Haiwan International Development Co Ltd (3252) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Haiwan International Development Co Ltd stock TWD 2.97, price TWD 14.65, that is 79.7% below the price, quality 48 out of 100. Rating: strongly overvalued. Calculated from audited financials with 14 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 14.60 TWD – 27.30 TWD · fair‑value band 2.15 TWD – 7.83 TWD · the 14.65 TWD price screens above the 2.97 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 7, 2026.
Follow Haiwan International Development Co in your weekly email
Every Wednesday you see whether Haiwan International Development 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.
Haiwan International Development Co., Ltd engages in the residential building development business in Taiwan. It engages in land development and real estate trading business; parking lot rental business; and provides hotel and restaurant services and catering services, and labor services.
Show moreShow less
The company was formerly known as Haewan International Development Co., Ltd and changed its name to Haiwan International Development Co., Ltd. in 2014. Haiwan International Development Co., Ltd was founded in 1983 and is based in Taichung, Taiwan.
Stock analysis
Haiwan International Development Co Ltd (3252) currently trades at 14.65 TWD, while our model-based Fair Value estimate is 2.97 TWD, 80% below the price, so the stock looks overvalued today.
Show more
Valuation
Bull case: the Economic Profit group reads highest at a median of 23.00 TWD per share, and 2 of the 11 models we run sit above the 14.65 TWD price.
Bear case: the Earnings-Based group reads lowest at 1.51 TWD, and 9 of the 11 models stay below the price. Data coverage for this calculation is low.
Scenario range: 2.15 TWD (bear) to 7.83 TWD (bull), the price of 14.65 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 48/100 (below-average quality), in the Consumer Cyclical sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Haiwan International Development Co Ltd reported revenue of 496M TWD in FY2025 versus 446M TWD in FY2021, a compound +2.7%/yr. Reported net income was 6.5M TWD in FY2025, compounding −34.6%/yr from FY2021.
Key figures
Market cap 735M TWD (≈ $22.4M) Micro · P/S ratio 1.47 · EPS (TTM) −0.0600 TWD · Net margin −0.6% · Return on equity 0.7% · Return on assets (EBIT) 1.6% (5-year average) · Operating margin 6.4% · Revenue (TTM) 500M TWD.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 23 out of 100 (medium confidence).
What moves the price
The share trades about 28% 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 34% fair-value upside, at −80%, 3252 screens richer than that median.
Fair Value models
The price assumes far more growth than our models allow for, so the models scatter widely (1.06 TWD to 23.00 TWD). Read the Fair Value as a cautious anchor, not a price target; the Growth Forecast section shows what the price assumes.
Bear2.15 TWDFair Value 2.97 TWDBull7.83 TWD
Price 14.65 TWD · Downside -79.7%
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.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.40/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
−3.7%
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.
−4.8%
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.
+11.9%
Start year 2020 (pandemic)
Revenue growth 8 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.
+4.2%
’17
’18
’19
’20
’21
’22
’23
’24
’25
What shareholders gained per year (last 5 years), in TWD (mathematically smoothed) ⓘ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. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip. 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.
−71.0%
Earnings growth per share plus dividend.
Earnings per share, growth per year−71.0%
Dividend (yield on the price)0.0%
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.−20% → 16%
2025 sits 156% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
⚠ Revenue per share shrinking 1.1%/yr over ~6Y (margins intact) ⓘ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.
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).
+43.3%
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 +41.0% a year for the price.
Compare Haiwan International Development 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.Resorts & Casinos · 62 stocks
Beats the industry median on 1/12 measures
Overall it trails its industry peers.
Valuation
Quality Score48 · Below median
Fair Value upside−79.7% · Bottom 25%
Profitability
Return on equity (12 months)0.7% · Below median
Return on assets0.2% · Bottom 25%
Net margin (12 months)−0.6% · Below median
Operating margin (12 months)6.4% · Below median
Growth and dividend
Revenue growth (quarter YoY)−4.2% · Below median
Balance sheet
Debt / equity0.57× · Above median
Valuation Multiplesvs Resorts & Casinos 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). "Haiwan International Development Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/3252
Frequently asked questions
Is Haiwan International Development Co Ltd (3252) overvalued or undervalued?
As of Nov 7, 2026, our model estimates a fair value of 2.97 TWD versus a price of 14.65 TWD, about 80% lower (overvalued).
What is the fair value of 3252?
Our model-based fair value for Haiwan International Development Co Ltd is 2.97 TWD (as of Nov 7, 2026), built from audited fundamentals. The current price: 14.65 TWD.
What is the quality score of 3252?
Haiwan International Development Co Ltd has a Quality Score of 48/100. 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 Haiwan International Development Co Ltd (3252)?
Our model-based price target is the fair value of 2.97 TWD (as of Nov 7, 2026) from 14 valuation models. Cautious scenario 2.15 TWD, optimistic scenario 7.83 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Haiwan International Development Co Ltd stock forecast for 2026?
Our models put fair value at 2.97 TWD, about 80% lower versus a price of 14.65 TWD (overvalued). Cautious scenario 2.15 TWD, optimistic scenario 7.83 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Haiwan International Development Co Ltd (3252)?
Haiwan International Development Co Ltd reported trailing-twelve-month revenue of about 500M TWD (latest available figure, as of Nov 7, 2026).
What growth is priced into Haiwan International Development Co Ltd (3252)?
