Business Overview
[[福懋興業]] (Formosa Taffeta) 為[[台塑集團]]成員，主要從事紡織 (尼龍/聚酯布)、輪胎簾布及油品經營 (福懋加油站)。紡織事業群為全球知名機能性布料供應商，供應運動及戶外服飾品牌；簾布事業群為台灣最大輪胎簾布製造商，供應國內外輪胎大廠；油品事業群經營加油站連鎖通路。
Supply Chain
上游 (原料):
- 石化原料: 尼龍粒、聚酯粒，主要來自[[台塑集團]] ([[台化]]、[[南亞]])
- 油品: 汽柴油由[[台塑化]]供應
中游 (製造):
- 紡織: 織布、染整
- 簾布: 輪胎簾布製造
下游 (終端應用):
- 紡織: 成衣廠、運動品牌
- 簾布: 輪胎廠
- 油品: 終端消費者 (加油站)
Customers and Suppliers
主要客戶
- 紡織: [[Nike]]、[[Adidas]]、[[The North Face]]、[[Patagonia]]、[[Columbia]]
- 簾布: [[正新]]、[[建大]]、[[Bridgestone]]、[[Michelin]]
主要供應商
- 原料: [[台化]]、[[南亞]]等[[台塑集團]]關係企業
Financial Tables
Valuation Metrics (Share price $16.30 as of 2026-03-26 | TTM through 2025-12-31 | Forward forecast through 2026-12-31)
| P/E (TTM) | Forward P/E | P/S (TTM) | P/B | EV/EBITDA |
|---|---|---|---|---|
| 31.96 | 22.96 | 1.00 | 0.65 | 18.19 |
Annual Financials (Last 3 Years)
| 2025-12-31 | 2024-12-31 | 2023-12-31 | |
|---|---|---|---|
| Revenue | 27543.79 | 28715.71 | 28501.51 |
| Gross Profit | 3080.80 | 3071.84 | 2530.44 |
| Gross Margin (%) | 11.19 | 10.70 | 8.88 |
| Selling & Marketing Exp | 1622.84 | 1693.72 | 1574.26 |
| R&D Exp | - | - | - |
| General & Admin Exp | 728.25 | 717.53 | 695.47 |
| Operating Income | 729.71 | 660.58 | 260.71 |
| Operating Margin (%) | 2.65 | 2.30 | 0.91 |
| Net Income | 865.25 | 1490.18 | 444.55 |
| Net Margin (%) | 3.14 | 5.19 | 1.56 |
| Op Cash Flow | 2557.14 | 3308.38 | 4092.71 |
| Investing Cash Flow | -817.84 | -874.30 | -1364.06 |
| Financing Cash Flow | -1866.24 | -3247.57 | -3916.31 |
| CAPEX | -765.77 | -592.16 | -687.42 |
Quarterly Financials (Last 4 Quarters)
| 2025-12-31 | 2025-06-30 | 2025-03-31 | 2024-12-31 | |
|---|---|---|---|---|
| Revenue | 6104.70 | 7245.57 | 7687.77 | 6832.78 |
| Gross Profit | 655.01 | 827.19 | 865.47 | 730.73 |
| Gross Margin (%) | 10.73 | 11.42 | 11.26 | 10.69 |
| Selling & Marketing Exp | 393.14 | 364.90 | 426.20 | 422.88 |
| R&D Exp | - | - | - | - |
| General & Admin Exp | 177.19 | 183.37 | 166.29 | 151.27 |
| Operating Income | 84.69 | 278.92 | 272.99 | 156.59 |
| Operating Margin (%) | 1.39 | 3.85 | 3.55 | 2.29 |
| Net Income | 380.73 | -34.42 | 187.07 | 105.79 |
| Net Margin (%) | 6.24 | -0.48 | 2.43 | 1.55 |
| Op Cash Flow | 224.00 | 765.17 | 326.56 | 520.76 |
| Investing Cash Flow | -409.89 | -54.42 | -99.58 | -497.32 |
| Financing Cash Flow | 181.80 | -508.34 | -40.82 | -669.20 |
| CAPEX | -308.97 | -148.84 | -100.71 | -81.29 |