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 96 (better than 96% 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 71 (better than 71% of alternatives), show above-average growth (Growth Rank of 95) but are riskily financed (Safety Rank of 48), which means above-average debt burdens. ...read more

RECOMMENDATION: A Combined Rank of 96, 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 71) and above-average growth (Obermatt Growth Rank of 95), it could be argued that the risk-taking in financing (Obermatt Safety Rank of only 48) 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	71
Growth Rank	95
Safety Rank	48
Combined Rank	96

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

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

Further information

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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	71
GROWTH
GROWTH	91	9	66	95
SAFETY
SAFETY	12	46	37	48
SENTIMENT
SENTIMENT	94	34	32	^new
360° VIEW
360° VIEW	75	18	38	^new

Most recent update of the stock research: 31-Jul-2025. Financial reporting date used for calculating ranks: 31-Mar-2025. 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	71
GROWTH
GROWTH	91	9	66	95
SAFETY
SAFETY	12	46	37	48
COMBINED
COMBINED	45	22	52	96

Last update of combined financial performance: 31-Jul-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 71 (better than 71% 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 three out of four indicators are above average for TSRC. Price-to-Sales (P/S) is 76 which means that the stock price compared with what market professionals expect for future sales is lower than for 76% of comparable companies, indicating a good value for TSRC's revenue size. The same is valid for the Price-to-Book Capital ratio (also referred to as market-to-book ratio) with a Price-to-Capital Rank of 53. Finally, compared with other companies in the same industry, dividend yields of TSRC are expected to be higher than for 75% of all competitors (a Dividend Yield rank of 75). The only low rank is for expected profits with a Price-to-Profit Rank of 47, indicating that the market expects the company's profit to be low despite a high dividend. ...read more

RECOMMENDATION: The overall picture with a consolidated Value Rank of 71, is a buy recommendation based on TSRC's stock price compared with the company's operational size and dividend yields. The low Profit Rank could result from a one-off charge, for instance, for an accident, a legal settlement, or a restructuring project. If the company keeps its dividends high, the low expected profit may be transitory. If that is the case, the three good value ranks for Sales, Capital, and Dividends are reliable indicators for good stock price value, a low stock price. We recommend further analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks, including the 360° View, before making an investment decision. ...read more

VALUE METRICS	2022	2023	2024	2025
PRICE VS. REVENUES (P/S)
PRICE VS. REVENUES (P/S)	34	49	53	76
PRICE VS. PROFITS (P/E)
PRICE VS. PROFITS (P/E)	46	11	13	47
PRICE VS. CAPITAL (Market-to-Book)
PRICE VS. CAPITAL (Market-to-Book)	28	44	41	53
DIVIDEND YIELD
DIVIDEND YIELD	91	91	47	75
CONSOLIDATED RANK: VALUE
CONSOLIDATED RANK: VALUE	45	51	37	71

Last update of Value Rank: 31-Jul-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 95 (better than 95% 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 but one indicator 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. Profit Growth with a value of 67 and Capital Growth with a rank of 87 means that currently, professionals expect the company to grow both profits and invested capital more than of its competitors. But Stock Returns has only a rank of 31, which means that stock returns have recently been below 69% of alternative investments. ...read more

RECOMMENDATION: The overall picture with a consolidated Growth Rank of 95, is a buy recommendation for growth and momentum investors. TSRC has only one below-average growth indicator, the stock returns. This is probably the least reliable growth indicator, because it measures company and investor expectations at the same time. The three other growth indicators, which are all positive for TSRC, are more reliable measures of growth momentum. For this reason, the company seems to be on a good trajectory, unless you think the current period is not representative, because of unique events that will not be repeated in the future. 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	67
CAPITAL GROWTH
CAPITAL GROWTH	67	43	88	87
STOCK RETURNS
STOCK RETURNS	93	21	63	31
CONSOLIDATED RANK: GROWTH
CONSOLIDATED RANK: GROWTH	91	9	66	95

Last update of Growth Rank: 31-Jul-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 48 (better than 48% 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 79, meaning the portion of the debt about to be refinanced is below average. It has less debt in the refinancing stage than 79% of its competitors. But Leverage is high with a rank of 36, meaning the company has an above-average debt-to-equity ratio. It has more debt than 64% of its competitors. Liquidity is also on the riskier side with a rank of 36, meaning the company generates less profit to service its debt than 64% of its competitors. ...read more

RECOMMENDATION: With a consolidated Safety Rank of 48 (worse than 52% 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	36
REFINANCING
REFINANCING	33	43	60	79
LIQUIDITY
LIQUIDITY	16	58	22	36
CONSOLIDATED RANK: SAFETY
CONSOLIDATED RANK: SAFETY	12	46	37	48

Last update of Safety Rank: 31-Jul-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: 15-May-2025. Stock analysis on sentiment metrics: The higher the rank, the more positive the sentiment for TSRC.
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