Paiho Shih Holdings Corp (8404) fair value: what the stock is really worth
As of Nov 9, 2026: fair value (intrinsic value) of Paiho Shih Holdings Corp stock TWD 16.50, price TWD 12.05, upside +36.9%, quality 38 out of 100. Rating: undervalued. 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 8, 2026.
How to read this chart
60‑month range 12.05 TWD – 44.59 TWD · fair‑value band 13.32 TWD – 18.43 TWD · the 12.05 TWD price screens below the 16.50 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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Paiho Shih Holdings Corporation, through its subsidiaries, engages in the production and sale of touch fastener, webbing, elastic, and jacquard engineered mesh products in China and Vietnam.
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The company offers touch fastener, easy tapes, and adhesive tapes; and elastic series, including elastic-knitting, webbing-woven, and braided elastic drawcord series.
It also provides webbing-knitting and webbing-woven; drawcord products comprising knitted series, woven-knitted, and braided series; and knitted jacquard mesh and woven jacquard fabric.
In addition, the company is involved in international investment and trade business; provision of commercial property management, planning consultation, sales, development, leasing, and design and decoration services; and production and sale of face masks and non-woven fabric products.
Its products are used in clothing, shoes, medical, transportation, electronics, and home applications. The company was founded in 1995 and is headquartered in Changhua, Taiwan. Paiho Shih Holdings Corporation operates as a subsidiary of Paiho Int'l Limited.
Stock analysis
Paiho Shih Holdings Corp (8404) currently trades at 12.05 TWD, while our model-based Fair Value estimate is 16.50 TWD, implying the stock looks roughly 27% undervalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of 32.49 TWD per share, and 10 of the 16 models we run sit above the 12.05 TWD price.
Bear case: the Dividend Discount group reads lowest at 1.74 TWD, and 6 of the 16 models stay below the price. Data coverage for this calculation is low.
Scenario range: 13.32 TWD (bear) to 18.43 TWD (bull), the price of 12.05 TWD sits below 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 38/100 (below-average quality), in the Consumer Cyclical sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Paiho Shih Holdings Corp reported revenue of 7.6B TWD in FY2025 versus 10.1B TWD in FY2021, a compound −7.0%/yr. Reported net income was 602M TWD in FY2025, compounding −16.7%/yr from FY2021.
Key figures
Market cap 5.1B TWD (≈ $154M) Micro · P/E ratio 14.7 · P/S ratio 0.66 · EPS (TTM) 0.8200 TWD · Dividend yield 4.1% · Net margin 4.6% · Return on equity 5.2% · Return on assets (EBIT) 6.5% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 34 out of 100 (low confidence).
What moves the price
The share trades about 53% below its 52-week high and at its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at 30% fair-value upside, at 37%, 8404 screens cheaper than that median.
Fair Value models
Bear13.32 TWDFair Value 16.50 TWDBull18.43 TWD
Price 12.05 TWD · Upside +36.9%
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 (0.2744 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.26/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+8.2%
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.
−2.1%
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.
+2.9%
Start year 2020 (pandemic). Over 10 years: +8.1% 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.
+7.4%
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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−1.1%
Dividend (yield on the price)4.1%
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.−1.1% vs 0.1%, steady
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.17% → 17%
Compare Paiho Shih Holdings Corp 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.Footwear & Accessories · 91 stocks
Beats the industry median on 9/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score38 · Bottom 25%
Fair Value upside+36.9% · Above median
Profitability
Return on equity (12 months)5.2% · Below median
Return on assets3.0% · Below median
Net margin (12 months)4.6% · Above median
Operating margin (12 months)9.2% · Above median
Growth and dividend
Revenue growth (quarter YoY)7.4% · Above median
Dividend yield (12 months)4.1% · Above median
Balance sheet
Debt / equity0.56× · Highest 25%
Valuation Multiplesvs Footwear & Accessories median · lower = cheaper
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Is Paiho Shih Holdings Corp (8404) overvalued or undervalued?
As of Nov 8, 2026, our model estimates a fair value of 16.50 TWD versus a price of 12.05 TWD, about +37% upside (undervalued).
What is the fair value of 8404?
Our model-based fair value for Paiho Shih Holdings Corp is 16.50 TWD (as of Nov 8, 2026), built from audited fundamentals. The current price: 12.05 TWD.
What is the quality score of 8404?
Paiho Shih Holdings Corp has a Quality Score of 38/100. 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 Paiho Shih Holdings Corp (8404)?
Our model-based price target is the fair value of 16.50 TWD (as of Nov 8, 2026) from 16 valuation models. Cautious scenario 13.32 TWD, optimistic scenario 18.43 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Paiho Shih Holdings Corp stock forecast for 2026?
Our models put fair value at 16.50 TWD, about +37% upside versus a price of 12.05 TWD (undervalued). Cautious scenario 13.32 TWD, optimistic scenario 18.43 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Paiho Shih Holdings Corp (8404)?
Paiho Shih Holdings Corp reported trailing-twelve-month revenue of about 7.7B TWD (latest available figure, as of Nov 8, 2026).
Does Paiho Shih Holdings Corp pay a dividend?
Paiho Shih Holdings Corp currently shows a dividend yield of 4.15% relative to its recent price (as of Nov 8, 2026).
How much is the dividend of Paiho Shih Holdings Corp (8404) and when is the ex-dividend date?
