Income Statement GTM Holdings Corporation

Stocks

1437

TW0001437002

Real Estate Development & Operations

End-of-day quote Taiwan S.E. 2026-09-01			5-day change	1st Jan Change
31.95 ^TWD	-0.16%		+0.63%	-7.53%

08-13	GTM Holdings Corporation Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2026	CI
05-11	GTM Holdings Corporation Reports Earnings Results for the First Quarter Ended March 31, 2026	CI

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Published financial data: GTM HOLDINGS CORPORATION

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021 (TWD)	2022 (TWD)	2023 (TWD)	2024 (TWD)	2025 (TWD)
Revenues	698M	802M	864M	846M	927M
Total Revenues	698M	802M	864M	846M	927M
Cost of Goods Sold, Total	222M	316M	326M	348M	422M
Gross Profit	476M	486M	538M	498M	505M
Selling General & Admin Expenses, Total	108M	69.95M	93.25M	118M	95.72M
Provision for Bad Debts	-1.79M	-96K	-	-	-
Other Operating Expenses, Total	106M	69.85M	93.25M	118M	95.72M
Operating Income	370M	416M	445M	380M	409M
Interest Expense, Total	-51.39M	-65.52M	-88.21M	-91.65M	-98.08M
Interest And Investment Income	7.31M	19.64M	42.48M	32.9M	23.17M
Net Interest Expenses	-44.08M	-45.88M	-45.72M	-58.75M	-74.9M
Income (Loss) On Equity Invest.	71.88M	123M	161M	151M	193M
Currency Exchange Gains (Loss)	-4.32M	12.65M	12.12M	41.79M	-23.04M
Other Non Operating Income (Expenses)	2.49M	1.7M	122K	3.08M	148K
EBT, Excl. Unusual Items	396M	508M	572M	517M	505M
Gain (Loss) On Sale Of Investments	92.48M	-39.65M	78.1M	130M	63.47M
Gain (Loss) On Sale Of Assets	34.58M	153K	123K	-1M	-
Other Unusual Items	121K	-96K	-	-	-
EBT, Incl. Unusual Items	523M	468M	650M	646M	568M
Income Tax Expense	64.57M	61.41M	75.82M	-15.52M	78.65M
Earnings From Continuing Operations	458M	407M	574M	662M	490M
Earnings Of Discontinued Operations	-	-	-	-	-
Net Income to Company	458M	407M	574M	662M	490M
Minority Interest	38K	716K	-322K	-291K	-453K
Net Income - (IS)	458M	407M	574M	661M	489M
Net Income to Common Incl Extra Items	458M	407M	574M	661M	489M
Net Income to Common Excl. Extra Items	458M	407M	574M	661M	489M
Per Share Items
Net EPS - Basic	2.25	2	2.82	3.25	2.41
Basic EPS - Continuing Operations	2.25	2	2.82	3.25	2.41
Basic Weighted Average Shares Outstanding	203M	203M	203M	203M	203M
Net EPS - Diluted	2.25	2	2.81	3.24	2.4
Diluted EPS - Continuing Operations	2.25	2	2.81	3.24	2.4
Diluted Weighted Average Shares Outstanding	204M	204M	204M	204M	204M
Normalized Basic EPS	1.22	1.56	1.76	1.59	1.55
Normalized Diluted EPS	1.21	1.56	1.75	1.58	1.55
Dividend Per Share	0.9	0.8	1.13	1.35	0.96
Payout Ratio	31.06	44.92	28.36	34.75	56.11
Supplemental Items
EBITDA	472M	521M	553M	520M	590M
EBITA	370M	416M	445M	380M	409M
EBIT	370M	416M	445M	380M	409M
EBITDAR	-	-	-	-	-
Total Revenues (As Reported)	-	-	-	-	-
Effective Tax Rate - (Ratio)	12.35	13.12	11.67	-2.4	13.84
Total Current Taxes	71.55M	63.51M	79.06M	6.75M	58.31M
Total Deferred Taxes	-6.99M	-2.1M	-3.23M	-22.28M	20.34M
Normalized Net Income	247M	318M	357M	323M	315M
Interest on Long-Term Debt	-	-	-	-	-
Supplemental Operating Expense Items
Selling and Marketing Expenses	13.52M	10.91M	11.71M	12.12M	11.98M
General and Administrative Expenses	94.28M	59.04M	81.55M	106M	83.74M
Net Rental Expense, Total	-	-	-	-	-
Imputed Operating Lease Interest Expense	-	-	-	-	-
Imputed Operating Lease Depreciation	-	-	-	-	-

