PAPAGO Inc. AI Stock Analysis
PAPAGO Inc. (3632) AI Stock Analysis
PAPAGO Inc.
(TPEx:3632)
PAPAGO scores low primarily on financial performance: a sharp ~29% revenue decline, continued operating and net losses, and an equity base being steadily eroded by those losses, leaving debt nearly equal to equity. Technicals reinforce the caution, with the price below all major moving averages and a negative MACD. Valuation adds no cushion given negative earnings and no dividend. The partial offsets — gross margins near 55%, materially lower leverage than in 2020, and a swing to positive operating and free cash flow — keep the score from falling further, but a stabilization in revenue and a return to sustained profitability are needed before the outlook improves.
PAPAGO Inc. (3632) vs. SPDR S&P 500 ETF (SPY)
- Market Cap
- TWD 136.71M
- Dividend Yield
- ―
- Average Volume (3M)
- 15.71K
- Price to Earnings (P/E)
- -14.5
- Beta (1Y)
- 0.18
- Revenue Growth
- -8.69%
- EPS Growth
- 52.53%
- Country
- TW
- Employees
- 176
- Sector
- General
- Sector Strength
- 55
- Industry
- Software - Application
PAPAGO Inc. Business Overview & Revenue Model
Company Description
Papago Inc., headquartered in Taipei, Taiwan, is a company with a global presence that specializes in creating and distributing both software and hardware for satellite navigation systems. Its comprehensive product offerings include advanced facial r...
PAPAGO Inc. Financial Statement Overview
Summary
Fundamentals are weak overall. Revenue fell roughly 29% to NT$264.9 million and has contracted in four of the last six years, with the company posting an operating loss of NT$12.5 million and a net loss of NT$15.6 million. The balance sheet is adequate but eroding — debt-to-equity has crept back to 0.97 as accumulated losses shrink equity (NT$119.9 million), and ROE is negative at about -13%. The clearest positive is cash flow: operating cash flow jumped to NT$18.3 million and free cash flow turned positive at NT$10.7 million, supported by a gross margin rebuilt to roughly 55%. Management has fixed costs and cash burn, but the demand problem remains unsolved.
Income Statement
31NegativeBalance Sheet
45NeutralCash Flow
54Neutral| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 283.23M | 264.91M | 371.64M | 393.41M | 379.05M | 351.46M |
| Gross Profit | 158.36M | 146.34M | 214.79M | 230.21M | 186.13M | 94.18M |
| EBITDA | 12.16M | 7.39M | 10.33M | 27.83M | 17.03M | 18.17M |
| Net Income | -8.19M | -15.59M | -11.98M | 4.43M | 2.88M | -28.91M |
Balance Sheet | ||||||
| Total Assets | 343.24M | 324.74M | 328.82M | 377.59M | 386.40M | 422.20M |
| Cash, Cash Equivalents and Short-Term Investments | 8.04M | 28.07M | 19.29M | 69.65M | 75.15M | 72.89M |
| Total Debt | 150.11M | 116.55M | 105.60M | 123.29M | 136.35M | 144.39M |
| Total Liabilities | 215.85M | 190.40M | 179.61M | 204.56M | 217.99M | 248.15M |
| Stockholders Equity | 115.78M | 119.94M | 135.48M | 148.00M | 146.03M | 142.35M |
Cash Flow | ||||||
| Free Cash Flow | -16.47M | 10.68M | -5.74M | 24.41M | -12.01M | -36.95M |
| Operating Cash Flow | -10.18M | 18.34M | 1.86M | 28.28M | -5.50M | -29.89M |
| Investing Cash Flow | -11.91M | -7.94M | -39.13M | 45.00K | 769.00K | 280.74M |
| Financing Cash Flow | 6.56M | -5.48M | -13.77M | -33.87M | 6.97M | -267.22M |
PAPAGO Inc. Peers Comparison
Overall Rating
TW:610344Neutral
TW:651243Neutral- TW:363241Neutral
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| Sector * | 55Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
| TW:6103 | 44Neutral | TWD 417.67M | -13478.26 | ― | 0.61% | -4.14% | -100.17% |
| TW:6512 | 43Neutral | TWD 503.94M | -10.00 | ― | ― | -51.46% | -136.41% |
| TW:3632 | 41Neutral | TWD 264.00M | -14.50 | ― | ― | -8.69% | 52.53% |
* General Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| TW:3632 | PAPAGO Inc. | 10.95 | -6.89 | -38.63% | |
| TW:5248 | Pixon Technologies Corporation | 19.10 | -3.95 | -17.14% | |
| TW:6103 | Avid Electronics Corp. | 31.95 | -6.70 | -17.34% | |
| TW:6512 | GoMax Electronics, Inc. | 19.90 | -1.25 | -5.91% | |
| TW:6565 | ThroughTek Co., Ltd. | 14.50 | -6.15 | -29.78% | |
| TW:7558 | Bryton, Inc. | 17.50 | 7.70 | 78.53% |
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