Winbond Electronics Corp. AI Stock Analysis
Winbond Electronics Corp. (2344) AI Stock Analysis
Winbond Electronics Corp.
(TWSE:2344)
Winbond scores modestly above the low end of the range. The fundamentals are the main support: a credible recovery in revenue, margins and profits, lower leverage at 0.50 debt-to-equity, and free cash flow back in positive territory. Offsetting this is sharply negative technical momentum — the stock sits well below all major moving averages with a deeply negative MACD — alongside thin returns on equity, a low 4.4% net margin and high sensitivity to memory pricing cycles. A low P/E of 8.0 provides valuation cushion, but the minimal dividend yield and weak price trend keep the overall score near the middle of the range.
Winbond Electronics Corp. (2344) vs. SPDR S&P 500 ETF (SPY)
- Market Cap
- TWD 596.25B
- Dividend Yield
- 0.37%
- Average Volume (3M)
- 101.93M
- Price to Earnings (P/E)
- 8.4
- Beta (1Y)
- 1.85
- Revenue Growth
- 154.14%
- EPS Growth
- ―
- Country
- TW
- Employees
- 7,942
- Sector
- General
- Sector Strength
- 55
- Industry
- Semiconductors
Winbond Electronics Corp. Business Overview & Revenue Model
Company Description
Winbond Electronics Corporation is a global enterprise specializing in the entire lifecycle of very large scale integration (VLSI) integrated circuits (ICs). This encompasses the design, development, manufacturing, and worldwide distribution of these...
Winbond Electronics Corp. Financial Statement Overview
Summary
Winbond is recovering from a deep memory downturn: revenue rose ~9.7% to NT$89.4bn, gross margin widened to 34.9% from 29.4%, and net income rebounded to NT$3.96bn. The balance sheet is the strongest pillar, with equity up to NT$107.9bn, debt trimmed to NT$54.2bn and debt-to-equity improving to 0.50. Cash flow quality is sound — operating cash flow of NT$11.2bn exceeds net income and free cash flow turned positive (NT$4.3bn) after three years of outflows. However, profitability remains far below the 2021–22 peak, net margin is a thin 4.4%, ROE is only 3.7%, and the heavy fixed-asset and debt base leaves the company highly exposed to memory pricing swings.
Income Statement
56NeutralBalance Sheet
62PositiveCash Flow
58Neutral| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 146.49B | 89.41B | 81.61B | 75.01B | 94.53B | 99.57B |
| Gross Profit | 80.53B | 31.20B | 24.00B | 22.40B | 43.05B | 42.48B |
| EBITDA | 62.25B | 18.68B | 15.01B | 12.15B | 28.22B | 30.66B |
| Net Income | 40.80B | 3.96B | 601.00M | -1.15B | 12.93B | 13.59B |
Balance Sheet | ||||||
| Total Assets | 293.03B | 192.19B | 177.78B | 190.79B | 184.16B | 152.74B |
| Cash, Cash Equivalents and Short-Term Investments | 81.13B | 29.08B | 22.62B | 30.13B | 35.21B | 42.11B |
| Total Debt | 70.53B | 54.24B | 55.30B | 58.20B | 50.82B | 28.54B |
| Total Liabilities | 119.49B | 78.06B | 78.62B | 90.33B | 81.43B | 62.71B |
| Stockholders Equity | 165.01B | 107.94B | 91.65B | 92.30B | 94.16B | 82.44B |
Cash Flow | ||||||
| Free Cash Flow | 32.30B | 4.31B | -6.41B | -10.52B | -26.85B | 20.24B |
| Operating Cash Flow | 44.02B | 11.18B | 11.13B | 3.60B | 15.70B | 30.38B |
| Investing Cash Flow | -11.99B | -7.66B | -16.66B | -13.03B | -44.48B | -8.60B |
| Financing Cash Flow | 9.27B | -1.56B | 2.53B | 6.35B | 17.88B | -1.79B |
Winbond Electronics Corp. Peers Comparison
Overall Rating
TW:245182Outperform
TW:300677Outperform
TW:653175Outperform
TW:829963Neutral- TW:234455Neutral
TW:677037Underperform
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| TW:2451 | 82Outperform | TWD 100.50B | 4.03 | ― | 5.06% | 331.33% | 997.91% |
| TW:3006 | 77Outperform | TWD 64.15B | 3.33 | ― | 0.44% | 272.74% | ― |
| TW:6531 | 75Outperform | TWD 118.72B | 42.00 | ― | 0.96% | 91.95% | 230.68% |
| TW:8299 | 63Neutral | TWD 370.45B | 4.76 | ― | 1.38% | 248.23% | 1001.73% |
| Sector * | 55Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
| TW:2344 | 55Neutral | TWD 607.50B | 8.39 | ― | 0.37% | 154.14% | ― |
| TW:6770 | 37Underperform | TWD 278.96B | 17.65 | ― | 0.39% | 42.62% | ― |
* General Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| TW:2344 | Winbond Electronics Corp. | 135.00 | 71.13 | 111.38% | |
| TW:2451 | Transcend Information, Inc. | 233.00 | 25.66 | 12.37% | |
| TW:3006 | Elite Semiconductor Microelectronics Technology Inc. | 225.50 | 130.65 | 137.74% | |
| TW:6531 | AP Memory Technology Corp. | 730.00 | 326.27 | 80.81% | |
| TW:6770 | Powerchip Semiconductor Manufacturing Corp. | 59.20 | 23.67 | 66.61% | |
| TW:8299 | Phison Electronics Corp. | 1675.00 | 376.76 | 29.02% |
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