Jetway Information Co., Ltd. (6161) AI Stock Analysis

Jetway Information Co., Ltd.

(TPEx:6161)

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Rating:60Neutral

Price Target:TWD 47.00▼(-2.08% Downside)

Action:initiatedcoverage

Date:11/09/26

Jetway Information earns a moderate score. The dominant driver is financial performance: an almost debt-free balance sheet with a large equity cushion provides low financial risk, but this is offset by sharp margin compression (gross margin down from 42.5% to 33.2%), a ~20% fall in net income despite higher revenue, and a greater than 90% drop in operating and free cash flow — the clearest red flag in the results. Valuation provides meaningful support, with a modest 10.3x P/E and a near-5% dividend yield. Technicals are the weakest element, with the price below all key moving averages and negative MACD momentum. Overall, a cheap, financially conservative company whose re-rating likely depends on a recovery in margins and, more importantly, a normalisation of cash conversion.

Positive Factors

Low LeverageMinimal leverage gives Jetway substantial financial flexibility and reduces solvency risk. A lightly indebted balance sheet can support investment, dividends, or resilience during weaker operating periods without the same interest burden and refinancing pressure faced by more highly leveraged peers.

Negative Factors

Margin CompressionThe sharp deterioration in gross and net margins shows that recent revenue recovery has not translated into stronger profitability. Persistently lower margins would reduce earnings quality, limit internal funding for growth, and make results more sensitive to product mix, pricing, or operating-cost pressures.

Jetway Information Co., Ltd. (6161) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 2.69B
Dividend Yield: 4.58%
Average Volume (3M): 90.95K
Price to Earnings (P/E): 10.9
Beta (1Y): 0.77
Revenue Growth: 15.41%
EPS Growth: 74.96%
Country: TW
Employees: 264
Sector: General
Sector Strength: 55
Industry: Computer Hardware

Jetway Information Co., Ltd. Business Overview & Revenue Model

Company Description

Jetway Information Co., Ltd. engages in the manufacture and sales of computer and peripheral products. Its products include motherboards, tablet personal computer, IPC board, graphic cards, barebones and chassis products. The company was founded by K...

Jetway Information Co., Ltd. Financial Statement Overview

Summary

A tale of two halves. The balance sheet is exceptionally strong (score 86): total debt of just NT$16.1 million against NT$1.30 billion of equity (debt/equity ~1.2%), with equity funding 79% of assets and ROE of 11.7%. Earnings (score 56) are mixed: revenue rebounded to NT$1.41 billion from NT$1.25 billion, but gross margin fell to 33.2% from 42.5%, operating margin halved to 10.2%, and net income dropped ~20% to NT$152.7 million. Cash flow is the weak link (score 33): operating cash flow collapsed to NT$25.2 million from NT$221.4 million and free cash flow to NT$9.5 million, converting only ~8% of reported profit into cash versus ~86% a year earlier, signalling a sizeable working-capital build. Low financial risk, but earnings quality and cash conversion need to normalise.

Income Statement

56Neutral

Balance Sheet

86Very Positive

Cash Flow

33Negative

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Mar 2023	Dec 2021
Income Statement
Total Revenue	1.60B	1.41B	1.25B	1.33B	1.78B	1.82B
Gross Profit	520.41M	466.83M	531.55M	490.45M	611.26M	584.43M
EBITDA	217.49M	178.77M	298.38M	263.12M	368.66M	372.20M
Net Income	231.52M	152.75M	191.79M	172.41M	262.22M	246.10M
Balance Sheet
Total Assets	1.94B	1.65B	1.65B	1.81B	1.83B	1.95B
Cash, Cash Equivalents and Short-Term Investments	634.55M	509.43M	701.72M	896.62M	829.62M	527.06M
Total Debt	59.17M	16.10M	28.41M	36.62M	30.52M	32.61M
Total Liabilities	596.46M	343.08M	316.19M	364.48M	359.92M	576.13M
Stockholders Equity	1.34B	1.30B	1.33B	1.45B	1.47B	1.38B
Cash Flow
Free Cash Flow	111.64M	9.47M	176.69M	268.22M	405.80M	46.68M
Operating Cash Flow	120.38M	25.21M	221.43M	276.44M	412.77M	64.52M
Investing Cash Flow	-234.00K	73.68M	-155.22M	11.25M	103.29M	193.76M
Financing Cash Flow	-132.58M	-182.30M	-349.53M	-197.61M	-233.56M	-164.54M

Jetway Information Co., Ltd. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:6161 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:8049	66Neutral	TWD 2.67B	11.36	―	6.19%	4.38%	18.31%
TW:3669	61Neutral	TWD 2.77B	10.17	―	3.33%	9.13%	395.29%
TW:6161	60Neutral	TWD 2.61B	10.86	―	4.58%	15.41%	74.96%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
TW:5356	55Neutral	TWD 2.51B	18.70	―	8.21%	4.87%	156.29%
TW:2425	41Neutral	TWD 2.55B	17.19	―	0.33%	8.04%	―
TW:3047	41Neutral	TWD 2.99B	-15.27	―	2.23%	-32.95%	-101.63%

* General Sector Average

Performance Comparison

TW:6161 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:6161	Jetway Information Co., Ltd.	48.00	1.68	3.63%
TW:2425	Chaintech Technology Corp.	30.60	1.27	4.33%
TW:3047	Edimax Technology Co., Ltd.	13.90	-4.95	-26.26%
TW:3669	Aver Information Inc.	30.00	1.43	5.01%
TW:5356	Sirtec International Co., Ltd.	24.35	1.01	4.31%
TW:8049	Ampire Co., Ltd.	22.60	-1.22	-5.11%

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

Jetway Information Co., Ltd. AI Stock Analysis