Obermatt
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Flags

Financial distress

FST

NMQ:KBSX · KYG3R23E1004
Leisure ProductsX-Small

360

43
Medium confidence — indicative
EV / EBIT20
Price / Owner Earnings26
Owner Earnings Yield65
Dividend Yield1
Price/Sales26
EV / Gross Profit24
Price/Book15
Return on Capital51
Cash Return on Capital96
Return on Equity100
EBIT Margin49
Gross Profitability75
Cash Conversion17
Accruals7
Owner Earnings Margin94
Sales growth97
Profit growth7
Reinvestment23
Price momentum39
Debt load3
Refinancing33
Debt Payback43
Liquidity23
Analyst ratings100
Opinion Changes100
Price Target Upside92
Market mood7
Value Creation18/20strong value creator
  • Creates more value than its capital costs
  • Owner earnings growing
  • Owner earnings per share growing
  • Reinvests at strong returns
  • Solid earnings base

What this means

FST generates returns well above its cost of capital, the foundation of durable shareholder value.

Profile

CountryTaiwan
IndustryLeisure Products
SizeX-Small
TypePublic Company
ExchangeNASDAQGM
Founded1976
Websitelatamgrowthspac.com
ISINKYG3R23E1004
Last UpdateApr 2, 2026
Indices
NASDAQ (USA)
Themes
LifestyleAmateur Sports

Description

FST Corp., through its subsidiaries, manufactures and innovates in the golf industry with a growing portfolio of innovative golf products, including acclaimed golf club shafts and other equipment. The company has engaged in research and development,…

Analysis

Middle-of-the-road

FST Corp. sits in the middle of our grid: average quality, average price, no obvious signal in either direction. Worth noting: the cash the business generates has lagged behind what the income statement shows.

On valuation, the picture is attractive. The owner-earnings multiple stands at 12.4×; owner earnings: the cash an owner could take out each year.

Growth is mixed; the safety picture is stretched. The company scores 18/20 on our value-creation score: strong value creator. Analysts lean positive.

Flags to be aware of: Some accounting patterns deserve a closer look. Some accounting patterns deserve a closer look. Reported profits have run ahead of actual cash for several periods. As always: this describes the company's numbers; it is not a recommendation.

360° rank · history

1007550250
13
2026

All-time high

13

Jun 2026

All-time low

9

Mar 2026

Average rank

11

across all years

Detailed & Historical Ranks

Deep dive into 15 detailed ranks and 3 years of history.

Current202520242023
Price/Sales
26
—
—
—
Price/Earnings
12
—
—
—
Price/Book
15
—
—
—
Dividend Yield
1
—
—
—
Value (overall)
1
—
—
—

Cells are coloured by rank band (red weak → green strong). Sentiment & 360° history begins 2023.

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Make Sense of the Ranks

Every rank runs 1–100 against true peers. Higher is always better.

360° View
1 · Watch OutGood· 100
Value
1 · ExpensiveGood Value· 100
Quality
1 · Weak FundamentalsHigh Quality· 100
Growth
1 · Tough TimesHigh Growth· 100
Safety
1 · High LeverageWell-Financed· 100
Sentiment
1 · SkepticismPositive· 100
Learn More →