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Taiwan FamilyMart

GTSM:5903
Snowflake Description

Proven track record with adequate balance sheet and pays a dividend.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
5903
GTSM
NT$48B
Market Cap
  1. Home
  2. TW
  3. Consumer Retailing
Company description

Taiwan FamilyMart Co., Ltd. operates various convenience stores in Taiwan, and internationally. The last earnings update was 14 days ago. More info.


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5903 Share Price and Events
7 Day Returns
3.1%
GTSM:5903
2.4%
TW Consumer Retailing
4.9%
TW Market
1 Year Returns
-1.4%
GTSM:5903
-1.9%
TW Consumer Retailing
-7.7%
TW Market
5903 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Taiwan FamilyMart (5903) 3.1% -0.5% -1.4% -1.4% 5.9% -14.2%
TW Consumer Retailing 2.4% -1.9% -5.8% -1.9% 9.6% 17.3%
TW Market 4.9% -7.9% -15.3% -7.7% 1.3% 4.7%
1 Year Return vs Industry and Market
  • 5903 matched the Consumer Retailing industry (-1.9%) over the past year.
  • 5903 outperformed the Market in Taiwan, Province of China which returned -7.7% over the past year.
Price Volatility
5903
Industry
5yr Volatility vs Market

Value

 Is Taiwan FamilyMart undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Taiwan FamilyMart to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Taiwan FamilyMart.

GTSM:5903 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 2 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 5.7%
Perpetual Growth Rate 10-Year TW Government Bond Rate 0.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for GTSM:5903
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year TW Govt Bond Rate 0.7%
Equity Risk Premium S&P Global 6.2%
Consumer Retailing Unlevered Beta Simply Wall St/ S&P Global 0.39
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.393 (1 + (1- 20%) (53.93%))
0.707
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.71% + (0.8 * 6.21%)
5.68%

Discounted Cash Flow Calculation for GTSM:5903 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Taiwan FamilyMart is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

GTSM:5903 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (TWD, Millions) Source Present Value
Discounted (@ 5.68%)
2020 9,496.30 Est @ 44.09% 8,986.07
2021 12,447.17 Est @ 31.07% 11,145.54
2022 15,181.15 Est @ 21.96% 12,863.26
2023 17,547.64 Est @ 15.59% 14,069.55
2024 19,499.78 Est @ 11.12% 14,794.72
2025 21,059.83 Est @ 8% 15,119.85
2026 22,284.10 Est @ 5.81% 15,139.20
2027 23,238.36 Est @ 4.28% 14,939.25
2028 23,984.45 Est @ 3.21% 14,590.45
2029 24,574.57 Est @ 2.46% 14,146.21
Present value of next 10 years cash flows NT$135,794.00
GTSM:5903 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= NT$24,574.57 × (1 + 0.71%) ÷ (5.68% – 0.71%)
NT$498,169.32
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= NT$498,169.32 ÷ (1 + 5.68%)10
NT$286,768.29
GTSM:5903 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= NT$135,794.00 + NT$286,768.29
NT$422,562.29
Equity Value per Share
(TWD)
= Total value / Shares Outstanding
= NT$422,562.29 / 223.22
NT$1893.03
GTSM:5903 Discount to Share Price
Calculation Result
Value per share (TWD) From above. NT$1,893.03
Current discount Discount to share price of NT$215.00
= -1 x (NT$215.00 - NT$1,893.03) / NT$1,893.03
88.6%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Taiwan FamilyMart is available for.
Intrinsic value
>50%
Share price is NT$215 vs Future cash flow value of NT$1893.03
Current Discount Checks
For Taiwan FamilyMart to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Taiwan FamilyMart's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Taiwan FamilyMart's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Taiwan FamilyMart's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Taiwan FamilyMart's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
GTSM:5903 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in TWD NT$8.20
GTSM:5903 Share Price ** GTSM (2020-04-09) in TWD NT$215
Taiwan, Province of China Consumer Retailing Industry PE Ratio Median Figure of 5 Publicly-Listed Consumer Retailing Companies 23.39x
Taiwan, Province of China Market PE Ratio Median Figure of 1,476 Publicly-Listed Companies 14.6x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Taiwan FamilyMart.

