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Data-driven stock valuation

FST Corp. (KBSX) fair value: what the stock is really worth

As of Nov 10, 2026: fair value (intrinsic value) of FST Corp. stock $1.07, price $1.42, that is 24.7% below the price, quality 44 out of 100. Rating: overvalued. The value is an estimate: none of our valuation models currently carries, it draws on revenue and assets compared with similar companies. Updated daily.

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Consumer Cyclical US · Based in Taiwan · ISIN KYG3R23E1004

FC FST Corp. logo Thin data Nov 11, 2026

FST Corp.

KBSX · US
Expensive, weak quality

Our calculation puts a fair price 25% below what the stock costs today.

Solidly profitable · 11.5% net margin (TTM)
45% return on equity.
Quality 44/100
Expensive Growth (revenue 5y +11.7 %/yr in USD)
Moderate debt
Fair value $1.07 · Overvalued
Negative free cash flow
Trails peers (4/12)
Narrow moat 37/100 · thin data
Thin data
Estimate
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26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

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Price vs Fair Value

$14.08 $0.8400 Fair Value $1.07 Mar 2022 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 11, 2026.

How to read this chart

56‑month range $0.8400 – $14.08 · fair‑value band $0.8000 – $1.34 · the $1.42 price screens above the $1.07 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 11, 2026.

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Company profile

FST Corp. develops, produces, and sells golf shafts and other sports equipment under the KBS brand in Taiwan and internationally.

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The company provides shafts for irons, such as KBS TOUR series that can be fitted into iron golf clubs, pitching wedge, and sand wedge; KBS TOUR LITE series provides tight dispersion, trajectory, additional spin, and longer distance in a lightweight package; KBS TOUR-V series, a steel shaft that features larger outer diameters; KBS 560 and 580 series developed for junior developing players; KBS MAX 80 Series, a lightweight shaft designed for mid-high handicap players; KBS Tour $-Taper series provides shot workability and tight dispersion; and KBS Tour $-Taper Light series, a lightweight tour performance golf club shaft.

It offers shafts for wedges including KBS Wedge series for players seeking a similar feel to the KBS TOUR; KBS Tour 610 Wedge series shaft that delivers penetrating ball flight with controlled spin; KBS TOUR-V Wedge shaft to produce shots with a lower-mid trajectory and mid ball spin; and KBS HI-REV 2.0 wedge shaft series for higher ball launch.

In addition, the company provides shafts for putters, which include KBS Tour One Step Putter shaft for amplified feel along with reduction in vibrations; KBS CT Tour Putter shaft series designed for company's constant taper technology; and KBS GPS Graphite putter shaft designed as a balance performance shafts.

Further, it offers KBS Tour Graphite Hybrid Prototype, KBS Tour Graphite Iron, KBS MAX Graphite, KBS TD Driver/Wood, KBS PGI Players Graphite Iron, and KBS Players Graphite Hybrid PGH; C-TAPER Black Limited Edition, C-TAPER LITE Black Limited Edition steel shafts, TD Driver/Wood Limited Edition graphite shafts, HI-REV 2.0 Wedge Major Green Limited Edition series wedges, and HI-REV 2.0 Wedge Liberty Limited Edition wedges; golf accessories; and operates restaurant and bar.

FST Corp. was incorporated in 1976 and is headquartered in Chiayi, Taiwan.

Stock analysis

FST Corp. (KBSX) currently trades at $1.42, while our estimate is $1.07, 25% below the price, so the stock looks overvalued today.

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Valuation

None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Scenario range: $0.8000 (bear) to $1.34 (bull), the price of $1.42 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 44/100 (below-average quality), in the Consumer Cyclical sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

FST Corp. Ordinary Shares reported revenue of $48.0M in FY2025 versus $38.9M in FY2021, a compound +5.4%/yr. Reported net income was −$7.1M in FY2025.

Key figures

Market cap $63.6M Micro · P/E ratio 10.1 · P/S ratio 1.19 · EPS (TTM) $0.1400 · Net margin 11.5% · Return on equity 45.3% · Return on assets (EBIT) 1.4% (5-year average) · Operating margin 0.3%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 37 out of 100 (low confidence).

