Bright Sheland International Co Ltd (4556) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Bright Sheland International Co Ltd stock TWD 19.36, price TWD 85.90, that is 77.5% below the price, quality 68 out of 100. Rating: strongly overvalued. Calculated from audited financials with 25 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 8, 2026.
How to read this chart
60‑month range 22.30 TWD – 145.00 TWD · fair‑value band 14.52 TWD – 24.20 TWD · the 85.90 TWD price screens above the 19.36 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 8, 2026.
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Bright Sheland International Co., Ltd. researches, develops, manufactures, markets, and sells water filters and compressed air separation systems under the Filtrafine brand in Taiwan and internationally.
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The company offers depth, string wound, activated carbon, pleated, membrane, glass fiber, high flow, and stainless steel cartridges; filter bag; and plastic, single SS, multiple SS, bag, high flow, sanitary, gas and steam, and customized filter housings.
It also provides UV disinfection and TOC reduction units, spare parts; melt brown fabric; PP stable fiber; and laboratory services for filtration. The company serves microelectronics, oil and gas, water treatment, and food and beverage industries.
Bright Sheland International Co., Ltd. was founded in 1985 and is based in Taipei, Taiwan.
Stock analysis
Bright Sheland International Co Ltd (4556) currently trades at 85.90 TWD, while our model-based Fair Value estimate is 19.36 TWD, 77% 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 25.52 TWD per share, and 1 of the 25 models we run sit above the 85.90 TWD price.
Bear case: the Dividend Discount group reads lowest at 3.13 TWD, and 24 of the 25 models stay below the price. Data coverage for this calculation is high.
Scenario range: 14.52 TWD (bear) to 24.20 TWD (bull), the price of 85.90 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 68/100 (solid quality), in the Industrials sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Bright Sheland International Co Ltd reported revenue of 673M TWD in FY2025 versus 591M TWD in FY2021, a compound +3.3%/yr. Reported net income was 39.0M TWD in FY2025, compounding +33.2%/yr from FY2021.
Key figures
Market cap 3.6B TWD (≈ $111M) Micro · P/E ratio 80.3 · P/S ratio 5.19 · EPS (TTM) 1.07 TWD · Dividend yield 0.7% · Net margin 6.5% · Return on equity 5.8% · Return on assets (EBIT) 3.0% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 37 out of 100 (low confidence).
What moves the price
The share trades about 41% below its 52-week high and 278% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Industrials peers we cover trades at 3% fair-value upside, at −77%, 4556 screens richer than that median.
Fair Value models
The price assumes far more growth than our models allow for, so the models scatter widely (3.00 TWD to 87.81 TWD). Read the Fair Value as a cautious anchor, not a price target; the Growth Forecast section shows what the price assumes.
Bear14.52 TWDFair Value 19.36 TWDBull24.20 TWD
Price 85.90 TWD · Downside -77.5%
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 (0.4030 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.64/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
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.
−1.3%
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.
+5.7%
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.
+6.5%
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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.
≈ +12.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year≈ +12.1%
Dividend (yield on the price)0.7%
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% → 9%
2025 sits 173% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
⚠ Base effect: the rate starts in the earnings trough around 2020 (starting value 0.42 per share, median 1.06 in 2017 to 2018). It measures the recovery from the trough, not lasting growth.
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).
+32.3%
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 +30.3% 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.Pollution & Treatment Controls · 86 stocks
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Cite: Fair Value Calculator (2026). "Bright Sheland International Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/4556
Frequently asked questions
Is Bright Sheland International Co Ltd (4556) overvalued or undervalued?
As of Nov 8, 2026, our model estimates a fair value of 19.36 TWD versus a price of 85.90 TWD, about 77% lower (overvalued).
What is the fair value of 4556?
Our model-based fair value for Bright Sheland International Co Ltd is 19.36 TWD (as of Nov 8, 2026), built from audited fundamentals. The current price: 85.90 TWD.
What is the quality score of 4556?
Bright Sheland International Co Ltd has a Quality Score of 68/100. 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 Bright Sheland International Co Ltd (4556)?
Our model-based price target is the fair value of 19.36 TWD (as of Nov 8, 2026) from 25 valuation models. Cautious scenario 14.52 TWD, optimistic scenario 24.20 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Bright Sheland International Co Ltd stock forecast for 2026?
Our models put fair value at 19.36 TWD, about 77% lower versus a price of 85.90 TWD (overvalued). Cautious scenario 14.52 TWD, optimistic scenario 24.20 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Bright Sheland International Co Ltd (4556)?
Bright Sheland International Co Ltd reported trailing-twelve-month revenue of about 700M TWD (latest available figure, as of Nov 8, 2026).
Does Bright Sheland International Co Ltd pay a dividend?
Bright Sheland International Co Ltd currently shows a dividend yield of 0.70% relative to its recent price (as of Nov 8, 2026).
How much is the dividend of Bright Sheland International Co Ltd (4556) and when is the ex-dividend date?
Bright Sheland International Co Ltd pays a dividend of 0.6 TWD per share a year, a dividend yield of 0.7%. The last ex-dividend date was Jul 9, 2026. A dividend has been paid every year since at least 2015. The payout ratio is 56.1% of earnings. Free cash flow covers the dividend 3.19 times. Our assessment: Well covered. A low payout and the dividend is fully funded by free cash flow, a comfortable, sustainable dividend.
What growth is priced into Bright Sheland International Co Ltd (4556)?
For today's price to be fair in a discounted-cash-flow model, Bright Sheland International Co Ltd would have to grow free cash flow by +32.3 % per year for five years (discount rate 11.8 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +5.8 % per year. As of Nov 8, 2026.
