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1301

Formosa PlasticsTWSE:1301 Stock Report

Last Price

NT$107.50

Market Cap

NT$684.3b

7D

-0.9%

1Y

17.6%

Updated

20 Jan, 2022

Data

Company Financials +
1301 fundamental analysis
Snowflake Score
Valuation2/6
Future Growth0/6
Past Performance4/6
Financial Health6/6
Dividends3/6

1301 Stock Overview

Formosa Plastics Corporation produces and sells intermediate raw materials for plastics in Taiwan, Mainland China, and internationally.

Formosa Plastics Competitors

Nan Ya Plastics

TWSE:1303

NT$693.2b

Formosa Chemicals & Fibre

TWSE:1326

NT$466.8b

USI

TWSE:1304

NT$30.7b

Asia Polymer

TWSE:1308

NT$21.3b

Price History & Performance

Summary of all time highs, changes and price drops for Formosa Plastics
Historical stock prices
Current Share PriceNT$107.50
52 Week HighNT$121.00
52 Week LowNT$86.60
Beta0.62
1 Month Change3.87%
3 Month Change-2.27%
1 Year Change17.62%
3 Year Change7.50%
5 Year Change19.18%
Change since IPO373.17%

Recent News & Updates

Apr 17
Investors In Formosa Plastics Corporation (TPE:1301) Should Consider This, First

Investors In Formosa Plastics Corporation (TPE:1301) Should Consider This, First

Could Formosa Plastics Corporation ( TPE:1301 ) be an attractive dividend share to own for the long haul? Investors are...

Shareholder Returns

1301TW ChemicalsTW Market
7D-0.9%-1.7%-0.8%
1Y17.6%20.4%16.7%

Return vs Industry: 1301 underperformed the TW Chemicals industry which returned 20.4% over the past year.

Return vs Market: 1301 matched the TW Market which returned 16.7% over the past year.

Price Volatility

Is 1301's price volatile compared to industry and market?
1301 volatility
1301 Average Weekly Movement2.8%
Chemicals Industry Average Movement4.1%
Market Average Movement4.3%
10% most volatile stocks in TW Market8.5%
10% least volatile stocks in TW Market1.7%

Stable Share Price: 1301 is not significantly more volatile than the rest of TW stocks over the past 3 months, typically moving +/- 3% a week.

Volatility Over Time: 1301's weekly volatility (3%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
1954n/aJason Linhttps://www.fpc.com.tw

Formosa Plastics Corporation produces and sells intermediate raw materials for plastics in Taiwan, Mainland China, and internationally. Its plastic products include PVC resins, high density polyethylene resins, linear low density polyethylene resins, ethylene vinyl acetate copolymer resins, PE wax, polypropylene (PP), polyoxymethylene, and PP or PE-based masterbatches. The company also provides chemicals, such as liquid caustic soda, caustic soda solid, liquid chlorine, vinyl chloride monomers, ethylene dichloride, acrylonitrile, acetonitrile, methyl methacrylate, methacrylic acid, epichlorohydrin, methyl tertiary butyl ether, acrylic acid and esters, SAP chemicals, and n-butanol; and petrochemical products.

Formosa Plastics Fundamentals Summary

How do Formosa Plastics's earnings and revenue compare to its market cap?
1301 fundamental statistics
Market CapNT$684.32b
Earnings (TTM)NT$65.22b
Revenue (TTM)NT$253.83b

10.5x

P/E Ratio

2.7x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
1301 income statement (TTM)
RevenueNT$253.83b
Cost of RevenueNT$186.19b
Gross ProfitNT$67.63b
ExpensesNT$2.42b
EarningsNT$65.22b

Last Reported Earnings

Sep 30, 2021

Next Earnings Date

n/a

Earnings per share (EPS)10.24
Gross Margin26.65%
Net Profit Margin25.69%
Debt/Equity Ratio20.1%

How did 1301 perform over the long term?

See historical performance and comparison

Dividends

2.2%

Current Dividend Yield

23%

Payout Ratio

Valuation

Is Formosa Plastics undervalued compared to its fair value and its price relative to the market?

10.49x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: 1301 (NT$107.5) is trading above our estimate of fair value (NT$97.21)

Significantly Below Fair Value: 1301 is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: 1301 is good value based on its PE Ratio (10.5x) compared to the TW Chemicals industry average (18.8x).

