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3522.TWO$11.50-2.13%
Fair $11.50+0.0%

3522.TWO

Toplus Global Co., Ltd.

Consumer Cyclical / RestaurantsTaipei Exchange

$11.50

-0.25 (-2.13%)

Fairly Valued+0.0%Fair Value $11.50Fund rank 20/100 · Data gapFallback financials|
SA 12/F
F-Score: 3/9
High DebtLow 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 35% · confianza 11%

FCF escenarios

weak_data · normalized FCF $37.6M · quality 22.7/100

Data gap 20/100
Bear 5Yn/dn/d
Base 5Yn/dn/d
Bull 5Yn/dn/d
Return 0/100Downside 20/100Model quality 16/100Data 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

12/100

F

Piotroski

3/9

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. Debt-to-Equity ratio is 2.85, above the 2.0 threshold ROE is -49.7%, below the 5% threshold
Thesis & Journal · 3522.TWOLocal privado en este navegador · Toplus Global 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

$1.2B

P/E

N/A

•

EV/EBITDA

31.3x

↑

ROE

-49.7%

↓

Gross Margin

44.2%

↑

Debt/Equity

2.85

↑
52-Week Range$12
$11$20

TradingView lightweight chart

3522.TWO price, volumen y niveles de valoración

Último $11.50Periodo -81.3%
Fair value: $11.50

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

+20.7%

FCF CAGR

—

FCF margin

3.3%

FCF / Net income

-0.17x

Latest source

Provider fallback

Margin decomposition

Último año: revenue $1.15B · net income $-223.4M · FCF $37.6M

2022-FY → 2025-FY

Gross margin

44.2%+1.6% pts

Operating margin

-18.8%+10.4% pts

Net margin

-19.4%-3.4% pts

FCF margin

3.3%+10.8% pts
MetricTTM
2025
2024
2023
2022
Income Statement
Revenue$1.15B$1.15B$900.0M$734.2M$654.3M
Net Income$-223.4M$-223.4M$-189.0M$-111.0M$-104.7M
EBITDA$66.6M$66.6M$69.2M$116.6M$148.3M
EPS——-2.23-2.02-2.41
Gross Margin44.2%44.2%47.3%48.5%42.6%
Operating Margin-18.8%-18.8%-22.0%-14.9%-29.2%
Net Margin-19.4%-19.4%-21.0%-15.1%-16.0%
Balance Sheet
Debt/Equity2.852.852.041.524.39
Current Ratio0.790.79———
Cash Flow
Free Cash Flow$37.6M$37.6M$-144.8M$112.2M$-49.6M
Returns
ROE-49.7%-49.7%-31.7%-14.8%-39.7%
Valuation
EV/EBITDA31.3431.3444.9214.8510.23
P/B2.202.203.491.521.61
Growth & Yield
Revenue Growth27.9%27.9%22.6%12.2%—
EPS Growth——-10.7%16.3%—

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

Margins (%)

Returns (%)

Leverage & Liquidity

Reverse DCF · market-implied EPS growthterminal P/E 15.0x · COE 10.0%
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 -27.0%

Total return

-27.0%

Start / end P/E

n/dx → n/dx

EPS bridge

-2.23 → n/d

Residual

-27.0%

EPS growthn/d
Multiple reratingn/d
Dividend+0.0%
Residual / FX / buybacks / cross-term-27.0%

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.