Yulon Motor Co.,Ltd (2201) AI Stock Analysis

Yulon Motor Co.,Ltd

(TWSE:2201)

Select Model

Rating:45Neutral

Price Target:TWD 26.00▼(-1.52% Downside)

Action:initiatedcoverage

Date:11/10/26

The score is driven primarily by below-average financial performance, especially high leverage, weak returns, and deteriorating earnings. Technical indicators confirm a weak trend despite oversold conditions, while the relatively high P/E limits valuation support.

Positive Factors

Positive Cash GenerationThe return to solidly positive operating and free cash flow in 2024 and 2025 improves internal funding capacity and supports ongoing operations without relying entirely on external financing. This is a meaningful strength if maintained across future reporting periods.

Negative Factors

High LeverageDebt several times greater than equity leaves Yulon with limited financial flexibility and makes the business more sensitive to weaker earnings. Because cash flow remains modest relative to the debt load, a renewed profit downturn could constrain investment and slow meaningful deleveraging.

Yulon Motor Co.,Ltd (2201) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 28.37B
Dividend Yield: 2.12%
Average Volume (3M): 3.35M
Price to Earnings (P/E): 29.3
Beta (1Y): 0.38
Revenue Growth: -4.59%
EPS Growth: -34.03%
Country: TW
Employees: 1,236
Sector: General
Sector Strength: 55
Industry: Auto - Manufacturers

Yulon Motor Co.,Ltd Business Overview & Revenue Model

Company Description

Headquartered in Miaoli, Taiwan, Yulon Motor Company Ltd. is a multifaceted enterprise established in 1953. Initially known as Yulon Machinery Manufacturing Co., Ltd., it adopted its current name in September 1960. The company's primary focus lies in...

Yulon Motor Co.,Ltd Financial Statement Overview

Summary

Financial performance is below average: weakening revenue and profitability, high leverage, low return on equity, and declining free cash flow outweigh positive cash generation and improved debt-to-equity.

Income Statement

45Neutral

Balance Sheet

38Negative

Cash Flow

52Neutral

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	71.16B	72.36B	85.78B	82.12B	77.08B	78.00B
Gross Profit	22.65B	23.34B	26.88B	28.86B	27.46B	23.37B
EBITDA	16.68B	17.27B	21.91B	23.41B	12.86B	18.41B
Net Income	948.35M	979.01M	3.95B	4.69B	-1.19B	7.74B
Balance Sheet
Total Assets	368.56B	366.95B	377.82B	387.74B	360.43B	323.86B
Cash, Cash Equivalents and Short-Term Investments	18.84B	19.14B	20.74B	20.41B	22.39B	22.82B
Total Debt	237.17B	237.37B	249.42B	261.36B	251.24B	221.75B
Total Liabilities	273.43B	273.04B	283.70B	298.99B	287.92B	253.16B
Stockholders Equity	64.43B	63.25B	64.05B	59.91B	48.13B	52.65B
Cash Flow
Free Cash Flow	12.41B	16.31B	16.76B	-14.93B	-31.26B	-22.18B
Operating Cash Flow	13.40B	19.03B	19.41B	-13.01B	-29.98B	-20.20B
Investing Cash Flow	-8.08B	-6.07B	-2.78B	-5.74B	-2.73B	-2.61B
Financing Cash Flow	-7.92B	-14.26B	-19.63B	17.96B	34.56B	18.15B

Yulon Motor Co.,Ltd Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:2201 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:6605	70Outperform	TWD 21.39B	7.94	―	4.85%	0.52%	23.32%
TW:2204	60Neutral	TWD 28.57B	8.69	―	7.03%	10.21%	12.47%
TW:6592	57Neutral	TWD 35.62B	10.71	―	5.40%	-5.16%	34.90%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
TW:2101	50Neutral	TWD 20.27B	4.94	―	4.69%	123.93%	―
TW:2201	45Neutral	TWD 28.37B	29.33	―	2.12%	-4.59%	-34.03%
TW:8033	41Neutral	TWD 23.05B	436.36	―	―	14.04%	-65.02%

* General Sector Average

Performance Comparison

TW:2201 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:2201	Yulon Motor Co.,Ltd	26.40	-16.12	-37.90%
TW:2101	Nankang Rubber Tire Corp., Ltd.	27.70	-7.47	-21.24%
TW:2204	China Motor Corporation	51.20	-5.75	-10.09%
TW:6592	Hotai Finance Co., Ltd.	55.60	-1.77	-3.09%
TW:6605	Depo Auto Parts Industrial Co. Ltd.	134.00	-0.16	-0.12%
TW:8033	Thunder Tiger Corp.	143.00	25.12	21.31%

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

Yulon Motor Co.,Ltd AI Stock Analysis