Stock 1434 FORMOSA TAFFETA CO., LTD.
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Financials Formosa Taffeta Co., Ltd.

Equities

1434

TW0001434009

Textiles & Leather Goods

End-of-day quote Taiwan S.E.
Other stock markets
 06:00:00 2024-04-25 pm EDT 		5-day change 1st Jan Change
22.5 TWD +0.22% Intraday chart for Formosa Taffeta Co., Ltd. +2.04% -10.71%
Mar. 11 Formosa Taffeta Co., Ltd. Reports Earnings Results for the Full Year Ended December 31, 2023 CI
2023 Formosa Taffeta Co., Ltd. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023 CI

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025
Capitalization 1 57,541 52,241 49,044 45,006 42,398 37,856 -
Enterprise Value (EV) 1 63,920 52,241 49,044 45,006 49,695 44,803 44,624
P/E ratio 11.1 x 24.8 x - - - - -
Yield 7.31% - - - 1.98% 3.2% 3.73%
Capitalization / Revenue 1.57 x - 1.5 x 1.3 x 1.49 x 1.22 x 1.16 x
EV / Revenue 1.74 x - 1.5 x 1.3 x 1.74 x 1.44 x 1.37 x
EV / EBITDA 15.9 x - - - 30 x 13.9 x 12.4 x
EV / FCF 16.2 x - - - 14.6 x 59.2 x 30.5 x
FCF Yield 6.19% - - - 6.85% 1.69% 3.28%
Price to Book 0.9 x - 0.79 x 0.81 x 0.78 x 0.69 x 0.68 x
Nbr of stocks (in thousands) 1,682,472 1,682,472 1,682,472 1,682,472 1,682,472 1,682,472 -
Reference price 2 34.20 31.05 29.15 26.75 25.20 22.50 22.50
Announcement Date 3/25/20 3/11/21 3/9/22 3/6/23 3/11/24 - -
1TWD in Million2TWD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025
Net sales 1 36,762 - 32,799 34,723 28,502 31,022 32,605
EBITDA 1 4,022 - - - 1,658 3,225 3,600
EBIT 1 1,067 - 1,550 1,270 280.6 1,289 1,563
Operating Margin 2.9% - 4.73% 3.66% 0.98% 4.16% 4.79%
Earnings before Tax (EBT) 5,164 - - - - - -
Net income 5,189 2,096 - - - - -
Net margin 14.11% - - - - - -
EPS 3.080 1.250 - - - - -
Free Cash Flow 1 3,956 - - - 3,405 757 1,462
FCF margin 10.76% - - - 11.95% 2.44% 4.48%
FCF Conversion (EBITDA) 98.36% - - - 205.45% 23.47% 40.61%
FCF Conversion (Net income) 76.25% - - - - - -
Dividend per Share 2 2.500 - - - 0.5000 0.7200 0.8400
Announcement Date 3/25/20 3/11/21 3/9/22 3/6/23 3/11/24 - -
1TWD in Million2TWD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q3 2021 Q4 2022 Q1 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4
Net sales 1 7,579 8,451 8,914 - 7,777 7,653 - 7,144 6,476 7,536 7,668 7,783 8,036
EBITDA - - - - - - - - - - - - -
EBIT 1 - 307.4 366.8 - 330 224.2 - 33.77 39.67 273 302 340 374
Operating Margin - 3.64% 4.11% - 4.24% 2.93% - 0.47% 0.61% 3.62% 3.94% 4.37% 4.65%
Earnings before Tax (EBT) - - - - - - - - - - - - -
Net income - - - 586.1 - - 466.1 - - - - - -
Net margin - - - - - - - - - - - - -
EPS 0.3900 - - 0.3500 - - 0.2800 - - - - - -
Dividend per Share - - - - - - - - - - - - -
Announcement Date 11/5/21 3/9/22 5/6/22 11/4/22 3/6/23 5/5/23 8/4/23 11/3/23 3/11/24 - - - -
1TWD in Million
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025
Net Debt 1 6,380 - - - 7,297 6,947 6,768
Net Cash position 1 - - - - - - -
Leverage (Debt/EBITDA) 1.586 x - - - 4.402 x 2.154 x 1.88 x
Free Cash Flow 1 3,956 - - - 3,405 757 1,462
ROE (net income / shareholders' equity) 7.79% - - - 0.81% 2.9% 3.4%
ROA (Net income/ Total Assets) 5.97% - - - 0.6% 2.2% 2.5%
Assets 86,894 - - - - - -
Book Value Per Share 2 38.20 - 37.00 33.10 32.30 32.70 33.10
Cash Flow per Share 4.010 - - - - - -
Capex 1 2,795 - - - 687 1,604 1,707
Capex / Sales 7.6% - - - 2.41% 5.17% 5.24%
Announcement Date 3/25/20 3/11/21 3/9/22 3/6/23 3/11/24 - -
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

Ratings for Formosa Taffeta Co., Ltd.

Trading Rating
Investor Rating
ESG Refinitiv
B
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
1
Last Close Price
22.5 TWD
Average target price
27.5 TWD
Spread / Average Target
+22.22%
Consensus

Quarterly revenue - Rate of surprise

Company calendar

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