View Future GrowthFormosan Rubber Group 過去の業績過去 基準チェック /16Formosan Rubber Groupの収益は年間平均-11.8%の割合で減少していますが、 Chemicals業界の収益は年間 減少しています。収益は年間1.7% 19.7%割合で 減少しています。 Formosan Rubber Groupの自己資本利益率は3.3%であり、純利益率は31.6%です。主要情報-11.82%収益成長率-11.83%EPS成長率Chemicals 業界の成長7.89%収益成長率-19.70%株主資本利益率3.27%ネット・マージン31.63%前回の決算情報31 Mar 2026最近の業績更新Reported Earnings • May 13First quarter 2026 earnings released: EPS: NT$0.23 (vs NT$0.47 in 1Q 2025)First quarter 2026 results: EPS: NT$0.23 (down from NT$0.47 in 1Q 2025). Revenue: NT$327.5m (down 17% from 1Q 2025). Net income: NT$70.1m (down 51% from 1Q 2025). Profit margin: 21% (down from 36% in 1Q 2025). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings.Reported Earnings • Mar 11Full year 2025 earnings released: EPS: NT$1.67 (vs NT$1.89 in FY 2024)Full year 2025 results: EPS: NT$1.67 (down from NT$1.89 in FY 2024). Revenue: NT$1.44b (down 2.5% from FY 2024). Net income: NT$507.8m (down 11% from FY 2024). Profit margin: 35% (down from 39% in FY 2024). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has remained flat, which means it is well ahead of earnings.Reported Earnings • Nov 12Third quarter 2025 earnings released: EPS: NT$0.59 (vs NT$0.65 in 3Q 2024)Third quarter 2025 results: EPS: NT$0.59 (down from NT$0.65 in 3Q 2024). Revenue: NT$310.6m (down 19% from 3Q 2024). Net income: NT$179.4m (down 9.5% from 3Q 2024). Profit margin: 58% (up from 52% in 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has remained flat, which means it is well ahead of earnings.Reported Earnings • Aug 17Second quarter 2025 earnings released: EPS: NT$0.46 (vs NT$0.78 in 2Q 2024)Second quarter 2025 results: EPS: NT$0.46 (down from NT$0.78 in 2Q 2024). Revenue: NT$304.2m (down 36% from 2Q 2024). Net income: NT$139.4m (down 41% from 2Q 2024). Profit margin: 46% (down from 50% in 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings.Reported Earnings • May 10First quarter 2025 earnings released: EPS: NT$0.47 (vs NT$0.35 in 1Q 2024)First quarter 2025 results: EPS: NT$0.47 (up from NT$0.35 in 1Q 2024). Revenue: NT$392.6m (up 45% from 1Q 2024). Net income: NT$141.9m (up 32% from 1Q 2024). Profit margin: 36% (down from 40% in 1Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings.お知らせ • May 01Formosan Rubber Group Inc. to Report Q1, 2025 Results on May 09, 2025Formosan Rubber Group Inc. announced that they will report Q1, 2025 results on May 09, 2025すべての更新を表示Recent updatesReported Earnings • May 13First quarter 2026 earnings released: EPS: NT$0.23 (vs NT$0.47 in 1Q 2025)First quarter 2026 results: EPS: NT$0.23 (down from NT$0.47 in 1Q 2025). Revenue: NT$327.5m (down 17% from 1Q 2025). Net income: NT$70.1m (down 51% from 1Q 2025). Profit margin: 21% (down from 36% in 1Q 2025). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings.Buy Or Sell Opportunity • May 08Now 20% undervaluedOver the last 90 days, the stock has risen 5.7% to NT$26.10. The fair value is estimated to be NT$32.64, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 6.6% over the last 3 years. Earnings per share has declined by 7.3%.Buy Or Sell Opportunity • Mar 23Now 20% undervaluedOver the last 90 days, the stock has risen 2.7% to NT$25.10. The fair value is estimated to be NT$31.40, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 6.6% over the last 3 years. Earnings per share has declined by 7.4%.お知らせ • Mar 11Formosan Rubber Group Inc., Annual General Meeting, Jun 12, 2026Formosan Rubber Group Inc., Annual General Meeting, Jun 12, 2026. Location: 3 floor no,1, ch`ao feng rd., san huo li, longtan district, taoyuan city TaiwanReported Earnings • Mar 11Full year 2025 earnings released: EPS: NT$1.67 (vs NT$1.89 in FY 2024)Full year 2025 results: EPS: NT$1.67 (down from NT$1.89 in FY 2024). Revenue: NT$1.44b (down 2.5% from FY 2024). Net income: NT$507.8m (down 11% from FY 2024). Profit margin: 35% (down from 39% in FY 2024). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has remained flat, which means it is well ahead of earnings.Reported Earnings • Nov 12Third quarter 2025 earnings released: EPS: NT$0.59 (vs NT$0.65 in 3Q 2024)Third quarter 2025 results: EPS: NT$0.59 (down from NT$0.65 in 3Q 2024). Revenue: NT$310.6m (down 19% from 3Q 2024). Net income: NT$179.4m (down 9.5% from 3Q 2024). Profit margin: 58% (up from 52% in 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has remained flat, which means it is well ahead of earnings.Reported Earnings • Aug 17Second quarter 2025 earnings released: EPS: NT$0.46 (vs NT$0.78 in 2Q 2024)Second quarter 2025 results: EPS: NT$0.46 (down from NT$0.78 in 2Q 2024). Revenue: NT$304.2m (down 36% from 2Q 2024). Net income: NT$139.4m (down 41% from 2Q 2024). Profit margin: 46% (down from 50% in 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings.お知らせ • Jun 14Formosan Rubber Group Inc. Announces Board ChangesFormosan Rubber Group Inc. announced the appointment of HSU, CHENG CHI as director and HUANG, MING FA as independent director, at the AGM held on June 13, 2025. Resume of the previous position holder: Directors: HSU, CHENG TSAI: Chairperson of the company. HSU, CHENG CHI: Natural-person director and General Manager of the company. (3)HSU, CHENG HSIN: Representative of Institutional director of the company. (4)HSU, WEI JYH: Representative of Institutional director of the company. (5)LIN, KUN ZONG: Representative of Institutional director of the company. (6)CHU, LUNG TSUNG: Representative of Institutional director of the company. Independent Directors: (1)WU, CHUN LAI: President of the Strong Generation Association for Education, @ Science and Culture. (2)YAO, YU LIN: Partner of ShineWing Taiwan. (3)CHU, SHIH-YI: independent director of the company. 5.Title and name of the new position holder: Directors: (1)HSU, CHENG TSAI (2)HSU, CHENG CHI (3)CHUAN HSIN FENG Ltd. (Representative:HSU, CHENG HSIN) (4)PAC-NET CONSTRUCTION CORPORATIO(Representative:HSU, WEI JYH) (5)FORMOSAN CONSTRUCTION CORPORATION(Representative:LIN, KUN ZONG) (6)ASCEND GEAR INTERNATIONAL INC.