FEAF
TWSE

2324 仁寶

30.10 ▲ 0.10 (0.33%) Close · 2026-11-13 · TWSE
Ask about 2324
This is research, not a buy or sell recommendation. Robo-advice in Taiwan requires an FSC licence; FEAF analyses, explains and monitors, and the investor makes the decision. Judgement thresholds are working rules pending review by the team's finance members.

Plain-language summary of valuation, growth, profitability, balance sheet, and recent MOPS filings.

Your risk profile
Conclusion

Mixed picture: 2 strengths against 3 watch-outs. Weigh them against your own goals.

Points to watch for a moderate profile: see the items marked above.

In plain words

For company 2324, the P/E ratio of 15.13 is close to the industry median of 15.10, while the current price implies a -12.7% perpetual growth rate. Revenue fell -16.8% in 2025 but grew 32.1% year on year in Q2 2026, supported by a positive free cash flow of 21,623 NT$ million in 2025. However, profitability is weak with a 6.1% return on equity and a 1.0% net margin, alongside a heavy debt load with liabilities at 70.6% of total assets in Q2 2026. Overall, the company presents a mixed picture of 2 strengths against 3 watch-outs. Ultimately, the final decision rests entirely with the investor.

Written by gemini-3.6-flash from the facts above; every number was checked against them.

Strengths

+ The current price implies -12.7% perpetual growth, within the 3.5% ceiling: expectations look attainable. source (Valuation) →
+ Free cash flow was positive in 2025: 21,623 NT$ million. source (Financials) →

Watch-outs

! Revenue fell -16.8% in 2025; latest quarter Q2 2026: 32.1% year on year. source (Financials) →
! Return on equity 6.1% with a 1.0% net margin: weak profitability. source (Key Stats) →
! Liabilities are 70.6% of total assets (Q2 2026): a heavy debt load. source (Financials) →

What to check before deciding

?Is the revenue decline temporary or structural?
?What would lift profitability, and how soon?
?Can operating cash cover the debt if conditions tighten?

What the analysis found

+ Valuation (DCF) The current price implies -12.7% perpetual growth, within the 3.5% ceiling: expectations look attainable. source →
· Valuation vs peers P/E 15.13 is close to the Computers and peripherals median of 15.10 (55 listed peers). source →
! Growth Revenue fell -16.8% in 2025; latest quarter Q2 2026: 32.1% year on year. source →
! Profitability Return on equity 6.1% with a 1.0% net margin: weak profitability. source →
! Debt Liabilities are 70.6% of total assets (Q2 2026): a heavy debt load. source →
+ Cash flow Free cash flow was positive in 2025: 21,623 NT$ million. source →
· Filings 1 verified alert(s); latest on 2026-11-12: 公告本公司董事會通過民國115年第三季合併財務報告 source →
· Filings 2 filing(s) are held or rejected and wait for human review. source →