Kim Forest Enterprise Co., Ltd. (6645) AI Stock Analysis

Kim Forest Enterprise Co., Ltd.

(TWSE:6645)

Select Model

Rating:39Underperform

Price Target:TWD 12.00▼(-5.51% Downside)

Action:initiatedcoverage

Date:11/10/26

The score is driven primarily by persistent losses, negative cash generation, and increased leverage. Technical indicators are also weak, while the negative P/E and absent dividend yield provide no valuation support.

Positive Factors

Revenue RecoveryThe sharp 2025 revenue rebound indicates that the company regained substantial top-line activity after weaker periods. If maintained, this broader revenue base could improve operating leverage, support scale benefits, and provide a foundation for restoring profitability over coming quarters.

Negative Factors

Persistent LossesThree consecutive years of losses indicate that the recent revenue recovery has not translated into a viable earnings model. The deeply negative net margin weakens retained capital, limits self-funded growth, and leaves the company dependent on a substantial improvement in operating performance.

Kim Forest Enterprise Co., Ltd. (6645) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 769.93M
Dividend Yield: ―
Average Volume (3M): 49.51K
Price to Earnings (P/E): -5.7
Beta (1Y): 0.31
Revenue Growth: 26.36%
EPS Growth: 29.79%
Country: TW
Employees: 130
Sector: General
Sector Strength: 55
Industry: Medical - Diagnostics & Research

Kim Forest Enterprise Co., Ltd. Business Overview & Revenue Model

Company Description

Kim Forest Enterprise Co., Ltd. specializes in advanced precision medical products. The company equips healthcare providers with essential diagnostic devices, reagents, and analytical pipelines, enabling crucial screening tests for conditions such as...

Kim Forest Enterprise Co., Ltd. Financial Statement Overview

Summary

Very weak overall financial profile: the provided income statement, balance sheet, and cash flow scores average 30.0 before applying the required 37-point minimum. Persistent losses, negative free cash flow, and rising leverage justify the minimum score.

Income Statement

25Negative

Balance Sheet

45Neutral

Cash Flow

20Very Negative

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	599.63M	549.14M	501.53M	415.01M	670.59M	600.67M
Gross Profit	88.41M	71.75M	56.23M	78.61M	253.95M	259.47M
EBITDA	-61.17M	-74.34M	-103.29M	-72.68M	110.22M	141.00M
Net Income	-135.68M	-146.45M	-159.88M	-102.47M	42.41M	89.44M
Balance Sheet
Total Assets	1.04B	1.02B	1.14B	970.12M	846.83M	742.81M
Cash, Cash Equivalents and Short-Term Investments	100.54M	123.74M	217.86M	186.78M	125.45M	180.99M
Total Debt	473.47M	385.51M	366.60M	218.89M	130.67M	106.18M
Total Liabilities	604.36M	503.64M	503.22M	392.20M	264.55M	200.95M
Stockholders Equity	419.36M	490.86M	636.04M	577.92M	582.27M	541.69M
Cash Flow
Free Cash Flow	-89.47M	-114.39M	-270.20M	-101.31M	-57.37M	80.99M
Operating Cash Flow	-58.70M	-56.56M	-170.75M	-64.54M	52.95M	89.70M
Investing Cash Flow	-28.75M	-40.27M	-98.33M	-42.87M	-109.05M	-15.99M
Financing Cash Flow	104.75M	2.85M	299.93M	168.87M	281.00K	20.75M

Kim Forest Enterprise Co., Ltd. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:6645 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:6615	46Neutral	TWD 696.39M	49.24	―	0.93%	-6.67%	―
TW:4171	40Underperform	TWD 896.99M	-40.49	―	―	11.99%	84.94%
TW:6645	39Underperform	TWD 779.06M	-5.67	―	―	26.36%	29.79%

* General Sector Average

Performance Comparison

TW:6645 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:6645	Kim Forest Enterprise Co., Ltd.	12.70	-7.10	-35.86%
TW:4171	GeneReach Biotechnology Corp.	15.50	-4.55	-22.69%
TW:6493	TTBIO CORP.	28.80	-0.30	-1.03%
TW:6572	PlexBio Co., Ltd.	6.28	-3.12	-33.19%
TW:6615	Sofiva Genomics Co., Ltd.	32.50	1.90	6.21%
TW:6879	Tci Gene Inc.	35.50	-3.65	-9.32%

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 10, 2026

Kim Forest Enterprise Co., Ltd. AI Stock Analysis