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Formosa Plastics Corp (1301) fair value: what the stock is really worth

As of Nov 2, 2026: fair value (intrinsic value) of Formosa Plastics Corp stock TWD 76.34, price TWD 73.10, upside +4.4%, quality 38 out of 100. Rating: fairly valued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

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Basic Materials TW · ISIN TW0001301000

FP Formosa Plastics Corp logo Thin data Oct 29, 2026

Formosa Plastics Corp

1301 · TW
Fairly valued, weak quality

The stock costs about what our calculation considers fair.

Low debt
Profit last quarter +63% vs. a year ago.
Fair value 76.34 TWD · Fairly valued (+4.4%)
Mixed Growth (revenue 5y −1.1 %/yr in TWD)
Thin margins · 6.1% net margin (TTM)
0.7% dividend yield · Token dividend
Quality 38/100
Negative free cash flow
Trails peers (3/14)
Narrow moat 28/100 · thin data
Thin data
⟳ Cyclical
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

104.06 TWD 31.45 TWD Fair Value 76.34 TWD May 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Oct 29, 2026.

How to read this chart

60‑month range 31.45 TWD – 104.06 TWD · fair‑value band 56.96 TWD – 113.94 TWD · the 73.10 TWD price screens below the 76.34 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Oct 29, 2026.

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Company profile

Formosa Plastics Corporation engages in the manufacture and sale of plastic raw materials, chemical fibers, and related petrochemical industrial products in Taiwan, China, and internationally. It operates through Plastic, Polyolefin, Polypropylene, Tairylan, Chemical, and Other segments.

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The company offers plastic raw materials, such as polyvinyl chloride, high-density polyethylene, linear low-density polyethylene, ethylene vinyl acetate copolymer, polyethylene wax, polypropylene, polyacetal, and composite granules; and carbon fiber products.

It also provides chemical products, including liquid alkali, solid alkali, liquid and vinyl chlorine, dichloroethane, acrylonitrile, acetonitrile, methyl methacrylate, methacrylic acid, methyl tertiary butyl ether, acrylate, superabsorbent resin, and n-butanol products; and antibacterial superabsorbent resin.

In addition, the company offers other materials comprising PEEK carbon fiber composites, processing aids, impact-resistant modifier, Haibo, chlorinated solvents purifying hydrogen, lithium-ion battery electrolyte, lime, calcium carbonate powder, and hydrochloric acid; and programmable automation consisting of process computer DCS system, warehouse logistics control system, RTPMS real-time production management system, safety control system, and LIMS laboratory information management systems.

Its products are applied in daily necessities, outdoor sports, mechanical engineering, building materials and coatings, 3C home appliances, civil engineering agriculture and animal husbandry, and other applications. The company was incorporated in 1954 and is based in Kaohsiung, Taiwan.

Stock analysis

Formosa Plastics Corp (1301) currently trades at 73.10 TWD, while our model-based Fair Value estimate is 76.34 TWD, so the stock looks roughly fairly valued today (gap 4.2%).

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Valuation

How firm this estimate is: it rests on 2 models at a data quality of 96/100, which puts the data coverage at low.

Scenario range: 56.96 TWD (bear) to 113.94 TWD (bull), the price of 73.10 TWD sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 38/100 (below-average quality), in the Basic Materials sector.

Mixed Growth: Spin-off in 2013: revenue and profit before it include the divested business. Growth is measured afresh from 2013.

Formosa Plastics Corp reported revenue of 175B TWD in FY2025 versus 274B TWD in FY2021, a compound −10.5%/yr. Reported net income was −10.0B TWD in FY2025.

Key figures

Market cap 463B TWD (≈ $14.2B) Large · P/E ratio 44.3 · P/S ratio 2.69 · EPS (TTM) 1.65 TWD · Dividend yield 0.7% · Net margin 6.1% · Return on equity 2.5% · Return on assets (EBIT) 4.4%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 28 out of 100 (low confidence).

What moves the price

The share trades about 18% below its 52-week high and 98% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Basic Materials peers we cover trades at −41% fair-value upside, at 4%, 1301 screens cheaper than that median.

