JMC Electronics Co., Ltd. (6552) AI Stock Analysis

JMC Electronics Co., Ltd.

(TWSE:6552)

Select Model

Rating:37Underperform

Price Target:TWD 17.50▼(-8.14% Downside)

Action:initiatedcoverage

Date:11/10/26

The overall score is at the absolute minimum, reflecting a company in severe financial distress. The most significant factor is the fundamentally broken business model, evidenced by a deeply negative gross margin that is driving massive net losses and rapid cash burn. This is compounded by a technically oversold stock in a persistent downtrend and a negative P/E ratio that underscores the lack of earnings power. The company faces a potential solvency crisis without a dramatic operational turnaround.

Positive Factors

Manageable LeverageManageable leverage and positive equity provide some financial resilience despite recent losses. This leaves the company with more flexibility to stabilize operations, manage obligations, and pursue recovery than a heavily distressed balance sheet would allow.

Negative Factors

Revenue ContractionRevenue contraction weakens the scale available to absorb fixed costs and makes a return to sustainable profitability more difficult. Continued top-line pressure could reduce operating leverage, limit reinvestment capacity, and prolong the company’s earnings recovery.

JMC Electronics Co., Ltd. (6552) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 1.58B
Dividend Yield: 1.04%
Average Volume (3M): 68.90K
Price to Earnings (P/E): -1.5
Beta (1Y): 1.02
Revenue Growth: -28.07%
EPS Growth: -245.38%
Country: TW
Employees: 646
Sector: General
Sector Strength: 55
Industry: Semiconductors

JMC Electronics Co., Ltd. Business Overview & Revenue Model

Company Description

JMC Electronics Co., Ltd. specializes in the production of reel-to-reel chip-on-film components, which are utilized in liquid crystal display (LCD) applications across Taiwan. Founded in 1973, the company's principal office is located in Kaohsiung, T...

JMC Electronics Co., Ltd. Financial Statement Overview

Summary

Financial performance is critically distressed. The income statement shows a -26% gross margin and -82.8% net margin, indicating the business model is broken. The balance sheet is under severe stress with equity nearly halving and a spiking debt-to-equity ratio. Cash flow has collapsed, with operating cash flow barely positive and free cash flow turning deeply negative, signaling a liquidity crisis.

Income Statement

8Very Negative

Balance Sheet

28Negative

Cash Flow

15Very Negative

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	1.19B	1.44B	1.96B	1.77B	2.11B	3.00B
Gross Profit	-285.40M	-374.32M	47.54M	39.03M	220.91M	599.47M
EBITDA	-117.27M	-96.01M	503.18M	500.53M	530.18M	776.50M
Net Income	-1.09B	-1.19B	13.19M	7.48M	73.36M	324.41M
Balance Sheet
Total Assets	3.89B	3.28B	4.08B	4.25B	4.72B	4.90B
Cash, Cash Equivalents and Short-Term Investments	281.44M	621.62M	559.49M	609.15M	876.74M	674.55M
Total Debt	965.60M	1.30B	1.07B	1.36B	1.84B	1.53B
Total Liabilities	1.23B	1.58B	1.39B	1.72B	2.29B	2.09B
Stockholders Equity	2.66B	1.70B	2.69B	2.53B	2.43B	2.80B
Cash Flow
Free Cash Flow	12.80M	-47.01M	345.28M	270.82M	481.69M	416.39M
Operating Cash Flow	59.57M	63.85M	422.22M	362.86M	618.46M	667.71M
Investing Cash Flow	-86.71M	-209.81M	-146.79M	-100.93M	-552.04M	-356.70M
Financing Cash Flow	-116.83M	208.42M	-322.20M	-526.65M	134.69M	68.02M

JMC Electronics Co., Ltd. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:6552 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:6194	67Neutral	TWD 1.54B	27.05	―	4.70%	-26.18%	-74.69%
TW:8032	57Neutral	TWD 1.62B	8.99	―	3.80%	33.20%	107.84%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
TW:6134	43Neutral	TWD 1.74B	29.31	―	0.92%	37.45%	―
TW:3390	40Underperform	TWD 1.50B	-81.40	―	1.00%	18.32%	―
TW:6552	37Underperform	TWD 1.59B	-1.50	―	1.04%	-28.07%	-245.38%

* General Sector Average

Performance Comparison

TW:6552 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:6552	JMC Electronics Co., Ltd.	19.05	-6.15	-24.40%
TW:3390	Sunflex Technology Corp.	19.90	-1.31	-6.19%
TW:6134	Wanshih Electronic Co., Ltd	21.75	-0.38	-1.72%
TW:6194	Yufo Electronics Co., Ltd.	31.90	-2.14	-6.29%
TW:6272	Wieson Technologies Co., Ltd.	19.40	-35.09	-64.40%
TW:8032	Koryo Electronics Co., Ltd.	31.55	-6.01	-16.01%

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

JMC Electronics Co., Ltd. AI Stock Analysis