Honyi International Company Limited (4530) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Honyi International Company Limited stock TWD 10.58, price TWD 24.25, that is 56.4% below the price, quality 45 out of 100. Rating: strongly overvalued. Calculated from audited financials with 24 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 3, 2026.
How to read this chart
60‑month range 0.0026 TWD – 34.88 TWD · fair‑value band 8.52 TWD – 13.40 TWD · the 24.25 TWD price screens above the 10.58 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 3, 2026.
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Honyi International Company Limited, together with its subsidiaries, engages in the metal forging business in Taiwan. It is also involved in wastewater and sewage treatment; wholesale of industrial additives; and construction of environmental protection engineering projects.
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The company was formerly known as Honyi Precision Industry Co., Ltd. and changed its name to Honyi International Company Limited in September 2018. Honyi International Company Limited was founded in 1973 and is headquartered in Taipei, Taiwan.
Stock analysis
Honyi International Company Limited (4530) currently trades at 24.25 TWD, while our model-based Fair Value estimate is 10.58 TWD, 56% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of 16.13 TWD per share, and 2 of the 24 models we run sit above the 24.25 TWD price.
Bear case: the Economic Profit group reads lowest at 9.36 TWD, and 22 of the 24 models stay below the price. Data coverage for this calculation is low.
Scenario range: 8.52 TWD (bear) to 13.40 TWD (bull), the price of 24.25 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 45/100 (below-average quality), in the Industrials sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Honyi International Company Limited reported revenue of 349M TWD in FY2025 versus 160M TWD in FY2021, a compound +21.6%/yr. Reported net income was 9.5M TWD in FY2025.
Key figures
Market cap 868M TWD (≈ $26.4M) Micro · P/E ratio 49.5 · P/S ratio 1.34 · EPS (TTM) 0.4900 TWD · Net margin 2.7% · Return on equity 2.9% · Return on assets (EBIT) −2.5% (5-year average) · Operating margin −22.8%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 21 out of 100 (low confidence).
What moves the price
The share trades about 26% below its 52-week high and 7% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −38% fair-value upside, at −56%, 4530 screens richer than that median.
Fair Value models
Bear8.52 TWDFair Value 10.58 TWDBull13.40 TWD
Price 24.25 TWD · Downside -56.4%
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 (0.4202 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 DCF10.79 TWD13.99 TWD23.72 TWD73
Growth DCF10.39 TWD15.25 TWD22.96 TWD72
EPV9.71 TWD10.49 TWD11.16 TWD70
All 24 models by family
DCF Models
FCF DCF10.79 TWD13.99 TWD23.72 TWD73
Owner Earnings7.64 TWD11.40 TWD18.64 TWD69
5Y Revenue Exit10.64 TWD15.42 TWD25.44 TWD65
5Y EBITDA Exit13.81 TWD21.83 TWD37.58 TWD67
5Y P/E Exit9.27 TWD14.65 TWD21.86 TWD65
10Y Revenue Exit10.52 TWD18.18 TWD23.15 TWD62
10Y EBITDA Exit12.94 TWD24.62 TWD45.36 TWD60
10Y P/E Exit9.81 TWD15.40 TWD24.31 TWD58
Earnings-Based
Graham-Dodd1.80 TWD12.56 TWD17.63 TWD59
Lynch FV6.49 TWD9.27 TWD12.05 TWD57
PEG = 1.06.49 TWD9.27 TWD12.05 TWD53
EPV9.71 TWD10.49 TWD11.16 TWD70
Multiples
P/E Multiple4.17 TWD5.56 TWD6.95 TWD63
P/S Multiple3.38 TWD4.50 TWD5.63 TWD57
P/B Multiple40.74 TWD54.32 TWD67.90 TWD55
EV/EBIT14.55 TWD17.96 TWD21.37 TWD65
EV/EBITDA14.87 TWD18.39 TWD21.90 TWD67
EV/Revenue10.02 TWD12.45 TWD14.89 TWD53
Asset-Based
NCAV (Graham)7.06 TWD10.69 TWD13.36 TWD54
Growth DCF
Growth DCF10.39 TWD15.25 TWD22.96 TWD72
Rev-Margin DCF11.31 TWD17.01 TWD28.92 TWD65
Economic Profit
Residual Income8.06 TWD8.23 TWD8.81 TWD66
ROIC Compounder9.71 TWD10.49 TWD11.16 TWD67
Growth Earnings
Growth-Adj P/E8.49 TWD12.13 TWD15.76 TWD63
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.82/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Profit margin (trend) ⓘ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.
