Gordon Auto Body Parts Co., Ltd. (1524) AI Stock Analysis

Gordon Auto Body Parts Co., Ltd.

(TWSE:1524)

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Rating:64Neutral

Price Target:TWD 25.00▲(2.04% Upside)

Action:initiatedcoverage

Date:11/09/26

Gordon Auto Body Parts scores in the middle of the range. Its financial foundation is solid — low leverage after years of deleveraging, equity funding most of the asset base, and operating cash flow that comfortably exceeds reported earnings. Offsetting this is a clear cyclical setback, with revenue down 7.4%, gross margin compression of over five points, net profit down roughly 46% and free cash flow constrained by heavy capital expenditure. Valuation is supportive, with an 11.6 P/E and a near-6% dividend yield backed by a low-beta profile, which helps cushion the score. The principal drag is technical: the stock sits below all major moving averages with negative MACD, and while oversold readings hint at a possible relief bounce, the prevailing trend remains downward. Investors should watch for stabilization in margins and volumes before the picture improves materially.

Positive Factors

Improving Balance SheetThe substantial reduction in debt-to-equity has strengthened financial resilience and reduced balance-sheet pressure compared with earlier years. Stable equity provides a stronger base for operating through demand fluctuations, funding ongoing activity, and preserving capital-allocation flexibility over the next several quarters.

Negative Factors

Revenue and Earnings ContractionThe sharp 2025 decline in revenue and net income signals weaker business momentum and reduces the earnings base available to fund growth or shareholder distributions. If demand softness persists, lower scale could make it harder to sustain recent margins and may keep returns below their stronger 2024 level.

Gordon Auto Body Parts Co., Ltd. (1524) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 4.00B
Dividend Yield: 5.73%
Average Volume (3M): 331.64K
Price to Earnings (P/E): 11.1
Beta (1Y): 0.56
Revenue Growth: -11.49%
EPS Growth: -13.91%
Country: TW
Employees: 478
Sector: General
Sector Strength: 55
Industry: Auto - Parts

Gordon Auto Body Parts Co., Ltd. Business Overview & Revenue Model

Company Description

Gordon Auto Body Parts Co., Ltd. is a global producer and supplier of aftermarket sheet metal components designed for vehicles involved in collisions. Their comprehensive catalog features numerous critical auto body parts, such as side panels, wheel...

Gordon Auto Body Parts Co., Ltd. Financial Statement Overview

Summary

A conservative balance sheet (score 72) is the standout strength, with debt-to-equity reduced to 0.51 from 1.17 in 2021 and equity funding about 58% of assets. Cash flow (66) is dependable — operating cash flow rose to NT$698.7m and covered net income more than twice — though heavy capital spending of roughly NT$460m keeps free cash flow modest at NT$238.7m. The income statement (61) is the weak link: revenue fell 7.4% to NT$2.63bn, gross margin narrowed from 31.9% to 26.8%, and net profit dropped about 46% to NT$323m, pulling return on equity down to 10.7%. The result is a financially sound but clearly cyclical manufacturer with downside protection but weakening earnings momentum.

Income Statement

61Positive

Balance Sheet

72Positive

Cash Flow

66Positive

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	2.49B	2.63B	3.02B	2.70B	2.44B	1.96B
Gross Profit	645.97M	705.99M	962.91M	728.96M	556.44M	321.52M
EBITDA	764.92M	787.48M	1.11B	805.89M	811.74M	431.52M
Net Income	337.01M	323.08M	597.26M	351.56M	336.44M	62.08M
Balance Sheet
Total Assets	5.27B	5.20B	5.23B	5.33B	5.43B	5.40B
Cash, Cash Equivalents and Short-Term Investments	307.90M	320.80M	388.27M	703.52M	704.63M	604.70M
Total Debt	1.66B	1.53B	1.45B	1.86B	2.28B	2.64B
Total Liabilities	2.31B	2.18B	2.13B	2.63B	2.91B	3.16B
Stockholders Equity	2.97B	3.02B	3.10B	2.70B	2.53B	2.25B
Cash Flow
Free Cash Flow	140.10M	238.65M	238.80M	598.76M	448.07M	-202.23M
Operating Cash Flow	622.47M	698.74M	648.59M	885.12M	682.06M	115.92M
Investing Cash Flow	-465.03M	-459.67M	-369.84M	-278.88M	-180.56M	-253.84M
Financing Cash Flow	-162.69M	-307.00M	-594.83M	-607.84M	-402.05M	292.64M

Gordon Auto Body Parts Co., Ltd. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:1524 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:1524	64Neutral	TWD 4.04B	11.11	―	5.73%	-11.49%	-13.91%
TW:4541	61Neutral	TWD 3.68B	12.31	―	2.72%	23.40%	208.00%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
TW:4569	54Neutral	TWD 4.24B	15.79	―	2.30%	12.32%	150.98%
TW:2243	47Neutral	TWD 3.80B	41.97	―	―	9.09%	167.63%
TW:2012	42Neutral	TWD 3.90B	-116.93	―	2.15%	-14.50%	-160.42%

* General Sector Average

Performance Comparison

TW:1524 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:1524	Gordon Auto Body Parts Co., Ltd.	24.50	-4.70	-16.10%
TW:2012	Chun Yu Works & Co., Ltd.	13.95	-1.14	-7.55%
TW:2243	Horng Shiue Holding Co., Ltd.	48.10	36.85	327.56%
TW:4541	Magnate Technology Co., Ltd.	50.50	9.22	22.34%
TW:4569	Sixxon Tech Co Ltd	143.00	-3.59	-2.45%
TW:7955	Car Quality Automotive Co., Ltd.	169.50	-30.50	-15.25%

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

Gordon Auto Body Parts Co., Ltd. AI Stock Analysis