Top Bright Holding Co., Ltd. AI Stock Analysis
Top Bright Holding Co., Ltd. (8499) AI Stock Analysis
Top Bright Holding Co., Ltd.
(TWSE:8499)
Top Bright earns a middling score. Fundamentals are mixed: strong revenue growth and solid 44% gross margins are offset by halved net margins, falling net income, a drop in return on equity to about 5%, and a sharp rise in debt to fund expansion that tipped free cash flow negative. Technicals are the biggest drag, with the price well below all major moving averages and a deeply negative MACD, though extremely oversold RSI and Stochastic readings hint at the potential for a near-term bounce. A reasonable 18.4x P/E and an attractive 4.17% dividend yield provide valuation support and partially cushion the score. The investment case rests on whether the recent capital investment translates into margin recovery.
Top Bright Holding Co., Ltd. (8499) vs. SPDR S&P 500 ETF (SPY)
- Market Cap
- TWD 8.40B
- Dividend Yield
- 4.03%
- Average Volume (3M)
- 26.67K
- Price to Earnings (P/E)
- 19.3
- Beta (1Y)
- 0.91
- Revenue Growth
- 80.45%
- EPS Growth
- -9.97%
- Country
- TW
- Employees
- 962
- Sector
- General
- Sector Strength
- 55
- Industry
- Hardware, Equipment & Parts
Top Bright Holding Co., Ltd. Business Overview & Revenue Model
Company Description
Top Bright Holding Co., Ltd. engages in the manufacture, marketing, research and development of electronic scales and electronic materials. It operates through Electronic Materials Department and The Scales Department. The Electronic Materials Depart...
Top Bright Holding Co., Ltd. Financial Statement Overview
Summary
Revenue rebounded strongly to roughly NT$2.91 billion with healthy gross margins near 44%, but profitability moved the wrong way: operating margin fell to about 29% from 37%, net margin halved to roughly 14%, and net income declined to NT$418 million. The balance sheet remains sound, with equity funding about 51% of assets and debt-to-equity still conservative at 0.26x, though borrowings jumped sharply to fund a 31% expansion in assets, and return on equity has slid to about 5%. Operating cash flow of NT$488 million converts well from earnings (1.2x), but capital spending of NT$504 million pushed free cash flow slightly negative. The result is a stable but currently low-return profile with elevated execution risk tied to the new capacity.
Income Statement
64PositiveBalance Sheet
69PositiveCash Flow
52Neutral| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 3.81B | 2.91B | 2.04B | 1.85B | 2.31B | 2.66B |
| Gross Profit | 1.54B | 1.29B | 885.81M | 768.81M | 1.06B | 1.39B |
| EBITDA | 1.12B | 1.01B | 828.13M | 464.75M | 1.08B | 1.11B |
| Net Income | 437.61M | 418.02M | 462.23M | 424.47M | 816.64M | 733.19M |
Balance Sheet | ||||||
| Total Assets | 16.50B | 15.95B | 12.21B | 11.23B | 11.69B | 5.04B |
| Cash, Cash Equivalents and Short-Term Investments | 6.67B | 6.04B | 7.79B | 8.37B | 9.05B | 2.86B |
| Total Debt | 1.95B | 2.15B | 196.10M | 138.37M | 387.07M | 640.93M |
| Total Liabilities | 4.07B | 3.92B | 908.85M | 706.33M | 1.06B | 1.45B |
| Stockholders Equity | 8.34B | 8.20B | 8.18B | 7.52B | 7.44B | 3.35B |
Cash Flow | ||||||
| Free Cash Flow | 300.21M | -15.54M | 197.79M | 93.19M | 811.68M | 803.52M |
| Operating Cash Flow | 933.53M | 488.45M | 424.97M | 474.56M | 942.22M | 912.37M |
| Investing Cash Flow | -3.97B | -4.48B | -2.55B | 99.26M | -1.60B | 107.44M |
| Financing Cash Flow | -173.54M | 23.26M | -329.61M | -726.51M | 5.97B | -498.55M |
Top Bright Holding Co., Ltd. Peers Comparison
Overall Rating
- TW:849959Neutral
TW:300354Neutral
TW:456647Neutral
TW:623046Neutral
TW:454243Neutral
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| TW:8499 | 59Neutral | TWD 8.48B | 19.29 | ― | 4.03% | 80.45% | -9.97% |
| 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:4566 | 47Neutral | TWD 8.39B | 29.03 | ― | 0.90% | 18.15% | 370.19% |
| TW:6230 | 46Neutral | TWD 7.77B | -17.39 | ― | 0.25% | 8.01% | -1289.01% |
| TW:4542 | 43Neutral | TWD 8.65B | 97.70 | ― | 0.36% | 52.10% | 273.32% |
* General Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| TW:8499 | Top Bright Holding Co., Ltd. | 198.50 | -50.82 | -20.38% | |
| TW:3003 | K.S. Terminals Inc. | 48.50 | 0.27 | 0.57% | |
| TW:4542 | Asia Neo Tech Industrial Co., Ltd. | 259.00 | 203.40 | 365.86% | |
| TW:4566 | GLOBAL TEK FABRICATION CO., Ltd. | 76.20 | 25.01 | 48.85% | |
| TW:6230 | Nidec Chaun-Choung Technology Corporation | 88.80 | -31.20 | -26.00% | |
| TW:7869 | Horng Yu Electric Co. Ltd. | 280.00 | -95.81 | -25.49% |
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