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TSRC Corporation (2103.TW)

TWD25.60 +0.60 (+2.40%)
TW TAI Basic Materials Chemicals - Specialty
Address No.2, Singgong Road 815
Kaohsiung, TW
CEO Weiqiang Chai
IPO 2000-01-04
ISIN TW0002103009

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Description

TSRC Corporation, established in Kaohsiung, Taiwan, in 1973, operates internationally as a manufacturer, importer, and distributor of various synthetic rubber products and related materials. Its global footprint spans Taiwan, other parts of Asia, North America, and Europe. The company's product portfolio encompasses several types of rubber, each tailored for specific applications: ESBR rubber is extensively used in automotive tires, shoe outsoles, conveyor systems, military tracks (for caterpillars and tow trucks), sporting goods, and toys. SSBR rubber is formulated for modern tires, including energy-saving, high-performance, and all-season variants. BR rubber serves to modify plastics, particularly High Impact Polystyrene (HIPS), and is a component in high-speed radial tires. NBR rubber is critical for industrial applications such as oil hoses and seals, rollers, industrial gaskets, belts, shoe soles, rubber-plastic foam sheets, and conveyor belts. Furthermore, TSRC offers various copolymers, including styrene-butadiene-styrene, styrene-isoprene-styrene, and styrene-ethylene/butylene-styrene. Its T-BLEND applied materials are utilized in advanced footwear components, foam production, soft-touch and gel products, and overmolding processes. The company was formerly known as Taiwan Synthetic Rubber Corporation until it rebranded as TSRC Corporation in August 1999.

Market Cap & Enterprise Value
Merger & Acquisition History

No mergers or acquisitions recorded for this company.

Technical Outlook
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Signal Summary Loading…
Indicator 1D1W2W3W1M
Each column is computed on that timeframe's candles (1D = daily, 1W ≈ weekly, 1M ≈ monthly), not on the same last day. ▲ bullish · ▼ bearish · — neutral. The Net row counts signals per column; hover any cell (or the indicator name) to see the exact rule behind it.
Day Score & sub-scores
Statistical fingerprint & regime detail
Conditional historical analysis
Customize analysis (advanced)
Indicative levels generated algorithmically. Not financial advice.
Risk Profile
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Price Chart
Averages
Trend
Price
Levels
Draw
TWD25.60 +0.60 (+2.40%)
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Volume Profile
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Liquidity & share structure
Average Volume
6M
Beta
0.44
Float Shares
549.45M
Free Float %
66.5%
Price Performance
1D5D1M3M6M YTD1Y3Y5Y10YMax
+0.95% +6.77% +8.95% +19.33% +44.90% +37.42% +8.67% -19.01% -35.36% -22.55% +192.18%
Rolling Volatility
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Drawdown
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Relative Strength
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Monthly Returns Heatmap
From To
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Annual Monthly Returns
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Daily Returns Distribution
vs.
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Revenue flow

Revenue by geography

Revenue by segment

From To

Revenue composition

From To

By product

By geography

Financial Statements

Income Statement

Balance Sheet

Cash Flow Statement

Key Metrics

Financial Ratios

Employees

Financial Growth (CAGR)

Market Data

Price Targets & DCF
Current price
25.60
DCF (Levered) 8.25 -67.8%

DCF figures are point estimates: small changes in growth or discount-rate assumptions move them materially. Read them as a reference, not a precise target.

Ratings Trend (MoM) 0% Bullish
Rating 2025-02 Change
Strong Buy 0 0
Buy 0 0
Hold 1 0
Sell 0 0
Strong Sell 0 0
Quality scores
Altman Z-Score
1.79
Distress
Piotroski F-Score
6 / 9
Average
MOAT Score
2 / 10
No MOAT
Composite Rating
C
Overall Score
2 / 5
Medium
DCF Score
4 / 5
High
ROE Score
1 / 5
Low
ROA Score
1 / 5
Low
D/E Score
1 / 5
Low
P/E Score
2 / 5
Medium
P/Book Score
1 / 5
Low
Operational MOAT
✗ Below peers
  • Revenue growth Chemicals - Specialty: +4.7%
    -2.0% Q1'26: -0.4% (vs Q1'25)
  • EPS growth Chemicals - Specialty: +13.2%
    -48.1% Q1'26: +32.5% (vs Q1'25)
  • FCF margin FCF growth · Chemicals - Specialty: +44.1%
    +0.1% Q1'26: +0.3% (vs Q1'25)
  • EBIT margin Chemicals - Specialty: +8.8%
    +2.3% Q1'26: +6.3% (vs Q1'25)
  • ROIC Chemicals - Specialty: +5.6%
    +1.8% Q1'26: +5.6% (vs Q1'25)
  • Share dilution Chemicals - Specialty: +0.1%
    +36.0% Q1'26: +14.5% (vs Q1'25)
  • Debt / EBITDA Net debt/EBITDA · Chemicals - Specialty: 0.18×
    6.66× Q1'26: 5.12× (vs Q1'25)
Valuation Multiples From To
Price Forecast (3Y) From To
Model
Adjust
P/E
Theoretical Return — If Invested Today

