Amia Co., Ltd. (8438) AI Stock Analysis

Amia Co., Ltd.

(TWSE:8438)

Select Model

Rating:67Neutral

Price Target:TWD 59.00▲(0.00% Upside)

Action:initiatedcoverage

Date:11/10/26

The score is supported primarily by a strong balance sheet, positive cash generation, and reasonable valuation. These strengths are meaningfully reduced by weaker earnings momentum, margin pressure, and bearish technical trends.

Positive Factors

Revenue ReboundThe return to revenue growth over the latest two years indicates improving demand or pricing and provides a stronger base for future operating performance. If sustained, this rebound can support better capacity utilization, reinvestment, and more consistent earnings generation over the next several quarters.

Negative Factors

Thin Profit MarginsModerate and declining margins leave limited room to absorb cost increases, unfavorable mix, or pricing pressure. The reduction in net margin from 2024 suggests that the recent revenue rebound has not translated proportionately into durable profitability, constraining earnings resilience and operating leverage.

Amia Co., Ltd. (8438) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 4.18B
Dividend Yield: 2.20%
Average Volume (3M): 288.59K
Price to Earnings (P/E): 13.8
Beta (1Y): 1.41
Revenue Growth: 35.28%
EPS Growth: 161.09%
Country: TW
Employees: 350
Sector: General
Sector Strength: 55
Industry: Chemicals - Specialty

Amia Co., Ltd. Business Overview & Revenue Model

Company Description

Amia Co.,Ltd operates within the industrial chemical industry, managing the entire lifecycle of a diverse range of chemical products. This encompasses everything from their initial processing and manufacturing to their commercial distribution and eve...

Amia Co., Ltd. Financial Statement Overview

Summary

Strong balance sheet with declining leverage and growing equity supports the score. Positive, improving cash flow is offset by slower revenue growth, contracting margins, and a decline in net income.

Income Statement

68Positive

Balance Sheet

84Very Positive

Cash Flow

70Positive

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	4.54B	3.84B	3.41B	3.06B	3.72B	4.20B
Gross Profit	613.34M	496.76M	478.36M	386.50M	361.48M	556.24M
EBITDA	434.01M	311.41M	310.76M	204.34M	249.38M	391.74M
Net Income	253.14M	146.65M	154.55M	89.29M	99.79M	220.71M
Balance Sheet
Total Assets	3.33B	3.07B	2.92B	2.86B	2.93B	2.52B
Cash, Cash Equivalents and Short-Term Investments	706.50M	617.93M	544.75M	633.48M	544.98M	532.64M
Total Debt	501.35M	528.00M	568.77M	646.77M	729.94M	488.55M
Total Liabilities	1.33B	1.15B	1.09B	1.14B	1.23B	1.16B
Stockholders Equity	2.00B	1.92B	1.83B	1.71B	1.70B	1.37B
Cash Flow
Free Cash Flow	187.62M	156.13M	167.49M	218.60M	-494.87M	270.18M
Operating Cash Flow	308.76M	256.24M	198.73M	264.82M	157.65M	357.50M
Investing Cash Flow	-113.54M	-60.07M	-56.28M	27.49M	-626.59M	-23.79M
Financing Cash Flow	-124.50M	-131.70M	-264.19M	-152.91M	460.46M	-328.35M

Amia Co., Ltd. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:8438 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:6201	72Outperform	TWD 4.13B	12.20	―	6.72%	-4.99%	-16.25%
TW:5225	69Neutral	TWD 3.43B	6.52	―	16.81%	-8.09%	-73.34%
TW:6625	68Neutral	TWD 3.91B	6.84	―	7.05%	19.35%	5.32%
TW:8438	67Neutral	TWD 3.96B	13.83	―	2.20%	35.28%	161.09%
TW:2477	56Neutral	TWD 3.33B	24.14	―	6.57%	6.09%	-56.35%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
TW:3581	46Neutral	TWD 4.19B	37.01	―	0.72%	29.43%	―

* General Sector Average

Performance Comparison

TW:8438 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:8438	Amia Co., Ltd.	59.00	29.87	102.57%
TW:2477	Meiloon Industrial Co., Ltd.	21.30	-1.38	-6.06%
TW:3581	Zen Voce Corporation	83.20	30.54	57.99%
TW:5225	Eastech Holding Limited	42.90	-51.39	-54.50%
TW:6201	Ya Horng Electronic Co.,Ltd	46.10	-7.02	-13.22%
TW:6625	B'In Live Co., Ltd.	70.90	-7.20	-9.22%

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

Amia Co., Ltd. AI Stock Analysis