Argosy Research Inc. (3217) AI Stock Analysis

Argosy Research Inc.

(TPEx:3217)

Select Model

Rating:78Outperform

Price Target:TWD 123.00▲(14.95% Upside)

Action:initiatedcoverage

Date:11/09/26

Robust financial performance and attractive valuation are the primary positive drivers, partially offset by bearish technical momentum.

Positive Factors

Strong profitabilitySustained high profitability indicates the company has been converting revenue into meaningful operating and net earnings across the period. This provides internal funding capacity, supports resilience through normal business fluctuations, and creates a durable base for shareholder returns.

Negative Factors

Operating margin volatilityLower operating and EBITDA margins despite higher sales indicate that incremental revenue was less profitable in 2025. If this pressure persists, it could limit earnings growth, reduce the benefit of future sales expansion, and weaken the company’s ability to compound profits.

Argosy Research Inc. (3217) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 9.82B
Dividend Yield: 9.35%
Average Volume (3M): 368.40K
Price to Earnings (P/E): 8.6
Beta (1Y): 0.79
Revenue Growth: -3.83%
EPS Growth: -10.19%
Country: TW
Employees: 1,435
Sector: General
Sector Strength: 55
Industry: Hardware, Equipment & Parts

Argosy Research Inc. Business Overview & Revenue Model

Company Description

Argosy Research Inc., headquartered in Hsinchu City, Taiwan, is engaged in the manufacturing and worldwide distribution of electronic components, connectors, and complete system products. The company's market footprint covers Asia, the United States,...

Argosy Research Inc. Financial Statement Overview

Summary

Strong revenue growth from 2.6B to over 4.1B with healthy ~50% gross and 27-29% net margins. Exceptionally clean balance sheet with near-zero leverage, ROE over 24%, and robust operating cash flow exceeding 1.2B supporting internal growth.

Income Statement

87Very Positive

Balance Sheet

96Very Positive

Cash Flow

89Very Positive

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	4.07B	4.15B	3.47B	3.00B	2.61B	3.02B
Gross Profit	2.00B	2.07B	1.74B	1.40B	1.02B	1.27B
EBITDA	1.43B	1.43B	1.41B	1.06B	891.42M	921.92M
Net Income	1.14B	1.14B	1.01B	728.68M	610.67M	640.22M
Balance Sheet
Total Assets	7.13B	6.15B	5.89B	5.32B	4.82B	4.92B
Cash, Cash Equivalents and Short-Term Investments	2.28B	1.95B	1.72B	1.38B	1.31B	1.18B
Total Debt	14.72M	10.40M	15.20M	16.76M	49.90M	9.13M
Total Liabilities	2.28B	1.47B	1.25B	1.03B	952.96M	1.02B
Stockholders Equity	4.85B	4.68B	4.65B	4.30B	3.87B	3.90B
Cash Flow
Free Cash Flow	944.85M	1.04B	873.41M	544.20M	730.18M	255.08M
Operating Cash Flow	1.18B	1.26B	1.01B	764.74M	876.97M	595.58M
Investing Cash Flow	-205.79M	-211.91M	-132.47M	-220.24M	-199.68M	-68.28M
Financing Cash Flow	-780.43M	-800.00M	-583.75M	-457.36M	-544.68M	-510.54M

Argosy Research Inc. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:3217 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:3217	78Outperform	TWD 9.60B	8.55	―	9.35%	-3.83%	-10.19%
TW:6263	75Outperform	TWD 9.84B	17.67	―	4.97%	0.94%	4.67%
TW:3209	59Neutral	TWD 11.57B	8.01	―	4.20%	22.25%	199.92%
TW:6277	59Neutral	TWD 8.70B	14.94	―	4.86%	12.17%	31.16%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
TW:2332	41Neutral	TWD 10.54B	-34.34	―	0.57%	5.89%	52.10%
TW:2485	39Underperform	TWD 10.02B	37.38	―	―	74.93%	―

* General Sector Average

Performance Comparison

TW:3217 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:3217	Argosy Research Inc.	107.00	-52.26	-32.81%
TW:2332	D-Link Corporation	16.15	0.60	3.86%
TW:2485	Zinwell Corporation	32.00	13.80	75.82%
TW:3209	Alltek Technology Corp.	47.60	16.88	54.94%
TW:6263	Planet Technology Corporation	157.00	30.19	23.81%
TW:6277	Aten International Co., Ltd.	72.00	14.19	24.54%

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

Argosy Research Inc. AI Stock Analysis