Goldsun Building Materials Co., Ltd. AI Stock Analysis
Goldsun Building Materials Co., Ltd. (2504) AI Stock Analysis
Goldsun Building Materials Co., Ltd.
(TWSE:2504)
Goldsun earns an above-average score driven by solid fundamentals and a compelling valuation. Record revenue, six straight years of gross margin expansion, moderate leverage and operating cash flow that exceeds reported earnings underpin the business, while a 9.5x P/E and 8.7% dividend yield offer attractive value and income. The main drags are a 15% decline in net profit with margin compression versus a strong 2024, a steadily rising debt load, volatile free cash flow from heavy capital spending, and a clearly negative technical picture — the shares trade below all major moving averages with negative MACD, signalling continued near-term selling pressure.
Goldsun Building Materials Co., Ltd. (2504) vs. SPDR S&P 500 ETF (SPY)
- Market Cap
- TWD 36.31B
- Dividend Yield
- 8.43%
- Average Volume (3M)
- 1.86M
- Price to Earnings (P/E)
- 10.0
- Beta (1Y)
- 0.18
- Revenue Growth
- -5.45%
- EPS Growth
- -5.22%
- Country
- TW
- Employees
- 3,938
- Sector
- General
- Sector Strength
- 55
- Industry
- Construction Materials
Goldsun Building Materials Co., Ltd. Business Overview & Revenue Model
Company Description
Goldsun Building Materials Co., Ltd., along with its affiliated companies, specializes in the manufacturing and distribution of premixed concrete and calcium silicate boards throughout Taiwan and mainland China. The company's operations are divided i...
Goldsun Building Materials Co., Ltd. Financial Statement Overview
Summary
Goldsun combines record 2025 revenue of about NT$22.5 billion with six consecutive years of gross margin expansion (16.6% to 27.4%), a 22.9% operating margin and 17.2% net margin — unusually strong for a cyclical materials producer. The balance sheet is equity-funded (58% of assets), with debt-to-equity of 0.51 and 14.3% return on equity. Cash quality is good, with operating cash flow up 30% to NT$5.15 billion, exceeding net income. Offsetting these strengths: net income fell roughly 15% year-over-year, operating and EBITDA margins compressed, total debt has climbed from NT$9.2 billion in 2022 to NT$13.7 billion, and heavy capital spending leaves free cash flow lumpy at only ~24% of net income.
Income Statement
76PositiveBalance Sheet
74PositiveCash Flow
70Positive| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 21.54B | 22.53B | 21.72B | 21.04B | 21.28B | 21.80B |
| Gross Profit | 5.83B | 6.18B | 5.58B | 4.99B | 4.30B | 4.11B |
| EBITDA | 5.61B | 5.96B | 6.42B | 5.41B | 5.93B | 4.33B |
| Net Income | 3.79B | 3.88B | 4.59B | 3.53B | 4.13B | 2.85B |
Balance Sheet | ||||||
| Total Assets | 50.23B | 46.66B | 43.44B | 40.55B | 38.95B | 35.76B |
| Cash, Cash Equivalents and Short-Term Investments | 6.17B | 4.25B | 3.72B | 3.64B | 2.94B | 3.53B |
| Total Debt | 16.01B | 13.74B | 11.31B | 9.69B | 9.21B | 8.02B |
| Total Liabilities | 23.15B | 18.32B | 15.58B | 14.93B | 14.55B | 13.25B |
| Stockholders Equity | 25.89B | 27.08B | 26.73B | 24.49B | 23.27B | 21.39B |
Cash Flow | ||||||
| Free Cash Flow | 525.92M | 1.24B | -532.64M | 1.14B | -257.15M | 2.62B |
| Operating Cash Flow | 5.15B | 5.15B | 3.96B | 3.78B | 2.98B | 3.84B |
| Investing Cash Flow | -4.39B | -3.47B | -2.44B | -1.73B | -2.84B | -809.63M |
| Financing Cash Flow | 872.96M | -803.39M | -905.51M | -1.87B | -599.66M | -2.96B |
Goldsun Building Materials Co., Ltd. Peers Comparison
Overall Rating
- TW:250472Outperform
TW:253971Outperform
TW:253569Neutral
TW:254868Neutral
TW:180852Neutral
TW:254040Underperform
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| TW:2504 | 72Outperform | TWD 35.89B | 9.98 | ― | 8.43% | -5.45% | -5.22% |
| TW:2539 | 71Outperform | TWD 42.87B | 9.19 | ― | 2.00% | -19.68% | -27.30% |
| TW:2535 | 69Neutral | TWD 22.94B | 8.79 | ― | 5.12% | 36.46% | 95.03% |
| TW:2548 | 68Neutral | TWD 31.37B | 7.76 | ― | 7.68% | 330.96% | 810.71% |
| Sector * | 55Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
| TW:1808 | 52Neutral | TWD 34.49B | 6.15 | ― | 11.29% | 7156.51% | ― |
| TW:2540 | 40Underperform | TWD 41.29B | -5743.59 | ― | 13.39% | -12.51% | 8.08% |
* General Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| TW:2504 | Goldsun Building Materials Co., Ltd. | 30.85 | -2.71 | -8.07% | |
| TW:1808 | Run Long Construction Co., Ltd. | 36.25 | -6.59 | -15.39% | |
| TW:2535 | Da-Cin Construction Co., Ltd. | 89.80 | 30.73 | 52.03% | |
| TW:2539 | Sakura Development Co., Ltd. | 30.05 | -8.28 | -21.60% | |
| TW:2540 | JSL Construction & Development Co., Ltd. | 44.80 | 2.05 | 4.79% | |
| TW:2548 | Huaku Development Co., Ltd. | 94.50 | 6.19 | 7.01% |
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