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Ennoconn Corp. (6414) AI Stock Analysis

TW:6414

Ennoconn Corp.

(TWSE:6414)

Select Model
Rating:61Neutral
Price Target:TWD 341.00â–²(2.10% Upside)
Action:initiatedcoverage
Date:11/09/26

Ennoconn scores in the moderate range. Fundamentals are mixed-to-constructive: margin expansion, 17% net income growth, strong operating cash flow and ongoing deleveraging offset an 8% revenue decline, a 2.3% net margin, and an equity base funding under a fifth of assets. An inexpensive 12.9x P/E and 4.27% dividend yield provide meaningful valuation and income support. The main drag is technical — the share price sits well below all key moving averages with negative MACD, reflecting a sustained downtrend, although the extremely low RSI and Stochastic readings suggest selling may be nearing exhaustion. No earnings call commentary or corporate events were available, so those components were excluded and their weight redistributed.

Positive Factors
Improving Operating ProfitabilityThe stronger operating margin indicates improved profitability from the company’s core activities despite a difficult revenue year. If maintained, this efficiency gains can support earnings resilience, provide more internal funding for industrial-computing investments, and improve competitiveness across future demand cycles.
Negative Factors
Revenue Decline and Demand VolatilityThe reversal from strong growth to an 8.4% revenue decline highlights sensitivity to end-demand and customer cycles. Uneven sales can make capacity planning, earnings forecasting, and fixed-cost absorption more difficult, limiting the durability of profitability during weaker industrial spending periods.

Ennoconn Corp. (6414) vs. SPDR S&P 500 ETF (SPY)

-20%0%20%40%60%80%100%TW:6414+22.88%SPY+12.79%Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
Market Cap
TWD 50.33B
Dividend Yield
4.13%
Average Volume (3M)
1.21M
Price to Earnings (P/E)
12.9
Beta (1Y)
0.78
Revenue Growth
8.27%
EPS Growth
19.95%
Country
TW
Employees
9,585
Sector
General
Sector Strength
55
Industry
Computer Hardware

Ennoconn Corp. Business Overview & Revenue Model

Company Description

Established in 1999 and headquartered in New Taipei City, Taiwan, Ennoconn Corporation specializes in the global design and development of industrial-grade motherboards. The company delivers robust hardware system solutions meticulously engineered fo...

Ennoconn Corp. Financial Statement Overview

Summary

Ennoconn blends solid cash generation with a still-leveraged balance sheet. Margins expanded across the board (gross 20.5%, operating 8.0%) and net income rose roughly 17% to NT$3.2 billion, even as revenue slipped about 8% from the prior year's peak. Operating cash flow of NT$11.4 billion and free cash flow of NT$6.3 billion comfortably exceed reported profit, though both declined year-over-year and the longer free cash flow record is uneven. Leverage has improved materially, with debt-to-equity down to 1.43x from 3.3x in 2020, but equity funds only about 17% of a NT$165 billion asset base. Thin net margin of 2.3% leaves limited cushion against cost or pricing shocks.

Income Statement

64Positive

Balance Sheet

56Neutral

Cash Flow

68Positive
Financial statement breakdown
BreakdownTTMDec 2025Dec 2024Mar 2024Dec 2022Dec 2021
Income Statement
Total Revenue158.62B142.29B146.38B121.64B108.23B85.37B
Gross Profit31.31B29.18B28.83B23.60B19.61B17.04B
EBITDA14.58B15.67B13.83B10.79B8.24B7.23B
Net Income3.62B3.21B2.74B2.26B3.45B1.33B
Balance Sheet
Total Assets185.06B165.17B147.01B126.78B119.29B100.63B
Cash, Cash Equivalents and Short-Term Investments30.02B29.12B28.17B24.45B26.09B18.58B
Total Debt43.05B39.67B43.45B34.90B37.84B32.62B
Total Liabilities119.65B100.98B92.74B77.11B76.58B69.26B
Stockholders Equity28.50B27.73B24.27B21.90B15.54B10.80B
Cash Flow
Free Cash Flow8.33B6.30B9.32B4.84B-2.75B-1.12B
Operating Cash Flow11.77B11.42B14.10B7.43B-739.48M1.65B
Investing Cash Flow-4.62B-3.57B-7.06B-6.29B4.58B-1.11B
Financing Cash Flow-529.91M-6.99B-3.80B-4.43B3.04B2.02B

Ennoconn Corp. Peers Comparison

Overall Rating

UnderperformOutperform
Sector (55)

Financial Indicators

TW:6414 against its peers
NameOverall RatingMarket CapP/E RatioROEDividend YieldRevenue GrowthEPS Growth
TW:3005TW:300577OutperformTWD 66.83B12.65―6.34%8.59%8.19%
TW:3596TW:359666NeutralTWD 29.87B10.47―6.57%4.32%5.74%
TW:6414TW:641461NeutralTWD 52.49B12.92―4.13%8.27%19.95%
Sector *55Neutral$6.65B3.83-15.92%6.20%10.91%7.18%
TW:2388TW:238854NeutralTWD 31.52B33.10―0.09%-2.83%4352.20%
TW:2352TW:235244NeutralTWD 47.26B30.20―10.69%1.60%19.60%

* General Sector Average

Performance Comparison

-50%0%50%TW:6414TW:2352TW:2388TW:3005TW:3596TW:7711Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
TW:6414 and its peers over the selected period
Show on chartTickerCompany NamePriceChange% Change
TW:6414Ennoconn Corp.334.0067.9725.55%
TW:2352Qisda Corporation29.902.639.64%
TW:2388VIA Technologies, Inc.56.704.939.53%
TW:3005Getac Holdings Corporation107.00-15.10-12.37%
TW:3596Arcadyan Technology Corporation137.00-42.42-23.64%
TW:7711ASrock Rack, Inc.528.00155.6241.79%
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