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Paragon Technologies Co., Ltd. (3518) AI Stock Analysis

TW:3518

Paragon Technologies Co., Ltd.

(TWSE:3518)

Select Model
Rating:42Neutral
Price Target:TWD 29.00â–¼(-9.38% Downside)
Action:initiatedcoverage
Date:11/09/26

Severe financial deterioration with revenue collapse, margin erosion, and heavy cash burn is the dominant factor weighing on the score, reinforced by weak technical momentum. Fair valuation provides only modest offset.

Positive Factors
Equity BufferA meaningful equity base gives Paragon a cushion against operating volatility and supports continued business activity while management addresses weak results. This buffer can reduce immediate financial strain, although its protection is weakened by rising leverage and ongoing losses.
Negative Factors
Contracting RevenueSeveral consecutive years of revenue contraction point to sustained pressure on demand, customer volumes, or product competitiveness rather than a brief quarterly setback. A shrinking sales base reduces operating leverage, limits reinvestment capacity, and makes a durable return to profitability more difficult.

Paragon Technologies Co., Ltd. (3518) vs. SPDR S&P 500 ETF (SPY)

-25%0%25%50%75%100%125%150%175%TW:3518+62.03%SPY+14.30%Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
Market Cap
TWD 3.04B
Dividend Yield
―
Average Volume (3M)
2.56M
Price to Earnings (P/E)
29.3
Beta (1Y)
1.32
Revenue Growth
-21.71%
EPS Growth
―
Country
TW
Employees
775
Sector
General
Sector Strength
55
Industry
Hardware, Equipment & Parts

Paragon Technologies Co., Ltd. Business Overview & Revenue Model

Company Description

Paragon Technologies specializes in the manufacturing and distribution of vacuum sputtering products, which includes solutions for electromagnetic interference (EMI) and electrostatic discharge (ESD) protection. The company provides a range of 3C fun...

Paragon Technologies Co., Ltd. Financial Statement Overview

Summary

Revenue fell sharply from 800 million peak to 320 million with gross margins collapsing below 7%, persistent net losses near -47%, negative operating cash flow of -100 million, and large free cash flow outflow signal severe distress.

Income Statement

22Negative

Balance Sheet

47Neutral

Cash Flow

15Very Negative
Financial statement breakdown
BreakdownTTMDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue276.94M319.90M353.99M382.57M457.22M800.10M
Gross Profit-16.00M21.72M70.88M66.05M113.34M291.90M
EBITDA-154.13M-90.93M-67.79M76.44M122.87M208.29M
Net Income218.31M-149.39M-212.09M-48.41M25.05M41.26M
Balance Sheet
Total Assets2.44B2.25B2.18B1.56B1.78B1.88B
Cash, Cash Equivalents and Short-Term Investments1.03B822.47M1.30B858.11M1.10B920.31M
Total Debt569.04M724.30M601.67M239.64M145.15M270.09M
Total Liabilities733.99M842.08M728.50M335.51M289.96M461.00M
Stockholders Equity1.71B1.40B1.45B1.23B1.41B1.42B
Cash Flow
Free Cash Flow-259.26M-712.88M-233.46M-121.87M100.62M91.96M
Operating Cash Flow125.56M-100.24M-105.23M-51.43M145.13M117.34M
Investing Cash Flow-123.21M-649.93M-290.05M-122.43M176.87M306.61M
Financing Cash Flow1.92M121.66M631.39M126.18M-170.89M-365.76M

Paragon Technologies Co., Ltd. Peers Comparison

Overall Rating

UnderperformOutperform
Sector (55)

Financial Indicators

TW:3518 against its peers
NameOverall RatingMarket CapP/E RatioROEDividend YieldRevenue GrowthEPS Growth
TW:3168TW:316863NeutralTWD 3.09B13.11―7.38%14.17%21.79%
TW:3038TW:303860NeutralTWD 2.87B15.37―6.43%-9.99%1.97%
TW:3051TW:305160NeutralTWD 3.22B9.90―2.54%0.82%73.31%
Sector *55Neutral$6.65B3.83-15.92%6.20%10.91%7.18%
TW:3580TW:358047NeutralTWD 3.49B53.58―1.40%-19.96%-63.63%
TW:3518TW:351842NeutralTWD 3.23B29.27――-21.71%―

* General Sector Average

Performance Comparison

0%50%100%TW:3518TW:3038TW:3051TW:3168TW:3580TW:6775Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
TW:3518 and its peers over the selected period
Show on chartTickerCompany NamePriceChange% Change
TW:3518Paragon Technologies Co., Ltd.32.0011.3554.96%
TW:3038Emerging Display Technologies Corp18.65-1.33-6.63%
TW:3051Optimax Technology Corporation19.650.593.10%
TW:3168Data Image Corporation40.65-0.64-1.54%
TW:3580UVAT Technology Co., Ltd.86.0029.9453.42%
TW:6775Entire Technology Co Ltd28.60-0.59-2.02%
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