Macnica Anstek Inc. AI Stock Analysis
Macnica Anstek Inc. (3528) AI Stock Analysis
Macnica Anstek Inc.
(TWSE:3528)
The score is held back primarily by a strained financial profile: despite a 69% revenue jump, net income fell, margins compressed to a 1.7% net level, debt to equity rose to 1.86x on flat equity, and operating and free cash flow turned deeply negative as working capital consumed cash. Technicals reinforce the caution, with the price far below all key moving averages and negative MACD confirming a sustained downtrend. A low 7.7x P/E and a 2.0% dividend yield provide some valuation support, but they do not offset the profitability, leverage and cash-conversion risks. Earnings call and corporate event data were unavailable and were excluded, with their weight redistributed to the remaining components.
Macnica Anstek Inc. (3528) vs. SPDR S&P 500 ETF (SPY)
- Market Cap
- TWD 4.50B
- Dividend Yield
- 1.89%
- Average Volume (3M)
- 217.90K
- Price to Earnings (P/E)
- 7.7
- Beta (1Y)
- 1.10
- Revenue Growth
- 89.77%
- EPS Growth
- 2019.96%
- Country
- TW
- Employees
- 179
- Sector
- General
- Sector Strength
- 55
- Industry
- Technology Distributors
Macnica Anstek Inc. Business Overview & Revenue Model
Company Description
Macnica Anstek Inc. is a technology-oriented distributor of semiconductor ICs and embedded solutions in Taiwan. The company has evolved from a traditional distributor into a solutions partner with system integration expertise, focusing on AI, industr...
Macnica Anstek Inc. Financial Statement Overview
Summary
Revenue surged roughly 69% to NT$8.96 billion in 2025 and EBIT nearly doubled to NT$613 million, but the quality of that growth is poor. Gross margin fell to 11.1% from 13.0% and net margin collapsed to 1.7%, with net income declining to NT$153 million from NT$277 million. The balance sheet has levered up sharply — debt to equity of 1.86x on a flat equity base, with equity funding only about 21% of assets — while ROE dropped to 7.9%. Cash flow is the weakest element: operating cash flow swung to negative NT$1.53 billion and free cash flow to negative NT$1.54 billion as working capital absorbed the sales ramp, leaving the company reliant on external funding.
Income Statement
48NeutralBalance Sheet
38NegativeCash Flow
25Negative| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 12.04B | 8.96B | 5.29B | 6.30B | 6.41B | 6.28B |
| Gross Profit | 1.44B | 998.82M | 686.56M | 695.57M | 1.01B | 759.29M |
| EBITDA | 1.28B | 637.69M | 427.22M | 314.03M | 535.02M | 414.77M |
| Net Income | 605.91M | 152.97M | 277.45M | 109.83M | 373.99M | 300.07M |
Balance Sheet | ||||||
| Total Assets | 14.65B | 9.17B | 6.74B | 6.37B | 6.74B | 5.02B |
| Cash, Cash Equivalents and Short-Term Investments | 948.83M | 801.46M | 1.89B | 622.42M | 553.65M | 591.58M |
| Total Debt | 5.68B | 3.59B | 2.98B | 2.04B | 2.11B | 1.32B |
| Total Liabilities | 12.38B | 7.24B | 4.77B | 4.56B | 4.78B | 3.17B |
| Stockholders Equity | 2.28B | 1.93B | 1.97B | 1.81B | 1.96B | 1.85B |
Cash Flow | ||||||
| Free Cash Flow | -2.96B | -1.54B | 368.77M | 396.33M | -775.77M | -520.14M |
| Operating Cash Flow | -2.95B | -1.53B | 376.44M | 418.71M | -754.52M | -510.53M |
| Investing Cash Flow | 8.09M | 45.62M | 61.39M | -16.08M | 192.63M | 27.61M |
| Financing Cash Flow | 3.60B | 392.25M | 829.51M | -333.85M | 523.96M | 640.39M |
Macnica Anstek Inc. Peers Comparison
Overall Rating
TW:309361Neutral
TW:692258Neutral
TW:495253Neutral
TW:622445Neutral- TW:352845Neutral
TW:313842Neutral
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| TW:3093 | 61Neutral | TWD 5.50B | 39.23 | ― | 3.03% | -27.55% | -23.76% |
| TW:6922 | 58Neutral | TWD 4.81B | 19.29 | ― | 2.73% | 34.63% | 57.37% |
| Sector * | 55Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
| TW:4952 | 53Neutral | TWD 4.54B | 17.38 | ― | 2.40% | 20.23% | 125.35% |
| TW:6224 | 45Neutral | TWD 5.15B | 51.33 | ― | 2.08% | -8.16% | -47.96% |
| TW:3528 | 45Neutral | TWD 4.86B | 7.75 | ― | 1.89% | 89.77% | 2019.96% |
| TW:3138 | 42Neutral | TWD 4.48B | 73.09 | ― | 1.94% | 5.96% | -5.95% |
* General Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| TW:3528 | Macnica Anstek Inc. | 73.00 | 3.27 | 4.70% | |
| TW:3093 | Taiwan Kong King Co. Ltd. | 37.90 | 14.07 | 59.06% | |
| TW:3138 | Auden Techno Corp. | 79.70 | -8.63 | -9.77% | |
| TW:4952 | Generalplus Technology Inc. | 41.70 | 4.60 | 12.40% | |
| TW:6224 | Polytronics Technology Corp. | 60.10 | 15.73 | 35.46% | |
| TW:6922 | Neousys Technology, Inc. | 177.00 | -5.63 | -3.08% |
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