Pou Chen Corporation (9904) AI Stock Analysis

Pou Chen Corporation

(TWSE:9904)

Select Model

Rating:63.4Neutral

Price Target:TWD 27.00▲(4.85% Upside)

Action:initiatedcoverage

Date:11/10/26

The score is primarily constrained by deteriorating profitability and only moderate financial quality. A solid balance sheet, improving cash flow, low valuation, and attractive dividend yield provide meaningful support, while mixed technical momentum limits the upside assessment.

Positive Factors

Global ODM/OEM footwear platformPou Chen’s large-scale ODM/OEM platform and relationships with major global sports and lifestyle brands provide an established route to market. This operating model can support recurring production demand, manufacturing scale, and durable relevance across athletic and casual footwear categories.

Negative Factors

Revenue contractionThe recent revenue decline indicates that growth has not been consistent and that the company remains exposed to fluctuations in footwear demand and production volumes. A weaker top line can reduce operating leverage and make it harder to sustain profit growth across the next several quarters.

Pou Chen Corporation (9904) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 76.17B
Dividend Yield: 5.05%
Average Volume (3M): 14.47M
Price to Earnings (P/E): 5.5
Beta (1Y): 0.25
Revenue Growth: -6.54%
EPS Growth: 5.99%
Country: TW
Employees: 268,690
Sector: General
Sector Strength: 55
Industry: Apparel - Footwear & Accessories

Pou Chen Corporation Business Overview & Revenue Model

Company Description

Founded in 1969 and based in Taichung, Taiwan, Pou Chen Corporation is a global powerhouse specializing in the production and sale of athletic and casual footwear. The company acts as a crucial original equipment and design manufacturer (OEM/ODM) for...

Pou Chen Corporation Financial Statement Overview

Summary

Financial quality is moderate: profitability weakened materially, with lower revenue and margins, while the balance sheet remains solid and cash flow improved. The score reflects the average of the 48 income statement, 68 balance sheet, and 65 cash flow scores.

Income Statement

48Neutral

Balance Sheet

68Positive

Cash Flow

65Positive

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	247.68B	251.40B	263.82B	246.63B	267.50B	239.88B
Gross Profit	51.94B	52.09B	65.18B	61.11B	64.61B	58.22B
EBITDA	24.66B	23.28B	45.36B	30.01B	31.70B	35.80B
Net Income	13.90B	12.07B	16.04B	10.62B	12.64B	14.44B
Balance Sheet
Total Assets	411.03B	355.59B	351.41B	327.58B	324.53B	366.89B
Cash, Cash Equivalents and Short-Term Investments	57.85B	60.84B	65.12B	72.51B	61.50B	60.46B
Total Debt	78.65B	83.98B	75.03B	78.12B	94.32B	106.98B
Total Liabilities	140.29B	131.39B	126.27B	124.92B	142.40B	159.39B
Stockholders Equity	187.02B	140.90B	141.20B	126.19B	107.01B	139.43B
Cash Flow
Free Cash Flow	-1.99B	11.11B	3.84B	25.08B	16.94B	4.06B
Operating Cash Flow	8.05B	20.84B	10.77B	31.82B	24.05B	12.63B
Investing Cash Flow	-19.81B	-23.33B	-12.15B	-4.41B	5.37B	-2.97B
Financing Cash Flow	1.50B	2.13B	-13.14B	-24.93B	-21.71B	-12.74B

Pou Chen Corporation Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:9904 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:1477	75Outperform	TWD 52.55B	14.23	―	6.96%	-2.23%	0.65%
TW:9910	68Neutral	TWD 66.16B	13.15	―	6.34%	-3.73%	-20.82%
TW:6890	66Neutral	TWD 34.29B	13.95	―	6.10%	-6.82%	-24.71%
TW:9904	63Neutral	TWD 76.17B	5.47	―	5.05%	-6.54%	5.99%
TW:6191	63Neutral	TWD 41.79B	14.38	―	3.18%	38.15%	-5.54%
TW:2105	58Neutral	TWD 95.62B	17.44	―	6.14%	3.10%	6.14%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%

* General Sector Average

Performance Comparison

TW:9904 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:9904	Pou Chen Corporation	25.75	-2.59	-9.16%
TW:1477	Makalot Industrial Co., Ltd.	215.50	-73.49	-25.43%
TW:2105	Cheng Shin Rubber Ind. Co., Ltd.	29.30	-1.57	-5.09%
TW:6191	Global Brands Manufacture Limited	81.80	-30.85	-27.39%
TW:6890	Lai Yih Footwear Co., Ltd.	147.00	-85.42	-36.75%
TW:9910	Feng Tay Enterprise Co., Ltd.	64.70	-57.11	-46.88%

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

Pou Chen Corporation AI Stock Analysis