Formosa Chemicals & Fibre Corp (1326) fair value: what the stock is really worth
As of Nov 5, 2026: fair value (intrinsic value) of Formosa Chemicals & Fibre Corp stock TWD 35.32, price TWD 65.00, that is 45.7% below the price, quality 40 out of 100. Rating: strongly overvalued. Calculated from audited financials with 10 of our 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 3, 2026.
How to read this chart
60‑month range 22.15 TWD – 85.50 TWD · fair‑value band 21.16 TWD – 51.38 TWD · the 65.00 TWD price screens above the 35.32 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 3, 2026.
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Formosa Chemicals & Fibre Corporation produces and sells petrochemical products, nylon, and rayon fibers in Taiwan and internationally.
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The company offers plastic products, including PS resin, ABS resin, PP resin, PC resin, homopolymer PP, polycarbonate, PC/ABS alloy, PP composite materials, SAN andASA resin, and nylon resin; petrochemical, such as benzene, para-xylene, ortho-xylene, meta-xylene, styrene monomer, phenol, acetone, PTA, and PIA; fibers, includes nylon 6 chip, full drawn yarn, partially oriented yarn, highly oriented yarn, draw textured yarn, industrial yarn, n6 tire cord yarn, and n66 tire cord yarn; and textile, such as flame retardant yarn, mosaic yarn, compact yarn, slub yarn, recycle yarn, modal yarn, siro yarn, multi-blended, ring spun yarn, and fireproof cloth.
Its products have applications in petrochemicals, household items, clothing accessories, agricultural and fishing equipment, building applications, 3C, and other applications. The company was founded in 1965 and is based in Taipei, Taiwan.
Stock analysis
Formosa Chemicals & Fibre Corp (1326) currently trades at 65.00 TWD, while our model-based Fair Value estimate is 35.32 TWD, 46% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Asset-Based group reads highest at a median of 39.57 TWD per share, and 0 of the 9 models we run sit above the 65.00 TWD price.
Bear case: the Multiples group reads lowest at 4.93 TWD, and 9 of the 9 models stay below the price. Data coverage for this calculation is medium.
Scenario range: 21.16 TWD (bear) to 51.38 TWD (bull), the price of 65.00 TWD 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 40/100 (below-average quality), in the Basic Materials sector.
Mixed Growth: Spin-off in 2013: revenue and profit before it include the divested business. Growth is measured afresh from 2013.
Formosa Chemicals & Fibre Corp reported revenue of 287B TWD in FY2025 versus 366B TWD in FY2021, a compound −5.9%/yr. Reported net income was −5.8B TWD in FY2025.
Key figures
Market cap 397B TWD (≈ $12.0B) Large · P/E ratio 27.5 · P/S ratio 1.31 · EPS (TTM) 2.36 TWD · Dividend yield 0.9% · Net margin 4.6% · Return on equity 3.5% · Return on assets (EBIT) 1.8%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 23 out of 100 (low confidence).
What moves the price
The share trades about 24% below its 52-week high and 134% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at −17% fair-value upside, at −46%, 1326 screens richer than that median.
Fair Value models
Bear21.16 TWDFair Value 35.32 TWDBull51.38 TWD
Price 65.00 TWD · Downside -45.7%
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 (1.49 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.
Best data coverage
FCF DCF14.90 TWD23.11 TWD38.75 TWD78
Growth DCF15.80 TWD23.81 TWD37.87 TWD77
5Y EBITDA Exit8.20 TWD14.08 TWD21.87 TWD74
All 10 models by family
DCF Models
FCF DCF14.90 TWD23.11 TWD38.75 TWD78
5Y Revenue Exit10.31 TWD17.66 TWD28.35 TWD71
5Y EBITDA Exit8.20 TWD14.08 TWD21.87 TWD74
10Y Revenue Exit11.42 TWD18.12 TWD25.69 TWD66
10Y EBITDA Exit10.58 TWD15.75 TWD21.42 TWD69
Multiples
EV/EBITDAn/an/a4.43 TWD62
EV/Revenuen/a4.93 TWD12.12 TWD50
Asset-Based
NCAV (Graham)29.53 TWD39.57 TWD59.07 TWD54
Growth DCF
Growth DCF15.80 TWD23.81 TWD37.87 TWD77
Rev-Margin DCF10.31 TWD18.09 TWD27.88 TWD71
The fair value above starts from this blend and is adjusted for a cyclical trough year.
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.55/100
Spin-off in 2013: revenue and profit before it include the divested business. Growth is measured afresh from 2013.
Revenue growth 1 year
−17.7%
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.
−8.9%
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.
+2.5%
Start year 2020 (pandemic). Over 10 years: −1.4% a year
Revenue growth 12 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.
−3.3%
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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.
