Rossmax International Ltd. AI Stock Analysis
Rossmax International Ltd. (4121) AI Stock Analysis
Rossmax International Ltd.
(TPEx:4121)
Rossmax scores poorly overall, driven primarily by weak fundamentals: three consecutive annual losses, stagnant revenue, and a sharp nine-point drop in gross margin in 2025, compounded by rising leverage (D/E ~0.95x) against a shrinking equity base. The key offset is cash: the business still generated TWD 284M in operating cash flow and TWD 237M in free cash flow, meaning losses are largely non-cash and liquidity remains manageable — though the cash engine is weakening year over year. Technicals reinforce the caution, with the price below all major moving averages and negative MACD, while deeply oversold RSI and Stochastic readings suggest scope for only a short-term bounce. Valuation offers no cushion given negative earnings and no dividend. A re-rating depends on management restoring gross margin and returning to operating profitability.
Rossmax International Ltd. (4121) vs. SPDR S&P 500 ETF (SPY)
- Market Cap
- TWD 1.02B
- Dividend Yield
- ―
- Average Volume (3M)
- 46.43K
- Price to Earnings (P/E)
- -25.0
- Beta (1Y)
- 0.54
- Revenue Growth
- 0.08%
- EPS Growth
- -10.61%
- Country
- TW
- Employees
- 350
- Sector
- General
- Sector Strength
- 55
- Industry
- Medical - Distribution
Rossmax International Ltd. Business Overview & Revenue Model
Company Description
Rossmax International Ltd. is dedicated to creating and delivering a wide array of healthcare products and solutions. Their diverse product lineup includes advanced diagnostic and monitoring devices such as body composition scales, which provide read...
Rossmax International Ltd. Financial Statement Overview
Summary
Blends a weak income statement (31), an adequate but deteriorating balance sheet (46) and resilient cash flow (63). Revenue has been flat near TWD 3.8B for three years while gross margin collapsed from ~34.7% to ~25.5% in 2025, producing a second straight operating loss (TWD -72.7M) and a third consecutive net loss (TWD -29.9M). Equity has eroded to TWD 1.41B while debt rose to TWD 1.34B (D/E ~0.95x, ~5x EBITDA), and ROE is negative at -2.1%. The offset is genuine cash generation: TWD 284M operating cash flow and TWD 237M free cash flow confirm the losses are largely depreciation-driven, though cash flow has steadily declined from TWD 575M in 2021.
Income Statement
31NegativeBalance Sheet
46NeutralCash Flow
63Positive| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 3.78B | 3.80B | 3.85B | 3.81B | 4.34B | 3.95B |
| Gross Profit | 1.20B | 968.71M | 1.33B | 1.27B | 1.51B | 1.30B |
| EBITDA | 165.90M | 269.74M | 307.86M | 347.12M | 581.56M | 425.88M |
| Net Income | -54.57M | -29.90M | -29.35M | -6.67M | 170.27M | 111.37M |
Balance Sheet | ||||||
| Total Assets | 4.00B | 4.21B | 4.23B | 4.09B | 3.99B | 3.76B |
| Cash, Cash Equivalents and Short-Term Investments | 701.04M | 839.39M | 774.70M | 691.27M | 816.49M | 916.66M |
| Total Debt | 1.27B | 1.34B | 1.29B | 1.39B | 1.12B | 1.08B |
| Total Liabilities | 2.09B | 2.22B | 2.14B | 2.24B | 2.05B | 1.98B |
| Stockholders Equity | 1.38B | 1.41B | 1.48B | 1.44B | 1.55B | 1.45B |
Cash Flow | ||||||
| Free Cash Flow | 181.08M | 236.74M | 238.54M | 195.01M | 299.54M | 225.60M |
| Operating Cash Flow | 231.55M | 284.20M | 314.10M | 302.35M | 434.21M | 575.43M |
| Investing Cash Flow | -97.98M | -45.71M | -74.69M | -107.80M | -137.20M | -347.69M |
| Financing Cash Flow | -207.83M | -217.55M | -131.49M | -216.34M | -396.22M | -150.60M |
Rossmax International Ltd. Peers Comparison
Overall Rating
TW:624261Neutral
TW:419842Neutral- TW:412142Neutral
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| TW:6242 | 61Neutral | TWD 1.07B | 13.90 | ― | 5.97% | -0.93% | -10.65% |
| Sector * | 55Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
| TW:4198 | 42Neutral | TWD 1.10B | -28.07 | ― | ― | ― | ― |
| TW:4121 | 42Neutral | TWD 1.01B | -25.02 | ― | ― | 0.08% | -10.61% |
* General Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| TW:4121 | Rossmax International Ltd. | 12.25 | -3.15 | -20.45% | |
| TW:4194 | Holy Stone Healthcare Co., Ltd. | 6.30 | -2.03 | -24.37% | |
| TW:4198 | S&S Healthcare Holding Ltd. | 48.00 | 10.35 | 27.49% | |
| TW:4431 | Mytrex Health Technologies, Inc. | 21.40 | 4.45 | 26.25% | |
| TW:6242 | LI KANG BIOMEDICAL Co. Ltd. | 33.50 | -3.41 | -9.23% | |
| TW:6543 | Perfect Medical Industry Co., Ltd. | 16.55 | -11.20 | -40.36% |
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