Sunplus Innovation Technology Inc. AI Stock Analysis
Sunplus Innovation Technology Inc. (5236) AI Stock Analysis
Sunplus Innovation Technology Inc.
(TWSE:5236)
Sunplus scores well on fundamentals: growing revenue, high and stable margins, a virtually debt-free balance sheet, and free cash flow that nearly matches earnings with minimal reinvestment needs. Valuation adds further support, with a sub-12x P/E and a roughly 8.1% dividend yield backed by strong cash generation. The main drag is price action — the stock sits well below all major moving averages with negative MACD momentum, and while the RSI near 28 points to oversold conditions, the downtrend has yet to show evidence of reversal. Gradual gross margin erosion and the sector's cyclicality are additional watch items, though the fortress balance sheet offers meaningful downside protection.
Sunplus Innovation Technology Inc. (5236) vs. SPDR S&P 500 ETF (SPY)
- Market Cap
- TWD 6.69B
- Dividend Yield
- 8.22%
- Average Volume (3M)
- 104.63K
- Price to Earnings (P/E)
- 11.6
- Beta (1Y)
- 0.91
- Revenue Growth
- 4.83%
- EPS Growth
- 22.01%
- Country
- TW
- Employees
- 144
- Sector
- General
- Sector Strength
- 55
- Industry
- Semiconductors
Sunplus Innovation Technology Inc. Business Overview & Revenue Model
Company Description
Sunplus Innovation Technology, Inc. develops, manufactures and markets microcontrollers and system-on-chips with embedded software solutions. It manufactures integrated circuits with turn-key solutions for optical mice, laser mice, web camera, NB cam...
Sunplus Innovation Technology Inc. Financial Statement Overview
Summary
Sunplus combines double-digit revenue growth (to roughly NT$2.0 billion) with best-in-class margins (about 58% gross, 26% net) and a near debt-free balance sheet, where equity funds about 85% of assets. Cash conversion is excellent, with operating cash flow exceeding net income by roughly 26% and almost all of it converting to free cash flow given minimal capital spending. Offsetting factors are gradual gross margin compression since 2021 (from about 63%) and proven cyclicality, as seen in the 33% revenue drop and weak cash conversion in 2022.
Income Statement
80PositiveBalance Sheet
92Very PositiveCash Flow
85Very Positive| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.08B | 2.00B | 1.82B | 1.65B | 1.54B | 2.29B |
| Gross Profit | 1.22B | 1.16B | 1.09B | 1.02B | 944.41M | 1.44B |
| EBITDA | 677.35M | 622.25M | 585.09M | 521.51M | 479.14M | 797.59M |
| Net Income | 571.88M | 515.18M | 482.07M | 427.79M | 373.32M | 635.44M |
Balance Sheet | ||||||
| Total Assets | 3.37B | 3.12B | 3.08B | 2.95B | 2.92B | 3.29B |
| Cash, Cash Equivalents and Short-Term Investments | 2.61B | 2.55B | 2.49B | 2.44B | 2.29B | 2.66B |
| Total Debt | 15.28M | 16.68M | 22.22M | 182.00K | 6.12M | 11.96M |
| Total Liabilities | 1.07B | 460.66M | 486.25M | 423.24M | 442.54M | 708.39M |
| Stockholders Equity | 2.30B | 2.66B | 2.60B | 2.53B | 2.48B | 2.58B |
Cash Flow | ||||||
| Free Cash Flow | 560.61M | 537.17M | 450.20M | 530.94M | 197.21M | 832.97M |
| Operating Cash Flow | 566.03M | 544.78M | 466.53M | 559.72M | 206.62M | 839.03M |
| Investing Cash Flow | -33.22M | -112.06M | 122.85M | -257.59M | 673.42M | -585.95M |
| Financing Cash Flow | -457.61M | -457.57M | -414.53M | -415.53M | -585.03M | 535.53M |
Sunplus Innovation Technology Inc. Peers Comparison
Overall Rating
- TW:523675Outperform
TW:610470Outperform
TW:496854Neutral
TW:675651Neutral
TW:547143Neutral
TW:805439Underperform
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| TW:5236 | 75Outperform | TWD 6.41B | 11.56 | ― | 8.22% | 4.83% | 22.01% |
| TW:6104 | 70Outperform | TWD 7.32B | 16.72 | ― | 5.65% | 2.68% | -23.15% |
| Sector * | 55Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
| TW:4968 | 54Neutral | TWD 7.40B | 30.60 | ― | 1.98% | 3.36% | 24.69% |
| TW:6756 | 51Neutral | TWD 8.19B | 54.09 | ― | 0.73% | 28.20% | 117.74% |
| TW:5471 | 43Neutral | TWD 7.05B | 21.97 | ― | 1.88% | 20.43% | 170.91% |
| TW:8054 | 39Underperform | TWD 7.00B | -73.04 | ― | ― | 109.58% | 74.96% |
* General Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| TW:5236 | Sunplus Innovation Technology Inc. | 109.50 | -15.46 | -12.37% | |
| TW:4968 | Richwave Technology Corporation | 81.00 | -61.92 | -43.32% | |
| TW:5471 | Sonix Technology Co., Ltd. | 42.45 | 7.09 | 20.05% | |
| TW:6104 | Genesys Logic, Inc. | 79.60 | -12.19 | -13.28% | |
| TW:6756 | VIA Labs, Inc. | 124.00 | 34.79 | 39.00% | |
| TW:8054 | Alcor Micro Corp. | 65.70 | -69.74 | -51.49% |
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