ATrack Technology Inc (6465) AI Stock Analysis

ATrack Technology Inc

(TPEx:6465)

Select Model

Rating:74Outperform

Price Target:TWD 35.00▼(-9.56% Downside)

Action:initiatedcoverage

Date:11/10/26

Strong financial turnaround and attractive valuation are the primary drivers, partially offset by weak technical momentum.

Positive Factors

Revenue and Profitability ReboundThe sharp 2025 recovery shows that ATrack’s telematics business can regain scale and profitability after a weak period. If revenue remains elevated, the stronger earnings base should improve internal funding capacity and support more resilient operations over the coming quarters.

Negative Factors

Profitability VolatilityThe recent turnaround has not yet established a long record of consistent profitability. Losses through 2024, including a very negative margin, show that earnings can deteriorate sharply, making the durability of the 2025 recovery an important ongoing business risk.

ATrack Technology Inc (6465) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 2.28B
Dividend Yield: 0.49%
Average Volume (3M): 301.29K
Price to Earnings (P/E): 8.7
Beta (1Y): 0.70
Revenue Growth: 135.76%
EPS Growth: ―
Country: TW
Employees: 62
Sector: General
Sector Strength: 55
Industry: Communication Equipment

ATrack Technology Inc Business Overview & Revenue Model

Company Description

ATrack Technology Inc., established in 2010 and based in Taipei, Taiwan, is a provider of advanced telematics solutions, serving clients both within Taiwan and globally. The company's portfolio includes a range of telematics and asset tracking hardwa...

ATrack Technology Inc Financial Statement Overview

Summary

Strong revenue growth of 57%, margin expansion to 60%, return to profitability, very strong balance sheet with debt-to-equity of 0.07, and positive operating and free cash flows.

Income Statement

85Very Positive

Balance Sheet

90Very Positive

Cash Flow

78Positive

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	331.38M	263.25M	160.91M	241.60M	190.76M	208.91M
Gross Profit	258.09M	158.65M	38.60M	71.54M	47.72M	72.77M
EBITDA	130.54M	49.33M	-56.97M	-37.27M	-76.79M	-25.77M
Net Income	160.80M	40.43M	-65.66M	-52.89M	-90.86M	-47.94M
Balance Sheet
Total Assets	661.20M	567.38M	494.31M	505.28M	546.45M	659.48M
Cash, Cash Equivalents and Short-Term Investments	227.68M	190.74M	156.82M	96.39M	110.53M	274.74M
Total Debt	33.51M	35.22M	297.00K	260.30M	258.69M	247.65M
Total Liabilities	81.72M	76.17M	42.96M	309.84M	297.25M	319.69M
Stockholders Equity	579.48M	491.21M	451.34M	195.44M	249.20M	339.79M
Cash Flow
Free Cash Flow	76.05M	28.03M	-16.02M	7.63M	-155.30M	-71.74M
Operating Cash Flow	80.36M	48.98M	-8.66M	12.45M	-147.48M	-63.61M
Investing Cash Flow	-22.43M	-74.08M	-29.15M	6.79M	-6.65M	-38.31M
Financing Cash Flow	-3.21M	-1.78M	64.58M	-3.92M	3.01M	120.37M

ATrack Technology Inc Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:6465 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:6465	74Outperform	TWD 2.20B	8.71	―	0.49%	135.76%	―
TW:6470	71Outperform	TWD 1.73B	9.80	―	5.49%	-36.59%	-9.82%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
TW:8072	54Neutral	TWD 1.85B	14.69	―	4.26%	27.49%	64.44%
TW:8089	54Neutral	TWD 1.98B	-12.87	―	3.30%	-67.55%	-168.26%
TW:6216	50Neutral	TWD 1.76B	885.71	―	5.60%	-25.98%	-97.11%
TW:5484	33Underperform	TWD 2.03B	23.32	―	―	77.09%	―

* General Sector Average

Performance Comparison

TW:6465 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:6465	ATrack Technology Inc	38.70	22.29	135.83%
TW:5484	EverFocus Electronics Co. Ltd.	30.80	-6.40	-17.20%
TW:6216	DrayTek Corporation	18.40	-7.29	-28.37%
TW:6470	U-MEDIA Communications Inc	45.50	2.30	5.31%
TW:8072	AV Tech Corporation	23.50	-7.68	-24.64%
TW:8089	Comtrend Corp	32.90	2.00	6.47%

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

ATrack Technology Inc AI Stock Analysis