Changing Information Technology Inc.

NT$88.50As of Sun 8 Nov 2026, 12:00 UTC

TPEx:8272Technology

Country Taiwan

PE (Fwd) 18.81

TSR 3Y CAGR 6.24%

Div yield —

ROE 14.75%

Software (Infrastructure)

Beta (5Y) —

PE TTM 19.47

TSR TTM 3.50%

Mkt cap NT$1.681B

ROIC 21.24%

SE Grade™

Value

Quality

Moat

1Y Price

Reference

NT$93

4.82%

5.67%

Price near Reference Value

TTM

FYE 31 Dec TWD

FY2021

FY2022

FY2023

FY2024

FY2025

FY2026E

Trend

10Y

Peers

480.6

RevenueNT$M

—

420.7

421.8

412.8

478.2

487.4

4.36%

—

Revenue growth%

—

0.25

(2.13)

15.86

1.91

0.25

—

74.17

Gross margin%

—

77.16

76.95

75.83

74.56

74.16

76.39

—

20.45

Operating margin%

—

24.35

22.37

20.05

21.44

20.39

21.91

—

18.12

Net margin%

—

19.69

19.30

17.17

18.50

18.11

18.90

—

19.47

P/E ratio (avg)x

—

17.57

28.04

18.84

19.29

18.84

—

15.55

EV/EBITx

—

14.00

21.76

14.77

15.40

14.77

—

5.18

FCF yield (avg)%

—

4.91

5.43

7.61

5.15

5.43

—

18.28

FCF margin%

—

27.22

16.66

26.12

26.51

18.00

26.32

—

1.009

FCF / Net incomex

—

1.382

0.863

1.521

1.433

0.994

1.408

—

21.24

ROIC%

—

51.58

37.80

24.09

21.48

30.95

—

14.75

Return on equity%

—

22.45

20.89

14.42

14.88

14.41

17.88

—

10.20

Return on assets%

—

14.29

12.99

8.99

10.29

9.83

11.64

—

4.54

EPSNT$

—

4.70

4.60

3.98

4.60

4.59

(0.72%)

—

EPS growth%

—

(2.10)

(13.41)

15.43

(0.25)

(2.10)

—

30.81

Bookvalue per shNT$

—

20.94

23.20

32.21

32.02

33.00

15.22%

—

4.58

FCF per shareNT$

—

6.50

3.97

6.06

6.59

4.56

0.48%

—

Dividend per shNT$

—

Div yield (avg)%

—

Payout ratio%

—

19.00

Shares (diluted)M

—

17.63

17.69

17.79

19.23

◌19.23

2.95%

—

Buyback yield%

—

(0.36)

(0.55)

(8.11)

◌—

(0.55)

—

D/E ratiox

—

0.022

—

0.014

—

0.011

—

1.528

Enterprise valueNT$B

—

1.320

1.801

1.515

1.530

7.12%

—

LT debtNT$M

—

Peers (US$50.67M)

Cap (US$)

Taiwan Auto-Design Co.

53.27M

17.89x

Intumit, Inc.

51.70M

16.59x

Hyweb Technology Co.…

50.63M

7.797x

Xplus S.A.

52.06M

18.98x

Capital

TTM

10Y

Leveragex

(1.200)

(1.459)

EBIT/Intx

581.4

360.6

Own earn%

—

Sh yield%

—

(0.55)

Owners

Insiders/Inst%

17.15

—

Short interest%

—

SBC / revenue%

—

Record

10Y

Profitable years

4/4

Revenue growth years

2/3

EPS growth years

1/3

Dividend streakyrs

Op margin range%

20–24

$1 testx

—

Incr. ROIC%

—

Changing Information Technology Inc. provides digital authentication and cybersecurity solutions. The company offers zero-trust digital authentication systems, Fintech security solutions, and digital transformation applications. The company is headquartered in Hsinchu City, Taiwan.

Growth vs revenue

Latest

Trend

3Y CAGR

Rel growth

Revenue

NT$478.2M

4.36%

1.00×

Cost of revenue

NT$121.7M

8.19%

1.11×

Operating expenses

NT$254.0M

4.57%

1.01×

Asset mix

Trend

Other

82.03%

Cash and investments

17.97%

Reinvestment returns

5Y median

Trend

Reinvestment rate

(5.44%)

Return on capital

30.95%

Spread over hurdle

26.13%