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Data-driven stock valuation

Fortune Oriental Co Ltd (2491) fair value: what the stock is really worth

As of Nov 9, 2026: fair value (intrinsic value) of Fortune Oriental Co Ltd stock TWD 10.62, price TWD 33.50, that is 68.3% below the price, quality 40 out of 100. Rating: strongly overvalued. Calculated from audited financials with 8 of our 26 valuation models and 37 quality factors, updated daily.

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Consumer Cyclical TW · ISIN TW0002491008

FO Fortune Oriental Co Ltd logo Thin data Nov 8, 2026

Fortune Oriental Co Ltd

2491 · TW
Very expensive, weak quality

Our calculation puts a fair price 68% below what the stock costs today.

Highly profitable · 65.0% net margin (FY2025)
Low debt
Ranks above peers (8/10)
Costs just 1 times its yearly profit.
Quality 40/100
Wide moat 75/100 · thin data
Fair value 10.62 TWD · Strongly overvalued
Weak Growth (revenue 5y −14.8 %/yr in TWD)
Negative free cash flow
Thin data
⚠ Dilution
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What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

56.40 TWD 9.45 TWD Fair Value 10.62 TWD Jun 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 8, 2026.

How to read this chart

60‑month range 9.45 TWD – 56.40 TWD · fair‑value band 8.78 TWD – 13.54 TWD · the 33.50 TWD price screens above the 10.62 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 8, 2026.

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Company profile

Fortune Oriental Company Limited engages in the manufacture and sale of lighting related application products in Taiwan.

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It also offers memory products, such as DRAM module, DDR3, DDR3L, DDR4, EEPROM, and SPINOR flash; power related components, including PMIC, BUCK, LED driver, USB port management, protection, switch, reset, battery management, motor driver, and audio line driver products; MOSFET; ambient light, temperature and humidity, hall, position, and pressure sensors; and lithium battery related products.

In addition, it engages in the investment; estate development and leasing; and electric vehicle power system development businesses, as well as import and export trade of electronic products.

The company was formerly known as Infodisc Technology Co., Ltd. and changed its name to Fortune Oriental Company Limited in June 2016. Fortune Oriental Company Limited was founded in 1984 and is headquartered in New Taipei City, Taiwan.

Stock analysis

Fortune Oriental Co Ltd (2491) currently trades at 33.50 TWD, while our model-based Fair Value estimate is 10.62 TWD, 68% below the price, so the stock looks overvalued today.

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Valuation

Bull case: the Multiples group reads highest at a median of 39.92 TWD per share, and 2 of the 8 models we run sit above the 33.50 TWD price.

Bear case: the Asset-Based group reads lowest at 9.66 TWD, and 6 of the 8 models stay below the price. Data coverage for this calculation is low.

Scenario range: 8.78 TWD (bear) to 13.54 TWD (bull), the price of 33.50 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 40/100 (below-average 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.

Fortune Oriental Co Ltd reported revenue of 180M TWD in FY2025 versus 370M TWD in FY2021, a compound −16.5%/yr. Reported net income was 117M TWD in FY2025, compounding −1.6%/yr from FY2021.

Key figures

Market cap 3.5B TWD (≈ $107M) Micro · P/E ratio 1.0 · P/S ratio 0.68 · EPS (TTM) 31.99 TWD · Net margin 65.0% · Return on equity 106% · Return on assets (EBIT) −11.4% (5-year average) · Operating margin −204%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 75 out of 100 (low confidence).

What moves the price

The share trades about 41% below its 52-week high and 151% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Consumer Cyclical peers we cover trades at −24% fair-value upside, at −68%, 2491 screens richer than that median.

Fair Value models

Bear 8.78 TWD Fair Value 10.62 TWD Bull 13.54 TWD
Price 33.50 TWD · Downside -68.3%
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 (27.43 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.
Best data coverage
Owner Earnings 10.33 TWD 12.49 TWD 15.93 TWD 78
Residual Income 9.64 TWD 10.66 TWD 12.24 TWD 71
Graham-Dodd 9.69 TWD 11.85 TWD 13.33 TWD 67
All 8 models by family
DCF Models
Owner Earnings 10.33 TWD 12.49 TWD 15.93 TWD 78
Earnings-Based
Graham-Dodd 9.69 TWD 11.85 TWD 13.33 TWD 67
Multiples
P/E Multiple 29.94 TWD 39.92 TWD 49.90 TWD 63
P/S Multiple 9.05 TWD 12.06 TWD 15.08 TWD 58
P/B Multiple 50.74 TWD 67.66 TWD 84.57 TWD 55
Asset-Based
NCAV (Graham) 6.38 TWD 9.66 TWD 12.08 TWD 54
Economic Profit
Residual Income 9.64 TWD 10.66 TWD 12.24 TWD 71
Growth Earnings
Growth-Adj P/E 20.94 TWD 29.92 TWD 38.89 TWD 67

The fair value above starts from this blend and is adjusted for dilution from new shares.