* These projections are based on analyst consensus estimates and user-defined valuation multiples. This table is for informational purposes only and does not constitute a recommendation to buy or sell any security. Past performance is not indicative of future results.

DCF Interactive Model (UFCF)
Projection years:
Market assumptions
WACC components (optional)
Ke (Cost of Equity) = Rf + β (0.46) × ERP
WACC = 64% × Ke + 36% × Kd (4.0%) × (1−t)

Modifying these values recalculates WACC automatically.

Business assumptions
Current price: 25.60
Enterprise Value: Equity Value: Terminal Value: TV as % of EV:

Base values reflect the latest available data for this company and market conditions.

Consensus Estimates
Metric Dec 2015
actual
Dec 2016
actual
Dec 2017
actual
Dec 2018
actual
Dec 2019
actual
Dec 2020
actual
Dec 2021
actual
Dec 2022
actual
Dec 2023
actual
Dec 2024
actual
Dec 2025
actual
Dec 2026
1 Rev. Ana.
1 EPS Ana.
Revenue
25.98B
est: 25.99B (0.0%)
26.96B
est: 27.06B (-0.4%)
31.77B
est: 33.11B (-4.1%)
29.75B
est: 30.29B (-1.8%)
28.91B
est: 30.58B (-5.5%)
24.02B
est: 25.49B (-5.7%)
32.53B
est: 32.81B (-0.9%)
33.84B
est: 34.55B (-2.0%)
31.43B
est: 32.06B (-2.0%)
37.21B
est: 37.04B (+0.4%)
36.47B
est: 32.99B (+10.6%)
32.99B
32.99B – 32.99B
+0.0% YoY
EBITDA
1.90B
est: 2.78B (-31.6%)
2.92B
est: 2.89B (+1.0%)
2.49B
est: 3.54B (-29.6%)
2.83B
est: 3.23B (-12.6%)
2.40B
est: 3.27B (-26.6%)
1.48B
est: 2.72B (-45.5%)
6.14B
est: 3.50B (+75.2%)
4.23B
est: 3.69B (+14.6%)
2.67B
est: 3.38B (-21.0%)
2.74B
est: 3.90B (-29.8%)
2.00B
est: 3.48B (-42.4%)
3.48B
3.48B – 3.48B
+0.0% YoY
EBIT
802.10M
est: 1.75B (-54.2%)
1.85B
est: 1.82B (+1.3%)
1.49B
est: 2.23B (-33.5%)
1.80B
est: 2.04B (-11.9%)
1.26B
est: 2.06B (-39.0%)
342.73M
est: 1.72B (-80.1%)
4.94B
est: 2.21B (+123.3%)
2.93B
est: 2.33B (+25.9%)
1.35B
est: 2.22B (-39.0%)
1.54B
est: 2.56B (-39.9%)
824.47M
est: 2.28B (-63.8%)
2.28B
2.28B – 2.28B
+0.0% YoY
Net Income
529.12M
est: 663.11M (-20.2%)
988.35M
est: 1.19B (-17.0%)
874.11M
est: 868.54M (+0.6%)
1.19B
est: 1.06B (+12.0%)
740.32M
est: 905.85M (-18.3%)
215.26M
est: 80.15M (+168.6%)
3.93B
est: 4.11B (-4.3%)
1.78B
est: 2.15B (-17.2%)
680.02M
est: 935.56M (-27.3%)
862.27M
est: 1.40B (-38.5%)
448.46M
est: 1.38B (-67.4%)
947.00M
947.00M – 947.00M
-31.1% YoY
SGA
1.81B
est: 1.99B (-9.1%)
1.90B
est: 2.07B (-8.4%)
1.97B
est: 2.54B (-22.4%)
2.04B
est: 2.32B (-12.1%)
2.07B
est: 2.35B (-11.7%)
1.95B
est: 1.95B (-0.2%)
2.77B
est: 2.52B (+10.1%)
2.72B
est: 2.65B (+2.7%)
2.19B
est: 2.35B (-6.6%)
2.49B
est: 2.72B (-8.5%)
2.35B
est: 2.42B (-3.0%)
2.42B
2.42B – 2.42B
+0.0% YoY
EPS
0.64
est: 0.80 (-20.0%)
1.20
est: 1.44 (-16.5%)
1.06
est: 1.05 (+1.2%)
1.44
est: 1.28 (+12.2%)
0.90
est: 1.09 (-17.6%)
0.26
est: 0.10 (+169.0%)
4.76
est: 4.95 (-3.9%)
2.16
est: 2.60 (-16.8%)
0.82
est: 0.83 (-1.2%)
1.04
est: 1.24 (-16.4%)
0.54
est: 1.22 (-55.7%)
0.84
0.84 – 0.84
-31.1% YoY
Historical Ratings (3M)
Date Rating Overall DCF ROE ROA D/E P/E P/B
2026-05-08 C 2/5 4/5 1/5 1/5 1/5 2/5 1/5
2026-05-07 B+ 3/5 4/5 3/5 4/5 1/5 2/5 4/5
2026-05-06 B+ 3/5 4/5 3/5 4/5 1/5 2/5 4/5
2026-05-05 B+ 3/5 4/5 3/5 4/5 1/5 2/5 4/5
2026-05-04 B+ 3/5 4/5 3/5 4/5 1/5 2/5 4/5
2026-04-30 B+ 3/5 4/5 3/5 4/5 1/5 2/5 4/5
2026-04-29 B+ 3/5 4/5 3/5 5/5 1/5 2/5 4/5
2026-04-28 B+ 3/5 4/5 3/5 5/5 1/5 2/5 4/5
2026-04-27 B+ 3/5 4/5 3/5 5/5 1/5 1/5 4/5
2026-04-24 B+ 3/5 4/5 3/5 5/5 1/5 1/5 4/5
2026-04-23 B+ 3/5 4/5 3/5 5/5 1/5 1/5 4/5
2026-04-22 B+ 3/5 4/5 3/5 5/5 1/5 1/5 4/5
2026-04-21 B+ 3/5 4/5 3/5 5/5 1/5 1/5 4/5
2026-04-20 B+ 3/5 4/5 3/5 5/5 1/5 1/5 4/5
2026-04-17 B+ 3/5 4/5 3/5 5/5 1/5 1/5 4/5
2026-04-16 B+ 3/5 4/5 3/5 5/5 1/5 1/5 4/5

