Income Statement Zenitron Corporation

Stocks

3028

TW0003028007

Semiconductors

End-of-day quote Taiwan S.E. 2026-10-06			5-day change	1st Jan Change
62.70 ^TWD	-1.10%		0.00%	+67.87%

08-10	Zenitron Corporation Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2026	CI
05-13	Zenitron Corporation Reports Earnings Results for the First Quarter Ended March 31, 2026	CI

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Published financial data: ZENITRON CORPORATION

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021 (TWD)	2022 (TWD)	2023 (TWD)	2024 (TWD)	2025 (TWD)
Revenues	42.04B	40.02B	32.57B	36.44B	41.45B
Total Revenues	42.04B	40.02B	32.57B	36.44B	41.45B
Cost of Goods Sold, Total	39.56B	37.3B	30.18B	34.16B	38.42B
Gross Profit	2.49B	2.73B	2.39B	2.28B	3.03B
Selling General & Admin Expenses, Total	1.42B	1.51B	1.47B	1.53B	1.74B
Provision for Bad Debts	-	-	-3.14M	10.07M	-18.32M
Other Operating Expenses, Total	1.42B	1.51B	1.47B	1.54B	1.72B
Operating Income	1.06B	1.21B	922M	736M	1.31B
Interest Expense, Total	-116M	-321M	-472M	-422M	-395M
Interest And Investment Income	23.3M	19.85M	43.9M	35.76M	31.17M
Net Interest Expenses	-93.02M	-301M	-428M	-387M	-364M
Currency Exchange Gains (Loss)	76.32M	-59.42M	44.05M	155M	-137M
Other Non Operating Income (Expenses)	37.15M	52M	63.84M	65.25M	101M
EBT, Excl. Unusual Items	1.08B	906M	602M	569M	908M
Gain (Loss) On Sale Of Investments	-3.99M	880K	2.83M	1.19M	10.44M
Gain (Loss) On Sale Of Assets	-	-91K	-209K	-243K	149K
Asset Writedown	-	-	-	15.41M	-
Other Unusual Items	132K	-	-	-	-
EBT, Incl. Unusual Items	1.08B	907M	605M	586M	919M
Income Tax Expense	203M	192M	149M	96.53M	171M
Earnings From Continuing Operations	878M	715M	456M	489M	748M
Net Income to Company	878M	715M	456M	489M	748M
Minority Interest	-	-	-	-	-
Net Income - (IS)	878M	715M	456M	489M	748M
Net Income to Common Incl Extra Items	878M	715M	456M	489M	748M
Net Income to Common Excl. Extra Items	878M	715M	456M	489M	748M
Per Share Items
Net EPS - Basic	4.1	3.3	2.03	2.08	3.15
Basic EPS - Continuing Operations	4.1	3.3	2.03	2.08	3.15
Basic Weighted Average Shares Outstanding	214M	217M	224M	235M	237M
Net EPS - Diluted	3.94	3.03	1.93	2.06	3.14
Diluted EPS - Continuing Operations	3.94	3.03	1.93	2.06	3.14
Diluted Weighted Average Shares Outstanding	224M	238M	238M	238M	238M
Normalized Basic EPS	3.17	2.61	1.68	1.51	2.39
Normalized Diluted EPS	3.03	2.38	1.58	1.49	2.38
Dividend Per Share	3.5	2.91	1.97	2.1	3
Payout Ratio	46.29	104.73	144.83	85.87	66.65
Supplemental Items
EBITDA	1.09B	1.24B	947M	767M	1.35B
EBITA	1.07B	1.22B	927M	748M	1.33B
EBIT	1.06B	1.21B	922M	736M	1.31B
EBITDAR	1.11B	1.25B	960M	776M	1.35B
Effective Tax Rate - (Ratio)	18.79	21.19	24.63	16.48	18.64
Total Current Taxes	217M	281M	103M	93.42M	145M
Total Deferred Taxes	-14.42M	-88.72M	45.6M	3.11M	25.95M
Normalized Net Income	678M	566M	376M	356M	568M
Interest on Long-Term Debt	6.76M	9.39M	7.43M	4.32M	3.02M
Non-Cash Pension Expense	197K	519K	597K	787K	715K
Supplemental Operating Expense Items
Selling and Marketing Expenses	1.07B	1.12B	1.09B	1.15B	1.3B
General and Administrative Expenses	353M	394M	382M	379M	444M
Net Rental Expense, Total	15.15M	11.19M	13.1M	8.89M	6.72M
Imputed Operating Lease Interest Expense	1.39M	2.45M	4.4M	3.22M	2.13M
Imputed Operating Lease Depreciation	13.76M	8.74M	8.7M	5.68M	4.59M

