Macauto Industrial Co., Ltd AI Stock Analysis
Macauto Industrial Co., Ltd (9951) AI Stock Analysis
Macauto Industrial Co., Ltd
(TPEx:9951)
Macauto scores well on financial strength and valuation but is held back by poor price momentum. The balance sheet is the standout: minimal debt, a growing NT$3.82 billion equity base, and a strong 2025 recovery in free cash flow to NT$595 million on mid-teens revenue growth. Valuation reinforces the case, with a 7.9x P/E, a 7.35% dividend yield and low beta. The main risks are multi-year margin compression and declining return on equity, alongside a decisively bearish chart — the share price sits below all key moving averages with negative MACD, though oversold RSI and Stochastic readings suggest selling may be stretched. Overall, a financially conservative, cash-generative and cheaply valued name awaiting evidence of sustained margin recovery and a trend reversal.
Macauto Industrial Co., Ltd (9951) vs. SPDR S&P 500 ETF (SPY)
- Market Cap
- TWD 3.21B
- Dividend Yield
- 7.46%
- Average Volume (3M)
- 59.37K
- Price to Earnings (P/E)
- 9.0
- Beta (1Y)
- 0.41
- Revenue Growth
- 5.34%
- EPS Growth
- 1.56%
- Country
- TW
- Employees
- 1,145
- Sector
- General
- Sector Strength
- 55
- Industry
- Auto - Parts
Macauto Industrial Co., Ltd Business Overview & Revenue Model
Company Description
Macauto Industrial Co., Ltd. is primarily involved in the production and sale of automotive sunshade products. The company's range of vehicle interior offerings extends to include sunshades for roof systems, luggage compartment covers, side and rear...
Macauto Industrial Co., Ltd Financial Statement Overview
Summary
Macauto combines a very strong balance sheet (debt-to-equity of just 0.10, equity funding ~61% of assets) with a sharp 2025 rebound in cash generation (operating cash flow NT$716M, free cash flow NT$595M, both well above net income of NT$390M). Revenue grew roughly 15% to NT$6.32 billion and operating profit improved to NT$433M. Offsetting this, margins have compressed steadily since 2020 (gross 28.8%→24.2%, net 10.8%→6.2%), return on equity has fallen to 10.2%, and 2024 saw negative free cash flow, pointing to earnings and cash-conversion volatility.
Income Statement
65PositiveBalance Sheet
82Very PositiveCash Flow
73Positive| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 6.56B | 6.32B | 5.52B | 5.21B | 4.85B | 4.77B |
| Gross Profit | 1.53B | 1.53B | 1.33B | 1.35B | 1.24B | 1.36B |
| EBITDA | 659.82M | 637.64M | 513.06M | 674.82M | 637.52M | 642.80M |
| Net Income | 416.18M | 389.89M | 314.43M | 432.25M | 411.97M | 399.43M |
Balance Sheet | ||||||
| Total Assets | 6.40B | 6.31B | 5.89B | 5.84B | 5.66B | 5.35B |
| Cash, Cash Equivalents and Short-Term Investments | 2.01B | 1.90B | 1.55B | 1.67B | 1.58B | 1.39B |
| Total Debt | 435.83M | 389.64M | 380.00M | 385.64M | 485.12M | 616.30M |
| Total Liabilities | 2.59B | 2.49B | 2.21B | 2.24B | 2.29B | 2.24B |
| Stockholders Equity | 3.81B | 3.82B | 3.68B | 3.61B | 3.37B | 3.11B |
Cash Flow | ||||||
| Free Cash Flow | 316.13M | 594.72M | -126.64M | 687.07M | 496.61M | 564.73M |
| Operating Cash Flow | 439.75M | 715.91M | -16.68M | 743.58M | 547.73M | 615.88M |
| Investing Cash Flow | -315.70M | 3.96M | -116.65M | -346.05M | -55.16M | -177.11M |
| Financing Cash Flow | -227.94M | -306.70M | -272.37M | -368.10M | -366.81M | -420.08M |
Macauto Industrial Co., Ltd Peers Comparison
Overall Rating
TW:133971Outperform- TW:995169Neutral
TW:224347Neutral
TW:355238Underperform
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| TW:1339 | 71Outperform | TWD 2.94B | 7.28 | ― | 6.30% | -10.90% | 163.84% |
| TW:9951 | 69Neutral | TWD 3.20B | 8.96 | ― | 7.46% | 5.34% | 1.56% |
| Sector * | 55Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
| TW:2243 | 47Neutral | TWD 3.80B | 41.97 | ― | ― | 9.09% | 167.63% |
| TW:3552 | 38Underperform | TWD 3.08B | -9.39 | ― | 1.59% | -3.76% | -661.55% |
* General Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| TW:9951 | Macauto Industrial Co., Ltd | 43.60 | -11.87 | -21.39% | |
| TW:1339 | Y.C.C. Parts Mfg. Co., Ltd. | 39.70 | -1.64 | -3.97% | |
| TW:2243 | Horng Shiue Holding Co., Ltd. | 49.10 | 37.55 | 325.11% | |
| TW:2256 | oToBrite Electronic,Inc. | 70.80 | 43.20 | 156.50% | |
| TW:3552 | Tung Thih Electronic Co., Ltd. | 31.45 | -38.91 | -55.30% | |
| TW:7955 | Car Quality Automotive Co., Ltd. | 169.50 | -30.50 | -15.25% |
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