TTY Biopharm Company Limited (4105) AI Stock Analysis

TTY Biopharm Company Limited

(TPEx:4105)

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Rating:74Outperform

Price Target:TWD 89.00▲(8.40% Upside)

Action:initiatedcoverage

Date:11/10/26

The score is supported primarily by a strong balance sheet, profitability, cash generation, and attractive valuation. Technical momentum is mixed, while sharply negative reported revenue growth and declining free cash flow growth limit the overall rating.

Positive Factors

Strong and durable marginsConsistently high gross, operating, and net margins indicate that TTY Biopharm has maintained meaningful profitability across its prescription pharmaceutical activities. This supports internal reinvestment, provides resilience against operating pressure, and suggests a potentially durable earnings base over the next several quarters.

Negative Factors

Severe 2025 revenue declineThe sharp 2025 revenue contraction is a material challenge to earnings durability, even though margins remained strong. If the decline reflects product-cycle timing, demand instability, or one-off revenue effects, future growth and the utilization of the company’s commercial platform may remain difficult to forecast.

TTY Biopharm Company Limited (4105) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 20.79B
Dividend Yield: 5.48%
Average Volume (3M): 612.78K
Price to Earnings (P/E): 12.5
Beta (1Y): 0.15
Revenue Growth: 4.54%
EPS Growth: -7.38%
Country: TW
Employees: 561
Sector: General
Sector Strength: 55
Industry: Drug Manufacturers - Specialty & Generic

TTY Biopharm Company Limited Business Overview & Revenue Model

Company Description

TTY Biopharm Company Limited, along with its associated entities, specializes in the creation and distribution of pharmaceutical and chemical products across Taiwan and global markets. Its operations are structured into several key divisions: Oncolog...

TTY Biopharm Company Limited Financial Statement Overview

Summary

Strong profitability, balance-sheet quality, improving leverage, healthy return on equity, and solid cash generation support the score. The sharply negative reported 2025 revenue growth and declining free cash flow growth are key risks.

Income Statement

68Positive

Balance Sheet

86Very Positive

Cash Flow

76Positive

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	6.65B	6.45B	5.89B	5.51B	5.06B	4.54B
Gross Profit	3.82B	3.72B	3.41B	3.22B	3.02B	2.77B
EBITDA	2.23B	1.90B	1.73B	1.66B	1.50B	1.14B
Net Income	1.75B	1.56B	1.45B	1.13B	1.09B	831.89M
Balance Sheet
Total Assets	11.83B	11.35B	10.86B	9.87B	9.60B	9.30B
Cash, Cash Equivalents and Short-Term Investments	2.94B	2.99B	3.08B	2.82B	2.68B	2.59B
Total Debt	2.11B	1.23B	1.76B	1.92B	1.87B	2.20B
Total Liabilities	4.08B	3.30B	3.35B	3.37B	3.37B	3.53B
Stockholders Equity	6.96B	7.24B	6.75B	5.94B	5.66B	5.17B
Cash Flow
Free Cash Flow	1.81B	1.61B	1.22B	985.73M	1.10B	1.18B
Operating Cash Flow	1.96B	1.76B	1.35B	1.09B	1.24B	1.26B
Investing Cash Flow	-375.17M	-367.36M	-243.56M	-2.63M	-133.14M	-168.78M
Financing Cash Flow	-1.35B	-1.59B	-1.05B	-816.33M	-1.10B	-850.05M

TTY Biopharm Company Limited Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:4105 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:4105	74Outperform	TWD 20.44B	12.48	―	5.48%	4.54%	-7.38%
TW:6620	70Outperform	TWD 20.83B	66.76	―	1.52%	―	―
TW:3705	69Neutral	TWD 15.80B	17.22	―	5.16%	-5.14%	-1.29%
TW:1789	57Neutral	TWD 16.01B	904.98	―	1.45%	-4.75%	-90.91%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
TW:4123	48Neutral	TWD 22.38B	23.82	―	6.15%	3.63%	―
TW:4743	42Neutral	TWD 22.59B	-102.60	―	―	14.79%	84.54%

* General Sector Average

Performance Comparison

TW:4105 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:4105	TTY Biopharm Company Limited	82.10	7.54	10.12%
TW:1789	Scinopharm Taiwan, Ltd.	20.00	2.60	14.92%
TW:3705	YungShin Global Holding Corp.	58.10	5.90	11.30%
TW:4123	Center Laboratories, Inc.	28.40	-5.05	-15.09%
TW:4743	Oneness Biotech Co., Ltd.	46.25	-16.55	-26.35%
TW:6620	Handa Pharmaceuticals Inc	136.50	16.48	13.73%

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

TTY Biopharm Company Limited AI Stock Analysis