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Insyde Software Corp. (6231) AI Stock Analysis

TW:6231

Insyde Software Corp.

(TPEx:6231)

Select Model
Rating:74Outperform
Price Target:TWD 211.00â–²(7.65% Upside)
Action:initiatedcoverage
Date:11/10/26

The score is supported primarily by strong financial fundamentals, especially the balance sheet and return on equity. Bearish technical trends materially reduce the score, while the moderate P/E and 3.02% dividend yield provide only partial valuation support.

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)

-20%0%20%40%60%80%TW:6231-5.28%SPY+14.30%Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
Market Cap
TWD 8.72B
Dividend Yield
2.91%
Average Volume (3M)
320.01K
Price to Earnings (P/E)
26.1
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 overall financial performance, led by an exceptionally healthy balance sheet, low leverage, robust return on equity, and positive cash generation. Lower revenue quality, profitability, operating cash flow, and free cash flow versus the prior year limit the score.

Income Statement

85Very Positive

Balance Sheet

95Very Positive

Cash Flow

78Positive
Financial statement breakdown
BreakdownTTMDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue1.78B1.69B1.61B1.34B1.41B1.30B
Gross Profit1.30B1.25B1.25B990.59M1.16B1.06B
EBITDA504.80M479.16M499.28M303.90M440.46M374.77M
Net Income344.23M303.85M336.54M184.88M283.70M225.90M
Balance Sheet
Total Assets2.39B1.66B1.69B1.35B1.36B1.29B
Cash, Cash Equivalents and Short-Term Investments1.29B1.13B1.16B888.03M1.03B933.04M
Total Debt515.99M42.51M71.58M105.81M40.13M75.71M
Total Liabilities1.31B496.30M514.33M445.46M400.79M442.26M
Stockholders Equity1.08B1.17B1.17B908.87M963.73M851.14M
Cash Flow
Free Cash Flow-189.31M334.95M398.01M155.00M313.74M283.21M
Operating Cash Flow421.03M361.00M472.20M162.58M334.55M313.76M
Investing Cash Flow-666.15M-80.07M-73.34M-8.85M-23.29M-30.06M
Financing Cash Flow133.57M-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
NameOverall RatingMarket CapP/E RatioROEDividend YieldRevenue GrowthEPS Growth
TW:6231TW:623174OutperformTWD 8.86B26.09―2.91%10.60%16.32%
TW:2414TW:241459NeutralTWD 8.50B10.81―6.22%35.65%43.54%
TW:2495TW:249559NeutralTWD 7.86B14.97―2.68%33.53%105.60%
TW:3479TW:347959NeutralTWD 7.72B14.47―4.38%10.71%1.91%
Sector *55Neutral$6.65B3.83-15.92%6.20%10.91%7.18%
TW:2331TW:233151NeutralTWD 8.70B26.78―1.35%9.67%-52.16%

* General Sector Average

Performance Comparison

-50%0%50%100%TW:6231TW:2331TW:2414TW:2495TW:3479TW:7710Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
TW:6231 and its peers over the selected period
Show on chartTickerCompany NamePriceChange% Change
TW:6231Insyde Software Corp.196.00-7.51-3.69%
TW:2331Elitegroup Computer Systems Co., Ltd.15.35-5.15-25.12%
TW:2414Unitech Computer Co., Ltd.48.008.9823.02%
TW:2495Infortrend Technology, Inc.29.804.2416.58%
TW:3479Avalue Technology Inc.105.506.726.80%
TW:7710ASRock Industrial Computer Corporation122.00-169.52-58.15%
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