Cleanaway Co Ltd (8422) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Cleanaway Co Ltd stock TWD 12.71, price TWD 22.80, that is 44.3% below the price, quality 50 out of 100. Rating: strongly overvalued. Calculated from audited financials with 16 of our 26 valuation models and 37 quality factors, updated daily.
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Cleanaway Co Ltd
8422 · TWOur calculation puts a fair price 44% below what the stock costs today.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 5, 2026.
How to read this chart
60‑month range 20.90 TWD – 246.50 TWD · fair‑value band 6.76 TWD – 18.17 TWD · the 22.80 TWD price screens above the 12.71 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 5, 2026.
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Company profile
Cleanaway Company Limited operates as an intermediate treatment solidification company in the waste disposal process in Taiwan, Mainland China, Vietnam, Malaysia, and internationally.
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It operates through eight segments: Solidification and Excavation Department, Landfill Department, Transportation Department, Mainland Business Department, Investment Department, Papermaking Department, Power Sales Department and Ready-Mixed Concrete Department.
The company offers intermediate treatment for hazardous industrial waste and pollution; undertakes disposal site remediation projects; contaminated and illegal dump sites cleanup; landfill for hazardous industrial waste intermediate treatment products and general industrial waste; and waste removal services.
It also manufactures and sells kraft paper, paper for electronic carriers, paper for paper tubes, and other types of paper products. In addition, the company offers solar power generation and renewable energy power sales; and manufacturing and sales of ready-mixed concrete.
The company was formerly known as Cleanaway Kang Lien Co Ltd. and changed its name to Cleanaway Company Limited in May 2009. Cleanaway Company Limited was incorporated in 1999 and is headquartered in Kaohsiung, Taiwan.
Stock analysis
Cleanaway Co Ltd (8422) currently trades at 22.80 TWD, while our model-based Fair Value estimate is 12.71 TWD, 44% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 19.27 TWD per share, and 1 of the 16 models we run sit above the 22.80 TWD price.
Bear case: the Asset-Based group reads lowest at 4.16 TWD, and 15 of the 16 models stay below the price. Data coverage for this calculation is low.
Scenario range: 6.76 TWD (bear) to 18.17 TWD (bull), the price of 22.80 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 50/100 (solid quality), in the Industrials sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Cleanaway Co Ltd reported revenue of 4.8B TWD in FY2025 versus 3.0B TWD in FY2021, a compound +12.1%/yr. Reported net income was 1.5B TWD in FY2025, compounding +6.1%/yr from FY2021.
Key figures
Market cap 31.6B TWD (≈ $961M) Small · P/E ratio 23.5 · P/S ratio 5.81 · EPS (TTM) 0.9700 TWD · Dividend yield 3.2% · Net margin 24.0% · Return on equity 12.8% · Return on assets (EBIT) 11.4% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 68 out of 100 (low confidence).
What moves the price
The share trades about 56% below its 52-week high and 9% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −25% fair-value upside, at −44%, 8422 screens richer than that median.
Fair Value models
All 16 models by family
Quality Score breakdown
It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.
Revenue & earnings trend
8422 screens overvalued: fair value 44% below the price. Compare with Waste Management, Inc →
Compare Cleanaway Co Ltd with another stock
Price, fair value, quality and upside side by side.
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.Waste Management · 155 stocks
Valuation Multiplesvs Waste Management median · lower = cheaper
Strength profile in five axes (Snowflake)
VALUE 0: the price sits above our fair-value range.
Context: sector, industry, market
- Is the Industrials sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- Price/FCF by industry
- Debt-to-equity by industry
- Piotroski F-Score screener with fair value
- Undervalued stocks: Industrials
- Undervalued stocks: Taiwanese Stocks
- Valuation of the Taiwan market
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Waste Management stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value | Compare |
|---|---|---|---|---|
| Waste Management, Inc WM | $236.26 | $259.89 | +10% | vs 8422 |
| Waste Connections, Inc WCN | $189.07 | $199.18 | +5% | vs 8422 |
| Fomento de Construcciones y Contratas, S.A FCC | €10.42 | €9.99 | −4% | vs 8422 |
| GEM Co 002340 | ¥5.81 | ¥5.27 | −9% | vs 8422 |
| GFL Environmental Inc GFL | $46.32 | $34.54 | −25% | vs 8422 |
| Veolia Environnement SA VIE | €33.78 | €20.39 | −40% | vs 8422 |
| Clean Harbors, Inc CLH | $284.10 | $155.54 | −45% | vs 8422 |
| Republic Services, Inc RSG | $246.85 | $129.29 | −48% | vs 8422 |
| Cleanaway Waste Management Limited CWY | A$3.01 | A$1.25 | −58% | vs 8422 |
| Casella Waste Systems, Inc CWST | $98.21 | $14.30 | −85% | vs 8422 |
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Key figures of Cleanaway Co Ltd
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