10.3% (2020) → −1.4% (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
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+19.5%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+2.4%
Yearly sales growth analysts expect, extended to five years.
After inflation (Taiwan: IMF forecast 1.6% a year to 2030, 1.5% from 2016 to 2025) that is about +17.7% a year for the price and +0.8% for the forecasts.
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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.Chemicals · 341 stocks
Beats the industry median on 3/15 measures
Overall it trails its industry peers.
Valuation
Quality Score40 · Bottom 25%
Fair Value upside−45.7% · Below median
Profitability
Return on equity (12 months)3.5% · Below median
Return on assets−1.1% · Bottom 25%
Net margin (12 months)4.6% · Below median
Operating margin (12 months)2.2% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY)18.5% · Above median
Dividend yield (12 months)0.9% · Below median
Balance sheet
Debt / equity0.19× · Above median
Valuation Multiplesvs Chemicals median · lower = cheaper
P/E (12 months)27.5× · Pricier than median
P/B1.15× · Cheaper than median
P/S (12 months)1.31× · Pricier than median
Price / free cash flow36.8× · Pricier than median
EV/EBITDA23.8× · Priciest 25%
PEG0.24× · Cheapest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 6
FUTURE (revenue growth)93· sector 67
PAST (return on equity)14· sector 24
HEALTH (low debt)91· sector 94
DIVIDEND (yield)18· sector 32
VALUE 0: the price sits above our fair-value range.
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.
Is Formosa Chemicals & Fibre Corp (1326) overvalued or undervalued?
As of Nov 3, 2026, our model estimates a fair value of 35.32 TWD versus a price of 65.00 TWD, about 46% lower (overvalued).
What is the fair value of 1326?
Our model-based fair value for Formosa Chemicals & Fibre Corp is 35.32 TWD (as of Nov 3, 2026), built from audited fundamentals. The current price: 65.00 TWD.
What is the quality score of 1326?
Formosa Chemicals & Fibre Corp has a Quality Score of 40/100. 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 Formosa Chemicals & Fibre Corp (1326)?
Our model-based price target is the fair value of 35.32 TWD (as of Nov 3, 2026) from 10 valuation models. Cautious scenario 21.16 TWD, optimistic scenario 51.38 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Formosa Chemicals & Fibre Corp stock forecast for 2026?
Our models put fair value at 35.32 TWD, about 46% lower versus a price of 65.00 TWD (overvalued). Cautious scenario 21.16 TWD, optimistic scenario 51.38 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Formosa Chemicals & Fibre Corp (1326)?
Formosa Chemicals & Fibre Corp reported trailing-twelve-month revenue of about 303B TWD (latest available figure, as of Nov 3, 2026).
Does Formosa Chemicals & Fibre Corp pay a dividend?
Formosa Chemicals & Fibre Corp currently shows a dividend yield of 0.92% relative to its recent price (as of Nov 3, 2026).
What growth is priced into Formosa Chemicals & Fibre Corp (1326)?
For today's price to be fair in a discounted-cash-flow model, Formosa Chemicals & Fibre Corp would have to grow free cash flow by +19.5 % per year for five years (discount rate 9.0 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +2.5 % per year. As of Nov 3, 2026.
What discount rate (WACC) does the fair value of 1326 use?
Our models discount Formosa Chemicals & Fibre Corp at 9.0 %: a base by market capitalisation (large), damped by beta 0.67, country premium for Taiwan. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Formosa Chemicals & Fibre Corp that is +19.5 % per year a year over ten years, using the same discount rate (9.0 %) and the same formula as our fair value.
How much growth has Formosa Chemicals & Fibre Corp (1326) delivered so far?
Over the past 5 years revenue at Formosa Chemicals & Fibre Corp grew +2.5 % a year. The price currently implies +19.5 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Formosa Chemicals & Fibre Corp (1326) growing?
The median revenue growth in the sector is +9.8 % a year. That is the yardstick for the growth priced into Formosa Chemicals & Fibre Corp (+19.5 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Formosa Chemicals & Fibre Corp (1326)?
The free-cash-flow yield on the price is 2.65 %: that much free cash flow Formosa Chemicals & Fibre Corp produces per unit of market value. When it exceeds the discount rate of our models (9.0 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Formosa Chemicals & Fibre Corp (1326)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Formosa Chemicals & Fibre Corp it is 35.32 TWD per share (as of Nov 3, 2026), against a price of 65.00 TWD. It is the blended result of 10 valuation models (cash flow, earnings, asset, dividend).
Is Formosa Chemicals & Fibre Corp stock overvalued or undervalued in 2026?
As of Nov 3, 2026, 1326 trades above its calculated fair value: price 65.00 TWD, fair value 35.32 TWD, a gap of about −46% (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 1326?
