I-HWA Industrial Co., Ltd. (1456) AI Stock Analysis

I-HWA Industrial Co., Ltd.

(TWSE:1456)

Select Model

Rating:58Neutral

Price Target:TWD 16.00▲(3.23% Upside)

Action:initiatedcoverage

Date:11/10/26

The score is primarily constrained by high leverage and persistently negative cash flow, despite strong profitability. Positive technical positioning and a low P/E ratio provide meaningful support, resulting in a below-average overall stock score.

Positive Factors

Profitability RecoveryThe sharp improvement in net income indicates that the company has regained meaningful earnings power after weak prior periods. If profitability can persist, it should strengthen internal funding capacity, support reinvestment, and improve resilience through the next several quarters.

Negative Factors

Very High LeverageThe company remains heavily debt-funded, leaving a relatively thin equity cushion against asset or earnings deterioration. High leverage can increase refinancing exposure, constrain capital allocation, and amplify the impact of a weaker property cycle on financial stability.

I-HWA Industrial Co., Ltd. (1456) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 1.44B
Dividend Yield: ―
Average Volume (3M): 126.54K
Price to Earnings (P/E): 5.3
Beta (1Y): 0.35
Revenue Growth: 255.45%
EPS Growth: 488.61%
Country: TW
Employees: 48
Sector: General
Sector Strength: 55
Industry: Real Estate - Development

I-HWA Industrial Co., Ltd. Business Overview & Revenue Model

Company Description

I-Hwa Industrial Co., Ltd. is a Taiwanese enterprise primarily involved in two key areas: textiles and real estate. Its textile division handles the manufacturing, processing, and distribution of textile products. In its real estate segment, the comp...

I-HWA Industrial Co., Ltd. Financial Statement Overview

Summary

Strong profitability and revenue growth are offset by high leverage and persistently negative operating and free cash flow. The weighted financial statement scores produce a below-average overall financial profile.

Income Statement

78Positive

Balance Sheet

42Neutral

Cash Flow

15Very Negative

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	736.30M	828.99M	1.04B	1.68B	617.25M	2.36B
Gross Profit	314.29M	322.87M	353.38M	562.68M	174.40M	651.97M
EBITDA	663.61M	663.34M	476.90M	394.84M	157.49M	606.60M
Net Income	271.41M	319.37M	103.59M	5.08M	-75.46M	454.43M
Balance Sheet
Total Assets	13.51B	13.28B	12.60B	11.95B	10.82B	7.13B
Cash, Cash Equivalents and Short-Term Investments	86.89M	157.53M	341.62M	136.95M	214.92M	314.94M
Total Debt	10.71B	10.46B	10.03B	9.92B	8.78B	5.07B
Total Liabilities	11.68B	11.34B	10.98B	10.41B	9.30B	5.38B
Stockholders Equity	1.84B	1.94B	1.62B	1.53B	1.53B	1.74B
Cash Flow
Free Cash Flow	-380.10M	-463.29M	-423.13M	-974.69M	-3.68B	172.09M
Operating Cash Flow	-380.24M	-460.18M	-422.99M	-962.66M	-3.68B	180.78M
Investing Cash Flow	-3.65M	112.55M	203.12M	-160.72M	-79.71M	-156.94M
Financing Cash Flow	297.76M	263.71M	222.92M	1.12B	3.63B	140.87M

I-HWA Industrial Co., Ltd. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:1456 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:1410	58Neutral	TWD 1.57B	34.84	―	0.79%	-16.19%	224.21%
TW:1456	58Neutral	TWD 1.45B	5.34	―	―	255.45%	488.61%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
TW:1452	48Neutral	TWD 1.38B	-2311.11	―	1.92%	-15.11%	―
TW:1466	46Neutral	TWD 1.61B	-41.43	―	1.38%	-16.29%	28.23%
TW:1449	42Neutral	TWD 1.41B	-48.93	―	―	18.49%	-219.81%
TW:1454	36Underperform	TWD 1.47B	-12.77	―	0.83%	-16.18%	-29.64%

* General Sector Average

Performance Comparison

TW:1456 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:1456	I-HWA Industrial Co., Ltd.	15.50	3.30	27.05%
TW:1410	Nan Yang Dyeing & Finishing Co. Ltd.	25.40	-9.33	-26.85%
TW:1449	Chia Her Industrial Co., Ltd.	11.00	0.16	1.47%
TW:1452	Hong Yi Fiber Industry Co., Ltd.	10.40	-1.08	-9.45%
TW:1454	Taiwan Taffeta Fabric Co., Ltd	12.00	-1.04	-8.00%
TW:1466	Acelon Chemicals & Fiber Corporation.	14.50	-0.21	-1.45%

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 10, 2026

I-HWA Industrial Co., Ltd. AI Stock Analysis