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  2. •

    Consumer durables

  3. •

    Automotive aftermarket
Kenda Rubber Industrial Co., Ltd

Kenda Rubber Industrial Co., Ltd

TTWSE:2106
16.80
TWD
-0.10
(-0.59%)
0.48EPS
35.44P/E
16.09BMarket Cap
Nov 06Next Earn
Kenda Rubber Industrial Co., Ltd
TWSE:2106
(Taiwan Stock Exchange)

Recent

price

16.80

P/E

ratio

35.44

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
TWD
24.85
29.1
34.26
33.98
34.87
32.72
30.89
31.98
33.02
33.65
31.69
36.54
40.44
36.07
35.82
35.57
36.11
Revenue per Share
1.62
3.16
2.78
3.53
3.85
3.63
3.24
0.34
0.72
1.06
1.02
0.96
0.35
0.92
1.3
0.13
0.48
Basic EPS, GAAP
-0.44
-1.63
3.8
3.82
2.92
3.99
2.55
-3.76
0.17
-1.78
1.51
-3.42
-0.63
4.89
0.45
1.15
0.41
Free Cash Flow per Basic Share
0.64
0.71
0.97
1.31
1.44
1.92
1.98
1.83
1.1
0.92
0.37
0.95
0.95
0.48
1
1.1
- -
Dividend per Share
10.87
13.95
15.28
17.61
21.13
22.71
22.56
20.1
19.91
19.67
20.01
19.62
20.3
20.5
22.08
20.48
20.78
Book Value per Share
10.5
13.89
15.22
17.54
21.06
22.64
22.49
20.04
19.85
19.59
19.95
19.62
20.3
20.5
22.08
20.48
20.78
Tangible Book Value per Share
955
955
955
955
955
955
955
955
955
955
955
955
955
955
955
955
954
Basic Weighted Avg Shares
23,728
27,792
32,711
32,451
33,293
31,240
29,494
30,533
31,526
32,127
30,260
34,896
38,618
34,444
34,203
33,963
34,445
Sales/Revenue/Turnover
8.52
6.65
11.17
13.01
12.91
11.94
11.36
3.86
1.85
3.93
5.17
5.02
0.62
3.74
4.35
1.7
2.45
Operating Margin (%)
883
833
947
994
1,133
1,151
1,108
1,112
1,261
1,469
1,493
1,562
1,843
1,813
1,766
1,812
1,815
Depreciation Expense
1,544
3,019
2,659
3,367
3,677
3,467
3,092
329
689
1,014
972
918
338
881
1,241
125
454
Net Income, GAAP
22.97
15.08
22.74
22.39
19.66
19.2
18.62
49.26
38.71
25.85
24.72
45.46
52.46
32.5
24.81
68.51
37.44
Effective Tax Rate (%)
6.51
10.86
8.13
10.38
11.05
11.1
10.49
1.08
2.19
3.15
3.21
2.63
0.88
2.56
3.63
0.37
1.32
Profit Margin (%)
5,530
9,865
12,759
14,591
18,534
20,947
20,519
15,883
13,530
14,667
12,534
13,478
14,589
13,768
14,153
15,416
15,441
Working Capital
2,711
3,187
5,640
6,916
7,608
9,639
10,275
10,963
9,679
13,514
12,208
14,225
14,534
12,329
13,148
15,285
15,235
LT Debt
10,384
13,324
14,590
16,813
20,173
21,686
21,541
19,198
19,016
18,783
19,110
18,738
19,382
19,573
21,084
19,559
19,846
Total Equity
10.38
8.53
12.68
13.09
11.82
9.08
7.75
1.7
1.02
2.69
3.23
2.53
0.28
2.23
2.84
0.45
1.33
Return on Invested Capital (%)
10.84
17.02
12.13
13.46
13.15
10.98
9.26
1.22
2.41
3.54
3.24
2.72
1.3
3.22
4.07
0.7
1.94
Return on Capital (%)
14.93
25.47
19.05
21.44
19.89
16.56
14.31
1.62
3.61
5.36
5.13
4.85
1.77
4.52
6.1
0.62
2.39
Return on Common Equity (%)

Capital Structure

TWD

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
4,422
4,726
5,302
LT Borrowings
14,595
14,974
14,280
LT Finance Leases
689
930
955
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
955
955
955
Market Capitalization
18,811
17,331
16,090

Working Capital

TWD

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
24,410
25,478
26,039
Cash, Cash Equivalents & STI
9,776
10,150
9,961
Accounts Receivable, Net
3,650
4,326
4,724
Inventories
10,118
10,125
10,191
Total Current Liabilities
8,994
9,731
10,598
Payables & Accruals
- -
- -
- -
ST Debt
4,422
4,726
5,302
Deferred Revenue
- -
- -
- -

Growth Rates

TWD

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
-0.9%
0.59%
-7.23%
Free Cash Flow
-296.55%
-244.66%
153.82%
Net Income, GAAP
9.51%
8.55%
-89.89%
Sales/Revenue/Turnover
1.11%
2.76%
-0.7%
Total Cash Common Dividend
- -
- -
10%

Quarterly Revenue

TWD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
8,265
9,122
8,820
7,995
34,203
2025
8,808
8,955
8,178
8,022
33,963
2026
8,699
9,547
- -
- -
- -

Quarterly Earnings Per Share

TWD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.46
0.44
0.18
0.21
1.3
2025
0.07
-0.09
0.08
0.07
0.13
2026
0.12
0.21
- -
- -
- -

Quarterly Dividends Per Share

TWD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
1
2025
- -
- -
- -
- -
1.1
2026
- -
- -
- -
- -
- -
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Business
Kenda Rubber Industrial Co. Ltd. (2106.TW) manufactures and markets tires and rubber products for a wide range of applications, including bicycles, motorcycles, automobiles, light trucks, powersports vehicles, agricultural machinery, lawn and garden equipment, trailers, golf carts, wheelchairs, and industrial vehicles; it also produces inner tubes, wheels, rims, and carbon fiber products. Founded in 1962 and headquartered in Yuanlin, Taiwan, the company operates manufacturing facilities in Taiwan, China, Vietnam, and Indonesia, with sales and technical centers in the United States, Europe, and other regions serving global OEMs, wholesalers, retailers, and end-users. Kenda engages in trading, investing, wheel and rim production, tire distribution, and marketing services, with its shares listed on the Taiwan Stock Exchange since 1990. The company maintains a diverse product portfolio featuring automotive tires such as passenger car radials, summer and winter SUV tires (e.g., KR606 Kenetica SUV, KR504 Wintergen 2 SUV), all-season 4x4 tires (e.g., KR615 Klever A/T 4S), and commercial van tires (e.g., KR105 Komendo 4S); specialty tires for powersports (ATV/UTVs), trailers, turf, and off-road applications; bicycle and motorcycle/scooter tires and tubes; and lawn & garden, golf cart, and wheelchair tires. Recent developments include the full incorporation of its STARCO subsidiary as the KENDA Europe Specialty business unit in 2024 to enhance tire and wheel offerings in Europe; launch of four new automotive tires at The Tire Cologne 2024, developed at the KENDA Europe Technical Centre in Germany; consideration of a new U.S. manufacturing plant to expand production beyond Asia and mitigate tariff risks; repurposing of its Shenzhen, China facility into a shipping and sales center; and establishment of technical and sales offices to support European growth, including a new all-season EV tire in development. Kenda reported first-quarter 2025 earnings and continues to invest in product innovation amid global market shifts.