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Harvatek Corporation (6168) AI Stock Analysis

TW:6168

Harvatek Corporation

(TWSE:6168)

Select Model
Rating:42Neutral
Price Target:TWD 26.00â–¼(-17.07% Downside)
Action:initiatedcoverage
Date:11/09/26

The overall score is primarily impacted by weak financial performance due to declining profitability and negative cash flows, compounded by bearish technical indicators and an elevated valuation multiple.

Positive Factors
Low LeverageVery low and improving leverage gives Harvatek meaningful financial flexibility in a cyclical semiconductor environment. The lighter debt burden reduces refinancing exposure, preserves capacity to fund operations, and provides resilience while profitability recovers.
Negative Factors
Negative Cash GenerationNegative operating and free cash flow creates a durable execution concern because the business is not currently funding itself through operations. If weak cash conversion persists, Harvatek may need to draw on reserves or curtail investment, limiting flexibility during recovery.

Harvatek Corporation (6168) vs. SPDR S&P 500 ETF (SPY)

-25%0%25%50%75%100%125%150%TW:6168+61.18%SPY+14.30%Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
Market Cap
TWD 6.35B
Dividend Yield
―
Average Volume (3M)
8.08M
Price to Earnings (P/E)
102.9
Beta (1Y)
0.93
Revenue Growth
7.81%
EPS Growth
17188.89%
Country
TW
Employees
68
Sector
General
Sector Strength
55
Industry
Semiconductors

Harvatek Corporation Business Overview & Revenue Model

Company Description

Harvatek Corporation designs, manufactures, tests, exports, and sells semiconductor chips and LEDs in Taiwan and internationally. The company provides visible LED products, such as PCB, lead frame, CSP, COB, COX, lamp, and PLCC, as well as LED digita...

Harvatek Corporation Financial Statement Overview

Summary

Strong balance sheet with minimal leverage provides stability, but weak profitability with low margins around 0.5% and negative cash flows weigh on performance.

Income Statement

37Negative

Balance Sheet

84Very Positive

Cash Flow

23Negative
Financial statement breakdown
BreakdownTTMDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue2.14B2.07B1.96B2.03B2.47B3.00B
Gross Profit509.38M523.17M497.32M541.31M752.50M822.29M
EBITDA167.89M151.37M130.10M280.62M597.84M571.67M
Net Income66.84M11.29M5.86M107.09M375.23M370.32M
Balance Sheet
Total Assets4.55B3.81B4.07B4.01B4.08B4.61B
Cash, Cash Equivalents and Short-Term Investments1.33B1.27B1.53B1.59B1.58B1.77B
Total Debt69.91M66.03M322.43M149.95M76.66M271.15M
Total Liabilities783.08M643.86M913.41M733.94M713.29M1.10B
Stockholders Equity3.58B3.02B3.01B3.12B3.22B3.34B
Cash Flow
Free Cash Flow34.10M-108.92M32.98M234.01M369.93M378.31M
Operating Cash Flow168.08M-55.61M96.74M287.52M563.58M454.69M
Investing Cash Flow48.95M-29.70M-227.54M-513.40M-216.37M-86.63M
Financing Cash Flow-3.57M-179.60M-103.05M-313.56M-513.16M-244.90M

Harvatek Corporation Peers Comparison

Overall Rating

UnderperformOutperform
Sector (55)

Financial Indicators

TW:6168 against its peers
NameOverall RatingMarket CapP/E RatioROEDividend YieldRevenue GrowthEPS Growth
TW:3622TW:362272OutperformTWD 6.11B7.91―7.97%7.76%5.37%
TW:3441TW:344161NeutralTWD 7.01B75.92―0.47%26.87%117.51%
Sector *55Neutral$6.65B3.83-15.92%6.20%10.91%7.18%
TW:8105TW:810549NeutralTWD 5.48B14.69――-6.57%―
TW:3504TW:350446NeutralTWD 6.38B1375.00――6.51%-89.54%
TW:6168TW:616842NeutralTWD 6.21B102.86――7.81%17188.89%

* General Sector Average

Performance Comparison

0%200%400%600%TW:6168TW:3441TW:3504TW:3622TW:6434TW:8105Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
TW:6168 and its peers over the selected period
Show on chartTickerCompany NamePriceChange% Change
TW:6168Harvatek Corporation31.3511.9061.18%
TW:3441Unique Opto-Electronics Co.,Ltd179.00147.01459.48%
TW:3504Young Optics Inc.57.006.0011.76%
TW:3622Young Fast Optoelectronics Co., Ltd40.15-25.00-38.38%
TW:6434TacBright Optronics Corp.12.357.45152.04%
TW:8105Giantplus Technology Co., Ltd.12.601.2010.53%
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