Logah Technology Co., Ltd. (3593) AI Stock Analysis

Logah Technology Co., Ltd.

(TWSE:3593)

Select Model

Rating:39Underperform

Price Target:TWD 9.00▲(0.45% Upside)

Action:initiatedcoverage

Date:11/10/26

The overall score of 39 reflects a company in severe financial distress. The most significant factor is the persistent unprofitability and negative cash flows, which undermine the business's sustainability. The technical trend is firmly bearish, with the stock trading below all major moving averages. While the balance sheet has seen some deleveraging, it does not offset the fundamental inability to generate earnings or cash. The negative P/E ratio confirms the lack of value for equity holders.

Positive Factors

Lower LeverageThe meaningful reduction in debt-to-equity lessens balance-sheet pressure and improves financial flexibility compared with the prior year. Although leverage remains elevated, continued deleveraging could reduce refinancing strain and leave more capacity to support operations or future investment.

Negative Factors

Persistent LossesRecurring annual losses demonstrate that the business has not yet established sustainable profitability. Continued negative net income can erode equity, restrict internally funded investment, and make future performance dependent on a successful operating recovery rather than established earnings power.

Logah Technology Co., Ltd. (3593) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 589.40M
Dividend Yield: ―
Average Volume (3M): 16.17K
Price to Earnings (P/E): -5.5
Beta (1Y): 0.48
Revenue Growth: -38.34%
EPS Growth: 49.74%
Country: TW
Employees: 581
Sector: General
Sector Strength: 55
Industry: Hardware, Equipment & Parts

Logah Technology Co., Ltd. Business Overview & Revenue Model

Company Description

Founded in 2003 and headquartered in Kaohsiung, Taiwan, Logah Technology Corp. specializes in a comprehensive range of manufacturing processes. The company's expertise includes automatic pinning, various molding techniques (such as cold and hot gloss...

Logah Technology Co., Ltd. Financial Statement Overview

Summary

Financial performance is critically weak. The income statement shows declining revenue and a collapsed gross margin of 1.0%, leading to five consecutive years of net losses. The cash flow statement confirms a fundamental inability to generate cash, with negative operating and free cash flow. The balance sheet shows some debt reduction, but equity is eroded and return on equity is deeply negative at -26.7%. The overall financial health is poor.

Income Statement

18Very Negative

Balance Sheet

35Negative

Cash Flow

22Negative

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	786.20M	1.10B	877.44M	879.73M	923.89M	1.21B
Gross Profit	-26.55M	11.26M	-51.16M	74.55M	44.94M	101.91M
EBITDA	11.10M	35.12M	-62.38M	55.87M	36.53M	83.40M
Net Income	-95.66M	-77.88M	-203.53M	-69.78M	-92.70M	-39.24M
Balance Sheet
Total Assets	1.14B	1.33B	1.47B	1.43B	1.42B	1.46B
Cash, Cash Equivalents and Short-Term Investments	91.13M	353.12M	69.47M	119.43M	126.71M	97.53M
Total Debt	364.88M	400.11M	666.60M	659.43M	345.50M	236.87M
Total Liabilities	929.82M	1.04B	1.18B	960.07M	884.27M	848.62M
Stockholders Equity	207.95M	291.45M	288.78M	465.44M	534.80M	614.73M
Cash Flow
Free Cash Flow	-242.81M	-41.45M	-137.49M	-61.41M	-155.55M	64.82M
Operating Cash Flow	-137.92M	-2.28M	-45.55M	-3.16M	-119.86M	98.78M
Investing Cash Flow	-130.31M	-27.39M	-56.84M	-93.10M	-72.92M	-33.12M
Financing Cash Flow	256.19M	306.70M	64.48M	88.54M	241.40M	-56.45M

Logah Technology Co., Ltd. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:3593 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:3492	67Neutral	TWD 682.21M	14.77	―	5.73%	-3.52%	-26.09%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
TW:3623	45Neutral	TWD 620.20M	22.48	―	―	-0.21%	―
TW:3593	39Underperform	TWD 605.21M	-5.53	―	―	-38.34%	49.74%
TW:5245	24Underperform	TWD 754.36M	-4.11	―	―	-3.38%	14.78%

* General Sector Average

Performance Comparison

TW:3593 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:3593	Logah Technology Co., Ltd.	8.96	-3.21	-26.35%
TW:2255	Jet Optoelectronics Co., Ltd.	12.75	-13.90	-52.16%
TW:3492	Advanced Connection Technology Inc.	19.20	-4.19	-17.92%
TW:3623	Transtouch Technology Inc.	21.10	0.65	3.18%
TW:5245	Wisechip Semiconductor Inc.	17.05	-4.75	-21.79%
TW:6665	Healthconn Corp.	15.60	-5.25	-25.18%

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

Logah Technology Co., Ltd. AI Stock Analysis