GTSM:5903 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= GTSM:5903 Share Price ÷ EPS (both in TWD)

= 215 ÷ 8.20

26.22x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Taiwan FamilyMart is overvalued based on earnings compared to the TW Consumer Retailing industry average.
  • Taiwan FamilyMart is overvalued based on earnings compared to the Taiwan, Province of China market.
Price based on expected Growth
Does Taiwan FamilyMart's expected growth come at a high price?
Raw Data
GTSM:5903 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 26.22x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts
Not available
Asia Consumer Retailing Industry PEG Ratio Median Figure of 73 Publicly-Listed Consumer Retailing Companies 2.17x
Taiwan, Province of China Market PEG Ratio Median Figure of 183 Publicly-Listed Companies 1.16x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Taiwan FamilyMart, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Taiwan FamilyMart's assets?
Raw Data
GTSM:5903 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in TWD NT$26.78
GTSM:5903 Share Price * GTSM (2020-04-09) in TWD NT$215
Taiwan, Province of China Consumer Retailing Industry PB Ratio Median Figure of 6 Publicly-Listed Consumer Retailing Companies 2.38x
Taiwan, Province of China Market PB Ratio Median Figure of 1,962 Publicly-Listed Companies 1.22x
GTSM:5903 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= GTSM:5903 Share Price ÷ Book Value per Share (both in TWD)

= 215 ÷ 26.78

8.03x

* Primary Listing of Taiwan FamilyMart.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Taiwan FamilyMart is overvalued based on assets compared to the TW Consumer Retailing industry average.
X
Value checks
We assess Taiwan FamilyMart's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Consumer Retailing industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Consumer Retailing industry average (and greater than 0)? (1 check)
  5. Taiwan FamilyMart has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Taiwan FamilyMart expected to perform in the next 1 to 3 years based on estimates from 2 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
6.6%
Expected annual growth in revenue.
Earnings growth vs Low Risk Savings
Is Taiwan FamilyMart expected to grow at an attractive rate?
  • Unable to compare Taiwan FamilyMart's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare Taiwan FamilyMart's earnings growth to the Taiwan, Province of China market average as no estimate data is available.
  • Taiwan FamilyMart's revenue growth is expected to exceed the Taiwan, Province of China market average.
Annual Growth Rates Comparison
Raw Data
GTSM:5903 Future Growth Rates Data Sources
Data Point Source Value (per year)
GTSM:5903 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts 6.6%
Asia Consumer Retailing Industry Earnings Growth Rate Market Cap Weighted Average 12.4%
Asia Consumer Retailing Industry Revenue Growth Rate Market Cap Weighted Average 7.7%
Taiwan, Province of China Market Earnings Growth Rate Market Cap Weighted Average 11%
Taiwan, Province of China Market Revenue Growth Rate Market Cap Weighted Average 6.6%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
GTSM:5903 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
All numbers in TWD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
GTSM:5903 Future Estimates Data
Date (Data in TWD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 94,053 1
2021-12-31 91,721 5,358 2
2020-12-31 84,551 5,299 2,062 2
2020-04-09
GTSM:5903 Past Financials Data
Date (Data in TWD Millions) Revenue Cash Flow Net Income *
2019-12-31 77,730 9,511 1,831
2019-09-30 76,038 11,091 1,705
2019-06-30 74,615 9,042 1,658
2019-03-31 73,564 6,569 1,616
2018-12-31 71,721 5,107 1,614
2018-09-30 69,513 6,209 1,616
2018-06-30 67,724 6,687 1,575
2018-03-31 65,923 5,105 1,515
2017-12-31 64,428 4,418 1,407
2017-09-30 63,481 3,949 1,282
2017-06-30 62,377 1,417 1,309
2017-03-31 61,310 2,793 1,337

