Nuvoton Technology Corporation (4919) AI Stock Analysis

Nuvoton Technology Corporation

(TWSE:4919)

Select Model

Rating:38Underperform

Price Target:TWD 84.00▼(-21.50% Downside)

Action:initiatedcoverage

Date:11/09/26

Nuvoton scores near the bottom of the range, driven primarily by deteriorating fundamentals: three straight years of revenue decline, margin compression into operating and net losses, and — most concerning — negative operating and free cash flow that has required incremental borrowing. A moderately leveraged balance sheet with equity funding about half of assets provides some time for a turnaround, but it is not enough to offset the earnings and cash burn. Technicals reinforce the caution, with the price far below all key moving averages and strongly negative MACD momentum, though deeply oversold RSI and Stochastic readings suggest the selling may be stretched near term. Valuation provides no cushion given negative earnings and a token 0.45% dividend yield. Key signposts for improvement would be a return to revenue growth, gross margin recovery above 37%, and a swing back to positive operating cash flow.

Positive Factors

Revenue reboundThe sharp TTM revenue rebound indicates that demand and sales activity recovered meaningfully from the prior period. If retained across the next several quarters, this larger revenue base could improve operating leverage and provide more scale for Nuvoton’s embedded-control and sensing businesses.

Negative Factors

Sustained lossesThe return to operating and net losses shows that current revenue levels are not translating into adequate profitability. Negative earnings reduce internally generated capital, constrain strategic flexibility, and indicate that the business may need stronger margins or better operating leverage to restore sustainable returns.

Nuvoton Technology Corporation (4919) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 47.73B
Dividend Yield: 0.39%
Average Volume (3M): 9.08M
Price to Earnings (P/E): -30.7
Beta (1Y): 1.69
Revenue Growth: 0.34%
EPS Growth: -40.27%
Country: TW
Employees: 3,775
Sector: General
Sector Strength: 55
Industry: Semiconductors

Nuvoton Technology Corporation Business Overview & Revenue Model

Company Description

Nuvoton Technology Corporation functions as a prominent semiconductor firm, operating with its subsidiaries to offer a wide array of products and services. The company is actively involved in the full lifecycle of logic integrated circuits (ICs), fro...

Nuvoton Technology Corporation Financial Statement Overview

Summary

Fundamentals are weak across the board. Revenue has fallen for three consecutive years (NT$41.9bn in 2022 to roughly NT$30.8bn TTM), gross margin has compressed from ~42% to ~37%, and the company has swung from a 10% net margin in 2022 to operating and net losses (TTM operating loss of ~NT$1.6bn, net margin -4.9%). Cash flow is the weakest pillar: operating cash flow turned negative (-NT$1.13bn TTM) and free cash flow was roughly -NT$2.1bn as capital spending continued, forcing additional borrowing. The balance sheet is the one relative strength — equity funds about half of total assets and debt-to-equity has eased to a manageable 0.36 — but rising debt alongside negative return on equity (~-10% TTM) is eroding that cushion.

Income Statement

32Negative

Balance Sheet

55Neutral

Cash Flow

25Negative

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	30.83B	30.49B	31.92B	35.35B	41.87B	41.46B
Gross Profit	11.30B	11.19B	12.10B	14.34B	17.49B	16.86B
EBITDA	256.22M	504.55M	1.62B	4.10B	6.35B	4.94B
Net Income	-1.50B	-1.66B	219.85M	2.42B	4.22B	2.94B
Balance Sheet
Total Assets	32.16B	29.99B	30.30B	31.74B	36.85B	34.41B
Cash, Cash Equivalents and Short-Term Investments	7.60B	7.20B	5.70B	6.36B	10.46B	9.70B
Total Debt	5.92B	7.13B	3.48B	2.61B	3.23B	2.90B
Total Liabilities	15.85B	16.87B	14.63B	15.01B	19.29B	18.85B
Stockholders Equity	16.31B	13.12B	15.66B	16.73B	17.57B	15.55B
Cash Flow
Free Cash Flow	-2.10B	-1.64B	-338.66M	-1.23B	1.70B	3.29B
Operating Cash Flow	-1.13B	-289.57M	1.69B	132.09M	3.42B	4.11B
Investing Cash Flow	-913.00M	-1.21B	-1.84B	-389.21M	-2.16B	758.01M
Financing Cash Flow	2.98M	3.32B	-567.14M	-3.49B	-821.09M	-494.77M

Nuvoton Technology Corporation Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:4919 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:3227	77Outperform	TWD 26.95B	13.67	―	5.70%	4.58%	-1.46%
TW:2458	68Neutral	TWD 33.35B	13.51	―	7.56%	-7.93%	7.33%
TW:4966	66Neutral	TWD 31.19B	14.16	―	4.31%	-2.69%	-20.21%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
TW:2388	54Neutral	TWD 31.52B	33.04	―	0.09%	-2.83%	4352.20%
TW:4919	38Underperform	TWD 46.82B	-30.71	―	0.39%	0.34%	-40.27%
TW:5351	35Underperform	TWD 30.17B	15.43	―	―	245.54%	―

* General Sector Average

Performance Comparison

TW:4919 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:4919	Nuvoton Technology Corporation	107.00	52.00	94.55%
TW:2388	VIA Technologies, Inc.	56.60	4.83	9.33%
TW:2458	ELAN Microelectronics Corp.	117.00	-4.93	-4.04%
TW:3227	PixArt Imaging Inc.	175.50	-36.95	-17.39%
TW:4966	Parade Technologies, Ltd.	412.50	-228.31	-35.63%
TW:5351	Etron Technology, Inc.	97.10	51.45	112.71%

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

Nuvoton Technology Corporation AI Stock Analysis