I-Sheng Electric Wire & Cable Co., Ltd. (6115) AI Stock Analysis

I-Sheng Electric Wire & Cable Co., Ltd.

(TWSE:6115)

Select Model

Rating:61Neutral

Price Target:TWD 45.00▲(4.65% Upside)

Action:initiatedcoverage

Date:11/09/26

I-Sheng Electric Wire & Cable scores in the middle of the range. The conservative balance sheet — low leverage, strong equity funding and manageable debt — is the primary strength, supported by improving gross and operating margins on a second year of revenue recovery. Offsetting this, net income fell about 21% and cash generation deteriorated sharply, with only about a third of profit converting to operating cash flow due to heavy working-capital demands. Valuation is a clear positive, with a 12.6 P/E, a 6.5% dividend yield and low beta providing downside cushion. Technicals are the main near-term drag: the stock sits below all key moving averages with a negative MACD, though an RSI near 30 suggests the decline may be approaching exhaustion. A rebound in cash conversion would be the key catalyst for a higher score.

Positive Factors

Strong Revenue GrowthRevenue growth of about 42% in 2025, following 16% in 2024, indicates strong recent demand and expanding sales scale. If maintained, this growth can support operating leverage, strengthen customer relevance, and provide a larger base for future earnings generation.

Negative Factors

Margin CompressionThe decline in net margin despite strong revenue growth indicates that additional sales are producing less profit than before. Persistent cost or pricing pressure could limit operating leverage, reduce earnings growth, and make future profitability more sensitive to changes in demand.

I-Sheng Electric Wire & Cable Co., Ltd. (6115) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 8.09B
Dividend Yield: 6.51%
Average Volume (3M): 140.68K
Price to Earnings (P/E): 13.9
Beta (1Y): 0.21
Revenue Growth: 8.96%
EPS Growth: 2.49%
Country: TW
Employees: 3,667
Sector: General
Sector Strength: 55
Industry: Electrical Equipment & Parts

I-Sheng Electric Wire & Cable Co., Ltd. Business Overview & Revenue Model

Company Description

I-Sheng Electric Wire & Cable Co., Ltd., based in Taoyuan City, Taiwan, operates as an international supplier of a wide array of electrical and data transmission products. The company's core offerings include essential connectivity solutions such as...

I-Sheng Electric Wire & Cable Co., Ltd. Financial Statement Overview

Summary

A financially stable but cyclical profile. The balance sheet is the standout strength (score 76): debt-to-equity of roughly 0.31, equity funding about 63% of the NT$8.35 billion asset base, and debt at only ~1.9x annual cash operating earnings. The income statement (score 62) shows a second year of revenue recovery to roughly NT$7.55 billion with gross margin expanding to ~16.3% and operating profit rising to ~NT$780 million, though net income fell about 21% to NT$535 million and ROE eased to ~10.2%. Cash flow is the clear weak link (score 40): operating cash flow dropped to ~NT$177 million, converting only about a third of reported profit, with free cash flow roughly halved to ~NT$121 million as working capital tied to copper prices absorbs cash.

Income Statement

62Positive

Balance Sheet

76Positive

Cash Flow

40Negative

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	7.96B	7.55B	7.36B	6.33B	7.25B	7.73B
Gross Profit	1.26B	1.23B	1.11B	1.09B	1.22B	1.19B
EBITDA	928.26M	874.71M	1.05B	920.50M	1.17B	797.91M
Net Income	642.66M	535.28M	680.30M	529.18M	800.87M	507.48M
Balance Sheet
Total Assets	8.63B	8.35B	8.67B	8.37B	8.80B	8.74B
Cash, Cash Equivalents and Short-Term Investments	2.80B	3.01B	3.58B	3.54B	3.42B	2.80B
Total Debt	1.53B	1.63B	1.70B	1.60B	1.72B	1.97B
Total Liabilities	3.46B	3.05B	3.22B	3.24B	3.53B	3.89B
Stockholders Equity	5.12B	5.24B	5.39B	5.07B	5.20B	4.82B
Cash Flow
Free Cash Flow	1.41M	121.46M	236.20M	678.40M	1.24B	-159.62M
Operating Cash Flow	64.48M	176.92M	287.61M	748.82M	1.35B	29.25M
Investing Cash Flow	422.23M	29.01M	-39.05M	-291.31M	-512.27M	-678.16M
Financing Cash Flow	-580.97M	-684.98M	-10.87M	-702.85M	-635.68M	-338.57M

I-Sheng Electric Wire & Cable Co., Ltd. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:6115 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:1615	71Outperform	TWD 8.37B	8.06	―	5.93%	10.56%	23.77%
TW:5013	62Neutral	TWD 8.83B	30.92	―	1.02%	0.25%	51.97%
TW:6115	61Neutral	TWD 8.05B	13.90	―	6.51%	8.96%	2.49%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
TW:3003	54Neutral	TWD 7.46B	19.54	―	2.06%	11.87%	44.15%
TW:6834	44Neutral	TWD 9.54B	35.12	―	0.37%	47.04%	875.06%

* General Sector Average

Performance Comparison

TW:6115 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:6115	I-Sheng Electric Wire & Cable Co., Ltd.	43.00	-0.52	-1.19%
TW:1615	Dah San Electric Wire & Cable Corp	42.15	-3.52	-7.72%
TW:3003	K.S. Terminals Inc.	48.50	0.27	0.57%
TW:4565	Hong Wei Electrical Industry Co., Ltd.	120.00	13.38	12.55%
TW:5013	New Best Wire Industrial Co., Ltd.	68.60	40.67	145.63%
TW:6834	Ever Ohms Technology Co. Ltd.	104.50	77.18	282.53%

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

I-Sheng Electric Wire & Cable Co., Ltd. AI Stock Analysis