Innodisk Corp. (5289) AI Stock Analysis

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Innodisk Corp.

(TPEx:5289)

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Rating:64.5Neutral

Price Target:TWD 995.00▲(0.30% Upside)

Action:initiatedcoverage

Date:11/10/26

Strong profitability, attractive valuation, and a sound balance sheet support the score, but sharply negative cash flow is the most significant financial risk. Weak technical momentum further limits the outlook, despite oversold indicators.

Positive Factors

Revenue RecoveryThe strong 2025 revenue rebound indicates that demand recovered after the prior contraction, supporting renewed scale across Innodisk’s industrial storage and memory businesses. Sustained demand improvement would strengthen operating leverage, fund product development, and reinforce its position in embedded and edge applications.

Negative Factors

Negative Cash GenerationThe shift to negative operating and free cash flow is a material constraint on financial quality, even though earlier periods generated positive cash. Persistent weakness would reduce internally funded investment capacity, increase reliance on financing, and make reported earnings less useful as a measure of near-term cash generation.

Innodisk Corp. (5289) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 96.42B
Dividend Yield: 1.70%
Average Volume (3M): 1.65M
Price to Earnings (P/E): 3.8
Beta (1Y): 1.33
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

Revenue and net income growth, solid margins, and a strong balance sheet are offset by sharply negative operating and free cash flow and increased debt. The score reflects the equal-weighted Income Statement, Balance Sheet, and Cash Flow scores.

Income Statement

85Very Positive

Balance Sheet

82Very Positive

Cash Flow

25Negative

Financial statement breakdown
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

UnderperformOutperform

Sector (55)

Financial Indicators

TW:5289 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:2451	82Outperform	TWD 100.50B	4.07	―	5.01%	331.33%	997.91%
TW:3260	67Neutral	TWD 108.32B	3.81	―	11.52%	125.32%	984.80%
TW:5289	65Neutral	TWD 96.13B	3.76	―	1.70%	467.69%	1646.54%
TW:6414	61Neutral	TWD 52.49B	13.45	―	4.22%	8.27%	19.95%
TW:3706	60Neutral	TWD 102.99B	13.07	―	4.32%	50.91%	23.24%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%

* General Sector Average

Performance Comparison

TW:5289 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:5289	Innodisk Corp.	992.00	485.94	96.02%
TW:2451	Transcend Information, Inc.	235.00	46.85	24.90%
TW:3260	ADATA Technology Co., Ltd.	304.00	109.14	56.01%
TW:3706	MiTAC Holdings Corp.	69.40	-12.28	-15.03%
TW:6414	Ennoconn Corp.	326.50	54.69	20.12%
TW:7711	ASrock Rack, Inc.	559.00	179.33	47.23%

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

Innodisk Corp. AI Stock Analysis