Advanced International Multitech Co. Ltd. (8938) AI Stock Analysis

Advanced International Multitech Co. Ltd.

(TPEx:8938)

Select Model

Rating:58Neutral

Price Target:TWD 50.00▲(8.70% Upside)

Action:initiatedcoverage

Date:11/10/26

The score is primarily constrained by weaker profitability and sharply declining free cash flow, despite a relatively solid balance sheet. Attractive valuation provides meaningful support, while bearish technical trends remain a key risk.

Positive Factors

Improving Balance SheetDeclining leverage gives the company greater financial flexibility and improves resilience if operating conditions weaken. The lower debt-to-equity ratio can also support continued investment and reduce balance-sheet pressure while the business works through profitability normalization.

Negative Factors

Volatile Revenue TrendAn uneven multi-year revenue path makes future operating performance less predictable and suggests demand or business conditions remain sensitive. This volatility can complicate planning, limit confidence in sustained growth, and reduce the durability of near-term earnings improvement.

Advanced International Multitech Co. Ltd. (8938) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 6.95B
Dividend Yield: 8.70%
Average Volume (3M): 91.53K
Price to Earnings (P/E): 11.1
Beta (1Y): 0.26
Revenue Growth: -0.03%
EPS Growth: -33.33%
Country: TW
Employees: 14,048
Sector: General
Sector Strength: 55
Industry: Leisure

Advanced International Multitech Co. Ltd. Business Overview & Revenue Model

Company Description

Established in 1987 and headquartered in Kaohsiung, Taiwan, Advanced International Multitech Co., Ltd. is a globally active enterprise specializing in the production and distribution of a wide array of goods. The company is a key supplier in the golf...

Advanced International Multitech Co. Ltd. Financial Statement Overview

Summary

Revenue grew, and leverage improved with lower debt and a stronger debt-to-equity ratio. However, declining operating and net margins, lower return on equity, and sharply weaker free cash flow materially limit financial quality.

Income Statement

58Neutral

Balance Sheet

72Positive

Cash Flow

42Neutral

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	14.79B	15.41B	14.19B	14.30B	21.42B	16.91B
Gross Profit	2.15B	2.40B	2.23B	2.30B	4.35B	3.22B
EBITDA	1.84B	1.69B	2.33B	749.90M	4.02B	2.40B
Net Income	823.54M	949.45M	1.04B	68.97M	2.24B	1.35B
Balance Sheet
Total Assets	12.87B	14.80B	15.01B	13.45B	16.82B	13.03B
Cash, Cash Equivalents and Short-Term Investments	2.56B	1.91B	2.52B	3.12B	2.33B	1.12B
Total Debt	2.23B	2.99B	3.28B	3.13B	3.54B	2.60B
Total Liabilities	5.20B	6.80B	7.45B	6.92B	9.08B	7.38B
Stockholders Equity	7.67B	8.00B	7.57B	6.19B	7.00B	5.16B
Cash Flow
Free Cash Flow	1.21B	145.53M	-431.49M	2.06B	1.27B	-310.57M
Operating Cash Flow	1.71B	1.22B	1.45B	3.15B	2.36B	752.03M
Investing Cash Flow	-545.07M	-971.77M	-1.95B	-1.34B	-966.63M	-881.84M
Financing Cash Flow	-1.27B	-891.36M	-291.70M	-1.31B	59.27M	38.33M

Advanced International Multitech Co. Ltd. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:8938 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:4571	71Outperform	TWD 7.65B	16.61	―	3.53%	-0.89%	-0.66%
TW:1558	64Neutral	TWD 7.23B	12.43	―	4.46%	1.70%	62.07%
TW:3645	59Neutral	TWD 7.63B	26.45	―	2.11%	-4.08%	94.00%
TW:8938	58Neutral	TWD 7.36B	11.07	―	8.70%	-0.03%	-33.33%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
TW:3708	49Neutral	TWD 8.37B	2.73	―	6.94%	-79.42%	2756.52%
TW:4566	47Neutral	TWD 8.39B	29.03	―	0.90%	18.15%	370.19%

* General Sector Average

Performance Comparison

TW:8938 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:8938	Advanced International Multitech Co. Ltd.	46.00	-15.67	-25.42%
TW:1558	Zeng Hsing Industrial Co., Ltd.	112.00	20.56	22.49%
TW:3645	Taimide Tech, Inc.	56.80	0.07	0.12%
TW:3708	Swancor Holding Co., Ltd.	93.60	-27.17	-22.50%
TW:4566	GLOBAL TEK FABRICATION CO., Ltd.	76.20	25.01	48.85%
TW:4571	Khgears International Ltd.	149.50	-9.67	-6.08%

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

Advanced International Multitech Co. Ltd. AI Stock Analysis