GTM Holdings Corp (1437) fair value: what the stock is really worth
As of Nov 9, 2026: fair value (intrinsic value) of GTM Holdings Corp stock TWD 12.85, price TWD 29.40, that is 56.3% below the price, quality 60 out of 100. Rating: strongly overvalued. Calculated from audited financials with 24 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 4, 2026.
How to read this chart
60‑month range 22.36 TWD – 39.50 TWD · fair‑value band 12.85 TWD – 23.72 TWD · the 29.40 TWD price screens above the 12.85 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 4, 2026.
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GTM Holdings Corporation, together with its subsidiaries, engages in the real estate, textile, electronic, solar, and investment businesses in Taiwan. It operates in three segments: Textile, Electronic, and Real Estate.
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The company develops, sells, and leases office buildings, shopping malls, and logistics centers, as well as building construction and leasing of residential properties.
It also engages in the manufacture and trade of textiles, ready-made garments, knitwear, wool quilts and blankets, suits, pillows, sheets, bedspreads, shawls, underwear, and other products, as well as supplying military uniforms; manufactures and trades in electronic components and materials; wholesale and retail of fabrics; develops and operates renewable energy; and invests in domestic and foreign stocks, bonds, and funds, as well as post-investment management of re-investment businesses.
GTM Holdings Corporation was founded in 1951 and is based in Taipei City, Taiwan.
Stock analysis
GTM Holdings Corp (1437) currently trades at 29.40 TWD, while our model-based Fair Value estimate is 12.85 TWD, 56% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 51.23 TWD per share, and 8 of the 22 models we run sit above the 29.40 TWD price.
Bear case: the Growth DCF group reads lowest at 5.34 TWD, and 14 of the 22 models stay below the price. Data coverage for this calculation is low.
Scenario range: 12.85 TWD (bear) to 23.72 TWD (bull), the price of 29.40 TWD sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 60/100 (solid quality), in the Real Estate sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
GTM Holdings Corp reported revenue of 927M TWD in FY2025 versus 698M TWD in FY2021, a compound +7.3%/yr. Reported net income was 490M TWD in FY2025, compounding +1.7%/yr from FY2021.
Key figures
Market cap 5.9B TWD (≈ $181M) Micro · P/E ratio 6.9 · P/S ratio 6.28 · EPS (TTM) 4.28 TWD · Dividend yield 5.4% · Net margin 92.1% · Return on equity 10.5% · Return on assets (EBIT) 3.1% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 69 out of 100 (low confidence).
What moves the price
The share trades about 16% below its 52-week high and 5% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Real Estate peers we cover trades at −16% fair-value upside, at −56%, 1437 screens richer than that median.
Fair Value models
Bear12.85 TWDFair Value 12.85 TWDBull23.72 TWD
Price 29.40 TWD · Downside -56.3%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (2.31 TWD per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.74/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+9.6%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+4.9%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+8.9%
Start year 2020 (pandemic)
Revenue growth 9 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+5.4%
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What shareholders gained per year (last 5 years), in TWD ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in TWD: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+6.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year+1.4%
Dividend (yield on the price)5.4%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.1.4% vs 9.1%, slowing
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.60% → 44%
Pace: the 5-year rate starts in 2020 (pandemic)
⚠ Revenue per share shrinking 1.9%/yr over ~10Y (margins intact) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+30.5%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Taiwan: IMF forecast 1.6% a year to 2030, 1.5% from 2016 to 2025) that is about +28.4% a year for the price.
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Real Estate Services · 472 stocks
Beats the industry median on 10/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score60 · Above median
Fair Value upside−56.3% · Bottom 25%
Profitability
Return on equity (12 months)10.5% · Top 25%
Return on assets3.6% · Above median
Net margin (12 months)92.1% · Top 25%
Operating margin (12 months)52.7% · Above median
Growth and dividend
Revenue growth (quarter YoY)18.9% · Top 25%
Dividend yield (12 months)5.4% · Above median
Balance sheet
Debt / equity0.41× · Above median
Valuation Multiplesvs Real Estate Services median · lower = cheaper
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Is GTM Holdings Corp (1437) overvalued or undervalued?
