Inalways Corporation AI Stock Analysis
Inalways Corporation (5398) AI Stock Analysis
Inalways Corporation
(TPEx:5398)
The overall score reflects a financially safe but operationally underpowered company. The near debt-free balance sheet and 2025's margin-led profit and free cash flow recovery are genuine strengths, but revenue has shrunk about 37% since 2020, return on equity is just 3.3%, and cash generation has flipped between inflows and outflows year to year. An elevated P/E near 172 with no dividend leaves the shares priced well ahead of current fundamentals. Technicals are mixed: short-term momentum has improved above the 50- and 100-day averages, yet the stock remains below its 200-day average, keeping the longer-term trend negative. Earnings call and corporate event components were excluded for lack of data, with their weight redistributed to the remaining factors.
Inalways Corporation (5398) vs. SPDR S&P 500 ETF (SPY)
- Market Cap
- TWD 848.33M
- Dividend Yield
- ―
- Average Volume (3M)
- 123.65K
- Price to Earnings (P/E)
- 76.7
- Beta (1Y)
- 0.11
- Revenue Growth
- -16.59%
- EPS Growth
- -8.81%
- Country
- TW
- Employees
- 110
- Sector
- General
- Sector Strength
- 55
- Industry
- Medical - Pharmaceuticals
Inalways Corporation Business Overview & Revenue Model
Company Description
Mediera Corporation, a Taiwanese enterprise, operates across two primary sectors: the production of electronic and power supply components, and medical biotechnology. Within its medical biotechnology division, the company provides a range of products...
Inalways Corporation Financial Statement Overview
Summary
Inalways pairs a fortress balance sheet (score 79) with weaker earnings (56) and inconsistent cash flow (47). Debt was cut to NT$12.6 million for a debt-to-equity of 0.02, and equity funds roughly 88% of assets, leaving minimal solvency risk. Profitability improved markedly in 2025, with gross margin at 37.1%, operating margin at 10.6% and net income of NT$17.4 million, the best in six years, while free cash flow turned positive at NT$20.2 million. Offsetting this, revenue has contracted about 37% since 2020 and fell another 4.3% in the latest year, return on equity is only 3.3%, and operating cash flow has been negative in three of the last six years, signalling limited earnings visibility and underused capital.
Income Statement
56NeutralBalance Sheet
79PositiveCash Flow
47Neutral| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 195.89M | 229.85M | 238.48M | 192.90M | 257.55M | 351.56M |
| Gross Profit | 57.93M | 85.25M | 84.48M | 33.46M | 65.76M | 117.56M |
| EBITDA | 1.79M | 36.74M | 26.32M | -23.43M | 3.88M | 30.26M |
| Net Income | 4.87M | 17.36M | 10.44M | -31.81M | -6.79M | 16.21M |
Balance Sheet | ||||||
| Total Assets | 570.74M | 600.79M | 651.72M | 556.64M | 608.73M | 647.84M |
| Cash, Cash Equivalents and Short-Term Investments | 181.80M | 111.61M | 120.36M | 130.59M | 104.73M | 132.01M |
| Total Debt | 8.72M | 12.60M | 30.30M | 11.61M | 21.05M | 21.80M |
| Total Liabilities | 52.06M | 70.17M | 103.87M | 52.04M | 69.21M | 84.88M |
| Stockholders Equity | 518.67M | 530.62M | 547.85M | 504.59M | 539.52M | 562.96M |
Cash Flow | ||||||
| Free Cash Flow | 51.69M | 20.21M | -24.73M | 28.51M | -39.05M | 100.59M |
| Operating Cash Flow | 51.99M | 21.95M | -23.58M | 30.62M | -22.40M | 103.15M |
| Investing Cash Flow | 1.83M | -3.50M | -1.95M | 5.45M | 5.05M | -116.05M |
| Financing Cash Flow | -11.61M | -17.69M | -23.89M | -10.17M | -8.64M | -8.51M |
Inalways Corporation Peers Comparison
Overall Rating
TW:629460Neutral
TW:817659Neutral- TW:539855Neutral
TW:231442.95Neutral
TW:349942Neutral
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| TW:6294 | 60Neutral | TWD 696.76M | 10.06 | ― | 11.28% | -12.40% | -35.00% |
| TW:8176 | 59Neutral | TWD 580.85M | 35.14 | ― | ― | -46.30% | -54.49% |
| Sector * | 55Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
| TW:5398 | 55Neutral | TWD 842.46M | 76.71 | ― | ― | -16.59% | -8.81% |
| TW:2314 | 43Neutral | TWD 803.61M | -1.02 | ― | ― | 22.52% | 47.71% |
| TW:3499 | 42Neutral | TWD 632.16M | -8.66 | ― | ― | -25.84% | -68.45% |
* General Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| TW:5398 | Inalways Corporation | 17.90 | -5.40 | -23.18% | |
| TW:2314 | Microelectronics Technology Inc. | 6.66 | -18.84 | -73.88% | |
| TW:3499 | Globalsat Worldcom Corp. | 11.35 | -3.05 | -21.18% | |
| TW:6294 | Tekom Technologies, Inc. | 26.60 | -17.03 | -39.04% | |
| TW:6818 | Advanced Wireless & Antenna Inc. | 33.50 | -5.75 | -14.65% | |
| TW:8176 | Z-Com, Inc. | 11.30 | -1.59 | -12.33% |
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