TCM Biotech International Corp. (4169) AI Stock Analysis

TCM Biotech International Corp.

(TWSE:4169)

Select Model

Rating:54Neutral

Price Target:TWD 117.00▼(-2.90% Downside)

Action:initiatedcoverage

Date:11/10/26

The score is supported by a strong, low-leverage balance sheet but constrained by declining revenue, weak profitability, deteriorating cash flow, negative earnings-based valuation, and bearish technical momentum.

Positive Factors

Very low leverageVery low leverage materially reduces financial risk and interest-related pressure, giving TCM Biotech greater flexibility to fund research, products, and operations. The improved debt profile also provides a stronger cushion if revenue remains under pressure over the next several quarters.

Negative Factors

Persistent revenue declineTwo consecutive years of declining sales indicate weakened commercial momentum rather than a single isolated fluctuation. Sustained contraction can reduce operating leverage, limit resources for research and product expansion, and make it harder for the company to build durable scale in healthcare markets.

TCM Biotech International Corp. (4169) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 7.81B
Dividend Yield: 0.27%
Average Volume (3M): 150.37K
Price to Earnings (P/E): -301.3
Beta (1Y): 0.19
Revenue Growth: ―
EPS Growth: ―
Country: TW
Employees: 73
Sector: General
Sector Strength: 55
Industry: Biotechnology

TCM Biotech International Corp. Business Overview & Revenue Model

Company Description

TCM Biotech International Corp., a biotech company, engages in the research and development of drugs for liver diseases. The company offers medical devices, such as therapy for osteoarthritis, intra-articular implant of hyaluronic acid, automated blo...

TCM Biotech International Corp. Financial Statement Overview

Summary

A strong balance sheet with low leverage and substantial equity is offset by declining revenue, thin margins, low return on equity, and sharply weaker free cash flow. The score reflects financial stability but limited operating momentum.

Income Statement

43Neutral

Balance Sheet

86Very Positive

Cash Flow

58Neutral

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	874.29M	685.49M	666.53M	969.62M	802.42M	702.05M
Gross Profit	361.38M	296.68M	327.31M	480.17M	448.49M	358.72M
EBITDA	-10.41M	42.18M	50.49M	46.70M	45.51M	22.28M
Net Income	-23.77M	19.17M	21.01M	18.57M	18.27M	1.87M
Balance Sheet
Total Assets	2.10B	1.20B	1.18B	1.32B	862.87M	820.06M
Cash, Cash Equivalents and Short-Term Investments	1.20B	545.07M	532.98M	504.13M	89.94M	58.26M
Total Debt	24.88M	42.92M	51.04M	123.47M	171.14M	165.89M
Total Liabilities	149.82M	148.86M	123.28M	267.88M	326.20M	301.84M
Stockholders Equity	1.95B	1.06B	1.06B	1.06B	536.67M	518.22M
Cash Flow
Free Cash Flow	-2.59M	36.50M	159.07M	-42.45M	46.95M	7.61M
Operating Cash Flow	3.79M	38.99M	167.42M	-37.54M	52.24M	15.33M
Investing Cash Flow	-242.35M	3.04M	-340.40M	-4.52M	-8.09M	-19.61M
Financing Cash Flow	890.64M	-29.90M	-98.19M	456.30M	-12.44M	28.24M

TCM Biotech International Corp. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:4169 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:4162	70Outperform	TWD 7.43B	14.16	―	3.79%	-58.69%	-66.96%
TW:6534	67Neutral	TWD 8.35B	15.17	―	6.17%	6.31%	31.07%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
TW:4169	54Neutral	TWD 7.93B	-301.25	―	0.27%	―	―
TW:4128	44Neutral	TWD 7.85B	14.95	―	―	4.85%	―
TW:6541	43Neutral	TWD 7.47B	-5.00	-26.61%	―	492.43%	21.57%

* General Sector Average

Performance Comparison

TW:4169 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:4169	TCM Biotech International Corp.	120.50	-60.77	-33.52%
TW:6541	Tanvex Biopharma	28.15	-27.55	-49.46%
TW:4128	Microbio Co., Ltd.	13.55	-7.25	-34.86%
TW:4162	PharmaEngine, Inc.	52.80	-16.88	-24.23%
TW:6534	CH Biotech R&D Co., Ltd.	86.00	-1.37	-1.57%
TW:7876	Obigen Pharma, Inc.	60.90	24.21	66.00%

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 10, 2026

TCM Biotech International Corp. AI Stock Analysis