Loading…
Formosa Plastics Group unit making polyester fiber/film, PTA and petrochemical products.
Formosa Plastics Group unit making polyester fiber/film, PTA and petrochemical products.
Sells polyester fiber, PTA and other chemicals priced off oil-based feedstocks, so earnings follow the gap between feed cost and product price. It is one of the Formosa Plastics Group's listed arms, alongside Formosa Plastics and Nan Ya Plastics.
Moat: narrow (scale). Scale within an integrated petrochemical group; polyester/PTA are commodity products.
Headquarters: Taipei, Taiwan · Founded: 1965
Size Formosa Chemicals & Fibre (1326.TW) is a Taiwan Materials company (Chemicals: Specialty) with a market value of $11.1B, the 51st largest of 687 Taiwan companies the cockpit tracks. Shares closed at NT$62.70 on 6 Nov 2026.
Performance Over six months the shares gained 21.0%, against -21.0% for the median peer and -3.4% for the Taiwan market (cap-weighted) — 5th highest of 21 in its peer set.
Growth Revenue fell 5.3% over the last twelve months (peer median +3.2%); the operating margin is 1.3% (peer median 13.9%).
Valuation It trades at 21.0× forward earnings against a peer median of 14.6× (7th most expensive of 19).
Price implies For today's price to make sense, revenue must grow about 26% a year for seven years (Req g). Recent delivered growth is +3%, so the hurdle is +24 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 4.3 points below its cost of capital (5.0% WACC).
Next results Next results expected around 5 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | NT$303B | NT$287B | NT$349B | NT$333B | NT$380B |
| Revenue growth | — | -18% | +5% | -12% | — |
| Gross profit | NT$17.5B | NT$9.33B | NT$14.1B | NT$11.4B | NT$12.7B |
| EBITDA | NT$18.9B | NT$11.0B | NT$13.6B | NT$14.4B | NT$13.2B |
| Net income | NT$13.8B | -NT$5.80B | NT$379M | NT$8.55B | NT$7.36B |
| Free cash flow | NT$1.10B | NT$10.8B | NT$6.72B | -NT$2.38B | NT$9.84B |
| Capital expenditure | NT$15.8B | NT$17.7B | NT$17.0B | NT$24.1B | NT$27.7B |
| Total debt | NT$131B | NT$129B | NT$151B | NT$148B | NT$141B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Formosa Chemicals & Fibre 1326.TW | $11.1B | +21% | -5% | 1% | 21.0× | 26.2% |
| Nan Ya Plastic 1303.TW | $57.4B | +155% | +6% | 6% | 11.5× | n/a |
| Formosa Plastics 1301.TW | $12.1B | +22% | -11% | -2% | 21.4× | n/a |
| Far Eastern New Century 1402.TW | $4.49B | +8% | 0% | 6% | 11.8× | 5.3% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 1326.TW | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -12.4% | -0.6% | 4th lowest of 21 |
| 6-month return | +21.0% | -21.0% | 5th highest of 21 |
| Distance from 52-week high | -27.2% | -39.9% | 9th highest of 21 |
| Revenue growth (TTM) | -5.3% | +3.2% | 4th lowest of 21 |
| Operating margin | 1.3% | 13.9% | 6th lowest of 21 |
| Forward P/E | 21.0× | 14.6× | 7th most expensive of 19 |
| Growth the price implies (Req g, 7 yrs) | 26.2% | 8.1% | 3rd most demanding of 16 |
| Growth delivered (Del g) | +2.5% | +10.7% | 2nd lowest of 16 |
| Hurdle (Req g minus delivered) | +23.7 pp | -2.8 pp | 2nd most demanding of 16 |
| ROIC minus cost of capital | -4.3 pp | -1.0 pp | 8th lowest of 21 |
| EV / EBITDA | 15.4× | 10.1× | 2nd most expensive of 12 |
| Net debt / EBITDA | -6.1× | 2.1× | 2nd least indebted of 14 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Formosa Chemicals & Fibre 1326.TW | Taiwan | $11.1B | +21% | -5% | 1% | 21.0× | 26.2% | +2.5% |
| Swancor Advanced Materials 688585.SS | China | $10.9B | +50% | +3% | -25% | n/a | n/a | n/a |
| Albemarle ALB | United States | $11.7B | -51% | +18% | 14% | 11.3× | 10.9% | +10.4% |
| Formosa Plastics 1301.TW | Taiwan | $12.1B | +22% | -11% | -2% | 21.4× | n/a | n/a |
| Satellite Chemical 002648.SZ | China | $12.4B | -17% | +20% | 23% | 7.2× | -13.2% | +33.8% |
| Resonac 4004.T | Japan | $12.6B | -26% | +1% | 8% | 18.0× | 26.7% | +6.7% |
| Ganfeng Lithium 1772.HK | Hong Kong | $9.76B | -72% | +123% | 18% | 6.4× | 9.0% | +32.0% |
| Lgchem 051910.KS | South Korea | $12.6B | -42% | 0% | 0% | n/a | n/a | n/a |
| Zhejiang Juhua 600160.SS | China | $13.1B | -12% | -5% | 20% | 18.2× | n/a | n/a |
| Tianqi Lithium 002466.SZ | China | $8.97B | -54% | +104% | 57% | 9.0× | -1.2% | +26.2% |
| Covestro 1COV.DE | Germany | $14.0B | 0% | -9% | -3% | 200.3× | n/a | n/a |
| Guangzhou Tinci Materials Technology 002709.SZ | China | $8.73B | -53% | +102% | 19% | 10.3× | 9.3% | +32.3% |
| Shandong Hualu-Hengsheng Chemical 600426.SS | China | $8.27B | -32% | +3% | 16% | 12.3× | -2.5% | +18.7% |
| Symrise SY1.DE | Germany | $15.1B | +30% | -1% | 12% | 24.8× | 8.1% | +7.0% |
| Westlake WLK | United States | $8.11B | -32% | 0% | 1% | 38.6× | 37.4% | +8.3% |
| Nippon Sanso 4091.T | Japan | $15.3B | +1% | +10% | 15% | 16.9× | 7.8% | +10.7% |
| Sociedad Quimica y Minera de Chile S.A. Sponsored ADR Pfd Series B SQM | United States | $16.0B | -37% | +59% | 39% | 7.3× | -4.8% | +20.1% |
| Eastman Chemical EMN | United States | $7.37B | -13% | 0% | 10% | 10.2× | 5.1% | +0.7% |
| Hengli Petrochemical 600346.SS | China | $17.5B | -25% | -8% | 8% | 9.2× | -8.0% | +5.1% |
| Croda International CRDA.L | United Kingdom | $6.88B | +31% | +3% | 16% | 23.3× | 19.9% | +4.1% |
| SOL SOL.MI | Italy | $6.39B | +6% | +9% | 14% | 30.5× | 16.9% | +12.8% |