B'In Live Co., Ltd. (6625) AI Stock Analysis

B'In Live Co., Ltd.

(TWSE:6625)

Select Model

Rating:68Neutral

Price Target:TWD 74.00▲(4.37% Upside)

Action:initiatedcoverage

Date:11/09/26

B'In Live scores well on fundamentals and valuation but is held back by poor price momentum. The company has transformed into a profitable, fast-growing live-entertainment operator with revenue up ~39% in the latest year, net income of NT$512m, a ~27% return on equity and a conservatively leveraged balance sheet. Valuation is compelling at a 6.5x P/E with a 7.4% dividend yield and low beta. Offsetting these strengths, the shares trade below all key moving averages with a negative MACD, reflecting a persistent downtrend, though the very low RSI of 18.4 indicates deeply oversold conditions. The key fundamental risk is cash flow: a heavy capital-spending cycle drove free cash flow to -NT$691m, and investors will want evidence that these investments convert into cash returns, particularly given the inherently lumpy nature of concert and event revenue.

Positive Factors

Rapid Revenue GrowthThe substantial expansion in revenue indicates that the company has built a larger operating platform and sustained demand for its entertainment activities. Continued scale can improve resource utilization, broaden its market presence, and provide a stronger base for future earnings growth.

Negative Factors

Negative Free Cash FlowThe sharp free-cash-flow deterioration shows that investment or working-capital needs absorbed substantially more cash than in prior years. Persistent volatility could reduce financial flexibility, increase reliance on external funding, and limit the cash available for expansion, dividends, or resilience during weaker periods.

B'In Live Co., Ltd. (6625) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 4.05B
Dividend Yield: 7.05%
Average Volume (3M): 71.04K
Price to Earnings (P/E): 6.8
Beta (1Y): 0.39
Revenue Growth: 19.35%
EPS Growth: 5.32%
Country: TW
Employees: 302
Sector: General
Sector Strength: 55
Industry: Entertainment

B'In Live Co., Ltd. Business Overview & Revenue Model

Company Description

B'in Live Co., Ltd., based in Taipei, Taiwan, offers a wide array of event production services. The company specializes in the visual and technical aspects of live events, including conceptualizing and designing graphic visuals for concerts, as well...

B'In Live Co., Ltd. Financial Statement Overview

Summary

Strong fundamentals led by an impressive income statement (score 79): revenue has compounded from ~NT$795m in 2020 to NT$4.37bn in 2025, including ~39% growth in the latest year, while the business swung from losses to NT$512m of net income with operating margin reaching 12.9%. The balance sheet (74) is well capitalized, with equity nearly doubling to NT$1.89bn, conservative debt-to-equity of 0.27, and a high ~27% return on equity. Cash flow (56) is the weak link: operating cash flow of NT$648m was flat year-over-year despite ~40% revenue growth, and heavy capital spending pushed free cash flow to -NT$691m from +NT$553m. Risks include lumpy, tour-dependent event revenue, thin absolute margins, and a step-up in borrowings funding an unproven investment cycle.

Income Statement

79Positive

Balance Sheet

74Positive

Cash Flow

56Neutral

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	4.74B	4.37B	3.15B	2.56B	1.30B	838.37M
Gross Profit	1.03B	813.79M	537.58M	531.03M	169.27M	77.76M
EBITDA	918.90M	732.45M	502.05M	419.37M	88.02M	11.64M
Net Income	599.38M	512.05M	284.42M	294.80M	-19.48M	-92.89M
Balance Sheet
Total Assets	3.74B	3.61B	1.97B	1.67B	1.16B	1.02B
Cash, Cash Equivalents and Short-Term Investments	1.10B	1.22B	1.11B	679.79M	489.50M	354.85M
Total Debt	618.24M	514.90M	63.33M	76.89M	85.84M	104.51M
Total Liabilities	1.84B	1.72B	964.55M	807.86M	598.15M	446.85M
Stockholders Equity	1.89B	1.89B	1.00B	865.70M	564.70M	572.70M
Cash Flow
Free Cash Flow	-473.58M	-690.51M	553.22M	256.17M	179.20M	-84.07M
Operating Cash Flow	812.31M	648.23M	675.67M	429.36M	269.35M	-8.73M
Investing Cash Flow	-1.25B	-1.35B	-116.69M	-182.97M	-90.52M	-109.97M
Financing Cash Flow	17.12M	801.04M	-181.22M	-24.69M	-47.96M	-20.94M

B'In Live Co., Ltd. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:6625 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:5225	69Neutral	TWD 3.43B	6.52	―	16.81%	-8.09%	-73.34%
TW:6625	68Neutral	TWD 3.91B	6.84	―	7.05%	19.35%	5.32%
TW:5203	66Neutral	TWD 3.85B	17.32	―	7.26%	-1.72%	-18.77%
TW:5489	64Neutral	TWD 3.89B	19.85	―	3.84%	10.02%	-11.10%
TW:3356	58Neutral	TWD 4.41B	4.77	―	8.95%	-1.81%	529.31%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
TW:2417	43Neutral	TWD 4.64B	23.77	―	0.76%	9.30%	―

* General Sector Average

Performance Comparison

TW:6625 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:6625	B'In Live Co., Ltd.	70.90	-7.20	-9.22%
TW:2417	AVerMedia Technologies, Inc.	32.80	-3.96	-10.76%
TW:3356	GeoVision, Inc.	65.50	15.47	30.93%
TW:5203	Cyberlink Corp.	50.90	-44.90	-46.87%
TW:5225	Eastech Holding Limited	42.90	-51.39	-54.50%
TW:5489	Dynacolor, Inc.	39.50	0.72	1.86%

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

B'In Live Co., Ltd. AI Stock Analysis