Fiscal Period: December	2021 (TWD)	2022 (TWD)	2023 (TWD)	2024 (TWD)	2025 (TWD)
Assets
Cash And Equivalents	1.62B	1.37B	1.49B	1.72B	2.51B
Short Term Investments	727K	810K	790K	1.4M	1.03M
Trading Asset Securities, Total	23M	20.26M	35.76M	42.95M	160M
Total Cash And Short Term Investments	1.64B	1.4B	1.52B	1.76B	2.67B
Accounts Receivable, Total	9.59B	7.6B	8.45B	9.1B	10.44B
Other Receivables	110M	74.86M	111M	55.65M	56.01M
Total Receivables	9.7B	7.68B	8.57B	9.16B	10.49B
Inventory	8.66B	11.1B	9.39B	7.55B	8.7B
Other Current Assets, Total	148M	236M	236M	80.43M	356M
Total Current Assets	20.14B	20.4B	19.72B	18.55B	22.22B
Gross Property Plant And Equipment	890M	865M	930M	926M	928M
Accumulated Depreciation	-401M	-419M	-433M	-445M	-449M
Net Property Plant And Equipment	489M	446M	497M	481M	479M
Long-term Investments	974M	612M	627M	637M	501M
Deferred Tax Assets Long-Term	81.45M	168M	125M	125M	96.45M
Other Long-Term Assets, Total	103M	101M	111M	125M	134M
Total Assets	21.79B	21.73B	21.08B	19.92B	23.43B
Liabilities
Accounts Payable, Total	4.62B	2.57B	4.41B	4.03B	4.81B
Short-term Borrowings	10.3B	12.06B	9.73B	8.67B	11.09B
Current Portion of Long-Term Debt	-	-	108M	5.52M	-
Current Portion of Leases	42.73M	23.87M	36.61M	47.37M	35.89M
Current Income Taxes Payable	158M	158M	105M	34.07M	98.95M
Unearned Revenue Current, Total	80.17M	85.6M	156M	89.02M	338M
Other Current Liabilities	501M	672M	528M	580M	554M
Total Current Liabilities	15.7B	15.56B	15.08B	13.45B	16.93B
Long-Term Debt	578M	456M	-	29.48M	-
Long-Term Leases	21.31M	2.26M	50.92M	21.82M	31.74M
Pension & Other Post Retirement Benefits	-	-	60.81M	51.5M	46.04M
Deferred Tax Liability Non Current	116M	114M	116M	121M	118M
Other Non Current Liabilities	80.89M	76.06M	4.63M	2.87M	2.87M
Total Liabilities	16.49B	16.21B	15.31B	13.68B	17.13B
Common Stock, Total	2.14B	2.18B	2.28B	2.37B	2.37B
Additional Paid In Capital	1.04B	1.12B	1.33B	1.35B	1.35B
Retained Earnings	1.83B	1.96B	1.84B	1.99B	2.29B
Comprehensive Income and Other	284M	259M	314M	525M	292M
Total Common Equity	5.29B	5.52B	5.77B	6.24B	6.3B
Minority Interest	-	-	-	-	-
Total Equity	5.29B	5.52B	5.77B	6.24B	6.3B
Total Liabilities And Equity	21.79B	21.73B	21.08B	19.92B	23.43B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	214M	218M	233M	237M	237M
ECS Total Common Shares Outstanding	214M	218M	233M	237M	237M
Book Value / Share	24.75	25.28	24.79	26.29	26.57
Tangible Book Value	5.29B	5.52B	5.77B	6.24B	6.3B
Tangible Book Value Per Share	24.75	25.28	24.79	26.29	26.57
Total Debt	10.94B	12.54B	9.93B	8.77B	11.16B
Net Debt	9.3B	11.14B	8.4B	7.01B	8.48B
Debt Equivalent of Unfunded Proj. Benefit Obligation	74.31M	71.1M	60.81M	51.5M	46.04M
Debt Equivalent Oper. Leases	121M	89.53M	105M	71.15M	53.78M
Minority Interest, Total (Incl. Fin. Div)	-	-	-	-	-
Account Code - Inventory Valuation	6	6	6	6	6
Inventories - Raw Materials, Total	515M	513M	512M	609M	331M
Inventories - Finished Goods, Total	8.73B	11.68B	9.93B	8.1B	9.13B
Land - (BS)	253M	253M	253M	253M	253M
Buildings, Total	409M	410M	408M	411M	411M
Machinery, Total	167M	177M	182M	196M	199M
Accumulated Allowance for Doubtful Accounts (Supple)	78.58M	74.8M	67.24M	78.38M	57.19M