For today's price to be fair in a discounted-cash-flow model, Haiwan International Development Co Ltd would have to grow free cash flow by +43.3 % per year for five years (discount rate 10.3 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +11.9 % per year. As of Nov 7, 2026.
What discount rate (WACC) does the fair value of 3252 use?
Our models discount Haiwan International Development Co Ltd at 10.3 %: a base by market capitalisation (nano), 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 Haiwan International Development Co Ltd that is +43.3 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (10.3 %) and the same formula as our fair value.
How much growth has Haiwan International Development Co Ltd (3252) delivered so far?
Over the past 5 years revenue at Haiwan International Development Co Ltd grew +11.9 % a year. The price currently implies free-cash-flow growth of +43.3 % 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 Haiwan International Development Co Ltd (3252) growing?
The median revenue growth in the sector is +4.7 % a year. That is the yardstick for the growth priced into Haiwan International Development Co Ltd (+43.3 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Haiwan International Development Co Ltd (3252)?
The free-cash-flow yield on the price is 2.63 %: that much free cash flow Haiwan International Development Co Ltd produces per unit of market value. When it exceeds the discount rate of our models (10.3 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Haiwan International Development Co Ltd (3252)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Haiwan International Development Co Ltd it is 2.97 TWD per share (as of Nov 7, 2026), against a price of 14.65 TWD. It is the blended result of 14 valuation models in 7 families (DCF Models, Earnings-Based, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Haiwan International Development Co Ltd stock overvalued or undervalued in 2026?
As of Nov 7, 2026, 3252 trades above its calculated fair value: price 14.65 TWD, fair value 2.97 TWD, a gap of about −80% (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 3252?
No. The price is what the market pays today (14.65 TWD); the fair value is what the company's own numbers justify (2.97 TWD). For Haiwan International Development Co Ltd the two are 11.68 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Haiwan International Development Co Ltd worth?
The market values Haiwan International Development Co Ltd at about 735M TWD (market capitalisation, as of Nov 7, 2026). Per share that is 14.65 TWD; our models calculate a fair value of 2.97 TWD per share.
What do the bullish and bearish scenarios say about 3252?
Our models span a range for Haiwan International Development Co Ltd: cautious scenario 2.15 TWD, base 2.97 TWD, optimistic 7.83 TWD per share (as of Nov 7, 2026, price 14.65 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Haiwan International Development Co Ltd (3252)?
Balance-sheet figures for Haiwan International Development Co Ltd (as of Nov 7, 2026): return on equity 0.7%, debt of 0.57 per unit of equity. They feed the Quality Score of 48/100, which measures business quality independently of the share price.
How far is 3252 from its 52-week high?
Haiwan International Development Co Ltd trades at 14.65 TWD, about 28% below its 52-week high of 20.40 TWD and at the low of 14.60 TWD (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 2.97 TWD is for.
Which stocks are comparable to Haiwan International Development Co Ltd?
From the same area (Consumer Cyclical) we also value Las Vegas Sands Corp, Galaxy Entertainment Group, Sands China Ltd, Wynn Resorts, Limited, 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 Haiwan International Development Co Ltd stock attractive at the current price?
The data as of Nov 7, 2026: price 14.65 TWD, calculated fair value 2.97 TWD (−80%), Quality Score 48/100, from 14 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 3252 calculated?
We run Haiwan International Development Co Ltd through 14 models from 7 families: DCF Models, Earnings-Based, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of 2.97 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. Haiwan International Development 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 Haiwan International Development Co Ltd (3252)?
The closing price on Nov 6, 2026 was 14.65 TWD. Our model-based fair value is 2.97 TWD, about 80% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Haiwan International Development Co Ltd right now?
The price sits above even our optimistic bull case (7.83 TWD). The favourable scenario is already priced in. Weak quality (48/100) and above fair value at the same time, the margin of safety is missing on both counts. The model range is unusually wide (2.15 TWD to 7.83 TWD). The outcome hinges heavily on assumptions, so read the point estimate with caution. 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 Haiwan International Development Co Ltd
How large is the market capitalisation of Haiwan International Development Co Ltd (3252)?
The market capitalisation of Haiwan International Development Co Ltd is 735M TWD (≈ $22.4M). 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 Haiwan International Development Co Ltd (3252)?
The price-to-sales ratio of Haiwan International Development Co Ltd is 1.47 (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 Haiwan International Development Co Ltd (3252)?
Earnings per share at Haiwan International Development Co Ltd are −0.0600 TWD. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Haiwan International Development Co Ltd (3252)?
The net margin of Haiwan International Development Co Ltd is −0.6% (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 Haiwan International Development Co Ltd (3252)?
The return on equity (ROE) of Haiwan International Development Co Ltd is 0.7% (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 Haiwan International Development Co Ltd (3252)?
On an EBIT basis the return on assets of Haiwan International Development Co Ltd is 1.6% (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 Haiwan International Development Co Ltd (3252)?
The operating margin of Haiwan International Development Co Ltd is 6.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Haiwan International Development Co Ltd (3252)?
Revenue at Haiwan International Development Co Ltd is growing −4.2% versus a year earlier (3y avg −4.8%). 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 Haiwan International Development Co Ltd (3252)?
Earnings per share at Haiwan International Development Co Ltd are growing +19.7% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Haiwan International Development Co Ltd (3252) carry?
The net debt of Haiwan International Development Co Ltd is 1.2B TWD (fiscal year 2025, ≈ 64.6 yrs of FCF). 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 Haiwan International Development Co Ltd in the live analysis
One click puts Haiwan International Development 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 7, 2026