YC Inox Co.,Ltd (2034) AI Stock Analysis

YC Inox Co.,Ltd

(TWSE:2034)

Select Model

Rating:44Neutral

Price Target:TWD 21.00▼(-14.29% Downside)

Action:initiatedcoverage

Date:11/10/26

The overall score is driven primarily by weak financial performance, including negative free cash flow, low margins, declining revenue, and rising leverage. Weak technical momentum and a high P/E ratio further weigh on the score, although the dividend yield and price position above the 100-day and 200-day averages provide limited support.

Positive Factors

Industrial ApplicationsThe company serves several established downstream uses that require corrosion-resistant steel inputs. This application breadth supports a durable industrial franchise and gives YC Inox multiple avenues for demand, even though overall steel-market conditions remain cyclical.

Negative Factors

Revenue ContractionMulti-year revenue contraction indicates that weaker demand or pricing conditions are not limited to a single reporting period. Persistent top-line pressure can reduce fixed-cost absorption, restrict investment capacity, and make a durable recovery in profitability more difficult.

YC Inox Co.,Ltd (2034) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 12.91B
Dividend Yield: 4.08%
Average Volume (3M): 2.84M
Price to Earnings (P/E): 57.9
Beta (1Y): 0.49
Revenue Growth: -7.08%
EPS Growth: ―
Country: TW
Employees: 913
Sector: General
Sector Strength: 55
Industry: Steel

YC Inox Co.,Ltd Business Overview & Revenue Model

Company Description

YC Inox Co., Ltd., a company founded in 1973 and based in Changhua City, Taiwan, specializes in the production, fabrication, and global trade of stainless steel materials. The firm's market reach extends across Asia, Europe, the United States, and va...

YC Inox Co.,Ltd Financial Statement Overview

Summary

Financial performance remains weak: profitability returned in 2025, but revenue declined, margins and return on equity were low, debt increased, and free cash flow remained negative. The score reflects the provided income statement, balance sheet, and cash flow scores, constrained to the required range.

Income Statement

35Negative

Balance Sheet

48Neutral

Cash Flow

28Negative

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	11.88B	12.54B	14.52B	15.23B	16.84B	17.78B
Gross Profit	1.11B	1.07B	1.73B	1.10B	2.18B	2.89B
EBITDA	981.53M	760.11M	446.01M	698.94M	1.10B	2.04B
Net Income	221.05M	107.58M	-103.49M	-169.81M	518.28M	1.26B
Balance Sheet
Total Assets	23.94B	21.94B	22.48B	18.31B	19.66B	19.08B
Cash, Cash Equivalents and Short-Term Investments	1.12B	1.18B	1.09B	886.85M	1.20B	1.66B
Total Debt	12.91B	11.12B	10.04B	8.31B	7.65B	7.25B
Total Liabilities	14.94B	12.26B	11.97B	9.36B	9.25B	9.68B
Stockholders Equity	9.00B	9.68B	10.51B	8.95B	10.42B	9.40B
Cash Flow
Free Cash Flow	-927.36M	-650.80M	-2.02B	-276.02M	241.20M	-2.69B
Operating Cash Flow	-304.66M	306.98M	-222.13M	939.31M	1.61B	-1.59B
Investing Cash Flow	-566.08M	-926.82M	-1.73B	-1.09B	-1.38B	-1.62B
Financing Cash Flow	1.18B	713.55M	2.38B	526.80M	-266.12M	3.59B

YC Inox Co.,Ltd Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:2034 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:1608	60Neutral	TWD 13.41B	4.42	―	6.45%	14.90%	43.20%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
TW:3162	50Neutral	TWD 11.07B	105.25	―	1.12%	36.58%	-66.59%
TW:1563	47Neutral	TWD 11.11B	36.03	―	7.64%	3.41%	-5.16%
TW:2009	44Neutral	TWD 12.10B	33.24	―	1.18%	14.59%	476.02%
TW:2034	44Neutral	TWD 12.51B	57.85	―	4.08%	-7.08%	―
TW:2035	38Underperform	TWD 9.59B	-16.77	―	―	-11.75%	63.69%

* General Sector Average

Performance Comparison

TW:2034 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:2034	YC Inox Co.,Ltd	24.50	5.89	31.67%
TW:1563	SuperAlloy Industrial Co., Ltd.	67.60	12.72	23.18%
TW:1608	Hua Eng Wire & Cable Co., Ltd.	31.00	-4.00	-11.43%
TW:2009	First Copper Technology Co., Ltd.	34.00	-8.33	-19.69%
TW:2035	Tang Eng Iron Works Co., Ltd.	27.50	-1.25	-4.35%
TW:3162	United Alloy-Tech Company Ltd	77.40	21.70	38.95%

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 10, 2026

YC Inox Co.,Ltd AI Stock Analysis