TRK Corporation stock analysis
TRK Corporation (1432) Stock Price & Analysis
1432 Stock Chart & Stats
- Day’s Range
- TWD 13.50 - TWD 14.80
- 52-Week Range
- TWD 13.50 - TWD 19.55
- Previous Close
- TWD 14.50
- Volume
- N/A
- Average Volume (3M)
- 85.56K
- Market Cap
- TWD 1.51B
- Enterprise Value
- TWD 2.63B
- Total Cash (Recent Filing)
- TWD 602.75M
- Total Debt (Recent Filing)
- TWD 1.44B
- Price to Earnings (P/E)
- 2.8
- Beta
- 0.29
- Next Earnings
- Nov 16, 2026 (Est.)
- EPS Estimate
- N/A
- Last Dividend Ex-Date
- Jun 23, 2026
- Dividend Yield
- 14.04%
Bulls Say, Bears Say
Bulls Say
Revenue And Profit Recovery
A 78% 2025 revenue rebound and net margin near 49% show substantial operating recovery after the 2024 loss. If sales and profitability remain elevated, the stronger earnings base can support reinvestment and improve the company’s capacity to manage development-cycle demands over the next several quarters.
Improved Leverage
Debt-to-equity near 1.0x in 2025, down from roughly 3.7x–5.0x in 2022–2024, indicates a materially stronger capital structure. Lower leverage can reduce balance-sheet strain and improve flexibility to fund projects or absorb weaker property conditions, even though the prior leverage history remains relevant.
Healthy Gross Margins
Gross margin remained relatively healthy at about 38%–43% in most years, providing evidence of underlying project economics despite the company’s uneven operating profit. A stable gross-margin base can help preserve profitability when sales normalize, although it does not eliminate execution and cycle risk.
Bears Say
Negative Cash Generation
Negative operating cash flow and deeply negative free cash flow in 2025 create a significant disconnect from reported earnings. This may reflect working-capital or cash-collection pressure and can increase reliance on financing, limiting the company’s ability to fund development activity internally over the next several quarters.
Profitability Volatility
The 2025 earnings recovery is not yet clearly durable because the company recorded losses in 2021–2022, only modest profit in 2023, a loss in 2024, and inconsistent operating profit. This history makes forecasting cash earnings harder and increases the risk that reported profitability varies materially across development cycles.
Prior Balance-Sheet Risk
Although leverage improved in 2025, debt-to-equity had been roughly 3.7x–5.0x in 2022–2024. That history indicates meaningful balance-sheet sensitivity for a real-estate developer, where a return to weaker profitability could again constrain resilience, financing flexibility, and capacity to sustain projects.
1432 FAQ
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Company Description
TRK Corporation
TRK Corporation, alongside its associated companies, primarily focuses on the development and oversight of commercial property assets throughout Taiwan. Its diverse operations encompass the management of various retail shopping centers and the operation of "Game Love Paradise," a brand of family-oriented amusement parks. Furthermore, the firm extends its business activities into the sports and leisure tourism sector. TRK Corporation, which was established in 1962, is headquartered in Taichung, Taiwan.
- Sector
- General
- Industry
- Real Estate - Development
- CEO
- Kuo Tung Hsieh
- Employees
- 20
- Website
- www.taroko.com.tw
- Address
- TW
TRK Corporation (1432) Earnings & Revenues
Technical Analysis
Overall Consensus
| Indicator | Bullish | Neutral | Bearish |
|---|---|---|---|
| Overall Consensus | 4 | 4 | 14 |
| Technical Analysis | 4 | 4 | 2 |
| Moving Averages | 0 | 0 | 12 |

