FORMOSA PLASTICS CORPORATION |
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 67.7 TWD | -0.29% |
|
+0.89% | -14.52% |
| Apr. 10 | Formosa Plastics Corporation Reports Consolidated Sales Results for the Month of March 2024 | CI |
| Mar. 07 | Formosa Plastics Corporation Approves for the Amount of Loaning Funds | CI |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 635,301 | 613,657 | 662,037 | 552,546 | 504,167 | 430,961 | - | - |
| Enterprise Value (EV) 1 | 691,609 | 687,966 | 704,603 | 617,325 | 613,420 | 500,115 | 475,963 | 430,961 |
| P/E ratio | 17 x | 30.6 x | 9.28 x | 15.3 x | 68.9 x | 33.5 x | 17.7 x | 17.1 x |
| Yield | 4.41% | 2.49% | 7.88% | 4.84% | - | 2.31% | 4.37% | 4.73% |
| Capitalization / Revenue | 3.06 x | 3.3 x | 2.42 x | 2.2 x | 2.53 x | 2.08 x | 1.93 x | 2.1 x |
| EV / Revenue | 3.33 x | 3.7 x | 2.58 x | 2.45 x | 3.08 x | 2.42 x | 2.13 x | 2.1 x |
| EV / EBITDA | 25.1 x | 27.4 x | 10.3 x | 17.5 x | 152 x | 38.4 x | 21.5 x | 21.7 x |
| EV / FCF | 23.6 x | 30.5 x | 17.8 x | 16 x | -82.3 x | 61 x | 39.7 x | - |
| FCF Yield | 4.23% | 3.28% | 5.63% | 6.23% | -1.21% | 1.64% | 2.52% | - |
| Price to Book | 1.82 x | 1.85 x | 1.64 x | 1.54 x | 1.45 x | 1.21 x | 1.13 x | - |
| Nbr of stocks (in thousands) | 6,365,741 | 6,365,741 | 6,365,741 | 6,365,741 | 6,365,741 | 6,365,741 | - | - |
| Reference price 2 | 99.80 | 96.40 | 104.0 | 86.80 | 79.20 | 67.70 | 67.70 | 67.70 |
| Announcement Date | 3/16/20 | 3/16/21 | 1/10/22 | 3/13/23 | 3/7/24 | - | - | - |
1TWD in Million2TWD
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 207,849 | 185,813 | 273,500 | 251,647 | 199,139 | 206,777 | 223,121 | 205,182 |
| EBITDA 1 | 27,587 | 25,101 | 68,508 | 35,255 | 4,039 | 13,025 | 22,123 | 19,868 |
| EBIT 1 | 20,196 | 17,099 | 60,100 | 26,799 | -4,029 | 4,019 | 13,023 | 9,814 |
| Operating Margin | 9.72% | 9.2% | 21.97% | 10.65% | -2.02% | 1.94% | 5.84% | 4.78% |
| Earnings before Tax (EBT) 1 | 42,219 | 24,167 | 85,900 | 43,794 | 6,997 | 14,271 | 32,777 | 27,874 |
| Net income 1 | 37,324 | 20,036 | 71,300 | 36,143 | 7,338 | 13,598 | 27,346 | 25,240 |
| Net margin | 17.96% | 10.78% | 26.07% | 14.36% | 3.68% | 6.58% | 12.26% | 12.3% |
| EPS 2 | 5.860 | 3.150 | 11.21 | 5.680 | 1.150 | 2.022 | 3.824 | 3.965 |
| Free Cash Flow 1 | 29,287 | 22,561 | 39,663 | 38,481 | -7,452 | 8,197 | 12,002 | - |
| FCF margin | 14.09% | 12.14% | 14.5% | 15.29% | -3.74% | 3.96% | 5.38% | - |
| FCF Conversion (EBITDA) | 106.16% | 89.88% | 57.89% | 109.15% | - | 62.93% | 54.25% | - |
| FCF Conversion (Net income) | 78.47% | 112.6% | 55.63% | 106.47% | - | 60.28% | 43.89% | - |
| Dividend per Share 2 | 4.400 | 2.400 | 8.200 | 4.200 | - | 1.566 | 2.959 | 3.200 |
| Announcement Date | 3/16/20 | 3/16/21 | 1/10/22 | 3/13/23 | 3/7/24 | - | - | - |
1TWD in Million2TWD
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2021 Q3 | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 | 2025 Q1 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 66,936 | 74,400 | 71,004 | 73,924 | 55,653 | 51,066 | 52,213 | 48,447 | 50,736 | 47,743 | 53,015 | 58,772 | 55,196 | 55,834 | 59,277 |
