Hsin Tai Gas Co., Ltd. (8917) AI Stock Analysis

Hsin Tai Gas Co., Ltd.

(TPEx:8917)

Select Model

Rating:73Outperform

Price Target:TWD 57.00▲(10.04% Upside)

Action:initiatedcoverage

Date:11/10/26

Strong financial performance, led by an ultra-conservative balance sheet and solid cash generation, is the primary driver, while weaker technical momentum caps the overall score.

Positive Factors

Conservative Balance SheetNear-zero leverage materially reduces financial risk and interest burden, giving Hsin Tai Gas resilience through weaker demand or cost pressure. A growing equity base and steady double-digit ROE also show that the company generates solid returns without depending on debt-funded expansion.

Negative Factors

Margin CompressionThe decline from earlier margin highs suggests that cost or pricing pressure is reducing the profitability of each unit of revenue. If sustained, this can limit earnings growth even while sales continue expanding and may reduce the operating cushion available to fund infrastructure and shareholder returns.

Hsin Tai Gas Co., Ltd. (8917) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 8.43B
Dividend Yield: 4.05%
Average Volume (3M): 16.55K
Price to Earnings (P/E): 20.8
Beta (1Y): 0.04
Revenue Growth: -0.67%
EPS Growth: 16.86%
Country: TW
Employees: 188
Sector: General
Sector Strength: 55
Industry: Regulated Gas

Hsin Tai Gas Co., Ltd. Business Overview & Revenue Model

Company Description

Hsin Tai Gas Co., Ltd. operates as a natural gas provider throughout Taiwan. The company's activities encompass building natural gas distribution networks, offering sales and installation services for gas meters, and manufacturing and selling various...

Hsin Tai Gas Co., Ltd. Financial Statement Overview

Summary

Exceptional balance sheet with negligible debt and robust cash flows provide strong support, despite margin compression in the income statement.

Income Statement

62Positive

Balance Sheet

94Very Positive

Cash Flow

87Very Positive

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	3.01B	3.10B	2.77B	2.58B	2.54B	2.30B
Gross Profit	530.97M	544.98M	553.57M	570.02M	564.50M	510.15M
EBITDA	763.90M	747.40M	790.15M	779.07M	745.82M	671.60M
Net Income	406.41M	363.26M	383.92M	387.37M	367.95M	326.36M
Balance Sheet
Total Assets	6.16B	6.03B	5.88B	5.69B	5.46B	5.17B
Cash, Cash Equivalents and Short-Term Investments	2.50B	2.40B	2.29B	2.25B	1.95B	1.88B
Total Debt	11.72M	13.14M	17.13M	17.18M	16.87M	16.76M
Total Liabilities	3.52B	3.30B	3.15B	2.98B	2.81B	2.76B
Stockholders Equity	2.63B	2.73B	2.72B	2.71B	2.64B	2.41B
Cash Flow
Free Cash Flow	383.67M	489.54M	392.95M	494.72M	296.28M	362.49M
Operating Cash Flow	656.83M	737.21M	689.00M	741.85M	571.93M	687.10M
Investing Cash Flow	-421.91M	-358.61M	-505.63M	-337.97M	-328.01M	-490.55M
Financing Cash Flow	-354.54M	-366.24M	-349.96M	-329.81M	-161.00M	-202.41M

Hsin Tai Gas Co., Ltd. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:8917 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:8917	73Outperform	TWD 8.43B	20.80	―	4.05%	-0.67%	16.86%
TW:9926	70Outperform	TWD 8.81B	16.60	―	4.30%	1.02%	11.37%
TW:9918	63Neutral	TWD 7.41B	15.24	―	3.60%	-1.20%	39.54%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%

* General Sector Average

Performance Comparison

TW:8917 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:8917	Hsin Tai Gas Co., Ltd.	51.80	-4.33	-7.71%
TW:9918	Shin Shin Natural Gas Co., Ltd.	41.65	3.27	8.52%
TW:9926	Shin Hai Gas Corporation	48.85	1.16	2.43%

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

Hsin Tai Gas Co., Ltd. AI Stock Analysis