Generalplus Technology Inc

Generalplus Technology Inc maintains a strong liquidity position, with cash and equivalents amounting to TWD 859.9 million, representing 26.25% of total assets. The company’s liquidity FPT (free cash flow to total liabilities) is robust, with free cash flow of TWD 128.88 million and total liabilities of TWD 1,108.03 million, indicating a liquidity buffer of 11.63%. The current ratio of 2.56 further supports its ability to meet short-term obligations without reliance on external financing.

Profitability metrics show a return on equity (ROE) of 5.49% and return on assets (ROA) of 3.63%, both below the industry median for Semiconductors, which typically exceeds 10% ROE and 6% ROA. The company’s gross margin of 38.34% (TWD 303.26 million gross profit on TWD 791.02 million revenue) is in line with the sector average, but operating margin of 14.12% (TWD 111.72 million operating income) lags behind the median of 18%.

The company’s revenue is concentrated in a few key markets, with disclosed exposure to the Asia-Pacific region, particularly China and Southeast Asia. No segment-specific revenue breakdown is available, but the industry_config for Semiconductors highlights geographic concentration as a key risk, especially in relation to geopolitical tensions and supply chain disruptions.

Looking ahead, Generalplus Technology Inc is projected to see a 12.4% year-over-year revenue increase in the current fiscal year, driven by growing demand in automotive and industrial applications. However, the next fiscal year outlook is more cautious, with a projected 4.7% decline, reflecting potential macroeconomic headwinds and inventory adjustments in the semiconductor industry.

Risk factors include moderate liquidity risk due to the company’s low debt-to-equity ratio of 0.11 and strong cash reserves, but credit risk remains low. Dilution risk is also low, with no immediate filing-based flags and no difference between basic and diluted shares outstanding. The company has not made any recent equity offerings or issued shelf registration statements that would suggest dilution pressure.

Recent events include a Q4 2023 earnings report showing a net income of TWD 118.93 million, in line with analyst estimates of TWD 2.57 per share. No major regulatory or litigation events were disclosed in the latest filings, and the company has not issued any material risk factor updates in the past six months.

The debt-to-equity ratio of 0.11 is significantly lower than the semiconductor cohort median of 0.24.

Cash conversion ratio of 1.31 exceeds the semiconductor cohort median of 0.91, suggesting strong earnings quality.

Dilution, liquidity, and credit risks are all assessed at low levels, indicating a stable financial profile.

Long-term debt increased to 158.9 million TWD in 2019, up from 107.1 million TWD in 2018.

Revenue TWD 586.8M, +11,5% YoY.

• ▍Revenue TWD 586.8M, +11,5% YoY

Revenue TWD 458.0M, −2,6% YoY; Operating income −4 399,7% YoY.

• ▍Revenue TWD 458.0M, −2,6% YoY
• ▍Operating income −4 399,7% YoY
• ▍Net income −60,9% YoY
• ▍Free cash flow −23,0% YoY
• ▍Net margin 0.5%

Revenue TWD 478.8M, −27,1% YoY; Operating income −95,0% YoY.

• ▍Revenue TWD 478.8M, −27,1% YoY
• ▍Operating income −95,0% YoY
• ▍Net income −86,7% YoY
• ▍Free cash flow −93,0% YoY
• ▍Net margin 1.7%

Revenue TWD 665.0M, −15,9% YoY; Operating income −29,0% YoY.

• ▍Revenue TWD 665.0M, −15,9% YoY
• ▍Operating income −29,0% YoY
• ▍Net income −52,9% YoY
• ▍Free cash flow −62,2% YoY
• ▍Net margin 8.4%

Revenue TWD 526.2M; Operating income TWD 40.0M.

• ▍Revenue TWD 526.2M
• ▍Operating income TWD 40.0M
• ▍Net margin 8.7%

Revenue TWD 470.2M; Operating income -TWD 690.0k.

• ▍Revenue TWD 470.2M
• ▍Operating income -TWD 690.0k
• ▍Net margin 1.3%

Revenue TWD 2.13B, −13,6% YoY; Operating income −60,1% YoY.

• ▍Revenue TWD 2.13B, −13,6% YoY
• ▍Operating income −60,1% YoY
• ▍Net income −54,5% YoY
• ▍Free cash flow −205,1% YoY
• ▍Net margin 5.3%

Revenue TWD 2.46B, +13,6% YoY; Operating income +37,8% YoY.

• ▍Revenue TWD 2.46B, +13,6% YoY
• ▍Operating income +37,8% YoY
• ▍Net income +47,0% YoY
• ▍Free cash flow +137,7% YoY
• ▍Net margin 10.0%

Revenue TWD 3.58B; Operating income TWD 790.5M.

• ▍Revenue TWD 3.58B
• ▍Operating income TWD 790.5M
• ▍Net margin 18.4%