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if Taiwan FamilyMart is high growth as no earnings estimate data is available.
  • Taiwan FamilyMart's revenue is expected to grow by 6.6% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
GTSM:5903 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below

All data from Taiwan FamilyMart Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

GTSM:5903 Future Estimates Data
Date (Data in TWD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31
2021-12-31
2020-12-31 9.32 9.39 9.24 2.00
2020-04-09
GTSM:5903 Past Financials Data
Date (Data in TWD Millions) EPS *
2019-12-31 8.20
2019-09-30 7.64
2019-06-30 7.43
2019-03-31 7.24
2018-12-31 7.23
2018-09-30 7.24
2018-06-30 7.05
2018-03-31 6.79
2017-12-31 6.30
2017-09-30 5.74
2017-06-30 5.86
2017-03-31 5.99

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Taiwan FamilyMart is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
X
Future performance checks
We assess Taiwan FamilyMart's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Asia market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Asia market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Taiwan FamilyMart has a total score of 2/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Taiwan FamilyMart performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Taiwan FamilyMart's growth in the last year to its industry (Consumer Retailing).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Taiwan FamilyMart's year on year earnings growth rate has been positive over the past 5 years.
  • Taiwan FamilyMart's 1-year earnings growth exceeds its 5-year average (13.4% vs 7.5%)
  • Taiwan FamilyMart's earnings growth has not exceeded the TW Consumer Retailing industry average in the past year (13.4% vs 24.9%).
Earnings and Revenue History
Taiwan FamilyMart's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Taiwan FamilyMart Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

GTSM:5903 Past Revenue, Cash Flow and Net Income Data
Date (Data in TWD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 77,729.70 1,830.51 26,163.28
2019-09-30 76,037.53 1,705.08 25,684.79
2019-06-30 74,615.24 1,657.93 25,333.62
2019-03-31 73,564.44 1,615.60 25,128.10
2018-12-31 71,720.97 1,614.38 24,781.67
2018-09-30 69,513.26 1,615.60 24,286.65
2018-06-30 67,723.87 1,574.79 23,943.54
2018-03-31 65,923.40 1,515.21 23,417.27
2017-12-31 64,427.87 1,407.33 22,977.84
2017-09-30 63,481.00 1,281.94 22,500.95
2017-06-30 62,376.65 1,309.05 21,934.09
2017-03-31 61,309.58 1,337.21 21,496.81
2016-12-31 60,566.97 1,377.16 21,054.61
2016-09-30 59,667.23 1,415.71 20,550.77
2016-06-30 59,110.44 1,353.96 20,225.11
2016-03-31 58,529.48 1,262.21 19,919.39
2015-12-31 57,791.27 1,276.96 19,583.88
2015-09-30 57,050.33 1,212.75 18,997.59
2015-06-30 56,819.20 1,209.09 18,940.74
2015-03-31 56,378.19 1,262.74 18,728.72
2014-12-31 56,067.64 1,294.86 18,590.15
2014-09-30 55,897.15 1,305.21 18,844.93
2014-06-30 55,133.92 1,265.11 18,424.69
2014-03-31 54,292.63 1,192.38 17,985.11
2013-12-31 53,754.29 1,095.11 17,745.38
2013-09-30 52,057.54 1,109.40 17,166.20
2013-06-30 51,051.19 965.78 16,745.83

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Taiwan FamilyMart has efficiently used shareholders’ funds last year (Return on Equity greater than 20%).
  • Taiwan FamilyMart used its assets more efficiently than the TW Consumer Retailing industry average last year based on Return on Assets.
  • Taiwan FamilyMart's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Taiwan FamilyMart's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Consumer Retailing industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Taiwan FamilyMart has a total score of 4/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Taiwan FamilyMart's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Taiwan FamilyMart's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Taiwan FamilyMart's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Taiwan FamilyMart's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Taiwan FamilyMart's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 7.6x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Taiwan FamilyMart Company Filings, last reported 3 months ago.

