Taiwan PCB Techvest Co., Ltd. (8213) AI Stock Analysis

Taiwan PCB Techvest Co., Ltd.

(TWSE:8213)

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Rating:52Neutral

Price Target:TWD 37.00▼(-4.27% Downside)

Action:initiatedcoverage

Date:11/10/26

The score is primarily constrained by deteriorating profitability and materially weaker cash generation, including negative free cash flow. A manageable balance sheet, moderate valuation, positive MACD, and the stock trading above most longer-term moving averages provide partial support.

Positive Factors

Manageable leverage and growing equityManageable leverage and a steadily expanding equity base provide financial resilience and preserve funding flexibility. This structure can help the company absorb cyclical PCB demand changes, continue investing in operations, and avoid excessive dependence on debt over the next several quarters.

Negative Factors

Sharp deterioration in cash generationThe abrupt decline in operating cash flow and reversal to negative free cash flow weaken the company’s ability to fund investment and distributions internally. If this persists, working-capital or investment demands could increase funding needs and create greater liquidity pressure.

Taiwan PCB Techvest Co., Ltd. (8213) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 11.53B
Dividend Yield: 2.95%
Average Volume (3M): 2.13M
Price to Earnings (P/E): 21.1
Beta (1Y): 0.70
Revenue Growth: 18.58%
EPS Growth: 1.07%
Country: TW
Employees: 8,185
Sector: General
Sector Strength: 55
Industry: Hardware, Equipment & Parts

Taiwan PCB Techvest Co., Ltd. Business Overview & Revenue Model

Company Description

Operating as a dedicated manufacturing service enterprise, Taiwan Pcb Techvest Co., Ltd. specializes in the production and distribution of electronic components and printed circuit boards (PCBs). The company supplies PCBs for diverse uses, including...

Taiwan PCB Techvest Co., Ltd. Financial Statement Overview

Summary

Financial performance is pressured by declining margins and net income, sharply lower operating cash flow, and negative free cash flow. The relatively sound balance sheet and moderate debt-to-equity ratio provide support.

Income Statement

48Neutral

Balance Sheet

68Positive

Cash Flow

25Negative

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	19.34B	18.37B	17.71B	18.93B	21.98B	27.50B
Gross Profit	2.06B	2.12B	2.19B	2.80B	3.39B	4.32B
EBITDA	1.80B	1.90B	2.19B	2.81B	3.07B	4.33B
Net Income	533.14M	614.47M	746.26M	1.09B	1.47B	2.26B
Balance Sheet
Total Assets	33.84B	31.35B	30.73B	29.70B	28.73B	32.18B
Cash, Cash Equivalents and Short-Term Investments	11.38B	11.48B	11.43B	11.08B	9.82B	8.77B
Total Debt	7.42B	7.17B	6.96B	7.87B	6.24B	7.30B
Total Liabilities	16.18B	14.50B	14.16B	14.30B	13.44B	17.53B
Stockholders Equity	17.00B	16.21B	15.94B	14.74B	14.64B	14.04B
Cash Flow
Free Cash Flow	-1.07B	-131.57M	1.40B	758.26M	3.28B	458.17M
Operating Cash Flow	-563.43M	575.20M	2.28B	2.29B	4.81B	1.52B
Investing Cash Flow	-1.44B	-3.87B	-1.11B	-1.74B	-1.77B	181.12M
Financing Cash Flow	317.02M	-144.29M	-1.22B	892.52M	-2.25B	-2.86B

Taiwan PCB Techvest Co., Ltd. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:8213 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:3217	76Outperform	TWD 9.60B	8.43	―	9.39%	-3.83%	-10.19%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
TW:8213	52Neutral	TWD 10.10B	21.07	―	2.95%	18.58%	1.07%
TW:6190	51Neutral	TWD 10.53B	23.09	―	3.42%	9.36%	9.27%
TW:3455	50Neutral	TWD 11.27B	53.65	―	1.81%	-23.10%	33.40%
TW:6153	37Underperform	TWD 9.64B	-5.75	―	―	-4.12%	27.98%
TW:3049	31Underperform	TWD 9.86B	35.87	―	―	-35.02%	―

* General Sector Average

Performance Comparison

TW:8213 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:8213	Taiwan PCB Techvest Co., Ltd.	38.65	4.48	13.11%
TW:3049	HannsTouch Holdings Company	12.30	5.43	79.04%
TW:3217	Argosy Research Inc.	106.50	-68.78	-39.24%
TW:3455	UTECHZONE Co., Ltd.	193.50	109.84	131.29%
TW:6153	Career Technology (MFG.) Co., Ltd	15.15	-0.20	-1.30%
TW:6190	Wonderful Hi-Tech Co., Ltd.	56.60	16.71	41.90%

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

Taiwan PCB Techvest Co., Ltd. AI Stock Analysis