Test Research, Inc. (TPE:3030)

Test Research Income Statement

Financials in millions TWD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Revenue	7,878	6,356	4,435	6,709	5,607	4,951
Revenue Growth (YoY)	27.71%	43.31%	-33.89%	19.66%	13.25%	12.85%
Cost of Revenue	3,281	2,572	1,804	2,860	2,559	2,235
Gross Profit	4,597	3,784	2,631	3,849	3,048	2,715
Selling, General & Admin	1,244	1,175	1,000	1,154	995.24	883.94
Research & Development	594.26	573	428.17	534.9	497.04	390.75
Operating Expenses	1,842	1,755	1,422	1,695	1,490	1,278
Operating Income	2,755	2,029	1,208	2,153	1,558	1,437
Interest Expense	-2.57	-2.83	-2.75	-2.33	-1.55	-1.37
Interest & Investment Income	16.74	15.66	14.28	9.08	8.07	7.72
Earnings From Equity Investments	-16.8	-13.04	-	-	-	-
Currency Exchange Gain (Loss)	-101.82	120.01	12.83	264.14	-37.35	-96.66
Other Non Operating Income (Expenses)	20.24	12.99	8.84	21.78	25.99	18.85
EBT Excluding Unusual Items	2,671	2,162	1,242	2,446	1,553	1,366
Gain (Loss) on Sale of Assets	32.07	15.56	13.68	7.7	4.24	7.38
Pretax Income	2,703	2,178	1,255	2,454	1,558	1,373
Income Tax Expense	383.39	341.15	253.98	532.36	372.45	280.59
Net Income	2,319	1,837	1,001	1,921	1,185	1,093
Net Income to Common	2,319	1,837	1,001	1,921	1,185	1,093
Net Income Growth	46.06%	83.43%	-47.89%	62.14%	8.46%	16.40%
Shares Outstanding (Basic)	236	236	236	236	236	236
Shares Outstanding (Diluted)	237	237	237	237	237	237
Shares Change (YoY)	0.01%	-0.03%	-0.10%	0.08%	0.01%	-0.05%
EPS (Basic)	9.82	7.78	4.24	8.13	5.02	4.63
EPS (Diluted)	9.80	7.76	4.23	8.11	5.01	4.62
EPS Growth	46.06%	83.45%	-47.84%	61.88%	8.44%	16.67%
Free Cash Flow	1,198	788.51	1,022	799.67	452.91	1,084
Free Cash Flow Per Share	5.07	3.33	4.32	3.38	1.91	4.58
Dividend Per Share	5.000	5.000	3.300	4.500	3.300	3.300
Dividend Growth	51.52%	51.52%	-26.67%	36.36%	-	-
Gross Margin	58.35%	59.54%	59.31%	57.37%	54.36%	54.85%
Operating Margin	34.97%	31.93%	27.25%	32.10%	27.79%	29.03%
Profit Margin	29.44%	28.90%	22.58%	28.64%	21.14%	22.07%
Free Cash Flow Margin	15.21%	12.41%	23.04%	11.92%	8.08%	21.90%
EBITDA	2,920	2,186	1,319	2,262	1,669	1,539
EBITDA Margin	37.06%	34.40%	29.75%	33.72%	29.76%	31.09%
D&A For EBITDA	164.61	156.87	111.09	108.89	110.59	102.08
EBIT	2,755	2,029	1,208	2,153	1,558	1,437
EBIT Margin	34.97%	31.93%	27.25%	32.10%	27.79%	29.03%
Effective Tax Rate	14.19%	15.67%	20.23%	21.70%	23.91%	20.43%

Source: S&P Global Market Intelligence. Standard template. Financial Sources.