Cash flow FuSheng Precision Co., Ltd.

Equities

6670

TW0006670003

Recreational Products

End-of-day quote Taiwan S.E. Other stock markets 2024-12-09			5-day change	1st Jan Change
313.50 ^TWD	+1.29%		+0.48%	+51.82%

Nov. 13	FuSheng Precision Co., Ltd. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2024	CI
Nov. 12	FuSheng Precision Logs NT$2.5 Billion Profit in January-September	MT

39.QUX7z5_Uqb434kJprqlEFxDZU7DoLJj48-BBDbWAvdc.IzWvpu2u2csDhykI_s0QYlidK_68S9KupLMWWe_ayJ4DDbCGp7iRy03XGw

Published financial data: FUSHENG PRECISION CO., LTD.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	17.2B	14.23B	23.22B	33.72B	24.38B
Total Revenues	17.2B	14.23B	23.22B	33.72B	24.38B
Cost of Goods Sold, Total	12.8B	10.97B	17.75B	25.1B	18.73B
Gross Profit	4.4B	3.26B	5.47B	8.62B	5.65B
Selling General & Admin Expenses, Total	1.12B	1.11B	1.76B	2.24B	1.89B
Provision for Bad Debts	-3.07M	1.18M	15.11M	1.36M	585K
R&D Expenses	498M	505M	552M	613M	715M
Other Operating Expenses, Total	1.62B	1.62B	2.33B	2.85B	2.61B
Operating Income	2.79B	1.64B	3.14B	5.76B	3.04B
Interest Expense, Total	-29.01M	-22.98M	-26.56M	-63.31M	-62.84M
Interest And Investment Income	35.2M	31.33M	20.98M	46.43M	154M
Net Interest Expenses	6.2M	8.36M	-5.58M	-16.88M	91.34M
Income (Loss) On Equity Invest.	-2.9M	-1.44M	-1.45M	-	-
Currency Exchange Gains (Loss)	17.37M	-306M	-53.94M	612M	96.86M
Other Non Operating Income (Expenses)	59.96M	137M	252M	116M	121M
EBT, Excl. Unusual Items	2.87B	1.48B	3.33B	6.47B	3.35B
Gain (Loss) On Sale Of Investments	-	-4.27M	6.32M	-17.39M	7.68M
Gain (Loss) On Sale Of Assets	-7.1M	96K	2.16M	1.7M	4.23M
Asset Writedown	-	-	-	-	-53.35M
Insurance Settlements	-	-	43.84M	-	-
Other Unusual Items	-	730K	-187M	-	39K
EBT, Incl. Unusual Items	2.86B	1.47B	3.2B	6.46B	3.31B
Income Tax Expense	594M	262M	666M	1.34B	765M
Earnings From Continuing Operations	2.27B	1.21B	2.53B	5.12B	2.54B
Net Income to Company	2.27B	1.21B	2.53B	5.12B	2.54B
Minority Interest	-89.39M	-83.2M	-167M	-315M	-139M
Net Income - (IS)	2.18B	1.13B	2.36B	4.8B	2.4B
Net Income to Common Incl Extra Items	2.18B	1.13B	2.36B	4.8B	2.4B
Net Income to Common Excl. Extra Items	2.18B	1.13B	2.36B	4.8B	2.4B
Per Share Items
Net EPS - Basic	16.61	8.62	18.03	36.64	18.18
Basic EPS - Continuing Operations	16.61	8.62	18.03	36.64	18.18
Basic Weighted Average Shares Outstanding	131M	131M	131M	131M	132M
Net EPS - Diluted	16.57	8.61	17.99	35.56	17.39
Diluted EPS - Continuing Operations	16.57	8.61	17.99	35.56	17.39
Diluted Weighted Average Shares Outstanding	131M	131M	131M	135M	139M
Normalized Basic EPS	12.99	6.42	14.62	28.47	14.78
Normalized Diluted EPS	12.96	6.4	14.58	27.6	14.06
Dividend Per Share	8	6.6	12	22	12.5
Payout Ratio	66.23	92.79	36.6	32.75	121.3
Supplemental Items
EBITDA	3.15B	2.05B	3.69B	6.43B	3.82B
EBITA	2.79B	1.65B	3.17B	5.79B	3.07B
EBIT	2.79B	1.64B	3.14B	5.76B	3.04B
EBITDAR	3.16B	2.06B	3.73B	6.45B	3.84B
Effective Tax Rate - (Ratio)	20.76	17.75	20.85	20.77	23.12
Total Current Taxes	584M	226M	726M	1.37B	696M
Total Deferred Taxes	9.57M	35.75M	-59.88M	-29.84M	68.8M
Normalized Net Income	1.7B	841M	1.92B	3.73B	1.95B
Interest on Long-Term Debt	5.64M	11.55M	7.27M	19.27M	22.04M
Non-Cash Pension Expense	1.28M	973K	1.47M	729K	850K
Supplemental Operating Expense Items
Selling and Marketing Expenses	366M	362M	508M	615M	405M
General and Administrative Expenses	758M	749M	1.25B	1.62B	1.49B
Research And Development Expense From Footnotes	498M	505M	552M	613M	715M
Net Rental Expense, Total	13.19M	10.02M	36.21M	21.78M	18.27M
Imputed Operating Lease Interest Expense	3.76M	985K	2.84M	3.6M	3.37M
Imputed Operating Lease Depreciation	9.43M	9.03M	33.36M	18.18M	14.9M
