Clevo Co. (2362) AI Stock Analysis

Clevo Co.

(TWSE:2362)

Select Model

Rating:54Neutral

Price Target:TWD 42.00▲(0.96% Upside)

Action:initiatedcoverage

Date:11/10/26

Weak financial trends and bearish technical conditions outweigh the attractive valuation. The low P/E and high dividend yield provide meaningful support, but negative cash flow, declining earnings, and price weakness keep the overall score moderate.

Positive Factors

Improving Gross MarginThe higher gross margin indicates improved economics in Clevo’s hardware operations despite a weaker top line. If sustained, this provides greater flexibility to absorb pricing pressure, support product investment, and preserve operating profitability through changing notebook demand cycles.

Negative Factors

Revenue ContractionThe material revenue decline signals weaker demand, shipment levels, or product mix and reduces the scale available to cover fixed operating costs. Continued top-line pressure would make it harder to sustain earnings growth, strengthen customer relationships, and benefit from operating leverage.

Clevo Co. (2362) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 23.41B
Dividend Yield: 4.81%
Average Volume (3M): 866.50K
Price to Earnings (P/E): 6.9
Beta (1Y): 0.61
Revenue Growth: -0.99%
EPS Growth: 91.52%
Country: TW
Employees: 4,821
Sector: General
Sector Strength: 55
Industry: Computer Hardware

Clevo Co. Business Overview & Revenue Model

Company Description

Clevo Co. operates globally as an original design manufacturer (ODM) and original equipment manufacturer (OEM), providing hardware solutions primarily for notebooks, tablets, and all-in-one PCs, catering to segments like gaming, entertainment, and mo...

Clevo Co. Financial Statement Overview

Summary

Profitability and the balance sheet remain adequate, but declining revenue and earnings, higher leverage, and negative operating and free cash flow create significant financial weakness.

Income Statement

55Neutral

Balance Sheet

58Neutral

Cash Flow

30Negative

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	22.12B	20.40B	26.58B	24.38B	22.20B	26.99B
Gross Profit	4.34B	4.57B	5.27B	4.89B	4.94B	5.32B
EBITDA	2.04B	1.87B	3.03B	2.05B	2.02B	2.37B
Net Income	3.51B	1.19B	1.77B	1.06B	824.53M	1.80B
Balance Sheet
Total Assets	110.07B	100.81B	100.27B	94.43B	94.17B	91.29B
Cash, Cash Equivalents and Short-Term Investments	14.68B	12.25B	12.84B	10.22B	9.26B	6.35B
Total Debt	44.09B	39.94B	37.43B	35.10B	34.14B	31.71B
Total Liabilities	63.15B	57.45B	55.74B	53.24B	52.38B	49.98B
Stockholders Equity	46.92B	43.36B	44.53B	41.18B	41.79B	41.31B
Cash Flow
Free Cash Flow	-575.78M	-661.44M	2.40B	280.97M	3.05B	355.01M
Operating Cash Flow	-421.77M	-395.72M	2.57B	505.51M	3.19B	514.69M
Investing Cash Flow	-1.15B	148.62M	-625.04M	-2.53B	-893.57M	4.21B
Financing Cash Flow	4.92B	678.89M	830.50M	316.23M	823.42M	-5.99B

Clevo Co. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:2362 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:3617	73Outperform	TWD 24.35B	11.88	―	3.87%	4.07%	17.47%
TW:3515	67Neutral	TWD 25.14B	13.11	―	5.41%	24.91%	21.20%
TW:2374	62Neutral	TWD 17.71B	15.10	―	3.80%	55.45%	87.51%
TW:6166	56Neutral	TWD 19.80B	17.67	―	1.32%	31.89%	141.45%
TW:6579	56Neutral	TWD 22.88B	13.42	―	2.78%	27.97%	109.74%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
TW:2362	54Neutral	TWD 23.62B	6.85	―	4.81%	-0.99%	91.52%

* General Sector Average

Performance Comparison

TW:2362 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:2362	Clevo Co.	41.60	1.04	2.56%
TW:2374	Ability Enterprise Co., Ltd.	52.40	-31.71	-37.70%
TW:3515	ASRock Incorporation	203.50	-66.67	-24.68%
TW:3617	CyberPower Systems, Inc.	257.00	54.96	27.20%
TW:6166	Adlink Technology Inc.	90.90	33.32	57.85%
TW:6579	AAEON Technology Inc.	135.00	19.19	16.57%

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

Clevo Co. AI Stock Analysis