Wanshih Electronic Co., Ltd AI Stock Analysis
Wanshih Electronic Co., Ltd (6134) AI Stock Analysis
Wanshih Electronic Co., Ltd
(TPEx:6134)
Wanshih Electronic scores poorly overall. The dominant concern is financial quality: despite record revenue and improved gross margins, profits are razor-thin (0.5% net margin, sub-1% ROE) and both operating and free cash flow remain negative, forcing the company to fund expansion from its balance sheet. A moderately leveraged, adequately capitalised balance sheet is the main offsetting strength. Technicals compound the caution, with the price trading well below all major moving averages and a negative MACD confirming a broad downtrend, though extremely oversold RSI and Stochastic readings raise the possibility of a near-term bounce. Valuation offers little cushion, as a 27x P/E is hard to justify on current earnings power and the ~1% dividend yield provides limited support. A re-rating would require clear evidence of operating leverage and a swing to positive cash generation.
Wanshih Electronic Co., Ltd (6134) vs. SPDR S&P 500 ETF (SPY)
- Market Cap
- TWD 1.96B
- Dividend Yield
- 0.92%
- Average Volume (3M)
- 222.40K
- Price to Earnings (P/E)
- 29.3
- Beta (1Y)
- 1.39
- Revenue Growth
- 37.45%
- EPS Growth
- ―
- Country
- TW
- Employees
- 822
- Sector
- General
- Sector Strength
- 55
- Industry
- Technology Distributors
Wanshih Electronic Co., Ltd Business Overview & Revenue Model
Company Description
Established in 1987 and headquartered in New Taipei City, Taiwan, Wanshih Electronic Co., Ltd. is a global producer and distributor of electronic components, computer hardware, and associated peripheral products. The company operates as an OEM/ODM su...
Wanshih Electronic Co., Ltd Financial Statement Overview
Summary
Wanshih is mid-turnaround: revenue hit a multi-year high of NT$1.91bn (+22%) with gross margins up to the 23-26% range, and the company has been profitable for two consecutive years after three loss-making years. The balance sheet is the strongest pillar, with equity funding ~45% of assets and debt at a moderate 0.31x equity. However, earnings quality is poor — net margin of just 0.5%, sub-1% return on equity, and wafer-thin EBIT of NT$13.7m. Most critically, cash flow remains negative, with operating cash flow of -NT$15.9m and free cash flow of -NT$98.6m in 2025, meaning growth is still being funded by the balance sheet rather than the business itself.
Income Statement
46NeutralBalance Sheet
58NeutralCash Flow
24Negative| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.31B | 1.91B | 1.56B | 1.12B | 1.45B | 1.67B |
| Gross Profit | 514.26M | 449.76M | 384.22M | 287.01M | 244.02M | 271.72M |
| EBITDA | 160.79M | 91.94M | 97.42M | 36.28M | 22.21M | 55.74M |
| Net Income | 62.92M | 9.47M | 17.55M | -48.77M | -66.11M | -39.03M |
Balance Sheet | ||||||
| Total Assets | 2.73B | 2.23B | 1.80B | 1.48B | 1.72B | 1.74B |
| Cash, Cash Equivalents and Short-Term Investments | 298.20M | 252.14M | 414.44M | 368.67M | 319.46M | 314.10M |
| Total Debt | 253.66M | 308.67M | 248.95M | 321.22M | 497.34M | 308.17M |
| Total Liabilities | 1.44B | 1.15B | 688.43M | 590.60M | 860.36M | 746.29M |
| Stockholders Equity | 1.22B | 1.01B | 947.78M | 727.72M | 742.38M | 892.92M |
Cash Flow | ||||||
| Free Cash Flow | -81.34M | -98.60M | -123.84M | 112.73M | -88.04M | -47.02M |
| Operating Cash Flow | 32.63M | -15.91M | -90.22M | 146.81M | 19.00K | 47.17M |
| Investing Cash Flow | -17.82M | -66.75M | -28.71M | 43.37M | -245.84M | -56.78M |
| Financing Cash Flow | -60.58M | -53.34M | 102.48M | -152.44M | 191.80M | -12.04M |
Wanshih Electronic Co., Ltd Peers Comparison
Overall Rating
TW:618561Neutral
TW:643245Neutral- TW:613443Neutral
TW:244037Underperform
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| TW:6185 | 61Neutral | TWD 1.72B | -73.48 | ― | 3.44% | 32.52% | -171.96% |
| Sector * | 55Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
| TW:6432 | 45Neutral | TWD 1.82B | 18.26 | ― | 2.19% | 6.40% | 271.08% |
| TW:6134 | 43Neutral | TWD 1.74B | 29.31 | ― | 0.92% | 37.45% | ― |
| TW:2440 | 37Underperform | TWD 1.93B | 104.68 | ― | ― | 2.38% | ― |
* General Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| TW:6134 | Wanshih Electronic Co., Ltd | 21.75 | -1.02 | -4.50% | |
| TW:2249 | Young Shine Electric Co., Ltd. | 56.40 | -16.29 | -22.42% | |
| TW:2440 | Space Shuttle Hi-Tech Co. Ltd. | 14.10 | 1.50 | 11.90% | |
| TW:6185 | Plastron Presicion Co., Ltd. | 11.40 | -3.77 | -24.84% | |
| TW:6272 | Wieson Technologies Co., Ltd. | 19.40 | -37.92 | -66.16% | |
| TW:6432 | Arlitech Electronic Corp | 45.70 | 10.75 | 30.74% |
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