| EBITDA 1 | - | 18,274 | 15,332 | - | - | -275.4 | 2,049 | - | 2,165 | 312 | 1,099 | 1,265 | 3,807 | 6,183 | - |
| EBIT 1 | 12,756 | 16,100 | 13,330 | 15,297 | 479.7 | -2,307 | 16.76 | -2,473 | 175.7 | -1,748 | -1,137 | -971 | 1,571 | 3,947 | 7,409 |
| Operating Margin | 19.06% | 21.64% | 18.77% | 20.69% | 0.86% | -4.52% | 0.03% | -5.1% | 0.35% | -3.66% | -2.14% | -1.65% | 2.85% | 7.07% | 12.5% |
| Earnings before Tax (EBT) 1 | 22,513 | 20,800 | 19,723 | 25,311 | 6,106 | -7,346 | 2,466 | 1,073 | 6,838 | -3,380 | 6,714 | 8,401 | 9,140 | 9,778 | 13,574 |
| Net income 1 | 19,315 | 16,800 | 16,574 | 21,202 | 5,760 | -7,393 | 2,343 | 1,225 | 6,671 | -2,901 | 5,570 | 7,006 | 7,560 | 8,114 | 11,268 |
| Net margin | 28.86% | 22.58% | 23.34% | 28.68% | 10.35% | -14.48% | 4.49% | 2.53% | 13.15% | -6.08% | 10.51% | 11.92% | 13.7% | 14.53% | 19.01% |
| EPS 2 | 3.540 | 2.650 | 2.600 | 3.330 | 0.9000 | -1.160 | 0.3700 | 0.1900 | 1.050 | -0.4600 | 0.8770 | 1.102 | 1.190 | 1.274 | 1.770 |
| Dividend per Share 2 | - | - | - | - | - | - | - | - | - | - | - | - | 4.757 | - | - |
| Announcement Date | 11/10/21 | 1/10/22 | 5/10/22 | 8/11/22 | 11/10/22 | 3/13/23 | 5/11/23 | 8/10/23 | 11/9/23 | 3/7/24 | - | - | - | - | - |
1TWD in Million2TWD
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 56,308 | 74,309 | 42,566 | 64,779 | 109,253 | 69,154 | 45,003 | - |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 2.041 x | 2.96 x | 0.6213 x | 1.837 x | 27.05 x | 5.309 x | 2.034 x | - |
| Free Cash Flow 1 | 29,287 | 22,561 | 39,663 | 38,481 | -7,452 | 8,197 | 12,002 | - |
| ROE (net income / shareholders' equity) | 10.6% | 5.88% | 19.4% | 9.5% | 2.08% | 3.72% | 6.28% | 6.93% |
| ROA (Net income/ Total Assets) | 7.48% | 4.1% | 14% | 6.85% | 1.41% | 3.1% | 4.74% | - |
| Assets 1 | 499,300 | 488,188 | 511,082 | 527,467 | 520,996 | 438,377 | 576,503 | - |
| Book Value Per Share 2 | 54.80 | 52.20 | 63.30 | 56.20 | 54.60 | 56.00 | 60.20 | - |
| Cash Flow per Share 2 | 7.310 | 4.940 | 9.090 | 8.920 | 0.9700 | 3.330 | 4.570 | - |
| Capex 1 | 17,293 | 8,883 | 18,197 | 18,321 | 13,609 | 4,598 | 7,714 | - |
| Capex / Sales | 8.32% | 4.78% | 6.65% | 7.28% | 6.83% | 2.22% | 3.46% | - |
| Announcement Date | 3/16/20 | 3/16/21 | 1/10/22 | 3/13/23 | 3/7/24 | - | - | - |
1TWD in Million2TWD
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
B-
Sell
Buy
Mean consensus
HOLD
Number of Analysts
10
Last Close Price
67.7
TWD
Average target price
72.78
TWD
Spread / Average Target
+7.50%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -14.52% | 13.21B | |
| +4.47% | 40.29B | |
| -25.15% | 20.6B | |
| -8.75% | 9.69B | |
| -13.48% | 9.66B | |
| -4.50% | 6.61B | |
| +3.01% | 6.42B | |
| -30.31% | 5.29B | |
| -21.00% | 3.3B | |
| -34.73% | 3.06B |
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