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Ascent Development Co (1439) Fair Value & Analysis

Real Estate · TW · Market cap 2.4B TWD

AD Ascent Development Co 1439 · TW
Price29.25 TWD
Fair Value31.11 TWD
Upside+6.4%
Quality54/100
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Healthy Growth
Highly profitable · 37.6% net margin
Low debt · generates free cash flow
1.99% dividend yield
Mixed vs. peers (7/14)
Moderate moat 51/100
Evidence: Medium Range 25.50 TWD – 78.91 TWD Share as image

Fair value as of: Jul 21, 2026

From 26 valuation models · updated 20 days ago

Share price +24.5% over the past month.

A solid business, currently priced close to our fair value.

What matters now

  • The model range is unusually wide (25.50 TWD to 78.91 TWD). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
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Price vs Fair Value (5 years)

34.70 TWD 17.78 TWD Fair Value 31.11 TWD Feb 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 17.78 TWD – 34.70 TWD · fair‑value band 25.50 TWD – 78.91 TWD · the 29.25 TWD price screens below the 31.11 TWD fair value. Dashed = 300-day average. As of Jul 21, 2026.

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Analysis

Ascent Development Co (1439) currently trades at 29.25 TWD, while our model-based Fair Value estimate is 31.11 TWD, implying the stock looks roughly 6.4% fairly valued today. The Quality Score stands at 54/100 (solid quality), in the Real Estate sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: medium), always confirm before acting.

Over the trailing twelve months, Ascent Development Co generated revenue of 753M TWD at a net margin of 37.6%. Revenue declined 44.3% year over year. It earns a return on equity of 10.0%. Net debt stands at 993M TWD. Fundamentals as of Jul 21, 2026

Our scenario range runs from 25.50 TWD (bear case) to 78.91 TWD (bull case); at 29.25 TWD, the current price sits within 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 9% below its 52-week high and 21% above its 52-week low, currently above its 200-day average. For context, the median of 10 Real Estate peers we cover trades at 32% fair-value upside, at 6%, 1439 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 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. Evidence
Highest evidence
Growth DCF 65.88 TWD 114.64 TWD 210.07 TWD 80
Residual Income 28.87 TWD 33.38 TWD 68.87 TWD 76
Rev-Margin DCF 29.00 TWD 43.53 TWD 67.80 TWD 74
All 26 models by family
DCF Models
FCF DCF 69.84 TWD 104.97 TWD 214.48 TWD 38
Owner Earnings 63.81 TWD 135.64 TWD 280.89 TWD 31
5Y Revenue Exit 29.00 TWD 38.53 TWD 57.29 TWD 39
5Y EBITDA Exit 33.72 TWD 48.22 TWD 75.75 TWD 41
5Y P/E Exit 67.74 TWD 142.29 TWD 242.53 TWD 38
10Y Revenue Exit 41.04 TWD 63.91 TWD 74.78 TWD 36
10Y EBITDA Exit 44.70 TWD 73.60 TWD 120.88 TWD 37
10Y P/E Exit 68.79 TWD 143.32 TWD 272.40 TWD 35
Earnings-Based
Graham-Dodd 25.21 TWD 175.78 TWD 246.68 TWD 54
Lynch FV 62.27 TWD 88.96 TWD 115.65 TWD 50
PEG = 1.0 62.27 TWD 88.96 TWD 115.65 TWD 46
EPV 15.59 TWD 17.30 TWD 18.77 TWD 59
Dividend Discount
Gordon GGM 2.63 TWD 5.25 TWD 7.95 TWD 70
DDM Multi-Stage 2.63 TWD 4.54 TWD 5.54 TWD 61
Multiples
P/E Multiple 61.16 TWD 81.55 TWD 101.93 TWD 63
P/S Multiple 7.95 TWD 10.61 TWD 13.26 TWD 58
P/B Multiple 47.26 TWD 63.01 TWD 78.77 TWD 55
EV/EBIT 22.63 TWD 28.59 TWD 34.55 TWD 53
EV/EBITDA 19.20 TWD 24.01 TWD 28.83 TWD 54
EV/Revenue 12.18 TWD 15.36 TWD 18.54 TWD 43
Asset-Based
NCAV (Graham) 16.08 TWD 21.55 TWD 32.16 TWD 50
Growth DCF
Growth DCF 65.88 TWD 114.64 TWD 210.07 TWD 80
Rev-Margin DCF 29.00 TWD 43.53 TWD 67.80 TWD 74
Economic Profit
Residual Income 28.87 TWD 33.38 TWD 68.87 TWD 76
ROIC Compounder 15.59 TWD 17.30 TWD 18.77 TWD 72
Growth Earnings
Growth-Adj P/E 82.37 TWD 117.67 TWD 152.96 TWD 68

Widest divergence: Growth Earnings (117.67 TWD) versus Dividend Discount (4.54 TWD). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 753M TWD
Revenue growth (YoY) -44.3%
Net margin 37.6%
Return on equity 10.0%
Free cash flow 376M TWD FY2025
P/E ratio 8.0
More key figures
Operating margin 6.5%
EPS (TTM) 3.21 TWD
Dividend yield 2.0%
EPS growth (YoY) -19.1%
Net debt 993M TWD FY2025

