Tze Shin International Co Ltd (2611) fair value: what the stock is really worth
As of Nov 9, 2026: fair value (intrinsic value) of Tze Shin International Co Ltd stock TWD 9.74, price TWD 15.40, that is 36.8% below the price, quality 49 out of 100. Rating: strongly overvalued. Calculated from audited financials with 13 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 6, 2026.
How to read this chart
60‑month range 12.05 TWD – 41.44 TWD · fair‑value band 8.22 TWD – 9.91 TWD · the 15.40 TWD price screens above the 9.74 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 6, 2026.
Follow Tze Shin International Co in your weekly email
Every Wednesday you see whether Tze Shin International Co is on track or worth a review, plus price against fair value. Free, up to 3 stocks.
We send you a confirmation link. Unsubscribe with one click.
Tze Shin International Co., Ltd. operates as a transportation company in Taiwan. The company offers transport services, such as container and truck transportation, terminal, petrochemical, damage goods transportation, and bulk logistics.
Show moreShow less
It is also involved in the development and planning for construction of factories, shopping malls, and residential buildings. The company was formerly known as Tze Shin Transportation & Terminal Co.Ltd and changed its name to Tze Shin International Co., Ltd. in July 2002.
Tze Shin International Co., Ltd. was founded in 1962 and is based in Taipei, Taiwan.
Stock analysis
Tze Shin International Co Ltd (2611) currently trades at 15.40 TWD, while our model-based Fair Value estimate is 9.74 TWD, 37% below the price, so the stock looks overvalued today.
Show more
Valuation
Bull case: the Dividend Discount group reads highest at a median of 13.50 TWD per share, and 1 of the 13 models we run sit above the 15.40 TWD price.
Bear case: the Earnings-Based group reads lowest at 3.12 TWD, and 12 of the 13 models stay below the price. Data coverage for this calculation is low.
Scenario range: 8.22 TWD (bear) to 9.91 TWD (bull), the price of 15.40 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 49/100 (below-average quality), in the Industrials sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Tze Shin International Co Ltd reported revenue of 672M TWD in FY2025 versus 792M TWD in FY2021, a compound −4.0%/yr. Reported net income was 98.6M TWD in FY2025, compounding −23.7%/yr from FY2021.
Key figures
Market cap 3.0B TWD (≈ $91.2M) Micro · P/E ratio 8.8 · P/S ratio 3.13 · EPS (TTM) 1.76 TWD · Dividend yield 3.4% · Net margin 35.0% · Return on equity 12.4% · Return on assets (EBIT) −0.8% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 46 out of 100 (low confidence).
What moves the price
The share trades about 10% below its 52-week high and 21% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Industrials peers we cover trades at 13% fair-value upside, at −37%, 2611 screens richer than that median.
Fair Value models
Bear8.22 TWDFair Value 9.74 TWDBull9.91 TWD
Price 15.40 TWD · Downside -36.8%
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 (1.06 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.26/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
−2.2%
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.
−2.7%
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.
+2.1%
Start year 2020 (pandemic). Over 10 years: −6.8% 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.
−5.5%
’14
’15
’16
’17
’18
’19
’20
’21
’22
’23
’24
’25
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. Basis: EBIT basis. 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.
−37.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year−41.2%
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.−22.0% vs 5.3%, slowing
Profit margin 2021 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.18% → 2%
Pace: the 5-year rate starts in 2020 (pandemic)
⚠ Revenue per share shrinking 7.5%/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.
Compare Tze Shin International Co Ltd with another stock
Price, fair value, quality and upside side by side.
Free, no sign-up
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.Marine Shipping · 220 stocks
Beats the industry median on 6/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score49 · Below median
Fair Value upside−36.8% · Bottom 25%
Profitability
Return on equity (12 months)12.4% · Above median
Return on assets2.5% · Below median
Net margin (12 months)35.0% · Top 25%
Operating margin (12 months)7.3% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY)58.1% · Top 25%
Dividend yield (12 months)3.4% · Above median
Balance sheet
Debt / equity0.08× · Lowest 25%
Valuation Multiplesvs Marine Shipping median · lower = cheaper
P/E (12 months)8.8× · Cheaper than median
P/B1.10× · Pricier than median
P/S (12 months)3.13× · Priciest 25%
EV/EBITDA28.4× · Priciest 25%
PEG2.57× · Pricier than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 45
FUTURE (revenue growth)100· sector 60
PAST (return on equity)50· sector 36
HEALTH (low debt)96· sector 89
DIVIDEND (yield)68· sector 61
VALUE 0: the price sits above our fair-value range.
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). "Tze Shin International Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/2611
Frequently asked questions
Is Tze Shin International Co Ltd (2611) overvalued or undervalued?
As of Nov 6, 2026, our model estimates a fair value of 9.74 TWD versus a price of 15.40 TWD, about 37% lower (overvalued).
What is the fair value of 2611?
Our model-based fair value for Tze Shin International Co Ltd is 9.74 TWD (as of Nov 6, 2026), built from audited fundamentals. The current price: 15.40 TWD.
What is the quality score of 2611?
Tze Shin International Co Ltd has a Quality Score of 49/100. 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 Tze Shin International Co Ltd (2611)?
Our model-based price target is the fair value of 9.74 TWD (as of Nov 6, 2026) from 13 valuation models. Cautious scenario 8.22 TWD, optimistic scenario 9.91 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Tze Shin International Co Ltd stock forecast for 2026?
Our models put fair value at 9.74 TWD, about 37% lower versus a price of 15.40 TWD (overvalued). Cautious scenario 8.22 TWD, optimistic scenario 9.91 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Tze Shin International Co Ltd (2611)?
