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Lian Hwa Foods Corporation (1231) Fair Value & Analysis

Consumer Defensive · TW · Market cap 27.0B TWD

LH Lian Hwa Foods Corporation 1231 · TW
Price80.60 TWD
Fair Value29.44 TWD
Upside-63.5%
Quality43/100
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Expensive Growth
Solidly profitable · 10.0% net margin
Low debt · generates free cash flow
1.72% dividend yield
Mixed vs. peers (6/15)
Moderate moat 52/100
Evidence: High Range 21.45 TWD – 68.91 TWD Share as image

Fair value as of: Jul 21, 2026

From 26 valuation models · updated 20 days ago

Share price −7.0% over the past month.

Below-average quality, and screening another 63% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (68.91 TWD). The favourable scenario is already priced in.
  • Weak quality (43/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • The model range is unusually wide (21.45 TWD to 68.91 TWD). The outcome hinges heavily on assumptions, so read the point estimate with caution.
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Price vs Fair Value (5 years)

178.00 TWD 29.25 TWD Fair Value 29.44 TWD Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 21, 2026.

How to read this chart

60‑month range 29.25 TWD – 178.00 TWD · fair‑value band 21.45 TWD – 68.91 TWD · the 80.60 TWD price screens above the 29.44 TWD fair value. Dashed = 300-day average. As of Jul 21, 2026.

Full chart & analysis →

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Analysis

Lian Hwa Foods Corporation (1231) currently trades at 80.60 TWD, while our model-based Fair Value estimate is 29.44 TWD, implying the stock looks roughly 63.5% overvalued today. The Quality Score stands at 43/100 (below-average 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: high).

Over the trailing twelve months, Lian Hwa Foods Corporation generated revenue of 13.1B TWD at a net margin of 10.0%. Revenue grew 7.1% year over year. It earns a return on equity of 18.4%. Net debt stands at 4.9B TWD. Fundamentals as of Jul 21, 2026

Our scenario range runs from 21.45 TWD (bear case) to 68.91 TWD (bull case); at 80.60 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 about 48% below its 52-week high, currently below its 200-day average. For context, the median of 10 Consumer Defensive peers we cover trades at -3% fair-value upside, at -63%, 1231 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.

Model BearBaseBull Evidence
Highest evidence
Growth DCF 4.66 TWD 11.36 TWD 80
Residual Income 25.24 TWD 32.66 TWD 86.38 TWD 76
Rev-Margin DCF 15.31 TWD 34.13 TWD 55.59 TWD 74
All 26 models by family
DCF Models
FCF DCF 5.11 TWD 13.18 TWD 38
Owner Earnings 24.17 TWD 43.08 TWD 72.00 TWD 31
5Y Revenue Exit 15.31 TWD 34.59 TWD 59.66 TWD 39
5Y EBITDA Exit 22.83 TWD 48.67 TWD 79.20 TWD 41
5Y P/E Exit 28.57 TWD 59.42 TWD 92.15 TWD 38
10Y Revenue Exit 8.55 TWD 24.86 TWD 47.48 TWD 36
10Y EBITDA Exit 14.41 TWD 34.64 TWD 62.41 TWD 37
10Y P/E Exit 18.07 TWD 42.11 TWD 72.31 TWD 35
Earnings-Based
Graham-Dodd 25.94 TWD 81.24 TWD 108.12 TWD 54
Lynch FV 17.73 TWD 25.33 TWD 32.93 TWD 50
PEG = 1.0 17.73 TWD 25.33 TWD 32.93 TWD 46
EPV 19.52 TWD 24.38 TWD 28.62 TWD 59
Dividend Discount
Gordon GGM 13.36 TWD 27.77 TWD 44.05 TWD 70
DDM Multi-Stage 13.36 TWD 22.15 TWD 29.14 TWD 61
Multiples
P/E Multiple 60.09 TWD 80.11 TWD 100.14 TWD 63
P/S Multiple 48.64 TWD 64.85 TWD 81.07 TWD 58
P/B Multiple 48.64 TWD 64.85 TWD 81.07 TWD 55
EV/EBIT 39.12 TWD 55.36 TWD 71.60 TWD 53
EV/EBITDA 40.60 TWD 57.33 TWD 74.07 TWD 54
EV/Revenue 25.17 TWD 40.07 TWD 54.97 TWD 43
Asset-Based
NCAV (Graham) 12.15 TWD 16.28 TWD 24.29 TWD 50
Growth DCF
Growth DCF 4.66 TWD 11.36 TWD 80
Rev-Margin DCF 15.31 TWD 34.13 TWD 55.59 TWD 74
Economic Profit
Residual Income 25.24 TWD 32.66 TWD 86.38 TWD 76
ROIC Compounder 19.52 TWD 24.43 TWD 33.26 TWD 72
Growth Earnings
Growth-Adj P/E 49.79 TWD 71.13 TWD 92.46 TWD 68

Widest divergence: Growth Earnings (71.13 TWD) versus Growth DCF (4.66 TWD). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 13.1B TWD
Revenue growth (YoY) +7.1%
Net margin 10.0%
Return on equity 18.4%
Free cash flow 247M TWD FY2025
P/E ratio 23.4
More key figures
Operating margin 9.5%
EPS (TTM) 3.81 TWD
Dividend yield 1.7%
EPS growth (YoY) +140%
Net debt 4.9B TWD FY2025

