Bionet Corp. (1784) AI Stock Analysis

Bionet Corp.

(TPEx:1784)

Select Model

Rating:61Neutral

Price Target:TWD 48.00▲(6.67% Upside)

Action:initiatedcoverage

Date:11/10/26

The score is primarily supported by a strong balance sheet and sustained long-term revenue growth. However, deteriorating profitability and cash generation, combined with clearly bearish technical trends and a demanding P/E ratio, materially limit the overall rating.

Positive Factors

Steady Revenue GrowthSteady revenue expansion through 2025 indicates continued demand for Bionet’s patient-monitoring and diagnostic offerings. The strong latest-year increase supports a durable growth base, giving the company more opportunity to leverage its healthcare relationships and expand operating scale.

Negative Factors

Operating Profitability DeteriorationThe shift to slightly negative operating profit shows that recent revenue growth is not currently converting into healthy core earnings. If this persists, it could limit internal funding capacity and weaken the company’s ability to turn stable gross margins into durable shareholder returns.

Bionet Corp. (1784) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 2.26B
Dividend Yield: 1.96%
Average Volume (3M): 75.17K
Price to Earnings (P/E): 40.2
Beta (1Y): 0.80
Revenue Growth: 5.41%
EPS Growth: -19.02%
Country: TW
Employees: 80
Sector: General
Sector Strength: 55
Industry: Biotechnology

Bionet Corp. Business Overview & Revenue Model

Company Description

Established in 1989 and headquartered in Taipei City, Taiwan, BIONET Corp. is a global leader in umbilical cord blood preservation, serving clients across Taiwan and internationally. The company provides a comprehensive suite of stem cell banking ser...

Bionet Corp. Financial Statement Overview

Summary

Strong, conservatively financed balance sheet supports the score, but weaker operating profitability, declining return on equity, and sharply reduced free cash flow offset the positive revenue trajectory.

Income Statement

62Positive

Balance Sheet

85Very Positive

Cash Flow

55Neutral

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	1.29B	1.24B	1.22B	1.13B	980.38M	921.42M
Gross Profit	722.28M	683.87M	685.77M	638.28M	542.22M	503.07M
EBITDA	63.56M	47.87M	149.09M	147.10M	113.97M	80.41M
Net Income	45.86M	51.43M	83.70M	78.40M	37.97M	26.62M
Balance Sheet
Total Assets	3.08B	3.08B	3.16B	2.35B	1.84B	1.78B
Cash, Cash Equivalents and Short-Term Investments	1.46B	1.40B	1.58B	907.35M	438.82M	385.09M
Total Debt	141.63M	116.27M	96.43M	45.01M	15.25M	14.52M
Total Liabilities	879.32M	822.58M	760.40M	626.47M	513.97M	468.19M
Stockholders Equity	1.23B	1.27B	1.33B	1.19B	1.08B	1.10B
Cash Flow
Free Cash Flow	96.07M	15.86M	73.00M	126.81M	61.74M	-2.79M
Operating Cash Flow	195.41M	148.04M	176.49M	153.09M	94.65M	13.88M
Investing Cash Flow	-89.37M	35.37M	-778.15M	-409.93M	-2.91M	-4.59M
Financing Cash Flow	-70.96M	-169.96M	605.46M	333.98M	-51.90M	-15.60M

Bionet Corp. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:1784 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:4155	64Neutral	TWD 2.19B	10.00	―	1.78%	-10.90%	―
TW:1784	61Neutral	TWD 2.38B	40.18	―	1.96%	5.41%	-19.02%
TW:4175	60Neutral	TWD 2.09B	13.16	―	6.00%	2.49%	5.18%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%

* General Sector Average

Performance Comparison

TW:1784 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:1784	Bionet Corp.	45.00	-56.02	-55.46%
TW:4155	Ok Biotech Co., Ltd.	16.90	1.37	8.84%
TW:4175	MedFirst Healthcare Services, Inc. (TW)	50.00	-3.90	-7.23%
TW:6892	Taiwan Bio Therapeutics Co., Ltd.	26.00	-3.45	-11.72%
TW:6918	A Plus Biotechnology Co Ltd	74.90	-7.83	-9.46%
TW:6955	Bonraybio Co. Ltd.	87.30	-46.17	-34.59%

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

Bionet Corp. AI Stock Analysis