Feng Tay Enterprise Co., Ltd. (9910) AI Stock Analysis

Feng Tay Enterprise Co., Ltd.

(TWSE:9910)

Select Model

Rating:58Neutral

Price Target:TWD 72.00▲(11.28% Upside)

Action:initiatedcoverage

Date:11/10/26

The overall score of 58 reflects a company with a solid financial foundation but facing near-term headwinds. The primary strength is the company's conservative balance sheet and a very attractive dividend yield, which provide a margin of safety. These are counterbalanced by significant weaknesses: declining revenues and profitability, and a technical picture that shows the stock in a longer-term downtrend. The company is financially stable, but lacks positive catalysts for a higher score.

Positive Factors

Conservative Balance SheetFeng Tay’s declining leverage and sizable equity base provide durable financial flexibility for a cyclical footwear manufacturer. Lower balance-sheet risk can support continued investment, help absorb demand volatility, and reduce pressure from financing obligations over the next several quarters.

Negative Factors

Revenue ContractionFeng Tay’s top-line trajectory has weakened from modest growth to contraction, which may limit operating leverage and reduce the potential for earnings expansion. Sustained softness in customer demand or order volumes would make future growth increasingly dependent on efficiency rather than market expansion.

Feng Tay Enterprise Co., Ltd. (9910) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 64.68B
Dividend Yield: 6.34%
Average Volume (3M): 1.42M
Price to Earnings (P/E): 13.2
Beta (1Y): 0.18
Revenue Growth: -3.73%
EPS Growth: -20.82%
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

Financial performance is mixed. A strong balance sheet (Score: 78) with low debt provides stability, but this is offset by a weak income statement (Score: 45) showing declining revenue and compressed margins. Cash flow (Score: 55) is positive from operations but free cash flow is declining. The overall profile is of a stable company in a cyclical downturn.

Income Statement

45Neutral

Balance Sheet

78Positive

Cash Flow

55Neutral

Financial statement breakdown
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

UnderperformOutperform

Sector (55)

Financial Indicators

TW:9910 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:1477	75Outperform	TWD 52.55B	14.23	―	6.96%	-2.23%	0.65%
TW:9904	68Neutral	TWD 76.17B	5.47	―	5.05%	-6.54%	5.99%
TW:6670	66Neutral	TWD 36.80B	10.92	―	5.99%	10.09%	6.62%
TW:6890	66Neutral	TWD 34.29B	13.95	―	6.10%	-6.82%	-24.71%
TW:6191	63Neutral	TWD 41.79B	14.38	―	3.18%	38.15%	-5.54%
TW:9910	58Neutral	TWD 66.16B	13.15	―	6.34%	-3.73%	-20.82%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%

* General Sector Average

Performance Comparison

TW:9910 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:9910	Feng Tay Enterprise Co., Ltd.	64.70	-57.11	-46.88%
TW:1477	Makalot Industrial Co., Ltd.	215.50	-73.49	-25.43%
TW:6191	Global Brands Manufacture Limited	81.80	-30.85	-27.39%
TW:6670	Fusheng Precision Co. Ltd.	267.00	37.07	16.12%
TW:6890	Lai Yih Footwear Co., Ltd.	147.00	-85.42	-36.75%
TW:9904	Pou Chen Corporation	25.75	-2.59	-9.16%

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

Feng Tay Enterprise Co., Ltd. AI Stock Analysis