China Ecotek Corp. AI Stock Analysis
China Ecotek Corp. (1535) AI Stock Analysis
China Ecotek Corp.
(TWSE:1535)
China Ecotek scores solidly on the strength of a near debt-free balance sheet, consistent revenue growth and healthy cash conversion, backed by an inexpensive 12.3x P/E and a high 6.7% dividend yield. The main drags are structurally thin and narrowing operating margins with flat net income, a history of negative cash flow years tied to project timing, and a soft technical picture, with the shares trading below all key moving averages amid negative MACD momentum. Low beta and a strong financial position make this a defensive, income-oriented holding rather than a momentum story.
China Ecotek Corp. (1535) vs. SPDR S&P 500 ETF (SPY)
- Market Cap
- TWD 5.54B
- Dividend Yield
- 6.73%
- Average Volume (3M)
- 39.88K
- Price to Earnings (P/E)
- 12.2
- Beta (1Y)
- 0.21
- Revenue Growth
- -23.64%
- EPS Growth
- -8.34%
- Country
- TW
- Employees
- 12,854
- Sector
- General
- Sector Strength
- 55
- Industry
- Engineering & Construction
China Ecotek Corp. Business Overview & Revenue Model
Company Description
China Ecotek Corporation provides planning, design, installation, maintenance, and environmental impact assessment services for environmental protection engineering, cogeneration engineering, and steel industry in Taiwan. It is involved in design and...
China Ecotek Corp. Financial Statement Overview
Summary
China Ecotek combines steady revenue growth (NT$8.8bn in 2020 to NT$11.37bn today) with an exceptionally conservative balance sheet — total debt of just NT$51 million against NT$3.82 billion of equity (D/E ~0.01) and ROE near 13%. Cash generation rebounded for a second straight year, with operating cash flow of NT$730 million exceeding net income of NT$495 million (1.5x conversion) and free cash flow covering ~92% of profit on modest capex. Offsetting this, margins remain structurally thin and compressed again — operating margin fell to 4.1% from 5.2% (6.9% in 2022) and net income was flat year over year, showing growth driven by volume rather than pricing. Cash flow history is also volatile, with negative operating and free cash flow in both 2022 and 2023 due to project working-capital swings.
Income Statement
64PositiveBalance Sheet
82Very PositiveCash Flow
70Positive| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 10.01B | 11.37B | 10.86B | 9.76B | 8.84B | 8.48B |
| Gross Profit | 1.04B | 1.07B | 1.01B | 972.75M | 812.86M | 720.49M |
| EBITDA | 476.31M | 562.68M | 647.56M | 529.91M | 672.53M | 531.13M |
| Net Income | 467.07M | 495.28M | 501.89M | 556.89M | 520.52M | 403.88M |
Balance Sheet | ||||||
| Total Assets | 7.51B | 7.26B | 7.16B | 6.84B | 6.97B | 6.86B |
| Cash, Cash Equivalents and Short-Term Investments | 2.80B | 2.49B | 1.57B | 1.19B | 2.16B | 2.30B |
| Total Debt | 39.11M | 50.66M | 127.64M | 184.98M | 95.57M | 103.46M |
| Total Liabilities | 3.77B | 3.44B | 3.41B | 3.18B | 3.46B | 3.63B |
| Stockholders Equity | 3.73B | 3.82B | 3.74B | 3.66B | 3.51B | 3.23B |
Cash Flow | ||||||
| Free Cash Flow | 974.55M | 670.86M | 974.66M | -624.16M | -146.54M | -275.43M |
| Operating Cash Flow | 1.04B | 729.82M | 1.14B | -422.32M | -17.39M | 236.81M |
| Investing Cash Flow | -361.22M | -208.38M | -24.97M | 163.90M | 701.76M | -924.90M |
| Financing Cash Flow | -409.94M | -472.80M | -484.81M | -319.77M | -353.70M | -197.19M |
China Ecotek Corp. Peers Comparison
Overall Rating
TW:520976Outperform- TW:153569Neutral
TW:672560Neutral
TW:893150Neutral
TW:620847Neutral
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| TW:5209 | 76Outperform | TWD 5.67B | 11.38 | ― | 5.94% | 4.58% | 32.53% |
| TW:1535 | 69Neutral | TWD 5.55B | 12.21 | ― | 6.73% | -23.64% | -8.34% |
| TW:6725 | 60Neutral | TWD 6.37B | 13.51 | ― | 4.08% | ― | ― |
| Sector * | 55Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
| TW:8931 | 50Neutral | TWD 5.12B | 35.98 | ― | 3.86% | 0.74% | -57.93% |
| TW:6208 | 47Neutral | TWD 6.64B | 16.52 | ― | 2.88% | 1.09% | 40.91% |
* General Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| TW:1535 | China Ecotek Corp. | 44.55 | -7.17 | -13.86% | |
| TW:5209 | CTCI Advanced Systems Inc. | 218.00 | 59.87 | 37.86% | |
| TW:6208 | Highlight Tech Corp. | 69.50 | 26.73 | 62.50% | |
| TW:6725 | Cica-Huntek Chemical Technology Taiwan Co | 171.50 | -73.61 | -30.03% | |
| TW:6923 | Chung Tai Resource Technology Corp. | 68.00 | -28.21 | -29.32% | |
| TW:8931 | Ta-Yuan Cogeneration Co. Ltd. | 41.45 | -6.36 | -13.31% |
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