Insyde Software Corp. (6231) AI Stock Analysis

Insyde Software Corp.

(TPEx:6231)

Select Model

Rating:69Neutral

Price Target:TWD 206.00▲(10.46% Upside)

Action:initiatedcoverage

Date:11/10/26

The company's fundamentals are a major strength, anchored by a fortress-like balance sheet and accelerating revenue growth, which supports a high financial performance score. However, the overall score is significantly weighed down by a very weak technical analysis, as the stock is in a clear downtrend with bearish momentum across all indicators. The reasonable valuation and attractive dividend yield provide a partial buffer but are not enough to offset the negative price action. The primary risk is the technical weakness, while the primary opportunity lies in the disconnect between strong business performance and a falling stock price.

Positive Factors

High-margin profitabilitySustained high gross margins and strong operating profitability indicate an asset-light software model with meaningful economic value. This margin structure can support continued investment in firmware capabilities, security features, and platform integration while providing resilience if revenue growth moderates.

Negative Factors

Free cash flow declineA sharp annual decline in free cash flow weakens the near-term conversion of accounting earnings into deployable capital. If the pullback reflects recurring working-capital needs or higher investment, it could reduce funds available for innovation, distributions, or other strategic uses.

Insyde Software Corp. (6231) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 8.72B
Dividend Yield: 3.06%
Average Volume (3M): 320.51K
Price to Earnings (P/E): 24.7
Beta (1Y): 0.97
Revenue Growth: 10.60%
EPS Growth: 16.32%
Country: TW
Employees: 714
Sector: General
Sector Strength: 55
Industry: Software - Application

Insyde Software Corp. Business Overview & Revenue Model

Company Description

Insyde Software Corp. is a global provider of foundational system firmware and specialized software engineering services. The company caters to enterprises across diverse technology sectors, including mobile, desktop, server, and embedded systems. Th...

Insyde Software Corp. Financial Statement Overview

Summary

Strong financial health overall. The balance sheet is exceptional (95/100) with minimal debt and high ROE. The income statement shows accelerating revenue growth and recovering margins (82/100). Cash flow is solid but shows some volatility with a recent decline in conversion, tempering the score slightly.

Income Statement

82Very Positive

Balance Sheet

95Very Positive

Cash Flow

78Positive

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	1.78B	1.69B	1.61B	1.34B	1.41B	1.30B
Gross Profit	1.30B	1.25B	1.25B	990.59M	1.16B	1.06B
EBITDA	504.80M	479.16M	499.28M	303.90M	440.46M	374.77M
Net Income	344.23M	303.85M	336.54M	184.88M	283.70M	225.90M
Balance Sheet
Total Assets	2.39B	1.66B	1.69B	1.35B	1.36B	1.29B
Cash, Cash Equivalents and Short-Term Investments	1.29B	1.13B	1.16B	888.03M	1.03B	933.04M
Total Debt	515.99M	42.51M	71.58M	105.81M	40.13M	75.71M
Total Liabilities	1.31B	496.30M	514.33M	445.46M	400.79M	442.26M
Stockholders Equity	1.08B	1.17B	1.17B	908.87M	963.73M	851.14M
Cash Flow
Free Cash Flow	-189.31M	334.95M	398.01M	155.00M	313.74M	283.21M
Operating Cash Flow	421.03M	361.00M	472.20M	162.58M	334.55M	313.76M
Investing Cash Flow	-666.15M	-80.07M	-73.34M	-8.85M	-23.29M	-30.06M
Financing Cash Flow	133.57M	-347.36M	-146.00M	-288.18M	-242.40M	-174.77M

Insyde Software Corp. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:6231 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:6231	69Neutral	TWD 8.95B	24.70	―	3.06%	10.60%	16.32%
TW:2414	59Neutral	TWD 8.53B	10.82	―	6.22%	35.65%	43.54%
TW:2495	59Neutral	TWD 8.15B	14.50	―	2.77%	33.53%	105.60%
TW:3479	59Neutral	TWD 7.64B	13.85	―	4.58%	10.71%	1.91%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
TW:2331	51Neutral	TWD 8.56B	27.13	―	1.37%	9.67%	-52.16%

* General Sector Average

Performance Comparison

TW:6231 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:6231	Insyde Software Corp.	186.50	-17.01	-8.36%
TW:2331	Elitegroup Computer Systems Co., Ltd.	15.55	-4.95	-24.15%
TW:2414	Unitech Computer Co., Ltd.	48.05	9.03	23.15%
TW:2495	Infortrend Technology, Inc.	28.85	3.29	12.87%
TW:3479	Avalue Technology Inc.	101.00	2.22	2.25%
TW:7710	ASRock Industrial Computer Corporation	117.50	-174.02	-59.69%

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

Insyde Software Corp. AI Stock Analysis