Harmony Electronics Corp (8182) AI Stock Analysis

Harmony Electronics Corp

(TPEx:8182)

Select Model

Rating:41Neutral

Price Target:TWD 27.00▼(-12.34% Downside)

Action:initiatedcoverage

Date:11/09/26

Weak financial performance driven by margin compression and negative cash flows is the dominant factor, reinforced by bearish technical momentum.

Positive Factors

Strong 2025 Revenue GrowthThe strong 2025 revenue rebound indicates that Harmony retained or expanded demand despite recent earnings pressure. If the higher sales base can be maintained, it provides scale for operating improvement and creates a foundation for rebuilding margins and shareholder returns.

Negative Factors

Sharp Margin CompressionThe steep deterioration in gross and net margins shows that revenue growth is currently producing much less profit. Persistently weaker margins would limit reinvestment, reduce earnings resilience, and make future results more sensitive to pricing, costs, or product mix.

Harmony Electronics Corp (8182) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 3.30B
Dividend Yield: 0.81%
Average Volume (3M): 989.05K
Price to Earnings (P/E): 29.3
Beta (1Y): 1.06
Revenue Growth: 2.58%
EPS Growth: -14.39%
Country: TW
Employees: 1,091
Sector: General
Sector Strength: 55
Industry: Hardware, Equipment & Parts

Harmony Electronics Corp Business Overview & Revenue Model

Company Description

Harmony Electronics Co. Ltd, established in 1976 and based in Kaohsiung, Taiwan, specializes in the global manufacturing and distribution of precision frequency control devices. The company's diverse product range encompasses quartz crystals, crystal...

Harmony Electronics Corp Financial Statement Overview

Summary

Weakening profitability with gross margin at 14.2%, net margin at 1.6%, and negative free cash flow of -126.5 million outweigh moderate leverage and stable balance sheet.

Income Statement

38Negative

Balance Sheet

62Positive

Cash Flow

29Negative

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	2.89B	2.87B	2.93B	2.71B	2.88B	3.60B
Gross Profit	353.51M	406.62M	698.88M	485.90M	632.55M	1.03B
EBITDA	428.21M	410.95M	706.55M	519.08M	667.82M	926.75M
Net Income	112.02M	46.78M	261.46M	124.45M	267.35M	509.64M
Balance Sheet
Total Assets	5.65B	5.78B	6.12B	6.20B	5.89B	5.89B
Cash, Cash Equivalents and Short-Term Investments	1.20B	1.35B	1.84B	1.96B	1.28B	1.14B
Total Debt	1.24B	1.24B	1.28B	1.56B	1.80B	1.25B
Total Liabilities	2.05B	2.15B	2.30B	2.59B	2.49B	2.35B
Stockholders Equity	3.59B	3.63B	3.81B	3.61B	3.39B	3.53B
Cash Flow
Free Cash Flow	-262.47M	-126.50M	490.96M	720.09M	-144.13M	-185.68M
Operating Cash Flow	-138.90M	-12.55M	561.43M	868.70M	416.36M	657.42M
Investing Cash Flow	-165.27M	-8.23M	-330.64M	340.00K	-602.70M	-740.57M
Financing Cash Flow	-223.01M	-306.43M	-599.25M	-198.06M	299.73M	208.90M

Harmony Electronics Corp Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:8182 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:3332	77Outperform	TWD 2.88B	15.80	―	3.32%	16.93%	34.17%
TW:3484	64Neutral	TWD 3.26B	11.97	―	6.05%	-3.70%	-19.49%
TW:6266	63Neutral	TWD 3.32B	11.17	―	8.30%	-2.31%	-10.04%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
TW:6283	47Neutral	TWD 2.63B	-70.04	―	―	10.14%	-154.85%
TW:8182	41Neutral	TWD 3.26B	29.34	―	0.81%	2.58%	-14.39%

* General Sector Average

Performance Comparison

TW:8182 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:8182	Harmony Electronics Corp	30.80	5.09	19.81%
TW:3332	Cincon Electronics Co., Ltd.	60.30	-1.50	-2.43%
TW:3484	Solteam Incorporation	41.30	-5.35	-11.46%
TW:6266	Top Union Electronics Corp.	21.45	-5.95	-21.70%
TW:6283	Shun On Electronic Co., Ltd.	18.05	-7.80	-30.17%
TW:6775	Entire Technology Co Ltd	28.60	-0.59	-2.02%

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

Harmony Electronics Corp AI Stock Analysis