Fulltech Fiber Glass Corp. (1815) AI Stock Analysis

Fulltech Fiber Glass Corp.

(TPEx:1815)

Select Model

Rating:63Neutral

Price Target:TWD 125.00▼(-11.03% Downside)

Action:initiatedcoverage

Date:11/10/26

Financial performance is the primary driver with solid profitability rebound and balance sheet deleveraging, partially offset by cash flow pressures; technical indicators contribute moderately amid mixed trends while valuation metrics limit upside due to elevated P/E and low yield.

Positive Factors

Profitability ReboundThe sharp return to positive earnings and solid 2025 margins shows meaningful operating recovery in the fiberglass business. If these margins persist, stronger earnings can support reinvestment, improve resilience, and provide a better foundation for compounding over the next several quarters.

Negative Factors

Persistently Negative Free Cash FlowOngoing negative free cash flow means reported profitability has not yet translated into cash available after investment needs. Continued cash burn could constrain reinvestment, dividends, or debt reduction and may require tighter capital allocation if the pattern persists over the next several quarters.

Fulltech Fiber Glass Corp. (1815) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 85.36B
Dividend Yield: 0.36%
Average Volume (3M): 84.56M
Price to Earnings (P/E): 33.4
Beta (1Y): 1.03
Revenue Growth: 48.55%
EPS Growth: 293.99%
Country: TW
Employees: 1,067
Sector: General
Sector Strength: 55
Industry: Hardware, Equipment & Parts

Fulltech Fiber Glass Corp. Business Overview & Revenue Model

Company Description

Fulltech Fiber Glass Corporation, a Taiwanese company headquartered in Taipei, manufactures and distributes fiberglass yarn and fabrics. Its versatile fiberglass yarn is employed across numerous applications, from the creation of fiberglass fabrics a...

Fulltech Fiber Glass Corp. Financial Statement Overview

Summary

Income statement shows strong recovery with revenue at 5.97 billion and gross margins at 27.6%, balance sheet strengthened with debt-to-equity at 0.36, though cash flow remains weak due to negative free cash flow of -1.71 billion from heavy capex.

Income Statement

82Very Positive

Balance Sheet

85Very Positive

Cash Flow

48Neutral

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	7.18B	5.97B	4.25B	3.20B	4.65B	5.26B
Gross Profit	2.39B	1.65B	613.80M	-12.23M	836.64M	1.41B
EBITDA	2.97B	2.15B	969.88M	50.52M	941.70M	1.58B
Net Income	2.02B	856.54M	62.89M	-651.20M	31.52M	601.35M
Balance Sheet
Total Assets	21.46B	18.45B	15.14B	13.47B	14.06B	14.74B
Cash, Cash Equivalents and Short-Term Investments	3.20B	2.35B	1.63B	1.56B	1.62B	1.36B
Total Debt	5.88B	4.52B	6.23B	6.19B	5.82B	6.38B
Total Liabilities	7.76B	5.85B	7.39B	6.88B	6.66B	7.29B
Stockholders Equity	13.70B	12.60B	7.75B	6.59B	7.39B	7.45B
Cash Flow
Free Cash Flow	-2.07B	-1.71B	-1.01B	-552.25M	1.23B	928.09M
Operating Cash Flow	1.46B	694.71M	269.09M	-130.53M	1.55B	1.17B
Investing Cash Flow	-4.01B	-2.33B	-1.39B	-364.03M	-307.38M	-276.15M
Financing Cash Flow	3.07B	2.25B	1.03B	416.24M	-964.72M	-669.56M

Fulltech Fiber Glass Corp. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:1815 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:4766	72Outperform	TWD 41.72B	14.59	―	5.29%	2.93%	9.20%
TW:1815	63Neutral	TWD 78.68B	33.37	―	0.36%	48.55%	293.99%
TW:8039	60Neutral	TWD 56.59B	73.94	―	0.88%	2.53%	118.11%
TW:6672	58Neutral	TWD 41.33B	72.55	―	0.64%	54.27%	161.52%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
TW:5469	54Neutral	TWD 35.64B	14.80	―	3.30%	31.04%	-20.68%
TW:1717	48Neutral	TWD 74.84B	33.16	―	1.58%	-1.57%	36.18%

* General Sector Average

Performance Comparison

TW:1815 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:1815	Fulltech Fiber Glass Corp.	140.50	53.98	62.39%
TW:1717	Eternal Materials Co., Ltd.	63.00	23.49	59.47%
TW:4766	Nan Pao Resins Chemical Co. Ltd.	340.00	13.12	4.01%
TW:5469	HannStar Board Corp.	76.50	-16.41	-17.66%
TW:6672	Ventec International Group Co., Ltd.	525.00	434.49	480.07%
TW:8039	TAIFLEX Scientific Co., Ltd.	227.00	159.20	234.80%

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

Fulltech Fiber Glass Corp. AI Stock Analysis