−18.0% (2021) → 17.8% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: no profitable base year
not computed
Growth Forecast
Little optimism in the price
The price assumes less 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).
+7.2%
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 +5.6% a year for the price.
Compare Honyi International Company Limited with another stock
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.Metal Fabrication · 260 stocks
Beats the industry median on 2/13 measures
Overall it trails its industry peers.
Valuation
Quality Score45 · Below median
Fair Value upside−56.4% · Bottom 25%
Profitability
Return on equity (12 months)2.9% · Below median
Return on assets1.4% · Below median
Net margin (12 months)1.1% · Below median
Operating margin (12 months)−22.8% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY)50.0% · Top 25%
Balance sheet
Debt / equity0.10× · Below median
Valuation Multiplesvs Metal Fabrication median · lower = cheaper
P/E (12 months)49.5× · Priciest 25%
P/B1.86× · Pricier than median
P/S (12 months)2.15× · Pricier than median
Price / free cash flow (fiscal year)25.8× · Pricier than median
EV/EBITDA13.0× · Pricier than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 0
FUTURE (revenue growth)100· sector 68
PAST (return on equity)12· sector 24
HEALTH (low debt)95· sector 95
DIVIDEND (yield)0· sector 25
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). "Honyi International Company Limited Fair Value". https://www.fairvalue-calculator.com/stock/4530
Frequently asked questions
Is Honyi International Company Limited (4530) overvalued or undervalued?
As of Nov 3, 2026, our model estimates a fair value of 10.58 TWD versus a price of 24.25 TWD, about 56% lower (overvalued).
What is the fair value of 4530?
Our model-based fair value for Honyi International Company Limited is 10.58 TWD (as of Nov 3, 2026), built from audited fundamentals. The current price: 24.25 TWD.
What is the quality score of 4530?
Honyi International Company Limited has a Quality Score of 45/100. 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 Honyi International Company Limited (4530)?
Our model-based price target is the fair value of 10.58 TWD (as of Nov 3, 2026) from 24 valuation models. Cautious scenario 8.52 TWD, optimistic scenario 13.40 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Honyi International Company Limited stock forecast for 2026?
Our models put fair value at 10.58 TWD, about 56% lower versus a price of 24.25 TWD (overvalued). Cautious scenario 8.52 TWD, optimistic scenario 13.40 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Honyi International Company Limited (4530)?
Honyi International Company Limited reported trailing-twelve-month revenue of about 403M TWD (latest available figure, as of Nov 3, 2026).
What growth is priced into Honyi International Company Limited (4530)?
For today's price to be fair in a discounted-cash-flow model, Honyi International Company Limited would have to grow free cash flow by +7.2 % per year for five years (discount rate 10.3 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 4 years revenue grew +21.6 % per year. As of Nov 3, 2026.
What discount rate (WACC) does the fair value of 4530 use?
Our models discount Honyi International Company Limited 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 Honyi International Company Limited that is +7.2 % 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 Honyi International Company Limited (4530) delivered so far?
Over the past 4 years revenue at Honyi International Company Limited grew +21.6 % a year. The price currently implies free-cash-flow growth of +7.2 % 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 Honyi International Company Limited (4530) growing?
The median revenue growth in the sector is +7.8 % a year. That is the yardstick for the growth priced into Honyi International Company Limited (+7.2 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Honyi International Company Limited (4530)?