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

Quality Score breakdown

Overall quality 54/100

Of which business quality 56 · Market factors (momentum, volatility) 55

Profitability 40
Margins and returns on capital today
Quality Growth 56
Are margins and returns improving?
Cashflow 85
Earnings quality: real cash, not paper profit
Fin. Strength 62
Balance sheet, leverage, solvency risk
Investment 73
Disciplined investing over empire-building
Low Volatility 89
Calm price path (market factor)
Momentum 36
Price trend over the last 3–12 months (market factor)
52W Momentum 50
Distance to the 52-week high (market factor)
Net Issuance 16
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

Ascent Development Co., Ltd. sells wool tops, carbonized wool, scoured wool, shrink-resistant wool tops products in Taiwan. It also develops, leases, and sells real estate properties. Ascent Development Co., Ltd. was formerly known as Chuwa Wool Industry Co., (Taiwan) Ltd. and changed its name to Ascent Development Co., Ltd. in August 2022.

Full company description

Ascent Development Co., Ltd. sells wool tops, carbonized wool, scoured wool, shrink-resistant wool tops products in Taiwan. It also develops, leases, and sells real estate properties. Ascent Development Co., Ltd. was formerly known as Chuwa Wool Industry Co., (Taiwan) Ltd. and changed its name to Ascent Development Co., Ltd. in August 2022. The company was founded in 1953 and is based in Taipei, Taiwan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Ascent Development Co reported revenue of 813M TWD in FY2025 versus 78.8M TWD in FY2021, a compound +79.2%/yr. Reported net income was 341M TWD in FY2025, compounding +27.7%/yr from FY2021.

Growth Quality 95/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
813M TWD
Latest YoY
+728.6%
Avg. growth/yr (3Y) ⓘ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.
+12.6%
Avg. growth/yr (5Y) ⓘ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.
+48.4%
Avg. growth/yr (23Y) ⓘ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.
−2.1%
Revenue +79.2%/yr
FY21 78.8M TWD
FY22 570M TWD
FY23 199M TWD
FY24 98.1M TWD
FY25 813M TWD
Net income +27.7%/yr
FY21 128M TWD
FY22 144M TWD
FY23 184M TWD
FY24 161M TWD
FY25 341M TWD

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Ascent Development Co · Fair Value
31.11 TWD +6%Fair Value
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Cite: Fair Value Calculator (2026). "Ascent Development Co Fair Value". https://www.fairvalue-calculator.com/stock/1439

Peer Group

Real Estate - Development · 588 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 55 · Above median
Fair Value upside +6% · Below median
Return on equity (TTM) 10% · Top 25%
Return on assets 1% · Below median
Net margin (TTM) 38% · Top 25%
Operating margin (TTM) 6% · Below median
Revenue growth -44% · Bottom 25%
Dividend yield (TTM) 2.0% · Above median
Debt / equity 0.12× · Lower than median

Valuation Multiples vs Real Estate - Development median · lower = cheaper

P/E (TTM) 8.0× · Cheaper than median
P/B 0.79× · Pricier than median
P/S (TTM) 3.12× · Pricier than 75% of peers
P/FCF 0.2× · Cheaper than median
EV/EBITDA 15.4× · Pricier than median

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 42 · sector 48
FUTURE 0 · sector 0
PAST 40 · sector 10
HEALTH 94 · sector 84
DIVIDEND 40 · sector 38

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 Real Estate - Development stocks, each showing price versus our Fair Value estimate (as of Jul 21, 2026).

Stock Price Fair Value vs Fair Value
DLF Limited DLF ₹657.75 ₹159.49 -76%
Lodha Developers Limited LODHA ₹1,188 ₹583.43 -51%
PT Pantai Indah Kapuk Dua Tbk, PANI 6,125 IDR 1,330 IDR -78%
Oberoi Realty Limited OBEROIRLTY ₹1,925 ₹1,183 -39%
Godrej Properties Limited GODREJPROP ₹2,102 ₹1,044 -50%
PT Jaya Real Property, Tbk., JRPT 1,080 IDR 1,674 IDR +55%
PT Bumi Serpong Damai Tbk, BSDE 555.00 IDR 1,388 IDR +150%
PT Sentul City Tbk, BKSL 64.00 IDR 84.16 IDR +32%
PT Ciputra Development Tbk, CTRA 555.00 IDR 1,388 IDR +150%
PT Duta Pertiwi Tbk DUTI 4,100 IDR 6,239 IDR +52%

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Frequently asked questions

Is Ascent Development Co (1439) overvalued or undervalued?
As of Jul 21, 2026, our model estimates a fair value of 31.11 TWD versus a price of 29.25 TWD, about +6% (fairly valued).
What is the fair value of 1439?
Our model-based fair value for Ascent Development Co is 31.11 TWD (as of Jul 21, 2026), built from audited fundamentals. The current price is 29.25 TWD.
What is the quality score of 1439?
Ascent Development Co has a Quality Score of 54/100. 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 Ascent Development Co (1439)?
Ascent Development Co reported trailing-twelve-month revenue of about 753M TWD (latest available figure, as of Jul 21, 2026).
What is the net profit margin of 1439?
The net profit margin of Ascent Development Co is about 37.6%, meaning it keeps roughly 37.6% of revenue as net income. Based on the latest reported figures.
Does Ascent Development Co pay a dividend?
Ascent Development Co currently shows a dividend yield of about 1.99% 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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