Huang Long Development Co Ltd (3512) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Huang Long Development Co Ltd stock TWD 19.46, price TWD 17.75, upside +9.6%, quality 54 out of 100. Rating: fairly valued. 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 9, 2026.
How to read this chart
60‑month range 17.75 TWD – 47.55 TWD · fair‑value band 14.03 TWD – 24.32 TWD · the 17.75 TWD price screens below the 19.46 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 9, 2026.
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Huang Long Development Co.,Ltd. produces and sells of electronic components and heatsinks in Taiwan, Mainland China, and internationally. It develops, leases, and sells office and residential buildings, and trades in real estate, as well as engages in the investment activities.
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The company was formerly known as Neng Tyi Precision Industries Co., Ltd. and changed its name to Huang Long Development Co.,Ltd. in June 2018. Huang Long Development Co.,Ltd. was founded in 1981 and is based in Taipei City, Taiwan.
Stock analysis
Huang Long Development Co Ltd (3512) currently trades at 17.75 TWD, while our model-based Fair Value estimate is 19.46 TWD, so the stock looks roughly fairly valued today (gap 8.8%).
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Valuation
Bull case: the Multiples group reads highest at a median of 38.25 TWD per share, and 12 of the 16 models we run sit above the 17.75 TWD price.
Bear case: the Dividend Discount group reads lowest at 12.64 TWD, and 4 of the 16 models stay below the price. Data coverage for this calculation is low.
Scenario range: 14.03 TWD (bear) to 24.32 TWD (bull), the price of 17.75 TWD sits inside 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 54/100 (solid quality), in the Real Estate sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Huang Long Development Co Ltd reported revenue of 1.4B TWD in FY2025 versus 2.2B TWD in FY2021, a compound −10.3%/yr. Reported net income was 268M TWD in FY2025, compounding −4.2%/yr from FY2021.
Key figures
Market cap 2.0B TWD (≈ $61.1M) Micro · P/E ratio 9.2 · P/S ratio 2.12 · EPS (TTM) 1.92 TWD · Dividend yield 10.1% · Net margin 22.6% · Return on equity 8.6% · Return on assets (EBIT) 6.8% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (medium confidence).
What moves the price
The share trades about 20% below its 52-week high and at its 52-week low, currently below its 200-day average.
For context, the median of 10 Real Estate peers we cover trades at −16% fair-value upside, at 10%, 3512 screens cheaper than that median.
Fair Value models
Bear14.03 TWDFair Value 19.46 TWDBull24.32 TWD
Price 17.75 TWD · Upside +9.6%
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 (0.1029 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
FCF DCF7.52 TWD9.80 TWD12.87 TWD82
Growth DCF7.45 TWD9.44 TWD11.95 TWD80
Residual Income18.29 TWD19.45 TWD21.70 TWD76
All 16 models by family
DCF Models
FCF DCF7.52 TWD9.80 TWD12.87 TWD82
5Y Revenue Exit19.47 TWD34.37 TWD54.72 TWD71
5Y EBITDA Exit24.24 TWD43.92 TWD68.53 TWD73
10Y Revenue Exit13.32 TWD24.01 TWD40.44 TWD65
10Y EBITDA Exit16.51 TWD29.70 TWD49.73 TWD66
Dividend Discount
Gordon GGM7.93 TWD12.88 TWD16.35 TWD69
DDM Multi-Stage7.93 TWD12.40 TWD13.90 TWD67
Multiples
P/S Multiple30.19 TWD40.25 TWD50.32 TWD58
P/B Multiple28.65 TWD38.20 TWD47.75 TWD55
EV/EBIT36.00 TWD52.14 TWD68.28 TWD65
EV/EBITDA25.58 TWD38.25 TWD50.91 TWD66
EV/Revenue14.29 TWD25.73 TWD37.18 TWD52
Asset-Based
NCAV (Graham)15.11 TWD22.89 TWD28.61 TWD54
Growth DCF
Growth DCF7.45 TWD9.44 TWD11.95 TWD80
Rev-Margin DCF19.47 TWD33.77 TWD51.59 TWD71
Economic Profit
Residual Income18.29 TWD19.45 TWD21.70 TWD76
The fair value above starts from this blend and is adjusted for dilution from new shares.
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.37/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+62.9%
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.
−13.8%
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.
−9.9%
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.
+0.3%
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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.
