S&S Healthcare Holding Ltd. AI Stock Analysis
S&S Healthcare Holding Ltd. (4198) AI Stock Analysis
S&S Healthcare Holding Ltd.
(TPEx:4198)
S&S Healthcare scores in the lower band primarily because of weak financial performance: revenue has declined for two straight years, the company remains loss-making at both the operating and net level, and it has never produced positive operating cash flow, steadily eroding shareholders' equity. Offsetting this are meaningful improvements — a near debt-free balance sheet (0.13x debt-to-equity), gross margin recovery to roughly 29%, and a cash burn cut by about half — which provide runway for a turnaround. Technically, the shares hold above their 100- and 200-day averages but have lost short-term momentum, with a negative MACD and subdued RSI. Valuation offers little support given negative earnings and no dividend. A return to revenue growth and a move toward cash breakeven would be the key catalysts for a higher score.
S&S Healthcare Holding Ltd. (4198) vs. SPDR S&P 500 ETF (SPY)
- Market Cap
- TWD 1.16B
- Dividend Yield
- ―
- Average Volume (3M)
- 7,926
- Price to Earnings (P/E)
- -28.1
- Beta (1Y)
- 0.30
- Revenue Growth
- ―
- EPS Growth
- ―
- Country
- TW
- Employees
- 200
- Sector
- General
- Sector Strength
- 55
- Industry
- Medical - Devices
S&S Healthcare Holding Ltd. Business Overview & Revenue Model
Company Description
S&S Healthcare Holding Ltd. is dedicated to the research, manufacturing, and global commercialization of medical imaging equipment. The company's operations extend across international markets, including significant presences in Taiwan, the United St...
S&S Healthcare Holding Ltd. Financial Statement Overview
Summary
A partially completed turnaround. The balance sheet is the clear strength: debt-to-equity has collapsed from 2.3x in 2021 to just 0.13x in 2025, with equity funding about 60% of assets, giving the company breathing room. Gross margin has swung from deeply negative to roughly 29-31%, and the cash burn has halved from NT$52M to NT$27M of operating outflow. However, revenue has fallen two consecutive years to NT$204M, the company posted a NT$47M net loss (-23% net margin), ROE is around -21%, and it has never generated positive operating or free cash flow. Persistent losses are steadily eroding equity, keeping the overall financial profile weak despite genuine progress.
Income Statement
29NegativeBalance Sheet
61PositiveCash Flow
33Negative| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 171.88M | 204.21M | 240.25M | 275.11M | 254.44M | 122.35M |
| Gross Profit | 53.22M | 58.85M | 75.01M | 35.66M | 38.39M | -7.93M |
| EBITDA | -28.59M | -27.02M | -17.60M | 133.81M | -33.61M | -71.64M |
| Net Income | -40.47M | -47.30M | -41.28M | 103.61M | -66.89M | -95.39M |
Balance Sheet | ||||||
| Total Assets | 353.99M | 377.06M | 433.83M | 613.34M | 531.06M | 294.12M |
| Cash, Cash Equivalents and Short-Term Investments | 73.47M | 122.39M | 150.02M | 198.99M | 112.32M | 121.88M |
| Total Debt | 25.38M | 28.44M | 53.32M | 88.08M | 183.91M | 124.06M |
| Total Liabilities | 101.62M | 100.37M | 116.24M | 209.24M | 315.64M | 199.92M |
| Stockholders Equity | 204.00M | 226.50M | 260.85M | 300.74M | 135.25M | 54.99M |
Cash Flow | ||||||
| Free Cash Flow | -39.80M | -29.12M | -71.10M | -99.25M | -142.07M | -80.36M |
| Operating Cash Flow | -34.83M | -26.66M | -52.04M | -68.10M | -72.91M | -70.52M |
| Investing Cash Flow | 15.62M | 12.33M | 7.22M | 181.95M | -82.25M | -9.25M |
| Financing Cash Flow | -14.14M | -33.66M | -4.56M | -29.59M | 149.97M | 112.47M |
S&S Healthcare Holding Ltd. Peers Comparison
Overall Rating
TW:624261Neutral
TW:410945Neutral
TW:412142Neutral- TW:419842Neutral
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:4109 | 45Neutral | TWD 1.21B | 256.25 | ― | 1.95% | 13.00% | 902.22% |
| TW:4121 | 42Neutral | TWD 1.01B | -25.02 | ― | ― | 0.08% | -10.61% |
| TW:4198 | 42Neutral | TWD 1.10B | -28.07 | ― | ― | ― | ― |
* General Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| TW:4198 | S&S Healthcare Holding Ltd. | 48.00 | 10.35 | 27.49% | |
| TW:4109 | Jia Jie Biomedical Co., Ltd. | 10.25 | -5.46 | -34.76% | |
| TW:4121 | Rossmax International Ltd. | 12.25 | -3.15 | -20.45% | |
| TW:6242 | LI KANG BIOMEDICAL Co. Ltd. | 33.50 | -3.41 | -9.23% | |
| TW:6518 | Concord Medical Co Ltd | 29.85 | 4.98 | 20.00% | |
| 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