Pan-International Industrial Corp
TWSE:2328

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Pan-International Industrial Corp Logo
Pan-International Industrial Corp
TWSE:2328
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Price: 49.55 TWD -0.3% Market Closed
Market Cap: 25.7B TWD
Financials Section:
Income Statement Balance Sheet Cash Flow Statement

Income Statement

Revenue
+
3Y
-13%
5Y
+6%
10Y
+22%
Operating Income
+
3Y
-21%
5Y
+62%
10Y
+536%
Net Income
+
3Y
-25%
5Y
+82%
10Y
+286%

Earnings Waterfall
Pan-International Industrial Corp

Revenue
22.5B TWD
Cost of Revenue
-19.8B TWD
Gross Profit
2.7B TWD
Operating Expenses
-1.5B TWD
Operating Income
1.2B TWD
Other Expenses
-269m TWD
Net Income
936m TWD

Income Statement
Pan-International Industrial Corp

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Income Statement
Currency: TWD
Dec-2008 Mar-2009 Jun-2009 Sep-2009 Dec-2009 Mar-2010 Jun-2010 Sep-2010 Dec-2010 Mar-2011 Jun-2011 Sep-2011 Dec-2011 Mar-2012 Jun-2012 Sep-2012 Dec-2012 Mar-2013 Jun-2013 Sep-2013 Dec-2013 Mar-2014 Jun-2014 Sep-2014 Dec-2014 Mar-2015 Jun-2015 Sep-2015 Dec-2015 Mar-2016 Jun-2016 Sep-2016 Dec-2016 Mar-2017 Jun-2017 Sep-2017 Dec-2017 Mar-2018 Jun-2018 Sep-2018 Dec-2018 Mar-2019 Jun-2019 Sep-2019 Dec-2019 Mar-2020 Jun-2020 Sep-2020 Dec-2020 Mar-2021 Jun-2021 Sep-2021 Dec-2021 Mar-2022 Jun-2022 Sep-2022 Dec-2022 Mar-2023 Jun-2023 Sep-2023 Dec-2023 Mar-2024 Jun-2024 Sep-2024 Dec-2024 Mar-2025 Jun-2025 Sep-2025
Revenue
Interest Expense
53
54
52
47
42
40
37
41
44
42
41
41
42
45
56
63
69
75
73
72
71
71
62
50
39
29
27
25
22
20
19
17
15
13
16
18
21
28
25
31
35
47
57
57
58
48
48
42
35
27
14
13
13
12
18
26
41
66
75
71
60
47
51
60
66
61
47
42
Revenue
18 055
N/A
16 639
-8%
15 950
-4%
15 056
-6%
14 199
-6%
15 160
+7%
15 593
+3%
15 816
+1%
15 601
-1%
16 067
+3%
16 102
+0%
15 948
-1%
15 579
-2%
15 958
+2%
16 053
+1%
16 629
+4%
17 523
+5%
16 444
-6%
16 130
-2%
15 526
-4%
15 460
0%
16 011
+4%
16 523
+3%
17 178
+4%
17 181
+0%
17 032
-1%
17 888
+5%
18 443
+3%
18 934
+3%
18 880
0%
18 374
-3%
17 779
-3%
18 412
+4%
20 249
+10%
22 036
+9%
24 715
+12%
26 238
+6%
26 754
+2%
27 146
+1%
27 207
+0%
27 161
0%
26 985
-1%
27 058
+0%
26 657
-1%
25 601
-4%
24 808
-3%
23 094
-7%
21 318
-8%
20 548
-4%
20 707
+1%
21 023
+2%
22 513
+7%
24 226
+8%
25 316
+4%
26 275
+4%
25 857
-2%
26 257
+2%
26 376
+0%
26 381
+0%
26 783
+2%
25 634
-4%
24 211
-6%
23 440
-3%
22 566
-4%
21 821
-3%
22 878
+5%
23 164
+1%
22 525
-3%
Gross Profit
Cost of Revenue
(16 443)
(15 217)
(14 598)
(13 620)
(12 870)
(13 740)
(14 116)
(14 403)
(14 024)
(14 600)
(14 691)
(14 658)
(14 510)
(14 821)
(14 779)
(15 028)
(15 477)
(14 351)
(14 174)
(13 720)
(13 968)
(14 542)
(14 986)
(15 637)
(15 732)
(15 775)
(16 635)
(17 064)
(17 378)
(17 132)
(16 675)
(16 284)
(16 954)
(18 744)
(20 298)
