Winstar Display Co Ltd (6916) AI Stock Analysis

Winstar Display Co Ltd

(TWSE:6916)

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Rating:39Underperform

Price Target:TWD 17.00▼(-6.85% Downside)

Action:initiatedcoverage

Date:11/10/26

The overall score is very low, driven primarily by severe financial distress. The company is unprofitable, burning cash, and seeing its balance sheet weaken. This fundamental weakness is the most significant factor. The technical trend is also bearish, confirming a lack of market confidence, and the negative P/E ratio underscores the earnings collapse. The combination of poor financial health and weak market momentum presents a high-risk profile.

Positive Factors

Revenue StabilityRevenue was essentially stable in 2025, indicating the company retained demand for its display modules despite recent earnings pressure. A stable top line gives management a base from which to restore margins and rebuild operating leverage over the next several quarters.

Negative Factors

Profitability DeteriorationThe shift from modest profit to a net loss, alongside lower gross margin and negative operating profit, shows that current revenue is not converting effectively into earnings. Persistent margin pressure could weaken reinvestment capacity and make recovery dependent on successful cost or product-mix improvements.

Winstar Display Co Ltd (6916) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 1.27B
Dividend Yield: 1.51%
Average Volume (3M): 44.72K
Price to Earnings (P/E): -21.2
Beta (1Y): 0.50
Revenue Growth: 19.42%
EPS Growth: 68.90%
Country: TW
Employees: 756
Sector: General
Sector Strength: 55
Industry: Hardware, Equipment & Parts

Winstar Display Co Ltd Business Overview & Revenue Model

Company Description

Winstar Display Co., Ltd., based in Taichung City, Taiwan, is a prominent global provider specializing in the production, refinement, and sale of a diverse array of display solutions and modules. Established in 1998, the company's reach extends inter...

Winstar Display Co Ltd Financial Statement Overview

Summary

Financial health is severely stressed. The income statement shows a swing to net losses with deeply negative operating margins, the cash flow statement reveals significant cash burn with negative operating and free cash flow, and the balance sheet is deteriorating with rising leverage and eroding equity. The overall trajectory across all three statements points to high financial risk.

Income Statement

28Negative

Balance Sheet

45Neutral

Cash Flow

15Very Negative

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Mar 2023	Dec 2021
Income Statement
Total Revenue	2.16B	2.03B	2.03B	2.23B	3.00B	2.24B
Gross Profit	509.68M	485.49M	490.96M	576.60M	816.92M	471.96M
EBITDA	73.86M	41.76M	174.35M	260.27M	532.05M	178.60M
Net Income	-60.22M	-97.46M	31.71M	80.81M	289.76M	61.85M
Balance Sheet
Total Assets	2.63B	2.44B	2.49B	2.30B	2.36B	2.13B
Cash, Cash Equivalents and Short-Term Investments	510.49M	548.85M	795.20M	869.54M	697.50M	356.42M
Total Debt	849.83M	826.26M	732.94M	553.45M	640.30M	753.73M
Total Liabilities	1.58B	1.39B	1.34B	1.13B	1.40B	1.49B
Stockholders Equity	1.05B	1.04B	1.14B	1.16B	952.94M	633.68M
Cash Flow
Free Cash Flow	-173.16M	-327.33M	-103.70M	231.68M	457.25M	-3.56M
Operating Cash Flow	-44.14M	-59.88M	133.44M	301.39M	503.77M	31.01M
Investing Cash Flow	-161.14M	-302.84M	-258.09M	-47.49M	-81.38M	-39.03M
Financing Cash Flow	91.20M	118.76M	-42.01M	16.66M	-122.37M	66.85M

Winstar Display Co Ltd Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:6916 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:6418	57Neutral	TWD 1.22B	102.96	―	0.98%	18.51%	-34.69%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
TW:3531	48Neutral	TWD 1.26B	32.22	―	2.46%	-24.73%	39.31%
TW:4729	43Neutral	TWD 1.35B	30.07	―	―	3.32%	82.70%
TW:8068	40Underperform	TWD 1.39B	-76.71	―	―	46.43%	-113.09%
TW:3516	39Underperform	TWD 1.35B	46.51	―	0.88%	8.10%	276.21%
TW:6916	39Underperform	TWD 1.25B	-21.22	―	1.51%	19.42%	68.90%

* General Sector Average

Performance Comparison

TW:6916 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:6916	Winstar Display Co Ltd	18.25	0.80	4.58%
TW:3516	ADO Optronic Corp.	22.65	2.90	14.67%
TW:3531	Shian Yih Electronic Industry Co., Ltd	20.30	-1.53	-6.99%
TW:4729	Mildex Optical Inc.	17.05	-3.35	-16.42%
TW:6418	Y-S Electronic Co., Ltd.	38.95	-6.01	-13.36%
TW:8068	Chander Electronics Corp.	17.00	-2.30	-11.92%

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

Winstar Display Co Ltd AI Stock Analysis