I Yuan Precision Industrial Co. Ltd. (2235) AI Stock Analysis

I Yuan Precision Industrial Co. Ltd.

(TPEx:2235)

Select Model

Rating:64Neutral

Price Target:TWD 34.00▲(19.72% Upside)

Action:initiatedcoverage

Date:11/09/26

I Yuan Precision earns a moderate score. The dominant factor is a mixed financial profile: an exceptionally safe, nearly debt-free balance sheet and growing free cash flow are undermined by shrinking revenue, sharp margin compression and a return on equity below 3%. Technicals are the brightest spot, with the share price above all key moving averages and positive MACD momentum, although momentum indicators are approaching stretched territory. Valuation is a modest drag: a 23.6x P/E on falling earnings is offset by a generous 4.7% dividend yield that the balance sheet can comfortably support. The shares look like a low-risk, income-oriented holding, but a re-rating likely requires evidence that sales and margins have bottomed.

Positive Factors

Conservative LeverageVery low leverage gives the company financial flexibility through a weaker earnings period and reduces exposure to interest and refinancing pressure. A substantial equity base can also support continued operations or selective investment without relying heavily on additional borrowing.

Negative Factors

Revenue ContractionA flat-to-declining revenue trajectory signals limited near-term expansion in demand for the company’s precision components and services. Persistent top-line weakness can reduce operating leverage, constrain investment capacity, and make recovery dependent on winning additional business.

I Yuan Precision Industrial Co. Ltd. (2235) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 1.04B
Dividend Yield: 5.28%
Average Volume (3M): 8,798
Price to Earnings (P/E): 21.0
Beta (1Y): 0.04
Revenue Growth: -7.77%
EPS Growth: 4.84%
Country: TW
Employees: 202
Sector: General
Sector Strength: 55
Industry: Auto - Parts

I Yuan Precision Industrial Co. Ltd. Business Overview & Revenue Model

Company Description

I Yuan Precision Industrial Co., Ltd. functions as a comprehensive automotive component supplier, engaging in the manufacturing, processing, distribution, and international trade of its products. Its market reach extends across Taiwan, Asia, the Amer...

I Yuan Precision Industrial Co. Ltd. Financial Statement Overview

Summary

A fortress balance sheet (score 82) offsets a weakening income statement (score 40). The company is effectively debt-free with a 0.04 debt-to-equity ratio and equity funding roughly 87% of assets, while cash flow (score 72) improved with operating cash flow up ~19% to NT$102.5M and free cash flow up ~22% to NT$76.1M. However, revenue fell ~3.9% to NT$555.9M and is down ~23% from the 2022 peak, gross margin compressed to 18.4% from 23.5%, operating margin collapsed to 8.0% from 20.1%, and net income dropped ~64%, dragging return on equity to just 2.8%. Financial strength is defensive rather than value-creating.

Income Statement

40Negative

Balance Sheet

82Very Positive

Cash Flow

72Positive

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	568.31M	555.89M	591.46M	586.47M	723.01M	704.88M
Gross Profit	84.73M	102.11M	138.95M	142.72M	186.92M	157.72M
EBITDA	100.94M	103.82M	183.59M	131.72M	286.38M	143.52M
Net Income	48.64M	34.24M	95.85M	86.80M	164.71M	51.09M
Balance Sheet
Total Assets	1.44B	1.41B	1.52B	1.72B	2.14B	2.13B
Cash, Cash Equivalents and Short-Term Investments	136.65M	126.75M	171.05M	338.19M	715.47M	615.93M
Total Debt	39.49M	45.89M	58.53M	200.46M	555.93M	683.42M
Total Liabilities	242.09M	179.00M	217.26M	417.15M	787.46M	889.73M
Stockholders Equity	1.20B	1.23B	1.31B	1.30B	1.36B	1.24B
Cash Flow
Free Cash Flow	45.61M	76.07M	63.39M	146.41M	282.16M	156.45M
Operating Cash Flow	82.31M	102.52M	86.22M	168.81M	300.21M	197.40M
Investing Cash Flow	-115.84M	7.69M	-85.92M	233.74M	907.00K	-331.89M
Financing Cash Flow	-120.37M	-120.27M	-231.67M	-506.52M	-183.43M	384.50M

I Yuan Precision Industrial Co. Ltd. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:2235 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:2235	64Neutral	TWD 1.02B	21.04	―	5.28%	-7.77%	4.84%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
TW:8928	46Neutral	TWD 1.04B	8.19	―	3.91%	-12.55%	122.09%
TW:2230	40Underperform	TWD 1.29B	-8.86	―	3.20%	-4.47%	-514.66%
TW:6680	40Underperform	TWD 1.23B	52.20	―	6.02%	11.10%	-7.06%
TW:3541	37Underperform	TWD 1.25B	70.26	―	―	0.16%	―

* General Sector Average

Performance Comparison

TW:2235 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:2235	I Yuan Precision Industrial Co. Ltd.	28.40	-3.81	-11.83%
TW:2230	C.T.I. Traffic Industries Co., Ltd.	19.00	-82.52	-81.28%
TW:3541	Cypress Technology Co. Ltd.	22.30	-1.25	-5.31%
TW:6638	Goldtek Technology Co., Ltd.	41.00	10.90	36.21%
TW:6680	SINTRONES Technology Corp.	49.20	-22.45	-31.34%
TW:8928	Dynamic Precision Industry Corp.	20.45	-6.08	-22.91%

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

I Yuan Precision Industrial Co. Ltd. AI Stock Analysis