Taiwan Wax Co Ltd
Taiwan Wax Co Ltd is engaged in the refining and marketing of oil and gas products, generating revenue primarily through the production and sale of petroleum-based goods.
Business. Taiwan Wax Co Ltd (1742.TWO) is an oil and gas refining and marketing company headquartered in Taiwan. The firm operates within the Energy - Fossil Fuels sector, focusing on product sales in the oil and gas industry. It is listed on the Taiwan OTC Exchange (TPEx). Specific details regarding operating segments and geographic revenue mix are not available.
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- Macro
- Rate decisionBank of England rate decision (press conf.)2026-08-06 · GB
- Rate decisionReserve Bank of Australia rate decision (press conf.)2026-08-12 · AU
- Rate decisionNorges Bank rate decision (press conf.)2026-08-20 · NO
- Rate decisionSveriges Riksbank rate decision (press conf.)2026-09-03 · SE
- Rate decisionBank of Canada rate decision (press conf.)2026-09-09 · CA
- Rate decisionEuropean Central Bank rate decision (press conf.)2026-09-10 · EU
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- ElectionSE Swedish Election2026-09-14 · SE
- ElectionUS U.S. Midterms2026-11-03 · US
- ElectionFR French Legislative2027-06-01 · FR
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Synthesis
Taiwan Wax Co Ltd (1742.TWO) is an oil and gas refining and marketing company headquartered in Taiwan. The firm operates within the Energy - Fossil Fuels sector, focusing on product sales in the oil and gas industry. It is listed on the Taiwan OTC Exchange (TPEx). Specific details regarding operating segments and geographic revenue mix are not available.
### Capital Structure and Liquidity Taiwan Wax Co Ltd exhibits a debt-to-equity ratio of 1.8, indicating a capital structure that is significantly leveraged. The company's liquidity position is assessed as medium, with a current ratio of 1.21, suggesting limited short-term liquidity cushion. Free cash flow of TWD 84,095,000 is positive, but operating cash flow is negative at TWD -98,972,000, highlighting operational cash flow challenges.
### Profitability and Returns The company's return on equity (ROE) is 7.77%, which is relatively strong given the industry's capital intensity, but its return on assets (ROA) of 2.73% is modest, indicating underutilization of asset base. Operating income is negative at TWD -21,368,000, a significant drag on profitability, while net income of TWD 110,022,000 is driven by non-operating gains or tax benefits.
### Segments and Geographic Exposure The company operates as a single business segment focused on oil and gas refining and marketing. Revenue concentration is not disclosed by geography, but the company is headquartered in Taiwan, suggesting regional exposure to East Asian markets.
### Growth Trajectory Historical revenue of TWD 58,610,000 is flat, with no disclosed growth rate. Outlook data is not available for the current or next fiscal year, but the negative operating cash flow and high leverage suggest limited capacity for organic growth.
### Risk Factors Key risks include liquidity constraints, with net cash negative after subtracting total debt. Dilution risk is assessed as low, with no near-term pressure from share issuance or convertible debt. The company's high leverage and negative operating cash flow increase credit risk, particularly in a volatile energy market.
### Recent Events No recent filings or transcripts are available in the source data to inform recent operational or strategic developments.
- High leverage (debt-to-equity of 1.8) and negative operating cash flow pose liquidity and credit risks.
- Strong net income of TWD 110,022,000 is not supported by operating performance, suggesting reliance on non-operating gains.
- ROE of 7.77% is strong, but ROA of 2.73% indicates underutilized assets.
- No disclosed geographic diversification increases regional exposure risk.
- No near-term dilution pressure, but liquidity constraints limit growth options.
Bull / Bear case
Generated · model-assistedNet margin of 1.88% ranks best-in-class among 140 Oil & Gas Refining and Marketing peers.
Free cash flow improved by 29.9% year-over-year, reaching negative 135.5 million TWD in FY0.
Debt-to-equity ratio of 1.8 is significantly higher than the cohort median of 0.36.
The company faces high credit risk and medium liquidity risk according to internal risk assessments.
In focus — financials by report
Revenue TWD 231.2M, −41,0% YoY; Operating income −322,7% YoY.
- ▍Revenue TWD 231.2M, −41,0% YoY
- ▍Operating income −322,7% YoY
- ▍Net income +116,0% YoY
- ▍Free cash flow +100,5% YoY
- ▍Net margin 35.8%
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- Net cash is negative after subtracting total debt.
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- Taiwan Wax Co Ltd Market data — financials · 2026-05-26