GTSM:5903 Past Debt and Equity Data
Date (Data in TWD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 6,296.18 2,351.15 9,816.49
2019-09-30 5,805.12 2,465.88 13,562.79
2019-06-30 5,198.15 1,830.69 9,795.75
2019-03-31 6,006.48 2,124.71 8,466.42
2018-12-31 5,773.48 2,494.85 10,167.44
2018-09-30 5,440.08 3,612.11 11,510.53
2018-06-30 4,867.41 3,534.19 10,397.55
2018-03-31 5,638.95 2,907.18 8,565.56
2017-12-31 5,463.43 2,393.62 7,986.65
2017-09-30 5,119.77 2,862.94 7,269.28
2017-06-30 4,598.75 2,511.45 5,635.30
2017-03-31 5,372.02 2,580.85 5,874.05
2016-12-31 5,270.00 2,199.56 6,450.56
2016-09-30 5,064.84 1,896.37 5,750.99
2016-06-30 4,533.03 1,800.60 7,309.97
2016-03-31 5,106.57 1,616.96 5,979.77
2015-12-31 4,912.39 1,590.82 5,615.58
2015-09-30 4,763.17 2,121.17 7,482.68
2015-06-30 4,277.21 2,179.24 8,668.59
2015-03-31 5,071.05 1,678.63 6,973.09
2014-12-31 4,939.50 1,928.28 5,630.71
2014-09-30 4,766.19 2,058.86 7,498.60
2014-06-30 4,298.55 584.57 6,620.94
2014-03-31 4,898.00 609.82 5,760.59
2013-12-31 4,596.82 235.72 4,761.30
2013-09-30 4,458.31 320.95 5,030.52
2013-06-30 4,022.88 220.34 5,634.34
  • Taiwan FamilyMart's level of debt (37.3%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (39% vs 37.3% today).
  • Debt is well covered by operating cash flow (404.5%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 15.8x coverage).
X
Financial health checks
We assess Taiwan FamilyMart's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Taiwan FamilyMart has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Taiwan FamilyMart's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
3.02%
Current annual income from Taiwan FamilyMart dividends. Estimated to be 2.36% next year.
If you bought NT$2,000 of Taiwan FamilyMart shares you are expected to receive NT$60 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Taiwan FamilyMart's pays a lower dividend yield than the bottom 25% of dividend payers in Taiwan, Province of China (3.07%).
  • Taiwan FamilyMart's dividend is below the markets top 25% of dividend payers in Taiwan, Province of China (6.58%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
GTSM:5903 Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
Asia Consumer Retailing Industry Average Dividend Yield Market Cap Weighted Average of 168 Stocks 1.9%
Taiwan, Province of China Market Average Dividend Yield Market Cap Weighted Average of 1335 Stocks 4.4%
Taiwan, Province of China Minimum Threshold Dividend Yield 10th Percentile 1.7%
Taiwan, Province of China Bottom 25% Dividend Yield 25th Percentile 3.1%
Taiwan, Province of China Top 25% Dividend Yield 75th Percentile 6.6%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

GTSM:5903 Future Dividends Estimate Data
Date (Data in NT$) Dividend per Share (annual) Avg. No. Analysts
2022-12-31 0.00 1.00
2021-12-31 7.30 1.00
2020-12-31 7.92 1.00
2020-04-09
GTSM:5903 Past Annualized Dividends Data
Date (Data in NT$) Dividend per share (annual) Avg. Yield (%)
2020-03-26 6.500 3.118
2019-03-28 5.800 2.644
2018-03-31 5.500 2.742
2017-03-30 5.200 2.729
2016-03-31 4.600 2.177
2015-03-27 5.000 2.315
2014-05-13 4.500 2.194
2014-03-27 4.500 2.218
2013-03-29 3.100 1.944
2012-04-30 3.600 2.554
2012-03-29 3.600 2.457
2011-10-28 3.400 2.540
2011-08-29 3.400 2.486
2011-04-29 3.400 2.368
2011-04-27 3.400 2.372
2010-04-29 2.600 3.033
2010-04-23 2.600 3.766
2010-01-15 2.600 4.163
2009-04-29 2.500 4.398
2009-04-28 2.500 4.873