(22 637)
(24 052)
(24 514)
(24 897)
(24 846)
(24 808)
(24 783)
(24 768)
(24 181)
(23 242)
(22 546)
(21 008)
(19 382)
(18 403)
(18 239)
(18 401)
(19 964)
(21 577)
(22 576)
(23 481)
(22 941)
(22 978)
(22 894)
(22 922)
(23 371)
(22 459)
(21 294)
(20 389)
(19 412)
(18 874)
(19 849)
(20 205)
(19 791)
Gross Profit
1 612
N/A
1 422
-12%
1 352
-5%
1 437
+6%
1 329
-7%
1 419
+7%
1 477
+4%
1 414
-4%
1 577
+12%
1 467
-7%
1 410
-4%
1 290
-9%
1 068
-17%
1 137
+6%
1 274
+12%
1 601
+26%
2 046
+28%
2 093
+2%
1 956
-7%
1 807
-8%
1 492
-17%
1 469
-2%
1 537
+5%
1 541
+0%
1 449
-6%
1 257
-13%
1 253
0%
1 379
+10%
1 556
+13%
1 748
+12%
1 699
-3%
1 495
-12%
1 458
-2%
1 505
+3%
1 738
+15%
2 077
+20%
2 186
+5%
2 239
+2%
2 250
+0%
2 360
+5%
2 352
0%
2 202
-6%
2 290
+4%
2 476
+8%
2 359
-5%
2 262
-4%
2 086
-8%
1 936
-7%
2 145
+11%
2 468
+15%
2 622
+6%
2 549
-3%
2 649
+4%
2 741
+3%
2 795
+2%
2 916
+4%
3 280
+12%
3 482
+6%
3 459
-1%
3 411
-1%
3 175
-7%
2 917
-8%
3 051
+5%
3 154
+3%
2 947
-7%
3 028
+3%
2 959
-2%
2 734
-8%
Operating Income
Operating Expenses
(882)
(827)
(849)
(877)
(805)
(889)
(950)
(984)
(1 115)
(1 105)
(1 111)
(1 153)
(1 001)
(1 011)
(1 045)
(1 089)
(1 146)
(1 163)
(1 138)
(1 167)
(1 206)
(1 235)
(1 205)
(1 162)
(1 149)
(1 154)
(1 204)
(1 190)
(1 237)
(1 302)
(1 285)
(1 287)
(1 334)
(1 340)
(1 264)
(1 341)
(1 135)
(1 056)
(1 075)
(1 027)
(1 140)
(1 216)
(1 209)
(1 205)
(1 165)
(1 107)
(1 174)
(1 191)
(1 220)
(1 273)
(1 209)
(1 209)
(1 267)
(1 311)
(1 352)
(1 388)
(1 459)
(1 518)
(1 558)
(1 563)
(1 574)
(1 594)
(1 635)
(1 684)
(1 665)
(1 614)
(1 560)
(1 528)
Selling, General & Administrative
(850)
(780)
(802)
(829)
(771)
(853)
(915)
(950)
(1 082)
(1 071)
(1 077)
(1 114)
(969)
(979)
(1 000)
(1 032)
(1 064)
(1 063)
(1 029)
(1 051)
(1 083)
(1 106)
(1 073)
(1 020)
(1 000)
(1 003)
(1 046)
(1 030)
(1 074)
(1 055)
(1 113)
(1 107)
(1 147)
(1 150)
(1 073)
(1 149)
(941)
(860)
(871)
(810)
(902)
(962)
(939)
(930)
(891)
(847)
(917)
(932)
(953)
(985)
(918)
(893)
(920)
(944)
(964)
(988)
(1 042)
(1 084)
(1 107)
(1 108)
(1 096)
(1 100)
(1 132)
(1 175)
(1 212)
(1 184)
(1 153)
(1 119)
Research & Development
(31)
(30)
(30)
(31)
(35)
(37)
(35)
(34)
(33)
(34)
(34)
(40)
(32)
(32)
(46)
(57)
(82)
(100)
(109)
(116)
(123)
(129)
(132)
(142)
(149)
(151)
(158)
(160)
(163)
(167)
(172)
(180)
(187)
(190)
(191)
(193)
(195)
(196)
(204)
(217)
(238)
(254)
(270)
(276)
(274)
(261)
(257)
(259)
(267)
(208)
(211)
(236)
(347)
(367)
(389)
(400)
(417)
(434)
(452)
(455)
(477)
(494)
(503)
(509)
(453)
(430)
(408)
0
Other Operating Expenses
0
(17)
(17)
(17)
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
(80)
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
(81)
(81)
(81)
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
(409)
Operating Income
730
N/A
595
-18%
503
-16%
560
+11%
524
-6%
530
+1%
527
-1%
