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BenQ Materials Corp. (8215) AI Stock Analysis

TW:8215

BenQ Materials Corp.

(TWSE:8215)

Select Model
Rating:38Underperform
Price Target:TWD 22.00â–¼(-11.47% Downside)
Action:initiatedcoverage
Date:11/10/26

Poor financial performance with collapsing profitability, high leverage, and negative free cash flow is the dominant factor. Weak technical momentum with price below moving averages and negative MACD further pressures the score. Negative P/E from losses limits valuation support.

Positive Factors
Strong TTM Revenue GrowthThe 202.1% TTM revenue increase shows that BenQ Materials is gaining substantial sales volume across its materials activities. If retained, this expanded revenue base can improve operating scale, deepen customer relationships, and create a foundation for restoring profitability as demand and product mix develop.
Negative Factors
Elevated LeverageDebt has risen materially while equity has trended down, lifting debt-to-equity to approximately 2.34x from roughly 0.41–0.47x in 2021–2022. This weakens financial flexibility, raises financing sensitivity, and limits the company’s room to absorb prolonged losses or fund expansion internally.

BenQ Materials Corp. (8215) vs. SPDR S&P 500 ETF (SPY)

-10%0%10%20%30%40%50%60%70%TW:8215+26.43%SPY+14.30%Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
Market Cap
TWD 8.16B
Dividend Yield
1.21%
Average Volume (3M)
1.68M
Price to Earnings (P/E)
-11.0
Beta (1Y)
0.77
Revenue Growth
1.47%
EPS Growth
-10391.82%
Country
TW
Employees
1,715
Sector
General
Sector Strength
55
Industry
Hardware, Equipment & Parts

BenQ Materials Corp. Business Overview & Revenue Model

Company Description

BenQ Materials Corporation, an enterprise based in Taoyuan, Taiwan, specializes in the development and distribution of advanced material science products. The company's diverse product portfolio features a range of functional films, including crucial...

BenQ Materials Corp. Financial Statement Overview

Summary

TTM revenue grew modestly at 2% but profitability collapsed into losses with negative margins. Gross margins compressed to 13.4%. Debt quadrupled driving debt-to-equity to 2.34, and free cash flow turned sharply negative after an 81% drop.

Income Statement

29Negative

Balance Sheet

22Negative

Cash Flow

37Negative
Financial statement breakdown
BreakdownTTMDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue18.71B17.85B18.59B17.13B15.54B16.48B
Gross Profit2.51B2.58B3.36B3.18B3.08B3.06B
EBITDA512.09M780.70M1.49B1.65B1.37B1.59B
Net Income-726.06M-364.46M199.21M414.35M1.30B971.55M
Balance Sheet
Total Assets23.69B23.22B22.63B20.56B13.70B12.51B
Cash, Cash Equivalents and Short-Term Investments865.18M985.35M808.10M1.44B777.05M426.61M
Total Debt11.06B10.62B8.80B6.72B2.84B2.05B
Total Liabilities16.51B15.66B14.32B11.80B7.45B7.35B
Stockholders Equity4.72B5.13B5.72B5.80B6.05B5.04B
Cash Flow
Free Cash Flow-248.18M-1.17B-1.91B-459.21M-827.47M368.51M
Operating Cash Flow448.49M451.97M556.99M1.09B389.26M1.01B
Investing Cash Flow-1.14B-1.83B-1.78B-4.02B82.48M-645.77M
Financing Cash Flow681.76M1.41B1.26B2.89B-102.98M-213.19M

BenQ Materials Corp. Peers Comparison

Overall Rating

UnderperformOutperform
Sector (55)

Financial Indicators

TW:8215 against its peers
NameOverall RatingMarket CapP/E RatioROEDividend YieldRevenue GrowthEPS Growth
TW:6861TW:686163NeutralTWD 7.45B22.89―1.10%40.99%129.85%
TW:3645TW:364559NeutralTWD 7.63B26.45―2.11%-4.08%94.00%
Sector *55Neutral$6.65B3.83-15.92%6.20%10.91%7.18%
TW:8942TW:894252NeutralTWD 7.77B7.30―2.56%-40.13%47.76%
TW:8215TW:821538UnderperformTWD 8.10B-11.01―1.21%1.47%-10391.82%

* General Sector Average

Performance Comparison

0%200%400%600%TW:8215TW:3645TW:6861TW:6947TW:7717TW:8942Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
TW:8215 and its peers over the selected period
Show on chartTickerCompany NamePriceChange% Change
TW:8215BenQ Materials Corp.24.855.2026.43%
TW:3645Taimide Tech, Inc.56.801.552.80%
TW:6861InnoCare Optoelectronics Corp.181.50123.48212.85%
TW:6947Techzone Technology Materials Co. Ltd.62.80-13.80-18.02%
TW:7717Lightel Corp430.00261.13154.63%
TW:8942Xxentria Technology Materials Co.,Ltd39.003.108.63%
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