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D-Link Corporation (2332) AI Stock Analysis

TW:2332

D-Link Corporation

(TWSE:2332)

Select Model
Rating:37Underperform
Price Target:TWD 15.00▼(-9.91% Downside)
Action:initiatedcoverage
Date:11/10/26

The stock scores at the lowest possible level, driven by severe fundamental and technical weaknesses. The most significant factor is the company's shift to unprofitability and deeply negative cash flow, which threatens its financial stability. This is compounded by a bearish technical picture with the stock in a sustained downtrend and oversold conditions. The negative P/E ratio and negligible dividend yield provide no valuation support.

Positive Factors
Conservative Balance SheetLow leverage and a sizable equity base provide D-Link with financial resilience during an earnings downturn. Stable debt levels reduce balance-sheet pressure and preserve flexibility to support operations or recovery efforts while profitability is rebuilt.
Negative Factors
Profitability DeteriorationThe 2025 shift from historical profitability to a net loss and negative operating profit weakens earnings quality. Gross-margin compression also suggests reduced profitability per sale, making recovery dependent on improved pricing, product mix, or cost performance.

D-Link Corporation (2332) vs. SPDR S&P 500 ETF (SPY)

-20%0%20%40%60%80%TW:2332+5.38%SPY+13.89%Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
Market Cap
TWD 10.17B
Dividend Yield
0.62%
Average Volume (3M)
9.73M
Price to Earnings (P/E)
-35.4
Beta (1Y)
0.95
Revenue Growth
5.89%
EPS Growth
51.67%
Country
TW
Employees
515
Sector
General
Sector Strength
55
Industry
Communication Equipment

D-Link Corporation Business Overview & Revenue Model

Company Description

Headquartered in Taipei City, Taiwan, D-Link Corporation is a global enterprise dedicated to the innovation, development, and commercialization of a broad spectrum of networking technologies and related components. Its operations span both domestic T...

D-Link Corporation Financial Statement Overview

Summary

Financial performance is critically weak. The income statement shows a swing to net losses and negative EBIT, while the cash flow statement reveals significant cash burn with negative operating and free cash flow. The low-debt balance sheet provides a cushion, but the rapid deterioration in profitability and cash generation is a major red flag.

Income Statement

28Negative

Balance Sheet

65Positive

Cash Flow

15Very Negative
Financial statement breakdown
BreakdownTTMDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue14.01B13.37B14.40B15.94B17.08B15.52B
Gross Profit3.11B3.03B3.70B3.84B4.31B4.19B
EBITDA341.20M-15.05M750.74M1.24B714.17M693.99M
Net Income-278.82M-539.53M35.32M567.58M260.38M239.20M
Balance Sheet
Total Assets15.88B15.82B16.49B16.62B15.42B14.50B
Cash, Cash Equivalents and Short-Term Investments3.90B3.95B5.18B4.53B3.00B2.47B
Total Debt1.04B1.04B873.05M1.11B456.04M440.46M
Total Liabilities5.20B5.07B4.99B5.03B5.86B5.50B
Stockholders Equity8.21B8.30B8.97B9.08B8.91B8.48B
Cash Flow
Free Cash Flow-504.05M-332.63M1.06B967.48M91.95M-1.73B
Operating Cash Flow-407.26M-211.07M1.17B1.09B193.18M-1.67B
Investing Cash Flow-282.05M-703.23M-353.23M1.23B92.65M-1.05B
Financing Cash Flow15.09M-162.72M-773.19M-682.04M-355.27M-883.14M

D-Link Corporation Peers Comparison

Overall Rating

UnderperformOutperform
Sector (55)

Financial Indicators

TW:2332 against its peers
NameOverall RatingMarket CapP/E RatioROEDividend YieldRevenue GrowthEPS Growth
TW:6263TW:626375OutperformTWD 9.81B17.27―5.11%0.94%4.67%
TW:6245TW:624564NeutralTWD 12.89B16.84―4.43%11.74%8.17%
TW:3209TW:320959NeutralTWD 11.76B7.99―4.18%40.47%194.80%
TW:6277TW:627759NeutralTWD 8.60B14.51―4.96%12.17%31.16%
Sector *55Neutral$6.65B3.83-15.92%6.20%10.91%7.18%
TW:2485TW:248539UnderperformTWD 10.17B36.44――74.93%―
TW:2332TW:233237UnderperformTWD 9.72B-35.40―0.62%5.89%51.67%

* General Sector Average

Performance Comparison

0%100%200%300%TW:2332TW:2485TW:3209TW:6245TW:6263TW:6277Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
TW:2332 and its peers over the selected period
Show on chartTickerCompany NamePriceChange% Change
TW:2332D-Link Corporation16.651.107.07%
TW:2485Zinwell Corporation31.2013.0071.43%
TW:3209Alltek Technology Corp.47.8017.0855.59%
TW:6245Lanner Electronics Inc.85.7017.7126.05%
TW:6263Planet Technology Corporation152.5025.6920.26%
TW:6277Aten International Co., Ltd.70.5012.6921.94%
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