Open the full fair value analysis →

Quality Score breakdown

Overall quality 40/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 41
How much profit the company makes from its sales and capital
Quality Growth 27
Are margins and returns getting better?
Cashflow 0
Do the profits arrive as real cash?
Financial strength 78
Debt, balance sheet and risk of trouble
Investment 80
Does it invest with discipline instead of growing at any price?
Low Volatility 35
How calm the share price moves, does not count
Price momentum 90
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 74
Distance to the 52-week high, does not count
New shares 0
Buys back shares or issues new ones?

Open the full quality analysis →

Revenue & earnings trend

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. 16/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−10.4%
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.
−14.8%
Start year 2020 (pandemic). Over 10 years: −7.6% a year
Revenue growth 23 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.
−15.1%
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.
−11.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year−11.5%
Dividend (yield on the price)0.0%
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.−11.5% vs −3.3%, 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.56% → −78%
Pace: the 5-year rate starts in 2020 (pandemic)
⚠ Revenue per share shrinking 13.6%/yr over ~10Y (margins eroding too) ⓘ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.

2491 screens overvalued: fair value 68% below the price. Compare with Midea Group →

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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.Furnishings, Fixtures & Appliances · 297 stocks

Beats the industry median on 7/9 measures
Overall it ranks above its industry peers.
Valuation
Quality Score 40 · Bottom 25%
Fair Value upside −68.3% · Bottom 25%
Profitability
Return on equity (12 months) 106.3% · Top 25%
Return on assets 7.0% · Top 25%
Net margin (12 months) 65.0% · Top 25%
Growth and dividend
Revenue growth (quarter YoY) 4.6% · Above median

Valuation Multiplesvs Furnishings, Fixtures & Appliances median · lower = cheaper

P/E (12 months) 1.0× · Cheapest 25%
P/B 0.12× · Cheapest 25%
P/S (12 months) 0.62× · Cheaper than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 28
FUTURE (revenue growth)23 · sector 7
PAST (return on equity)100 · sector 19
HEALTH (low debt)100 · sector 98
DIVIDEND (yield)0 · sector 61

VALUE 0: the price sits above our fair-value range.

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

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King Slide Works Co 2059 8,010 TWD 4,427 TWD −45% vs 2491
SharkNinja, Inc SN $222.95 $101.56 −54% vs 2491
Somnigroup International Inc SGI $64.17 $29.05 −55% vs 2491
Guangdong Songfa Ceramics Co 603268 ¥149.45 ¥31.45 −79% vs 2491

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Fortune Oriental Co Ltd: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "Fortune Oriental Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/2491

