Meiloon Industrial Co., Ltd. AI Stock Analysis
Meiloon Industrial Co., Ltd. (2477) AI Stock Analysis
Meiloon Industrial Co., Ltd.
(TWSE:2477)
Meiloon earns a below-average score. The dominant factor is a financial profile that is stable but lacks momentum: a multi-year revenue decline, thin 4.8% operating margins with profit dependent on non-operating income, low 6.4% ROE, rising debt and weakening cash conversion offset an otherwise solid, roughly 50% equity-funded balance sheet and recovered gross margins. Technicals add further drag, with the price below all key moving averages and negative MACD signalling a downtrend. Valuation is the partial bright spot — a 6.5% dividend yield is compelling, but the 24.5x P/E leaves little room for disappointment given the lack of top-line growth. A turnaround in revenue and core operating profitability would be needed for a materially higher rating.
Meiloon Industrial Co., Ltd. (2477) vs. SPDR S&P 500 ETF (SPY)
- Market Cap
- TWD 3.35B
- Dividend Yield
- 6.57%
- Average Volume (3M)
- 142.21K
- Price to Earnings (P/E)
- 24.1
- Beta (1Y)
- 0.44
- Revenue Growth
- 6.09%
- EPS Growth
- -56.35%
- Country
- TW
- Employees
- 1,381
- Sector
- General
- Sector Strength
- 55
- Industry
- Consumer Electronics
Meiloon Industrial Co., Ltd. Business Overview & Revenue Model
Company Description
Meiloon Industrial Co., Ltd. operates internationally as an original design and equipment manufacturer (ODM/OEM), specializing in the production of audio systems and loudspeakers. Its comprehensive product range encompasses various speaker solutions,...
Meiloon Industrial Co., Ltd. Financial Statement Overview
Summary
Meiloon shows a stabilizing but unexciting financial profile. Gross margin recovered strongly to 23.8% and net profit reached NT$267m (10.7% net margin), yet revenue continues to contract (NT$3.76bn in 2021 to NT$2.50bn in 2025) and core operating margin is thin at 4.8%, meaning reported earnings lean heavily on non-operating income. The balance sheet is the relative strength: equity funds roughly half of NT$8.30bn in assets and debt-to-equity of 0.53 remains manageable, though debt rose 18% and ROE is a modest 6.4%. Cash flow is positive but weakening, with free cash flow down 37% to NT$215m and covering only 59% of net income.
Income Statement
56NeutralBalance Sheet
64PositiveCash Flow
59Neutral| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.41B | 2.50B | 2.64B | 2.33B | 3.49B | 3.76B |
| Gross Profit | 537.51M | 593.81M | 685.37M | 322.09M | 481.23M | 621.37M |
| EBITDA | 57.58M | 262.03M | 523.49M | 220.65M | 412.42M | 2.72B |
| Net Income | 139.78M | 266.69M | 237.94M | 37.35M | 93.29M | 1.64B |
Balance Sheet | ||||||
| Total Assets | 8.68B | 8.30B | 8.29B | 7.75B | 8.05B | 9.05B |
| Cash, Cash Equivalents and Short-Term Investments | 4.41B | 4.16B | 4.11B | 3.73B | 3.87B | 4.33B |
| Total Debt | 2.65B | 2.21B | 1.87B | 1.96B | 1.92B | 2.14B |
| Total Liabilities | 4.29B | 3.77B | 3.57B | 3.46B | 3.67B | 4.42B |
| Stockholders Equity | 4.08B | 4.20B | 4.37B | 3.95B | 4.05B | 4.32B |
Cash Flow | ||||||
| Free Cash Flow | 206.08M | 214.63M | 342.50M | -50.32M | 132.59M | -1.44B |
| Operating Cash Flow | 365.00M | 361.69M | 426.97M | 173.69M | 341.17M | -883.68M |
| Investing Cash Flow | -18.73M | 223.28M | 498.70M | -1.37B | -151.08M | 1.61B |
| Financing Cash Flow | 403.44M | 130.76M | -174.37M | -67.15M | -899.89M | 23.87M |
Meiloon Industrial Co., Ltd. Peers Comparison
Overall Rating
TW:328770Outperform
TW:522569Neutral
TW:626663Neutral- TW:247756Neutral
TW:358146Neutral
TW:302441Neutral
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| TW:3287 | 70Outperform | TWD 3.48B | 9.15 | ― | 1.99% | 20.68% | ― |
| TW:5225 | 69Neutral | TWD 3.43B | 6.52 | ― | 16.81% | -8.09% | -73.34% |
| TW:6266 | 63Neutral | TWD 3.32B | 11.17 | ― | 8.30% | -2.31% | -10.04% |
| TW:2477 | 56Neutral | TWD 3.33B | 24.14 | ― | 6.57% | 6.09% | -56.35% |
| Sector * | 55Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
| TW:3581 | 46Neutral | TWD 4.19B | 37.01 | ― | 0.72% | 29.43% | ― |
| TW:3024 | 41Neutral | TWD 3.24B | 311.35 | ― | 1.88% | -63.48% | -92.73% |
* General Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| TW:2477 | Meiloon Industrial Co., Ltd. | 21.30 | -1.38 | -6.06% | |
| TW:3024 | Action Electronics Co., Ltd | 11.70 | 0.65 | 5.87% | |
| TW:3287 | KWorld Computer Co., Ltd. | 75.20 | 45.01 | 149.07% | |
| TW:3581 | Zen Voce Corporation | 83.20 | 30.54 | 57.99% | |
| TW:5225 | Eastech Holding Limited | 42.90 | -51.39 | -54.50% | |
| TW:6266 | Top Union Electronics Corp. | 21.45 | -5.95 | -21.70% |
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