1. Taiwan, Province of China Stocks

  2. •

    Consumer Cyclical

  3. •

    Auto - Parts
Federal Corporation

Federal Corporation

2102.TW
Federal CorporationTW flagTaiwan Stock Exchange
18.80
TWD
- -
- -
8.64BMarket Cap
Federal Corporation
2102.TW
(Taiwan Stock Exchange)

Recent

price

18.80

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
24.51
26.49
20.71
18.03
16.68
16.4
11.6
12.15
10.9
9.88
12.41
3.4
3.52
1.04
0.58
- -
0.58
Revenue per Share
0.72
1.08
0.94
1.39
0.92
1.19
-0.02
-1.52
-2.67
-1.46
0.24
-5.11
-2.95
-3.76
-1.01
- -
6.34
Basic EPS, GAAP
-0.32
-0.6
-0.05
1.48
1.27
2.31
0.72
-3.79
0.07
0.48
0.68
-2.47
-0.19
-1.26
-0.51
- -
-0.59
Free Cash Flow per Basic Share
0.15
0.04
0.04
0.09
0.18
0.15
0.2
0.1
- -
- -
- -
0.02
- -
- -
- -
- -
- -
Dividend per Share
12.23
13.27
13.6
20.09
15.29
16.23
15.91
14.33
11.65
10.17
10.37
6.33
3.38
-0.38
-1.39
- -
4.93
Book Value per Share
16.82
18.33
18.72
20.09
21.16
22.05
21.36
19.64
17.41
15.89
16.39
11.52
8.64
15.63
14.66
- -
21.19
Tangible Book Value per Share
447
447
455
460
460
460
460
460
460
460
460
460
460
460
460
- -
455
Basic Weighted Avg Shares
10,960
11,845
9,424
8,288
7,665
7,536
5,331
5,585
5,008
4,541
5,705
1,561
1,616
478
267
266
266
Sales/Revenue/Turnover
5.16
3.98
6.36
9.51
6.89
8.69
0.57
-8.03
-17.53
-7.87
4.12
-118.1
-45.13
-224.61
-85.86
-83.23
-83.23
Operating Margin (%)
578
636
593
546
595
631
598
574
620
634
530
529
436
366
221
88
88
Depreciation Expense
321
485
430
638
423
545
-9
-698
-1,226
-670
111
-2,350
-1,356
-1,729
-465
2,885
2,885
Net Income, GAAP
22.39
18.73
24.05
21.6
25.57
21.75
120.09
- -
- -
- -
21.98
- -
- -
- -
- -
1.35
1.35
Effective Tax Rate (%)
2.93
4.09
4.56
7.7
5.52
7.24
-0.17
-12.5
-24.47
-14.74
1.95
-150.52
-83.94
-361.47
-173.97
1,085.05
1,085.05
Profit Margin (%)
1,870
2,695
3,291
4,016
3,281
3,637
2,963
1,990
2,349
2,636
2,530
3,140
2,702
525
61
3,124
3,124
Working Capital
- -
- -
1,265
1,169
72
673
2,193
3,093
4,176
4,067
3,813
3,830
3,632
3,831
3,712
- -
- -
LT Debt
7,552
8,193
8,518
9,276
9,774
10,172
9,849
9,043
8,028
7,320
7,543
5,308
3,980
7,190
6,743
9,648
9,648
Total Equity
5.06
4.05
4.38
5.63
3.63
4.7
-0.05
- -
- -
- -
1.49
- -
- -
- -
- -
-2.08
-2.08
Return on Invested Capital (%)
5.29
7.45
5.93
6.97
4.77
6.96
-0.13
- -
- -
- -
1.69
- -
- -
- -
- -
96.38
96.38
Return on Capital (%)
5.97
8.5
7.09
8.28
5.2
7.53
-0.13
-10.05
-20.53
-13.36
2.36
-61.25
-60.76
- -
- -
- -
- -
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Jun'25
Sep'25
Dec'25
ST Debt
965
1,003
59
LT Borrowings
3,526
3,419
- -
LT Finance Leases
1
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
460
460
460
Market Capitalization
9,349
8,582
8,901

Working Capital

FRC

•

in mil. unless spec.
Jun'25
Sep'25
Dec'25
Total Current Assets
1,041
3,805
3,443
Cash, Cash Equivalents & STI
877
822
2,920
Accounts Receivable, Net
64
59
72
Inventories
19
21
12
Total Current Liabilities
1,177
1,199
320
Payables & Accruals
- -
- -
- -
ST Debt
965
1,003
59
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
3.45%
12.57%
43.08%
Free Cash Flow
-26.3%
-10.51%
13.93%
Net Income, GAAP
422.19%
-603.21%
-720.15%
Sales/Revenue/Turnover
-20.27%
-36.84%
-0.57%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
276
112
46
45
478
2024
57
60
79
78
267
2025
76
62
62
66
266

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
-1.07
-0.61
-0.51
- -
-3.76
2024
-0.19
-0.15
-0.27
- -
-1.01
2025
-0.18
-2.19
0.16
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
- -
- -
- -
- -
- -
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
- -
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Business
Federal Corporation (2102.TW) manufactures and markets tires for passenger cars, light trucks, trucks and buses, and industrial vehicles in Taiwan and internationally. The company offers a comprehensive range of products including ultra-high performance (UHP) tires such as the SS535 series featuring TTIC technology, three-radius tread design, and Opti-Noise Technology for enhanced comfort and rim protection; high performance tires; passenger car radial (PCR) tires; SUV tires; light truck radial (LTR), recreational vehicle radial (RVR), and light van radial (LVR) tires; truck and bus radial (TBR) tires under brands like COURAGIA ADVENTURE; snow tires; energy-saving and environmentally friendly tires; drift tires; and motorsports tires including Federal Motorsports lines. Founded in 1954 and headquartered in Taoyuan City, Taiwan, Federal Corporation operates primarily in the automobiles and auto parts sector, targeting high-performance, touring, and commercial vehicle markets across Asia and global regions with approximately 1,875 employees. Recent developments include the completion of a short-form merger with its subsidiary Taicheng Development Co., Ltd. in February 2023 as the surviving entity; approval and implementation of a private sector land readjustment project by the Taoyuan government in late 2022 to optimize assets; and ongoing research into high-value-added tires to expand product categories and market share, alongside historical sponsorships in international drift series such as King of Europe through 2016.