United Orthopedic Corporation (4129) AI Stock Analysis

United Orthopedic Corporation

(TPEx:4129)

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Rating:70.5Outperform

Price Target:TWD 79.00▲(8.67% Upside)

Action:initiatedcoverage

Date:11/10/26

The score is supported primarily by strong financial performance and attractive valuation, especially profitability, manageable leverage, a modest P/E ratio, and a high dividend yield. These strengths are tempered by weakening free cash flow and bearish technical trends, despite oversold momentum indicators.

Positive Factors

High ProfitabilityUnited Orthopedic’s consistently high gross margins and improving net margin indicate a strong economics profile in its orthopedic device business. Healthy operating profitability can support product development, commercial investment, and resilience across the next several quarters.

Negative Factors

Volatile Free Cash FlowUneven free-cash-flow generation weakens confidence that reported profits consistently translate into cash available for investment, debt reduction, or dividends. The low latest-year conversion increases funding uncertainty and could constrain capital allocation if reinvestment needs remain elevated.

United Orthopedic Corporation (4129) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 7.05B
Dividend Yield: 6.19%
Average Volume (3M): 244.36K
Price to Earnings (P/E): 12.7
Beta (1Y): 0.37
Revenue Growth: 18.91%
EPS Growth: 10.75%
Country: TW
Employees: 576
Sector: General
Sector Strength: 55
Industry: Medical - Devices

United Orthopedic Corporation Business Overview & Revenue Model

Company Description

United Orthopedic Corporation is a firm dedicated to the research, development, manufacturing, and global distribution of advanced orthopedic implants and specialized surgical instruments. The company's extensive product offerings address a wide spec...

United Orthopedic Corporation Financial Statement Overview

Summary

Strong profitability, revenue growth, equity returns, and manageable leverage support the score. The main weakness is materially lower free cash flow and weaker cash conversion, despite strong operating cash flow.

Income Statement

85Very Positive

Balance Sheet

82Very Positive

Cash Flow

66Positive

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	6.06B	5.66B	4.65B	3.93B	3.16B	2.57B
Gross Profit	4.73B	4.40B	3.62B	3.04B	2.12B	1.63B
EBITDA	1.30B	1.28B	1.08B	949.84M	676.84M	471.16M
Net Income	551.87M	562.50M	456.43M	384.20M	221.53M	52.27M
Balance Sheet
Total Assets	8.51B	7.82B	7.04B	6.42B	5.62B	5.24B
Cash, Cash Equivalents and Short-Term Investments	579.93M	662.81M	619.69M	457.91M	411.46M	638.68M
Total Debt	2.36B	2.06B	1.86B	1.63B	1.57B	1.72B
Total Liabilities	4.51B	3.62B	3.09B	2.82B	2.53B	2.42B
Stockholders Equity	3.90B	4.10B	3.85B	3.50B	2.99B	2.72B
Cash Flow
Free Cash Flow	-84.12M	264.60M	127.96M	-123.80M	-45.42M	107.43M
Operating Cash Flow	725.63M	1.03B	717.29M	433.73M	340.79M	334.64M
Investing Cash Flow	-758.15M	-714.92M	-563.60M	-469.71M	-385.43M	-193.48M
Financing Cash Flow	63.49M	-238.23M	-14.34M	148.09M	-209.96M	-307.79M

United Orthopedic Corporation Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:4129 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:4107	78Outperform	TWD 7.35B	12.29	―	5.12%	10.16%	17.15%
TW:4129	71Outperform	TWD 7.01B	12.73	―	6.19%	18.91%	10.75%
TW:3152	66Neutral	TWD 7.57B	19.49	―	7.67%	1.88%	-26.76%
TW:4163	59Neutral	TWD 6.41B	20.66	―	2.78%	4.16%	40.82%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
TW:6499	33Underperform	TWD 7.33B	-16.44	―	―	69.62%	59.41%

* General Sector Average

Performance Comparison

TW:4129 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:4129	United Orthopedic Corporation	72.70	-43.31	-37.33%
TW:3152	Advanced Ceramic X Corporation	193.00	4.13	2.19%
TW:4107	Bioteque Corporation	107.50	-14.13	-11.62%
TW:4163	Intai Technology Corp.	126.00	30.50	31.94%
TW:6499	Medeon Biodesign, Inc.	73.80	-22.70	-23.52%
TW:6907	Artery Technology Corporation	123.50	74.84	153.82%

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

United Orthopedic Corporation AI Stock Analysis