Keding Enterprises Co., Ltd. (6655) AI Stock Analysis

Keding Enterprises Co., Ltd.

(TWSE:6655)

Select Model

Rating:51.7Neutral

Price Target:TWD 132.00▼(-0.38% Downside)

Action:initiatedcoverage

Date:11/10/26

The score is primarily constrained by high leverage, declining profitability, and weak free cash flow. Positive gross margins, supportive dividend yield, and moderately constructive longer-term technical positioning provide partial offsets, but neutral near-term momentum and a relatively high P/E limit the upside.

Positive Factors

Revenue GrowthContinued revenue expansion indicates that Keding is still growing its interior finishing business and maintaining demand for its products. If this trend persists, the larger revenue base can support operating investment, customer reach, and future earnings growth over the coming quarters.

Negative Factors

Elevated and Rising LeverageThe sustained rise in debt relative to equity reduces financial flexibility and makes the business more sensitive to any weakening in profitability or cash generation. Higher leverage can also constrain investment and capital allocation because more resources may be required to service and manage obligations.

Keding Enterprises Co., Ltd. (6655) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 10.21B
Dividend Yield: 4.53%
Average Volume (3M): 16.69K
Price to Earnings (P/E): 26.9
Beta (1Y): 0.26
Revenue Growth: 23.47%
EPS Growth: 59.07%
Country: TW
Employees: 1,021
Sector: General
Sector Strength: 55
Industry: Paper, Lumber & Forest Products

Keding Enterprises Co., Ltd. Business Overview & Revenue Model

Company Description

Keding Enterprises Co., Ltd. is engaged in the production and distribution of diverse timber goods, such as pre-finished veneer panels and hardwood flooring. The firm, established in 2002, maintains its primary business operations in New Taipei City,...

Keding Enterprises Co., Ltd. Financial Statement Overview

Summary

Profitability remains solid, supported by a 49.9% gross margin and 11.9% net margin, but declining earnings, elevated leverage, weakening return on equity, and very limited free cash flow materially weaken the financial profile.

Income Statement

68Positive

Balance Sheet

42Neutral

Cash Flow

35Negative

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	2.92B	2.60B	2.50B	2.37B	2.43B	2.28B
Gross Profit	1.41B	1.30B	1.30B	1.14B	1.22B	1.28B
EBITDA	561.08M	537.72M	653.98M	494.51M	665.14M	795.33M
Net Income	381.18M	309.91M	386.37M	248.60M	389.69M	537.07M
Balance Sheet
Total Assets	10.31B	8.76B	8.44B	6.38B	6.37B	5.16B
Cash, Cash Equivalents and Short-Term Investments	163.74M	141.19M	126.22M	132.79M	162.71M	141.66M
Total Debt	5.40B	5.37B	5.02B	3.77B	3.69B	2.82B
Total Liabilities	7.04B	6.22B	5.96B	4.29B	4.39B	3.38B
Stockholders Equity	3.27B	2.54B	2.47B	2.09B	1.98B	1.78B
Cash Flow
Free Cash Flow	79.25M	21.87M	-169.47M	128.50M	-596.37M	477.27M
Operating Cash Flow	443.12M	484.10M	460.42M	634.93M	445.56M	756.75M
Investing Cash Flow	-352.43M	-467.79M	-625.35M	-484.94M	-997.53M	-88.05M
Financing Cash Flow	-43.44M	3.35M	154.37M	-188.82M	568.02M	-1.05B

Keding Enterprises Co., Ltd. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:6655 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:2033	66Neutral	TWD 8.94B	261.02	―	0.27%	-1.16%	-4.45%
TW:1442	65Neutral	TWD 9.28B	14.82	―	9.47%	-66.06%	-68.40%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
TW:6727	55Neutral	TWD 9.58B	36.00	―	1.19%	50.99%	177.59%
TW:6655	52Neutral	TWD 10.15B	26.86	―	4.53%	23.47%	59.07%
TW:1532	48Neutral	TWD 9.11B	22.83	―	3.73%	0.87%	215.40%
TW:4306	44Neutral	TWD 9.28B	15.44	―	4.96%	4.17%	151.80%

* General Sector Average

Performance Comparison

TW:6655 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:6655	Keding Enterprises Co., Ltd.	132.50	34.00	34.52%
TW:1442	Advancetek Enterprise Co. Ltd.	25.35	-5.11	-16.77%
TW:1532	China Metal Products Co., Ltd.	21.45	-4.06	-15.92%
TW:2033	Chia Ta World Co., Ltd.	74.60	59.10	381.29%
TW:4306	Yem Chio Co., Ltd.	14.10	1.26	9.80%
TW:6727	Asia Metal Industries, Inc.	377.00	228.62	154.07%

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

Keding Enterprises Co., Ltd. AI Stock Analysis