Gem Terminal Industries Co., Ltd. (2460) AI Stock Analysis

Gem Terminal Industries Co., Ltd.

(TWSE:2460)

Select Model

Rating:39Underperform

Price Target:TWD 24.50▼(-12.03% Downside)

Action:initiatedcoverage

Date:11/10/26

The overall score is 39, driven primarily by severe financial weaknesses, including persistent losses, deteriorating margins, increased leverage, and negative free cash flow. Weak technical momentum and a negative P/E ratio further limit the score, while oversold technical readings offer only modest short-term support.

Positive Factors

Revenue RecoveryRevenue rebounded in 2024 and accelerated in 2025, indicating renewed top-line traction after weaker periods. If maintained, this growth can broaden the operating base and provide greater scale for restoring margins, although the pack does not establish that profitability has already followed.

Negative Factors

Profitability DeteriorationMeaningfully negative gross, operating, and net margins in 2025, together with materially widening losses, show that recent revenue growth is not converting into earnings. Persistent margin pressure can erode reinvestment capacity and make recovery dependent on difficult cost or pricing actions.

Gem Terminal Industries Co., Ltd. (2460) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 4.49B
Dividend Yield: ―
Average Volume (3M): 307.64K
Price to Earnings (P/E): -17.2
Beta (1Y): 1.35
Revenue Growth: 29.04%
EPS Growth: 22.27%
Country: TW
Employees: 19,833
Sector: General
Sector Strength: 55
Industry: Hardware, Equipment & Parts

Gem Terminal Industries Co., Ltd. Business Overview & Revenue Model

Company Description

GEM Terminal Industry Co.,Ltd. manufactures and sells electrical terminals in Asia. It offers multi-gauge materials for automobiles, high and low voltage connectors, and automotive wiring harness connectors; and special new type same material process...

Gem Terminal Industries Co., Ltd. Financial Statement Overview

Summary

Very weak financial performance: profitability and margins deteriorated sharply, losses widened, leverage increased, and free cash flow remained negative. Positive equity and improved operating cash flow provide limited support. The score reflects the required minimum of 37 because the underlying statement scores average below that level.

Income Statement

15Very Negative

Balance Sheet

38Negative

Cash Flow

25Negative

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	4.09B	3.17B	3.19B	2.59B	2.88B	4.32B
Gross Profit	183.26M	-49.31M	187.28M	75.87M	101.33M	849.54M
EBITDA	26.24M	-191.25M	83.60M	3.13M	119.65M	672.44M
Net Income	-271.12M	-500.76M	-230.08M	-173.44M	-103.11M	243.13M
Balance Sheet
Total Assets	5.20B	4.97B	5.36B	5.34B	4.82B	5.63B
Cash, Cash Equivalents and Short-Term Investments	408.11M	544.69M	988.90M	1.09B	1.20B	1.25B
Total Debt	2.93B	2.75B	2.95B	2.04B	2.10B	2.48B
Total Liabilities	3.57B	3.46B	3.39B	3.24B	2.51B	3.22B
Stockholders Equity	1.63B	1.51B	1.97B	2.11B	2.31B	2.41B
Cash Flow
Free Cash Flow	-491.92M	-97.75M	-501.07M	-222.44M	365.62M	-176.85M
Operating Cash Flow	-297.50M	118.95M	-84.81M	109.27M	685.02M	6.45M
Investing Cash Flow	-369.24M	-236.37M	-551.91M	-375.82M	-282.70M	-142.06M
Financing Cash Flow	198.72M	-128.41M	294.75M	386.13M	-465.38M	334.58M

Gem Terminal Industries Co., Ltd. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:2460 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:4942	59Neutral	TWD 4.27B	10.09	―	6.73%	2.44%	13.09%
TW:6205	59Neutral	TWD 4.61B	22.83	―	2.62%	-3.83%	30.23%
TW:6265	59Neutral	TWD 4.46B	4.63	―	―	474.42%	―
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
TW:3290	54Neutral	TWD 4.14B	9.68	―	3.30%	68.19%	116.27%
TW:5457	49Neutral	TWD 3.81B	-283.38	―	7.73%	-8.17%	-103.95%
TW:2460	39Underperform	TWD 4.59B	-17.19	―	―	29.04%	22.27%

* General Sector Average

Performance Comparison

TW:2460 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:2460	Gem Terminal Industries Co., Ltd.	27.85	12.25	78.53%
TW:3290	Donpon Precision Inc.	45.45	1.75	4.01%
TW:4942	Chia Chang Co., Ltd	29.70	-8.50	-22.24%
TW:5457	Speed Tech Corp.	19.40	-20.41	-51.27%
TW:6205	Chant Sincere Co., Ltd.	57.30	18.09	46.15%
TW:6265	Kuen Chaang Uppertech Corp.	34.55	15.10	77.63%

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 10, 2026

Gem Terminal Industries Co., Ltd. AI Stock Analysis