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Sunplus Innovation Technology Inc. (5236) AI Stock Analysis

TW:5236

Sunplus Innovation Technology Inc.

(TWSE:5236)

Select Model
Rating:81Outperform
Price Target:TWD 128.00â–²(16.89% Upside)
Action:initiatedcoverage
Date:11/10/26

The score is primarily supported by exceptional financial strength, high profitability, strong cash generation, and attractive valuation. Technical weakness, including a bearish moving-average structure and negative MACD, is the main constraint despite oversold momentum readings.

Positive Factors
High profitabilityPersistently high gross, operating, and net margins indicate strong pricing power and disciplined cost control across the reported period. This profitability provides internal funding for product development and helps the company remain resilient when semiconductor demand weakens.
Negative Factors
Cyclical revenueThe pronounced swings in revenue show meaningful exposure to semiconductor and electronics demand cycles, making growth less predictable. Recent negative revenue growth reinforces the risk that earnings momentum may remain uneven and limits confidence in a consistently expanding top line.

Sunplus Innovation Technology Inc. (5236) vs. SPDR S&P 500 ETF (SPY)

-20%-10%0%10%20%30%40%50%TW:5236-8.55%SPY+14.30%Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
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

Very strong financial quality, led by an exceptional balance sheet, high margins, and strong cash generation. Inconsistent revenue and free cash flow growth, along with modest margin pressure, limit the score.

Income Statement

85Very Positive

Balance Sheet

97Very Positive

Cash Flow

88Very Positive
Financial statement breakdown
BreakdownTTMDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue2.08B2.00B1.82B1.65B1.54B2.29B
Gross Profit1.22B1.16B1.09B1.02B944.41M1.44B
EBITDA677.35M622.25M585.09M521.51M479.14M797.59M
Net Income571.88M515.18M482.07M427.79M373.32M635.44M
Balance Sheet
Total Assets3.37B3.12B3.08B2.95B2.92B3.29B
Cash, Cash Equivalents and Short-Term Investments2.61B2.55B2.49B2.44B2.29B2.66B
Total Debt15.28M16.68M22.22M182.00K6.12M11.96M
Total Liabilities1.07B460.66M486.25M423.24M442.54M708.39M
Stockholders Equity2.30B2.66B2.60B2.53B2.48B2.58B
Cash Flow
Free Cash Flow560.61M537.17M450.20M530.94M197.21M832.97M
Operating Cash Flow566.03M544.78M466.53M559.72M206.62M839.03M
Investing Cash Flow-33.22M-112.06M122.85M-257.59M673.42M-585.95M
Financing Cash Flow-457.61M-457.57M-414.53M-415.53M-585.03M535.53M

Sunplus Innovation Technology Inc. Peers Comparison

Overall Rating

UnderperformOutperform
Sector (55)

Financial Indicators

TW:5236 against its peers
NameOverall RatingMarket CapP/E RatioROEDividend YieldRevenue GrowthEPS Growth
TW:5236TW:523681OutperformTWD 6.41B11.56―8.22%4.83%22.01%
TW:6104TW:610470OutperformTWD 7.32B16.72―5.65%2.68%-23.15%
Sector *55Neutral$6.65B3.83-15.92%6.20%10.91%7.18%
TW:4968TW:496854NeutralTWD 7.40B30.60―1.98%3.36%24.69%
TW:6756TW:675651NeutralTWD 8.19B54.09―0.73%28.20%117.74%
TW:5471TW:547143NeutralTWD 7.05B21.97―1.88%20.43%170.91%
TW:8054TW:805439UnderperformTWD 7.00B-73.04――109.58%74.96%

* General Sector Average

Performance Comparison

-50%0%50%TW:5236TW:4968TW:5471TW:6104TW:6756TW:8054Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
TW:5236 and its peers over the selected period
Show on chartTickerCompany NamePriceChange% Change
TW:5236Sunplus Innovation Technology Inc.109.50-13.08-10.67%
TW:4968Richwave Technology Corporation81.00-54.03-40.02%
TW:5471Sonix Technology Co., Ltd.42.458.1323.68%
TW:6104Genesys Logic, Inc.79.60-7.72-8.84%
TW:6756VIA Labs, Inc.124.0041.7050.68%
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