FORTUNE ORIENTAL CO., LTD. AI Stock Analysis
FORTUNE ORIENTAL CO., LTD. (2491) AI Stock Analysis
FORTUNE ORIENTAL CO., LTD.
(TWSE:2491)
The score is held down primarily by weak fundamentals: shrinking and highly volatile revenue, a gross margin that has collapsed below 5%, repeated operating losses, and negative operating and free cash flow despite a reported profit that stems from one-off non-operating gains. The conservatively financed, near debt-free balance sheet (debt-to-equity of 0.06) provides a meaningful cushion and limits solvency risk, but acts as a buffer rather than a growth driver. Technicals are soft, with the price below its 20-, 50- and 100-day averages and negative MACD, though it still sits above the 200-day average. The ultra-low P/E is misleading given the non-recurring nature of earnings, and the absence of a dividend offers no income support. A re-rating would require evidence of recovering sales, restored margins and positive operating cash generation.
FORTUNE ORIENTAL CO., LTD. (2491) vs. SPDR S&P 500 ETF (SPY)
- Market Cap
- TWD 2.76B
- Dividend Yield
- ―
- Average Volume (3M)
- 1.60M
- Price to Earnings (P/E)
- 2.4
- Beta (1Y)
- 1.07
- Revenue Growth
- -2.42%
- EPS Growth
- 1920.49%
- Country
- TW
- Employees
- 18
- Sector
- General
- Sector Strength
- 55
- Industry
- Furnishings, Fixtures & Appliances
FORTUNE ORIENTAL CO., LTD. Business Overview & Revenue Model
Company Description
Fortune Oriental Company Limited, with its headquarters located in New Taipei City, Taiwan, is engaged in the manufacturing and distribution of various lighting solutions throughout the Taiwanese market. The company's product line includes a wide arr...
FORTUNE ORIENTAL CO., LTD. Financial Statement Overview
Summary
Weak overall, with only the balance sheet providing support. Income statement (26): revenue has shrunk from roughly NT$400m in 2020 to about NT$180m, gross margin collapsed from ~38% to 4.5%, and the company posted an operating loss of ~NT$139m, extending a multi-year streak; the reported NT$117m net profit came from non-operating, one-off gains rather than the core business. Cash flow (15) is the weakest point: operating cash flow swung to roughly -NT$88m and free cash flow to about -NT$90m, with FCF negative in five of the past six years — profits that coincide with cash burn are a clear earnings-quality warning. Balance sheet (68) is the bright spot: debt-to-equity of just 0.06, equity funding ~55% of the NT$1.68bn asset base, and equity up ~15% year over year, giving the company staying power and minimal solvency risk.
Income Statement
26NegativeBalance Sheet
68PositiveCash Flow
15Very Negative| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 173.61M | 179.87M | 200.83M | 192.54M | -241.43M | 369.59M |
| Gross Profit | 28.75M | 8.11M | 76.46M | 51.31M | -383.81M | 242.57M |
| EBITDA | -14.93M | -97.07M | -27.19M | 91.98M | -597.71M | 142.95M |
| Net Income | 2.62B | 116.92M | -32.78M | 37.25M | -644.84M | 124.64M |
Balance Sheet | ||||||
| Total Assets | 6.31B | 1.68B | 1.43B | 1.45B | 1.38B | 2.41B |
| Cash, Cash Equivalents and Short-Term Investments | 5.09B | 1.12B | 744.00M | 793.57M | 834.20M | 1.78B |
| Total Debt | 35.10M | 54.85M | 43.01M | 53.84M | 32.67M | 28.79M |
| Total Liabilities | 1.12B | 347.60M | 205.23M | 185.94M | 152.51M | 327.79M |
| Stockholders Equity | 4.08B | 929.27M | 808.12M | 827.68M | 792.62M | 1.16B |
Cash Flow | ||||||
| Free Cash Flow | -97.87M | -90.04M | -42.76M | -100.07M | 143.47M | -55.10M |
| Operating Cash Flow | -96.76M | -88.42M | 7.08M | -39.39M | 161.05M | -38.27M |
| Investing Cash Flow | -583.93M | -69.63M | 52.13M | 27.15M | 53.24M | 33.61M |
| Financing Cash Flow | 657.17M | 182.12M | -16.09M | -29.23M | -241.50M | -10.94M |
FORTUNE ORIENTAL CO., LTD. Peers Comparison
Overall Rating
TW:333277Outperform
TW:303860Neutral
TW:359150Neutral- TW:249143Neutral
TW:495641Neutral
TW:246139Underperform
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| TW:3332 | 77Outperform | TWD 2.88B | 15.80 | ― | 3.32% | 16.93% | 34.17% |
| TW:3038 | 60Neutral | TWD 2.87B | 15.37 | ― | 6.43% | -9.99% | 1.97% |
| Sector * | 55Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
| TW:3591 | 50Neutral | TWD 3.16B | 138.00 | ― | 4.54% | 7.16% | 163.81% |
| TW:2491 | 43Neutral | TWD 2.81B | 2.42 | ― | ― | -2.42% | 1920.49% |
| TW:4956 | 41Neutral | TWD 3.22B | 90.03 | ― | ― | 1.03% | ― |
| TW:2461 | 39Underperform | TWD 3.07B | 35.22 | ― | 6.27% | 0.99% | ― |
* General Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| TW:2491 | FORTUNE ORIENTAL CO., LTD. | 34.50 | 20.60 | 148.20% | |
| TW:2461 | K LASER Technology, Inc. | 15.85 | 0.15 | 0.96% | |
| TW:3038 | Emerging Display Technologies Corp | 18.65 | -1.56 | -7.73% | |
| TW:3332 | Cincon Electronics Co., Ltd. | 60.30 | -2.18 | -3.49% | |
| TW:3591 | Edison Opto Corporation | 25.35 | 5.30 | 26.45% | |
| TW:4956 | Epileds Technologies, Inc. | 32.95 | 13.65 | 70.73% |
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