Cleanaway Co., Ltd. AI Stock Analysis
Cleanaway Co., Ltd. (8422) AI Stock Analysis
Cleanaway Co., Ltd.
(TWSE:8422)
Cleanaway combines best-in-class waste-sector profitability — roughly 51% gross margins, 31% net margins and 17% return on equity — with a much weaker balance sheet and cash profile: debt has ballooned to 1.31x equity and free cash flow has been negative for four straight years amid heavy expansion spending, while revenue fell 5.9% in the latest year. Technicals are the biggest near-term drag, with the shares trading below all major moving averages and a negative MACD confirming a sustained downtrend, though the depressed RSI and Stochastic readings suggest selling has become stretched. Valuation partially cushions the picture: a 23x P/E is fair for the margin profile, and the 5.25% dividend yield plus a low 0.47 beta offer defensive income. The score reflects a profitable but leveraged operator whose investment case depends on capital spending moderating and the large asset build translating into renewed revenue growth.
Cleanaway Co., Ltd. (8422) vs. SPDR S&P 500 ETF (SPY)
- Market Cap
- TWD 32.27B
- Dividend Yield
- 5.01%
- Average Volume (3M)
- 4.71M
- Price to Earnings (P/E)
- 22.7
- Beta (1Y)
- 0.47
- Revenue Growth
- 25.08%
- EPS Growth
- -12.23%
- Country
- TW
- Employees
- 181
- Sector
- General
- Sector Strength
- 55
- Industry
- Waste Management
Cleanaway Co., Ltd. Business Overview & Revenue Model
Company Description
Cleanaway Company Limited, a Taiwanese enterprise, specializes in the intermediate treatment and solidification within the waste management sector. The company's operations are structured across six distinct divisions: Solidification and Excavation,...
Cleanaway Co., Ltd. Financial Statement Overview
Summary
Profitability is the standout strength: FY2025 gross margin of 51.7%, net margin of 30.5%, EBITDA margin above 50%, and return on equity near 17.3%, with net income up roughly 24% to NT$1.46 billion. Operating cash flow jumped about 81% to NT$2.20 billion, exceeding net income and pointing to solid earnings quality. These positives are offset by a 5.9% revenue decline and a history of erratic sales and margins, a sharp build-up in debt to NT$11.0 billion (1.31x equity) from a near debt-free position in 2020, and a fourth consecutive year of negative free cash flow (roughly NT$-38 million) driven by heavy capital spending. Blended income statement (74), balance sheet (55) and cash flow (52) scores reflect strong current earnings against leverage and funding risk.
Income Statement
74PositiveBalance Sheet
55NeutralCash Flow
52Neutral| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 5.43B | 4.78B | 5.17B | 4.27B | 5.24B | 3.02B |
| Gross Profit | 2.23B | 2.47B | 2.03B | 1.81B | 2.21B | 1.92B |
| EBITDA | 2.14B | 2.40B | 1.94B | 1.52B | 1.92B | 1.66B |
| Net Income | 1.30B | 1.46B | 1.17B | 993.99M | 1.34B | 1.15B |
Balance Sheet | ||||||
| Total Assets | 26.50B | 22.29B | 20.04B | 15.31B | 12.57B | 7.75B |
| Cash, Cash Equivalents and Short-Term Investments | 4.45B | 3.38B | 2.40B | 1.58B | 3.50B | 1.50B |
| Total Debt | 11.62B | 11.05B | 10.64B | 6.83B | 4.48B | 590.97M |
| Total Liabilities | 14.76B | 12.77B | 12.66B | 8.50B | 5.97B | 1.65B |
| Stockholders Equity | 10.27B | 8.44B | 6.83B | 6.26B | 6.29B | 5.78B |
Cash Flow | ||||||
| Free Cash Flow | -1.95B | -37.95M | -1.62B | -3.27B | -1.05B | 948.69M |
| Operating Cash Flow | 127.59M | 2.20B | 1.22B | 473.33M | 1.29B | 1.38B |
| Investing Cash Flow | -2.36B | -2.30B | -2.86B | -3.78B | -2.34B | -273.65M |
| Financing Cash Flow | 4.96B | 1.02B | 2.47B | 1.40B | 3.02B | -761.10M |
Cleanaway Co., Ltd. Peers Comparison
Overall Rating
TW:207269Neutral
TW:151462Neutral- TW:842257Neutral
TW:357644Neutral
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| TW:2072 | 69Neutral | TWD 19.87B | 16.02 | ― | 12.64% | ― | ― |
| TW:1514 | 62Neutral | TWD 23.09B | 23.18 | ― | 2.39% | 23.50% | 36.14% |
| TW:8422 | 57Neutral | TWD 32.47B | 22.67 | ― | 5.01% | 25.08% | -12.23% |
| Sector * | 55Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
| TW:3576 | 44Neutral | TWD 28.22B | 26.67 | ― | ― | -32.61% | ― |
* General Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| TW:8422 | Cleanaway Co., Ltd. | 23.90 | -0.04 | -0.16% | |
| TW:1514 | Allis Electric Co., Ltd. | 83.70 | -13.79 | -14.15% | |
| TW:2072 | Century Energy Co., Ltd. | 103.50 | -87.78 | -45.89% | |
| TW:3576 | United Renewable Energy Co., Ltd. | 17.35 | 10.80 | 164.89% | |
| TW:6826 | Taiwan Puritic Corp. | 339.00 | -57.01 | -14.40% | |
| TW:7892 | META Green Cooling Technology Co., Ltd. | 406.50 | 53.93 | 15.29% |
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