QST International Corp. (8349) AI Stock Analysis

QST International Corp.

(TPEx:8349)

Select Model

Rating:47Neutral

Price Target:TWD 39.00▲(0.78% Upside)

Action:initiatedcoverage

Date:11/10/26

The score is primarily constrained by weakening profitability, high leverage, and persistently negative free cash flow. Technical indicators are mildly bearish, while the reasonable P/E ratio and attractive dividend yield provide partial support.

Positive Factors

Continued ProfitabilityDespite the recent pullback, the company remains profitable, with a 2025 EBIT margin of about 6.1% and net margin near 3.6%. Positive earnings provide an operating base for continued investment and indicate the business has retained economic viability through the latest slowdown.

Negative Factors

Persistent Negative Free Cash FlowPersistent negative free cash flow means operating cash is not covering investment and working-capital requirements, reducing internally generated funding. The 2025 shortfall of roughly 1.1B is especially concerning because it limits flexibility and can increase reliance on debt while leverage is already elevated.

QST International Corp. (8349) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 8.09B
Dividend Yield: 3.97%
Average Volume (3M): 93.25K
Price to Earnings (P/E): 16.5
Beta (1Y): 0.34
Revenue Growth: 2.27%
EPS Growth: 5.63%
Country: TW
Employees: 2,543
Sector: General
Sector Strength: 55
Industry: Manufacturing - Tools & Accessories

QST International Corp. Business Overview & Revenue Model

Company Description

QST International Corp., a global enterprise, specializes in the production and distribution of fasteners and metal components for the automotive sector. Its extensive product portfolio encompasses proprietary fastening solutions like specialized scr...

QST International Corp. Financial Statement Overview

Summary

Below-average financial performance: revenue, net income, margins, and operating cash flow weakened, while high leverage and four consecutive years of negative free cash flow remain significant risks. Profitability and asset growth provide some support.

Income Statement

52Neutral

Balance Sheet

47Neutral

Cash Flow

24Negative

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	11.71B	11.45B	13.14B	12.24B	11.48B	10.19B
Gross Profit	2.30B	2.28B	2.77B	2.16B	2.18B	1.93B
EBITDA	1.66B	1.55B	1.96B	1.40B	1.62B	1.19B
Net Income	531.84M	415.26M	739.31M	454.55M	588.99M	376.06M
Balance Sheet
Total Assets	25.63B	23.33B	21.53B	18.59B	16.58B	13.59B
Cash, Cash Equivalents and Short-Term Investments	2.52B	1.85B	1.60B	1.72B	2.41B	1.28B
Total Debt	13.11B	11.70B	10.98B	9.61B	8.77B	6.74B
Total Liabilities	17.08B	14.70B	13.96B	12.16B	11.02B	8.80B
Stockholders Equity	7.47B	7.52B	6.33B	5.49B	5.26B	4.48B
Cash Flow
Free Cash Flow	-1.32B	-1.12B	-1.48B	-781.00M	-866.88M	-716.63M
Operating Cash Flow	1.10B	1.24B	1.36B	1.82B	583.31M	10.02M
Investing Cash Flow	-2.51B	-2.37B	-2.50B	-2.63B	-1.37B	-688.33M
Financing Cash Flow	1.33B	1.17B	1.20B	153.23M	1.81B	600.17M

QST International Corp. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:8349 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:1615	71Outperform	TWD 8.37B	8.06	―	5.93%	10.56%	23.77%
TW:5013	62Neutral	TWD 8.83B	30.92	―	1.02%	0.25%	51.97%
TW:6115	61Neutral	TWD 8.05B	13.90	―	6.51%	8.96%	2.49%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
TW:3003	54Neutral	TWD 7.46B	19.54	―	2.06%	11.87%	44.15%
TW:8349	47Neutral	TWD 8.10B	16.45	―	3.97%	2.27%	5.63%

* General Sector Average

Performance Comparison

TW:8349 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:8349	QST International Corp.	38.70	-3.30	-7.85%
TW:1615	Dah San Electric Wire & Cable Corp	42.15	-3.52	-7.72%
TW:3003	K.S. Terminals Inc.	48.50	0.27	0.57%
TW:5013	New Best Wire Industrial Co., Ltd.	68.60	40.67	145.63%
TW:6115	I-Sheng Electric Wire & Cable Co., Ltd.	43.00	-0.52	-1.19%
TW:7927	Linkage Electric Co., Ltd.	202.00	-70.00	-25.74%

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

QST International Corp. AI Stock Analysis