Pacific Hospital Supply Co., Ltd. (4126) AI Stock Analysis

Pacific Hospital Supply Co., Ltd.

(TPEx:4126)

Select Model

Rating:68Neutral

Price Target:TWD 80.00▲(6.67% Upside)

Action:initiatedcoverage

Date:11/09/26

Pacific Hospital Supply scores above average, anchored by a fortress balance sheet, dependable free cash flow and high-quality earnings. Valuation support is strong, with a modest 12.4x P/E and a 6.1% dividend yield backed by ample cash generation. Offsetting this are two concerns: margins compressed across the board last year and net income fell ~14% on low single-digit revenue growth, and the share price is in a downtrend below all key moving averages with negative MACD. The result is a stable, income-oriented holding whose re-rating likely depends on evidence of margin and earnings recovery.

Positive Factors

Consistent ProfitabilityConsistently healthy gross, operating, and net margins indicate an established business model with meaningful earnings power. This profitability provides resources for reinvestment, shareholder returns, and resilience over the next several quarters even when revenue growth is uneven.

Negative Factors

Recent Revenue ContractionThe 2025 revenue decline interrupts the prior growth trend and signals weaker recent demand or business momentum. If this contraction persists, it could limit operating leverage, reduce reinvestment capacity, and make it harder for earnings to return to their earlier growth path.

Pacific Hospital Supply Co., Ltd. (4126) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 5.40B
Dividend Yield: 6.00%
Average Volume (3M): 33.73K
Price to Earnings (P/E): 12.5
Beta (1Y): 0.11
Revenue Growth: 1.32%
EPS Growth: 7.25%
Country: TW
Employees: 812
Sector: General
Sector Strength: 55
Industry: Medical - Specialties

Pacific Hospital Supply Co., Ltd. Business Overview & Revenue Model

Company Description

Pacific Hospital Supply Co., Ltd., together with its subsidiaries, manufactures, processes, and sells medical disposable products and equipment in Taiwan. The company’s disposable medical devices include tubings, bags, bottles, closed wound drainage...

Pacific Hospital Supply Co., Ltd. Financial Statement Overview

Summary

A financially conservative, cash-generative medical products maker. The balance sheet (85) is the standout: debt-to-equity of just 0.15, equity funding ~76% of assets and ROE of 12.9%. Cash flow (78) is healthy, with operating cash flow of ~NT$542m exceeding net income (1.04x) and free cash flow of ~NT$468m on light capex, though year-to-year conversion has been uneven. The income statement (68) is the weak link: revenue grew only modestly to ~NT$2.41bn while gross, operating and net margins all compressed, driving net income down ~14% to NT$382.9m. Overall: low financial risk and reliable cash, but a softening earnings trajectory.

Income Statement

68Positive

Balance Sheet

85Very Positive

Cash Flow

78Positive

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	2.42B	2.41B	2.35B	2.32B	2.18B	2.02B
Gross Profit	722.62M	724.71M	746.84M	739.75M	587.97M	523.42M
EBITDA	663.67M	612.06M	699.23M	673.80M	568.57M	602.81M
Net Income	434.16M	382.87M	447.85M	420.79M	331.40M	386.42M
Balance Sheet
Total Assets	4.19B	3.92B	3.88B	3.77B	3.65B	3.80B
Cash, Cash Equivalents and Short-Term Investments	1.39B	1.16B	1.10B	990.62M	688.29M	815.27M
Total Debt	430.79M	432.89M	432.30M	437.43M	439.53M	675.73M
Total Liabilities	1.33B	951.83M	939.57M	934.34M	929.03M	1.09B
Stockholders Equity	2.86B	2.97B	2.94B	2.83B	2.72B	2.71B
Cash Flow
Free Cash Flow	480.04M	467.89M	456.57M	620.72M	394.15M	285.14M
Operating Cash Flow	568.21M	542.15M	505.24M	653.63M	431.66M	319.11M
Investing Cash Flow	-221.18M	-75.22M	-150.78M	-273.74M	-26.31M	382.65M
Financing Cash Flow	-375.18M	-374.87M	-358.76M	-312.72M	-564.34M	-482.49M

Pacific Hospital Supply Co., Ltd. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:4126 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:4166	70Outperform	TWD 5.47B	22.78	―	―	―	―
TW:4126	68Neutral	TWD 5.39B	12.54	―	6.00%	1.32%	7.25%
TW:4746	64Neutral	TWD 5.43B	11.42	―	6.61%	-2.71%	―
TW:1788	63Neutral	TWD 5.57B	14.19	―	5.56%	7.58%	13.04%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
TW:4164	55Neutral	TWD 4.79B	21.84	―	4.45%	11.83%	27.86%
TW:4119	48Neutral	TWD 5.85B	95.69	―	1.55%	-18.83%	-87.54%

* General Sector Average

Performance Comparison

TW:4126 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:4126	Pacific Hospital Supply Co., Ltd.	75.00	-8.60	-10.29%
TW:1788	Hi-Clearance Inc.	126.00	-4.42	-3.39%
TW:4119	SCI Pharmtech Corp.	48.50	-0.61	-1.25%
TW:4164	CHC Healthcare Group	24.90	-15.67	-38.63%
TW:4166	Orient Pharma Co., Ltd.	22.55	-2.05	-8.33%
TW:4746	Formosa Laboratories, Inc.	45.40	-15.89	-25.92%

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

Pacific Hospital Supply Co., Ltd. AI Stock Analysis