(Representative:CHU, LUNG TSUNG) Independent Directors: (1)YAO, YU LIN (2)CHU, SHIH-YI (3)HUANG, MING FA 6.Resume of the new position holder: Directors: (1)HSU, CHENG TSAI: Chairperson of the company. (2)HSU, CHENG CHI: Natural-person director and General Manager of the company. (3)HSU, CHENG HSIN: Representative of Institutional director of the company. (4)HSU, WEI JYH: Representative of Institutional director of the company. (5)LIN, KUN ZONG: Representative of Institutional director of the company. (6)CHU, LUNG TSUNG: Representative of Institutional director of the company. Independent Directors: (1)YAO, YU LIN: Partner of ShineWing Taiwan. (2)CHU, SHIH-YI: Independent director of the company. (3)HUANG, MING FA: Managing Director of TAH KONG CHEMICAL INDUSTRIAL CORP.Upcoming Dividend • Jun 09Upcoming dividend of NT$1.40 per shareEligible shareholders must have bought the stock before 16 June 2025. Payment date: 09 July 2025. Payout ratio is a comfortable 70% and this is well supported by cash flows. Trailing yield: 5.4%. Within top quartile of Taiwanese dividend payers (5.2%). Higher than average of industry peers (3.0%).Reported Earnings • May 10First quarter 2025 earnings released: EPS: NT$0.47 (vs NT$0.35 in 1Q 2024)First quarter 2025 results: EPS: NT$0.47 (up from NT$0.35 in 1Q 2024). Revenue: NT$392.6m (up 45% from 1Q 2024). Net income: NT$141.9m (up 32% from 1Q 2024). Profit margin: 36% (down from 40% in 1Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings.お知らせ • May 01Formosan Rubber Group Inc. to Report Q1, 2025 Results on May 09, 2025Formosan Rubber Group Inc. announced that they will report Q1, 2025 results on May 09, 2025Reported Earnings • Apr 01Full year 2024 earnings released: EPS: NT$1.89 (vs NT$1.61 in FY 2023)Full year 2024 results: EPS: NT$1.89 (up from NT$1.61 in FY 2023). Revenue: NT$1.48b (up 8.9% from FY 2023). Net income: NT$573.5m (up 11% from FY 2023). Profit margin: 39% (in line with FY 2023). Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings.お知らせ • Mar 13Formosan Rubber Group Inc., Annual General Meeting, Jun 13, 2025Formosan Rubber Group Inc., Annual General Meeting, Jun 13, 2025, at 09:30 Taipei Standard Time. Location: 3 floor no,1, ch`ao feng rd., san huo li, longtan district, taoyuan city Taiwanお知らせ • Mar 12Formosan Rubber Group Inc. Approves Distribution for the Year Ended December 31, 2024Formosan Rubber Group Inc.'s Board of Directors approved distribution of TWD 1.4 per share or total of TWD 425,030,760 for the year ended December 31, 2024.お知らせ • Mar 04Formosan Rubber Group Inc. to Report Q4, 2024 Results on Mar 11, 2025Formosan Rubber Group Inc. announced that they will report Q4, 2024 results on Mar 11, 2025New Risk • Dec 05New minor risk - Earnings qualityThe company has large one-off items impacting its financial results. One-off items were 23% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 5.0% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results.Reported Earnings • Nov 18Third quarter 2024 earnings released: EPS: NT$0.65 (vs NT$0.73 in 3Q 2023)Third quarter 2024 results: EPS: NT$0.65 (down from NT$0.73 in 3Q 2023). Revenue: NT$381.4m (up 28% from 3Q 2023). Net income: NT$198.4m (down 4.3% from 3Q 2023). Profit margin: 52% (down from 70% in 3Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has remained flat, which means it is well ahead of earnings.Buy Or Sell Opportunity • Nov 12Now 20% undervalued after recent price dropOver the last 90 days, the stock has fallen 3.2% to NT$25.70. The fair value is estimated to be NT$32.20, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 32% over the last 3 years. Earnings per share has declined by 16%.Buy Or Sell Opportunity • Oct 11Now 20% undervalued after recent price dropOver the last 90 days, the stock has fallen 4.1% to NT$25.65. The fair value is estimated to be NT$32.25, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 32% over the last 3 years. Earnings per share has declined by 16%.Buy Or Sell Opportunity • Sep 20Now 20% undervalued after recent price dropOver the last 90 days, the stock has fallen 4.8% to NT$25.85. The fair value is estimated to be NT$32.37, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 32% over the last 3 years. Earnings per share has declined by 16%.Buy Or Sell Opportunity • Sep 04Now 21% undervalued after recent price dropOver the last 90 days, the stock has fallen 2.3% to NT$25.75. The fair value is estimated to be NT$32.51, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 32% over the last 3 years. Earnings per share has declined by 16%.New Risk • Sep 01New minor risk - Earnings qualityThe company has large one-off items impacting its financial results. One-off items were 29% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 1.4% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results.New Risk • Aug 15New major risk - Revenue and earnings growthEarnings have declined by 1.4% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 1.4% per year over the past 5 years. Minor Risk Paying a dividend despite having no free cash flows.お知らせ • Jul 31Formosan Rubber Group Inc. to Report Q2, 2024 Results on Aug 07, 2024Formosan Rubber Group Inc. announced that they will report Q2, 2024 results on Aug 07, 2024Buy Or Sell Opportunity • Jul 11Now 20% overvalued after recent price riseOver the last 90 days, the stock has risen 2.8% to NT$26.15. The fair value is estimated to be NT$21.77, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 32% over the last 3 years. Earnings per share has declined by 15%.Upcoming Dividend • Jun 25Upcoming dividend of NT$1.30 per shareEligible shareholders must have bought the stock before 01 July 2024. Payment date: 23 July 2024. Payout ratio is a comfortable 73% and this is well supported by cash flows. Trailing yield: 4.8%. Within top quartile of Taiwanese dividend payers (4.3%). Higher than average of industry peers (2.2%).Declared Dividend • Jun 11Dividend of NT$1.30 announcedShareholders will receive a dividend of NT$1.30. Ex-date: 1st July 2024 Payment date: 23rd July 2024 Dividend yield will be 8.6%, which is higher than the industry average of 4.0%. Sustainability & Growth Dividend is covered by both earnings (73% earnings payout ratio) and cash flows (64% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. Earnings per share has grown by 18% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover.Reported Earnings • May 19First quarter 2024 earnings released: EPS: NT$0.35 (vs NT$0.17 in 1Q 2023)First quarter 2024 results: EPS: NT$0.35 (up from NT$0.17 in 1Q 2023). Revenue: NT$271.4m (down 19% from 1Q 2023). Net income: NT$107.7m (up 110% from 1Q 2023). Profit margin: 40% (up from 15% in 1Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings.お知らせ • May 01Formosan Rubber Group Inc. to Report Q1, 2024 Results on May 07, 2024Formosan Rubber Group Inc. announced that they will report Q1, 2024 results at 9:00 AM, Taipei Standard Time on May 07, 2024Buy Or Sell Opportunity • Apr 22Now 21% overvalued after recent price riseOver the last 90 days, the stock has risen 8.2% to NT$25.70. The fair value is estimated to be NT$21.33, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 30% over the last 3 years. Earnings per share has declined by 15%.