328
Deferred Revenue
- -
- -
- -

Growth Rates

TWD

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
2.98%
-0.98%
-10.17%
Free Cash Flow
19.73%
-12.49%
-36%
Net Income, GAAP
-17.04%
-37.76%
-175.24%
Sales/Revenue/Turnover
-0.99%
-1.57%
-4.59%
Total Cash Common Dividend
23.64%
6.81%
-14.29%

Quarterly Revenue

TWD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
4,648
4,681
4,733
4,917
18,979
2025
4,832
4,621
4,319
4,335
18,107
2026
4,027
4,232
- -
- -
- -

Quarterly Earnings Per Share

TWD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.89
0.43
0.84
1.11
3.28
2025
1.18
0.65
-6.06
1.77
-2.47
2026
1.31
1.88
- -
- -
- -

Quarterly Dividends Per Share

TWD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
3.5
2025
- -
- -
- -
- -
3
2026
- -
- -
- -
- -
- -
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Business
Gourmet Master Co Ltd (2723:TT) operates a global chain of bakery cafes under the 85 Degrees Bakery Cafe (85°C) brand, specializing in the production and wholesale of bakery products including pastries, breads, cakes, and western-style desserts; retail and wholesale of beverages such as individually brewed coffees from Guatemalan beans, teas, smoothies, and fruit juices; wholesale of bakery machinery; and chain store operations with franchising business. Founded in 1997 and headquartered in Taichung City, Taiwan, the company serves consumer markets primarily in Taiwan, China, Hong Kong, the United States, and Southeast Asia through more than 1,000 outlets worldwide, with Taiwan and the US as key profit centers. In October 2025, Gourmet Master announced its largest restructuring in five years, including the closure of over 40 unprofitable stores in China—exceeding 10% of its 441 outlets there as of mid-year—primarily in underperforming northern and southwestern regions such as Anhui, Beijing, Tianjin, Shandong, Sichuan, and Chongqing; alongside a supply chain overhaul involving adjustments to its "one major, three minor" production model centered in Kunshan, Jiangsu Province, with satellite plants in Fujian, Guangdong, and Hangzhou to enhance efficiency, cut costs, and stem ongoing losses that reached NT$200 million in China operations for the first half of 2025.