Star Comgistic Capital Co., Ltd. (4930) AI Stock Analysis

Star Comgistic Capital Co., Ltd.

(TWSE:4930)

Select Model

Rating:41Neutral

Price Target:TWD 14.00▼(-3.45% Downside)

Action:initiatedcoverage

Date:11/09/26

Star Comgistic scores poorly overall, driven primarily by weak financial performance: a multi-year revenue contraction, operating margin near breakeven at 0.4%, a 91% drop in operating cash flow and a swing to negative free cash flow leave very little cushion against further pressure. Technicals reinforce the caution, with the price below all key moving averages and a negative MACD, although deeply oversold RSI and stochastic readings hint at scope for a short-term bounce. Valuation is mixed — a negative P/E offers no earnings support, partially offset by a 4.17% dividend yield whose sustainability is uncertain. The main supports are an improving debt load (debt-to-equity down to 0.56), stable equity and cash earnings that still exceed reported profits. A stabilization in revenue and margin recovery would be the key catalysts for an upgrade.

Positive Factors

Manageable LeverageA moderate and improving debt-to-equity ratio indicates the company is not heavily reliant on borrowing to fund its operations. This provides financial flexibility to manage weaker earnings, preserve liquidity, and pursue future investment without an excessive leverage burden.

Negative Factors

Profitability CompressionThe sharp contraction in net and EBIT margins materially reduces current earnings power and leaves less operating buffer against further pressure. Sustained low margins could constrain reinvestment, weaken returns on capital, and make results more sensitive to modest changes in revenue or costs.

Star Comgistic Capital Co., Ltd. (4930) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 1.15B
Dividend Yield: 4.14%
Average Volume (3M): 48.00K
Price to Earnings (P/E): -18.2
Beta (1Y): 0.35
Revenue Growth: -21.55%
EPS Growth: -149.36%
Country: TW
Employees: 3,190
Sector: General
Sector Strength: 55
Industry: Furnishings, Fixtures & Appliances

Star Comgistic Capital Co., Ltd. Business Overview & Revenue Model

Company Description

Star Comgistic Capital Co., Ltd., established in 2009 and headquartered in Taipei City, Taiwan, is a multifaceted enterprise with global operations. The company primarily specializes in the manufacturing and international sales of a wide array of hou...

Star Comgistic Capital Co., Ltd. Financial Statement Overview

Summary

Operations are in a clear downcycle. Revenue fell about 25% to NT$5.97bn and is more than 40% below the 2021 peak, while operating margin collapsed to just 0.4% from 8.1% and net income shrank to NT$47.7m from NT$213.4m (income statement score 29). The balance sheet is the relative bright spot (score 51): debt was cut to NT$1.80bn and debt-to-equity improved to 0.56, though equity funds only ~28% of an NT$11.28bn asset base and ROE has fallen to 1.5%. Cash flow is the weakest link alongside earnings (score 38): operating cash flow dropped roughly 91% to NT$230.9m and free cash flow swung to negative NT$37.3m, so the business did not self-fund its investment this year. Positives are continued profitability, restrained capex and cash earnings still exceeding reported net income.

Income Statement

29Negative

Balance Sheet

51Neutral

Cash Flow

38Negative

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	5.72B	5.97B	7.94B	6.90B	7.40B	10.51B
Gross Profit	635.14M	811.04M	1.26B	1.28B	1.29B	1.60B
EBITDA	51.10M	219.01M	848.87M	1.12B	1.02B	1.37B
Net Income	-63.90M	47.71M	213.38M	288.80M	526.87M	758.84M
Balance Sheet
Total Assets	11.22B	11.28B	12.53B	11.66B	11.63B	13.05B
Cash, Cash Equivalents and Short-Term Investments	6.53B	5.95B	5.47B	6.76B	7.28B	7.46B
Total Debt	1.94B	1.80B	2.06B	1.76B	2.44B	2.38B
Total Liabilities	4.92B	4.93B	5.97B	5.51B	5.69B	6.83B
Stockholders Equity	3.18B	3.21B	3.36B	3.23B	3.14B	3.70B
Cash Flow
Free Cash Flow	-59.90M	-37.27M	2.34B	826.45M	-66.67M	1.70B
Operating Cash Flow	192.26M	230.93M	2.52B	995.63M	120.94M	1.86B
Investing Cash Flow	870.61M	165.03M	-2.80B	-810.56M	-659.92M	-2.79M
Financing Cash Flow	-372.46M	-461.96M	-163.53M	-378.97M	-928.39M	-1.24B

Star Comgistic Capital Co., Ltd. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:4930 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:6154	56Neutral	TWD 1.09B	12.28	―	3.74%	3.43%	163.60%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
TW:6140	48Neutral	TWD 1.31B	-55.48	―	―	-9.26%	-23.58%
TW:6674	46Neutral	TWD 1.26B	-5.35	―	―	-40.57%	-73.29%
TW:6118	43Neutral	TWD 1.32B	32.46	―	―	9.38%	-10.15%
TW:4930	41Neutral	TWD 1.15B	-18.21	―	4.14%	-21.55%	-149.36%

* General Sector Average

Performance Comparison

TW:4930 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:4930	Star Comgistic Capital Co., Ltd.	14.50	-7.03	-32.66%
TW:6118	Xander International Corp.	14.50	-5.55	-27.68%
TW:6140	Dimension Computer Technology Co., Ltd.	26.25	-3.70	-12.35%
TW:6154	Sunfar Computer Co., Ltd.	13.65	0.39	2.97%
TW:6674	Compal Broadband Networks, Inc.	18.45	-2.75	-12.97%
TW:7868	Inforcom Technology Co., Ltd.	56.40	24.18	75.05%

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

Star Comgistic Capital Co., Ltd. AI Stock Analysis