Voltronic Power Technology Corp. (6409) AI Stock Analysis

Voltronic Power Technology Corp.

(TWSE:6409)

Select Model

Rating:60.5Neutral

Price Target:TWD 833.00▲(0.60% Upside)

Action:initiatedcoverage

Date:11/10/26

The overall score of 60.5 reflects a company with strong financial health and a high dividend yield, but these are significantly offset by weak technical momentum and a growth challenge. The most impactful factor is the company's excellent balance sheet and cash flow, which provide stability. However, the stock is in a clear downtrend across all key moving averages, and the high P/E ratio is difficult to justify given two consecutive years of declining revenue. The return to top-line growth is the critical catalyst needed for a higher score.

Positive Factors

High profitabilityVoltronic maintains a strong profitability profile across net, operating, and gross margins. This provides internal funding for product development and expansion, while giving the company greater resilience if demand softens or operating costs rise over the next several quarters.

Negative Factors

Recent revenue contractionRepeated revenue declines show that growth has not been consistently sustained, even though profitability remains high. Prolonged top-line weakness could limit operating leverage, reduce reinvestment opportunities, and make future earnings more dependent on cost control than market expansion.

Voltronic Power Technology Corp. (6409) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 70.96B
Dividend Yield: 4.44%
Average Volume (3M): 391.96K
Price to Earnings (P/E): 31.8
Beta (1Y): 0.97
Revenue Growth: -12.61%
EPS Growth: -50.11%
Country: TW
Employees: 6,192
Sector: General
Sector Strength: 55
Industry: Electrical Equipment & Parts

Voltronic Power Technology Corp. Business Overview & Revenue Model

Company Description

Voltronic Power Technology Corp., together with its subsidiaries, engages in the manufacture and sale of uninterruptible power systems (UPS) in Taiwan and Mainland China. It offers UPS products, such as DC and standby, line interactive, lithium, sing...

Voltronic Power Technology Corp. Financial Statement Overview

Summary

Financial performance is solid, anchored by a fortress-like balance sheet (Score: 85) with minimal debt and strong cash flow generation (Score: 78) that nearly perfectly converts net income. The primary drag is the income statement (Score: 62), where consecutive annual revenue declines and compressed margins signal a growth challenge, tempering an otherwise robust financial profile.

Income Statement

62Positive

Balance Sheet

85Very Positive

Cash Flow

78Positive

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	19.58B	20.52B	22.81B	18.95B	22.72B	16.96B
Gross Profit	5.21B	5.86B	7.02B	5.97B	7.14B	4.31B
EBITDA	3.54B	4.64B	5.50B	4.81B	5.80B	3.23B
Net Income	2.28B	3.52B	4.20B	3.62B	4.43B	2.36B
Balance Sheet
Total Assets	19.29B	17.08B	17.32B	14.76B	16.04B	13.38B
Cash, Cash Equivalents and Short-Term Investments	7.86B	6.74B	6.56B	5.04B	5.35B	5.15B
Total Debt	1.22B	1.12B	896.83M	1.07B	1.26B	2.64B
Total Liabilities	11.34B	7.53B	7.39B	6.40B	7.70B	7.68B
Stockholders Equity	7.95B	9.55B	9.93B	8.36B	8.34B	5.71B
Cash Flow
Free Cash Flow	1.66B	4.55B	4.31B	3.89B	3.63B	1.76B
Operating Cash Flow	1.73B	4.62B	4.40B	4.08B	5.62B	2.30B
Investing Cash Flow	-523.38M	-394.69M	-103.89M	-231.86M	-1.97B	-532.48M
Financing Cash Flow	-3.75B	-3.94B	-3.49B	-4.01B	-3.79B	-1.52B

Voltronic Power Technology Corp. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:6409 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:6781	71Outperform	TWD 66.71B	18.80	―	2.40%	38.27%	23.92%
TW:1513	69Neutral	TWD 72.38B	17.04	―	3.96%	3.84%	22.26%
TW:1503	65Neutral	TWD 88.83B	23.93	―	2.88%	8.33%	16.27%
TW:2385	64Neutral	TWD 63.95B	9.74	―	8.25%	-10.82%	-28.50%
TW:6409	61Neutral	TWD 69.16B	31.83	―	4.44%	-12.61%	-50.11%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
TW:2258	33Underperform	TWD 49.47B	-10.85	―	―	5.67%	-45.00%

* General Sector Average

Performance Comparison

TW:6409 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:6409	Voltronic Power Technology Corp.	828.00	-274.81	-24.92%
TW:1503	Shihlin Electric & Engineering Corp.	173.50	7.52	4.53%
TW:1513	Chung-Hsin Electric & Machinery Manufacturing Corp.	151.50	10.61	7.53%
TW:2258	Foxtron Vehicle Technologies Co., Ltd.	28.10	-15.40	-35.40%
TW:2385	Chicony Electronics Co. Ltd.	87.30	-32.74	-27.27%
TW:6781	Advanced Energy Solution Holding Co., Ltd.	795.00	-508.28	-39.00%

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

Voltronic Power Technology Corp. AI Stock Analysis