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Progate Group Corporation (8227) AI Stock Analysis

TW:8227

Progate Group Corporation

(TPEx:8227)

Select Model
Rating:54Neutral
Price Target:TWD 199.00â–¼(-14.96% Downside)
Action:initiatedcoverage
Date:11/10/26

The score is primarily supported by the exceptionally strong balance sheet and renewed revenue growth, but is weighed down by deteriorating cash flow, margin compression, weak technical momentum, and relatively unattractive valuation.

Positive Factors
Very Low LeverageExtremely low leverage reduces financial risk and preserves flexibility for investment, operating needs, or downturn protection. The minimal debt burden also limits interest pressure, allowing the company to retain more of its operating resources while pursuing growth over the coming quarters.
Negative Factors
Negative Free Cash FlowA shift to negative free cash flow weakens the quality of earnings and may constrain internally funded investment or shareholder distributions. If sustained, higher operating or investment needs could increase reliance on the balance sheet and make financial performance more volatile.

Progate Group Corporation (8227) vs. SPDR S&P 500 ETF (SPY)

-25%0%25%50%75%100%125%150%175%TW:8227+59.01%SPY+14.30%Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
Market Cap
TWD 8.16B
Dividend Yield
0.73%
Average Volume (3M)
2.53M
Price to Earnings (P/E)
45.0
Beta (1Y)
1.58
Revenue Growth
126.25%
EPS Growth
461.53%
Country
TW
Employees
79
Sector
General
Sector Strength
55
Industry
Semiconductors

Progate Group Corporation Business Overview & Revenue Model

Company Description

Progate Group Corporation is a global provider of comprehensive integrated circuit (IC) design services. The company specializes in end-to-end solutions spanning a wide spectrum of IC development needs. Its offerings include full ASIC development, im...

Progate Group Corporation Financial Statement Overview

Summary

Revenue and net income recovered, and the balance sheet is exceptionally strong with minimal debt. However, margin compression, weak earnings-to-cash conversion, and negative free cash flow materially reduce the score.

Income Statement

63Positive

Balance Sheet

88Very Positive

Cash Flow

35Negative
Financial statement breakdown
BreakdownTTMDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue1.86B1.35B682.24M1.10B934.40M560.26M
Gross Profit301.94M262.80M192.76M323.13M248.68M173.57M
EBITDA223.69M158.04M114.41M203.52M94.98M69.49M
Net Income203.78M81.39M62.73M160.11M73.27M58.15M
Balance Sheet
Total Assets1.92B1.82B1.46B1.08B974.82M518.61M
Cash, Cash Equivalents and Short-Term Investments1.02B993.62M1.05B599.15M564.87M232.13M
Total Debt4.50M3.19M3.03M2.15M3.35M4.12M
Total Liabilities715.67M685.52M340.06M284.73M279.90M194.85M
Stockholders Equity1.20B1.14B1.12B798.61M694.93M323.76M
Cash Flow
Free Cash Flow94.14M-9.96M95.42M108.41M41.29M125.81M
Operating Cash Flow118.74M46.94M144.67M114.06M45.13M126.01M
Investing Cash Flow-60.96M-58.34M-49.87M-6.62M-3.84M186.00K
Financing Cash Flow-64.83M-64.07M241.88M-62.16M281.38M-1.10M

Progate Group Corporation Peers Comparison

Overall Rating

UnderperformOutperform
Sector (55)

Financial Indicators

TW:8227 against its peers
NameOverall RatingMarket CapP/E RatioROEDividend YieldRevenue GrowthEPS Growth
TW:6104TW:610470OutperformTWD 7.32B16.72―5.65%2.68%-23.15%
Sector *55Neutral$6.65B3.83-15.92%6.20%10.91%7.18%
TW:8227TW:822754NeutralTWD 8.42B45.05―0.73%126.25%461.53%
TW:6756TW:675651NeutralTWD 8.19B54.09―0.73%28.20%117.74%
TW:3228TW:322844NeutralTWD 8.63B-63.66――4.58%9.27%

* General Sector Average

Performance Comparison

0%100%200%300%400%TW:8227TW:3228TW:4925TW:6104TW:6756TW:6907Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
TW:8227 and its peers over the selected period
Show on chartTickerCompany NamePriceChange% Change
TW:8227Progate Group Corporation234.0085.8457.94%
TW:3228RDC Semiconductor Co. Ltd.121.50-18.50-13.21%
TW:4925JMicron Technology Corporation101.5067.42197.83%
TW:6104Genesys Logic, Inc.79.60-7.72-8.84%
TW:6756VIA Labs, Inc.124.0041.7050.68%
TW:6907Artery Technology Corporation123.5074.84153.82%
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