Swancor Holding Co., Ltd. (3708) AI Stock Analysis

Swancor Holding Co., Ltd.

(TWSE:3708)

Select Model

Rating:43Neutral

Price Target:TWD 84.00▼(-7.69% Downside)

Action:initiatedcoverage

Date:11/10/26

The overall score is heavily pressured by a dramatic operational collapse, with revenue plunging 84% and the core business burning cash. The stock's bearish technical trend and deeply oversold momentum reinforce the negative outlook. While the balance sheet is exceptionally strong with minimal debt, this is a defensive buffer, not a growth driver. The superficially cheap P/E and high dividend yield are misleading due to unsustainable, one-time earnings, offering little positive offset.

Positive Factors

Specialty Materials PositionSwancor operates in specialty chemicals and serves applications requiring formulated, high-performance, corrosion-resistant, and lightweight composites. This technical focus can support customer qualification, product differentiation, and durable demand across industrial and renewable-energy end markets.

Negative Factors

Severe Revenue and Operating CollapseThe sharp revenue contraction and deeply negative operating margins indicate substantial deterioration in demand, utilization, or commercial execution. Sustained weakness would reduce scale benefits, impair earnings power, and make a return to the prior profitability profile materially more difficult.

Swancor Holding Co., Ltd. (3708) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 8.02B
Dividend Yield: 7.14%
Average Volume (3M): 449.42K
Price to Earnings (P/E): 2.7
Beta (1Y): 0.68
Revenue Growth: -79.42%
EPS Growth: 2756.52%
Country: TW
Employees: 10,795
Sector: General
Sector Strength: 55
Industry: Chemicals - Specialty

Swancor Holding Co., Ltd. Business Overview & Revenue Model

Company Description

Swancor Holding Co., LTD. engages in the manufacture and trading of chemical materials in Taiwan and internationally. It offers vinyl ester for anti-corrosion tank, pipes for factories, desulfurization tanks, and chimneys for power plants; and epoxy...

Swancor Holding Co., Ltd. Financial Statement Overview

Summary

Financial performance is severely weakened by an 84% revenue collapse and deep operating losses, despite a fortress-like balance sheet with a 0.05 debt-to-equity ratio. The reported net income is entirely distorted by a one-time gain, while core operations are burning cash, making the overall financial health unsustainable.

Income Statement

35Negative

Balance Sheet

78Positive

Cash Flow

15Very Negative

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	1.28B	1.01B	7.87B	7.29B	9.77B	10.71B
Gross Profit	223.16M	152.94M	1.77B	1.33B	1.53B	1.34B
EBITDA	-217.84M	-280.87M	907.38M	1.76B	1.49B	415.17M
Net Income	3.67B	4.38B	284.09M	1.26B	903.15M	185.93M
Balance Sheet
Total Assets	30.23B	18.60B	14.77B	14.27B	14.27B	14.58B
Cash, Cash Equivalents and Short-Term Investments	2.52B	6.83B	3.64B	4.64B	2.69B	2.70B
Total Debt	1.10B	772.90M	2.04B	2.62B	3.83B	4.60B
Total Liabilities	3.36B	3.42B	5.30B	5.61B	6.33B	8.02B
Stockholders Equity	26.77B	15.25B	8.31B	7.36B	6.66B	5.43B
Cash Flow
Free Cash Flow	-346.97M	-607.22M	-361.35M	1.94B	-161.48M	-609.87M
Operating Cash Flow	-225.06M	-220.04M	166.55M	2.44B	536.05M	445.54M
Investing Cash Flow	1.02B	5.14B	-651.98M	-431.44M	467.32M	-2.54B
Financing Cash Flow	-3.48B	-1.42B	-546.59M	-1.44B	-1.04B	2.99B

Swancor Holding Co., Ltd. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:3708 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:3645	59Neutral	TWD 7.45B	24.93	―	2.22%	-4.08%	94.00%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
TW:8942	52Neutral	TWD 7.73B	7.94	―	2.56%	-40.13%	47.76%
TW:3708	43Neutral	TWD 8.04B	2.67	―	7.14%	-79.42%	2756.52%
TW:4989	41Neutral	TWD 10.11B	-113.40	―	―	63.30%	87.48%
TW:1308	40Underperform	TWD 7.78B	-12.63	―	1.56%	-2.26%	36.82%

* General Sector Average

Performance Comparison

TW:3708 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:3708	Swancor Holding Co., Ltd.	91.00	-18.45	-16.85%
TW:1308	Asia Polymer Corporation	12.85	0.13	1.00%
TW:3645	Taimide Tech, Inc.	54.10	0.33	0.60%
TW:4989	LCY Technology Corp.	60.10	15.55	34.89%
TW:7763	Johnson Fine Chemical Co Ltd	142.00	66.27	87.52%
TW:8942	Xxentria Technology Materials Co.,Ltd	39.00	2.90	8.05%

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

Swancor Holding Co., Ltd. AI Stock Analysis