Song Shang Electronics Co., Ltd. (6156) AI Stock Analysis

Song Shang Electronics Co., Ltd.

(TPEx:6156)

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Rating:43Neutral

Price Target:TWD 19.00▼(-10.59% Downside)

Action:initiatedcoverage

Date:11/10/26

The score is primarily constrained by deteriorating profitability, negative free cash flow, and weak cash conversion. Bearish technical momentum and expensive valuation add pressure, while the relatively stable balance sheet and oversold technical readings provide limited support.

Positive Factors

Manageable LeverageLeverage has remained within a relatively stable range, with 2025 debt-to-equity around 0.76 rather than showing extreme balance-sheet stress. This provides some financial flexibility to manage weaker earnings and continue operations through the next several quarters.

Negative Factors

Revenue VolatilityRevenue has lacked a consistent growth pattern, moving through declines, a rebound, and another pullback in 2025. This volatility reduces confidence in predictable demand and makes it harder to sustain efficient cost absorption, planning, and earnings growth over the medium term.

Song Shang Electronics Co., Ltd. (6156) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 2.38B
Dividend Yield: 0.94%
Average Volume (3M): 823.34K
Price to Earnings (P/E): 37.8
Beta (1Y): 0.85
Revenue Growth: 20.51%
EPS Growth: -44.52%
Country: TW
Employees: 2,127
Sector: General
Sector Strength: 55
Industry: Hardware, Equipment & Parts

Song Shang Electronics Co., Ltd. Business Overview & Revenue Model

Company Description

Song Shang Electronics Co., Ltd. specializes in the production and distribution of a diverse range of electronic components, including magnetic parts, printed circuit boards, and wire assemblies. Its extensive selection of magnetic components compris...

Song Shang Electronics Co., Ltd. Financial Statement Overview

Summary

Financial performance is weak overall: profitability and revenue declined, free cash flow was negative, and cash conversion was poor. The balance sheet remains relatively stable, with debt below equity and positive operating cash flow.

Income Statement

40Negative

Balance Sheet

62Positive

Cash Flow

25Negative

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	5.39B	4.90B	4.31B	3.29B	4.19B	4.69B
Gross Profit	724.79M	771.46M	724.00M	496.37M	527.14M	501.20M
EBITDA	287.23M	327.01M	464.83M	396.25M	245.69M	294.67M
Net Income	63.39M	48.24M	211.49M	152.11M	200.61M	104.07M
Balance Sheet
Total Assets	7.47B	7.06B	6.80B	4.45B	4.29B	4.22B
Cash, Cash Equivalents and Short-Term Investments	1.86B	2.12B	2.57B	1.77B	1.32B	1.13B
Total Debt	1.86B	1.69B	1.65B	1.32B	1.26B	1.06B
Total Liabilities	4.12B	3.74B	3.58B	2.39B	2.40B	2.49B
Stockholders Equity	2.31B	2.23B	2.31B	1.59B	1.47B	1.33B
Cash Flow
Free Cash Flow	-589.02M	-93.81M	-282.69M	522.06M	305.33M	83.63M
Operating Cash Flow	-398.20M	97.68M	67.31M	595.84M	373.47M	170.71M
Investing Cash Flow	-129.53M	-407.55M	489.59M	-328.67M	-310.76M	215.45M
Financing Cash Flow	-430.31M	-321.17M	457.67M	-13.42M	-61.70M	-158.75M

Song Shang Electronics Co., Ltd. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:6156 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:3652	72Outperform	TWD 2.25B	14.19	―	3.99%	13.45%	57.12%
TW:5438	58Neutral	TWD 2.12B	-5.62	―	3.99%	-32.73%	-411.13%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
TW:5291	44Neutral	TWD 2.04B	22.69	―	―	37.95%	611.13%
TW:6156	43Neutral	TWD 2.29B	37.84	―	0.94%	20.51%	-44.52%
TW:5484	33Underperform	TWD 2.03B	22.36	―	―	77.09%	―

* General Sector Average

Performance Comparison

TW:6156 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:6156	Song Shang Electronics Co., Ltd.	21.25	1.39	7.01%
TW:3652	Unitech Electronic Co., Ltd.	29.95	1.89	6.73%
TW:5291	EISO Enterprise Co., Ltd.	48.60	23.65	94.79%
TW:5438	Teco Image Systems Co., Ltd.	18.80	-1.90	-9.17%
TW:5484	EverFocus Electronics Co. Ltd.	30.35	-7.85	-20.55%
TW:7945	Qsan Technology, Inc.	192.50	-102.50	-34.75%

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

Song Shang Electronics Co., Ltd. AI Stock Analysis