ASRock Incorporation (3515) AI Stock Analysis

ASRock Incorporation

(TWSE:3515)

Select Model

Rating:68Neutral

Price Target:TWD 218.00▲(6.60% Upside)

Action:initiatedcoverage

Date:11/10/26

Strong financial performance driven by robust balance sheet is the primary positive factor. Weak technical indicators reflecting recent price weakness below moving averages limit the score. Attractive valuation with reasonable P/E and high yield provides additional support.

Positive Factors

Revenue GrowthThe acceleration in revenue growth indicates improving demand and market activity for ASRock’s hardware portfolio. If sustained, stronger top-line expansion can support operating leverage, fund product development, and reinforce the company’s position across consumer, commercial, and embedded computing markets.

Negative Factors

Modest Profit MarginsModest margins leave ASRock with limited protection if costs rise or hardware pricing becomes more competitive. Lower profitability also reduces the earnings benefit from revenue growth and makes sustained improvement dependent on favorable product mix, pricing discipline, and continued operating-cost control.

ASRock Incorporation (3515) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 24.83B
Dividend Yield: 5.38%
Average Volume (3M): 544.83K
Price to Earnings (P/E): 11.6
Beta (1Y): 0.88
Revenue Growth: 24.91%
EPS Growth: 21.20%
Country: TW
Employees: 600
Sector: General
Sector Strength: 55
Industry: Computer Hardware

ASRock Incorporation Business Overview & Revenue Model

Company Description

ASROCK Incorporation, a Taiwan-based enterprise, is a key player in the production and sale of motherboards. The company's comprehensive product range also includes graphics cards, various networking solutions, compact and industrial personal compute...

ASRock Incorporation Financial Statement Overview

Summary

Strong balance sheet with minimal debt provides excellent stability; revenue growth positive but margins compressed and cash flow shows some volatility.

Income Statement

65Positive

Balance Sheet

91Very Positive

Cash Flow

72Positive

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	48.83B	47.84B	25.65B	18.99B	17.12B	19.76B
Gross Profit	42.17B	41.36B	4.87B	3.83B	3.70B	5.56B
EBITDA	3.50B	3.04B	2.14B	1.41B	1.57B	3.16B
Net Income	1.91B	1.89B	1.29B	919.04M	1.07B	2.38B
Balance Sheet
Total Assets	31.68B	27.13B	19.64B	14.38B	14.77B	15.89B
Cash, Cash Equivalents and Short-Term Investments	4.79B	7.73B	4.76B	4.92B	3.93B	3.49B
Total Debt	1.52B	63.16M	477.47M	142.11M	696.77M	91.02M
Total Liabilities	16.60B	12.03B	9.28B	5.49B	5.87B	7.11B
Stockholders Equity	11.62B	11.99B	9.30B	8.12B	8.19B	8.27B
Cash Flow
Free Cash Flow	-4.81B	1.07B	-294.75M	2.59B	1.04B	971.19M
Operating Cash Flow	-4.67B	1.27B	922.43M	2.64B	1.14B	1.02B
Investing Cash Flow	-212.87M	-499.06M	-406.63M	-1.50B	868.78M	-516.84M
Financing Cash Flow	3.70B	1.95B	-264.77M	-1.68B	-1.03B	-953.23M

ASRock Incorporation Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:3515 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:3515	68Neutral	TWD 25.14B	11.57	―	5.38%	24.91%	21.20%
TW:3693	59Neutral	TWD 26.65B	45.88	―	1.17%	-20.76%	-34.98%
TW:6166	56Neutral	TWD 19.80B	16.47	―	1.28%	31.89%	141.45%
TW:6579	56Neutral	TWD 22.88B	12.07	―	2.76%	27.97%	109.74%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
TW:2362	54Neutral	TWD 23.62B	6.64	―	4.96%	-0.99%	91.52%
TW:2388	54Neutral	TWD 31.52B	33.04	―	0.09%	-2.83%	4352.20%

* General Sector Average

Performance Comparison

TW:3515 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:3515	ASRock Incorporation	204.50	-58.05	-22.11%
TW:2362	Clevo Co.	40.30	-0.79	-1.91%
TW:2388	VIA Technologies, Inc.	56.60	6.23	12.37%
TW:3693	AIC, Inc.	682.00	354.29	108.11%
TW:6166	Adlink Technology Inc.	93.40	37.10	65.91%
TW:6579	AAEON Technology Inc.	136.00	22.15	19.45%

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

ASRock Incorporation AI Stock Analysis