Qualipoly Chemical Corp. (4722) AI Stock Analysis

Qualipoly Chemical Corp.

(TWSE:4722)

Select Model

Rating:42Neutral

Price Target:TWD 123.00▼(-12.77% Downside)

Action:initiatedcoverage

Date:11/10/26

The score is primarily constrained by severely negative cash flow, weakening profitability, and increased leverage. Persistent technical weakness and an elevated P/E ratio further reduce the outlook, despite positive earnings, a meaningful equity base, and oversold technical readings.

Positive Factors

Specialty PU Materials PlatformThe company serves multiple downstream applications where polyurethane performance, including bonding strength, flexibility, and durability, is important. This specialized materials positioning can support recurring industrial demand and provides a platform for serving diverse customers rather than relying on one end market.

Negative Factors

Revenue and Margin PressureThe combination of lower revenue and multi-year margin compression indicates weakening earnings quality and an uneven demand or pricing cycle. If this trend persists, reduced operating profit could limit reinvestment, weaken returns on capital, and make recovery more dependent on a stronger industry environment.

Qualipoly Chemical Corp. (4722) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 14.62B
Dividend Yield: 0.84%
Average Volume (3M): 1.04M
Price to Earnings (P/E): 46.7
Beta (1Y): 1.57
Revenue Growth: 5.35%
EPS Growth: 71.97%
Country: TW
Employees: 5,798
Sector: General
Sector Strength: 55
Industry: Chemicals - Specialty

Qualipoly Chemical Corp. Business Overview & Revenue Model

Company Description

Qualipoly Chemical Corp., together with its subsidiaries, manufactures and sells UV curable materials, unsaturated polyester resins, and synthetic resins in Taiwan, Asia, Europe, North and South America, and internationally. It operates through the Q...

Qualipoly Chemical Corp. Financial Statement Overview

Summary

Profitability and equity remain positive, but declining revenue and margins, sharply higher leverage, and severely negative operating and free cash flow materially weaken the financial profile.

Income Statement

52Neutral

Balance Sheet

55Neutral

Cash Flow

20Very Negative

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	3.77B	3.73B	4.04B	3.45B	4.22B	4.83B
Gross Profit	682.91M	614.78M	677.25M	527.71M	762.27M	1.01B
EBITDA	372.97M	297.81M	370.85M	289.33M	476.33M	551.33M
Net Income	281.03M	201.79M	224.54M	167.03M	315.04M	367.81M
Balance Sheet
Total Assets	8.31B	6.80B	5.34B	4.65B	4.55B	4.62B
Cash, Cash Equivalents and Short-Term Investments	664.95M	286.60M	240.40M	218.32M	520.37M	364.52M
Total Debt	4.21B	2.90B	1.82B	1.24B	1.05B	1.09B
Total Liabilities	4.85B	3.60B	2.30B	1.76B	1.65B	1.84B
Stockholders Equity	3.46B	3.20B	3.04B	2.89B	2.91B	2.78B
Cash Flow
Free Cash Flow	-1.74B	-985.98M	-517.03M	-254.93M	356.95M	-417.07M
Operating Cash Flow	-807.04M	-40.83M	17.49M	210.09M	729.85M	221.32M
Investing Cash Flow	-949.76M	-955.67M	-533.08M	-463.19M	-376.09M	-752.96M
Financing Cash Flow	1.89B	1.02B	527.81M	-35.26M	-151.09M	647.12M

Qualipoly Chemical Corp. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:4722 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:1726	72Outperform	TWD 12.34B	12.46	―	4.87%	1.61%	6.16%
TW:1307	65Neutral	TWD 11.38B	8.46	―	7.76%	4.29%	-2.73%
TW:1714	60Neutral	TWD 15.46B	13.73	―	1.11%	48.25%	238.60%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
TW:1718	42Neutral	TWD 12.37B	16.17	―	―	-11.78%	―
TW:4722	42Neutral	TWD 14.73B	46.70	―	0.84%	5.35%	71.97%
TW:1313	40Underperform	TWD 15.17B	78.33	―	0.85%	-0.93%	―

* General Sector Average

Performance Comparison

TW:4722 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:4722	Qualipoly Chemical Corp.	141.00	-30.34	-17.71%
TW:1307	San Fang Chemical Industry Co., Ltd.	28.35	-3.47	-10.89%
TW:1313	UPC Technology Corporation	11.75	1.34	12.88%
TW:1714	Ho Tung Chemical Corp.	16.20	7.85	94.04%
TW:1718	China Man-Made Fiber Corporation	9.54	2.58	37.07%
TW:1726	Yung Chi Paint & Varnish Mfg Co., Ltd.	75.90	3.88	5.39%

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

Qualipoly Chemical Corp. AI Stock Analysis