GCS Holdings, Inc. AI Stock Analysis
GCS Holdings, Inc. (4991) AI Stock Analysis
GCS Holdings, Inc.
(TPEx:4991)
GCS Holdings scores in the lower-middle range. Its greatest strength is financial resilience: minimal leverage, an equity-funded balance sheet and solid free cash flow of NT$336m provide a durable foundation, supported by three years of revenue growth and sharp gross margin expansion that delivered a return to profitability. However, net margins of just 0.8% and negligible returns on equity mean the recovery remains early-stage and unproven after several years of heavy losses. Offsetting the financial improvement are a sharply negative technical trend — the stock sits well below all major moving averages with deeply negative MACD — and a demanding P/E of 70.8 with no dividend. The result is a company with low balance-sheet risk but meaningful execution and valuation risk, compounded by high beta volatility.
GCS Holdings, Inc. (4991) vs. SPDR S&P 500 ETF (SPY)
- Market Cap
- TWD 43.38B
- Dividend Yield
- ―
- Average Volume (3M)
- 4.23M
- Price to Earnings (P/E)
- 81.5
- Beta (1Y)
- 1.86
- Revenue Growth
- 52.19%
- EPS Growth
- ―
- Country
- TW
- Employees
- 361
- Sector
- General
- Sector Strength
- 55
- Industry
- Semiconductors
GCS Holdings, Inc. Business Overview & Revenue Model
Company Description
GCS Holdings, Inc., together with its subsidiaries, manufactures and sells compound semiconductor wafer and foundry related services in China, the United States, Taiwan, and internationally. It also researches, develops, manufactures, and sells optoe...
GCS Holdings, Inc. Financial Statement Overview
Summary
GCS Holdings combines a fortress balance sheet with an early, still-fragile earnings recovery. Debt-to-equity of just 0.07 and an 84% equity-funded asset base (Balance Sheet: 76) leave the company well insulated against semiconductor cycles, while operating cash flow of NT$396m and free cash flow of NT$336m (Cash Flow: 71) show genuine cash-generating ability masked by heavy non-cash charges. The weak link is the income statement (50): although revenue grew from NT$1.35bn to NT$2.20bn over three years and gross margin expanded from 17.6% to 47.1%, net income of NT$17.5m equates to a razor-thin 0.8% net margin and 0.5% return on equity, following years of heavy losses. The turnaround is promising but unproven.
Income Statement
50NeutralBalance Sheet
76PositiveCash Flow
71Positive| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.72B | 2.20B | 1.75B | 1.35B | 1.33B | 1.24B |
| Gross Profit | 1.35B | 1.03B | 663.01M | 237.26M | 314.93M | 345.06M |
| EBITDA | 541.56M | 155.74M | -78.42M | -646.01M | -74.51M | 197.19M |
| Net Income | 388.44M | 17.47M | -236.99M | -792.24M | -939.72M | -378.50M |
Balance Sheet | ||||||
| Total Assets | 5.11B | 3.85B | 3.51B | 3.59B | 4.52B | 4.90B |
| Cash, Cash Equivalents and Short-Term Investments | 2.23B | 1.21B | 576.52M | 345.23M | 442.20M | 1.84B |
| Total Debt | 216.70M | 233.58M | 196.16M | 364.56M | 416.63M | 222.36M |
| Total Liabilities | 649.98M | 601.43M | 484.33M | 605.73M | 816.19M | 402.75M |
| Stockholders Equity | 4.45B | 3.24B | 3.02B | 2.98B | 3.70B | 4.50B |
Cash Flow | ||||||
| Free Cash Flow | 632.03M | 335.58M | -25.62M | -167.19M | -301.61M | 82.28M |
| Operating Cash Flow | 870.12M | 396.12M | 443.97M | -66.90M | -67.23M | 215.76M |
| Investing Cash Flow | -227.84M | 146.60M | -67.34M | 21.63M | -1.58B | -453.93M |
| Financing Cash Flow | 823.71M | 107.11M | -158.53M | -52.78M | 143.64M | 973.14M |
GCS Holdings, Inc. Peers Comparison
Overall Rating
TW:813165Neutral
TW:232956Neutral
TW:248156Neutral- TW:499154Neutral
TW:371448Neutral
TW:301644Neutral
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| TW:8131 | 65Neutral | TWD 23.84B | 13.86 | ― | 1.81% | 37.20% | 416.69% |
| TW:2329 | 56Neutral | TWD 24.47B | 14.68 | ― | 2.70% | 10.61% | 51.02% |
| TW:2481 | 56Neutral | TWD 46.72B | 26.87 | ― | 1.43% | 18.24% | 72.28% |
| Sector * | 55Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
| TW:4991 | 54Neutral | TWD 42.26B | 81.53 | ― | ― | 52.19% | ― |
| TW:3714 | 48Neutral | TWD 38.16B | -138.29 | ― | 5.97% | 4.37% | ― |
| TW:3016 | 44Neutral | TWD 34.46B | 63.70 | ― | 0.40% | 29.78% | 22824.42% |
* General Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| TW:4991 | GCS Holdings, Inc. | 357.00 | 191.17 | 115.28% | |
| TW:2329 | Orient Semiconductor Electronics, Limited | 37.00 | -14.90 | -28.70% | |
| TW:2481 | Pan Jit International Inc. | 125.50 | 42.91 | 51.96% | |
| TW:3016 | Episil-Precision, Inc. | 125.00 | 72.69 | 138.95% | |
| TW:3714 | Ennostar Inc. | 96.15 | 39.16 | 68.71% | |
| TW:8131 | Formosa Advanced Technologies Co., Ltd. | 55.40 | 7.74 | 16.25% |
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