分析記事 • Apr 02Formosan Rubber Group's (TWSE:2107) Sluggish Earnings Might Be Just The Beginning Of Its ProblemsFormosan Rubber Group Inc.'s ( TWSE:2107 ) recent weak earnings report didn't cause a big stock movement. Our analysis...Reported Earnings • Mar 28Full year 2023 earnings released: EPS: NT$1.61 (vs NT$2.33 in FY 2022)Full year 2023 results: EPS: NT$1.61 (down from NT$2.33 in FY 2022). Revenue: NT$1.36b (down 30% from FY 2022). Net income: NT$518.9m (down 27% from FY 2022). Profit margin: 38% (up from 37% in FY 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings.お知らせ • Mar 14Formosan Rubber Group Inc. Approves Distribution for the Year Ended December 31, 2023Formosan Rubber Group Inc. approved Distribution for the year ended December 31, 2023. The company announced appropriations of earnings in cash dividends to shareholders of TWD 1.3 per share. Total amount of cash distributed to shareholders TWD 394,671,420. Per value of common stock is TWD 10.お知らせ • Mar 13Formosan Rubber Group Inc., Annual General Meeting, Jun 07, 2024Formosan Rubber Group Inc., Annual General Meeting, Jun 07, 2024. Location: No.1, Chaofeng Rd., Longtan Dist., Taoyuan City 325 dquarters conference room 3F Taiwan Agenda: To consider 2023 Business Report; to consider Inspection Report of Audit Committee of 2023; to consider Distribution of the 2023 Compensation of Employees and Directors; to consider Report on the distribution of cash dividends for year 2023; to consider Status of Land Development; to consider Report on the Establishment of Ethics and Conduct for the Company; to consider Report on the Establishment of Ethical Corporate Management Best Practice Principles for the Company; to consider 2023 Business Report and Financial Statements; to consider The Proposal for Distribution of 2023 Profits.Reported Earnings • Nov 08Third quarter 2023 earnings released: EPS: NT$0.65 (vs NT$1.05 in 3Q 2022)Third quarter 2023 results: EPS: NT$0.65 (down from NT$1.05 in 3Q 2022). Revenue: NT$297.0m (down 23% from 3Q 2022). Net income: NT$207.2m (down 35% from 3Q 2022). Profit margin: 70% (down from 83% in 3Q 2022). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings.お知らせ • Sep 23Formosan Rubber Group Inc. Announces Member of Remuneration Committee ChangesFormosan Rubber Group Inc. announced the resignation of HSIAO, SHENG HSIEN as Member of Remuneration Committee, effective September 22, 2023. HSIAO, SHENG HSIEN is President of Formosa & CPAs. The company announced the appointment of LIN, YING-JI as Member of Remuneration Committee, effective September 22, 2023. LIN, YING-JI is lawyer.Upcoming Dividend • Aug 31Upcoming dividend of NT$1.00 per share at 5.5% yieldEligible shareholders must have bought the stock before 07 September 2023. Payment date: 18 September 2023. Payout ratio is a comfortable 64% but the company is not cash flow positive. Trailing yield: 5.5%. Lower than top quartile of Taiwanese dividend payers (5.6%). Higher than average of industry peers (3.8%).Reported Earnings • Aug 09Second quarter 2023 earnings released: EPS: NT$0.75 (vs NT$0.63 in 2Q 2022)Second quarter 2023 results: EPS: NT$0.75 (up from NT$0.63 in 2Q 2022). Revenue: NT$421.0m (down 20% from 2Q 2022). Net income: NT$253.9m (up 18% from 2Q 2022). Profit margin: 60% (up from 41% in 2Q 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings.お知らせ • Jul 01Formosan Rubber Group Inc. Announces Resignation of Hsiao, Sheng Hsien as Independent DirectorFormosan Rubber Group Inc. received formal resignation letter from HSIAO, SHENG HSIEN as independent director on June 30, 2023, to resign the commission of independent director due to personal reason and effective from July 1, 2023. Resume of the previous position holder: President of Formosa & CPAs.Upcoming Dividend • Jun 28Upcoming dividend of NT$1.20 per share at 5.4% yieldEligible shareholders must have bought the stock before 05 July 2023. Payment date: 27 July 2023. Payout ratio is a comfortable 68% but the company is not cash flow positive. Trailing yield: 5.4%. Lower than top quartile of Taiwanese dividend payers (5.5%). Higher than average of industry peers (3.6%).お知らせ • Jun 11Formosan Rubber Group Inc. Announces Cash Dividend, Payable on July 27, 2023Formosan Rubber Group Inc. announced that at the shareholders meeting held on June 9, 2023, the company approved the cash dividends TWD 1.2 per share. Payment date of cash dividend distribution is July 27, 2023. Ex-rights (ex-dividend) record date is July 11, 2023.Reported Earnings • Mar 31Full year 2022 earnings released: EPS: NT$2.09 (vs NT$2.27 in FY 2021)Full year 2022 results: EPS: NT$2.09 (down from NT$2.27 in FY 2021). Revenue: NT$1.94b (down 31% from FY 2021). Net income: NT$711.7m (down 8.5% from FY 2021). Profit margin: 37% (up from 28% in FY 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 13% per year, which means it is tracking significantly ahead of earnings growth.Buying Opportunity • Mar 16Now 21% undervaluedThe stock has been flat over the last 90 days. The fair value is estimated to be NT$27.70, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 4.5% over the last 3 years. Earnings per share has grown by 10%.Board Change • Nov 16Less than half of directors are independentNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 6 highly experienced directors. 4 independent directors (6 non-independent directors). Independent Director Chun-Lai Wu was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.Reported Earnings • Aug 16Second quarter 2022 earnings released: EPS: NT$0.63 (vs NT$0.44 in 2Q 2021)Second quarter 2022 results: EPS: NT$0.63 (up from NT$0.44 in 2Q 2021). Revenue: NT$524.4m (down 9.3% from 2Q 2021). Net income: NT$216.1m (up 42% from 2Q 2021). Profit margin: 41% (up from 26% in 2Q 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth.お知らせ • Jul 03Formosan Rubber Group Inc. Appoints Hsu, Cheng Tsai as Chief Strategy OfficerFormosan Rubber Group Inc. appointed Hsu, Cheng Tsai as Chief Strategy Officer effective July 1, 2022.Upcoming Dividend • Jun 24Upcoming dividend of NT$1.20 per shareEligible shareholders must have bought the stock before 01 July 2022. Payment date: 28 July 2022. Payout ratio is a comfortable 57% and this is well supported by cash flows. Trailing yield: 5.6%. Lower than top quartile of Taiwanese dividend payers (6.4%). Lower than average of industry peers (7.0%).お知らせ • Jun 15Formosan Rubber Group Inc. Announces Changes in Remuneration CommitteeFormosan Rubber Group Inc. announced changes in remuneration committee. Name of the previous position holder: (1)CHEN, CHU-SHENG (2)HSIAO, SHENG HSIEN (3)WU, CHUN LAI to Name of the new position holder: (1)WU, CHUN LAI (2)HSIAO, SHENG HSIEN (3)YAO, YU LIN. Resume of the previous position holder: (1)CHEN, CHU-SHENG: Independent director of the Company and General Manager of Furen Enterprise Management Co. Ltd. (2)HSIAO, SHENG HSIEN: Independent director of the Company and President of Formosa & CPAs. (3)WU, CHUN LAI: Independent director of the Company and CEO of Taiwan Active Aging Association. Resume of the new position holder: (1)WU, CHUN LAI: Independent director of the Company and CEO of Taiwan Active Aging Association. (2)HSIAO, SHENG HSIEN: Independent director of the Company and President of Formosa & CPAs. (3)YAO, YU LIN: Independent director of the Company and Partner of ShineWing CPAs Taiwan. Effective date of the new member: June 14, 2022.