Stock-Based Comp., Other (Total)	-	-	-	13.17M	19.9M
Total Stock-Based Compensation	-	-	-	13.17M	19.9M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	2.67B	1.57B	1.54B	4.51B	4.85B
Short Term Investments	-	-	286M	211M	55.33M
Trading Asset Securities, Total	182M	234M	179M	159M	169M
Total Cash And Short Term Investments	2.85B	1.81B	2B	4.88B	5.08B
Accounts Receivable, Total	3.08B	3.78B	3.93B	5.65B	4.47B
Other Receivables	197M	211M	316M	288M	304M
Total Receivables	3.28B	3.99B	4.25B	5.94B	4.77B
Inventory	2.12B	2.9B	4.71B	4.34B	3.07B
Prepaid Expenses	124M	146M	222M	292M	161M
Other Current Assets, Total	20.42M	40.72M	6.9M	16.18M	21.94M
Total Current Assets	8.39B	8.89B	11.2B	15.46B	13.11B
Gross Property Plant And Equipment	5.58B	7.57B	8.27B	9.96B	10.48B
Accumulated Depreciation	-2.56B	-3.37B	-3.63B	-4.27B	-4.87B
Net Property Plant And Equipment	3.02B	4.2B	4.64B	5.69B	5.61B
Long-term Investments	24.09M	22.66M	132M	1.92M	1.92M
Goodwill	107M	550M	500M	500M	500M
Other Intangibles, Total	52.07M	268M	213M	188M	152M
Deferred Tax Assets Long-Term	77.83M	53.01M	130M	136M	49.09M
Other Long-Term Assets, Total	152M	491M	510M	599M	581M
Total Assets	11.82B	14.47B	17.33B	22.57B	20B
Liabilities
Accounts Payable, Total	2.27B	3.02B	3.3B	3.45B	2.7B
Accrued Expenses, Total	1.01B	1.05B	1.29B	1.56B	1.53B
Short-term Borrowings	894M	2.23B	2.63B	1.43B	681M
Current Portion of Long-Term Debt	-	4.54M	6.11M	20.21M	8.16M
Current Portion of Leases	56.89M	68.77M	67.67M	31.78M	62.57M
Current Income Taxes Payable	340M	406M	558M	961M	509M
Unearned Revenue Current, Total	9.63M	28.54M	233M	146M	20.07M
Other Current Liabilities	58.64M	126M	189M	242M	461M
Total Current Liabilities	4.64B	6.93B	8.27B	7.85B	5.97B
Long-Term Debt	-	25.7M	19.87M	1.45B	1.21B
Long-Term Leases	241M	218M	147M	336M	234M
Pension & Other Post Retirement Benefits	136M	154M	204M	82.64M	60.68M
Deferred Tax Liability Non Current	2.37M	88.68M	98.66M	81.48M	81.48M
Other Non Current Liabilities	156M	63.26M	16.56M	19.82M	17.63M
Total Liabilities	5.18B	7.48B	8.75B	9.81B	7.57B
Common Stock, Total	1.31B	1.31B	1.31B	1.31B	1.33B
Additional Paid In Capital	1.66B	1.66B	1.67B	1.93B	2.21B
Retained Earnings	3.91B	3.97B	5.46B	8.72B	8.19B
Comprehensive Income and Other	-569M	-604M	-630M	-421M	-582M
Total Common Equity	6.31B	6.34B	7.81B	11.55B	11.15B
Minority Interest	328M	649M	764M	1.21B	1.28B
Total Equity	6.64B	6.99B	8.57B	12.76B	12.43B
Total Liabilities And Equity	11.82B	14.47B	17.33B	22.57B	20B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	131M	131M	131M	131M	133M
ECS Total Common Shares Outstanding	131M	131M	131M	131M	133M
Book Value / Share	48.19	48.4	59.6	88.12	84.1
Tangible Book Value	6.16B	5.52B	7.1B	10.86B	10.5B
Tangible Book Value Per Share	46.97	42.16	54.16	82.87	79.18
Total Debt	1.19B	2.54B	2.87B	3.26B	2.19B
Net Debt	-1.65B	738M	867M	-1.61B	-2.89B
Debt Equivalent of Unfunded Proj. Benefit Obligation	136M	154M	204M	82.64M	60.68M
Debt Equivalent Oper. Leases	106M	80.14M	290M	174M	146M
Minority Interest, Total (Incl. Fin. Div)	328M	649M	764M	1.21B	1.28B
Equity Method Investments, Total	22.3M	20.86M	-	-	-
Account Code - Inventory Valuation	6	6	6	6	6
Inventories - Raw Materials, Total	445M	636M	2.04B	2.22B	1.31B
Inventories - Work In Process, Total	692M	994M	1.62B	1.24B	799M
Inventories - Finished Goods, Total	980M	1.27B	1.05B	886M	958M
Land - (BS)	552M	1.13B	1.27B	1.28B	1.45B
Buildings, Total	1.53B	2.11B	2.04B	2.37B	2.39B
Machinery, Total	2.94B	3.82B	4.38B	5.59B	5.86B
Full Time Employees	-	-	-	-	-
Accumulated Allowance for Doubtful Accounts (Supple)	6.26M	6.49M	19.79M	22.5M	23.07M