Owner Earnings

Owner's Earnings (history) From To
Owner alignment
Owner's Earnings TTM
314.80M
OE per share TTM
0.38
Owner's Yield
1.64%
Maintenance CapEx ratio
307.38%
Maint CapEx / Avg PPE
39.1%

Ownership Overview

Ownership breakdown

Ownership breakdown not available.

At a glance
Institutional holders
Total invested
Insider transactions (90d)
0
Beneficial owners (>5%)
0
Beneficial owners (>5%)

No beneficial ownership filings recorded.

Institutional Activity (13F)

Institutional ownership trend

Institutional history not available.

Top institutional holders

Top holders not available.

ETF Ownership

Top ETFs holding this stock Held by 31 ETFs in our universe

Insider Activity

Insider Activity — Latest Quarter

No insider activity available.

Insider buys vs sells (history)

Insider history not available.

Recent insider transactions

No recent insider transactions.

Executive team

Top executives
EBIT / Employee
562.4K
Shares Outstanding
825.71M

Executive compensation

Executive compensation (annual)

Executive compensation not available.

CEO compensation breakdown

No CEO compensation history available.

Proxy statements

Proxy statements (DEF 14A)

No proxy statements available for this company yet.

Recent SEC filings

Recent SEC filings

No SEC filings available for this company yet.

Executive team

NameTitleCompensationGender
Chi-Wei Hsu Vice President of Operations Division & Global Head of Operations male
Edward Wang Vice President of Finance & Advanced Materials Division male
Iting Tsai Senior Assistant Vice President of Legal Department male
Maggie Huang Assistance Vice President of Human Resources & Management Department female
Weiqiang Chai Chief Executive Officer & Manager male
Xing Rong Lin Accounting Supervisor
ESG Score History

No data available for this company.

Senate Trading Activity

No Senate trading activity found for this company.

House Trading Activity

No House trading activity found for this company.

Market share among peers
Peer comparison — filtered group (TTM)
Your opinion

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Dividend yield history

Dividend history

Earnings history

Earnings reports

Stock splits