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  2. •

    Consumer durables

  3. •

    Automotive aftermarket
Federal Corp.

Federal Corp.

TTWSE:2102
15.85
TWD
-0.05
(-0.31%)
8.05EPS
2.25P/E
8.32BMarket Cap
Federal Corp.
TWSE:2102
(Taiwan Stock Exchange)

Recent

price

15.85

P/E

ratio

2.25

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
TWD
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
0.45
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
6.28
8.05
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
-0.58
-0.6
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
15.87
17.26
18
19.6
20.65
21.49
20.81
19.68
17.47
15.93
16.41
11.55
8.66
15.64
14.67
20.99
20.91
Book Value per Share
15.81
17.26
18
19.51
20.55
21.41
20.74
19.64
17.41
15.89
16.39
11.52
8.64
15.63
14.66
20.99
20.91
Tangible Book Value per Share
447
447
455
460
460
460
460
460
460
460
460
460
460
460
460
460
489
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
218
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
-104.14
Operating Margin (%)
578
636
593
546
595
631
598
574
620
634
530
529
436
366
221
88
31
Depreciation Expense
321
485
430
638
423
545
-9
-698
-1,226
-670
111
-2,350
-1,356
-1,729
-465
2,885
3,934
Net Income, GAAP
22.39
18.73
24.05
21.6
25.57
21.75
120.09
- -
- -
- -
21.98
- -
- -
- -
- -
1.35
1.51
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
1,806.36
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
2,746
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
9,610
Total Equity
5.02
4
4.37
5.63
3.63
4.7
-0.05
- -
- -
- -
1.57
- -
- -
- -
- -
-2.15
-2.32
Return on Invested Capital (%)
3.99
5.75
4.62
6.21
4.15
5.2
-0.1
- -
- -
- -
1.32
- -
- -
- -
- -
28.4
40.34
Return on Capital (%)
4.28
6.18
5.15
7.17
4.44
5.47
-0.09
-7.39
-14.36
-8.73
1.5
-36.57
-29.2
-30.96
-6.68
35.2
51.67
Return on Common Equity (%)

Capital Structure

TWD

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
59
29
- -
LT Borrowings
- -
- -
- -
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
460
460
460
Market Capitalization
8,985
8,985
8,318

Working Capital

TWD

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
3,443
3,027
2,864
Cash, Cash Equivalents & STI
2,920
2,557
2,739
Accounts Receivable, Net
72
50
55
Inventories
12
2
1
Total Current Liabilities
320
173
118
Payables & Accruals
- -
- -
- -
ST Debt
59
29
- -
Deferred Revenue
- -
- -
- -

Growth Rates

TWD

•

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

TWD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
57
60
79
78
267
2025
76
62
62
66
266
2026
41
49
- -
- -
- -

Quarterly Earnings Per Share

TWD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
-0.19
-0.15
-0.27
-0.39
-1.01
2025
-0.18
-2.19
0.16
8.49
6.28
2026
0.01
-0.1
- -
- -
- -

Quarterly Dividends Per Share

TWD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -
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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.