TSRC Future Growth

Future criteria checks 1/6

TSRC is forecast to grow earnings and revenue by 6.7% and 1.1% per annum respectively. EPS is expected to grow by 6.5% per annum. Return on equity is forecast to be 3.6% in 3 years.

Key information

6.7%

Earnings growth rate

6.5%

EPS growth rate

Chemicals earnings growth	52.5%
Revenue growth rate	1.1%
Future return on equity	3.6%
Analyst coverage	Low
Last updated	16 Nov 2023

Recent future growth updates

Recent updates

Rainbows and Unicorns: TSRC Corporation (TPE:2103) Analysts Just Became A Lot More Optimistic

Apr 28

Zooming in on TPE:2103's 1.3% Dividend Yield

Mar 22

Are Investors Concerned With What's Going On At TSRC (TPE:2103)?

Mar 01

Is TSRC Corporation (TPE:2103) Expensive For A Reason? A Look At Its Intrinsic Value

Feb 02

Is TSRC (TPE:2103) A Risky Investment?

Jan 12

Something To Consider Before Buying TSRC Corporation (TPE:2103) For The 2.2% Dividend

Dec 22

Reflecting on TSRC's (TPE:2103) Share Price Returns Over The Last Three Years

Dec 01

Earnings and Revenue Growth Forecasts

TWSE:2103 - Analysts future estimates and past financials data (TWD Millions)
Date	Revenue	Earnings	Free Cash Flow	Cash from Op	Avg. No. Analysts
12/31/2025	32,105	771	N/A	2,951	1
12/31/2024	31,559	583	N/A	1,601	1
12/31/2023	31,427	680	1,084	2,717	N/A
9/30/2023	31,028	444	2,347	3,254	N/A
6/30/2023	32,080	679	2,102	2,976	N/A
3/31/2023	33,313	1,387	913	1,665	N/A
12/31/2022	33,841	1,783	1,501	2,237	N/A
9/30/2022	34,480	2,385	1,377	2,074	N/A
6/30/2022	33,413	3,433	235	990	N/A
3/31/2022	32,958	3,686	1,757	2,555	N/A
12/31/2021	32,533	3,931	1,841	2,702	N/A
9/30/2021	30,798	3,608	498	1,609	N/A
6/30/2021	28,733	1,935	1,292	2,544	N/A
3/31/2021	25,747	816	1,967	3,283	N/A
12/31/2020	24,024	-22	901	2,364	N/A
9/30/2020	24,480	-185	1,604	3,277	N/A
6/30/2020	25,791	65	1,774	3,580	N/A
3/31/2020	27,844	516	-592	1,459	N/A
12/31/2019	28,911	740	144	2,598	N/A
9/30/2019	29,073	999	184	2,421	N/A
6/30/2019	29,689	1,181	-145	1,934	N/A
3/31/2019	29,795	1,240	886	2,600	N/A
12/31/2018	29,751	1,192	635	1,873	N/A
9/30/2018	29,841	1,142	353	1,337	N/A
6/30/2018	29,856	1,236	2,438	3,270	N/A
3/31/2018	30,524	757	2,436	3,275	N/A
12/31/2017	31,766	874	939	1,591	N/A
9/30/2017	31,866	618	N/A	605	N/A
6/30/2017	30,885	569	N/A	-471	N/A
3/31/2017	29,597	1,117	N/A	-462	N/A
12/31/2016	26,955	988	N/A	908	N/A
9/30/2016	26,063	992	N/A	2,699	N/A
6/30/2016	25,910	668	N/A	2,069	N/A
3/31/2016	25,343	558	N/A	1,901	N/A
12/31/2015	25,982	529	N/A	4,203	N/A
9/30/2015	27,600	770	N/A	3,929	N/A
6/30/2015	29,016	1,104	N/A	2,979	N/A
3/31/2015	30,693	1,080	N/A	3,649	N/A
12/31/2014	31,869	1,141	N/A	2,036	N/A
9/30/2014	31,164	1,060	N/A	1,226	N/A
6/30/2014	31,261	889	N/A	3,600	N/A
3/31/2014	32,252	1,175	N/A	4,078	N/A
12/31/2013	34,423	1,495	N/A	4,201	N/A
9/30/2013	37,062	1,685	N/A	5,862	N/A
6/30/2013	40,510	2,324	N/A	6,795	N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: 2103's forecast earnings growth (6.7% per year) is above the savings rate (1%).

