TPE/2903 (TPE/2903)

Taiwan Stock Exchange: TPE/2903 · TWD

NT$22.0

+0.05 (+0.2%)· Recorded snapshot

Market cap	30.9B
Revenue (ttm)	34B
Net income (ttm)	2.1B
EPS (ttm)	NT$1.49
Shares out	1.4B
P/E (trailing)	14.7x
Dividend	NT$1.25 (5.70%)
Volume	691,165
Beta	0.06

Market data

Price

Recent price action with selectable time range.

Financial snapshot

Revenue (ttm): 34B
Net income (ttm): 2.1B
EPS (ttm): NT$1.49
P/E (trailing): 14.7x
Market cap: 30.9B

Calendar

Next earnings

Upcoming earnings date and setup when available.

Upcoming

DateLoading

Window—

EPS estimate—

Revenue estimate—

Sector percentile context

Refreshed 2026-10-28 19:55 UTC

Forward P/En/a

P25 n/aP50 n/aP75 n/a

Trailing P/E14.7

P25 n/aP50 n/aP75 n/a

ROE6.6

P25 n/aP50 n/aP75 n/a

ROIC3.9

P25 n/aP50 n/aP75 n/a

Benchmarks · 1M

S&P 500+0.8%

Nasdaq Composite-1.0%

Dow Jones Industrial Average+1.9%

Russell 2000+0.3%

All TPE/2903 indicators

Market & fundamental data

Available fields

253

Groups with data

Currency

TWD

Showing 253 of 253 available metrics for this ticker.

Profile and market data

Ticker identity, listing, currency, market cap, and source dates.

Metric	Value
Amount currency	TWD
Country	Taiwan
Country code	TW
Earnings date	2026-11-13
Employees	1,351
Enterprise value	TWD 81.3B
Exchange	Taiwan Stock Exchange
Financial currency	TWD
Financial report date	2026-06-30
First seen	2026-05-10
Fiscal year end	December
Founded	1967
Industry	Department Stores
Is primary listing	Yes
ISIN number	TW0002903002
Last earnings date	2025-11-13
Last refreshed	2026-10-28
Last stock split date	2014-08-27
Last stock split type	Forward
Market cap	TWD 30.9B
Next earnings date	2026-11-13
Price	TWD 21.95
Price currency	TWD
Sector	Consumer Discretionary
SIC code	5311
Stock price date	2026-10-28
Symbol	tpe/2903
Website	https://www.feds.com.tw

Valuation

Multiples, yields, enterprise-value ratios, and valuation checks.

Metric	Value
Average P/E ratio (10Y)	17.44x
Average P/E ratio (3Y)	15.01x
Average P/E ratio (5Y)	16.84x
Earnings yield	6.79%
EV/Earnings	38.75x
EV/EBIT	16.92x
EV/EBITDA	7.63x
EV/FCF	13.88x
EV/Sales	2.39x
FCF / EV yield	7.21%
FCF yield	18.96%
Graham number	26.73529
Graham upside	21.8%
Industry P/E	27x
Lynch fair value	TWD 7.45
Lynch upside	-66.06%
P/B ratio	0.88x
P/E ratio	14.73x
P/FCF ratio	5.27x
P/OCF ratio	3.35x
P/S ratio	0.91x
Price / tangible book value	1.12x
Price/EBITDA ratio	4.93x
Sector forward P/E	16.93x
Sector P/E	16.84x

Profitability

Margins, returns on capital, cash conversion, and quality metrics.

Metric	Value
EBIT margin	12.79%
EBITDA margin	18.42%
Effective tax rate	26.29%
FCF margin	17.23%
Gross margin	57.87%
Operating margin	12.79%
Pretax margin	9.31%
Profit margin	6.17%
Profit per employee	TWD 1.6M
Profitable quarters	16
Profitable years	22
Revenue per employee	TWD 25.2M
ROA	2.05%
ROA (5Y)	2.05%
ROCE	5.08%
ROE	6.63%
ROE (5Y)	7.26%
ROIC	3.94%
ROIC (5Y)	4.52%
Tax / revenue	2.45%

Growth

Revenue, earnings, cash-flow, and forward growth indicators.

