Innodisk Corp. AI Stock Analysis
Innodisk Corp. (5289) AI Stock Analysis
Innodisk Corp.
(TPEx:5289)
Innodisk scores in the middle of the range. The dominant issue is the disconnect between record reported profits and cash generation: despite ~22% revenue growth, an 84% jump in net income and 22.8% ROE, operating and free cash flow both turned sharply negative as working capital ballooned, funded by a four-fold rise in debt. The balance sheet still carries ample equity backing and leverage remains modest in absolute terms, which limits near-term financial risk. Technicals are the second drag, with the price well below all major moving averages and a deeply negative MACD, although extremely low RSI and Stochastic readings indicate an oversold market. Offsetting these concerns is a very cheap 5.2x P/E plus a 1.81% dividend yield, which offers a meaningful valuation cushion if inventory converts to cash and the memory cycle holds up.
Innodisk Corp. (5289) vs. SPDR S&P 500 ETF (SPY)
- Market Cap
- TWD 96.32B
- Dividend Yield
- 1.72%
- Average Volume (3M)
- 1.65M
- Price to Earnings (P/E)
- 5.3
- Beta (1Y)
- 1.31
- Revenue Growth
- 467.69%
- EPS Growth
- 1646.54%
- Country
- TW
- Employees
- 273
- Sector
- General
- Sector Strength
- 55
- Industry
- Computer Hardware
Innodisk Corp. Business Overview & Revenue Model
Company Description
Innodisk Corporation, a company based in Taiwan, focuses on the creation, production, and sale of industrial-grade embedded storage solutions. Its comprehensive product line features a variety of flash-based storage devices, including numerous solid-...
Innodisk Corp. Financial Statement Overview
Summary
Earnings quality is the swing factor. The income statement is strong (score 82): 2025 revenue rose ~22% to NT$14.3bn, net income nearly doubled to NT$2.04bn, net margin improved to 14.3% and ROE to 22.8%, though gross margin slipped to 31.1%, showing gains came from volume and operating leverage rather than pricing. The balance sheet is solid but weakening at the margin (score 74): equity of NT$8.94bn still funds ~61% of assets, yet total debt jumped to NT$2.29bn from NT$579m, lifting debt-to-equity to 0.26 from 0.08 as assets grew ~49%. Cash flow is the clear weak spot (score 26): operating cash flow swung to negative NT$2.27bn and free cash flow to negative NT$2.50bn on a large inventory and receivables build, meaning none of this year's record profit converted to cash and new borrowing was needed to bridge the gap.
Income Statement
82Very PositiveBalance Sheet
74PositiveCash Flow
26Negative| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 44.24B | 14.26B | 8.92B | 8.31B | 10.30B | 10.20B |
| Gross Profit | 25.22B | 4.43B | 2.83B | 2.85B | 3.46B | 3.09B |
| EBITDA | 22.06B | 2.69B | 1.55B | 1.61B | 2.43B | 2.10B |
| Net Income | 17.40B | 2.04B | 1.11B | 1.15B | 1.85B | 1.56B |
Balance Sheet | ||||||
| Total Assets | 46.10B | 14.55B | 9.76B | 9.36B | 9.31B | 8.23B |
| Cash, Cash Equivalents and Short-Term Investments | 9.50B | 1.80B | 3.16B | 3.56B | 4.00B | 2.74B |
| Total Debt | 5.48B | 2.29B | 578.54M | 587.98M | 531.49M | 351.23M |
| Total Liabilities | 22.58B | 5.43B | 2.08B | 2.22B | 2.19B | 2.20B |
| Stockholders Equity | 23.29B | 8.94B | 7.49B | 7.04B | 7.01B | 5.96B |
Cash Flow | ||||||
| Free Cash Flow | -963.02M | -2.50B | 500.06M | 751.30M | 2.01B | 441.33M |
| Operating Cash Flow | -680.00M | -2.27B | 854.48M | 1.46B | 2.52B | 826.83M |
| Investing Cash Flow | 275.35M | -114.35M | -736.64M | -734.76M | 38.00M | -614.63M |
| Financing Cash Flow | 7.77B | 1.03B | -668.01M | -1.17B | -701.36M | -335.04M |
Innodisk Corp. Peers Comparison
Overall Rating
TW:245182Outperform
TW:326067Neutral
TW:641461Neutral- TW:528961Neutral
TW:370660Neutral
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| TW:2451 | 82Outperform | TWD 100.50B | 4.03 | ― | 5.06% | 331.33% | 997.91% |
| TW:3260 | 67Neutral | TWD 108.32B | 3.69 | ― | 11.50% | 125.32% | 984.80% |
| TW:6414 | 61Neutral | TWD 52.49B | 12.92 | ― | 4.13% | 8.27% | 19.95% |
| TW:5289 | 61Neutral | TWD 96.13B | 5.29 | ― | 1.72% | 467.69% | 1646.54% |
| TW:3706 | 60Neutral | TWD 102.99B | 12.88 | ― | 4.22% | 50.91% | 23.24% |
| Sector * | 55Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| TW:5289 | Innodisk Corp. | 978.00 | 437.04 | 80.79% | |
| TW:2451 | Transcend Information, Inc. | 233.00 | 25.66 | 12.37% | |
| TW:3260 | ADATA Technology Co., Ltd. | 304.50 | 103.25 | 51.30% | |
| TW:3706 | MiTAC Holdings Corp. | 71.10 | -13.92 | -16.37% | |
| TW:6414 | Ennoconn Corp. | 334.00 | 67.97 | 25.55% | |
| TW:7711 | ASrock Rack, Inc. | 528.00 | 155.62 | 41.79% |
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