Eslite Spectrum (2926) fair value: what the stock is really worth
As of Nov 9, 2026: fair value (intrinsic value) of Eslite Spectrum stock TWD 46.81, price TWD 29.65, upside +57.9%, quality 50 out of 100. Rating: strongly undervalued. Calculated from audited financials with 23 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 9, 2026.
How to read this chart
60‑month range 29.55 TWD – 68.19 TWD · fair‑value band 35.10 TWD – 58.51 TWD · the 29.65 TWD price screens below the 46.81 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 9, 2026.
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Eslite Spectrum Corporation, together with its subsidiaries, operates department stores in Taiwan, Hong Kong, China, Japan, and Malaysia. It operates through Omni-Channel Development Business, Hospitality Business, Hotel Business, and Other segments.
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The company also provides management counseling, hotel management, logistics and warehousing, engineering, and cultural and creative industry agency services.
In addition, it engages in trading and import of appliances and equipment for hotel and kitchen use; import agency and retail of foods; the operation of cafes and restaurants; sale and installation of equipment; and online retail activities.
The company was incorporated in 2005 and is based in Taipei, Taiwan. Eslite Spectrum Corporation is a subsidiary of The Eslite Corporation.
Stock analysis
Eslite Spectrum (2926) currently trades at 29.65 TWD, while our model-based Fair Value estimate is 46.81 TWD, implying the stock looks roughly 37% undervalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of 381.01 TWD per share, and 13 of the 23 models we run sit above the 29.65 TWD price.
Bear case: the Asset-Based group reads lowest at 7.92 TWD, and 10 of the 23 models stay below the price. Data coverage for this calculation is low.
Scenario range: 35.10 TWD (bear) to 58.51 TWD (bull), the price of 29.65 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 50/100 (solid quality), in the Consumer Cyclical sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Eslite Spectrum reported revenue of 7.0B TWD in FY2025 versus 4.7B TWD in FY2021, a compound +10.5%/yr. Reported net income was 25.6M TWD in FY2025.
Key figures
Market cap 1.4B TWD (≈ $42.8M) Micro · P/E ratio 47.1 · P/S ratio 0.20 · EPS (TTM) 0.6300 TWD · Dividend yield 1.6% · Net margin 0.4% · Return on equity 4.9% · Return on assets (EBIT) −0.4% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 22 out of 100 (medium confidence).
What moves the price
The share trades about 27% below its 52-week high and at its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at 8% fair-value upside, at 58%, 2926 screens cheaper than that median.
Fair Value models
Bear35.10 TWDFair Value 46.81 TWDBull58.51 TWD
Price 29.65 TWD · Upside +57.9%
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 (0.1458 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.78/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+1.8%
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.
+7.7%
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.
+8.9%
Start year 2020 (pandemic). Over 10 years: +6.2% a year
Revenue growth 10 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.
+6.2%
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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.
−27.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year−29.2%
Dividend (yield on the price)1.6%
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% → 0%
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.Department Stores · 105 stocks
Beats the industry median on 5/14 measures
Overall it trails its industry peers.
Valuation
Quality Score50 · Below median
Fair Value upside+57.9% · Above median
Profitability
Return on equity (12 months)4.9% · Below median
Return on assets0.2% · Below median
Net margin (12 months)0.4% · Below median
Operating margin (12 months)−2.3% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY)6.4% · Above median
Dividend yield (12 months)1.6% · Below median
Balance sheet
Debt / equity3.05× · Highest 25%
Valuation Multiplesvs Department Stores 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). "Eslite Spectrum Fair Value". https://www.fairvalue-calculator.com/stock/2926
Frequently asked questions
Is Eslite Spectrum (2926) overvalued or undervalued?
As of Nov 9, 2026, our model estimates a fair value of 46.81 TWD versus a price of 29.65 TWD, about +58% upside (undervalued).
What is the fair value of 2926?
Our model-based fair value for Eslite Spectrum is 46.81 TWD (as of Nov 9, 2026), built from audited fundamentals. The current price: 29.65 TWD.
What is the quality score of 2926?
Eslite Spectrum has a Quality Score of 50/100. 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 Eslite Spectrum (2926)?
Our model-based price target is the fair value of 46.81 TWD (as of Nov 9, 2026) from 23 valuation models. Cautious scenario 35.10 TWD, optimistic scenario 58.51 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Eslite Spectrum stock forecast for 2026?
Our models put fair value at 46.81 TWD, about +58% upside versus a price of 29.65 TWD (undervalued). Cautious scenario 35.10 TWD, optimistic scenario 58.51 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Eslite Spectrum (2926)?
Eslite Spectrum reported trailing-twelve-month revenue of about 7.2B TWD (latest available figure, as of Nov 9, 2026).
Does Eslite Spectrum pay a dividend?
