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H

Hwa Fong Rubber Ind Co 2109.TW · TWD

Consumer Discretionary · Taiwan Stock Exchange · 🇹🇼 Taiwan

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13.90

-0.36%

Close of 9 Nov 2026, in TWD

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At a glance

Figures in TWD, from our data supplier.

FY2025

Revenue

TWD 4.46bn

FY2016FY2025

Net income

TWD 324.9m

FY2016FY2025

Free cash flow

TWD 552.0m

FY2016FY2025

Shareholders' equity

TWD 3.50bn

FY2016FY2025

Income statement

Fiscal years

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
RevenueTWD 4.46bnTWD 4.94bnTWD 4.67bnTWD 5.41bnTWD 5.54bnTWD 4.88bnTWD 5.26bnTWD 5.26bnTWD 5.74bnTWD 6.03bn
Gross profitTWD 974.9mTWD 1.16bnTWD 1.03bnTWD 1.08bnTWD 1.25bnTWD 1.16bnTWD 975.6mTWD 929.3mTWD 1.08bnTWD 1.60bn
Research and developmentTWD 19.9mTWD 21.8mTWD 23.8mTWD 31.7mTWD 38.8mTWD 34.9mTWD 38.0mTWD 41.2mTWD 45.2mTWD 42.8m
Operating incomeTWD 485.8mTWD 684.4mTWD 483.8mTWD 672.2mTWD 793.3mTWD 784.1mTWD 412.4mTWD 72.8mTWD 89.4mTWD 477.3m
Net incomeTWD 324.9mTWD 450.0mTWD 422.3mTWD 444.3mTWD 559.1mTWD 561.9mTWD 148.3m−TWD 253.5m−TWD 976.3mTWD 42.9m
Diluted earnings per share0.871.601.501.572.012.000.54-0.90-3.680.16

Balance sheet

At each fiscal year end

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Total assetsTWD 8.55bnTWD 8.27bnTWD 7.94bnTWD 8.07bnTWD 8.32bnTWD 8.05bnTWD 7.41bnTWD 7.12bnTWD 7.32bnTWD 8.23bn
Cash and short-term investmentsTWD 3.39bnTWD 2.82bnTWD 2.69bnTWD 1.85bnTWD 1.54bnTWD 1.75bnTWD 1.34bnTWD 1.04bnTWD 1.54bnTWD 1.97bn
Total liabilitiesTWD 3.33bnTWD 3.01bnTWD 2.91bnTWD 3.29bnTWD 3.85bnTWD 3.52bnTWD 3.23bnTWD 3.16bnTWD 3.28bnTWD 3.14bn
DebtTWD 2.28bnTWD 1.74bnTWD 1.64bnTWD 2.19bnTWD 2.43bnTWD 2.18bnTWD 1.99bnTWD 2.00bnTWD 1.92bnTWD 1.71bn
Shareholders' equityTWD 3.50bnTWD 3.49bnTWD 3.45bnTWD 3.21bnTWD 3.04bnTWD 3.02bnTWD 2.74bnTWD 2.67bnTWD 2.83bnTWD 3.96bn
Shares outstanding375m281m281m282m278m282m274m282m266m276m

Cash flow

Fiscal years

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash from operationsTWD 755.5mTWD 502.3mTWD 530.9mTWD 888.3mTWD 401.1mTWD 898.1mTWD 414.1mTWD 311.3mTWD 42.4mTWD 599.6m
Capital spending−TWD 203.6m−TWD 184.7m−TWD 110.7m−TWD 96.8m−TWD 255.5m−TWD 459.7m−TWD 294.4m−TWD 667.0m−TWD 628.1m−TWD 315.5m
Free cash flowTWD 552.0mTWD 317.5mTWD 420.1mTWD 791.5mTWD 145.6mTWD 438.4mTWD 119.7m−TWD 355.7m−TWD 585.7mTWD 284.1m
Dividends paid−TWD 363.2m−TWD 595.4m−TWD 223.5m−TWD 279.4m−TWD 139.7m−TWD 45.1m−TWD 47.6m−TWD 57.6m−TWD 94.4m−TWD 127.2m

