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Taiwan's FamilyMart convenience-store chain, operating thousands of stores selling food, drinks and daily goods, under license from Japan's FamilyMart.
Taiwan's FamilyMart convenience-store chain, operating thousands of stores selling food, drinks and daily goods, under license from Japan's FamilyMart.
Much of the network is run by franchisees who pay fees and share profits, while the company supplies goods and logistics. It earns margins on food and drinks plus service sales such as bill payments and parcel pick-up. The FamilyMart brand and store system are used under licence.
In one line: Taiwan's 7-Eleven-style convenience chain, under a different brand license.
Moat: narrow (scale, distribution, brand). Dense store network and brand recognition create local scale advantages typical of convenience retail.
Headquarters: Taipei, Taiwan · Founded: 1988
Size Taiwan FamilyMart (5903.TWO) is a Taiwan Consumer Staples company (Food Retail) with a market value of $1.23B, the 238th largest of 687 Taiwan companies the cockpit tracks. Shares closed at NT$182.50 on 6 Nov 2026.
Performance Over six months the shares fell 4.0%, against -6.3% for the median peer and -3.4% for the Taiwan market (cap-weighted) — 7th highest of 21 in its peer set.
Growth Revenue grew 6.9% over the last twelve months (peer median +2.0%); the operating margin is 1.6% (peer median 3.7%).
Valuation It trades at 23.4× forward earnings against a peer median of 15.1× (4th most expensive of 16).
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 +5%, so the hurdle is -8 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 11.2 points above its cost of capital (5.0% WACC).
Next results Next results expected around 15 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | NT$115B | NT$110B | NT$105B | NT$99.6B | NT$90.7B |
| Revenue growth | — | +5% | +6% | +10% | — |
| Gross profit | NT$48.5B | NT$39.7B | NT$38.1B | NT$36.1B | NT$32.7B |
| EBITDA | n/a | NT$11.6B | NT$11.3B | NT$10.7B | NT$9.88B |
| Net income | NT$1.85B | NT$1.70B | NT$3.80B | NT$1.61B | NT$1.84B |
| Free cash flow | n/a | NT$6.10B | NT$7.47B | NT$6.67B | NT$5.91B |
| Capital expenditure | n/a | NT$4.62B | NT$4.90B | NT$4.94B | NT$4.65B |
| Total debt | n/a | NT$37.0B | NT$35.1B | NT$34.8B | NT$34.8B |
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 |
|---|---|---|---|---|---|---|
| Taiwan FamilyMart 5903.TWO | $1.23B | -4% | +7% | 2% | 23.4× | -2.4% |
| President Chain Store 2912.TW | $6.62B | -6% | +5% | 4% | 17.0× | 3.3% |
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 | 5903.TWO | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -2.1% | +2.7% | 4th lowest of 21 |
| 6-month return | -4.0% | -6.3% | 7th highest of 21 |
| Distance from 52-week high | -7.4% | -22.8% | 2nd highest of 21 |
| Revenue growth (TTM) | +6.9% | +2.0% | 4th highest of 20 |
| Operating margin | 1.6% | 3.7% | 4th lowest of 20 |
| Forward P/E | 23.4× | 15.1× | 4th most expensive of 16 |
| Growth the price implies (Req g, 7 yrs) | -2.4% | -2.7% | 9th most demanding of 18 |
| Growth delivered (Del g) | +5.2% | +3.0% | 5th highest of 18 |
| Hurdle (Req g minus delivered) | -7.6 pp | -7.5 pp | 9th least demanding of 18 |
| ROIC minus cost of capital | +11.2 pp | +2.0 pp | 3rd highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Taiwan FamilyMart 5903.TWO | Taiwan | $1.23B | -4% | +7% | 2% | 23.4× | -2.4% | +5.2% |
| San-a 2659.T | Japan | $1.22B | -2% | +6% | 7% | 16.4× | -12.3% | +3.9% |
| Valor 9956.T | Japan | $1.25B | -6% | +9% | 3% | 8.8× | -2.7% | +4.8% |
| Chongqing Chongbai Technology 600729.SS | China | $1.26B | -9% | -11% | 4% | 11.3× | -10.4% | -6.9% |
| Arcs 9948.T | Japan | $1.27B | +5% | +2% | 3% | 15.9× | -10.6% | +2.4% |
| Aryzta ARYN.SW | Switzerland | $1.28B | -26% | -3% | 7% | 13.0× | -6.6% | +3.0% |
| Grocery Outlet GO | United States | $1.29B | +59% | +5% | 4% | 21.6× | 4.4% | +8.4% |
| Better Life Commercial Chain Share 002251.SZ | China | $1.34B | -19% | +11% | 5% | 42.1× | 10.8% | -23.1% |
| Fuji 8278.T | Japan | $1.11B | -1% | -1% | 1% | n/a | 2.6% | +20.9% |
| Life 8194.T | Japan | $1.43B | +1% | +3% | 3% | 12.1× | -11.0% | +3.0% |
| Toly Bread 603866.SS | China | $1.01B | -15% | -2% | 8% | 24.1× | 0.5% | -1.8% |
| Chengdu Hongqi Chain 002697.SZ | China | $1.01B | -5% | -1% | 5% | 14.3× | -17.5% | +1.1% |
| United Super Markets 3222.T | Japan | $999M | -7% | +11% | 0% | n/a | 31.5% | +5.6% |
| Ingles Markets IMKTA | United States | $1.53B | -5% | +1% | 3% | n/a | -1.4% | +3.0% |
| Yesway YSWY | United States | $1.56B | -4% | n/a | n/a | 21.2× | n/a | n/a |
| Jiangxi Guoguang Commercial Chains 605188.SS | China | $908M | -26% | +3% | 1% | n/a | 27.5% | +4.6% |
| Jiajiayue 603708.SS | China | $874M | -12% | 0% | 2% | 25.6× | -12.7% | +1.5% |
| Axial Retailing 8255.T | Japan | $865M | +30% | +3% | 4% | 15.1× | -10.9% | +2.9% |
| BELC 9974.T | Japan | $852M | -8% | +5% | 4% | 10.7× | n/a | n/a |
| WH Smith SMWH.L | United Kingdom | $851M | -10% | -31% | 8% | 11.0× | 9.1% | +8.8% |
| Sanjiang Shopping Club 601116.SS | China | $833M | -26% | -7% | 3% | n/a | n/a | n/a |