Topco Scientific Co., Ltd. (5434) AI Stock Analysis

Topco Scientific Co., Ltd.

(TWSE:5434)

Select Model

Rating:74Outperform

Price Target:TWD 512.00▲(1.79% Upside)

Action:initiatedcoverage

Date:11/10/26

The score is supported primarily by strong financial performance and a favorable valuation. Technical weakness, including negative MACD and trading below most moving averages, materially reduces the score despite oversold momentum readings.

Positive Factors

Revenue and Profit GrowthImproving revenue, net income, and margins indicate stronger operating performance and expanding earnings capacity. If maintained, this combination can support reinvestment, strengthen the company’s position in its markets, and provide a durable foundation for growth over the next several quarters.

Negative Factors

Historically Volatile Cash FlowAlthough current cash generation is healthy, the earlier weakness shows that cash conversion has not been consistently dependable across cycles. Such volatility can complicate investment planning, reduce confidence in recurring liquidity, and limit the company’s ability to absorb an operating slowdown.

Topco Scientific Co., Ltd. (5434) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 99.53B
Dividend Yield: 2.67%
Average Volume (3M): 749.93K
Price to Earnings (P/E): 16.2
Beta (1Y): 0.93
Revenue Growth: 21.35%
EPS Growth: 55.48%
Country: TW
Employees: 1,604
Sector: General
Sector Strength: 55
Industry: Semiconductors

Topco Scientific Co., Ltd. Business Overview & Revenue Model

Company Description

Topco Scientific Co., Ltd., established in 1990 and headquartered in Taipei, Taiwan, operates as a key supplier to the global technology sector. The company specializes in delivering high-precision materials, advanced processing equipment, and essent...

Topco Scientific Co., Ltd. Financial Statement Overview

Summary

Strong profitability, low leverage, high return on equity, and improving free cash flow support the score. Moderating revenue growth and weaker operating cash-flow coverage are the main limitations.

Income Statement

86Very Positive

Balance Sheet

88Very Positive

Cash Flow

78Positive

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	80.33B	67.58B	57.00B	49.27B	52.98B	42.67B
Gross Profit	10.52B	8.35B	7.72B	6.42B	6.53B	5.21B
EBITDA	6.28B	4.94B	4.71B	3.68B	4.53B	3.03B
Net Income	6.10B	4.18B	3.66B	2.84B	3.02B	2.29B
Balance Sheet
Total Assets	51.71B	41.87B	37.27B	31.64B	29.88B	25.17B
Cash, Cash Equivalents and Short-Term Investments	8.49B	7.30B	5.75B	6.92B	5.65B	5.17B
Total Debt	5.15B	4.28B	4.40B	5.15B	2.68B	2.77B
Total Liabilities	27.65B	21.66B	19.27B	16.29B	16.61B	13.30B
Stockholders Equity	23.74B	20.00B	17.77B	15.11B	12.96B	11.60B
Cash Flow
Free Cash Flow	4.20B	3.92B	844.06M	81.37M	2.79B	2.18B
Operating Cash Flow	5.01B	5.08B	5.23B	1.62B	3.18B	2.60B
Investing Cash Flow	-817.12M	-1.01B	-4.30B	-2.00B	-875.38M	-948.99M
Financing Cash Flow	-1.55B	-2.44B	-2.40B	1.49B	-1.84B	-1.24B

Topco Scientific Co., Ltd. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:5434 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:5434	74Outperform	TWD 97.59B	16.18	―	2.67%	21.35%	55.48%
TW:6187	69Neutral	TWD 98.80B	52.55	―	1.14%	0.81%	12.66%
TW:2467	66Neutral	TWD 50.73B	25.46	―	1.74%	71.68%	144.03%
TW:3131	66Neutral	TWD 49.68B	28.86	―	2.70%	37.72%	73.19%
TW:3583	59Neutral	TWD 40.40B	28.85	―	2.41%	7.90%	44.45%
TW:6196	59Neutral	TWD 92.54B	19.31	―	1.54%	86.15%	58.05%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%

* General Sector Average

Performance Comparison

TW:5434 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:5434	Topco Scientific Co., Ltd.	503.00	199.02	65.47%
TW:2467	C Sun Mfg. Ltd.	315.50	141.16	80.96%
TW:3131	Grand Process Technology Corporation	1705.00	325.39	23.59%
TW:3583	Scientech Corporation	486.50	164.99	51.32%
TW:6187	All Ring Tech Co., Ltd.	1025.00	691.24	207.11%
TW:6196	Marketech International Corp.	420.00	177.92	73.50%

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 10, 2026

Topco Scientific Co., Ltd. AI Stock Analysis