CipherLab Co., Ltd. (6160) AI Stock Analysis

CipherLab Co., Ltd.

(TPEx:6160)

Select Model

Rating:39Underperform

Price Target:TWD 11.50▼(-3.77% Downside)

Action:initiatedcoverage

Date:11/10/26

The score is primarily constrained by weak profitability and materially negative cash flow, with additional pressure from a bearish technical trend and negative P/E ratio. Oversold momentum indicators and the relatively solid balance sheet provide limited offsets.

Positive Factors

Manageable LeverageModerate leverage means the company is not heavily debt-funded and retains more balance-sheet flexibility than a highly levered peer. This can help it absorb operating weakness and preserve options for investment, although declining equity still limits that cushion.

Negative Factors

Declining RevenueTwo consecutive years of revenue contraction indicate weakening demand, reduced customer activity or competitive pressure rather than a single-quarter setback. Continued top-line decline would make it harder to cover fixed costs, fund product development and return to sustainable profitability.

CipherLab Co., Ltd. (6160) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 818.44M
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

Weak overall financial condition: income statement and cash flow scores are very low, reflecting declining revenue, widening losses, and negative operating and free cash flow. The comparatively solid balance sheet and manageable leverage provide limited support. The component score is capped at the minimum of 37.

Income Statement

25Negative

Balance Sheet

65Positive

Cash Flow

20Very Negative

Financial statement breakdown
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

UnderperformOutperform

Sector (55)

Financial Indicators

TW:6160 against its peers
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

TW:6160 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:6160	CipherLab Co., Ltd.	11.95	-6.95	-36.77%
TW:2380	Avision Inc.	13.60	-3.65	-21.14%
TW:3128	Hi Sharp Electronics Co., Ltd.	17.90	-7.68	-30.03%
TW:3184	MicroBase Technology Corp.	13.65	1.45	11.92%
TW:3373	Radiant Innovation Inc.	16.60	-1.59	-8.74%
TW:6109	Atech OEM Inc.	8.96	-3.02	-25.23%

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

CipherLab Co., Ltd. AI Stock Analysis