Fiscal Period: December	2021 (TWD)	2022 (TWD)	2023 (TWD)	2024 (TWD)	2025 (TWD)
Net Income	878M	715M	456M	489M	748M
Depreciation & Amortization - CF	64.7M	65.36M	62.51M	65.66M	73.79M
Amortization of Goodwill and Intangible Assets - (CF)	4.21M	4.56M	4.79M	12.09M	17.4M
Depreciation & Amortization, Total	68.92M	69.93M	67.3M	77.75M	91.19M
(Gain) Loss From Sale Of Asset	351K	91K	209K	-15.17M	-149K
(Gain) Loss on Sale of Investments - (CF)	3.99M	-880K	-2.83M	-1.19M	-10.44M
Provision and Write-off of Bad Debts	-23.12M	-2.4M	-3.14M	10.07M	-18.32M
Other Operating Activities, Total	70.83M	-72.52M	-95.27M	-19.38M	67.61M
Change in Trading Asset Securities	-1.68M	4M	-11.7M	-978K	-100M
Change In Accounts Receivable	-197M	1.99B	-849M	-658M	-1.32B
Change In Inventories	-2.28B	-2.44B	1.7B	1.84B	-1.15B
Change In Accounts Payable	213M	-2.05B	1.85B	-379M	782M
Change in Other Net Operating Assets	-4.67M	88.11M	-62.12M	127M	-68.33M
Cash from Operations	-1.27B	-1.7B	3.05B	1.47B	-972M
Capital Expenditure	-8.53M	-12.4M	-9.33M	-21.53M	-22.34M
Sale of Property, Plant, and Equipment	71K	171K	-	-	767K
Sale (Purchase) of Real Estate properties	-	-	-	-	-
Investment in Marketable and Equity Securities, Total	-1.85M	242M	97.85M	100M	57.7M
Other Investing Activities, Total	15.32M	8.83M	11.43M	7.72M	-4.59M
Cash from Investing	5.01M	239M	99.96M	86.38M	31.54M
Short Term Debt Issued, Total	1.08B	1.76B	137K	1.1M	3.22B
Long-Term Debt Issued, Total	650M	-	-	35M	-
Total Debt Issued	1.73B	1.76B	137K	36.1M	3.22B
Short Term Debt Repaid, Total	-	-	-2.33B	-1.07B	-799M
Long-Term Debt Repaid, Total	-41.79M	-47.94M	-43.02M	-44.98M	-87.5M
Total Debt Repaid	-41.79M	-47.94M	-2.37B	-1.11B	-887M
Common Dividends Paid	-406M	-748M	-660M	-420M	-498M
Common & Preferred Stock Dividends Paid	-406M	-748M	-660M	-420M	-498M
Other Financing Activities, Total	2.15M	-	-	-46.69M	-
Cash from Financing	1.28B	964M	-3.03B	-1.54B	1.84B
Foreign Exchange Rate Adjustments	-80.35M	262M	-7.03M	213M	-98.72M
Net Change in Cash	-61.03M	-241M	112M	231M	797M
Supplemental Items
Cash Interest Paid	115M	281M	484M	420M	382M
Cash Income Tax Paid (Refund)	113M	293M	206M	102M	98.74M
Levered Free Cash Flow	-1.55B	-1.77B	2.87B	1.19B	-1.05B
Unlevered Free Cash Flow	-1.47B	-1.57B	3.17B	1.46B	-801M
Change In Net Working Capital	2.2B	2.39B	-2.53B	-941M	1.69B
Net Debt Issued / Repaid	1.69B	1.71B	-2.37B	-1.08B	2.33B

