Executive Summary
Nano Electronics And Micro System T reported Q3 2024 results characterized by a meaningful top-line contraction, with revenue of 142.085 million TWD, down 28.66% year-over-year but up 7.86% quarter-over-quarter. Despite the revenue weakness, the company sustained solid profitability metrics: gross margin of 40.74%, operating margin of 19.01%, and net margin of 16.74%. EBITDA stood at 30.42 million TWD, yielding an EBITDA margin of 21.41%, underscoring the business’s ability to scale earnings even as demand cyclicality weighs on absolute sales. Net income reached 23.78 million TWD, with diluted EPS of 0.81-0.82 TWD, reflecting disciplined cost control and favorable product mix.
The balance sheet presents a robust liquidity position and a conservative leverage profile. Cash and cash equivalents totaled 465.47 million TWD, with total cash and short-term investments around 470.92 million TWD. The company carries long-term debt of 144.31 million TWD and short-term debt of 17.62 million TWD (total debt 161.93 million TWD), resulting in a net debt position of approximately -303.55 million TWD. Free cash flow was strong at 45.34 million TWD, with net cash provided by operating activities of 45.68 million TWD. The company also paid a dividend of 28.86 million TWD during the period, illustrating a commitment to capital returns while preserving liquidity.
From an investment angle, the backdrop remains a mix of near-term softness in top-line growth and mid- to long-term margin resilience supported by a healthy cash-flow machine and a low-leverage balance sheet. The key questions for investors are the durability of the margins through an ongoing cyclicality in the semiconductor/PCB equipment cycle and the pace at which revenue can recover as capex cycles normalize.
Key Performance Indicators
QoQ: 16.74% | YoY:-25.34%
QoQ: 63.53% | YoY:-39.74%
QoQ: 20.72% | YoY:-34.04%
QoQ: 22.39% | YoY:-37.88%
Key Insights
Revenue and profitability trends (Q3 2024): Revenue 142.09m TWD, YoY -28.66%, QoQ +7.86%; Gross Profit 57.89m TWD, Gross Margin 40.74%, YoY -25.34%, QoQ +16.74%; Operating Income 27.01m TWD, Operating Margin 19.01%, YoY -39.74%, QoQ +63.53%; Net Income 23.78m TWD, Net Margin 16.74%, YoY -34.04%, QoQ +20.72%; EBITDA 30.42m TWD, EBITDA Margin 21.41%; EPS (diluted) 0.81-0.82 TWD, YoY EPS -37.88%, QoQ +22.39%; Weighted average shares outstanding ~29.36m....
Financial Highlights
Revenue and profitability trends (Q3 2024): Revenue 142.09m TWD, YoY -28.66%, QoQ +7.86%; Gross Profit 57.89m TWD, Gross Margin 40.74%, YoY -25.34%, QoQ +16.74%; Operating Income 27.01m TWD, Operating Margin 19.01%, YoY -39.74%, QoQ +63.53%; Net Income 23.78m TWD, Net Margin 16.74%, YoY -34.04%, QoQ +20.72%; EBITDA 30.42m TWD, EBITDA Margin 21.41%; EPS (diluted) 0.81-0.82 TWD, YoY EPS -37.88%, QoQ +22.39%; Weighted average shares outstanding ~29.36m.
Income Statement
| Metric |
Value |
YoY Change |
QoQ Change |
| Revenue |
142.09M |
-28.66% |
7.86% |
| Gross Profit |
57.89M |
-25.34% |
16.74% |
| Operating Income |
27.01M |
-39.74% |
63.53% |
| Net Income |
23.78M |
-34.04% |
20.72% |
| EPS |
0.82 |
-37.88% |
22.39% |
Management Commentary
N/A — Earnings call transcript data not provided in the supplied information.
Forward Guidance
No formal public guidance was included in the dataset. Given the cyclicality of semiconductor and PCB capital expenditure, the near-term revenue path is exposed to order flow and end-market demand. Monitoring points for the outlook include (1) cadence of semiconductor capex and PCB equipment refresh cycles, (2) product mix evolution toward higher-margin plasma and cleaning solutions, (3) progression of R&D investments and new product introductions, and (4) potential expansion in adjacent end-markets (industrial cleaning, air purification) that could support volume and margin stability.