Company Valuation: Formosa Plastics Corporation

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 662,037 552,546 504,167 225,984 248,264 418,229 - -
Change - -16.54% -8.76% -55.18% 9.86% 68.46% - -
Enterprise Value (EV) 1 704,603 617,325 613,420 346,479 357,804 455,161 468,513 444,166
Change - -12.39% -0.63% -43.52% 3.27% 27.21% 2.93% -5.2%
P/E 9.28x 15.3x 68.9x -187x -24.7x 24x 27x 16.5x
PBR 1.64x 1.54x 1.45x 0.78x 0.68x 1.07x 1.11x 1.16x
PEG - -0.3x -0.9x 2x -0x -0x -2.4x 0.3x
Capitalization / Revenue 2.42x 2.2x 2.53x 1.13x 1.42x 2.38x 2.31x 2.2x
EV / Revenue 2.58x 2.45x 3.08x 1.73x 2.04x 2.6x 2.58x 2.34x
EV / EBITDA 10.3x 17.5x 152x 71.7x 117x 56.2x 41.4x 37.2x
EV / EBIT 11.7x 23x -152x -83.3x -47.7x -113x 244x 590x
EV / FCF 17.8x 16x -82.3x -74.3x -45.1x 32.5x 73.8x -
FCF Yield 5.63% 6.23% -1.21% -1.35% -2.22% 3.08% 1.36% -
Dividend per Share 2 8.2 4.2 - 0.5 0.5 1.119 1.193 2.784
Rate of return 7.88% 4.84% - 1.41% 1.28% 1.7% 1.82% 4.24%
EPS 2 11.21 5.68 1.15 -0.19 -1.58 2.739 2.434 3.977
Distribution rate 73.1% 73.9% - -263% -31.6% 40.9% 49% 70%
Net sales 1 273,500 251,647 199,139 200,040 175,411 175,358 181,357 189,813
EBITDA 1 68,508 35,255 4,039 4,834 3,070 8,095 11,324 11,933
EBIT 1 60,100 26,799 -4,029 -4,162 -7,505 -4,039 1,924 753.1
Net income 1 71,300 36,143 7,338 -1,232 -10,049 14,277 12,089 25,318
Net Debt 1 42,566 64,779 109,253 120,495 109,540 36,932 50,284 25,936
Reference price 2 104.00 86.80 79.20 35.50 39.00 65.70 65.70 65.70
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, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
23.99x2.6x56.23x1.7% 12.99B
11.7x0.78x5.51x4.7% 21.41B
13.18x1.52x4.92x6.42% 19.63B
-2036.66x1.12x14.65x-.--% 14.25B
98.57x0.87x6.01x0.83% 13.17B
29.16x3.51x14.06x0.77% 7.92B
30.72x3.31x20.19x1.41% 6.02B
26.02x1.77x14.96x1.63% 5.68B
21.74x0.79x11.72x2.02% 5.51B
38.31x3.38x23.53x1.09% 4.56B
Average -174.33x 1.96x 17.18x 2.06% 11.11B
Weighted average by Cap. -234.35x 1.67x 15.50x 2.7%

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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