お知らせ • Jun 09Formosan Rubber Group Inc. Announces Changes in Audit ComitteeFormosan Rubber Group Inc. announced changes in audit comittee. The company has made changes by replacing the committee members from HSIAO, SHENG HSIEN: Independent director of the Company and President of Formosa & CPAs. (2)CHEN, CHU-SHENG: Independent director of the Company and General Manager of Furen Enterprise Management Co. Ltd. (3)WU, CHUN LAI: Independent director of the Company and CEO of Taiwan Active Aging Association. to HSIAO, SHENG HSIEN: Independent director of the Company and President of Formosa & CPAs. (2)WU, CHUN LAI: Independent director of the Company and CEO of Taiwan Active Aging Association. (3)YAO, YU LIN: Independent director of the Company and Partner of ShineWing Taiwan.Reported Earnings • May 14First quarter 2022 earnings released: EPS: NT$0.48 (vs NT$0.63 in 1Q 2021)First quarter 2022 results: EPS: NT$0.48 (down from NT$0.63 in 1Q 2021). Revenue: NT$584.9m (down 37% from 1Q 2021). Net income: NT$164.4m (down 24% from 1Q 2021). Profit margin: 28% (up from 23% in 1Q 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth.Board Change • Apr 27Less than half of directors are independentFollowing the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 6 non-independent directors. Independent Director Chun-Lai Wu was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.Reported Earnings • Nov 11Third quarter 2021 earnings released: EPS NT$0.60 (vs NT$1.09 in 3Q 2020)The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$571.0m (down 35% from 3Q 2020). Net income: NT$206.2m (down 45% from 3Q 2020). Profit margin: 36% (down from 43% in 3Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth.Upcoming Dividend • Aug 17Upcoming dividend of NT$1.50 per shareEligible shareholders must have bought the stock before 24 August 2021. Payment date: 17 September 2021. Trailing yield: 6.4%. Within top quartile of Taiwanese dividend payers (5.2%). Higher than average of industry peers (2.9%).Reported Earnings • Aug 13Second quarter 2021 earnings released: EPS NT$0.44 (vs NT$0.49 in 2Q 2020)The company reported a poor second quarter result with weaker earnings and profit margins, although revenues were flat. Second quarter 2021 results: Revenue: NT$578.2m (flat on 2Q 2020). Net income: NT$151.9m (down 11% from 2Q 2020). Profit margin: 26% (down from 30% in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 53% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth.Reported Earnings • May 13First quarter 2021 earnings released: EPS NT$0.63 (vs NT$0.73 in 1Q 2020)The company reported a poor first quarter result with weaker earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$934.4m (down 4.1% from 1Q 2020). Net income: NT$215.6m (down 15% from 1Q 2020). Profit margin: 23% (down from 26% in 1Q 2020). Over the last 3 years on average, earnings per share has increased by 60% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth.Reported Earnings • Apr 04Full year 2020 earnings released: EPS NT$2.62 (vs NT$1.54 in FY 2019)The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$3.28b (up 22% from FY 2019). Net income: NT$901.7m (up 67% from FY 2019). Profit margin: 28% (up from 20% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 65% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth.分析記事 • Mar 24Here's What To Make Of Formosan Rubber Group's (TPE:2107) Decelerating Rates Of ReturnFinding a business that has the potential to grow substantially is not easy, but it is possible if we look at a few key...Reported Earnings • Mar 20Full year 2020 earnings released: EPS NT$2.62 (vs NT$1.54 in FY 2019)The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$3.28b (up 22% from FY 2019). Net income: NT$901.7m (up 67% from FY 2019). Profit margin: 28% (up from 20% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 65% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth.分析記事 • Feb 14These 4 Measures Indicate That Formosan Rubber Group (TPE:2107) Is Using Debt SafelyDavid Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...分析記事 • Jan 28Is Formosan Rubber Group Inc. (TPE:2107) An Attractive Dividend Stock?Could Formosan Rubber Group Inc. ( TPE:2107 ) be an attractive dividend share to own for the long haul? Investors are...分析記事 • Jan 11Shareholders Of Formosan Rubber Group (TPE:2107) Must Be Happy With Their 71% ReturnBy buying an index fund, investors can approximate the average market return. But if you buy good businesses at...分析記事 • Dec 24Should We Be Excited About The Trends Of Returns At Formosan Rubber Group (TPE:2107)?If you're looking for a multi-bagger, there's a few things to keep an eye out for. Ideally, a business will show two...分析記事 • Dec 04Formosan Rubber Group's (TPE:2107) Earnings Are Growing But Is There More To The Story?Broadly speaking, profitable businesses are less risky than unprofitable ones. Having said that, sometimes statutory...Valuation Update With 7 Day Price Move • Nov 23Market bids up stock over the past weekAfter last week's 18% share price gain to NT$25.80, the stock is trading at a trailing P/E ratio of 10x, up from the previous P/E ratio of 8.5x. This compares to an average P/E of 19x in the Chemicals industry in Taiwan. Total returns to shareholders over the past three years are 99%.Is New 90 Day High Low • Nov 17New 90-day high: NT$22.85The company is up 24% from its price of NT$18.50 on 19 August 2020. The Taiwanese market is up 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 6.0% over the same period.Reported Earnings • Nov 13Third quarter 2020 earnings released: EPS NT$1.09The company reported a solid third quarter result with improved earnings and revenues, although profit margins were weaker. Third quarter 2020 results: Revenue: NT$879.0m (up 57% from 3Q 2019). Net income: NT$375.7m (up 51% from 3Q 2019). Profit margin: 43% (down from 44% in 3Q 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 59% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth.収支内訳Formosan Rubber Group の稼ぎ方とお金の使い方。LTMベースの直近の報告された収益に基づく。