Fiscal Period: December	2021 (TWD)	2022 (TWD)	2023 (TWD)	2024 (TWD)	2025 (TWD)
Assets
Cash And Equivalents	949M	870M	749M	678M	613M
Short Term Investments	-	632M	620M	1.02B	845M
Trading Asset Securities, Total	436M	533M	599M	677M	792M
Total Cash And Short Term Investments	1.39B	2.03B	1.97B	2.37B	2.25B
Accounts Receivable, Total	15.13M	17.48M	16.17M	35.96M	24.72M
Other Receivables	14.36M	5.29M	32.4M	36.1M	32.99M
Notes Receivable	-	-	-	-	-
Total Receivables	29.49M	22.78M	48.58M	72.06M	57.71M
Inventory	196M	79.99M	39.89M	42.72M	1.74M
Other Current Assets, Total	185M	15.44M	7.62M	11.96M	13.82M
Total Current Assets	1.8B	2.15B	2.06B	2.5B	2.32B
Gross Property Plant And Equipment	4.85M	6.56M	6.63M	84.37M	123M
Accumulated Depreciation	-3.48M	-3.84M	-4.4M	-5M	-9.34M
Net Property Plant And Equipment	1.37M	2.72M	2.23M	79.37M	114M
Long-term Investments	1.71B	1.94B	2.39B	2.71B	2.95B
Accounts Receivable Long-Term	81.17M	111M	137M	165M	186M
Deferred Tax Assets Long-Term	61.52M	63.37M	31.23M	53.36M	35.93M
Other Long-Term Assets, Total	8.3B	8.31B	8.28B	8.25B	8.09B
Total Assets	11.95B	12.58B	12.9B	13.75B	13.7B
Liabilities
Accounts Payable, Total	91.01M	20.71M	7.59M	19.19M	7.99M
Short-term Borrowings	297M	781M	1.49B	882M	880M
Current Portion of Long-Term Debt	37.5M	55M	2.02B	10M	106M
Current Income Taxes Payable	46.72M	40.08M	46.34M	69.1M	30.9M
Other Current Liabilities	127M	104M	152M	164M	236M
Total Current Liabilities	600M	1B	3.72B	1.14B	1.26B
Long-Term Debt	3.64B	3.58B	735M	3.51B	3.41B
Deferred Tax Liability Non Current	427M	426M	391M	391M	394M
Other Non Current Liabilities	494M	466M	415M	385M	366M
Total Liabilities	5.15B	5.47B	5.27B	5.43B	5.43B
Common Stock, Total	2.03B	2.03B	2.03B	2.03B	2.03B
Additional Paid In Capital	254M	254M	344M	356M	412M
Retained Earnings	4.16B	4.39B	4.8B	5.24B	5.42B
Treasury Stock	-	-	-	-	-46.29M
Comprehensive Income and Other	339M	432M	462M	684M	444M
Total Common Equity	6.79B	7.11B	7.64B	8.31B	8.26B
Minority Interest	1.56M	848K	1.11M	1.4M	1.85M
Total Equity	6.79B	7.11B	7.64B	8.32B	8.27B
Total Liabilities And Equity	11.95B	12.58B	12.9B	13.75B	13.7B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	203M	203M	203M	203M	202M
ECS Total Common Shares Outstanding	203M	203M	203M	203M	202M
Book Value / Share	33.39	34.95	37.55	40.88	40.92
Tangible Book Value	6.79B	7.11B	7.64B	8.31B	8.26B
Tangible Book Value Per Share	33.39	34.95	37.55	40.88	40.92
Total Debt	3.97B	4.42B	4.25B	4.4B	4.4B
Net Debt	2.58B	2.38B	2.29B	2.03B	2.15B
Debt Equivalent Oper. Leases	-	-	-	-	-
Minority Interest, Total (Incl. Fin. Div)	1.56M	848K	1.11M	1.4M	1.85M
Equity Method Investments, Total	763M	850M	1.07B	1.24B	1.43B
Account Code - Inventory Valuation	6	3	-	6	6
Inventories - Raw Materials, Total	1.44M	5.5M	578K	1.95M	793K
Inventories - Work In Process, Total	680K	330K	2.28M	199K	116K
Inventories - Finished Goods, Total	194M	74.16M	37.04M	40.57M	826K
Inventories - Others	-	-	-	-	-
Buildings, Total	-	-	-	-	-
Machinery, Total	4.85M	6.56M	6.63M	6.98M	94.68M
Accumulated Allowance for Doubtful Accounts (Supple)	1.54M	1.44M	-	-	-