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	2.18B	1.13B	2.36B	4.8B	2.4B
Depreciation & Amortization - CF	424M	480M	598M	710M	832M
Amortization of Goodwill and Intangible Assets - (CF)	6.71M	6.71M	31.41M	29.52M	29.52M
Depreciation & Amortization, Total	430M	487M	629M	739M	862M
Amortization of Deferred Charges, Total - (CF)	6.62M	5.32M	12.13M	11.62M	10.16M
(Gain) Loss From Sale Of Asset	7.1M	-96K	-2.16M	-1.7M	-4.23M
(Gain) Loss on Sale of Investments - (CF)	-6.84M	4.27M	-6.32M	17.39M	-7.68M
Asset Writedown & Restructuring Costs	-	-	-	-	53.35M
(Income) Loss On Equity Investments - (CF)	2.9M	1.44M	1.45M	-	-
Stock-Based Compensation (CF)	-	-	-	13.17M	19.9M
Provision and Write-off of Bad Debts	-3.07M	1.18M	15.11M	1.36M	585K
Other Operating Activities, Total	37.54M	190M	267M	674M	-220M
Change in Trading Asset Securities	-	-	-	-	-
Change In Accounts Receivable	-247M	-396M	-164M	-1.72B	1.18B
Change In Inventories	-304M	-413M	-1.81B	377M	1.27B
Change In Accounts Payable	196M	503M	281M	155M	-752M
Change in Unearned Revenues	-2.06M	8.7M	205M	-87.18M	-126M
Change in Other Net Operating Assets	-252M	-1.1B	96.77M	220M	277M
Cash from Operations	2.04B	422M	1.88B	5.2B	4.97B
Capital Expenditure	-701M	-661M	-1.08B	-1.66B	-1.01B
Sale of Property, Plant, and Equipment	21.54M	47.34M	25.89M	24.83M	118M
Cash Acquisitions	-	-823M	28.9M	-	-
Sale (Purchase) of Intangible assets	-9.87M	-6.12M	-12.24M	-10.06M	-3.35M
Investment in Marketable and Equity Securities, Total	-20.85M	-331M	-43.31M	209M	96.3M
Other Investing Activities, Total	-26.58M	-30.72M	-271M	162M	85.45M
Cash from Investing	-736M	-1.8B	-1.35B	-1.28B	-713M
Short Term Debt Issued, Total	483M	1.17B	438M	6.78B	1.21B
Long-Term Debt Issued, Total	-	31.65M	-	1.68B	40.8M
Total Debt Issued	483M	1.2B	438M	8.46B	1.25B
Short Term Debt Repaid, Total	-	-	-	-8.09B	-1.96B
Long-Term Debt Repaid, Total	-61.28M	-73.7M	-78.19M	-74.85M	-88.49M
Total Debt Repaid	-61.28M	-73.7M	-78.19M	-8.16B	-2.05B
Issuance of Common Stock	-	-	-	-	-
Repurchase of Common Stock	-	-	-	-	-
Common Dividends Paid	-1.44B	-1.05B	-865M	-1.57B	-2.92B
Common & Preferred Stock Dividends Paid	-1.44B	-1.05B	-865M	-1.57B	-2.92B
Other Financing Activities, Total	-10.68M	243M	-43.83M	130M	-71.15M
Cash from Financing	-1.03B	323M	-548M	-1.14B	-3.79B
Foreign Exchange Rate Adjustments	-113M	-34.04M	-23.18M	191M	-116M
Net Change in Cash	161M	-1.09B	-35.05M	2.97B	346M
Supplemental Items
Cash Interest Paid	24.36M	10.82M	18.66M	44.22M	39.98M
Cash Income Tax Paid (Refund)	650M	166M	574M	992M	1.14B
Levered Free Cash Flow	918M	237M	315M	2.06B	3.17B
Unlevered Free Cash Flow	936M	251M	332M	2.1B	3.2B
Change In Net Working Capital	531M	599M	1.18B	589M	-1.42B
Net Debt Issued / Repaid	421M	1.13B	360M	302M	-802M

