FEAF
TWSE

4439 冠星-KY

95.50 ▼ 2.70 (2.75%) Close · 2026-11-13 · TWSE
Ask about 4439
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: 4 strengths against 1 watch-outs. Weigh them against your own goals.

For a moderate profile, none of the items above crosses the watch-out thresholds set by the team.

In plain words

Company 4439 presents a P/E of 11.24, well below the Textiles median of 16.16, supported by 29.3% revenue growth in 2025 and Q3 2026. It exhibits moderate profitability with a return on equity of 9.0%, a 4.0% net margin, and positive free cash flow of 47 NT$ million in 2025. However, liabilities represent a heavy debt load at 51.9% of total assets in Q3 2026, alongside 2 verified alerts including a financial chief change announcement on 2026-11-12. Overall, the data shows a mixed picture of four strengths against one watch-out. Ultimately, all investment decisions rest 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 1.3% perpetual growth, within the 3.5% ceiling: expectations look attainable. source (Valuation) →
+ P/E 11.24 is well below the Textiles median of 16.16 (30 listed peers): priced cheaper than peers. source (Key Stats) →
+ Revenue grew 29.3% in 2025; latest quarter Q3 2026: 29.3% year on year. source (Financials) →
+ Free cash flow was positive in 2025: 47 NT$ million. source (Financials) →

Watch-outs

! Liabilities are 51.9% of total assets (Q3 2026): a heavy debt load. source (Financials) →

What to check before deciding

?Can operating cash cover the debt if conditions tighten?

What the analysis found

+ Valuation (DCF) The current price implies 1.3% perpetual growth, within the 3.5% ceiling: expectations look attainable. source →
+ Valuation vs peers P/E 11.24 is well below the Textiles median of 16.16 (30 listed peers): priced cheaper than peers. source →
+ Growth Revenue grew 29.3% in 2025; latest quarter Q3 2026: 29.3% year on year. source →
· Profitability Return on equity 9.0% with a 4.0% net margin: moderate profitability. source →
! Debt Liabilities are 51.9% of total assets (Q3 2026): a heavy debt load. source →
+ Cash flow Free cash flow was positive in 2025: 47 NT$ million. source →
· Filings 2 verified alert(s); latest on 2026-11-12: 公告財會主管異動 source →
· Filings 9 filing(s) are held or rejected and wait for human review. source →