Chlitina Holding Ltd. (4137) AI Stock Analysis

Chlitina Holding Ltd.

(TWSE:4137)

Select Model

Rating:60Neutral

Price Target:TWD 79.00▲(2.46% Upside)

Action:initiatedcoverage

Date:11/10/26

The overall score of 60 reflects a company with strong brand economics and a very attractive valuation, offset by significant operational and market headwinds. The primary positive is the compelling valuation with a low P/E and a 13.2% dividend yield. However, this is counterbalanced by major risks: poor cash flow conversion and a bearish technical trend with the stock in a clear downtrend across all major moving averages. The inconsistent revenue growth and volatile cash flows are the most significant factors weighing on the score.

Positive Factors

High ProfitabilityExceptionally high gross margins and still-solid operating profitability indicate a strong underlying economics model for the company’s branded skincare and cosmetics offerings. This margin structure can support reinvestment, marketing, and shareholder returns while providing some resilience if demand or product mix fluctuates.

Negative Factors

Profitability Has ModeratedThe decline from the 2021–2023 earnings peak shows that Chlitina’s historically strong profitability has not been fully sustained. Lower margins and returns can reduce internal funding for brand development and make future earnings more dependent on restoring demand, pricing, or product mix.

Chlitina Holding Ltd. (4137) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 6.40B
Dividend Yield: 12.80%
Average Volume (3M): 202.90K
Price to Earnings (P/E): 10.3
Beta (1Y): 0.32
Revenue Growth: 7.53%
EPS Growth: 25.66%
Country: TW
Employees: 123,543
Sector: General
Sector Strength: 55
Industry: Household & Personal Products

Chlitina Holding Ltd. Business Overview & Revenue Model

Company Description

Chlitina Holding Limited, an investment holding company, engages in the research, development, manufacture, and sale of beauty and skin care products in Taiwan and internationally. The company offers skin care products for basic maintenance, serum, a...

Chlitina Holding Ltd. Financial Statement Overview

Summary

Chlitina's financials are mixed. Exceptional gross margins above 82% signal strong brand power, but revenue trends are inconsistent with a 10.3% decline in 2024. The balance sheet is generally solid with manageable leverage, though ROE has declined. The primary weakness is volatile and weak cash flow conversion, with a TTM operating cash flow to net income ratio of just 0.24, indicating poor earnings quality.

Income Statement

62Positive

Balance Sheet

68Positive

Cash Flow

55Neutral

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	4.03B	3.88B	4.07B	4.53B	4.07B	5.27B
Gross Profit	3.22B	3.18B	3.37B	3.79B	3.36B	4.38B
EBITDA	923.57M	1.03B	1.18B	1.93B	1.57B	2.10B
Net Income	556.86M	588.00M	472.68M	1.03B	689.86M	1.36B
Balance Sheet
Total Assets	10.01B	9.52B	8.89B	8.91B	8.60B	10.04B
Cash, Cash Equivalents and Short-Term Investments	6.23B	5.90B	5.50B	5.79B	5.64B	7.02B
Total Debt	2.97B	2.97B	2.05B	2.34B	2.59B	3.01B
Total Liabilities	5.07B	4.25B	3.35B	3.76B	3.94B	5.04B
Stockholders Equity	4.94B	5.28B	5.54B	5.15B	4.65B	4.99B
Cash Flow
Free Cash Flow	725.29M	618.35M	84.61M	979.42M	154.08M	1.70B
Operating Cash Flow	815.21M	838.80M	574.54M	1.23B	277.55M	1.80B
Investing Cash Flow	-840.86M	-221.49M	-1.28B	-1.37B	962.71M	-578.42M
Financing Cash Flow	-110.39M	-164.00M	-796.41M	-750.68M	-1.60B	-440.23M

Chlitina Holding Ltd. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:4137 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:1737	67Neutral	TWD 5.98B	15.74	―	4.71%	-2.24%	12.99%
TW:1734	64Neutral	TWD 6.07B	17.33	―	3.13%	2.44%	-3.96%
TW:4137	60Neutral	TWD 6.48B	10.33	―	12.80%	7.53%	25.66%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
TW:1799	45Neutral	TWD 6.24B	-264.14	―	―	59.53%	83.16%

* General Sector Average

Performance Comparison

TW:4137 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:4137	Chlitina Holding Ltd.	77.10	-13.76	-15.14%
TW:1734	Sinphar Pharmaceutical Co. Ltd.	30.00	1.75	6.18%
TW:1737	Taiyen Biotech Co. Ltd.	29.65	-0.68	-2.25%
TW:1799	Easywell Biomedicals, Inc.	25.00	-7.20	-22.36%
TW:7876	Obigen Pharma, Inc.	61.60	24.91	67.91%
TW:7878	Pharmasaga Co., Ltd.	131.00	-144.62	-52.47%

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

Chlitina Holding Ltd. AI Stock Analysis