Fiscal Period: December	2021 (TWD)	2022 (TWD)	2023 (TWD)	2024 (TWD)	2025 (TWD)
Net Income	458M	407M	574M	661M	489M
Depreciation & Amortization - CF	103M	105M	108M	140M	180M
Depreciation & Amortization, Total	103M	105M	108M	140M	180M
(Gain) Loss From Sale Of Asset	-34.58M	-153K	-123K	-2.32M	-
(Gain) Loss on Sale of Investments - (CF)	-92.48M	39.65M	-78.1M	-130M	-63.47M
(Income) Loss On Equity Investments - (CF)	-71.88M	-123M	-161M	-151M	-193M
Provision and Write-off of Bad Debts	-1.79M	-96K	-	-	-
Net Cash From Discontinued Operations	-	-	-	-	-
Other Operating Activities, Total	-22.56M	-9.58M	34.95M	5.23M	15.58M
Change in Trading Asset Securities	9.88M	-85.19M	-156M	-116M	-207M
Change In Accounts Receivable	-19.69M	-32.79M	-25.12M	-47.27M	-9.95M
Change In Inventories	-188M	116M	40.1M	-2.82M	40.98M
Change In Accounts Payable	87.94M	-86.4M	-1.91M	16.41M	-9.39M
Change in Other Net Operating Assets	26.31M	10.4M	16.16M	16.36M	-22.44M
Cash from Operations	254M	341M	351M	389M	220M
Capital Expenditure	-276K	-23.99M	-469K	-77.77M	-38.48M
Sale of Property, Plant, and Equipment	1K	-	143K	1.66M	-
Divestitures	30.01M	-	-	-	-
Sale (Purchase) of Real Estate properties	-437M	-99.62M	-74.29M	-105M	-3.39M
Investment in Marketable and Equity Securities, Total	-40.26M	-626M	-43.09M	-206M	90.74M
Other Investing Activities, Total	341K	-152K	-17K	53K	-
Cash from Investing	-447M	-750M	-118M	-387M	48.87M
Short Term Debt Issued, Total	297M	1.54B	1.45B	625M	1.64B
Long-Term Debt Issued, Total	330M	-	-	2.79B	38.91M
Total Debt Issued	627M	1.54B	1.45B	3.41B	1.67B
Short Term Debt Repaid, Total	-265M	-1.06B	-739M	-1.24B	-1.64B
Long-Term Debt Repaid, Total	-44M	-37.5M	-875M	-2.02B	-45M
Total Debt Repaid	-309M	-1.1B	-1.61B	-3.26B	-1.68B
Repurchase of Common Stock	-	-	-	-	-46.29M
Common Dividends Paid	-142M	-183M	-163M	-230M	-275M
Common & Preferred Stock Dividends Paid	-142M	-183M	-163M	-230M	-275M
Other Financing Activities, Total	-71.03M	-8K	-22.54M	-8.75M	-6.82M
Cash from Financing	105M	263M	-348M	-88.18M	-335M
Foreign Exchange Rate Adjustments	-22.55M	66.23M	-6.95M	15.1M	1.42M
Net Change in Cash	-111M	-79.08M	-122M	-70.72M	-64.52M
Supplemental Items
Cash Interest Paid	51.4M	65.23M	87.36M	67.15M	98.16M
Cash Income Tax Paid (Refund)	93.27M	73.48M	72.8M	9.11M	99.26M
Levered Free Cash Flow	191M	492M	394M	258M	412M
Unlevered Free Cash Flow	223M	533M	449M	315M	474M
Change In Net Working Capital	111M	-192M	-63.6M	-15.46M	-75.91M
Net Debt Issued / Repaid	318M	446M	-163M	150M	-7.59M

