WPG (TWSE:3702) Reports 2025 EPS of NT$5.77; Strong AI Demand Expected to Drive Q1 2026 EPS up to NT$2.5
WPG (TWSE:3702) Reports 2025 EPS of NT$5.77; Strong AI Demand Expected to Drive Q1 2026 EPS up to NT$2.5
2026/03/10
WPG reported fourth quarter 2025 revenue of NT$255.356 billion, representing a 4.5% quarter-over-quarter increase and a 10.3% year-over-year increase. Operating income reached NT$5.43 billion, up 40.4% year over year. Net income totaled NT$2.843 billion, a 75.2% increase year over year, with EPS of NT$1.7.
2025 revenue reached NT$999.111 billion, representing 13.5% growth compared with 2024. Operating income totaled NT$19.971 billion, an increase of 35.9% year over year. Net income was NT$10.105 billion, up 39.5% year over year, with EPS of NT$5.77.
In the fourth quarter of 2025, return on equity (ROE) and return on working capital (ROWC) were 13.7% and 11.5%, respectively.
The strong fourth quarter and full year performance was primarily driven by the rapid development of generative AI, which has boosted demand for AI infrastructure and end-user applications. This trend has accelerated procurement of both AI and traditional servers, power supplies, networking, and related electronic components. Overall shipments remained robust, resulting in double-digit year-over-year growth in both quarterly and full-year profitability.
For 2026 First quarter, based on an exchange rate assumption of NT$31.5 to the U.S. dollar, WPG forecasts revenue of NT$255 billion to NT$275 billion, gross margin of 4.15% to 4.35%, operating margin of 2.36% to 2.52%, net income of NT$3.616 billion to NT$4.201 billion, EPS of NT$2.15 to NT$2.5.
Table: WPG Holdings Ltd. Consolidated Financial Statements for the year ended December 31, 2025 (In brief)
Units：NT$million
|
Income Statement (year ended December 31, 2025) |
|
Balance Sheet (December 31, 2025) |
||
|
Item |
Amount |
|
Item |
Amount |
|
Operating revenues |
999,110 |
|
Current Assets |
364,595 |
|
Cost of Goods Sold |
(959,570) |
|
Accounts receivables |
165,488 |
|
Gross Profit |
39,540 |
|
Inventories |
142,686 |
|
Operating Expenses |
(19,569) |
|
Other assets |
46,377 |
|
Operating income |
19,971 |
|
Total Assets |
410,972 |
|
Non-op Expenses |
(6,315) |
|
Current Liabilities |
285,941 |
|
Profit Before Tax |
13,656 |
|
Current Borrowing |
114,545 |
|
Tax |
(3,110) |
|
Accounts payables |
119,836 |
|
Minority & Others |
(440) |
|
LT Liabilities |
35,967 |
|
Profit After tax |
10,105 |
|
Total Liabilities |
325,722 |
|
EPS - Common Stock (Note1) |
5.77 |
|
Common Stock |
16,791 |
|
Note1：Based on weighted average outstanding shares. |
|
Total Equity |
85,250 |
|
|
Cash Flow Statement (year ended December 31, 2025) |
|
|
Item |
Amount |
|
Income before Income Tax |
13,656 |
|
Change in NWC |
(3,669) |
|
Operating cash inflow /(outflow) |
22,216 |
|
Investment cash inflow /(outflow) |
(386) |
|
Change in Financial Debt |
(12,134) |
|
Cash Dividends |
(5,797) |
|
Financing cash inflow /(outflow) |
(18,401) |
|
Cumulative translation adjustments |
(3,762) |
|
Net Cash |
(333) |
|
Beginning cash balance |
22,688 |
|
Ending cash balance |
22,356 |
IR contacts：Cliff Yuan/ Zoe Peng
Tel：886-2-2191-0068 ext.85268/ext.85262
Email address: ir@WPGholdings.com
Corporate website: www.WPGholdings.com