Metric	Value
EPS growth	0.72%
EPS growth (Q)	-44.04%
EPS growth (QoQ)	-59%
EPS growth 10Y	1.41%
EPS growth 3Y	-10.51%
EPS growth 5Y	-0.13%
EPS growth years	0
FCF growth	1.64%
FCF growth 3Y	-21.28%
FCF growth 5Y	6.51%
Gross profit growth	0.3%
Gross profit growth (Q)	-0.91%
Gross profit growth 3Y	-1.54%
Gross profit growth 5Y	1.21%
Net income growth	0.72%
Net income growth (Q)	-44.04%
Net income growth (QoQ)	-59.21%
Net income growth 3Y	-10.54%
Net income growth 5Y	-0.2%
Net income growth years	0
OCF growth	19.5%
OCF growth (Q)	-98.41%
OCF growth 10Y	5.99%
OCF growth 3Y	-12.6%
OCF growth 5Y	8.56%
Operating income growth	9.2%
Operating income growth (Q)	6.56%
Operating income growth 3Y	-9.64%
Operating income growth 5Y	1.64%
Revenue growth	-0.95%
Revenue growth (Q)	-0.27%
Revenue growth (QoQ)	-10.98%
Revenue growth 10Y	-2.66%
Revenue growth 3Y	-2.93%
Revenue growth 5Y	-1.73%
Revenue growth years	0

Financial statements

Income-statement and cash-flow amounts, totals and per share.

Metric	Value
Capital expenditures	TWD -3.4B
Depreciation and amortization	TWD 1.9B
EBIT	TWD 4.4B
EBITDA	TWD 6.3B
EPS	TWD 1.49
FCF per share	TWD 4.16
Financing cash flow	TWD -6.8B
Free cash flow	TWD 5.9B
Gross profit	TWD 19.7B
Income taxes	TWD 832.4M
Investing cash flow	TWD -3.8B
Net borrowing	TWD -4.4B
Net cash flow	TWD -1.2B
Net income	TWD 2.1B
Operating income	TWD 4.4B
Revenue	TWD 34B

Financial strength

Debt, cash, solvency, accounting-quality, and balance-sheet signals.

Metric	Value
Altman Z-Score	0.45
Book value per share	TWD 21.32
Debt / EBITDA	6.23
Debt / equity	1.82
Debt / FCF	10.85
Interest coverage	3.02
Long-term assets	TWD 107.9B
Long-term liabilities	TWD 50.7B
Net cash (debt)	TWD -45.5B
Net cash / market cap	-147.15%
Net debt / EBITDA	7.26
Net debt / equity	1.3
Net debt / FCF	7.76
Piotroski F-Score	7
Property, plant and equipment	TWD 78.4B
Shareholders' equity	TWD 35B
Tangible book value	TWD 27.7B
Tangible book value per share	TWD 19.66
Total assets	TWD 129.7B
Total cash	TWD 18.1B
Total debt	TWD 63.6B
Total liabilities	TWD 94.7B
WACC	2.62%

Liquidity

Current-asset coverage and working-capital efficiency metrics.

Metric	Value
Asset turnover	0.26
Current assets	TWD 21.8B
Current liabilities	TWD 44B
Current ratio	0.49
Inventory turnover	8.09
Net working capital	TWD -24.1B
Quick ratio	0.44
Working capital	TWD -22.3B
Working capital turnover	-1.58

Dividends and buybacks

Dividend yield, payout, buybacks, and shareholder-yield indicators.

Metric	Value
Buyback yield / dilution	0.06%
Dividend growth	-7.41%
Dividend growth (10Y)	2.26%
Dividend growth (3Y)	4.35%
Dividend growth (5Y)	2.59%
Dividend growth years	0
Dividend payment date	2026-07-24
Dividend payment years	23
Dividend payout frequency	Annual
Dividend per share	TWD 1.25
Dividend yield	5.7%
Ex-dividend date	2026-07-01
FCF payout ratio	30.04%
Last dividend	TWD 1.25
Payout ratio	91.05%
Shareholder yield	5.75%

Performance and technicals

Returns, volatility, beta, momentum, RSI, and moving-average context.

