Skip to main content

Go Premium in Our Biggest Sale Ever

UPGRADE NOW
TipRanks
Go Ultimate75% OFF

Nan Ya Printed Circuit Board Corporation (8046) AI Stock Analysis

TW:8046

Nan Ya Printed Circuit Board Corporation

(TWSE:8046)

Select Model
Rating:53Neutral
Price Target:TWD 888.00▼(-17.78% Downside)
Action:initiatedcoverage
Date:11/10/26

The score is supported by a highly conservative balance sheet and improving 2025 operating performance, but weak cash conversion, bearish technical positioning, and especially elevated valuation materially constrain the outlook.

Positive Factors
Low LeverageThe very low debt-to-equity ratio gives Nan Ya PCB substantial financial flexibility through industry cycles. A conservative capital structure can reduce financing pressure, preserve capacity for investment, and improve resilience when electronics demand or operating margins weaken.
Negative Factors
Below-Peak ProfitabilityThe incomplete margin recovery demonstrates that profitability remains exposed to cyclical conditions and less favorable pricing or product mix. Until margins approach prior-cycle levels, earnings growth may remain less durable and more sensitive to changes in electronics demand.

Nan Ya Printed Circuit Board Corporation (8046) vs. SPDR S&P 500 ETF (SPY)

-100%0%100%200%300%400%500%TW:8046+283.10%SPY+14.28%Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
Market Cap
TWD 652.63B
Dividend Yield
0.19%
Average Volume (3M)
11.54M
Price to Earnings (P/E)
123.4
Beta (1Y)
1.75
Revenue Growth
41.80%
EPS Growth
773.78%
Country
TW
Employees
13,451
Sector
General
Sector Strength
55
Industry
Hardware, Equipment & Parts

Nan Ya Printed Circuit Board Corporation Business Overview & Revenue Model

Company Description

Nan Ya Printed Circuit Board Corporation specializes in the production and global distribution of both printed circuit boards (PCBs) and integrated circuit (IC) substrates, serving markets across Taiwan, Mainland China, Korea, and internationally. It...

Nan Ya Printed Circuit Board Corporation Financial Statement Overview

Summary

The balance sheet is very strong, while revenue and profitability improved in 2025. However, margins remain below historical peaks and free-cash-flow conversion is weak and volatile.

Income Statement

63Positive

Balance Sheet

90Very Positive

Cash Flow

45Neutral
Financial statement breakdown
BreakdownTTMDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue46.88B40.17B32.28B42.25B64.65B52.23B
Gross Profit7.56B3.65B357.70M8.16B25.87B14.88B
EBITDA13.55B9.25B6.61B13.01B29.67B16.71B
Net Income5.50B1.95B203.73M5.82B19.42B10.58B
Balance Sheet
Total Assets64.84B61.21B62.94B70.44B81.75B56.35B
Cash, Cash Equivalents and Short-Term Investments10.55B8.71B8.59B12.57B20.04B13.19B
Total Debt1.11B1.23B1.48B1.69B1.91B2.27B
Total Liabilities15.58B15.08B17.49B22.53B28.03B15.87B
Stockholders Equity49.26B46.12B45.45B47.91B53.72B40.48B
Cash Flow
Free Cash Flow3.96B625.40M-219.12M4.73B15.39B7.48B
Operating Cash Flow5.89B3.05B2.16B16.51B32.31B15.93B
Investing Cash Flow-2.56B-1.74B-2.60B-12.25B-16.87B-5.39B
Financing Cash Flow-866.40M-886.75M-3.84B-11.81B-8.67B-2.89B

Nan Ya Printed Circuit Board Corporation Peers Comparison

Overall Rating

UnderperformOutperform
Sector (55)

Financial Indicators

TW:8046 against its peers
NameOverall RatingMarket CapP/E RatioROEDividend YieldRevenue GrowthEPS Growth
TW:3044TW:304474OutperformTWD 248.87B18.82―2.44%33.62%56.16%
TW:2313TW:231360NeutralTWD 225.17B31.05―1.45%11.13%24.42%
TW:2368TW:236858NeutralTWD 515.95B30.67―0.93%67.57%111.31%
Sector *55Neutral$6.65B3.83-15.92%6.20%10.91%7.18%
TW:3189TW:318953NeutralTWD 392.55B74.05―0.20%33.81%547.63%
TW:8046TW:804653NeutralTWD 649.40B123.38―0.19%41.80%773.78%
TW:4958TW:495850NeutralTWD 487.94B43.90―0.74%15.88%26.11%

* General Sector Average

Performance Comparison

0%200%400%600%TW:8046TW:2313TW:2368TW:3044TW:3189TW:4958Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
TW:8046 and its peers over the selected period
Show on chartTickerCompany NamePriceChange% Change
TW:8046Nan Ya Printed Circuit Board Corporation1080.00788.61270.64%
TW:2313Compeq Manufacturing Co., Ltd.192.50108.44128.99%
TW:2368Gold Circuit Electronics Ltd1050.00486.9986.50%
TW:3044Tripod Technology Corporation520.00210.5668.04%
TW:3189Kinsus Interconnect Technology Corp.741.00601.54431.34%
TW:4958Zhen Ding Technology Holding Limited461.00311.03207.39%
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