Proxene Tools Co., Ltd. (6904) fair value: what the stock is really worth
As of Nov 5, 2026: fair value (intrinsic value) of Proxene Tools Co., Ltd. stock TWD 114, price TWD 115, that is 0.2% below the price, quality 61 out of 100. Rating: fairly valued. 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 9, 2026.
How to read this chart
51‑month range 95.01 TWD – 208.75 TWD · fair‑value band 85.68 TWD – 142.79 TWD · the 114.50 TWD price screens above the 114.24 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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Proxene Tools Co., Ltd. manufactures and sells various series of adjustable wrenches. and pliers in Taiwan. The company serves engineering, plumbing, construction, industrial and automotive sector. It also exports its products. The company was founded in 1984 and is based in Taichung, Taiwan.
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As of March 31, 2025, Proxene Tools Co., Ltd. operates as a subsidiary of FuSheng Precision Co., Ltd.
Stock analysis
Proxene Tools Co., Ltd. (6904) currently trades at 114.50 TWD, while our model-based Fair Value estimate is 114.24 TWD, so the stock looks roughly fairly valued today (gap 0.2%).
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Valuation
Bull case: the Growth DCF group reads highest at a median of 147.72 TWD per share, and 13 of the 24 models we run sit above the 114.50 TWD price.
Bear case: the Asset-Based group reads lowest at 11.52 TWD, and 11 of the 24 models stay below the price. Data coverage for this calculation is high.
Scenario range: 85.68 TWD (bear) to 142.79 TWD (bull), the price of 114.50 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 61/100 (solid quality), in the Industrials sector.
Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.
Proxene Tools Co., Ltd. reported revenue of 863M TWD in FY2025 versus 810M TWD in FY2021, a compound +1.6%/yr. Reported net income was 101M TWD in FY2025, compounding −5.2%/yr from FY2021.
Key figures
Market cap 2.1B TWD (≈ $64.5M) Micro · P/E ratio 15.3 · P/S ratio 2.37 · EPS (TTM) 7.47 TWD · Dividend yield 4.4% · Net margin 15.8% · Return on equity 14.5% · Return on assets (EBIT) 12.6% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 55 out of 100 (low confidence).
What moves the price
The share trades about 10% below its 52-week high and 5% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −20% fair-value upside, at 0%, 6904 screens cheaper than that median.
Fair Value models
Bear85.68 TWDFair Value 114.24 TWDBull142.79 TWD
Price 114.50 TWD · Downside -0.2%
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 (2.12 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.40/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−3.1%
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.
−1.6%
’21
’22
’23
’24
’25
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. Basis: EBIT basis. 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.
+4.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year−0.3%
Dividend (yield on the price)4.4%
Profit margin 2021 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.18% → 19%
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).
−3.5%
The company could shrink this much every year for the next five years and today's price would still be justified.
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 −5.0% a year for the price.
Compare Proxene Tools Co., Ltd. with another stock
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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.Tools & Accessories · 128 stocks
Beats the industry median on 11/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score61 · Above median
Fair Value upside−0.2% · Above median
Profitability
Return on equity (12 months)14.5% · Top 25%
Return on assets5.7% · Above median
Net margin (12 months)15.8% · Top 25%
Operating margin (12 months)12.1% · Above median
Growth and dividend
Revenue growth (quarter YoY)24.2% · Top 25%
Dividend yield (12 months)4.4% · Top 25%
Balance sheet
Debt / equity0.20× · Above median
Valuation Multiplesvs Tools & Accessories median · lower = cheaper
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Is Proxene Tools Co., Ltd. (6904) overvalued or undervalued?
As of Nov 9, 2026, our model estimates a fair value of 114.24 TWD versus a price of 114.50 TWD, about 0% lower (fairly valued).
What is the fair value of 6904?
Our model-based fair value for Proxene Tools Co., Ltd. is 114.24 TWD (as of Nov 9, 2026), built from audited fundamentals. The current price: 114.50 TWD.
What is the quality score of 6904?
Proxene Tools Co., Ltd. has a Quality Score of 61/100. 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 Proxene Tools Co., Ltd. (6904)?
Our model-based price target is the fair value of 114.24 TWD (as of Nov 9, 2026) from 24 valuation models. Cautious scenario 85.68 TWD, optimistic scenario 142.79 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Proxene Tools Co., Ltd. stock forecast for 2026?
Our models put fair value at 114.24 TWD, about 0% lower versus a price of 114.50 TWD (fairly valued). Cautious scenario 85.68 TWD, optimistic scenario 142.79 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Proxene Tools Co., Ltd. (6904)?
Proxene Tools Co., Ltd. reported trailing-twelve-month revenue of about 892M TWD (latest available figure, as of Nov 9, 2026).
Does Proxene Tools Co., Ltd. pay a dividend?
Proxene Tools Co., Ltd. currently shows a dividend yield of 4.37% relative to its recent price (as of Nov 9, 2026).
How much is the dividend of Proxene Tools Co., Ltd. (6904) and when is the ex-dividend date?
Proxene Tools Co., Ltd. pays a dividend of 5.00 TWD per share a year, a dividend yield of 4.4%. The last ex-dividend date was Jul 22, 2026. The payout ratio is 66.9% of earnings. Free cash flow covers the dividend 2.90 times. Our assessment: Sustainable. Payout and cash coverage both look sustainable.
What growth is priced into Proxene Tools Co., Ltd. (6904)?
For today's price to be fair in a discounted-cash-flow model, Proxene Tools Co., Ltd. would have to grow free cash flow by -3.5 % per year for five years (discount rate 11.8 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 4 years revenue grew +1.6 % per year. As of Nov 9, 2026.
