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J-Star Holding Co., Ltd.
(NASDAQ:YMAT)
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Rating:45Neutral
Price Target:
$2.50
▲(32.98% Upside)
Action:Reiterated
Date:10/23/26
The score is held down primarily by weak financial performance—sharp revenue contraction, a large loss, negative equity, and recent cash burn. Technicals provide only partial support with improving near-term trends but a still-weak longer-term trend. Valuation is constrained by negative earnings (negative P/E) and no dividend yield data.
Positive Factors
Balance-sheet repair
The debt-to-equity conversion and shareholder-debt cancellation materially improved the capital structure, restoring positive equity and reducing leverage. A larger capital cushion and lower debt burden should improve financial flexibility as management funds the U.S. growth strategy.
Negative Factors
Revenue and profitability deterioration
The sharp revenue contraction and swing to a substantial loss indicate that the company lacks stable earnings power during its transition. Even if the decline is partly strategic, weak scale and deeply negative margins can constrain reinvestment and make recovery dependent on successful execution.
Read all positive and negative factors
Positive Factors
Negative Factors
Balance-sheet repair
The debt-to-equity conversion and shareholder-debt cancellation materially improved the capital structure, restoring positive equity and reducing leverage. A larger capital cushion and lower debt burden should improve financial flexibility as management funds the U.S. growth strategy.
Read all positive factors
J-Star Holding Co., Ltd. (YMAT) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$8.50M
Dividend YieldN/A
Average Volume (3M)10.11M
Price to Earnings (P/E)―
Beta (1Y)3.01
Revenue GrowthN/A
EPS GrowthN/A
CountryUS
Employees65
SectorGeneral
Sector StrengthN/A
IndustryChemicals - Specialty
Share Statistics
EPS (TTM)N/A
Shares Outstanding2,790,667
10 Day Avg. Volume14,665,362
30 Day Avg. Volume10,108,702
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)-1.18
Price to Sales (P/S)0.81
P/FCF Ratio-2.26
Enterprise Value/Market Cap2.57M
Enterprise Value/Revenue1.24M
Enterprise Value/Gross Profit3.87M
Enterprise Value/Ebitda11.68M
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
J-Star Holding Co., Ltd. Business Overview & Revenue Model
Company Description
J-Star Holding Co., Ltd., established in 1968 and headquartered in Taichung, Taiwan, is a global manufacturer and distributor specializing in bicycles, various sports accessories, and advanced carbon fiber composite products. The company's offerin...
J-Star Holding Co., Ltd. Financial Statement Overview
Summary
Income Statement
22
Negative
Balance Sheet
18
Very Negative
Cash Flow
28
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 17.56M | 9.93M | 17.56M | 23.78M | 39.38M | 31.33M |
| Gross Profit | 5.63M | 5.37M | 5.63M | 2.92M | 9.08M | 8.99M |
| EBITDA | 1.87M | -19.41M | 1.87M | 2.36M | 3.54M | 1.61M |
| Net Income | 1.10M | -20.17M | 1.10M | 1.42M | 124.31K | -132.90K |
Balance Sheet | ||||||
| Total Assets | 24.38M | 7.16M | 24.38M | 21.09M | 40.74M | 40.43M |
| Cash, Cash Equivalents and Short-Term Investments | 649.11K | 552.80K | 649.11K | 559.46K | 2.95M | 3.12M |
| Total Debt | 10.20M | 12.72M | 10.20M | 8.05M | 11.16M | 7.27M |
| Total Liabilities | 11.38M | 13.93M | 11.38M | 9.24M | 30.84M | 31.15M |
| Stockholders Equity | 13.00M | -6.78M | 13.00M | 11.85M | 9.90M | 9.27M |
Cash Flow | ||||||
| Free Cash Flow | -3.08M | -3.55M | -3.09M | 6.93M | 2.82M | -1.82M |
| Operating Cash Flow | -3.06M | -3.16M | -3.06M | 7.04M | 4.04M | -539.22K |
| Investing Cash Flow | 1.81M | -3.52M | 1.81M | -8.57M | -2.02M | -895.93K |
| Financing Cash Flow | 1.41M | 6.59M | 1.41M | -780.44K | -2.03M | 2.92M |
J-Star Holding Co., Ltd. Technical Analysis
Positive
1.88
Price Trends
1.73
Positive
2.11
Positive
2.28
Negative
Market Momentum
0.13
Negative
54.80
Neutral
39.04
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For YMAT, the sentiment is Positive. The current price of 1.88 is above the 20-day moving average (MA) of 1.73, above the 50-day MA of 1.73, and below the 200-day MA of 2.28, indicating a neutral trend. The MACD of 0.13 indicates Negative momentum. The RSI at 54.80 is Neutral, neither overbought nor oversold. The STOCH value of 39.04 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for YMAT.
