Crowell Development Corp. AI Stock Analysis
Crowell Development Corp. (2528) AI Stock Analysis
Crowell Development Corp.
(TWSE:2528)
Crowell Development earns a moderately positive score, driven primarily by a strong financial year: revenue more than doubled, ROE reached a multi-year high of 19.4%, cash flow turned sharply positive and debt was cut by over NT$4bn. A low 10.5x P/E and a 7.7% dividend yield add further support. These positives are tempered by sharply compressed margins, still-elevated leverage and the inherently lumpy nature of project-based developer earnings, which makes the current cash harvest difficult to repeat. The biggest drag is technical: the stock trades below all major moving averages with negative MACD momentum and a weak RSI, signalling a persistent downtrend that offsets the favourable fundamentals and valuation.
Crowell Development Corp. (2528) vs. SPDR S&P 500 ETF (SPY)
- Market Cap
- TWD 8.49B
- Dividend Yield
- 7.74%
- Average Volume (3M)
- 484.37K
- Price to Earnings (P/E)
- 10.5
- Beta (1Y)
- 0.34
- Revenue Growth
- -69.18%
- EPS Growth
- -72.70%
- Country
- TW
- Employees
- 47
- Sector
- General
- Sector Strength
- 55
- Industry
- Real Estate - Services
Crowell Development Corp. Business Overview & Revenue Model
Company Description
Established in 1974, Crowell Development Corp. primarily focuses on developing and constructing commercial and residential properties across Taiwan, making them available for both lease and direct sale. Beyond these core activities, the company's ope...
Crowell Development Corp. Financial Statement Overview
Summary
Fiscal 2025 was the strongest year on record: revenue more than doubled to NT$12.28bn, net income rose to NT$1.53bn, and ROE improved to 19.4%. Cash flow swung decisively positive (operating cash flow NT$4.77bn, free cash flow NT$4.42bn) after five years of burn, funding a NT$4bn debt reduction that cut debt-to-equity to 1.39x from 2.12x. Offsetting these strengths, gross margin collapsed from 41.4% to 20.0% and net margin from 24.4% to 12.5%, leverage remains elevated with equity funding only about a third of assets, and results are inherently lumpy as the cash harvest reflects a completed project cycle rather than a sustainable run-rate.
Income Statement
68PositiveBalance Sheet
58NeutralCash Flow
70Positive| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 8.66B | 12.28B | 5.33B | 1.85B | 1.73B | 3.19B |
| Gross Profit | 1.78B | 2.46B | 2.21B | 499.81M | 443.60M | 785.12M |
| EBITDA | 1.35B | 1.92B | 1.70B | 326.65M | 320.63M | 575.63M |
| Net Income | 1.07B | 1.53B | 1.30B | 241.60M | 238.39M | 490.15M |
Balance Sheet | ||||||
| Total Assets | 21.67B | 22.46B | 28.59B | 21.43B | 19.21B | 16.55B |
| Cash, Cash Equivalents and Short-Term Investments | 485.38M | 1.58B | 2.33B | 61.55M | 963.03M | 1.14B |
| Total Debt | 10.98B | 10.98B | 15.03B | 11.86B | 10.12B | 9.82B |
| Total Liabilities | 14.14B | 14.57B | 21.49B | 16.14B | 14.04B | 12.32B |
| Stockholders Equity | 7.53B | 7.89B | 7.10B | 5.29B | 5.16B | 4.23B |
Cash Flow | ||||||
| Free Cash Flow | 2.92B | 4.42B | -1.90B | -1.83B | -1.18B | -3.32B |
| Operating Cash Flow | 3.23B | 4.77B | -1.87B | -1.81B | -1.18B | -3.31B |
| Investing Cash Flow | -162.35M | -360.28M | -297.89M | -23.07M | 2.78M | 4.94M |
| Financing Cash Flow | -3.18B | -4.82B | 3.71B | 1.62B | 991.72M | 3.63B |
Crowell Development Corp. Peers Comparison
Overall Rating
TW:551577Outperform
TW:551175Outperform
TW:201363Neutral- TW:252863Neutral
TW:153248Neutral
TW:254745Neutral
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| TW:5515 | 77Outperform | TWD 9.49B | 4.76 | ― | 6.90% | 17.87% | 298.44% |
| TW:5511 | 75Outperform | TWD 9.30B | 5.37 | ― | 5.22% | 15.89% | 75.28% |
| TW:2013 | 63Neutral | TWD 8.13B | 12.62 | ― | 5.90% | -5.75% | 8.87% |
| TW:2528 | 63Neutral | TWD 8.68B | 10.46 | ― | 7.74% | -69.18% | -72.70% |
| Sector * | 55Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
| TW:1532 | 48Neutral | TWD 9.11B | 22.83 | ― | 3.73% | 0.87% | 215.40% |
| TW:2547 | 45Neutral | TWD 9.64B | 86.39 | ― | 8.46% | 46.09% | -87.69% |
* General Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| TW:2528 | Crowell Development Corp. | 16.85 | -7.95 | -32.05% | |
| TW:1532 | China Metal Products Co., Ltd. | 21.45 | -4.06 | -15.92% | |
| TW:2013 | China Steel Structure Co., Ltd. | 40.65 | 1.79 | 4.61% | |
| TW:2547 | Radium Life Tech Co., Ltd. | 9.46 | -0.79 | -7.73% | |
| TW:5511 | Te Chang Construction Co., Ltd. | 69.00 | 17.31 | 33.49% | |
| TW:5515 | Chien Kuo Construction Co., Ltd | 47.85 | 22.72 | 90.40% |
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