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2910.TW$22.00+0.00%
Fair $22.00+0.0%

2910.TW

Tonlin Department Store Co.,Ltd.

Consumer Cyclical / Department StoresTaiwan

$22.00

+0.00 (+0.00%)

Fairly Valued+0.0%Fair Value $22.00Fund rank 35/100 · Data gapFallback financials|
SA 28/D
F-Score: 4/9
Declining Revenue

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 $280.8M · quality 69.0/100

Data gap 35/100
Bear 5Yn/dn/d
Base 5Yn/dn/d
Bull 5Yn/dn/d
Return 0/100Downside 20/100Model quality 75/100Data 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

28/100

D

Piotroski

4/9

balance/quality

Valuation

50/100

+0.0% upside

5Y CAGR

+0.0%

50/100

Data QA

16/100

SEC 0%

Latest source: unknownPeriods: 4Warnings: 1unknown: 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
Thesis & Journal · 2910.TWLocal privado en este navegador · Tonlin Department Store 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

$3.9B

P/E

17.9x

↑

EV/EBITDA

17.3x

↑

ROE

7.8%

↑

Gross Margin

88.2%

↑

Debt/Equity

1.14

↑
52-Week Range$22
$20$24

TradingView lightweight chart

2910.TW price, volumen y niveles de valoración

Último $22.00Periodo -42.8%
Fair value: $22.00

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

-10.0%

FCF CAGR

-30.8%

FCF margin

33.7%

FCF / Net income

0.81x

Latest source

Provider fallback

Margin decomposition

Último año: revenue $518.3M · net income $215.1M · FCF $174.6M

2022-FY → 2025-FY

Gross margin

88.2%+38.8% pts

Operating margin

53.8%+30.8% pts

Net margin

41.5%+28.0% pts

FCF margin

33.7%-40.4% pts
MetricTTM
2025
2024
2023
2022
Income Statement
Revenue$518.3M$518.3M$606.0M$684.1M$712.0M
Net Income$215.1M$215.1M$197.9M$204.9M$96.4M
EBITDA$397.9M$397.9M$399.7M$355.8M$226.8M
EPS——1.131.170.55
Gross Margin88.2%88.2%71.1%58.4%49.4%
Operating Margin53.8%53.8%39.1%30.5%23.1%
Net Margin41.5%41.5%32.7%30.0%13.5%
Balance Sheet
Debt/Equity1.141.141.020.981.20
Current Ratio1.591.59———
Cash Flow
Free Cash Flow$174.6M$174.6M$424.1M$280.8M$527.3M
Returns
ROE7.8%7.8%7.3%7.9%4.0%
Valuation
P/E17.8917.8920.0423.3353.45
EV/EBITDA17.3017.3016.5920.2534.68
P/B1.401.401.461.852.16
Growth & Yield
Revenue Growth-14.5%-14.5%-11.4%-3.9%—
EPS Growth——-3.4%112.7%—
Dividend Yield4.7%4.7%———

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 +4.9%

Total return

+4.9%

Start / end P/E

n/dx → n/dx

EPS bridge

1.13 → n/d

Residual

+0.2%

EPS growthn/d
Multiple reratingn/d
Dividend+4.7%
Residual / FX / buybacks / cross-term+0.2%

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.