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Sporton International Inc. (6146) AI Stock Analysis

TW:6146

Sporton International Inc.

(TPEx:6146)

Select Model
Rating:69Neutral
Price Target:TWD 189.00â–²(7.08% Upside)
Action:initiatedcoverage
Date:11/09/26

Sporton earns a solid mid-to-upper score driven primarily by its financial strength: an essentially debt-free balance sheet, best-in-class testing margins and reliable free cash flow generation. Valuation adds further support, with a modest 14.8x P/E and a standout ~10% dividend yield backed by cash flow. The score is held back by two issues — a three-year slide in revenue, margins and return on equity that signals weak lab utilization and pricing pressure, and a clearly negative technical setup, with the price trading below all major moving averages and momentum indicators deeply depressed. A re-acceleration in testing demand would be the key catalyst for a higher rating.

Positive Factors
Conservative Balance SheetVery low and improving leverage gives Sporton substantial financial resilience through changing demand conditions. A growing equity base reduces balance-sheet risk, preserves borrowing capacity, and supports continued investment or shareholder distributions without excessive financing pressure.
Negative Factors
Revenue ContractionRevenue declines over multiple consecutive years indicate that recent business expansion has lost momentum rather than reflecting a single quarterly fluctuation. Prolonged top-line weakness can limit operating leverage, reduce investment capacity, and make future margin recovery more difficult.

Sporton International Inc. (6146) vs. SPDR S&P 500 ETF (SPY)

-10%0%10%20%30%40%50%TW:6146+16.66%SPY+14.28%Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
Market Cap
TWD 18.03B
Dividend Yield
9.92%
Average Volume (3M)
387.86K
Price to Earnings (P/E)
15.0
Beta (1Y)
0.72
Revenue Growth
7.50%
EPS Growth
10.61%
Country
TW
Employees
1,142
Sector
General
Sector Strength
55
Industry
Specialty Business Services

Sporton International Inc. Business Overview & Revenue Model

Company Description

Sporton International Inc. is a global provider of product testing and certification services, maintaining a significant presence in Taiwan. The company assists clients with mobile device development, offering support from design consultation and tra...

Sporton International Inc. Financial Statement Overview

Summary

Sporton combines a near debt-free balance sheet (debt-to-equity ~0.03, equity funding 72% of assets, Balance Sheet Score 88) with still-elevated profitability — 46% gross, 31% operating and 42% EBITDA margins (Income Statement Score 71). Cash flow remains healthy at NT$1.19bn free cash flow with the best cash conversion of the six-year period (Cash Flow Score 76). Offsetting this, revenue has fallen for three consecutive years from the 2022 peak, net income is down roughly 29%, margins have compressed across every line, and return on equity has slipped from 31% to 19%, pointing to a high-quality but decelerating earnings profile.

Income Statement

71Positive

Balance Sheet

88Very Positive

Cash Flow

76Positive
Financial statement breakdown
BreakdownTTMDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue4.70B4.49B4.56B4.83B5.02B4.32B
Gross Profit2.17B2.07B2.29B2.57B2.76B2.16B
EBITDA1.90B1.87B2.17B2.36B2.50B1.85B
Net Income1.16B1.10B1.29B1.46B1.54B1.07B
Balance Sheet
Total Assets8.98B8.02B8.00B7.57B7.17B6.13B
Cash, Cash Equivalents and Short-Term Investments3.19B3.64B3.47B3.17B3.08B2.23B
Total Debt180.12M160.26M266.35M174.25M184.88M200.29M
Total Liabilities3.10B1.76B1.88B1.84B1.84B1.52B
Stockholders Equity5.34B5.76B5.67B5.36B5.00B4.35B
Cash Flow
Free Cash Flow192.46M1.19B1.36B1.29B1.68B1.48B
Operating Cash Flow411.15M1.37B1.58B1.69B2.18B1.95B
Investing Cash Flow8.22M-440.73M94.69M-1.38B-958.64M-453.47M
Financing Cash Flow-91.06M-1.11B-1.12B-1.10B-912.78M-606.28M

Sporton International Inc. Peers Comparison

Overall Rating

UnderperformOutperform
Sector (55)

Financial Indicators

TW:6146 against its peers
NameOverall RatingMarket CapP/E RatioROEDividend YieldRevenue GrowthEPS Growth
TW:6146TW:614669NeutralTWD 17.83B14.95―9.92%7.50%10.61%
TW:6903TW:690366NeutralTWD 18.34B12.78―3.04%196.19%262.75%
TW:6640TW:664064NeutralTWD 22.20B38.13―1.79%38.95%50.60%
TW:3265TW:326558NeutralTWD 21.46B23.62―2.47%15.38%34.04%
Sector *55Neutral$6.65B3.83-15.92%6.20%10.91%7.18%

* General Sector Average

Performance Comparison

0%200%400%600%800%TW:6146TW:3265TW:6640TW:6903TW:6920TW:7853Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
TW:6146 and its peers over the selected period
Show on chartTickerCompany NamePriceChange% Change
TW:6146Sporton International Inc.176.5023.8315.61%
TW:3265Winstek Semiconductor Co. Ltd.166.0069.0671.23%
TW:6640Gallant Micro Machining Co. Ltd.840.00245.1141.20%
TW:6903Jiu Han System Technology Co Ltd280.00115.6670.38%
TW:6920Phoenix Pioneer Technology Co., Ltd.78.3045.90141.67%
TW:7853Cheng Mei Instrument Technology Co., Ltd.332.50266.50403.79%
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