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Consumer Non-Durables

Feng Tay Enterprise Co., Ltd.

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 Douliu, Taiwan.

Financial Highlights

Dec 2019 TWDUSD
Revenue73,930.08M2,391.57M
Gross Profit17,465.24M564.98M
Operating income8,404.23M271.86M
Income before tax9,709.23M314.08M
Net income6,230.77M201.56M
EBITDA10,501.08M339.70M
Diluted EPS7.060.22
Dividends Per Share3.330.10
Total Assets41,265.90M1,376.58M
Total liabilities22,532.76M751.66M
Total equity16,613.09M554.19M
Operating cash flow9,390.63M303.77M
Currency in TWDCurrency in USD

Historical Data

 Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019
Revenue 55,803.77M 58,122.45M 58,633.38M 64,497.64M 73,930.08M
Gross Profit 11,370.26M 12,988.74M 12,997.22M 15,257.74M 17,465.24M
Operating income 5,549.56M 6,446.88M 5,819.31M 7,352.30M 8,404.23M
Income before tax 6,191.42M 7,028.38M 6,365.51M 8,563.73M 9,709.23M
Net income 4,237.98M 4,453.28M 4,395.12M 5,262.73M 6,230.77M
EBITDA 6,992.75M 8,123.28M 7,512.28M 9,178.39M 10,501.08M
Diluted EPS 4.80 5.05 4.98 5.96 7.06
Dividends Per Share 3.38 3.93 3.78 5.07 3.33
Total Assets 28,696.90M 30,893.41M 31,037.44M 34,191.00M 41,265.90M
Total liabilities 13,824.01M 15,434.99M 15,605.64M 16,195.62M 22,532.76M
Total equity 13,095.95M 13,845.71M 13,675.14M 15,999.03M 16,613.09M
Operating cash flow 6,870.10M 6,152.23M 5,203.60M 8,528.20M 9,390.63M
 Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019
Revenue 1,757.37M 1,802.20M 1,927.29M 2,138.90M 2,391.57M
Gross Profit 358.07M 402.74M 427.22M 505.98M 564.98M
Operating income 174.76M 199.89M 191.28M 243.82M 271.86M
Income before tax 194.98M 217.92M 209.23M 283.99M 314.08M
Net income 133.46M 138.08M 144.46M 174.52M 201.56M
EBITDA 220.21M 251.87M 246.93M 304.37M 339.70M
Diluted EPS 0.15 0.15 0.16 0.19 0.22
Dividends Per Share 0.10 0.12 0.12 0.16 0.10
Total Assets 873.65M 958.55M 1,042.97M 1,112.37M 1,376.58M
Total liabilities 420.86M 478.91M 524.40M 526.90M 751.66M
Total equity 398.69M 429.60M 459.53M 520.51M 554.19M
Operating cash flow 216.35M 190.76M 171.04M 282.81M 303.77M

Valuation Measures

Dec 2019
PER22.99
ROA16.51%
ROE38.21%
Operating margin11.36%
Profit margin8.42%

Key executives

  • General Manager & Director: Chao Chi Chen
  • Spokesman, Head-Finance & Accounting: Li Chin Chen
  • Deputy General Manager: Po Ya Yu
  • Deputy General Manager: Shih Chung Yeh
  • Deputy General Manager: Ying Chin Chu

Shareholders

  • WANG CHIU HSIUNG (11.0%)
  • WANG LIU MEI HUI (10.8%)
  • CHEN HUI LING (6.4%)
  • CHEN CHEN TSU (4.2%)
  • CHEN SHIH JUNG (3.9%)
  • WANG CHIEN JUNG (3.3%)
  • CHEN LI MING /FENG TAY/ (3.2%)
  • CHEN WEI CHIAO (3.0%)
  • CHEN WANG TSAI YUN (2.8%)
  • WANG CHIEN HUNG (2.8%)

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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