Hwang Chang General Contractor Co Ltd (2543) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Hwang Chang General Contractor Co Ltd stock TWD 43.75, price TWD 30.05, upside +45.6%, quality 28 out of 100. Rating: undervalued. Calculated from audited financials with 16 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 7, 2026.
How to read this chart
60‑month range 4.51 TWD – 112.00 TWD · fair‑value band 30.63 TWD – 56.88 TWD · the 30.05 TWD price screens below the 43.75 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 7, 2026.
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Hwang Chang General Contractor Co., Ltd engages in the contracting business of civil engineering projects in Taiwan. The company manufactures and sells ready-mixed concrete. It also engages in earth retaining support and earthwork professional construction industry business.
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In addition, the company engages in marine engineering and MRT projects. Hwang Chang General Contractor Co., Ltd was founded in 1981 and is based in Taipei, Taiwan.
Stock analysis
Hwang Chang General Contractor Co Ltd (2543) currently trades at 30.05 TWD, while our model-based Fair Value estimate is 43.75 TWD, implying the stock looks roughly 31% undervalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of 54.60 TWD per share, and 8 of the 16 models we run sit above the 30.05 TWD price.
Bear case: the Dividend Discount group reads lowest at 11.43 TWD, and 8 of the 16 models stay below the price. Data coverage for this calculation is low.
Scenario range: 30.63 TWD (bear) to 56.88 TWD (bull), the price of 30.05 TWD sits below 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 28/100 (below-average quality), in the Industrials sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Hwang Chang General Contractor Co Ltd reported revenue of 11.8B TWD in FY2025 versus 8.0B TWD in FY2021, a compound +10.3%/yr. Reported net income was 1.4B TWD in FY2025, compounding +39.9%/yr from FY2021.
Key figures
Market cap 15.5B TWD (≈ $472M) Small · P/E ratio 10.7 · P/S ratio 1.06 · EPS (TTM) 2.80 TWD · Dividend yield 3.4% · Net margin 10.2% · Return on equity 15.6% · Return on assets (EBIT) 7.2% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 54 out of 100 (low confidence).
What moves the price
The share trades about 62% below its 52-week high and at its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −42% fair-value upside, at 46%, 2543 screens cheaper than that median.
Fair Value models
Bear30.63 TWDFair Value 43.75 TWDBull56.88 TWD
Price 30.05 TWD · Upside +45.6%
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 (1.51 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.54/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
−4.8%
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.
+11.9%
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.
+13.1%
Start year 2020 (pandemic). Over 10 years: +8.0% 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.
+4.8%
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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.
+28.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year+24.9%
Dividend (yield on the price)3.4%
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.24.9% vs 18.2%, 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.1% → 15%
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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.Engineering & Construction · 791 stocks
Beats the industry median on 9/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score28 · Bottom 25%
Fair Value upside+45.6% · Above median
Profitability
Return on equity (12 months)15.6% · Top 25%
Return on assets6.9% · Top 25%
Net margin (12 months)10.2% · Top 25%
Operating margin (12 months)14.3% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)85.5% · Top 25%
Dividend yield (12 months)3.4% · Above median
Balance sheet
Debt / equity0.14× · Above median
Valuation Multiplesvs Engineering & Construction median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Hwang Chang General Contractor Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/2543
Frequently asked questions
Is Hwang Chang General Contractor Co Ltd (2543) overvalued or undervalued?
As of Nov 7, 2026, our model estimates a fair value of 43.75 TWD versus a price of 30.05 TWD, about +46% upside (undervalued).
What is the fair value of 2543?
Our model-based fair value for Hwang Chang General Contractor Co Ltd is 43.75 TWD (as of Nov 7, 2026), built from audited fundamentals. The current price: 30.05 TWD.
What is the quality score of 2543?
Hwang Chang General Contractor Co Ltd has a Quality Score of 28/100. 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 Hwang Chang General Contractor Co Ltd (2543)?
Our model-based price target is the fair value of 43.75 TWD (as of Nov 7, 2026) from 16 valuation models. Cautious scenario 30.63 TWD, optimistic scenario 56.88 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Hwang Chang General Contractor Co Ltd stock forecast for 2026?
Our models put fair value at 43.75 TWD, about +46% upside versus a price of 30.05 TWD (undervalued). Cautious scenario 30.63 TWD, optimistic scenario 56.88 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Hwang Chang General Contractor Co Ltd (2543)?
Hwang Chang General Contractor Co Ltd reported trailing-twelve-month revenue of about 14.6B TWD (latest available figure, as of Nov 7, 2026).
Does Hwang Chang General Contractor Co Ltd pay a dividend?
Hwang Chang General Contractor Co Ltd currently shows a dividend yield of 3.42% relative to its recent price (as of Nov 7, 2026).
How much is the dividend of Hwang Chang General Contractor Co Ltd (2543) and when is the ex-dividend date?
Hwang Chang General Contractor Co Ltd pays a dividend of 1.03 TWD per share a year, a dividend yield of 3.4%. The last ex-dividend date was Aug 4, 2026. The payout ratio is 36.7% of earnings. 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 is the intrinsic value of Hwang Chang General Contractor Co Ltd (2543)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Hwang Chang General Contractor Co Ltd it is 43.75 TWD per share (as of Nov 7, 2026), against a price of 30.05 TWD. It is the blended result of 16 valuation models in 6 families (Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings).