What discount rate (WACC) does the fair value of 4556 use?
Our models discount Bright Sheland International Co Ltd at 11.8 %: a base by market capitalisation (micro), damped by beta 0.32, 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 Bright Sheland International Co Ltd that is +32.3 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (11.8 %) and the same formula as our fair value.
How much growth has Bright Sheland International Co Ltd (4556) delivered so far?
Over the past 5 years revenue at Bright Sheland International Co Ltd grew +5.8 % a year. The price currently implies free-cash-flow growth of +32.3 % 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 Bright Sheland International Co Ltd (4556) growing?
The median revenue growth in the sector is +7.8 % a year. That is the yardstick for the growth priced into Bright Sheland International Co Ltd (+32.3 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Bright Sheland International Co Ltd (4556)?
The free-cash-flow yield on the price is 2.23 %: that much free cash flow Bright Sheland International Co Ltd produces per unit of market value. When it exceeds the discount rate of our models (11.8 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Bright Sheland International Co Ltd (4556)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Bright Sheland International Co Ltd it is 19.36 TWD per share (as of Nov 8, 2026), against a price of 85.90 TWD. It is the blended result of 25 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Bright Sheland International Co Ltd stock overvalued or undervalued in 2026?
As of Nov 8, 2026, 4556 trades above its calculated fair value: price 85.90 TWD, fair value 19.36 TWD, a gap of about −77% (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 4556?
No. The price is what the market pays today (85.90 TWD); the fair value is what the company's own numbers justify (19.36 TWD). For Bright Sheland International Co Ltd the two are 66.54 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Bright Sheland International Co Ltd worth?
The market values Bright Sheland International Co Ltd at about 3.6B TWD (market capitalisation, as of Nov 8, 2026). Per share that is 85.90 TWD; our models calculate a fair value of 19.36 TWD per share.
What do the bullish and bearish scenarios say about 4556?
Our models span a range for Bright Sheland International Co Ltd: cautious scenario 14.52 TWD, base 19.36 TWD, optimistic 24.20 TWD per share (as of Nov 8, 2026, price 85.90 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 4556?
Bright Sheland International Co Ltd trades at a price-to-earnings ratio of 80.3 (as of Nov 8, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 19.36 TWD is built from several models across several years. Other multiples: P/B 4.4, P/S 5.2, EV/EBITDA 31.8.
How solid is the balance sheet of Bright Sheland International Co Ltd (4556)?
Balance-sheet figures for Bright Sheland International Co Ltd (as of Nov 8, 2026): return on equity 5.8%, debt of 0.18 per unit of equity. They feed the Quality Score of 68/100, which measures business quality independently of the share price.
How far is 4556 from its 52-week high?
Bright Sheland International Co Ltd trades at 85.90 TWD, about 41% below its 52-week high of 145.00 TWD and 278% above the low of 22.75 TWD (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 19.36 TWD is for.
Which stocks are comparable to Bright Sheland International Co Ltd?
From the same area (Industrials) we also value Veralto Corporation, Zurn Elkay Water Solutions Corporation, Fujian Longking Co, Munters Group, 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 Bright Sheland International Co Ltd stock attractive at the current price?
The data as of Nov 8, 2026: price 85.90 TWD, calculated fair value 19.36 TWD (−77%), Quality Score 68/100, from 25 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 4556 calculated?
We run Bright Sheland International Co Ltd through 25 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 19.36 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. Bright Sheland 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 Bright Sheland International Co Ltd (4556)?
The closing price on Nov 6, 2026 was 85.90 TWD. Our model-based fair value is 19.36 TWD, about 77% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Bright Sheland International Co Ltd right now?
The price sits above even our optimistic bull case (24.20 TWD). The favourable scenario is already priced in. Solid but not exceptional quality (68/100) and above fair value, neither a clear bargain nor a standout compounder.
Key figures of Bright Sheland International Co Ltd
How large is the market capitalisation of Bright Sheland International Co Ltd (4556)?
The market capitalisation of Bright Sheland International Co Ltd is 3.6B TWD (≈ $111M). 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 Bright Sheland International Co Ltd (4556)?
The price-to-sales ratio of Bright Sheland International Co Ltd is 5.19 (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 Bright Sheland International Co Ltd (4556)?
Earnings per share at Bright Sheland International Co Ltd are 1.07 TWD (price ÷ EPS = P/E 80.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Bright Sheland International Co Ltd (4556)?
The dividend yield of Bright Sheland International Co Ltd is 0.7% (payout 56.1%). 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 Bright Sheland International Co Ltd (4556)?
The net margin of Bright Sheland International Co Ltd is 6.5% (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 Bright Sheland International Co Ltd (4556)?
The return on equity (ROE) of Bright Sheland International Co Ltd is 5.8% (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 Bright Sheland International Co Ltd (4556)?
On an EBIT basis the return on assets of Bright Sheland International Co Ltd is 3.0% (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 Bright Sheland International Co Ltd (4556)?
The operating margin of Bright Sheland International Co Ltd is 7.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Bright Sheland International Co Ltd (4556)?
Revenue at Bright Sheland International Co Ltd is growing +0.3% versus a year earlier (3y avg −1.3%). 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 Bright Sheland International Co Ltd (4556)?
Earnings per share at Bright Sheland International Co Ltd are growing +21.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Bright Sheland International Co Ltd (4556) carry?
The net debt of Bright Sheland International Co Ltd is 292M TWD (fiscal year 2025, ≈ 3.6 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Broad data
Nov 8, 2026