収益と収入の歴史TWSE:2107 収益、費用、利益 ( )TWD Millions日付収益収益G+A経費研究開発費31 Mar 261,378436202931 Dec 251,4445082001030 Sep 251,365491202930 Jun 251,435509205931 Mar 251,602608214931 Dec 241,4815732151030 Sep 241,4295502131030 Jun 241,3455592221031 Mar 241,2945752171031 Dec 231,360519211930 Sep 231,4965242341030 Jun 231,586636232931 Mar 231,689599238931 Dec 221,9377122441030 Sep 222,2089042311030 Jun 222,3927912261031 Mar 222,4457272251131 Dec 212,7957782461030 Sep 212,9356752501030 Jun 213,2438442601031 Mar 213,2428642481031 Dec 203,2829022421030 Sep 203,0888912301030 Jun 202,7687632301131 Mar 203,1527552421231 Dec 192,7025392251330 Sep 192,3974732231430 Jun 192,1673752121431 Mar 191,5682702091331 Dec 181,3742162161330 Sep 181,4621912141330 Jun 181,5791922251431 Mar 181,5881722231531 Dec 171,7271892201430 Sep 171,8563782231430 Jun 171,8102982091431 Mar 171,8133032101431 Dec 161,7083272261430 Sep 161,7613362171630 Jun 161,7075202171631 Mar 161,9004682321631 Dec 152,2917902271730 Sep 152,5351,0112581730 Jun 153,4361,61428718質の高い収益: 2107は 高品質の収益 を持っています。利益率の向上: 2107の現在の純利益率 (31.6%)は、昨年(37.9%)よりも低くなっています。フリー・キャッシュフローと収益の比較過去の収益成長分析収益動向: 2107の収益は過去 5 年間で年間11.8%減少しました。成長の加速: 2107は過去 1 年間の収益成長がマイナスであったため、5 年間の平均と比較することはできません。収益対業界: 2107は過去 1 年間で収益成長率がマイナス ( -28.3% ) となったため、 Chemicals業界平均 ( -7.2% ) と比較することが困難です。株主資本利益率高いROE: 2107の 自己資本利益率 ( 3.3% ) は 低い とみなされます。総資産利益率使用総資本利益率過去の好業績企業の発掘7D1Y7D1Y7D1YMaterials 、過去の業績が好調な企業。View Financial Health企業分析と財務データの現状データ最終更新日（UTC時間）企業分析2026/05/22 03:56終値2026/05/22 00:00収益2026/03/31年間収益2025/12/31データソース企業分析に使用したデータはS&P Global Market Intelligence LLC のものです。本レポートを作成するための分析モデルでは、以下のデータを使用しています。データは正規化されているため、ソースが利用可能になるまでに時間がかかる場合があります。パッケージデータタイムフレーム米国ソース例会社財務10年損益計算書キャッシュ・フロー計算書貸借対照表SECフォーム10-KSECフォーム10-Qアナリストのコンセンサス予想+プラス3年予想財務アナリストの目標株価アナリストリサーチレポートBlue Matrix市場価格30年株価配当、分割、措置ICEマーケットデータSECフォームS-1所有権10年トップ株主インサイダー取引SECフォーム4SECフォーム13Dマネジメント10年リーダーシップ・チーム取締役会SECフォーム10-KSECフォームDEF 14A主な進展10年会社からのお知らせSECフォーム8-K* 米国証券を対象とした例であり、非米国証券については、同等の規制書式および情報源を使用。特に断りのない限り、すべての財務データは1年ごとの期間に基づいていますが、四半期ごとに更新されます。これは、TTM（Trailing Twelve Month）またはLTM（Last Twelve Month）データとして知られています。詳細はこちら。分析モデルとスノーフレーク本レポートを生成するために使用した分析モデルの詳細は当社のGithubページでご覧いただけます。また、レポートの使用方法に関するガイドやYoutubeのチュートリアルも掲載しています。シンプリー・ウォールストリート分析モデルを設計・構築した世界トップクラスのチームについてご紹介します。業界およびセクターの指標私たちの業界とセクションの指標は、Simply Wall Stによって6時間ごとに計算されます。アナリスト筋Formosan Rubber Group Inc. 0 これらのアナリストのうち、弊社レポートのインプットとして使用した売上高または利益の予想を提出したのは、 。アナリストの投稿は一日中更新されます。1 アナリスト機関Wanchen ChangMasterlink Securities Investment Advisory
Reported Earnings • May 13First quarter 2026 earnings released: EPS: NT$0.23 (vs NT$0.47 in 1Q 2025)First quarter 2026 results: EPS: NT$0.23 (down from NT$0.47 in 1Q 2025). Revenue: NT$327.5m (down 17% from 1Q 2025). Net income: NT$70.1m (down 51% from 1Q 2025). Profit margin: 21% (down from 36% in 1Q 2025). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings.
Reported Earnings • Mar 11Full year 2025 earnings released: EPS: NT$1.67 (vs NT$1.89 in FY 2024)Full year 2025 results: EPS: NT$1.67 (down from NT$1.89 in FY 2024). Revenue: NT$1.44b (down 2.5% from FY 2024). Net income: NT$507.8m (down 11% from FY 2024). Profit margin: 35% (down from 39% in FY 2024). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has remained flat, which means it is well ahead of earnings.
Reported Earnings • Nov 12Third quarter 2025 earnings released: EPS: NT$0.59 (vs NT$0.65 in 3Q 2024)Third quarter 2025 results: EPS: NT$0.59 (down from NT$0.65 in 3Q 2024). Revenue: NT$310.6m (down 19% from 3Q 2024). Net income: NT$179.4m (down 9.5% from 3Q 2024). Profit margin: 58% (up from 52% in 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has remained flat, which means it is well ahead of earnings.
Reported Earnings • Aug 17Second quarter 2025 earnings released: EPS: NT$0.46 (vs NT$0.78 in 2Q 2024)Second quarter 2025 results: EPS: NT$0.46 (down from NT$0.78 in 2Q 2024). Revenue: NT$304.2m (down 36% from 2Q 2024). Net income: NT$139.4m (down 41% from 2Q 2024). Profit margin: 46% (down from 50% in 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings.
Reported Earnings • May 10First quarter 2025 earnings released: EPS: NT$0.47 (vs NT$0.35 in 1Q 2024)First quarter 2025 results: EPS: NT$0.47 (up from NT$0.35 in 1Q 2024). Revenue: NT$392.6m (up 45% from 1Q 2024). Net income: NT$141.9m (up 32% from 1Q 2024). Profit margin: 36% (down from 40% in 1Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings.
お知らせ • May 01Formosan Rubber Group Inc. to Report Q1, 2025 Results on May 09, 2025Formosan Rubber Group Inc. announced that they will report Q1, 2025 results on May 09, 2025
Reported Earnings • May 13First quarter 2026 earnings released: EPS: NT$0.23 (vs NT$0.47 in 1Q 2025)First quarter 2026 results: EPS: NT$0.23 (down from NT$0.47 in 1Q 2025). Revenue: NT$327.5m (down 17% from 1Q 2025). Net income: NT$70.1m (down 51% from 1Q 2025). Profit margin: 21% (down from 36% in 1Q 2025). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings.
Buy Or Sell Opportunity • May 08Now 20% undervaluedOver the last 90 days, the stock has risen 5.7% to NT$26.10. The fair value is estimated to be NT$32.64, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 6.6% over the last 3 years. Earnings per share has declined by 7.3%.
Buy Or Sell Opportunity • Mar 23Now 20% undervaluedOver the last 90 days, the stock has risen 2.7% to NT$25.10. The fair value is estimated to be NT$31.40, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 6.6% over the last 3 years. Earnings per share has declined by 7.4%.
お知らせ • Mar 11Formosan Rubber Group Inc., Annual General Meeting, Jun 12, 2026Formosan Rubber Group Inc., Annual General Meeting, Jun 12, 2026. Location: 3 floor no,1, ch`ao feng rd., san huo li, longtan district, taoyuan city Taiwan
Reported Earnings • Mar 11Full year 2025 earnings released: EPS: NT$1.67 (vs NT$1.89 in FY 2024)Full year 2025 results: EPS: NT$1.67 (down from NT$1.89 in FY 2024). Revenue: NT$1.44b (down 2.5% from FY 2024). Net income: NT$507.8m (down 11% from FY 2024). Profit margin: 35% (down from 39% in FY 2024). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has remained flat, which means it is well ahead of earnings.
Reported Earnings • Nov 12Third quarter 2025 earnings released: EPS: NT$0.59 (vs NT$0.65 in 3Q 2024)Third quarter 2025 results: EPS: NT$0.59 (down from NT$0.65 in 3Q 2024). Revenue: NT$310.6m (down 19% from 3Q 2024). Net income: NT$179.4m (down 9.5% from 3Q 2024). Profit margin: 58% (up from 52% in 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has remained flat, which means it is well ahead of earnings.
Reported Earnings • Aug 17Second quarter 2025 earnings released: EPS: NT$0.46 (vs NT$0.78 in 2Q 2024)Second quarter 2025 results: EPS: NT$0.46 (down from NT$0.78 in 2Q 2024). Revenue: NT$304.2m (down 36% from 2Q 2024). Net income: NT$139.4m (down 41% from 2Q 2024). Profit margin: 46% (down from 50% in 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings.
