Ventec International Group Co., Ltd. (6672) AI Stock Analysis

Ventec International Group Co., Ltd.

(TWSE:6672)

Select Model

Rating:58Neutral

Price Target:TWD 482.00▼(-8.19% Downside)

Action:initiatedcoverage

Date:11/09/26

Ventec International scores in the middle of the range. The dominant factor is its financial profile: a fortress-like balance sheet with minimal debt and steady profitability, offset by stalled revenue growth, compressing returns on equity, and a sharp deterioration in cash flow that turned free cash flow negative. Technicals are supportive on a longer horizon — the stock sits well above its 50-, 100- and 200-day averages — but the recent drop below the 20-day average and depressed stochastics signal near-term consolidation. Valuation is the biggest drag: a P/E near 64 and a sub-1% dividend yield price in a growth recovery that the fundamentals have yet to deliver.

Positive Factors

Conservative Balance SheetLow leverage and a substantially larger equity base provide financial flexibility through industry cycles. This supports continued operations and investment while reducing balance-sheet strain, making the company better positioned to absorb volatility than a highly indebted materials supplier.

Negative Factors

Negative Free Cash FlowThe sharp reversal to negative free cash flow weakens cash conversion and increases execution risk even though prior years generated positive cash. If working-capital needs or spending remain elevated, internal funding for growth and shareholder returns could stay constrained.

Ventec International Group Co., Ltd. (6672) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 42.93B
Dividend Yield: 0.64%
Average Volume (3M): 6.79M
Price to Earnings (P/E): 72.6
Beta (1Y): 1.17
Revenue Growth: 54.27%
EPS Growth: 161.52%
Country: TW
Employees: 2,058
Sector: General
Sector Strength: 55
Industry: Hardware, Equipment & Parts

Ventec International Group Co., Ltd. Business Overview & Revenue Model

Company Description

Ventec International Group Co.,Ltd. engages in the research and development, production, and sale of copper clad laminates, aluminium-backed laminate, and prepreg bonding. The company’s products include standard FR4, lead free assembly, halogen free...

Ventec International Group Co., Ltd. Financial Statement Overview

Summary

A mixed picture anchored by an exceptionally strong balance sheet (score 81): equity funds about 71% of assets, debt-to-equity is just 0.10, and solvency risk is minimal, though return on equity has eroded from ~27% in 2021 to ~9.7%. The income statement (score 56) shows revenue stabilizing near NT$4.26bn after a multi-year decline from the 2021 peak of NT$7.67bn, with resilient gross margins (~32%) and a modest improvement in operating margin to ~9.6%, but net income slipped to ~NT$346mn, less than half of 2021 levels. Cash flow is the weak link (score 44): operating cash flow fell to ~NT$225mn from ~NT$634mn and heavy capex of ~NT$344mn pushed free cash flow to negative NT$119mn, with earnings-to-cash conversion deteriorating. Net-net, a conservatively financed and consistently profitable operator that has lost growth momentum and must prove current investments restore cash generation.

Income Statement

56Neutral

Balance Sheet

81Very Positive

Cash Flow

44Neutral

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	5.00B	4.26B	4.23B	4.74B	5.61B	7.67B
Gross Profit	1.68B	1.37B	1.42B	1.52B	1.58B	2.32B
EBITDA	808.36M	582.02M	583.38M	731.24M	779.90M	1.24B
Net Income	540.25M	346.14M	356.80M	431.66M	466.43M	827.81M
Balance Sheet
Total Assets	6.81B	5.00B	4.87B	4.66B	5.02B	6.19B
Cash, Cash Equivalents and Short-Term Investments	1.56B	994.28M	1.41B	895.05M	799.08M	737.40M
Total Debt	233.05M	340.59M	153.50M	186.22M	505.74M	909.56M
Total Liabilities	2.00B	1.43B	1.40B	1.45B	1.93B	3.14B
Stockholders Equity	4.80B	3.57B	3.47B	3.22B	3.09B	3.05B
Cash Flow
Free Cash Flow	-166.05M	-118.75M	547.18M	660.24M	1.38B	-36.97M
Operating Cash Flow	216.22M	225.01M	634.29M	743.02M	1.47B	121.08M
Investing Cash Flow	-586.54M	-105.60M	-193.36M	55.72M	-375.49M	-335.37M
Financing Cash Flow	535.72M	-141.13M	-309.22M	-601.09M	-944.99M	103.70M

Ventec International Group Co., Ltd. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:6672 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:8039	60Neutral	TWD 56.59B	73.94	―	0.88%	2.53%	118.11%
TW:6278	59Neutral	TWD 63.74B	21.85	―	2.33%	5.43%	16.09%
TW:6672	58Neutral	TWD 41.33B	72.55	―	0.64%	54.27%	161.52%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
TW:5469	54Neutral	TWD 35.64B	14.80	―	3.30%	31.04%	-20.68%
TW:2367	44Neutral	TWD 26.41B	-51.36	―	0.51%	96.36%	-186.89%
TW:3715	40Underperform	TWD 33.75B	-123.68	―	0.83%	42.69%	-138.02%

* General Sector Average

Performance Comparison

TW:6672 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:6672	Ventec International Group Co., Ltd.	525.00	434.49	480.07%
TW:2367	Unitech Printed Circuit Board Corp.	39.55	13.69	52.96%
TW:3715	Dynamic Holding Co Ltd	130.50	1.04	0.80%
TW:5469	HannStar Board Corp.	76.50	-16.41	-17.66%
TW:6278	Taiwan Surface Mounting Technology Corp.	238.50	136.91	134.76%
TW:8039	TAIFLEX Scientific Co., Ltd.	227.00	159.20	234.80%

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

Ventec International Group Co., Ltd. AI Stock Analysis