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USUN Technology Co.,Ltd (3498) AI Stock Analysis

TW:3498

USUN Technology Co.,Ltd

(TPEx:3498)

Select Model
Rating:68Neutral
Price Target:TWD 210.00â–²(0.24% Upside)
Action:initiatedcoverage
Date:11/10/26

The score is supported primarily by the exceptionally strong, low-debt balance sheet and the meaningful 2025 recovery in earnings and cash generation. Low profitability and returns, weak recent technical momentum, and a high P/E ratio materially reduce the score.

Positive Factors
2025 Profitability RecoveryThe return to positive operating profit and net income, alongside revenue recovery and better gross and operating margins, indicates improved execution and demand. If this recovery persists, it can rebuild earnings power and provide a stronger base for reinvestment over the next several quarters.
Negative Factors
Thin Net MarginA thin net margin leaves limited room for cost increases, pricing pressure, or other operating volatility to be absorbed before earnings are affected. Consequently, the 2025 recovery may not translate into durable bottom-line strength unless the company can maintain margin improvements and improve conversion to net income.

USUN Technology Co.,Ltd (3498) vs. SPDR S&P 500 ETF (SPY)

-100%0%100%200%300%400%500%TW:3498+333.75%SPY+14.30%Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
Market Cap
TWD 13.17B
Dividend Yield
―
Average Volume (3M)
3.78M
Price to Earnings (P/E)
48.8
Beta (1Y)
0.93
Revenue Growth
132.83%
EPS Growth
―
Country
TW
Employees
845
Sector
General
Sector Strength
55
Industry
Industrial - Machinery

USUN Technology Co.,Ltd Business Overview & Revenue Model

Company Description

Usun Technology Co., Ltd. focuses on developing and applying touch and panel-level materials for a broad spectrum of electronic products, including computers, communication devices, and consumer electronics. The company also provides advanced industr...

USUN Technology Co.,Ltd Financial Statement Overview

Summary

Strong balance sheet with very low leverage, alongside a 2025 recovery in revenue, profitability, operating cash flow, and free cash flow. Low net margins, weak return on equity, and uneven historical performance limit the score.

Income Statement

68Positive

Balance Sheet

88Very Positive

Cash Flow

76Positive
Financial statement breakdown
BreakdownTTMDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue1.81B1.36B946.87M1.20B1.74B1.47B
Gross Profit761.34M495.48M275.21M333.29M446.02M502.45M
EBITDA901.29M172.74M-101.18M-77.08M152.68M95.87M
Net Income268.43M29.12M-151.12M-146.26M102.64M16.55M
Balance Sheet
Total Assets5.35B4.04B3.17B3.09B3.82B3.97B
Cash, Cash Equivalents and Short-Term Investments2.47B1.71B1.55B1.37B1.33B1.34B
Total Debt35.05M65.80M113.57M74.70M169.20M286.79M
Total Liabilities2.86B1.80B947.01M767.62M1.44B1.66B
Stockholders Equity2.49B2.24B2.22B2.32B2.38B2.31B
Cash Flow
Free Cash Flow958.43M193.49M-3.71M-806.00K81.62M-176.33M
Operating Cash Flow972.59M199.81M3.69M13.85M105.35M-150.63M
Investing Cash Flow-895.87M-285.17M-208.64M309.73M-84.70M48.94M
Financing Cash Flow-23.59M-53.31M31.40M-218.54M-144.81M218.80M

USUN Technology Co.,Ltd Peers Comparison

Overall Rating

UnderperformOutperform
Sector (55)

Financial Indicators

TW:3498 against its peers
NameOverall RatingMarket CapP/E RatioROEDividend YieldRevenue GrowthEPS Growth
TW:3416TW:341669NeutralTWD 12.38B16.32―3.16%31.00%32.07%
TW:3498TW:349868NeutralTWD 11.25B48.76――132.83%―
TW:3088TW:308867NeutralTWD 12.32B12.87―2.63%35.40%73.91%
TW:6245TW:624564NeutralTWD 12.61B17.60―4.29%11.74%8.17%
Sector *55Neutral$6.65B3.83-15.92%6.20%10.91%7.18%
TW:8050TW:805051NeutralTWD 9.99B12.97―4.15%17.15%104.20%
TW:3701TW:370150NeutralTWD 13.61B-24.81―0.35%-16.41%-435.36%

* General Sector Average

Performance Comparison

0%100%200%300%400%TW:3498TW:3088TW:3416TW:3701TW:6245TW:8050Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
TW:3498 and its peers over the selected period
Show on chartTickerCompany NamePriceChange% Change
TW:3498USUN Technology Co.,Ltd209.50159.30317.33%
TW:3088Axiomtek Co Ltd111.5037.4050.48%
TW:3416Winmate Inc.146.5010.757.92%
TW:3701FIC Global, Inc.63.2030.8095.06%
TW:6245Lanner Electronics Inc.88.5020.5130.17%
TW:8050iBASE Technology Inc.51.806.8415.21%
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