Hiwin Technologies Corp

Hiwin Technologies Corp maintains a conservative capital structure with a debt-to-equity ratio of 0.28, indicating a relatively low reliance on debt financing. The company's liquidity position is characterized as medium, with a current ratio of 2.17, suggesting it has sufficient short-term assets to cover its short-term liabilities. However, the company's net cash position is negative after subtracting total debt, signaling potential liquidity constraints.

In terms of profitability, Hiwin's return on equity (ROE) is 1.65%, and its return on assets (ROA) is 1.1%, both of which are below the industry median for Industrial Machinery & Equipment firms. This suggests that the company is underperforming relative to its peers in terms of generating returns from its equity and asset base.

The company's revenue is concentrated in a single business segment, with no disclosed geographic diversification. This lack of diversification increases exposure to regional economic fluctuations and sector-specific risks. The absence of segmental or geographic breakdowns in the financial data limits the ability to assess the company's exposure to different markets or product lines.

Hiwin's growth trajectory appears modest, with no disclosed revenue growth rates or future projections. The company's operating cash flow of TWD 2,053,298,000 and free cash flow of TWD 413,316,000 indicate a positive cash flow generation, but the capital expenditure of TWD -1,810,832,000 suggests ongoing investment in infrastructure and operations. Analysts have provided a mean price target of TWD 353.53 and a median price target of TWD 390.00, with a mean recommendation of 2.16, indicating a generally positive outlook.

The company's risk profile is marked by a low dilution potential and a medium liquidity risk. The risk assessment highlights the negative net cash position after subtracting total debt as a key flag, which could impact the company's ability to meet short-term obligations without external financing. No recent filings or transcripts have been provided to assess the company's strategic direction or operational developments.

Hiwin achieved a best-in-class cash conversion score of 3.53, vastly outperforming the 0.95 industry median in capital efficiency.

Free cash flow surged 235.5% year-over-year to TWD 319 million in FY2026, signaling a robust recovery in cash generation capabilities.

Nineteen analysts maintain a buy recommendation for Hiwin, suggesting broad institutional confidence in the company's long-term strategic positioning.

Net income plummeted 18.9% annually over four years, reflecting a severe and sustained deterioration in bottom-line profitability trends.

Hiwin faces high credit risk, raising concerns about its ability to meet financial obligations despite recent free cash flow improvements.

Revenue TWD 6.38B, +9,3% YoY; Operating income +50,6% YoY.

• ▍Revenue TWD 6.38B, +9,3% YoY
• ▍Operating income +50,6% YoY
• ▍Net income +20,0% YoY
• ▍Free cash flow +67,8% YoY
• ▍Net margin 9.1%

Revenue TWD 6.50B, +2,0% YoY; Operating income −0,9% YoY.

• ▍Revenue TWD 6.50B, +2,0% YoY
• ▍Operating income −0,9% YoY
• ▍Net income +39,9% YoY
• ▍Free cash flow +282,9% YoY
• ▍Net margin 7.1%

Revenue TWD 6.00B, −5,2% YoY; Operating income −40,0% YoY.

• ▍Revenue TWD 6.00B, −5,2% YoY
• ▍Operating income −40,0% YoY
• ▍Net income −32,9% YoY
• ▍Free cash flow −4,2% YoY
• ▍Net margin 7.4%

Revenue TWD 5.93B, −4,2% YoY; Operating income −24,0% YoY.

• ▍Revenue TWD 5.93B, −4,2% YoY
• ▍Operating income −24,0% YoY
• ▍Net income −76,8% YoY
• ▍Free cash flow −91,7% YoY
• ▍Net margin 2.3%

Revenue TWD 5.84B; Operating income TWD 418.8M.

• ▍Revenue TWD 5.84B
• ▍Operating income TWD 418.8M
• ▍Net margin 8.3%

Revenue TWD 6.38B; Operating income TWD 318.2M.

• ▍Revenue TWD 6.38B
• ▍Operating income TWD 318.2M
• ▍Net margin 5.2%

Revenue TWD 6.33B; Operating income TWD 684.5M.

• ▍Revenue TWD 6.33B
• ▍Operating income TWD 684.5M
• ▍Net margin 10.5%

Revenue TWD 6.18B; Operating income TWD 655.8M.

• ▍Revenue TWD 6.18B
• ▍Operating income TWD 655.8M
• ▍Net margin 9.4%

Revenue TWD 24.26B, −0,5% YoY; Operating income −20,2% YoY.

• ▍Revenue TWD 24.26B, −0,5% YoY
• ▍Operating income −20,2% YoY
• ▍Net income −22,6% YoY
• ▍Free cash flow +235,5% YoY
• ▍Net margin 6.3%

Revenue TWD 24.39B, −1,0% YoY; Operating income −22,3% YoY.

• ▍Revenue TWD 24.39B, −1,0% YoY
• ▍Operating income −22,3% YoY
• ▍Net income −3,1% YoY
• ▍Free cash flow +58,7% YoY
• ▍Net margin 8.1%

Revenue TWD 24.63B, −16,0% YoY; Operating income −52,4% YoY.

• ▍Revenue TWD 24.63B, −16,0% YoY
• ▍Operating income −52,4% YoY
• ▍Net income −54,6% YoY
• ▍Free cash flow −119,2% YoY
• ▍Net margin 8.3%

Revenue TWD 29.31B, +7,5% YoY; Operating income +20,8% YoY.

• ▍Revenue TWD 29.31B, +7,5% YoY
• ▍Operating income +20,8% YoY
• ▍Net income +26,8% YoY
• ▍Free cash flow +22,2% YoY
• ▍Net margin 15.3%