Loading…
Major contract footwear manufacturer and one of Nike's largest and longest-standing production partners.
Major contract footwear manufacturer and one of Nike's largest and longest-standing production partners.
Makes shoes to Nike's designs and specifications and sells none under its own name, so orders follow Nike's seasonal programmes and the share of Nike's production it is given. Its plants are outside Taiwan, mostly in Asia.
In one line: A Nike-focused peer of Pou Chen.
Moat: narrow (customer qualification, scale). Decades-long, heavily concentrated manufacturing relationship with Nike.
Headquarters: Changhua, Taiwan
Size Feng Tay Enterprise (9910.TW) is a Taiwan Consumer Discretionary company (Apparel/Footwear) with a market value of $2.08B, the 165th largest of 687 Taiwan companies the cockpit tracks. Shares closed at NT$69.60 on 6 Nov 2026.
Performance Over six months the shares gained 0.4%, against +0.7% for the median peer and -3.4% for the Taiwan market (cap-weighted) — 11th highest of 21 in its peer set.
Growth Revenue fell 4.3% over the last twelve months (peer median +4.1%); the operating margin is 6.9% (peer median 9.1%).
Valuation It trades at 15.0× forward earnings against a peer median of 12.8× (7th most expensive of 20).
Price implies For today's price to make sense, revenue must grow about -6% a year for seven years (Req g). Recent delivered growth is +4%, so the hurdle is -10 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 11.1 points above its cost of capital (5.0% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | NT$82.0B | NT$83.5B | NT$87.5B | NT$85.8B | NT$95.9B |
| Revenue growth | — | -5% | +2% | -11% | — |
| Gross profit | NT$15.7B | NT$17.7B | NT$18.8B | NT$16.9B | NT$22.6B |
| EBITDA | NT$8.75B | NT$10.5B | NT$10.6B | NT$9.56B | NT$14.2B |
| Net income | NT$4.86B | NT$5.04B | NT$5.87B | NT$4.97B | NT$9.08B |
| Free cash flow | NT$4.87B | NT$5.69B | NT$5.16B | NT$3.20B | NT$12.3B |
| Capital expenditure | NT$2.60B | NT$3.12B | NT$3.16B | NT$4.46B | NT$4.99B |
| Total debt | NT$4.96B | NT$6.43B | NT$7.00B | NT$6.31B | NT$3.55B |
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 |
|---|---|---|---|---|---|---|
| Feng Tay Enterprise 9910.TW | $2.08B | 0% | -4% | 7% | 15.0× | -5.9% |
| Pou Chen 9904.TW | $2.29B | 0% | -7% | 3% | 7.3× | 5.9% |
| Yue Yuen Industrial (Holdings) 0551.HK | $2.75B | -7% | -3% | 3% | 13.6× | 2.4% |
| Eclat Textile 1476.TW | $2.88B | +3% | 0% | 20% | 13.7× | -8.9% |
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 | 9910.TW | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +4.3% | +4.7% | 11th highest of 21 |
| 6-month return | +0.4% | +0.7% | 11th highest of 21 |
| Distance from 52-week high | -47.7% | -20.6% | lowest of 21 |
| Revenue growth (TTM) | -4.3% | +4.1% | 4th lowest of 21 |
| Operating margin | 6.9% | 9.1% | 6th lowest of 21 |
| Forward P/E | 15.0× | 12.8× | 7th most expensive of 20 |
| Growth the price implies (Req g, 7 yrs) | -5.9% | -5.8% | 9th least demanding of 17 |
| Growth delivered (Del g) | +3.9% | +6.7% | 6th lowest of 17 |
| Hurdle (Req g minus delivered) | -9.8 pp | -12.3 pp | 7th most demanding of 17 |
| ROIC minus cost of capital | +11.1 pp | +5.6 pp | 8th highest of 21 |
| EV / EBITDA | 8.2× | 8.2× | 9th cheapest of 17 |
| Net debt / EBITDA | 0.1× | -0.4× | 9th most indebted of 19 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Feng Tay Enterprise 9910.TW | Taiwan | $2.08B | 0% | -4% | 7% | 15.0× | -5.9% | +3.9% |
| Mizuno 8022.T | Japan | $2.10B | +27% | +10% | 9% | 15.9× | 4.9% | +11.5% |
| Under Armour UA | United States | $2.23B | -19% | -3% | 1% | 83.9× | n/a | n/a |
| Goldwin 8111.T | Japan | $1.93B | -1% | +4% | 18% | 12.7× | -6.3% | +8.7% |
| Youngone 111770.KS | South Korea | $2.27B | -13% | +15% | 14% | 5.5× | n/a | n/a |
| Pou Chen 9904.TW | Taiwan | $2.29B | 0% | -7% | 3% | 7.3× | 5.9% | +0.1% |
| Vestis VSTS | United States | $1.88B | +54% | 0% | 4% | 20.0× | 15.8% | +1.3% |
| F&F 383220.KS | South Korea | $1.80B | -3% | +7% | 25% | 5.1× | n/a | n/a |
| Zhejiang Semir Garment 002563.SZ | China | $2.42B | -1% | +4% | 7% | 14.8× | -8.1% | -0.1% |
| BIEM.L.FDLKK Garment 002832.SZ | China | $2.46B | +42% | +23% | 15% | 20.4× | 0.0% | +13.3% |
| Wolverine World Wide WWW | United States | $1.75B | +28% | +7% | 9% | 12.1× | 9.1% | +0.9% |
| Makalot Industrial 1477.TW | Taiwan | $1.59B | +1% | -2% | 14% | 12.8× | -8.0% | +6.7% |
| Yue Yuen Industrial (Holdings) 0551.HK | Hong Kong | $2.75B | -7% | -3% | 3% | 13.6× | 2.4% | -0.9% |
| Star Shine 1440.HK | Hong Kong | $2.85B | +34% | -33% | -3% | n/a | n/a | n/a |
| Misto 081660.KS | South Korea | $1.51B | -5% | +8% | 13% | 6.4× | -13.9% | +7.4% |
| Eclat Textile 1476.TW | Taiwan | $2.88B | +3% | 0% | 20% | 13.7× | -8.9% | +6.2% |
| Steven Madden SHOO | United States | $2.89B | -3% | +18% | 9% | 17.5× | 5.9% | +16.1% |
| Hugo Boss BOSS.DE | Germany | $2.90B | +8% | -5% | 8% | 15.4× | -6.6% | +17.0% |
| Crystal International 2232.HK | Hong Kong | $2.92B | +23% | +4% | 10% | 11.4× | -5.3% | +6.0% |
| JNBY Design 3306.HK | Hong Kong | $1.47B | +7% | +12% | 20% | 9.4× | -7.4% | +6.9% |
| Stella International 1836.HK | Hong Kong | $1.47B | -10% | +2% | 8% | 11.8× | -9.5% | +6.8% |