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2104.TW$10.90+3.81%
Fair $10.90+0.0%

2104.TW

International CSRC Investment Holdings Co., Ltd.

Basic Materials / Specialty ChemicalsTaiwan

$10.90

+0.40 (+3.81%)

Fairly Valued+0.0%Fair Value $10.90Fund rank 23/100 · Data gapFallback financials|
SA 16/F
F-Score: 2/9
Declining RevenueMargin CompressionLow 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 17%

FCF escenarios

weak_data · normalized FCF $91.4M · quality 39.7/100

Data gap 23/100
Bear 5Yn/dn/d
Base 5Yn/dn/d
Bull 5Yn/dn/d
Return 0/100Downside 20/100Model quality 6/100Data 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

16/100

F

Piotroski

2/9

balance/quality

Valuation

50/100

+0.0% upside

5Y CAGR

+0.0%

50/100

Data QA

16/100

SEC 0%

Latest source: unknownPeriods: 4Warnings: 3unknown: 4
No SEC-backed annual rows; valuation uses fallback financial data. Sector-specific holding-company NAV/SOTP model required: targets are disabled until look-through holdings, debt and discount data exists. Revenue has declined for 3 consecutive years Operating margin has declined for 3 consecutive years ROE is -17.2%, below the 5% threshold
Thesis & Journal · 2104.TWLocal privado en este navegador · International CSRC Investment Holdings Co., Ltd.
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

$10.6B

P/E

N/A

•

EV/EBITDA

N/A

•

ROE

-17.2%

↓

Gross Margin

-5.2%

↓

Debt/Equity

0.67

↑
52-Week Range$11
$9$15

TradingView lightweight chart

2104.TW price, volumen y niveles de valoración

Último $10.90Periodo -8.8%
Fair value: $10.90

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

-13.1%

FCF CAGR

—

FCF margin

0.6%

FCF / Net income

-0.02x

Latest source

Provider fallback

Margin decomposition

Último año: revenue $15.33B · net income $-4.15B · FCF $91.4M

2022-FY → 2025-FY

Gross margin

-5.2%-19.2% pts

Operating margin

-14.3%-21.7% pts

Net margin

-27.1%-30.0% pts

FCF margin

0.6%+9.7% pts
MetricTTM
2025
2024
2023
2022
Income Statement
Revenue$15.33B$15.33B$17.33B$17.88B$23.37B
Net Income$-4.15B$-4.15B$-2.71B$-494.4M$679.4M
EBITDA$-2.29B$-2.29B$1.07B$1.91B$3.26B
EPS——-2.80-0.510.70
Gross Margin-5.2%-5.2%6.9%8.2%14.0%
Operating Margin-14.3%-14.3%-1.3%0.6%7.4%
Net Margin-27.1%-27.1%-15.7%-2.8%2.9%
Balance Sheet
Debt/Equity0.670.670.430.410.45
Current Ratio1.321.32———
Cash Flow
Free Cash Flow$91.4M$91.4M$-1.49B$2.02B$-2.12B
Returns
ROE-17.2%-17.2%-8.6%-1.5%2.0%
Valuation
P/E————28.07
EV/EBITDA——16.8212.995.90
P/B0.440.440.380.560.57
Growth & Yield
Revenue Growth-11.5%-11.5%-3.1%-23.5%—
EPS Growth——-449.0%-172.9%—

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 -5.6%

Total return

-5.6%

Start / end P/E

n/dx → n/dx

EPS bridge

-2.80 → n/d

Residual

-5.6%

EPS growthn/d
Multiple reratingn/d
Dividend+0.0%
Residual / FX / buybacks / cross-term-5.6%

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.