Huaku Development Co., Ltd. (2548) AI Stock Analysis

Huaku Development Co., Ltd.

(TWSE:2548)

Select Model

Rating:66Neutral

Price Target:TWD 99.00▲(4.76% Upside)

Action:initiatedcoverage

Date:11/09/26

Solid financial performance with strong revenue recovery and cash generation, combined with attractive low P/E and high dividend yield, are the primary supports. Weak technical momentum from moving averages and MACD provides a partial offset.

Positive Factors

Revenue ReboundThe sharp 2025 revenue rebound indicates substantial project delivery or revenue recognition and demonstrates the company can convert its development pipeline into reported earnings. If supported by continued completions, this scale of activity can strengthen operating leverage and reinforce its position in Taiwan’s residential development market.

Negative Factors

Debt RelianceAlthough leverage improved from the prior year, debt-to-equity near 0.91 leaves the company reliant on debt funding for an asset-heavy development model. That structure can constrain financial flexibility, increase sensitivity to financing conditions, and amplify downside when property cycles or project timing weaken.

Huaku Development Co., Ltd. (2548) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 32.11B
Dividend Yield: 7.68%
Average Volume (3M): 1.12M
Price to Earnings (P/E): 7.8
Beta (1Y): 0.00
Revenue Growth: 330.96%
EPS Growth: 810.71%
Country: TW
Employees: 134
Sector: General
Sector Strength: 55
Industry: Real Estate - Development

Huaku Development Co., Ltd. Business Overview & Revenue Model

Company Description

Huaku Development Co., Ltd. is a real estate enterprise specializing in the construction, leasing, and sale of residential and commercial properties. Its operations primarily cover both Taiwan and China. The company further extends its services to in...

Huaku Development Co., Ltd. Financial Statement Overview

Summary

Revenue rebounded sharply by 271.5% in 2025 with stable margins and improved cash flows, though real estate cyclicality introduces volatility.

Income Statement

75Positive

Balance Sheet

68Positive

Cash Flow

60Neutral

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	21.92B	18.24B	7.21B	15.80B	14.85B	13.55B
Gross Profit	5.99B	5.15B	2.58B	5.22B	4.74B	4.36B
EBITDA	4.81B	4.05B	2.00B	4.46B	3.84B	3.70B
Net Income	3.95B	3.24B	1.39B	3.58B	2.96B	2.92B
Balance Sheet
Total Assets	53.87B	54.26B	56.50B	43.59B	41.56B	42.63B
Cash, Cash Equivalents and Short-Term Investments	7.52B	9.70B	5.77B	1.55B	1.84B	2.56B
Total Debt	23.64B	20.46B	26.79B	16.30B	14.94B	17.70B
Total Liabilities	33.06B	31.83B	35.65B	22.80B	22.19B	24.12B
Stockholders Equity	20.80B	22.42B	20.84B	20.78B	19.27B	18.38B
Cash Flow
Free Cash Flow	9.87B	9.79B	-4.99B	613.11M	4.23B	-962.40M
Operating Cash Flow	9.88B	9.89B	-4.90B	614.89M	4.24B	-950.91M
Investing Cash Flow	198.58M	1.47B	-1.98B	14.85M	-82.80M	18.85M
Financing Cash Flow	-7.99B	-8.11B	9.12B	-822.61M	-4.88B	2.81B

Huaku Development Co., Ltd. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:2548 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:2535	69Neutral	TWD 22.94B	8.79	―	5.12%	36.46%	95.03%
TW:2548	66Neutral	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:2520	52Neutral	TWD 19.79B	9.53	―	4.96%	12.79%	-1.84%
TW:2540	40Underperform	TWD 41.29B	-5743.59	―	13.39%	-12.51%	8.08%

* General Sector Average

Performance Comparison

TW:2548 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:2548	Huaku Development Co., Ltd.	94.50	6.46	7.34%
TW:01010T	Millerful No 1 Real Estate Investment Trust	10.00	0.35	3.62%
TW:1808	Run Long Construction Co., Ltd.	36.25	-6.59	-15.39%
TW:2520	Kindom Development Co., Ltd.	32.60	0.85	2.68%
TW:2535	Da-Cin Construction Co., Ltd.	89.80	31.20	53.24%
TW:2540	JSL Construction & Development Co., Ltd.	44.80	3.29	7.93%

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

Huaku Development Co., Ltd. AI Stock Analysis