J-Star Holding Co., Ltd. Risk Analysis
J-Star Holding Co., Ltd. disclosed 67 risk factors in its most recent earnings report. J-Star Holding Co., Ltd. reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
J-Star Holding Co., Ltd. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $627.51M | 6.98 | 19.47% | 3.52% | 1.06% | ― | |
57 Neutral | $201.58M | 26.47 | 4.64% | 1.38% | -7.88% | -20.75% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
52 Neutral | $79.97M | -25.55 | -8.12% | 2.35% | -4.66% | -201.32% | |
50 Neutral | $71.13M | -58.24 | -1.60% | 0.53% | 7.70% | -139.19% | |
50 Neutral | $123.25M | -29.11 | -5.25% | 1.54% | -34.20% | -59.08% | |
45 Neutral | $8.50M | -1.72 | -648.50% | ― | ― | ― |
* General Sector Average
YMAT
J-Star Holding Co., Ltd.
2.12
-3.13
-59.62%
CMT
Core Molding Technologies
22.78
4.48
24.48%
FSI
Flexible Solutions International
6.26
-2.79
-30.83%
NTIC
Northern Technologies International
7.49
-0.16
-2.10%
MATV
Mativ Holdings
11.37
0.89
8.47%
ACNT
Ascent Industries
13.68
1.48
12.13%
J-Star Holding Co., Ltd. Corporate Events
J-Star Turns Equity Positive as It Exits China OEM and Pivots to U.S. Drone Market
Oct 23, 2026
On October 23, 2026, J-Star Holding Co., Ltd. reported unaudited interim results for the six months ended June 30, 2026, showing operating revenue of $6.8 million, down from $10.6 million a year earlier, as it intentionally wound down legacy OEM a...
J-Star Holding Calls October 29 Meetings to Overhaul Share Capital and Voting Structure
Oct 9, 2026
J-Star Holding Co., Ltd. has called a class meeting of holders of its Class A ordinary shares and an extraordinary general meeting of shareholders, both scheduled for October 29, 2026 in Taichung, Taiwan. These meetings will consider major changes...
J-Star CEO Relocates to U.S. as Carbon Fiber Specialist Accelerates Post-China Growth Strategy
Sep 29, 2026
J-Star Holding Co., Ltd., a Taiwan-based producer of carbon fiber and composite materials with a legacy in high-performance cycling components, is pivoting its expertise into higher-value sectors such as healthcare, automotive, and advanced consum...
J-Star Holding Sets Up $35 Million Equity Facility With Hudson Global Ventures
Sep 28, 2026
On September 24, 2026, J-Star Holding Co., Ltd. entered into a definitive equity purchase agreement with Hudson Global Ventures, LLC, giving J-Star the right, but not the obligation, to sell up to $35 million of its Class A ordinary shares over a ...
J-Star Holding Regains Nasdaq Compliance, Avoids Delisting Risk
Aug 3, 2026
On July 30, 2026, J-Star Holding Co., Ltd. received formal notice from Nasdaq that it had regained compliance with the exchange’s minimum bid price rule, following a period beginning December 12, 2025 when its shares traded below $1 for 30 c...
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.