Wah Hong Industrial (8240) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Wah Hong Industrial stock TWD 39.59, price TWD 42.65, that is 7.2% below the price, quality 60 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 8, 2026.
How to read this chart
60‑month range 23.01 TWD – 74.80 TWD · fair‑value band 31.19 TWD – 54.09 TWD · the 42.65 TWD price screens above the 39.59 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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Wah Hong Industrial Corp. manufactures and sells LCD materials, including diffusing film, reflective film, and optical films, as well as bulk molding compound (BMC) materials and molded products in Taiwan, China, and internationally.
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The company offers opto-electronics material comprising optical film, optical plate, and touch panel material; and precise coating products, such as protective film, screen protector, ASF, thermal and UV release tapes, QFN tape, OEM/ODM coating service, surface coating, and adhesive formulation.
It also provides BMC bulk molding materials, granular thermoset molding materials, functional engineering plastics, composite materials, functional engineering plastics, lithium battery materials and cells, lithium battery module, and power module packaging materials.
In addition, the company offers graphite thermal sheet, microcrystal copper, solid air heat insulation sheet, heat pipe / vapor chambers / 3D VC, air thermal module, liquid cooling module, and PCI chamber module; and precision processing products, such as G2 retainer rings, contour Cu and Oxi, UTE inner ring and outer ring, EVO (B&C) retainer ring, and roller housing and idler rollers.
It serves sporting goods, automobile, communication, and electronics industries. The company was formerly known as Wah Hong Chemical Corp. and changed its name to Wah Hong Industrial Corp. in 1997. Wah Hong Industrial Corp. was incorporated in 1973 and is headquartered in Kaohsiung, Taiwan.
Stock analysis
Wah Hong Industrial (8240) currently trades at 42.65 TWD, while our model-based Fair Value estimate is 39.59 TWD, so the stock looks roughly fairly valued today (gap 7.7%).
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Valuation
Bull case: the Multiples group reads highest at a median of 49.08 TWD per share, and 7 of the 24 models we run sit above the 42.65 TWD price.
Bear case: the Dividend Discount group reads lowest at 11.68 TWD, and 17 of the 24 models stay below the price. Data coverage for this calculation is high.
Scenario range: 31.19 TWD (bear) to 54.09 TWD (bull), the price of 42.65 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 60/100 (solid quality), in the Technology sector.
Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.
Wah Hong Industrial reported revenue of 7.1B TWD in FY2025 versus 11.0B TWD in FY2021, a compound −10.2%/yr. Reported net income was 218M TWD in FY2025, compounding −15.6%/yr from FY2021.
Key figures
Market cap 4.3B TWD (≈ $130M) Micro · P/E ratio 18.4 · P/S ratio 0.63 · EPS (TTM) 2.32 TWD · Dividend yield 3.0% · Net margin 3.5% · Return on equity 5.1% · Return on assets (EBIT) 4.7% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 34 out of 100 (medium confidence).
What moves the price
The share trades about 43% below its 52-week high and 37% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Technology peers we cover trades at −7% fair-value upside, at −7%, 8240 screens richer than that median.
Fair Value models
Bear31.19 TWDFair Value 39.59 TWDBull54.09 TWD
Price 42.65 TWD · Downside -7.2%
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 (0.8747 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
−5.0%
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.
−8.1%
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.
−7.1%
Start year 2020 (pandemic). Over 10 years: −2.9% a year
Revenue growth 16 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.
+0.4%
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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.
+3.0%
Earnings growth per share plus dividend.
Earnings per share, growth per year+0.0%
Dividend (yield on the price)3.0%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.base effect: 0.0% / 8.7%
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.4% → 4%
Pace: the 5-year rate starts in 2020 (pandemic)
⚠ Revenue per share shrinking 3.9%/yr over ~10Y (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).
+11.2%
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 +9.5% a year for the price.
