Hocheng Corp (1810) fair value: what the stock is really worth
As of Nov 2, 2026: fair value (intrinsic value) of Hocheng Corp stock TWD 5.71, price TWD 21.90, that is 73.9% below the price, quality 57 out of 100. Rating: strongly overvalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Hocheng Corp
1810 · TWOur calculation puts a fair price 74% below what the stock costs today.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Oct 31, 2026.
How to read this chart
60‑month range 8.12 TWD – 34.15 TWD · fair‑value band 4.16 TWD – 7.25 TWD · the 21.90 TWD price screens above the 5.71 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Oct 31, 2026.
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Company profile
Hocheng Corporation provides bathroom products in Taiwan and internationally.
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It offers sanitary ceramics and its attachments, tiles, ceramic toys, sand wheels, fine ceramics, electronic ceramics, voltage insulators, bricks, ceramic table wares, ceramic containers, artistic ceramic products, refractory materials, heat insulating materials, and other kiln ceramics; and bathroom appliances, including cosmetic mirrors, paper towel holders, soap dishes, mug holders, towel rings/racks, clothes hooks, makeup plates, ashtrays, etc.; and constructs, leases, and sells public housing and commercial buildings; manufactures and trades pre-cast concrete and curtain wall products; and offers display, introduction, and sales services for domestic and foreign art and folk crafts.
The company provides water-supply copper wares, milling tubes, vanishes, enamel products, and other fabrication accessories; electric water heaters, water boilers, water dispensers, water flushers, water filters, bathroom dryers, air purifiers, sauna heaters, hand dryers, automatic toilet cover devices, dehydrators, and gas water heaters; fire doors, partition walls, tile walls, door windows, etc.; and reservoirs, bathtubs, toilet covers, modular bathrooms, and glass fiber products; offers industrial furnaces, such as batch furnaces, continuous furnaces, semi-continuous furnaces, and its components; controlling/testing instruments and sensor components; imports and sells automobiles; and trades in materials, bathroom equipment, artistic ceiling fans, and lighting fixtures products.
In addition, it imports and exports trade and related interbank endorsement/guarantees; imports, exports, installs, and sells wood and plastic kitchen products, and related components; imports, exports, wholesales, and retails watches, perfumes, and departmental merchandises; designs and constructs interior decoration.
The company was incorporated in 1931 and is based in Taipei City, Taiwan.
Stock analysis
Hocheng Corp (1810) currently trades at 21.90 TWD, while our model-based Fair Value estimate is 5.71 TWD, 73.9% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Economic Profit group reads highest at a median of 12.09 TWD per share, and 1 of the 21 models we run sit above the 21.90 TWD price.
Bear case: the Growth Earnings group reads lowest at 0.7500 TWD, and 20 of the 21 models stay below the price. Data coverage for this calculation is low.
Scenario range: 4.16 TWD (bear) to 7.25 TWD (bull), the price of 21.90 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 57/100 (solid quality), in the Consumer Cyclical sector.
Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.
Hocheng Corp reported revenue of 4.6B TWD in FY2025 versus 5.3B TWD in FY2021, a compound −3.8%/yr. Reported net income was 14.3M TWD in FY2025, compounding −69.9%/yr from FY2021.
Key figures
Market cap 7.3B TWD (≈ $225M) Micro · P/E ratio 6.0 · P/S ratio 1.68 · EPS (TTM) 3.62 TWD · Net margin 25.4% · Return on equity 14.4% · Return on assets (EBIT) 4.1% · Operating margin −2.4%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 40 out of 100 (low confidence).
What moves the price
The share trades about 36% below its 52-week high and 34% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at −18% fair-value upside, at −74%, 1810 screens richer than that median.
Fair Value models
All 21 models by family
Quality Score breakdown
It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.
Revenue & earnings trend
Growth Forecast
1810 screens overvalued: fair value 74% below the price. Compare with Midea Group →
Compare Hocheng Corp with another stock
Price, fair value, quality and upside side by side.
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.Furnishings, Fixtures & Appliances · 297 stocks
Valuation Multiplesvs Furnishings, Fixtures & Appliances median · lower = cheaper
Strength profile in five axes (Snowflake)
VALUE 0: the price sits above our fair-value range.
Context: sector, industry, market
- Is the Industrials sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- Quality Score by industry
- Return on equity by industry
- Stock screener with 62 metrics
- Undervalued stocks: Industrials
- Undervalued stocks: Taiwanese Stocks
- Valuation of the Taiwan market
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Furnishings, Fixtures & Appliances stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value | Compare |
|---|---|---|---|---|
| Gree Electric Appliances, Inc 000651 | ¥38.52 | ¥97.62 | +153% | vs 1810 |
| Haier Smart Home Co 600690 | ¥20.55 | ¥45.72 | +122% | vs 1810 |
| Midea Group 000333 | ¥87.66 | ¥129.20 | +47% | vs 1810 |
| Zhejiang Supor Co 002032 | ¥43.48 | ¥50.78 | +17% | vs 1810 |
| Mohawk Industries, Inc MHK | $139.41 | $114.64 | −18% | vs 1810 |
| COWAY Co 021240 | 105,100 KRW | 74,990 KRW | −29% | vs 1810 |
| SharkNinja, Inc SN | $208.00 | $98.58 | −53% | vs 1810 |
| King Slide Works Co 2059 | 9,420 TWD | 4,427 TWD | −53% | vs 1810 |
| Somnigroup International Inc SGI | $63.56 | $29.05 | −54% | vs 1810 |
| Guangdong Songfa Ceramics Co 603268 | ¥157.96 | ¥31.45 | −80% | vs 1810 |
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