Neith Corporation AI Stock Analysis
Neith Corporation (6236) AI Stock Analysis
Neith Corporation
(TPEx:6236)
Neith Corporation scores in the lower-middle range. The most significant positive is a very conservative balance sheet — almost no debt and equity covering 92% of assets — combined with a first profit and positive free cash flow in 2025 after years of losses, aided by gross margins expanding to roughly 72%. These strengths are offset by meaningful risks: revenue declined about 8%, the core operating line is still marginally unprofitable, returns on equity are minimal, and cash generation has been negative in four of the last six years. Technicals compound the caution, with the price below all key moving averages and a negative MACD, though a low RSI hints at near-term oversold conditions. Valuation is the biggest drag, with an extreme P/E near 1,899x and no dividend. The investment case rests on management reviving revenue growth and sustaining the recent cost-driven profitability.
Neith Corporation (6236) vs. SPDR S&P 500 ETF (SPY)
- Market Cap
- TWD 574.83M
- Dividend Yield
- ―
- Average Volume (3M)
- 7,273
- Price to Earnings (P/E)
- 1746.8
- Beta (1Y)
- -0.10
- Revenue Growth
- -23.34%
- EPS Growth
- -35.54%
- Country
- TW
- Employees
- 51
- Sector
- General
- Sector Strength
- 55
- Industry
- Biotechnology
Neith Corporation Business Overview & Revenue Model
Company Description
Neith Corporation operates in diverse sectors, encompassing biotechnology, medical aesthetics, and preventive health solutions. The company provides a variety of nutritional supplements, including L-One, a liquid formula designed to support ocular we...
Neith Corporation Financial Statement Overview
Summary
Neith Corporation has reached a turning point: 2025 delivered its first net profit (about NT$3.2 million) after four straight loss years, alongside a strong gross margin expansion to roughly 72-74% and a swing to positive operating cash flow of NT$9.3 million with matching free cash flow. The balance sheet is the standout strength (Score 77), with equity funding about 92% of assets and a debt-to-equity ratio of just 0.05, leaving minimal financial risk. However, the income statement remains weak (Score 46): revenue fell about 8% to NT$36.1 million, the core operating line is still slightly negative (-2.6% margin), and the bottom-line profit is supported by items below the operating line. Cash flow (Score 58) has been negative in four of the last six years, so the 2025 reversal is encouraging but unproven. Equity has also eroded from roughly NT$208 million in 2022 to NT$155 million, and ROE is thin at about 2%.
Income Statement
46NeutralBalance Sheet
77PositiveCash Flow
58Neutral| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 31.84M | 36.15M | 45.57M | 39.90M | 32.06M | 31.39M |
| Gross Profit | 23.80M | 26.19M | 33.72M | 18.02M | 13.37M | 14.51M |
| EBITDA | 2.65M | 3.58M | -12.08M | -33.61M | -18.49M | -2.28M |
| Net Income | 324.00K | 3.16M | -16.88M | -40.03M | -23.69M | -5.35M |
Balance Sheet | ||||||
| Total Assets | 166.79M | 167.94M | 170.88M | 192.15M | 228.86M | 76.75M |
| Cash, Cash Equivalents and Short-Term Investments | 138.97M | 141.21M | 133.09M | 162.30M | 181.78M | 36.07M |
| Total Debt | 5.50M | 7.00M | 9.92M | 3.54M | 10.42M | 1.19M |
| Total Liabilities | 11.02M | 13.10M | 16.57M | 17.43M | 20.37M | 5.08M |
| Stockholders Equity | 155.78M | 154.84M | 154.32M | 174.72M | 208.49M | 71.67M |
Cash Flow | ||||||
| Free Cash Flow | 4.65M | 9.29M | -27.99M | -17.64M | -34.16M | 5.96M |
| Operating Cash Flow | 4.65M | 9.29M | -27.99M | -17.64M | -26.46M | 7.46M |
| Investing Cash Flow | 41.00K | 1.75M | 10.06M | -6.72M | 15.46M | 2.77M |
| Financing Cash Flow | -2.97M | -2.92M | -2.83M | -3.57M | 156.72M | -1.39M |
Neith Corporation Peers Comparison
Overall Rating
TW:686566Neutral
TW:629460Neutral
TW:817659Neutral- TW:623649Neutral
TW:232144Neutral
TW:624140Underperform
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| TW:6865 | 66Neutral | TWD 487.89M | -35.80 | ― | 4.55% | -37.97% | -138.87% |
| TW:6294 | 60Neutral | TWD 696.76M | 10.03 | ― | 11.21% | -12.40% | -35.00% |
| TW:8176 | 59Neutral | TWD 580.85M | 33.71 | ― | ― | -46.30% | -54.49% |
| Sector * | 55Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
| TW:6236 | 49Neutral | TWD 574.83M | 1746.84 | ― | ― | -23.34% | -35.54% |
| TW:2321 | 44Neutral | TWD 459.68M | 33.14 | ― | ― | 2.67% | ― |
| TW:6241 | 40Underperform | TWD 749.03M | 35.00 | ― | ― | -6.78% | ― |
* General Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| TW:6236 | Neith Corporation | 13.80 | -15.50 | -52.90% | |
| TW:2321 | Tecom Co., Ltd. | 28.50 | -3.50 | -10.93% | |
| TW:6241 | Amigo Technology, Inc. | 16.45 | 0.35 | 2.15% | |
| TW:6294 | Tekom Technologies, Inc. | 26.75 | -17.07 | -38.95% | |
| TW:6865 | WebComm Technology Co., Ltd. | 30.80 | -15.01 | -32.77% | |
| TW:8176 | Z-Com, Inc. | 10.30 | -2.17 | -17.40% |
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