Is Hwang Chang General Contractor Co Ltd stock overvalued or undervalued in 2026?
As of Nov 7, 2026, 2543 trades below its calculated fair value: price 30.05 TWD, fair value 43.75 TWD, a gap of about +46% (undervalued). 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 2543?
No. The price is what the market pays today (30.05 TWD); the fair value is what the company's own numbers justify (43.75 TWD). For Hwang Chang General Contractor Co Ltd the two are 13.70 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Hwang Chang General Contractor Co Ltd worth?
The market values Hwang Chang General Contractor Co Ltd at about 15.5B TWD (market capitalisation, as of Nov 7, 2026). Per share that is 30.05 TWD; our models calculate a fair value of 43.75 TWD per share.
What do the bullish and bearish scenarios say about 2543?
Our models span a range for Hwang Chang General Contractor Co Ltd: cautious scenario 30.63 TWD, base 43.75 TWD, optimistic 56.88 TWD per share (as of Nov 7, 2026, price 30.05 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 2543?
Hwang Chang General Contractor Co Ltd trades at a price-to-earnings ratio of 10.7 (as of Nov 7, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 43.75 TWD is built from several models across several years. Other multiples: P/B 1.6, P/S 1.1, EV/EBITDA 5.5.
How solid is the balance sheet of Hwang Chang General Contractor Co Ltd (2543)?
Balance-sheet figures for Hwang Chang General Contractor Co Ltd (as of Nov 7, 2026): return on equity 15.6%, debt of 0.14 per unit of equity. They feed the Quality Score of 28/100, which measures business quality independently of the share price.
How far is 2543 from its 52-week high?
Hwang Chang General Contractor Co Ltd trades at 30.05 TWD, about 62% below its 52-week high of 78.40 TWD and at the low of 30.05 TWD (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 43.75 TWD is for.
Which stocks are comparable to Hwang Chang General Contractor Co Ltd?
From the same area (Industrials) we also value Quanta Services, Inc, Vinci SA, Larsen & Toubro Limited, Comfort Systems USA, Inc, 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 Hwang Chang General Contractor Co Ltd stock attractive at the current price?
The data as of Nov 7, 2026: price 30.05 TWD, calculated fair value 43.75 TWD (+46%), Quality Score 28/100, from 16 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 2543 calculated?
We run Hwang Chang General Contractor Co Ltd through 16 models from 6 families: Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of 43.75 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. Hwang Chang General Contractor Co Ltd currently trades 31% 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 Hwang Chang General Contractor Co Ltd (2543)?
The closing price on Nov 6, 2026 was 30.05 TWD. Our model-based fair value is 43.75 TWD, about +46% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Hwang Chang General Contractor Co Ltd right now?
The large discount to fair value meets weak quality (28/100). That raises the risk this is a value trap rather than a bargain. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. A fairly wide model range (30.63 TWD to 56.88 TWD) leaves room in how you read the outcome.
Where does the earnings growth of Hwang Chang General Contractor Co Ltd (2543) come from?
Earnings per share at Hwang Chang General Contractor Co Ltd grew +18.3 % a year from 2014 to 2025. Broken into its drivers: revenue per share +3.6 %, EBIT margin +21.5 %, tax rate −0.9 %, residual (interest, one-offs) −5.2 %. 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 Hwang Chang General Contractor Co Ltd
How large is the market capitalisation of Hwang Chang General Contractor Co Ltd (2543)?
The market capitalisation of Hwang Chang General Contractor Co Ltd is 15.5B TWD (≈ $472M). 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 Hwang Chang General Contractor Co Ltd (2543)?
The price-to-sales ratio of Hwang Chang General Contractor Co Ltd is 1.06 (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 Hwang Chang General Contractor Co Ltd (2543)?
Earnings per share at Hwang Chang General Contractor Co Ltd are 2.80 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 Hwang Chang General Contractor Co Ltd (2543)?
The dividend yield of Hwang Chang General Contractor Co Ltd is 3.4% (payout 36.7%). 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 Hwang Chang General Contractor Co Ltd (2543)?
The net margin of Hwang Chang General Contractor Co Ltd is 10.2% (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 Hwang Chang General Contractor Co Ltd (2543)?
The return on equity (ROE) of Hwang Chang General Contractor Co Ltd is 15.6% (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 Hwang Chang General Contractor Co Ltd (2543)?
On an EBIT basis the return on assets of Hwang Chang General Contractor Co Ltd is 7.2% (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 Hwang Chang General Contractor Co Ltd (2543)?
The operating margin of Hwang Chang General Contractor Co Ltd is 14.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Hwang Chang General Contractor Co Ltd (2543)?
Revenue at Hwang Chang General Contractor Co Ltd is growing +85.5% versus a year earlier (3y avg +11.9%). 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 Hwang Chang General Contractor Co Ltd (2543)?
Earnings per share at Hwang Chang General Contractor Co Ltd are growing +55.1% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Hwang Chang General Contractor Co Ltd (2543) generate?
The free cash flow of Hwang Chang General Contractor Co Ltd is −2.9B 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 debt does Hwang Chang General Contractor Co Ltd (2543) carry?
The net debt of Hwang Chang General Contractor Co Ltd is 3.0B TWD (fiscal year 2025). 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 7, 2026