As of Nov 4, 2026, our model estimates a fair value of 12.85 TWD versus a price of 29.40 TWD, about 56% lower (overvalued).
What is the fair value of 1437?
Our model-based fair value for GTM Holdings Corp is 12.85 TWD (as of Nov 4, 2026), built from audited fundamentals. The current price: 29.40 TWD.
What is the quality score of 1437?
GTM Holdings Corp has a Quality Score of 60/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for GTM Holdings Corp (1437)?
Our model-based price target is the fair value of 12.85 TWD (as of Nov 4, 2026) from 24 valuation models. Cautious scenario 12.85 TWD, optimistic scenario 23.72 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the GTM Holdings Corp stock forecast for 2026?
Our models put fair value at 12.85 TWD, about 56% lower versus a price of 29.40 TWD (overvalued). Cautious scenario 12.85 TWD, optimistic scenario 23.72 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of GTM Holdings Corp (1437)?
GTM Holdings Corp reported trailing-twelve-month revenue of about 947M TWD (latest available figure, as of Nov 4, 2026).
Does GTM Holdings Corp pay a dividend?
GTM Holdings Corp currently shows a dividend yield of 5.39% relative to its recent price (as of Nov 4, 2026).
How much is the dividend of GTM Holdings Corp (1437) and when is the ex-dividend date?
GTM Holdings Corp pays a dividend of 1.58 TWD per share a year, a dividend yield of 5.4%. The last ex-dividend date was Aug 5, 2026. The payout ratio is 37.0% of earnings. Free cash flow covers the dividend 0.57 times. Our assessment: Watch coverage. The dividend isn’t fully covered by free cash flow or earnings, part of it is funded from reserves or debt. Fine for now, but worth watching: if it stays uncovered, the dividend could be cut.
What growth is priced into GTM Holdings Corp (1437)?
For today's price to be fair in a discounted-cash-flow model, GTM Holdings Corp would have to grow free cash flow by +30.5 % per year for five years (discount rate 11.8 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +8.9 % per year. As of Nov 4, 2026.
What discount rate (WACC) does the fair value of 1437 use?
Our models discount GTM Holdings Corp at 11.8 %: a base by market capitalisation (micro), damped by beta 0.02, country premium for Taiwan. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For GTM Holdings Corp that is +30.5 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (11.8 %) and the same formula as our fair value.
How much growth has GTM Holdings Corp (1437) delivered so far?
Over the past 5 years revenue at GTM Holdings Corp grew +8.9 % a year. The price currently implies free-cash-flow growth of +30.5 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of GTM Holdings Corp (1437) growing?
The median revenue growth in the sector is +11.5 % a year. That is the yardstick for the growth priced into GTM Holdings Corp (+30.5 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of GTM Holdings Corp (1437)?
The free-cash-flow yield on the price is 3.06 %: that much free cash flow GTM Holdings Corp produces per unit of market value. When it exceeds the discount rate of our models (11.8 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of GTM Holdings Corp (1437)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For GTM Holdings Corp it is 12.85 TWD per share (as of Nov 4, 2026), against a price of 29.40 TWD. It is the blended result of 24 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is GTM Holdings Corp stock overvalued or undervalued in 2026?
As of Nov 4, 2026, 1437 trades above its calculated fair value: price 29.40 TWD, fair value 12.85 TWD, a gap of about −56% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 1437?
No. The price is what the market pays today (29.40 TWD); the fair value is what the company's own numbers justify (12.85 TWD). For GTM Holdings Corp the two are 16.55 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is GTM Holdings Corp worth?
The market values GTM Holdings Corp at about 5.9B TWD (market capitalisation, as of Nov 4, 2026). Per share that is 29.40 TWD; our models calculate a fair value of 12.85 TWD per share.
