Inalways Corporation (5398) AI Stock Analysis

Inalways Corporation

(TPEx:5398)

Select Model

Rating:60Neutral

Price Target:TWD 16.50▼(-7.82% Downside)

Action:initiatedcoverage

Date:11/09/26

Strong balance sheet and financial recovery are the primary supports, while elevated valuation and mixed technical indicators limit the overall score.

Positive Factors

Very low leverageConservative financing gives the company a substantial buffer against operating volatility and preserves flexibility to fund operations or pursue growth without heavy reliance on borrowing. Low leverage also limits interest burden and refinancing exposure over the next several quarters.

Negative Factors

Inconsistent revenue trajectoryA choppy and reduced revenue base makes it harder to establish durable operating scale and predict future earnings. Continued top-line weakness could limit margin expansion, reduce reinvestment capacity, and weaken the company’s ability to convert profitability into sustained growth.

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

Robust balance sheet with minimal leverage offers strong stability, aided by improving profitability and margins, though revenue volatility and inconsistent cash flows present ongoing risks.

Income Statement

64Positive

Balance Sheet

89Very Positive

Cash Flow

57Neutral

Financial statement breakdown
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

UnderperformOutperform

Sector (55)

Financial Indicators

TW:5398 against its peers
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:5398	60Neutral	TWD 842.46M	76.71	―	―	-16.59%	-8.81%
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: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

TW:5398 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:5398	Inalways Corporation	17.90	-5.45	-23.34%
TW:2314	Microelectronics Technology Inc.	6.66	-17.29	-72.19%
TW:3499	Globalsat Worldcom Corp.	11.35	-2.95	-20.63%
TW:6294	Tekom Technologies, Inc.	26.60	-16.94	-38.91%
TW:6818	Advanced Wireless & Antenna Inc.	33.50	-4.32	-11.42%
TW:8176	Z-Com, Inc.	11.30	-1.47	-11.50%

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

Inalways Corporation AI Stock Analysis