Fiscal Period: December	2021 (TWD)	2022 (TWD)	2023 (TWD)	2024 (TWD)	2025 (TWD)
Profitability
Return on Assets	3.24	3.49	2.69	2.24	3.77
Return on Total Capital	4.38	4.43	3.42	3	5.04
Return On Equity %	17.39	13.22	8.08	8.15	11.92
Return on Common Equity	17.39	13.22	8.08	8.15	11.92
Margin Analysis
Gross Profit Margin %	5.91	6.81	7.34	6.24	7.31
SG&A Margin	3.38	3.77	4.52	4.2	4.2
EBITDA Margin %	2.59	3.1	2.91	2.11	3.25
EBITA Margin %	2.54	3.05	2.85	2.05	3.2
EBIT Margin %	2.53	3.04	2.83	2.02	3.16
Income From Continuing Operations Margin %	2.09	1.79	1.4	1.34	1.8
Net Income Margin %	2.09	1.79	1.4	1.34	1.8
Net Avail. For Common Margin %	2.09	1.79	1.4	1.34	1.8
Normalized Net Income Margin	1.61	1.41	1.16	0.98	1.37
Levered Free Cash Flow Margin	-3.68	-4.42	8.82	3.27	-2.53
Unlevered Free Cash Flow Margin	-3.5	-3.92	9.73	4	-1.93
Asset Turnover
Asset Turnover	2.05	1.84	1.52	1.78	1.91
Fixed Assets Turnover	81.88	85.65	69.08	74.52	86.37
Receivables Turnover (Average Receivables)	4.44	4.66	4.06	4.15	4.24
Inventory Turnover (Average Inventory)	5.26	3.78	2.95	4.03	4.73
Short Term Liquidity
Current Ratio	1.28	1.31	1.31	1.38	1.31
Quick Ratio	0.72	0.58	0.67	0.81	0.78
Operating Cash Flow to Current Liabilities	-0.08	-0.11	0.2	0.11	-0.06
Days Sales Outstanding (Average Receivables)	82.28	78.38	89.96	88.18	86.02
Days Outstanding Inventory (Average Inventory)	69.36	96.64	123.88	90.76	77.17
Average Days Payable Outstanding	39.37	33	44.71	47.81	40.81
Cash Conversion Cycle (Average Days)	112.26	142.03	169.14	131.12	122.39
Long Term Solvency
Total Debt/Equity	206.7	227.11	172.14	140.63	177.01
Total Debt / Total Capital	67.4	69.43	63.25	58.44	63.9
LT Debt/Equity	11.32	8.31	0.88	0.82	0.5
Long-Term Debt / Total Capital	3.69	2.54	0.32	0.34	0.18
Total Liabilities / Total Assets	75.71	74.59	72.64	68.69	73.1
EBIT / Interest Expense	9.15	3.78	1.95	1.74	3.31
EBITDA / Interest Expense	9.74	4	2.1	1.93	3.54
(EBITDA - Capex) / Interest Expense	9.67	3.96	2.08	1.87	3.49
Total Debt / EBITDA	9.65	9.76	10.03	10.78	7.97
Net Debt / EBITDA	8.21	8.67	8.49	8.62	6.06
Total Debt / (EBITDA - Capex)	9.73	9.86	10.13	11.08	8.1
Net Debt / (EBITDA - Capex)	8.27	8.76	8.57	8.85	6.16
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	22.22	-4.81	-18.61	11.86	13.76
Gross Profit, 1 Yr. Growth %	53.4	9.58	-12.25	-4.84	33.18
EBITDA, 1 Yr. Growth %	139.74	13.69	-23.62	-18.94	75.63