Frequently asked questions

Is Fortune Oriental Co Ltd (2491) overvalued or undervalued?
As of Nov 8, 2026, our model estimates a fair value of 10.62 TWD versus a price of 33.50 TWD, about 68% lower (overvalued).
What is the fair value of 2491?
Our model-based fair value for Fortune Oriental Co Ltd is 10.62 TWD (as of Nov 8, 2026), built from audited fundamentals. The current price: 33.50 TWD.
What is the quality score of 2491?
Fortune Oriental Co Ltd has a Quality Score of 40/100. 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 Fortune Oriental Co Ltd (2491)?
Our model-based price target is the fair value of 10.62 TWD (as of Nov 8, 2026) from 8 valuation models. Cautious scenario 8.78 TWD, optimistic scenario 13.54 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Fortune Oriental Co Ltd stock forecast for 2026?
Our models put fair value at 10.62 TWD, about 68% lower versus a price of 33.50 TWD (overvalued). Cautious scenario 8.78 TWD, optimistic scenario 13.54 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Fortune Oriental Co Ltd (2491)?
Fortune Oriental Co Ltd reported trailing-twelve-month revenue of about 174M TWD (latest available figure, as of Nov 8, 2026).
What is the intrinsic value of Fortune Oriental Co Ltd (2491)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Fortune Oriental Co Ltd it is 10.62 TWD per share (as of Nov 8, 2026), against a price of 33.50 TWD. It is the blended result of 8 valuation models in 6 families (DCF Models, Earnings-Based, Multiples, Asset-Based, Economic Profit, Growth Earnings).
Is Fortune Oriental Co Ltd stock overvalued or undervalued in 2026?
As of Nov 8, 2026, 2491 trades above its calculated fair value: price 33.50 TWD, fair value 10.62 TWD, a gap of about −68% (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 2491?
No. The price is what the market pays today (33.50 TWD); the fair value is what the company's own numbers justify (10.62 TWD). For Fortune Oriental Co Ltd the two are 22.88 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Fortune Oriental Co Ltd worth?
The market values Fortune Oriental Co Ltd at about 3.5B TWD (market capitalisation, as of Nov 8, 2026). Per share that is 33.50 TWD; our models calculate a fair value of 10.62 TWD per share.
What do the bullish and bearish scenarios say about 2491?
Our models span a range for Fortune Oriental Co Ltd: cautious scenario 8.78 TWD, base 10.62 TWD, optimistic 13.54 TWD per share (as of Nov 8, 2026, price 33.50 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 2491?
Fortune Oriental Co Ltd trades at a price-to-earnings ratio of 1.0 (as of Nov 8, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 10.62 TWD is built from several models across several years. Median P/E at fiscal year-end, 6 fiscal years (2017 to 2025), reported earnings: 13.7. Other multiples: P/B 0.1, P/S 0.6.
How solid is the balance sheet of Fortune Oriental Co Ltd (2491)?
Balance-sheet figures for Fortune Oriental Co Ltd (as of Nov 8, 2026): return on equity 106.3%. They feed the Quality Score of 40/100, which measures business quality independently of the share price.
How far is 2491 from its 52-week high?
Fortune Oriental Co Ltd trades at 33.50 TWD, about 41% below its 52-week high of 56.40 TWD and 151% above the low of 13.35 TWD (as of Nov 9, 2026). Distance from the high says nothing about value: that is what the fair value of 10.62 TWD is for.
Which stocks are comparable to Fortune Oriental Co Ltd?
From the same area (Consumer Cyclical) we also value Midea Group, Gree Electric Appliances, Inc, SharkNinja, Inc, Haier Smart Home Co, 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 Fortune Oriental Co Ltd stock attractive at the current price?
The data as of Nov 8, 2026: price 33.50 TWD, calculated fair value 10.62 TWD (−68%), Quality Score 40/100, from 8 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 2491 calculated?
We run Fortune Oriental Co Ltd through 8 models from 6 families: DCF Models, Earnings-Based, Multiples, Asset-Based, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of 10.62 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. Fortune Oriental Co Ltd 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 Fortune Oriental Co Ltd (2491)?
The closing price on Nov 9, 2026 was 33.50 TWD. Our model-based fair value is 10.62 TWD, about 68% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Fortune Oriental Co Ltd right now?
The price sits above even our optimistic bull case (13.54 TWD). The favourable scenario is already priced in. Weak quality (40/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.

Key figures of Fortune Oriental Co Ltd

How large is the market capitalisation of Fortune Oriental Co Ltd (2491)?
The market capitalisation of Fortune Oriental Co Ltd is 3.5B TWD (≈ $107M). 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 Fortune Oriental Co Ltd (2491)?
The price-to-sales ratio of Fortune Oriental Co Ltd is 0.68 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Fortune Oriental Co Ltd (2491)?
Earnings per share at Fortune Oriental Co Ltd are 31.99 TWD (price ÷ EPS = P/E 1.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Fortune Oriental Co Ltd (2491)?
The net margin of Fortune Oriental Co Ltd is 65.0% (fiscal year 2025). 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 Fortune Oriental Co Ltd (2491)?
The return on equity (ROE) of Fortune Oriental Co Ltd is 106% (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 Fortune Oriental Co Ltd (2491)?
On an EBIT basis the return on assets of Fortune Oriental Co Ltd is −11.4% (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 Fortune Oriental Co Ltd (2491)?
The operating margin of Fortune Oriental Co Ltd is −204% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Fortune Oriental Co Ltd (2491)?
Revenue at Fortune Oriental Co Ltd is growing +4.6% versus a year earlier. 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 Fortune Oriental Co Ltd (2491)?
Earnings per share at Fortune Oriental Co Ltd are growing +50.1% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Fortune Oriental Co Ltd (2491) generate?
The free cash flow of Fortune Oriental Co Ltd is −90.0M TWD (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does Fortune Oriental Co Ltd (2491) hold?
Fortune Oriental Co Ltd holds more cash than debt, 84.5M TWD net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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