Company Valuation: Formosa Plastics Corporation

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 662,037 552,546 504,167 225,984 248,264 346,933 - -
Change - -16.54% -8.76% -55.18% 9.86% 39.74% - -
Enterprise Value (EV) 1 704,603 617,325 613,420 346,479 357,804 365,874 368,626 370,933
Change - -12.39% -0.63% -43.52% 3.27% 2.26% 0.75% 0.63%
P/E 9.28x 15.3x 68.9x -187x -24.7x 54.8x 35.3x 18.9x
PBR 1.64x 1.54x 1.45x 0.78x 0.68x 0.96x 0.98x 0.96x
PEG - -0.3x -0.9x 2x -0x -0x 0.6x 0.2x
Capitalization / Revenue 2.42x 2.2x 2.53x 1.13x 1.42x 2.12x 1.94x 1.88x
EV / Revenue 2.58x 2.45x 3.08x 1.73x 2.04x 2.24x 2.06x 2.01x
EV / EBITDA 10.3x 17.5x 152x 71.7x 117x 50.6x 29.3x 35.4x
EV / EBIT 11.7x 23x -152x -83.3x -47.7x -110x 348x -518x
EV / FCF 17.8x 16x -82.3x -74.3x -45.1x 87.8x 64.8x -
FCF Yield 5.63% 6.23% -1.21% -1.35% -2.22% 1.14% 1.54% -
Dividend per Share 2 8.2 4.2 - 0.5 0.5 0.6121 1.007 2.022
Rate of return 7.88% 4.84% - 1.41% 1.28% 1.12% 1.85% 3.71%
EPS 2 11.21 5.68 1.15 -0.19 -1.58 0.9948 1.544 2.888
Distribution rate 73.1% 73.9% - -263% -31.6% 61.5% 65.2% 70%
Net sales 1 273,500 251,647 199,139 200,040 175,411 163,681 178,963 184,292
EBITDA 1 68,508 35,255 4,039 4,834 3,070 7,237 12,600 10,464
EBIT 1 60,100 26,799 -4,029 -4,162 -7,505 -3,338 1,060 -716
Net income 1 71,300 36,143 7,338 -1,232 -10,049 6,333 9,825 18,386
Net Debt 1 42,566 64,779 109,253 120,495 109,540 18,941 21,693 24,000
Reference price 2 104.00 86.80 79.20 35.50 39.00 54.50 54.50 54.50
Nbr of stocks (in thousands) 6,365,741 6,365,741 6,365,741 6,365,741 6,365,741 6,365,741 - -
Announcement Date 1/10/22 3/13/23 3/7/24 3/13/25 3/6/26 - - -
1TWD in Million2TWD
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
54.78x2.24x50.56x1.12% 10.93B
11.58x0.77x5.12x4.75% 21.18B
18.09x - - 6.03% 20.76B
-2033.27x1.14x14.51x-.--% 14.13B
108.4x0.93x6.34x0.74% 14.32B
34.89x4.31x15.94x0.61% 9.96B
42.24x4.51x27.48x1.02% 8.24B
28.66x1.95x16.39x1.32% 6.24B
24.75x0.85x12.65x1.77% 6.15B
25.77x - - - 5.58B
Average -168.41x 2.09x 18.62x 1.93% 11.75B
Weighted average by Cap. -210.94x 1.84x 16.70x 2.52%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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  4. Valuation Formosa Plastics Corporation