Company Deep Dive
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2404.TW
STRONG BUYAPPROVEUnited Integrated Services Co., Ltd. · Industrials · Taiwan · $7.6B · Avg Vol: $189M/d
United Integrated Services (UIS) is a premier cleanroom and high-precision facility engineering partner for TSMC. As TSMC aggressively expands its advanced packaging (CoWoS) and foundry capacity globally to resolve the AI bottleneck, UIS is a direct, asset-light beneficiary. Operating with high ROIC, negative working capital, and a deep moat built on decades of co-engineering, UIS offers an asymmetric way to play the advanced packaging buildout.
COMPANY DESCRIPTION
United Integrated Services Co., Ltd. (UIS) is a premier provider of cleanroom integration and mechanical, electrical, and plumbing (MEP) engineering services for high-tech industries. The company is a critical partner to global semiconductor giants, most notably TSMC, executing the construction of advanced wafer fabs globally. Its unparalleled track record in high-precision engineering, strict project execution, and deep integration with the semiconductor supply chain create an exceptionally high barrier to entry.
FINANCIAL SUMMARY (USD)
| Year | 2021 | 2022 | 2023 | 2024 | 2025 | CAGR |
|---|---|---|---|---|---|---|
| Revenue | — | 1.5B | 2.2B | 1.5B | 2.1B | 11.1% |
| EPS | 0.46 | 0.67 | 0.78 | 1.04 | — | 31.4% |
| Shares | — | 190.6M | 190.6M | 190.6M | 190.6M | 0.0% |
| Debt | — | 12.5M | 107.3M | 11.0M | 8.1M | -13.3% |
| Equity | — | 329.0M | 383.2M | 465.2M | 588.5M | 21.4% |
| Op CF | — | 209.1M | 138.7M | 553.7M | 920.0M | 63.9% |
| Inv CF | — | 21.2M | -203.0M | -261.9M | -170.0M | — |
| Fin CF | — | -100.1M | 8.1M | -228.5M | -170.9M | — |
SCORE BREAKDOWN
FUNDAMENTALS
SECTOR PEERS
Closest peers in Industrials, ranked by industry match, size, and score similarity. Cross-listings of 2404.TW are excluded.
| Ticker | Company | Mkt Cap | StockRank | Signal |
|---|---|---|---|---|
| 2404.TW | United Integrated Services Co., Ltd.(you) | $7.6B | 91 | STRONG BUY |
| 6139.TW | L&K Engineering Co., Ltd. | $6.0B | 99 | STRONG BUY |
| 5536.TWO | Acter Group Corporation Limited | $5.0B | 95 | STRONG BUY |
| 6691.TW | Yankey Engineering Co., Ltd. | $2.8B | 85 | STRONG BUY |
| 9933.TW | CTCI Corporation | $1.3B | 87 | STRONG BUY |
| 2072.TW | Century Wind Power Co., Ltd. | $1.1B | 85 | STRONG BUY |
| 2535.TW | Da-Cin Construction Co.,Ltd. | $770M | 98 | STRONG BUY |
| 2597.TW | Ruentex Engineering & Construction Co., Ltd. | $1.7B | 64 | HOLD |
| 8926.TW | Taiwan Cogeneration Corporation | $2.1B | 58 | HOLD |
| 2546.TW | Kedge Construction Co., Ltd. | $385M | 96 | STRONG BUY |
Peer medians: ROE 8.5% · P/E 21.3x · Gross margin 23.4%