Hwatsing Technology - Public Comps and Valuation Multiples

Hwatsing Technology Overview

About Hwatsing Technology

Hwatsing Technology Co Ltd is engaged in research and development, production, sales, and technical services of semiconductor special equipment.

Founded

2013

HQ

Employees

1.9K+

Website

hwatsing.com

Sectors

Semiconductors
DeepTech

Financials

LTM Revenue $612M

LTM EBITDA $180M

EV

$6.5B

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Hwatsing Technology Financials

As of September 2025, Hwatsing Technology reported last 12-month revenue of $612M and EBITDA of $180M.

In the same period, Hwatsing Technology generated $275M in LTM gross profit and $178M in net income.

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Hwatsing Technology P&L

In the most recent fiscal year, Hwatsing Technology reported revenue of $478M and EBITDA of $171M.

Hwatsing Technology expects next 12-month revenue of XXX and NTM EBITDA of XXX

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	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue	$612M	XXX	$478M	XXX	XXX	XXX
Gross Profit	$275M	XXX	$206M	XXX	XXX	XXX
Gross Margin	45%	XXX	43%	XXX	XXX	XXX
EBITDA	$180M	XXX	$171M	XXX	XXX	XXX
EBITDA Margin	29%	XXX	36%	XXX	XXX	XXX
EBIT	$184M	XXX	$152M	XXX	XXX	XXX
EBIT Margin	30%	XXX	32%	XXX	XXX	XXX
Net Profit	$178M	XXX	$144M	XXX	XXX	XXX
Net Margin	29%	XXX	30%	XXX	XXX	XXX
Net Debt	XXX	XXX	n/a	XXX	XXX	XXX

Financial data powered by Morningstar, Inc.

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Financial performance metrics for Hwatsing Technology including revenue, profitability, and margin analysis across different time periods. The company reported last twelve months revenue of $612M. EBITDA for the last twelve months was $180M. In the most recent fiscal year, Hwatsing Technology achieved $478M in revenue and $171M in EBITDA.
Financial Metric	Last Twelve Months (LTM)	Next Twelve Months (NTM)	Most Recent Fiscal Year	Current Fiscal Year (2025)	Next Fiscal Year (2026)	Two Years Forward (2027)
Total Revenue	$612M	Analyst estimates available to subscribers	$478M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit	$275M	Analyst estimates available to subscribers	$206M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit Margin	44.9% gross margin	Analyst estimates available to subscribers	43.2% gross profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA (Earnings Before Interest, Taxes, Depreciation, Amortization)	$180M	Analyst estimates available to subscribers	$171M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA Margin	29.3% EBITDA margin	Analyst estimates available to subscribers	35.8% EBITDA margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT (Earnings Before Interest and Taxes)	$184M	Analyst estimates available to subscribers	$152M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT Margin	30.1% EBIT margin	Analyst estimates available to subscribers	31.8% EBIT margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Income (Net Profit)	$178M	Analyst estimates available to subscribers	$144M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Profit Margin	29.0% net profit margin	Analyst estimates available to subscribers	30.0% net profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Debt Position	Detailed debt information available to subscribers	Detailed debt information available to subscribers	n/a	Detailed debt information available to subscribers	Detailed debt information available to subscribers	Detailed debt information available to subscribers

Financial Performance Summary for Hwatsing Technology

This financial data table provides comprehensive performance metrics for Hwatsing Technology, a company based in China. The metrics include revenue, profitability measures, and operational efficiency indicators across multiple time periods.

Recent Performance Highlights

Hwatsing Technology generated $612M in revenue over the last twelve months.
The company achieved $180M in EBITDA over the last twelve months.
Gross profit for the last twelve months was $275M.
Net income over the last twelve months reached $178M.

Fiscal Year Performance

In the most recent fiscal year, Hwatsing Technology reported $478M in total revenue.
Fiscal year EBITDA was $171M.
The company maintained a gross profit margin of 43.2% in the most recent fiscal year.
EBITDA margin for the fiscal year was 35.8%.
Net profit margin reached 30.0% in the most recent fiscal year.

This financial data is sourced from Morningstar, Inc. and represents the most recent available information for Hwatsing Technology. Forward-looking estimates and detailed financial projections are available through our premium subscription service.

Hwatsing Technology Stock Performance

Hwatsing Technology has current market cap of CNY 50.2B (or $7.0B), and EV of CNY 46.3B (or $6.5B).

Market Cap Evolution

Hwatsing Technology Stock Data

As of October 17, 2025, Hwatsing Technology's stock price is CNY 142 (or $20).

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EV	Market Cap	Price 1D	Price 1M	Price 3M	Price 12M	EPS
$6.5B	$7.0B	XXX	XXX	XXX	XXX	$0.50

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Hwatsing Technology Valuation Multiples

Hwatsing Technology's trades at 13.6x EV/Revenue multiple, and 38.0x EV/EBITDA.

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Hwatsing Technology Financial Valuation Multiples

As of October 17, 2025, Hwatsing Technology has market cap of $7.0B and EV of $6.5B.

Equity research analysts estimate Hwatsing Technology's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX

Hwatsing Technology has a P/E ratio of 39.7x.

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Market cap (current)	$7.0B	XXX	$7.0B	XXX	XXX	XXX
EV (current)	$6.5B	XXX	$6.5B	XXX	XXX	XXX
EV/Revenue	10.6x	XXX	13.6x	XXX	XXX	XXX
EV/EBITDA	36.2x	XXX	38.0x	XXX	XXX	XXX
EV/EBIT	35.3x	XXX	42.8x	XXX	XXX	XXX
EV/Gross Profit	23.6x	XXX	n/a	XXX	XXX	XXX
P/E	39.7x	XXX	49.1x	XXX	XXX	XXX
EV/FCF	n/a	XXX	55.6x	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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Hwatsing Technology Margins & Growth Rates

Hwatsing Technology's last 12 month revenue growth is 28%

Hwatsing Technology's revenue per employee in the last FY averaged $0.2M, while opex per employee averaged $28K for the same period.

Hwatsing Technology's rule of 40 is 63% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Hwatsing Technology's rule of X is 99% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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Hwatsing Technology Operational Valuation Multiples

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue Growth	28%	XXX	31%	XXX	XXX	XXX
EBITDA Margin	29%	XXX	36%	XXX	XXX	XXX
EBITDA Growth	24%	XXX	23%	XXX	XXX	XXX
Rule of 40	63%	XXX	64%	XXX	XXX	XXX
Bessemer Rule of X	XXX	XXX	99%	XXX	XXX	XXX
Revenue per Employee	XXX	XXX	$0.2M	XXX	XXX	XXX
Opex per Employee	XXX	XXX	$28K	XXX	XXX	XXX
S&M Expenses to Revenue	XXX	XXX	1%	XXX	XXX	XXX
G&A Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
R&D Expenses to Revenue	XXX	XXX	11%	XXX	XXX	XXX
Opex to Revenue	XXX	XXX	11%	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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