Apex Biotechnology Corp. (1733) AI Stock Analysis

Apex Biotechnology Corp.

(TWSE:1733)

Select Model

Rating:63Neutral

Price Target:TWD 31.00▲(8.58% Upside)

Action:initiatedcoverage

Date:11/09/26

Apex Biotechnology scores in the moderate range. Its greatest strength is financial resilience: near debt-free with equity funding about three-quarters of assets, steady profitability, a 27% rise in net income and free cash flow covering ~91% of earnings. Valuation reinforces the case, with a modest 15.3x P/E and a generous 4.5% dividend yield. However, the score is held back by weak technicals - the stock trades below all key moving averages with negative MACD momentum - and by underlying business softness: revenue remains below its 2022 peak, gross and operating margins are slipping, earnings are partly boosted by non-operating gains, operating and free cash flow halved year over year, and an 8.7% return on equity suggests the strong balance sheet is under-utilised. The result is a low-risk, income-oriented holding with limited growth momentum.

Positive Factors

Conservative balance sheetThe substantial reduction in leverage gives Apex greater financial flexibility and lowers balance-sheet risk over the next several quarters. Sizable equity relative to assets provides a stronger buffer against operating volatility and supports continued investment without relying heavily on additional borrowing.

Negative Factors

Severe revenue contractionThe sharp 2025 revenue contraction materially weakens confidence in near-term earnings durability and indicates that demand or commercial execution has been highly inconsistent. Even with positive margins, a smaller revenue base can reduce operating scale and constrain future cash generation.

Apex Biotechnology Corp. (1733) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 2.84B
Dividend Yield: 4.55%
Average Volume (3M): 109.46K
Price to Earnings (P/E): 15.0
Beta (1Y): 0.15
Revenue Growth: -8.15%
EPS Growth: 17.27%
Country: TW
Employees: 641
Sector: General
Sector Strength: 55
Industry: Biotechnology

Apex Biotechnology Corp. Business Overview & Revenue Model

Company Description

Apex Biotechnology Corp. is a Taiwanese firm that specializes in the global development, manufacturing, and distribution of medical devices designed for home use, all powered by sophisticated biosensor technology. Their comprehensive product lineup f...

Apex Biotechnology Corp. Financial Statement Overview

Summary

A very strong balance sheet (score 82) anchors the profile: debt-to-equity of just 0.08, equity funding ~77% of assets, and no meaningful refinancing or interest-rate risk. Earnings improved, with revenue up ~5% to NT$1.94bn and net income up ~27% to NT$163m (8.4% net margin), while free cash flow covered ~91% of net income, confirming good earnings quality. Offsetting this, the income statement (62) and cash flow (64) are weaker: revenue is still below its 2022 peak, gross and operating margins are drifting lower (27.7% and 7.2%), net income is flattered by non-operating items since EBIT of NT$141m is below reported profit, operating and free cash flow roughly halved year over year, and return on equity of 8.7% is modest given how little leverage is used.

Income Statement

62Positive

Balance Sheet

82Very Positive

Cash Flow

64Positive

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	1.87B	1.94B	1.85B	1.68B	2.24B	2.13B
Gross Profit	567.20M	538.74M	521.34M	531.12M	576.84M	571.51M
EBITDA	226.90M	201.65M	221.58M	221.06M	299.07M	289.65M
Net Income	190.55M	163.04M	128.00M	115.78M	181.78M	202.22M
Balance Sheet
Total Assets	2.55B	2.42B	2.42B	2.30B	2.51B	2.67B
Cash, Cash Equivalents and Short-Term Investments	814.85M	644.37M	598.78M	443.91M	397.53M	631.25M
Total Debt	144.11M	148.86M	166.16M	180.83M	243.91M	343.28M
Total Liabilities	690.93M	545.32M	595.70M	500.07M	696.81M	916.91M
Stockholders Equity	1.86B	1.87B	1.82B	1.80B	1.82B	1.75B
Cash Flow
Free Cash Flow	256.92M	148.88M	299.04M	205.41M	-13.58M	153.67M
Operating Cash Flow	277.65M	164.14M	328.67M	230.39M	26.62M	179.87M
Investing Cash Flow	-12.50M	-5.54M	-35.60M	-22.50M	-41.37M	-35.02M
Financing Cash Flow	-125.64M	-132.68M	-148.67M	-168.14M	-237.60M	-351.27M

Apex Biotechnology Corp. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:1733 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:1783	76Outperform	TWD 3.16B	9.18	―	5.67%	8.14%	29.10%
TW:1780	71Outperform	TWD 2.59B	8.03	―	5.27%	―	―
TW:1733	63Neutral	TWD 2.85B	15.03	―	4.55%	-8.15%	17.27%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
TW:6733	46Neutral	TWD 2.80B	-38.91	―	―	10.74%	21.61%
TW:6657	38Underperform	TWD 2.69B	-8.85	―	―	-4.36%	1.97%

* General Sector Average

Performance Comparison

TW:1733 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:1733	Apex Biotechnology Corp.	28.55	-1.39	-4.64%
TW:1780	Allied Biotech Corp	23.70	6.00	33.88%
TW:1783	Maxigen Biotech Inc.	35.25	-7.29	-17.13%
TW:6657	Energenesis Biomedical Co., Ltd.	30.00	-11.10	-27.01%
TW:6733	BioGend Therapeutics Co., Ltd.	20.85	-18.33	-46.78%
TW:6934	HCmed Innovations Co., Ltd.	73.20	3.90	5.63%

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

Apex Biotechnology Corp. AI Stock Analysis