お知らせ • Jun 14Formosan Rubber Group Inc. Announces Board ChangesFormosan Rubber Group Inc. announced the appointment of HSU, CHENG CHI as director and HUANG, MING FA as independent director, at the AGM held on June 13, 2025. Resume of the previous position holder: Directors: HSU, CHENG TSAI: Chairperson of the company. HSU, CHENG CHI: Natural-person director and General Manager of the company. (3)HSU, CHENG HSIN: Representative of Institutional director of the company. (4)HSU, WEI JYH: Representative of Institutional director of the company. (5)LIN, KUN ZONG: Representative of Institutional director of the company. (6)CHU, LUNG TSUNG: Representative of Institutional director of the company. Independent Directors: (1)WU, CHUN LAI: President of the Strong Generation Association for Education, @ Science and Culture. (2)YAO, YU LIN: Partner of ShineWing Taiwan. (3)CHU, SHIH-YI: independent director of the company. 5.Title and name of the new position holder: Directors: (1)HSU, CHENG TSAI (2)HSU, CHENG CHI (3)CHUAN HSIN FENG Ltd. (Representative:HSU, CHENG HSIN) (4)PAC-NET CONSTRUCTION CORPORATIO(Representative:HSU, WEI JYH) (5)FORMOSAN CONSTRUCTION CORPORATION(Representative:LIN, KUN ZONG) (6)ASCEND GEAR INTERNATIONAL INC.(Representative:CHU, LUNG TSUNG) Independent Directors: (1)YAO, YU LIN (2)CHU, SHIH-YI (3)HUANG, MING FA 6.Resume of the new position holder: Directors: (1)HSU, CHENG TSAI: Chairperson of the company. (2)HSU, CHENG CHI: Natural-person director and General Manager of the company. (3)HSU, CHENG HSIN: Representative of Institutional director of the company. (4)HSU, WEI JYH: Representative of Institutional director of the company. (5)LIN, KUN ZONG: Representative of Institutional director of the company. (6)CHU, LUNG TSUNG: Representative of Institutional director of the company. Independent Directors: (1)YAO, YU LIN: Partner of ShineWing Taiwan. (2)CHU, SHIH-YI: Independent director of the company. (3)HUANG, MING FA: Managing Director of TAH KONG CHEMICAL INDUSTRIAL CORP.
Upcoming Dividend • Jun 09Upcoming dividend of NT$1.40 per shareEligible shareholders must have bought the stock before 16 June 2025. Payment date: 09 July 2025. Payout ratio is a comfortable 70% and this is well supported by cash flows. Trailing yield: 5.4%. Within top quartile of Taiwanese dividend payers (5.2%). Higher than average of industry peers (3.0%).
Reported Earnings • May 10First quarter 2025 earnings released: EPS: NT$0.47 (vs NT$0.35 in 1Q 2024)First quarter 2025 results: EPS: NT$0.47 (up from NT$0.35 in 1Q 2024). Revenue: NT$392.6m (up 45% from 1Q 2024). Net income: NT$141.9m (up 32% from 1Q 2024). Profit margin: 36% (down from 40% in 1Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings.
お知らせ • May 01Formosan Rubber Group Inc. to Report Q1, 2025 Results on May 09, 2025Formosan Rubber Group Inc. announced that they will report Q1, 2025 results on May 09, 2025
Reported Earnings • Apr 01Full year 2024 earnings released: EPS: NT$1.89 (vs NT$1.61 in FY 2023)Full year 2024 results: EPS: NT$1.89 (up from NT$1.61 in FY 2023). Revenue: NT$1.48b (up 8.9% from FY 2023). Net income: NT$573.5m (up 11% from FY 2023). Profit margin: 39% (in line with FY 2023). Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings.
お知らせ • Mar 13Formosan Rubber Group Inc., Annual General Meeting, Jun 13, 2025Formosan Rubber Group Inc., Annual General Meeting, Jun 13, 2025, at 09:30 Taipei Standard Time. Location: 3 floor no,1, ch`ao feng rd., san huo li, longtan district, taoyuan city Taiwan
お知らせ • Mar 12Formosan Rubber Group Inc. Approves Distribution for the Year Ended December 31, 2024Formosan Rubber Group Inc.'s Board of Directors approved distribution of TWD 1.4 per share or total of TWD 425,030,760 for the year ended December 31, 2024.
お知らせ • Mar 04Formosan Rubber Group Inc. to Report Q4, 2024 Results on Mar 11, 2025Formosan Rubber Group Inc. announced that they will report Q4, 2024 results on Mar 11, 2025
New Risk • Dec 05New minor risk - Earnings qualityThe company has large one-off items impacting its financial results. One-off items were 23% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 5.0% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results.
Reported Earnings • Nov 18Third quarter 2024 earnings released: EPS: NT$0.65 (vs NT$0.73 in 3Q 2023)Third quarter 2024 results: EPS: NT$0.65 (down from NT$0.73 in 3Q 2023). Revenue: NT$381.4m (up 28% from 3Q 2023). Net income: NT$198.4m (down 4.3% from 3Q 2023). Profit margin: 52% (down from 70% in 3Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has remained flat, which means it is well ahead of earnings.
Buy Or Sell Opportunity • Nov 12Now 20% undervalued after recent price dropOver the last 90 days, the stock has fallen 3.2% to NT$25.70. The fair value is estimated to be NT$32.20, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 32% over the last 3 years. Earnings per share has declined by 16%.
Buy Or Sell Opportunity • Oct 11Now 20% undervalued after recent price dropOver the last 90 days, the stock has fallen 4.1% to NT$25.65. The fair value is estimated to be NT$32.25, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 32% over the last 3 years. Earnings per share has declined by 16%.
Buy Or Sell Opportunity • Sep 20Now 20% undervalued after recent price dropOver the last 90 days, the stock has fallen 4.8% to NT$25.85. The fair value is estimated to be NT$32.37, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 32% over the last 3 years. Earnings per share has declined by 16%.
Buy Or Sell Opportunity • Sep 04Now 21% undervalued after recent price dropOver the last 90 days, the stock has fallen 2.3% to NT$25.75. The fair value is estimated to be NT$32.51, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 32% over the last 3 years. Earnings per share has declined by 16%.
New Risk • Sep 01New minor risk - Earnings qualityThe company has large one-off items impacting its financial results. One-off items were 29% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 1.4% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results.
New Risk • Aug 15New major risk - Revenue and earnings growthEarnings have declined by 1.4% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 1.4% per year over the past 5 years. Minor Risk Paying a dividend despite having no free cash flows.
お知らせ • Jul 31Formosan Rubber Group Inc. to Report Q2, 2024 Results on Aug 07, 2024Formosan Rubber Group Inc. announced that they will report Q2, 2024 results on Aug 07, 2024
Buy Or Sell Opportunity • Jul 11Now 20% overvalued after recent price riseOver the last 90 days, the stock has risen 2.8% to NT$26.15. The fair value is estimated to be NT$21.77, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 32% over the last 3 years. Earnings per share has declined by 15%.
Upcoming Dividend • Jun 25Upcoming dividend of NT$1.30 per shareEligible shareholders must have bought the stock before 01 July 2024. Payment date: 23 July 2024. Payout ratio is a comfortable 73% and this is well supported by cash flows. Trailing yield: 4.8%. Within top quartile of Taiwanese dividend payers (4.3%). Higher than average of industry peers (2.2%).