What do the bullish and bearish scenarios say about 1437?
Our models span a range for GTM Holdings Corp: cautious scenario 12.85 TWD, base 12.85 TWD, optimistic 23.72 TWD per share (as of Nov 4, 2026, price 29.40 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 1437?
GTM Holdings Corp trades at a price-to-earnings ratio of 6.9 (as of Nov 4, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 12.85 TWD is built from several models across several years. Median P/E at fiscal year-end, 8 fiscal years (2018 to 2025), reported earnings: 12.3. Other multiples: P/B 0.7, P/S 6.3, EV/EBITDA 13.8.
How solid is the balance sheet of GTM Holdings Corp (1437)?
Balance-sheet figures for GTM Holdings Corp (as of Nov 4, 2026): return on equity 10.5%, debt of 0.41 per unit of equity. They feed the Quality Score of 60/100, which measures business quality independently of the share price.
How far is 1437 from its 52-week high?
GTM Holdings Corp trades at 29.40 TWD, about 16% below its 52-week high of 34.80 TWD and 5% above the low of 28.10 TWD (as of Nov 9, 2026). Distance from the high says nothing about value: that is what the fair value of 12.85 TWD is for.
Which stocks are comparable to GTM Holdings Corp?
From the same area (Real Estate) we also value CBRE Group, Cellnex Telecom, S.A, KE Holdings, Swire Properties Limited, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is GTM Holdings Corp stock attractive at the current price?
The data as of Nov 4, 2026: price 29.40 TWD, calculated fair value 12.85 TWD (−56%), Quality Score 60/100, from 24 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 1437 calculated?
We run GTM Holdings Corp through 24 models from 8 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of 12.85 TWD builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.3% above its aggregate fair value. GTM Holdings Corp itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of GTM Holdings Corp (1437)?
The closing price on Nov 9, 2026 was 29.40 TWD. Our model-based fair value is 12.85 TWD, about 56% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with GTM Holdings Corp right now?
The price sits above even our optimistic bull case (23.72 TWD). The favourable scenario is already priced in. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid but not exceptional quality (60/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (12.85 TWD to 23.72 TWD) leaves room in how you read the outcome.
Where does the earnings growth of GTM Holdings Corp (1437) come from?
Earnings per share at GTM Holdings Corp grew +10.9 % a year from 2014 to 2025. Broken into its drivers: revenue per share +1.1 %, EBIT margin +11.4 %, tax rate +0.2 %, residual (interest, one-offs) −1.7 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of GTM Holdings Corp
How large is the market capitalisation of GTM Holdings Corp (1437)?
The market capitalisation of GTM Holdings Corp is 5.9B TWD (≈ $181M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of GTM Holdings Corp (1437)?
The price-to-sales ratio of GTM Holdings Corp is 6.28 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of GTM Holdings Corp (1437)?
Earnings per share at GTM Holdings Corp are 4.28 TWD (price ÷ EPS = P/E 6.9). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of GTM Holdings Corp (1437)?
The dividend yield of GTM Holdings Corp is 5.4% (payout 37.0%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of GTM Holdings Corp (1437)?
The net margin of GTM Holdings Corp is 92.1% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of GTM Holdings Corp (1437)?
The return on equity (ROE) of GTM Holdings Corp is 10.5% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of GTM Holdings Corp (1437)?
On an EBIT basis the return on assets of GTM Holdings Corp is 3.1% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of GTM Holdings Corp (1437)?
The operating margin of GTM Holdings Corp is 52.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at GTM Holdings Corp (1437)?
Revenue at GTM Holdings Corp is growing +18.9% versus a year earlier (3y avg +4.9%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at GTM Holdings Corp (1437)?
Earnings per share at GTM Holdings Corp are growing +101% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does GTM Holdings Corp (1437) carry?
The net debt of GTM Holdings Corp is 3.8B TWD (fiscal year 2025, ≈ 20.8 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Thin data
Nov 4, 2026