Coremax Corp

Coremax Corp has a debt-to-equity ratio of 0.8, indicating a relatively balanced capital structure with a moderate reliance on debt financing. The company's liquidity position is characterized as medium risk, with a current ratio of 1.79, suggesting it can cover its short-term obligations but with limited excess capacity. However, the company's operating cash flow is negative at -564.3 million TWD, and free cash flow is also negative at -540.6 million TWD, signaling potential liquidity constraints.

Profitability metrics show that Coremax Corp has a return on equity (ROE) of 3.2% and a return on assets (ROA) of 1.47%. These figures are below the typical thresholds for strong performance in the specialty chemicals industry, indicating that the company is generating relatively modest returns on its equity and asset base. The operating margin, calculated as operating income of 328.6 million TWD divided by revenue of 6.19 billion TWD, is approximately 5.3%, which is in line with the industry median but leaves room for improvement.

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

Looking ahead, Coremax Corp's growth trajectory appears to be constrained by its current financial performance. The company's net income of 184.3 million TWD and gross profit of 848.7 million TWD suggest a stable but not robust earnings profile. Analysts have assigned a mean recommendation of 1.00, indicating a strong buy, but the company's recent operating cash flow and free cash flow figures raise concerns about its ability to sustain growth without external financing.

The company's risk profile includes a medium liquidity risk and a low dilution risk. The key flag of negative net cash after subtracting total debt highlights the company's reliance on external financing to fund operations. The dilution risk is currently low, as the number of shares outstanding has not changed between basic and diluted shares, and there is no indication of recent or planned share issuances that would dilute existing shareholders.

Recent events and disclosures have not provided significant new information about Coremax Corp's operations or strategic direction. The company's financial statements and analyst estimates suggest a stable but not dynamic business environment. The absence of recent filings or transcripts limits the ability to assess the company's response to market changes or its long-term strategic plans.

Operating income surged 97.5% year-over-year to TWD 328.6 million in FY2026, signaling strong operational recovery.

Revenue grew 51.2% to TWD 6.19 billion in FY2026, demonstrating significant top-line expansion momentum.

Net income improved 9.0% to TWD 184.3 million in FY2026, confirming a return to profitability.

The company maintains a debt-to-equity ratio of 0.8, indicating manageable leverage levels relative to equity.

One analyst rates the stock a strong buy, suggesting positive sentiment from market professionals.

Long-term debt increased to TWD 4.62 billion in FY2026, raising concerns about financial flexibility and solvency.

The company faces high credit risk, posing a significant threat to its financial stability and borrowing costs.

Operating margin of 5.3% and net margin of 3.0% remain below the Specialty Chemicals cohort median.

Revenue TWD 904.4M; Operating income -TWD 18.6M.

• ▍Revenue TWD 904.4M
• ▍Operating income -TWD 18.6M
• ▍Net margin 2.3%

Revenue TWD 997.0M; Operating income TWD 57.4M.

• ▍Revenue TWD 997.0M
• ▍Operating income TWD 57.4M
• ▍Net margin 3.9%

Revenue TWD 1.10B; Operating income TWD 60.0M.

• ▍Revenue TWD 1.10B
• ▍Operating income TWD 60.0M
• ▍Net margin 5.1%

Revenue TWD 1.09B; Operating income TWD 67.6M.

• ▍Revenue TWD 1.09B
• ▍Operating income TWD 67.6M
• ▍Net margin 4.9%

Revenue TWD 6.19B, +51,2% YoY; Operating income +97,5% YoY.

• ▍Revenue TWD 6.19B, +51,2% YoY
• ▍Operating income +97,5% YoY
• ▍Net income +9,0% YoY
• ▍Free cash flow −365,4% YoY
• ▍Net margin 3.0%

Revenue TWD 4.10B, −21,7% YoY; Operating income +277,9% YoY.

• ▍Revenue TWD 4.10B, −21,7% YoY
• ▍Operating income +277,9% YoY
• ▍Net income +268,6% YoY
• ▍Free cash flow +126,2% YoY
• ▍Net margin 4.1%

Revenue TWD 5.23B, −42,4% YoY; Operating income −116,0% YoY.

• ▍Revenue TWD 5.23B, −42,4% YoY
• ▍Operating income −116,0% YoY
• ▍Net income −120,3% YoY
• ▍Free cash flow −2 247,8% YoY
• ▍Net margin -1.9%

Revenue TWD 9.08B, +23,8% YoY; Operating income +8,5% YoY.

• ▍Revenue TWD 9.08B, +23,8% YoY
• ▍Operating income +8,5% YoY
• ▍Net income +6,5% YoY
• ▍Free cash flow −117,6% YoY
• ▍Net margin 5.4%

Revenue TWD 7.34B; Operating income TWD 537.4M.

• ▍Revenue TWD 7.34B
• ▍Operating income TWD 537.4M
• ▍Net margin 6.3%