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Merida Industry Co., Ltd. (9914.TW)

TWD76.60 +0.50 (+0.66%)
TW TAI Consumer Cyclical Leisure
Address No. 116, Meigang Road 515
Changhua, TW
CEO Ming-Gen Liu
Website merida-bikes.com
IPO 2000-01-04
ISIN TW0009914002

Explore sections of this company profile

Description

Merida Industry Co., Ltd. is a global manufacturer and retailer specializing in bicycles and their components, operating across Taiwan, mainland China, Hong Kong, and Europe. The company's diverse bicycle lineup encompasses traditional models, electric bicycles (e-bikes), fitness bikes, road bikes, and versatile trekking and city bikes, alongside specialized designs tailored for youth, children, and women. Beyond complete bicycles, Merida offers a comprehensive selection of cycling accessories and apparel. This includes essential parts like speedometers, handlebars, stems, grips, bartapes, pedals, saddles, seatposts, clamps, and various protection and replacement components. Their accessory range also features bags, backpacks, mounting brackets, lighting systems, pumps, water bottles and cages, maintenance tools, and security locks. Additionally, Merida supplies cycling-specific apparel such as jerseys, shorts, jackets, vests, gloves, socks, shoe covers, helmets, and sunglasses. Founded in 1972, Merida Industry Co., Ltd. is headquartered in Changhua, Taiwan.

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
TWD76.60 +0.50 (+0.66%)
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Volume Profile
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Liquidity & share structure
Average Volume
2M
Beta
0.52
Float Shares
216.27M
Free Float %
72.3%
Price Performance
1D5D1M3M6M YTD1Y3Y5Y10YMax
-2.28% +22.32% +12.48% -12.18% -26.74% -17.17% -42.19% -60.63% -77.32% -45.85% +659.42%
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
76.60
DCF (Unlevered) 202.24 +164.0%
DCF (Levered) 90.37 +18.0%

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) 40% Bullish
Rating 2026-05 Change
Strong Buy 3 0
Buy 1 0
Hold 5 0
Sell 0 0
Strong Sell 1 0
Quality scores
Altman Z-Score
2.23
Grey zone
Piotroski F-Score
5 / 9
Average
MOAT Score
2 / 10
No MOAT
Composite Rating
A-
Overall Score
4 / 5
High
DCF Score
4 / 5
High
ROE Score
3 / 5
Medium
ROA Score
4 / 5
High
D/E Score
2 / 5
Medium
P/E Score
3 / 5
Medium
P/Book Score
4 / 5
High
Operational MOAT
✗ Below peers
  • ✗
    Revenue growth Leisure: +7.6%
    -9.7% Q1'26: -30.5% (vs Q1'25)
  • ✓
    EPS growth Leisure: +13.2%
    +271.4% ★ Q1'26: -22.9% (vs Q1'25)
  • ✓
    FCF margin FCF growth · Leisure: +30.4%
    +8.2% Q1'26: +7.0% (vs Q1'25)
  • ✗
    EBIT margin Leisure: +11.0%
    +6.2% Q1'26: +5.3% (vs Q1'25)
  • ✗
    ROIC Leisure: +6.9%
    +5.6% Q1'26: +3.8% (vs Q1'25)
  • ✗
    Share dilution Leisure: +0.0%
    +1.5% Q1'26: +0.4% (vs Q1'25)
  • ✗
    Debt / EBITDA Net debt/EBITDA · Leisure: -0.39×
    3.68× Q1'26: 5.22× (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 (0.45) × ERP
WACC = 72% × Ke + 28% × Kd (4.1%) × (1−t)

Modifying these values recalculates WACC automatically.

