Sanyang Motor Co Ltd (2206) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Sanyang Motor Co Ltd stock TWD 62.45, price TWD 61.80, upside +1.1%, quality 46 out of 100. Rating: fairly valued. Calculated from audited financials with 25 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 3, 2026.
How to read this chart
60‑month range 24.35 TWD – 95.52 TWD · fair‑value band 35.23 TWD – 93.31 TWD · the 61.80 TWD price screens below the 62.45 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. As of Nov 3, 2026.
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Sanyang Motor Co., Ltd. engages in the manufacture and sale of automobiles, motorcycles, and their components in Taiwan, China, Asia, Europe, and internationally.
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The company is involved in the provision of distribution, repair, and maintenance of automobiles and its parts; product design; automotive parts; locomotives and their parts; repair and maintenance; passenger car rental; investment businesses; motorcycles and spare parts; waste disposal; senior housing; research on aluminum battery-related energy; development, manufacturing, and sales; sales of tea; real estate trading; planning and development; auto repair and auto parts sales; property insurance agency business; retail of automobiles and their parts; medical tools and other businesses; research, development, and sales of devices for detecting human physiology; electronic component manufacturing; entertainment and leisure services; camping trailers; real estate trading; automobile and parts dealership, and repair; campervans; motorcycle parts manufacturing, processing, and sales; and real estate development and management.
It also provides related technical and consulting services. The company offers its products under the SYM and HYUNDAI brands. The company was formerly known as Sanyang Industry Co., Ltd. and changed its name to Sanyang Motor Co., Ltd. in January 2015.
Sanyang Motor Co., Ltd. was founded in 1954 and is headquartered in Hsinchu City, Taiwan.
Stock analysis
Sanyang Motor Co Ltd (2206) currently trades at 61.80 TWD, while our model-based Fair Value estimate is 62.45 TWD, so the stock looks roughly fairly valued today (gap 1.0%).
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 106.60 TWD per share, and 12 of the 25 models we run sit above the 61.80 TWD price.
Bear case: the Asset-Based group reads lowest at 22.87 TWD, and 13 of the 25 models stay below the price. Data coverage for this calculation is high.
Scenario range: 35.23 TWD (bear) to 93.31 TWD (bull), the price of 61.80 TWD sits inside 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 46/100 (below-average quality), in the Consumer Cyclical sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Sanyang Motor Co Ltd reported revenue of 62.6B TWD in FY2025 versus 41.6B TWD in FY2021, a compound +10.8%/yr. Reported net income was 4.5B TWD in FY2025, compounding +25.5%/yr from FY2021.
Key figures
Market cap 47.3B TWD (≈ $1.4B) Small · P/E ratio 10.7 · P/S ratio 0.78 · EPS (TTM) 5.77 TWD · Dividend yield 4.9% · Net margin 7.5% · Return on equity 11.8% · Return on assets (EBIT) 7.4% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 43 out of 100 (low confidence).
What moves the price
The share trades about 6% below its 52-week high and 11% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at 8% fair-value upside, at 1%, 2206 screens richer than that median.
Fair Value models
Bear35.23 TWDFair Value 62.45 TWDBull93.31 TWD
Price 61.80 TWD · Upside +1.1%
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 (2.32 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.58/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−4.6%
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.
+7.2%
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.
+9.0%
Start year 2020 (pandemic). Over 10 years: +6.7% a year
Revenue growth 25 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.
+2.8%
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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.
+24.0%
Earnings growth per share plus dividend.
Earnings per share, growth per year+19.1%
Dividend (yield on the price)4.9%
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.19.1% vs 5.2%, picking up
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.7% → 9%
Pace: the 5-year rate starts in 2020 (pandemic)
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).
+19.5%
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 +17.6% 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.Auto Manufacturers · 106 stocks
Beats the industry median on 7/15 measures
A mixed picture versus its industry peers.