Metric	Value
10Y price change	30.75%
10Y return CAGR	7.76%
10Y total return	111.2%
150-day SMA	TWD 22.46
15Y price change	-49.3%
15Y return CAGR	0.06%
15Y total return	0.86%
1D price change	0.23%
1M price change	-0.9%
1M total return	-0.9%
1W price change	-1.57%
1W total return	-1.57%
1Y price change	-2.01%
1Y return CAGR	3.62%
1Y total return	3.62%
20-day SMA	TWD 22.09
200-day SMA	TWD 22.45
20Y price change	69.03%
20Y return CAGR	6.82%
20Y total return	274.47%
3M price change	-1.57%
3M total return	-1.57%
3Y price change	-7.2%
3Y return CAGR	3.17%
3Y total return	9.82%
50-day SMA	TWD 22.18
50-day SMA vs 200-day SMA	50under200
52-week high	TWD 24.50
52-week high date	2026-06-18
52-week low	TWD 21.15
52-week low date	2025-11-05
5Y price change	-1.79%
5Y return CAGR	5.02%
5Y total return	27.73%
6M price change	-1.35%
6M total return	4.32%
All-time high	TWD 56.55
All-time high date	2011-07-22
All-time low	TWD 3.46
All-time low date	2002-10-07
Average true range (ATR)	TWD 0.23
Average volume	1.3M
Beta (1Y)	-0.16
Beta (2Y)	0.09
Beta (5Y)	0.06
Change from 52-week high	-10.41%
Change from 52-week low	3.78%
Change from all-time high	-61.28%
Change from all-time low	532.4%
Change from open	-0.23%
Day's gap	0.46%
Dollar volume	TWD 15.2M
High price	TWD 22.05
Low price	TWD 21.85
Monthly RSI	45.22
Open price	TWD 22.00
Position in 52-week range	50%
Previous close	TWD 21.90
Price vs 150-day SMA	-2.48%
Price vs 20-day SMA	-0.85%
Price vs 200-day SMA	-2.46%
Price vs 50-day SMA	-1.25%
Relative volume	0.55
RSI	44.13
Sharpe ratio	0.12
Sharpe ratio (3Y)	0.06
Sharpe ratio (5Y)	0.16
Sortino ratio	0.55
Sortino ratio (3Y)	0.36
Sortino ratio (5Y)	0.54
Volume	691.2K
Weekly RSI	46.08
YTD price change	-0.45%
YTD total return	5.27%

Ownership and float

Institutional, insider, float, short-interest, and share-count fields.

Metric	Value
Float	993.9M
Shares change (QoQ)	-0.17%
Shares change (YoY)	-0.06%
Shares held by insiders	0.23%
Shares held by institutions	15.32%
Shares outstanding	1.4B

Deeper analysis on TPE/2903

14 sections in the full report · jump straight to what you need

Forecast

Base and Bull forecast paths with report-date return framing.

→

Valuation

Fair-value bridge, DCF, owner earnings, and peer multiples.

→

Sensitivity

Cost-of-equity and terminal-growth stress table.

→

Risks

Kill scenarios, soft-pass flags, and downside catalysts.

→

Earnings

Next earnings setup and beat / inline / miss thresholds.

→

Position sizing

Entry, exit, conviction, and quarterly monitoring rules.

→

Financials

Revenue, margins, cash flow, and balance-sheet context.

→

Peers

Relative valuation and profitability against the cohort.

→

Moat

Economic-profit evidence and competitive advantage risk.

→

Industry cycle

Sector phase, capital cycle, and secular tailwinds.

→

Scorecard

Six-factor overlay and 9-category weighted scorecard.

→

Recommendation

Final action, action steps, opportunity, and biggest risk.

→

Perspectives

Growth, value, and income investor reads.

→

Frequently asked questions

About this TPE/2903 report

Is a complete TPE/2903 research report available?

No complete published report is available for tpe/2903 (TPE/2903) on this page. Market-directory data, when present, is not a substitute for a validated stock analysis.

Market cap

30.9B

Revenue (ttm)

34B

Net income (ttm)

2.1B

EPS (ttm)

NT$1.49

Shares out

1.4B

P/E (trailing)

14.7x

Dividend

NT$1.25 (5.70%)

Volume

691,165

Beta

0.06

Metric

Value

Amount currency

TWD

Country

Taiwan

Country code

Earnings date

2026-11-13

Employees

1,351

Enterprise value

TWD 81.3B

Exchange

Taiwan Stock Exchange

Financial currency

TWD

Financial report date

2026-06-30

First seen

2026-05-10

Fiscal year end

December

Founded

1967

Industry

Department Stores

Is primary listing

Yes

ISIN number

TW0002903002

Last earnings date

2025-11-13

Last refreshed

2026-10-28

Last stock split date

2014-08-27

Last stock split type

Forward

Market cap

TWD 30.9B

Next earnings date

2026-11-13

Price

TWD 21.95

Price currency

TWD

Sector

Consumer Discretionary

SIC code

5311

Stock price date

2026-10-28

Symbol

tpe/2903

Website

https://www.feds.com.tw

Metric

Value

Average P/E ratio (10Y)