Business assumptions
—
Intrinsic value (base): 199.15 Current price: 76.60
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
7 Rev. Ana.
4 EPS Ana. 		Dec 2027
7 Rev. Ana.
6 EPS Ana. 		Dec 2028
2 Rev. Ana.
2 EPS Ana.
Revenue
28.09B
est: 28.35B (-0.9%)
22.90B
est: 22.78B (+0.5%)
22.40B
est: 22.35B (+0.2%)
25.85B
est: 25.78B (+0.3%)
28.24B
est: 27.95B (+1.0%)
27.07B
est: 27.06B (+0.1%)
29.39B
est: 29.65B (-0.9%)
37.00B
est: 36.97B (+0.1%)
27.26B
est: 26.58B (+2.5%)
29.63B
est: 29.95B (-1.1%)
26.76B
est: 26.92B (-0.6%)
24.43B
23.30B – 25.67B
-9.2% YoY
26.15B
24.44B – 27.98B
+7.0% YoY
28.64B
28.64B – 28.64B
+9.5% YoY
EBITDA
3.06B
est: 3.97B (-22.9%)
1.79B
est: 3.19B (-44.0%)
1.28B
est: 3.13B (-59.1%)
1.60B
est: 3.61B (-55.7%)
3.51B
est: 3.92B (-10.4%)
5.55B
est: 3.79B (+46.2%)
6.54B
est: 4.15B (+57.5%)
4.91B
est: 5.18B (-5.3%)
4.00B
est: 3.02B (+32.3%)
-177.29M
est: 3.41B (-105.2%)
1.95B
est: 3.06B (-36.4%)
2.78B
2.65B – 2.92B
-9.2% YoY
2.97B
2.78B – 3.18B
+7.0% YoY
3.26B
3.26B – 3.26B
+9.5% YoY
EBIT
3.92B
est: 3.68B (+6.4%)
2.45B
est: 2.96B (-17.0%)
1.06B
est: 2.90B (-63.4%)
2.67B
est: 3.35B (-20.2%)
3.25B
est: 3.63B (-10.5%)
5.29B
est: 3.51B (+50.6%)
6.25B
est: 3.85B (+62.4%)
4.58B
est: 4.80B (-4.7%)
3.66B
est: 2.75B (+33.3%)
-492.84M
est: 3.10B (-115.9%)
1.66B
est: 2.78B (-40.2%)
2.52B
2.41B – 2.65B
-9.2% YoY
2.70B
2.53B – 2.89B
+7.0% YoY
2.96B
2.96B – 2.96B
+9.5% YoY
Net Income
3.04B
est: 3.20B (-4.9%)
1.92B
est: 1.93B (-0.7%)
797.36M
est: 1.30B (-38.6%)
1.71B
est: 1.74B (-1.7%)
2.50B
est: 2.50B (+0.1%)
3.99B
est: 3.90B (+2.5%)
4.65B
est: 4.38B (+6.2%)
3.39B
est: 3.68B (-8.0%)
1.69B
est: 1.53B (+10.9%)
-699.10M
est: 2.13B (-132.8%)
1.20B
est: 1.70B (-29.2%)
1.46B
1.42B – 1.49B
-13.7% YoY
2.00B
1.75B – 2.35B
+36.9% YoY
2.40B
2.05B – 2.76B
+19.8% YoY
SGA
1.97B
est: 2.16B (-8.7%)
1.95B
est: 1.73B (+12.3%)
1.73B
est: 1.70B (+1.9%)
1.87B
est: 1.96B (-4.8%)
2.03B
est: 2.13B (-4.8%)
2.18B
est: 2.06B (+6.0%)
2.31B
est: 2.26B (+2.4%)
2.26B
est: 2.81B (-19.7%)
2.24B
est: 2.05B (+9.1%)
2.32B
est: 2.31B (+0.2%)
2.30B
est: 2.08B (+10.6%)
1.88B
1.80B – 1.98B
-9.2% YoY
2.02B
1.88B – 2.16B
+7.0% YoY
2.21B
2.21B – 2.21B
+9.5% YoY
EPS
10.17
est: 10.70 (-4.9%)
6.42
est: 6.46 (-0.7%)
2.67
est: 4.35 (-38.6%)
5.72
est: 5.82 (-1.6%)
8.37
est: 8.36 (+0.1%)
13.36
est: 13.03 (+2.5%)
15.55
est: 14.64 (+6.2%)
11.34
est: 12.27 (-7.6%)
5.66
est: 5.10 (+10.9%)
-2.34
est: 7.00 (-133.4%)
4.01
est: 5.48 (-26.8%)
4.82
4.67 – 4.92
-12.0% YoY
6.83
5.76 – 7.75
+41.8% YoY
7.92
6.74 – 9.09
+15.8% YoY
Historical Ratings (3M)
Date Rating Overall DCF ROE ROA D/E P/E P/B
2026-05-12 A- 4/5 4/5 3/5 4/5 2/5 3/5 4/5
2026-05-11 A- 4/5 4/5 3/5 4/5 2/5 3/5 4/5
2026-05-08 A- 4/5 4/5 3/5 4/5 2/5 3/5 4/5
2026-05-07 A- 4/5 4/5 3/5 4/5 2/5 3/5 4/5
2026-05-06 A- 4/5 4/5 3/5 4/5 2/5 3/5 4/5
2026-05-05 A- 4/5 4/5 3/5 4/5 2/5 3/5 4/5
2026-05-04 A- 4/5 4/5 3/5 4/5 2/5 3/5 4/5
2026-04-30 A- 4/5 4/5 3/5 4/5 2/5 3/5 4/5
2026-04-29 A- 4/5 4/5 3/5 4/5 2/5 3/5 4/5
2026-04-28 A- 4/5 4/5 3/5 4/5 2/5 3/5 4/5
2026-04-27 A- 4/5 4/5 3/5 4/5 2/5 3/5 4/5
2026-04-24 A- 4/5 4/5 3/5 4/5 2/5 3/5 4/5
2026-04-23 B+ 3/5 4/5 3/5 4/5 1/5 3/5 4/5
2026-04-22 B+ 3/5 4/5 3/5 4/5 1/5 3/5 4/5
2026-04-21 B+ 3/5 4/5 3/5 4/5 1/5 3/5 4/5
2026-04-20 B+ 3/5 4/5 3/5 4/5 1/5 3/5 4/5
2026-04-17 A- 4/5 4/5 3/5 5/5 1/5 3/5 4/5
2026-04-16 A- 4/5 4/5 3/5 5/5 1/5 3/5 4/5