Figures from reported company fundamentals · as of Jul 21, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 43/100

Of which business quality 43 · Market factors (momentum, volatility) 35

Profitability 50
Margins and returns on capital today
Quality Growth 39
Are margins and returns improving?
Cashflow 19
Earnings quality: real cash, not paper profit
Fin. Strength 69
Balance sheet, leverage, solvency risk
Investment 53
Disciplined investing over empire-building
Low Volatility 87
Calm price path (market factor)
Momentum 20
Price trend over the last 3–12 months (market factor)
52W Momentum 0
Distance to the 52-week high (market factor)
Net Issuance 25
Buybacks instead of dilution

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

Lian Hwa Foods Corporation engages in the manufacture, processing, trade, wholesale, and retail of food products in Taiwan and internationally. It operates through Snack Food and RTE (Ready-to-Eat) Foods segments.

Full company description

Lian Hwa Foods Corporation engages in the manufacture, processing, trade, wholesale, and retail of food products in Taiwan and internationally. It operates through Snack Food and RTE (Ready-to-Eat) Foods segments. The company's products portfolio include seaweed, squid, noodles, pasta, rice bran, beans, nuts, melon seeds, jams, beverages, sugar, candy, biscuits, peanut butter, and other products. It also provides processed products, frozen processed food, canned food, and the wholesale and retail of tobacco and alcohol, as well as various marine and land food. In addition, the company engages in the manufacturing and selling of munchies, and investment activities, as well as planting and manufacturing agricultural products and by-products. It offers its products under the KOLOKO, VIVA, CADINA, Moto-Moto-Yama, Chef Hoka, and Lucky Star brand names. Lian Hwa Foods Corporation was founded in 1951 and is headquartered in Taipei, Taiwan.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Lian Hwa Foods Corporation reported revenue of 12.9B TWD in FY2025 versus 9.5B TWD in FY2021, a compound +7.8%/yr. Reported net income was 1.1B TWD in FY2025, compounding +8.8%/yr from FY2021.

Growth Quality 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
12.9B TWD
Latest YoY
+5.5%
Avg. growth/yr (3Y)
+6.1%
Avg. growth/yr (5Y)
+7.9%
Avg. growth/yr (23Y)
+5.3%
Revenue +7.8%/yr
FY21 9.5B TWD
FY22 10.8B TWD
FY23 10.9B TWD
FY24 12.2B TWD
FY25 12.9B TWD
Net income +8.8%/yr
FY21 814M TWD
FY22 872M TWD
FY23 970M TWD
FY24 1.1B TWD
FY25 1.1B TWD

1231 screens 63% overvalued. Compare with Nestlé India Limited →

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Cite: Fair Value Calculator (2026). "Lian Hwa Foods Corporation Fair Value". https://www.fairvalue-calculator.com/stock/1231

Peer Group

Packaged Foods · 653 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.

Quality Score 43 · Bottom 25%
Fair Value upside −64% · Bottom 25%
Return on equity (TTM) 18% · Top 25%
Return on assets 5% · Above median
Net margin (TTM) 10% · Top 25%
Operating margin (TTM) 10% · Above median
Revenue growth 7% · Above median
Dividend yield (TTM) 1.7% · Below median
Debt / equity 0.46× · Higher than 75% of peers

Valuation Multiples vs Packaged Foods median · lower = cheaper

P/E (TTM) 23.8× · Pricier than median
P/B 3.73× · Pricier than 75% of peers
P/S (TTM) 2.07× · Pricier than 75% of peers
P/FCF 3.4× · Pricier than median
EV/EBITDA 19.5× · Pricier than 75% of peers
PEG 0.57× · Cheaper than 75% of peers

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 · sector 29
FUTURE 36 · sector 19
PAST 74 · sector 27
HEALTH 77 · sector 96
DIVIDEND 34 · sector 47

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.

None of the checked exposures detected

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 21, 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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Frequently asked questions

Is Lian Hwa Foods Corporation (1231) overvalued or undervalued?
As of Jul 21, 2026, our model estimates a fair value of 29.44 TWD versus a price of 80.60 TWD, about −63% (overvalued).
What is the fair value of 1231?
Our model-based fair value for Lian Hwa Foods Corporation is 29.44 TWD (as of Jul 21, 2026), built from audited fundamentals. The current price is 80.60 TWD.
What is the quality score of 1231?
Lian Hwa Foods Corporation 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 revenue of Lian Hwa Foods Corporation (1231)?
Lian Hwa Foods Corporation reported trailing-twelve-month revenue of about 13.1B TWD (latest available figure, as of Jul 21, 2026).
What is the net profit margin of 1231?
The net profit margin of Lian Hwa Foods Corporation is about 10.0%, meaning it keeps roughly 10.0% of revenue as net income. Based on the latest reported figures.
Does Lian Hwa Foods Corporation pay a dividend?
Lian Hwa Foods Corporation currently shows a dividend yield of about 1.72% relative to its recent price (as of Jul 21, 2026).

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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