Valuation
Quality Score46 · Below median
Fair Value upside+1.1% · Below median
Profitability
Return on equity (12 months)11.8% · Above median
Return on assets4.7% · Above median
Net margin (12 months)7.5% · Top 25%
Operating margin (12 months)8.0% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)−9.3% · Bottom 25%
Dividend yield (12 months)4.9% · Top 25%
Balance sheet
Debt / equity0.77× · Highest 25%
Valuation Multiplesvs Auto Manufacturers median · lower = cheaper
P/E (12 months)10.7× · Cheaper than median
P/B1.80× · Pricier than median
P/S (12 months)0.78× · Pricier than median
Price / free cash flow (fiscal year)19.8× · Pricier than median
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Cite: Fair Value Calculator (2026). "Sanyang Motor Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/2206
Frequently asked questions
Is Sanyang Motor Co Ltd (2206) overvalued or undervalued?
As of Nov 3, 2026, our model estimates a fair value of 62.45 TWD versus a price of 61.80 TWD, about +1% upside (fairly valued).
What is the fair value of 2206?
Our model-based fair value for Sanyang Motor Co Ltd is 62.45 TWD (as of Nov 3, 2026), built from audited fundamentals. The current price: 61.80 TWD.
What is the quality score of 2206?
Sanyang Motor Co Ltd has a Quality Score of 46/100. 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 Sanyang Motor Co Ltd (2206)?
Our model-based price target is the fair value of 62.45 TWD (as of Nov 3, 2026) from 25 valuation models. Cautious scenario 35.23 TWD, optimistic scenario 93.31 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Sanyang Motor Co Ltd stock forecast for 2026?
Our models put fair value at 62.45 TWD, about +1% upside versus a price of 61.80 TWD (fairly valued). Cautious scenario 35.23 TWD, optimistic scenario 93.31 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Sanyang Motor Co Ltd (2206)?
Sanyang Motor Co Ltd reported trailing-twelve-month revenue of about 60.9B TWD (latest available figure, as of Nov 3, 2026).
Does Sanyang Motor Co Ltd pay a dividend?
Sanyang Motor Co Ltd currently shows a dividend yield of 4.95% relative to its recent price (as of Nov 3, 2026).
How much is the dividend of Sanyang Motor Co Ltd (2206) and when is the ex-dividend date?
Sanyang Motor Co Ltd pays a dividend of 3.06 TWD per share a year, a dividend yield of 4.9%. The last ex-dividend date was Jul 22, 2026. The payout ratio is 53.0% of earnings. Free cash flow covers the dividend 1.03 times. Our assessment: Well covered. A low payout and the dividend is fully funded by free cash flow, a comfortable, sustainable dividend.
What growth is priced into Sanyang Motor Co Ltd (2206)?
For today's price to be fair in a discounted-cash-flow model, Sanyang Motor Co Ltd would have to grow free cash flow by +19.5 % 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 +9.0 % per year. As of Nov 3, 2026.
What discount rate (WACC) does the fair value of 2206 use?
Our models discount Sanyang Motor Co Ltd at 11.8 %: a base by market capitalisation (small), 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 Sanyang Motor Co Ltd that is +19.5 % 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 Sanyang Motor Co Ltd (2206) delivered so far?
Over the past 5 years revenue at Sanyang Motor Co Ltd grew +9.0 % a year. The price currently implies free-cash-flow growth of +19.5 % 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 Sanyang Motor Co Ltd (2206) growing?
The median revenue growth in the sector is +4.7 % a year. That is the yardstick for the growth priced into Sanyang Motor Co Ltd (+19.5 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Sanyang Motor Co Ltd (2206)?
The free-cash-flow yield on the price is 5.05 %: that much free cash flow Sanyang Motor Co Ltd 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 Sanyang Motor Co Ltd (2206)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Sanyang Motor Co Ltd it is 62.45 TWD per share (as of Nov 3, 2026), against a price of 61.80 TWD. It is the blended result of 25 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Sanyang Motor Co Ltd stock overvalued or undervalued in 2026?
As of Nov 3, 2026, 2206 trades below its calculated fair value: price 61.80 TWD, fair value 62.45 TWD, a gap of about +1% (fairly valued). 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 2206?
No. The price is what the market pays today (61.80 TWD); the fair value is what the company's own numbers justify (62.45 TWD). For Sanyang Motor Co Ltd the two are 0.6500 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Sanyang Motor Co Ltd worth?
The market values Sanyang Motor Co Ltd at about 47.3B TWD (market capitalisation, as of Nov 3, 2026). Per share that is 61.80 TWD; our models calculate a fair value of 62.45 TWD per share.
