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2109.TW$14.30+1.78%
Fair $14.30+0.0%

2109.TW

Hwa Fong Rubber Industrial Co., Ltd.

Consumer Cyclical / Auto PartsTaiwan

$14.30

+0.25 (+1.78%)

Fairly Valued+0.0%Fair Value $14.30Fund rank 33/100 · Data gapFallback financials|
SA 44/C
F-Score: 7/9

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 25% · confianza 25%

FCF escenarios

weak_data · normalized FCF $420.1M · quality 65.7/100

Data gap 33/100
Bear 5Yn/dn/d
Base 5Yn/dn/d
Bull 5Yn/dn/d
Return 0/100Downside 20/100Model quality 57/100Data 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

44/100

C

Piotroski

7/9

balance/quality

Valuation

50/100

+0.0% upside

5Y CAGR

+0.0%

50/100

Data QA

16/100

SEC 0%

Latest source: unknownPeriods: 4Warnings: 0unknown: 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.
Thesis & Journal · 2109.TWLocal privado en este navegador · Hwa Fong Rubber Industrial 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

$4.0B

P/E

12.3x

↓

EV/EBITDA

3.2x

↓

ROE

12.9%

↑

Gross Margin

23.5%

↓

Debt/Equity

0.50

↑
52-Week Range$14
$14$18

TradingView lightweight chart

2109.TW price, volumen y niveles de valoración

Último $14.30Periodo -34.6%
Fair value: $14.30

Price & Ratios

Absolute Values (Left Axis)

Ratios / Percentages (Right Axis)

Financial statement dashboard

Crecimiento, márgenes y provenance

2021–2024 · 3 años de histórico normalizado

Revenue CAGR

-3.7%

FCF CAGR

+29.7%

FCF margin

6.4%

FCF / Net income

0.71x

Latest source

Provider fallback

Margin decomposition

Último año: revenue $4.94B · net income $450.0M · FCF $317.5M

2021-FY → 2024-FY

Gross margin

23.5%+0.9% pts

Operating margin

13.9%+1.4% pts

Net margin

9.1%+2.6% pts

FCF margin

6.4%+3.8% pts
MetricTTM
2024
2023
2022
2021
Income Statement
Revenue$4.94B$4.94B$4.67B$5.41B$5.54B
Net Income$450.0M$450.0M$422.3M$294.5M$362.0M
EBITDA$951.3M$951.3M$1.03B$887.6M$1.01B
EPS1.611.611.511.051.29
Gross Margin23.5%23.5%21.9%19.9%22.6%
Operating Margin13.9%13.9%10.0%10.5%12.4%
Net Margin9.1%9.1%9.0%5.4%6.5%
Balance Sheet
Debt/Equity0.500.500.480.680.80
Current Ratio2.472.47———
Cash Flow
Free Cash Flow$317.5M$317.5M$420.1M$791.5M$145.6M
Returns
ROE12.9%12.9%12.2%9.2%11.9%
Valuation
P/E12.3312.339.6714.0012.79
EV/EBITDA3.243.243.135.195.60
P/B1.151.151.191.281.52
Growth & Yield
Revenue Growth5.7%5.7%-13.7%-2.3%—
EPS Growth6.6%6.6%43.8%-18.6%—
Dividend Yield9.3%9.3%———

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

Margins (%)

Returns (%)

Leverage & Liquidity

Reverse DCF · market-implied EPS growthterminal P/E 15.0x · COE 10.0%

3Y implied EPS CAGR

-7.6%

fácil

EPS terminal req.

$1.27

Spread vs growth

14.3%

5Y implied EPS CAGR

-0.9%

fácil

EPS terminal req.

$1.54

Spread vs growth

7.6%

10Y implied EPS CAGR

4.4%

fácil

EPS terminal req.

$2.47

Spread vs growth

2.2%

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 -9.5%

Total return

-9.5%

Start / end P/E

11.7x → 8.9x

EPS bridge

1.51 → 1.61

Residual

-1.6%

EPS growth+6.6%
Multiple rerating-23.8%
Dividend+9.3%
Residual / FX / buybacks / cross-term-1.6%

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.