Innolux's September 2026 revenue rose 6.9% from August. Against the same month last year it barely moved. Both of its listed peers sold less than a year ago, so flat was the better outcome here. Profit figures still run only to the June quarter.
A good month against August, a flat month against last year
Innolux makes the glass panels The flat display sheets that go inside screens. Innolux sells them to the firms that build the finished device. inside TVs, laptops and car dashboards. It tells the market how much it sold every month, and September 2026 was a step up. Revenue The money a company takes in from selling things. It is the top line, before any costs are taken off. grew 6.9% from August.
How much did Innolux's September sales change against the same month a year earlier?
Actual0.7%
Just 0.7%. The jump of 6.9% from August takes the headline, but against last September the business barely moved at all.
Show answer
0.7% Just 0.7%. The jump of 6.9% from August takes the headline, but against last September the business barely moved at all.
Data table
| period | revenue | yoy |
|---|---|---|
| 2024-10 | NT$16.9bn | -2.3% |
| 2024-11 | NT$18.8bn | 7.8% |
| 2024-12 | NT$18.0bn | -4.2% |
| 2025-01 | NT$18.7bn | 13.1% |
| 2025-02 | NT$18.5bn | 33.4% |
| 2025-03 | NT$18.8bn | -6.8% |
| 2025-04 | NT$19.0bn | -1.3% |
| 2025-05 | NT$18.7bn | -0.7% |
| 2025-06 | NT$18.5bn | -1.2% |
| 2025-07 | NT$19.3bn | 9.1% |
| 2025-08 | NT$18.7bn | 1.1% |
| 2025-09 | NT$19.9bn | 3.9% |
| 2025-10 | NT$18.2bn | 7.8% |
| 2025-11 | NT$17.1bn | -8.9% |
| 2025-12 | NT$21.4bn | 19.2% |
| 2026-01 | NT$22.1bn | 18.6% |
| 2026-02 | NT$19.5bn | 5.6% |
| 2026-03 | NT$25.0bn | 33.1% |
| 2026-04 | NT$21.2bn | 11.8% |
| 2026-05 | NT$20.6bn | 10.3% |
| 2026-06 | NT$21.7bn | 17.2% |
| 2026-07 | NT$18.9bn | -1.9% |
| 2026-08 | NT$18.7bn | 0.0% |
| 2026-09 | NT$20.0bn | 0.7% |
Now look back a year instead of back one month. Against September 2025, revenue grew just 0.7%. So the month beat the one before it, not the same month a year ago. Add up the first nine months of 2026 and revenue is 10.5% higher than the same nine months of 2025, so the year as a whole is still the stronger story. The chart behind this covers 24 months of sales.
Glossary
- Revenue
- The money a company takes in from selling things. It is the top line, before any costs are taken off.
- panels
- The flat display sheets that go inside screens. Innolux sells them to the firms that build the finished device.
Flat looks good when the neighbours are shrinking
Innolux's revenue grew 0.7% from a year earlier in September 2026. Its peers did not manage that. The median of the peer group fell 14.2% over the same month, and the two of them added together were down 5.0%. AUO held up better than HannStar Display, which had the weakest month of the three.
The gap between Innolux and the peer median is 14.9 pp. One caution before you lean on it: the comparison uses only 2 peers, so treat it as a hint about the industry rather than a verdict.
The share price went its own way, and profit is a separate question
The shares did not simply follow the news. In the trading days before the announcement day, Innolux's shares ran 6.2% ahead of a basket made of its two peers. From the announcement day onwards the same measure was -7.6%, meaning the shares lagged that basket. On the day itself they were 1.1% ahead of it. Only 6 trading days from the announcement are in the data, so this is a short window, and all it shows is what moved in the same period as the news.
Data table
| day | series | value | series_role |
|---|---|---|---|
| -5 | Innolux | -0.9% | target |
| -4 | Innolux | -3.2% | target |
| -3 | Innolux | -0.6% | target |
| -2 | Innolux | -3.4% | target |
| -1 | Innolux | -2.8% | target |
| 0 | Innolux | -5.3% | target |
| 1 | Innolux | -3.6% | target |
| 2 | Innolux | -8.5% | target |
| 3 | Innolux | -8.6% | target |
| 4 | Innolux | -11.1% | target |
| 5 | Innolux | -11.4% | target |
| -5 | Peer basket | -2.2% | peer |
| -4 | Peer basket | -5.6% | peer |
| -3 | Peer basket | -4.8% | peer |
| -2 | Peer basket | -7.7% | peer |
| -1 | Peer basket | -8.7% | peer |
| 0 | Peer basket | -12.0% | peer |
| 1 | Peer basket | -7.4% | peer |
| 2 | Peer basket | -11.4% | peer |
| 3 | Peer basket | -9.0% | peer |
| 4 | Peer basket | -8.2% | peer |
| 5 | Peer basket | -10.3% | peer |
| -5 | Cumulative abnormal return | 1.3% | neutral |
| -4 | Cumulative abnormal return | 2.4% | neutral |
| -3 | Cumulative abnormal return | 4.3% | neutral |
| -2 | Cumulative abnormal return | 4.5% | neutral |
| -1 | Cumulative abnormal return | 6.2% | neutral |
| 0 | Cumulative abnormal return | 7.3% | neutral |
| 1 | Cumulative abnormal return | 3.8% | neutral |
| 2 | Cumulative abnormal return | 3.0% | neutral |
| 3 | Cumulative abnormal return | 0.3% | neutral |
| 4 | Cumulative abnormal return | -3.4% | neutral |
| 5 | Cumulative abnormal return | -1.4% | neutral |
A monthly sales number also cannot tell you whether those sales made money. For that you need the quarterly accounts, and those run only through 2026 Q2, so September's profitability is not yet available. In that quarter gross margin The share of each dollar of sales left after the direct cost of making the product. was 14.6% and operating margin The share of sales left after making the product and running the business, before interest and tax. was 2.6%. My reading: with an operating margin that thin, small moves in panel prices swing the result.
Glossary
- gross margin
- The share of each dollar of sales left after the direct cost of making the product.
- operating margin
- The share of sales left after making the product and running the business, before interest and tax.
Risks
- Monthly revenue is unaudited and can be restated later.
- One month is noisy: shipment timing and currency moves can swing it.
- Only two peers in the basket, so the comparison may mean little.
Sources
- FinMind 月營收 3481（原始來源：公開資訊觀測站 營收公告） — data as of 2026-09-30; fetched 2026-11-05 19:09 UTC; License note: FinMind open data; original source MOPS (公開資訊觀測站)
- 臺灣證券交易所 個股日成交資訊 2409 — data as of 2026-10-27; fetched 2026-11-05 19:10 UTC
- 臺灣證券交易所 個股日成交資訊 6116 — data as of 2026-10-27; fetched 2026-11-05 19:10 UTC
- 臺灣證券交易所 個股日成交資訊 3481 — data as of 2026-10-27; fetched 2026-11-05 19:10 UTC