Bon Fame Co Ltd

Bon Fame Co Ltd maintains a relatively balanced capital structure, with total equity of TWD 24.43 billion and total liabilities of TWD 22.65 billion, resulting in a debt-to-equity ratio of 0.57. The company holds TWD 11.66 billion in cash and equivalents, but its long-term debt of TWD 13.92 billion exceeds this amount, leading to a net cash position that is negative after subtracting total debt. The current ratio of 1.51 indicates that the company has sufficient short-term assets to cover its short-term liabilities. Free cash flow of TWD 122.64 million and operating cash flow of TWD 167.09 million suggest the company generates positive cash from operations.

Profitability metrics show a return on equity (ROE) of 5.7% and a return on assets (ROA) of 2.96%. These figures are below the industry median for ROE and ROA in the personal products sector, indicating that the company is underperforming relative to its peers in terms of capital efficiency and asset utilization. Gross profit of TWD 186.31 million and operating income of TWD 84.43 million suggest the company maintains a moderate level of profitability, but its net income of TWD 139.24 million is relatively low compared to its revenue of TWD 728.86 million.

The company's revenue is concentrated in a single business segment, as disclosed in its financial statements. There is no geographic breakdown provided in the available data, but the company is headquartered in Taiwan, and its operations are likely centered in the Asia-Pacific region. This concentration in a single segment and region may expose the company to higher operational and market risks.

The company's growth trajectory is not clearly defined in the available data, as no forward-looking revenue guidance is provided. However, the company's capital expenditure of TWD -26.95 million suggests a reduction in investment in new assets, which may indicate a conservative approach to growth. The company's free cash flow and operating cash flow remain positive, which could support future growth initiatives or shareholder returns.

The company faces moderate liquidity risk due to its negative net cash position after accounting for long-term debt. While the company has a low dilution risk, as there is no indication of recent or planned share issuance, the risk assessment highlights the need for careful monitoring of its debt levels and cash flow generation. The company has not disclosed any recent material events, such as mergers, acquisitions, or regulatory actions, that would significantly impact its operations.

The company's risk profile is shaped by its exposure to the personal products industry, which is sensitive to consumer spending patterns and economic cycles. The company's reliance on a single business segment and geographic concentration in the Asia-Pacific region may increase its vulnerability to regional economic downturns or supply chain disruptions.

Revenue grew 23.5% year-over-year to TWD 3.48 billion, showing strong top-line expansion momentum in the latest period.

Cash conversion ratio of 1.2 exceeds the 0.97 cohort median, indicating efficient translation of earnings into cash flow.

Debt-to-equity ratio of 0.57 places the company in the bottom quartile, indicating significantly higher leverage than peers.

Net income CAGR of -23.5% over four years highlights a persistent long-term trend of declining profitability.

Medium liquidity and credit risk flags suggest potential challenges in meeting short-term obligations or servicing debt.

Revenue TWD 969.1M; Operating income TWD 126.5M.

• ▍Revenue TWD 969.1M
• ▍Operating income TWD 126.5M
• ▍Net margin 17.5%

Revenue TWD 929.8M; Operating income TWD 132.0M.

• ▍Revenue TWD 929.8M
• ▍Operating income TWD 132.0M
• ▍Net margin 8.0%

Revenue TWD 981.5M; Operating income TWD 149.7M.

• ▍Revenue TWD 981.5M
• ▍Operating income TWD 149.7M
• ▍Net margin 14.9%

Revenue TWD 728.9M; Operating income TWD 84.4M.

• ▍Revenue TWD 728.9M
• ▍Operating income TWD 84.4M
• ▍Net margin 19.1%

Revenue TWD 3.61B, +4,1% YoY; Operating income −10,8% YoY.

• ▍Revenue TWD 3.61B, +4,1% YoY
• ▍Operating income −10,8% YoY
• ▍Net income +8,1% YoY
• ▍Free cash flow −50,6% YoY
• ▍Net margin 14.7%

Revenue TWD 3.47B, +10,3% YoY; Operating income +33,4% YoY.

• ▍Revenue TWD 3.47B, +10,3% YoY
• ▍Operating income +33,4% YoY
• ▍Net income −2,7% YoY
• ▍Free cash flow −46,4% YoY
• ▍Net margin 14.1%

Revenue TWD 3.14B, +11,3% YoY; Operating income +42,3% YoY.

• ▍Revenue TWD 3.14B, +11,3% YoY
• ▍Operating income +42,3% YoY
• ▍Net income +141,4% YoY
• ▍Free cash flow +237,3% YoY
• ▍Net margin 16.0%