TST Group Holding Ltd. AI Stock Analysis
TST Group Holding Ltd. (4439) AI Stock Analysis
TST Group Holding Ltd.
(TWSE:4439)
TST Group scores in the middle of the range. The dominant factor is a financial profile that is recovering but not yet proven: strong FY2025 revenue and profit growth and margin expansion are offset by a rapidly expanding debt load, returns still below historical peaks, and a multi-year record of negative free cash flow driven by heavy capital spending. An inexpensive 10.1x P/E and a 4.3% dividend yield provide valuation and income support, along with low volatility. Weighing on the score, technical indicators are negative — the stock trades below its short- and medium-term moving averages with a negative MACD, though momentum readings are nearing oversold levels. Confirmation of sustained positive free cash flow and further margin gains would be the key catalysts for a higher rating.
TST Group Holding Ltd. (4439) vs. SPDR S&P 500 ETF (SPY)
- Market Cap
- TWD 3.72B
- Dividend Yield
- 4.14%
- Average Volume (3M)
- 31.30K
- Price to Earnings (P/E)
- 10.5
- Beta (1Y)
- 0.28
- Revenue Growth
- 19.84%
- EPS Growth
- 223.34%
- Country
- TW
- Employees
- 556
- Sector
- General
- Sector Strength
- 55
- Industry
- Manufacturing - Textiles
TST Group Holding Ltd. Business Overview & Revenue Model
Company Description
TST Group Holding Ltd. manufactures and sales of cotton fabric in textile industry. The company was founded in 1995 and is based in George Town, Cayman Islands.
TST Group Holding Ltd. Financial Statement Overview
Summary
FY2025 marked a credible recovery: revenue rose ~29% to NT$7.00bn, operating profit more than doubled, and net income surged to NT$294m from NT$66m, with gross, operating and net margins all widening. The balance sheet retains a solid equity cushion (~54% of assets) and ROE improved to 8.8%. However, debt has ballooned roughly eightfold since 2022 to NT$1.54bn (D/E 0.46), margins and returns remain below prior peaks, and cash flow is the weak link — free cash flow has been negative in four of the last five years due to heavy capex, though it nearly broke even in FY2025. Overall, an improving but still cyclical and funding-dependent profile.
Income Statement
62PositiveBalance Sheet
65PositiveCash Flow
45Neutral| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 7.44B | 7.00B | 5.42B | 5.19B | 7.43B | 7.42B |
| Gross Profit | 1.38B | 1.26B | 882.39M | 1.24B | 1.26B | 1.08B |
| EBITDA | 761.84M | 696.48M | 411.87M | 712.55M | 699.40M | 549.85M |
| Net Income | 352.77M | 294.08M | 65.66M | 408.20M | 442.04M | 336.13M |
Balance Sheet | ||||||
| Total Assets | 7.31B | 6.20B | 5.77B | 4.98B | 4.31B | 4.86B |
| Cash, Cash Equivalents and Short-Term Investments | 426.39M | 537.86M | 487.83M | 503.44M | 907.42M | 740.50M |
| Total Debt | 1.76B | 1.54B | 1.40B | 833.40M | 196.95M | 787.72M |
| Total Liabilities | 3.87B | 2.85B | 2.52B | 1.82B | 1.29B | 2.36B |
| Stockholders Equity | 3.44B | 3.36B | 3.25B | 3.16B | 3.03B | 2.49B |
Cash Flow | ||||||
| Free Cash Flow | -258.53M | -12.78M | -491.94M | -541.53M | 380.90M | -425.22M |
| Operating Cash Flow | 78.34M | 322.80M | 23.25M | 522.49M | 875.28M | -281.48M |
| Investing Cash Flow | -357.27M | -283.30M | -487.34M | -1.25B | -489.58M | -139.66M |
| Financing Cash Flow | 126.76M | -21.69M | 356.74M | 313.26M | -331.20M | -61.24M |
TST Group Holding Ltd. Peers Comparison
Overall Rating
TW:145974Outperform- TW:443959Neutral
TW:145756Neutral
TW:145153Neutral
TW:146447Neutral
TW:146046Neutral
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| TW:1459 | 74Outperform | TWD 3.68B | 7.00 | ― | 22.28% | ― | ― |
| TW:4439 | 59Neutral | TWD 3.72B | 10.54 | ― | 4.14% | 19.84% | 223.34% |
| TW:1457 | 56Neutral | TWD 3.31B | 10.37 | ― | 7.14% | -20.14% | 30.46% |
| Sector * | 55Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
| TW:1451 | 53Neutral | TWD 3.38B | 10.12 | ― | 5.85% | 8.77% | -3.63% |
| TW:1464 | 47Neutral | TWD 3.96B | 11.48 | ― | 2.69% | -3.78% | 110.06% |
| TW:1460 | 46Neutral | TWD 4.02B | -29.03 | ― | ― | -17.70% | 48.98% |
* General Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| TW:4439 | TST Group Holding Ltd. | 98.00 | 10.91 | 12.53% | |
| TW:1451 | Nien Hsing Textile Co., Ltd. | 17.10 | 0.63 | 3.84% | |
| TW:1457 | Yi Jinn Industrial Co.,Ltd | 14.00 | -1.44 | -9.33% | |
| TW:1459 | Lan Fa Textile Co., Ltd. | 17.00 | 4.59 | 37.03% | |
| TW:1460 | Everest Textile Co., Ltd. | 5.96 | 0.36 | 6.43% | |
| TW:1464 | De Licacy Industrial Co., Ltd. | 9.30 | -1.34 | -12.61% |
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