Sanyang Motor Co., Ltd. AI Stock Analysis
Sanyang Motor Co., Ltd. (2206) AI Stock Analysis
Sanyang Motor Co., Ltd.
(TWSE:2206)
The score reflects a company with solid underlying profitability and cash generation that is showing signs of deterioration. Revenue, margins, earnings and free cash flow all declined in the latest year, while a debt-funded balance sheet expansion pushed leverage above 1.2x debt-to-equity and thinned the equity cushion — the primary drag on the score. Technicals reinforce the caution, with the price below its 20-, 50- and 100-day averages and a negative MACD, although it still sits above the 200-day average. The main offset is valuation: a 10.6x P/E and near-5% dividend yield provide a cushion for patient investors. The key question is whether the heavy capacity investment revives growth; if not, higher leverage and weaker cash conversion could pressure financial flexibility.
Sanyang Motor Co., Ltd. (2206) vs. SPDR S&P 500 ETF (SPY)
- Market Cap
- TWD 47.05B
- Dividend Yield
- 4.96%
- Average Volume (3M)
- 655.13K
- Price to Earnings (P/E)
- 10.5
- Beta (1Y)
- 0.05
- Revenue Growth
- -3.37%
- EPS Growth
- 2.68%
- Country
- TW
- Employees
- 1,939
- Sector
- General
- Sector Strength
- 55
- Industry
- Auto - Manufacturers
Sanyang Motor Co., Ltd. Business Overview & Revenue Model
Company Description
Sanyang Motor Co., Ltd. engages in the manufacture and sale of automobiles, motorcycles, and their components in Taiwan, China, Asia, Europe, and internationally. The company is involved in the provision of distribution, repair, and maintenance of au...
Sanyang Motor Co., Ltd. Financial Statement Overview
Summary
Sanyang Motor remains profitable and cash-generative, with a 17.2% return on equity and net income well backed by operating cash flow. However, the latest year marked a clear inflection: revenue fell about 5% to NT$62.6 billion after a strong multi-year run, operating margin compressed to 8.7% from 10.5% (13.2% in 2023), operating cash flow dropped to NT$4.47 billion and free cash flow fell roughly 41%. A large debt-funded asset build lifted debt-to-equity to 1.26x and cut the equity cushion to about 27% of assets, raising financial risk just as earnings momentum fades.
Income Statement
62PositiveBalance Sheet
53NeutralCash Flow
58Neutral| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 60.90B | 62.63B | 65.62B | 64.46B | 50.85B | 41.62B |
| Gross Profit | 11.43B | 12.34B | 13.38B | 13.41B | 9.72B | 7.93B |
| EBITDA | 6.35B | 7.16B | 8.40B | 9.92B | 4.80B | 3.64B |
| Net Income | 4.54B | 4.53B | 4.77B | 6.30B | 3.12B | 1.83B |
Balance Sheet | ||||||
| Total Assets | 97.64B | 97.14B | 68.26B | 62.78B | 57.08B | 46.53B |
| Cash, Cash Equivalents and Short-Term Investments | 7.65B | 18.03B | 17.41B | 9.82B | 14.34B | 11.44B |
| Total Debt | 31.44B | 33.23B | 24.92B | 22.90B | 23.85B | 18.01B |
| Total Liabilities | 55.70B | 54.84B | 39.67B | 37.38B | 36.83B | 29.71B |
| Stockholders Equity | 25.84B | 26.32B | 25.14B | 22.40B | 17.83B | 15.41B |
Cash Flow | ||||||
| Free Cash Flow | 4.25B | 2.38B | 4.05B | 4.97B | -244.38M | 184.90M |
| Operating Cash Flow | 6.28B | 4.47B | 6.64B | 6.93B | 2.03B | 1.44B |
| Investing Cash Flow | -3.42B | -3.69B | -4.55B | -3.64B | -3.58B | -1.94B |
| Financing Cash Flow | -3.98B | -205.47M | -762.43M | -2.31B | 4.50B | 455.00M |
Sanyang Motor Co., Ltd. Peers Comparison
Overall Rating
TW:220460Neutral- TW:220659Neutral
TW:220143Neutral
TW:225833Underperform
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| TW:2204 | 60Neutral | TWD 28.57B | 8.69 | ― | 7.03% | 10.21% | 12.47% |
| TW:2206 | 59Neutral | TWD 47.30B | 10.51 | ― | 4.96% | -3.37% | 2.68% |
| Sector * | 55Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
| TW:2201 | 43Neutral | TWD 28.37B | 29.33 | ― | 2.12% | -4.59% | -34.03% |
| TW:2258 | 33Underperform | TWD 49.47B | -10.85 | ― | ― | 5.67% | -45.00% |
* General Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| TW:2206 | Sanyang Motor Co., Ltd. | 61.60 | 3.62 | 6.23% | |
| TW:2201 | Yulon Motor Co.,Ltd | 26.40 | -12.29 | -31.77% | |
| TW:2204 | China Motor Corporation | 51.20 | -5.38 | -9.50% | |
| TW:2258 | Foxtron Vehicle Technologies Co., Ltd. | 28.10 | -12.95 | -31.55% |
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