Company Valuation: Formosa Plastics Corporation

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Capitalization 1 662,037 552,546 504,167 225,984 248,264 289,005 - -
Change - -16.54% -8.76% -55.18% 9.86% 16.41% - -
Enterprise Value (EV) 1 704,603 617,325 613,420 346,479 357,804 307,945 310,698 313,004
Change - -12.39% -0.63% -43.52% 3.27% -13.93% 0.89% 0.74%
P/E ratio 9.28x 15.3x 68.9x -187x -24.7x 45.6x 29.4x 15.7x
PBR 1.64x 1.54x 1.45x 0.78x 0.68x 0.8x 0.82x 0.8x
PEG - -0.3x -0.9x 2x -0x -0x 0.5x 0.2x
Capitalization / Revenue 2.42x 2.2x 2.53x 1.13x 1.42x 1.77x 1.61x 1.57x
EV / Revenue 2.58x 2.45x 3.08x 1.73x 2.04x 1.88x 1.74x 1.7x
EV / EBITDA 10.3x 17.5x 152x 71.7x 117x 42.6x 24.7x 29.9x
EV / EBIT 11.7x 23x -152x -83.3x -47.7x -92.2x 293x -437x
EV / FCF 17.8x 16x -82.3x -74.3x -45.1x 73.9x 54.6x -
FCF Yield 5.63% 6.23% -1.21% -1.35% -2.22% 1.35% 1.83% -
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% 1.35% 2.22% 4.45%
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 45.40 45.40 45.40
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 10/01/22 13/03/23 07/03/24 13/03/25 06/03/26 - - -
1TWD in Million2TWD
Estimates

P/E ratio, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
46.19x1.9x43.04x1.33% 9.23B
14.87x0.9x6.04x3.7% 27.2B
19.18x2.74x10.59x6.2% 20.23B
111.13x1x7.01x0.63% 17.24B
-2026.48x1.15x14.47x-.--% 14.37B
33.01x4.66x16.43x0.54% 11.25B
25.51x0.91x11.58x4.21% 8.28B
27.06x0.9x13.45x1.62% 6.72B
31.99x2.16x16.56x1.3% 6.37B
27.85x - - - 6.03B
Average -168.97x 1.81x 15.47x 2.17% 12.69B
Weighted average by Cap. -195.82x 1.75x 13.08x 2.56%

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