Owner Earnings

Owner's Earnings (history) From To
Owner alignment
Owner's Earnings TTM
1.89B
OE per share TTM
6.30
Owner's Yield
10.67%
Maintenance CapEx ratio
—
Maint CapEx / Avg PPE
9.4%

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 56 ETFs in our universe
# ETF Weight Est. AUM exposure TER
1 iShares MSCI AC Far East ex-Japan Small Cap UCITS ETF ISFE.L 0.05% 33.9K 0.74%
2 iShares MSCI Emerging Markets Small-Cap ETF EEMS 0.04% 139.0K 0.72%
3 State Street SPDR S&P Emerging Markets Small Cap ETF EWX 0.03% 193.7K 0.65%
4 iShares MSCI EM Small Cap UCITS ETF IEMS.L 0.03% 90.4K 0.74%
5 State Street SPDR MSCI Emerging Markets Small Cap UCITS ETF EMSD.L 0.02% 149.1K 0.55%
6 Avantis Emerging Markets Small Cap Equity ETF AVEE 0.02% 22.8K 0.42%
7 Vanguard FTSE All-World ex-US Small-Cap ETF VSS 0.01% 1.78M 0.06%
8 State Street SPDR Portfolio MSCI Global Stock Market ETF SPGM 0.01% 140.3K 0.09%
9 Dimensional - Emerging Markets Core Equity 2 ETF DFEM 0.01% 652.2K 0.39%
10 Avantis Responsible Emerging Markets Equity ETF AVSE 0.01% 11.4K 0.33%

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
2.37M
Shares Outstanding
298.98M

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
Wen-Xiang Zheng Senior Vice President of Marketing Affairs Department & Director 10M male
Qi-Bin Yuan Vice President of Production Management Center & Director 4M male
Ru-Ding Lai Vice President of Manufacturing Affair Department & Director 4M male
Ming-Gen Liu Principal Accounting Officer & Financial Officer 3M male
Ching-Cheng Tseng Vice President of Domestic Sales & Director 36.0K male
Hui-Juan Zeng Head of Finance Management Division 15.0K female
Ming-Feng Wu Chief Internal Auditor — —
Shang-Yuan Zeng Manager — male
Xue-Liang Cai Senior Vice President of Administration Affairs Department — male
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

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