Megawin Technology Co., Ltd. (3122) AI Stock Analysis

Megawin Technology Co., Ltd.

(TPEx:3122)

Select Model

Rating:39Underperform

Price Target:TWD 18.00▼(-15.49% Downside)

Action:initiatedcoverage

Date:11/10/26

The score is primarily constrained by sustained losses, negative operating and free cash flow, and a bearish technical trend. Oversold momentum conditions and manageable leverage provide only limited support.

Positive Factors

Analog and mixed-signal product focusA focused analog and mixed-signal portfolio gives Megawin a defined role in electronic systems and supports repeat product development around power management needs. Serving both consumer and industrial electronics provides multiple application areas for its technical capabilities over time.

Negative Factors

Declining revenue and current lossesTwo consecutive years of revenue decline combined with a sizable net loss show that the current business trajectory is not converting its product portfolio into profitable growth. Continued weakness could reduce operating leverage and make it harder to support development and customer activities.

Megawin Technology Co., Ltd. (3122) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 876.44M
Dividend Yield: ―
Average Volume (3M): 51.12K
Price to Earnings (P/E): -14.7
Beta (1Y): 1.14
Revenue Growth: -7.24%
EPS Growth: 16.51%
Country: TW
Employees: 70
Sector: General
Sector Strength: 55
Industry: Semiconductors

Megawin Technology Co., Ltd. Business Overview & Revenue Model

Company Description

Megawin Technology Co., Ltd., along with its various affiliates, specializes in the development and distribution of integrated circuits for markets in Taiwan and worldwide. The company's extensive product line encompasses single-chip and high-speed m...

Megawin Technology Co., Ltd. Financial Statement Overview

Summary

Very weak overall financial performance: profitability and cash flow are negative, revenue declined, and equity has deteriorated. Manageable leverage provides limited support.

Income Statement

20Very Negative

Balance Sheet

55Neutral

Cash Flow

25Negative

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	319.82M	324.17M	364.67M	371.28M	510.94M	785.79M
Gross Profit	104.68M	106.69M	119.44M	127.96M	189.20M	343.19M
EBITDA	-36.02M	-45.27M	-29.84M	-24.23M	35.70M	151.18M
Net Income	-58.53M	-71.49M	-58.03M	-41.27M	17.41M	129.33M
Balance Sheet
Total Assets	411.07M	614.89M	705.02M	724.68M	771.24M	927.66M
Cash, Cash Equivalents and Short-Term Investments	100.22M	298.66M	343.70M	367.61M	345.63M	542.54M
Total Debt	21.69M	196.53M	191.22M	199.67M	198.90M	199.07M
Total Liabilities	87.39M	252.31M	271.41M	265.83M	269.04M	370.65M
Stockholders Equity	323.68M	362.58M	433.61M	458.86M	502.20M	557.01M
Cash Flow
Free Cash Flow	-20.63M	-42.39M	-7.79M	37.96M	-101.12M	169.75M
Operating Cash Flow	-15.42M	-35.57M	15.16M	43.13M	-86.85M	173.04M
Investing Cash Flow	166.95M	-419.00K	-117.74M	8.91M	-50.64M	-138.78M
Financing Cash Flow	-186.02M	-1.63M	7.96M	-5.14M	-76.72M	216.47M

Megawin Technology Co., Ltd. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:3122 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
TW:5487	48Neutral	TWD 660.06M	-298.39	―	―	-5.35%	82.24%
TW:5272	42Neutral	TWD 844.22M	-8.89	―	―	-4.95%	-56.56%
TW:3259	40Underperform	TWD 669.83M	-3.87	―	―	17.28%	5.27%
TW:3122	39Underperform	TWD 852.13M	-14.69	―	―	-7.24%	16.51%
TW:3268	38Underperform	TWD 751.71M	-234.89	―	―	0.41%	94.87%

* General Sector Average

Performance Comparison

TW:3122 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:3122	Megawin Technology Co., Ltd.	21.30	-1.85	-7.99%
TW:3184	MicroBase Technology Corp.	13.65	1.60	13.32%
TW:3259	Solid State System Co., Ltd.	9.18	-14.32	-60.94%
TW:3268	Higher Way Electronic Co., Ltd.	20.85	3.25	18.47%
TW:5272	AMICCOM Electronics Corp.	16.00	-3.45	-17.74%
TW:5487	Tontek Design Technology Ltd.	27.50	-2.85	-9.39%

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

Megawin Technology Co., Ltd. AI Stock Analysis