What discount rate (WACC) does the fair value of 6904 use?
Our models discount Proxene Tools Co., Ltd. at 11.8 %: a base by market capitalisation (micro), damped by beta 0.16, 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 Proxene Tools Co., Ltd. that is -3.5 % 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 Proxene Tools Co., Ltd. (6904) delivered so far?
Over the past 4 years revenue at Proxene Tools Co., Ltd. grew +1.6 % a year. The price currently implies free-cash-flow growth of -3.5 % 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 Proxene Tools Co., Ltd. (6904) growing?
The median revenue growth in the sector is +7.8 % a year. That is the yardstick for the growth priced into Proxene Tools Co., Ltd. (-3.5 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Proxene Tools Co., Ltd. (6904)?
The free-cash-flow yield on the price is 12.66 %: that much free cash flow Proxene Tools 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 Proxene Tools Co., Ltd. (6904)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Proxene Tools Co., Ltd. it is 114.24 TWD per share (as of Nov 9, 2026), against a price of 114.50 TWD. It is the blended result of 24 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Proxene Tools Co., Ltd. stock overvalued or undervalued in 2026?
As of Nov 9, 2026, 6904 trades above its calculated fair value: price 114.50 TWD, fair value 114.24 TWD, a gap of about −0% (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 6904?
No. The price is what the market pays today (114.50 TWD); the fair value is what the company's own numbers justify (114.24 TWD). For Proxene Tools Co., Ltd. the two are 0.2600 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Proxene Tools Co., Ltd. worth?
The market values Proxene Tools Co., Ltd. at about 2.1B TWD (market capitalisation, as of Nov 9, 2026). Per share that is 114.50 TWD; our models calculate a fair value of 114.24 TWD per share.
What do the bullish and bearish scenarios say about 6904?
Our models span a range for Proxene Tools Co., Ltd.: cautious scenario 85.68 TWD, base 114.24 TWD, optimistic 142.79 TWD per share (as of Nov 9, 2026, price 114.50 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 6904?
Proxene Tools Co., Ltd. trades at a price-to-earnings ratio of 15.3 (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 114.24 TWD is built from several models across several years. Other multiples: P/B 2.1, P/S 2.4, EV/EBITDA 10.4.
How solid is the balance sheet of Proxene Tools Co., Ltd. (6904)?
Balance-sheet figures for Proxene Tools Co., Ltd. (as of Nov 9, 2026): return on equity 14.5%, debt of 0.20 per unit of equity. They feed the Quality Score of 61/100, which measures business quality independently of the share price.
How far is 6904 from its 52-week high?
Proxene Tools Co., Ltd. trades at 114.50 TWD, about 10% below its 52-week high of 127.28 TWD and 5% above the low of 108.55 TWD (as of Nov 5, 2026). Distance from the high says nothing about value: that is what the fair value of 114.24 TWD is for.
Which stocks are comparable to Proxene Tools Co., Ltd.?
From the same area (Industrials) we also value Techtronic Industries Company, Snap-on Incorporated, Stanley Black & Decker, Inc, Lincoln Electric Holdings, 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 Proxene Tools Co., Ltd. stock attractive at the current price?
The data as of Nov 9, 2026: price 114.50 TWD, calculated fair value 114.24 TWD (−0%), Quality Score 61/100, 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 6904 calculated?
We run Proxene Tools Co., Ltd. through 24 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 114.24 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. Proxene Tools 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 Proxene Tools Co., Ltd. (6904)?
The closing price on Nov 5, 2026 was 114.50 TWD. Our model-based fair value is 114.24 TWD, about 0% lower (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Proxene Tools Co., Ltd. right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. The price sits in the upper half of our model range, so the margin of safety is thin. The data supports the verdict: every model runs on fully documented inputs.
Key figures of Proxene Tools Co., Ltd.
How large is the market capitalisation of Proxene Tools Co., Ltd. (6904)?
The market capitalisation of Proxene Tools Co., Ltd. is 2.1B TWD (≈ $64.5M). 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 Proxene Tools Co., Ltd. (6904)?
The price-to-sales ratio of Proxene Tools Co., Ltd. is 2.37 (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 Proxene Tools Co., Ltd. (6904)?
Earnings per share at Proxene Tools Co., Ltd. are 7.47 TWD (price ÷ EPS = P/E 15.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Proxene Tools Co., Ltd. (6904)?
The dividend yield of Proxene Tools Co., Ltd. is 4.4% (payout 66.9%). 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 Proxene Tools Co., Ltd. (6904)?
The net margin of Proxene Tools Co., Ltd. is 15.8% (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 Proxene Tools Co., Ltd. (6904)?
The return on equity (ROE) of Proxene Tools Co., Ltd. is 14.5% (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 Proxene Tools Co., Ltd. (6904)?
On an EBIT basis the return on assets of Proxene Tools Co., Ltd. is 12.6% (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 Proxene Tools Co., Ltd. (6904)?
The operating margin of Proxene Tools Co., Ltd. is 12.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Proxene Tools Co., Ltd. (6904)?
Revenue at Proxene Tools Co., Ltd. is growing +24.2% versus a year earlier (3y avg −1.6%). 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 Proxene Tools Co., Ltd. (6904)?
Earnings per share at Proxene Tools Co., Ltd. are growing +17.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Proxene Tools Co., Ltd. (6904) carry?
The net debt of Proxene Tools Co., Ltd. is 139M TWD (fiscal year 2024, ≈ 0.5 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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Broad data
Nov 9, 2026