Paiho Shih Holdings Corp pays a dividend of 0.5 TWD per share a year, a dividend yield of 4.1%. The last ex-dividend date was Aug 4, 2026. The payout ratio is 61.0% of earnings. 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 is the intrinsic value of Paiho Shih Holdings Corp (8404)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Paiho Shih Holdings Corp it is 16.50 TWD per share (as of Nov 8, 2026), against a price of 12.05 TWD. It is the blended result of 16 valuation models in 6 families (Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings).
Is Paiho Shih Holdings Corp stock overvalued or undervalued in 2026?
As of Nov 8, 2026, 8404 trades below its calculated fair value: price 12.05 TWD, fair value 16.50 TWD, a gap of about +37% (undervalued). 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 8404?
No. The price is what the market pays today (12.05 TWD); the fair value is what the company's own numbers justify (16.50 TWD). For Paiho Shih Holdings Corp the two are 4.45 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Paiho Shih Holdings Corp worth?
The market values Paiho Shih Holdings Corp at about 5.1B TWD (market capitalisation, as of Nov 8, 2026). Per share that is 12.05 TWD; our models calculate a fair value of 16.50 TWD per share.
What do the bullish and bearish scenarios say about 8404?
Our models span a range for Paiho Shih Holdings Corp: cautious scenario 13.32 TWD, base 16.50 TWD, optimistic 18.43 TWD per share (as of Nov 8, 2026, price 12.05 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 8404?
Paiho Shih Holdings Corp trades at a price-to-earnings ratio of 14.7 (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 16.50 TWD is built from several models across several years. Other multiples: P/B 0.7, P/S 0.7, EV/EBITDA 3.7.
How solid is the balance sheet of Paiho Shih Holdings Corp (8404)?
Balance-sheet figures for Paiho Shih Holdings Corp (as of Nov 8, 2026): return on equity 5.2%, debt of 0.56 per unit of equity. They feed the Quality Score of 38/100, which measures business quality independently of the share price.
How far is 8404 from its 52-week high?
Paiho Shih Holdings Corp trades at 12.05 TWD, about 53% below its 52-week high of 25.80 TWD and at the low of 12.05 TWD (as of Nov 9, 2026). Distance from the high says nothing about value: that is what the fair value of 16.50 TWD is for.
Which stocks are comparable to Paiho Shih Holdings Corp?
From the same area (Consumer Cyclical) we also value NIKE, Inc, adidas AG, On Holding, Deckers Outdoor Corporation, 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 Paiho Shih Holdings Corp stock attractive at the current price?
The data as of Nov 8, 2026: price 12.05 TWD, calculated fair value 16.50 TWD (+37%), Quality Score 38/100, 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 8404 calculated?
We run Paiho Shih Holdings Corp through 16 models from 6 families: Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of 16.50 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. Paiho Shih Holdings Corp currently trades 27% 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 Paiho Shih Holdings Corp (8404)?
The closing price on Nov 9, 2026 was 12.05 TWD. Our model-based fair value is 16.50 TWD, about +37% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Paiho Shih Holdings Corp right now?
The large discount to fair value meets weak quality (38/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case (13.32 TWD). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
Where does the earnings growth of Paiho Shih Holdings Corp (8404) come from?
Earnings per share at Paiho Shih Holdings Corp grew −1.2 % a year from 2014 to 2025. Broken into its drivers: revenue per share +5.8 %, EBIT margin −0.7 %, tax rate −0.6 %, residual (interest, one-offs) −5.4 %. 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 Paiho Shih Holdings Corp
How large is the market capitalisation of Paiho Shih Holdings Corp (8404)?
The market capitalisation of Paiho Shih Holdings Corp is 5.1B TWD (≈ $154M). 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 Paiho Shih Holdings Corp (8404)?
The price-to-sales ratio of Paiho Shih Holdings Corp is 0.66 (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 Paiho Shih Holdings Corp (8404)?
Earnings per share at Paiho Shih Holdings Corp are 0.8200 TWD (price ÷ EPS = P/E 14.7). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Paiho Shih Holdings Corp (8404)?
The dividend yield of Paiho Shih Holdings Corp is 4.1% (payout 61.0%). 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 Paiho Shih Holdings Corp (8404)?
The net margin of Paiho Shih Holdings Corp is 4.6% (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 Paiho Shih Holdings Corp (8404)?
The return on equity (ROE) of Paiho Shih Holdings Corp is 5.2% (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 Paiho Shih Holdings Corp (8404)?
On an EBIT basis the return on assets of Paiho Shih Holdings Corp is 6.5% (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 Paiho Shih Holdings Corp (8404)?
The operating margin of Paiho Shih Holdings Corp is 9.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Paiho Shih Holdings Corp (8404)?
Revenue at Paiho Shih Holdings Corp is growing +7.4% versus a year earlier (3y avg −2.1%). 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 Paiho Shih Holdings Corp (8404)?
Earnings per share at Paiho Shih Holdings Corp are growing −66.7% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Paiho Shih Holdings Corp (8404) generate?
The free cash flow of Paiho Shih Holdings Corp is −368M TWD (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Paiho Shih Holdings Corp (8404) carry?
The net debt of Paiho Shih Holdings Corp is 8.5B TWD (fiscal year 2025). 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 8, 2026