New Asia Construction & Development Corp. (2516) AI Stock Analysis

New Asia Construction & Development Corp.

(TWSE:2516)

Select Model

Rating:68Neutral

Price Target:TWD 17.50▲(6.06% Upside)

Action:initiatedcoverage

Date:11/10/26

The score is supported primarily by the strengthened balance sheet and recovering cash flow, with additional support from favorable technical momentum and a low P/E ratio. Thin margins, volatile historical performance, negative reported revenue growth, and elevated stochastic momentum temper the outlook.

Positive Factors

Improving Balance SheetThe sharp reduction in debt-to-equity improves financial resilience and gives the company greater flexibility to fund projects or withstand weaker operating conditions. Growing equity and improved profitability further support balance-sheet stability over the next several quarters.

Negative Factors

Structurally Thin MarginsThin gross and net margins leave limited room to absorb construction cost increases, project delays, or weaker execution. Even when revenue remains profitable, the narrow earnings cushion can make results sensitive to relatively small changes in project economics.

New Asia Construction & Development Corp. (2516) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 3.82B
Dividend Yield: ―
Average Volume (3M): 377.60K
Price to Earnings (P/E): 9.6
Beta (1Y): 0.23
Revenue Growth: -17.80%
EPS Growth: 82.70%
Country: TW
Employees: 40,782
Sector: General
Sector Strength: 55
Industry: Engineering & Construction

New Asia Construction & Development Corp. Business Overview & Revenue Model

Company Description

New Asia Construction & Development Corp., together with its subsidiaries, provides public construction services for governments in Taiwan. The company heavy machinery contracting for civil engineering, land and community development business, and co...

New Asia Construction & Development Corp. Financial Statement Overview

Summary

Improved profitability, substantially lower leverage, higher equity, and a strong recovery in operating and free cash flow support the score. Thin margins, volatile historical results, and sharply negative reported revenue growth limit it.

Income Statement

48Neutral

Balance Sheet

78Positive

Cash Flow

72Positive

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	9.23B	10.34B	9.63B	8.63B	6.86B	8.04B
Gross Profit	474.21M	414.69M	348.07M	311.52M	-595.46M	199.01M
EBITDA	377.31M	280.37M	304.70M	293.26M	-700.57M	166.87M
Net Income	340.13M	277.29M	218.67M	174.42M	-773.15M	117.22M
Balance Sheet
Total Assets	7.44B	7.97B	7.29B	6.73B	6.28B	6.02B
Cash, Cash Equivalents and Short-Term Investments	2.51B	3.04B	2.36B	2.49B	2.01B	2.43B
Total Debt	602.72M	602.98M	1.05B	896.60M	1.10B	1.31B
Total Liabilities	5.24B	5.92B	5.52B	5.20B	4.92B	4.20B
Stockholders Equity	2.21B	2.05B	1.77B	1.53B	1.36B	1.81B
Cash Flow
Free Cash Flow	655.05M	1.16B	-237.46M	669.29M	-453.68M	-647.68M
Operating Cash Flow	666.97M	1.18B	-218.60M	679.86M	-441.28M	-643.06M
Investing Cash Flow	-43.85M	8.96M	99.86M	-103.57M	151.44M	552.52M
Financing Cash Flow	-279.92M	-469.35M	90.94M	-221.80M	-280.71M	382.79M

New Asia Construction & Development Corp. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:2516 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:2516	68Neutral	TWD 3.71B	9.59	―	―	-17.80%	82.70%
TW:6212	62Neutral	TWD 3.62B	17.10	―	9.87%	-60.85%	-70.77%
TW:5533	60Neutral	TWD 3.92B	19.93	―	4.36%	-19.87%	-6.97%
TW:2514	57Neutral	TWD 3.81B	26.13	―	―	-4.02%	-79.62%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
TW:2538	48Neutral	TWD 3.64B	13.61	―	6.11%	-36.52%	―
TW:1316	37Underperform	TWD 3.39B	-29.64	―	―	156.96%	75.28%

* General Sector Average

Performance Comparison

TW:2516 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:2516	New Asia Construction & Development Corp.	16.50	1.65	11.11%
TW:1316	Sun Yad Construction Co., Ltd.	9.19	-5.71	-38.32%
TW:2514	Long Bon International Co., Ltd.	10.45	-4.30	-29.15%
TW:2538	Kee Tai Properties Co., Ltd.	8.18	-2.13	-20.64%
TW:5533	Founding Construction Development Co., Ltd.	13.75	-0.28	-1.97%
TW:6212	Li Ming Development Construction Co., Ltd.	35.40	-4.95	-12.27%

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

New Asia Construction & Development Corp. AI Stock Analysis