Spirox Corporation (3055) AI Stock Analysis

Spirox Corporation

(TWSE:3055)

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Rating:39Underperform

Price Target:TWD 109.00▼(-17.74% Downside)

Action:initiatedcoverage

Date:11/10/26

The overall score is very low, driven primarily by a severe deterioration in financial performance, including collapsing revenues, deeply negative margins, and significant cash burn. Technical indicators confirm strong bearish momentum with the stock trading well below key moving averages. The negative P/E ratio and negligible dividend yield offer no valuation support. The only mitigating factor is a recently deleveraged balance sheet, but this is insufficient to offset the fundamental operational crisis.

Positive Factors

Low LeverageVery low leverage gives Spirox greater financial flexibility and a stronger buffer against operating volatility. The sizable equity base can help the company absorb losses, preserve access to funding, and support investment in its electronics manufacturing and automation activities.

Negative Factors

Severe Profitability DeteriorationThe shift from meaningful profitability to repeated losses is a major fundamental weakness. A net margin near negative 66% indicates that current revenue is not covering the cost structure, limiting internal investment capacity and making earnings recovery dependent on substantial operational improvement.

Spirox Corporation (3055) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 15.50B
Dividend Yield: 0.38%
Average Volume (3M): 3.63M
Price to Earnings (P/E): -121.6
Beta (1Y): 1.61
Revenue Growth: 3.62%
EPS Growth: 56.40%
Country: TW
Employees: 302
Sector: General
Sector Strength: 55
Industry: Semiconductors

Spirox Corporation Business Overview & Revenue Model

Company Description

Spirox Corporation operates globally, specializing in comprehensive technological solutions for the semiconductor, electronics manufacturing, telecommunications, and automotive industries. The company's extensive product portfolio encompasses a wide...

Spirox Corporation Financial Statement Overview

Summary

Financial health is under severe stress. Revenue has collapsed from $1.91B to $459M, net loss margin is -66%, and gross margins are below 8%. Operating cash flow is deeply negative at -$201M, indicating core operations are burning cash. The only positive is a very low debt-to-equity ratio of 0.01 after aggressive deleveraging, but this is a temporary buffer against persistent losses.

Income Statement

18Very Negative

Balance Sheet

65Positive

Cash Flow

15Very Negative

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	429.85M	459.21M	673.27M	1.34B	1.91B	2.65B
Gross Profit	57.59M	36.73M	137.76M	238.42M	171.73M	304.47M
EBITDA	-229.28M	-292.84M	-232.13M	8.47M	556.14M	-119.68M
Net Income	-128.06M	-302.97M	-251.52M	-56.09M	240.16M	-358.98M
Balance Sheet
Total Assets	1.97B	2.01B	2.59B	3.62B	4.05B	6.41B
Cash, Cash Equivalents and Short-Term Investments	815.29M	977.62M	1.40B	2.28B	1.87B	1.33B
Total Debt	19.55M	21.62M	87.93M	421.39M	474.58M	1.13B
Total Liabilities	322.20M	341.59M	464.92M	1.03B	1.21B	3.77B
Stockholders Equity	1.62B	1.65B	2.08B	2.52B	2.78B	2.32B
Cash Flow
Free Cash Flow	-280.87M	-216.90M	-221.93M	113.83M	101.83M	-350.50M
Operating Cash Flow	-247.88M	-201.08M	-208.68M	137.86M	253.17M	-117.36M
Investing Cash Flow	88.09M	-27.75M	551.44M	615.00M	-245.21M	-118.56M
Financing Cash Flow	-158.26M	-214.21M	-574.13M	-396.01M	63.57M	357.67M

Spirox Corporation Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:3055 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:6525	69Neutral	TWD 13.61B	13.06	―	4.88%	18.03%	32.50%
TW:5443	60Neutral	TWD 14.45B	26.94	―	2.55%	12.27%	46.93%
TW:3587	59Neutral	TWD 14.01B	22.07	―	2.24%	-15.79%	34.88%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
TW:8027	41Neutral	TWD 16.10B	448.44	―	―	51.23%	77.98%
TW:3055	39Underperform	TWD 14.84B	-121.56	―	0.38%	3.62%	56.40%
TW:6217	38Underperform	TWD 15.22B	-337.84	―	―	25.51%	87.28%

* General Sector Average

Performance Comparison

TW:3055 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:3055	Spirox Corporation	132.50	73.89	126.06%
TW:3587	Materials Analysis Technology Inc.	188.00	6.59	3.63%
TW:5443	Gallant Precision Machining Co., Ltd.	86.20	4.08	4.96%
TW:6217	C.C.P. Contact Probes Co., Ltd.	125.00	72.70	139.01%
TW:6525	GEM Services, Inc.	102.50	29.11	39.66%
TW:8027	E&R Engineering Corp.	143.50	56.30	64.56%

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

Spirox Corporation AI Stock Analysis