Sunty Development Co. Ltd. (3266) AI Stock Analysis

Sunty Development Co. Ltd.

(TWSE:3266)

Select Model

Rating:51Neutral

Price Target:TWD 14.00▲(3.32% Upside)

Action:initiatedcoverage

Date:11/09/26

The score is held back mainly by financials in a cyclical trough: revenue down 62%, profit down about 70%, deeply negative operating and free cash flow, and return on equity falling to 3.2% while debt rose to NT$4.38bn. Offsetting this, the company has stayed profitable every year, margins are at multi-year highs, and roughly 48% of assets are equity-funded, providing a reasonable cushion. Technically the stock is drifting below its short-term averages with fading momentum, though it still holds above longer-term trend lines and shows low volatility. Valuation is mixed — a 29x P/E on depressed earnings is offset by a solid 3.6% dividend yield. Overall this is a serviceable but volatile profile where the next leg depends on converting the current project pipeline back into cash.

Positive Factors

Improved Profitability MarginsThe sustained improvement in gross and net margins indicates that completed projects have generated stronger profitability than in earlier years. If maintained through future development cycles, these margins could provide greater earnings resilience and support internally funded growth.

Negative Factors

Severe Revenue CyclicalityThe sharp 2025 revenue decline highlights substantial dependence on project timing and the uneven recognition of property development sales. Such volatility can make earnings less predictable, complicate planning, and weaken the company’s ability to sustain growth consistently across reporting periods.

Sunty Development Co. Ltd. (3266) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 4.76B
Dividend Yield: 3.69%
Average Volume (3M): 37.19K
Price to Earnings (P/E): 28.7
Beta (1Y): 0.27
Revenue Growth: -46.16%
EPS Growth: -65.52%
Country: TW
Employees: 16
Sector: General
Sector Strength: 55
Industry: Real Estate - Development

Sunty Development Co. Ltd. Business Overview & Revenue Model

Company Description

Sunty Development Co., Ltd. is a Taiwanese firm that develops, leases, and sells both residential and commercial properties primarily within the Greater Taipei area. The company's operations are structured around two core divisions: a Real Estate Tra...

Sunty Development Co. Ltd. Financial Statement Overview

Summary

Sunty Development remains profitable with margins at multi-year highs (32.2% gross, 14.2% net), but the latest year marks a clear trough: revenue fell 62% to NT$1.43bn and net income dropped roughly 70% to NT$203m as fewer projects reached completion. The balance sheet is the relative strength, with equity funding about 48% of assets and debt-to-equity of 0.69 — elevated versus last year but moderate for the sector. Cash flow is the weakest link, swinging to negative NT$1.66bn as capital was redeployed into land and construction, leaving the company reliant on debt and existing liquidity until the next delivery cycle. Return on equity of 3.2% (down from 10.6%) and poor earnings visibility cap the score.

Income Statement

52Neutral

Balance Sheet

60Neutral

Cash Flow

38Negative

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	1.80B	1.43B	4.68B	4.24B	2.91B	1.02B
Gross Profit	455.28M	461.40M	1.47B	1.24B	568.91M	239.63M
EBITDA	216.90M	213.64M	947.01M	777.97M	247.58M	91.91M
Net Income	170.29M	203.44M	679.51M	683.72M	158.07M	41.16M
Balance Sheet
Total Assets	16.03B	13.31B	12.55B	13.14B	14.27B	13.48B
Cash, Cash Equivalents and Short-Term Investments	1.48B	1.21B	2.24B	1.29B	1.37B	1.62B
Total Debt	5.45B	4.38B	3.48B	4.12B	5.05B	4.36B
Total Liabilities	9.80B	6.91B	6.10B	7.11B	8.44B	7.81B
Stockholders Equity	6.21B	6.35B	6.42B	6.00B	5.44B	5.23B
Cash Flow
Free Cash Flow	-1.52B	-1.66B	1.65B	1.74B	-661.53M	-1.14B
Operating Cash Flow	-1.51B	-1.66B	1.65B	1.74B	-659.73M	-1.14B
Investing Cash Flow	38.31M	37.23M	76.21M	-49.31M	278.00K	1.98M
Financing Cash Flow	1.67B	630.28M	-892.77M	-1.10B	668.66M	1.41B

Sunty Development Co. Ltd. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:3266 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:5520	79Outperform	TWD 4.91B	8.62	―	8.55%	-2.83%	-6.29%
TW:5519	65Neutral	TWD 5.12B	4.44	―	14.83%	27.73%	65.34%
TW:9946	60Neutral	TWD 4.85B	3.23	―	9.32%	335.99%	1373.59%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
TW:4907	52Neutral	TWD 4.73B	5.56	―	3.75%	-16.37%	73.98%
TW:3266	51Neutral	TWD 4.77B	28.73	―	3.69%	-46.16%	-65.52%
TW:5523	39Underperform	TWD 4.67B	-265.87	―	1.66%	-25.53%	-403.43%

* General Sector Average

Performance Comparison

TW:3266 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:3266	Sunty Development Co. Ltd.	13.55	0.44	3.34%
TW:4907	Fu Yu Property Co. Ltd.	40.00	2.69	7.20%
TW:5519	Longda Construction & Development Corporation	22.25	-2.21	-9.02%
TW:5520	Lihtai Construction Enterprise Co., Ltd.	81.90	-2.51	-2.98%
TW:5523	Fong Chien Construction Co., Ltd.	30.15	0.74	2.53%
TW:9946	San Far Property Limited	14.85	-1.38	-8.51%

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

Sunty Development Co. Ltd. AI Stock Analysis