Zero One Technology Co., Ltd. (3029) AI Stock Analysis

Zero One Technology Co., Ltd.

(TWSE:3029)

Select Model

Rating:77Outperform

Price Target:TWD 128.00▼(-5.19% Downside)

Action:initiatedcoverage

Date:11/10/26

The score is supported primarily by strong financial performance, especially the low-leverage balance sheet and improving cash generation. Attractive valuation and dividend income provide additional support, while weak short-term momentum and margin compression limit the score.

Positive Factors

Accelerating Revenue GrowthThe sharp acceleration in revenue indicates strong recent demand and greater operating scale across the company’s enterprise IT solutions business. If this growth persists, it can broaden customer reach, strengthen market presence, and provide a larger base from which to build recurring services and support revenue.

Negative Factors

Limited Margin ExpansionThe absence of margin expansion during the 2025 revenue surge suggests that additional scale has not yet translated into stronger profitability. Competitive pricing or less favorable business mix could limit operating leverage, leaving earnings growth more dependent on continued volume increases than on improving economics.

Zero One Technology Co., Ltd. (3029) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 21.81B
Dividend Yield: 4.07%
Average Volume (3M): 2.71M
Price to Earnings (P/E): 17.9
Beta (1Y): 0.59
Revenue Growth: ―
EPS Growth: ―
Country: TW
Employees: 312
Sector: General
Sector Strength: 55
Industry: Computer Hardware

Zero One Technology Co., Ltd. Business Overview & Revenue Model

Company Description

Operating as a key agency and sales channel for enterprise information technology equipment throughout Taiwan, Zero One Technology Co., Ltd. provides a comprehensive suite of services. These offerings include system administration, cybersecurity, net...

Zero One Technology Co., Ltd. Financial Statement Overview

Summary

Strong financial health, led by a robust balance sheet, very low leverage, rapid revenue growth, improving returns, and strong cash generation. Modest and declining margins are the main weakness.

Income Statement

80Positive

Balance Sheet

92Very Positive

Cash Flow

87Very Positive

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	26.11B	24.89B	18.48B	13.92B	12.73B	12.88B
Gross Profit	3.29B	3.03B	2.43B	1.64B	1.49B	1.30B
EBITDA	1.68B	1.60B	1.33B	826.48M	743.57M	701.81M
Net Income	1.16B	1.09B	833.77M	691.52M	613.58M	537.36M
Balance Sheet
Total Assets	18.02B	15.16B	13.28B	7.98B	8.02B	7.68B
Cash, Cash Equivalents and Short-Term Investments	3.98B	4.25B	3.54B	2.09B	2.21B	2.26B
Total Debt	1.57B	262.03M	77.04M	37.55M	25.09M	15.53M
Total Liabilities	11.49B	8.15B	6.40B	3.69B	4.03B	3.73B
Stockholders Equity	5.23B	5.75B	5.54B	4.14B	3.95B	3.91B
Cash Flow
Free Cash Flow	620.10M	1.85B	1.46B	538.85M	-124.92M	336.10M
Operating Cash Flow	834.31M	1.87B	1.52B	802.65M	-117.22M	345.97M
Investing Cash Flow	807.26M	241.83M	-236.86M	-934.98M	668.35M	-616.27M
Financing Cash Flow	-149.67M	-844.36M	-26.06M	-437.95M	-548.49M	652.53M

Zero One Technology Co., Ltd. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:3029 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:3029	77Outperform	TWD 20.79B	17.94	―	4.07%	―	―
TW:8099	75Outperform	TWD 13.71B	44.91	―	1.40%	27.23%	58.65%
TW:2480	70Outperform	TWD 18.08B	19.57	―	4.31%	14.18%	17.00%
TW:3693	59Neutral	TWD 26.65B	45.88	―	1.17%	-20.76%	-34.98%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
TW:3033	53Neutral	TWD 19.77B	8.00	―	5.01%	19.40%	191.59%

* General Sector Average

Performance Comparison

TW:3029 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:3029	Zero One Technology Co., Ltd.	135.00	25.36	23.13%
TW:2480	Stark Technology, Inc.	181.00	38.48	27.00%
TW:3033	Weikeng Industrial Co., Ltd.	38.30	9.07	31.05%
TW:3693	AIC, Inc.	682.00	354.29	108.11%
TW:7805	QNAP Systems, Inc.	388.50	-189.67	-32.81%
TW:8099	Tatung System Technologies Inc.	150.50	81.26	117.36%

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

Zero One Technology Co., Ltd. AI Stock Analysis