CipherLab Co., Ltd. AI Stock Analysis
CipherLab Co., Ltd. (6160) AI Stock Analysis
CipherLab Co., Ltd.
(TPEx:6160)
CipherLab scores poorly overall, driven primarily by deteriorating financial performance: three consecutive years of revenue decline, a widening net loss of NT$81.7m, negative EBITDA and a second straight year of negative free cash flow. A conservatively financed balance sheet (60% equity funding, 0.31 debt-to-equity) and a resilient ~39% gross margin provide a cushion, but accumulated losses are steadily eroding equity. Technicals compound the concern, with the price below all major moving averages and a negative MACD confirming a sustained downtrend, though deeply oversold RSI and Stochastic readings leave room for a short-term bounce. Valuation provides no support, as the negative P/E reflects ongoing losses and there is no dividend to compensate investors. A return to revenue growth or a meaningful cost reset is the key catalyst to watch.
CipherLab Co., Ltd. (6160) vs. SPDR S&P 500 ETF (SPY)
- Market Cap
- TWD 832.14M
- Dividend Yield
- ―
- Average Volume (3M)
- 71.83K
- Price to Earnings (P/E)
- -6.5
- Beta (1Y)
- 0.79
- Revenue Growth
- -21.57%
- EPS Growth
- -273.84%
- Country
- TW
- Employees
- 340
- Sector
- General
- Sector Strength
- 55
- Industry
- Business Equipment & Supplies
CipherLab Co., Ltd. Business Overview & Revenue Model
Company Description
Cipherlab Co.,Ltd. is a global entity specializing in the design, manufacturing, marketing, and sale of automatic identification and data capture (AIDC) products under its proprietary CipherLab brand. The company's extensive product offerings include...
CipherLab Co., Ltd. Financial Statement Overview
Summary
A weak earnings engine dominates the picture. Revenue has declined for three consecutive years to roughly NT$1.19bn (-8.0% in the latest period), and the fixed cost base now exceeds gross profit, producing a third straight operating loss (-6.1% margin), a widened net loss of NT$81.7m and negative EBITDA of -NT$25.3m. Cash flow is also negative, with operating cash flow of -NT$16.6m and free cash flow of -NT$32.3m, the second straight year of burn. The offsetting strength is the balance sheet: equity funds about 60% of assets, debt-to-equity is a conservative 0.31 and capex is light, giving management a cushion. However, equity has eroded roughly 20% from its 2022 peak, borrowings have risen, and ROE is deeply negative at -12.7%, so the cushion is shrinking rather than compounding.
Income Statement
25NegativeBalance Sheet
58NeutralCash Flow
27Negative| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.08B | 1.19B | 1.29B | 1.36B | 1.26B | 1.42B |
| Gross Profit | 389.63M | 465.96M | 503.86M | 498.48M | 472.08M | 499.00M |
| EBITDA | -63.86M | -25.29M | 4.57M | 45.88M | 97.66M | 108.63M |
| Net Income | -113.54M | -81.67M | -39.10M | -4.37M | 32.25M | 35.48M |
Balance Sheet | ||||||
| Total Assets | 1.13B | 1.07B | 1.19B | 1.21B | 1.37B | 1.32B |
| Cash, Cash Equivalents and Short-Term Investments | 92.61M | 150.67M | 140.95M | 184.27M | 218.28M | 191.28M |
| Total Debt | 308.00M | 197.07M | 182.90M | 113.72M | 218.09M | 229.67M |
| Total Liabilities | 543.98M | 426.98M | 466.51M | 448.60M | 567.37M | 531.90M |
| Stockholders Equity | 589.18M | 644.89M | 727.41M | 759.91M | 805.61M | 785.04M |
Cash Flow | ||||||
| Free Cash Flow | -200.58M | -32.32M | -65.30M | 127.46M | 110.51M | -21.64M |
| Operating Cash Flow | -186.02M | -16.63M | -54.83M | 145.33M | 117.33M | -2.93M |
| Investing Cash Flow | -21.63M | -17.35M | -18.45M | -27.63M | -8.46M | -20.84M |
| Financing Cash Flow | 68.71M | 6.18M | 15.87M | -151.62M | -86.19M | 53.30M |
CipherLab Co., Ltd. Peers Comparison
Overall Rating
TW:312848Neutral
TW:238042Neutral
TW:337340Underperform- TW:616039Underperform
TW:610938Underperform
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| Sector * | 55Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
| TW:3128 | 48Neutral | TWD 900.31M | 16.15 | ― | 2.23% | -12.58% | -22.95% |
| TW:2380 | 42Neutral | TWD 822.31M | -2.42 | ― | ― | 24.06% | 57.68% |
| TW:3373 | 40Underperform | TWD 788.09M | -22.47 | ― | 0.60% | -2.28% | 36.05% |
| TW:6160 | 39Underperform | TWD 835.57M | -6.45 | ― | ― | -21.57% | -273.84% |
| TW:6109 | 38Underperform | TWD 800.09M | -10.86 | ― | ― | 19.88% | 48.32% |
* General Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| TW:6160 | CipherLab Co., Ltd. | 11.95 | -7.15 | -37.43% | |
| TW:2380 | Avision Inc. | 13.60 | -4.48 | -24.77% | |
| TW:3128 | Hi Sharp Electronics Co., Ltd. | 17.90 | -8.24 | -31.52% | |
| TW:3184 | MicroBase Technology Corp. | 13.65 | 1.60 | 13.32% | |
| TW:3373 | Radiant Innovation Inc. | 16.60 | -1.44 | -7.98% | |
| TW:6109 | Atech OEM Inc. | 8.96 | -3.17 | -26.12% |
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