Obermatt

WinWay Technology

TAI:6515 · TW0006515000
Semiconductors & Semiconductor EquipmentSmall

360

69
EV / EBIT3
Price / Owner Earnings7
Owner Earnings Yield31
Dividend Yield51
Price/Sales5
EV / Gross Profit8
Price/Book3
Return on Capital92
Cash Return on Capital94
Return on Equity94
EBIT Margin79
Gross Profitability65
Cash Conversion11
Accruals3
Owner Earnings Margin82
Sales growth83
Profit Growth49
Long-Term EPS Growth98
Owner Earnings Growth48
Reinvestment85
Price momentum99
Debt load29
Refinancing21
Debt Payback100
Liquidity94
Analyst ratings95
Opinion Changes50
Price Target Upside95
Market mood86
Value Creation14/20strong value creator
  • Creates more value than its capital costs
  • Owner earnings growing
  • Owner earnings per share growing
  • Reinvests at strong returns
  • Solid earnings base

What this means

WinWay Technology generates returns well above its cost of capital, the foundation of durable shareholder value.

Profile

CountryTaiwan
IndustrySemiconductors & Semiconductor Equipment
SizeSmall
TypePublic Company
ExchangeTWSE
Founded2001
Employees47
ISINTW0006515000
Last UpdateApr 2, 2026
Themes
SensorsIndustrial AutomationDetectors, Sensors and MemsApplication Specific Integrated Circuit ASICElectronicsHardwareManufacturing

Description

Analysis

Hope premium

WinWay Technology Co., Ltd. is priced well ahead of what the underlying numbers justify, a pattern we describe as a hope premium. Worth noting: the cash the business generates has lagged behind what the income statement shows.

On valuation, the picture is expensive. The owner-earnings multiple stands at 228.6×; owner earnings: the cash an owner could take out each year. The implied growth embedded in that price is around 40% a year, against analyst forecasts of 106%. The price, in other words, assumes less than the experts do.

Growth is solid; the safety picture is adequate. The company scores 14/20 on our value-creation score: strong value creator.

Flags to be aware of: Reported profits have run ahead of actual cash for several periods. As always: this describes the company's numbers; it is not a recommendation.

360° rank · history

1007550250
65
2023202420252026

All-time high

83

Jan 2025

All-time low

51

Jan 2023

Average rank

67

across all years

Detailed & Historical Ranks

Deep dive into 15 detailed ranks and 3 years of history.

Current202520242023
Price/Sales
5
15
20
31
Price/Earnings
10
34
40
43
Price/Book
3
9
11
30
Dividend Yield
51
55
60
62
Value (overall)
8
21
23
35

Cells are coloured by rank band (red weak → green strong). Sentiment & 360° history begins 2023.

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Make Sense of the Ranks

Every rank runs 1–100 against true peers. Higher is always better.

360° View
1 · Watch OutGood· 100
Value
1 · ExpensiveGood Value· 100
Quality
1 · Weak FundamentalsHigh Quality· 100
Growth
1 · Tough TimesHigh Growth· 100
Safety
1 · High LeverageWell-Financed· 100
Sentiment
1 · SkepticismPositive· 100
Learn More →