NANTEX INDUSTRY CO LTD (2108) AI Stock Analysis

NANTEX INDUSTRY CO LTD

(TWSE:2108)

Select Model

Rating:64Neutral

Price Target:TWD 29.00▲(7.81% Upside)

Action:initiatedcoverage

Date:11/10/26

The score is supported primarily by the exceptionally conservative balance sheet and improving cash flow, with valuation providing additional support. These strengths are offset by declining profitability and broadly bearish technical trends.

Positive Factors

Very Low LeverageThe exceptionally low debt burden gives NANTEX substantial financial flexibility through industry cycles. A conservative capital structure reduces financing pressure, supports resilience during weaker demand, and preserves capacity to fund operations or strategic investments without relying heavily on additional borrowing.

Negative Factors

Declining RevenueThe 2025 revenue decline shows that recent demand or pricing conditions have not produced a sustained growth trajectory. Continued volatility can make capacity planning and earnings forecasting more difficult, limiting operating leverage and reducing confidence in near-term expansion of the revenue base.

NANTEX INDUSTRY CO LTD (2108) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 13.27B
Dividend Yield: 3.72%
Average Volume (3M): 741.19K
Price to Earnings (P/E): 14.2
Beta (1Y): 0.59
Revenue Growth: 12.61%
EPS Growth: 105.71%
Country: TW
Employees: 310
Sector: General
Sector Strength: 55
Industry: Chemicals - Specialty

NANTEX INDUSTRY CO LTD Business Overview & Revenue Model

Company Description

Nantex Industry Co., Ltd., a global enterprise operating with its subsidiaries, specializes in the production, processing, and distribution of a diverse range of latex, rubber, and associated materials. Their product portfolio includes NANTEX synthet...

NANTEX INDUSTRY CO LTD Financial Statement Overview

Summary

A very strong balance sheet and improving cash generation offset declining revenue, weaker margins, and low return on equity. The underlying financial profile is stable but operationally challenged.

Income Statement

45Neutral

Balance Sheet

92Very Positive

Cash Flow

75Positive

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	10.70B	9.55B	11.36B	8.94B	11.67B	23.52B
Gross Profit	2.84B	2.02B	2.26B	2.10B	3.08B	12.24B
EBITDA	1.86B	1.06B	1.73B	1.61B	2.62B	10.11B
Net Income	876.64M	410.49M	562.47M	714.04M	1.19B	7.35B
Balance Sheet
Total Assets	19.20B	18.36B	18.25B	17.11B	17.40B	20.75B
Cash, Cash Equivalents and Short-Term Investments	11.20B	11.10B	10.68B	10.30B	10.39B	13.41B
Total Debt	308.37M	243.35M	318.60M	414.67M	315.56M	295.40M
Total Liabilities	2.37B	1.88B	2.16B	1.87B	2.08B	4.00B
Stockholders Equity	14.75B	14.44B	14.77B	14.14B	14.42B	16.21B
Cash Flow
Free Cash Flow	1.45B	1.05B	575.18M	1.03B	28.21M	8.64B
Operating Cash Flow	1.77B	1.47B	845.56M	1.26B	313.75M	9.16B
Investing Cash Flow	-2.50B	-1.28B	1.37B	629.09M	-775.97M	-930.32M
Financing Cash Flow	-492.15M	-559.22M	-680.08M	-1.07B	-3.29B	-2.02B

NANTEX INDUSTRY CO LTD Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:2108 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:1307	65Neutral	TWD 11.38B	8.46	―	7.76%	4.29%	-2.73%
TW:2108	64Neutral	TWD 13.32B	14.16	―	3.72%	12.61%	105.71%
TW:1714	60Neutral	TWD 15.46B	13.73	―	1.11%	48.25%	238.60%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
TW:2106	48Neutral	TWD 14.75B	46.63	―	4.33%	4.27%	15.53%
TW:1304	46Neutral	TWD 12.12B	-6.20	―	1.32%	-9.36%	30.01%
TW:1313	40Underperform	TWD 15.17B	78.33	―	0.85%	-0.93%	―

* General Sector Average

Performance Comparison

TW:2108 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:2108	NANTEX INDUSTRY CO LTD	26.90	4.47	19.94%
TW:1304	USI Corporation	11.40	0.23	2.03%
TW:1307	San Fang Chemical Industry Co., Ltd.	28.35	-3.47	-10.89%
TW:1313	UPC Technology Corporation	11.75	1.34	12.88%
TW:1714	Ho Tung Chemical Corp.	16.20	7.85	94.04%
TW:2106	Kenda Rubber Industrial Co., Ltd	15.00	-5.43	-26.57%

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

NANTEX INDUSTRY CO LTD AI Stock Analysis