EBITA, 1 Yr. Growth %	147.8	14.13	-23.96	-19.35	77.26
EBIT, 1 Yr. Growth %	149.24	14.15	-24.07	-20.24	77.81
Earnings From Cont. Operations, 1 Yr. Growth %	85.95	-18.59	-36.19	7.28	52.81
Net Income, 1 Yr. Growth %	85.95	-18.59	-36.19	7.28	52.81
Normalized Net Income, 1 Yr. Growth %	116.24	-16.51	-33.51	-5.47	59.51
Diluted EPS Before Extra, 1 Yr. Growth %	79.01	-23.03	-36.32	6.56	52.65
Accounts Receivable, 1 Yr. Growth %	2.35	-20.7	11.21	7.66	14.65
Inventory, 1 Yr. Growth %	35.72	28.19	-15.34	-19.62	15.2
Net Property, Plant and Equip., 1 Yr. Growth %	-9.23	-8.73	11.49	-3.3	-0.35
Total Assets, 1 Yr. Growth %	12.94	-0.25	-3.02	-5.5	17.63
Tangible Book Value, 1 Yr. Growth %	10.22	4.33	4.45	8.14	1.05
Common Equity, 1 Yr. Growth %	10.22	4.33	4.45	8.14	1.05
Cash From Operations, 1 Yr. Growth %	-47.97	34.28	-278.77	-51.64	-165.95
Capital Expenditures, 1 Yr. Growth %	-37.93	45.37	-24.75	130.81	3.73
Levered Free Cash Flow, 1 Yr. Growth %	-43.6	14.55	-262.37	-58.48	-187.81
Unlevered Free Cash Flow, 1 Yr. Growth %	-44.71	6.57	-301.94	-54.02	-154.95
Dividend Per Share, 1 Yr. Growth %	84.21	-16.74	-34.42	5	42.86
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	24.8	7.86	-11.98	-4.58	12.81
Gross Profit, 2 Yr. CAGR %	29.46	29.65	-1.94	-8.62	12.58
EBITDA, 2 Yr. CAGR %	62.07	65.1	-6.81	-21.31	19.32
EBITA, 2 Yr. CAGR %	65.48	68.17	-6.84	-21.69	19.57
EBIT, 2 Yr. CAGR %	66.13	68.67	-6.9	-22.18	19.09
Earnings From Cont. Operations, 2 Yr. CAGR %	95.1	23.04	-27.92	-17.26	28.04
Net Income, 2 Yr. CAGR %	95.1	23.04	-27.92	-17.26	28.04
Normalized Net Income, 2 Yr. CAGR %	91.8	34.39	-25.49	-20.72	22.79
Diluted EPS Before Extra, 2 Yr. CAGR %	91.1	17.38	-29.99	-17.63	27.54
Accounts Receivable, 2 Yr. CAGR %	15.78	-9.91	-6.09	9.42	11.1
Inventory, 2 Yr. CAGR %	43.82	31.9	4.17	-17.51	-3.77
Net Property, Plant and Equip., 2 Yr. CAGR %	1.88	-8.98	0.87	3.83	-1.84
Total Assets, 2 Yr. CAGR %	23.75	6.14	-1.64	-4.27	5.44
Tangible Book Value, 2 Yr. CAGR %	9.6	7.24	4.39	6.28	4.54
Common Equity, 2 Yr. CAGR %	9.6	7.24	4.39	6.28	4.54
Cash From Operations, 2 Yr. CAGR %	-25.14	-16.42	54.94	-7.02	-43.53
Capital Expenditures, 2 Yr. CAGR %	-28.36	-5.01	4.59	31.79	54.73
Levered Free Cash Flow, 2 Yr. CAGR %	-15.68	-19.62	36.38	-17.9	-39.62
Unlevered Free Cash Flow, 2 Yr. CAGR %	-19.89	-23.24	46.7	-3.63	-49.73
Dividend Per Share, 2 Yr. CAGR %	87.06	23.84	-25.03	-16.33	22.47
