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Consumer Non-Durables

Feng Tay Enterprise Co. Ltd.

  • 235.00 TWD
  • -9.00
  • -3.69%
  • Taiwan
    Apr 24, 2019
  • Ticker
    TAI(9910)
  • Prev. close
    244.00
  • Market cap (TWD)
    162,977.42M
  • Market cap (USD)
    5,279.82M
  • Shares
    667.94M

Company Background

Feng Tay Enterprises is the second-largest shoemaker in Taiwan and produces mainly athletic shoes. Nike is its biggest customer, with nearly a sixth of the sports shoes sold globally by the U.S. company made by Feng Tay.

In a first among Taiwanese shoemakers, the company introduced a U.S.-style conveyor belt-based production system, drastically improving its productivity.

Feng Tay began making shoes for Nike in the second half of the 1970s. It launched overseas production in 1988, in line with Nike's global business strategy. The company set up a series of plants in China and other countries.

In 1992, Feng Tay and Nike jointly created a research and development center in Taiwan, the first facility of its kind in Asia for the U.S. shoe giant.

Feng Tay has been diversifying in recent years, branching out into nonathletic footwear -- including roller blades -- in 2001 and golf balls, soccer balls and ice hockey gear in 2006.

Feng Tay said in September 2015 it will spend 4.6 billion rupees ($76.3 million) over the next three to five years to expand its Indian plant producing Nike and other shoes.

Business Summary

Feng Tay Enterprise Co., Ltd. engages in the manufacture and sale of sports shoes. Its products include casual shoes; inline skates; skates; ski boots; bicycles shoes; golf, soccer, and ice hockey helmets and clubs; baseball bat; shoe parts; and footwear molds and tools. The company was founded by Chiu Hsiung Wang on July 29, 1971 and is headquartered in Yunlin, Taiwan.

Financial Highlights

Dec 2018 TWDUSD
Revenue64,497.64M2,138.90M
Gross Profit15,257.74M505.98M
Operating income7,352.30M243.82M
Income before tax8,563.73M283.99M
Net income5,262.73M174.52M
EBITDA9,178.39M304.37M
Diluted EPS7.870.26
Dividends Per Share6.700.22
Total Assets34,191.00M1,112.37M
Total liabilities16,195.62M526.90M
Total equity15,999.03M520.51M
Operating cash flow8,528.20M282.81M
Currency in TWDCurrency in USD

Historical Data

 Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018
Revenue 47,653.56M 55,803.77M 58,122.45M 58,633.38M 64,497.64M
Gross Profit 9,436.89M 11,370.26M 12,988.74M 12,997.22M 15,257.74M
Operating income 4,527.39M 5,549.56M 6,446.88M 5,819.31M 7,352.30M
Income before tax 5,000.67M 6,191.42M 7,028.38M 6,365.51M 8,563.73M
Net income 3,087.15M 4,237.98M 4,453.28M 4,395.12M 5,262.73M
EBITDA 5,819.83M 6,992.75M 8,123.28M 7,512.28M 9,178.39M
Diluted EPS 4.62 6.34 6.67 6.58 7.87
Dividends Per Share 3.20 4.46 5.20 5 6.70
Total Assets 25,396.73M 28,696.90M 30,893.41M 31,037.44M 34,191.00M
Total liabilities 12,973.14M 13,824.01M 15,434.99M 15,605.64M 16,195.62M
Total equity 10,852.99M 13,095.95M 13,845.71M 13,675.14M 15,999.03M
Operating cash flow 4,652.63M 6,870.10M 6,152.23M 5,203.60M 8,528.20M
 Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018
Revenue 1,572.55M 1,757.37M 1,802.20M 1,927.29M 2,138.90M
Gross Profit 311.41M 358.07M 402.74M 427.22M 505.98M
Operating income 149.40M 174.76M 199.89M 191.28M 243.82M
Income before tax 165.02M 194.98M 217.92M 209.23M 283.99M
Net income 101.87M 133.46M 138.08M 144.46M 174.52M
EBITDA 192.05M 220.21M 251.87M 246.93M 304.37M
Diluted EPS 0.15 0.19 0.20 0.21 0.26
Dividends Per Share 0.10 0.14 0.16 0.16 0.22
Total Assets 803.64M 873.65M 958.55M 1,042.97M 1,112.37M
Total liabilities 410.51M 420.86M 478.91M 524.40M 526.90M
Total equity 343.42M 398.69M 429.60M 459.53M 520.51M
Operating cash flow 153.53M 216.35M 190.76M 171.04M 282.81M

Valuation Measures

Dec 2018
PER22.27
ROA16.13%
ROE35.47%
Operating margin11.39%
Profit margin8.15%

Key executives

  • General Manager & Director: Chien Hung Wang
  • Head-Finance & Accounting: Li Chin Chen
  • Director & General Manager-First Business Division: Chao Chi Chen
  • Deputy General Manager-First Business Division: Po Ya Yu
  • Director & GM-Second Business Division: Chien Jung Wang

Shareholders

  • WANG CHIU HSIUNG (11.0%)
  • WANG LIU MEI HUI (10.8%)
  • CHEN HUI LING (6.4%)
  • CHEN SHIH JUNG (3.9%)
  • WANG CHIEN HUNG (2.8%)
  • WANG CHIEN JUNG (2.8%)
  • The Vanguard Group, Inc. (1.7%)
  • BlackRock Fund Advisors (1.3%)
  • Norges Bank Investment Management (0.7%)
  • NICKERSON PETER DALE (0.6%)

Contact Details

  • Website:http://www.fengtay.com
  • Address: No. 52, Kegong 8th Road, Yunlin County, Douliu, 640 64, Taiwan
  • Phone: +886.5.5379100

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Competitors

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