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Feng Hsin Steel CoTPE:2015 +1.23%77 Owner Earnings per Share (TTM) is 7.91 as of Mar. 2026, which is 50% below its 10-year median of 15.81. GuruFocus rates TPE:2015 with a GF Score™ of 77/100 and a GF Value™ of NT$56.70 (Modestly Overvalued). The stock has 5 warning signs investors should review. Among 274 Steel companies, Feng Hsin Steel Co ranks better than 64.23% on this metric.
"These represent (a) reported earnings plus (b) depreciation, depletion, amortization, and certain other non-cash charges...less (c) the average annual amount of capitalized expenditures for plant and equipment, etc. that the business requires to fully maintain its long-term competitive position and its unit volume (If the business requires additional working capital to maintain its competitive position and unit volume, the increment also should be included in (c))...Our owner-earnings equation does not yield the deceptively precise figures provided by GAAP, since (c) must be a guess - and one sometimes very difficult to make. Despite this problem, we consider the owner earnings figure, not the GAAP figure, to be the relevant item for valuation purposes - both for investors in buying stocks and for managers in buying entire businesses...All of this points up the absurdity of the 'cash flow' numbers that are often set forth in Wall Street reports. These numbers routinely include (a) plus (b) - but do not subtract (c)."
Feng Hsin Steel Co's Owner Earnings per Share (TTM) ended in Mar. 2026 was NT$7.91. It's Price-to-Owner-Earnings ratio for today is 8.32.
The historical rank and industry rank for Feng Hsin Steel Co's Owner Earnings per Share (TTM) or its related term are showing as below:
TPE:2015'
s Price-to-Owner-Earnings Range Over the Past 10 Years
Min: 7.3 Med: 15.81 Max: 83.53
Current: 8.03
Assumption: Companies usually do not report maintenance capital expenditures and growth capital expenditures separately. Here we use estimated numbers and average them over 5 years. The method to estimate maintenance capital expenditures can be found in above part 4.
Note: GuruFocus' Change In Working Capital is provided by Morningstar. It is calculated by adding the items under "Change in operating assets and liabilities" (may refer to a different name for different company) section in Cash Flow Statement from original financial report. And it includes non-current parts of assets and liabilities.
Feng Hsin Steel Co Owner Earnings per Share (TTM) Related Terms
Feng Hsin Steel Co Owner Earnings per Share (TTM) Historical Data
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The historical data trend for Feng Hsin Steel Co's Owner Earnings per Share (TTM) can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Feng Hsin Steel Co Owner Earnings per Share (TTM) Chart
TPE:2015 vs NUE, STLD, RS: Owner Earnings per Share (TTM) Comparison
For the Steel subindustry, Feng Hsin Steel Co's Price-to-Owner-Earnings, along with its competitors' market caps and Price-to-Owner-Earnings data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Feng Hsin Steel Co Price-to-Owner-Earnings vs Steel Industry
For the Steel industry and Basic Materials sector, Feng Hsin Steel Co's Price-to-Owner-Earnings distribution charts can be found below:
* The bar in red indicates where Feng Hsin Steel Co's Price-to-Owner-Earnings falls into.
"These represent (a) reported earnings plus (b) depreciation, depletion, amortization, and certain other non-cash charges...less (c) the average annual amount of capitalized expenditures for plant and equipment, etc. that the business requires to fully maintain its long-term competitive position and its unit volume. (If the business requires additional working capital to maintain its competitive position and unit volume, the increment also should be included in (c))...Our owner-earnings equation does not yield the deceptively precise figures provided by GAAP, since (c) must be a guess - and one sometimes very difficult to make. Despite this problem, we consider the owner earnings figure, not the GAAP figure, to be the relevant item for valuation purposes - both for investors in buying stocks and for managers in buying entire businesses...All of this points up the absurdity of the 'cash flow' numbers that are often set forth in Wall Street reports. These numbers routinely include (a) plus (b) - but do not subtract (c)."
1. Start with "Net Income" from income statement. Feng Hsin Steel Co's Net Income for the trailing twelve months (TTM) ended in Mar. 2026 was NT$2,309 Mil.
3. Other non-cash charges usually include "Stock Based Compensation" and "Change In Deferred Tax":
However, to be conservative, GuruFocus will not add Stock Based Compensation back to net income.
Feng Hsin Steel Co's Change In Deferred Tax for the trailing twelve months (TTM) ended in Mar. 2026 was NT$0 Mil.
4. Average maintenance capital expenditure over a business/industry cycle: 5-Year Average Maintenance Capital Expenditure = NT$1,064 Mil
It is usually best to take a long-term average of maintenance capital expenditure. Ideally this would be as long as 10 years and include at least one economic downturn. However, since many companies do not have as long as 10-year history, here GuruFocus uses the latest 5 years data to do the calculation. To smooth out unusual years but reflect recent developments, we take an average of the 5 year maintenance capital expenditure.
The following shows how to get maintenance capital expenditure.
First, calculate the revenue change regarding to the previous quarter. If the revenue decreased from the previous quarter, then the Maintenance Capital Expenditure = Capital Expenditure (positive).
Second, if the revenue increased from the previous quarter, then calculate the percentage of Net PPE as of corresponding Revenue.
Growth Capital Expenditure = Percentage of Property, Plant and Equipment as of corresponding Revenue * Revenue Increase
Third, calculate Capital Expenditure (positive) - Growth Capital Expenditure.
If [Capital Expenditure (positive) - Growth Capital Expenditure] was negative, then the Maintenance Capital Expenditure = Capital Expenditure (positive).
