Fact based stock research
TSRC (TSEC:2103)

TW0002103009

How to read the free ranks

For every stock, we judge its performance against its peers and rank it on a scale of 1 to 100. The higher the rank, the better the stock performs than its peers. And, we do this for six investment strategies:
Value - shows how good of a value the stock is. Green is "inexpensive"; red is "expensive".

Growth - shows a company's growth potential. Green is "high growth" expected; red is "tough times ahead".

Safety - relates to the amount of debt a company has. Green is low debt level; red is high debt level.

Combined Financial - this isn't an average of the first three ranks but rather a consolidated view across several financial indicators. Green = good; red = tread carefully.

(NEW) Sentiment - quantifies professional analyst ratings and holdings as well as market pulse. Green = positive sentiment; red = skepticism (Only available to Premium Subscribers).

(NEW) 360° View - the ultimate rating with all financial and non-financial indicators.

TSRC stock research in summary

tsrc.com.tw

ANALYSIS: With an Obermatt Combined Rank of 87 (better than 87% compared with investment alternatives), TSRC (Commodity Chemicals, Taiwan) shares have much better financial characteristics than comparable stocks. Shares of TSRC are a good value (attractively priced) with a consolidated Value Rank of 53 (better than 53% of alternatives), show above-average growth (Growth Rank of 97) but are riskily financed (Safety Rank of 49), which means above-average debt burdens. ...read more

RECOMMENDATION: A Combined Rank of 87, is a strong buy recommendation based on TSRC's financial characteristics. As the company TSRC's key financial metrics exhibit excellent performance in two areas, such as good value (Obermatt Value Rank of 53) and above-average growth (Obermatt Growth Rank of 97), it could be argued that the risk-taking in financing (Obermatt Safety Rank of only 49) indicates that the company is optimistic about the future and sees debt as an opportunity to boost returns. More debt means more shareholder returns if everything goes well. However, higher debt burdens are risky when interest rates rise or the business deteriorates in a crisis. If you believe the company's future is market-typical or even better, this could be an argument for a share purchase. Obermatt Premium subscribers can further check the stock’s Sentiment Ranks, which also flow into the Obermatt 360° View for investors. ...read more

Latest Obermatt Ranks


360° View^new
Sentiment Rank^new
Value Rank	53
Growth Rank	97
Safety Rank	49
Combined Rank	87

Country	Taiwan
Industry	Commodity Chemicals
Index	Water Efficiency, FTSE Taiwan
Size class	Large

27-Mar-2025. Stock data may be delayed. Log in or sign up to get the most recent research.

Further information

Multiple opinions. One number.

Analysts rarely agree on a stock’s future. So, who do you believe? Obermatt translates those collective views into a single Sentiment Rank. That plus the financial ranks give you the ultimate 360° View. Sign up to access them.

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Review the performance ranks of the individual metrics that form each investment strategy.

Research History: TSRC

RESEARCH HISTORY	2022	2023	2024	2025
VALUE
VALUE	45	51	37	53
GROWTH
GROWTH	91	9	66	97
SAFETY
SAFETY	12	46	37	49
SENTIMENT
SENTIMENT	94	34	32	^new
360° VIEW
360° VIEW	75	18	38	^new

Most recent update of the stock research: 27-Mar-2025. Financial reporting date used for calculating ranks: 30-Sep-2024. Stock research history is based on the Obermatt Method. The higher the rank, the better TSRC is in the corresponding investment strategy.
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Combined financial peformance in Detail

RESEARCH HISTORY	2022	2023	2024	2025
VALUE
VALUE	45	51	37	53
GROWTH
GROWTH	91	9	66	97
SAFETY
SAFETY	12	46	37	49
COMBINED
COMBINED	45	22	52	87

Last update of combined financial performance: 27-Mar-2025. Stock analysis on combined financial performance: The higher the rank of TSRC the better the performance.

Value Metrics in Detail

ANALYSIS: With an Obermatt Value Rank of 53 (better than 53% compared with alternatives), TSRC shares are more attractively priced than the majority of comparable stocks. The Value Rank is based on consolidating four value indicators, where half the indicators are below and half above average for TSRC. Price-to-Sales (P/S) is 68, which means that the stock price compared with what market professionals expect for future sales is lower than for 68% of comparable companies, indicating a good value concerning TSRC's revenue size. The same is valid for dividend yields with a Dividend Yield rank of 65, which means that dividends are expected to be higher than for 65% of comparable investments. On the other hand, the Price-to-Book Capital ratio (also referred to as market-to-book ratio) is less favorable than for 58% of alternatives (only 42% of peers have an even higher ratio). The same is valid for the Price-to-Profit (or Price / Earnings, P/E) ratio, which is higher than for 70% of comparable companies, making the stock more expensive compared with the company's expected profit levels. ...read more

RECOMMENDATION: The overall picture with a consolidated Value Rank of 53, is a buy recommendation based on TSRC's stock price compared with the company's operational size and dividend yields. This is a somewhat surprising picture, because it means that profits are low while dividends are high. One interpretation could be that profits are expected to increase, justifying the high dividend payments. But it could also mean that the company desperately keeps the high dividends to avoid a collapsing share price. This would be a rather dangerous constellation. We recommend further analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks, including the 360° View, before making an investment decision, which is especially important in this case, as the financial indicators are inconclusive. ...read more

VALUE METRICS	2022	2023	2024	2025
PRICE VS. REVENUES (P/S)
PRICE VS. REVENUES (P/S)	34	49	53	68
PRICE VS. PROFITS (P/E)
PRICE VS. PROFITS (P/E)	46	11	13	30
PRICE VS. CAPITAL (Market-to-Book)
PRICE VS. CAPITAL (Market-to-Book)	28	44	41	42
DIVIDEND YIELD
DIVIDEND YIELD	91	91	47	65
CONSOLIDATED RANK: VALUE
CONSOLIDATED RANK: VALUE	45	51	37	53

Last update of Value Rank: 27-Mar-2025. Stock analysis on value ratios: The higher the rank, the lower the value ratio of TSRC; except for dividend yield where the rank is higher, the higher the yield.

