Grand-Tek Technology Co., Ltd. (3684) AI Stock Analysis

Grand-Tek Technology Co., Ltd.

(TPEx:3684)

Select Model

Rating:59Neutral

Price Target:TWD 49.00▼(-4.85% Downside)

Action:initiatedcoverage

Date:11/10/26

The overall score reflects a tension between improving business fundamentals and weak market sentiment. The company's accelerating revenue growth and attractive valuation are significant strengths, but the stock is under heavy technical selling pressure. Rising balance sheet leverage and poor free cash flow trends add financial risk, preventing a higher score despite the appealing dividend yield and reasonable P/E ratio.

Positive Factors

Revenue RecoveryThe return to strong revenue growth in 2024 and 2025 indicates that the business regained demand after the 2023 contraction. If maintained, this recovery can expand operating scale, support reinvestment, and improve the company’s competitive position over the coming quarters.

Negative Factors

Rising LeverageThe sharp increase in debt-to-equity reflects a more debt-funded capital structure and reduces balance-sheet flexibility. Higher leverage could constrain investment choices or increase financial pressure if operating conditions weaken, making the recent recovery less resilient.

Grand-Tek Technology Co., Ltd. (3684) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 1.56B
Dividend Yield: 5.39%
Average Volume (3M): 76.66K
Price to Earnings (P/E): 14.5
Beta (1Y): 0.47
Revenue Growth: 4.37%
EPS Growth: -2.96%
Country: TW
Employees: 39
Sector: General
Sector Strength: 55
Industry: Hardware, Equipment & Parts

Grand-Tek Technology Co., Ltd. Business Overview & Revenue Model

Company Description

Grand-Tek Technology Co., Ltd., together with its subsidiaries, designs, manufactures, and sells high-frequency connection lines and wireless communication integration subsystems in Taiwan, the Netherlands, the United States, the United Kingdom, Chin...

Grand-Tek Technology Co., Ltd. Financial Statement Overview

Summary

Strong revenue growth and improving profitability are offset by rising leverage and volatile free cash flow. The income statement is healthy, but the balance sheet shows increasing debt and cash flow conversion remains inconsistent, creating a mixed financial profile.

Income Statement

72Positive

Balance Sheet

65Positive

Cash Flow

55Neutral

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	1.18B	1.15B	937.72M	807.62M	1.13B	920.02M
Gross Profit	389.29M	372.99M	281.72M	243.57M	356.75M	273.57M
EBITDA	173.52M	166.11M	148.76M	82.44M	196.38M	138.28M
Net Income	121.99M	104.93M	84.05M	35.01M	123.04M	85.35M
Balance Sheet
Total Assets	1.46B	1.34B	1.10B	947.97M	1.14B	1.11B
Cash, Cash Equivalents and Short-Term Investments	477.74M	506.23M	300.78M	226.49M	255.53M	293.83M
Total Debt	354.50M	315.00M	136.68M	163.52M	184.54M	224.61M
Total Liabilities	752.39M	624.60M	434.29M	342.65M	514.23M	539.97M
Stockholders Equity	707.91M	719.90M	668.27M	605.32M	626.19M	572.87M
Cash Flow
Free Cash Flow	47.48M	141.56M	163.13M	15.67M	192.92M	40.74M
Operating Cash Flow	70.44M	169.33M	176.44M	40.38M	217.22M	57.02M
Investing Cash Flow	-27.60M	-90.63M	-18.45M	5.10M	-26.54M	-20.02M
Financing Cash Flow	122.41M	130.93M	-79.92M	-81.12M	-124.98M	-40.40M

Grand-Tek Technology Co., Ltd. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:3684 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:3684	59Neutral	TWD 1.56B	14.55	―	5.39%	4.37%	-2.96%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
TW:6419	54Neutral	TWD 1.58B	4.34	―	2.25%	36.78%	583.03%
TW:6674	46Neutral	TWD 1.26B	-5.35	―	―	-40.57%	-73.29%
TW:2444	43Neutral	TWD 1.46B	-6.19	―	―	-28.59%	-77.80%
TW:8059	39Underperform	TWD 1.61B	-9.42	―	―	438.05%	69.51%

* General Sector Average

Performance Comparison

TW:3684 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:3684	Grand-Tek Technology Co., Ltd.	51.50	-0.09	-0.17%
TW:2444	AboCom Systems, Inc.	13.50	2.55	23.29%
TW:6419	Nuuo, Inc.	125.50	69.10	122.52%
TW:6674	Compal Broadband Networks, Inc.	18.45	-2.65	-12.56%
TW:7801	Asustor, Inc.	80.20	-22.87	-22.19%
TW:8059	CastleNet Technology, Inc.	13.30	-22.19	-62.53%

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 10, 2026

Grand-Tek Technology Co., Ltd. AI Stock Analysis