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Universal Microwave Technology, Inc. (3491) AI Stock Analysis

TW:3491

Universal Microwave Technology, Inc.

(TPEx:3491)

Select Model
Rating:55Neutral
Price Target:TWD 1,112.00â–¼(-22.51% Downside)
Action:initiatedcoverage
Date:11/10/26

Solid financial performance from revenue and margin gains is the main positive, but bearish technical signals and stretched valuation limit the overall score.

Positive Factors
Revenue GrowthThe return to stronger revenue growth indicates improving demand for the company’s RF and microwave products after a weak prior year. Sustained top-line expansion can support operating leverage, fund product development, and reinforce its position in communications and high-frequency electronics markets.
Negative Factors
Free Cash Flow DeficitA large negative free-cash-flow result weakens the quality of current earnings and may constrain internally funded investment or shareholder returns. The reversal from positive generation also raises concern that reinvestment or working-capital needs could remain a material drain on cash.

Universal Microwave Technology, Inc. (3491) vs. SPDR S&P 500 ETF (SPY)

-100%0%100%200%300%400%TW:3491+217.39%SPY+14.30%Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
Market Cap
TWD 103.66B
Dividend Yield
0.47%
Average Volume (3M)
1.52M
Price to Earnings (P/E)
121.2
Beta (1Y)
1.59
Revenue Growth
61.31%
EPS Growth
111.10%
Country
TW
Employees
750
Sector
General
Sector Strength
55
Industry
Communication Equipment

Universal Microwave Technology, Inc. Business Overview & Revenue Model

Company Description

Universal Microwave Technology, Inc. (UMT) specializes in the engineering and production of bespoke microwave and millimeter-wave devices, alongside a variety of antennas, all designed to facilitate advanced broadband wireless communications. Their e...

Universal Microwave Technology, Inc. Financial Statement Overview

Summary

Robust revenue growth and margin expansion supported by expanding equity and controlled leverage, offset by negative free cash flow from heavy investment spending.

Income Statement

86Very Positive

Balance Sheet

79Positive

Cash Flow

47Neutral
Financial statement breakdown
BreakdownTTMDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue3.24B2.45B2.33B1.59B1.84B1.76B
Gross Profit1.80B1.22B1.20B641.13M750.90M655.32M
EBITDA996.83M687.38M850.36M388.66M497.62M426.08M
Net Income865.34M519.11M546.87M200.11M271.00M236.64M
Balance Sheet
Total Assets7.24B5.20B4.28B3.40B3.45B3.53B
Cash, Cash Equivalents and Short-Term Investments2.76B1.42B1.33B1.44B1.37B1.29B
Total Debt1.23B833.80M1.04B441.22M557.23M561.39M
Total Liabilities2.70B1.58B1.77B937.14M1.06B1.15B
Stockholders Equity4.54B3.62B2.45B2.06B1.97B1.99B
Cash Flow
Free Cash Flow-322.26M-344.63M165.16M416.36M333.54M150.40M
Operating Cash Flow640.50M471.15M713.01M527.40M420.31M184.36M
Investing Cash Flow-1.06B-816.74M-160.39M-375.69M230.68M-297.19M
Financing Cash Flow1.43B400.11M-45.92M-379.68M-284.41M-76.19M

Universal Microwave Technology, Inc. Peers Comparison

Overall Rating

UnderperformOutperform
Sector (55)

Financial Indicators

TW:3491 against its peers
NameOverall RatingMarket CapP/E RatioROEDividend YieldRevenue GrowthEPS Growth
TW:4979TW:497961NeutralTWD 54.47B58.49―0.54%23.09%43.10%
TW:6285TW:628559NeutralTWD 92.58B16.16―2.21%29.79%88.44%
Sector *55Neutral$6.65B3.83-15.92%6.20%10.91%7.18%
TW:3491TW:349155NeutralTWD 89.88B121.16―0.47%61.31%111.10%
TW:4991TW:499154NeutralTWD 42.26B81.53――52.19%―
TW:3167TW:316753NeutralTWD 71.70B63.61―0.44%121.90%250.43%

* General Sector Average

Performance Comparison

0%100%200%300%400%TW:3491TW:3167TW:4979TW:4991TW:6285TW:7861Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
TW:3491 and its peers over the selected period
Show on chartTickerCompany NamePriceChange% Change
TW:3491Universal Microwave Technology, Inc.1435.00972.43210.23%
TW:3167Ta Liang Technology Co., Ltd.881.00676.99331.84%
TW:4979Luxnet Corporation396.00200.51102.57%
TW:4991GCS Holdings, Inc.357.00198.08124.64%
TW:6285WNC Corporation194.5094.6894.86%
TW:7861Bellwether Electronic Corp.728.00403.97124.67%
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