Handa Pharmaceuticals Inc (6620) AI Stock Analysis

Handa Pharmaceuticals Inc

(TPEx:6620)

Select Model

Rating:70Outperform

Price Target:TWD 115.00▼(-15.75% Downside)

Action:initiatedcoverage

Date:11/10/26

The score is supported primarily by the exceptionally strong balance sheet and improved profitability. Weak recent technical momentum and an elevated P/E ratio materially reduce the rating, while historical earnings and cash-flow volatility add financial risk.

Positive Factors

Very Conservative Balance SheetMinimal leverage and expanding equity provide financial flexibility during the next several quarters. A low debt burden reduces interest and refinancing pressure, allowing Handa Pharmaceuticals to retain more cash for product development, commercialization, and other strategic investment.

Negative Factors

History of Significant LossesThe sharp loss-making period in 2020–2022 shows that earnings have not yet been proven across different operating conditions. This history makes the recent profitability profile less durable until the company demonstrates that strong margins can persist through future fluctuations.

Handa Pharmaceuticals Inc (6620) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 20.89B
Dividend Yield: 1.52%
Average Volume (3M): 3.02M
Price to Earnings (P/E): 66.8
Beta (1Y): 1.07
Revenue Growth: ―
EPS Growth: ―
Country: TW
Employees: 15
Sector: General
Sector Strength: 55
Industry: Drug Manufacturers - Specialty & Generic

Handa Pharmaceuticals Inc Business Overview & Revenue Model

Company Description

Handa Pharmaceuticals, Inc. operates as a specialized drug company, concentrating its efforts on creating and advancing new medications for diverse health issues across both the United States and China. The firm currently offers Quetiapine XR, a trea...

Handa Pharmaceuticals Inc Financial Statement Overview

Summary

Very strong balance sheet and substantial 2025 revenue and profit growth support the score. Historical earnings and cash-flow volatility, declining margins and ROE, and cash flow below recent highs are important risks.

Income Statement

78Positive

Balance Sheet

94Very Positive

Cash Flow

72Positive

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	1.21B	1.73B	830.67M	1.11B	197.68M	29.23M
Gross Profit	985.90M	1.46B	829.50M	1.11B	178.97M	27.77M
EBITDA	628.22M	1.10B	490.09M	802.78M	-27.69M	-225.41M
Net Income	490.21M	749.77M	472.74M	726.89M	-40.01M	-247.67M
Balance Sheet
Total Assets	5.58B	5.89B	3.44B	3.04B	790.56M	498.53M
Cash, Cash Equivalents and Short-Term Investments	3.73B	3.71B	1.83B	2.32B	368.50M	296.61M
Total Debt	41.03M	47.64M	40.10M	13.24M	29.59M	11.89M
Total Liabilities	557.91M	232.05M	324.09M	280.88M	69.44M	35.42M
Stockholders Equity	5.02B	5.66B	3.12B	2.76B	721.12M	463.10M
Cash Flow
Free Cash Flow	633.29M	226.55M	489.83M	667.42M	-212.33M	-186.39M
Operating Cash Flow	662.01M	243.63M	497.60M	668.36M	-211.57M	-179.24M
Investing Cash Flow	-405.33M	-847.84M	-396.92M	-1.66B	29.50M	-2.91M
Financing Cash Flow	245.59M	1.79B	-200.55M	1.31B	313.64M	162.91M

Handa Pharmaceuticals Inc Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:6620 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:4105	79Outperform	TWD 20.44B	12.48	―	5.48%	4.54%	-7.38%
TW:6620	70Outperform	TWD 20.83B	66.76	―	1.52%	―	―
TW:4114	61Neutral	TWD 14.97B	17.66	―	3.06%	11.40%	9.36%
TW:1789	57Neutral	TWD 16.01B	904.98	―	1.45%	-4.75%	-90.91%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%

* General Sector Average

Performance Comparison

TW:6620 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:6620	Handa Pharmaceuticals Inc	136.50	16.48	13.73%
TW:1789	Scinopharm Taiwan, Ltd.	20.00	2.60	14.92%
TW:4105	TTY Biopharm Company Limited	82.10	7.54	10.12%
TW:4114	Synmosa Biopharma Corp	27.75	-1.98	-6.67%
TW:6586	CHO Pharma, Inc.	76.20	46.05	152.74%
TW:7827	HanchorBio Inc.	119.00	49.90	72.21%

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 10, 2026

Handa Pharmaceuticals Inc AI Stock Analysis