MiTAC Holdings Corp. (3706) AI Stock Analysis

MiTAC Holdings Corp.

(TWSE:3706)

Select Model

Rating:61Neutral

Price Target:TWD 72.00▲(3.75% Upside)

Action:initiatedcoverage

Date:11/10/26

The score is primarily constrained by deteriorating cash flow and weak technical momentum. A strong balance sheet, continued profitability, and attractive valuation provide meaningful support, but they do not fully offset the financial-quality and trend risks.

Positive Factors

Improving Revenue GrowthAccelerating revenue growth indicates improving demand across MiTAC’s enterprise, industrial, and infrastructure activities. If sustained, stronger sales can support operating leverage, broaden customer adoption, and provide a durable foundation for earnings and cash generation over the coming quarters.

Negative Factors

Weak Recent Cash GenerationThe sharp deterioration in operating and free cash flow means recent accounting profits are not translating reliably into cash. Persistent weakness would constrain self-funded investment, reduce financial flexibility, and make the company more dependent on working-capital improvement or external financing.

MiTAC Holdings Corp. (3706) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 96.79B
Dividend Yield: 4.32%
Average Volume (3M): 8.56M
Price to Earnings (P/E): 13.1
Beta (1Y): 0.92
Revenue Growth: 50.91%
EPS Growth: 23.24%
Country: TW
Employees: 6,650
Sector: General
Sector Strength: 55
Industry: Computer Hardware

MiTAC Holdings Corp. Business Overview & Revenue Model

Company Description

MiTAC Holdings Corporation, established in 1982 and headquartered in Taoyuan City, Taiwan, is a global enterprise that conceives, engineers, produces, and supplies a comprehensive range of computer hardware, auxiliary equipment, and communication pro...

MiTAC Holdings Corp. Financial Statement Overview

Summary

Strong balance sheet and positive revenue and net-income growth are offset by sharply weaker operating cash flow, negative free cash flow, lower margins, and increased debt.

Income Statement

72Positive

Balance Sheet

86Very Positive

Cash Flow

25Negative

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	128.11B	105.58B	61.36B	35.54B	47.83B	42.19B
Gross Profit	12.98B	11.98B	7.37B	4.49B	3.84B	4.36B
EBITDA	8.21B	6.69B	4.27B	3.26B	12.61B	16.62B
Net Income	7.43B	6.84B	3.96B	1.78B	9.29B	11.96B
Balance Sheet
Total Assets	180.02B	130.92B	114.96B	88.75B	85.58B	76.35B
Cash, Cash Equivalents and Short-Term Investments	22.29B	21.64B	10.97B	11.10B	9.33B	9.16B
Total Debt	37.38B	12.48B	3.01B	1.83B	4.23B	4.05B
Total Liabilities	102.16B	61.27B	54.48B	27.32B	24.89B	23.74B
Stockholders Equity	76.27B	68.46B	60.07B	61.32B	60.64B	52.56B
Cash Flow
Free Cash Flow	-22.29B	-1.62B	682.22M	4.14B	746.89M	-1.24B
Operating Cash Flow	-17.42B	418.74M	1.48B	4.71B	1.75B	-144.68M
Investing Cash Flow	6.99B	4.91B	-1.02B	-278.53M	1.36B	574.07M
Financing Cash Flow	22.68B	5.49B	-703.91M	-3.82B	-2.12B	496.63M

MiTAC Holdings Corp. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:3706 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:3005	77Outperform	TWD 66.83B	12.88	―	6.20%	11.11%	3.90%
TW:6414	61Neutral	TWD 52.49B	13.45	―	4.22%	8.27%	19.95%
TW:3706	61Neutral	TWD 102.99B	13.07	―	4.32%	50.91%	23.24%
TW:6285	59Neutral	TWD 92.58B	16.16	―	2.21%	29.79%	88.44%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
TW:2377	50Neutral	TWD 118.28B	12.57	―	2.90%	1.41%	111.21%
TW:2352	44Neutral	TWD 47.26B	29.19	―	11.06%	1.60%	19.60%

* General Sector Average

Performance Comparison

TW:3706 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:3706	MiTAC Holdings Corp.	69.40	-12.28	-15.03%
TW:2352	Qisda Corporation	28.90	2.26	8.47%
TW:2377	Micro-Star International Co., Ltd.	145.00	42.53	41.50%
TW:3005	Getac Holdings Corporation	109.50	-14.50	-11.69%
TW:6285	WNC Corporation	194.50	94.68	94.86%
TW:6414	Ennoconn Corp.	326.50	54.69	20.12%

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

MiTAC Holdings Corp. AI Stock Analysis