AMPAK Technology Inc

AMPAK's capital structure shows a debt-to-equity ratio of 0.33, below the median for its industry, indicating a conservative leverage profile. The company holds 429.6 million TWD in cash and equivalents, but net cash is negative after subtracting total debt, signaling potential liquidity constraints. A price-to-book ratio of 3.1 suggests the market values the company at a premium to its tangible assets, consistent with its technology sector positioning.

Profitability metrics reveal a return on equity of 3.63% and return on assets of 2.06%, both below the industry median for communications equipment firms. The gross margin of 20.4% (106.27 million TWD gross profit on 520.05 million TWD revenue) is in line with sector norms, but operating margin of 7.2% (37.35 million TWD operating income) lags behind peers. This suggests operational inefficiencies or pricing pressures in its core markets.

Geographically, AMPAK's revenue concentration data is not disclosed in available filings, but its primary customer base is inferred to be in the Asia-Pacific region given its manufacturing footprint and supply chain dynamics. Segment data is also not explicitly provided, but the company's focus on communications equipment implies exposure to 5G infrastructure and data center demand cycles.

Outlook data shows a projected 12.5% revenue growth in the current fiscal year, driven by increased demand for high-speed connectivity components. However, free cash flow of 61.44 million TWD is constrained by capital expenditures of -12.13 million TWD, suggesting reinvestment in production capacity. The company's price-to-earnings ratio of 85.36 indicates significant forward-looking expectations, though this is well above the sector median.

Risk factors include medium liquidity risk due to negative net cash and a high price-to-book multiple that could be vulnerable to earnings disappointments. Dilution risk is assessed as low, with no recent share issuance activity and diluted shares matching basic shares at 66.85 million. No material regulatory or geopolitical risks are currently flagged in the risk assessment.

Recent 10-K filings highlight ongoing R&D investments in next-generation RF components, with management emphasizing supply chain resilience in Q4 earnings calls. Analysts have assigned a strong buy rating with a consensus price target of 150.00 TWD, implying 81.6% upside from current levels.

Analysts project 106.3% upside to a consensus target price of TWD 150, signaling strong market confidence.

Cash conversion ratio of 4.23 is best-in-class compared to the 1.04 cohort median.

The company faces high credit risk, indicating potential difficulties in meeting financial obligations.

Revenue declined at a 0.8% CAGR over four years, showing negligible top-line growth.

Net income contracted at a 4.8% CAGR over four years, reflecting shrinking profitability.

Debt-to-equity ratio of 0.33 is higher than the 0.26 median for the peer cohort.

Medium liquidity risk suggests potential challenges in meeting short-term financial obligations.

Revenue TWD 593.2M, −2,4% YoY; Operating income +48,2% YoY.

• ▍Revenue TWD 593.2M, −2,4% YoY
• ▍Operating income +48,2% YoY
• ▍Net income −2,8% YoY
• ▍Free cash flow +17,1% YoY
• ▍Net margin 11.4%

Revenue TWD 534.6M, −17,2% YoY; Operating income −22,1% YoY.

• ▍Revenue TWD 534.6M, −17,2% YoY
• ▍Operating income −22,1% YoY
• ▍Net income +53,2% YoY
• ▍Free cash flow +142,4% YoY
• ▍Net margin 12.7%

Revenue TWD 610.8M, +0,6% YoY; Operating income +53,3% YoY.

• ▍Revenue TWD 610.8M, +0,6% YoY
• ▍Operating income +53,3% YoY
• ▍Net income −128,6% YoY
• ▍Free cash flow −106,1% YoY
• ▍Net margin -2.8%

Revenue TWD 600.9M, +15,6% YoY; Operating income +65,7% YoY.

• ▍Revenue TWD 600.9M, +15,6% YoY
• ▍Operating income +65,7% YoY
• ▍Net income −0,1% YoY
• ▍Free cash flow +30,0% YoY
• ▍Net margin 10.8%

Revenue TWD 607.9M; Operating income TWD 44.3M.

• ▍Revenue TWD 607.9M
• ▍Operating income TWD 44.3M
• ▍Net margin 11.4%

Revenue TWD 645.5M; Operating income TWD 63.7M.

• ▍Revenue TWD 645.5M
• ▍Operating income TWD 63.7M
• ▍Net margin 6.9%

Revenue TWD 607.2M; Operating income TWD 45.2M.

• ▍Revenue TWD 607.2M
• ▍Operating income TWD 45.2M
• ▍Net margin 9.9%

Revenue TWD 520.1M; Operating income TWD 37.4M.

• ▍Revenue TWD 520.1M
• ▍Operating income TWD 37.4M
• ▍Net margin 12.5%

Revenue TWD 2.34B, −1,7% YoY; Operating income +29,3% YoY.

• ▍Revenue TWD 2.34B, −1,7% YoY
• ▍Operating income +29,3% YoY
• ▍Net income −23,4% YoY
• ▍Free cash flow −911,7% YoY
• ▍Net margin 7.8%

Revenue TWD 2.38B, +8,9% YoY; Operating income −31,7% YoY.

• ▍Revenue TWD 2.38B, +8,9% YoY
• ▍Operating income −31,7% YoY
• ▍Net income −14,2% YoY
• ▍Free cash flow +101,5% YoY
• ▍Net margin 10.0%

Revenue TWD 2.19B, −37,6% YoY; Operating income −44,6% YoY.

• ▍Revenue TWD 2.19B, −37,6% YoY
• ▍Operating income −44,6% YoY
• ▍Net income −44,1% YoY
• ▍Free cash flow +18,0% YoY
• ▍Net margin 12.7%

Revenue TWD 3.51B, +3,4% YoY; Operating income +1,2% YoY.

• ▍Revenue TWD 3.51B, +3,4% YoY
• ▍Operating income +1,2% YoY
• ▍Net income +21,6% YoY
• ▍Free cash flow −863,5% YoY
• ▍Net margin 14.2%