PE vs Market: 1301 is good value based on its PE Ratio (10.5x) compared to the TW market (17x).


Price to Earnings Growth Ratio

PEG Ratio: 1301's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: 1301 is overvalued based on its PB Ratio (1.8x) compared to the TW Chemicals industry average (1.5x).


Future Growth

How is Formosa Plastics forecast to perform in the next 1 to 3 years based on estimates from 7 analysts?

-9.5%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 1301's earnings are forecast to decline over the next 3 years (-9.5% per year).

Earnings vs Market: 1301's earnings are forecast to decline over the next 3 years (-9.5% per year).

High Growth Earnings: 1301's earnings are forecast to decline over the next 3 years.

Revenue vs Market: 1301's revenue is expected to decline over the next 3 years (-2.2% per year).

High Growth Revenue: 1301's revenue is forecast to decline over the next 3 years (-2.2% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: 1301's Return on Equity is forecast to be low in 3 years time (14.4%).


Past Performance

How has Formosa Plastics performed over the past 5 years?

-4.3%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: 1301 has high quality earnings.

Growing Profit Margin: 1301's current net profit margins (25.7%) are higher than last year (6.9%).


Past Earnings Growth Analysis

Earnings Trend: 1301's earnings have declined by 4.3% per year over the past 5 years.

Accelerating Growth: 1301's earnings growth over the past year (422.7%) exceeds its 5-year average (-4.3% per year).

Earnings vs Industry: 1301 earnings growth over the past year (422.7%) exceeded the Chemicals industry 69.9%.


Return on Equity

High ROE: 1301's Return on Equity (17%) is considered low.


Financial Health

How is Formosa Plastics's financial position?


Financial Position Analysis

Short Term Liabilities: 1301's short term assets (NT$182.0B) exceed its short term liabilities (NT$60.2B).

Long Term Liabilities: 1301's short term assets (NT$182.0B) exceed its long term liabilities (NT$82.0B).


Debt to Equity History and Analysis

Debt Level: 1301 has more cash than its total debt.

Reducing Debt: 1301's debt to equity ratio has reduced from 32.1% to 20.1% over the past 5 years.

Debt Coverage: 1301's debt is well covered by operating cash flow (70.5%).

Interest Coverage: 1301 earns more interest than it pays, so coverage of interest payments is not a concern.


Balance Sheet


Dividend

What is Formosa Plastics's current dividend yield, its reliability and sustainability?

2.23%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: 1301's dividend (2.23%) is higher than the bottom 25% of dividend payers in the TW market (1.87%).

High Dividend: 1301's dividend (2.23%) is low compared to the top 25% of dividend payers in the TW market (5.02%).


Stability and Growth of Payments

Stable Dividend: 1301's dividend payments have been volatile in the past 10 years.

Growing Dividend: 1301's dividend payments have fallen over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its low payout ratio (23.4%), 1301's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: 1301's dividends in 3 years are forecast to be covered by earnings (74% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

4.8yrs

Average management tenure


CEO

Jason Lin

6.42yrs

Tenure

Mr. Jaing-Nan Lin, also known as Jason, has been President of Formosa Plastics Corporation, U.S.A. since August 11, 2015. Mr. Lin serves as the Chairman of Formosa Plastics Corporation and served as its Se...


Leadership Team

Experienced Management: 1301's management team is considered experienced (4.8 years average tenure).


Board Members

Experienced Board: 1301's board of directors are seasoned and experienced ( 15.6 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Formosa Plastics Corporation's employee growth, exchange listings and data sources


Key Information

  • Name: Formosa Plastics Corporation
  • Ticker: 1301
  • Exchange: TWSE
  • Founded: 1954
  • Industry: Commodity Chemicals
  • Sector: Materials
  • Implied Market Cap: NT$684.317b
  • Shares outstanding: 6.37b
  • Website: https://www.fpc.com.tw

Location

  • Formosa Plastics Corporation
  • No. 100, Shuiguan Road
  • Renwu District
  • Kaohsiung
  • 814
  • Taiwan

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/01/20 15:49
End of Day Share Price2022/01/20 00:00
Earnings2021/09/30
Annual Earnings2020/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.