430
-18%
462
+8%
362
-22%
299
-17%
137
-54%
68
-50%
126
+85%
229
+82%
512
+124%
901
+76%
930
+3%
818
-12%
640
-22%
286
-55%
233
-18%
332
+42%
379
+14%
300
-21%
103
-66%
49
-52%
189
+283%
319
+69%
446
+40%
414
-7%
208
-50%
124
-40%
166
+34%
473
+186%
736
+56%
1 051
+43%
1 184
+13%
1 175
-1%
1 333
+13%
1 212
-9%
985
-19%
1 082
+10%
1 270
+17%
1 194
-6%
1 155
-3%
912
-21%
745
-18%
925
+24%
1 194
+29%
1 413
+18%
1 340
-5%
1 382
+3%
1 430
+3%
1 442
+1%
1 527
+6%
1 821
+19%
1 964
+8%
1 901
-3%
1 848
-3%
1 601
-13%
1 323
-17%
1 417
+7%
1 469
+4%
1 282
-13%
1 414
+10%
1 398
-1%
1 205
-14%
Pre-Tax Income
Interest Income Expense
324
321
328
220
181
167
144
78
68
66
81
95
109
61
52
16
(94)
(79)
(153)
(82)
141
187
426
505
372
402
261
322
366
280
1 544
1 430
1 482
1 524
206
149
(22)
(117)
165
368
492
532
356
278
279
380
315
132
150
102
93
193
80
135
172
293
129
56
162
58
211
284
156
(23)
41
20
(34)
0
Non-Reccuring Items
(17)
0
0
0
0
0
0
0
0
0
0
(69)
(69)
(69)
(113)
(44)
(44)
(54)
(10)
(10)
(79)
(139)
(280)
(280)
(211)
(141)
0
0
(80)
0
(390)
(390)
(297)
(294)
16
16
3
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Gain/Loss on Disposition of Assets
0
0
0
0
0
0
0
0
0
0
0
(53)
(43)
(43)
0
13
(41)
(41)
(52)
(48)
(6)
(4)
7
3
0
2
2
0
0
0
0
0
0
0
0
0
0
0
0
0
0
145
0
145
(25)
(170)
(175)
(170)
(10)
(3)
(1)
(5)
(5)
(14)
(9)
(9)
(25)
(14)
(19)
(20)
(9)
(9)
(8)
(10)
(7)
(3)
(2)
0
Total Other Income
28
30
21
28
54
52
73
88
82
90
105
77
90
111
47
121
78
51
247
290
349
340
135
93
128
138
142
130
127
106
80
97
138
159
197
181
92
63
49
43
56
73
224
84
82
71
111
124
128
124
79
73
92
100
101
104
132
120
132
116
38
61
76
91
150
125
98
213
Pre-Tax Income
1 065
N/A
947
-11%
852
-10%
807
-5%
758
-6%
748
-1%
744
-1%
596
-20%
612
+3%
518
-15%
485
-6%
187
-62%
155
-17%
187
+21%
215
+15%
618
+187%
799
+29%
807
+1%
851
+5%
790
-7%
690
-13%
617
-11%
620
+0%
700
+13%
589
-16%
503
-15%
454
-10%
642
+41%
732
+14%
831
+14%
1 648
+98%
1 345
-18%
1 447
+8%
1 555
+7%
892
-43%
1 082
+21%
1 124
+4%
1 129
+0%
1 389
+23%
1 745
+26%
1 760
+1%
1 736
-1%
1 661
-4%
1 777
+7%
1 530
-14%
1 435
-6%
1 165
-19%
830
-29%
1 193
+44%
1 417
+19%
1 585
+12%
1 600
+1%
1 549
-3%
1 650
+7%
1 706
+3%
1 915
+12%
2 056
+7%
2 126
+3%
2 176
+2%
2 003
-8%
1 842
-8%
1 658
-10%
1 640
-1%
1 528
-7%
1 466
-4%
1 557
+6%
1 461
-6%
1 418
-3%
Net Income
Tax Provision
(227)
(232)
(154)
(148)
(5)
6
(50)
(46)
(142)
(139)
(136)
(195)
(209)
(219)
(207)
(158)
(218)
(212)
(261)
(270)
(202)
(196)
(174)
(156)
(211)
(213)
(190)
(209)
(257)
(257)
(269)
(236)
(180)
(193)
(215)
(249)
(272)
(282)
(308)
(413)
(411)
(384)
(395)
(414)
(377)
(388)
(328)
(269)
(403)
(435)
(462)
(476)
(387)
(406)
(445)
(437)
(490)
(502)
(487)
(473)
(352)
(310)
(322)
(294)
(265)
(285)
(255)
(335)
Income from Continuing Operations
838
715
698
659
754
754
694
550
470
379
