Dyaco International Inc. AI Stock Analysis
Dyaco International Inc. (1598) AI Stock Analysis
Dyaco International Inc.
(TWSE:1598)
Dyaco scores poorly, driven primarily by deteriorating fundamentals: a multi-year revenue collapse since the post-pandemic fitness boom, a swing to sizeable operating and net losses in 2025, and a sharp reversal to negative operating and free cash flow at a time when leverage has crept back above 1.0x debt-to-equity and equity is eroding. Technicals reinforce the caution, with the price below all key moving averages and negative MACD momentum. Valuation offers little support given negative earnings, and while the 2.6% dividend yield is attractive on paper, cash burn raises questions over its durability. The main positives — a stable ~36% gross margin, a still-adequate equity cushion, and a track record of cash generation in healthier demand years — are not yet enough to offset the risks until revenue stabilizes and cash flow turns positive.
Dyaco International Inc. (1598) vs. SPDR S&P 500 ETF (SPY)
- Market Cap
- TWD 3.06B
- Dividend Yield
- 2.68%
- Average Volume (3M)
- 191.03K
- Price to Earnings (P/E)
- -16.8
- Beta (1Y)
- 0.31
- Revenue Growth
- -17.50%
- EPS Growth
- -68.01%
- Country
- TW
- Employees
- 642
- Sector
- General
- Sector Strength
- 55
- Industry
- Leisure
Dyaco International Inc. Business Overview & Revenue Model
Company Description
Dyaco International Inc., headquartered in Taipei City, Taiwan since its establishment in 1990, operates globally in the design, manufacturing, and distribution of fitness, physical therapy, and sports equipment. The company's diverse product range f...
Dyaco International Inc. Financial Statement Overview
Summary
Very weak. Revenue fell another 10.2% in 2025 to NT$6.12bn, extending a decline of more than 50% from the 2020 peak, and the company swung to a NT$414m operating loss (-11.1% margin) and a NT$561m net loss. Cash generation reversed decisively: operating cash flow turned to a NT$397m outflow and free cash flow to negative NT$714m, a swing of nearly NT$900m. The balance sheet is the relative bright spot but is deteriorating — equity has fallen to NT$4.13bn (about 40% of assets) while debt rose, pushing debt-to-equity back above 1.0x and ROE to -13.6%. Offsetting positives are a resilient gross margin near 36% and a history of positive cash flow in more normal demand years, but restoring revenue stability and positive operating cash flow remains unproven.
Income Statement
21NegativeBalance Sheet
44NeutralCash Flow
20Very Negative| Breakdown | TTM | Dec 2025 | Dec 2024 | Mar 2024 | Mar 2023 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 5.87B | 6.12B | 7.22B | 7.79B | 7.12B | 11.74B |
| Gross Profit | 2.13B | 2.20B | 2.58B | 2.67B | 2.09B | 4.06B |
| EBITDA | -145.28M | -410.14M | 455.16M | 194.61M | 257.24M | 901.30M |
| Net Income | -186.89M | -561.45M | 71.95M | -122.77M | -94.68M | 440.34M |
Balance Sheet | ||||||
| Total Assets | 9.66B | 10.23B | 11.12B | 11.29B | 11.96B | 12.18B |
| Cash, Cash Equivalents and Short-Term Investments | 910.10M | 672.21M | 1.22B | 1.26B | 1.37B | 1.51B |
| Total Debt | 3.81B | 4.35B | 4.14B | 4.36B | 5.53B | 5.12B |
| Total Liabilities | 5.20B | 5.76B | 6.17B | 6.52B | 7.90B | 7.81B |
| Stockholders Equity | 4.13B | 4.13B | 4.55B | 4.37B | 3.67B | 3.99B |
Cash Flow | ||||||
| Free Cash Flow | 66.53M | -714.01M | 174.41M | 352.51M | 238.40M | -1.07B |
| Operating Cash Flow | 257.40M | -397.43M | 492.26M | 616.61M | 626.77M | -781.46M |
| Investing Cash Flow | 194.68M | -475.62M | -217.26M | -166.51M | -436.62M | -603.49M |
| Financing Cash Flow | -203.10M | 346.00M | -314.41M | -397.46M | -355.28M | 1.08B |
Dyaco International Inc. Peers Comparison
Overall Rating
TW:846353Neutral
TW:844250Neutral
TW:892444Neutral
TW:456440Underperform- TW:159840Underperform
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| Sector * | 55Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
| TW:8463 | 53Neutral | TWD 3.19B | 10.84 | ― | 3.77% | -3.02% | -15.76% |
| TW:8442 | 50Neutral | TWD 3.06B | 13.79 | ― | 7.02% | 2.74% | -56.77% |
| TW:8924 | 44Neutral | TWD 3.28B | -823.96 | ― | 10.87% | 1.49% | -100.78% |
| TW:4564 | 40Underperform | TWD 3.26B | -9.39 | ― | ― | -28.53% | 21.13% |
| TW:1598 | 40Underperform | TWD 3.07B | -16.80 | ― | 2.68% | -17.50% | -68.01% |
* General Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| TW:1598 | Dyaco International Inc. | 18.65 | -4.24 | -18.53% | |
| TW:4564 | Mosa Industrial Corp. | 14.00 | -2.20 | -13.58% | |
| TW:4570 | Jason Co., Ltd. (Taiwan) | 70.00 | 5.58 | 8.66% | |
| TW:8442 | WW Holding, Inc. | 42.75 | -26.49 | -38.26% | |
| TW:8463 | Ruentex Materials Co Ltd | 21.20 | -4.15 | -16.36% | |
| TW:8924 | O-TA Precision Industry Co., Ltd. | 39.55 | -28.58 | -41.95% |
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