Phihong Technology Co., Ltd. (2457) AI Stock Analysis

Phihong Technology Co., Ltd.

(TWSE:2457)

Select Model

Rating:42.9Neutral

Price Target:TWD 16.50▼(-9.34% Downside)

Action:initiatedcoverage

Date:11/10/26

The score is constrained primarily by deteriorating profitability and persistently negative free cash flow, with additional pressure from bearish technical trends and a negative P/E ratio. The relatively strong, conservatively leveraged balance sheet provides some support.

Positive Factors

Diversified Application BasePhihong serves several end markets with AC/DC adapters, power supplies, chargers, and PoE products. This application breadth can diversify demand sources and preserve opportunities for customer and product expansion across consumer, enterprise, infrastructure, and mobility uses.

Negative Factors

Multi-Year Revenue DeclinePersistent revenue contraction indicates weakening demand, customer activity, or product competitiveness rather than a single-quarter fluctuation. Continued top-line pressure can reduce operating leverage, limit reinvestment capacity, and make a durable earnings recovery harder to achieve.

Phihong Technology Co., Ltd. (2457) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 7.60B
Dividend Yield: ―
Average Volume (3M): 1.15M
Price to Earnings (P/E): -17.5
Beta (1Y): 1.00
Revenue Growth: -12.04%
EPS Growth: -42.72%
Country: TW
Employees: 82,692
Sector: General
Sector Strength: 55
Industry: Electrical Equipment & Parts

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

Company Description

Phihong Technology Co., Ltd. operates as a power supply company in Taiwan. The company offers adapters, such as desktop adapter, fixed plug wall adapter, and interchangeable plug wall adapter; power-over-ethernet solutions, including PoE injector and...

Phihong Technology Co., Ltd. Financial Statement Overview

Summary

Financial performance is weak overall: the income statement score is 25.0 and cash flow score is 30.0, reflecting sharply deteriorated profitability and persistently negative free cash flow. The strong balance sheet score of 78.0, supported by low debt-to-equity, provides partial offset.

Income Statement

25Negative

Balance Sheet

78Positive

Cash Flow

30Negative

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	9.45B	9.80B	10.90B	12.33B	14.02B	12.28B
Gross Profit	1.87B	1.84B	2.94B	3.21B	2.14B	1.47B
EBITDA	95.04M	-198.29M	774.52M	962.39M	597.08M	41.51M
Net Income	-444.68M	-634.67M	206.32M	262.55M	71.33M	-312.62M
Balance Sheet
Total Assets	13.42B	13.97B	15.00B	15.58B	14.59B	13.61B
Cash, Cash Equivalents and Short-Term Investments	3.47B	4.03B	4.83B	6.09B	3.53B	3.82B
Total Debt	1.16B	1.14B	1.17B	1.92B	3.92B	3.31B
Total Liabilities	4.56B	5.00B	4.99B	6.18B	8.37B	7.78B
Stockholders Equity	8.87B	8.97B	10.02B	9.41B	6.23B	5.85B
Cash Flow
Free Cash Flow	-588.93M	-529.62M	-717.38M	1.72B	-1.21B	-1.87B
Operating Cash Flow	57.95M	106.19M	203.44M	2.23B	-298.67M	-945.94M
Investing Cash Flow	-443.83M	-595.95M	-1.12B	-157.73M	-960.81M	-1.11B
Financing Cash Flow	-1.90B	-164.88M	-895.97M	811.21M	528.43M	3.13B

Phihong Technology Co., Ltd. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:2457 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:2420	70Outperform	TWD 7.68B	10.41	―	5.96%	5.40%	31.54%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
TW:3015	55Neutral	TWD 8.02B	16.87	―	5.13%	-5.43%	17.09%
TW:2419	43Neutral	TWD 8.11B	120.58	―	―	13.36%	―
TW:2457	43Neutral	TWD 7.73B	-17.50	―	―	-12.04%	-42.72%
TW:8163	41Neutral	TWD 7.03B	28.48	―	1.99%	7.26%	-0.41%
TW:3032	39Underperform	TWD 7.51B	-21.21	―	4.11%	41.24%	-89.74%

* General Sector Average

Performance Comparison

TW:2457 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:2457	Phihong Technology Co., Ltd.	18.20	-13.35	-42.31%
TW:2419	Hitron Technologies Inc.	25.25	2.00	8.60%
TW:2420	Zippy Technology Corp	50.30	1.63	3.35%
TW:3015	FSP Technology Inc.	42.85	-10.92	-20.31%
TW:3032	Compucase Enterprise Co., Ltd.	66.30	-24.20	-26.74%
TW:8163	Darfon Electronics Corp	25.10	-7.57	-23.17%

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

Phihong Technology Co., Ltd. AI Stock Analysis