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Unictron Technologies Corporation (6792) AI Stock Analysis

TW:6792

Unictron Technologies Corporation

(TWSE:6792)

Select Model
Rating:61Neutral
Price Target:TWD 56.00â–²(7.69% Upside)
Action:initiatedcoverage
Date:11/09/26

Unictron scores in the moderate range. Its greatest strength is financial resilience: an almost debt-free, equity-funded balance sheet supporting an early earnings recovery, with revenue growing again and margins widening off 2024 lows. Offsetting this, profitability and returns remain far below prior-cycle peaks and rising capital spending has halved free cash flow. The main drag is technical — the stock trades below all major moving averages with negative MACD momentum, though oversold RSI and Stochastic readings suggest the selling may be nearing exhaustion. A reasonable 17.6x P/E and a well-covered 4.68% dividend yield provide valuation support while the margin recovery proves itself.

Positive Factors
Very Low LeverageA very low debt burden gives Unictron substantial financial flexibility through the next several quarters. It reduces interest and refinancing pressure, improves resilience if demand weakens, and leaves more capacity to fund operations or strategic investment without relying heavily on external capital.
Negative Factors
Weak Free Cash Flow ConversionThe sharp decline in free cash flow and conversion of only about half of net income indicate that reported earnings are not translating efficiently into deployable cash. Persistent weakness could constrain reinvestment, dividends, or debt-free expansion and may reflect higher working-capital or investment demands.

Unictron Technologies Corporation (6792) vs. SPDR S&P 500 ETF (SPY)

-10%0%10%20%30%40%TW:6792+3.19%SPY+12.79%Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
Market Cap
TWD 2.47B
Dividend Yield
4.81%
Average Volume (3M)
38.35K
Price to Earnings (P/E)
17.2
Beta (1Y)
0.88
Revenue Growth
6.41%
EPS Growth
14.62%
Country
TW
Employees
499
Sector
General
Sector Strength
55
Industry
Hardware, Equipment & Parts

Unictron Technologies Corporation Business Overview & Revenue Model

Company Description

Unictron Technologies Corp. engages in the manufacture and sale of antennas and piezoelectric ceramics. Its products include chip antennas, patch antennas, custom made antennas, antenna modules, external active antenna modules, major antenna applicat...

Unictron Technologies Corporation Financial Statement Overview

Summary

A very strong balance sheet (score 81) anchors the profile: debt-to-equity of just 0.03, equity funding ~79% of assets, and minimal financial risk. The income statement (score 60) shows an early-stage recovery — revenue up ~3% TTM to NT$1.40bn after a multi-year decline, with gross margin rebounding to 33.6% and net margin to 10.2% — but earnings power remains roughly half of the 2021–2022 peak. Cash flow (score 65) is reliably positive, with operating cash flow of NT$181m exceeding net income of NT$142m, though heavier capex cut free cash flow about 51% to NT$89m, trimming conversion to ~49% of net income.

Income Statement

60Neutral

Balance Sheet

81Very Positive

Cash Flow

65Positive
Financial statement breakdown
BreakdownTTMDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue1.40B1.32B1.23B1.38B1.50B1.71B
Gross Profit470.30M421.68M350.58M498.22M591.39M723.38M
EBITDA248.47M248.14M234.99M353.38M414.69M431.89M
Net Income142.39M104.48M98.63M195.97M269.77M291.02M
Balance Sheet
Total Assets1.98B1.95B2.05B2.08B2.25B2.44B
Cash, Cash Equivalents and Short-Term Investments930.54M974.12M1.01B850.49M899.86M1.12B
Total Debt49.12M78.87M97.20M29.88M129.83M107.99M
Total Liabilities409.88M429.88M458.11M359.45M558.30M661.52M
Stockholders Equity1.57B1.52B1.59B1.72B1.69B1.78B
Cash Flow
Free Cash Flow89.06M189.83M145.72M206.09M69.66M286.29M
Operating Cash Flow181.44M247.64M239.19M279.32M224.51M371.49M
Investing Cash Flow-77.70M84.86M121.21M-156.64M-387.92M-59.79M
Financing Cash Flow-148.89M-171.50M-171.22M-343.32M-355.17M456.49M

Unictron Technologies Corporation Peers Comparison

Overall Rating

UnderperformOutperform
Sector (55)

Financial Indicators

TW:6792 against its peers
NameOverall RatingMarket CapP/E RatioROEDividend YieldRevenue GrowthEPS Growth
TW:6799TW:679968NeutralTWD 2.93B14.04―3.62%5.45%64.05%
TW:6133TW:613363NeutralTWD 2.53B19.73―4.63%12.37%113.11%
TW:6792TW:679261NeutralTWD 2.49B17.16―4.81%6.41%14.62%
Sector *55Neutral$6.65B3.83-15.92%6.20%10.91%7.18%
TW:2462TW:246242NeutralTWD 2.60B28.44―1.16%-5.46%―
TW:4545TW:454540UnderperformTWD 2.68B44.42―0.37%1.97%1277.45%

* General Sector Average

Performance Comparison

-50%0%50%TW:6792TW:2462TW:4545TW:6133TW:6722TW:6799Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
TW:6792 and its peers over the selected period
Show on chartTickerCompany NamePriceChange% Change
TW:6792Unictron Technologies Corporation52.001.032.02%
TW:2462TAIWAN LINE TEK ELECTRONIC CO., LTD.17.25-4.86-21.97%
TW:4545Min Aik Precision Industrial Co., Ltd.34.751.885.70%
TW:6133Golden Bridge Electech Inc.21.606.2140.31%
TW:6722Whetron Electronics Co., Ltd.29.65-27.95-48.53%
TW:6799M3 Technology Inc69.10-8.62-11.09%
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