Horizon Fixture Group Co., Ltd. (6957) AI Stock Analysis

Horizon Fixture Group Co., Ltd.

(TWSE:6957)

Select Model

Rating:64Neutral

Price Target:TWD 448.00▲(1.13% Upside)

Action:initiatedcoverage

Date:11/10/26

The score is supported primarily by profitability, adequate balance-sheet strength, positive free cash flow, and a favorable longer-term technical trend. These strengths are offset by declining recent operating performance, increased leverage, weaker cash-flow conversion, and an expensive P/E valuation.

Positive Factors

Revenue RecoveryThe 2025 revenue rebound indicates renewed demand for Horizon Fixture Group’s commercial fixture and retail-display solutions. While prior-year performance was modest, the stronger latest-year growth can support operating scale, customer reach, and continued investment over the next several quarters.

Negative Factors

Margin CompressionThe sustained decline in net margin indicates that revenue growth is not translating into profit at the earlier rate. If this trajectory continues, lower earnings conversion could limit reinvestment capacity, weaken returns, and make future profitability more sensitive to changes in demand or costs.

Horizon Fixture Group Co., Ltd. (6957) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 24.84B
Dividend Yield: 2.06%
Average Volume (3M): 426.59K
Price to Earnings (P/E): 47.3
Beta (1Y): 0.36
Revenue Growth: 8.92%
EPS Growth: -16.67%
Country: TW
Employees: 478
Sector: General
Sector Strength: 55
Industry: Furnishings, Fixtures & Appliances

Horizon Fixture Group Co., Ltd. Business Overview & Revenue Model

Company Description

Established in 1998 and headquartered in Nantou, Taiwan, Horizon Fixture Group Co., Ltd. specializes in the production and sale of various retail display solutions across Taiwan. Their product line features attractive shelving units, dynamic interact...

Horizon Fixture Group Co., Ltd. Financial Statement Overview

Summary

Profitable with healthy equity, positive free cash flow, and solid returns, but declining 2025 revenue and margins, higher debt, and weaker free-cash-flow growth indicate moderate financial strength.

Income Statement

65Positive

Balance Sheet

68Positive

Cash Flow

61Positive

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Mar 2024	Dec 2022	Dec 2021
Income Statement
Total Revenue	4.35B	3.82B	4.01B	3.86B	4.33B	3.53B
Gross Profit	1.64B	1.54B	1.74B	1.80B	1.49B	744.90M
EBITDA	953.31M	820.52M	1.15B	1.25B	852.02M	354.65M
Net Income	637.59M	560.61M	747.06M	879.85M	523.13M	192.95M
Balance Sheet
Total Assets	5.26B	5.16B	4.86B	3.20B	2.78B	2.14B
Cash, Cash Equivalents and Short-Term Investments	1.25B	1.08B	1.09B	1.39B	810.23M	211.72M
Total Debt	1.62B	1.65B	1.14B	580.26M	512.27M	547.23M
Total Liabilities	2.80B	2.51B	1.94B	1.51B	1.58B	1.50B
Stockholders Equity	2.37B	2.58B	2.92B	1.68B	1.20B	643.08M
Cash Flow
Free Cash Flow	303.66M	462.13M	102.58M	1.12B	792.67M	-36.91M
Operating Cash Flow	404.41M	568.68M	270.13M	1.17B	831.20M	5.35M
Investing Cash Flow	-41.43M	-96.36M	-1.56B	-65.31M	10.02M	-106.94M
Financing Cash Flow	-451.18M	-475.99M	965.44M	-524.88M	-251.54M	-114.26M

Horizon Fixture Group Co., Ltd. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:6957 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:9911	74Outperform	TWD 16.72B	11.68	―	6.61%	5.32%	8.99%
TW:2476	65Neutral	TWD 20.92B	15.52	―	2.99%	36.13%	60.59%
TW:6957	64Neutral	TWD 25.49B	47.25	―	2.06%	8.92%	-16.67%
TW:6584	63Neutral	TWD 22.35B	29.73	―	0.75%	44.48%	204.25%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
TW:2515	41Neutral	TWD 18.32B	22.48	―	―	1.46%	4.78%

* General Sector Average

Performance Comparison

TW:6957 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:6957	Horizon Fixture Group Co., Ltd.	443.00	244.34	122.99%
TW:2476	G-SHANK Enterprise Co., Ltd.	99.30	6.80	7.35%
TW:2515	BES Engineering Corp.	10.50	-5.21	-33.17%
TW:6584	NAN JUEN INTERNATIONAL CO., LTD.	324.50	25.19	8.41%
TW:7892	META Green Cooling Technology Co., Ltd.	385.50	32.93	9.34%
TW:9911	Taiwan Sakura Corporation	75.60	-3.82	-4.80%

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 10, 2026

Horizon Fixture Group Co., Ltd. AI Stock Analysis