Feng Tay Enterprise Co., Ltd. AI Stock Analysis
Feng Tay Enterprise Co., Ltd. (9910) AI Stock Analysis
Feng Tay Enterprise Co., Ltd.
(TWSE:9910)
Feng Tay scores in the upper-middle range, anchored by a very strong financial position: low leverage (debt-to-equity 0.25), ~19.5% return on shareholder capital, and high-quality cash generation with operating cash flow at 1.7x net income and free cash flow of NT$5.7 billion. The main drag is the income statement, where revenue has declined for a second year and net margins have compressed to 6%, reflecting soft demand and heavy customer concentration in athletic footwear. Valuation is supportive, with a modest 14x P/E and a 5.9% dividend yield that rewards investors while the cycle normalizes. Technicals are neutral — the stock is stabilizing around its short-term moving averages but still trades below its 200-day average, indicating the market awaits evidence of a turn in brand customer orders.
Feng Tay Enterprise Co., Ltd. (9910) vs. SPDR S&P 500 ETF (SPY)
- Market Cap
- TWD 66.16B
- Dividend Yield
- 6.05%
- Average Volume (3M)
- 1.38M
- Price to Earnings (P/E)
- 13.7
- Beta (1Y)
- 0.19
- Revenue Growth
- -4.34%
- EPS Growth
- -0.53%
- Country
- TW
- Employees
- 135,000
- Sector
- General
- Sector Strength
- 55
- Industry
- Apparel - Footwear & Accessories
Feng Tay Enterprise Co., Ltd. Business Overview & Revenue Model
Company Description
Founded in 1971 and based in Douliu, Taiwan, Feng Tay Enterprises Co., Ltd. is an enterprise focused on the global production and distribution of athletic footwear.
Feng Tay Enterprise Co., Ltd. Financial Statement Overview
Summary
A conservatively financed business with excellent cash conversion, offset by a softening top line. Revenue fell about 4.5% to NT$83.5 billion and net income dropped roughly 14% to NT$5.0 billion, with net margin compressing to 6.0% and profits now ~45% below the 2022 peak (Income Statement: 62). The balance sheet is the standout, with debt-to-equity of just 0.25, equity funding about half of assets, and return on shareholder capital near 19.5% (Balance Sheet: 80). Cash flow also improved, with operating cash flow rising to NT$8.7 billion (roughly 1.7x net income) and free cash flow up 13% to NT$5.7 billion (Cash Flow: 76). Key risk remains customer concentration and continued order/margin softness.
Income Statement
62PositiveBalance Sheet
80PositiveCash Flow
76Positive| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 82.00B | 83.51B | 87.49B | 85.77B | 95.90B | 70.35B |
| Gross Profit | 16.25B | 18.75B | 19.81B | 17.78B | 23.29B | 15.90B |
| EBITDA | 9.31B | 11.25B | 12.04B | 10.24B | 16.50B | 9.60B |
| Net Income | 4.86B | 5.04B | 5.87B | 4.97B | 9.08B | 4.54B |
Balance Sheet | ||||||
| Total Assets | 51.84B | 52.69B | 54.39B | 50.65B | 51.31B | 46.93B |
| Cash, Cash Equivalents and Short-Term Investments | 3.77B | 5.28B | 5.14B | 3.86B | 5.57B | 4.87B |
| Total Debt | 4.96B | 6.43B | 7.00B | 6.31B | 3.55B | 9.76B |
| Total Liabilities | 26.48B | 24.87B | 25.56B | 25.59B | 24.44B | 27.06B |
| Stockholders Equity | 23.65B | 25.80B | 26.84B | 23.16B | 24.99B | 18.11B |
Cash Flow | ||||||
| Free Cash Flow | 4.86B | 5.69B | 5.06B | 3.10B | 12.25B | -1.72B |
| Operating Cash Flow | 7.42B | 8.72B | 8.22B | 7.30B | 16.85B | 1.76B |
| Investing Cash Flow | -2.39B | -2.72B | -2.97B | -4.34B | -4.87B | -3.18B |
| Financing Cash Flow | -4.82B | -5.50B | -4.26B | -4.50B | -10.93B | 710.50M |
Feng Tay Enterprise Co., Ltd. Peers Comparison
Overall Rating
TW:147775Outperform
TW:990468Neutral- TW:991068Neutral
TW:667066Neutral
TW:689066Neutral
TW:619163Neutral
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| TW:1477 | 75Outperform | TWD 53.16B | 14.23 | ― | 6.96% | -2.23% | 0.65% |
| TW:9904 | 68Neutral | TWD 76.62B | 5.41 | ― | 5.00% | -6.54% | 5.99% |
| TW:9910 | 68Neutral | TWD 66.95B | 13.66 | ― | 6.05% | -4.34% | -0.53% |
| TW:6670 | 66Neutral | TWD 36.24B | 10.59 | ― | 6.15% | 1.20% | -8.30% |
| TW:6890 | 66Neutral | TWD 35.04B | 13.28 | ― | 6.41% | -6.82% | -24.69% |
| TW:6191 | 63Neutral | TWD 41.64B | 14.41 | ― | 3.11% | 38.15% | -5.47% |
| Sector * | 55Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| TW:9910 | Feng Tay Enterprise Co., Ltd. | 67.80 | -51.62 | -43.23% | |
| TW:1477 | Makalot Industrial Co., Ltd. | 215.50 | -61.75 | -22.27% | |
| TW:6191 | Global Brands Manufacture Limited | 83.70 | -35.78 | -29.95% | |
| TW:6670 | Fusheng Precision Co. Ltd. | 260.00 | 21.10 | 8.83% | |
| TW:6890 | Lai Yih Footwear Co., Ltd. | 140.00 | -94.81 | -40.38% | |
| TW:9904 | Pou Chen Corporation | 26.00 | -2.25 | -7.96% |
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