Te Chang Construction Co., Ltd. AI Stock Analysis
Te Chang Construction Co., Ltd. (5511) AI Stock Analysis
Te Chang Construction Co., Ltd.
(TPEx:5511)
The score is driven primarily by improving fundamentals — record revenue, expanding margins, sharply reduced leverage and free cash flow that nearly matches reported profits — paired with an unusually cheap valuation at roughly 5x earnings and a 5.4% dividend yield. The main drag is near-term technical weakness, with the share price below its 20-, 50- and 100-day averages and a negative MACD, though the stock still holds above its 200-day average and the low RSI suggests the pullback is already extended. Investors should keep in mind the cyclicality of construction earnings and cash flows, which have swung sharply in past years.
Te Chang Construction Co., Ltd. (5511) vs. SPDR S&P 500 ETF (SPY)
- Market Cap
- TWD 9.34B
- Dividend Yield
- 5.22%
- Average Volume (3M)
- 131.39K
- Price to Earnings (P/E)
- 5.4
- Beta (1Y)
- 0.22
- Revenue Growth
- 15.89%
- EPS Growth
- 75.28%
- Country
- TW
- Employees
- 120
- Sector
- General
- Sector Strength
- 55
- Industry
- Engineering & Construction
Te Chang Construction Co., Ltd. Business Overview & Revenue Model
Company Description
Operating across Taiwan and Thailand, Te Chang Construction Co., Ltd. specializes in construction contracting and civil engineering projects. Its extensive portfolio encompasses a broad spectrum of developments, including public infrastructure, healt...
Te Chang Construction Co., Ltd. Financial Statement Overview
Summary
Te Chang Construction is in its strongest financial shape in five years. Revenue reached a record NT$11.1 billion (+18% after a softer 2024), with margins expanding across the board — gross margin to 17.6%, operating margin to 13.2% and net margin to 10.9% — lifting net income to NT$1.21 billion. The balance sheet is solid, with debt-to-equity cut to about 0.27 from 0.54, equity at roughly 48% of assets and ROE improving to 17.5%. Cash flow is the standout: operating cash flow more than doubled to NT$2.65 billion and free cash flow of NT$2.54 billion covers about 96% of net income on minimal capex. Offsetting these strengths are sector cyclicality (the 2024 revenue decline and negative 2021 operating cash flow) and structurally modest absolute margins.
Income Statement
81Very PositiveBalance Sheet
78PositiveCash Flow
80Positive| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 11.80B | 11.08B | 9.40B | 10.46B | 8.48B | 6.16B |
| Gross Profit | 2.28B | 1.95B | 1.41B | 1.73B | 1.15B | 842.68M |
| EBITDA | 1.89B | 1.54B | 1.14B | 1.51B | 828.38M | 660.67M |
| Net Income | 1.62B | 1.21B | 852.86M | 1.15B | 542.19M | 470.69M |
Balance Sheet | ||||||
| Total Assets | 16.63B | 14.40B | 12.64B | 13.41B | 12.94B | 12.36B |
| Cash, Cash Equivalents and Short-Term Investments | 7.43B | 5.21B | 3.65B | 4.57B | 5.47B | 5.62B |
| Total Debt | 1.89B | 1.83B | 2.11B | 3.09B | 2.66B | 2.46B |
| Total Liabilities | 9.28B | 7.39B | 6.46B | 7.54B | 7.92B | 7.68B |
| Stockholders Equity | 7.23B | 6.89B | 6.11B | 5.80B | 4.92B | 4.59B |
Cash Flow | ||||||
| Free Cash Flow | 3.86B | 2.54B | 1.05B | 839.79M | 406.15M | -111.43M |
| Operating Cash Flow | 3.99B | 2.65B | 1.12B | 925.43M | 524.14M | -77.01M |
| Investing Cash Flow | -61.31M | -94.21M | -460.40M | -206.75M | 41.64M | -182.06M |
| Financing Cash Flow | -533.55M | -742.95M | -1.53B | -52.87M | -164.20M | 627.52M |
Te Chang Construction Co., Ltd. Peers Comparison
Overall Rating
TW:551577Outperform- TW:551175Outperform
TW:252863Neutral
TW:550856Neutral
TW:252747Neutral
TW:254745Neutral
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| TW:5515 | 77Outperform | TWD 9.49B | 4.76 | ― | 6.90% | 17.87% | 298.44% |
| TW:5511 | 75Outperform | TWD 9.30B | 5.37 | ― | 5.22% | 15.89% | 75.28% |
| TW:2528 | 63Neutral | TWD 8.68B | 10.46 | ― | 7.74% | -69.18% | -72.70% |
| TW:5508 | 56Neutral | TWD 10.60B | 12.29 | ― | 5.67% | 35.18% | 9.47% |
| Sector * | 55Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
| TW:2527 | 47Neutral | TWD 11.22B | 6.95 | ― | 3.53% | -13.36% | 48.38% |
| TW:2547 | 45Neutral | TWD 9.64B | 86.39 | ― | 8.46% | 46.09% | -87.69% |
* General Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| TW:5511 | Te Chang Construction Co., Ltd. | 69.00 | 17.31 | 33.49% | |
| TW:2527 | Hung Ching Development & Construction Co. Ltd | 42.55 | 17.48 | 69.70% | |
| TW:2528 | Crowell Development Corp. | 16.85 | -7.95 | -32.05% | |
| TW:2547 | Radium Life Tech Co., Ltd. | 9.46 | -0.79 | -7.73% | |
| TW:5508 | Yungshin Construction & Development Co., Ltd. | 48.95 | -20.73 | -29.75% | |
| TW:5515 | Chien Kuo Construction Co., Ltd | 47.85 | 22.72 | 90.40% |
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