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STOCK COMPARISON

Taiwan Hon Chuan Enterprise Co vs Stora Enso Oyj ser. R: Fair Value & Quality

Both stocks run through our valuation models. Here is how Taiwan Hon Chuan Enterprise Co (9939) and Stora Enso Oyj ser. R (STE-R) compare, as of Aug 10, 2026.

As of Aug 10, 2026, Fair Value Calculator sees Stora Enso Oyj ser. R as the more attractively valued of the two: Taiwan Hon Chuan Enterprise Co trades at TWD 145 versus a fair value of TWD 127 (-12%), while Stora Enso Oyj ser. R trades at SEK 107 versus SEK 126 (+18%).
Taiwan Hon Chuan Enterprise Co
9939.TW · TWD · Materials
-12%
upside to fair value
overvalued
PriceTWD 145
Fair ValueTWD 127
Quality40/100
Stora Enso Oyj ser. R
STE-R.ST · SEK · Materials
+18%
upside to fair value
undervalued
PriceSEK 107
Fair ValueSEK 126
Quality55/100

Head-to-head numbers

Green value = the better side for that row (for valuation multiples: lower = cheaper).

Taiwan Hon Chuan Enterprise CoStora Enso Oyj ser. R
Valuation
14.4×P/E (TTM)11.7×
1.36×P/S (TTM)0.94×
1.93×P/B0.81×
7.5×EV/EBITDA17.1×
0.64×PEG40.97×
4.8%Dividend yield—
TWD 6.20Dividend per share—
Profitability
9%Net margin7%
13%Operating margin5%
14%Return on equity6%
5%Return on assets1%
Growth
-6%Revenue growth (YoY)-0%
5.4%Avg. growth/yr (3Y)-7.2%
8.3%Avg. growth/yr (5Y)1.7%
Balance & size
0.58×Debt / equity0.29×
$1BMarket cap$9B
expensiveGrowth qualityweak

Taiwan Hon Chuan Enterprise Co leads: 8 to 5 metric wins.

Dash = not meaningfully computable, for example with negative equity.

Quality in detail

The quality score, broken down into the same factor families as on the stock page, 0 to 100 per family.

Taiwan Hon Chuan Enterprise Coof which business quality 42 · market factors 65 Stora Enso Oyj ser. Rof which business quality 52 · market factors 49
ProfitabilityMargins and returns on capital today
42
33
Quality GrowthAre margins and returns improving?
35
57
CashflowEarnings quality: real cash, not paper profit
43
19
Fin. StrengthBalance sheet, leverage, solvency risk
52
63
InvestmentDisciplined investing over empire-building
35
88
Low VolatilityCalm price path (market factor)
89
80
MomentumPrice trend over the last 3–12 months (market factor)
54
38
52W MomentumDistance to the 52-week high (market factor)
55
34
Net IssuanceBuybacks instead of dilution
35
82

What the models say

The median fair value (base case) per model family, each in the currency of its trading venue. Green = above the current price, red = below.

Taiwan Hon Chuan Enterprise Co

Earnings-BasedTWD 82.74
Dividend DiscountTWD 109
MultiplesTWD 154
Asset-BasedTWD 45.46
Economic ProfitTWD 91.90
Growth EarningsTWD 127

10 of 16 models see the stock below the current price.

Stora Enso Oyj ser. R

DCF ModelsSEK 4.59
Earnings-BasedSEK 8.58
Dividend DiscountSEK 2.91
MultiplesSEK 15.25
Asset-BasedSEK 9.34
Economic ProfitSEK 10.63
Growth EarningsSEK 11.64

15 of 15 models see the stock below the current price.

Scenario ranges

From our cautious bear case to the optimistic bull case. The white tick is the current price: left of fair value means room to run.

Taiwan Hon Chuan Enterprise Co
Bear TWD 88.94Fair Value TWD 127Bull TWD 182
TWD 145 = current price (white tick)
Stora Enso Oyj ser. R
Bear SEK 97.15Fair Value SEK 126Bull SEK 141
SEK 107 = current price (white tick)

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Ranked within their sector

Where each stock sits within its sector peer group. Band = middle 50% of peers, tick = median, dot = this stock.

Taiwan Hon Chuan Enterprise Co · Materials

Quality score40 · below median
Fair value upside-12% · above median

Stora Enso Oyj ser. R · Materials

Quality score55 · above median
Fair value upside+18% · above median

Bottom line

As of Aug 10, 2026, Fair Value Calculator sees Stora Enso Oyj ser. R as the more attractively valued of the two: Taiwan Hon Chuan Enterprise Co trades at TWD 145 versus a fair value of TWD 127 (-12%), while Stora Enso Oyj ser. R trades at SEK 107 versus SEK 126 (+18%).

Stora Enso Oyj ser. R has the higher quality score (55/100).

See the full analysis →
Taiwan Hon Chuan Enterprise Co · Stora Enso Oyj ser. R

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A model-based valuation snapshot from 21 models. Values change with price and fundamentals; the date shown above applies.