Taiwan Hon Chuan Enterprise Co Ltd (9939) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Taiwan Hon Chuan Enterprise Co Ltd stock TWD 127, price TWD 120, upside +6.3%, quality 49 out of 100. Rating: fairly valued. 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 5, 2026.
How to read this chart
60‑month range 58.00 TWD – 175.50 TWD · fair‑value band 88.94 TWD – 165.17 TWD · the 119.50 TWD price screens below the 127.06 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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Taiwan Hon Chuan Enterprise Co., Ltd. manufactures and sells various packaging materials for the food and beverage industries in Taiwan, Mainland China, Southeast Asia, and internationally.
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The company offers plastic caps, preforms, PET bottles, labels, claw caps, and aluminum caps, and other products; and LDPE shrink films. It also provides beverage filling contract manufacturing; and packaging and filling services, as well as involved in international investment business.
The company was formerly known as Hon Chuan Metal Development Co., Ltd. and changed its name to Taiwan Hon Chuan Enterprise Co., Ltd. in 1999. Taiwan Hon Chuan Enterprise Co., Ltd. was incorporated in 1969 and is headquartered in Taichung, Taiwan.
Stock analysis
Taiwan Hon Chuan Enterprise Co Ltd (9939) currently trades at 119.50 TWD, while our model-based Fair Value estimate is 127.06 TWD, so the stock looks roughly fairly valued today (gap 5.9%).
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Valuation
Bull case: the Multiples group reads highest at a median of 131.53 TWD per share, and 5 of the 16 models we run sit above the 119.50 TWD price.
Bear case: the Asset-Based group reads lowest at 44.60 TWD, and 11 of the 16 models stay below the price. Data coverage for this calculation is high.
Scenario range: 88.94 TWD (bear) to 165.17 TWD (bull), the price of 119.50 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 49/100 (below-average quality), in the Consumer Cyclical sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Taiwan Hon Chuan Enterprise Co Ltd reported revenue of 28.9B TWD in FY2025 versus 21.4B TWD in FY2021, a compound +7.8%/yr. Reported net income was 2.7B TWD in FY2025, compounding +8.2%/yr from FY2021.
Key figures
Market cap 36.2B TWD (≈ $1.1B) Small · P/E ratio 10.9 · P/S ratio 1.23 · EPS (TTM) 10.98 TWD · Dividend yield 5.2% · Net margin 11.1% · Return on equity 17.9% · Return on assets (EBIT) 8.3% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 56 out of 100 (low confidence).
What moves the price
The share trades about 17% below its 52-week high and 9% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at −24% fair-value upside, at 6%, 9939 screens cheaper than that median.
Fair Value models
Bear88.94 TWDFair Value 127.06 TWDBull165.17 TWD
Price 119.50 TWD · Upside +6.3%
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 (4.09 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.49/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+1.6%
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.
+5.4%
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.
+8.3%
Start year 2020 (pandemic). Over 10 years: +5.7% a year
Revenue growth 25 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.
+12.6%
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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.
+14.0%
Earnings growth per share plus dividend.
Earnings per share, growth per year+8.8%
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.8.8% vs 9.3%, 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.12% → 13%
Compare Taiwan Hon Chuan Enterprise 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.Packaging & Containers · 260 stocks
Beats the industry median on 10/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score49 · Below median
Fair Value upside+6.3% · Above median
Profitability
Return on equity (12 months)17.9% · Top 25%
Return on assets5.8% · Above median
Net margin (12 months)11.1% · Top 25%
Operating margin (12 months)18.6% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)12.1% · Above median
Dividend yield (12 months)5.2% · Top 25%
Balance sheet
Debt / equity0.58× · Highest 25%
Valuation Multiplesvs Packaging & Containers 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). "Taiwan Hon Chuan Enterprise Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/9939
Frequently asked questions
Is Taiwan Hon Chuan Enterprise Co Ltd (9939) overvalued or undervalued?
