Sun Brothers Development Co., Ltd. (3489) AI Stock Analysis

Sun Brothers Development Co., Ltd.

(TPEx:3489)

Select Model

Rating:43Neutral

Price Target:TWD 22.00▼(-2.44% Downside)

Action:initiatedcoverage

Date:11/10/26

Weak financial performance is the primary constraint, driven by sharply lower revenue, losses, and negative cash flow. Technical indicators are only mildly supportive, while the exceptionally high P/E ratio materially offsets the high dividend yield.

Positive Factors

Improving LeverageThe decline in debt-to-equity indicates some progress in reducing balance-sheet pressure, even though leverage remains elevated. If sustained, this improvement could lower financial risk, preserve borrowing capacity, and give management greater flexibility to support operations through uneven earnings periods.

Negative Factors

Sharp Revenue ContractionA revenue decline of this magnitude materially weakens operating scale and makes fixed-cost absorption more difficult. The contraction also reduces the base from which future earnings can grow, raising concern that the company may need sustained business recovery before profitability becomes dependable.

Sun Brothers Development Co., Ltd. (3489) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 2.04B
Dividend Yield: 13.30%
Average Volume (3M): 151.39K
Price to Earnings (P/E): 7741.4
Beta (1Y): 0.41
Revenue Growth: -56.20%
EPS Growth: ―
Country: TW
Employees: 188
Sector: General
Sector Strength: 55
Industry: Computer Hardware

Sun Brothers Development Co., Ltd. Business Overview & Revenue Model

Company Description

Sun Brothers Development Co., Ltd. engages in the development and sale of residences and buildings. It operates through the following business segments: Construction and Real Property Sales. The company was founded on June 8, 1991 and is headquartere...

Sun Brothers Development Co., Ltd. Financial Statement Overview

Summary

Severe revenue decline, a 2025 net loss, and negative operating and free cash flow substantially weaken performance. Reduced leverage and meaningful equity provide limited support.

Income Statement

18Very Negative

Balance Sheet

43Neutral

Cash Flow

16Very Negative

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	963.14M	719.07M	2.38B	741.50M	923.34M	1.91B
Gross Profit	60.36M	47.05M	82.35M	45.68M	72.00M	182.56M
EBITDA	24.90M	10.40M	-39.44M	32.75M	41.09M	73.67M
Net Income	337.00K	-8.45M	-80.11M	9.78M	24.31M	47.62M
Balance Sheet
Total Assets	4.23B	3.92B	3.84B	4.70B	3.94B	3.47B
Cash, Cash Equivalents and Short-Term Investments	545.58M	462.66M	898.53M	757.11M	497.79M	428.28M
Total Debt	1.74B	1.46B	1.56B	2.44B	2.22B	1.80B
Total Liabilities	3.29B	2.71B	2.58B	3.32B	2.64B	2.15B
Stockholders Equity	936.42M	1.21B	1.26B	1.38B	1.30B	1.32B
Cash Flow
Free Cash Flow	-422.45M	-384.09M	1.06B	39.32M	-215.61M	288.92M
Operating Cash Flow	-422.45M	-383.94M	1.06B	39.32M	-215.48M	289.13M
Investing Cash Flow	223.00K	-150.04M	862.00K	-775.00K	516.00K	-378.00K
Financing Cash Flow	194.19M	-51.90M	-897.90M	277.16M	349.37M	-290.46M

Sun Brothers Development Co., Ltd. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:3489 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:3512	58Neutral	TWD 2.14B	9.67	―	9.50%	-6.81%	92.51%
TW:2937	57Neutral	TWD 2.06B	10.51	―	4.03%	12.09%	10.86%
TW:3521	56Neutral	TWD 2.08B	6.73	―	―	-90.52%	―
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
TW:5455	48Neutral	TWD 1.96B	-47.57	―	―	-99.39%	-109.36%
TW:3489	43Neutral	TWD 2.04B	7741.38	―	13.30%	-56.20%	―
TW:6222	39Underperform	TWD 2.09B	-63.25	―	―	-38.69%	20.60%

* General Sector Average

Performance Comparison

TW:3489 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:3489	Sun Brothers Development Co., Ltd.	22.55	5.91	35.48%
TW:2937	Gseven Co., Ltd.	43.05	4.39	11.34%
TW:3512	Huang Long Development Co., Ltd.	18.95	-0.29	-1.49%
TW:3521	TSG Development Co., Ltd.	11.20	-0.70	-5.88%
TW:5455	Sheng Yi Development Co.,Ltd	29.90	0.90	3.10%
TW:6222	Li Hsuan Development & Construction Co., Ltd.	18.90	-1.20	-5.97%

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 10, 2026

Sun Brothers Development Co., Ltd. AI Stock Analysis