Fiscal Period: December	2021 (TWD)	2022 (TWD)	2023 (TWD)	2024 (TWD)	2025 (TWD)
Profitability
Return on Assets	1.99	2.12	2.18	1.78	1.86
Return on Total Capital	2.22	2.34	2.37	1.93	2.02
Return On Equity %	6.95	5.85	7.79	8.29	5.91
Return on Common Equity	6.95	5.86	7.78	8.29	5.9
Margin Analysis
Gross Profit Margin %	68.15	60.63	62.28	58.85	54.51
SG&A Margin	15.44	8.72	10.8	13.97	10.33
EBITDA Margin %	67.67	65.01	64.03	61.45	63.65
EBITA Margin %	52.96	51.92	51.48	44.88	44.18
EBIT Margin %	52.96	51.92	51.48	44.88	44.18
Income From Continuing Operations Margin %	65.65	50.73	66.47	78.23	52.85
Net Income Margin %	65.66	50.82	66.44	78.19	52.8
Net Avail. For Common Margin %	65.66	50.82	66.44	78.19	52.8
Normalized Net Income Margin	35.43	39.67	41.34	38.14	34.01
Levered Free Cash Flow Margin	27.33	61.34	45.64	30.48	44.51
Unlevered Free Cash Flow Margin	31.93	66.44	52.03	37.25	51.12
Asset Turnover
Asset Turnover	0.06	0.07	0.07	0.06	0.07
Fixed Assets Turnover	213.27	392.3	348.95	20.73	9.61
Receivables Turnover (Average Receivables)	59.65	49.18	51.32	32.45	30.54
Inventory Turnover (Average Inventory)	2.18	2.29	5.43	8.43	18.97
Short Term Liquidity
Current Ratio	2.99	2.15	0.55	2.18	1.84
Quick Ratio	2.36	2.06	0.54	2.13	1.83
Operating Cash Flow to Current Liabilities	0.42	0.34	0.09	0.34	0.17
Days Sales Outstanding (Average Receivables)	6.12	7.42	7.11	11.28	11.95
Days Outstanding Inventory (Average Inventory)	167.3	159.52	67.16	43.44	19.24
Average Days Payable Outstanding	42.63	102.07	18.08	13.97	13.03
Cash Conversion Cycle (Average Days)	130.79	64.87	56.19	40.75	18.16
Long Term Solvency
Total Debt/Equity	58.44	62.13	55.68	52.95	53.18
Total Debt / Total Capital	36.88	38.32	35.77	34.62	34.72
LT Debt/Equity	53.52	50.37	9.62	42.23	41.25
Long-Term Debt / Total Capital	33.78	31.07	6.18	27.61	26.93
Total Liabilities / Total Assets	43.15	43.5	40.81	39.51	39.64
EBIT / Interest Expense	7.19	6.35	5.04	4.14	4.17
EBITDA / Interest Expense	9.19	7.96	6.27	5.67	6.01
(EBITDA - Capex) / Interest Expense	9.19	7.59	6.26	4.82	5.62
Total Debt / EBITDA	8.4	8.47	7.69	8.47	7.45
Net Debt / EBITDA	5.47	4.57	4.13	3.91	3.64
Total Debt / (EBITDA - Capex)	8.41	8.88	7.7	9.96	7.97
Net Debt / (EBITDA - Capex)	5.47	4.79	4.14	4.6	3.89
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	15.31	14.87	7.71	-2.07	9.57
Gross Profit, 1 Yr. Growth %	5.96	2.2	10.64	-7.47	1.48
