Visual Photonics Epitaxy Co., Ltd. (2455) AI Stock Analysis

Visual Photonics Epitaxy Co., Ltd.

(TWSE:2455)

Select Model

Rating:71Outperform

Price Target:TWD 352.00▼(-8.45% Downside)

Action:initiatedcoverage

Date:11/10/26

Strong financial performance is the primary support for the score, particularly the low leverage, healthy profitability, and improved operating cash flow. This is offset by weak technical momentum and an expensive valuation, resulting in an overall score of 71.

Positive Factors

Strong growth and profitabilityStrong revenue growth combined with healthy gross, net, operating, and EBITDA margins indicates effective cost control and solid economics. If these levels remain resilient through the semiconductor cycle, the company should retain capacity to reinvest and compound earnings over the next several quarters.

Negative Factors

Weak and volatile free cash flowLow free-cash-flow conversion limits the cash available for shareholders, debt reduction, or internally funded expansion even when reported earnings are strong. The year-to-year volatility also makes cash planning less predictable and may reflect heavier reinvestment or working-capital demands.

Visual Photonics Epitaxy Co., Ltd. (2455) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 73.58B
Dividend Yield: 0.68%
Average Volume (3M): 9.90M
Price to Earnings (P/E): 76.0
Beta (1Y): 1.75
Revenue Growth: 34.47%
EPS Growth: 92.24%
Country: TW
Employees: 302
Sector: General
Sector Strength: 55
Industry: Semiconductors

Visual Photonics Epitaxy Co., Ltd. Business Overview & Revenue Model

Company Description

Visual Photonics Epitaxy Co., Ltd., established in 1996 and based in Taoyuan City, Taiwan, specializes in the global research, development, production, and sale of sophisticated optoelectronic semiconductor epitaxial wafers and related components. Th...

Visual Photonics Epitaxy Co., Ltd. Financial Statement Overview

Summary

Strong financial profile led by healthy earnings growth, margins, low leverage, improved return on equity, and rising operating cash flow. Uneven free-cash-flow conversion and historical margin volatility temper the score.

Income Statement

86Very Positive

Balance Sheet

91Very Positive

Cash Flow

75Positive

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	4.23B	3.38B	3.24B	2.69B	2.60B	3.61B
Gross Profit	1.50B	1.09B	1.28B	1.11B	1.09B	1.52B
EBITDA	1.42B	960.22M	1.12B	838.90M	823.22M	1.33B
Net Income	940.73M	547.94M	671.05M	450.23M	544.73M	855.08M
Balance Sheet
Total Assets	5.73B	4.68B	4.58B	4.58B	4.41B	4.85B
Cash, Cash Equivalents and Short-Term Investments	1.28B	945.00M	1.18B	825.83M	752.95M	1.21B
Total Debt	388.71M	607.56M	510.65M	812.88M	799.97M	680.54M
Total Liabilities	1.43B	1.38B	1.25B	1.51B	1.33B	1.57B
Stockholders Equity	4.30B	3.29B	3.33B	3.07B	3.08B	3.28B
Cash Flow
Free Cash Flow	389.41M	275.85M	1.04B	501.04M	223.42M	708.66M
Operating Cash Flow	1.22B	639.57M	1.09B	572.16M	643.52M	1.18B
Investing Cash Flow	-832.02M	-363.73M	-46.72M	-71.23M	-470.10M	-469.86M
Financing Cash Flow	24.58M	-495.62M	-710.68M	-418.60M	-631.81M	-580.55M

Visual Photonics Epitaxy Co., Ltd. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:2455 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:2455	71Outperform	TWD 69.09B	75.99	―	0.68%	34.47%	92.24%
TW:4979	61Neutral	TWD 54.47B	58.49	―	0.54%	23.09%	43.10%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
TW:4991	54Neutral	TWD 42.26B	81.53	―	―	52.19%	―
TW:3714	48Neutral	TWD 38.16B	-138.29	―	5.97%	4.37%	―
TW:3363	46Neutral	TWD 46.71B	-351.26	―	―	-3.20%	-2090.12%
TW:6182	39Underperform	TWD 50.46B	360.65	―	―	9.40%	―

* General Sector Average

Performance Comparison

TW:2455 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:2455	Visual Photonics Epitaxy Co., Ltd.	384.50	236.01	158.94%
TW:3363	FOCI Fiber Optic Communications, Inc.	410.00	59.66	17.03%
TW:3714	Ennostar Inc.	96.15	40.41	72.50%
TW:4979	Luxnet Corporation	396.00	200.51	102.57%
TW:4991	GCS Holdings, Inc.	357.00	198.08	124.64%
TW:6182	Wafer Works Corp.	85.50	56.39	193.74%

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

Visual Photonics Epitaxy Co., Ltd. AI Stock Analysis