Declared Dividend • Jun 11Dividend of NT$1.30 announcedShareholders will receive a dividend of NT$1.30. Ex-date: 1st July 2024 Payment date: 23rd July 2024 Dividend yield will be 8.6%, which is higher than the industry average of 4.0%. Sustainability & Growth Dividend is covered by both earnings (73% earnings payout ratio) and cash flows (64% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. Earnings per share has grown by 18% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover.
Reported Earnings • May 19First quarter 2024 earnings released: EPS: NT$0.35 (vs NT$0.17 in 1Q 2023)First quarter 2024 results: EPS: NT$0.35 (up from NT$0.17 in 1Q 2023). Revenue: NT$271.4m (down 19% from 1Q 2023). Net income: NT$107.7m (up 110% from 1Q 2023). Profit margin: 40% (up from 15% in 1Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings.
お知らせ • May 01Formosan Rubber Group Inc. to Report Q1, 2024 Results on May 07, 2024Formosan Rubber Group Inc. announced that they will report Q1, 2024 results at 9:00 AM, Taipei Standard Time on May 07, 2024
Buy Or Sell Opportunity • Apr 22Now 21% overvalued after recent price riseOver the last 90 days, the stock has risen 8.2% to NT$25.70. The fair value is estimated to be NT$21.33, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 30% over the last 3 years. Earnings per share has declined by 15%.
分析記事 • Apr 02Formosan Rubber Group's (TWSE:2107) Sluggish Earnings Might Be Just The Beginning Of Its ProblemsFormosan Rubber Group Inc.'s ( TWSE:2107 ) recent weak earnings report didn't cause a big stock movement. Our analysis...
Reported Earnings • Mar 28Full year 2023 earnings released: EPS: NT$1.61 (vs NT$2.33 in FY 2022)Full year 2023 results: EPS: NT$1.61 (down from NT$2.33 in FY 2022). Revenue: NT$1.36b (down 30% from FY 2022). Net income: NT$518.9m (down 27% from FY 2022). Profit margin: 38% (up from 37% in FY 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings.
お知らせ • Mar 14Formosan Rubber Group Inc. Approves Distribution for the Year Ended December 31, 2023Formosan Rubber Group Inc. approved Distribution for the year ended December 31, 2023. The company announced appropriations of earnings in cash dividends to shareholders of TWD 1.3 per share. Total amount of cash distributed to shareholders TWD 394,671,420. Per value of common stock is TWD 10.
お知らせ • Mar 13Formosan Rubber Group Inc., Annual General Meeting, Jun 07, 2024Formosan Rubber Group Inc., Annual General Meeting, Jun 07, 2024. Location: No.1, Chaofeng Rd., Longtan Dist., Taoyuan City 325 dquarters conference room 3F Taiwan Agenda: To consider 2023 Business Report; to consider Inspection Report of Audit Committee of 2023; to consider Distribution of the 2023 Compensation of Employees and Directors; to consider Report on the distribution of cash dividends for year 2023; to consider Status of Land Development; to consider Report on the Establishment of Ethics and Conduct for the Company; to consider Report on the Establishment of Ethical Corporate Management Best Practice Principles for the Company; to consider 2023 Business Report and Financial Statements; to consider The Proposal for Distribution of 2023 Profits.
Reported Earnings • Nov 08Third quarter 2023 earnings released: EPS: NT$0.65 (vs NT$1.05 in 3Q 2022)Third quarter 2023 results: EPS: NT$0.65 (down from NT$1.05 in 3Q 2022). Revenue: NT$297.0m (down 23% from 3Q 2022). Net income: NT$207.2m (down 35% from 3Q 2022). Profit margin: 70% (down from 83% in 3Q 2022). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings.
お知らせ • Sep 23Formosan Rubber Group Inc. Announces Member of Remuneration Committee ChangesFormosan Rubber Group Inc. announced the resignation of HSIAO, SHENG HSIEN as Member of Remuneration Committee, effective September 22, 2023. HSIAO, SHENG HSIEN is President of Formosa & CPAs. The company announced the appointment of LIN, YING-JI as Member of Remuneration Committee, effective September 22, 2023. LIN, YING-JI is lawyer.
Upcoming Dividend • Aug 31Upcoming dividend of NT$1.00 per share at 5.5% yieldEligible shareholders must have bought the stock before 07 September 2023. Payment date: 18 September 2023. Payout ratio is a comfortable 64% but the company is not cash flow positive. Trailing yield: 5.5%. Lower than top quartile of Taiwanese dividend payers (5.6%). Higher than average of industry peers (3.8%).
Reported Earnings • Aug 09Second quarter 2023 earnings released: EPS: NT$0.75 (vs NT$0.63 in 2Q 2022)Second quarter 2023 results: EPS: NT$0.75 (up from NT$0.63 in 2Q 2022). Revenue: NT$421.0m (down 20% from 2Q 2022). Net income: NT$253.9m (up 18% from 2Q 2022). Profit margin: 60% (up from 41% in 2Q 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings.
お知らせ • Jul 01Formosan Rubber Group Inc. Announces Resignation of Hsiao, Sheng Hsien as Independent DirectorFormosan Rubber Group Inc. received formal resignation letter from HSIAO, SHENG HSIEN as independent director on June 30, 2023, to resign the commission of independent director due to personal reason and effective from July 1, 2023. Resume of the previous position holder: President of Formosa & CPAs.
Upcoming Dividend • Jun 28Upcoming dividend of NT$1.20 per share at 5.4% yieldEligible shareholders must have bought the stock before 05 July 2023. Payment date: 27 July 2023. Payout ratio is a comfortable 68% but the company is not cash flow positive. Trailing yield: 5.4%. Lower than top quartile of Taiwanese dividend payers (5.5%). Higher than average of industry peers (3.6%).
お知らせ • Jun 11Formosan Rubber Group Inc. Announces Cash Dividend, Payable on July 27, 2023Formosan Rubber Group Inc. announced that at the shareholders meeting held on June 9, 2023, the company approved the cash dividends TWD 1.2 per share. Payment date of cash dividend distribution is July 27, 2023. Ex-rights (ex-dividend) record date is July 11, 2023.
Reported Earnings • Mar 31Full year 2022 earnings released: EPS: NT$2.09 (vs NT$2.27 in FY 2021)Full year 2022 results: EPS: NT$2.09 (down from NT$2.27 in FY 2021). Revenue: NT$1.94b (down 31% from FY 2021). Net income: NT$711.7m (down 8.5% from FY 2021). Profit margin: 37% (up from 28% in FY 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 13% per year, which means it is tracking significantly ahead of earnings growth.
Buying Opportunity • Mar 16Now 21% undervaluedThe stock has been flat over the last 90 days. The fair value is estimated to be NT$27.70, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 4.5% over the last 3 years. Earnings per share has grown by 10%.
Board Change • Nov 16Less than half of directors are independentNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 6 highly experienced directors. 4 independent directors (6 non-independent directors). Independent Director Chun-Lai Wu was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.
Reported Earnings • Aug 16Second quarter 2022 earnings released: EPS: NT$0.63 (vs NT$0.44 in 2Q 2021)Second quarter 2022 results: EPS: NT$0.63 (up from NT$0.44 in 2Q 2021). Revenue: NT$524.4m (down 9.3% from 2Q 2021). Net income: NT$216.1m (up 42% from 2Q 2021). Profit margin: 41% (up from 26% in 2Q 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth.
