Polygreen Resources Co., Ltd. AI Stock Analysis
Polygreen Resources Co., Ltd. (8423) AI Stock Analysis
Polygreen Resources Co., Ltd.
(TPEx:8423)
Polygreen Resources scores in the mid-range, anchored by a conservatively financed balance sheet and record margin-led profitability, offset by the clearest risk: deeply negative free cash flow of -NT$51.2 million driven by heavy capital spending, alongside a low 4.9% return on equity and revenue growth that has slowed to under 2%. Valuation is supportive, with a moderate 16.3x P/E and a near-4% dividend yield, while the technical picture is neutral — the shares hold above their 100- and 200-day averages but momentum indicators are mid-range with no clear trend. The investment case hinges on whether the current spending cycle converts into faster growth and positive cash generation.
Polygreen Resources Co., Ltd. (8423) vs. SPDR S&P 500 ETF (SPY)
- Market Cap
- TWD 748.77M
- Dividend Yield
- 3.97%
- Average Volume (3M)
- 17.70K
- Price to Earnings (P/E)
- 16.5
- Beta (1Y)
- 0.24
- Revenue Growth
- 0.28%
- EPS Growth
- 66.15%
- Country
- TW
- Employees
- 143
- Sector
- General
- Sector Strength
- 55
- Industry
- Auto - Parts
Polygreen Resources Co., Ltd. Business Overview & Revenue Model
Company Description
Polygreen Resources Co., Ltd., operating as an investment holding firm, is dedicated to resource recovery and environmental protection across a broad international market. Its global presence encompasses Taiwan, Japan, China, the Philippines, Vietnam...
Polygreen Resources Co., Ltd. Financial Statement Overview
Summary
A mixed but reasonably sound profile. The balance sheet is the standout (score 71): equity has nearly doubled since 2021 to NT$620.0 million, debt-to-equity has fallen to a conservative 0.41 from 0.72, and equity funds about two-thirds of assets. The income statement (score 66) shows record profitability, with net income reaching NT$30.5 million as gross margin widened to 27.6% and net margin improved to 8.1%, though revenue growth slowed to roughly 1.8% in 2025. Cash flow is the weak link (score 45): operating cash flow of NT$37.8 million has declined every year since 2022, and heavy capex pushed free cash flow to -NT$51.2 million, the second negative year in three. Return on equity of just 4.9% also shows the enlarged capital base has yet to be put to productive use.
Income Statement
66PositiveBalance Sheet
71PositiveCash Flow
45Neutral| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 395.32M | 377.00M | 369.81M | 324.72M | 321.28M | 269.50M |
| Gross Profit | 113.58M | 104.17M | 98.55M | 83.36M | 91.46M | 71.15M |
| EBITDA | 79.39M | 64.57M | 61.31M | 54.65M | 63.40M | 48.40M |
| Net Income | 44.84M | 30.46M | 23.36M | 24.83M | 29.34M | 17.98M |
Balance Sheet | ||||||
| Total Assets | 965.04M | 918.76M | 893.83M | 689.21M | 539.47M | 508.92M |
| Cash, Cash Equivalents and Short-Term Investments | 201.66M | 237.94M | 293.21M | 125.17M | 130.61M | 98.21M |
| Total Debt | 254.69M | 253.10M | 239.46M | 270.60M | 128.55M | 132.28M |
| Total Liabilities | 347.21M | 298.79M | 289.82M | 313.71M | 170.20M | 170.07M |
| Stockholders Equity | 617.83M | 619.98M | 604.00M | 375.49M | 369.27M | 338.85M |
Cash Flow | ||||||
| Free Cash Flow | -58.84M | -51.22M | 8.36M | -132.36M | 41.10M | 29.06M |
| Operating Cash Flow | 53.40M | 37.78M | 39.30M | 46.55M | 51.68M | 42.19M |
| Investing Cash Flow | -113.53M | -90.16M | -34.09M | -179.23M | -7.70M | -14.03M |
| Financing Cash Flow | -27.10M | -14.00M | 153.33M | 129.52M | -15.01M | -35.10M |
Polygreen Resources Co., Ltd. Peers Comparison
Overall Rating
- TW:842362Neutral
TW:771559Neutral
TW:662449Neutral
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| TW:8423 | 62Neutral | TWD 727.91M | 16.50 | ― | 3.97% | 0.28% | 66.15% |
| TW:7715 | 59Neutral | TWD 759.95M | 38.36 | ― | 19.94% | -44.65% | -84.66% |
| Sector * | 55Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
| TW:6624 | 49Neutral | TWD 784.64M | 62.79 | ― | 0.80% | -31.58% | -81.33% |
* General Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| TW:8423 | Polygreen Resources Co., Ltd. | 17.65 | 0.77 | 4.56% | |
| TW:6624 | Ever-Clear Environmental Eng. Corp. | 36.00 | 1.24 | 3.57% | |
| TW:6723 | JG Environmental Technology Co., Ltd. | 27.85 | -12.76 | -31.42% | |
| TW:7715 | Yuh Shan Environmental Engineering Co., Ltd. | 24.00 | -4.18 | -14.85% | |
| TW:7862 | AceGreen Eco-Material Technology Co Ltd | 16.25 | -35.53 | -68.62% | |
| TW:7865 | Jin Lian Cheng Resources Co., Ltd. | 30.45 | -27.90 | -47.81% |
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