APCB Inc. (6108) AI Stock Analysis

APCB Inc.

(TWSE:6108)

Select Model

Rating:44.5Neutral

Price Target:TWD 26.00▼(-20.00% Downside)

Action:initiatedcoverage

Date:11/10/26

The score is driven primarily by very weak profitability and deteriorating cash generation. Mixed technical signals and a modest dividend provide limited support, while the exceptionally high P/E ratio remains a significant risk.

Positive Factors

Improved LeverageMeaningfully lower leverage gives APCB a more manageable balance-sheet profile and greater capacity to withstand operating volatility. De-risking can reduce financial strain and preserve flexibility for investment or restructuring as the company addresses its weaker profitability.

Negative Factors

Prolonged Revenue ContractionA four-year revenue decline indicates sustained pressure on APCB’s business scale rather than a single-period setback. Shrinking sales can reduce operating leverage, weaken customer or product momentum, and make it harder to spread fixed costs across the remaining revenue base.

APCB Inc. (6108) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 5.52B
Dividend Yield: 3.08%
Average Volume (3M): 4.14M
Price to Earnings (P/E): 180.5
Beta (1Y): 0.83
Revenue Growth: 22.89%
EPS Growth: ―
Country: TW
Employees: 718
Sector: General
Sector Strength: 55
Industry: Hardware, Equipment & Parts

APCB Inc. Business Overview & Revenue Model

Company Description

APCB Inc., established in 1981 and based in Taipei, Taiwan, is a global producer and supplier of multi-layer printed circuit boards (PCBs). The company primarily serves the consumer electronics industry, with its versatile product line supporting a w...

APCB Inc. Financial Statement Overview

Summary

Financial performance is very weak overall. Severe revenue decline, a $138.8 million net loss, negative margins, and deteriorating cash generation outweigh the relatively stable balance sheet and reduced debt-to-equity ratio.

Income Statement

20Very Negative

Balance Sheet

62Positive

Cash Flow

35Negative

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	4.61B	4.18B	5.10B	5.95B	6.95B	9.10B
Gross Profit	122.57M	181.15M	170.18M	580.80M	510.44M	1.26B
EBITDA	-301.78M	-189.34M	532.55M	582.65M	507.93M	813.17M
Net Income	31.39M	-138.76M	147.97M	54.31M	34.87M	240.41M
Balance Sheet
Total Assets	7.31B	6.55B	7.22B	8.90B	8.76B	9.33B
Cash, Cash Equivalents and Short-Term Investments	3.43B	3.54B	3.56B	4.42B	3.76B	2.42B
Total Debt	2.37B	2.12B	2.21B	4.11B	3.83B	3.98B
Total Liabilities	4.06B	3.25B	3.50B	5.34B	5.14B	5.75B
Stockholders Equity	3.24B	3.29B	3.72B	3.56B	3.62B	3.57B
Cash Flow
Free Cash Flow	-614.05M	37.33M	284.11M	-46.73M	1.49B	-189.60M
Operating Cash Flow	-377.16M	231.67M	504.23M	96.89M	1.67B	74.40M
Investing Cash Flow	-365.83M	497.26M	-11.49M	-122.43M	-159.64M	-250.94M
Financing Cash Flow	-327.45M	-282.23M	-1.60B	192.43M	-232.17M	-438.01M

APCB Inc. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:6108 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:4942	59Neutral	TWD 4.27B	10.31	―	6.67%	2.44%	13.09%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
TW:3290	54Neutral	TWD 4.14B	9.73	―	3.27%	68.19%	116.27%
TW:3236	45Neutral	TWD 4.25B	58.25	―	1.23%	21.97%	203.91%
TW:6108	45Neutral	TWD 5.02B	180.46	―	3.08%	22.89%	―
TW:6234	40Underperform	TWD 4.94B	51.87	―	0.51%	-0.22%	―
TW:6141	30Underperform	TWD 4.72B	-9.76	―	―	2.31%	14.67%

* General Sector Average

Performance Comparison

TW:6108 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:6108	APCB Inc.	32.50	19.24	145.17%
TW:3236	ABC Taiwan Electronics Corp.	40.50	14.95	58.48%
TW:3290	Donpon Precision Inc.	45.85	0.34	0.75%
TW:4942	Chia Chang Co., Ltd	30.00	-8.29	-21.65%
TW:6141	Plotech Co. Ltd.	41.65	30.15	262.17%
TW:6234	Tera Autotech Corporation	49.25	26.86	119.95%

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 10, 2026

APCB Inc. AI Stock Analysis