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Major Taiwanese conglomerate (Far Eastern Group flagship) spanning polyester fiber, PET resin, textiles, cement and telecom investments.
Major Taiwanese conglomerate (Far Eastern Group flagship) spanning polyester fiber, PET resin, textiles, cement and telecom investments.
Mainly produces polyester and PET resin, both priced off oil-derived raw materials, so earnings follow the spread between feedstock and product prices. It also holds stakes in group companies in telecom and cement, which pay dividends and contribute profit. It sits at the centre of the Far Eastern group, run by the Hsu family.
In one line: A diversified Taiwanese industrial holding, part-DuPont, part-conglomerate.
Moat: narrow (scale, distribution). Large integrated polyester-to-textile producer with group-wide scale across chemicals, cement and telecom.
Headquarters: Taipei, Taiwan · Employees: 30,603
Size Far Eastern New Century (1402.TW) is a Taiwan Materials company (Chemicals: Specialty) with a market value of $4.49B, the 97th largest of 687 Taiwan companies the cockpit tracks. Shares closed at NT$27.75 on 6 Nov 2026.
Performance Over six months the shares gained 8.0%, against -18.9% for the median peer and -3.4% for the Taiwan market (cap-weighted) — 5th highest of 20 in its peer set.
Growth Revenue fell 0.4% over the last twelve months (peer median +10.3%); the operating margin is 6.5% (peer median 10.6%).
Valuation It trades at 11.8× forward earnings against a peer median of 21.9× (6th cheapest of 21).
Price implies For today's price to make sense, revenue must grow about 5% a year for seven years (Req g). Recent delivered growth is +4%, so the hurdle is +1 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 2.7 points below its cost of capital (5.0% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | NT$261B | NT$254B | NT$271B | NT$257B | NT$264B |
| Revenue growth | — | -6% | +5% | -3% | — |
| Gross profit | NT$48.6B | NT$48.3B | NT$50.2B | NT$43.4B | NT$46.9B |
| EBITDA | NT$47.0B | NT$47.3B | NT$47.2B | NT$42.1B | NT$41.4B |
| Net income | NT$10.4B | NT$7.83B | NT$10.0B | NT$8.23B | NT$8.17B |
| Free cash flow | NT$28.6B | NT$28.7B | NT$30.5B | NT$23.9B | NT$15.5B |
| Capital expenditure | NT$14.1B | NT$14.6B | NT$16.3B | NT$23.6B | NT$24.0B |
| Total debt | NT$264B | NT$264B | NT$274B | NT$277B | NT$298B |
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 |
|---|---|---|---|---|---|---|
| Far Eastern New Century 1402.TW | $4.49B | +8% | 0% | 6% | 11.8× | 5.3% |
| Eclat Textile 1476.TW | $2.88B | +3% | 0% | 20% | 13.7× | -8.9% |
| Shinkong Synthetic Fibers 1409.TW | $1.03B | +23% | -7% | 14% | n/a | n/a |
| Formosa Chemicals & Fibre 1326.TW | $11.1B | +21% | -5% | 1% | 21.0× | 26.2% |
| Formosa Taffeta 1434.TW | $888M | +9% | -7% | 2% | n/a | 19.9% |
| Hengli Petrochemical 600346.SS | $17.5B | -25% | -8% | 8% | 9.2× | -8.0% |
| Tongkun 601233.SS | $8.35B | -3% | +21% | 5% | 6.8× | -1.4% |
| Hengyi Petrochemical 000703.SZ | $7.21B | -30% | +21% | 9% | 5.0× | -6.6% |
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 | 1402.TW | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | 0.0% | -3.3% | 10th highest of 21 |
| 6-month return | +8.0% | -18.9% | 5th highest of 20 |
| Distance from 52-week high | -12.3% | -36.5% | 4th highest of 21 |
| Revenue growth (TTM) | -0.4% | +10.3% | 6th lowest of 21 |
| Operating margin | 6.5% | 10.6% | 5th lowest of 21 |
| Forward P/E | 11.8× | 21.9× | 6th cheapest of 21 |
| Growth the price implies (Req g, 7 yrs) | 5.3% | 6.2% | 8th least demanding of 19 |
| Growth delivered (Del g) | +4.2% | +12.7% | 4th lowest of 19 |
| Hurdle (Req g minus delivered) | +1.1 pp | -4.7 pp | 6th most demanding of 19 |
| ROIC minus cost of capital | -2.7 pp | +1.6 pp | 5th lowest of 21 |
| EV / EBITDA | 9.3× | 8.8× | 4th most expensive of 9 |
| Net debt / EBITDA | 4.4× | 1.9× | 2nd most indebted of 9 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Far Eastern New Century 1402.TW | Taiwan | $4.49B | +8% | 0% | 6% | 11.8× | 5.3% | +4.2% |
| GEM 002340.SZ | China | $4.43B | -36% | +2% | 7% | 15.7× | 4.2% | +24.4% |
| Zhejiang Sanmei Chemical Industry 603379.SS | China | $4.64B | -22% | +24% | 41% | 13.5× | 5.4% | +16.5% |
| Red Avenue New Materials 9607.HK | Hong Kong | $4.35B | n/a | +30% | 9% | 26.9× | n/a | n/a |
| Guangxi Huaxi Nonferrous Metal 600301.SS | China | $4.33B | -15% | +24% | 32% | 22.9× | 9.2% | +44.9% |
| Clariant CLN.SW | Switzerland | $4.32B | +46% | -7% | 10% | 16.0× | -3.4% | +0.3% |
| Tosoh 4042.T | Japan | $4.69B | -4% | -1% | 11% | 11.4× | -1.5% | +6.8% |
| Jiangsu Nata Opto-electronic Material 300346.SZ | China | $4.29B | -22% | +15% | 16% | 62.1× | 35.6% | +34.2% |
| Dottikon ES DESN.SW | Switzerland | $4.72B | -24% | +11% | 27% | 37.6× | 12.6% | +14.4% |
| Cathay Biotech 688065.SS | China | $4.22B | -19% | +9% | 18% | 38.8× | n/a | n/a |
| Navin Fluorine International NAVINFLUOR.NS | India | $4.89B | +27% | +46% | 30% | 45.6× | 34.0% | +22.7% |
| Sumitomo Chemical 4005.T | Japan | $4.93B | -7% | -2% | 5% | 6.9× | 1.1% | +0.4% |
| Do-Fluoride New Materials 002407.SZ | China | $4.06B | -36% | +69% | 7% | 38.0× | 19.2% | +17.5% |
| Bluestar Adisseo 600299.SS | China | $3.97B | -35% | +15% | 13% | 11.8× | -8.6% | +7.7% |
| Celanese CE | United States | $5.10B | -19% | +1% | 9% | 7.6× | 5.3% | +11.0% |
| Air Water 4088.T | Japan | $3.93B | +23% | +7% | 4% | 14.3× | 7.1% | +6.8% |
| IMEIK Technology Development 300896.SZ | China | $3.92B | -21% | -7% | 45% | 23.3× | 18.8% | +28.0% |
| Methanex MX.TO | Canada | $5.18B | +12% | +31% | 23% | 6.9× | -9.4% | +7.1% |
| Hangzhou Oxygen Plant 002430.SZ | China | $3.89B | -16% | +16% | 11% | 20.9× | 2.9% | +8.5% |
| Pangang Group Vanadium & Titanium Resources 000629.SZ | China | $3.83B | -24% | +6% | 4% | 68.8× | 27.2% | -3.4% |
| Hoshine Silicon Industry 603260.SS | China | $5.32B | -33% | -7% | -6% | 41.7× | 22.5% | +18.5% |