Loading…
Employees: 417
Size Formosan Union Chemical (1709.TW) is a Taiwan Materials company (Chemicals: Specialty) with a market value of $607M, the 387th largest of 687 Taiwan companies the cockpit tracks. Shares closed at NT$42.10 on 6 Nov 2026.
Performance Over six months the shares gained 127.6%, against -16.5% for the median peer and -3.4% for the Taiwan market (cap-weighted) — highest of 21 in its peer set.
Growth Revenue fell 3.0% over the last twelve months (peer median +12.0%); the operating margin is 13.6% (peer median 5.5%).
Valuation It trades at 2.2× enterprise value to sales against a peer median of 2.8× (9th cheapest of 21).
Price implies For today's price to make sense, revenue must grow about -2% a year for seven years (Req g). Recent delivered growth is +1%, so the hurdle is -3 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 5.8 points above its cost of capital (5.0% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | NT$9.31B | NT$9.01B | NT$10.3B | NT$9.43B | NT$10.6B |
| Revenue growth | — | -13% | +9% | -11% | — |
| Gross profit | NT$1.94B | NT$1.30B | NT$1.42B | NT$1.12B | NT$1.92B |
| EBITDA | NT$1.52B | NT$872M | NT$879M | NT$688M | NT$1.28B |
| Net income | NT$957M | NT$588M | NT$734M | NT$418M | NT$1.08B |
| Free cash flow | NT$967M | NT$998M | NT$473M | NT$647M | NT$953M |
| Capital expenditure | NT$81.5M | NT$66.6M | NT$390M | NT$59.3M | NT$87.3M |
| Total debt | NT$1.01B | NT$1.65B | NT$1.91B | NT$2.33B | NT$2.67B |
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.
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 | 1709.TW | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -34.5% | -9.9% | lowest of 21 |
| 6-month return | +127.6% | -16.5% | highest of 21 |
| Distance from 52-week high | -36.5% | -40.2% | 10th highest of 21 |
| Revenue growth (TTM) | -3.0% | +12.0% | 5th lowest of 21 |
| Operating margin | 13.6% | 5.5% | 5th highest of 21 |
| EV / Sales | 2.2× | 2.8× | 9th cheapest of 21 |
| Growth the price implies (Req g, 7 yrs) | -1.6% | 11.7% | 3rd least demanding of 12 |
| Growth delivered (Del g) | +1.2% | +8.5% | 3rd lowest of 12 |
| Hurdle (Req g minus delivered) | -2.8 pp | -7.7 pp | 6th most demanding of 12 |
| ROIC minus cost of capital | +5.8 pp | -2.4 pp | 3rd highest of 21 |
| EV / EBITDA | 13.3× | 15.1× | 4th cheapest of 8 |
| Net debt / EBITDA | -0.1× | 1.4× | 4th least indebted of 9 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Formosan Union Chemical 1709.TW | Taiwan | $607M | +128% | -3% | 14% | 2.2× | -1.6% | +1.2% |
| Zanyu Technology 002637.SZ | China | $605M | -34% | -3% | 3% | 0.5× | -0.9% | +11.0% |
| Balaji Amines BALAMINES.NS | India | $604M | +15% | +21% | 19% | 3.5× | n/a | n/a |
| Anshan Hifichem 300758.SZ | China | $615M | -22% | +11% | 9% | 3.0× | 15.5% | +8.2% |
| Argus (Shanghai) Textile Chemicals 603790.SS | China | $618M | -11% | +21% | 14% | 4.2× | 11.7% | +0.7% |
| Ishihara Sangyo Kaisha 4028.T | Japan | $596M | -22% | +1% | 11% | 0.9× | 1.1% | +8.8% |
| Jiangsu Hengxing New Material Technology 603276.SS | China | $596M | +7% | +29% | 8% | 3.3× | 18.5% | +15.2% |
| Cytech 301557.SZ | China | $595M | -3% | +13% | 7% | 3.5× | n/a | n/a |
| Guangzhou Lushan New Materials 603051.SS | China | $595M | +5% | -5% | 0% | 2.2× | 32.5% | +8.5% |
| Longyan Zhuoyue New Energy 688196.SS | China | $622M | -38% | +2% | 1% | 1.4× | n/a | n/a |
| Everlight Chemical Industrial 1711.TW | Taiwan | $593M | -45% | -2% | -1% | 2.8× | n/a | n/a |
| Shandong Fengyuan Chemical 002805.SZ | China | $591M | -38% | +281% | 1% | 1.2× | n/a | n/a |
| Shenzhen Jdd Tech New Material 301538.SZ | China | $591M | -33% | +10% | 18% | 3.4× | 15.3% | +25.6% |
| Skchem 285130.KS | South Korea | $588M | -27% | +27% | 0% | 0.9× | n/a | n/a |
| Allied Supreme 4770.TW | Taiwan | $629M | +12% | -15% | 19% | 3.6× | 3.4% | +12.4% |
| Chori 8014.T | Japan | $629M | -6% | +3% | 4% | 0.2× | -13.4% | +6.7% |
| Hangzhou Gaoxin Materials Technology 300478.SZ | China | $631M | +11% | -21% | -9% | 12.6× | 30.8% | -0.9% |
| Xilong Scientific 002584.SZ | China | $632M | -11% | +23% | 1% | 0.7× | n/a | n/a |
| Miracll Chemicals 300848.SZ | China | $632M | -45% | +23% | 1% | 2.8× | n/a | n/a |
| LOTTE Fine Chem 004000.KS | South Korea | $634M | -51% | +18% | 7% | 0.4× | -8.2% | +6.8% |
| Hebei Jianxin Chemical Industry 300107.SZ | China | $581M | -6% | +39% | 11% | 5.4× | n/a | n/a |