Iron Force Industrial Co Ltd
Iron Force Industrial Co Ltd designs, develops, and produces automotive components, primarily serving the automobile manufacturing sector.
Business. Iron Force Industrial Co Ltd (2228.TW) is a manufacturer of auto, truck, and motorcycle parts operating within the Consumer Cyclicals sector. The company is headquartered in Taiwan and is primarily listed on the Taiwan Stock Exchange. Specific details regarding its operating segments and geographic revenue mix are not available.
Analyst recommendations
4 analysts · consensus HoldAt a glance
What drives this business
The watch-list the newsroom runs for this company — derived from its sector path, sharpened layer by layer. Not investment advice.
News & coverage
0Sector rotation
Developing storylines
Analysis
AI analysisOpportunity
Upcoming catalysts
Scheduled public events. Informational only — not investment advice.
- Macro
- Rate decisionBank of England rate decision (press conf.)2026-08-06 · GB
- Rate decisionReserve Bank of Australia rate decision (press conf.)2026-08-12 · AU
- Rate decisionNorges Bank rate decision (press conf.)2026-08-20 · NO
- Rate decisionSveriges Riksbank rate decision (press conf.)2026-09-03 · SE
- Rate decisionBank of Canada rate decision (press conf.)2026-09-09 · CA
- Rate decisionEuropean Central Bank rate decision (press conf.)2026-09-10 · EU
- Macro & political
- ElectionSE Swedish Election2026-09-14 · SE
- ElectionUS U.S. Midterms2026-11-03 · US
- ElectionFR French Legislative2027-06-01 · FR
Pre-earnings brief
Signals & dispatch
Composite-score breakdown
Synthesis
Iron Force Industrial Co Ltd (2228.TW) is a manufacturer of auto, truck, and motorcycle parts operating within the Consumer Cyclicals sector. The company is headquartered in Taiwan and is primarily listed on the Taiwan Stock Exchange. Specific details regarding its operating segments and geographic revenue mix are not available.
Iron Force Industrial Co Ltd maintains a strong liquidity position, with a current ratio of 3.06 and cash and equivalents amounting to TWD 1,486,755,000. The company's debt-to-equity ratio is 0.1, indicating a conservative capital structure with minimal reliance on debt financing.
Profitability metrics show a return on equity of 2.51% and a return on assets of 1.75%. These figures are below the industry median for ROE and ROA in the automobile components sector, suggesting that the company is underperforming in terms of capital efficiency and asset utilization.
The company's revenue is concentrated in the automobile components segment, with no disclosed geographic diversification. This concentration increases exposure to sector-specific risks, such as supply chain disruptions or shifts in automotive demand.
Looking ahead, Iron Force Industrial Co Ltd is projected to maintain stable revenue growth, with no significant changes expected in the next fiscal year. The company's operating cash flow of TWD 470,349,000 supports its capital expenditure of TWD -71,579,000, indicating a focus on maintaining rather than expanding operations.
The company's risk profile is characterized by low liquidity and dilution risks. No immediate filing-based liquidity or dilution flags were detected, and the dilution potential remains low. The company has not issued additional shares recently, and no dilutive events are currently anticipated.
Recent events include analyst estimates that suggest a mean price target of TWD 100.00, with a median and high price target also at TWD 100.00. Analyst recommendations are mixed, with one "buy" and three "hold" ratings, indicating a cautious outlook.
- Iron Force Industrial Co Ltd has a strong liquidity position with a current ratio of 3.06 and significant cash reserves.
- The company's profitability metrics, including ROE and ROA, are below the industry median, indicating underperformance in capital efficiency.
- Revenue is concentrated in the automobile components segment, with no geographic diversification disclosed.
- Analysts have a cautious outlook, with a mean recommendation of 2.75 and a median price target of TWD 100.00.
- The company's risk profile is low, with no immediate liquidity or dilution concerns.
Bull / Bear case
Generated · model-assistedOperating and net margins exceed 9%, ranking above the 75th percentile of the auto parts cohort.
Cash conversion ratio of 4.19 is best-in-class, significantly outperforming the cohort median of 1.37.
Debt-to-equity ratio of 0.1 is well below the cohort median of 0.41, indicating low leverage.
Analysts project 20.8% upside to a consensus price target of 100.0 TWD from current levels.
The company faces low dilution, liquidity, and credit risks according to internal risk flag assessments.
Free cash flow turned negative at -304.6 million TWD in the latest period, reversing prior generation.
Four-year revenue CAGR is negative 4.2%, highlighting a persistent long-term decline in sales.
In focus — financials by report
Revenue TWD 1.23B, −4,3% YoY.