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	15.64	7.8	12.34	18.05	8.93
Return on Total Capital	24.43	11.8	18.71	26.22	12.4
Return On Equity %	35.89	17.79	32.51	47.97	20.19
Return on Common Equity	36.12	17.85	33.4	49.61	21.19
Margin Analysis
Gross Profit Margin %	25.6	22.9	23.56	25.55	23.17
SG&A Margin	6.53	7.81	7.59	6.64	7.76
EBITDA Margin %	18.3	14.41	15.91	19.07	15.66
EBITA Margin %	16.23	11.58	13.66	17.18	12.59
EBIT Margin %	16.2	11.53	13.53	17.09	12.47
Income From Continuing Operations Margin %	13.17	8.52	10.9	15.17	10.43
Net Income Margin %	12.65	7.94	10.18	14.24	9.86
Net Avail. For Common Margin %	12.65	7.94	10.18	14.24	9.86
Normalized Net Income Margin	9.9	5.91	8.25	11.07	8.02
Levered Free Cash Flow Margin	5.34	1.66	1.36	6.12	12.98
Unlevered Free Cash Flow Margin	5.44	1.77	1.43	6.24	13.14
Asset Turnover
Asset Turnover	1.55	1.08	1.46	1.69	1.15
Fixed Assets Turnover	6.43	3.94	5.25	6.53	4.32
Receivables Turnover (Average Receivables)	5.83	4.15	6.02	7.04	4.82
Inventory Turnover (Average Inventory)	6.51	4.37	4.66	5.55	5.06
Short Term Liquidity
Current Ratio	1.81	1.28	1.35	1.97	2.2
Quick Ratio	1.32	0.84	0.76	1.38	1.65
Operating Cash Flow to Current Liabilities	0.44	0.06	0.23	0.66	0.83
Days Sales Outstanding (Average Receivables)	62.65	88.21	60.65	51.87	75.74
Days Outstanding Inventory (Average Inventory)	56.06	83.73	78.34	65.82	72.2
Average Days Payable Outstanding	60.56	82.33	58.94	49.84	64.32
Cash Conversion Cycle (Average Days)	58.16	89.61	80.05	67.85	83.62
Long Term Solvency
Total Debt/Equity	17.95	36.4	33.48	25.59	17.64
Total Debt / Total Capital	15.22	26.69	25.08	20.38	14.99
LT Debt/Equity	3.64	3.49	1.94	13.98	11.59
Long-Term Debt / Total Capital	3.08	2.56	1.45	11.13	9.86
Total Liabilities / Total Assets	43.8	51.7	50.52	43.47	37.85
EBIT / Interest Expense	96.03	71.39	118.21	91.01	48.4
EBITDA / Interest Expense	110.86	92.56	141.89	102.68	62.11
(EBITDA - Capex) / Interest Expense	86.71	63.81	101.37	76.42	46.05
Total Debt / EBITDA	0.37	1.2	0.76	0.5	0.56
Net Debt / EBITDA