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1810.TW$19.60+2.82%
Fair $19.60+0.0%

1810.TW

Hocheng Corporation

Consumer Cyclical / Furnishings, Fixtures & AppliancesTaiwan

$19.60

+0.55 (+2.82%)

Fairly Valued+0.0%Fair Value $19.60Fund rank 31/100 · Data gapFallback financials|
SA 49/C
F-Score: 5/9
Declining RevenueLow Profitability

FCF base 3Y

n/d

n/d CAGR · yield n/d

FCF base 5Y

n/d

n/d base · n/d expected

Precio de entrada

n/d

MOS 34% · confianza 20%

FCF escenarios

weak_data · normalized FCF $349.1M · quality 55.3/100

Data gap 31/100
Bear 5Yn/dn/d
Base 5Yn/dn/d
Bull 5Yn/dn/d
Return 0/100Downside 20/100Model quality 28/100Data QA 20/100

Ranking barato/determinista: CAGR esperado 5Y + downside bear + calidad del modelo + balance + capital allocation + data gate. No entra en buy-candidate si la data es débil o el CAGR 5Y no compensa.

Quality + valuation scorecard

SA Score

49/100

C

Piotroski

5/9

balance/quality

Valuation

50/100

+0.0% upside

5Y CAGR

+0.0%

50/100

Data QA

16/100

SEC 0%

Latest source: unknownPeriods: 4Warnings: 2unknown: 4
No SEC-backed annual rows; valuation uses fallback financial data. Insufficient audited annual history (<3 SEC-backed years); composite fair value and forward targets are disabled until manually verified. Revenue has declined for 3 consecutive years ROE is 0.2%, below the 5% threshold
Thesis & Journal · 1810.TWLocal privado en este navegador · Hocheng Corporation
Plantilla tipo buy-side: tesis, bull/base/bear, catalizadores, riesgos, kill criteria y fecha de revisión. Esto no gasta GPT-5.5; luego lo usamos como contexto del memo.

Sin guardar todavía.

Market Cap

$5.9B

P/E

392.0x

↑

EV/EBITDA

21.1x

↑

ROE

0.2%

↓

Gross Margin

25.8%

↓

Debt/Equity

0.11

↓
52-Week Range$20
$14$26

TradingView lightweight chart

1810.TW price, volumen y niveles de valoración

Último $20.05Periodo +32.1%
Fair value: $19.60

Price & Ratios

Absolute Values (Left Axis)

Ratios / Percentages (Right Axis)

Financial statement dashboard

Crecimiento, márgenes y provenance

2022–2025 · 3 años de histórico normalizado

Revenue CAGR

-3.1%

FCF CAGR

—

FCF margin

7.7%

FCF / Net income

24.41x

Latest source

Provider fallback

Margin decomposition

Último año: revenue $4.56B · net income $14.3M · FCF $349.1M

2022-FY → 2025-FY

Gross margin

25.8%-0.3% pts

Operating margin

-0.8%-3.2% pts

Net margin

0.3%-2.8% pts

FCF margin

7.7%+10.5% pts
MetricTTM
2025
2024
2023
2022
Income Statement
Revenue$4.56B$4.56B$4.86B$4.87B$5.00B
Net Income$14.3M$14.3M$58.4M$19.3M$157.3M
EBITDA$289.3M$289.3M$344.6M$355.5M$532.0M
EPS——0.190.060.45
Gross Margin25.8%25.8%24.9%24.6%26.1%
Operating Margin-0.8%-0.8%0.1%-0.1%2.4%
Net Margin0.3%0.3%1.2%0.4%3.1%
Balance Sheet
Debt/Equity0.110.110.140.170.28
Current Ratio1.581.58———
Cash Flow
Free Cash Flow$349.1M$349.1M$107.0M$1.15B$-144.0M
Returns
ROE0.2%0.2%0.9%0.3%2.4%
Valuation
P/E392.00392.0091.58301.6740.22
EV/EBITDA21.0621.0615.7114.7614.00
P/B0.860.860.770.820.97
Growth & Yield
Revenue Growth-6.2%-6.2%-0.3%-2.7%—
EPS Growth——216.7%-86.7%—
Dividend Yield1.0%1.0%———

Revenue, Net Income & Free Cash Flow ($B)

Margins (%)

Returns (%)

Leverage & Liquidity

Reverse DCF · market-implied EPS growthterminal P/E 15.0x · COE 10.0%
Reverse DCF requires positive EPS; loss-making or zero-EPS companies cannot produce a clean EPS hurdle.

Qué te dice: cuánto EPS CAGR está descontando el precio si sales al múltiplo terminal indicado. Si el growth observado queda por debajo, el mercado está pidiendo una ejecución muy fina.

Return attribution · 1Y approxreconcilia total +19.3%

Total return

+19.3%

Start / end P/E

n/dx → n/dx

EPS bridge

0.19 → n/d

Residual

+18.3%

EPS growthn/d
Multiple reratingn/d
Dividend+1.0%
Residual / FX / buybacks / cross-term+18.3%

EPS/multiple decomposition requires positive EPS at both endpoints; residual absorbs price move not explained by dividends.

Simple additive decomposition: total return = EPS growth contribution + P/E multiple contribution + dividend contribution + explicit residual. The residual captures cross-terms, buybacks/share-count effects, FX, special dividends, data noise and methodology mismatch so the bridge always reconciles.