EBITDA, 1 Yr. Growth %	2.36	10.36	6.09	-6.01	13.48
EBITA, 1 Yr. Growth %	-0.78	12.6	6.83	-14.63	7.85
EBIT, 1 Yr. Growth %	-0.78	12.6	6.83	-14.63	7.85
Earnings From Cont. Operations, 1 Yr. Growth %	28.38	-11.24	41.14	15.24	-25.98
Net Income, 1 Yr. Growth %	28.05	-11.09	40.81	15.26	-26.01
Normalized Net Income, 1 Yr. Growth %	2.46	28.6	12.26	-9.63	-2.31
Diluted EPS Before Extra, 1 Yr. Growth %	28.57	-11.11	40.5	15.3	-25.93
Accounts Receivable, 1 Yr. Growth %	82.79	15.57	-7.51	122.36	-31.24
Inventory, 1 Yr. Growth %	2.4K	-59.18	-50.13	7.07	-95.94
Net Property, Plant and Equip., 1 Yr. Growth %	-73.58	98.83	-18.01	3.46K	43.01
Total Assets, 1 Yr. Growth %	6.32	5.3	2.57	6.54	-0.37
Tangible Book Value, 1 Yr. Growth %	6.15	4.65	7.46	8.87	-0.6
Common Equity, 1 Yr. Growth %	6.15	4.65	7.46	8.87	-0.6
Cash From Operations, 1 Yr. Growth %	-13.15	34.36	2.88	10.88	-43.38
Capital Expenditures, 1 Yr. Growth %	-93.28	8.59K	-98.04	16.48K	-50.53
Levered Free Cash Flow, 1 Yr. Growth %	53.35	157.84	-19.84	-34.6	59.98
Unlevered Free Cash Flow, 1 Yr. Growth %	42.94	139.06	-15.65	-29.88	50.35
Dividend Per Share, 1 Yr. Growth %	28.57	-11.11	41.25	19.47	-28.62
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	9.58	15.09	11.23	2.7	3.59
Gross Profit, 2 Yr. CAGR %	11	4.06	6.34	1.18	-3.1
EBITDA, 2 Yr. CAGR %	25.28	6.29	8.2	-0.14	3.28
EBITA, 2 Yr. CAGR %	30.48	5.7	9.67	-4.5	-4.05
EBIT, 2 Yr. CAGR %	30.48	5.7	9.67	-4.5	-4.05
Earnings From Cont. Operations, 2 Yr. CAGR %	24.77	6.75	11.93	27.54	-7.64
Net Income, 2 Yr. CAGR %	-27.89	6.7	11.89	27.4	-7.66
Normalized Net Income, 2 Yr. CAGR %	29.54	14.79	20.14	0.72	-6.05
Diluted EPS Before Extra, 2 Yr. CAGR %	28.84	6.9	11.75	27.28	-7.58
Accounts Receivable, 2 Yr. CAGR %	23.89	45.35	3.39	43.41	23.65
Inventory, 2 Yr. CAGR %	202.83	219.16	-54.88	-26.93	-79.15
Net Property, Plant and Equip., 2 Yr. CAGR %	-43.18	-27.52	27.68	440.18	613.43
Total Assets, 2 Yr. CAGR %	4.05	5.81	3.93	4.54	3.03
Tangible Book Value, 2 Yr. CAGR %	2.35	5.4	6.05	8.16	4.03
Common Equity, 2 Yr. CAGR %	2.35	5.4	6.05	8.16	4.03
Cash From Operations, 2 Yr. CAGR %	-4.22	8.02	17.57	6.8	-20.76
Capital Expenditures, 2 Yr. CAGR %	-67.41	141.71	30.36	80.06	805.74
Levered Free Cash Flow, 2 Yr. CAGR %	-33.02	98.85	43.76	-27.6	2.29
Unlevered Free Cash Flow, 2 Yr. CAGR %	-30.35	84.85	41.99	-23.09	2.68
Dividend Per Share, 2 Yr. CAGR %	-	6.9	12.05	29.9	-7.66
