Test Rite Retail (7867) Q4 2025 earnings summary

Executive summary

• FY2025 revenue was NT$8,638,814 thousand, while net income rose to NT$211,186 thousand from NT$157,094 thousand in FY2024. The auditor issued an unmodified opinion.

• The main audit focus was cutoff for non-spot sales, including customized goods and installation services, where revenue timing depends on fulfillment judgments.

Financial highlights

• Revenue fell to NT$8,638,814 thousand from NT$9,151,922 thousand YoY; gross profit was NT$3,353,149 thousand versus NT$3,533,946 thousand.

• Operating income increased to NT$265,186 thousand from NT$200,952 thousand; pretax income was NT$265,291 thousand versus NT$173,172 thousand.

• Net income was NT$211,186 thousand versus NT$157,094 thousand; total comprehensive income was NT$215,563 thousand versus NT$185,048 thousand.

• Operating cash flow was NT$1,201,095 thousand versus NT$1,347,235 thousand; year-end cash and cash equivalents were NT$766,718 thousand versus NT$410,804 thousand.

Outlook and guidance

• Variable rent expense as a proportion of store sales is expected to remain comparable to the current period.