Iron Force Industrial Co Ltd (2228) - Cash Flow Conversion Efficiency

Latest as of September 2025: 0.080x

Based on the latest financial reports, Iron Force Industrial Co Ltd (2228) has a cash flow conversion efficiency ratio of 0.080x as of September 2025. Cash flow conversion efficiency measures how effectively a company's net assets (equity) generate operating cash flow. It is calculated by dividing operating cash flow (NT$378.85 Million ≈ $11.94 Million USD) by net assets (NT$4.74 Billion ≈ $149.23 Million USD). A higher ratio indicates that the company is more efficient at using its equity to generate cash flow from its core operations. See Iron Force Industrial Co Ltd defensive interval ratio to measure how many days the company can operate on defensive assets alone.

Iron Force Industrial Co Ltd - Cash Flow Conversion Efficiency Trend (2009–2024)

This chart illustrates how Iron Force Industrial Co Ltd's cash flow conversion efficiency has evolved over time, based on yearly financial data.

Iron Force Industrial Co Ltd Competitors by Cash Flow Conversion Efficiency

The table below lists competitors of Iron Force Industrial Co Ltd ranked by their cash flow conversion efficiency.

Company	Cash Flow Conversion Efficiency
Export Inv TA:EXPO	0.037x
ANGI Homeservices Inc NASDAQ:ANGI	-0.020x
ACP Holdings Acquisition Corp. Class A Ordinary Shares NASDAQ:ACGC	N/A
ButOne Information Corp XiAn SHG:600455	0.433x
First Internet Bancorp NASDAQ:INBK	0.209x
Cantor Equity Partners I, Inc. Class A Ordinary Shares NASDAQ:CEPO	N/A
TuanChe ADR NASDAQ:TC	-0.641x
Kartonsan Karton Sanayi ve Ticaret AS IS:KARTN	-0.074x

Annual Cash Flow Conversion Efficiency for Iron Force Industrial Co Ltd (2009–2024)

The table below shows the annual cash flow conversion efficiency of Iron Force Industrial Co Ltd from 2009 to 2024. For the full company profile with market capitalisation and key ratios, see 2228 market cap.

Year	Net Assets	Operating Cash Flow	Cash Flow Conversion Efficiency	Change
2024-12-31	NT$5.25 Billion ≈ $165.33 Million	NT$474.66 Million ≈ $14.95 Million	0.090x	-69.48%
2023-12-31	NT$4.36 Billion ≈ $137.48 Million	NT$1.29 Billion ≈ $40.74 Million	0.296x	+527.65%
2022-12-31	NT$4.16 Billion ≈ $131.18 Million	NT$196.58 Million ≈ $6.19 Million	0.047x	-43.17%
2021-12-31	NT$3.80 Billion ≈ $119.59 Million	NT$315.36 Million ≈ $9.94 Million	0.083x	+25.93%
2020-12-31	NT$3.68 Billion ≈ $115.99 Million	NT$242.90 Million ≈ $7.65 Million	0.066x	-61.68%
2019-12-31	NT$3.94 Billion ≈ $124.28 Million	NT$679.17 Million ≈ $21.40 Million	0.172x	+20.59%
2018-12-31	NT$3.76 Billion ≈ $118.58 Million	NT$537.40 Million ≈ $16.93 Million	0.143x	-25.11%
2017-12-31	NT$3.75 Billion ≈ $118.09 Million	NT$714.62 Million ≈ $22.51 Million	0.191x	-10.09%
2016-12-31	NT$3.66 Billion ≈ $115.24 Million	NT$775.65 Million ≈ $24.44 Million	0.212x	-8.42%
2015-12-31	NT$3.34 Billion ≈ $105.11 Million	NT$772.51 Million ≈ $24.34 Million	0.232x	+15.04%
2014-12-31	NT$2.60 Billion ≈ $81.82 Million	NT$522.74 Million ≈ $16.47 Million	0.201x	+28.89%
2013-12-31	NT$2.29 Billion ≈ $72.25 Million	NT$358.09 Million ≈ $11.28 Million	0.156x	-0.60%
2012-12-31	NT$1.57 Billion ≈ $49.49 Million	NT$246.80 Million ≈ $7.78 Million	0.157x	+37.15%
2011-12-31	NT$1.65 Billion ≈ $52.14 Million	NT$189.56 Million ≈ $5.97 Million	0.115x	+58.61%
2010-12-31	NT$1.37 Billion ≈ $43.28 Million	NT$99.21 Million ≈ $3.13 Million	0.072x	-39.09%
2009-12-31	NT$1.26 Billion ≈ $39.78 Million	NT$149.69 Million ≈ $4.72 Million	0.119x	--

About Iron Force Industrial Co Ltd

TW:2228 Taiwan Auto Parts

Market Cap

$217.92 Million

NT$6.92 Billion TWD

Market Cap Rank

#16336 Global

#793 in Taiwan

Share Price

NT$86.70

Change (1 day)

-0.34%

52-Week Range

NT$80.40 - NT$124.50

All Time High

NT$194.08