GeoVision, Inc. (3356) AI Stock Analysis

GeoVision, Inc.

(TWSE:3356)

Select Model

Rating:58Neutral

Price Target:TWD 65.00▼(-0.76% Downside)

Action:initiatedcoverage

Date:11/09/26

GeoVision scores in the middle of the range. Its greatest strength is an exceptionally conservative balance sheet with almost no debt and equity funding around 90% of assets, which provides real downside protection and supports a very low 4.6x P/E and a 9.4% dividend yield. However, these headline attractions are undermined by a multi-year revenue decline, an operating margin compressed to about 4%, and reported profits plus return on equity that stem largely from non-operating gains rather than the core business — a gap underlined by operating cash flow falling roughly 80% over two years. Technicals add further caution, with the price below all key moving averages and a negative MACD, although deeply oversold RSI and Stochastic readings suggest the selling may be extended. The key watch item is whether management can stabilise revenue and rebuild operating profitability, since the current earnings profile is not sustainable without recurring one-off gains.

Positive Factors

Very Low LeverageVery low leverage and substantial equity backing provide financial resilience and flexibility. The company has less debt-related pressure when funding operations or absorbing weaker periods, while its capital structure supports continued investment without relying heavily on external borrowing.

Negative Factors

Persistent Revenue DeclinesMultiple consecutive years of revenue decline point to a sustained growth problem rather than a single weak reporting period. Continued contraction can reduce operating leverage, limit reinvestment capacity, and make it harder for GeoVision to expand its position in the security solutions market.

GeoVision, Inc. (3356) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 4.41B
Dividend Yield: 8.95%
Average Volume (3M): 546.66K
Price to Earnings (P/E): 4.8
Beta (1Y): 0.66
Revenue Growth: -1.81%
EPS Growth: 529.31%
Country: TW
Employees: 195
Sector: General
Sector Strength: 55
Industry: Security & Protection Services

GeoVision, Inc. Business Overview & Revenue Model

Company Description

Globally, GeoVision Inc. and its subsidiaries are recognized as a leading provider of digital and networked video surveillance solutions. Their extensive product portfolio includes a diverse range of IP cameras and comprehensive surveillance systems....

GeoVision, Inc. Financial Statement Overview

Summary

A split picture. The balance sheet is a genuine fortress (score 83): debt has been cut to roughly NT$62 million against NT$2.48 billion of equity, a debt-to-equity ratio near 2.5%, with equity funding about 90% of assets and growing every year since 2020. Offsetting this, the income statement (47) shows revenue declining in four of the last five years, down about 15% to NT$1.02 billion, with operating profit collapsing to roughly NT$38 million (a 4% operating margin). Reported net income of about NT$496 million and 20% return on equity are driven largely by non-operating gains rather than the core security products business, making earnings volatile and low quality. Cash flow (44) confirms the gap: operating cash flow fell about 80% over two years to roughly NT$63 million, covering only a small fraction of reported profit. Improving gross margin (above 50%) and an asset-light, capex-light model are positives, but core operations remain the key risk.

Income Statement

47Neutral

Balance Sheet

83Very Positive

Cash Flow

44Neutral

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	1.07B	1.02B	1.20B	1.26B	1.32B	1.25B
Gross Profit	528.39M	511.94M	572.02M	603.75M	614.91M	584.45M
EBITDA	331.11M	76.51M	728.68M	375.14M	251.00M	241.99M
Net Income	1.13B	496.30M	625.20M	287.18M	106.94M	176.54M
Balance Sheet
Total Assets	3.46B	2.76B	2.76B	2.48B	2.24B	2.70B
Cash, Cash Equivalents and Short-Term Investments	2.63B	2.01B	1.98B	1.55B	1.04B	1.47B
Total Debt	266.60M	61.80M	194.37M	209.76M	82.56M	366.45M
Total Liabilities	614.75M	265.43M	432.96M	434.20M	356.86M	861.32M
Stockholders Equity	2.83B	2.48B	2.31B	2.02B	1.86B	1.82B
Cash Flow
Free Cash Flow	20.05M	61.86M	323.38M	475.19M	76.98M	82.49M
Operating Cash Flow	21.78M	63.11M	323.75M	475.39M	77.74M	82.96M
Investing Cash Flow	777.76M	181.92M	-3.04M	6.82M	290.43M	90.09M
Financing Cash Flow	-478.63M	-455.76M	-412.64M	-96.67M	-423.02M	-204.78M

GeoVision, Inc. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:3356 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:2468	64Neutral	TWD 4.62B	50.22	―	1.46%	-1.96%	18.20%
TW:5489	64Neutral	TWD 3.89B	19.85	―	3.84%	10.02%	-11.10%
TW:3356	58Neutral	TWD 4.41B	4.77	―	8.95%	-1.81%	529.31%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
TW:6163	46Neutral	TWD 5.43B	42.55	―	1.50%	24.16%	78.64%
TW:2417	43Neutral	TWD 4.64B	23.77	―	0.76%	9.30%	―

* General Sector Average

Performance Comparison

TW:3356 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:3356	GeoVision, Inc.	65.50	15.47	30.93%
TW:2417	AVerMedia Technologies, Inc.	32.80	-3.96	-10.76%
TW:2468	Fortune Information System Corp.	68.30	26.67	64.08%
TW:5489	Dynacolor, Inc.	39.50	0.72	1.86%
TW:6163	Hwacom Systems Inc	38.50	11.44	42.28%
TW:7821	Mitac Digital Technology Corporation	31.45	-25.82	-45.09%

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

GeoVision, Inc. AI Stock Analysis