FDC International Hotels Corp. (2748) AI Stock Analysis

FDC International Hotels Corp.

(TWSE:2748)

Select Model

Rating:59Neutral

Price Target:TWD 37.00▲(1.51% Upside)

Action:initiatedcoverage

Date:11/09/26

FDC International Hotels scores in the moderate range. The most significant driver is financial performance: a markedly de-levered balance sheet (debt-to-equity of 0.40) and continued profitability are offset by an FY2025 earnings downcycle, with revenue down about 18%, margins compressing at every level, net income down roughly 31%, and weaker operating and free cash flow. Technicals are the main drag — the stock trades below all key moving averages with negative MACD, though deeply oversold RSI and Stochastic readings suggest selling may be extended. Valuation provides the key offset, with an undemanding 14.1x P/E and a 4.88% dividend yield supported by positive free cash flow. Earnings call and corporate event components were excluded due to a lack of data, with their weight redistributed across the remaining factors.

Positive Factors

Lower LeverageMaterial deleveraging has reduced financial risk and improved resilience for the hotel operator. A debt-to-equity ratio near 0.40x provides greater flexibility to absorb weaker trading, maintain operations, and fund necessary investment without relying as heavily on external financing.

Negative Factors

Revenue ContractionA sharp annual revenue contraction weakens the near-term earnings base and indicates that the hotel portfolio is facing a meaningful top-line headwind. Persistent lower revenue would reduce operating leverage, constrain reinvestment, and make it harder to sustain profitability across the next several quarters.

FDC International Hotels Corp. (2748) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 3.86B
Dividend Yield: 4.80%
Average Volume (3M): 64.91K
Price to Earnings (P/E): 14.3
Beta (1Y): 0.35
Revenue Growth: 1.40%
EPS Growth: 14.56%
Country: TW
Employees: 870
Sector: General
Sector Strength: 55
Industry: Travel Lodging

FDC International Hotels Corp. Business Overview & Revenue Model

Company Description

Based in Taiwan, FDC International Hotels Corporation specializes in the management and operation of international tourist hotels and restaurant facilities. The company's portfolio includes well-known properties such as the Yunpin Hot Spring Hotel Su...

FDC International Hotels Corp. Financial Statement Overview

Summary

A financially sound but slowing business. The balance sheet is the clear strength (score 76): debt has been halved to NT$1.22bn since 2021, equity has nearly doubled to NT$3.04bn, and debt-to-equity has fallen to a conservative 0.40 for a capital-intensive lodging operator. Offsetting this, the income statement (58) and cash flow (58) show a clear downcycle — FY2025 revenue fell roughly 18%, gross, operating and net margins all compressed, net income dropped about 31% to NT$229m, and ROE eased to 7.5%. Operating cash flow fell to NT$262m from NT$493m and free cash flow declined about 21%, though cash conversion improved to roughly 74% of net income and EBITDA margin remains healthy at 26.4%. Overall: resilient and cash-generative, but needing to restore top-line growth and margin stability.

Income Statement

58Neutral

Balance Sheet

76Positive

Cash Flow

58Neutral

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	2.49B	2.42B	2.44B	2.36B	2.07B	1.45B
Gross Profit	769.82M	722.48M	811.98M	783.23M	642.91M	257.61M
EBITDA	650.35M	640.58M	752.16M	693.96M	596.90M	321.19M
Net Income	268.43M	229.06M	330.91M	283.17M	199.57M	-29.31M
Balance Sheet
Total Assets	4.86B	4.99B	5.02B	4.98B	4.86B	4.75B
Cash, Cash Equivalents and Short-Term Investments	1.22B	1.27B	1.43B	1.41B	1.67B	1.23B
Total Debt	1.16B	1.22B	1.36B	1.43B	2.20B	2.44B
Total Liabilities	1.90B	1.95B	2.07B	2.15B	2.84B	3.02B
Stockholders Equity	2.95B	3.04B	2.95B	2.83B	2.02B	1.73B
Cash Flow
Free Cash Flow	213.24M	192.94M	324.90M	-19.79M	597.68M	235.07M
Operating Cash Flow	266.07M	261.86M	493.25M	104.67M	627.22M	283.56M
Investing Cash Flow	210.21M	557.68M	-69.55M	-511.30M	-324.49M	-42.09M
Financing Cash Flow	-348.50M	-347.44M	-340.49M	-256.69M	-166.35M	754.64M

FDC International Hotels Corp. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:2748 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:2755	70Outperform	TWD 4.12B	14.26	―	3.98%	19.14%	22.20%
TW:5432	68Neutral	TWD 3.33B	17.46	―	0.93%	16.37%	526.93%
TW:2910	66Neutral	TWD 3.89B	12.06	―	4.68%	1.41%	40.69%
TW:2748	59Neutral	TWD 3.86B	14.35	―	4.80%	1.40%	14.56%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
TW:2601	44Neutral	TWD 3.47B	-3.13	―	―	―	―

* General Sector Average

Performance Comparison

TW:2748 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:2748	FDC International Hotels Corp.	36.45	-5.76	-13.64%
TW:2601	First Steamship Co., Ltd.	5.10	-1.66	-24.57%
TW:2755	YoungQin International Co. Ltd.	88.00	-8.98	-9.26%
TW:2910	Tonlin Department Store Co., Ltd.	22.20	2.00	9.93%
TW:5432	Solomon Data International Corporation	161.00	31.89	24.70%
TW:7791	Lucky Royal Co. Ltd.	46.45	-23.66	-33.74%

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Nov 09, 2026

FDC International Hotels Corp. AI Stock Analysis