Goldsun Building Materials Co., Ltd. (2504) AI Stock Analysis

Goldsun Building Materials Co., Ltd.

(TWSE:2504)

Select Model

Rating:67Neutral

Price Target:TWD 32.00▲(2.24% Upside)

Action:initiatedcoverage

Date:11/10/26

The overall score of 67 reflects a company with strong fundamentals and attractive valuation that is currently under significant technical pressure. The robust financial performance, characterized by revenue growth and record cash flow, and the low P/E ratio with a high dividend yield are the primary strengths. However, the stock's bearish technical posture, trading below all major moving averages with weak momentum indicators, is a major headwind that weighs on the score.

Positive Factors

Revenue Growth and Operating ProfitabilityThe sharp 2025 revenue rebound, combined with strong gross and EBIT margins, indicates improving demand and meaningful operating profitability. If maintained, this provides the company with internal resources to support investment, absorb cost pressure, and strengthen earnings capacity over the next several quarters.

Negative Factors

Lower Net ProfitabilityThe deterioration in net margin and year-over-year decline in net income show that stronger revenue has not translated proportionately into bottom-line growth. Higher costs, pricing pressure, or mix effects could continue to limit earnings expansion and reduce the durability of the revenue recovery.

Goldsun Building Materials Co., Ltd. (2504) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 36.84B
Dividend Yield: 8.31%
Average Volume (3M): 1.84M
Price to Earnings (P/E): 10.1
Beta (1Y): 0.21
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

Financial performance is solid, driven by strong revenue growth, expanding margins, and record operating cash flow. The balance sheet is stable with manageable leverage, though the recent debt increase and slight net margin dip are minor concerns. Overall, the company demonstrates effective cost management and robust cash generation.

Income Statement

78Positive

Balance Sheet

65Positive

Cash Flow

82Very Positive

Financial statement breakdown
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

UnderperformOutperform

Sector (55)

Financial Indicators

TW:2504 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:2539	71Outperform	TWD 45.85B	9.63	―	1.90%	-19.68%	-27.30%
TW:2535	69Neutral	TWD 23.76B	9.05	―	4.98%	36.46%	95.03%
TW:2548	68Neutral	TWD 31.94B	7.82	―	7.62%	330.96%	810.71%
TW:2504	67Neutral	TWD 36.84B	10.13	―	8.31%	-5.45%	-5.22%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
TW:1808	52Neutral	TWD 25.90B	6.15	―	12.50%	7156.51%	―
TW:2540	40Underperform	TWD 43.37B	42.02	―	13.07%	-12.51%	8.08%

* General Sector Average

Performance Comparison

TW:2504 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:2504	Goldsun Building Materials Co., Ltd.	31.30	-1.19	-3.66%
TW:1808	Run Long Construction Co., Ltd.	38.75	-4.09	-9.55%
TW:2535	Da-Cin Construction Co., Ltd.	92.40	34.17	58.69%
TW:2539	Sakura Development Co., Ltd.	31.50	-5.78	-15.50%
TW:2540	JSL Construction & Development Co., Ltd.	45.90	4.04	9.64%
TW:2548	Huaku Development Co., Ltd.	95.20	7.70	8.79%

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

Goldsun Building Materials Co., Ltd. AI Stock Analysis