J-Star Holding Co., Ltd. (YMAT)
NASDAQ:YMAT
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J-Star Holding Co., Ltd.
(NASDAQ:YMAT)
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Rating:56Neutral
Price Target:
$0.43
▼(-37.25% Downside)
Action:DowngradedDate:01/27/26
The score is driven primarily by mixed fundamentals: a stable balance sheet and improved gross margin are offset by declining revenue and weak/negative cash flow. Technicals are the biggest near-term headwind with a clear downtrend below major moving averages and negative MACD, despite oversold readings. Valuation is moderately supportive with a P/E around 11.35, but no dividend data is available.
Positive Factors
Improved Gross Margin
A sharp gross margin uplift to 32.06% indicates lasting improvements in cost structure and product mix, giving management room to invest in R&D and branded products. Sustained higher gross margins support profitability resilience even if top-line growth is uneven.
Negative Factors
Weak Cash Generation
Persistent negative operating and free cash flow reduce internal funding for capex, automation and U.S. factory buildout, increasing reliance on external financing or equity issuance. Continued cash weakness can constrain execution and limit optionality over coming quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Improved Gross Margin
A sharp gross margin uplift to 32.06% indicates lasting improvements in cost structure and product mix, giving management room to invest in R&D and branded products. Sustained higher gross margins support profitability resilience even if top-line growth is uneven.
Read all positive factors
J-Star Holding Co., Ltd. (YMAT) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$5.41M
Dividend YieldN/A
Average Volume (3M)464.70K
Price to Earnings (P/E)8.5
Beta (1Y)1.69
Revenue Growth11.79%
EPS Growth-65.99%
CountryUS
Employees65
SectorBasic Materials
Sector Strength58
IndustryChemicals - Specialty
Share Statistics
EPS (TTM)N/A
Shares Outstanding17,200,386
10 Day Avg. Volume51,346
30 Day Avg. Volume464,702
Financial Highlights & Ratios
PEG Ratio-2.85
Price to Book (P/B)5.34
Price to Sales (P/S)3.95
P/FCF Ratio-22.46
Enterprise Value/Market Cap2.75
Enterprise Value/Revenue0.85
Enterprise Value/Gross Profit2.64
Enterprise Value/Ebitda7.97
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. manufactures and trades in bicycles, sports accessories, and carbon fiber composite products in Taiwan and internationally. It offers bicycles parts of sports bicycles and electric bicycles; paddle rackets for use in tenni...
How the Company Makes Money
J-Star Holding Co., Ltd. generates revenue through several key streams. Primarily, it earns income from its technology arm by developing and selling software solutions and digital products to various industries. The manufacturing sector contribute...
J-Star Holding Co., Ltd. Financial Statement Overview
Summary
Income Statement
65
Positive
Balance Sheet
70
Positive
Cash Flow
50
Neutral
| Breakdown | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 17.56M | 23.78M | 39.38M | 31.33M | 22.18M |
| Gross Profit | 5.63M | 2.92M | 9.08M | 8.99M | 7.36M |
| EBITDA | 1.87M | 2.36M | 3.54M | 1.61M | 2.78M |
| Net Income | 1.10M | 1.42M | 124.31K | -132.90K | 1.11M |
Balance Sheet | |||||
| Total Assets | 24.38M | 21.09M | 40.74M | 40.43M | 28.59M |
| Cash, Cash Equivalents and Short-Term Investments | 649.11K | 559.46K | 2.95M | 3.12M | 2.11M |
| Total Debt | 10.20M | 8.05M | 11.16M | 7.27M | 4.60M |
| Total Liabilities | 11.38M | 9.24M | 30.84M | 31.15M | 19.37M |
| Stockholders Equity | 13.00M | 11.85M | 9.90M | 9.27M | 9.22M |
Cash Flow | |||||
| Free Cash Flow | -3.09M | 6.93M | 2.82M | -1.82M | -421.54K |
| Operating Cash Flow | -3.06M | 7.04M | 4.04M | -539.22K | 237.73K |
| Investing Cash Flow | 1.81M | -8.57M | -2.02M | -895.93K | -1.24M |
| Financing Cash Flow | 1.41M | -780.44K | -2.03M | 2.92M | 860.47K |
J-Star Holding Co., Ltd. Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
61 Neutral | $68.53M | -60.48 | 4.98% | ― | 0.18% | -54.25% | |
56 Neutral | $5.41M | 8.49 | 8.89% | ― | 11.79% | -65.99% | |
53 Neutral | $463.79M | -19.47 | 0.26% | ― | 675.75% | 42.00% | |
53 Neutral | $68.64M | -4.53 | 71.64% | ― | 11013.00% | 39.85% | |
43 Neutral | $7.75M | -0.05 | -43.37% | ― | 61.85% | 49.02% |
* Basic Materials Sector Average
YMAT
J-Star Holding Co., Ltd.