As of Nov 5, 2026, our model estimates a fair value of 127.06 TWD versus a price of 119.50 TWD, about +6% upside (fairly valued).
What is the fair value of 9939?
Our model-based fair value for Taiwan Hon Chuan Enterprise Co Ltd is 127.06 TWD (as of Nov 5, 2026), built from audited fundamentals. The current price: 119.50 TWD.
What is the quality score of 9939?
Taiwan Hon Chuan Enterprise Co Ltd has a Quality Score of 49/100. 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 Taiwan Hon Chuan Enterprise Co Ltd (9939)?
Our model-based price target is the fair value of 127.06 TWD (as of Nov 5, 2026) from 16 valuation models. Cautious scenario 88.94 TWD, optimistic scenario 165.17 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Taiwan Hon Chuan Enterprise Co Ltd stock forecast for 2026?
Our models put fair value at 127.06 TWD, about +6% upside versus a price of 119.50 TWD (fairly valued). Cautious scenario 88.94 TWD, optimistic scenario 165.17 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Taiwan Hon Chuan Enterprise Co Ltd (9939)?
Taiwan Hon Chuan Enterprise Co Ltd reported trailing-twelve-month revenue of about 29.4B TWD (latest available figure, as of Nov 5, 2026).
Does Taiwan Hon Chuan Enterprise Co Ltd pay a dividend?
Taiwan Hon Chuan Enterprise Co Ltd currently shows a dividend yield of 5.19% relative to its recent price (as of Nov 5, 2026).
How much is the dividend of Taiwan Hon Chuan Enterprise Co Ltd (9939) and when is the ex-dividend date?
Taiwan Hon Chuan Enterprise Co Ltd pays a dividend of 6.20 TWD per share a year, a dividend yield of 5.2%. The last ex-dividend date was Jul 2, 2026. The payout ratio is 56.5% 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 Taiwan Hon Chuan Enterprise Co Ltd (9939)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Taiwan Hon Chuan Enterprise Co Ltd it is 127.06 TWD per share (as of Nov 5, 2026), against a price of 119.50 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 Taiwan Hon Chuan Enterprise Co Ltd stock overvalued or undervalued in 2026?
As of Nov 5, 2026, 9939 trades below its calculated fair value: price 119.50 TWD, fair value 127.06 TWD, a gap of about +6% (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 9939?
No. The price is what the market pays today (119.50 TWD); the fair value is what the company's own numbers justify (127.06 TWD). For Taiwan Hon Chuan Enterprise Co Ltd the two are 7.56 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Taiwan Hon Chuan Enterprise Co Ltd worth?
The market values Taiwan Hon Chuan Enterprise Co Ltd at about 36.2B TWD (market capitalisation, as of Nov 5, 2026). Per share that is 119.50 TWD; our models calculate a fair value of 127.06 TWD per share.
What do the bullish and bearish scenarios say about 9939?
Our models span a range for Taiwan Hon Chuan Enterprise Co Ltd: cautious scenario 88.94 TWD, base 127.06 TWD, optimistic 165.17 TWD per share (as of Nov 5, 2026, price 119.50 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 9939?
Taiwan Hon Chuan Enterprise Co Ltd trades at a price-to-earnings ratio of 10.9 (as of Nov 5, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 127.06 TWD is built from several models across several years. Median P/E at fiscal year-end, 10 fiscal years (2016 to 2025), reported earnings: 13.2. Other multiples: PEG 0.6, P/B 1.8, P/S 1.2, EV/EBITDA 6.5.
What is the PEG ratio of 9939?
The PEG ratio of Taiwan Hon Chuan Enterprise Co Ltd is 0.64 (P/E divided by earnings growth, as of Nov 5, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Taiwan Hon Chuan Enterprise Co Ltd (9939)?
Balance-sheet figures for Taiwan Hon Chuan Enterprise Co Ltd (as of Nov 5, 2026): return on equity 17.9%, debt of 0.58 per unit of equity. They feed the Quality Score of 49/100, which measures business quality independently of the share price.
