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Hong Ho Precision Textile Co (1446) Fair Value & Analysis

Consumer Cyclical · TW · Market cap 1.9B TWD

HH Hong Ho Precision Textile Co 1446 · TW
Price13.95 TWD
Fair Value35.72 TWD
Upside+156.1%
Quality66/100
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Mixed Growth
Highly profitable · 25.8% net margin
Low debt · generates free cash flow
10.68% dividend yield
Ranks above peers (12/15)
Moderate moat 57/100
Evidence: High Range 26.79 TWD – 44.65 TWD Share as image

Fair value as of: Jul 23, 2026

From 25 valuation models · updated 18 days ago

Share price −7.0% over the past month.

A solid business, screening 156% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (26.79 TWD). The market is more pessimistic than our downside scenario.
  • Solid quality (66/100) at a price below fair value, the discount is the argument here, not the business quality.
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Price vs Fair Value (5 years)

60.40 TWD 13.60 TWD Fair Value 35.72 TWD Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 23, 2026.

How to read this chart

60‑month range 13.60 TWD – 60.40 TWD · fair‑value band 26.79 TWD – 44.65 TWD · the 13.95 TWD price screens below the 35.72 TWD fair value. Dashed = 300-day average. As of Jul 23, 2026.

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Analysis

Hong Ho Precision Textile Co (1446) currently trades at 13.95 TWD, while our model-based Fair Value estimate is 35.72 TWD, implying the stock looks roughly 156.1% undervalued today. The Quality Score stands at 66/100 (solid quality), in the Consumer Cyclical 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: high), always confirm before acting.

Over the trailing twelve months, Hong Ho Precision Textile Co generated revenue of 907M TWD at a net margin of 25.8%. Revenue declined 38.5% year over year. It earns a return on equity of 8.2%. The balance sheet holds a net cash position of 1.2B TWD. Fundamentals as of Jul 23, 2026

Our scenario range runs from 26.79 TWD (bear case) to 44.65 TWD (bull case); at 13.95 TWD, the current price sits below 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 46% below its 52-week high, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at -27% fair-value upside, at 156%, 1446 screens cheaper 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 52.84 TWD 79.75 TWD 118.75 TWD 80
Residual Income 16.02 TWD 16.94 TWD 17.86 TWD 76
Rev-Margin DCF 29.15 TWD 36.57 TWD 44.81 TWD 74
All 25 models by family
DCF Models
FCF DCF 53.64 TWD 84.54 TWD 132.40 TWD 38
5Y Revenue Exit 29.15 TWD 36.44 TWD 44.98 TWD 39
5Y EBITDA Exit 38.06 TWD 54.94 TWD 75.40 TWD 41
5Y P/E Exit 40.76 TWD 60.56 TWD 82.81 TWD 38
10Y Revenue Exit 37.92 TWD 47.75 TWD 60.60 TWD 36
10Y EBITDA Exit 43.52 TWD 60.19 TWD 84.04 TWD 37
10Y P/E Exit 45.17 TWD 63.97 TWD 89.74 TWD 35
Earnings-Based
Graham-Dodd 11.04 TWD 52.80 TWD 72.66 TWD 54
Lynch FV 14.07 TWD 20.10 TWD 26.13 TWD 50
PEG = 1.0 14.07 TWD 20.10 TWD 26.13 TWD 46
EPV 24.66 TWD 26.82 TWD 28.63 TWD 59
Dividend Discount
Gordon GGM 15.54 TWD 28.00 TWD 38.55 TWD 70
DDM Multi-Stage 15.54 TWD 25.58 TWD 29.91 TWD 61
Multiples
P/E Multiple 26.79 TWD 35.72 TWD 44.65 TWD 63
P/S Multiple 6.66 TWD 8.89 TWD 11.11 TWD 58
P/B Multiple 20.70 TWD 27.60 TWD 34.50 TWD 55
EV/EBIT 40.79 TWD 51.46 TWD 62.13 TWD 53
EV/EBITDA 30.88 TWD 38.24 TWD 45.61 TWD 54
EV/Revenue 15.00 TWD 17.66 TWD 20.33 TWD 43
Asset-Based
NCAV (Graham) 10.07 TWD 13.49 TWD 20.14 TWD 50
Growth DCF
Growth DCF 52.84 TWD 79.75 TWD 118.75 TWD 80
Rev-Margin DCF 29.15 TWD 36.57 TWD 44.81 TWD 74
Economic Profit
Residual Income 16.02 TWD 16.94 TWD 17.86 TWD 76
ROIC Compounder 26.13 TWD 31.06 TWD 37.22 TWD 72
Growth Earnings
Growth-Adj P/E 22.61 TWD 32.30 TWD 41.98 TWD 68

Widest divergence: DCF Models (60.19 TWD) versus Asset-Based (13.49 TWD). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 907M TWD
Revenue growth (YoY) -38.5%
Net margin 25.8%
Return on equity 8.2%
Free cash flow 577M TWD FY2025
P/E ratio 8.7
More key figures
Operating margin 22.3%
EPS (TTM) 1.62 TWD
Dividend yield 10.7%
EPS growth (YoY) +18.2%
Net cash 1.2B TWD FY2025

Figures from reported company fundamentals · as of Jul 23, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 66/100

Of which business quality 68 · Market factors (momentum, volatility) 35

Profitability 44
Margins and returns on capital today
Quality Growth 1
Are margins and returns improving?
Cashflow 100
Earnings quality: real cash, not paper profit
Fin. Strength 98
Balance sheet, leverage, solvency risk
Investment 67
Disciplined investing over empire-building
Low Volatility 87
Calm price path (market factor)
Momentum 21
Price trend over the last 3–12 months (market factor)
52W Momentum 1
Distance to the 52-week high (market factor)
Net Issuance 80
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

Hong Ho Precision Textile Co.,Ltd. engages in the manufacture and sale of various textile products in Taiwan. It is also involved in the preparation, weaving, outsourced dyeing, and finishing of textile products; the manufacture and sale of garments; and the construction of residential and commercial buildings for leasing and sale.

