Aplex Technology Inc. (6570) AI Stock Analysis

Aplex Technology Inc.

(TPEx:6570)

Select Model

Rating:42Neutral

Price Target:TWD 40.00▼(-6.98% Downside)

Action:initiatedcoverage

Date:11/10/26

The overall score of 42 reflects a stock under significant pressure. The primary drag is the weak financial performance, driven by collapsing profit margins and poor cash flow generation despite a recent sales rebound. This is compounded by a strongly bearish technical picture, with the price in a clear downtrend and deeply negative momentum. The moderate valuation and dividend yield offer only a slight cushion and do not offset the fundamental and technical headwinds.

Positive Factors

Balance-sheet resilienceModerate leverage and a substantial equity base provide financial resilience as the company manages operating volatility. Compared with 2020, debt-to-equity has improved materially, preserving greater flexibility to fund operations and withstand weaker profitability without relying excessively on additional borrowing.

Negative Factors

Material margin compressionThe substantial decline in net and EBIT margins indicates that a smaller share of revenue is translating into operating and bottom-line profit. Persistent compression would reduce earnings resilience, limit internal funding capacity, and make future results more sensitive to costs, pricing, and product mix.

Aplex Technology Inc. (6570) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 1.59B
Dividend Yield: 2.56%
Average Volume (3M): 86.23K
Price to Earnings (P/E): 17.1
Beta (1Y): 1.00
Revenue Growth: 14.53%
EPS Growth: 96.60%
Country: TW
Employees: 215
Sector: General
Sector Strength: 55
Industry: Computer Hardware

Aplex Technology Inc. Business Overview & Revenue Model

Company Description

Aplex Technology Inc. is a global provider specializing in the development, manufacturing, and distribution of industrial personal computing solutions. Its extensive product portfolio encompasses a variety of ruggedized computing hardware, including...

Aplex Technology Inc. Financial Statement Overview

Summary

Financial performance is weak. The Income Statement (Score 35) shows margin erosion with net profit margin halving to 5.2% TTM. The Cash Flow Statement (Score 25) reveals poor cash conversion and volatile free cash flow. The Balance Sheet (Score 58) is a relative bright spot due to reduced leverage, but declining ROE to 5.9% TTM confirms deteriorating profitability. Overall, the return to revenue growth is overshadowed by severe earnings and cash flow weakness.

Income Statement

35Negative

Balance Sheet

58Neutral

Cash Flow

25Negative

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	1.01B	915.91M	888.81M	943.82M	1.14B	874.17M
Gross Profit	353.87M	314.60M	330.05M	358.11M	424.98M	299.33M
EBITDA	158.42M	104.28M	140.20M	166.53M	243.19M	160.35M
Net Income	93.81M	47.86M	59.00M	107.78M	171.64M	107.79M
Balance Sheet
Total Assets	1.45B	1.40B	1.37B	1.24B	1.37B	1.13B
Cash, Cash Equivalents and Short-Term Investments	158.16M	234.90M	300.87M	369.91M	375.37M	169.01M
Total Debt	384.09M	397.89M	390.70M	268.23M	281.60M	370.36M
Total Liabilities	610.05M	581.36M	545.25M	386.12M	499.31M	565.89M
Stockholders Equity	843.57M	813.78M	826.39M	857.40M	867.91M	559.76M
Cash Flow
Free Cash Flow	-27.02M	11.89M	-81.73M	144.17M	189.80M	44.59M
Operating Cash Flow	110.00K	50.80M	141.31M	159.02M	216.12M	66.40M
Investing Cash Flow	7.91M	-58.43M	-235.20M	-65.58M	3.03M	-7.74M
Financing Cash Flow	-39.15M	-55.77M	13.38M	-138.99M	11.77M	-89.41M

Aplex Technology Inc. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:6570 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
TW:6419	54Neutral	TWD 1.58B	4.34	―	2.25%	36.78%	583.03%
TW:3285	53Neutral	TWD 1.89B	26.96	―	1.03%	25.00%	430.27%
TW:2444	43Neutral	TWD 1.46B	-6.19	―	―	-28.59%	-77.80%
TW:6570	42Neutral	TWD 1.60B	17.13	―	2.56%	14.53%	96.60%

* General Sector Average

Performance Comparison

TW:6570 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:6570	Aplex Technology Inc.	43.00	4.19	10.78%
TW:2444	AboCom Systems, Inc.	13.50	2.60	23.85%
TW:3285	Microtips Technology Inc.	48.60	21.25	77.68%
TW:6419	Nuuo, Inc.	125.50	74.20	144.64%
TW:6786	iSTART-TEK INC.	49.95	8.98	21.93%
TW:7801	Asustor, Inc.	80.20	-22.87	-22.19%

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

Aplex Technology Inc. AI Stock Analysis