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.
Mixed picture: 1 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
Stock 2392 presents a mixed picture with a P/E ratio of 4.60, which is below the Electronic components median of 24.93, alongside a return on equity of 12.6% and a 4.0% net margin. However, revenue fell -3.4% in 2025 and dropped -17.5% year on year in Q2 2026, while liabilities reached 73.8% of total assets in Q2 2026. Additionally, free cash flow in 2025 was negative at -13,743 NT$ million, and one filing is currently held or rejected awaiting human review. Ultimately, the final investment decision rests entirely with the investor.
Written by gemini-3.6-flash from the facts above; every number was checked against them.
Strengths
+P/E 4.60 is well below the Electronic components median of 24.93 (81 listed peers): priced cheaper than peers. source (Key Stats) →
Watch-outs
!Revenue fell -3.4% in 2025; latest quarter Q2 2026: -17.5% year on year. source (Financials) →
!Liabilities are 73.8% of total assets (Q2 2026): a heavy debt load. source (Financials) →
!Free cash flow was negative in 2025: -13,743 NT$ million, so spending exceeded operating cash. source (Financials) →
What to check before deciding
?Is the revenue decline temporary or structural?
?Can operating cash cover the debt if conditions tighten?
?What is the spending for, and when does it start paying back?
What the analysis found
+Valuation vs peersP/E 4.60 is well below the Electronic components median of 24.93 (81 listed peers): priced cheaper than peers. source →
!GrowthRevenue fell -3.4% in 2025; latest quarter Q2 2026: -17.5% year on year. source →
·ProfitabilityReturn on equity 12.6% with a 4.0% net margin: moderate profitability. source →
!DebtLiabilities are 73.8% of total assets (Q2 2026): a heavy debt load. source →
!Cash flowFree cash flow was negative in 2025: -13,743 NT$ million, so spending exceeded operating cash. source →
·Filings1 verified alert(s); latest on 2026-11-13: 本公司董事會通過民國115年第三季合併財務報告 source →
·Filings1 filing(s) are held or rejected and wait for human review. source →