What moves the price

The share trades about 17% below its 52-week high and 69% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Consumer Cyclical peers we cover trades at 14% fair-value upside, at −25%, KBSX screens richer than that median.

Fair Value

Bear $0.8000 Fair Value $1.07 Bull $1.34
Price $1.42 · Downside -24.7%
Estimate. None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Quality Score breakdown

Overall quality 44/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 24
How much profit the company makes from its sales and capital
Quality Growth 70
Are margins and returns getting better?
Cashflow 5
Do the profits arrive as real cash?
Financial strength 26
Debt, balance sheet and risk of trouble
Investment 100
Does it invest with discipline instead of growing at any price?
Low Volatility 50
How calm the share price moves, does not count
Price momentum 59
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 47
Distance to the 52-week high, does not count
New shares 87
Buys back shares or issues new ones?

Open the full quality analysis →

Revenue & earnings trend

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. 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+31.4%
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.
−1.2%
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.
+11.7%
Start year 2020 (pandemic). Over 10 years: +14.6% a year
Revenue growth 10 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.
+14.6%
Profit margin (trend) ⓘ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.
4.9% (2020) → −7.1% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

KBSX screens overvalued: fair value 25% below the price. Compare with Pop Mart International Group →

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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.Leisure · 182 stocks

Beats the industry median on 4/12 measures
Overall it trails its industry peers.
Valuation
Quality Score 44 · Below median
Fair Value upside −24.7% · Below median
Profitability
Return on equity (12 months) 45.3% · Top 25%
Return on assets −11.9% · Bottom 25%
Net margin (12 months) 11.5% · Top 25%
Operating margin (12 months) 0.3% · Below median
Growth and dividend
Revenue growth (quarter YoY) 2.0% · Below median
Balance sheet
Debt / equity 1.01× · Highest 25%

Valuation Multiplesvs Leisure median · lower = cheaper

P/E (12 months) 10.1× · Cheapest 25%
P/B 6.79× · Priciest 25%
P/S (12 months) 1.19× · Cheaper than median
EV/EBITDA 13.1× · Pricier than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 33
FUTURE (revenue growth)10 · sector 26
PAST (return on equity)100 · sector 24
HEALTH (low debt)50 · sector 94
DIVIDEND (yield)0 · sector 48

VALUE 0: the price sits above our fair-value range.

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Leisure stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Li Ning Company 2331 HK$15.38 HK$29.34 +91% vs KBSX
Ninebot Limited 689009 ¥34.66 ¥52.88 +53% vs KBSX
Pop Mart International Group 9992 HK$146.60 HK$207.44 +42% vs KBSX
Mattel, Inc MAT $16.00 $22.25 +39% vs KBSX
Benefit Systems S.A BFT 5,915 PLN 6,771 PLN +14% vs KBSX
Planet Fitness, Inc PLNT $61.34 $66.34 +8% vs KBSX
Amer Sports, Inc AS $31.86 $19.17 −40% vs KBSX
Acushnet Holdings GOLF $85.03 $44.21 −48% vs KBSX
Life Time Group LTH $47.42 $16.00 −66% vs KBSX
Hasbro, Inc HAS $121.82 $32.71 −73% vs KBSX

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FST Corp. Ordinary Shares: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "FST Corp. Ordinary Shares Fair Value". https://www.fairvalue-calculator.com/stock/KBSX

