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Arcadyan Technology Corporation (3596) AI Stock Analysis

TW:3596

Arcadyan Technology Corporation

(TWSE:3596)

Select Model
Rating:66Neutral
Price Target:TWD 147.00â–²(7.30% Upside)
Action:initiatedcoverage
Date:11/09/26

Arcadyan earns an above-average score driven by sound fundamentals — consistent growth, record profits, a near debt-free balance sheet and mid-teens ROE — paired with a compelling valuation at 10.5x earnings and a 6.6% dividend yield. The score is held back by a clearly negative technical picture, with the price well below all key moving averages and negative MACD momentum, and by business-model risks: thin single-digit net margins and swing-prone cash flow tied to inventory and receivables. Investors are being offered a cheap, income-rich, financially solid business, but should wait for signs of trend stabilisation and watch margin and working-capital direction.

Positive Factors
Revenue GrowthRevenue expansion from ~33.8B in 2020 to ~53.0B in 2025 indicates a substantially larger operating base and continuing demand for the company’s connectivity products. The 2025 re-acceleration also supports near-term business momentum, while cumulative growth can improve scale and customer relevance.
Negative Factors
Free Cash Flow VolatilityFree cash flow fell about 53.7% in 2025 versus 2024, despite remaining positive and covering roughly 81% of net income. Such a sharp change can reduce funds available for dividends, investment, or debt-free growth, making reported earnings less consistently convertible into cash.

Arcadyan Technology Corporation (3596) vs. SPDR S&P 500 ETF (SPY)

-30%-20%-10%0%10%20%TW:3596-23.64%SPY+10.92%Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
Market Cap
TWD 30.63B
Dividend Yield
6.57%
Average Volume (3M)
1.12M
Price to Earnings (P/E)
10.5
Beta (1Y)
0.53
Revenue Growth
4.32%
EPS Growth
5.74%
Country
TW
Employees
933
Sector
General
Sector Strength
55
Industry
Communication Equipment

Arcadyan Technology Corporation Business Overview & Revenue Model

Company Description

Arcadyan Technology Corporation, together with its various affiliated companies, specializes in the research, development, manufacturing, and global distribution of a diverse array of technological products. These offerings span wireless networking d...

Arcadyan Technology Corporation Financial Statement Overview

Summary

Arcadyan combines steady multi-year revenue growth (NT$33.8bn in 2020 to ~NT$53.0bn), record profits (net income up to NT$2.77bn), and a virtually debt-free balance sheet (debt/equity ~0.01) with a healthy ~16% return on equity. Offsetting this are structurally thin margins typical of contract-style manufacturing (gross ~15%, net ~5%) and volatile cash flow — free cash flow fell ~54% to NT$3.01bn on working-capital swings, though conversion remains a solid ~81% of net income. The balance sheet (82) is the standout strength, the income statement (70) is dependable but margin-constrained, and cash flow (64) is the weakest link due to its lumpiness.

Income Statement

70Positive

Balance Sheet

82Very Positive

Cash Flow

64Positive
Financial statement breakdown
BreakdownTTMDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue53.48B52.98B48.97B51.16B47.17B38.24B
Gross Profit7.99B8.09B7.42B7.39B6.59B5.31B
EBITDA4.23B4.26B4.19B4.18B3.33B2.87B
Net Income2.87B2.77B2.49B2.42B2.01B1.79B
Balance Sheet
Total Assets54.21B44.81B39.31B38.55B40.02B33.90B
Cash, Cash Equivalents and Short-Term Investments9.95B13.63B13.26B7.90B7.58B7.99B
Total Debt2.10B202.67M1.22B2.00B4.58B4.97B
Total Liabilities37.67B27.78B23.28B23.65B26.08B20.98B
Stockholders Equity16.46B16.94B15.93B14.80B13.81B12.66B
Cash Flow
Free Cash Flow-2.90B3.01B7.73B4.32B993.32M-3.33B
Operating Cash Flow-2.22B3.73B8.76B5.59B2.53B-1.52B
Investing Cash Flow1.23B-4.58B-6.14B-1.27B-1.42B-1.79B
Financing Cash Flow-646.59M-2.67B-2.27B-4.05B-1.58B2.24B

Arcadyan Technology Corporation Peers Comparison

Overall Rating

UnderperformOutperform
Sector (55)

Financial Indicators

TW:3596 against its peers
NameOverall RatingMarket CapP/E RatioROEDividend YieldRevenue GrowthEPS Growth
TW:6197TW:619768NeutralTWD 29.56B19.11―2.89%21.34%60.27%
TW:3596TW:359666NeutralTWD 29.87B10.47―6.57%4.32%5.74%
TW:4915TW:491564NeutralTWD 23.90B10.12―8.94%13.42%-25.09%
TW:3605TW:360564NeutralTWD 22.61B31.74―1.22%13.61%-8.06%
TW:6191TW:619163NeutralTWD 41.64B14.41―3.11%38.15%-5.47%
TW:2328TW:232861NeutralTWD 24.34B1.21―1.92%-13.85%-78.67%
Sector *55Neutral$6.65B3.83-15.92%6.20%10.91%7.18%

* General Sector Average

Performance Comparison

0%50%100%150%TW:3596TW:2328TW:3605TW:4915TW:6191TW:6197Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
TW:3596 and its peers over the selected period
Show on chartTickerCompany NamePriceChange% Change
TW:3596Arcadyan Technology Corporation137.00-41.47-23.24%
TW:2328Pan-International Industrial Corp.46.95-3.70-7.30%
TW:3605ACES Electronics Co., Ltd.129.0061.8892.18%
TW:4915Primax Electronics Ltd.51.10-32.27-38.71%
TW:6191Global Brands Manufacture Limited83.70-32.37-27.89%
TW:6197Jess-Link Products Co., Ltd.239.5097.3868.53%
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