Atech OEM Inc. (6109) AI Stock Analysis

Atech OEM Inc.

(TPEx:6109)

Select Model

Rating:40Underperform

Price Target:TWD 8.50▼(-5.13% Downside)

Action:initiatedcoverage

Date:11/10/26

The score is primarily constrained by persistent losses and sharply negative cash flow. Weak technical momentum and an unfavorable earnings-based valuation further weigh on the result, while the relatively solid balance sheet and oversold technical readings provide only limited support.

Positive Factors

Revenue recovery and narrower lossesThe 2025 revenue rebound and materially narrower loss indicate an improving operating trajectory after a weaker period. If sustained, this gives the company a broader base from which to improve scale economics, although profitability has not yet been restored.

Negative Factors

Persistent unprofitabilityThe company remains loss-making despite improved revenue and a narrower net loss, while operating profitability is still negative. This weakens internal funding capacity, limits resilience during demand fluctuations, and makes sustained earnings improvement dependent on further margin recovery.

Atech OEM Inc. (6109) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 790.42M
Dividend Yield: ―
Average Volume (3M): 107.09K
Price to Earnings (P/E): -10.9
Beta (1Y): 0.55
Revenue Growth: 19.88%
EPS Growth: 48.32%
Country: TW
Employees: 482
Sector: General
Sector Strength: 55
Industry: Communication Equipment

Atech OEM Inc. Business Overview & Revenue Model

Company Description

Atech OEM Inc., headquartered in Taipei, Taiwan, was established in 1990. The company focuses on the comprehensive process of designing, developing, manufacturing, and marketing three primary categories of electronic products across Taiwan: magnetic...

Atech OEM Inc. Financial Statement Overview

Summary

Revenue and gross margin improved, and the balance sheet remains moderately capitalized, but continued net losses and sharply negative operating and free cash flow materially weaken financial performance.

Income Statement

35Negative

Balance Sheet

62Positive

Cash Flow

20Very Negative

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	845.24M	778.21M	717.48M	1.01B	1.32B	1.22B
Gross Profit	198.63M	169.49M	106.19M	273.32M	317.60M	200.81M
EBITDA	3.20M	-21.12M	-85.36M	66.56M	126.02M	-43.11M
Net Income	-61.02M	-63.29M	-111.73M	18.62M	66.63M	-82.36M
Balance Sheet
Total Assets	1.10B	1.10B	937.69M	1.11B	1.33B	1.19B
Cash, Cash Equivalents and Short-Term Investments	390.38M	427.42M	422.35M	448.54M	380.66M	239.93M
Total Debt	85.48M	265.45M	130.87M	157.77M	196.21M	288.53M
Total Liabilities	343.68M	519.49M	294.86M	352.47M	558.09M	647.82M
Stockholders Equity	752.75M	580.76M	643.45M	757.94M	771.58M	545.78M
Cash Flow
Free Cash Flow	-66.70M	-71.71M	1.64M	137.31M	96.83M	-202.13M
Operating Cash Flow	-49.21M	-58.53M	16.50M	153.45M	131.26M	-189.16M
Investing Cash Flow	-68.03M	-14.64M	-15.58M	-13.32M	-30.18M	24.60M
Financing Cash Flow	81.46M	74.14M	-46.56M	-63.24M	35.89M	57.85M

Atech OEM Inc. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:6109 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
TW:2380	42Neutral	TWD 822.31M	-2.42	―	―	24.06%	57.68%
TW:6109	40Underperform	TWD 800.09M	-10.86	―	―	19.88%	48.32%
TW:3272	39Underperform	TWD 691.22M	-1.27	―	―	-11.96%	-68.38%
TW:6160	39Underperform	TWD 835.57M	-6.45	―	―	-21.57%	-273.84%
TW:3057	33Underperform	TWD 834.73M	-8.11	―	―	0.03%	9.46%
TW:3494	30Underperform	TWD 663.60M	-3.86	―	―	2.94%	-31.91%

* General Sector Average

Performance Comparison

TW:6109 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:6109	Atech OEM Inc.	8.96	-3.02	-25.23%
TW:2380	Avision Inc.	13.60	-3.65	-21.14%
TW:3057	Promise Technology, Inc.	12.35	-3.80	-23.53%
TW:3272	Good Way Technology Co., Ltd.	11.00	-9.55	-46.47%
TW:3494	HiTi Digital Inc.	6.94	-2.53	-26.72%
TW:6160	CipherLab Co., Ltd.	11.95	-6.95	-36.77%

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

Atech OEM Inc. AI Stock Analysis