Silicon Integrated Systems Corp. AI Stock Analysis
Silicon Integrated Systems Corp. (2363) AI Stock Analysis
Silicon Integrated Systems Corp.
(TWSE:2363)
Silicon Integrated Systems earns a moderate score. Its greatest strength is financial resilience: an essentially debt-free balance sheet with NT$46.8bn of equity, explosive revenue growth and a return to strong free cash flow. Offsetting this are weak earnings quality — shrinking gross margins, negative EBITDA and profits driven largely by non-operating gains — plus a low ~2.6% return on equity. Technicals are the biggest near-term drag, with the price well below all major moving averages and a strongly negative MACD, signalling an entrenched downtrend. Valuation at 25.4x earnings is full given the weak operating profit base, though a 1.45% dividend yield and the fortress balance sheet limit downside risk.
Silicon Integrated Systems Corp. (2363) vs. SPDR S&P 500 ETF (SPY)
- Market Cap
- TWD 24.63B
- Dividend Yield
- 1.27%
- Average Volume (3M)
- 5.91M
- Price to Earnings (P/E)
- 27.7
- Beta (1Y)
- 1.21
- Revenue Growth
- 78.08%
- EPS Growth
- 21.15%
- Country
- TW
- Employees
- 440
- Sector
- General
- Sector Strength
- 55
- Industry
- Semiconductors
Silicon Integrated Systems Corp. Business Overview & Revenue Model
Company Description
Silicon Integrated Systems Corp. (SIS), a global integrated circuit design firm established in Hsinchu City, Taiwan, in 1987, specializes in developing diverse semiconductor solutions. The company provides both multi-chip and single-chip offerings fo...
Silicon Integrated Systems Corp. Financial Statement Overview
Summary
A debt-free, equity-rich balance sheet (NT$46.8bn equity, debt-to-equity near 0.01) and a decisive swing to positive cash generation (TTM operating cash flow of NT$1.77bn and free cash flow of NT$1.70bn after minimal capex) are the key strengths. Revenue has scaled more than twentyfold in three years to NT$4.35bn TTM with a 20.3% net margin. However, earnings quality is weak: gross margin has compressed from ~35% to ~27%, TTM EBITDA is negative NT$618m, and much of the reported profit stems from non-operating gains. Return on equity of just ~2.6% shows a very large capital base is being under-utilized.
Income Statement
62PositiveBalance Sheet
86Very PositiveCash Flow
76Positive| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 4.35B | 2.82B | 738.56M | 187.18M | 182.20M | 252.15M |
| Gross Profit | 1.17B | 877.83M | 256.86M | 56.68M | 4.64M | 84.49M |
| EBITDA | -618.34M | 419.00K | 594.54M | 641.03M | 547.64M | 215.50M |
| Net Income | 881.93M | 788.23M | 498.58M | 571.26M | 483.66M | 198.31M |
Balance Sheet | ||||||
| Total Assets | 49.68B | 20.45B | 14.75B | 19.18B | 15.50B | 23.38B |
| Cash, Cash Equivalents and Short-Term Investments | 3.20B | 4.10B | 2.12B | 4.12B | 1.49B | 664.54M |
| Total Debt | 488.80M | 671.27M | 14.30M | 4.26M | 7.98M | 7.88M |
| Total Liabilities | 2.79B | 2.04B | 574.05M | 145.99M | 109.81M | 114.66M |
| Stockholders Equity | 46.77B | 18.30B | 14.11B | 18.99B | 15.36B | 23.24B |
Cash Flow | ||||||
| Free Cash Flow | 1.70B | 1.39B | -519.65M | -301.28M | -446.59M | -376.65M |
| Operating Cash Flow | 1.77B | 1.41B | -501.28M | -282.11M | -432.44M | -356.58M |
| Investing Cash Flow | -1.44B | -718.69M | 1.15B | 3.30B | 1.78B | 668.21M |
| Financing Cash Flow | -335.04M | 376.43M | -2.78B | -734.67M | -522.75M | -475.77M |
Silicon Integrated Systems Corp. Peers Comparison
Overall Rating
TW:322777Outperform
TW:301476Outperform
TW:671969Neutral- TW:236362Neutral
TW:496161Neutral
TW:359258Neutral
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| TW:3227 | 77Outperform | TWD 26.95B | 13.67 | ― | 5.70% | 4.58% | -1.46% |
| TW:3014 | 76Outperform | TWD 21.24B | 13.03 | ― | 6.16% | -1.73% | 8.63% |
| TW:6719 | 69Neutral | TWD 17.20B | 20.12 | ― | 2.77% | -1.77% | 94.13% |
| TW:2363 | 62Neutral | TWD 24.26B | 27.70 | ― | 1.27% | 78.08% | 21.15% |
| TW:4961 | 61Neutral | TWD 20.91B | 21.15 | ― | 4.14% | -10.15% | -36.28% |
| TW:3592 | 58Neutral | TWD 16.22B | 13.03 | ― | 6.74% | 5.82% | -15.25% |
| Sector * | 55Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| TW:2363 | Silicon Integrated Systems Corp. | 47.70 | -3.29 | -6.45% | |
| TW:3014 | ITE Tech, Inc. | 138.00 | 19.92 | 16.87% | |
| TW:3227 | PixArt Imaging Inc. | 175.50 | -36.95 | -17.39% | |
| TW:3592 | Raydium Semiconductor Corp. | 216.50 | 1.75 | 0.81% | |
| TW:4961 | Fitipower Integrated Technology Inc. | 186.50 | 50.67 | 37.30% | |
| TW:6719 | uPI Semiconductor Corp. | 166.00 | -29.29 | -15.00% |
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