Everspring Industry Co., Ltd. (2390) AI Stock Analysis

Everspring Industry Co., Ltd.

(TWSE:2390)

Select Model

Rating:38Underperform

Price Target:TWD 8.50▼(-6.59% Downside)

Action:initiatedcoverage

Date:11/10/26

The overall score of 38 is critically low, driven primarily by a deeply unprofitable and cash-burning core business. The company's persistent net losses and declining revenue are the most significant risks. This is compounded by a bearish technical profile, with the stock in a strong downtrend and showing oversold momentum. A fortress-like balance sheet with minimal debt is the sole mitigating factor, providing a financial buffer but not enough to offset the severe operational and market headwinds.

Positive Factors

Conservative Balance SheetLow leverage and a substantial equity-funded capital base provide financial resilience and reduce reliance on debt financing. This gives Everspring greater flexibility to manage operating volatility, fund essential investment, and withstand weaker periods without immediate balance-sheet strain.

Negative Factors

Persistent Operating LossesFour consecutive years of operating losses show that the core business has not yet converted revenue into sustainable operating profit. Continued losses can erode capital, restrict investment capacity, and make future performance dependent on a successful cost or operational improvement program.

Everspring Industry Co., Ltd. (2390) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 1.77B
Dividend Yield: ―
Average Volume (3M): 372.98K
Price to Earnings (P/E): -39.6
Beta (1Y): 0.63
Revenue Growth: -9.88%
EPS Growth: 59.19%
Country: TW
Employees: 7,665
Sector: General
Sector Strength: 55
Industry: Communication Equipment

Everspring Industry Co., Ltd. Business Overview & Revenue Model

Company Description

Everspring Industry Co., Ltd. engages in the manufacturing, reprocessing, and trading of burglar alarm and other electronic products and parts. The company offers disaster prevention and security solutions; lighting control equipment and accessories...

Everspring Industry Co., Ltd. Financial Statement Overview

Summary

Financial performance is severely constrained by persistent net losses and declining revenue, as highlighted by a very low Income Statement Score of 18. The Cash Flow Score of 25 reflects weak and volatile cash generation. These are partially offset by a strong Balance Sheet Score of 72, indicating low debt and high financial flexibility. Overall, the core business is unprofitable and cash-burning, heavily weighing down the score.

Income Statement

18Very Negative

Balance Sheet

72Positive

Cash Flow

25Negative

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Mar 2023	Dec 2021
Income Statement
Total Revenue	649.97M	679.14M	701.51M	648.32M	591.13M	591.47M
Gross Profit	129.14M	143.19M	170.72M	162.85M	123.88M	106.10M
EBITDA	-53.48M	16.77M	24.77M	-19.98M	-725.96M	1.60B
Net Income	-45.04M	-27.40M	-241.38M	-80.48M	-865.68M	1.43B
Balance Sheet
Total Assets	2.73B	2.71B	2.83B	3.05B	3.22B	4.33B
Cash, Cash Equivalents and Short-Term Investments	904.47M	889.81M	997.48M	1.27B	1.30B	2.34B
Total Debt	185.96M	192.72M	256.62M	237.70M	307.32M	143.42M
Total Liabilities	371.36M	384.61M	484.41M	478.82M	548.97M	416.30M
Stockholders Equity	2.36B	2.32B	2.34B	2.57B	2.67B	3.91B
Cash Flow
Free Cash Flow	-46.00M	1.98M	-54.70M	-28.66M	-3.60M	-101.70M
Operating Cash Flow	-26.27M	20.45M	-41.11M	-11.95M	17.34M	-86.47M
Investing Cash Flow	-77.86M	-31.24M	-192.28M	41.68M	-280.91M	1.20B
Financing Cash Flow	57.52M	-66.42M	14.27M	-73.52M	-270.08M	-235.03M

Everspring Industry Co., Ltd. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:2390 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:6465	63Neutral	TWD 2.20B	8.71	―	0.49%	135.76%	―
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
TW:8072	54Neutral	TWD 1.85B	14.69	―	4.26%	27.49%	64.44%
TW:8089	54Neutral	TWD 1.98B	-12.87	―	3.30%	-67.55%	-168.26%
TW:6216	50Neutral	TWD 1.76B	885.71	―	5.60%	-25.98%	-97.11%
TW:8059	39Underperform	TWD 1.61B	-9.42	―	―	438.05%	69.51%
TW:2390	38Underperform	TWD 1.76B	-39.56	―	―	-9.88%	59.19%

* General Sector Average

Performance Comparison

TW:2390 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:2390	Everspring Industry Co., Ltd.	9.10	-0.60	-6.19%
TW:6216	DrayTek Corporation	18.40	-7.53	-29.03%
TW:6465	ATrack Technology Inc	38.70	22.29	135.83%
TW:8059	CastleNet Technology, Inc.	13.30	-22.19	-62.53%
TW:8072	AV Tech Corporation	23.50	-7.73	-24.76%
TW:8089	Comtrend Corp	32.90	1.90	6.13%

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

Everspring Industry Co., Ltd. AI Stock Analysis