Lu Hai Holding Corp. (2115) AI Stock Analysis

Lu Hai Holding Corp.

(TWSE:2115)

Select Model

Rating:51Neutral

Price Target:TWD 23.00▲(0.22% Upside)

Action:initiatedcoverage

Date:11/10/26

The overall score is constrained by significant operational headwinds and bearish technical momentum. The primary weakness is the sustained decline in revenue and profit margins, which is reflected in the poor financial performance and negative price trends. The stock is in a clear downtrend with deeply oversold technical indicators. The main strength is the company's rock-solid balance sheet with low debt, which provides financial stability. The high dividend yield of 6.51% and a reasonable P/E of 12.48 offer a valuation cushion, but this is not enough to offset the negative operational and technical picture.

Positive Factors

Improving LeverageThe sustained reduction in debt-to-equity indicates a stronger capital structure and greater financial flexibility. Lower leverage can reduce balance-sheet pressure, improve resilience during weaker operating periods, and leave the company better positioned to fund operations or pursue investment over the next several quarters.

Negative Factors

Revenue ContractionInconsistent revenue growth and the latest decline weaken visibility into the company’s expansion trajectory. If this pattern persists, slower top-line growth could limit operating leverage, constrain reinvestment opportunities, and make future earnings improvement more dependent on cost control rather than demand growth.

Lu Hai Holding Corp. (2115) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 2.40B
Dividend Yield: 6.54%
Average Volume (3M): 57.80K
Price to Earnings (P/E): 12.6
Beta (1Y): 0.24
Revenue Growth: 13.54%
EPS Growth: -9.75%
Country: TW
Employees: 1,291
Sector: General
Sector Strength: 55
Industry: Auto - Parts

Lu Hai Holding Corp. Business Overview & Revenue Model

Company Description

Luhai Holding Corp., founded in 1980 and based in Changhua, Taiwan, operates as a worldwide supplier of tire valve systems and associated products. The company's diverse product portfolio encompasses a full spectrum of valves, including sophisticated...

Lu Hai Holding Corp. Financial Statement Overview

Summary

Financial performance is mixed. The balance sheet is strong with low and declining debt-to-equity (0.27), but this is offset by deteriorating profitability. Revenue has declined for two consecutive years, net profit margin has compressed to 5.5% from over 22% in 2020, and free cash flow is on a downward trend with a conversion ratio below 0.5. The company is financially stable but shows significant operational weakness.

Income Statement

35Negative

Balance Sheet

72Positive

Cash Flow

40Negative

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	3.17B	2.98B	3.13B	2.59B	3.04B	3.40B
Gross Profit	580.51M	615.28M	692.70M	532.61M	664.58M	846.00M
EBITDA	466.21M	520.47M	617.24M	568.47M	583.38M	720.88M
Net Income	164.74M	165.32M	213.52M	175.03M	226.86M	399.29M
Balance Sheet
Total Assets	5.09B	4.64B	4.94B	4.73B	4.87B	5.17B
Cash, Cash Equivalents and Short-Term Investments	889.69M	844.42M	1.03B	981.99M	1.08B	1.17B
Total Debt	992.83M	862.73M	1.08B	1.06B	1.06B	1.26B
Total Liabilities	1.79B	1.40B	1.67B	1.70B	1.83B	2.21B
Stockholders Equity	3.28B	3.22B	3.27B	3.03B	3.04B	2.96B
Cash Flow
Free Cash Flow	-107.82M	153.23M	99.95M	28.86M	315.30M	-152.04M
Operating Cash Flow	98.07M	349.41M	245.18M	261.52M	700.50M	407.46M
Investing Cash Flow	-112.18M	-160.91M	-136.65M	-227.44M	-303.62M	-216.47M
Financing Cash Flow	-150.88M	-352.01M	-95.11M	-117.38M	-422.86M	88.41M

Lu Hai Holding Corp. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:2115 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:1568	63Neutral	TWD 2.69B	14.52	―	3.64%	4.95%	65.01%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
TW:4557	52Neutral	TWD 2.57B	-13.57	―	3.72%	-15.26%	314.72%
TW:2115	51Neutral	TWD 2.40B	12.56	―	6.54%	13.54%	-9.75%
TW:1517	41Neutral	TWD 2.15B	-15.74	―	1.99%	-4.28%	19.85%
TW:4545	40Underperform	TWD 2.68B	27.59	―	0.34%	1.97%	1277.45%
TW:1533	39Underperform	TWD 2.44B	9.23	―	―	20.93%	285.82%

* General Sector Average

Performance Comparison

TW:2115 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:2115	Lu Hai Holding Corp.	22.95	-1.40	-5.76%
TW:1517	Lee Chi Enterprises Co., Ltd.	10.05	-1.52	-13.17%
TW:1533	Mobiletron Electronics Co., Ltd.	24.75	-8.05	-24.54%
TW:1568	Tsang Yow Industrial Co., Ltd.	27.45	6.27	29.62%
TW:4545	Min Aik Precision Industrial Co., Ltd.	38.20	4.93	14.80%
TW:4557	Yusin Holding Corp.	53.80	-11.84	-18.04%

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

Lu Hai Holding Corp. AI Stock Analysis