Force Mos Technology Co Ltd

The company maintains a strong liquidity position, with a current ratio of 5.75, indicating that it has more than five times the current assets to cover its current liabilities. Its cash and equivalents amount to TWD 252,089,000, which is a significant portion of its total assets of TWD 898,758,000. The debt-to-equity ratio is low at 0.02, suggesting minimal reliance on debt financing and a conservative capital structure.

Profitability metrics show mixed results. The company reported a net income of TWD 15,350,000, but it also recorded an operating loss of TWD -7,456,000, indicating that operational costs exceeded revenues. Return on equity (ROE) is at 2.03%, and return on assets (ROA) is 1.71%, both below the typical performance thresholds for the semiconductor industry. Gross profit of TWD 54,974,000 represents a margin of approximately 28.1%, which is in line with industry norms but does not fully offset the operating loss.

The company's revenue is concentrated in a single business segment, as no segmental breakdown is provided in the available data. Geographically, the company's exposure is not disclosed in the financial snapshot, but the absence of segmental or geographic diversification may pose a concentration risk.

Looking ahead, the company is expected to face challenges in the near term. Analysts have assigned a mean recommendation of 2.00, indicating a "buy" rating, but the last actual EPS was -5.26 TWD, while the mean EPS estimate is 0.19 TWD. This suggests a potential improvement in earnings, but the current operating cash flow is negative at TWD -14,678,000, which could limit the company's ability to fund operations without external financing.

Risk factors include the company's negative operating income and operating cash flow, which could affect its ability to maintain operations without additional capital. However, the risk assessment indicates low dilution and liquidity risks, with no immediate filing-based flags detected. The company has not issued additional shares recently, and the diluted and basic shares outstanding are the same, suggesting no near-term dilution pressure.

Recent events include the publication of the latest financial data, which shows a net income despite an operating loss. The company's free cash flow is positive at TWD 20,675,000, which may be used for debt repayment or reinvestment. No recent filings or transcripts are available to provide further insight into the company's strategic direction or operational performance.

Debt-to-equity ratio of 0.02 is significantly lower than the cohort median of 0.24, suggesting a conservative capital structure.

Revenue grew 10.4% year-over-year from FY-2 to FY-1, demonstrating top-line expansion despite recent operating losses.

The company maintains a positive gross profit of 203.3 million TWD in FY0, preserving core production margins.

Dilution and liquidity risks are assessed as low, providing stability in shareholder value and market trading conditions.

Credit risk is flagged as high, posing potential challenges for financing and counterparty confidence in the company.

Return on invested capital is negative at -0.96%, indicating the company is destroying value on deployed capital.

Revenue TWD 241.4M, +23,3% YoY; Operating income +13,1% YoY.

• ▍Revenue TWD 241.4M, +23,3% YoY
• ▍Operating income +13,1% YoY
• ▍Net income +18,7% YoY
• ▍Net margin -7.0%

Revenue TWD 249.4M, +16,8% YoY; Operating income +15,5% YoY.

• ▍Revenue TWD 249.4M, +16,8% YoY
• ▍Operating income +15,5% YoY
• ▍Net income +37,6% YoY
• ▍Free cash flow +44,1% YoY
• ▍Net margin -10.7%

Revenue TWD 899.1M, +10,3% YoY; Operating income −50,0% YoY.

• ▍Revenue TWD 899.1M, +10,3% YoY
• ▍Operating income −50,0% YoY
• ▍Net income −123,6% YoY
• ▍Free cash flow −22,4% YoY
• ▍Net margin -19.2%