Ten Ren Tea Co., Ltd. (1233) AI Stock Analysis

Ten Ren Tea Co., Ltd.

(TWSE:1233)

Select Model

Rating:63Neutral

Price Target:TWD 30.00▲(5.26% Upside)

Action:initiatedcoverage

Date:11/10/26

The score is supported primarily by a conservative balance sheet and positive cash generation, while declining operating profitability limits financial strength. Technical indicators are modestly supportive, but the high P/E and low dividend yield materially reduce the overall score.

Positive Factors

Consistent Free Cash FlowSustained positive operating and free cash flow indicates that the company is converting its operations into usable cash over time. This supports earnings quality, provides internally generated funding for the business, and offers flexibility for dividends, investment, or balance-sheet management.

Negative Factors

Revenue ContractionThe latest revenue decline shows that recent demand or business momentum has weakened after two years of growth. If this contraction persists, it could reduce operating leverage, limit reinvestment capacity, and make it harder for the company to sustain earnings and scale its branded product platform.

Ten Ren Tea Co., Ltd. (1233) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 2.60B
Dividend Yield: 0.70%
Average Volume (3M): 19.82K
Price to Earnings (P/E): 30.6
Beta (1Y): 0.04
Revenue Growth: 1.42%
EPS Growth: 17.11%
Country: TW
Employees: 1,586
Sector: General
Sector Strength: 55
Industry: Packaged Foods

Ten Ren Tea Co., Ltd. Business Overview & Revenue Model

Company Description

Ten Ren Tea Co., Ltd. is a company based in Taipei, Taiwan, with a legacy tracing back to its founding in 1953. It specializes in the global production and distribution of tea, various tea-related products, and a range of beverages, catering to both...

Ten Ren Tea Co., Ltd. Financial Statement Overview

Summary

Financial quality is moderate: the balance sheet is strong with low leverage, and cash flow is positive with sharply improved free cash flow. These strengths are offset by declining revenue, profitability, margins, and return on equity.

Income Statement

55Neutral

Balance Sheet

78Positive

Cash Flow

72Positive

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	2.20B	2.16B	2.20B	2.11B	1.84B	1.77B
Gross Profit	1.26B	1.14B	1.29B	1.22B	1.03B	990.76M
EBITDA	258.27M	243.38M	286.63M	290.63M	221.92M	224.53M
Net Income	83.75M	67.92M	88.22M	95.68M	51.23M	43.13M
Balance Sheet
Total Assets	2.20B	2.20B	2.36B	2.37B	2.35B	2.31B
Cash, Cash Equivalents and Short-Term Investments	202.54M	173.40M	194.12M	190.49M	209.99M	256.65M
Total Debt	343.71M	499.92M	548.67M	453.16M	480.39M	566.41M
Total Liabilities	791.20M	843.20M	896.42M	884.38M	864.41M	849.22M
Stockholders Equity	1.40B	1.35B	1.46B	1.49B	1.49B	1.46B
Cash Flow
Free Cash Flow	218.67M	169.82M	189.51M	217.93M	142.38M	81.56M
Operating Cash Flow	276.31M	222.59M	248.28M	263.57M	202.07M	104.43M
Investing Cash Flow	-54.09M	-65.45M	-49.69M	-66.94M	23.74M	-25.76M
Financing Cash Flow	-217.03M	-181.95M	-197.73M	-224.64M	-204.50M	-222.12M

Ten Ren Tea Co., Ltd. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:1233 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:7708	73Outperform	TWD 2.29B	11.59	―	6.12%	13.10%	30.56%
TW:1233	63Neutral	TWD 2.58B	30.64	―	0.70%	1.42%	17.11%
TW:2945	57Neutral	TWD 2.60B	26.02	―	3.93%	23.01%	-26.72%
TW:1236	56Neutral	TWD 2.33B	-385.00	―	6.12%	-2.79%	―
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
TW:2732	51Neutral	TWD 2.79B	17.20	―	6.69%	26.17%	282.20%
TW:1235	44Neutral	TWD 2.57B	-117.86	―	1.52%	43.28%	34.56%

* General Sector Average

Performance Comparison

TW:1233 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:1233	Ten Ren Tea Co., Ltd.	28.50	-2.09	-6.82%
TW:1235	Shin Tai Industry Co. Ltd.	33.00	-13.48	-28.99%
TW:1236	Hunya Foods Co. Ltd.	26.95	3.47	14.79%
TW:2732	La Kaffa International Co., Ltd.	59.80	-7.92	-11.70%
TW:2945	Simple Mart Retail Co., Ltd.	38.15	1.64	4.49%
TW:7708	Family International Gourmet Co Ltd	89.90	-4.25	-4.51%

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Nov 09, 2026

Ten Ren Tea Co., Ltd. AI Stock Analysis