STL Technology Co., Ltd. (4931) AI Stock Analysis

STL Technology Co., Ltd.

(TPEx:4931)

Select Model

Rating:67Neutral

Price Target:TWD 173.00▼(-9.42% Downside)

Action:initiatedcoverage

Date:11/10/26

The score is supported primarily by strong financial performance, especially the very low leverage, growing equity, and improved profitability. However, bearish technical momentum, inconsistent cash conversion, a high P/E ratio, and a modest dividend yield materially reduce the overall score.

Positive Factors

Very Low LeverageThe exceptionally low debt burden gives STL Technology substantial financial flexibility and reduces refinancing exposure. A conservative capital structure can help the company withstand cyclical weakness, preserve borrowing capacity, and continue funding operations or investment without heavy interest obligations.

Negative Factors

Cyclical Revenue and EarningsThe company’s uneven historical revenue and earnings pattern reduces confidence that the latest recovery will remain consistent through the cycle. Sharp prior declines and losses can make planning, investment pacing, and shareholder returns more volatile even when current margins are healthy.

STL Technology Co., Ltd. (4931) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 12.10B
Dividend Yield: 1.31%
Average Volume (3M): 3.84M
Price to Earnings (P/E): 31.9
Beta (1Y): 1.39
Revenue Growth: 95.69%
EPS Growth: 233.88%
Country: TW
Employees: 104
Sector: General
Sector Strength: 55
Industry: Electrical Equipment & Parts

STL Technology Co., Ltd. Business Overview & Revenue Model

Company Description

STL Technology Co., Ltd. provides lithium-ion management solutions in Taiwan. It manufactures and sells lithium-ion battery modules for power tools, energy storage systems, and light electronic vehicles. The company was founded in 2004 and is headqua...

STL Technology Co., Ltd. Financial Statement Overview

Summary

Strong overall financial condition, led by excellent balance-sheet strength and improved profitability. The main weakness is volatile cash generation and a 22.0% year-over-year decline in free cash flow.

Income Statement

82Very Positive

Balance Sheet

94Very Positive

Cash Flow

68Positive

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	3.24B	2.45B	2.00B	1.71B	2.75B	1.49B
Gross Profit	741.25M	512.50M	405.01M	265.66M	461.57M	154.10M
EBITDA	491.70M	293.32M	248.81M	68.34M	289.20M	-6.48M
Net Income	390.63M	203.56M	161.50M	106.52M	189.68M	-39.67M
Balance Sheet
Total Assets	3.75B	2.10B	1.71B	1.38B	1.89B	1.38B
Cash, Cash Equivalents and Short-Term Investments	945.69M	668.42M	607.62M	334.58M	646.57M	203.99M
Total Debt	677.53M	10.61M	9.26M	12.96M	116.64M	11.25M
Total Liabilities	2.14B	868.38M	536.29M	312.91M	792.17M	492.90M
Stockholders Equity	1.61B	1.23B	1.18B	1.07B	1.09B	885.78M
Cash Flow
Free Cash Flow	42.86M	213.69M	394.90M	12.73M	329.01M	-448.46M
Operating Cash Flow	194.54M	281.48M	428.10M	94.71M	366.95M	-418.94M
Investing Cash Flow	-742.76M	-75.67M	-103.91M	-168.00M	-37.97M	-29.52M
Financing Cash Flow	806.77M	-135.68M	-56.36M	-239.05M	105.45M	-42.36M

STL Technology Co., Ltd. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:4931 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:8109	71Outperform	TWD 9.89B	14.80	―	3.64%	32.66%	44.89%
TW:4931	67Neutral	TWD 12.16B	31.86	―	1.31%	95.69%	233.88%
TW:5284	60Neutral	TWD 12.88B	13.81	―	2.13%	41.38%	58.01%
TW:3209	59Neutral	TWD 11.57B	8.01	―	4.20%	22.25%	199.92%
TW:3624	56Neutral	TWD 12.67B	26.58	―	0.93%	29.67%	175.64%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
TW:2231	34Underperform	TWD 10.66B	-88.27	―	0.63%	-20.55%	-146.86%

* General Sector Average

Performance Comparison

TW:4931 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:4931	STL Technology Co., Ltd.	191.00	61.88	47.93%
TW:2231	CUB Elecparts, Inc.	79.00	-20.31	-20.45%
TW:3209	Alltek Technology Corp.	47.60	16.88	54.94%
TW:3624	Viking Tech Corporation	118.50	69.31	140.90%
TW:5284	JPP Holding Co., Ltd.	231.50	-55.19	-19.25%
TW:8109	P-DUKE Technology Co. Ltd	123.50	28.82	30.43%

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

STL Technology Co., Ltd. AI Stock Analysis