Wiltrom Co. Ltd. (6767) AI Stock Analysis

Wiltrom Co. Ltd.

(TPEx:6767)

Select Model

Rating:43Neutral

Price Target:TWD 23.00▼(-3.56% Downside)

Action:initiatedcoverage

Date:11/09/26

Wiltrom scores in the lower range, driven primarily by weak financial performance: six consecutive years of negative operating and free cash flow, a 2025 net loss of about NT$19 million, and a roughly 9% revenue decline that interrupted several years of rapid growth. These risks outweigh the genuine strengths of a near-78% gross margin and a conservatively financed balance sheet with debt-to-equity of just 0.14. Technicals reinforce the caution, with the share price below all major moving averages and a negative MACD. Valuation provides no cushion, as the P/E is negative and no dividend is paid. The main positive to watch is the sharply narrowing loss and the lowest cash burn in six years, which suggests improving cost discipline — but a return to revenue growth and sustained profitability is needed before the score can improve materially.

Positive Factors

High Gross MarginsConsistently high gross margins indicate attractive underlying product economics and potential pricing power. This provides a meaningful foundation for future profitability because additional revenue could contribute substantial gross profit, provided the company can control operating expenses and restore sustainable scale.

Negative Factors

Recent Revenue DeclineThe 2025 revenue contraction indicates that prior expansion has recently lost momentum, creating a more difficult foundation for operating leverage. If lower revenue persists, the company may struggle to absorb fixed costs, convert its high gross margins into earnings, and regain a durable growth trajectory.

Wiltrom Co. Ltd. (6767) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 934.53M
Dividend Yield: ―
Average Volume (3M): 5,785
Price to Earnings (P/E): -41.1
Beta (1Y): 0.22
Revenue Growth: -8.10%
EPS Growth: -24.86%
Country: TW
Employees: 51
Sector: General
Sector Strength: 55
Industry: Medical - Devices

Wiltrom Co. Ltd. Business Overview & Revenue Model

Company Description

Wiltrom Co., Ltd., an enterprise headquartered in Zhubei, Taiwan, specializes in the research, development, manufacturing, and global distribution of advanced implantable medical devices. Established in 2009, the company provides a diverse portfolio...

Wiltrom Co. Ltd. Financial Statement Overview

Summary

A mixed profile. The balance sheet is the clear strength (score 68): equity of about NT$573 million funds most of NT$711 million in assets and debt-to-equity is a conservative 0.14, giving the company room to absorb further losses. However, the income statement (36) and cash flow (30) remain weak: revenue fell roughly 9% in 2025 to about NT$312 million after years of 36%–43% growth, and the company posted a net loss of about NT$19 million despite an excellent ~78% gross margin. Operating cash flow and free cash flow have been negative for six straight years. The encouraging trend is narrowing losses (operating loss down from NT$48m to NT$28m), positive EBITDA and cash burn falling to its lowest level on record, but profitability and cash generation remain unproven.

Income Statement

36Negative

Balance Sheet

68Positive

Cash Flow

30Negative

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	314.09M	311.77M	334.73M	282.54M	206.86M	144.50M
Gross Profit	244.37M	243.22M	263.77M	222.60M	156.61M	102.39M
EBITDA	10.43M	3.63M	-25.25M	22.23M	1.67M	-28.68M
Net Income	-17.15M	-19.10M	-49.05M	1.49M	-16.98M	-47.39M
Balance Sheet
Total Assets	696.30M	710.68M	732.38M	497.50M	504.01M	502.48M
Cash, Cash Equivalents and Short-Term Investments	326.75M	365.95M	376.02M	162.48M	165.92M	221.56M
Total Debt	79.97M	81.02M	75.18M	90.14M	99.09M	76.18M
Total Liabilities	124.14M	137.96M	140.41M	126.69M	134.66M	116.47M
Stockholders Equity	572.15M	572.72M	591.96M	370.81M	369.35M	386.01M
Cash Flow
Free Cash Flow	-35.85M	-14.69M	-42.16M	-53.66M	-60.27M	-44.81M
Operating Cash Flow	-4.40M	-4.68M	-26.98M	-15.46M	-5.48M	-19.96M
Investing Cash Flow	-33.71M	-3.87M	-169.99M	-914.00K	-72.58M	-44.99M
Financing Cash Flow	-2.35M	-1.46M	254.65M	-8.38M	22.28M	142.63M

Wiltrom Co. Ltd. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:6767 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:4530	57Neutral	TWD 909.19M	-169.33	―	―	74.08%	93.83%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
TW:8440	53Neutral	TWD 967.41M	18.84	―	2.86%	-6.00%	659.16%
TW:6624	49Neutral	TWD 784.64M	62.79	―	0.80%	-31.58%	-81.33%
TW:6971	48Neutral	TWD 986.03M	10.67	―	5.88%	―	―
TW:6767	43Neutral	TWD 922.77M	-41.12	―	―	-8.10%	-24.86%

* General Sector Average

Performance Comparison

TW:6767 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:6767	Wiltrom Co. Ltd.	23.85	-4.15	-14.82%
TW:4530	Tianyi Water Energy Solutions Inc.	25.40	-3.76	-12.88%
TW:6624	Ever-Clear Environmental Eng. Corp.	36.00	1.24	3.57%
TW:6723	JG Environmental Technology Co., Ltd.	27.85	-12.76	-31.42%
TW:6971	Hui Min Environmental Tech Corp.	25.50	-6.35	-19.94%
TW:8440	E&E Recycling, Inc.	19.20	-6.14	-24.22%

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

Wiltrom Co. Ltd. AI Stock Analysis