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Richwave Technology Corporation (4968) AI Stock Analysis

TW:4968

Richwave Technology Corporation

(TWSE:4968)

Select Model
Rating:60.9Neutral
Price Target:TWD 76.00â–¼(-6.17% Downside)
Action:initiatedcoverage
Date:11/10/26

The score is primarily constrained by declining revenue, weaker margins, and materially reduced cash generation. A strong low-debt balance sheet and continued profitability provide resilience, while bearish technical momentum and a relatively high P/E further limit the score.

Positive Factors
Low LeverageVery low leverage gives Richwave financial flexibility during semiconductor cycles, reducing refinancing pressure and interest burden. Positive, fairly steady ROE also indicates that the company is using its capital productively after recovering from the prior downturn.
Negative Factors
Sharp Revenue ContractionA roughly 35% TTM revenue decline signals substantial pressure on demand, product volumes, or customer spending. Prolonged top-line weakness can reduce operating leverage, constrain investment capacity, and make recovery in earnings dependent on a renewed semiconductor upcycle.

Richwave Technology Corporation (4968) vs. SPDR S&P 500 ETF (SPY)

-50%-40%-30%-20%-10%0%10%20%TW:4968-40.45%SPY+14.30%Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
Market Cap
TWD 7.44B
Dividend Yield
1.98%
Average Volume (3M)
424.82K
Price to Earnings (P/E)
30.6
Beta (1Y)
1.13
Revenue Growth
3.36%
EPS Growth
24.69%
Country
TW
Employees
112
Sector
General
Sector Strength
55
Industry
Semiconductors

Richwave Technology Corporation Business Overview & Revenue Model

Company Description

Established in Taipei City, Taiwan, in 2004, RichWave Technology Corporation specializes in the global design, development, and distribution of radio frequency (RF) integrated circuits. The company provides a comprehensive suite of RF components tail...

Richwave Technology Corporation Financial Statement Overview

Summary

The balance sheet is very strong and low-leverage, but the score is reduced by a 34.7% TTM revenue decline, weaker margins, and a 59.4% decrease in free cash flow. The company remains profitable with positive cash flow.

Income Statement

58Neutral

Balance Sheet

88Very Positive

Cash Flow

47Neutral
Financial statement breakdown
BreakdownTTMDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue3.83B3.76B3.68B2.98B3.43B5.32B
Gross Profit1.30B1.36B1.23B802.09M1.06B1.55B
EBITDA309.91M389.06M364.45M-126.55M213.09M642.60M
Net Income246.57M245.12M156.57M-222.29M55.06M465.52M
Balance Sheet
Total Assets3.50B3.67B3.37B3.18B3.45B3.30B
Cash, Cash Equivalents and Short-Term Investments1.02B1.26B1.01B918.89M1.02B641.34M
Total Debt70.45M76.51M169.39M315.54M314.87M260.18M
Total Liabilities761.48M923.59M807.91M976.13M1.08B905.30M
Stockholders Equity2.73B2.75B2.56B2.20B2.37B2.40B
Cash Flow
Free Cash Flow72.48M475.02M106.33M-72.27M275.26M-3.41M
Operating Cash Flow113.61M515.95M181.94M82.96M372.18M161.35M
Investing Cash Flow134.66M-624.11M-75.34M-152.10M5.73M-274.46M
Financing Cash Flow-180.23M-154.51M-26.82M-30.46M-55.73M-84.77M

Richwave Technology Corporation Peers Comparison

Overall Rating

UnderperformOutperform
Sector (55)

Financial Indicators

TW:4968 against its peers
NameOverall RatingMarket CapP/E RatioROEDividend YieldRevenue GrowthEPS Growth
TW:6104TW:610470OutperformTWD 7.32B16.72―5.65%2.68%-23.15%
TW:3694TW:369467NeutralTWD 6.47B10.10―5.69%15.44%18.33%
TW:4968TW:496861NeutralTWD 7.40B30.60―1.98%3.36%24.69%
Sector *55Neutral$6.65B3.83-15.92%6.20%10.91%7.18%
TW:6756TW:675651NeutralTWD 8.19B54.09―0.73%28.20%117.74%
TW:8040TW:804044NeutralTWD 6.60B787.78――13.49%―
TW:8054TW:805439UnderperformTWD 7.00B-73.04――109.58%74.96%

* General Sector Average

Performance Comparison

-50%0%50%100%150%TW:4968TW:3694TW:6104TW:6756TW:8040TW:8054Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
TW:4968 and its peers over the selected period
Show on chartTickerCompany NamePriceChange% Change
TW:4968Richwave Technology Corporation81.00-54.03-40.02%
TW:3694AzureWave Technologies, Inc.40.45-23.18-36.43%
TW:6104Genesys Logic, Inc.79.60-7.72-8.84%
TW:6756VIA Labs, Inc.124.0041.7050.68%
TW:8040IC Plus Corp.70.2020.4040.96%
TW:8054Alcor Micro Corp.65.70-68.24-50.95%
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