The free-cash-flow yield on the price is 3.87 %: that much free cash flow Honyi International Company Limited 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 Honyi International Company Limited (4530)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Honyi International Company Limited it is 10.58 TWD per share (as of Nov 3, 2026), against a price of 24.25 TWD. It is the blended result of 24 valuation models in 7 families (DCF Models, Earnings-Based, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Honyi International Company Limited stock overvalued or undervalued in 2026?
As of Nov 3, 2026, 4530 trades above its calculated fair value: price 24.25 TWD, fair value 10.58 TWD, a gap of about −56% (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 4530?
No. The price is what the market pays today (24.25 TWD); the fair value is what the company's own numbers justify (10.58 TWD). For Honyi International Company Limited the two are 13.67 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Honyi International Company Limited worth?
The market values Honyi International Company Limited at about 868M TWD (market capitalisation, as of Nov 3, 2026). Per share that is 24.25 TWD; our models calculate a fair value of 10.58 TWD per share.
What do the bullish and bearish scenarios say about 4530?
Our models span a range for Honyi International Company Limited: cautious scenario 8.52 TWD, base 10.58 TWD, optimistic 13.40 TWD per share (as of Nov 3, 2026, price 24.25 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 4530?
Honyi International Company Limited trades at a price-to-earnings ratio of 49.5 (as of Nov 3, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 10.58 TWD is built from several models across several years. Other multiples: P/B 1.9, P/S 2.2, EV/EBITDA 13.0.
How solid is the balance sheet of Honyi International Company Limited (4530)?
Balance-sheet figures for Honyi International Company Limited (as of Nov 3, 2026): return on equity 2.9%, debt of 0.10 per unit of equity. They feed the Quality Score of 45/100, which measures business quality independently of the share price.
How far is 4530 from its 52-week high?
Honyi International Company Limited trades at 24.25 TWD, about 26% below its 52-week high of 32.85 TWD and 7% above the low of 22.70 TWD (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 10.58 TWD is for.
Which stocks are comparable to Honyi International Company Limited?
From the same area (Industrials) we also value ATI Inc, Carpenter Technology Corporation, Mueller Industries, Inc, Bharat Forge 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 Honyi International Company Limited stock attractive at the current price?
The data as of Nov 3, 2026: price 24.25 TWD, calculated fair value 10.58 TWD (−56%), Quality Score 45/100, from 24 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 4530 calculated?
We run Honyi International Company Limited through 24 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 10.58 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. Honyi International Company Limited 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 Honyi International Company Limited (4530)?
The closing price on Nov 6, 2026 was 24.25 TWD. Our model-based fair value is 10.58 TWD, about 56% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Honyi International Company Limited right now?
The price sits above even our optimistic bull case (13.40 TWD). The favourable scenario is already priced in. Weak quality (45/100) 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 Honyi International Company Limited
How large is the market capitalisation of Honyi International Company Limited (4530)?
The market capitalisation of Honyi International Company Limited is 868M TWD (≈ $26.4M). 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 Honyi International Company Limited (4530)?
The price-to-sales ratio of Honyi International Company Limited is 1.34 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Honyi International Company Limited (4530)?
Earnings per share at Honyi International Company Limited are 0.4900 TWD (price ÷ EPS = P/E 49.5). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Honyi International Company Limited (4530)?
The net margin of Honyi International Company Limited is 2.7% (fiscal year 2025). 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 Honyi International Company Limited (4530)?
The return on equity (ROE) of Honyi International Company Limited is 2.9% (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 Honyi International Company Limited (4530)?
On an EBIT basis the return on assets of Honyi International Company Limited is −2.5% (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 Honyi International Company Limited (4530)?
The operating margin of Honyi International Company Limited is −22.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Honyi International Company Limited (4530)?
Revenue at Honyi International Company Limited is growing +50.0% versus a year earlier (3y avg +21.1%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
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Thin data
Nov 3, 2026