Winmate Inc. AI Stock Analysis
Winmate Inc. (3416) AI Stock Analysis
Winmate Inc.
(TWSE:3416)
Winmate earns a solid score driven primarily by its strong financial foundation: near-doubling of revenue since 2020, above-average margins, a very conservative balance sheet (debt-to-equity of 0.13), consistent mid-teens ROE, and high-quality cash conversion. Valuation is supportive, with a modest 17x P/E and a 3.15% dividend yield backed by healthy free cash flow. The score is held back by poor price action — the stock trades below all key moving averages with negative MACD momentum — and by margin erosion across gross, operating and net lines that caused earnings growth to trail revenue growth, alongside a dip in operating cash flow. Deeply oversold readings suggest a potential short-term stabilization, but the trend remains the main near-term risk.
Winmate Inc. (3416) vs. SPDR S&P 500 ETF (SPY)
- Market Cap
- TWD 12.42B
- Dividend Yield
- 3.16%
- Average Volume (3M)
- 365.69K
- Price to Earnings (P/E)
- 16.1
- Beta (1Y)
- 0.93
- Revenue Growth
- 31.00%
- EPS Growth
- 32.07%
- Country
- TW
- Employees
- 413
- Sector
- General
- Sector Strength
- 55
- Industry
- Hardware, Equipment & Parts
Winmate Inc. Business Overview & Revenue Model
Company Description
WinMate Inc., established in 1996 and headquartered in New Taipei City, Taiwan, is a global leader in the research, development, manufacturing, and distribution of ruggedized display equipment and robust mobile computing solutions. The company serves...
Winmate Inc. Financial Statement Overview
Summary
Winmate shows a strong, low-risk financial profile. Revenue has nearly doubled since 2020, reaching NT$3.64 billion with ~19% growth in the latest year, while margins (38.3% gross, 19.0% operating, 16.2% net) remain well above typical hardware peers. The balance sheet is the standout strength, with a debt-to-equity ratio of just 0.13, equity funding ~71% of assets, and stable 16–18% returns on equity. Cash flow quality is good, with free cash flow equal to 92% of net income. Offsetting these positives are broad margin compression that caused profit growth (+5.6%) to lag revenue growth, and a decline in operating cash flow from NT$665 million to NT$491 million as working capital absorbs more cash.
Income Statement
76PositiveBalance Sheet
85Very PositiveCash Flow
73Positive| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 4.14B | 3.64B | 3.06B | 2.60B | 2.66B | 2.50B |
| Gross Profit | 1.49B | 1.39B | 1.22B | 1.04B | 942.84M | 838.11M |
| EBITDA | 867.23M | 783.36M | 735.68M | 657.72M | 610.80M | 492.79M |
| Net Income | 692.98M | 591.00M | 559.45M | 505.95M | 452.43M | 364.71M |
Balance Sheet | ||||||
| Total Assets | 5.54B | 4.98B | 4.72B | 3.88B | 3.77B | 3.53B |
| Cash, Cash Equivalents and Short-Term Investments | 1.23B | 1.20B | 1.64B | 1.28B | 1.27B | 1.34B |
| Total Debt | 464.52M | 464.81M | 501.11M | 119.78M | 465.63M | 497.10M |
| Total Liabilities | 1.97B | 1.45B | 1.37B | 814.55M | 1.23B | 1.24B |
| Stockholders Equity | 3.57B | 3.53B | 3.35B | 3.07B | 2.54B | 2.29B |
Cash Flow | ||||||
| Free Cash Flow | 379.72M | 451.75M | 352.38M | 387.69M | 160.00M | 267.63M |
| Operating Cash Flow | 408.55M | 490.69M | 664.84M | 644.68M | 328.94M | 370.31M |
| Investing Cash Flow | 64.78M | -129.04M | -716.17M | -75.80M | -53.31M | -449.49M |
| Financing Cash Flow | -489.52M | -432.67M | 59.73M | -370.66M | -326.31M | 210.12M |
Winmate Inc. Peers Comparison
Overall Rating
TW:314770Outperform- TW:341669Neutral
TW:308867Neutral
TW:624564Neutral
TW:302262Neutral
TW:805051Neutral
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| TW:3147 | 70Outperform | TWD 15.33B | 17.55 | ― | 1.85% | 105.20% | 68.40% |
| TW:3416 | 69Neutral | TWD 12.38B | 16.15 | ― | 3.16% | 31.00% | 32.07% |
| TW:3088 | 67Neutral | TWD 12.32B | 12.47 | ― | 2.69% | 35.40% | 73.91% |
| TW:6245 | 64Neutral | TWD 12.61B | 19.61 | ― | 4.39% | 11.74% | 8.17% |
| TW:3022 | 62Neutral | TWD 12.93B | 9.75 | ― | 4.78% | 26.50% | 43.52% |
| Sector * | 55Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
| TW:8050 | 51Neutral | TWD 9.99B | 12.43 | ― | 4.21% | 17.15% | 103.91% |
* General Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| TW:3416 | Winmate Inc. | 146.50 | 6.60 | 4.72% | |
| TW:3022 | IEI Integration Corporation | 73.20 | 6.51 | 9.76% | |
| TW:3088 | Axiomtek Co Ltd | 109.00 | 33.43 | 44.24% | |
| TW:3147 | Jetwell Computer Co., Ltd. | 351.00 | 173.31 | 97.54% | |
| TW:6245 | Lanner Electronics Inc. | 86.60 | 16.42 | 23.40% | |
| TW:8050 | iBASE Technology Inc. | 51.00 | 5.46 | 11.98% |
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