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AMPOC Far-East Co., Ltd. (2493) AI Stock Analysis

TW:2493

AMPOC Far-East Co., Ltd.

(TWSE:2493)

Select Model
Rating:65Neutral
Price Target:TWD 143.00â–¼(-6.84% Downside)
Action:initiatedcoverage
Date:11/09/26

AMPOC Far-East earns a moderate score. Its financial foundation is the main strength: a near debt-free balance sheet, steadily growing equity and record free cash flow with excellent earnings-to-cash conversion. However, profitability is deteriorating, with margins compressing for a second straight year and net income down roughly 20%. The bigger drag is price action — the stock trades far below all major moving averages with a deeply negative MACD, signalling a sustained downtrend, although the oversold RSI hints at potential near-term stabilisation. A P/E of 27.7 on falling earnings limits upside, though the 3.0% dividend yield, comfortably funded by cash flow, offers some cushion.

Positive Factors
Conservative Balance SheetMinimal leverage reduces financial risk and preserves flexibility through semiconductor cycles. A steadily expanding equity base also strengthens the company’s capacity to absorb volatility, fund operations, and pursue opportunities without relying heavily on borrowing.
Negative Factors
Margin and Earnings PressureThe retreat in margins and net income despite higher sales suggests profitability has not kept pace with revenue growth. If normalization or pricing and cost pressure persists, it could reduce operating leverage and limit the conversion of future sales gains into earnings.

AMPOC Far-East Co., Ltd. (2493) vs. SPDR S&P 500 ETF (SPY)

-50%0%50%100%150%200%250%300%TW:2493+72.16%SPY+12.79%Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
Market Cap
TWD 20.41B
Dividend Yield
2.61%
Average Volume (3M)
2.18M
Price to Earnings (P/E)
29.3
Beta (1Y)
1.61
Revenue Growth
14.48%
EPS Growth
27.38%
Country
TW
Employees
266
Sector
General
Sector Strength
55
Industry
Semiconductors

AMPOC Far-East Co., Ltd. Business Overview & Revenue Model

Company Description

Ampoc Far-East Co., Ltd., established in 1976 and headquartered in Taipei, Taiwan, specializes in the research, development, and provision of essential equipment and materials for the electronics sector. The company's diverse product offerings includ...

AMPOC Far-East Co., Ltd. Financial Statement Overview

Summary

A very strong balance sheet (essentially debt-free at 1.1% debt-to-equity, steadily compounding equity, 17% ROE) and high-quality cash generation (operating cash flow of NT$777M exceeding net income by ~1.4x, record free cash flow of NT$680M on light capex) are the standout strengths. The offset is the income statement: revenue growth has slowed to ~3%, while gross, operating and net margins have eroded for two consecutive years and net income fell about 20% to NT$553M, dragging ROE down from the low-20s. Solid financial foundation, but earnings momentum has clearly turned negative.

Income Statement

67Positive

Balance Sheet

85Very Positive

Cash Flow

80Positive
Financial statement breakdown
BreakdownTTMDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue3.95B3.77B3.66B3.35B3.45B2.94B
Gross Profit1.16B1.14B1.24B1.22B1.10B778.11M
EBITDA784.44M709.99M881.26M857.22M774.08M441.52M
Net Income663.22M552.77M692.60M690.31M592.40M343.30M
Balance Sheet
Total Assets6.32B5.39B4.42B4.98B4.63B3.84B
Cash, Cash Equivalents and Short-Term Investments1.99B1.78B1.60B2.13B1.91B1.19B
Total Debt30.06M36.49M47.41M199.83M4.41M6.44M
Total Liabilities3.24B2.15B1.27B1.98B1.86B1.40B
Stockholders Equity3.08B3.25B3.15B3.00B2.76B2.44B
Cash Flow
Free Cash Flow572.27M679.74M657.13M335.36M671.44M453.71M
Operating Cash Flow684.76M777.25M692.33M813.71M677.66M468.27M
Investing Cash Flow-135.56M-120.45M-80.98M-594.07M-50.55M-5.54M
Financing Cash Flow-473.70M-500.66M-730.40M-272.87M-318.72M-290.31M

AMPOC Far-East Co., Ltd. Peers Comparison

Overall Rating

UnderperformOutperform
Sector (55)

Financial Indicators

TW:2493 against its peers
NameOverall RatingMarket CapP/E RatioROEDividend YieldRevenue GrowthEPS Growth
TW:6613TW:661370OutperformTWD 17.16B12.49―4.54%44.63%11.52%
TW:6903TW:690366NeutralTWD 18.34B12.44―3.09%196.19%262.75%
TW:2493TW:249365NeutralTWD 19.46B29.29―2.61%14.48%27.38%
TW:6640TW:664064NeutralTWD 22.20B37.01―1.82%38.95%50.60%
Sector *55Neutral$6.65B3.83-15.92%6.20%10.91%7.18%
TW:8027TW:802741NeutralTWD 15.56B457.81――38.03%―

* General Sector Average

Performance Comparison

0%100%200%TW:2493TW:6613TW:6640TW:6903TW:7942TW:8027Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
TW:2493 and its peers over the selected period
Show on chartTickerCompany NamePriceChange% Change
TW:2493AMPOC Far-East Co., Ltd.153.5064.5472.55%
TW:6613Nova Technology Corp220.5048.2828.03%
TW:6640Gallant Micro Machining Co. Ltd.825.00230.1138.68%
TW:6903Jiu Han System Technology Co Ltd275.00110.6667.33%
TW:7942Toyo Automation Co. Ltd.534.00183.0052.14%
TW:8027E&R Engineering Corp.144.0052.1056.69%
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