Frequently asked questions

Is FST Corp. (KBSX) overvalued or undervalued?
As of Nov 11, 2026, our estimate of fair value is $1.07 versus a price of $1.42, about 25% lower (overvalued).
What is the fair value of KBSX?
Our estimate for FST Corp. is $1.07 (as of Nov 11, 2026), built from audited fundamentals. The current price: $1.42.
What is the quality score of KBSX?
FST Corp. has a Quality Score of 44/100. 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 FST Corp. (KBSX)?
Our calculated price target is the estimate of $1.07 (as of Nov 11, 2026). Cautious scenario $0.8000, optimistic scenario $1.34. It is an estimate from revenue and assets compared with similar companies, because none of our valuation models currently carries, not an analyst target.
What is the FST Corp. Ordinary Shares stock forecast for 2026?
Our estimate puts fair value at $1.07, about 25% lower versus a price of $1.42 (overvalued). Cautious scenario $0.8000, optimistic scenario $1.34. The calculation is refreshed regularly with new filings.
What is the revenue of FST Corp. (KBSX)?
FST Corp. reported trailing-twelve-month revenue of about $53.2M (latest available figure, as of Nov 11, 2026).
What is the intrinsic value of FST Corp. (KBSX)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For FST Corp. it is $1.07 per share (as of Nov 11, 2026), against a price of $1.42.
Is FST Corp. Ordinary Shares stock overvalued or undervalued in 2026?
As of Nov 11, 2026, KBSX trades above its calculated fair value: price $1.42, fair value $1.07, a gap of about −25% (overvalued). 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 KBSX?
No. The price is what the market pays today ($1.42); the fair value is what the company's own numbers justify ($1.07). For FST Corp. the two are $0.3501 per share apart. That gap is exactly why we show both numbers side by side.
How much is FST Corp. Ordinary Shares worth?
The market values FST Corp. at about $63.6M (market capitalisation, as of Nov 11, 2026). Per share that is $1.42; our models calculate a fair value of $1.07 per share.
What do the bullish and bearish scenarios say about KBSX?
Our models span a range for FST Corp.: cautious scenario $0.8000, base $1.07, optimistic $1.34 per share (as of Nov 11, 2026, price $1.42). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of KBSX?
FST Corp. trades at a price-to-earnings ratio of 10.1 (as of Nov 11, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $1.07 is built from several models across several years. Other multiples: P/B 6.8, P/S 1.2, EV/EBITDA 13.1.
How solid is the balance sheet of FST Corp. (KBSX)?
Balance-sheet figures for FST Corp. (as of Nov 11, 2026): return on equity 45.3%, debt of 1.01 per unit of equity. They feed the Quality Score of 44/100, which measures business quality independently of the share price.
How far is KBSX from its 52-week high?
FST Corp. trades at $1.42, about 17% below its 52-week high of $1.72 and 69% above the low of $0.8400 (as of Nov 10, 2026). Distance from the high says nothing about value: that is what the fair value of $1.07 is for.
Which stocks are comparable to FST Corp. Ordinary Shares?
From the same area (Consumer Cyclical) we also value Pop Mart International Group, Amer Sports, Inc, Hasbro, Inc, Life Time Group, 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 FST Corp. Ordinary Shares stock attractive at the current price?
The data as of Nov 11, 2026: price $1.42, calculated fair value $1.07 (−25%), Quality Score 44/100. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
Is it still worth investing in stocks now?
The global stock market currently sits 15.1% above its aggregate fair value. FST Corp. 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 FST Corp. (KBSX)?
The closing price on Nov 10, 2026 was $1.42. Our estimate is $1.07, about 25% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with FST Corp. Ordinary Shares right now?
The price sits above even our optimistic bull case ($1.34). The favourable scenario is already priced in. Weak quality (44/100) and above fair value at the same time, the margin of safety is missing on both counts. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.

Key figures of FST Corp.

How large is the market capitalisation of FST Corp. (KBSX)?
The market capitalisation of FST Corp. is $63.6M. 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 FST Corp. (KBSX)?
The price-to-sales ratio of FST Corp. is 1.19 (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 FST Corp. (KBSX)?
Earnings per share at FST Corp. are $0.1400 (price ÷ EPS = P/E 10.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of FST Corp. (KBSX)?
The net margin of FST Corp. is 11.5% (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 FST Corp. (KBSX)?
The return on equity (ROE) of FST Corp. is 45.3% (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 FST Corp. (KBSX)?
On an EBIT basis the return on assets of FST Corp. is 1.4% (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 FST Corp. (KBSX)?
The operating margin of FST Corp. is 0.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at FST Corp. (KBSX)?
Revenue at FST Corp. is growing +2.0% versus a year earlier (3y avg −1.2%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much free cash flow does FST Corp. (KBSX) generate?
The free cash flow of FST Corp. is −$1.6M (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 FST Corp. (KBSX) carry?
The net debt of FST Corp. is $28.3M (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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