FORMOSA PETROCHEMICAL CORPORATION Financials Formosa Petrochemical Corporation
Equities
6505
TW0006505001
Oil & Gas Refining and Marketing
|
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 66.1 TWD | 0.00% |
|
-0.60% | -18.09% |
| Jun. 07 | Formosa Petrochemical Corporation Announces Consolidated Revenue Results for the Month Ended May 2024 | CI |
| May. 09 | Bear market for diesel spells fresh troubles for oil | RE |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 928,781 | 950,691 | 913,540 | 764,935 | 768,745 | 629,666 | - | - |
| Enterprise Value (EV) 1 | 859,270 | 877,746 | 820,239 | 736,435 | 757,594 | 536,192 | 537,128 | 543,198 |
| P/E ratio | 25.3 x | 128 x | 18.5 x | 53.2 x | 35.1 x | 23.3 x | 19 x | 16.9 x |
| Yield | 2.97% | 0.59% | 3.96% | 1.37% | 2.48% | 3.26% | 4.24% | 5.07% |
| Capitalization / Revenue | 1.44 x | 2.29 x | 1.47 x | 0.9 x | 1.08 x | 0.88 x | 0.86 x | 0.88 x |
| EV / Revenue | 1.33 x | 2.11 x | 1.32 x | 0.87 x | 1.06 x | 0.75 x | 0.74 x | 0.76 x |
| EV / EBITDA | 17 x | 52.1 x | 11.8 x | 34 x | 24 x | 12.5 x | 10.6 x | 9.75 x |
| EV / FCF | 23.7 x | 33 x | 32.8 x | -43.8 x | 20.5 x | 22.5 x | 17.5 x | - |
| FCF Yield | 4.21% | 3.03% | 3.04% | -2.29% | 4.89% | 4.45% | 5.71% | - |
| Price to Book | 2.81 x | 3.09 x | 2.56 x | 2.45 x | 2.29 x | 1.84 x | 1.79 x | 1.7 x |
| Nbr of stocks (in thousands) | 9,525,960 | 9,525,960 | 9,525,960 | 9,525,960 | 9,525,960 | 9,525,960 | - | - |
| Reference price 2 | 97.50 | 99.80 | 95.90 | 80.30 | 80.70 | 66.10 | 66.10 | 66.10 |
| Announcement Date | 3/8/20 | 3/10/21 | 3/8/22 | 2/24/23 | 2/29/24 | - | - | - |
1TWD in Million2TWD
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 646,023 | 415,282 | 620,062 | 848,048 | 712,576 | 715,010 | 729,970 | 717,046 |
| EBITDA 1 | 50,483 | 16,853 | 69,677 | 21,666 | 31,567 | 42,910 | 50,882 | 55,715 |
| EBIT 1 | 36,786 | 2,769 | 55,177 | 5,420 | 15,405 | 24,501 | 34,557 | 39,572 |
| Operating Margin | 5.69% | 0.67% | 8.9% | 0.64% | 2.16% | 3.43% | 4.73% | 5.52% |
| Earnings before Tax (EBT) 1 | 44,898 | 8,665 | 60,485 | 16,968 | 24,694 | 31,244 | 40,462 | 44,575 |
| Net income 1 | 36,798 | 7,430 | 49,401 | 14,422 | 21,889 | 25,704 | 33,592 | 37,224 |
| Net margin | 5.7% | 1.79% | 7.97% | 1.7% | 3.07% | 3.59% | 4.6% | 5.19% |
| EPS 2 | 3.860 | 0.7800 | 5.190 | 1.510 | 2.300 | 2.841 | 3.475 | 3.908 |
| Free Cash Flow 1 | 36,205 | 26,576 | 24,976 | -16,830 | 37,019 | 23,861 | 30,662 | - |
| FCF margin | 5.6% | 6.4% | 4.03% | -1.98% | 5.2% | 3.34% | 4.2% | - |
| FCF Conversion (EBITDA) | 71.72% | 157.69% | 35.85% | - | 117.27% | 55.61% | 60.26% | - |
| FCF Conversion (Net income) | 98.39% | 357.7% | 50.56% | - | 169.12% | 92.83% | 91.28% | - |
| Dividend per Share 2 | 2.900 | 0.5900 | 3.800 | 1.100 | 2.000 | 2.155 | 2.802 | 3.351 |
| Announcement Date | 3/8/20 | 3/10/21 | 3/8/22 | 2/24/23 | 2/29/24 | - | - | - |
1TWD in Million2TWD
