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Taiwan's largest personal-care and household-goods variety store chain, selling cosmetics, snacks and daily items.
Taiwan's largest personal-care and household-goods variety store chain, selling cosmetics, snacks and daily items.
Earns retail margins on cosmetics, household goods and snacks by selling high volumes at competitive prices, with larger stores at cheap sites and a growing line of its own-label goods that carry better margins.
In one line: Taiwan's answer to Ulta meets Dollar General.
Moat: narrow (scale, distribution, brand). Largest store footprint and purchasing scale among Taiwan's variety retailers.
Headquarters: Tainan, Taiwan
Size POYA International (5904.TWO) is a Taiwan Consumer Discretionary company (Specialty Stores) with a market value of $2.38B, the 147th largest of 687 Taiwan companies the cockpit tracks. Shares closed at NT$720.00 on 6 Nov 2026.
Performance Over six months the shares gained 65.3%, against -2.2% for the median peer and -3.4% for the Taiwan market (cap-weighted) — highest of 20 in its peer set.
Growth Revenue grew 13.0% over the last twelve months (peer median +7.0%); the operating margin is 17.0% (peer median 8.4%).
Valuation It trades at 18.7× forward earnings against a peer median of 16.5× (9th most expensive of 20).
Price implies For today's price to make sense, revenue must grow about 1% a year for seven years (Req g). Recent delivered growth is +8%, so the hurdle is -7 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 10.5 points above its cost of capital (5.0% WACC).
Next results Next results expected around 22 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | NT$28.0B | NT$25.3B | NT$23.6B | NT$22.1B | NT$19.5B |
| Revenue growth | — | +7% | +7% | +13% | — |
| Gross profit | NT$12.0B | NT$8.74B | NT$8.12B | NT$7.35B | NT$6.16B |
| EBITDA | NT$7.91B | NT$6.78B | NT$6.16B | NT$5.72B | NT$5.04B |
| Net income | NT$3.83B | NT$3.14B | NT$2.80B | NT$2.53B | NT$2.07B |
| Free cash flow | NT$5.09B | NT$4.81B | NT$4.12B | NT$3.69B | NT$4.01B |
| Capital expenditure | NT$1.35B | NT$1.09B | NT$1.29B | NT$1.07B | NT$580M |
| Total debt | NT$19.7B | NT$18.1B | NT$16.6B | NT$14.9B | NT$14.0B |
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 | 5904.TWO | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +12.8% | +9.5% | 8th highest of 21 |
| 6-month return | +65.3% | -2.2% | highest of 20 |
| Distance from 52-week high | -6.1% | -22.7% | 2nd highest of 21 |
| Revenue growth (TTM) | +13.0% | +7.0% | 9th highest of 21 |
| Operating margin | 17.0% | 8.4% | 2nd highest of 21 |
| Forward P/E | 18.7× | 16.5× | 9th most expensive of 20 |
| Growth the price implies (Req g, 7 yrs) | 0.7% | 5.8% | 5th least demanding of 17 |
| Growth delivered (Del g) | +7.6% | +7.4% | 9th highest of 17 |
| Hurdle (Req g minus delivered) | -7.0 pp | -3.9 pp | 6th least demanding of 17 |
| ROIC minus cost of capital | +10.5 pp | +2.0 pp | 4th highest of 21 |
| EV / EBITDA | 12.0× | 10.5× | 6th most expensive of 17 |
| Net debt / EBITDA | 2.1× | 1.7× | 9th most indebted of 18 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| POYA International 5904.TWO | Taiwan | $2.38B | +65% | +13% | 17% | 18.7× | 0.7% | +7.6% |
| Watches of Switzerland WOSG.L | United Kingdom | $2.34B | +43% | +11% | 10% | 14.1× | 14.5% | +15.1% |
| Dunelm DNLM.L | United Kingdom | $2.44B | +24% | +3% | 12% | 11.7× | 2.4% | +6.4% |
| RH RH | United States | $2.48B | -2% | +3% | 10% | 20.2× | 11.4% | +3.8% |
| Bob's Discount Furniture BOBS | United States | $2.54B | +42% | +17% | 9% | 20.2× | 13.4% | +4.0% |
| Lalithaa Jewellery Mart LALITHAA.NS | India | $2.21B | n/a | +48% | 6% | n/a | n/a | n/a |
| Lovisa LOV.AX | Australia | $2.18B | +32% | +18% | 18% | 27.8× | 21.9% | +26.7% |
| Super Retail SUL.AX | Australia | $2.14B | +22% | +3% | 9% | 13.8× | 6.7% | +4.0% |
| Shanghai Yuyuan Tourist Mart 600655.SS | China | $2.70B | -6% | -21% | -3% | 77.3× | 15.9% | -4.4% |
| Advance Auto Parts AAP | United States | $2.75B | -19% | -1% | 4% | 19.2× | 5.6% | -3.2% |
| North West NWC.TO | Canada | $2.02B | +17% | +1% | 8% | 17.1× | -2.8% | +1.9% |
| MTG 7806.T | Japan | $1.96B | +36% | +44% | 11% | 27.4× | n/a | n/a |
| Sonic Automotive SAH | United States | $1.95B | -24% | +2% | 3% | 9.3× | n/a | n/a |
| Chow Tai Seng Jewelry 002867.SZ | China | $1.88B | -12% | -22% | 14% | 13.1× | 1.3% | +11.7% |
| TRIAL Holdings.Inc 141A.T | Japan | $3.12B | +2% | +69% | 2% | 43.1× | 11.0% | +53.9% |
| Group 1 Automotive GPI | United States | $3.12B | -27% | -3% | 5% | 7.1× | -6.1% | +16.3% |
| Warby Parker WRBY | United States | $3.15B | -14% | +11% | 0% | 57.8× | n/a | n/a |
| Eagers Automotive APE.AX | Australia | $3.18B | -31% | +19% | 4% | 16.5× | 5.9% | +8.3% |
| Beijing Caishikou Department Store 605599.SS | China | $1.71B | -23% | +37% | 4% | 13.3× | -17.2% | +32.7% |
| Sally Beauty SBH | United States | $1.71B | +31% | +1% | 9% | 8.3× | -2.6% | +1.0% |
| MINISO 9896.HK | Hong Kong | $3.34B | -25% | +31% | 13% | 9.9× | 1.5% | +18.5% |