Zen Voce Ratios and Metrics

Market cap in millions TWD. Fiscal year is January - December.

Millions TWD. Fiscal year is Jan - Dec.

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Apr '26 Apr 16, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Market Capitalization	6,070	3,713	2,509	1,311	1,117	1,403
Market Cap Growth	158.70%	47.97%	91.44%	17.35%	-20.36%	26.44%
Enterprise Value	5,921	3,572	2,430	1,222	1,148	1,342
Last Close Price	119.00	72.80	48.52	25.10	20.69	24.78
PE Ratio	147.79	90.41	81.39	46.98	17.41	13.03
PS Ratio	3.87	2.37	1.82	0.90	0.74	1.07
PB Ratio	5.75	3.52	2.47	1.34	1.14	1.50
P/TBV Ratio	7.40	4.53	3.17	1.70	1.40	1.83
P/FCF Ratio	972.55	594.98	79.92	7.96	10.10	12.78
P/OCF Ratio	496.70	303.87	66.72	7.72	5.88	11.10
EV/Sales Ratio	3.77	2.28	1.76	0.84	0.76	1.03
EV/EBITDA Ratio	44.26	27.97	31.21	15.06	6.68	8.43
EV/EBIT Ratio	52.80	31.77	42.24	17.55	7.21	9.02
EV/FCF Ratio	948.74	572.33	77.40	7.42	10.38	12.22
Debt / Equity Ratio	0.36	0.36	0.43	0.52	0.52	0.50
Debt / EBITDA Ratio	2.87	2.87	5.08	5.74	2.77	2.75
Debt / FCF Ratio	61.60	61.60	13.90	3.11	4.59	4.29
Net Debt / Equity Ratio	-0.30	-0.30	-0.29	-0.29	-0.16	-0.19
Net Debt / EBITDA Ratio	-2.51	-2.51	-3.81	-3.45	-0.93	-1.11
Net Debt / FCF Ratio	-51.34	-51.34	-9.44	-1.70	-1.44	-1.60
Asset Turnover	0.78	0.78	0.69	0.72	0.76	0.74
Inventory Turnover	1.82	1.82	1.63	1.79	1.66	1.88
Quick Ratio	1.23	1.23	1.10	1.10	0.98	1.16
Current Ratio	1.84	1.84	1.73	1.72	1.64	1.80
Return on Equity (ROE)	8.43%	8.43%	7.27%	6.16%	9.43%	13.91%
Return on Assets (ROA)	3.47%	3.47%	1.80%	2.16%	5.02%	5.23%
Return on Invested Capital (ROIC)	11.24%	11.07%	5.53%	6.09%	13.12%	14.94%
Return on Capital Employed (ROCE)	10.30%	10.30%	5.40%	6.70%	15.20%	14.80%
Earnings Yield	0.68%	1.11%	1.23%	2.13%	5.74%	7.68%
FCF Yield	0.10%	0.17%	1.25%	12.56%	9.90%	7.83%
Dividend Yield	0.42%	-	1.03%	1.99%	3.87%	4.04%
Payout Ratio	62.10%	62.10%	82.71%	146.23%	79.52%	42.63%
Total Shareholder Return	0.42%	-	1.03%	1.99%	3.87%	4.04%

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.