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CHENG MEI MATERIALS TECHNOLOGY CORPORATION

CHENG MEI MATERIALS TECHNOLOGY CORPORATION

TTWSE:4960
31.50
TWD
+0.65
(+2.11%)
-1.45EPS
14.79BMarket Cap
Nov 02Next Earn
CHENG MEI MATERIALS TECHNOLOGY CORPORATION
TWSE:4960
(Taiwan Stock Exchange)

Recent

price

31.50

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
43.36
50.18
49.16
40.73
36.09
29.09
23.67
20.71
22.57
26.33
16.72
19.68
16.76
15.75
15.65
15.23
14.66
Revenue per Share
4.36
3.77
3.94
5.58
5.13
2.39
-3.39
-2.57
-1.16
-1.22
-0.15
1.35
0.82
-0.99
-0.47
-2.58
-1.45
Basic EPS, GAAP
1.98
-5.5
8.18
10.41
5.14
3.57
-10.68
-7.41
-6.95
-4.5
-0.92
-0.37
2.54
-2.25
-1.1
-1.52
-1.12
Free Cash Flow per Basic Share
0.1
1.66
1.94
1.01
0.11
2.94
0.59
- -
- -
- -
- -
- -
0.6
0.29
- -
- -
- -
Dividend per Share
17.06
18.45
21.13
24.93
29.8
29
24.44
20.06
18.53
17.07
17.01
18.24
19.12
16.04
15.58
12.98
12.5
Book Value per Share
17.06
18.44
21
24.81
29.67
28.88
24.31
19.89
18.37
17.02
16.99
18.22
19.1
16.02
15.56
12.97
12.49
Tangible Book Value per Share
377
379
410
438
438
438
438
477
566
566
566
566
567
586
571
567
565
Basic Weighted Avg Shares
16,343
19,001
20,172
17,853
15,818
12,747
10,374
9,878
12,767
14,896
9,457
11,134
9,500
9,238
8,927
8,643
8,283
Sales/Revenue/Turnover
10.98
8.32
8.28
13.42
13.78
8.49
-15.48
-16.92
-4.01
-3.59
-2.85
1.72
0.17
-5.77
-6.36
-15.45
-14.62
Operating Margin (%)
907
1,121
1,226
1,102
1,039
1,081
852
1,008
1,150
1,015
441
391
414
423
421
440
461
Depreciation Expense
1,643
1,429
1,617
2,446
2,249
1,049
-1,484
-1,226
-655
-689
-86
763
462
-581
-267
-1,463
-820
Net Income, GAAP
2.64
5.38
4.7
10.34
16.21
23.37
- -
- -
- -
- -
- -
8.17
0.13
- -
- -
- -
- -
Effective Tax Rate (%)
10.06
7.52
8.02
13.7
14.21
8.23
-14.3
-12.41
-5.13
-4.62
-0.9
6.85
4.86
-6.29
-2.99
-16.92
-9.9
Profit Margin (%)
-866
1,155
2,414
3,777
6,174
5,267
2,956
1,318
869
1,332
1,653
6,696
8,273
5,647
5,374
5,103
3,724
Working Capital
1,995
2,596
998
- -
- -
- -
- -
- -
203
- -
318
479
1,656
944
1,241
2,416
1,844
LT Debt
6,126
7,345
9,362
11,014
13,141
12,933
13,000
13,281
14,185
9,675
9,622
10,473
10,971
9,179
8,905
7,344
7,072
Total Equity
17.24
11.4
10.61
15.87
12.81
5.5
- -
- -
- -
- -
- -
1.34
0.12
- -
- -
- -
- -
Return on Invested Capital (%)
17.05
11.68
11.81
18.74
16.42
7.2
- -
- -
- -
- -
- -
6.15
4.02
- -
- -
- -
- -
Return on Capital (%)
30.74
21.21
19.48
24.24
18.75
8.14
-12.67
-11.12
-6
-6.84
-0.89
7.6
4.31
-5.77
-2.95
-18
-11.12
Return on Common Equity (%)

Capital Structure

TWD

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
1,652
1,433
2,393
LT Borrowings
2,414
2,203
1,842
LT Finance Leases
1
1
2
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
566
566
566
Market Capitalization
7,609
13,747
14,794

Working Capital

TWD

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
8,206
7,579
7,565
Cash, Cash Equivalents & STI
3,072
2,874
2,779
Accounts Receivable, Net
2,605
2,302
2,317
Inventories
2,112
2,160
2,202
Total Current Liabilities
3,103
2,755
3,841
Payables & Accruals
- -
- -
- -
ST Debt
1,652
1,433
2,393
Deferred Revenue
- -
- -
- -

Growth Rates

TWD

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
-4.61%
-4.65%
-17.53%
Free Cash Flow
-158.58%
-211.8%
38.03%
Net Income, GAAP
-125.12%
-172.65%
448.01%
Sales/Revenue/Turnover
-2.02%
-1.25%
-3.18%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

TWD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
1,908
2,513
2,330
2,176
8,927
2025
2,116
2,115
2,160
2,252
8,643
2026
1,823
2,048
- -
- -
- -

Quarterly Earnings Per Share

TWD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.21
-0.02
-0.41
-0.05
-0.47
2025
-0.41
-1.32
-0.39
-0.47
-2.58
2026
-0.27
-0.32
- -
- -
- -

Quarterly Dividends Per Share

TWD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -
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Business
Cheng Mei Materials Technology Corporation manufactures and sells optoelectronic materials and components, specializing in polarizers and polarizing coiled materials used as key components in liquid crystal display (LCD) panels. Its product portfolio includes optical structure embossing adhesive and transparent adhesive for mini LEDs, optical adhesive and film applications, and polarizers designed for handheld devices, automotive and public displays, desktop LCDs, mobile device displays, and energy-saving applications. The company also provides chemical products such as optical pressure sensitive adhesives (PSA). Cheng Mei operates primarily in Taiwan and Mainland China, serving the electronics, automotive, and public display industries. Founded in 2005, the company is headquartered in Tainan City, Taiwan, and maintains four front-end production lines in Taiwan as well as a wholly-owned subsidiary, Ningbo Cheng Mei Materials Technology Co., Ltd., overseas. In the last one to two years, Cheng Mei has focused on transitioning toward high-value and differentiated polarizer products, expanding into automotive, OLED, slim products, medical care, industrial control, and privacy protection display fields. The company has actively invested in semiconductor-related product development to establish new growth drivers and has pursued strategic cooperation and joint development to diversify its material offerings. This strategic shift aims at increasing production value, stabilizing revenue under market pressures, and enhancing its competitive positioning. Despite slight revenue declines amid challenging market conditions, Cheng Mei has succeeded in reducing losses and growing its high-value product proportion. Its latest operational strategies since 2022 include product structure adjustment, strengthening new customer acquisition, and continuous innovation in high-performance automotive polarizers and semiconductor products.