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.Electronic Components · 653 stocks
Beats the industry median on 8/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score60 · Above median
Fair Value upside−7.2% · Above median
Profitability
Return on equity (12 months)5.1% · Below median
Return on assets3.0% · Below median
Net margin (12 months)3.5% · Below median
Operating margin (12 months)1.3% · Below median
Growth and dividend
Revenue growth (quarter YoY)−5.6% · Bottom 25%
Dividend yield (12 months)3.0% · Top 25%
Balance sheet
Debt / equity0.10× · Above median
Valuation Multiplesvs Electronic Components median · lower = cheaper
P/E (12 months)18.4× · Cheaper than median
P/B0.94× · Cheapest 25%
P/S (12 months)0.63× · Cheapest 25%
Price / free cash flow (fiscal year)17.4× · Cheaper than median
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). "Wah Hong Industrial Fair Value". https://www.fairvalue-calculator.com/stock/8240
Frequently asked questions
Is Wah Hong Industrial (8240) overvalued or undervalued?
As of Nov 8, 2026, our model estimates a fair value of 39.59 TWD versus a price of 42.65 TWD, about 7% lower (fairly valued).
What is the fair value of 8240?
Our model-based fair value for Wah Hong Industrial is 39.59 TWD (as of Nov 8, 2026), built from audited fundamentals. The current price: 42.65 TWD.
What is the quality score of 8240?
Wah Hong Industrial has a Quality Score of 60/100. 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 Wah Hong Industrial (8240)?
Our model-based price target is the fair value of 39.59 TWD (as of Nov 8, 2026) from 24 valuation models. Cautious scenario 31.19 TWD, optimistic scenario 54.09 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Wah Hong Industrial stock forecast for 2026?
Our models put fair value at 39.59 TWD, about 7% lower versus a price of 42.65 TWD (fairly valued). Cautious scenario 31.19 TWD, optimistic scenario 54.09 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Wah Hong Industrial (8240)?
Wah Hong Industrial reported trailing-twelve-month revenue of about 6.8B TWD (latest available figure, as of Nov 8, 2026).
Does Wah Hong Industrial pay a dividend?
Wah Hong Industrial currently shows a dividend yield of 3.05% relative to its recent price (as of Nov 8, 2026).
How much is the dividend of Wah Hong Industrial (8240) and when is the ex-dividend date?
Wah Hong Industrial pays a dividend of 1.30 TWD per share a year, a dividend yield of 3.0%. The last ex-dividend date was Jul 1, 2026. A dividend has been paid every year since 2019. The payout ratio is 56.0% of earnings. Free cash flow covers the dividend 1.88 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 Wah Hong Industrial (8240)?
For today's price to be fair in a discounted-cash-flow model, Wah Hong Industrial would have to grow free cash flow by +11.2 % 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 -7.1 % per year. As of Nov 8, 2026.
What discount rate (WACC) does the fair value of 8240 use?
Our models discount Wah Hong Industrial 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 Wah Hong Industrial that is +11.2 % 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 Wah Hong Industrial (8240) delivered so far?
Over the past 5 years revenue at Wah Hong Industrial grew -7.1 % a year. The price currently implies free-cash-flow growth of +11.2 % 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 Wah Hong Industrial (8240) growing?
The median revenue growth in the sector is +11.5 % a year. That is the yardstick for the growth priced into Wah Hong Industrial (+11.2 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Wah Hong Industrial (8240)?
The free-cash-flow yield on the price is 5.74 %: that much free cash flow Wah Hong Industrial 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 Wah Hong Industrial (8240)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Wah Hong Industrial it is 39.59 TWD per share (as of Nov 8, 2026), against a price of 42.65 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 Wah Hong Industrial stock overvalued or undervalued in 2026?
As of Nov 8, 2026, 8240 trades above its calculated fair value: price 42.65 TWD, fair value 39.59 TWD, a gap of about −7% (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 8240?