Tze Shin International Co Ltd reported trailing-twelve-month revenue of about 957M TWD (latest available figure, as of Nov 6, 2026).
Does Tze Shin International Co Ltd pay a dividend?
Tze Shin International Co Ltd currently shows a dividend yield of 3.38% relative to its recent price (as of Nov 6, 2026).
How much is the dividend of Tze Shin International Co Ltd (2611) and when is the ex-dividend date?
Tze Shin International Co Ltd pays a dividend of 0.52 TWD per share a year, a dividend yield of 3.4%. The last ex-dividend date was Apr 1, 2026. The payout ratio is 29.5% 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 Tze Shin International Co Ltd (2611)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Tze Shin International Co Ltd it is 9.74 TWD per share (as of Nov 6, 2026), against a price of 15.40 TWD. It is the blended result of 13 valuation models in 7 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings).
Is Tze Shin International Co Ltd stock overvalued or undervalued in 2026?
As of Nov 6, 2026, 2611 trades above its calculated fair value: price 15.40 TWD, fair value 9.74 TWD, a gap of about −37% (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 2611?
No. The price is what the market pays today (15.40 TWD); the fair value is what the company's own numbers justify (9.74 TWD). For Tze Shin International Co Ltd the two are 5.66 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Tze Shin International Co Ltd worth?
The market values Tze Shin International Co Ltd at about 3.0B TWD (market capitalisation, as of Nov 6, 2026). Per share that is 15.40 TWD; our models calculate a fair value of 9.74 TWD per share.
What do the bullish and bearish scenarios say about 2611?
Our models span a range for Tze Shin International Co Ltd: cautious scenario 8.22 TWD, base 9.74 TWD, optimistic 9.91 TWD per share (as of Nov 6, 2026, price 15.40 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 2611?
Tze Shin International Co Ltd trades at a price-to-earnings ratio of 8.8 (as of Nov 6, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 9.74 TWD is built from several models across several years. Other multiples: PEG 2.6, P/B 1.1, P/S 3.1, EV/EBITDA 28.4.
What is the PEG ratio of 2611?
The PEG ratio of Tze Shin International Co Ltd is 2.57 (P/E divided by earnings growth, as of Nov 6, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Tze Shin International Co Ltd (2611)?
Balance-sheet figures for Tze Shin International Co Ltd (as of Nov 6, 2026): return on equity 12.4%, debt of 0.08 per unit of equity. They feed the Quality Score of 49/100, which measures business quality independently of the share price.
How far is 2611 from its 52-week high?
Tze Shin International Co Ltd trades at 15.40 TWD, about 10% below its 52-week high of 17.20 TWD and 21% above the low of 12.70 TWD (as of Nov 9, 2026). Distance from the high says nothing about value: that is what the fair value of 9.74 TWD is for.
Which stocks are comparable to Tze Shin International Co Ltd?
From the same area (Industrials) we also value Adani Ports and Special Economic Zone Limited, COSCO SHIPPING Holdings, Hapag-Lloyd Aktiengesellschaft,, Shanghai International Port (Group) 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 Tze Shin International Co Ltd stock attractive at the current price?
The data as of Nov 6, 2026: price 15.40 TWD, calculated fair value 9.74 TWD (−37%), Quality Score 49/100, from 13 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 2611 calculated?
We run Tze Shin International Co Ltd through 13 models from 7 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of 9.74 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. Tze Shin International 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 Tze Shin International Co Ltd (2611)?
The closing price on Nov 9, 2026 was 15.40 TWD. Our model-based fair value is 9.74 TWD, about 37% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Tze Shin International Co Ltd right now?
The price sits above even our optimistic bull case (9.91 TWD). The favourable scenario is already priced in. Weak quality (49/100) 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 Tze Shin International Co Ltd
How large is the market capitalisation of Tze Shin International Co Ltd (2611)?
The market capitalisation of Tze Shin International Co Ltd is 3.0B TWD (≈ $91.2M). 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 Tze Shin International Co Ltd (2611)?
The price-to-sales ratio of Tze Shin International Co Ltd is 3.13 (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 Tze Shin International Co Ltd (2611)?
Earnings per share at Tze Shin International Co Ltd are 1.76 TWD (price ÷ EPS = P/E 8.8). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Tze Shin International Co Ltd (2611)?
The dividend yield of Tze Shin International Co Ltd is 3.4% (payout 29.5%). 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 Tze Shin International Co Ltd (2611)?
The net margin of Tze Shin International Co Ltd is 35.0% (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 Tze Shin International Co Ltd (2611)?
The return on equity (ROE) of Tze Shin International Co Ltd is 12.4% (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 Tze Shin International Co Ltd (2611)?
On an EBIT basis the return on assets of Tze Shin International Co Ltd is −0.8% (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 Tze Shin International Co Ltd (2611)?
The operating margin of Tze Shin International Co Ltd is 7.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Tze Shin International Co Ltd (2611)?
Revenue at Tze Shin International Co Ltd is growing +58.1% versus a year earlier (3y avg −2.7%). 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 Tze Shin International Co Ltd (2611)?
Earnings per share at Tze Shin International Co Ltd are growing +287% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Tze Shin International Co Ltd (2611) generate?
The free cash flow of Tze Shin International Co Ltd is −144M 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 Tze Shin International Co Ltd (2611) carry?
The net debt of Tze Shin International Co Ltd is 364M 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.
Free · no account needed
Watch Tze Shin International Co Ltd in the live analysis
One click puts Tze Shin International Co Ltd on your watchlist: fair value and trend at a glance, plus comparison, the diversification check and the 27,000+ stock screener.
Thin data
Nov 6, 2026