Tehmag Foods Corp. (1264) AI Stock Analysis

Tehmag Foods Corp.

(TPEx:1264)

Select Model

Rating:59.5Neutral

Price Target:TWD 246.00▲(2.07% Upside)

Action:initiatedcoverage

Date:11/10/26

The overall score reflects a company with a solid financial foundation and attractive valuation, but these are significantly offset by severe technical weakness. The primary positive is the strong balance sheet and high dividend yield, while the most significant risk is the deeply oversold and downtrending stock price, which signals strong market pessimism likely tied to the eroding profit margins and revenue decline.

Positive Factors

Stable ProfitabilityStrong gross, operating, and net margins indicate that Tehmag has maintained meaningful profitability within packaged foods. Stable earnings conversion provides internal funding capacity, supports resilience during moderate demand pressure, and gives the company room to sustain operations and investment over the next several quarters.

Negative Factors

Revenue ContractionThe 2025 revenue decline interrupts Tehmag’s prior multi-year expansion and indicates that demand or price-volume conditions have become less favorable. Even with margins holding up, a shrinking top line can constrain operating leverage, limit earnings growth, and make sustained profit expansion harder.

Tehmag Foods Corp. (1264) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 9.08B
Dividend Yield: 6.22%
Average Volume (3M): 25.25K
Price to Earnings (P/E): 11.0
Beta (1Y): 0.13
Revenue Growth: 3.48%
EPS Growth: 5.90%
Country: TW
Employees: 220
Sector: General
Sector Strength: 55
Industry: Packaged Foods

Tehmag Foods Corp. Business Overview & Revenue Model

Company Description

Tehmag Foods Corporation is a Taiwanese company deeply involved in the baking industry. The company's diverse product range for bakers includes essential ingredients for bread-making, such as various flours (including milled flour products), instant...

Tehmag Foods Corp. Financial Statement Overview

Summary

Financial performance is mixed. The balance sheet is a key strength with low leverage (D/E 0.18) and robust ROE (~20-22%). However, the income statement shows a multi-year decline in gross margins (36.2% to 32.2%) and a recent 1.6% revenue contraction. Cash flow is healthy but volatile, with a recent 377% FCF surge offsetting a prior decline, though OCF/NI ratio below 1.0 is a concern.

Income Statement

55Neutral

Balance Sheet

72Positive

Cash Flow

68Positive

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	7.00B	6.78B	6.81B	5.84B	5.34B	4.95B
Gross Profit	2.24B	2.18B	2.20B	1.94B	1.84B	1.79B
EBITDA	1.27B	1.25B	1.26B	1.11B	1.04B	1.03B
Net Income	785.48M	758.50M	761.40M	675.76M	633.18M	599.73M
Balance Sheet
Total Assets	6.19B	5.93B	5.61B	4.80B	4.71B	4.26B
Cash, Cash Equivalents and Short-Term Investments	1.07B	1.07B	907.03M	988.99M	998.94M	859.11M
Total Debt	542.78M	650.19M	564.27M	220.74M	313.01M	203.07M
Total Liabilities	1.79B	1.43B	1.35B	933.53M	1.07B	889.42M
Stockholders Equity	3.55B	3.67B	3.45B	3.15B	2.93B	2.71B
Cash Flow
Free Cash Flow	576.46M	777.91M	207.96M	643.62M	480.31M	568.83M
Operating Cash Flow	941.75M	1.04B	797.65M	686.75M	611.57M	684.06M
Investing Cash Flow	-530.09M	-518.12M	-376.46M	-69.55M	-354.69M	-89.83M
Financing Cash Flow	-376.02M	-574.60M	-301.67M	-648.35M	-458.58M	-606.94M

Tehmag Foods Corp. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:1264 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:6790	68Neutral	TWD 9.84B	11.95	―	7.17%	-3.83%	17.72%
TW:1264	60Neutral	TWD 8.93B	11.02	―	6.22%	3.48%	5.90%
TW:6469	56Neutral	TWD 9.20B	16.59	―	5.49%	4.00%	-25.06%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
TW:4128	44Neutral	TWD 7.85B	24.61	―	―	4.85%	―
TW:1702	43Neutral	TWD 7.65B	168.06	―	5.29%	-0.31%	-90.22%
TW:2913	41Neutral	TWD 8.02B	-59.20	―	―	-10.64%	1.99%

* General Sector Average

Performance Comparison

TW:1264 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:1264	Tehmag Foods Corp.	241.00	-32.03	-11.73%
TW:1702	Namchow Holdings Co., Ltd.	30.25	-7.23	-19.30%
TW:2913	Taiwan Tea Corporation	10.10	-4.00	-28.37%
TW:4128	Microbio Co., Ltd.	13.45	-7.35	-35.34%
TW:6469	Great Tree Pharmacy Co., Ltd.	57.50	-36.61	-38.90%
TW:6790	Yuen Foong Yu Consumer Products Co., Ltd.	36.95	1.29	3.62%

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

Tehmag Foods Corp. AI Stock Analysis