Eslite Spectrum currently shows a dividend yield of 1.55% relative to its recent price (as of Nov 9, 2026).
How much is the dividend of Eslite Spectrum (2926) and when is the ex-dividend date?
Eslite Spectrum pays a dividend of 0.46 TWD per share a year, a dividend yield of 1.6%. The last ex-dividend date was Jun 17, 2026. The payout ratio is 73.0% of earnings. Free cash flow covers the dividend 58.01 times. Our assessment: Sustainable. Payout and cash coverage both look sustainable.
What is the intrinsic value of Eslite Spectrum (2926)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Eslite Spectrum it is 46.81 TWD per share (as of Nov 9, 2026), against a price of 29.65 TWD. It is the blended result of 23 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Eslite Spectrum stock overvalued or undervalued in 2026?
As of Nov 9, 2026, 2926 trades below its calculated fair value: price 29.65 TWD, fair value 46.81 TWD, a gap of about +58% (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 2926?
No. The price is what the market pays today (29.65 TWD); the fair value is what the company's own numbers justify (46.81 TWD). For Eslite Spectrum the two are 17.16 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Eslite Spectrum worth?
The market values Eslite Spectrum at about 1.4B TWD (market capitalisation, as of Nov 9, 2026). Per share that is 29.65 TWD; our models calculate a fair value of 46.81 TWD per share.
What do the bullish and bearish scenarios say about 2926?
Our models span a range for Eslite Spectrum: cautious scenario 35.10 TWD, base 46.81 TWD, optimistic 58.51 TWD per share (as of Nov 9, 2026, price 29.65 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 2926?
Eslite Spectrum trades at a price-to-earnings ratio of 47.1 (as of Nov 9, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 46.81 TWD is built from several models across several years. Median P/E at fiscal year-end, 6 fiscal years (2017 to 2025), reported earnings: 45.9. Other multiples: P/B 2.3, P/S 0.2, EV/EBITDA 6.6.
How solid is the balance sheet of Eslite Spectrum (2926)?
Balance-sheet figures for Eslite Spectrum (as of Nov 9, 2026): return on equity 4.9%, debt of 3.05 per unit of equity. They feed the Quality Score of 50/100, which measures business quality independently of the share price.
How far is 2926 from its 52-week high?
Eslite Spectrum trades at 29.65 TWD, about 27% below its 52-week high of 40.86 TWD and at the low of 29.55 TWD (as of Nov 9, 2026). Distance from the high says nothing about value: that is what the fair value of 46.81 TWD is for.
Which stocks are comparable to Eslite Spectrum?
From the same area (Consumer Cyclical) we also value Falabella S.A, Dillard's, Inc, 99 Speed Mart Retail Holdings, Macy's, 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 Eslite Spectrum stock attractive at the current price?
The data as of Nov 9, 2026: price 29.65 TWD, calculated fair value 46.81 TWD (+58%), Quality Score 50/100, from 23 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 2926 calculated?
We run Eslite Spectrum through 23 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 46.81 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. Eslite Spectrum currently trades 37% 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 Eslite Spectrum (2926)?
The closing price on Nov 9, 2026 was 29.65 TWD. Our model-based fair value is 46.81 TWD, about +58% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Eslite Spectrum right now?
The price is below even our cautious bear case (35.10 TWD). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid quality (50/100) at a price below fair value, the discount is the argument here, not the business quality.
Key figures of Eslite Spectrum
How large is the market capitalisation of Eslite Spectrum (2926)?
The market capitalisation of Eslite Spectrum is 1.4B TWD (≈ $42.8M). 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 Eslite Spectrum (2926)?
The price-to-sales ratio of Eslite Spectrum is 0.20 (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 Eslite Spectrum (2926)?
Earnings per share at Eslite Spectrum are 0.6300 TWD (price ÷ EPS = P/E 47.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Eslite Spectrum (2926)?
The dividend yield of Eslite Spectrum is 1.6% (payout 73.0%). 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 Eslite Spectrum (2926)?
The net margin of Eslite Spectrum is 0.4% (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 Eslite Spectrum (2926)?
The return on equity (ROE) of Eslite Spectrum is 4.9% (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 Eslite Spectrum (2926)?
On an EBIT basis the return on assets of Eslite Spectrum is −0.4% (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 Eslite Spectrum (2926)?
The operating margin of Eslite Spectrum is −2.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Eslite Spectrum (2926)?
Revenue at Eslite Spectrum is growing +6.4% versus a year earlier (3y avg +7.7%). 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 Eslite Spectrum (2926)?
Earnings per share at Eslite Spectrum are growing +118% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Eslite Spectrum (2926) generate?
The free cash flow of Eslite Spectrum is 1.3B 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 Eslite Spectrum (2926) carry?
The net debt of Eslite Spectrum is 872M TWD (fiscal year 2025, ≈ 0.7 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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Nov 9, 2026