Fitipower Integrated Technology Inc. (4961) AI Stock Analysis

Fitipower Integrated Technology Inc.

(TWSE:4961)

Select Model

Rating:61Neutral

Price Target:TWD 174.00▲(0.00% Upside)

Action:initiatedcoverage

Date:11/09/26

Fitipower scores in the middle of the range. Its greatest strength is financial resilience: an essentially debt-free balance sheet, a large equity cushion, and a strong rebound in operating and free cash flow that comfortably covers a 4.7% dividend yield. Weighing against this is clear cyclical deterioration in the income statement, with revenue down again, gross margin nearly halved since 2021 and return on equity at just 6.7%. Technicals add near-term caution, as the stock trades below its 20-, 50- and 100-day averages with a negative MACD, although an RSI of 35.6 suggests the selling is becoming stretched and the price still holds above its 200-day average. Overall, a low-risk, income-oriented holding whose re-rating depends on margin recovery as the semiconductor cycle improves.

Positive Factors

Very Low LeverageThe exceptionally low debt burden gives Fitipower substantial financial flexibility through semiconductor cycles. A large equity base relative to assets reduces solvency pressure, limits interest exposure, and preserves capacity to fund operations, investment, and shareholder returns without relying heavily on borrowing.

Negative Factors

Revenue ContractionThe return to revenue contraction signals weaker demand or product activity across the company’s end markets, including displays, computing, and consumer electronics. Sustained top-line pressure can reduce operating leverage, constrain investment capacity, and make a return to prior-cycle earnings levels less certain.

Fitipower Integrated Technology Inc. (4961) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 21.68B
Dividend Yield: 4.44%
Average Volume (3M): 995.18K
Price to Earnings (P/E): 19.8
Beta (1Y): 0.67
Revenue Growth: -10.15%
EPS Growth: -36.28%
Country: TW
Employees: 239
Sector: General
Sector Strength: 55
Industry: Semiconductors

Fitipower Integrated Technology Inc. Business Overview & Revenue Model

Company Description

Based in Hsinchu City, Taiwan, Fitipower Integrated Technology Inc., established in 1995, is a semiconductor company dedicated to the research, development, and sale of integrated circuits within Taiwan. The company's primary focus includes LCD drive...

Fitipower Integrated Technology Inc. Financial Statement Overview

Summary

A tale of two halves. The balance sheet is exceptionally strong (score 86): effectively debt-free with NT$65M of debt against NT$17.56B of equity, funding roughly two-thirds of assets and providing ample flexibility through the cycle. Cash generation also improved markedly (score 73), with operating cash flow doubling to NT$2.56B and free cash flow rising to NT$1.99B at about 2.2x net income, signalling high earnings quality. The offset is a weak income statement (score 47): revenue fell about 6% to NT$17.99B and sits roughly 21% below the 2021 peak, while gross margin compressed from 46.6% to 28.5%, net margin to 6.5%, and net income dropped 40%. Return on equity has slipped to 6.7%, so the business is financially safe but under clear growth and profitability pressure.

Income Statement

47Neutral

Balance Sheet

86Very Positive

Cash Flow

73Positive

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	18.14B	17.99B	19.20B	16.29B	19.68B	22.87B
Gross Profit	4.92B	5.13B	5.49B	5.28B	7.15B	10.66B
EBITDA	2.11B	2.51B	3.46B	3.34B	4.37B	8.04B
Net Income	1.07B	1.17B	1.95B	2.15B	3.07B	5.85B
Balance Sheet
Total Assets	28.62B	26.34B	26.67B	24.87B	25.46B	24.29B
Cash, Cash Equivalents and Short-Term Investments	13.35B	12.63B	12.07B	12.65B	16.40B	12.49B
Total Debt	74.11M	65.14M	102.17M	76.60M	261.90M	861.31M
Total Liabilities	5.92B	3.76B	4.25B	3.68B	4.31B	6.91B
Stockholders Equity	17.27B	17.56B	17.91B	17.32B	17.39B	15.85B
Cash Flow
Free Cash Flow	2.07B	1.99B	497.49M	2.55B	4.89B	3.49B
Operating Cash Flow	2.99B	2.56B	1.23B	3.01B	5.64B	4.03B
Investing Cash Flow	-2.42B	-374.81M	-279.25M	-5.39B	-5.81B	-5.34B
Financing Cash Flow	-1.78B	-1.61B	-1.40B	-2.28B	-278.43M	5.49B

Fitipower Integrated Technology Inc. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:4961 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:6138	76Outperform	TWD 15.99B	14.17	―	5.07%	18.18%	48.17%
TW:6719	69Neutral	TWD 17.20B	19.94	―	2.82%	-1.77%	94.13%
TW:4961	61Neutral	TWD 20.91B	19.80	―	4.44%	-10.15%	-36.28%
TW:3592	58Neutral	TWD 16.22B	13.09	―	6.71%	5.82%	-15.25%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
TW:2426	52Neutral	TWD 24.74B	129.00	―	0.12%	5.26%	―
TW:5425	52Neutral	TWD 19.66B	26.95	―	2.55%	7.28%	85.43%

* General Sector Average

Performance Comparison

TW:4961 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:4961	Fitipower Integrated Technology Inc.	174.00	38.17	28.10%
TW:2426	Tyntek Corporation	82.30	66.17	410.23%
TW:3592	Raydium Semiconductor Corp.	217.50	0.85	0.39%
TW:5425	Taiwan Semiconductor Co., Ltd.	79.20	27.85	54.24%
TW:6138	Anpec Electronics Corporation	216.00	-11.88	-5.21%
TW:6719	uPI Semiconductor Corp.	163.00	-32.78	-16.74%

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

Fitipower Integrated Technology Inc. AI Stock Analysis