If [Capital Expenditure (positive) - Growth Capital Expenditure] was positive, then the Maintenance Capital Expenditure = Capital Expenditure (positive) - Growth Capital Expenditure.
Fourth, get the average of the 5 years maintenance capital expenditure.
Feng Hsin Steel Co's 5-Year Average Maintenance Capital Expenditure = NT$1,064 Mil
5. "Change In Working Capital" is from cashflow statement. Feng Hsin Steel Co's Change In Working Capital for the trailing twelve months (TTM) ended in Mar. 2026 was NT$2,192 Mil.
Note: GuruFocus' Change in Working Capital is provided by Morningstar. It is calculated by adding the items under "Change in operating assets and liabilities" (may refer to a different name for different company) section in Cash Flow Statement from original financial report. And sometimes it includes non-current parts of assets and liabilities.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
What does a Owner Earnings per Share (TTM) of 7.91 mean?
Feng Hsin Steel Co (TPE:2015) has a Owner Earnings per Share (TTM) of 7.91 as of Mar. 2026. Warren Buffett defined owner earnings as reported earnings plus depreciation less average maintenance capital expenditure. View historical data on Feng Hsin Steel Co. This is 50% below median its historical median of 15.81. Over the past decade, Feng Hsin Steel Co's Owner Earnings per Share (TTM) has ranged from 7.30 to 83.53. According to the industry distribution chart, Feng Hsin Steel Co ranks #98 out of 274 companies in the Steel industry, placing it in the top 35.8%.
Is Feng Hsin Steel Co's Owner Earnings per Share (TTM) too high?
Feng Hsin Steel Co's current Owner Earnings per Share (TTM) of 7.91 is 50% below median its 10-year median of 15.81. Over the past 10 years, this metric has ranged from a low of 7.30 to a high of 83.53. The Steel industry median Owner Earnings per Share (TTM) is 12.31. Feng Hsin Steel Co's value of 7.91 is 35.7% below this industry median. Based on the distribution chart, Feng Hsin Steel Co ranks #98 out of 274 companies in the Steel industry, which is above the industry midpoint. Overall, Feng Hsin Steel Co has a GF Score™ of 77/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Feng Hsin Steel Co's Owner Earnings per Share (TTM) compare to NUE and STLD?
According to the Steel industry distribution chart, Feng Hsin Steel Co ranks #98 out of 274 companies for Owner Earnings per Share (TTM). This puts Feng Hsin Steel Co in the upper half of its industry. The industry median Owner Earnings per Share (TTM) is 12.31. Feng Hsin Steel Co's value of 7.91 is 35.7% below this benchmark. Historically, Feng Hsin Steel Co's own Owner Earnings per Share (TTM) has ranged from 7.30 to 83.53 over the past decade. While the company's 10-year median is 15.81 vs. the industry median of 12.31, Feng Hsin Steel Co has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Owner Earnings per Share (TTM) for a Steel company?
The median Owner Earnings per Share (TTM) among Steel companies is 12.31, based on 274 companies in the industry. Companies in the top quartile (top 25%) have a Owner Earnings per Share (TTM) significantly above this median, while those in the bottom quartile fall well below. However, Owner Earnings per Share (TTM) should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Feng Hsin Steel Co's current Owner Earnings per Share (TTM) of 7.91 is 35.7% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Owner Earnings per Share (TTM) mean?
A high Owner Earnings per Share (TTM) can signal that a stock is expensive relative to its fundamentals. Warren Buffett defined owner earnings as reported earnings plus depreciation less average maintenance capital expenditure. View historical data on Feng Hsin Steel Co. For the Steel industry, the median Owner Earnings per Share (TTM) is 12.31 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Feng Hsin Steel Co's current Owner Earnings per Share (TTM) is 7.91, which is 50% below median its own 10-year median of 15.81. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Feng Hsin Steel Co stock overvalued right now?
Based on GuruFocus' analysis, Feng Hsin Steel Co (TPE:2015) is currently considered Modestly Overvalued. The stock's GF Value™ is NT$56.70, compared to a current price of NT$65.80 — trading 16% above its estimated fair value. The current Owner Earnings per Share (TTM) is 7.91, which is 50% below median its 10-year median of 15.81 and 35.7% below the Steel industry median of 12.31. Feng Hsin Steel Co's overall GF Score™ is 77/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Owner Earnings per Share (TTM) calculated?
Owner Earnings per Share (TTM) is calculated from a company's financial statements. For Feng Hsin Steel Co (TPE:2015), the current Owner Earnings per Share (TTM) is 7.91 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Feng Hsin Steel Co (TPE:2015) Overvalued in 2026?
Based on GuruFocus' analysis, Feng Hsin Steel Co stock appears to be overvalued.
The current stock price of NT$65.80 is trading 16% above its estimated GF Value™ of NT$56.70.
GuruFocus considers Feng Hsin Steel Co to be Modestly Overvalued.
Key valuation signals for TPE:2015:
Owner Earnings per Share (TTM): 7.91 (50% below median its 10-year median of 15.81)
GF Value™: NT$56.70 vs. price of NT$65.80 (16% above fair value)
Industry Position: 35.7% below the Steel median (#98 of 274)
No single metric tells the full story. See the TPE:2015 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Feng Hsin Steel Co Ltd manufacture and sell various types of steel products. The services provided by the Group mainly consist of transportation and insurance services for the various steel products sold. The company is engaged in the manufacturing, processing and trading of various angle iron, round iron, flat iron, flat bar, and others, along with the operation and investment of various incidental businesses. Its Steel Rolling Mill produces carbon steel and special steel. Geographically, the company generates maximum revenue from Taiwan.
77GF Score
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