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	6.18	11.32	12.57	6.61	4.94
Gross Profit, 3 Yr. CAGR %	5.15	7.98	6.21	1.52	1.28
EBITDA, 3 Yr. CAGR %	7.64	20.09	6.21	3.24	4.21
EBITA, 3 Yr. CAGR %	6.2	24.23	6.07	0.88	-0.55
EBIT, 3 Yr. CAGR %	6.2	24.23	6.07	0.88	-0.55
Earnings From Cont. Operations, 3 Yr. CAGR %	22.95	11.38	17.16	13.02	6.38
Net Income, 3 Yr. CAGR %	22.5	-22.68	17.03	13	6.29
Normalized Net Income, 3 Yr. CAGR %	9.96	29.23	13.93	9.26	-0.3
Diluted EPS Before Extra, 3 Yr. CAGR %	22.97	13.85	17.1	12.92	6.27
Accounts Receivable, 3 Yr. CAGR %	-15.09	21.05	25.02	33.46	12.24
Inventory, 3 Yr. CAGR %	56.2	55.27	71.9	-39.82	-72.11
Net Property, Plant and Equip., 3 Yr. CAGR %	-40.39	-13.73	-24.48	287.13	246.85
Total Assets, 3 Yr. CAGR %	4.91	4.47	4.72	4.79	2.87
Tangible Book Value, 3 Yr. CAGR %	5.59	3.11	6.08	6.98	5.16
Common Equity, 3 Yr. CAGR %	5.59	3.11	6.08	6.98	5.16
Cash From Operations, 3 Yr. CAGR %	-14.34	7.22	6.28	15.3	-13.56
Capital Expenditures, 3 Yr. CAGR %	35.89	109.77	-51.48	555.6	17.05
Levered Free Cash Flow, 3 Yr. CAGR %	-2.16	4.98	46.89	10.56	-5.7
Unlevered Free Cash Flow, 3 Yr. CAGR %	-2.16	5.06	42.31	12.23	-3.84
Dividend Per Share, 3 Yr. CAGR %	-	-	17.31	14.47	6.4
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	3.83	8.04	8.17	7.79	8.89
Gross Profit, 5 Yr. CAGR %	5.08	4.97	5.62	5.21	2.39
EBITDA, 5 Yr. CAGR %	8.38	8.28	7.87	11.55	5.03
EBITA, 5 Yr. CAGR %	7.92	7.63	7.57	11.82	1.9
EBIT, 5 Yr. CAGR %	7.92	7.63	7.57	11.82	1.9
Earnings From Cont. Operations, 5 Yr. CAGR %	1.26	5.93	18.41	17.58	6.53
Net Income, 5 Yr. CAGR %	1.25	5.58	18.14	-5.58	6.45
Normalized Net Income, 5 Yr. CAGR %	11.79	7.87	13.92	16.96	5.48
Diluted EPS Before Extra, 5 Yr. CAGR %	1.53	6.06	18.35	19.04	6.52
Accounts Receivable, 5 Yr. CAGR %	-12.86	-2.97	-8.13	29.54	24.47
Inventory, 5 Yr. CAGR %	36.91	14.06	-4.95	14.86	-26.06
Net Property, Plant and Equip., 5 Yr. CAGR %	-36.66	-26.13	-19.15	79.69	85.42
Total Assets, 5 Yr. CAGR %	4.95	5.55	4.52	4.49	4.04
Tangible Book Value, 5 Yr. CAGR %	6.2	5.77	5.77	5.1	5.26
Common Equity, 5 Yr. CAGR %	6.2	5.77	5.77	5.1	5.26
Cash From Operations, 5 Yr. CAGR %	77.84	13.9	-2.77	7.05	-5.5
Capital Expenditures, 5 Yr. CAGR %	-41.78	28.59	33.65	97.34	56.44
Levered Free Cash Flow, 5 Yr. CAGR %	-20.82	18.99	14.12	-9.52	27.09
Unlevered Free Cash Flow, 5 Yr. CAGR %	-19.51	16.53	13.56	-7.27	24.89
Dividend Per Share, 5 Yr. CAGR %	-	-	-	-	6.6