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Fullerton Technology Co., Ltd. (6136) AI Stock Analysis

TW:6136

Fullerton Technology Co., Ltd.

(TWSE:6136)

Select Model
Rating:71Outperform
Price Target:TWD 29.00â–²(14.40% Upside)
Action:initiatedcoverage
Date:11/09/26

Robust financial performance from low leverage and strong cash conversion is the primary positive driver, while neutral technical indicators and elevated P/E provide a modest offset.

Positive Factors
Low LeverageVery low leverage gives Fullerton Technology meaningful financial flexibility and lowers solvency risk. A conservative capital structure can help the company withstand operating volatility, preserve borrowing capacity, and continue funding strategic needs without excessive interest or refinancing pressure.
Negative Factors
Operating Profitability DeteriorationThe sharp deterioration in operating profitability is the most important fundamental weakness. Negative operating margin and minimal EBITDA leave limited protection against further cost pressure, reduce the earnings contribution from core operations, and make sustainable profit recovery dependent on reversing the underlying operating strain.

Fullerton Technology Co., Ltd. (6136) vs. SPDR S&P 500 ETF (SPY)

-10%-5%0%5%10%15%20%25%TW:6136+12.12%SPY+14.28%Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
Market Cap
TWD 2.93B
Dividend Yield
4.58%
Average Volume (3M)
274.63K
Price to Earnings (P/E)
34.5
Beta (1Y)
0.25
Revenue Growth
22.95%
EPS Growth
-41.61%
Country
TW
Employees
4,374
Sector
General
Sector Strength
55
Industry
Telecommunications Services

Fullerton Technology Co., Ltd. Business Overview & Revenue Model

Company Description

Fullerton Technology Co., Ltd. engages in the provision of communication services in Taiwan. The company offers ezBooking, a platform providing movie ticket booking and online e-ticket services; SaaS software online service e-commerce platform; and p...

Fullerton Technology Co., Ltd. Financial Statement Overview

Summary

Strong balance sheet with debt-to-equity of 0.06 and robust free cash flow of 199 million provide stability, offsetting revenue fluctuations and negative EBIT in the income statement.

Income Statement

62Positive

Balance Sheet

89Very Positive

Cash Flow

84Very Positive
Financial statement breakdown
BreakdownTTMDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue681.34M639.46M492.53M506.23M499.93M601.49M
Gross Profit176.35M164.18M104.26M96.76M75.41M90.25M
EBITDA109.28M4.67M110.74M111.36M104.35M151.40M
Net Income85.36M103.36M103.50M103.66M96.00M142.42M
Balance Sheet
Total Assets5.00B3.69B3.64B3.96B2.99B3.15B
Cash, Cash Equivalents and Short-Term Investments594.41M655.50M523.38M476.34M426.08M577.89M
Total Debt84.05M202.01M15.51M10.15M11.33M12.58M
Total Liabilities408.00M425.54M131.69M103.68M110.73M108.65M
Stockholders Equity4.50B3.18B3.49B3.84B2.85B3.02B
Cash Flow
Free Cash Flow103.44M198.67M124.01M121.60M123.08M41.66M
Operating Cash Flow107.24M204.20M127.31M127.73M129.20M47.98M
Investing Cash Flow69.50M-87.61M73.83M41.06M-127.51M-395.00K
Financing Cash Flow-122.72M-6.23M-141.54M-134.91M-145.32M-152.74M

Fullerton Technology Co., Ltd. Peers Comparison

Overall Rating

UnderperformOutperform
Sector (55)

Financial Indicators

TW:6136 against its peers
NameOverall RatingMarket CapP/E RatioROEDividend YieldRevenue GrowthEPS Growth
TW:2364TW:236474OutperformTWD 2.89B9.13―3.83%17.40%60.67%
TW:6136TW:613671OutperformTWD 2.95B34.55―4.58%22.95%-41.61%
Sector *55Neutral$6.65B3.83-15.92%6.20%10.91%7.18%
TW:6150TW:615048NeutralTWD 3.38B20.29―0.78%3.74%―
TW:6152TW:615248NeutralTWD 2.94B-107.35――42.75%―
TW:3564TW:356443NeutralTWD 3.11B84.03―0.47%22.54%-10.60%
TW:3047TW:304741NeutralTWD 2.99B-15.27―2.23%-32.95%-101.63%

* General Sector Average

Performance Comparison

0%50%100%TW:6136TW:2364TW:3047TW:3564TW:6150TW:6152Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
TW:6136 and its peers over the selected period
Show on chartTickerCompany NamePriceChange% Change
TW:6136Fullerton Technology Co., Ltd.25.352.8912.84%
TW:2364Twinhead International Corp.52.20-8.89-14.56%
TW:3047Edimax Technology Co., Ltd.13.90-4.95-26.26%
TW:3564AEWIN Technologies Co., Ltd.57.809.9420.77%
TW:6150Tul Corporation77.005.998.44%
TW:6152Prime Electronics & Satellitics Inc.18.509.51105.78%
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