Primax Electronics Ltd. (4915) AI Stock Analysis

Primax Electronics Ltd.

(TWSE:4915)

Select Model

Rating:64.4Neutral

Price Target:TWD 56.00▲(9.59% Upside)

Action:initiatedcoverage

Date:11/10/26

The score is primarily constrained by sharply weaker cash generation and declining operating efficiency, while the strong balance sheet, continued profitability, low P/E ratio, and high dividend yield provide support. Technical indicators remain bearish despite oversold readings.

Positive Factors

Conservative Balance SheetLow leverage and expanding equity provide Primax with financial flexibility to withstand business volatility and fund operations without excessive reliance on borrowing. Solid returns on equity further indicate that the balance sheet is supporting productive capital use over the medium term.

Negative Factors

Sharp Free Cash Flow DeteriorationThe latest cash-flow decline shows that accounting earnings are converting into cash much less effectively than in prior years. Persistently weak conversion could constrain dividends, investment, and debt reduction, while also increasing sensitivity to working-capital or investment demands.

Primax Electronics Ltd. (4915) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 23.30B
Dividend Yield: 8.94%
Average Volume (3M): 3.08M
Price to Earnings (P/E): 10.1
Beta (1Y): 0.37
Revenue Growth: 13.42%
EPS Growth: -25.09%
Country: TW
Employees: 532
Sector: General
Sector Strength: 55
Industry: Computer Hardware

Primax Electronics Ltd. Business Overview & Revenue Model

Company Description

Primax Electronics Ltd., along with its subsidiaries, operates internationally from its headquarters in Taipei, Taiwan, specializing in the manufacturing and global distribution of an extensive array of computer and non-computer peripheral solutions....

Primax Electronics Ltd. Financial Statement Overview

Summary

Financial quality is supported by a strong balance sheet and continued profitability, but the sharp decline in operating and free cash flow and weaker operating margins materially reduce the score.

Income Statement

72Positive

Balance Sheet

82Very Positive

Cash Flow

48Neutral

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	63.95B	60.18B	58.24B	60.49B	79.24B	71.65B
Gross Profit	10.10B	10.42B	9.88B	9.58B	10.98B	9.38B
EBITDA	4.30B	4.24B	5.14B	5.32B	5.85B	5.21B
Net Income	2.33B	2.63B	2.56B	2.49B	2.74B	2.30B
Balance Sheet
Total Assets	54.65B	51.22B	50.13B	46.55B	47.26B	49.47B
Cash, Cash Equivalents and Short-Term Investments	11.48B	12.80B	14.21B	11.31B	6.81B	6.66B
Total Debt	5.10B	4.67B	4.32B	3.25B	2.85B	5.60B
Total Liabilities	34.24B	30.70B	30.29B	27.46B	28.97B	33.03B
Stockholders Equity	20.41B	20.52B	19.83B	17.01B	16.35B	14.18B
Cash Flow
Free Cash Flow	-1.80B	573.88M	4.24B	6.14B	4.23B	-1.37B
Operating Cash Flow	583.16M	2.93B	5.62B	7.73B	6.19B	1.67B
Investing Cash Flow	-2.57B	-2.55B	-1.27B	-1.44B	-533.58M	-3.87B
Financing Cash Flow	-1.67B	-2.05B	-2.08B	-1.50B	-4.53B	227.25M

Primax Electronics Ltd. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:4915 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:3596	66Neutral	TWD 29.87B	10.47	―	6.57%	4.32%	5.74%
TW:4915	64Neutral	TWD 23.90B	10.12	―	8.94%	13.42%	-25.09%
TW:2374	62Neutral	TWD 17.71B	15.10	―	3.80%	55.45%	87.51%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
TW:2362	54Neutral	TWD 23.62B	6.85	―	4.81%	-0.99%	91.52%
TW:3673	51Neutral	TWD 25.74B	13.97	―	2.84%	10.26%	102.82%
TW:6456	45Neutral	TWD 28.45B	-19.64	―	―	-18.65%	-2167.42%

* General Sector Average

Performance Comparison

TW:4915 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:4915	Primax Electronics Ltd.	51.10	-31.71	-38.29%
TW:2362	Clevo Co.	41.60	1.04	2.56%
TW:2374	Ability Enterprise Co., Ltd.	52.40	-31.71	-37.70%
TW:3596	Arcadyan Technology Corporation	137.00	-42.42	-23.64%
TW:3673	TPK Holding Co., Ltd.	63.30	21.78	52.47%
TW:6456	General Interface Solution (GIS) Holding Ltd.	84.20	38.50	84.25%

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

Primax Electronics Ltd. AI Stock Analysis