+8.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year−2.0%
Dividend (yield on the price)10.1%
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.9% → 23%
⚠ Revenue per share shrinking 5.8%/yr over ~6Y (margin trend unclear) ⓘ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).
+40.7%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
Calculated on free cash flow for fiscal year 2025. Over the last twelve months it was negative, so the figure above is uncertain.
After inflation (Taiwan: IMF forecast 1.6% a year to 2030, 1.5% from 2016 to 2025) that is about +38.5% a year for the price.
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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.Real Estate Services · 472 stocks
Beats the industry median on 9/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score54 · Below median
Fair Value upside+9.6% · Below median
Profitability
Return on equity (12 months)8.6% · Above median
Return on assets4.8% · Top 25%
Net margin (12 months)22.6% · Above median
Operating margin (12 months)4.9% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY)12.4% · Above median
Dividend yield (12 months)10.1% · Top 25%
Balance sheet
Debt / equity0.23× · Below median
Valuation Multiplesvs Real Estate Services 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). "Huang Long Development Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/3512
Frequently asked questions
Is Huang Long Development Co Ltd (3512) overvalued or undervalued?
As of Nov 9, 2026, our model estimates a fair value of 19.46 TWD versus a price of 17.75 TWD, about +10% upside (fairly valued).
What is the fair value of 3512?
Our model-based fair value for Huang Long Development Co Ltd is 19.46 TWD (as of Nov 9, 2026), built from audited fundamentals. The current price: 17.75 TWD.
What is the quality score of 3512?
Huang Long Development Co Ltd has a Quality Score of 54/100. 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 Huang Long Development Co Ltd (3512)?
Our model-based price target is the fair value of 19.46 TWD (as of Nov 9, 2026) from 16 valuation models. Cautious scenario 14.03 TWD, optimistic scenario 24.32 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Huang Long Development Co Ltd stock forecast for 2026?
Our models put fair value at 19.46 TWD, about +10% upside versus a price of 17.75 TWD (fairly valued). Cautious scenario 14.03 TWD, optimistic scenario 24.32 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Huang Long Development Co Ltd (3512)?
Huang Long Development Co Ltd reported trailing-twelve-month revenue of about 945M TWD (latest available figure, as of Nov 9, 2026).
Does Huang Long Development Co Ltd pay a dividend?
Huang Long Development Co Ltd currently shows a dividend yield of 10.14% relative to its recent price (as of Nov 9, 2026).
How much is the dividend of Huang Long Development Co Ltd (3512) and when is the ex-dividend date?
Huang Long Development Co Ltd pays a dividend of 1.80 TWD per share a year, a dividend yield of 10.1%. The last ex-dividend date was Jul 14, 2026. A dividend has been paid every year since 2021. The payout ratio is 93.8% of earnings. Free cash flow covers the dividend 0.28 times. 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 growth is priced into Huang Long Development Co Ltd (3512)?
For today's price to be fair in a discounted-cash-flow model, Huang Long Development Co Ltd would have to grow free cash flow by +40.7 % per year for five years (discount rate 13.3 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -9.9 % per year. Calculated on free cash flow for fiscal year 2025. Over the last twelve months it was negative, so the figure above is uncertain. As of Nov 9, 2026.
What discount rate (WACC) does the fair value of 3512 use?
Our models discount Huang Long Development Co Ltd at 13.3 %: a base by market capitalisation (micro), 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 Huang Long Development Co Ltd that is +40.7 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (13.3 %) and the same formula as our fair value.
How much growth has Huang Long Development Co Ltd (3512) delivered so far?
Over the past 5 years revenue at Huang Long Development Co Ltd grew -9.9 % a year. The price currently implies free-cash-flow growth of +40.7 % 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 Huang Long Development Co Ltd (3512) growing?
The median revenue growth in the sector is +2.7 % a year. That is the yardstick for the growth priced into Huang Long Development Co Ltd (+40.7 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Huang Long Development Co Ltd (3512)?
The free-cash-flow yield on the price is 2.85 % in the last fiscal year (free cash flow was negative over the last twelve months): that much free cash flow Huang Long Development Co Ltd produces per unit of market value. When it exceeds the discount rate of our models (13.3 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Huang Long Development Co Ltd (3512)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Huang Long Development Co Ltd it is 19.46 TWD per share (as of Nov 9, 2026), against a price of 17.75 TWD. It is the blended result of 16 valuation models in 6 families (DCF Models, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit).
