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3521.TWO$11.80-1.26%
Fair $11.80+0.0%

3521.TWO

TSG Development Co., Ltd.

Industrials / Engineering & ConstructionTaipei Exchange

$11.80

-0.15 (-1.26%)

Fairly Valued+0.0%Fair Value $11.80Fund rank 26/100 · Data gapFallback financials|
SA 18/F
F-Score: 6/9
Low 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 18%

FCF escenarios

weak_data · normalized FCF $-2.5M · quality 46.0/100

Data gap 26/100
Bear 5Yn/dn/d
Base 5Yn/dn/d
Bull 5Yn/dn/d
Return 0/100Downside 20/100Model quality 15/100Data 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

18/100

F

Piotroski

6/9

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. ROE is -0.6%, below the 5% threshold
Thesis & Journal · 3521.TWOLocal privado en este navegador · TSG Development 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

$2.2B

P/E

N/A

•

EV/EBITDA

35.3x

↑

ROE

-0.6%

↓

Gross Margin

19.1%

↓

Debt/Equity

0.19

↓
52-Week Range$12
$11$17

TradingView lightweight chart

3521.TWO price, volumen y niveles de valoración

Último $11.80Periodo -71.5%
Fair value: $11.80

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

-1.1%

FCF CAGR

—

FCF margin

28.3%

FCF / Net income

-7.63x

Latest source

Provider fallback

Margin decomposition

Último año: revenue $246.8M · net income $-9.2M · FCF $69.9M

2022-FY → 2025-FY

Gross margin

19.1%+5.1% pts

Operating margin

-11.3%+13.9% pts

Net margin

-3.7%+29.9% pts

FCF margin

28.3%+32.5% pts
MetricTTM
2025
2024
2023
2022
Income Statement
Revenue$246.8M$246.8M$155.9M$276.1M$255.5M
Net Income$-9.2M$-9.2M$-82.0M$-192.0M$-85.8M
EBITDA$35.7M$35.7M$-58.4M$-145.9M$-46.5M
EPS——-1.05-2.76-1.70
Gross Margin19.1%19.1%-11.9%11.4%13.9%
Operating Margin-11.3%-11.3%-102.2%-41.2%-25.1%
Net Margin-3.7%-3.7%-52.6%-69.5%-33.6%
Balance Sheet
Debt/Equity0.190.190.240.791.35
Current Ratio33.7133.71———
Cash Flow
Free Cash Flow$69.9M$69.9M$-72.4M$-2.5M$-10.6M
Returns
ROE-0.6%-0.6%-6.4%-29.8%-17.1%
Valuation
EV/EBITDA35.3335.33———
P/B1.171.171.152.102.22
Growth & Yield
Revenue Growth58.3%58.3%-43.5%8.1%—
EPS Growth——62.0%-62.4%—

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 -0.8%

Total return

-0.8%

Start / end P/E

n/dx → n/dx

EPS bridge

-1.05 → n/d

Residual

-0.8%

EPS growthn/d
Multiple reratingn/d
Dividend+0.0%
Residual / FX / buybacks / cross-term-0.8%

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.