Ve Wong Corporation (1203) Fair Value & Analysis
Consumer Defensive · TW · Market cap 11.0B TWD
Fair value as of: Jul 22, 2026
From 22 valuation models · updated 18 days ago
Share price +7.0% over the past month.
A solid business, but screening 30% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (40.42 TWD). The favourable scenario is already priced in.
- Solid but not exceptional quality (56/100) and above fair value, neither a clear bargain nor a standout compounder.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 22, 2026.
How to read this chart
60‑month range 29.37 TWD – 58.30 TWD · fair‑value band 24.25 TWD – 40.42 TWD · the 46.15 TWD price screens above the 32.33 TWD fair value. Dashed = 300-day average. As of Jul 22, 2026.
Analysis
Ve Wong Corporation (1203) currently trades at 46.15 TWD, while our model-based Fair Value estimate is 32.33 TWD, implying the stock looks roughly 29.9% overvalued today. The Quality Score stands at 56/100 (solid quality), in the Consumer Defensive sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: medium).
Over the trailing twelve months, Ve Wong Corporation generated revenue of 5.4B TWD at a net margin of 7.5%. Revenue declined 14.2% year over year. It earns a return on equity of 8.4%. The balance sheet holds a net cash position of 1.1B TWD. Fundamentals as of Jul 22, 2026
Our scenario range runs from 24.25 TWD (bear case) to 40.42 TWD (bull case); at 46.15 TWD, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades near its 52-week high and 24% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Defensive peers we cover trades at -3% fair-value upside, at -30%, 1203 screens richer than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 22 models by family
Widest divergence: DCF Models (55.80 TWD) versus Earnings-Based (15.05 TWD). Highest evidence: Growth DCF (80).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 22, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 58 · Market factors (momentum, volatility) 70
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
Ve Wong Corporation engages in the production and sale of monosodium glutamate, soy sauce, instant noodles, canned food, and beverages in Taiwan, Thailand, and Vietnam.
Full company description
Ve Wong Corporation engages in the production and sale of monosodium glutamate, soy sauce, instant noodles, canned food, and beverages in Taiwan, Thailand, and Vietnam. The company offers canned foods, including pickled cucumber, pickled lettuce, chili turnip strips, strip cucumber with perilla, ginger crisp, chili bamboo shoots, fermented tofu, and garlic chili sauce; canned beverages, such as asparagus drink, honey herbal jelly drink, mixed sweet porridge chinese style, lemon tea, peach drink, guava drink, paochong tea, and mixed fruit and vegetable juice; and soy sauce, thick soy sauce, and vegetarian oyster sauce shiitake flavor. It also provides seasoning products comprising spices powder mix, soup base seasoning bonito flavor, soup base seasoning shiitake flavor, soup base seasoning chicken flavor, ig-enriched monosodium glutamate, and sesame oil; instant noodles; and fast foods/instant soups, such as beef curry flavor, chicken curry flavor, pork curry flavor, beef stew flavor, mushroom pork flavor, vegetarian flavor, italian pasta sauce with beef and pork flavor, braised pork with tender bamboo shoot flavor, fried gluten, fried gluten with peanuts, instant laver soup, vegetarian instant laver soup, instant cup soup hot and sour flavor, instant cup soup corn flavor, and instant cup soup seaweed flavor. In addition, the company is involved in the residential, building, and industrial plant development and leasing; investment in public construction; and import and distribution of foreign tobacco, alcohol, and beverages. It sells its products under the Ve Wong, A-One, Vihuongto, Champion, Prince, Kung-Fu, Kim Ve Wong, Rarity, and Hot of Hots brand names. Ve Wong Corporation was incorporated in 1959 and is based in Taipei, Taiwan.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Ve Wong Corporation reported revenue of 5.7B TWD in FY2025 versus 5.8B TWD in FY2021, a compound −0.7%/yr. Reported net income was 431M TWD in FY2025, compounding −1.0%/yr from FY2021.
of which total revenue −0.5 pp · buybacks/dilution −2.0 pp
Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).
1203 screens 30% overvalued. Compare with Nestlé India Limited →
Peer Group
Packaged Foods · 649 stocks
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.
Valuation Multiples vs Packaged Foods median · lower = cheaper
Snowflake
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Packaged Foods stocks, each showing price versus our Fair Value estimate (as of Jul 22, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Nestlé India Limited NESTLEIND | ₹1,427 | ₹362.37 | -75% |
| Britannia Industries Limited BRITANNIA | ₹5,413 | ₹1,870 | -65% |
| Tata Consumer Products Limited TATACONSUM | ₹1,089 | ₹327.27 | -70% |
| PT Indofood CBP Sukses Makmur Tbk ICBP | 6,650 IDR | 15,757 IDR | +137% |
| Samyang Foods Co 003230 | 1,139,000 KRW | 1,010,543 KRW | -11% |
| Patanjali Foods Limited PATANJALI | ₹413.80 | ₹157.04 | -62% |
| Vietnam Dairy Products Joint Stock Company VNM | 58,500 VND | 68,259 VND | +17% |
| PT Mayora Indah Tbk, MYOR | 1,750 IDR | 2,699 IDR | +54% |
| PT Cisarua Mountain Dairy Tbk CMRY | 4,490 IDR | 4,355 IDR | -3% |
| Nongshim Co 004370 | 348,500 KRW | 530,619 KRW | +52% |
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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