Is Huang Long Development Co Ltd stock overvalued or undervalued in 2026?
As of Nov 9, 2026, 3512 trades below its calculated fair value: price 17.75 TWD, fair value 19.46 TWD, a gap of about +10% (fairly valued). 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 3512?
No. The price is what the market pays today (17.75 TWD); the fair value is what the company's own numbers justify (19.46 TWD). For Huang Long Development Co Ltd the two are 1.71 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Huang Long Development Co Ltd worth?
The market values Huang Long Development Co Ltd at about 2.0B TWD (market capitalisation, as of Nov 9, 2026). Per share that is 17.75 TWD; our models calculate a fair value of 19.46 TWD per share.
What do the bullish and bearish scenarios say about 3512?
Our models span a range for Huang Long Development Co Ltd: cautious scenario 14.03 TWD, base 19.46 TWD, optimistic 24.32 TWD per share (as of Nov 9, 2026, price 17.75 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 3512?
Huang Long Development Co Ltd trades at a price-to-earnings ratio of 9.2 (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 19.46 TWD is built from several models across several years. Median P/E at fiscal year-end, 7 fiscal years (2019 to 2025), reported earnings: 9.6. Other multiples: P/B 0.8, P/S 2.1, EV/EBITDA 6.3.
How solid is the balance sheet of Huang Long Development Co Ltd (3512)?
Balance-sheet figures for Huang Long Development Co Ltd (as of Nov 9, 2026): return on equity 8.6%, debt of 0.23 per unit of equity. They feed the Quality Score of 54/100, which measures business quality independently of the share price.
How far is 3512 from its 52-week high?
Huang Long Development Co Ltd trades at 17.75 TWD, about 20% below its 52-week high of 22.30 TWD and at the low of 17.75 TWD (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 19.46 TWD is for.
Which stocks are comparable to Huang Long Development Co Ltd?
From the same area (Real Estate) we also value CBRE Group, Cellnex Telecom, S.A, KE Holdings, Swire Properties 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 Huang Long Development Co Ltd stock attractive at the current price?
The data as of Nov 9, 2026: price 17.75 TWD, calculated fair value 19.46 TWD (+10%), Quality Score 54/100, 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 3512 calculated?
We run Huang Long Development Co Ltd through 16 models from 6 families: DCF Models, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit. Every model gets the same audited fundamentals; the fair value of 19.46 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. Huang Long Development Co Ltd currently trades 9% 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 Huang Long Development Co Ltd (3512)?
The closing price on Nov 6, 2026 was 17.75 TWD. Our model-based fair value is 19.46 TWD, about +10% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Huang Long Development Co Ltd right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual. As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Key figures of Huang Long Development Co Ltd
How large is the market capitalisation of Huang Long Development Co Ltd (3512)?
The market capitalisation of Huang Long Development Co Ltd is 2.0B TWD (≈ $61.1M). 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 Huang Long Development Co Ltd (3512)?
The price-to-sales ratio of Huang Long Development Co Ltd is 2.12 (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 Huang Long Development Co Ltd (3512)?
Earnings per share at Huang Long Development Co Ltd are 1.92 TWD (price ÷ EPS = P/E 9.2). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Huang Long Development Co Ltd (3512)?
The dividend yield of Huang Long Development Co Ltd is 10.1% (payout 93.8%). 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 Huang Long Development Co Ltd (3512)?
The net margin of Huang Long Development Co Ltd is 22.6% (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 Huang Long Development Co Ltd (3512)?
The return on equity (ROE) of Huang Long Development Co Ltd is 8.6% (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 Huang Long Development Co Ltd (3512)?
On an EBIT basis the return on assets of Huang Long Development Co Ltd is 6.8% (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 Huang Long Development Co Ltd (3512)?
The operating margin of Huang Long Development Co Ltd is 4.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Huang Long Development Co Ltd (3512)?
Revenue at Huang Long Development Co Ltd is growing +12.4% versus a year earlier (3y avg −13.8%). 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 Huang Long Development Co Ltd (3512)?
Earnings per share at Huang Long Development Co Ltd are growing −63.1% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Huang Long Development Co Ltd (3512) carry?
The net debt of Huang Long Development Co Ltd is 1.4B TWD (fiscal year 2025, ≈ 24.5 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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Thin data
Nov 9, 2026