Test Research, Inc. (TPE:3030)

Test Research Income Statement

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

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Revenue	8,968	8,467	6,356	4,435	6,709	5,607
Revenue Growth (YoY)	32.17%	33.22%	43.31%	-33.89%	19.66%	13.25%
Cost of Revenue	3,674	3,527	2,572	1,804	2,860	2,559
Gross Profit	5,294	4,941	3,784	2,631	3,849	3,048
Selling, General & Admin	1,362	1,303	1,175	1,000	1,154	995.24
Research & Development	679.46	640.19	573	428.17	534.9	497.04
Operating Expenses	2,041	1,949	1,755	1,422	1,695	1,490
Operating Income	3,253	2,992	2,029	1,208	2,153	1,558
Interest Expense	-2.19	-2.47	-2.83	-2.75	-2.33	-1.55
Interest & Investment Income	14.57	14.94	15.66	14.28	9.08	8.07
Earnings From Equity Investments	-18.76	-17.04	-13.04	-	-	-
Currency Exchange Gain (Loss)	-46.91	-46.91	120.01	12.83	264.14	-37.35
Other Non Operating Income (Expenses)	63.27	24.56	12.99	8.84	21.78	25.99
EBT Excluding Unusual Items	3,263	2,965	2,162	1,242	2,446	1,553
Gain (Loss) on Sale of Assets	31.16	31.16	15.56	13.68	7.7	4.24
Pretax Income	3,294	2,996	2,178	1,255	2,454	1,558
Income Tax Expense	566.7	517.8	341.15	253.98	532.36	372.45
Net Income	2,727	2,479	1,837	1,001	1,921	1,185
Net Income to Common	2,727	2,479	1,837	1,001	1,921	1,185
Net Income Growth	39.21%	34.96%	83.43%	-47.89%	62.14%	8.46%
Shares Outstanding (Basic)	233	236	236	236	236	236
Shares Outstanding (Diluted)	233	237	237	237	237	237
Shares Change (YoY)	-1.44%	-0.02%	-0.03%	-0.10%	0.08%	0.01%
EPS (Basic)	11.71	10.49	7.78	4.24	8.13	5.02
EPS (Diluted)	11.70	10.48	7.76	4.23	8.11	5.01
EPS Growth	41.44%	35.05%	83.45%	-47.84%	61.88%	8.44%
Free Cash Flow	995.07	1,441	788.51	1,022	799.67	452.91
Free Cash Flow Per Share	4.27	6.09	3.33	4.32	3.38	1.91
Dividend Per Share	7.000	7.000	5.000	3.300	4.500	3.300
Dividend Growth	40.00%	40.00%	51.52%	-26.67%	36.36%	-
Gross Margin	59.03%	58.35%	59.54%	59.31%	57.37%	54.36%
Operating Margin	36.27%	35.34%	31.93%	27.25%	32.10%	27.79%
Profit Margin	30.41%	29.27%	28.90%	22.58%	28.64%	21.14%
Free Cash Flow Margin	11.09%	17.02%	12.41%	23.04%	11.92%	8.08%
EBITDA	3,420	3,158	2,186	1,319	2,262	1,669
EBITDA Margin	38.13%	37.30%	34.40%	29.75%	33.72%	29.76%
D&A For EBITDA	167.03	165.83	156.87	111.09	108.89	110.59
EBIT	3,253	2,992	2,029	1,208	2,153	1,558
EBIT Margin	36.27%	35.34%	31.93%	27.25%	32.10%	27.79%
Effective Tax Rate	17.20%	17.28%	15.67%	20.23%	21.70%	23.91%

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