Company Valuation: Formosa Plastics Corporation

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025 2026 2027
Capitalization 1 613,657 662,037 552,546 504,167 225,984 291,233 291,233 -
Change - 7.88% -16.54% -8.76% -55.18% 28.87% 0% -
Enterprise Value (EV) 1 687,966 704,603 617,325 613,420 346,479 367,467 366,251 365,283
Change - 2.42% -12.39% -0.63% -43.52% 6.06% -0.33% -0.26%
P/E ratio 30.6x 9.28x 15.3x 68.9x -187x -70x 45.5x 29.8x
PBR 1.85x 1.64x 1.54x 1.45x 0.78x 1x 0.98x 0.96x
PEG - 0x -0.3x -0.9x 2x -0x -0x 0.6x
Capitalization / Revenue 3.3x 2.42x 2.2x 2.53x 1.13x 1.62x 1.65x 1.58x
EV / Revenue 3.7x 2.58x 2.45x 3.08x 1.73x 2.04x 2.07x 1.98x
EV / EBITDA 27.4x 10.3x 17.5x 152x 71.7x 53.3x 37.6x 28.5x
EV / EBIT 40.2x 11.7x 23x -152x -83.3x -67.3x -521x 132x
EV / FCF 30.5x 17.8x 16x -82.3x -74.3x -14.5x 114x 71.1x
FCF Yield 3.28% 5.63% 6.23% -1.21% -1.35% -6.9% 0.88% 1.41%
Dividend per Share 2 2.4 8.2 4.2 - 0.5 0.4519 0.6335 0.9761
Rate of return 2.49% 7.88% 4.84% - 1.41% 0.99% 1.38% 2.13%
EPS 2 3.15 11.21 5.68 1.15 -0.19 -0.654 1.006 1.534
Distribution rate 76.2% 73.1% 73.9% - -263% -69.1% 63% 63.6%
Net sales 1 185,813 273,500 251,647 199,139 200,040 180,176 176,812 184,184
EBITDA 1 25,101 68,508 35,255 4,039 4,834 6,900 9,737 12,823
EBIT 1 17,099 60,100 26,799 -4,029 -4,162 -5,463 -702.4 2,775
Net income 1 20,036 71,300 36,143 7,338 -1,232 -4,180 5,995 9,694
Net Debt 1 74,309 42,566 64,779 109,253 120,495 76,234 75,019 74,050
Reference price 2 96.40 104.00 86.80 79.20 35.50 45.75 45.75 45.75
Nbr of stocks (in thousands) 6,365,741 6,365,741 6,365,741 6,365,741 6,365,741 6,365,741 6,365,741 -
Announcement Date 16/03/21 10/01/22 13/03/23 07/03/24 13/03/25 - - -
1TWD in Million2TWD
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
-69.96x2.04x53.25x0.99% 9.2B
-60.25x0.94x10.28x4.38% 22.8B
16.66x4.29x10.32x5.85% 21.12B
-104.94x1x6.85x0.32% 15.47B
-24.42x1.1x19.39x-.--% 13.37B
327.91x5.45x28.03x0% 8.08B
-37.66x1.02x23.47x1.28% 7.22B
44.77x2.36x25.13x1.19% 6.94B
35.31x1.01x16.44x1.18% 6.88B
Average 14.16x 2.14x 21.46x 1.69% 12.34B
Weighted average by Cap. -6.16x 2.12x 17.93x 2.37%
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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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