No. The price is what the market pays today (42.65 TWD); the fair value is what the company's own numbers justify (39.59 TWD). For Wah Hong Industrial the two are 3.06 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Wah Hong Industrial worth?
The market values Wah Hong Industrial at about 4.3B TWD (market capitalisation, as of Nov 8, 2026). Per share that is 42.65 TWD; our models calculate a fair value of 39.59 TWD per share.
What do the bullish and bearish scenarios say about 8240?
Our models span a range for Wah Hong Industrial: cautious scenario 31.19 TWD, base 39.59 TWD, optimistic 54.09 TWD per share (as of Nov 8, 2026, price 42.65 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 8240?
Wah Hong Industrial trades at a price-to-earnings ratio of 18.4 (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 39.59 TWD is built from several models across several years. Median P/E at fiscal year-end, 9 fiscal years (2017 to 2025), reported earnings: 15.2. Other multiples: P/B 0.9, P/S 0.6, EV/EBITDA 8.2.
How solid is the balance sheet of Wah Hong Industrial (8240)?
Balance-sheet figures for Wah Hong Industrial (as of Nov 8, 2026): return on equity 5.1%, debt of 0.10 per unit of equity. They feed the Quality Score of 60/100, which measures business quality independently of the share price.
How far is 8240 from its 52-week high?
Wah Hong Industrial trades at 42.65 TWD, about 43% below its 52-week high of 74.80 TWD and 37% above the low of 31.10 TWD (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 39.59 TWD is for.
Which stocks are comparable to Wah Hong Industrial?
From the same area (Technology) we also value Amphenol Corporation, Hon Hai Precision Industry Co, Corning Incorporated, Delta Electronics, Inc, 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 Wah Hong Industrial stock attractive at the current price?
The data as of Nov 8, 2026: price 42.65 TWD, calculated fair value 39.59 TWD (−7%), Quality Score 60/100, 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 8240 calculated?
We run Wah Hong Industrial 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 39.59 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. Wah Hong Industrial 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 Wah Hong Industrial (8240)?
The closing price on Nov 6, 2026 was 42.65 TWD. Our model-based fair value is 39.59 TWD, about 7% lower (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Wah Hong Industrial 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.
Where does the earnings growth of Wah Hong Industrial (8240) come from?
Earnings per share at Wah Hong Industrial grew +4.7 % a year from 2012 to 2023. Broken into its drivers: revenue per share −2.6 %, EBIT margin +6.2 %, tax rate +0.7 %, residual (interest, one-offs) +0.5 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Wah Hong Industrial
How large is the market capitalisation of Wah Hong Industrial (8240)?
The market capitalisation of Wah Hong Industrial is 4.3B TWD (≈ $130M). 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 Wah Hong Industrial (8240)?
The price-to-sales ratio of Wah Hong Industrial is 0.63 (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 Wah Hong Industrial (8240)?
Earnings per share at Wah Hong Industrial are 2.32 TWD (price ÷ EPS = P/E 18.4). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Wah Hong Industrial (8240)?
The dividend yield of Wah Hong Industrial is 3.0% (payout 56.0%). 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 Wah Hong Industrial (8240)?
The net margin of Wah Hong Industrial is 3.5% (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 Wah Hong Industrial (8240)?
The return on equity (ROE) of Wah Hong Industrial is 5.1% (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 Wah Hong Industrial (8240)?
On an EBIT basis the return on assets of Wah Hong Industrial is 4.7% (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 Wah Hong Industrial (8240)?
The operating margin of Wah Hong Industrial is 1.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Wah Hong Industrial (8240)?
Revenue at Wah Hong Industrial is growing −5.6% versus a year earlier (3y avg −8.1%). 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 Wah Hong Industrial (8240)?
Earnings per share at Wah Hong Industrial are growing +208% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Wah Hong Industrial (8240) carry?
The net debt of Wah Hong Industrial is 626M TWD (fiscal year 2023, ≈ 2.6 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