3491.Two

The company maintains a conservative capital structure with a debt-to-equity ratio of 0.23 and a current ratio of 1.84, indicating adequate short-term liquidity coverage. However, the balance sheet shows total liabilities of 1,577,789,000 TWD against total equity of 3,617,503,000 TWD. Cash and equivalents stand at 333,710,000 TWD, which is insufficient to cover long-term debt of 833,744,000 TWD, resulting in a negative net cash position. This liquidity profile is flagged as medium risk, primarily due to the negative net cash status despite the low leverage ratio.

Profitability metrics show a return on equity (ROE) of 17.38% and a return on assets (ROA) of 12.1%, suggesting efficient use of capital to generate earnings. The company reported net income of 518,351,000 TWD on revenue of 2,452,164,000 TWD, yielding a net margin of approximately 21.1%. Operating income was 574,454,000 TWD, indicating strong operational leverage. However, the valuation multiples are elevated, with a P/E ratio of 119.32 and an EV/EBITDA of 104.66, reflecting high growth expectations or limited peer comparables in the current market context.

Revenue concentration and segment details are not explicitly provided in the available data, but the classification as Electronic Equipment, Instruments & Components suggests exposure to the broader technology supply chain. The company’s activity is unclassified at the sub-industry level, limiting specific geographic or customer concentration analysis. The lack of detailed segment data prevents a granular assessment of revenue drivers, but the overall revenue base of 2.45 billion TWD provides a foundation for further analysis.

Growth trajectory analysis is constrained by the absence of historical period data in the input. Without multi-year revenue or net income trends, it is not possible to assess the company’s historical growth rate or consistency. The current financial snapshot reflects a single period, and any inference about growth would be speculative. The high valuation multiples imply that the market expects significant future growth, but this cannot be verified against historical performance from the provided data.

Risk factors include medium liquidity risk due to the negative net cash position, where long-term debt exceeds cash and equivalents. Dilution risk is assessed as low, with basic and diluted shares outstanding both at 68,805,000, indicating no significant options or convertible securities impacting share count. The key flag of negative net cash highlights a potential vulnerability in funding future capital expenditures or weathering economic downturns without external financing.

Recent events include analyst coverage with a mean price target of 1,897.17 TWD and a median target of 2,010.00 TWD, suggesting upside potential from the current market price of 1,090.0 TWD. The mean recommendation of 1.62 indicates a strong buy consensus, with four strong buy and three buy ratings. News observations reference a reconciler enqueue event related to name-poison root-fix re-analysis, which is an internal data processing note and not a fundamental business event.

Revenue TWD 1.02B, +64,5% YoY; Operating income +88,1% YoY.

• ▍Revenue TWD 1.02B, +64,5% YoY
• ▍Operating income +88,1% YoY
• ▍Net income +77,1% YoY
• ▍Free cash flow +437,3% YoY
• ▍Net margin 24.8%

Revenue TWD 834.5M, +35,9% YoY; Operating income +42,3% YoY.

• ▍Revenue TWD 834.5M, +35,9% YoY
• ▍Operating income +42,3% YoY
• ▍Net income +36,1% YoY
• ▍Free cash flow −2 031,8% YoY
• ▍Net margin 25.9%

Revenue TWD 483.9M, −24,4% YoY; Operating income −54,7% YoY.

• ▍Revenue TWD 483.9M, −24,4% YoY
• ▍Operating income −54,7% YoY
• ▍Net income −33,3% YoY
• ▍Free cash flow −41,6% YoY
• ▍Net margin 18.2%

Revenue TWD 513.7M, −20,7% YoY; Operating income −52,7% YoY.

• ▍Revenue TWD 513.7M, −20,7% YoY
• ▍Operating income −52,7% YoY
• ▍Net income −60,1% YoY
• ▍Free cash flow −92,3% YoY
• ▍Net margin 13.8%

Revenue TWD 620.1M; Operating income TWD 166.7M.

• ▍Revenue TWD 620.1M
• ▍Operating income TWD 166.7M
• ▍Net margin 23.0%

Revenue TWD 613.8M; Operating income TWD 161.7M.

• ▍Revenue TWD 613.8M
• ▍Operating income TWD 161.7M
• ▍Net margin 25.9%

Revenue TWD 639.6M; Operating income TWD 185.5M.

• ▍Revenue TWD 639.6M
• ▍Operating income TWD 185.5M
• ▍Net margin 20.7%

Revenue TWD 647.9M; Operating income TWD 198.0M.

• ▍Revenue TWD 647.9M
• ▍Operating income TWD 198.0M
• ▍Net margin 27.5%

Revenue TWD 2.45B, +5,0% YoY; Operating income −7,6% YoY.

• ▍Revenue TWD 2.45B, +5,0% YoY
• ▍Operating income −7,6% YoY
• ▍Net income −5,2% YoY
• ▍Free cash flow −603,4% YoY
• ▍Net margin 21.1%

Revenue TWD 2.33B, +47,3% YoY; Operating income +207,1% YoY.

• ▍Revenue TWD 2.33B, +47,3% YoY
• ▍Operating income +207,1% YoY
• ▍Net income +173,3% YoY
• ▍Free cash flow −3,0% YoY
• ▍Net margin 23.4%

Revenue TWD 1.59B, −13,7% YoY; Operating income −30,8% YoY.

• ▍Revenue TWD 1.59B, −13,7% YoY
• ▍Operating income −30,8% YoY
• ▍Net income −26,2% YoY
• ▍Free cash flow −683,0% YoY
• ▍Net margin 12.6%

Revenue TWD 1.84B, +4,5% YoY; Operating income +32,1% YoY.

• ▍Revenue TWD 1.84B, +4,5% YoY
• ▍Operating income +32,1% YoY
• ▍Net income +14,5% YoY
• ▍Free cash flow −87,2% YoY
• ▍Net margin 14.7%