349
(8)
(54)
(32)
8
460
581
595
590
520
489
421
446
545
378
291
263
432
475
574
1 378
1 109
1 267
1 362
677
833
852
847
1 081
1 332
1 349
1 352
1 266
1 363
1 153
1 047
836
561
790
982
1 122
1 124
1 163
1 244
1 261
1 479
1 566
1 624
1 689
1 530
1 490
1 349
1 318
1 234
1 201
1 271
1 206
1 082
Income to Minority Interest
(157)
(147)
(140)
(129)
(119)
(125)
(121)
(125)
(139)
(138)
(154)
(169)
(188)
(179)
(180)
(167)
(179)
(178)
(174)
(187)
(163)
(180)
(175)
(168)
(168)
(165)
(170)
(190)
(191)
(198)
(180)
(141)
(169)
(164)
(175)
(162)
(161)
(149)
(144)
(193)
(163)
(137)
(131)
(144)
(124)
(115)
(75)
(47)
(127)
(168)
(233)
(239)
(195)
(228)
(210)
(226)
(244)
(223)
(231)
(235)
(233)
(219)
(236)
(193)
(165)
(190)
(158)
(150)
Net Income (Common)
681
N/A
568
-17%
557
-2%
530
-5%
635
+20%
629
-1%
573
-9%
425
-26%
330
-22%
241
-27%
195
-19%
(177)
N/A
(242)
-37%
(211)
+13%
(172)
+19%
292
N/A
402
+37%
416
+4%
415
0%
333
-20%
325
-2%
241
-26%
270
+12%
377
+39%
209
-44%
126
-40%
94
-26%
242
+159%
284
+17%
376
+32%
1 199
+219%
968
-19%
1 099
+13%
1 198
+9%
503
-58%
671
+33%
691
+3%
698
+1%
937
+34%
1 139
+22%
1 185
+4%
1 215
+3%
1 136
-7%
1 219
+7%
1 029
-16%
932
-9%
761
-18%
514
-32%
663
+29%
814
+23%
889
+9%
885
0%
967
+9%
1 016
+5%
1 051
+3%
1 253
+19%
1 322
+6%
1 401
+6%
1 458
+4%
1 295
-11%
1 257
-3%
1 130
-10%
1 082
-4%
1 041
-4%
1 037
0%
1 083
+4%
1 051
-3%
936
-11%
EPS (Diluted)
1.32
N/A
1.1
-17%
1.08
-2%
1.03
-5%
1.23
+19%
1.22
-1%
1.11
-9%
0.82
-26%
0.64
-22%
0.46
-28%
0.37
-20%
-0.35
N/A
-0.47
-34%
-0.42
+11%
-0.34
+19%
0.56
N/A
0.78
+39%
0.81
+4%
0.8
-1%
0.64
-20%
0.63
-2%
0.45
-29%
0.51
+13%
0.72
+41%
0.4
-44%
0.24
-40%
0.18
-25%
0.47
+161%
0.55
+17%
0.73
+33%
2.33
+219%
1.88
-19%
2.14
+14%
2.32
+8%
0.96
-59%
1.28
+33%
1.33
+4%
1.33
N/A
1.79
+35%
2.18
+22%
2.27
+4%
2.33
+3%
2.18
-6%
2.34
+7%
1.97
-16%
1.79
-9%
1.46
-18%
0.99
-32%
1.27
+28%
1.57
+24%
1.71
+9%
1.7
-1%
1.86
+9%
1.95
+5%
2.02
+4%
2.41
+19%
2.54
+5%
2.69
+6%
2.8
+4%
2.49
-11%
2.41
-3%
2.17
-10%
2.08
-4%
2
-4%
1.99
-1%
2.07
+4%
2.01
-3%
1.79
-11%

See Also

Summary
Intrinsic value, competitors valuation, and company profile.
DCF Valuation
Stock valuation using Discount Cash Flow valuation method.
Relative Valuation
Stock valuation using valuation multiples.
Wall Street Estimates
Price targets and financial estimates made by Wall st analysts.
Profitability Analysis
Detailed analysis of the company's profitability.
Solvency Analysis
Analysis of the financial position and solvency of the company.
Financials
Income Statement, Balance Sheet, Cash Flow Statement.
Discount Rate
Stock discount rate: cost of equity and WACC.
Summary
DCF Valuation
Relative Valuation
Wall Street Estimates
Profitability Analysis
Solvency Analysis
Financials
Discount Rate
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