Earnings vs Market: 2103's earnings (6.7% per year) are forecast to grow slower than the TW market (19.7% per year).

High Growth Earnings: 2103's earnings are forecast to grow, but not significantly.

Revenue vs Market: 2103's revenue (1.1% per year) is forecast to grow slower than the TW market (10.5% per year).

High Growth Revenue: 2103's revenue (1.1% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: 2103's Return on Equity is forecast to be low in 3 years time (3.6%).

TSRC Future Growth

Future criteria checks 1/6

Key information

Recent future growth updates

Consensus EPS estimates fall by 13%

Price target decreased to NT$34.67

Consensus forecasts updated

Consensus EPS estimates fall by 12%

Price target increased to NT$45.67

Consensus forecasts updated

Recent updates

TSRC Corporation to Report Q1, 2024 Results on May 07, 2024

Full year 2023 earnings: EPS exceeds analyst expectations

TSRC Corporation, Annual General Meeting, Jun 07, 2024

Consensus EPS estimates fall by 13%

TSRC Corporation, Annual General Meeting, Nov 09, 2023

Third quarter 2023 earnings: EPS and revenues miss analyst expectations

TSRC Corporation, Annual General Meeting, Oct 13, 2023

TSRC Corporation, Annual General Meeting, Sep 05, 2023

Second quarter 2023 earnings released: EPS: NT$0.05 (vs NT$0.91 in 2Q 2022)

Upcoming dividend of NT$1.08 per share at 4.0% yield

TSRC Corporation Announces Cash Dividend, Payable on July 31, 2023

TSRC Corporation Approves Cash Dividend for 2022

Full year 2022 earnings: EPS and revenues miss analyst expectations

Price target decreased to NT$34.67

Less than half of directors are independent

Third quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind

Second quarter 2022 earnings: EPS and revenues exceed analyst expectations

Consensus forecasts updated

Upcoming dividend of NT$2.40 per share

TSRC Corporation Approves Cash Dividend for 2021

Consensus EPS estimates fall by 12%

First quarter 2022 earnings: EPS and revenues exceed analyst expectations

Price target increased to NT$45.67

Less than half of directors are independent

Consensus forecasts updated

Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behind

Price target increased to NT$39.17

Investor sentiment improved over the past week

Third quarter 2021 earnings released: EPS NT$1.75 (vs NT$0.28 loss in 3Q 2020)

Upcoming dividend of NT$0.36 per share

Consensus revenue estimates increase to NT$34.2b

Second quarter 2021 earnings released: EPS NT$1.21 (vs NT$0.14 loss in 2Q 2020)

Consensus forecasts updated

Investor sentiment improved over the past week

Formosa Petrochemical Corporation (TWSE:6505) acquired 4.9% stake in TSRC Corporation (TWSE:2103) for TWD 1.4 billion.

Price target increased to NT$33.75

Investor sentiment deteriorated over the past week

First quarter 2021 earnings released: EPS NT$1.09 (vs NT$0.072 in 1Q 2020)

Rainbows and Unicorns: TSRC Corporation (TPE:2103) Analysts Just Became A Lot More Optimistic

Zooming in on TPE:2103's 1.3% Dividend Yield

Full year 2020 earnings released: NT$0.03 loss per share (vs NT$0.90 profit in FY 2019)

TSRC Corporation Appoints Calvin Tsai as Corporate Governance Officer

Price target raised to NT$25.83

Are Investors Concerned With What's Going On At TSRC (TPE:2103)?

New 90-day high: NT$25.45

Is TSRC Corporation (TPE:2103) Expensive For A Reason? A Look At Its Intrinsic Value

Is TSRC (TPE:2103) A Risky Investment?

Something To Consider Before Buying TSRC Corporation (TPE:2103) For The 2.2% Dividend

New 90-day high: NT$24.05

Reflecting on TSRC's (TPE:2103) Share Price Returns Over The Last Three Years

New 90-day high: NT$22.30

Third quarter 2020 earnings released: NT$0.28 loss per share

Revenue and earnings miss expectations

New 90-day high: NT$22.10

Price target raised to NT$19.50

Analysts update estimates

New 90-day high: NT$19.85

New 90-day high - NT$18.30

First half earnings released

New 90-day low - NT$15.50

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings per Share Growth Forecasts

Future Return on Equity

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