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InnoCare Optoelectronics Corp. (6861) AI Stock Analysis

TW:6861

InnoCare Optoelectronics Corp.

(TWSE:6861)

Select Model
Rating:66Neutral
Price Target:TWD 187.00â–²(3.03% Upside)
Action:initiatedcoverage
Date:11/10/26

The score is supported primarily by a strong balance sheet and improving cash generation, but declining operating margins weigh on financial performance. Weak momentum, a negative MACD, and a moderately priced valuation with a low dividend yield further limit the overall score.

Positive Factors
Conservative Balance SheetVery low leverage and a substantially larger equity base provide financial resilience and flexibility. This reduces dependence on borrowing, supports investment through industry cycles, and leaves the company better positioned to absorb volatility while pursuing opportunities over the next several quarters.
Negative Factors
Operating Margin CompressionFalling operating margins show that higher sales are not currently producing consistent operating leverage. If this persists, weaker cost absorption could limit earnings growth, reduce the cash available for reinvestment, and make future results more sensitive to changes in revenue.

InnoCare Optoelectronics Corp. (6861) vs. SPDR S&P 500 ETF (SPY)

-100%0%100%200%300%400%500%600%700%800%TW:6861+218.85%SPY+14.30%Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
Market Cap
TWD 7.65B
Dividend Yield
1.10%
Average Volume (3M)
1.27M
Price to Earnings (P/E)
22.9
Beta (1Y)
1.75
Revenue Growth
40.99%
EPS Growth
129.85%
Country
TW
Employees
365
Sector
General
Sector Strength
55
Industry
Medical - Devices

InnoCare Optoelectronics Corp. Business Overview & Revenue Model

Company Description

InnoCare Optoelectronics Corporation specializes in the invention, production, and worldwide distribution of X-ray flat panel detectors and sensors. These vital components find applications across diverse sectors, including human and animal healthcar...

InnoCare Optoelectronics Corp. Financial Statement Overview

Summary

Strong balance sheet and improving cash flow support the score, with low leverage, rising equity, and positive free cash flow. Revenue and net income grew, but declining gross, EBIT, EBITDA, and net margins limit profitability strength.

Income Statement

65Positive

Balance Sheet

88Very Positive

Cash Flow

82Very Positive
Financial statement breakdown
BreakdownTTMDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue2.75B2.29B1.99B1.84B1.89B1.94B
Gross Profit695.88M559.90M552.28M502.67M583.21M525.92M
EBITDA318.06M213.10M280.53M111.58M156.06M172.60M
Net Income269.36M159.51M152.94M116.66M198.72M198.52M
Balance Sheet
Total Assets2.98B2.58B2.37B2.27B2.00B1.70B
Cash, Cash Equivalents and Short-Term Investments867.46M869.07M794.58M671.66M577.37M459.45M
Total Debt108.35M135.32M174.05M190.66M459.49M39.89M
Total Liabilities1.42B1.12B989.00M983.71M1.18B1.07B
Stockholders Equity1.56B1.46B1.38B1.28B816.62M636.68M
Cash Flow
Free Cash Flow176.26M240.17M143.96M47.40M-315.91M-193.85M
Operating Cash Flow200.62M281.61M234.93M109.20M-253.25M-126.25M
Investing Cash Flow-66.00M-79.20M-52.03M-74.52M-23.25M-187.47M
Financing Cash Flow-124.55M-112.80M-87.06M76.86M391.55M30.38M

InnoCare Optoelectronics Corp. Peers Comparison

Overall Rating

UnderperformOutperform
Sector (55)

Financial Indicators

TW:6861 against its peers
NameOverall RatingMarket CapP/E RatioROEDividend YieldRevenue GrowthEPS Growth
TW:4953TW:495368NeutralTWD 8.45B10.86―4.47%26.80%60.84%
TW:6861TW:686166NeutralTWD 7.45B22.89―1.10%40.99%129.85%
TW:6175TW:617564NeutralTWD 8.97B19.15―2.45%19.72%17.77%
Sector *55Neutral$6.65B3.83-15.92%6.20%10.91%7.18%
TW:8111TW:811150NeutralTWD 8.62B98.68―0.76%-3.80%53.10%
TW:6120TW:612047NeutralTWD 6.68B8.77―12.09%-6.71%426.59%

* General Sector Average

Performance Comparison

0%200%400%600%TW:6861TW:4953TW:6120TW:6175TW:7717TW:8111Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
TW:6861 and its peers over the selected period
Show on chartTickerCompany NamePriceChange% Change
TW:6861InnoCare Optoelectronics Corp.181.50123.48212.85%
TW:4953WITS Corp.115.00-1.02-0.88%
TW:6120DARWIN PRECISIONS Corporation11.250.383.53%
TW:6175Liton Technology Corp.61.1012.8026.51%
TW:7717Lightel Corp430.00261.13154.63%
TW:8111Ligitek Electronics Co., Ltd.78.8011.0316.27%
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