Full company description

Hong Ho Precision Textile Co.,Ltd. engages in the manufacture and sale of various textile products in Taiwan. It is also involved in the preparation, weaving, outsourced dyeing, and finishing of textile products; the manufacture and sale of garments; and the construction of residential and commercial buildings for leasing and sale. Hong Ho Precision Textile Co.,Ltd. was founded in 1967 and is headquartered in Tainan City, Taiwan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Hong Ho Precision Textile Co reported revenue of 1.0B TWD in FY2025 versus 193M TWD in FY2021, a compound +51.6%/yr. Reported net income was 224M TWD in FY2025.

Growth Quality 89/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
1.0B TWD
Latest YoY
−72.3%
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.
+87.1%
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.
+15.8%
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.
−6.2%
Revenue +51.6%/yr
FY21 193M TWD
FY22 156M TWD
FY23 573M TWD
FY24 3.7B TWD
FY25 1.0B TWD
Net income
FY21 −17.2M TWD
FY22 −37.8M TWD
FY23 110M TWD
FY24 1.4B TWD
FY25 224M TWD
Character of growth · EPS growth decomposed (2014-2025) +34.5 % p.a.
Revenue per share +8.0 pp

of which total revenue +8.0 pp · buybacks/dilution +0.0 pp

EBIT margin +26.1 pp
Tax rate +1.1 pp
Residual (interest, one-offs) −0.7 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).

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Cite: Fair Value Calculator (2026). "Hong Ho Precision Textile Co Fair Value". https://www.fairvalue-calculator.com/stock/1446

Peer Group

Textile Manufacturing · 307 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 66 · Top 25%
Fair Value upside +156% · Top 25%
Return on equity (TTM) 8% · Top 25%
Return on assets 5% · Top 25%
Net margin (TTM) 26% · Top 25%
Operating margin (TTM) 22% · Top 25%
Revenue growth -39% · Bottom 25%
Dividend yield (TTM) 10.7% · Top 25%

Valuation Multiples vs Textile Manufacturing median · lower = cheaper

P/E (TTM) 8.7× · Cheaper than 75% of peers
P/B 0.70× · Cheaper than median
P/S (TTM) 2.14× · Pricier than 75% of peers
P/FCF 0.1× · Cheaper than 75% of peers
EV/EBITDA 2.8× · Cheaper than 75% of peers
PEG 0.97× · 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 100 · sector 8
FUTURE 0 · sector 0
PAST 33 · sector 15
HEALTH 100 · sector 95
DIVIDEND 100 · sector 34

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 Textile Manufacturing stocks, each showing price versus our Fair Value estimate (as of Jul 23, 2026).

Stock Price Fair Value vs Fair Value
Shenzhou International Group 2313 HK$44.40 HK$75.65 +70%
Tongkun Group 601233 ¥23.56 ¥14.53 -38%
Inner Mongolia ERDOS Resources Co 600295 ¥12.04 ¥14.35 +19%
HMT (Xiamen) New Technical Materials Co 603306 ¥91.75 ¥12.85 -86%
Far Eastern New Century Corporation 1402 27.55 TWD 28.72 TWD +4%
K.P.R. Mill Limited KPRMILL ₹1,083 ₹467.49 -57%
Zhejiang Orient Holdings 600120 ¥5.18 ¥2.21 -57%
Vardhman Textiles Limited VTL ₹602.20 ₹437.53 -27%
Isiklar Enerji ve Yapi Holding IEYHO 174.20 TRY 323.84 TRY +86%
Shandong Fiberglass Group 605006 ¥16.75 ¥6.42 -62%

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Frequently asked questions

Is Hong Ho Precision Textile Co (1446) overvalued or undervalued?
As of Jul 23, 2026, our model estimates a fair value of 35.72 TWD versus a price of 13.95 TWD, about +156% (undervalued).
What is the fair value of 1446?
Our model-based fair value for Hong Ho Precision Textile Co is 35.72 TWD (as of Jul 23, 2026), built from audited fundamentals. The current price is 13.95 TWD.
What is the quality score of 1446?
Hong Ho Precision Textile Co has a Quality Score of 66/100. 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 Hong Ho Precision Textile Co (1446)?
Hong Ho Precision Textile Co reported trailing-twelve-month revenue of about 907M TWD (latest available figure, as of Jul 23, 2026).
What is the net profit margin of 1446?
The net profit margin of Hong Ho Precision Textile Co is about 25.8%, meaning it keeps roughly 25.8% of revenue as net income. Based on the latest reported figures.
Does Hong Ho Precision Textile Co pay a dividend?
Hong Ho Precision Textile Co currently shows a dividend yield of about 8.93% relative to its recent price (as of Jul 23, 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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