Cleanaway Co., Ltd. (8422) AI Stock Analysis

Cleanaway Co., Ltd.

(TWSE:8422)

Select Model

Rating:56Neutral

Price Target:TWD 23.50▼(-1.47% Downside)

Action:initiatedcoverage

Date:11/10/26

Strong profitability and an attractive dividend provide support, but declining revenue, high leverage, weak free cash flow, and bearish technical momentum materially reduce the overall score.

Positive Factors

Strong ProfitabilityVery strong 2025 gross, operating, and net margins indicate effective execution and substantial earnings retained from revenue. If maintained, this profitability provides internal funding for operations and investment, while creating a meaningful buffer against moderate cost pressure or business volatility.

Negative Factors

Higher LeverageThe materially higher debt burden reduces financial flexibility compared with the company’s earlier balance-sheet position. It increases sensitivity to refinancing needs and operating setbacks, while interest and repayment obligations can constrain investment, distributions, or the ability to withstand weaker business conditions.

Cleanaway Co., Ltd. (8422) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 32.27B
Dividend Yield: 5.02%
Average Volume (3M): 4.66M
Price to Earnings (P/E): 19.7
Beta (1Y): 0.48
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

Strong profitability and improved operating cash flow are offset by declining revenue, elevated leverage, and persistently weak free cash flow.

Income Statement

72Positive

Balance Sheet

55Neutral

Cash Flow

43Neutral

Financial statement breakdown
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

UnderperformOutperform

Sector (55)

Financial Indicators

TW:8422 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:2072	69Neutral	TWD 19.87B	15.71	―	12.89%	―	―
TW:1514	62Neutral	TWD 23.09B	24.10	―	2.30%	23.50%	36.14%
TW:8422	56Neutral	TWD 32.47B	19.67	―	5.02%	25.08%	-12.23%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
TW:3576	44Neutral	TWD 28.22B	26.59	―	―	-32.61%	―

* General Sector Average

Performance Comparison

TW:8422 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:8422	Cleanaway Co., Ltd.	23.85	-0.09	-0.37%
TW:1514	Allis Electric Co., Ltd.	87.00	-7.71	-8.14%
TW:2072	Century Energy Co., Ltd.	101.50	-81.93	-44.67%
TW:3576	United Renewable Energy Co., Ltd.	17.75	11.26	173.50%
TW:6826	Taiwan Puritic Corp.	342.50	-48.14	-12.32%
TW:7892	META Green Cooling Technology Co., Ltd.	385.50	32.93	9.34%

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

Cleanaway Co., Ltd. AI Stock Analysis