Trust-Search Corp.,Ltd. (3115) AI Stock Analysis

Trust-Search Corp.,Ltd.

(TPEx:3115)

Select Model

Rating:46Neutral

Price Target:TWD 7.00▼(-6.54% Downside)

Action:initiatedcoverage

Date:11/09/26

Weak valuation and bearish technicals are the primary drags, while mixed financial performance offers limited support from balance sheet strength offset by revenue declines.

Positive Factors

Very Low LeverageMinimal debt reduces the company’s exposure to interest costs, refinancing pressure, and balance-sheet stress. This gives management more financial flexibility while the business undergoes contraction, although the benefit depends on preventing continued losses from eroding the equity base.

Negative Factors

Persistent UnprofitabilityLosses continuing across six years indicate a structural profitability problem rather than a single weak quarter. Without a sustained improvement in operating economics, the company may continue consuming resources, weakening equity, and limiting its ability to fund durable growth.

Trust-Search Corp.,Ltd. (3115) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 380.03M
Dividend Yield: ―
Average Volume (3M): 11.92K
Price to Earnings (P/E): -47.1
Beta (1Y): 0.08
Revenue Growth: 48.94%
EPS Growth: 76.27%
Country: TW
Employees: 31
Sector: General
Sector Strength: 55
Industry: Hardware, Equipment & Parts

Trust-Search Corp.,Ltd. Business Overview & Revenue Model

Company Description

Trust-Search Corp.,Ltd. provides automated optical laser inspection services for printed circuit boards and related support. The company also produces and offers specialized phosphor bronze and copper spherical products. Its extensive catalog of elec...

Trust-Search Corp.,Ltd. Financial Statement Overview

Summary

Robust balance sheet with minimal debt and strong equity supports stability, but severe revenue collapse and sustained net losses hinder performance despite recent positive cash flows.

Income Statement

22Negative

Balance Sheet

88Very Positive

Cash Flow

52Neutral

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Mar 2023	Dec 2021
Income Statement
Total Revenue	7.06M	4.38M	3.90M	1.62M	57.44M	421.25M
Gross Profit	7.06M	4.38M	3.63M	513.00K	431.00K	6.14M
EBITDA	-17.15M	-21.98M	-18.56M	-25.54M	-9.03M	-6.93M
Net Income	-11.48M	-22.55M	-23.38M	-29.86M	-14.76M	-14.35M
Balance Sheet
Total Assets	603.49M	572.12M	216.24M	212.97M	253.39M	281.32M
Cash, Cash Equivalents and Short-Term Investments	545.30M	567.39M	166.73M	208.00M	234.13M	217.15M
Total Debt	11.37M	697.00K	4.80M	391.00K	2.70M	0
Total Liabilities	62.65M	28.89M	33.80M	10.15M	19.23M	33.66M
Stockholders Equity	540.84M	543.23M	182.44M	202.83M	234.17M	247.65M
Cash Flow
Free Cash Flow	-18.09M	17.92M	-48.55M	-26.62M	14.03M	38.49M
Operating Cash Flow	-17.84M	17.99M	-48.26M	-26.62M	14.03M	38.79M
Investing Cash Flow	-124.74M	-9.82M	-739.00K	0	-174.00K	5.04M
Financing Cash Flow	138.34M	378.89M	-3.74M	-2.31M	-2.45M	-1.93M

Trust-Search Corp.,Ltd. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:3115 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:6910	72Outperform	TWD 705.04M	15.77	―	7.58%	―	―
TW:6865	66Neutral	TWD 494.23M	-34.83	―	4.50%	-37.97%	-138.87%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
TW:3115	46Neutral	TWD 537.87M	-47.07	―	―	48.94%	76.27%

* General Sector Average

Performance Comparison

TW:3115 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:3115	Trust-Search Corp.,Ltd.	7.49	-3.41	-31.28%
TW:6865	WebComm Technology Co., Ltd.	31.20	-14.95	-32.39%
TW:6868	Iscom Online International Information Inc.	23.45	-4.55	-16.25%
TW:6910	Grandsys Inc	23.10	-17.48	-43.07%
TW:7841	CyberSoft Digital Services Corporation	24.50	-11.71	-32.35%
TW:7933	Weblisher Data Tech Co.,Ltd.	26.20	-6.15	-19.01%

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

Trust-Search Corp.,Ltd. AI Stock Analysis