Keystone Microtech Co. AI Stock Analysis
Keystone Microtech Co. (6683) AI Stock Analysis
Keystone Microtech Co.
(TPEx:6683)
Keystone Microtech earns a moderate score. The foundation is solid: double-digit revenue growth, a virtually debt-free balance sheet with equity funding over 80% of assets, and strong free cash flow recovery in 2025. However, meaningful margin compression across gross, operating and net lines caused profits to fall despite higher sales, and returns on equity have trended lower since 2021. Technicals are the biggest drag — the stock sits well below all major moving averages with sharply negative MACD, indicating a persistent downtrend amid high volatility. Valuation adds caution, with a P/E near 37 against declining earnings and only a modest 1.15% dividend yield. The financial strength supports resilience, but momentum and valuation argue for patience until margins and price trend stabilize.
Keystone Microtech Co. (6683) vs. SPDR S&P 500 ETF (SPY)
- Market Cap
- TWD 27.10B
- Dividend Yield
- 0.93%
- Average Volume (3M)
- 976.43K
- Price to Earnings (P/E)
- 42.8
- Beta (1Y)
- 1.87
- Revenue Growth
- 26.06%
- EPS Growth
- 52.23%
- Country
- TW
- Employees
- 310
- Sector
- General
- Sector Strength
- 55
- Industry
- Semiconductors
Keystone Microtech Co. Business Overview & Revenue Model
Company Description
Keystone Microtech Corporation is an active participant in the semiconductor industry, serving both its domestic market in Taiwan and international clients. The company's specialized product portfolio includes essential components such as load boards...
Keystone Microtech Co. Financial Statement Overview
Summary
A strong, conservative financial profile. Revenue grew about 23% in 2025 to NT$2.14 billion, following a similar gain in 2024, and the balance sheet is essentially debt-free (debt-to-equity near 0.006) with equity funding roughly 81% of assets — exceptional flexibility for a cyclical semiconductor supplier. Cash generation was excellent: operating cash flow rose 24% to NT$585 million (about 1.4x net income) and free cash flow swung to NT$537 million after a heavy capex year. The key offset is margin compression — gross margin fell to 46.1% from 53.0%, operating margin to 25.2% from 33.7%, and net income declined about 13% despite higher sales — with ROE drifting down to 15.4% from a 2021 peak of 22.6%.
Income Statement
71PositiveBalance Sheet
90Very PositiveCash Flow
83Very Positive| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.45B | 2.14B | 1.74B | 1.41B | 1.53B | 1.48B |
| Gross Profit | 1.19B | 985.50M | 920.22M | 705.60M | 747.94M | 805.52M |
| EBITDA | 773.35M | 623.29M | 653.34M | 510.86M | 585.45M | 585.03M |
| Net Income | 617.34M | 419.05M | 479.82M | 354.20M | 406.45M | 419.70M |
Balance Sheet | ||||||
| Total Assets | 3.77B | 3.37B | 3.06B | 2.58B | 2.46B | 2.28B |
| Cash, Cash Equivalents and Short-Term Investments | 1.61B | 1.47B | 1.24B | 1.43B | 1.18B | 989.32M |
| Total Debt | 11.63M | 15.27M | 10.51M | 8.91M | 7.16M | 6.98M |
| Total Liabilities | 946.44M | 653.58M | 513.84M | 358.05M | 395.56M | 423.43M |
| Stockholders Equity | 2.83B | 2.71B | 2.55B | 2.22B | 2.06B | 1.86B |
Cash Flow | ||||||
| Free Cash Flow | 621.70M | 537.05M | -55.16M | 459.17M | 353.31M | 273.44M |
| Operating Cash Flow | 701.25M | 584.72M | 473.40M | 491.95M | 410.59M | 348.40M |
| Investing Cash Flow | -85.21M | -40.17M | -422.61M | -148.43M | -36.05M | 176.69M |
| Financing Cash Flow | -282.33M | -282.37M | -186.79M | -212.47M | -216.91M | -140.75M |
Keystone Microtech Co. Peers Comparison
Overall Rating
TW:458375Outperform
TW:664064Neutral- TW:668364Neutral
TW:658463Neutral
TW:457656Neutral
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| TW:4583 | 75Outperform | TWD 27.58B | 24.59 | ― | 2.84% | 13.85% | 24.76% |
| TW:6640 | 64Neutral | TWD 22.20B | 38.13 | ― | 1.79% | 38.95% | 50.60% |
| TW:6683 | 64Neutral | TWD 25.68B | 42.77 | ― | 0.93% | 26.06% | 52.23% |
| TW:6584 | 63Neutral | TWD 22.35B | 29.73 | ― | 0.75% | 44.48% | 204.25% |
| TW:4576 | 56Neutral | TWD 22.04B | 60.86 | ― | 0.41% | 33.61% | 188.28% |
| Sector * | 55Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| TW:6683 | Keystone Microtech Co. | 971.00 | 583.47 | 150.56% | |
| TW:4573 | GMT Global Inc. | 517.00 | 450.11 | 672.90% | |
| TW:4576 | HIWIN Mikrosystem Corp. | 194.50 | 86.39 | 79.91% | |
| TW:4583 | Apex Dynamics, Inc. | 352.00 | -319.96 | -47.62% | |
| TW:6584 | NAN JUEN INTERNATIONAL CO., LTD. | 324.50 | 25.19 | 8.41% | |
| TW:6640 | Gallant Micro Machining Co. Ltd. | 840.00 | 245.11 | 41.20% |
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