Fair Value models

Bear 56.96 TWD Fair Value 76.34 TWD Bull 113.94 TWD
Price 73.10 TWD · Upside +4.4%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (0.9641 TWD per share) are deliberately not added. Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Best data coverage
NCAV (Graham) 28.48 TWD 38.17 TWD 56.97 TWD 54
All 1 models by family
Asset-Based
NCAV (Graham) 28.48 TWD 38.17 TWD 56.97 TWD 54

Open the full fair value analysis →

Quality Score breakdown

Overall quality 38/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 7
How much profit the company makes from its sales and capital
Quality Growth 18
Are margins and returns getting better?
Cashflow 9
Do the profits arrive as real cash?
Financial strength 59
Debt, balance sheet and risk of trouble
Investment 83
Does it invest with discipline instead of growing at any price?
Low Volatility 58
How calm the share price moves, does not count
Price momentum 92
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 85
Distance to the 52-week high, does not count
New shares 84
Buys back shares or issues new ones?

Open the full quality analysis →

Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 55/100
Spin-off in 2013: revenue and profit before it include the divested business. Growth is measured afresh from 2013.
Revenue growth 1 year
−12.3%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−11.3%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−1.1%
Start year 2020 (pandemic). Over 10 years: −0.9% a year
Revenue growth 12 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−1.7%
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
13.7% (2020) → −4.3% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Specialty Chemicals · 725 stocks

Beats the industry median on 3/14 measures
Overall it trails its industry peers.
Valuation
Quality Score 38 · Bottom 25%
Fair Value upside +4.4% · Above median
Profitability
Return on equity (12 months) 2.5% · Below median
Return on assets −1.8% · Bottom 25%
Net margin (12 months) 6.1% · Above median
Operating margin (12 months) 6.1% · Below median
Growth and dividend
Revenue growth (quarter YoY) 4.1% · Below median
Dividend yield (12 months) 0.7% · Below median
Balance sheet
Debt / equity 0.21× · Above median

Valuation Multiplesvs Specialty Chemicals median · lower = cheaper

P/E (12 months) 44.3× · Priciest 25%
P/B 1.28× · Cheaper than median
P/S (12 months) 2.69× · Pricier than median
EV/EBITDA 74.9× · Priciest 25%
PEG 12.01× · Priciest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)39 · sector 0
FUTURE (revenue growth)21 · sector 67
PAST (return on equity)10 · sector 27
HEALTH (low debt)89 · sector 95
DIVIDEND (yield)14 · sector 31

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Specialty Chemicals stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Wanhua Chemical Group 600309 ¥70.32 ¥68.03 −3% vs 1301
Linde plc LIN $514.24 $446.62 −13% vs 1301
PPG Industries, Inc PPG $119.52 $77.68 −35% vs 1301
Asian Paints Limited ASIANPAINT ₹2,344 ₹1,479 −37% vs 1301
DSM-Firmenich AG DSFIR CHF 99.05 CHF 58.08 −41% vs 1301
International Flavors & Fragrances Inc IFF $93.02 $44.90 −52% vs 1301
The Sherwin-Williams Company SHW $332.61 $146.37 −56% vs 1301
Givaudan SA GIVN CHF 4,000 CHF 1,554 −61% vs 1301
EMS-CHEMIE HOLDING AG EMSN CHF 856.50 CHF 284.63 −67% vs 1301
Ecolab Inc ECL $302.98 $96.56 −68% vs 1301

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Formosa Plastics Corp · Fair Value
76.34 TWD +4%Fair Value
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Cite: Fair Value Calculator (2026). "Formosa Plastics Corp Fair Value". https://www.fairvalue-calculator.com/stock/1301