Latest quarters

By quarter end

Jun 2026Mar 2026Dec 2025Sept 2025Jun 2025Mar 2025Dec 2024Sept 2024
RevenueTWD 1.20bnTWD 1.09bnTWD 1.13bnTWD 966.0mTWD 1.14bnTWD 1.22bnTWD 1.31bnTWD 1.26bn
Gross profitTWD 254.2mTWD 247.5mTWD 260.2mTWD 185.5mTWD 251.6mTWD 277.6mTWD 301.9mTWD 300.1m
Operating incomeTWD 92.8mTWD 119.2mTWD 127.8mTWD 63.7mTWD 131.0mTWD 161.9mTWD 175.9mTWD 180.2m
Net incomeTWD 88.6mTWD 113.5mTWD 106.6mTWD 75.5mTWD 38.3mTWD 104.5mTWD 135.3mTWD 59.3m
Diluted earnings per share0.260.330.280.200.100.280.480.21
Cash from operationsTWD 24.0mTWD 274.0mTWD 243.0mTWD 303.0mTWD 51.0mTWD 156.0mTWD 162.0mTWD 66.0m
Capital spending−TWD 39.0m−TWD 1.19bn−TWD 137.0m−TWD 9.0m−TWD 20.0m−TWD 35.0m−TWD 122.0m−TWD 19.0m
Free cash flow−TWD 15.0m−TWD 916.0mTWD 106.0mTWD 294.0mTWD 31.0mTWD 121.0mTWD 40.0mTWD 47.0m
Total assetsTWD 8.75bnTWD 8.53bnTWD 8.55bnTWD 7.79bnTWD 7.63bnTWD 8.30bnTWD 8.27bnTWD 8.27bn
Cash and short-term investmentsTWD 2.30bnTWD 2.33bnTWD 3.39bnTWD 2.82bnTWD 2.46bnTWD 2.85bnTWD 2.82bnTWD 2.89bn
DebtTWD 1.64bnTWD 2.38bnTWD 1.35bnTWD 1.74bnTWD 1.71bnTWD 1.63bnTWD 1.74bnTWD 1.70bn
Shareholders' equityTWD 3.54bnTWD 3.48bnTWD 3.50bnTWD 3.29bnTWD 3.31bnTWD 3.40bnTWD 3.49bnTWD 3.41bn

Financial ratios

Data as of 19 Oct 2026

FY2025FY2024FY2023FY2022FY2021FY2020
Gross margin21.9%23.5%21.9%19.9%22.6%23.7%
Operating margin10.9%15.8%18.0%12.4%14.5%16.2%
Net margin7.3%9.1%9.0%8.2%10.1%11.5%
Return on equity9.3%12.9%12.2%13.8%18.4%18.6%
Return on assets3.8%5.4%5.3%5.5%6.7%7.0%
Free cash flow yield17.8%17.0%15.9%24.3%16.5%33.6%
Revenue growth-9.8%5.7%-13.7%-2.3%13.5%-7.3%
Earnings growth-27.8%6.5%-5.0%-20.5%-0.5%279.0%
Current ratio2.47x2.92x2.77x2.28x1.99x1.84x
Debt to equity0.65x0.50x0.48x0.68x0.80x0.72x
Equity ratio40.9%42.3%43.4%39.8%36.6%37.5%
Interest coverage13.13x21.62x16.18x11.90x17.75x16.85x
R&D as a share of sales0.4%0.4%0.5%0.6%0.7%0.7%
Buybacks as a share of market value-33.6%0.1%0.3%-1.6%1.3%-2.6%

Growth per year

Compound annual rate

3 years5 years10 years
Revenue-6.3%-1.8%-3.6%
Operating income-10.3%-9.1%-3.3%
Net income-9.9%-10.4%12.0%

Average margins

Over each period

1 year3 years5 years10 years
Gross margin22.7%21.8%22.2%21.9%
Operating margin12.5%11.9%13.1%9.6%
Net margin8.2%8.4%9.2%3.1%

Valuation history

At each fiscal year end

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Price to earnings17.311.39.89.28.36.620.4-14.4-3.469.9
Price to sales1.31.00.90.80.80.80.60.70.60.5

Dividends and splits

Per share, in the currency the company pays

Paid for 5 years. Last went ex-dividend on 26 Mar 2026.

FY2026FY2025FY2024FY2023FY2022FY2021FY2017FY2016
Paid in the year0.501.301.500.801.000.500.2380.238
  • 1000-to-840.529 reverse split · 29 Mar 2021
  • 1.02-for-1 split · 29 Aug 2016
  • 1000-to-781.945 reverse split · 13 Dec 2013
  • 1.01-for-1 split · 20 Aug 2008
  • 1.015-for-1 split · 18 Aug 2005
  • 1.068-for-1 split · 19 Aug 2004

Sources and methodology

Data on this tab
Our data supplier
Chart on the Overview
TradingView

Nothing here is investment advice. Prices can be delayed or wrong, so check with the exchange before relying on them. Data for this page. How we cover markets.