Growth Metrics in Detail

ANALYSIS: With an Obermatt Growth Rank of 97 (better than 97% compared with alternatives) for 2025, TSRC shows one of the highest growth dynamics in its industry. Investors also speak of high momentum. The Growth Rank is based on consolidating four value indicators, with all four indicators above average for TSRC. Sales Growth has a value of 97, which means that, currently, professionals expect the company to grow more than 97% of its competitors. The same is valid for Profit Growth with a value of 69 and for Capital Growth with 91. In addition, Stock Returns had an above-average rank value of 61, which means they have been higher than 61% of comparable investments. ...read more

RECOMMENDATION: The overall picture with a consolidated Growth Rank of 97, is a buy recommendation for growth and momentum investors. Since all Growth Ranks are positive, TSRC exhibits above-average growth momentum. This could be due to a uniquely strong market position, proprietary technology, or an extensive corporate acquisition strategy. Growth investors will find this an attractive investment opportunity, unless they expect that the current phase is transitory and will deteriorate in the future. The current performance could also be a temporary recovery from a very low point, such as a turn-around situation. In the case of a turn-around, the current performance may or may not be followed by a continuing positive development. While momentum is a popular investment factor, the value aspect might be the more important one, in the longer term. We recommend analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks to arrive at a 360° View of the stock purchase case. ...read more

GROWTH METRICS	2022	2023	2024	2025
REVENUE GROWTH
REVENUE GROWTH	26	4	4	97
PROFIT GROWTH
PROFIT GROWTH	100	23	69	69
CAPITAL GROWTH
CAPITAL GROWTH	67	43	88	91
STOCK RETURNS
STOCK RETURNS	93	21	63	61
CONSOLIDATED RANK: GROWTH
CONSOLIDATED RANK: GROWTH	91	9	66	97

Last update of Growth Rank: 27-Mar-2025. Stock analysis on growth metrics: The higher the rank, the higher the growth and returns of TSRC.

Safety Metrics in Detail

ANALYSIS: With an Obermatt Safety Rank of 49 (better than 49% compared with alternatives), the company TSRC has financing practices on the riskier side, which means that their overall debt burden is above the industry average. This doesn't mean that the business of TSRC is also risky, it only means that the company is on the riskier side in respect to bankruptcy in case things turn sour, assuming that public reporting is correct. The Safety Rank is based on consolidating three financing indicators, with just one indicator above average for TSRC and the other two below average. Refinancing is at 77, meaning the portion of the debt about to be refinanced is below average. It has less debt in the refinancing stage than 77% of its competitors. But Leverage is high with a rank of 34, meaning the company has an above-average debt-to-equity ratio. It has more debt than 66% of its competitors. Liquidity is also on the riskier side with a rank of 37, meaning the company generates less profit to service its debt than 63% of its competitors. ...read more

RECOMMENDATION: With a consolidated Safety Rank of 49 (worse than 51% compared with alternatives), TSRC has a financing structure that is riskier than that of its competitors. A good Refinancing Rank means that the problems of the company may not be around the corner. But high Leverage is only good if things go well, and low Liquidity is a signal for caution. The financing signals for TSRC are on the riskier side, requiring the company's future to be on the safer side. Investors may want to look at Growth and Sentiment ranks before making an investment decision. In the long-term, investors may have a debt challenge with TSRC and should also compare Obermatt’s Value, Growth, and Sentiment Ranks before making a decision. ...read more

SAFETY METRICS	2022	2023	2024	2025
LEVERAGE
LEVERAGE	28	34	39	34
REFINANCING
REFINANCING	33	43	60	77
LIQUIDITY
LIQUIDITY	16	58	22	37
CONSOLIDATED RANK: SAFETY
CONSOLIDATED RANK: SAFETY	12	46	37	49

Last update of Safety Rank: 27-Mar-2025. Stock analysis on safety metrics: The higher the rank, the lower the leverage of TSRC and the more cash is available to service its debt.

Sentiment Metrics in Detail

SENTIMENT	2022	2023	2024	2025
ANALYST OPINIONS
ANALYST OPINIONS	n/a	13	9	^new
OPINIONS CHANGE
OPINIONS CHANGE	50	50	50	^new
PRO HOLDINGS
PRO HOLDINGS	96	60	67	^new
MARKET PULSE
MARKET PULSE	76	79	79	^new
CONSOLIDATED RANK: SENTIMENT
CONSOLIDATED RANK: SENTIMENT	94	34	32	^new

Last update of Sentiment Rank: 27-Mar-2025. Stock analysis on sentiment metrics: The higher the rank, the more positive the sentiment for TSRC.
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