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-92.30%
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J-Star Holding Co., Ltd. Corporate Events
J-Star Files Complaints Against PwC Over Alleged IPO Misconduct
Jan 22, 2026
On January 22, 2026, J-Star Holding Co., Ltd. disclosed that it has filed formal complaints against PwC with the American Institute of Certified Public Accountants and the Public Company Accounting Oversight Board, alleging that PwC misrepresented...
J-Star Signs MOU to Supply Advanced Resins for Next-Generation Battery Applications
Jan 14, 2026
On January 14, 2026, J-Star Holding Co., Ltd. announced it had signed a memorandum of understanding with Patriot Technology Responsibilities (PSSB), an industrial solutions provider that owns a proprietary, patented next-generation solid-state bat...
J-Star Holding to Exit Most China Operations and Shift Manufacturing Focus to United States
Jan 6, 2026
On January 6, 2026, J-Star Holding Co., Ltd. announced a strategic plan to substantially exit its China operations and redirect resources to expansion in the United States, automation-driven manufacturing, and innovation-led growth, aligning with ...
J-Star’s LITZMO Launches ER-01, a Carbon Fiber Fat-Tire E-Assist Bike for Urban Riders
Dec 23, 2025
On December 23, 2025, J-Star Holding Co., Ltd. announced that its urban mobility brand LITZMO has introduced the ER-01, which it describes as one of the world’s first carbon fiber fat-tire electric assist bicycles and the brand’s first...
J-Star Holding Adopts 2025 Equity Incentive Plan and Opts for Cayman Governance Flexibility on Nasdaq
Dec 22, 2025
On December 11, 2025, J-Star Holding Co., Ltd.’s board of directors approved and made effective a 2025 Equity Incentive Plan that authorizes the company to issue up to 3,354,075 Class A ordinary shares through a range of equity awards, inclu...
J-Star Holding Posts Strong 1H 2025 Revenue Growth but Flat Profit as It Repositions Around Branded Composites and U.S. Expansion
Dec 18, 2025
On December 18, 2025, J-Star Holding Co., Ltd. reported unaudited results for the first half of 2025, showing revenue of $10.6 million for the six months ended June 30, 2025, up 30.7% year on year, driven by roughly fivefold growth in rackets and ...
J-Star Holding Receives Nasdaq Notification for Bid Price Deficiency
Dec 16, 2025
On December 12, 2025, J-Star Holding Co., Ltd. received a notification from Nasdaq regarding a deficiency in meeting the minimum bid price requirement of $1 per share for its Class A ordinary shares. The company has been given a compliance period ...
J-Star Holding Co., Ltd. Approves Share Capital Restructuring
Dec 11, 2025
On December 9, 2025, J-Star Holding Co., Ltd. held a General Meeting where shareholders approved five proposals, including a reorganization of the company’s share capital and the adoption of a dual class share structure. This restructuring i...
J-Star Holding Schedules Shareholder Meeting for Major Capital Restructuring
Nov 12, 2025
J-Star Holding Co., Ltd. announced a general meeting of shareholders scheduled for December 9, 2025, where several key resolutions will be voted on. These include a reorganization of the company’s share capital, an increase in authorized sha...
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.