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 | 2025 Q1 | 2025 Q2 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 180,785 | 185,600 | 239,286 | 229,065 | 194,147 | 184,642 | 159,397 | 192,658 | 175,878 | 171,197 | 184,442 | 190,275 | 189,866 | 185,402 | 194,241 |
| EBITDA 1 | 12,417 | 19,642 | 21,944 | -11,415 | -8,506 | 8,651 | - | 22,047 | 3,077 | 6,496 | 10,083 | 13,998 | 11,008 | - | - |
| EBIT 1 | 8,748 | 15,916 | 18,067 | -15,712 | -12,851 | 4,284 | -6,467 | 18,055 | -467.3 | 3,208 | 7,610 | 7,590 | 6,145 | 8,466 | 8,869 |
| Operating Margin | 4.84% | 8.58% | 7.55% | -6.86% | -6.62% | 2.32% | -4.06% | 9.37% | -0.27% | 1.87% | 4.13% | 3.99% | 3.24% | 4.57% | 4.57% |
| Earnings before Tax (EBT) 1 | 9,328 | 17,100 | 21,043 | -8,733 | -12,434 | 5,360 | -1,920 | 21,103 | 150.3 | 6,107 | 9,187 | 8,745 | 7,240 | 9,864 | 10,268 |
| Net income 1 | 7,606 | 13,700 | 16,930 | -6,281 | -9,884 | 4,435 | -1,158 | 17,156 | 1,455 | 5,026 | 7,663 | 7,170 | 5,918 | 8,390 | 8,733 |
| Net margin | 4.21% | 7.38% | 7.08% | -2.74% | -5.09% | 2.4% | -0.73% | 8.91% | 0.83% | 2.94% | 4.15% | 3.77% | 3.12% | 4.53% | 4.5% |
| EPS 2 | 0.8000 | 1.430 | 2.210 | -0.9200 | -1.040 | 0.5600 | -0.2000 | 2.210 | 0.1500 | 0.5300 | 0.7746 | 0.7342 | 0.6354 | 0.8807 | 0.9168 |
| Dividend per Share 2 | - | - | - | - | 1.100 | - | - | - | - | - | - | 2.149 | - | - | - |
| Announcement Date | 3/8/22 | 4/11/22 | 8/4/22 | 11/3/22 | 2/24/23 | 5/4/23 | 8/4/23 | 11/2/23 | 2/29/24 | 5/3/24 | - | - | - | - | - |
1TWD in Million2TWD
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | - | - | - | - | - | - |
| Net Cash position 1 | 69,511 | 72,945 | 93,301 | 28,499 | 11,151 | 93,474 | 92,538 | 86,468 |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - | - | - |
| Free Cash Flow 1 | 36,205 | 26,576 | 24,976 | -16,830 | 37,019 | 23,861 | 30,662 | - |
| ROE (net income / shareholders' equity) | 11% | 2.33% | 14.8% | 4.31% | 6.75% | 7.57% | 9.76% | 10.9% |
| ROA (Net income/ Total Assets) | 9.16% | 1.91% | 11.8% | 3.28% | 5.22% | 5.3% | 7.55% | - |
| Assets 1 | 401,901 | 389,478 | 419,841 | 440,270 | 418,973 | 484,982 | 444,678 | - |
| Book Value Per Share 2 | 34.70 | 32.30 | 37.50 | 32.80 | 35.30 | 35.90 | 37.00 | 39.00 |
| Cash Flow per Share 2 | 4.610 | 3.730 | 3.730 | -0.9600 | 4.760 | 3.740 | 5.740 | - |
| Capex 1 | 7,719 | 8,959 | 10,550 | 7,647 | 8,365 | 10,461 | 10,762 | 8,000 |
| Capex / Sales | 1.19% | 2.16% | 1.7% | 0.9% | 1.17% | 1.46% | 1.47% | 1.12% |
| Announcement Date | 3/8/20 | 3/10/21 | 3/8/22 | 2/24/23 | 2/29/24 | - | - | - |
1TWD in Million2TWD
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
B+
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
10
Last Close Price
66.1
TWD
Average target price
77.99
TWD
Spread / Average Target
+17.99%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -18.09% | 19.42B | |
| +13.22% | 236B | |
| +17.85% | 98.04B | |
| -0.33% | 97.23B | |
| +13.91% | 61.47B | |
| +1.77% | 58.63B | |
| +14.64% | 50.23B | |
| +19.20% | 35.13B | |
| +30.03% | 27.61B | |
| +6.69% | 18.87B |
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