Rossmax International Ltd. (4121) AI Stock Analysis

Rossmax International Ltd.

(TPEx:4121)

Select Model

Rating:41Neutral

Price Target:TWD 11.50▼(-6.12% Downside)

Action:initiatedcoverage

Date:11/10/26

The score is primarily constrained by sharply deteriorating profitability, negative earnings, and weakening operating performance. Bearish technical positioning and an unfavorable earnings-based valuation further reduce the score, while positive equity and cash flow provide limited support.

Positive Factors

Positive Cash GenerationPositive operating and free cash flow provide an internal funding base for ongoing operations and investment. This cushion can support working-capital needs and strategic execution over the next several quarters, although its durability depends on restoring stronger earnings and cash-flow momentum.

Negative Factors

Sharp Revenue ContractionThe steep 2025 revenue decline signals weakened demand or execution across the business and threatens operating leverage. A smaller revenue base makes it harder to absorb fixed costs, sustain distribution investment, and rebuild profitability during the next several quarters.

Rossmax International Ltd. (4121) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 1.01B
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

Weak overall financial performance. Profitability is poor, with negative EBIT and net income, sharply lower revenue, and declining gross margin. Positive equity and cash flow provide support, but rising leverage and weaker cash-flow coverage remain significant risks.

Income Statement

28Negative

Balance Sheet

55Neutral

Cash Flow

48Neutral

Financial statement breakdown
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

UnderperformOutperform

Sector (55)

Financial Indicators

TW:4121 against its peers
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	41Neutral	TWD 1.01B	-25.02	―	―	0.08%	-10.61%

* General Sector Average

Performance Comparison

TW:4121 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:4121	Rossmax International Ltd.	12.25	-3.05	-19.93%
TW:4194	Holy Stone Healthcare Co., Ltd.	6.30	-1.88	-22.98%
TW:4198	S&S Healthcare Holding Ltd.	48.00	10.00	26.32%
TW:4431	Mytrex Health Technologies, Inc.	21.40	3.90	22.29%
TW:6242	LI KANG BIOMEDICAL Co. Ltd.	33.50	-3.36	-9.12%
TW:6543	Perfect Medical Industry Co., Ltd.	16.55	-10.96	-39.85%

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

Rossmax International Ltd. AI Stock Analysis