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Sunrex Technology Corporation (2387) AI Stock Analysis

TW:2387

Sunrex Technology Corporation

(TWSE:2387)

Select Model
Rating:49Neutral
Price Target:TWD 31.00â–²(4.38% Upside)
Action:initiatedcoverage
Date:11/10/26

The overall score is 49, reflecting a company under significant operational pressure. The most impactful factor is the deteriorating financial performance, where declining revenues, compressing margins, and a severe drop in cash flow generation overshadow a strong balance sheet. This is compounded by a deeply bearish technical trend, with the stock price below all key moving averages and momentum at extremely weak levels. A low P/E ratio and exceptionally high dividend yield offer some valuation appeal, but this is tempered by the risk that the dividend may be unsustainable given the cash flow decline.

Positive Factors
Improved Balance SheetLower leverage and a substantial equity base provide financial flexibility through the business cycle. Compared with earlier debt-to-equity levels of roughly 0.66–0.75, the current structure reduces balance-sheet strain and leaves more capacity to support operations or future investment.
Negative Factors
Revenue ContractionThe return to revenue contraction indicates that recent demand and business momentum have weakened after the prior year’s growth. A smaller top line can reduce operating leverage, limit reinvestment capacity, and make it harder for Sunrex to rebuild profitability over the next several quarters.

Sunrex Technology Corporation (2387) vs. SPDR S&P 500 ETF (SPY)

-20%-10%0%10%20%30%TW:2387-17.40%SPY+13.89%Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
Market Cap
TWD 5.77B
Dividend Yield
13.47%
Average Volume (3M)
282.17K
Price to Earnings (P/E)
17.7
Beta (1Y)
0.55
Revenue Growth
-15.69%
EPS Growth
-67.43%
Country
TW
Employees
13,546
Sector
General
Sector Strength
55
Industry
Computer Hardware

Sunrex Technology Corporation Business Overview & Revenue Model

Company Description

Sunrex Technology Corporation is a global producer and distributor specializing in laptop computer keyboards. The company also dedicates significant resources to the research and development of various human interface devices, encompassing desktop co...

Sunrex Technology Corporation Financial Statement Overview

Summary

Financial performance is under significant strain. While the balance sheet is strong with low debt (D/E 0.29), the income statement shows a 7% revenue decline and compressing margins (net margin halved to 3.6%). Critically, cash flow has deteriorated sharply, with operating cash flow down over 40% and free cash flow covering only 35% of net income. The robust balance sheet provides a buffer, but the negative operational trends in revenue, margins, and cash generation weigh heavily on the score.

Income Statement

35Negative

Balance Sheet

75Positive

Cash Flow

30Negative
Financial statement breakdown
BreakdownTTMDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue18.03B18.89B23.55B21.61B24.57B24.06B
Gross Profit2.29B2.72B3.81B3.39B3.34B2.90B
EBITDA1.62B2.08B3.94B3.66B3.88B2.91B
Net Income571.37M670.69M1.51B1.25B1.44B1.02B
Balance Sheet
Total Assets20.11B20.13B21.96B19.60B21.86B21.91B
Cash, Cash Equivalents and Short-Term Investments6.20B6.75B5.83B4.76B5.06B2.13B
Total Debt3.76B3.09B3.09B3.54B5.96B6.10B
Total Liabilities8.57B8.46B10.24B9.12B11.73B12.84B
Stockholders Equity10.38B10.61B10.62B9.39B8.99B8.08B
Cash Flow
Free Cash Flow610.59M599.96M1.86B3.59B2.91B-720.00M
Operating Cash Flow1.55B1.70B2.97B4.21B4.06B1.04B
Investing Cash Flow-1.68B-1.90B-872.95M-1.41B-732.68M-2.09B
Financing Cash Flow-175.56M-976.04M-1.03B-3.08B-958.47M267.22M

Sunrex Technology Corporation Peers Comparison

Overall Rating

UnderperformOutperform
Sector (55)

Financial Indicators

TW:2387 against its peers
NameOverall RatingMarket CapP/E RatioROEDividend YieldRevenue GrowthEPS Growth
TW:3694TW:369467NeutralTWD 6.27B9.88―5.81%2.03%-13.23%
TW:8103TW:810364NeutralTWD 7.18B14.69―7.14%24.56%61.55%
TW:2397TW:239756NeutralTWD 6.50B17.31―4.22%16.92%-16.99%
Sector *55Neutral$6.65B3.83-15.92%6.20%10.91%7.18%
TW:2387TW:238749NeutralTWD 5.73B17.68―13.47%-15.69%-67.43%
TW:2399TW:239945NeutralTWD 7.65B9.96――5.02%―
TW:3062TW:306243NeutralTWD 6.14B-9.29――-1.98%-242.86%

* General Sector Average

Performance Comparison

0%50%100%TW:2387TW:2397TW:2399TW:3062TW:3694TW:8103Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
TW:2387 and its peers over the selected period
Show on chartTickerCompany NamePriceChange% Change
TW:2387Sunrex Technology Corporation29.70-6.67-18.33%
TW:2397DFI Inc.58.10-0.11-0.19%
TW:2399Biostar Microtech International Corp.39.5516.4571.21%
TW:3062CyberTAN Technology, Inc.18.40-6.95-27.42%
TW:3694AzureWave Technologies, Inc.39.60-24.03-37.77%
TW:8103Cvilux Corporation84.901.071.27%
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