Ledlink Optics, Inc. AI Stock Analysis
Ledlink Optics, Inc. (5230) AI Stock Analysis
Ledlink Optics, Inc.
(TPEx:5230)
The score is held back primarily by weak fundamentals: a 15% revenue decline, nearly six points of gross margin erosion and a swing to a NT$76 million net loss, compounded by a negative P/E that offers no valuation anchor. Partially offsetting these risks are solid cash conversion — operating cash flow of NT$217 million and a second consecutive year of positive free cash flow — a conservative balance sheet with debt-to-equity of 0.52, and a strong price trend with the stock trading above its 50-, 100- and 200-day moving averages, albeit with momentum now cooling to neutral levels. Investors should look for revenue stabilization and margin recovery before the earnings profile can be considered dependable.
Ledlink Optics, Inc. (5230) vs. SPDR S&P 500 ETF (SPY)
- Market Cap
- TWD 2.23B
- Dividend Yield
- 1.62%
- Average Volume (3M)
- 1.66M
- Price to Earnings (P/E)
- -86.0
- Beta (1Y)
- 0.47
- Revenue Growth
- -6.81%
- EPS Growth
- 55.44%
- Country
- TW
- Employees
- 540
- Sector
- General
- Sector Strength
- 55
- Industry
- Hardware, Equipment & Parts
Ledlink Optics, Inc. Business Overview & Revenue Model
Company Description
Ledlink Optics, Inc. is a global provider specializing in the design, manufacturing, and sale of optical components for lighting companies and other LED producers, operating from its base in New Taipei City, Taiwan, since its establishment in 2008. T...
Ledlink Optics, Inc. Financial Statement Overview
Summary
FY2025 was a clear setback: revenue fell roughly 15% to NT$1.32 billion, gross margin compressed to 23.4% from 29.2%, and the company swung to a NT$76.1 million net loss from a NT$32.7 million profit, with return on equity at -6.0%. Profitability has been thin and erratic for six years, suggesting a structurally low-margin, cyclical business. Offsetting this, the balance sheet is reasonably sound — equity funds about 54% of assets and debt-to-equity of 0.52 is well below 2023 levels — and cash generation remains a genuine strength, with operating cash flow rising to NT$216.8 million and free cash flow positive for a second year, indicating the loss is largely non-cash. Still, thin free cash flow and an eroding equity base keep the overall financial profile below average.
Income Statement
29NegativeBalance Sheet
56NeutralCash Flow
60Neutral| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.35B | 1.32B | 1.54B | 1.27B | 1.20B | 1.17B |
| Gross Profit | 349.18M | 307.98M | 451.23M | 386.80M | 384.17M | 423.51M |
| EBITDA | 142.88M | 135.98M | 278.10M | 229.34M | 218.66M | 313.31M |
| Net Income | -21.44M | -76.11M | 32.73M | 3.49M | -14.91M | 59.89M |
Balance Sheet | ||||||
| Total Assets | 2.34B | 2.35B | 2.44B | 2.42B | 2.22B | 2.14B |
| Cash, Cash Equivalents and Short-Term Investments | 366.13M | 378.78M | 352.27M | 245.59M | 237.90M | 323.41M |
| Total Debt | 617.00M | 660.48M | 573.42M | 871.70M | 691.66M | 648.83M |
| Total Liabilities | 1.04B | 1.07B | 998.55M | 1.26B | 1.07B | 963.72M |
| Stockholders Equity | 1.29B | 1.28B | 1.43B | 1.15B | 1.15B | 1.17B |
Cash Flow | ||||||
| Free Cash Flow | 57.49M | 66.20M | 52.33M | -25.11M | -107.10M | -153.89M |
| Operating Cash Flow | 212.11M | 216.85M | 200.06M | 124.26M | 197.36M | 65.87M |
| Investing Cash Flow | -102.07M | -152.76M | -110.11M | -184.72M | -311.37M | -228.90M |
| Financing Cash Flow | -33.34M | -46.79M | -52.72M | 93.98M | -28.10M | -62.48M |
Ledlink Optics, Inc. Peers Comparison
Overall Rating
- TW:523055Neutral
TW:306644Neutral
TW:352041Neutral
TW:351639Underperform
TW:452334Underperform
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| Sector * | 55Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
| TW:5230 | 55Neutral | TWD 1.74B | -86.02 | ― | 1.62% | -6.81% | 55.44% |
| TW:3066 | 44Neutral | TWD 1.64B | 3.30 | ― | ― | 28.37% | ― |
| TW:3520 | 41Neutral | TWD 1.39B | -127.93 | ― | 0.60% | 4.44% | -32.75% |
| TW:3516 | 39Underperform | TWD 1.38B | 47.64 | ― | 0.86% | 8.10% | 276.21% |
| TW:4523 | 34Underperform | TWD 1.49B | 0.84 | ― | 11.51% | 19.47% | ― |
* General Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| TW:5230 | Ledlink Optics, Inc. | 30.85 | 14.90 | 93.40% | |
| TW:3066 | Taiwan Oasis Technology Co., Ltd. | 19.80 | 5.80 | 41.43% | |
| TW:3516 | ADO Optronic Corp. | 23.20 | 3.50 | 17.75% | |
| TW:3520 | Jhen Vei Electronic Co., Ltd. | 16.55 | -2.25 | -11.97% | |
| TW:4523 | Everbrite Technology Co., Ltd. | 22.95 | -4.42 | -16.14% | |
| TW:6729 | Luminescence Technology Corp. | 51.50 | 12.76 | 32.93% |
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