- ▍Revenue TWD 1.23B, −4,3% YoY
Revenue TWD 1.19B, −4,3% YoY; Operating income −55,8% YoY.
- ▍Revenue TWD 1.19B, −4,3% YoY
- ▍Operating income −55,8% YoY
- ▍Net income −56,3% YoY
- ▍Free cash flow −65,6% YoY
- ▍Net margin 8.0%
Revenue TWD 1.25B, −8,1% YoY; Operating income −30,1% YoY.
- ▍Revenue TWD 1.25B, −8,1% YoY
- ▍Operating income −30,1% YoY
- ▍Net income −34,4% YoY
- ▍Free cash flow −34,1% YoY
- ▍Net margin 7.2%
Revenue TWD 1.23B, +2,4% YoY; Operating income +3,8% YoY.
- ▍Revenue TWD 1.23B, +2,4% YoY
- ▍Operating income +3,8% YoY
- ▍Net income −22,5% YoY
- ▍Free cash flow −6,7% YoY
- ▍Net margin 7.1%
Revenue TWD 1.28B; Operating income TWD 139.9M.
- ▍Revenue TWD 1.28B
- ▍Operating income TWD 139.9M
- ▍Net margin 11.4%
Revenue TWD 1.24B; Operating income TWD 181.4M.
- ▍Revenue TWD 1.24B
- ▍Operating income TWD 181.4M
- ▍Net margin 17.6%
Revenue TWD 1.36B; Operating income TWD 159.1M.
- ▍Revenue TWD 1.36B
- ▍Operating income TWD 159.1M
- ▍Net margin 10.0%
Revenue TWD 1.20B; Operating income TWD 118.0M.
- ▍Revenue TWD 1.20B
- ▍Operating income TWD 118.0M
- ▍Net margin 9.3%
Revenue TWD 4.95B, −1,7% YoY; Operating income −25,1% YoY.
- ▍Revenue TWD 4.95B, −1,7% YoY
- ▍Operating income −25,1% YoY
- ▍Net income −42,8% YoY
- ▍Free cash flow −173,2% YoY
- ▍Net margin 8.4%
Revenue TWD 5.04B, +3,0% YoY; Operating income −6,8% YoY.
- ▍Revenue TWD 5.04B, +3,0% YoY
- ▍Operating income −6,8% YoY
- ▍Net income +42,3% YoY
- ▍Free cash flow +90,5% YoY
- ▍Net margin 14.5%
Revenue TWD 4.89B, +11,9% YoY; Operating income +47,1% YoY.
- ▍Revenue TWD 4.89B, +11,9% YoY
- ▍Operating income +47,1% YoY
- ▍Net income +13,5% YoY
- ▍Free cash flow −41,0% YoY
- ▍Net margin 10.5%
Revenue TWD 4.37B, +18,9% YoY; Operating income +140,1% YoY.
- ▍Revenue TWD 4.37B, +18,9% YoY
- ▍Operating income +140,1% YoY
- ▍Net income +89,7% YoY
- ▍Free cash flow +75,2% YoY
- ▍Net margin 10.3%
Valuation TTM
Revenue by segment
Business relationships
Supply chain
Peer comparison
Market position
Stress test
Predictor forecast
| Metric | Our forecast | Guidance | Consensus |
|---|---|---|---|
| EPS | —no estimate | —no estimate | 5,94 |
| Revenue | —no estimate | —no estimate | 5,1B TWD |
| Operating income | —no estimate | —no estimate | 491,5M TWD |
Options
Short squeeze
Earnings-call key lines
Consensus distribution
sell-side coverageEstimate revisions
consensus EPS · 26-week trendSell-side observations
Themes
ESG
Risk factors
- No immediate filing-based liquidity or dilution flags were detected.
Benchmarks vs cohort
Corporate actions / M&A
FX exposure
Comparable transactions
Derivatives & instruments
Actions
Ask Handelsavisen
- Market data
- Market data cache
- Issuer disclosures
- Public news
- Earnings transcripts
- Consensus estimates
- ESG data
- Dilution Ratio(shares_outstanding_diluted - shares_outstanding_basic) / shares_outstanding_basic
- Net Cashcash_and_equivalents + short_term_investments - short_term_debt - long_term_debt
- Capex To Revenuecapital_expenditure / revenue
- Return On Equitynet_income / total_equity
- Debt To Equity(short_term_debt + long_term_debt) / total_equity
- Cash Conversion Ratiooperating_cash_flow / net_income
- Iron Force Industrial Co Ltd Market data — financials · 2026-05-26
- Iron Force Industrial Co Ltd Market data — analyst estimates · 2026-05-26