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Taiwan FamilyMart's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.3x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be thoroughly covered by earnings (552.5x coverage).
X
Income/ dividend checks
We assess Taiwan FamilyMart's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.7%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Taiwan FamilyMart afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Taiwan FamilyMart has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Taiwan FamilyMart's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Jung-Ting Yeh
CEO Bio

Jung-Ting Yeh serves as Chairman of the Board and Chief Executive officer at Taiwan FamilyMart Co., Ltd. Jung-Ting Yeh served as an Executive Vice President and a Director of Taiwan FamilyMart Co. Ltd. since April 29, 2003. Jung Ting Yeh is a Graduate of Marketing and Distribution Management from National Kaohsiung First University of Science and Technology.

CEO Compensation
  • Insufficient data for Jung-Ting to compare compensation growth.
  • Insufficient data for Jung-Ting to establish whether their remuneration is reasonable compared to companies of similar size in Taiwan, Province of China.
Management Team

Jung-Ting Yeh

TITLE
Chairman & CEO

Tung-Tu Hsueh

TITLE
President

Chien-Hsing Lee

TITLE
Assistant Vice President of the Administration Division

Sheng-Fu Wu

TITLE
Executive Vice President
Board of Directors Tenure

Average tenure of the Taiwan FamilyMart board of directors in years:

4.8
Average Tenure
  • The tenure for the Taiwan FamilyMart board of directors is about average.
Board of Directors

Tung-Tu Hsueh

TITLE
President
TENURE
4.8 yrs

Jin Pan

TITLE
Director
TENURE
17 yrs

Jung-Ting Yeh

TITLE
Chairman & CEO

Ren-Tun Chang

TITLE
Director
TENURE
13.8 yrs

Chih-Teng Hsieh

TITLE
Director
TENURE
8.5 yrs

Fujimoto Yoji

TITLE
Director
TENURE
4.8 yrs

Ching-Chao Chan

TITLE
Director
TENURE
4 yrs

Chien Weng

TITLE
Independent Director
TENURE
4.8 yrs

Kiriyama Yoshifumi

TITLE
Director
TENURE
2 yrs

Kubo Isao

TITLE
Director
TENURE
2.1 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (NT$) Value (NT$)
X
Management checks
We assess Taiwan FamilyMart's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Taiwan FamilyMart has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

Taiwan FamilyMart Co., Ltd. operates various convenience stores in Taiwan, and internationally. As of December 31, 2018, the company operated 3,326 stores in Taiwan; and 2,571 stores in China. The company also engages in the wholesale and retail of books and magazines; provision of sale and services of computer software and related equipment; logistics activities; and retail of household merchandises. In addition, it provides trucking, staffing, and packaging services; system integrated services; and electronic information services, as well as manufactures food products. The company was founded in 1988 and is headquartered in Taipei City, Taiwan.

Details
Name: Taiwan FamilyMart Co., Ltd.
5903
Exchange: GTSM
Founded: 1988
NT$47,992,300,000
223,220,000
Website: http://www.family.com.tw
Address: Taiwan FamilyMart Co., Ltd.
No. 61, Section 2,
7th Floor,
Taipei City,
107,
Taiwan
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
GTSM 5903 Common Stock Taipei Exchange TW TWD 25. Feb 2002
Number of employees
Current staff
Staff numbers
0
Taiwan FamilyMart employees.
Industry
Food Retail
Consumer Retailing
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/09 14:58
End of day share price update: 2020/04/09 00:00
Last estimates confirmation: 2020/04/03
Last earnings filing: 2020/03/26
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.