Alexander Marine Co Ltd (8478) fair value: what the stock is really worth
As of Nov 9, 2026: fair value (intrinsic value) of Alexander Marine Co Ltd stock TWD 187, price TWD 126, upside +48.4%, quality 43 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 48.17 TWD – 614.13 TWD · fair‑value band 130.85 TWD – 243.04 TWD · the 126.00 TWD price screens below the 186.94 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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Alexander Marine Co., Ltd. engages in the manufacture and sale of yachts in Taiwan, the United States, and Australia. It is also involved in the lease of real estate; sale of yacht repair parts; and provision of aftersales services.
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The company was incorporated in 1978 and is headquartered in Kaohsiung, Taiwan.
Stock analysis
Alexander Marine Co Ltd (8478) currently trades at 126.00 TWD, while our model-based Fair Value estimate is 186.94 TWD, implying the stock looks roughly 33% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 257.60 TWD per share, and 8 of the 16 models we run sit above the 126.00 TWD price.
Bear case: the Asset-Based group reads lowest at 54.60 TWD, and 8 of the 16 models stay below the price. Data coverage for this calculation is high.
Scenario range: 130.85 TWD (bear) to 243.04 TWD (bull), the price of 126.00 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 43/100 (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.
Alexander Marine Co Ltd reported revenue of 5.2B TWD in FY2025 versus 4.6B TWD in FY2021, a compound +3.5%/yr. Reported net income was 1.2B TWD in FY2025, compounding +9.9%/yr from FY2021.
Key figures
Market cap 11.8B TWD (≈ $361M) Small · P/E ratio 9.0 · P/S ratio 2.28 · EPS (TTM) 14.06 TWD · Dividend yield 5.2% · Net margin 26.0% · Return on equity 16.0% · Return on assets (EBIT) 13.7% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 69 out of 100 (low confidence).
What moves the price
The share trades about 40% below its 52-week high and 2% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at 47% fair-value upside, at 48%, 8478 screens cheaper than that median.
Fair Value models
Bear130.85 TWDFair Value 186.94 TWDBull243.04 TWD
Price 126.00 TWD · Upside +48.4%
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 (6.48 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 growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+5.8%
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.
−2.0%
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.
+4.4%
Start year 2020 (pandemic). Over 10 years: +12.4% a year
Revenue growth 13 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.
+20.5%
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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.
≈ +70.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year≈ +64.9%
Dividend (yield on the price)5.2%
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: 64.9% / 14.2%
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% → 22%
⚠ Base effect: the rate starts in the earnings trough around 2020 (starting value 1.04 per share, median 3.59 in 2015 to 2018). It measures the recovery from the trough, not lasting growth.
Compare Alexander Marine Co Ltd 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.Recreational Vehicles · 32 stocks
Beats the industry median on 8/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score43 · Below median
Fair Value upside+48.4% · Above median
Profitability
Return on equity (12 months)16.0% · Top 25%
Return on assets7.7% · Top 25%
Net margin (12 months)26.0% · Top 25%
Operating margin (12 months)22.3% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)−31.2% · Bottom 25%
Dividend yield (12 months)5.2% · Top 25%
Balance sheet
Debt / equity0.40× · Above median
Valuation Multiplesvs Recreational Vehicles median · lower = cheaper
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). "Alexander Marine Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/8478
Frequently asked questions
Is Alexander Marine Co Ltd (8478) overvalued or undervalued?
As of Nov 8, 2026, our model estimates a fair value of 186.94 TWD versus a price of 126.00 TWD, about +48% upside (undervalued).
What is the fair value of 8478?
Our model-based fair value for Alexander Marine Co Ltd is 186.94 TWD (as of Nov 8, 2026), built from audited fundamentals. The current price: 126.00 TWD.
What is the quality score of 8478?
Alexander Marine Co Ltd has a Quality Score of 43/100. 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 Alexander Marine Co Ltd (8478)?
Our model-based price target is the fair value of 186.94 TWD (as of Nov 8, 2026) from 16 valuation models. Cautious scenario 130.85 TWD, optimistic scenario 243.04 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Alexander Marine Co Ltd stock forecast for 2026?
Our models put fair value at 186.94 TWD, about +48% upside versus a price of 126.00 TWD (undervalued). Cautious scenario 130.85 TWD, optimistic scenario 243.04 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Alexander Marine Co Ltd (8478)?
Alexander Marine Co Ltd reported trailing-twelve-month revenue of about 5.2B TWD (latest available figure, as of Nov 8, 2026).
Does Alexander Marine Co Ltd pay a dividend?
Alexander Marine Co Ltd currently shows a dividend yield of 5.16% relative to its recent price (as of Nov 8, 2026).
How much is the dividend of Alexander Marine Co Ltd (8478) and when is the ex-dividend date?
Alexander Marine Co Ltd pays a dividend of 6.50 TWD per share a year, a dividend yield of 5.2%. The last ex-dividend date was Aug 10, 2026. A dividend has been paid every year since at least 2015. The payout ratio is 46.2% 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 Alexander Marine Co Ltd (8478)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Alexander Marine Co Ltd it is 186.94 TWD per share (as of Nov 8, 2026), against a price of 126.00 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 Alexander Marine Co Ltd stock overvalued or undervalued in 2026?