お知らせ • Jul 03Formosan Rubber Group Inc. Appoints Hsu, Cheng Tsai as Chief Strategy OfficerFormosan Rubber Group Inc. appointed Hsu, Cheng Tsai as Chief Strategy Officer effective July 1, 2022.
Upcoming Dividend • Jun 24Upcoming dividend of NT$1.20 per shareEligible shareholders must have bought the stock before 01 July 2022. Payment date: 28 July 2022. Payout ratio is a comfortable 57% and this is well supported by cash flows. Trailing yield: 5.6%. Lower than top quartile of Taiwanese dividend payers (6.4%). Lower than average of industry peers (7.0%).
お知らせ • Jun 15Formosan Rubber Group Inc. Announces Changes in Remuneration CommitteeFormosan Rubber Group Inc. announced changes in remuneration committee. Name of the previous position holder: (1)CHEN, CHU-SHENG (2)HSIAO, SHENG HSIEN (3)WU, CHUN LAI to Name of the new position holder: (1)WU, CHUN LAI (2)HSIAO, SHENG HSIEN (3)YAO, YU LIN. Resume of the previous position holder: (1)CHEN, CHU-SHENG: Independent director of the Company and General Manager of Furen Enterprise Management Co. Ltd. (2)HSIAO, SHENG HSIEN: Independent director of the Company and President of Formosa & CPAs. (3)WU, CHUN LAI: Independent director of the Company and CEO of Taiwan Active Aging Association. Resume of the new position holder: (1)WU, CHUN LAI: Independent director of the Company and CEO of Taiwan Active Aging Association. (2)HSIAO, SHENG HSIEN: Independent director of the Company and President of Formosa & CPAs. (3)YAO, YU LIN: Independent director of the Company and Partner of ShineWing CPAs Taiwan. Effective date of the new member: June 14, 2022.
お知らせ • Jun 09Formosan Rubber Group Inc. Announces Changes in Audit ComitteeFormosan Rubber Group Inc. announced changes in audit comittee. The company has made changes by replacing the committee members from HSIAO, SHENG HSIEN: Independent director of the Company and President of Formosa & CPAs. (2)CHEN, CHU-SHENG: Independent director of the Company and General Manager of Furen Enterprise Management Co. Ltd. (3)WU, CHUN LAI: Independent director of the Company and CEO of Taiwan Active Aging Association. to HSIAO, SHENG HSIEN: Independent director of the Company and President of Formosa & CPAs. (2)WU, CHUN LAI: Independent director of the Company and CEO of Taiwan Active Aging Association. (3)YAO, YU LIN: Independent director of the Company and Partner of ShineWing Taiwan.
Reported Earnings • May 14First quarter 2022 earnings released: EPS: NT$0.48 (vs NT$0.63 in 1Q 2021)First quarter 2022 results: EPS: NT$0.48 (down from NT$0.63 in 1Q 2021). Revenue: NT$584.9m (down 37% from 1Q 2021). Net income: NT$164.4m (down 24% from 1Q 2021). Profit margin: 28% (up from 23% in 1Q 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth.
Board Change • Apr 27Less than half of directors are independentFollowing the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 6 non-independent directors. Independent Director Chun-Lai Wu was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
Reported Earnings • Nov 11Third quarter 2021 earnings released: EPS NT$0.60 (vs NT$1.09 in 3Q 2020)The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$571.0m (down 35% from 3Q 2020). Net income: NT$206.2m (down 45% from 3Q 2020). Profit margin: 36% (down from 43% in 3Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth.
Upcoming Dividend • Aug 17Upcoming dividend of NT$1.50 per shareEligible shareholders must have bought the stock before 24 August 2021. Payment date: 17 September 2021. Trailing yield: 6.4%. Within top quartile of Taiwanese dividend payers (5.2%). Higher than average of industry peers (2.9%).
Reported Earnings • Aug 13Second quarter 2021 earnings released: EPS NT$0.44 (vs NT$0.49 in 2Q 2020)The company reported a poor second quarter result with weaker earnings and profit margins, although revenues were flat. Second quarter 2021 results: Revenue: NT$578.2m (flat on 2Q 2020). Net income: NT$151.9m (down 11% from 2Q 2020). Profit margin: 26% (down from 30% in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 53% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth.
Reported Earnings • May 13First quarter 2021 earnings released: EPS NT$0.63 (vs NT$0.73 in 1Q 2020)The company reported a poor first quarter result with weaker earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$934.4m (down 4.1% from 1Q 2020). Net income: NT$215.6m (down 15% from 1Q 2020). Profit margin: 23% (down from 26% in 1Q 2020). Over the last 3 years on average, earnings per share has increased by 60% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth.
Reported Earnings • Apr 04Full year 2020 earnings released: EPS NT$2.62 (vs NT$1.54 in FY 2019)The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$3.28b (up 22% from FY 2019). Net income: NT$901.7m (up 67% from FY 2019). Profit margin: 28% (up from 20% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 65% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth.
分析記事 • Mar 24Here's What To Make Of Formosan Rubber Group's (TPE:2107) Decelerating Rates Of ReturnFinding a business that has the potential to grow substantially is not easy, but it is possible if we look at a few key...
Reported Earnings • Mar 20Full year 2020 earnings released: EPS NT$2.62 (vs NT$1.54 in FY 2019)The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$3.28b (up 22% from FY 2019). Net income: NT$901.7m (up 67% from FY 2019). Profit margin: 28% (up from 20% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 65% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth.
分析記事 • Feb 14These 4 Measures Indicate That Formosan Rubber Group (TPE:2107) Is Using Debt SafelyDavid Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...
分析記事 • Jan 28Is Formosan Rubber Group Inc. (TPE:2107) An Attractive Dividend Stock?Could Formosan Rubber Group Inc. ( TPE:2107 ) be an attractive dividend share to own for the long haul? Investors are...
分析記事 • Jan 11Shareholders Of Formosan Rubber Group (TPE:2107) Must Be Happy With Their 71% ReturnBy buying an index fund, investors can approximate the average market return. But if you buy good businesses at...
分析記事 • Dec 24Should We Be Excited About The Trends Of Returns At Formosan Rubber Group (TPE:2107)?If you're looking for a multi-bagger, there's a few things to keep an eye out for. Ideally, a business will show two...
分析記事 • Dec 04Formosan Rubber Group's (TPE:2107) Earnings Are Growing But Is There More To The Story?Broadly speaking, profitable businesses are less risky than unprofitable ones. Having said that, sometimes statutory...
Valuation Update With 7 Day Price Move • Nov 23Market bids up stock over the past weekAfter last week's 18% share price gain to NT$25.80, the stock is trading at a trailing P/E ratio of 10x, up from the previous P/E ratio of 8.5x. This compares to an average P/E of 19x in the Chemicals industry in Taiwan. Total returns to shareholders over the past three years are 99%.
Is New 90 Day High Low • Nov 17New 90-day high: NT$22.85The company is up 24% from its price of NT$18.50 on 19 August 2020. The Taiwanese market is up 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 6.0% over the same period.
Reported Earnings • Nov 13Third quarter 2020 earnings released: EPS NT$1.09The company reported a solid third quarter result with improved earnings and revenues, although profit margins were weaker. Third quarter 2020 results: Revenue: NT$879.0m (up 57% from 3Q 2019). Net income: NT$375.7m (up 51% from 3Q 2019). Profit margin: 43% (down from 44% in 3Q 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 59% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth.