104 Corporation (3130) AI Stock Analysis

104 Corporation

(TWSE:3130)

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Rating:69Neutral

Price Target:TWD 223.00▲(8.52% Upside)

Action:initiatedcoverage

Date:11/10/26

The overall score of 69 reflects a strong fundamental company facing significant near-term market headwinds. The company's financial performance is excellent, anchored by a nearly debt-free balance sheet, high returns on equity, and strong cash generation. An attractive valuation with a low P/E and high dividend yield further supports the investment case. However, these positives are heavily offset by a bearish technical picture, with the stock in a clear downtrend and exhibiting oversold momentum. The primary risk is that the market's negative sentiment, as shown by the technicals, may persist despite the company's solid financial footing.

Positive Factors

Steady Revenue ExpansionConsistent revenue expansion indicates sustained demand for the company’s recruitment and HR platform services, while the 2025 acceleration suggests stronger business momentum. A growing revenue base can support continued investment in digital properties, employer solutions, and broader career-service offerings.

Negative Factors

2025 Margin CompressionMargin compression alongside faster revenue growth suggests that incremental costs or pricing pressure may be reducing the profitability of new sales. If this persists, stronger top-line performance could translate into weaker earnings progression and constrain future operating leverage.

104 Corporation (3130) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 6.82B
Dividend Yield: 7.16%
Average Volume (3M): 51.27K
Price to Earnings (P/E): 11.8
Beta (1Y): 0.14
Revenue Growth: 8.65%
EPS Growth: 20.88%
Country: TW
Employees: 1,123
Sector: General
Sector Strength: 55
Industry: Staffing & Employment Services

104 Corporation Business Overview & Revenue Model

Company Description

104 Corporation engages in the information technology, general advertising, employment, and human resource consultancy services in Taiwan and internationally. It offers online recruitment, advertising, learning, HR Salary management system, HR assess...

104 Corporation Financial Statement Overview

Summary

The company exhibits excellent financial health with fortress-like balance sheet strength (Score 88), strong cash flow conversion (Score 82), and highly profitable operations (Score 78). The weighted average of these sub-scores reflects a robust financial foundation, though gradual margin compression is a minor concern.

Income Statement

78Positive

Balance Sheet

88Very Positive

Cash Flow

82Very Positive

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	2.86B	2.67B	2.50B	2.33B	2.18B	1.85B
Gross Profit	2.43B	2.21B	2.18B	2.02B	1.95B	1.67B
EBITDA	720.36M	635.67M	668.86M	628.82M	595.13M	478.06M
Net Income	575.85M	488.05M	469.36M	451.56M	445.26M	370.44M
Balance Sheet
Total Assets	4.15B	3.97B	3.74B	3.53B	3.32B	2.95B
Cash, Cash Equivalents and Short-Term Investments	2.81B	2.86B	3.10B	2.90B	2.85B	2.52B
Total Debt	96.29M	127.87M	149.36M	147.48M	92.14M	69.19M
Total Liabilities	2.40B	2.26B	2.05B	1.87B	1.66B	1.37B
Stockholders Equity	1.74B	1.71B	1.69B	1.66B	1.65B	1.57B
Cash Flow
Free Cash Flow	943.16M	771.76M	693.81M	579.41M	733.60M	575.58M
Operating Cash Flow	968.45M	823.39M	781.85M	662.51M	768.76M	602.88M
Investing Cash Flow	-431.24M	-1.06B	-368.02M	-168.76M	-1.56B	-26.06M
Financing Cash Flow	-529.91M	-510.34M	-492.95M	-481.27M	-404.94M	-291.87M

104 Corporation Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:3130 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:5403	77Outperform	TWD 6.91B	10.49	―	7.25%	2.60%	-2.42%
TW:6763	73Outperform	TWD 6.47B	8.99	―	8.08%	10.75%	-51.48%
TW:5278	72Outperform	TWD 7.32B	15.41	―	5.36%	16.37%	66.96%
TW:3130	69Neutral	TWD 6.80B	11.84	―	7.16%	8.65%	20.88%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
TW:2614	55Neutral	TWD 6.02B	8.29	―	3.11%	-3.76%	-20.11%
TW:3086	47Neutral	TWD 5.56B	-390.48	―	0.07%	-2.07%	-17.71%

* General Sector Average

Performance Comparison

TW:3130 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:3130	104 Corporation	205.50	-4.06	-1.94%
TW:2614	Eastern Media International Corporation	12.85	-6.09	-32.16%
TW:3086	Wayi International Digital Entertainment Co., Ltd.	20.50	-2.15	-9.49%
TW:5278	Sunfun Info Co., Ltd.	24.65	-4.06	-14.15%
TW:5403	Dimerco Data System Corporation	89.70	-19.72	-18.02%
TW:6763	Green World Fintech Service Co., Ltd.	37.15	-18.85	-33.66%

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

104 Corporation AI Stock Analysis