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1301 · TWSE · Taiwan · Materials
In shortFPC (台塑) is loss-making, burns cash and carries moderate debt, with revenue shrinking (−12.3% last year).
Financial health
Weak
Built from five areas over the last five annual reports. Tap an area to see the figures behind it.
| Operating marginShare of each sale left after running the business, before interest and tax. | -4.3% | 2/100 |
|---|---|---|
| Net marginShare of each sale left as profit after every cost, interest and tax. | -5.7% | 0/100 |
| Return on equityProfit earned on the money shareholders put in. Above 15% is strong. | -3.1% | 0/100 |
| Return on invested capitalProfit earned on all the capital used (equity and debt). Above 10% usually means a real competitive edge. | -1.5% | 0/100 |
Weight in the score: 25%
| Current ratioShort-term assets divided by short-term debts. Below 1 can mean tight cash. | 2.05× | 100/100 |
|---|---|---|
| Debt / equityDebt compared with the shareholders' stake. Above 2 is heavily indebted. | 0.34× | 92/100 |
| Net debt / EBITDAYears of operating profit needed to repay net debt. Below 2 is comfortable. | 36.80× | 0/100 |
| Interest coverageHow many times operating profit covers interest. Below 2 is risky. | -2.35× | 0/100 |
| Altman Z''Bankruptcy-risk model. Above 2.6 safe, below 1.1 distress. | 3.96 | 73/100 |
Weight in the score: 25%
| Free cash flow marginCash left from each sale after investments. The money that can pay dividends or reduce debt. | -4.5% | 2/100 |
|---|---|---|
| Free cash flow / net incomeHow much accounting profit turns into real cash. Near 1 or above is healthy. | – | n/a |
| Years with positive free cash flow (last 5) | 2 of 5 | 25/100 |
Weight in the score: 20%
| Profitable years (last 5) | 3 of 5 | 60/100 |
|---|---|---|
| Years of revenue decline (last 5) | 3 of 5 | 0/100 |
| Revenue growth volatility | 26.8% | 12/100 |
| Operating margin volatility | 11.2% | 7/100 |
Weight in the score: 20%
| Revenue growth, 3-year average | -11.3% | 0/100 |
|---|---|---|
| EPS growth, 3-year average | – | n/a |
Weight in the score: 10%
Fiscal year 2025 · change vs prior year
Annual figures as reported. Hover a bar or point for the exact value.
1 older year available with the 10-year history. Essential plan, from €8.25/month →
The last 5 fiscal years from the company's annual reports.
TWD millions; negative values in parentheses.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | 273,598 | 251,647 | 199,139 | 200,040 | 175,411 |
| Cost of revenue | 197,437 | 209,089 | 189,312 | 189,892 | 169,808 |
| Gross profit | 76,161 | 42,559 | 9,826 | 10,148 | 5,603 |
| Research & development | 1,713 | 1,893 | 1,779 | 1,649 | 1,479 |
| Operating income | 60,164 | 26,799 | (4,029) | (4,162) | (7,505) |
| Interest expense | 790 | 1,037 | 2,114 | 3,237 | 3,196 |
| Pre-tax income | 85,957 | 43,794 | 6,997 | (2,414) | (10,215) |
| Income tax | 14,602 | 7,652 | (341) | (1,182) | (166) |
| Net income | 71,355 | 36,143 | 7,338 | (1,232) | (10,049) |
1 older year available with the 10-year history. Essential plan, from €8.25/month →
3.96 Safe zone
Estimates bankruptcy risk from working capital, retained earnings, operating profit and equity. Above 2.6 is considered safe, below 1.1 signals distress.
3/9
Nine yes-or-no tests on profitability, debt, liquidity and efficiency versus the prior year. 7 to 9 is strong, 0 to 3 is weak.
All figures: MOPS (mops.twse.com.tw). Ratios and scores are computed by Scorvest (see how it works). Information only, not investment advice. How it works
Latest annual report: Dec 31, 2025 · Data updated –