PChome Online, Inc. AI Stock Analysis
PChome Online, Inc. (8044) AI Stock Analysis
PChome Online, Inc.
(TPEx:8044)
PChome Online scores low primarily because of deteriorating fundamentals: a fourth consecutive year of revenue decline, a third straight net loss, compressing gross margins, and a return to negative operating and free cash flow, all against leverage of about 1.76x equity and negative ROE. Technicals reinforce the caution, with the stock trading below all major moving averages and a negative MACD, although deeply oversold RSI and Stochastic readings leave room for a short-term bounce. Valuation provides no cushion — the P/E is negative due to losses and there is no dividend. A sustained improvement would require revenue stabilization, margin recovery and a return to positive operating cash flow.
PChome Online, Inc. (8044) vs. SPDR S&P 500 ETF (SPY)
- Market Cap
- TWD 4.32B
- Dividend Yield
- ―
- Average Volume (3M)
- 460.42K
- Price to Earnings (P/E)
- -5.7
- Beta (1Y)
- 0.59
- Revenue Growth
- 4.49%
- EPS Growth
- 19.29%
- Country
- TW
- Employees
- 1,893
- Sector
- General
- Sector Strength
- 55
- Industry
- Specialty Retail
PChome Online, Inc. Business Overview & Revenue Model
Company Description
PChome Online Inc., established in Taipei, Taiwan, in 1996, provides a comprehensive array of e-commerce and online portal services. Operating globally, including in China, its business is structured across three main segments: E-Commerce-Sales, Mark...
PChome Online, Inc. Financial Statement Overview
Summary
Financials are weak across all three statements. Revenue has declined for four consecutive years (NT$48.6bn in 2021 to NT$36.9bn in 2025), gross margin compressed to 11.1%, and the company swung back to an operating loss with a widened net loss of NT$921m — a third straight annual loss. Cash generation is the biggest concern: operating cash flow turned negative at -NT$1.02bn and free cash flow was -NT$1.06bn, negative in four of the last five years, implying dependence on external funding. Leverage is elevated at roughly 1.76x debt-to-equity with equity just 20% of assets, and ROE is -13.7%. Offsets are modest: still-positive EBITDA (NT$390m), a year-over-year increase in equity, an expanded asset base, and low capital intensity that limits the cash drain.
Income Statement
21NegativeBalance Sheet
34NegativeCash Flow
18Very Negative| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 38.46B | 36.86B | 37.56B | 41.07B | 46.10B | 48.58B |
| Gross Profit | 4.73B | 4.09B | 4.89B | 4.76B | 5.44B | 5.56B |
| EBITDA | 708.21M | 390.50M | 767.20M | 706.03M | 1.46B | 1.20B |
| Net Income | -766.43M | -920.61M | -576.33M | -659.90M | 43.59M | 62.24M |
Balance Sheet | ||||||
| Total Assets | 32.23B | 32.92B | 26.44B | 27.46B | 26.59B | 24.43B |
| Cash, Cash Equivalents and Short-Term Investments | 4.92B | 5.94B | 4.60B | 4.69B | 6.86B | 9.12B |
| Total Debt | 11.26B | 11.77B | 11.18B | 11.38B | 9.07B | 7.21B |
| Total Liabilities | 23.50B | 24.18B | 18.43B | 18.90B | 18.15B | 16.78B |
| Stockholders Equity | 6.52B | 6.70B | 5.77B | 6.50B | 6.38B | 6.33B |
Cash Flow | ||||||
| Free Cash Flow | -1.18B | -1.06B | -366.63M | -1.79B | -1.01B | 160.57M |
| Operating Cash Flow | -1.12B | -1.02B | 265.10M | -943.77M | -756.50M | 736.87M |
| Investing Cash Flow | -2.25B | -2.08B | -723.93M | -1.32B | -1.75B | -2.10B |
| Financing Cash Flow | 3.19B | 3.53B | -217.53M | -312.61M | 1.21B | 1.38B |
PChome Online, Inc. Peers Comparison
Overall Rating
TW:305471Outperform
TW:275570Outperform
TW:291066Neutral
TW:270163Neutral- TW:804429Underperform
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| TW:3054 | 71Outperform | TWD 4.51B | 6.33 | ― | 1.40% | 297.86% | 1345.78% |
| TW:2755 | 70Outperform | TWD 4.12B | 14.26 | ― | 3.98% | 19.14% | 22.20% |
| TW:2910 | 66Neutral | TWD 3.89B | 12.06 | ― | 4.68% | 1.41% | 40.69% |
| TW:2701 | 63Neutral | TWD 4.57B | 17.22 | ― | 2.76% | -1.47% | 11.32% |
| Sector * | 55Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
| TW:8044 | 29Underperform | TWD 4.35B | -5.66 | ― | ― | 4.49% | 19.29% |
* General Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| TW:8044 | PChome Online, Inc. | 21.55 | -8.85 | -29.11% | |
| TW:2701 | Wanhwa Enterprise Company | 10.15 | -0.66 | -6.09% | |
| TW:2755 | YoungQin International Co. Ltd. | 88.00 | -5.86 | -6.24% | |
| TW:2910 | Tonlin Department Store Co., Ltd. | 22.20 | 2.00 | 9.93% | |
| TW:3054 | LIWANLI Innovation Co., Ltd. | 57.20 | 34.48 | 151.77% | |
| TW:7867 | Test Rite Retail Co., Ltd. | 42.60 | -6.29 | -12.86% |
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