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Wholetech System Hitech Limited (3402) AI Stock Analysis

TW:3402

Wholetech System Hitech Limited

(TPEx:3402)

Select Model
Rating:62Neutral
Price Target:TWD 109.00â–¼(-8.02% Downside)
Action:initiatedcoverage
Date:11/10/26

Strong balance sheet and profitability form the main support for the score, while weak technical momentum from price action below moving averages limits upside.

Positive Factors
Improving ProfitabilityMargin expansion across gross, EBIT, and net profit indicates improved operating profitability rather than reliance on a single bottom-line measure. If maintained, stronger margins can support earnings resilience and internal funding capacity over the next several quarters, even with slower sales growth.
Negative Factors
Weak Cash ConversionThe sharp divergence between positive accounting profit and negative operating and free cash flow creates a material cash-conversion risk. If this reflects recurring working-capital or project-timing pressure, it could constrain reinvestment, dividends, and balance-sheet flexibility despite reported earnings.

Wholetech System Hitech Limited (3402) vs. SPDR S&P 500 ETF (SPY)

-10%0%10%20%30%40%TW:3402+6.60%SPY+14.28%Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
Market Cap
TWD 8.30B
Dividend Yield
5.06%
Average Volume (3M)
250.97K
Price to Earnings (P/E)
14.6
Beta (1Y)
1.05
Revenue Growth
17.22%
EPS Growth
2.00%
Country
TW
Employees
200
Sector
General
Sector Strength
55
Industry
Engineering & Construction

Wholetech System Hitech Limited Business Overview & Revenue Model

Company Description

Wholetech System Hitech Limited, operating across Taiwan, China, and Singapore, specializes in providing comprehensive turnkey and system integration solutions. Their extensive service portfolio includes the design, installation, and maintenance of d...

Wholetech System Hitech Limited Financial Statement Overview

Summary

Healthy profitability with rising margins and an excellent low-debt balance sheet provide stability, though recent negative cash flow raises concerns about working capital management.

Income Statement

76Positive

Balance Sheet

91Very Positive

Cash Flow

38Negative
Financial statement breakdown
BreakdownTTMDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue5.67B5.25B5.49B4.44B4.78B3.43B
Gross Profit1.23B1.23B1.16B927.85M831.27M676.88M
EBITDA763.46M776.00M750.36M592.28M573.72M415.14M
Net Income524.15M547.75M495.12M399.03M385.71M281.19M
Balance Sheet
Total Assets6.99B6.32B6.52B6.14B6.17B3.85B
Cash, Cash Equivalents and Short-Term Investments2.47B2.44B3.40B2.26B2.38B902.66M
Total Debt181.86M89.15M41.70M396.26M290.98M81.28M
Total Liabilities4.88B4.06B4.46B4.27B4.39B2.24B
Stockholders Equity2.11B2.26B2.06B1.87B1.78B1.61B
Cash Flow
Free Cash Flow-124.33M-672.01M1.79B123.92M1.51B81.08M
Operating Cash Flow222.24M-248.38M2.07B237.30M1.73B115.72M
Investing Cash Flow-346.00M-246.33M-261.18M-263.54M-220.15M-69.07M
Financing Cash Flow-323.39M-324.31M-676.20M-211.69M-31.25M-112.67M

Wholetech System Hitech Limited Peers Comparison

Overall Rating

UnderperformOutperform
Sector (55)

Financial Indicators

TW:3402 against its peers
NameOverall RatingMarket CapP/E RatioROEDividend YieldRevenue GrowthEPS Growth
TW:6894TW:689467NeutralTWD 8.26B19.34―2.46%57.62%81.72%
TW:8473TW:847364NeutralTWD 6.98B9.98―2.27%31.21%125.14%
TW:3402TW:340262NeutralTWD 8.01B14.55―5.06%17.22%2.00%
Sector *55Neutral$6.65B3.83-15.92%6.20%10.91%7.18%
TW:2030TW:203049NeutralTWD 7.28B9.38―1.95%9.86%784.60%
TW:4566TW:456647NeutralTWD 8.39B29.03―0.90%18.15%370.19%
TW:6654TW:665440UnderperformTWD 7.13B78.33――115.72%―

* General Sector Average

Performance Comparison

0%50%100%150%TW:3402TW:2030TW:4566TW:6654TW:6894TW:8473Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
TW:3402 and its peers over the selected period
Show on chartTickerCompany NamePriceChange% Change
TW:3402Wholetech System Hitech Limited118.503.022.62%
TW:2030Froch Enterprise Co., Ltd.25.6012.0288.57%
TW:4566GLOBAL TEK FABRICATION CO., Ltd.76.2025.0148.85%
TW:6654Tian Zheng International Precision Machinery Co., Ltd.178.0093.00109.41%
TW:6894Waste Recovery Technology Inc345.00132.9362.68%
TW:8473Forest Water Environmental Engineering Co., Ltd.34.401.655.05%
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