17.44x

Average P/E ratio (3Y)

15.01x

Average P/E ratio (5Y)

16.84x

Earnings yield

6.79%

EV/Earnings

38.75x

EV/EBIT

16.92x

EV/EBITDA

7.63x

EV/FCF

13.88x

EV/Sales

2.39x

FCF / EV yield

7.21%

FCF yield

18.96%

Graham number

26.73529

Graham upside

21.8%

Industry P/E

27x

Lynch fair value

TWD 7.45

Lynch upside

-66.06%

P/B ratio

0.88x

P/E ratio

14.73x

P/FCF ratio

5.27x

P/OCF ratio

3.35x

P/S ratio

0.91x

Price / tangible book value

1.12x

Price/EBITDA ratio

4.93x

Sector forward P/E

16.93x

Sector P/E

16.84x

Metric

Value

EBIT margin

12.79%

EBITDA margin

18.42%

Effective tax rate

26.29%

FCF margin

17.23%

Gross margin

57.87%

Operating margin

12.79%

Pretax margin

9.31%

Profit margin

6.17%

Profit per employee

TWD 1.6M

Profitable quarters

Profitable years

Revenue per employee

TWD 25.2M

ROA

2.05%

ROA (5Y)

2.05%

ROCE

5.08%

ROE

6.63%

ROE (5Y)

7.26%

ROIC

3.94%

ROIC (5Y)

4.52%

Tax / revenue

2.45%

Metric

Value

EPS growth

0.72%

EPS growth (Q)

-44.04%

EPS growth (QoQ)

-59%

EPS growth 10Y

1.41%

EPS growth 3Y

-10.51%

EPS growth 5Y

-0.13%

EPS growth years

FCF growth

1.64%

FCF growth 3Y

-21.28%

FCF growth 5Y

6.51%

Gross profit growth

0.3%

Gross profit growth (Q)

-0.91%

Gross profit growth 3Y

-1.54%

Gross profit growth 5Y

1.21%

Net income growth

0.72%

Net income growth (Q)

-44.04%

Net income growth (QoQ)

-59.21%

Net income growth 3Y

-10.54%

Net income growth 5Y

-0.2%

Net income growth years

OCF growth

19.5%

OCF growth (Q)

-98.41%

OCF growth 10Y

5.99%

OCF growth 3Y

-12.6%

OCF growth 5Y

8.56%

Operating income growth

9.2%

Operating income growth (Q)

6.56%

Operating income growth 3Y

-9.64%

Operating income growth 5Y

1.64%

Revenue growth

-0.95%

Revenue growth (Q)

-0.27%

Revenue growth (QoQ)

-10.98%

Revenue growth 10Y

-2.66%

Revenue growth 3Y

-2.93%

Revenue growth 5Y

-1.73%

Revenue growth years

Metric

Value

Capital expenditures

TWD -3.4B

Depreciation and amortization

TWD 1.9B

EBIT

TWD 4.4B

EBITDA

TWD 6.3B

EPS

TWD 1.49

FCF per share

TWD 4.16

Financing cash flow

TWD -6.8B

Free cash flow

TWD 5.9B

Gross profit

TWD 19.7B

Income taxes

TWD 832.4M

Investing cash flow

TWD -3.8B

Net borrowing

TWD -4.4B

Net cash flow

TWD -1.2B

Net income

TWD 2.1B

Operating income

TWD 4.4B

Revenue

TWD 34B

Metric

Value

Altman Z-Score

0.45

Book value per share

TWD 21.32

Debt / EBITDA

6.23

Debt / equity

1.82

Debt / FCF

10.85

Interest coverage

3.02

Long-term assets

TWD 107.9B

Long-term liabilities

TWD 50.7B

Net cash (debt)

TWD -45.5B

Net cash / market cap

-147.15%

Net debt / EBITDA

7.26

Net debt / equity

1.3

Net debt / FCF

7.76

Piotroski F-Score

Property, plant and equipment

TWD 78.4B

Shareholders' equity

TWD 35B

Tangible book value

TWD 27.7B

Tangible book value per share

TWD 19.66

Total assets

TWD 129.7B

Total cash

TWD 18.1B

Total debt

TWD 63.6B

Total liabilities

TWD 94.7B

WACC

2.62%

Metric

Value

Asset turnover

0.26

Current assets

TWD 21.8B

Current liabilities

TWD 44B

Current ratio

0.49

Inventory turnover

8.09

Net working capital

TWD -24.1B

Quick ratio

0.44

Working capital

TWD -22.3B

Working capital turnover

-1.58

Metric

Value

Buyback yield / dilution

0.06%

Dividend growth

-7.41%

Dividend growth (10Y)

