Chang Wah Technology Co., Ltd. AI Stock Analysis
Chang Wah Technology Co., Ltd. (6548) AI Stock Analysis
Chang Wah Technology Co., Ltd.
(TPEx:6548)
The score reflects a mixed fundamental profile paired with poor price momentum. Revenue growth has resumed and cash generation remains dependable, but shrinking gross and net margins, a 21% earnings decline, rising leverage and a sharply lower free cash flow weigh on quality. Technically the stock is in a clear downtrend, trading well below all key moving averages with negative MACD and deeply oversold oscillators. A roughly 24x P/E offers limited valuation support against falling earnings, though a 2.3% dividend yield provides modest compensation. Stabilization in margins and free cash flow would be needed to improve the outlook.
Chang Wah Technology Co., Ltd. (6548) vs. SPDR S&P 500 ETF (SPY)
- Market Cap
- TWD 63.80B
- Dividend Yield
- 2.03%
- Average Volume (3M)
- 4.03M
- Price to Earnings (P/E)
- 26.3
- Beta (1Y)
- 0.95
- Revenue Growth
- 25.32%
- EPS Growth
- 51.86%
- Country
- TW
- Employees
- 121
- Sector
- General
- Sector Strength
- 55
- Industry
- Semiconductors
Chang Wah Technology Co., Ltd. Business Overview & Revenue Model
Company Description
Established in 2009 and headquartered in Kaohsiung, Taiwan, Chang Wah Technology Co., Ltd. is primarily engaged in the manufacturing and distribution of LED lead frames and molding compound materials. Beyond these core offerings, the company also pro...
Chang Wah Technology Co., Ltd. Financial Statement Overview
Summary
Chang Wah returned to growth in 2025 with revenue up about 12% to NT$13.4 billion, but profitability weakened as gross margin fell to 21.7% and net income dropped roughly 21%, pulling return on equity down to 13.6%. The balance sheet remains adequately capitalized with equity near half of assets, though debt-to-equity rose to 0.67 as expansion is funded with borrowings. Operating cash flow of NT$1.88 billion comfortably exceeds net income, signaling good earnings quality, but heavy capital spending cut free cash flow by more than a third. Overall a financially stable supplier with solid cash generation, offset by a clear margin and returns downtrend.
Income Statement
61PositiveBalance Sheet
63PositiveCash Flow
60Neutral| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 14.99B | 13.43B | 11.99B | 11.58B | 14.43B | 12.79B |
| Gross Profit | 3.30B | 2.91B | 2.89B | 2.60B | 4.39B | 3.41B |
| EBITDA | 3.15B | 2.75B | 3.25B | 2.88B | 4.41B | 2.92B |
| Net Income | 2.11B | 1.50B | 1.90B | 1.56B | 2.82B | 1.71B |
Balance Sheet | ||||||
| Total Assets | 26.67B | 22.85B | 21.58B | 19.97B | 18.83B | 14.84B |
| Cash, Cash Equivalents and Short-Term Investments | 9.52B | 8.79B | 8.50B | 8.05B | 7.04B | 4.80B |
| Total Debt | 8.52B | 7.43B | 6.27B | 6.16B | 4.70B | 3.34B |
| Total Liabilities | 13.17B | 11.39B | 9.88B | 9.63B | 8.66B | 6.43B |
| Stockholders Equity | 12.95B | 11.03B | 11.24B | 9.90B | 9.77B | 8.29B |
Cash Flow | ||||||
| Free Cash Flow | 92.75M | 939.84M | 1.46B | 1.55B | 2.55B | 783.26M |
| Operating Cash Flow | 1.11B | 1.88B | 1.81B | 2.76B | 4.06B | 1.65B |
| Investing Cash Flow | -3.31B | -849.27M | -1.28B | -2.89B | -2.97B | -398.53M |
| Financing Cash Flow | -925.26M | -775.97M | -1.53B | -273.89M | 640.48M | -30.78M |
Chang Wah Technology Co., Ltd. Peers Comparison
Overall Rating
TW:244168Neutral
TW:627168Neutral
TW:625763Neutral
TW:326462Neutral- TW:654854Neutral
TW:815043Neutral
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| TW:2441 | 68Neutral | TWD 61.72B | 17.20 | ― | 2.67% | 24.12% | 55.55% |
| TW:6271 | 68Neutral | TWD 42.48B | 20.89 | ― | 1.40% | 4.90% | 41.69% |
| TW:6257 | 63Neutral | TWD 86.62B | 19.20 | ― | 2.31% | 17.57% | 74.17% |
| TW:3264 | 62Neutral | TWD 90.99B | 21.77 | ― | 2.12% | 31.88% | 80.58% |
| Sector * | 55Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
| TW:6548 | 54Neutral | TWD 60.75B | 26.26 | ― | 2.03% | 25.32% | 51.86% |
| TW:8150 | 43Neutral | TWD 56.50B | 19.21 | ― | 1.39% | 28.18% | 1243.70% |
* General Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| TW:6548 | Chang Wah Technology Co., Ltd. | 66.40 | 20.89 | 45.89% | |
| TW:2441 | Greatek Electronics, Inc. | 112.50 | 37.95 | 50.91% | |
| TW:3264 | Ardentec Corporation | 198.50 | 109.67 | 123.45% | |
| TW:6257 | Sigurd Microelectronics Corp. | 184.00 | 86.94 | 89.56% | |
| TW:6271 | Tong Hsing Electronic Industries ,Ltd. | 214.00 | 87.60 | 69.30% | |
| TW:8150 | ChipMOS Technologies, Inc. | 88.20 | 44.76 | 103.02% |
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