Sunplus Technology Co., Ltd. (2401) AI Stock Analysis

Sunplus Technology Co., Ltd.

(TWSE:2401)

Select Model

Rating:42Neutral

Price Target:TWD 19.50▼(-10.14% Downside)

Action:initiatedcoverage

Date:11/10/26

The overall score is weighed down primarily by sharply weaker revenue and profitability, negative earnings, declining cash generation, and a very high P/E ratio. The conservative balance sheet and oversold technical readings provide limited support, but do not offset the fundamental and valuation risks.

Positive Factors

Low LeverageModest leverage and substantial equity provide a financial cushion during semiconductor downturns. This reduces solvency pressure, preserves borrowing capacity, and gives Sunplus more flexibility to sustain operations or fund product development while earnings recover.

Negative Factors

Sharp Revenue DeclineThe steep 2025 revenue contraction shows that demand remains highly cyclical and that the 2024 recovery was not yet durable. Weaker sales can reduce operating leverage, limit development resources, and delay a sustained improvement in earnings over coming quarters.

Sunplus Technology Co., Ltd. (2401) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 12.86B
Dividend Yield: ―
Average Volume (3M): 2.41M
Price to Earnings (P/E): 221.9
Beta (1Y): 1.09
Revenue Growth: 5.96%
EPS Growth: ―
Country: TW
Employees: 1,091
Sector: General
Sector Strength: 55
Industry: Semiconductors

Sunplus Technology Co., Ltd. Business Overview & Revenue Model

Company Description

Established in Hsinchu City, Taiwan, in 1990, Sunplus Technology Company Limited is a global enterprise that researches, develops, designs, tests, and sells integrated circuits (ICs) primarily for consumer use. The company specializes in ICs for mult...

Sunplus Technology Co., Ltd. Financial Statement Overview

Summary

Financial performance is cautious: the weak income statement and declining cash flow outweigh the strong, low-leverage balance sheet. Using the provided scores with greater emphasis on operating performance, the financial score is 43.

Income Statement

25Negative

Balance Sheet

75Positive

Cash Flow

45Neutral

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	6.94B	6.30B	6.43B	5.54B	6.71B	7.96B
Gross Profit	2.62B	2.49B	3.11B	2.52B	3.30B	4.16B
EBITDA	627.96M	437.87M	1.33B	454.16M	1.40B	2.48B
Net Income	61.56M	-215.49M	258.97M	-493.15M	670.46M	1.76B
Balance Sheet
Total Assets	14.96B	14.00B	14.34B	13.96B	15.02B	16.38B
Cash, Cash Equivalents and Short-Term Investments	5.75B	5.97B	6.15B	5.18B	5.15B	6.58B
Total Debt	1.60B	1.48B	1.46B	1.43B	1.25B	793.85M
Total Liabilities	4.10B	3.41B	3.31B	3.16B	3.29B	3.80B
Stockholders Equity	8.46B	8.21B	8.61B	8.49B	9.26B	10.12B
Cash Flow
Free Cash Flow	-113.79M	298.79M	477.09M	825.71M	-646.28M	1.59B
Operating Cash Flow	165.79M	487.60M	771.63M	1.10B	-315.73M	1.88B
Investing Cash Flow	-253.34M	-343.84M	267.49M	-767.61M	1.18B	-974.33M
Financing Cash Flow	-215.39M	-298.93M	-224.51M	-667.08M	-1.32B	547.42M

Sunplus Technology Co., Ltd. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:2401 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:2436	61Neutral	TWD 11.00B	9.01	―	3.57%	25.84%	214.39%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
TW:3675	47Neutral	TWD 12.55B	34.82	―	1.64%	15.03%	108.70%
TW:6533	46Neutral	TWD 12.68B	-41.00	―	―	20.43%	-13.21%
TW:3545	45Neutral	TWD 10.24B	-9.02	―	1.79%	-20.71%	-280.66%
TW:2401	42Neutral	TWD 12.89B	221.88	―	―	5.96%	―

* General Sector Average

Performance Comparison

TW:2401 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:2401	Sunplus Technology Co., Ltd.	21.70	1.35	6.63%
TW:2436	Weltrend Semiconductor, Inc.	54.80	9.62	21.30%
TW:3545	FocalTech Systems Co., Ltd.	45.55	-6.88	-13.13%
TW:3675	Eris Technology Corp.	243.50	102.51	72.71%
TW:6533	Andes Technology Corp.	234.00	0.08	0.04%
TW:7913	QBit Semiconductor Ltd.	230.50	-298.50	-56.43%

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

Sunplus Technology Co., Ltd. AI Stock Analysis