How far is 9939 from its 52-week high?
Taiwan Hon Chuan Enterprise Co Ltd trades at 119.50 TWD, about 17% below its 52-week high of 144.50 TWD and 9% above the low of 110.00 TWD (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 127.06 TWD is for.
Which stocks are comparable to Taiwan Hon Chuan Enterprise Co Ltd?
From the same area (Consumer Cyclical) we also value Smurfit Westrock Plc,, Packaging Corporation, Amcor plc, International Paper Company, 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 Taiwan Hon Chuan Enterprise Co Ltd stock attractive at the current price?
The data as of Nov 5, 2026: price 119.50 TWD, calculated fair value 127.06 TWD (+6%), Quality Score 49/100, 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 9939 calculated?
We run Taiwan Hon Chuan Enterprise 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 127.06 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. Taiwan Hon Chuan Enterprise Co Ltd currently trades 6% 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 Taiwan Hon Chuan Enterprise Co Ltd (9939)?
The closing price on Nov 6, 2026 was 119.50 TWD. Our model-based fair value is 127.06 TWD, about +6% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Taiwan Hon Chuan Enterprise Co Ltd right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. A fairly wide model range (88.94 TWD to 165.17 TWD) leaves room in how you read the outcome.
Where does the earnings growth of Taiwan Hon Chuan Enterprise Co Ltd (9939) come from?
Earnings per share at Taiwan Hon Chuan Enterprise Co Ltd grew +10.9 % a year from 2014 to 2025. Broken into its drivers: revenue per share +5.5 %, EBIT margin +5.0 %, tax rate −0.4 %, residual (interest, one-offs) +0.4 %. 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 Taiwan Hon Chuan Enterprise Co Ltd
How large is the market capitalisation of Taiwan Hon Chuan Enterprise Co Ltd (9939)?
The market capitalisation of Taiwan Hon Chuan Enterprise Co Ltd is 36.2B TWD (≈ $1.1B). 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 Taiwan Hon Chuan Enterprise Co Ltd (9939)?
The price-to-sales ratio of Taiwan Hon Chuan Enterprise Co Ltd is 1.23 (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 Taiwan Hon Chuan Enterprise Co Ltd (9939)?
Earnings per share at Taiwan Hon Chuan Enterprise Co Ltd are 10.98 TWD (price ÷ EPS = P/E 10.9). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Taiwan Hon Chuan Enterprise Co Ltd (9939)?
The dividend yield of Taiwan Hon Chuan Enterprise Co Ltd is 5.2% (payout 56.5%). 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 Taiwan Hon Chuan Enterprise Co Ltd (9939)?
The net margin of Taiwan Hon Chuan Enterprise Co Ltd is 11.1% (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 Taiwan Hon Chuan Enterprise Co Ltd (9939)?
The return on equity (ROE) of Taiwan Hon Chuan Enterprise Co Ltd is 17.9% (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 Taiwan Hon Chuan Enterprise Co Ltd (9939)?
On an EBIT basis the return on assets of Taiwan Hon Chuan Enterprise Co Ltd is 8.3% (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 Taiwan Hon Chuan Enterprise Co Ltd (9939)?
The operating margin of Taiwan Hon Chuan Enterprise Co Ltd is 18.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Taiwan Hon Chuan Enterprise Co Ltd (9939)?
Revenue at Taiwan Hon Chuan Enterprise Co Ltd is growing +12.1% versus a year earlier (3y avg +5.4%). 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 Taiwan Hon Chuan Enterprise Co Ltd (9939)?
Earnings per share at Taiwan Hon Chuan Enterprise Co Ltd are growing +85.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Taiwan Hon Chuan Enterprise Co Ltd (9939) generate?
The free cash flow of Taiwan Hon Chuan Enterprise Co Ltd is −1.1B 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 Taiwan Hon Chuan Enterprise Co Ltd (9939) carry?
The net debt of Taiwan Hon Chuan Enterprise Co Ltd is 18.8B 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 5, 2026