Hi-Clearance Inc. (1788) AI Stock Analysis

Hi-Clearance Inc.

(TPEx:1788)

Select Model

Rating:71Outperform

Price Target:TWD 138.00▲(9.52% Upside)

Action:initiatedcoverage

Date:11/10/26

The score is supported primarily by solid financial performance and attractive valuation. Weak cash-flow quality and bearish technical momentum weigh on the result, despite oversold technical readings.

Positive Factors

Steady Revenue GrowthRenewed revenue growth through 2025 indicates that the company has maintained commercial momentum after an earlier decline. Continued top-line expansion can support operating scale, reinforce market presence, and provide a durable foundation for earnings growth over the coming quarters.

Negative Factors

Weaker Cash Flow MomentumAlthough cash generation remains positive, the recent decline in operating and free cash flow makes earnings conversion less consistent. Continued volatility could constrain internally funded investment, reduce financial flexibility, and increase execution risk if weaker cash generation persists.

Hi-Clearance Inc. (1788) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 5.59B
Dividend Yield: 5.56%
Average Volume (3M): 20.00K
Price to Earnings (P/E): 14.2
Beta (1Y): 0.02
Revenue Growth: 7.58%
EPS Growth: 13.04%
Country: TW
Employees: 150
Sector: General
Sector Strength: 55
Industry: Medical - Specialties

Hi-Clearance Inc. Business Overview & Revenue Model

Company Description

Established in 1989 and headquartered in New Taipei City, Taiwan, Hi-Clearance Inc. is a prominent supplier of medical devices and associated services throughout Taiwan. The company's comprehensive product range addresses various healthcare sectors,...

Hi-Clearance Inc. Financial Statement Overview

Summary

Financial strength is good overall, supported by steady profitability, moderate leverage, and a well-capitalized balance sheet. Weaker cash conversion, negative free-cash-flow growth, and softer operating margins limit the score.

Income Statement

78Positive

Balance Sheet

84Very Positive

Cash Flow

62Positive

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	4.41B	4.28B	4.07B	3.90B	4.69B	3.68B
Gross Profit	1.22B	1.14B	1.07B	1.02B	1.05B	968.97M
EBITDA	631.99M	620.80M	636.07M	580.00M	625.93M	595.93M
Net Income	391.96M	368.51M	359.69M	347.98M	366.43M	348.59M
Balance Sheet
Total Assets	5.29B	5.08B	4.96B	4.62B	4.51B	4.44B
Cash, Cash Equivalents and Short-Term Investments	564.80M	599.45M	545.53M	453.10M	417.23M	404.56M
Total Debt	1.16B	1.06B	971.65M	644.74M	1.03B	1.14B
Total Liabilities	2.34B	2.03B	1.96B	1.63B	2.07B	2.13B
Stockholders Equity	2.95B	3.05B	3.00B	2.98B	2.44B	2.30B
Cash Flow
Free Cash Flow	263.60M	295.39M	225.55M	371.54M	300.49M	137.28M
Operating Cash Flow	354.70M	400.70M	510.12M	433.49M	403.16M	287.79M
Investing Cash Flow	-119.56M	-98.43M	-377.19M	-66.45M	-82.61M	-158.04M
Financing Cash Flow	-279.22M	-241.32M	-122.33M	-288.44M	-342.13M	-196.90M

Hi-Clearance Inc. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:1788 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:1788	71Outperform	TWD 5.57B	14.19	―	5.56%	7.58%	13.04%
TW:4166	70Outperform	TWD 5.47B	22.78	―	―	―	―
TW:4126	68Neutral	TWD 5.39B	12.54	―	6.00%	1.32%	7.25%
TW:1734	64Neutral	TWD 6.07B	17.33	―	3.13%	2.44%	-3.96%
TW:4163	59Neutral	TWD 6.41B	20.66	―	2.78%	4.16%	40.82%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
TW:1799	45Neutral	TWD 6.24B	-264.14	―	―	59.53%	83.16%

* General Sector Average

Performance Comparison

TW:1788 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:1788	Hi-Clearance Inc.	126.00	-4.42	-3.39%
TW:1734	Sinphar Pharmaceutical Co. Ltd.	30.15	1.89	6.71%
TW:1799	Easywell Biomedicals, Inc.	24.55	-7.65	-23.76%
TW:4126	Pacific Hospital Supply Co., Ltd.	75.00	-8.51	-10.19%
TW:4163	Intai Technology Corp.	126.00	30.50	31.94%
TW:4166	Orient Pharma Co., Ltd.	22.55	-1.95	-7.96%

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

Hi-Clearance Inc. AI Stock Analysis