As of Nov 8, 2026, 8478 trades below its calculated fair value: price 126.00 TWD, fair value 186.94 TWD, a gap of about +48% (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 8478?
No. The price is what the market pays today (126.00 TWD); the fair value is what the company's own numbers justify (186.94 TWD). For Alexander Marine Co Ltd the two are 60.94 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Alexander Marine Co Ltd worth?
The market values Alexander Marine Co Ltd at about 11.8B TWD (market capitalisation, as of Nov 8, 2026). Per share that is 126.00 TWD; our models calculate a fair value of 186.94 TWD per share.
What do the bullish and bearish scenarios say about 8478?
Our models span a range for Alexander Marine Co Ltd: cautious scenario 130.85 TWD, base 186.94 TWD, optimistic 243.04 TWD per share (as of Nov 8, 2026, price 126.00 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 8478?
Alexander Marine Co Ltd trades at a price-to-earnings ratio of 9.0 (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 186.94 TWD is built from several models across several years. Median P/E at fiscal year-end, 9 fiscal years (2017 to 2025), reported earnings: 16.1. Other multiples: P/B 1.3, P/S 2.3, EV/EBITDA 8.9.
How solid is the balance sheet of Alexander Marine Co Ltd (8478)?
Balance-sheet figures for Alexander Marine Co Ltd (as of Nov 8, 2026): return on equity 16.0%, debt of 0.40 per unit of equity. They feed the Quality Score of 43/100, which measures business quality independently of the share price.
How far is 8478 from its 52-week high?
Alexander Marine Co Ltd trades at 126.00 TWD, about 40% below its 52-week high of 208.50 TWD and 2% above the low of 123.00 TWD (as of Nov 9, 2026). Distance from the high says nothing about value: that is what the fair value of 186.94 TWD is for.
Which stocks are comparable to Alexander Marine Co Ltd?
From the same area (Consumer Cyclical) we also value Zhejiang Cfmoto Power Co, Brunswick Corporation, BRP Inc, THOR Industries, 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 Alexander Marine Co Ltd stock attractive at the current price?
The data as of Nov 8, 2026: price 126.00 TWD, calculated fair value 186.94 TWD (+48%), Quality Score 43/100, 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 8478 calculated?
We run Alexander Marine Co Ltd 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 186.94 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. Alexander Marine Co Ltd currently trades 33% 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 Alexander Marine Co Ltd (8478)?
The closing price on Nov 9, 2026 was 126.00 TWD. Our model-based fair value is 186.94 TWD, about +48% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Alexander Marine Co Ltd right now?
The large discount to fair value meets weak quality (43/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case (130.85 TWD). The market is more pessimistic than our downside scenario. A fairly wide model range (130.85 TWD to 243.04 TWD) leaves room in how you read the outcome.
Where does the earnings growth of Alexander Marine Co Ltd (8478) come from?
Earnings per share at Alexander Marine Co Ltd grew +17.7 % a year from 2014 to 2025. Broken into its drivers: revenue per share +12.7 %, EBIT margin +7.7 %, tax rate −0.7 %, residual (interest, one-offs) −2.4 %. 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 Alexander Marine Co Ltd
How large is the market capitalisation of Alexander Marine Co Ltd (8478)?
The market capitalisation of Alexander Marine Co Ltd is 11.8B TWD (≈ $361M). 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 Alexander Marine Co Ltd (8478)?
The price-to-sales ratio of Alexander Marine Co Ltd is 2.28 (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 Alexander Marine Co Ltd (8478)?
Earnings per share at Alexander Marine Co Ltd are 14.06 TWD (price ÷ EPS = P/E 9.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Alexander Marine Co Ltd (8478)?
The dividend yield of Alexander Marine Co Ltd is 5.2% (payout 46.2%). 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 Alexander Marine Co Ltd (8478)?
The net margin of Alexander Marine Co Ltd is 26.0% (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 Alexander Marine Co Ltd (8478)?
The return on equity (ROE) of Alexander Marine Co Ltd is 16.0% (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 Alexander Marine Co Ltd (8478)?
On an EBIT basis the return on assets of Alexander Marine Co Ltd is 13.7% (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 Alexander Marine Co Ltd (8478)?
The operating margin of Alexander Marine Co Ltd is 22.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Alexander Marine Co Ltd (8478)?
Revenue at Alexander Marine Co Ltd is growing −31.2% versus a year earlier (3y avg −2.0%). 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 Alexander Marine Co Ltd (8478)?
Earnings per share at Alexander Marine Co Ltd are growing −43.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Alexander Marine Co Ltd (8478) generate?
The free cash flow of Alexander Marine Co Ltd is −157M 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 Alexander Marine Co Ltd (8478) carry?
The net debt of Alexander Marine Co Ltd is 3.5B 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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Broad data
Nov 8, 2026