Nan Yang Dyeing & Finishing Co. Ltd. (1410) AI Stock Analysis

Nan Yang Dyeing & Finishing Co. Ltd.

(TWSE:1410)

Select Model

Rating:58Neutral

Price Target:TWD 27.00▲(2.08% Upside)

Action:initiatedcoverage

Date:11/09/26

Nan Yang Dyeing & Finishing scores in the middle of the range. Its greatest strength is financial safety: a virtually debt-free balance sheet, equity funding roughly 80% of assets, and a strong rebound in free cash flow to about NT$98 million. The main risk is operating deterioration — revenue has declined materially since 2021, gross margin has compressed, and the textile business itself posted an operating loss, leaving reported profit dependent on non-operating income and return on equity at only about 3.4%. Valuation adds pressure, with a P/E near 35 and a modest 0.78% dividend yield offering limited support. Technicals are mildly encouraging, as the stock sits above its short- and medium-term moving averages with a positive MACD, though it still trades below the 200-day average and the rally is maturing. Overall, a low-risk balance sheet is offset by weak underlying earnings power and a rich valuation.

Positive Factors

Very Low LeverageExceptionally low debt reduces financial strain and preserves flexibility during weaker operating periods. A stable equity base and minimal leverage also give Nan Yang greater capacity to maintain operations, fund necessary investment, and withstand fluctuations in textile-processing demand.

Negative Factors

Multi-Year Revenue DeclineA declining top line over multiple years signals persistent pressure on the company’s operating scale and customer demand. Continued contraction can reduce fixed-cost absorption, limit reinvestment capacity, and make it harder for Nan Yang to sustain earnings growth over the next several quarters.

Nan Yang Dyeing & Finishing Co. Ltd. (1410) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 1.61B
Dividend Yield: 0.76%
Average Volume (3M): 102.29K
Price to Earnings (P/E): 36.3
Beta (1Y): 0.03
Revenue Growth: 4.98%
EPS Growth: -32.39%
Country: TW
Employees: 230
Sector: General
Sector Strength: 55
Industry: Manufacturing - Textiles

Nan Yang Dyeing & Finishing Co. Ltd. Business Overview & Revenue Model

Company Description

Nan Yang Dyeing & Finishing Co.,Ltd operates primarily in the textile industry, focusing on the creation and distribution of fabrics. Its key activities involve the dyeing, printing, finishing, knitting, and overall processing of various textile mate...

Nan Yang Dyeing & Finishing Co. Ltd. Financial Statement Overview

Summary

A tale of two halves. The balance sheet is a fortress (score 86): essentially debt-free with equity funding about 80% of a NT$1.31 billion asset base, leaving almost no refinancing or interest-rate risk. Cash flow is also solid (score 73), with operating cash flow rebounding to roughly NT$105 million and free cash flow to about NT$98 million, covering around 93% of net income. The offset is a weak income statement (score 40): revenue has fallen sharply from its 2021 peak to roughly NT$189 million, gross margin compressed from about 38% to 29%, and the core business posted an operating loss, meaning reported profit relies on non-operating income. Return on equity of about 3.4% confirms a safe but capital-inefficient business.

Income Statement

40Negative

Balance Sheet

86Very Positive

Cash Flow

73Positive

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Mar 2023	Dec 2021
Income Statement
Total Revenue	193.02M	189.01M	236.72M	222.21M	395.97M	477.35M
Gross Profit	55.67M	55.68M	80.61M	60.25M	132.94M	183.00M
EBITDA	39.06M	68.77M	69.10M	46.68M	94.71M	136.21M
Net Income	45.41M	36.38M	35.84M	14.97M	56.58M	81.17M
Balance Sheet
Total Assets	1.32B	1.31B	1.33B	1.33B	1.38B	1.42B
Cash, Cash Equivalents and Short-Term Investments	598.24M	593.67M	568.61M	551.25M	561.04M	546.30M
Total Debt	267.00K	745.00K	1.58M	772.00K	1.68M	921.00K
Total Liabilities	233.25M	219.53M	202.10M	218.83M	223.43M	242.32M
Stockholders Equity	1.05B	1.06B	1.09B	1.07B	1.11B	1.13B
Cash Flow
Free Cash Flow	87.89M	97.74M	24.40M	17.81M	67.94M	65.74M
Operating Cash Flow	92.63M	105.03M	28.91M	32.43M	112.53M	92.26M
Investing Cash Flow	-49.34M	-120.21M	22.11M	-54.31M	67.23M	2.24M
Financing Cash Flow	-49.02M	-70.28M	-20.16M	-53.83M	-84.09M	-59.93M

Nan Yang Dyeing & Finishing Co. Ltd. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:1410 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:1446	70Outperform	TWD 1.72B	16.82	―	11.58%	-65.85%	-72.33%
TW:4401	59Neutral	TWD 1.63B	11.77	―	4.51%	-1.66%	44.21%
TW:1410	58Neutral	TWD 1.57B	36.28	―	0.76%	4.98%	-32.39%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
TW:4420	49Neutral	TWD 1.38B	25.56	―	14.60%	-1.61%	-88.67%
TW:1452	48Neutral	TWD 1.38B	108.38	―	1.93%	-15.11%	―
TW:1454	36Underperform	TWD 1.47B	-12.87	―	0.83%	-16.18%	-29.64%

* General Sector Average

Performance Comparison

TW:1410 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:1410	Nan Yang Dyeing & Finishing Co. Ltd.	26.45	-7.93	-23.06%
TW:1446	Hong Ho Precision Textile Co., Ltd.	12.95	-4.21	-24.53%
TW:1452	Hong Yi Fiber Industry Co., Ltd.	10.35	-1.28	-11.02%
TW:1454	Taiwan Taffeta Fabric Co., Ltd	12.10	-0.99	-7.58%
TW:4401	Toung Loong Textile Mfg. Co., Ltd.	13.30	-3.55	-21.07%
TW:4420	Kwang Ming Silk Mill Co., Ltd.	34.25	-10.75	-23.88%

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

Nan Yang Dyeing & Finishing Co. Ltd. AI Stock Analysis