What do the bullish and bearish scenarios say about 2206?
Our models span a range for Sanyang Motor Co Ltd: cautious scenario 35.23 TWD, base 62.45 TWD, optimistic 93.31 TWD per share (as of Nov 3, 2026, price 61.80 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 2206?
Sanyang Motor Co Ltd trades at a price-to-earnings ratio of 10.7 (as of Nov 3, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 62.45 TWD is built from several models across several years. Median P/E at fiscal year-end, 9 fiscal years (2017 to 2025), reported earnings: 11.5. Other multiples: PEG 0.1, P/B 1.8, P/S 0.8, EV/EBITDA 8.8.
What is the PEG ratio of 2206?
The PEG ratio of Sanyang Motor Co Ltd is 0.15 (P/E divided by earnings growth, as of Nov 3, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Sanyang Motor Co Ltd (2206)?
Balance-sheet figures for Sanyang Motor Co Ltd (as of Nov 3, 2026): return on equity 11.8%, debt of 0.77 per unit of equity. They feed the Quality Score of 46/100, which measures business quality independently of the share price.
How far is 2206 from its 52-week high?
Sanyang Motor Co Ltd trades at 61.80 TWD, about 6% below its 52-week high of 65.50 TWD and 11% above the low of 55.50 TWD (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 62.45 TWD is for.
Which stocks are comparable to Sanyang Motor Co Ltd?
From the same area (Consumer Cyclical) we also value Tesla, Inc, Toyota Motor Corporation, BYD Company, Ferrari N.V, 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 Sanyang Motor Co Ltd stock attractive at the current price?
The data as of Nov 3, 2026: price 61.80 TWD, calculated fair value 62.45 TWD (+1%), Quality Score 46/100, from 25 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 2206 calculated?
We run Sanyang Motor Co Ltd through 25 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 62.45 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 13.0% above its aggregate fair value. Sanyang Motor Co Ltd currently trades 1% below its own fair value, and the market average says nothing about that. 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 Sanyang Motor Co Ltd (2206)?
The closing price on Nov 6, 2026 was 61.80 TWD. Our model-based fair value is 62.45 TWD, about +1% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Sanyang Motor Co Ltd right now?
The model range is unusually wide (35.23 TWD to 93.31 TWD). The outcome hinges heavily on assumptions, so read the point estimate with caution. The price sits close to our fair value, market and models broadly agree here, little valuation tension.
Key figures of Sanyang Motor Co Ltd
How large is the market capitalisation of Sanyang Motor Co Ltd (2206)?
The market capitalisation of Sanyang Motor Co Ltd is 47.3B TWD (≈ $1.4B). 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 Sanyang Motor Co Ltd (2206)?
The price-to-sales ratio of Sanyang Motor Co Ltd is 0.78 (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 Sanyang Motor Co Ltd (2206)?
Earnings per share at Sanyang Motor Co Ltd are 5.77 TWD (price ÷ EPS = P/E 10.7). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Sanyang Motor Co Ltd (2206)?
The dividend yield of Sanyang Motor Co Ltd is 4.9% (payout 53.0%). 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 Sanyang Motor Co Ltd (2206)?
The net margin of Sanyang Motor Co Ltd is 7.5% (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 Sanyang Motor Co Ltd (2206)?
The return on equity (ROE) of Sanyang Motor Co Ltd is 11.8% (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 Sanyang Motor Co Ltd (2206)?
On an EBIT basis the return on assets of Sanyang Motor Co Ltd is 7.4% (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 Sanyang Motor Co Ltd (2206)?
The operating margin of Sanyang Motor Co Ltd is 8.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Sanyang Motor Co Ltd (2206)?
Revenue at Sanyang Motor Co Ltd is growing −9.3% versus a year earlier (3y avg +7.2%). 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 Sanyang Motor Co Ltd (2206)?
Earnings per share at Sanyang Motor Co Ltd are growing +17.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Sanyang Motor Co Ltd (2206) carry?
The net debt of Sanyang Motor Co Ltd is 22.4B TWD (fiscal year 2025, ≈ 9.4 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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Broad data
Nov 3, 2026