Meiloon Industrial Co., Ltd. (2477) AI Stock Analysis

Meiloon Industrial Co., Ltd.

(TWSE:2477)

Select Model

Rating:58Neutral

Price Target:TWD 22.50▲(5.63% Upside)

Action:initiatedcoverage

Date:11/10/26

Moderate score driven primarily by stable but volatile financials and attractive yield, tempered by weak technical momentum and lack of earnings guidance.

Positive Factors

Improved ProfitabilityThe recovery in gross and net margins shows that Meiloon has restored meaningful profitability after weaker prior years. If these margins remain supported by its audio product manufacturing and mix, they can improve earnings resilience and provide more internal funding for operations.

Negative Factors

Weakening RevenueThe renewed decline in revenue signals that recent profitability improvement is not being accompanied by sustained top-line expansion. Persistent weakness in demand or product volumes could limit operating leverage, reduce scale benefits, and make future earnings more dependent on margins rather than business growth.

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

Revenue volatility with recent decline offset by improved gross margins of 23.8% and net margins of 10.7%. Balance sheet remains stable with debt-to-equity at 0.53 and ROE at 6.35%. Cash flows positive yet inconsistent with historical swings.

Income Statement

62Positive

Balance Sheet

68Positive

Cash Flow

55Neutral

Financial statement breakdown
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

UnderperformOutperform

Sector (55)

Financial Indicators

TW:2477 against its peers
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	58Neutral	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

TW:2477 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:2477	Meiloon Industrial Co., Ltd.	21.30	-2.46	-10.35%
TW:3024	Action Electronics Co., Ltd	11.70	0.80	7.31%
TW:3287	KWorld Computer Co., Ltd.	75.20	44.53	145.17%
TW:3581	Zen Voce Corporation	83.20	25.36	43.85%
TW:5225	Eastech Holding Limited	42.90	-49.55	-53.60%
TW:6266	Top Union Electronics Corp.	21.45	-5.95	-21.70%

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

Meiloon Industrial Co., Ltd. AI Stock Analysis