Wafer Works Corp. AI Stock Analysis
Wafer Works Corp. (6182) AI Stock Analysis
Wafer Works Corp.
(TPEx:6182)
Wafer Works scores low primarily on financial performance: margins have collapsed across the board, net profit is close to break-even, and an aggressive capacity build has driven free cash flow to -NT$6.98B while debt climbed nearly 50%. Technicals reinforce the caution, with the share price well below all major moving averages and a deeply negative MACD indicating a persistent downtrend. Valuation offers no support, as the ~319x P/E reflects minimal earnings and there is no dividend. Offsetting positives — a 13% revenue rebound and a resilient 27.3% EBITDA margin — suggest the business still generates cash, but the investment case depends on new capacity delivering a volume and pricing recovery before leverage becomes a constraint.
Wafer Works Corp. (6182) vs. SPDR S&P 500 ETF (SPY)
- Market Cap
- TWD 52.78B
- Dividend Yield
- ―
- Average Volume (3M)
- 55.88M
- Price to Earnings (P/E)
- 348.5
- Beta (1Y)
- 2.32
- Revenue Growth
- 9.40%
- EPS Growth
- ―
- Country
- TW
- Employees
- 1,029
- Sector
- General
- Sector Strength
- 55
- Industry
- Semiconductors
Wafer Works Corp. Business Overview & Revenue Model
Company Description
Wafer Works Corporation engages in the research, design, development, manufacturing, trading, and distribution of semiconductor materials in Taiwan, Mainland China, Asia, Europe, and Internationally. The company offers polished silicon and epitaxial...
Wafer Works Corp. Financial Statement Overview
Summary
Fundamentals are cyclically depressed. Revenue recovered about 13% to NT$9.82B, and EBITDA margin remains healthy at 27.3%, showing the core asset base still generates cash. However, gross margin has fallen from 40.8% to 24.3%, operating margin from 31.3% to 7.6%, and net margin to just 0.5% (NT$52M), leaving ROE under 1%. The balance sheet is serviceable at 0.62x debt-to-equity with NT$15.0B equity, but debt rose nearly 50% to NT$9.33B to fund roughly NT$8.5B of capex, pushing free cash flow to -NT$6.98B. Near-break-even earnings combined with rising leverage and a large funding gap create meaningful execution and funding risk.
Income Statement
38NegativeBalance Sheet
50NeutralCash Flow
32Negative| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 10.18B | 9.82B | 8.72B | 10.05B | 12.68B | 10.34B |
| Gross Profit | 2.28B | 2.39B | 2.11B | 3.25B | 5.17B | 3.62B |
| EBITDA | 2.65B | 2.68B | 2.39B | 3.35B | 5.58B | 3.41B |
| Net Income | 138.53M | 51.90M | 4.03M | 568.75M | 3.00B | 1.54B |
Balance Sheet | ||||||
| Total Assets | 42.54B | 38.92B | 34.50B | 26.43B | 28.77B | 27.36B |
| Cash, Cash Equivalents and Short-Term Investments | 5.41B | 5.16B | 9.59B | 4.16B | 5.63B | 5.81B |
| Total Debt | 10.98B | 9.33B | 6.26B | 5.60B | 6.13B | 7.11B |
| Total Liabilities | 14.44B | 13.42B | 8.81B | 8.27B | 10.05B | 10.68B |
| Stockholders Equity | 17.01B | 15.04B | 15.12B | 12.00B | 12.90B | 11.46B |
Cash Flow | ||||||
| Free Cash Flow | -8.41B | -6.98B | -1.82B | 590.23M | 2.47B | 417.70M |
| Operating Cash Flow | 1.11B | 1.56B | 1.69B | 3.30B | 5.28B | 2.68B |
| Investing Cash Flow | -9.22B | -7.21B | 808.76M | -2.76B | -2.96B | -1.87B |
| Financing Cash Flow | 6.18B | 2.71B | 1.12B | -2.02B | -2.81B | 1.69B |
Wafer Works Corp. Peers Comparison
Overall Rating
TW:300677Outperform
TW:245562Neutral
TW:802857Neutral
TW:371448Neutral
TW:301644Neutral- TW:618239Underperform
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| TW:3006 | 77Outperform | TWD 64.15B | 3.33 | ― | 0.44% | 272.74% | ― |
| TW:2455 | 62Neutral | TWD 69.09B | 73.02 | ― | 0.71% | 34.47% | 92.24% |
| TW:8028 | 57Neutral | TWD 37.35B | 35.55 | ― | 1.33% | 24.28% | 51.82% |
| Sector * | 55Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
| TW:3714 | 48Neutral | TWD 38.16B | -138.29 | ― | 5.97% | 4.37% | ― |
| TW:3016 | 44Neutral | TWD 34.46B | 62.18 | ― | 0.42% | 29.78% | 22824.42% |
| TW:6182 | 39Underperform | TWD 50.46B | 348.46 | ― | ― | 9.40% | ― |
* General Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| TW:6182 | Wafer Works Corp. | 85.50 | 55.95 | 189.29% | |
| TW:2455 | Visual Photonics Epitaxy Co., Ltd. | 384.50 | 229.06 | 147.36% | |
| TW:3006 | Elite Semiconductor Microelectronics Technology Inc. | 235.00 | 140.15 | 147.75% | |
| TW:3016 | Episil-Precision, Inc. | 125.00 | 72.69 | 138.95% | |
| TW:3714 | Ennostar Inc. | 96.15 | 39.16 | 68.71% | |
| TW:8028 | Phoenix Silicon International Corp. | 207.50 | 47.93 | 30.04% |
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