Frequently asked questions

Is Formosa Plastics Corp (1301) overvalued or undervalued?
As of Oct 29, 2026, our model estimates a fair value of 76.34 TWD versus a price of 73.10 TWD, about +4% upside (fairly valued).
What is the fair value of 1301?
Our model-based fair value for Formosa Plastics Corp is 76.34 TWD (as of Oct 29, 2026), built from audited fundamentals. The current price: 73.10 TWD.
What is the quality score of 1301?
Formosa Plastics Corp has a Quality Score of 38/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Formosa Plastics Corp (1301)?
Our model-based price target is the fair value of 76.34 TWD (as of Oct 29, 2026) from 1 valuation models. Cautious scenario 56.96 TWD, optimistic scenario 113.94 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Formosa Plastics Corp stock forecast for 2026?
Our models put fair value at 76.34 TWD, about +4% upside versus a price of 73.10 TWD (fairly valued). Cautious scenario 56.96 TWD, optimistic scenario 113.94 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Formosa Plastics Corp (1301)?
Formosa Plastics Corp reported trailing-twelve-month revenue of about 172B TWD (latest available figure, as of Oct 29, 2026).
Does Formosa Plastics Corp pay a dividend?
Formosa Plastics Corp currently shows a dividend yield of 0.68% relative to its recent price (as of Oct 29, 2026).
What is the intrinsic value of Formosa Plastics Corp (1301)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Formosa Plastics Corp it is 76.34 TWD per share (as of Oct 29, 2026), against a price of 73.10 TWD. It is the blended result of 1 valuation models (cash flow, earnings, asset, dividend).
Is Formosa Plastics Corp stock overvalued or undervalued in 2026?
As of Oct 29, 2026, 1301 trades below its calculated fair value: price 73.10 TWD, fair value 76.34 TWD, a gap of about +4% (fairly valued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 1301?
No. The price is what the market pays today (73.10 TWD); the fair value is what the company's own numbers justify (76.34 TWD). For Formosa Plastics Corp the two are 3.24 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Formosa Plastics Corp worth?
The market values Formosa Plastics Corp at about 463B TWD (market capitalisation, as of Oct 29, 2026). Per share that is 73.10 TWD; our models calculate a fair value of 76.34 TWD per share.
What do the bullish and bearish scenarios say about 1301?
Our models span a range for Formosa Plastics Corp: cautious scenario 56.96 TWD, base 76.34 TWD, optimistic 113.94 TWD per share (as of Oct 29, 2026, price 73.10 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 1301?
Formosa Plastics Corp trades at a price-to-earnings ratio of 44.3 (as of Oct 29, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 76.34 TWD is built from several models across several years. Other multiples: PEG 12.0, P/B 1.3, P/S 2.7, EV/EBITDA 74.9.
What is the PEG ratio of 1301?
The PEG ratio of Formosa Plastics Corp is 12.01 (P/E divided by earnings growth, as of Oct 29, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Formosa Plastics Corp (1301)?
Balance-sheet figures for Formosa Plastics Corp (as of Oct 29, 2026): return on equity 2.5%, debt of 0.21 per unit of equity. They feed the Quality Score of 38/100, which measures business quality independently of the share price.
How far is 1301 from its 52-week high?
Formosa Plastics Corp trades at 73.10 TWD, about 18% below its 52-week high of 88.90 TWD and 98% above the low of 36.85 TWD (as of Nov 2, 2026). Distance from the high says nothing about value: that is what the fair value of 76.34 TWD is for.
Which stocks are comparable to Formosa Plastics Corp?
From the same area (Basic Materials) we also value Linde plc, Ecolab Inc, The Sherwin-Williams Company, Givaudan SA, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Formosa Plastics Corp stock attractive at the current price?
The data as of Oct 29, 2026: price 73.10 TWD, calculated fair value 76.34 TWD (+4%), Quality Score 38/100, from 1 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 1301 calculated?
We run Formosa Plastics Corp through 1 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of 76.34 TWD, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.9 % above its aggregate fair value. Formosa Plastics Corp currently trades 4 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Formosa Plastics Corp (1301)?
The closing price on Nov 2, 2026 was 73.10 TWD. Our model-based fair value is 76.34 TWD, about +4% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Formosa Plastics Corp right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. A fairly wide model range (56.96 TWD to 113.94 TWD) leaves room in how you read the outcome. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.

Key figures of Formosa Plastics Corp

How large is the market capitalisation of Formosa Plastics Corp (1301)?
The market capitalisation of Formosa Plastics Corp is 463B TWD (≈ $14.2B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Formosa Plastics Corp (1301)?
The price-to-sales ratio of Formosa Plastics Corp is 2.69 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Formosa Plastics Corp (1301)?
Earnings per share at Formosa Plastics Corp are 1.65 TWD (price ÷ EPS = P/E 44.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Formosa Plastics Corp (1301)?
The dividend yield of Formosa Plastics Corp is 0.7% (payout 30.3%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Formosa Plastics Corp (1301)?
The net margin of Formosa Plastics Corp is 6.1% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Formosa Plastics Corp (1301)?
The return on equity (ROE) of Formosa Plastics Corp is 2.5% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Formosa Plastics Corp (1301)?
On an EBIT basis the return on assets of Formosa Plastics Corp is 4.4% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Formosa Plastics Corp (1301)?
The operating margin of Formosa Plastics Corp is 6.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Formosa Plastics Corp (1301)?
Revenue at Formosa Plastics Corp is growing +4.1% versus a year earlier (3y avg −11.3%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Formosa Plastics Corp (1301)?
Earnings per share at Formosa Plastics Corp are growing +63.4% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Formosa Plastics Corp (1301) generate?
The free cash flow of Formosa Plastics Corp is −7.9B TWD (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Formosa Plastics Corp (1301) carry?
The net debt of Formosa Plastics Corp is 120B TWD (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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