Sheng Yu Steel Co., Ltd. (2029) AI Stock Analysis

Sheng Yu Steel Co., Ltd.

(TWSE:2029)

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Rating:59Neutral

Price Target:TWD 21.50▲(0.47% Upside)

Action:initiatedcoverage

Date:11/10/26

The overall score is constrained by significant headwinds. The primary negative factor is the weak technical trend, with the stock trading below key moving averages and showing bearish momentum. This is compounded by a deteriorating income statement marked by falling revenue and profit margins. On the positive side, the company's fortress-like balance sheet with almost no debt provides crucial stability, and the attractive dividend yield offers some compensation for investors during this cyclical downturn.

Positive Factors

Very Low LeverageA very low debt burden gives Sheng Yu Steel substantial flexibility during steel-market downturns and reduces refinancing and interest-cost pressure. The conservative capital structure can support continued operations, customer service, and selective investment even when industry profitability is under pressure.

Negative Factors

Volatile and Declining RevenueRepeated revenue weakness and large year-to-year swings indicate that demand and sales growth remain exposed to the steel cycle. This limits operating leverage, makes planning less predictable, and can prevent fixed costs and production capacity from being efficiently absorbed over the next several quarters.

Sheng Yu Steel Co., Ltd. (2029) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 6.92B
Dividend Yield: 2.80%
Average Volume (3M): 325.18K
Price to Earnings (P/E): 10.9
Beta (1Y): 0.19
Revenue Growth: -11.60%
EPS Growth: 86.89%
Country: TW
Employees: 640
Sector: General
Sector Strength: 55
Industry: Steel

Sheng Yu Steel Co., Ltd. Business Overview & Revenue Model

Company Description

Sheng Yu Steel Co., Ltd. is a Taiwanese enterprise primarily engaged in the production, processing, and distribution of a diverse range of steel sheets. Their extensive product portfolio includes various galvanized steel options, such as Al-Zn alloy-...

Sheng Yu Steel Co., Ltd. Financial Statement Overview

Summary

Financial performance is mixed. The balance sheet is exceptionally strong (Score 85) with minimal debt, providing a solid foundation. However, the income statement is weak (Score 35) due to declining revenue and compressed margins. Strong cash flow generation (Score 70) partially offsets the earnings weakness, resulting in a moderate overall financial score.

Income Statement

35Negative

Balance Sheet

85Very Positive

Cash Flow

70Positive

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	12.53B	13.27B	13.69B	12.39B	12.80B	14.36B
Gross Profit	1.55B	1.37B	1.31B	1.36B	1.21B	2.15B
EBITDA	674.98M	538.68M	1.04B	1.05B	965.80M	1.89B
Net Income	384.18M	239.10M	581.23M	627.35M	505.18M	1.26B
Balance Sheet
Total Assets	11.74B	11.32B	11.51B	10.91B	10.63B	11.76B
Cash, Cash Equivalents and Short-Term Investments	5.21B	5.18B	4.83B	5.13B	4.50B	4.08B
Total Debt	182.65M	204.37M	162.26M	67.99M	159.47M	247.18M
Total Liabilities	1.44B	1.16B	1.23B	893.17M	848.69M	1.79B
Stockholders Equity	10.20B	10.08B	10.21B	9.95B	9.72B	9.90B
Cash Flow
Free Cash Flow	501.68M	732.62M	29.65M	1.06B	1.22B	43.73M
Operating Cash Flow	847.04M	1.10B	397.82M	1.23B	1.42B	210.98M
Investing Cash Flow	-1.16B	-499.64M	-1.69B	-214.07M	-571.35M	-157.53M
Financing Cash Flow	-433.68M	-368.36M	-320.20M	-421.30M	-871.95M	-125.01M

Sheng Yu Steel Co., Ltd. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:2029 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:1618	68Neutral	TWD 6.64B	6.80	―	5.01%	-6.86%	16.94%
TW:2029	59Neutral	TWD 6.79B	10.86	―	2.80%	-11.60%	86.89%
TW:2008	58Neutral	TWD 5.91B	47.79	―	3.24%	-10.54%	4.20%
TW:9905	58Neutral	TWD 6.36B	12.07	―	5.24%	21.06%	36.11%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
TW:2020	53Neutral	TWD 5.87B	10.60	―	8.16%	2.35%	1.68%
TW:2030	49Neutral	TWD 7.18B	9.21	―	1.99%	9.86%	784.60%

* General Sector Average

Performance Comparison

TW:2029 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:2029	Sheng Yu Steel Co., Ltd.	21.40	1.29	6.43%
TW:1618	Hold-Key Electric Wire & Cable Co., Ltd	33.95	-7.34	-17.78%
TW:2008	Kao Hsing Chang Iron & Steel Corporation	30.90	4.08	15.21%
TW:2020	Mayer Steel Pipe Corporation	22.05	0.42	1.93%
TW:2030	Froch Enterprise Co., Ltd.	25.15	11.53	84.60%
TW:9905	Great China Metal Industry Co., Ltd.	21.00	2.03	10.72%

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

Sheng Yu Steel Co., Ltd. AI Stock Analysis