1. Taiwan, Province of China Stocks

  2. •

    Consumer Cyclical

  3. •

    Apparel - Footwear & Accessories
Pou Chen Corporation

Pou Chen Corporation

9904.TW
Pou Chen CorporationTW flagTaiwan Stock Exchange
24.25
TWD
-0.05
- -
71.46BMarket Cap
Pou Chen Corporation
9904.TW
(Taiwan Stock Exchange)

Recent

price

24.25

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
67.88
72.22
94.25
77.25
82.87
91.37
93.29
94.55
99.54
106.27
84.82
81.41
90.75
83.7
89.53
- -
85.38
Revenue per Share
2.77
2.01
3.49
3.62
2.93
3.24
4.43
4.38
3.63
4.01
1.64
4.9
4.29
3.61
5.44
- -
4.1
Basic EPS, GAAP
3.54
-0.12
4.58
2.98
1.32
2.55
0.29
-0.15
-1.32
3.91
4.13
1.38
5.75
8.51
1.3
- -
1.69
Free Cash Flow per Basic Share
1.47
1.2
1.3
1.5
1
1.5
1.5
1.5
2
1.5
1.25
0.5
1.5
1.3
1.1
- -
- -
Dividend per Share
15.19
15.17
16.95
22.57
18.04
20.6
20.93
22.66
23.02
21.7
29.26
33.48
35.94
18.18
23.14
- -
23.94
Book Value per Share
34.89
39.69
41.05
42.77
47.35
48.21
51.26
49.54
47.56
60.89
64.96
67.23
58.31
65.24
72.67
- -
72.49
Tangible Book Value per Share
2,846
2,886
2,930
2,934
2,944
2,945
2,947
2,947
2,947
2,947
2,947
2,947
2,948
2,947
2,947
- -
2,945
Basic Weighted Avg Shares
193,157
208,439
276,108
226,665
243,976
269,081
274,895
278,632
293,316
313,157
249,954
239,884
267,497
246,634
263,818
251,400
251,400
Sales/Revenue/Turnover
7.28
5.5
5.78
4.46
3.25
4.59
6.47
6.13
4.71
4.45
-0.84
1.03
3.96
4.14
6.05
4.6
4.6
Operating Margin (%)
7,073
7,401
9,637
7,855
7,650
8,352
8,793
9,586
10,549
15,729
16,611
16,777
15,272
13,218
12,832
11,921
11,921
Depreciation Expense
7,896
5,807
10,218
10,619
8,616
9,531
13,057
12,922
10,709
11,829
4,840
14,439
12,645
10,624
16,036
12,068
12,068
Net Income, GAAP
11.72
8.56
8.09
9.72
12.69
17.98
12.47
12.44
19.19
16.35
34.25
3.22
21.19
17.94
21.16
17.3
17.3
Effective Tax Rate (%)
4.09
2.79
3.7
4.69
3.53
3.54
4.75
4.64
3.65
3.78
1.94
6.02
4.73
4.31
6.08
4.8
4.8
Profit Margin (%)
35,581
49,122
49,334
63,972
68,956
55,007
76,588
70,206
71,081
67,404
70,087
74,086
77,968
72,880
82,544
75,911
75,911
Working Capital
29,658
48,905
36,754
39,210
41,968
29,770
50,363
54,462
53,695
68,545
75,823
64,745
56,715
33,581
37,968
41,059
41,059
LT Debt
113,943
125,753
132,545
137,620
152,126
154,804
163,011
158,380
152,198
189,869
201,243
207,497
182,127
202,663
225,143
224,202
224,202
Total Equity
6.9
5.81
7.24
4.44
3.21
4.5
6.65
6.05
4.41
4.15
-0.44
0.76
2.8
2.97
4.28
3.11
3.11
Return on Invested Capital (%)
0.75
0.09
1.63
2.73
2.08
1.61
1.93
2.55
3.08
3.39
2.82
5.21
3.79
3.3
4.98
3.43
3.43
Return on Capital (%)
19.44
13.35
21.87
18.33
14.44
16.75
21.34
20.12
15.91
17.95
6.45
15.62
12.36
13.32
26.34
17.4
17.4
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Jun'25
Sep'25
Dec'25
ST Debt
43,683
40,742
42,923
LT Borrowings
33,823
40,285
37,447
LT Finance Leases
3,561
3,871
3,612
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
2,947
2,947
2,947
Market Capitalization
91,060
84,952
88,780

Working Capital

FRC

•

in mil. unless spec.
Jun'25
Sep'25
Dec'25
Total Current Assets
159,445
160,705
161,076
Cash, Cash Equivalents & STI
66,142
61,902
60,835
Accounts Receivable, Net
30,656
29,798
28,875
Inventories
42,756
46,878
47,395
Total Current Liabilities
85,511
83,394
85,165
Payables & Accruals
- -
- -
- -
ST Debt
43,683
40,742
42,923
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
4.21%
2.57%
-0.42%
Free Cash Flow
39.87%
48.71%
29.41%
Net Income, GAAP
16.63%
39.22%
-24.74%
Sales/Revenue/Turnover
-0.27%
0.39%
-4.71%
Total Cash Common Dividend
- -
33.17%
54.55%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
64,367
63,095
58,296
60,876
246,634
2024
63,289
65,327
66,804
68,398
263,818
2025
67,030
62,776
58,825
62,769
251,400

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
0.34
1.19
2.06
- -
3.61
2024
1.58
1.16
1.94
- -
5.44
2025
1.22
0.53
1.28
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
- -
- -
- -
- -
1.3
2024
- -
- -
- -
- -
1.1
2025
- -
- -
- -
- -
- -
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Business
Pou Chen Corporation (9904.TW) is a Taiwan-based industrial holding company primarily engaged in the manufacturing and supply of branded athletic and casual footwear as the world's largest OEM/ODM provider for international brands including Nike, adidas, Asics, New Balance, Salomon, and Timberland; it also produces sports apparel through its investment in Eagle Nice (International) Holdings Ltd., sports accessories such as bags, backpacks, luggage, and travel gear via Prosperous Industrial (Holdings) Ltd., and related shoe materials, soles, and components via a vertically integrated supply chain. The company operates through key subsidiaries Yue Yuen Industrial (Holdings) Ltd., in which it holds approximately 51% ownership, and Pou Sheng International (Holdings) Ltd., focusing on footwear production, brand licensing, and sportswear retail across an extensive network primarily in Greater China. Founded in September 1969 and headquartered at No. 600, Section 4, Taiwan Boulevard, Xitun District, Taichung City, Taiwan, Pou Chen maintains production facilities in China, Indonesia, Vietnam, the United States, and Mexico to serve global markets. In recent developments, Pou Chen's Vietnam subsidiary Pou Phong Vietnam Company Ltd. expanded operations in 2024 to manufacture complete footwear, including 3.6 million pairs of shoes and shoe uppers annually, with the new segment commencing trial production in August-October 2024 and full operations from November 2024, while ceasing production of shoe materials and molds to streamline focus. The group continues to report consolidated monthly sales, such as NTD 19.4 billion for September 2025 and NTD 188.6 billion for January-September 2025, reflecting ongoing operational scale amid market challenges, with Yue Yuen and Pou Sheng contributing significantly through their USD and RMB-denominated revenues. Earlier strategic moves include pursuits of privatization for retail assets like Pou Sheng to enhance flexibility amid e-commerce shifts, alongside sustained investments in R&D centers and production optimization across Asia.