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	10.6	14.03	-1.8	-4.66	1.18
Gross Profit, 3 Yr. CAGR %	11.11	22.46	13.83	-2.92	3.6
EBITDA, 3 Yr. CAGR %	14.44	44	27.69	-11.04	2.83
EBITA, 3 Yr. CAGR %	15.16	46.2	29.08	-11.21	2.82
EBIT, 3 Yr. CAGR %	15.31	46.6	29.27	-11.58	2.5
Earnings From Cont. Operations, 3 Yr. CAGR %	28.98	45.79	-1.15	-17.71	1.51
Net Income, 3 Yr. CAGR %	29.23	45.79	-1.15	-17.71	1.51
Normalized Net Income, 3 Yr. CAGR %	25.04	45.38	6.29	-19.34	0.08
Diluted EPS Before Extra, 3 Yr. CAGR %	27.73	41.13	-4.27	-19.47	1.18
Accounts Receivable, 3 Yr. CAGR %	5.66	2.06	-3.36	-1.72	11.14
Inventory, 3 Yr. CAGR %	14.2	38.41	13.78	-4.45	-7.8
Net Property, Plant and Equip., 3 Yr. CAGR %	2.01	-1.79	-2.61	-0.54	2.42
Total Assets, 3 Yr. CAGR %	9.24	15.17	3	-2.94	2.54
Tangible Book Value, 3 Yr. CAGR %	6.62	7.82	6.3	5.63	4.51
Common Equity, 3 Yr. CAGR %	6.62	7.82	6.3	5.63	4.51
Cash From Operations, 3 Yr. CAGR %	-12.24	-9.04	7.69	5.1	-17.08
Capital Expenditures, 3 Yr. CAGR %	-16.16	-9.3	-12.11	36.17	21.68
Levered Free Cash Flow, 3 Yr. CAGR %	-7.83	-6.62	1.61	-8.26	-16.04
Unlevered Free Cash Flow, 3 Yr. CAGR %	-7.24	-11.89	5.97	-0.35	-20.09
Dividend Per Share, 3 Yr. CAGR %	27.22	42.83	1.17	-15.66	0
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	13.56	7.73	0.94	6.18	3.8
Gross Profit, 5 Yr. CAGR %	13.31	13.02	5.69	8.93	13.33
EBITDA, 5 Yr. CAGR %	23.57	18.69	5.41	13.08	24.27
EBITA, 5 Yr. CAGR %	24.92	19.62	5.79	13.9	25.19
EBIT, 5 Yr. CAGR %	25.37	19.9	5.85	13.79	25.1
Earnings From Cont. Operations, 5 Yr. CAGR %	24.57	10.59	2.2	16.23	9.63
Net Income, 5 Yr. CAGR %	24.57	10.56	2.32	16.23	9.63
Normalized Net Income, 5 Yr. CAGR %	25.74	12	1.66	14.07	12.61
Diluted EPS Before Extra, 5 Yr. CAGR %	23.7	8.46	0.42	13.79	7.37
Accounts Receivable, 5 Yr. CAGR %	12.33	3.74	0.79	4.94	2.18
Inventory, 5 Yr. CAGR %	15.94	14.79	10.08	12.53	6.4
Net Property, Plant and Equip., 5 Yr. CAGR %	-0.25	-1.23	1.55	0.42	-2.3
Total Assets, 5 Yr. CAGR %	11.43	7.69	4.75	6.96	3.97
Tangible Book Value, 5 Yr. CAGR %	2.2	2.92	5.72	7.2	5.59
Common Equity, 5 Yr. CAGR %	2.2	2.92	5.72	7.2	5.59
Cash From Operations, 5 Yr. CAGR %	8.69	12.11	10.17	-8.24	-16.81
Capital Expenditures, 5 Yr. CAGR %	-24.8	3.68	-8.4	5.32	10.21
Levered Free Cash Flow, 5 Yr. CAGR %	16.62	8.76	7.81	-11.3	-17.49
Unlevered Free Cash Flow, 5 Yr. CAGR %	14.21	7.56	11.43	-8.68	-21.36
Dividend Per Share, 5 Yr. CAGR %	18.47	9.87	2.96	15.99	9.57