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Major Taiwanese real-estate developer (Farglory Group) building residential and commercial properties, with related leisure and insurance affiliates.
Major Taiwanese real-estate developer (Farglory Group) building residential and commercial properties, with related leisure and insurance affiliates.
Earns when finished homes and offices are delivered to buyers, usually after pre-sales during construction, so reported income arrives in lumps tied to project completions rather than evenly. Results depend on land bought earlier and on how many projects finish in a given year.
In one line: A diversified Taiwanese property developer with conglomerate ties.
Moat: none (brand, scale). Established developer brand in Taiwan but real estate is a cyclical, capital-intensive business.
Headquarters: Taipei, Taiwan · Employees: 189
Size Farglory Land Development (5522.TW) is a Taiwan Industrials company (Engineering & Construction) with a market value of $1.34B, the 216th largest of 687 Taiwan companies the cockpit tracks. Shares closed at NT$56.90 on 6 Nov 2026.
Performance Over six months the shares fell 17.7%, against -14.9% for the median peer and -3.4% for the Taiwan market (cap-weighted) — 8th lowest of 21 in its peer set.
Growth Revenue grew 163.5% over the last twelve months (peer median +4.9%); the operating margin is 25.9% (peer median 6.7%).
Valuation It trades at 7.7× forward earnings against a peer median of 12.6× (3rd cheapest of 14).
Price implies For today's price to make sense, revenue must grow about -14% a year for seven years (Req g). Recent delivered growth is +3%, so the hurdle is -17 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 5.5 points above its cost of capital (5.0% WACC).
Next results Next results expected around 17 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | NT$38.7B | NT$31.2B | NT$22.4B | NT$21.8B | NT$26.6B |
| Revenue growth | — | +39% | +3% | -18% | — |
| Gross profit | NT$13.3B | NT$10.5B | NT$6.95B | NT$6.45B | NT$9.11B |
| EBITDA | NT$10.3B | NT$7.96B | NT$5.09B | NT$4.89B | NT$6.94B |
| Net income | NT$7.84B | NT$5.83B | NT$3.37B | NT$3.72B | NT$5.51B |
| Free cash flow | NT$9.99B | NT$7.83B | -NT$3.73B | NT$1.67B | NT$550M |
| Capital expenditure | NT$115M | NT$95.7M | NT$93.4M | NT$81.3M | NT$114M |
| Total debt | NT$36.7B | NT$37.4B | NT$37.4B | NT$33.8B | NT$33.8B |
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 |
|---|---|---|---|---|---|---|
| Farglory Land Development 5522.TW | $1.34B | -18% | +164% | 26% | 7.7× | -13.6% |
| Ruentex Development 9945.TW | $2.27B | +13% | +37% | 19% | n/a | -1.0% |
| Cathay Real Estate Development 2501.TW | $719M | -9% | +14% | 19% | 6.8× | -20.7% |
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 | 5522.TW | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -5.3% | -4.6% | 10th lowest of 21 |
| 6-month return | -17.7% | -14.9% | 8th lowest of 21 |
| Distance from 52-week high | -32.2% | -35.6% | 10th highest of 21 |
| Revenue growth (TTM) | +163.5% | +4.9% | 2nd highest of 21 |
| Operating margin | 25.9% | 6.7% | 3rd highest of 21 |
| Forward P/E | 7.7× | 12.6× | 3rd cheapest of 14 |
| Growth the price implies (Req g, 7 yrs) | -13.6% | -5.0% | 2nd least demanding of 12 |
| Growth delivered (Del g) | +3.0% | +4.4% | 4th lowest of 12 |
| Hurdle (Req g minus delivered) | -16.6 pp | -9.9 pp | 3rd least demanding of 12 |
| ROIC minus cost of capital | +5.5 pp | -0.7 pp | 3rd highest of 21 |
| EV / EBITDA | 7.1× | 12.0× | 3rd cheapest of 9 |
| Net debt / EBITDA | 2.8× | 0.2× | 3rd most indebted of 10 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Farglory Land Development 5522.TW | Taiwan | $1.34B | -18% | +164% | 26% | 7.7× | -13.6% | +3.0% |
| Kepco Kps 051600.KS | South Korea | $1.37B | -34% | +6% | 9% | 12.6× | -6.1% | +3.9% |
| VA Tech Wabag WABAG.NS | India | $1.32B | +33% | +20% | 11% | 27.1× | 34.6% | +6.8% |
| Zhejiang Communications Technology 002061.SZ | China | $1.30B | -15% | -12% | 3% | 8.0× | -6.5% | +4.8% |
| Taiwan Cogeneration 8926.TW | Taiwan | $1.30B | +9% | +324% | 8% | n/a | n/a | n/a |
| Kumagai Gumi 1861.T | Japan | $1.30B | -20% | -4% | 6% | 9.0× | -9.2% | +1.6% |
| Lloyds Engineering Works LLOYDSENGG.NS | India | $1.29B | +36% | +83% | 11% | n/a | n/a | n/a |
| Shenzhen Urban Transport Technology 301091.SZ | China | $1.29B | -23% | +17% | 2% | 79.8× | n/a | n/a |
| Beijing Gehua CATV Network 600037.SS | China | $1.40B | -16% | +24% | -5% | 39.4× | n/a | n/a |
| Nippon Densetsu Kogyo 1950.T | Japan | $1.29B | -30% | +10% | 12% | 9.9× | -0.1% | +3.2% |
| CTCI 9933.TW | Taiwan | $1.29B | +22% | -22% | 9% | 8.5× | n/a | n/a |
| Zhejiang Construction Investment 002761.SZ | China | $1.42B | -14% | -12% | 0% | n/a | 13.0% | +0.4% |
| Jiangxi Ganyue Expressway 600269.SS | China | $1.44B | -7% | +3% | 28% | n/a | -11.6% | +4.4% |
| JiShi Media 601929.SS | China | $1.25B | -18% | -2% | -24% | n/a | n/a | n/a |
| Shaanxi Construction Engineering 600248.SS | China | $1.45B | -25% | -25% | 0% | 2.7× | n/a | n/a |
| Hongrun Construction 002062.SZ | China | $1.45B | -11% | -12% | 7% | 31.6× | 5.6% | -12.6% |
| SRG Global SRG.AX | Australia | $1.46B | +7% | +27% | 7% | 22.1× | 16.4% | +24.1% |
| Lendlease LLC.AX | Australia | $1.23B | -16% | -30% | 0% | 147.4× | n/a | n/a |
| Xinjiang Communications Construction 002941.SZ | China | $1.22B | -20% | +23% | 5% | n/a | n/a | n/a |
| Tianjin Capital Environmental Protection 1065.HK | Hong Kong | $1.22B | -13% | +2% | 29% | 5.4× | -16.4% | +6.5% |
| Ruentex Engineering & Construction 2597.TW | Taiwan | $1.50B | +5% | +20% | 14% | n/a | -5.0% | +16.8% |