ITEQ Corporation (6213) AI Stock Analysis

ITEQ Corporation

(TWSE:6213)

Select Model

Rating:52Neutral

Price Target:TWD 501.00▼(-13.62% Downside)

Action:initiatedcoverage

Date:11/10/26

Moderate financial performance from revenue recovery and balance sheet strength is the primary driver but offset by margin and cash flow pressures. Weak technical momentum and high valuation multiples further constrain the overall score.

Positive Factors

Revenue GrowthMeaningful revenue expansion over multiple years indicates stronger business scale and demand for the company’s laminate materials. If maintained, a larger revenue base can support operating leverage, broaden customer reach, and provide a durable foundation for future earnings growth.

Negative Factors

Margins Below Prior PeaksAlthough profitability rebounded, margins have not regained the stronger levels achieved in 2020–2022. This indicates that prior pricing power or cost efficiency has not been fully restored, leaving longer-term earnings quality below the company’s historical best performance.

ITEQ Corporation (6213) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 202.15B
Dividend Yield: 0.52%
Average Volume (3M): 16.31M
Price to Earnings (P/E): 42.6
Beta (1Y): 1.63
Revenue Growth: 41.96%
EPS Growth: 290.01%
Country: TW
Employees: 3,385
Sector: General
Sector Strength: 55
Industry: Hardware, Equipment & Parts

ITEQ Corporation Business Overview & Revenue Model

Company Description

Headquartered in Hsinchu City, Taiwan, and established in 1997, ITEQ Corporation is a key manufacturer and supplier of copper clad laminate (CCL) materials. These materials are fundamental to the production of printed circuit boards. The company's di...

ITEQ Corporation Financial Statement Overview

Summary

Revenue recovered with net income more than doubling, supported by a stable balance sheet with low debt and improving ROE. However, gross margin compression and volatile cash flows limit the score.

Income Statement

68Positive

Balance Sheet

76Positive

Cash Flow

58Neutral

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	37.31B	33.10B	29.38B	25.08B	29.13B	32.52B
Gross Profit	5.77B	4.78B	3.69B	3.11B	3.94B	5.98B
EBITDA	4.92B	3.97B	2.97B	2.46B	3.58B	4.84B
Net Income	2.35B	1.51B	821.79M	676.63M	1.86B	3.14B
Balance Sheet
Total Assets	43.29B	38.21B	34.84B	33.38B	33.38B	36.24B
Cash, Cash Equivalents and Short-Term Investments	4.01B	4.99B	4.65B	5.68B	5.22B	4.43B
Total Debt	6.11B	5.88B	5.79B	5.54B	4.58B	2.41B
Total Liabilities	20.70B	16.95B	14.20B	13.94B	13.27B	14.92B
Stockholders Equity	22.59B	21.27B	20.65B	19.44B	20.11B	21.31B
Cash Flow
Free Cash Flow	-1.81B	758.42M	-801.15M	970.38M	3.27B	-1.80B
Operating Cash Flow	123.10M	2.30B	925.14M	2.10B	6.43B	3.15B
Investing Cash Flow	-1.34B	-1.51B	-1.70B	-1.30B	-3.22B	-4.96B
Financing Cash Flow	-410.15M	-535.21M	-388.63M	-171.43M	-1.39B	2.93B

ITEQ Corporation Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:6213 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:8039	60Neutral	TWD 56.59B	73.94	―	0.88%	2.53%	118.11%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
TW:1815	55Neutral	TWD 78.68B	33.37	―	0.36%	48.55%	293.99%
TW:6274	54Neutral	TWD 294.07B	36.17	―	0.71%	86.84%	165.06%
TW:6213	52Neutral	TWD 191.98B	42.63	―	0.52%	41.96%	290.01%
TW:1717	48Neutral	TWD 74.84B	33.16	―	1.58%	-1.57%	36.18%
TW:1802	41Neutral	TWD 202.98B	45.12	―	―	11.76%	―

* General Sector Average

Performance Comparison

TW:6213 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:6213	ITEQ Corporation	580.00	469.43	424.55%
TW:1717	Eternal Materials Co., Ltd.	63.00	23.49	59.47%
TW:1802	Taiwan Glass Industry Corp.	76.70	40.65	112.76%
TW:1815	Fulltech Fiber Glass Corp.	140.50	53.98	62.39%
TW:6274	Taiwan Union Technology Corporation	1060.00	661.69	166.12%
TW:8039	TAIFLEX Scientific Co., Ltd.	227.00	159.20	234.80%

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

ITEQ Corporation AI Stock Analysis