Makalot Industrial Co., Ltd. (1477) AI Stock Analysis

Makalot Industrial Co., Ltd.

(TWSE:1477)

Select Model

Rating:79Outperform

Price Target:TWD 244.00▲(14.55% Upside)

Action:initiatedcoverage

Date:11/10/26

The score is driven primarily by strong profitability, low leverage, and high return on equity. Attractive valuation and positive intermediate-term momentum support the assessment, while weaker cash-flow performance and the price remaining below its 200-day average are the main constraints.

Positive Factors

Strong ProfitabilityStrong and relatively consistent gross, operating, and net margins indicate a profitable business model with meaningful earnings retained from sales. This profitability can support reinvestment, resilience through softer demand, and continued value creation over the next several quarters.

Negative Factors

Limited Revenue GrowthThe company’s revenue growth has cooled across recent periods, with modest-to-negative annual performance and only a slight TTM improvement. This limits operating leverage and makes future earnings expansion more dependent on maintaining margins rather than broadening the revenue base.

Makalot Industrial Co., Ltd. (1477) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 53.16B
Dividend Yield: 7.04%
Average Volume (3M): 1.56M
Price to Earnings (P/E): 14.1
Beta (1Y): 0.39
Revenue Growth: -2.23%
EPS Growth: 0.65%
Country: TW
Employees: 814
Sector: General
Sector Strength: 55
Industry: Apparel - Manufacturers

Makalot Industrial Co., Ltd. Business Overview & Revenue Model

Company Description

Makalot Industrial Co., Ltd., founded in 1990 and headquartered in Taipei City, Taiwan, is an apparel company that manages the entire process from designing and manufacturing to the final sale of clothing. The firm offers a diverse product portfolio...

Makalot Industrial Co., Ltd. Financial Statement Overview

Summary

Strong profitability and balance-sheet quality, supported by low leverage and 27.6% ROE. Weaker free-cash-flow growth, reduced cash conversion, and declining equity limit the score.

Income Statement

82Very Positive

Balance Sheet

88Very Positive

Cash Flow

68Positive

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	34.47B	34.43B	35.52B	32.46B	32.08B	28.93B
Gross Profit	8.79B	8.56B	8.99B	8.26B	8.26B	6.53B
EBITDA	5.35B	5.29B	6.14B	5.39B	4.99B	3.91B
Net Income	3.74B	3.61B	4.11B	3.99B	3.51B	2.66B
Balance Sheet
Total Assets	23.17B	23.90B	23.20B	24.88B	24.43B	22.22B
Cash, Cash Equivalents and Short-Term Investments	4.18B	4.89B	9.16B	11.77B	11.24B	9.29B
Total Debt	2.38B	2.36B	1.50B	1.71B	2.22B	2.41B
Total Liabilities	9.76B	9.73B	8.43B	8.95B	8.98B	8.43B
Stockholders Equity	13.29B	14.04B	14.64B	15.82B	15.36B	13.71B
Cash Flow
Free Cash Flow	2.37B	3.36B	3.92B	5.30B	3.31B	2.60B
Operating Cash Flow	2.80B	4.07B	4.73B	5.79B	3.71B	3.01B
Investing Cash Flow	-178.11M	-159.98M	1.18B	-1.48B	-1.07B	-2.37B
Financing Cash Flow	-3.97B	-4.08B	-6.17B	-4.04B	-2.64B	-329.21M

Makalot Industrial Co., Ltd. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:1477 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:1477	79Outperform	TWD 53.16B	14.07	―	7.04%	-2.23%	0.65%
TW:9904	68Neutral	TWD 76.62B	5.47	―	5.03%	-6.54%	5.99%
TW:9910	68Neutral	TWD 66.95B	13.58	―	6.12%	-4.34%	-0.53%
TW:6890	66Neutral	TWD 35.04B	13.18	―	6.55%	-6.82%	-24.71%
TW:6191	63Neutral	TWD 41.64B	14.97	―	3.10%	38.15%	-5.47%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
TW:1434	52Neutral	TWD 29.61B	20.00	―	2.87%	-6.35%	147.91%

* General Sector Average

Performance Comparison

TW:1477 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:1477	Makalot Industrial Co., Ltd.	213.00	-75.99	-26.30%
TW:1434	Formosa Taffeta Co., Ltd.	17.40	1.66	10.57%
TW:6191	Global Brands Manufacture Limited	84.00	-28.65	-25.43%
TW:6890	Lai Yih Footwear Co., Ltd.	137.00	-95.42	-41.06%
TW:9904	Pou Chen Corporation	25.85	-2.49	-8.80%
TW:9910	Feng Tay Enterprise Co., Ltd.	67.00	-54.81	-45.00%

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 09, 2026

Makalot Industrial Co., Ltd. AI Stock Analysis