2.26%

Dividend growth (3Y)

4.35%

Dividend growth (5Y)

2.59%

Dividend growth years

Dividend payment date

2026-07-24

Dividend payment years

Dividend payout frequency

Annual

Dividend per share

TWD 1.25

Dividend yield

5.7%

Ex-dividend date

2026-07-01

FCF payout ratio

30.04%

Last dividend

TWD 1.25

Payout ratio

91.05%

Shareholder yield

5.75%

Metric

Value

10Y price change

30.75%

10Y return CAGR

7.76%

10Y total return

111.2%

150-day SMA

TWD 22.46

15Y price change

-49.3%

15Y return CAGR

0.06%

15Y total return

0.86%

1D price change

0.23%

1M price change

-0.9%

1M total return

-0.9%

1W price change

-1.57%

1W total return

-1.57%

1Y price change

-2.01%

1Y return CAGR

3.62%

1Y total return

3.62%

20-day SMA

TWD 22.09

200-day SMA

TWD 22.45

20Y price change

69.03%

20Y return CAGR

6.82%

20Y total return

274.47%

3M price change

-1.57%

3M total return

-1.57%

3Y price change

-7.2%

3Y return CAGR

3.17%

3Y total return

9.82%

50-day SMA

TWD 22.18

50-day SMA vs 200-day SMA

50under200

52-week high

TWD 24.50

52-week high date

2026-06-18

52-week low

TWD 21.15

52-week low date

2025-11-05

5Y price change

-1.79%

5Y return CAGR

5.02%

5Y total return

27.73%

6M price change

-1.35%

6M total return

4.32%

All-time high

TWD 56.55

All-time high date

2011-07-22

All-time low

TWD 3.46

All-time low date

2002-10-07

Average true range (ATR)

TWD 0.23

Average volume

1.3M

Beta (1Y)

-0.16

Beta (2Y)

0.09

Beta (5Y)

0.06

Change from 52-week high

-10.41%

Change from 52-week low

3.78%

Change from all-time high

-61.28%

Change from all-time low

532.4%

Change from open

-0.23%

Day's gap

0.46%

Dollar volume

TWD 15.2M

High price

TWD 22.05

Low price

TWD 21.85

Monthly RSI

45.22

Open price

TWD 22.00

Position in 52-week range

50%

Previous close

TWD 21.90

Price vs 150-day SMA

-2.48%

Price vs 20-day SMA

-0.85%

Price vs 200-day SMA

-2.46%

Price vs 50-day SMA

-1.25%

Relative volume

0.55

RSI

44.13

Sharpe ratio

0.12

Sharpe ratio (3Y)

0.06

Sharpe ratio (5Y)

0.16

Sortino ratio

0.55

Sortino ratio (3Y)

0.36

Sortino ratio (5Y)

0.54

Volume

691.2K

Weekly RSI

46.08

YTD price change

-0.45%

YTD total return

5.27%

Metric

Value

Float

993.9M

Shares change (QoQ)

-0.17%

Shares change (YoY)

-0.06%

Shares held by insiders

0.23%

Shares held by institutions

15.32%

Shares outstanding

1.4B

TPE/2903 (TPE/2903)

Price

Financial snapshot

Fair-value bridge

Latest news · TPE/2903

Valuation

Profitability

Balance sheet

Trading

Next earnings

Sector percentile context

All TPE/2903 indicators

Profile and market data

Valuation

Profitability

Growth

Financial statements

Financial strength

Liquidity

Dividends and buybacks

Performance and technicals

Ownership and float

Deeper analysis on TPE/2903

Frequently asked questions

TPE/2903 (TPE/2903)

Price

Financial snapshot

Fair-value bridge

Latest news · TPE/2903

Valuation

Profitability

Balance sheet

Trading

Next earnings

Sector percentile context

All TPE/2903 indicators

Profile and market data

Valuation

Profitability

Growth

Financial statements

Financial strength

Liquidity

Dividends and buybacks

Performance and technicals

Ownership and float

Deeper analysis on TPE/2903

Frequently asked questions