Ideal Bike Corporation AI Stock Analysis
Ideal Bike Corporation (8933) AI Stock Analysis
Ideal Bike Corporation
(TPEx:8933)
Ideal Bike scores poorly, driven primarily by deeply impaired fundamentals: a 60%+ revenue collapse since 2022, negative gross margin, a widening NT$453 million net loss, rising leverage above 1.0x debt-to-equity and a return to negative free cash flow. Technicals reinforce the weakness, with the shares below all major moving averages and a negative MACD, though oversold RSI and Stochastic readings leave room for a short-lived bounce. Valuation provides no support, as the P/E is negative on loss-making earnings and there is no dividend. Partial mitigants — a still-sizeable revenue base, aggressive capex cuts and a cash burn much smaller than the reported loss — are not enough to offset the high-risk profile until bicycle market demand, pricing and margins stabilize.
Ideal Bike Corporation (8933) vs. SPDR S&P 500 ETF (SPY)
- Market Cap
- TWD 1.30B
- Dividend Yield
- ―
- Average Volume (3M)
- 93.36K
- Price to Earnings (P/E)
- -3.3
- Beta (1Y)
- 0.54
- Revenue Growth
- -14.85%
- EPS Growth
- 27.37%
- Country
- TW
- Employees
- 358
- Sector
- General
- Sector Strength
- 55
- Industry
- Leisure
Ideal Bike Corporation Business Overview & Revenue Model
Company Description
Ideal Bike Corporation is a global enterprise specializing in the production and worldwide distribution of bicycles and their associated components. The company boasts a significant international presence, serving markets across China, Europe, Asia,...
Ideal Bike Corporation Financial Statement Overview
Summary
Fundamentals are in severe distress. Revenue has fallen more than 60% since 2022 to NT$2.19 billion, gross margin has turned negative (-3.0%) and the company posted a NT$452.7 million net loss (-20.6% net margin), with losses widening each year. Shareholders' equity has eroded to NT$1.69 billion while debt rose to NT$1.72 billion, pushing leverage back above 1.0x and ROE to -26.8%. Cash flow also reversed, with 2025 operating cash flow of -NT$49.6 million and free cash flow of -NT$75 million after two positive years. Offsets are modest: a still-meaningful revenue base, working capital being released, sharply reduced capex (NT$25 million), and a cash burn far smaller than the headline loss.
Income Statement
9Very NegativeBalance Sheet
33NegativeCash Flow
24Negative| Breakdown | TTM | Dec 2025 | Dec 2024 | Mar 2024 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.91B | 2.19B | 2.65B | 3.65B | 5.59B | 4.61B |
| Gross Profit | -53.50M | -66.34M | 120.86M | 282.85M | 826.90M | 544.04M |
| EBITDA | -375.92M | -375.67M | -100.97M | -111.06M | 561.37M | 211.40M |
| Net Income | -398.38M | -452.69M | -232.95M | -291.23M | 334.36M | 82.59M |
Balance Sheet | ||||||
| Total Assets | 3.93B | 3.87B | 4.40B | 5.31B | 6.56B | 5.23B |
| Cash, Cash Equivalents and Short-Term Investments | 706.43M | 630.01M | 465.19M | 649.36M | 700.69M | 845.27M |
| Total Debt | 1.69B | 1.72B | 1.48B | 2.23B | 2.39B | 1.66B |
| Total Liabilities | 2.39B | 2.18B | 2.21B | 3.17B | 4.16B | 3.24B |
| Stockholders Equity | 1.53B | 1.69B | 2.19B | 2.14B | 2.40B | 2.00B |
Cash Flow | ||||||
| Free Cash Flow | -57.27M | -75.03M | 290.73M | 188.78M | -961.60M | -571.58M |
| Operating Cash Flow | -53.26M | -49.64M | 312.28M | 222.56M | -861.75M | -521.07M |
| Investing Cash Flow | 19.04M | -39.68M | -7.76M | -43.80M | 13.68M | -7.33M |
| Financing Cash Flow | 243.31M | 223.06M | -560.02M | -267.69M | 673.99M | 625.39M |
Ideal Bike Corporation Peers Comparison
Overall Rating
TW:154164Neutral
TW:223564Neutral
TW:458461Neutral
TW:452845Neutral
TW:452334Underperform- TW:893326Underperform
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| TW:1541 | 64Neutral | TWD 1.52B | 7.17 | ― | 2.59% | -30.14% | 21.52% |
| TW:2235 | 64Neutral | TWD 1.02B | 21.04 | ― | 5.28% | -7.77% | 4.84% |
| TW:4584 | 61Neutral | TWD 1.07B | 20.93 | ― | 5.59% | -16.79% | -50.73% |
| Sector * | 55Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
| TW:4528 | 45Neutral | TWD 1.18B | -20.70 | ― | 1.42% | -3.33% | -515.57% |
| TW:4523 | 34Underperform | TWD 1.49B | 0.84 | ― | 11.51% | 19.47% | ― |
| TW:8933 | 26Underperform | TWD 1.31B | -3.28 | ― | ― | -14.85% | 27.37% |
* General Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| TW:8933 | Ideal Bike Corporation | 4.00 | -1.97 | -33.00% | |
| TW:1541 | Chang Type Industrial Co., Ltd. | 19.30 | -5.25 | -21.38% | |
| TW:2235 | I Yuan Precision Industrial Co. Ltd. | 28.40 | -3.86 | -11.96% | |
| TW:4523 | Everbrite Technology Co., Ltd. | 22.95 | -4.42 | -16.14% | |
| TW:4528 | Chian Hsing Forging Industrial Co., Ltd. | 14.05 | -3.05 | -17.83% | |
| TW:4584 | Jufan Industrial Co., Ltd. | 35.80 | -12.63 | -26.08% |
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