Viking Tech Corporation (3624) AI Stock Analysis

Viking Tech Corporation

(TPEx:3624)

Select Model

Rating:58.3Neutral

Price Target:TWD 101.00▼(-14.77% Downside)

Action:initiatedcoverage

Date:11/10/26

The score is supported by a strong, conservatively financed balance sheet, but declining profitability and cash-flow momentum are significant concerns. Weak technical momentum and a relatively high P/E ratio further limit the overall score.

Positive Factors

Very Low LeverageThe exceptionally low debt burden gives Viking Tech substantial flexibility through industry cycles. A conservative capital structure reduces balance-sheet stress, limits financing costs, and preserves capacity to fund operations, investment, or growth without relying heavily on external capital.

Negative Factors

Margin CompressionThe sustained decline in gross and net margins indicates that profitability has weakened materially from its 2022 peak. Lower margin protection can reduce earnings resilience, limit reinvestment capacity, and make future results more sensitive to pricing, mix, and operating-cost pressures.

Viking Tech Corporation (3624) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 13.38B
Dividend Yield: 0.93%
Average Volume (3M): 17.18M
Price to Earnings (P/E): 26.6
Beta (1Y): 1.83
Revenue Growth: 29.67%
EPS Growth: 175.64%
Country: TW
Employees: 337
Sector: General
Sector Strength: 55
Industry: Hardware, Equipment & Parts

Viking Tech Corporation Business Overview & Revenue Model

Company Description

Viking Tech Corporation designs, manufactures, and markets electronic components in Taiwan and internationally. The company offers resistors, inductors, capacitors, supercapacitors, and NTC thermistors. Its products are used in medical, automotive, i...

Viking Tech Corporation Financial Statement Overview

Summary

Strong balance-sheet quality and low leverage support the score, but declining margins, lower return on equity, and weaker free-cash-flow growth weigh on profitability and cash-generation trends.

Income Statement

63Positive

Balance Sheet

88Very Positive

Cash Flow

62Positive

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	2.97B	2.68B	2.58B	2.55B	3.16B	3.11B
Gross Profit	808.41M	676.63M	667.95M	707.94M	1.08B	1.01B
EBITDA	579.45M	479.57M	522.83M	567.20M	957.54M	805.05M
Net Income	376.07M	218.18M	242.12M	261.81M	585.45M	474.52M
Balance Sheet
Total Assets	4.55B	4.10B	3.95B	3.85B	4.08B	3.99B
Cash, Cash Equivalents and Short-Term Investments	1.40B	1.39B	1.37B	1.12B	1.24B	907.60M
Total Debt	50.73M	59.30M	71.78M	97.37M	112.30M	240.84M
Total Liabilities	949.58M	606.74M	543.17M	559.66M	742.52M	983.50M
Stockholders Equity	3.57B	3.47B	3.39B	3.27B	3.32B	2.99B
Cash Flow
Free Cash Flow	380.34M	204.61M	153.32M	329.19M	330.08M	409.22M
Operating Cash Flow	616.66M	367.22M	328.29M	537.13M	603.74M	644.10M
Investing Cash Flow	-410.90M	-269.59M	-274.20M	-235.06M	-163.16M	-343.10M
Financing Cash Flow	-175.33M	-174.26M	-169.59M	-337.24M	-385.46M	-38.53M

Viking Tech Corporation Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:3624 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:6279	64Neutral	TWD 11.90B	8.76	―	5.62%	12.67%	15.02%
TW:2478	62Neutral	TWD 14.55B	21.19	―	1.94%	17.88%	78.74%
TW:3624	58Neutral	TWD 12.67B	26.58	―	0.93%	29.67%	175.64%
TW:3135	56Neutral	TWD 11.92B	4.77	―	2.64%	―	―
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
TW:2104	39Underperform	TWD 9.80B	-2.04	―	―	-13.19%	45.83%
TW:2231	34Underperform	TWD 10.66B	-88.27	―	0.63%	-20.55%	-146.86%

* General Sector Average

Performance Comparison

TW:3624 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:3624	Viking Tech Corporation	118.50	72.19	155.86%
TW:2104	International CSRC Investment Holdings Co. Ltd.	10.35	0.30	2.99%
TW:2231	CUB Elecparts, Inc.	79.00	-22.00	-21.78%
TW:2478	Ta-I Technology Co. Ltd.	103.00	36.15	54.07%
TW:3135	Goldkey Technology Corp	123.50	76.76	164.24%
TW:6279	Hu Lane Associate, Inc.	97.90	-26.47	-21.28%

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

Viking Tech Corporation AI Stock Analysis