Financials Feng Tay Enterprises Co., Ltd.

Equities

9910

TW0009910000

Footwear

End-of-day quote Taiwan S.E. 18:00:00 2024-04-25 EDT 5-day change 1st Jan Change
161 TWD +1.90% Intraday chart for Feng Tay Enterprises Co., Ltd. +4.89% -8.00%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 143,273 175,895 204,109 182,067 172,810 158,985 - -
Enterprise Value (EV) 1 144,671 175,661 209,480 179,952 172,810 156,114 151,430 158,985
P/E ratio 23 x 36.1 x 45 x 20 x 34.7 x 23.9 x 18.7 x 17.9 x
Yield 2.05% 1.85% 1.77% 3.73% 2.46% 3.01% 3.71% 4.06%
Capitalization / Revenue 1.94 x 2.55 x 2.9 x 1.9 x 2.01 x 1.73 x 1.56 x 1.48 x
EV / Revenue 1.96 x 2.55 x 2.98 x 1.88 x 2.01 x 1.7 x 1.49 x 1.48 x
EV / EBITDA 13.8 x 18.6 x 23.5 x 12.7 x 18.1 x 12.8 x 10.4 x 10.3 x
EV / FCF 39.2 x 32.1 x -154 x 14.5 x - 22.8 x 18.6 x -
FCF Yield 2.55% 3.12% -0.65% 6.89% - 4.38% 5.37% -
Price to Book 8.62 x 10.1 x 11.3 x 7.28 x 7.46 x 6.28 x 5.33 x 5.42 x
Nbr of stocks (in thousands) 987,483 987,483 987,483 987,483 987,483 987,483 - -
Reference price 2 145.1 178.1 206.7 184.4 175.0 161.0 161.0 161.0
Announcement Date 20-01-10 21-03-22 22-03-18 23-03-16 24-03-14 - - -
1TWD in Million2TWD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 73,930 68,960 70,350 95,903 85,767 91,744 101,721 107,419
EBITDA 1 10,501 9,468 8,919 14,209 9,564 12,216 14,608 15,504
EBIT 1 8,371 7,069 6,377 11,346 6,584 8,837 11,084 11,852
Operating Margin 11.32% 10.25% 9.06% 11.83% 7.68% 9.63% 10.9% 11.03%
Earnings before Tax (EBT) 1 9,813 7,646 6,928 13,474 7,081 9,422 12,435 -
Net income 1 6,238 4,879 4,542 9,082 4,975 6,689 8,461 -
Net margin 8.44% 7.07% 6.46% 9.47% 5.8% 7.29% 8.32% -
EPS 2 6.317 4.938 4.598 9.196 5.040 6.735 8.607 9.006
Free Cash Flow 1 3,687 5,474 -1,358 12,395 - 6,841 8,136 -
FCF margin 4.99% 7.94% -1.93% 12.92% - 7.46% 8% -
FCF Conversion (EBITDA) 35.12% 57.82% - 87.23% - 56% 55.69% -
FCF Conversion (Net income) 59.11% 112.2% - 136.48% - 102.27% 96.16% -
Dividend per Share 2 2.976 3.304 3.661 6.875 4.300 4.851 5.967 6.537
Announcement Date 20-01-10 21-03-22 22-03-18 23-03-16 24-03-14 - - -
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 12,590 18,725 22,395 24,763 25,881 22,863 19,503 20,656 23,073 22,535 20,472 22,033 24,516 24,395 23,222
EBITDA 1 64.69 2,807 3,230 3,841 3,704 3,433 1,652 2,152 2,705 3,055 2,409 3,007 3,355 3,610 -
EBIT 1 -569.8 2,144 2,552 3,122 2,983 2,689 926.9 1,414 1,949 2,295 1,503 2,089 2,665 2,716 2,587
Operating Margin -4.53% 11.45% 11.4% 12.61% 11.53% 11.76% 4.75% 6.84% 8.45% 10.18% 7.34% 9.48% 10.87% 11.13% 11.14%
Earnings before Tax (EBT) 1 -439.5 2,216 3,035 3,845 4,058 2,537 895.7 1,765 2,407 2,014 1,802 2,302 2,767 2,888 2,841
Net income 1 -411.9 1,613 2,073 2,583 2,722 1,704 749.4 1,197 1,689 1,340 1,375 1,754 1,869 1,906 1,936
Net margin -3.27% 8.61% 9.26% 10.43% 10.52% 7.45% 3.84% 5.8% 7.32% 5.94% 6.71% 7.96% 7.62% 7.81% 8.34%
EPS 2 -0.4196 1.634 2.098 2.616 2.759 1.723 0.7589 1.210 1.710 1.360 1.391 1.776 1.893 1.930 1.960
Dividend per Share 2 - - - - - - - - - - - - 4.300 - -
Announcement Date 21-11-12 22-03-18 22-04-12 22-08-11 22-11-10 23-03-16 23-05-11 23-08-11 23-11-10 24-03-14 - - - - -
1TWD in Million2TWD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 1,398 - 5,371 - - - - -
Net Cash position 1 - 235 - 2,115 - 2,870 7,555 -
Leverage (Debt/EBITDA) 0.1331 x - 0.6022 x - - - - -
Free Cash Flow 1 3,687 5,474 -1,358 12,395 - 6,841 8,136 -
ROE (net income / shareholders' equity) 38.2% 28.7% 25.6% 42.1% 20.7% 28.1% 29% 30.3%
ROA (Net income/ Total Assets) 16.5% 11.5% 10% 18.5% 9.8% 13.4% 14.4% -
Assets 1 37,783 42,527 45,357 49,118 50,764 49,838 58,689 -
Book Value Per Share 2 16.80 17.60 18.30 25.30 23.50 25.60 30.20 29.70
Cash Flow per Share 2 9.510 8.700 1.780 17.10 - 10.60 12.90 13.40
Capex 1 5,703 3,115 3,113 4,454 - 3,786 4,089 5,013
Capex / Sales 7.71% 4.52% 4.42% 4.64% - 4.13% 4.02% 4.67%
Announcement Date 20-01-10 21-03-22 22-03-18 23-03-16 24-03-14 - - -
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+
More Ratings
Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
13
Last Close Price
161 TWD
Average target price
181.3 TWD
Spread / Average Target
+12.61%
Consensus
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