Tex-Ray Industrial Co., Ltd. (1467) AI Stock Analysis

Tex-Ray Industrial Co., Ltd.

(TWSE:1467)

Select Model

Rating:41Neutral

Price Target:TWD 7.50▼(-2.60% Downside)

Action:initiatedcoverage

Date:11/10/26

The score is primarily constrained by very weak financial performance, including steep revenue decline, losses, leverage, and inconsistent cash generation. Bearish technical indicators and a relatively high P/E provide additional pressure.

Positive Factors

Positive Cash GenerationCash generation has generally been stronger than reported earnings, with operating and free cash flow positive in most periods. Positive free cash flow in 2025 provides internal funding capacity and some resilience, even though the longer-term trajectory remains uneven.

Negative Factors

Inconsistent ProfitabilityRepeated net losses and thin, unstable operating profitability weaken the reliability of earnings and reduce the company’s ability to reinvest consistently. Earnings volatility can also limit financial flexibility and make performance more dependent on changes in costs or demand.

Tex-Ray Industrial Co., Ltd. (1467) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 1.75B
Dividend Yield: ―
Average Volume (3M): 232.05K
Price to Earnings (P/E): 29.6
Beta (1Y): 0.47
Revenue Growth: 1.24%
EPS Growth: ―
Country: TW
Employees: 8,628
Sector: General
Sector Strength: 55
Industry: Apparel - Manufacturers

Tex-Ray Industrial Co., Ltd. Business Overview & Revenue Model

Company Description

Established in 1978 and headquartered in Taipei, Taiwan, Tex-Ray Industrial Co., Ltd. is a multifaceted company primarily engaged in the textile sector. Its operations span the entire textile value chain, including the spinning of yarns, weaving, man...

Tex-Ray Industrial Co., Ltd. Financial Statement Overview

Summary

Very weak overall financial condition: severe revenue deterioration, a net loss, high leverage, negative ROE, and volatile cash generation outweigh positive gross margin and 2025 operating and free cash flow.

Income Statement

24Negative

Balance Sheet

42Neutral

Cash Flow

36Negative

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	5.23B	5.15B	5.04B	4.56B	6.13B	6.64B
Gross Profit	1.00B	988.62M	1.06B	769.70M	1.30B	1.33B
EBITDA	432.25M	310.07M	522.63M	282.35M	366.17M	392.59M
Net Income	60.03M	-105.30M	108.34M	-165.76M	-38.38M	-30.88M
Balance Sheet
Total Assets	9.14B	8.73B	8.74B	8.27B	8.66B	8.62B
Cash, Cash Equivalents and Short-Term Investments	1.71B	2.57B	2.55B	2.33B	2.32B	1.52B
Total Debt	4.82B	4.63B	4.54B	4.23B	4.16B	3.88B
Total Liabilities	6.13B	5.75B	5.74B	5.36B	5.44B	5.51B
Stockholders Equity	2.84B	2.91B	2.89B	2.76B	3.06B	2.93B
Cash Flow
Free Cash Flow	188.24M	261.35M	30.95M	98.94M	578.04M	-530.75M
Operating Cash Flow	413.54M	317.25M	163.14M	220.24M	656.49M	-329.95M
Investing Cash Flow	-334.00M	-935.04M	-364.34M	-272.52M	-109.46M	-179.05M
Financing Cash Flow	226.77M	30.37M	281.31M	73.08M	201.66M	538.67M

Tex-Ray Industrial Co., Ltd. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:1467 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:1446	70Outperform	TWD 1.72B	16.23	―	12.00%	-65.85%	-72.33%
TW:1470	68Neutral	TWD 2.00B	18.10	―	2.78%	-7.41%	128.29%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
TW:9944	50Neutral	TWD 1.81B	24.80	―	1.76%	10.50%	―
TW:5450	46Neutral	TWD 1.64B	19.00	―	1.87%	-2.47%	26.92%
TW:4414	44Neutral	TWD 1.85B	33.28	―	―	-3.75%	-80.45%
TW:1467	41Neutral	TWD 1.80B	29.61	―	―	1.24%	―

* General Sector Average

Performance Comparison

TW:1467 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:1467	Tex-Ray Industrial Co., Ltd.	7.70	0.59	8.30%
TW:1446	Hong Ho Precision Textile Co., Ltd.	12.50	-4.34	-25.77%
TW:1470	Evertex Fabrinology Ltd.	23.35	1.25	5.64%
TW:4414	Roo Hsing Co., Ltd.	7.02	-2.97	-29.73%
TW:5450	Nam Liong Global Corporation	13.40	0.53	4.12%
TW:9944	Shinih Enterprise Co., Ltd.	17.05	0.63	3.84%

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

Tex-Ray Industrial Co., Ltd. AI Stock Analysis