Greenyn Biotechnology Co., Ltd. (6846) AI Stock Analysis

Greenyn Biotechnology Co., Ltd.

(TPEx:6846)

Select Model

Rating:55Neutral

Price Target:TWD 50.00▲(2.04% Upside)

Action:initiatedcoverage

Date:11/09/26

Greenyn Biotechnology scores in the middle-lower range. The dominant factor is a weakening financial profile: although revenue growth and margins remain respectable, earnings have plateaued, debt rose more than tenfold in a single year, and free cash flow turned sharply negative on heavy capital spending, shifting the company from a conservative, cash-generative model to a leveraged expansion bet. Technicals compound the caution, with the price below all major moving averages and negative MACD confirming a persistent downtrend, despite deeply oversold oscillator readings. Offsetting these risks is an inexpensive valuation at roughly 10x earnings alongside an unusually high ~8% dividend yield, plus low volatility (beta 0.36), which provides some downside cushion for income-focused investors willing to accept execution risk on the company's capital deployment.

Positive Factors

Strong Revenue GrowthThe company has established a multi-year record of revenue expansion, with an especially strong acceleration in 2025. Sustained top-line growth can broaden its commercial base, support operating scale, and create a durable platform for continued investment in biopharmaceutical products and services.

Negative Factors

Sharp Leverage IncreaseThe rapid increase in debt relative to equity materially changes Greenyn’s financial risk profile. Higher leverage can increase interest and refinancing pressure, reduce flexibility during periods of weaker performance, and constrain the company’s ability to fund research or growth without additional financing.

Greenyn Biotechnology Co., Ltd. (6846) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 1.33B
Dividend Yield: 8.05%
Average Volume (3M): 12.90K
Price to Earnings (P/E): 10.2
Beta (1Y): 0.36
Revenue Growth: -3.09%
EPS Growth: -27.22%
Country: TW
Employees: 143
Sector: General
Sector Strength: 55
Industry: Biotechnology

Greenyn Biotechnology Co., Ltd. Business Overview & Revenue Model

Company Description

Greenyn Biotechnology Co., Ltd is an enterprise specializing in dietary supplements, dedicated to the development, production, and worldwide distribution of health-enhancing products. Their product portfolio includes a range of proprietary active ing...

Greenyn Biotechnology Co., Ltd. Financial Statement Overview

Summary

Greenyn remains profitable with healthy margins (gross ~48%, operating ~21%, net ~16%) and revenue growth to about NT$915 million, but the quality of that performance has deteriorated. Margins have compressed from their 2022 peak and net income of roughly NT$146 million is flat year over year despite nearly 30% more revenue. The balance sheet shifted dramatically as total debt jumped from about NT$66 million to NT$916 million, lifting debt-to-equity from 0.08 to 0.94, while ROE fell to 14.9% from 26.1%. Cash flow is the weakest link: operating cash flow fell to about NT$159 million (only ~73% of net income) and free cash flow swung to negative NT$236 million on roughly NT$395 million of capital spending. The result is a profitable business in an unproven, debt-funded expansion phase.

Income Statement

66Positive

Balance Sheet

52Neutral

Cash Flow

45Neutral

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Sep 2022
Income Statement
Total Revenue	867.63M	915.32M	873.24M	800.51M	705.31M	693.77M
Gross Profit	405.39M	440.04M	415.23M	392.46M	370.93M	358.02M
EBITDA	204.77M	224.08M	215.81M	192.40M	210.40M	193.67M
Net Income	127.24M	145.52M	146.00M	130.66M	146.74M	132.78M
Balance Sheet
Total Assets	2.47B	2.11B	1.11B	1.16B	834.81M	844.86M
Cash, Cash Equivalents and Short-Term Investments	1.18B	1.15B	552.53M	533.66M	370.45M	436.30M
Total Debt	1.22B	915.56M	65.71M	196.13M	85.73M	70.20M
Total Liabilities	1.55B	1.13B	257.32M	364.48M	272.80M	231.09M
Stockholders Equity	917.96M	978.56M	851.35M	796.91M	562.01M	613.76M
Cash Flow
Free Cash Flow	-333.10M	-236.18M	209.89M	37.73M	212.59M	64.05M
Operating Cash Flow	130.03M	158.90M	219.66M	127.10M	229.73M	81.79M
Investing Cash Flow	-674.50M	-753.95M	33.77M	-155.75M	-16.41M	-18.82M
Financing Cash Flow	499.45M	836.37M	-234.57M	191.86M	-199.15M	-90.98M

Greenyn Biotechnology Co., Ltd. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:6846 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:4173	57Neutral	TWD 1.33B	22.44	―	5.81%	10.77%	-35.84%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
TW:6846	55Neutral	TWD 1.33B	10.22	―	8.05%	-3.09%	-27.22%
TW:4190	43Neutral	TWD 1.29B	-13.57	―	2.30%	-1.05%	34.07%
TW:6431	38Underperform	TWD 1.45B	-7.50	―	―	-14.57%	13.16%

* General Sector Average

Performance Comparison

TW:6846 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:6846	Greenyn Biotechnology Co., Ltd.	49.00	-24.13	-32.99%
TW:4173	Arich Enterprise Co., Ltd.	17.90	-2.84	-13.70%
TW:4190	Jourdeness Group Ltd.	21.75	-9.03	-29.35%
TW:6431	Kuangli Bio-Tech Holdings Co., Ltd.	14.85	-1.45	-8.90%
TW:6886	Far East Bio-Tec. Co., Ltd.	38.65	-2.71	-6.56%
TW:6935	Prince Pharmaceutical Co., Ltd.	28.20	-1.01	-3.47%

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

Greenyn Biotechnology Co., Ltd. AI Stock Analysis