Goldsun Building Materials Co Ltd

Goldsun Building Materials maintains a conservative capital structure with a debt-to-equity ratio of 0.49 and a current ratio of 1.47, indicating adequate short-term liquidity coverage. The company holds TWD 10.29 billion in total equity against TWD 19.57 billion in total liabilities, with long-term debt constituting TWD 13.40 billion. Despite positive operating cash flow of TWD 5.15 billion, free cash flow is negative at TWD -2.42 billion due to significant capital expenditures of TWD 3.91 billion, resulting in a net cash position that is negative after subtracting total debt.

Profitability metrics demonstrate strong operational efficiency, with a return on equity of 14.29% and a return on assets of 8.29%. The company generates a gross profit of TWD 6.18 billion on revenue of TWD 22.53 billion, yielding a gross margin of approximately 27.4%. Operating income stands at TWD 5.08 billion, translating to a net income of TWD 3.88 billion. These returns are supported by a disciplined cost structure, although specific cohort median comparisons are unavailable for direct benchmarking.

Revenue concentration and segment details are not explicitly disclosed in the available data, limiting the ability to assess specific product or geographic exposure. The company’s total revenue of TWD 22.53 billion suggests a diversified base within the construction materials industry, but without segment breakdowns, the risk of concentration in specific product lines or regions cannot be quantified.

Growth trajectory analysis is constrained by the absence of historical period data. The current revenue figure of TWD 22.53 billion serves as the baseline for performance evaluation. Without multi-year revenue or net income trends, it is not possible to determine the company’s historical growth rate or momentum. Analyst estimates suggest a mean EPS of 3.54 TWD, compared to the last actual EPS of 3.29 TWD, indicating modest expected earnings growth.

Risk assessment highlights medium liquidity risk and low dilution risk. The key flag notes that net cash is negative after subtracting total debt, which may constrain financial flexibility. The company’s current ratio of 1.47 provides a buffer against short-term obligations, but the reliance on debt financing for capital expenditures introduces refinancing risk. The low dilution risk is supported by the identical basic and diluted share counts of 1.18 billion shares.

Recent observations indicate a neutral analyst sentiment, with a mean recommendation of 3.00 (Hold) and no strong buy or buy ratings. The single hold rating suggests a lack of consensus on upside potential. The company’s market price of TWD 32.35 results in a market capitalization of TWD 38.07 billion, reflecting a valuation that balances its profitability against its capital intensity and debt levels.

Net margin of 17.4% ranks in the top quartile, well above the cohort median of 5.3%.

Operating income grew 16.9% year-over-year to TWD 5.08 billion, showing strong operational leverage despite flat revenue.

Cash conversion ratio of 1.33 exceeds the cohort median of 1.2, suggesting effective working capital management.

Long-term debt increased to TWD 13.4 billion in FY2026, rising steadily from TWD 6.8 billion in FY2022.

The company faces medium liquidity and credit risks, which could constrain financial flexibility amid rising debt.

Revenue TWD 5.03B, −6,0% YoY; Operating income −0,6% YoY.

• ▍Revenue TWD 5.03B, −6,0% YoY
• ▍Operating income −0,6% YoY
• ▍Net income −1,7% YoY
• ▍Free cash flow −933,3% YoY
• ▍Net margin 16.3%

Revenue TWD 5.74B, +0,8% YoY; Operating income +18,6% YoY.

• ▍Revenue TWD 5.74B, +0,8% YoY
• ▍Operating income +18,6% YoY
• ▍Net income +5,2% YoY
• ▍Free cash flow +101,4% YoY
• ▍Net margin 17.4%

Revenue TWD 5.55B, +3,4% YoY; Operating income +36,0% YoY.

• ▍Revenue TWD 5.55B, +3,4% YoY
• ▍Operating income +36,0% YoY
• ▍Net income +18,9% YoY
• ▍Free cash flow −0,9% YoY
• ▍Net margin 18.4%

Revenue TWD 5.89B, +7,0% YoY; Operating income +15,0% YoY.

• ▍Revenue TWD 5.89B, +7,0% YoY
• ▍Operating income +15,0% YoY
• ▍Net income −47,5% YoY
• ▍Free cash flow −19,6% YoY
• ▍Net margin 17.4%

Revenue TWD 5.35B; Operating income TWD 1.11B.

• ▍Revenue TWD 5.35B
• ▍Operating income TWD 1.11B
• ▍Net margin 15.6%

Revenue TWD 5.70B; Operating income TWD 1.10B.

• ▍Revenue TWD 5.70B
• ▍Operating income TWD 1.10B
• ▍Net margin 16.7%

Revenue TWD 5.37B; Operating income TWD 982.3M.

• ▍Revenue TWD 5.37B
• ▍Operating income TWD 982.3M
• ▍Net margin 16.0%

Revenue TWD 5.50B; Operating income TWD 1.16B.

• ▍Revenue TWD 5.50B
• ▍Operating income TWD 1.16B
• ▍Net margin 35.5%

Revenue TWD 22.53B, +3,8% YoY; Operating income +16,9% YoY.

• ▍Revenue TWD 22.53B, +3,8% YoY
• ▍Operating income +16,9% YoY
• ▍Net income −15,4% YoY
• ▍Free cash flow −45,3% YoY
• ▍Net margin 17.2%

Revenue TWD 21.72B, +3,2% YoY; Operating income +2,5% YoY.

• ▍Revenue TWD 21.72B, +3,2% YoY
• ▍Operating income +2,5% YoY
• ▍Net income +30,0% YoY
• ▍Free cash flow −124,3% YoY
• ▍Net margin 21.1%

Revenue TWD 21.04B, −1,1% YoY; Operating income +13,5% YoY.

• ▍Revenue TWD 21.04B, −1,1% YoY
• ▍Operating income +13,5% YoY
• ▍Net income −14,6% YoY
• ▍Free cash flow −68,8% YoY
• ▍Net margin 16.8%

Revenue TWD 21.28B, −2,4% YoY; Operating income +9,2% YoY.

• ▍Revenue TWD 21.28B, −2,4% YoY
• ▍Operating income +9,2% YoY
• ▍Net income +45,0% YoY
• ▍Free cash flow −186,4% YoY
• ▍Net margin 19.4%