No. The price is what the market pays today (65.00 TWD); the fair value is what the company's own numbers justify (35.32 TWD). For Formosa Chemicals & Fibre Corp the two are 29.68 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Formosa Chemicals & Fibre Corp worth?
The market values Formosa Chemicals & Fibre Corp at about 397B TWD (market capitalisation, as of Nov 3, 2026). Per share that is 65.00 TWD; our models calculate a fair value of 35.32 TWD per share.
What do the bullish and bearish scenarios say about 1326?
Our models span a range for Formosa Chemicals & Fibre Corp: cautious scenario 21.16 TWD, base 35.32 TWD, optimistic 51.38 TWD per share (as of Nov 3, 2026, price 65.00 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 1326?
Formosa Chemicals & Fibre Corp trades at a price-to-earnings ratio of 27.5 (as of Nov 3, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 35.32 TWD is built from several models across several years. Median P/E at fiscal year-end, 9 fiscal years (2016 to 2024), reported earnings: 17.2. Other multiples: PEG 0.2, P/B 1.2, P/S 1.3, EV/EBITDA 23.8.
What is the PEG ratio of 1326?
The PEG ratio of Formosa Chemicals & Fibre Corp is 0.24 (P/E divided by earnings growth, as of Nov 3, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Formosa Chemicals & Fibre Corp (1326)?
Balance-sheet figures for Formosa Chemicals & Fibre Corp (as of Nov 3, 2026): return on equity 3.5%, debt of 0.19 per unit of equity. They feed the Quality Score of 40/100, which measures business quality independently of the share price.
How far is 1326 from its 52-week high?
Formosa Chemicals & Fibre Corp trades at 65.00 TWD, about 24% below its 52-week high of 85.50 TWD and 134% above the low of 27.80 TWD (as of Nov 5, 2026). Distance from the high says nothing about value: that is what the fair value of 35.32 TWD is for.
Which stocks are comparable to Formosa Chemicals & Fibre Corp?
From the same area (Basic Materials) we also value BASF SE, Dow Inc, Ningxia Baofeng Energy Group, Zangge Mining 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 Formosa Chemicals & Fibre Corp stock attractive at the current price?
The data as of Nov 3, 2026: price 65.00 TWD, calculated fair value 35.32 TWD (−46%), Quality Score 40/100, from 10 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 1326 calculated?
We run Formosa Chemicals & Fibre Corp through 10 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of 35.32 TWD, 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 15.5% above its aggregate fair value. Formosa Chemicals & Fibre 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 Formosa Chemicals & Fibre Corp (1326)?
The closing price on Nov 5, 2026 was 65.00 TWD. Our model-based fair value is 35.32 TWD, about 46% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Formosa Chemicals & Fibre Corp right now?
The price sits above even our optimistic bull case (51.38 TWD). The favourable scenario is already priced in. Weak quality (40/100) and above fair value at the same time, the margin of safety is missing on both counts. A fairly wide model range (21.16 TWD to 51.38 TWD) leaves room in how you read the outcome.
Key figures of Formosa Chemicals & Fibre Corp
How large is the market capitalisation of Formosa Chemicals & Fibre Corp (1326)?
The market capitalisation of Formosa Chemicals & Fibre Corp is 397B TWD (≈ $12.0B). 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 Formosa Chemicals & Fibre Corp (1326)?
The price-to-sales ratio of Formosa Chemicals & Fibre Corp is 1.31 (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 Formosa Chemicals & Fibre Corp (1326)?
Earnings per share at Formosa Chemicals & Fibre Corp are 2.36 TWD (price ÷ EPS = P/E 27.5). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Formosa Chemicals & Fibre Corp (1326)?
The dividend yield of Formosa Chemicals & Fibre Corp is 0.9% (payout 25.4%). 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 Formosa Chemicals & Fibre Corp (1326)?
The net margin of Formosa Chemicals & Fibre Corp is 4.6% (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 Formosa Chemicals & Fibre Corp (1326)?
The return on equity (ROE) of Formosa Chemicals & Fibre Corp is 3.5% (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 Formosa Chemicals & Fibre Corp (1326)?
On an EBIT basis the return on assets of Formosa Chemicals & Fibre Corp is 1.8% (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 Formosa Chemicals & Fibre Corp (1326)?
The operating margin of Formosa Chemicals & Fibre Corp is 2.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Formosa Chemicals & Fibre Corp (1326)?
Revenue at Formosa Chemicals & Fibre Corp is growing +18.5% versus a year earlier (3y avg −8.9%). 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 Formosa Chemicals & Fibre Corp (1326)?
Earnings per share at Formosa Chemicals & Fibre Corp are growing +8.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Formosa Chemicals & Fibre Corp (1326) carry?
The net debt of Formosa Chemicals & Fibre Corp is 111B TWD (fiscal year 2025, ≈ 10.3 yrs of FCF). 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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Nov 3, 2026