Hep Tech Co., Ltd. AI Stock Analysis
Hep Tech Co., Ltd. (3609) AI Stock Analysis
Hep Tech Co., Ltd.
(TPEx:3609)
The score is held back primarily by fundamentals: although revenue jumped 41% and leverage was cut from 2.02x to 0.51x, the company remains operationally loss-making with a halved gross margin and has burned cash from operations for five straight years, with FY2025's reported profit unsupported by any cash inflow. Offsetting this, technicals are constructive — the stock trades above all key moving averages with positive MACD, though momentum indicators are now in stretched territory. Valuation looks optically low at 4.5x earnings, but that multiple reflects one-off gains rather than core profitability, and there is no dividend. Evidence of improving gross margins and positive operating cash flow would be needed to justify a materially higher score.
Hep Tech Co., Ltd. (3609) vs. SPDR S&P 500 ETF (SPY)
- Market Cap
- TWD 1.11B
- Dividend Yield
- ―
- Average Volume (3M)
- 225.50K
- Price to Earnings (P/E)
- 4.5
- Beta (1Y)
- 0.11
- Revenue Growth
- 28.13%
- EPS Growth
- ―
- Country
- TW
- Employees
- 110
- Sector
- General
- Sector Strength
- 55
- Industry
- Hardware, Equipment & Parts
Hep Tech Co., Ltd. Business Overview & Revenue Model
Company Description
HEP Tech Co., Ltd. is a global enterprise that specializes in the production and distribution of electronic lighting control systems for both industrial and commercial applications. The company's comprehensive product line features a wide range of LE...
Hep Tech Co., Ltd. Financial Statement Overview
Summary
Weak overall despite a headline turnaround. Revenue rebounded 41.3% to NT$665m and the company reported a NT$247m net profit, but the core business still lost money at the operating line (-21.2% operating margin) and gross margin halved to 11.1% from 23.2%, indicating the profit came from non-operating items (Income Statement 38). The balance sheet is the bright spot: debt was more than halved to NT$264m, equity nearly doubled to NT$522m, and leverage fell to 0.51x from 2.02x (Balance Sheet 55). Cash flow is the critical weakness: operating cash flow was -NT$138m and free cash flow -NT$163m, a fifth consecutive year of cash burn, with no cash backing the reported profit (Cash Flow 15).
Income Statement
38NegativeBalance Sheet
55NeutralCash Flow
15Very Negative| Breakdown | TTM | Dec 2025 | Mar 2025 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 600.87M | 665.20M | 389.63M | 625.52M | 802.25M | 812.24M |
| Gross Profit | 73.50M | 73.74M | 90.34M | 67.72M | 153.46M | 194.28M |
| EBITDA | 295.73M | -98.78M | -96.42M | -135.08M | -35.77M | 33.23M |
| Net Income | 248.89M | 246.52M | -166.18M | -202.25M | -90.04M | 157.00K |
Balance Sheet | ||||||
| Total Assets | 1.02B | 1.03B | 1.07B | 1.16B | 1.23B | 948.40M |
| Cash, Cash Equivalents and Short-Term Investments | 190.48M | 209.91M | 212.83M | 242.50M | 323.58M | 288.01M |
| Total Debt | 255.32M | 264.24M | 569.27M | 576.22M | 491.71M | 271.87M |
| Total Liabilities | 571.85M | 510.48M | 784.15M | 800.70M | 675.28M | 504.11M |
| Stockholders Equity | 446.84M | 522.18M | 281.27M | 355.10M | 555.45M | 444.29M |
Cash Flow | ||||||
| Free Cash Flow | -208.61M | -163.32M | -115.01M | -127.21M | -282.24M | -102.84M |
| Operating Cash Flow | -172.40M | -137.75M | -99.73M | -86.30M | -239.17M | -58.96M |
| Investing Cash Flow | 520.90M | 467.60M | -29.55M | -33.80M | -98.45M | -75.89M |
| Financing Cash Flow | -337.43M | -369.68M | 100.11M | 63.99M | 355.18M | 192.68M |
Hep Tech Co., Ltd. Peers Comparison
Overall Rating
TW:685663Neutral- TW:360951Neutral
TW:353148Neutral
TW:806840Underperform
TW:691636Underperform
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| TW:6856 | 63Neutral | TWD 1.15B | 13.18 | ― | 7.33% | 0.20% | 32.59% |
| Sector * | 55Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
| TW:3609 | 51Neutral | TWD 1.13B | 4.54 | ― | ― | 28.13% | ― |
| TW:3531 | 48Neutral | TWD 1.26B | 32.62 | ― | 2.43% | -24.73% | 39.31% |
| TW:8068 | 40Underperform | TWD 1.26B | -81.23 | ― | ― | 46.43% | -113.09% |
| TW:6916 | 36Underperform | TWD 1.23B | -21.51 | ― | 1.53% | 19.42% | 68.90% |
* General Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| TW:3609 | Hep Tech Co., Ltd. | 29.40 | -18.50 | -38.62% | |
| TW:3531 | Shian Yih Electronic Industry Co., Ltd | 20.55 | -1.28 | -5.85% | |
| TW:3678 | Ushine Photonics Corporation | 44.45 | 8.00 | 21.96% | |
| TW:6856 | Shine Trend International Multimedia Technology Co Ltd | 40.90 | -11.41 | -21.82% | |
| TW:6916 | Winstar Display Co Ltd | 18.50 | 0.90 | 5.11% | |
| TW:8068 | Chander Electronics Corp. | 17.20 | -2.70 | -13.57% |
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