Tex-Ray Industrial Co Ltd (1467) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Tex-Ray Industrial Co Ltd TWD 12.85, price TWD 8.05, upside +59.6%, quality 46 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Tex-Ray Industrial Co., Ltd., together with its subsidiaries, engages in the textile business in Taiwan, the United States, China, Mexico, Africa, Vietnam, and internationally. The company is involved in the weaving, manufacturing, processing, dyeing, finishing, and trading of cotton, fabrics, fibers, textiles, and cotton yarns.
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Tex-Ray Industrial Co., Ltd., together with its subsidiaries, engages in the textile business in Taiwan, the United States, China, Mexico, Africa, Vietnam, and internationally. The company is involved in the weaving, manufacturing, processing, dyeing, finishing, and trading of cotton, fabrics, fibers, textiles, and cotton yarns. It also manufactures and sells sports and activewear, team and workwear, athleisure and lifestyle wear, outdoor wear, and kids wear under various brands. In addition, the company engages in the processing of copper materials; marketing; ultrasonic and supercritical cleaning; biotechnology services; garment and knitwear processing; printing; warehousing of textiles; footwear manufacturing and sale; development of smart apparel technology; and testing services and environmental assessment. It exports its products. The company was founded in 1978 and is headquartered in Taipei, Taiwan.
Stock analysis
Tex-Ray Industrial Co Ltd (1467) currently trades at 8.05 TWD, while our model-based Fair Value estimate is 12.85 TWD, implying the stock looks roughly 37.4% undervalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of 13.46 TWD per share, and 10 of the 11 models we run sit above the 8.05 TWD price.
Bear case: the Asset-Based group reads lowest at 8.44 TWD, and 1 of the 11 models stay below the price. Evidence for this calculation is low.
Scenario range: 9.65 TWD (bear) to 16.38 TWD (bull), the price of 8.05 TWD sits below 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 46/100 (below-average quality), in the Consumer Cyclical sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Tex-Ray Industrial Co Ltd reported revenue of 5.1B TWD in FY2025 versus 6.6B TWD in FY2021, a compound −6.2%/yr. Reported net income was −105M TWD in FY2025.
Key figures
Market cap 2.3B TWD (≈ $72.6M) · P/S ratio 0.45 · EPS (TTM) −0.4500 TWD · Net margin −2.0% · Return on equity −3.2% · Return on assets (EBIT) 0.2% · Operating margin 0.6% · Revenue (TTM) 5.1B TWD.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 29 out of 100 (medium confidence).
What moves the price
The share trades about 23% below its 52-week high and 17% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at −1% fair-value upside, at 60%, 1467 screens cheaper than that median.
Fair Value models
Bear 9.65 TWDFair Value 12.85 TWDBull 16.38 TWD
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single 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 ⓘEvidence = 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.
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.24/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+2.2%
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.
−5.6%
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.
−9.7%
Start year 2020 (pandemic). Over 10 years: −2.9% a year
Revenue growth 23 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.
+1.3%
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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.
5.0% (2020) → 0.0% (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.
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).
+8.5%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Taiwan: IMF forecast 1.6% a year to 2030, 1.5% from 2016 to 2025) that is about +6.8% a year for the price.
Compare Tex-Ray Industrial Co Ltd with another stock
Price, fair value, quality and upside side by side.
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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.Apparel Manufacturing · 228 stocks
Beats the industry median on 4/10 measures
A mixed picture versus its industry peers.
Valuation
Quality Score46 · Below median
Fair Value upside+60% · Top 25%
Profitability
Return on assets0% · Below median
Net margin (TTM)−2% · Bottom 25%
Operating margin (TTM)1% · Below median
Growth and dividend
Revenue growth−5% · Below median
Balance sheet
Debt / equity0.67× · Highest 25%
Valuation Multiplesvs Apparel Manufacturing median · lower = cheaper
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.
Cite: Fair Value Calculator (2026). "Tex-Ray Industrial Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/1467
Frequently asked questions
Is Tex-Ray Industrial Co Ltd (1467) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 12.85 TWD versus a price of 8.05 TWD, about +60% upside (undervalued).
What is the fair value of 1467?
Our model-based fair value for Tex-Ray Industrial Co Ltd is 12.85 TWD (as of Sep 24, 2026), built from audited fundamentals. The current price: 8.05 TWD.
What is the quality score of 1467?
Tex-Ray Industrial Co Ltd has a Quality Score of 46/100. 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 Tex-Ray Industrial Co Ltd (1467)?
Our model-based price target is the fair value of 12.85 TWD (as of Sep 24, 2026) from 11 valuation models. Cautious scenario 9.65 TWD, optimistic scenario 16.38 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Tex-Ray Industrial Co Ltd stock forecast for 2026?
Our models put fair value at 12.85 TWD, about +60% upside versus a price of 8.05 TWD (undervalued). Cautious scenario 9.65 TWD, optimistic scenario 16.38 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Tex-Ray Industrial Co Ltd (1467)?
Tex-Ray Industrial Co Ltd reported trailing-twelve-month revenue of about 5.1B TWD (latest available figure, as of Sep 24, 2026).
What growth is priced into Tex-Ray Industrial Co Ltd (1467)?
For today's price to be fair in a discounted-cash-flow model, Tex-Ray Industrial Co Ltd would have to grow free cash flow by +8.5 % per year for five years (discount rate 11.8 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -9.8 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 1467 use?
Our models discount Tex-Ray Industrial Co Ltd at 11.8 %: a base by market capitalisation (micro), damped by beta 0.31, 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 Tex-Ray Industrial Co Ltd that is +8.5 % per year a year over ten years, using the same discount rate (11.8 %) and the same formula as our fair value.
How much growth has Tex-Ray Industrial Co Ltd (1467) delivered so far?
Over the past 5 years revenue at Tex-Ray Industrial Co Ltd grew -9.8 % a year. The price currently implies +8.5 % 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 Tex-Ray Industrial Co Ltd (1467) growing?
The median revenue growth in the sector is +2.6 % a year. That is the yardstick for the growth priced into Tex-Ray Industrial Co Ltd (+8.5 % 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 Tex-Ray Industrial Co Ltd (1467)?
The free-cash-flow yield on the price is 13.87 %: that much free cash flow Tex-Ray Industrial Co Ltd produces per unit of market value. When it exceeds the discount rate of our models (11.8 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Tex-Ray Industrial Co Ltd (1467)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Tex-Ray Industrial Co Ltd it is 12.85 TWD per share (as of Sep 24, 2026), against a price of 8.05 TWD. It is the blended result of 11 valuation models (cash flow, earnings, asset, dividend).
Is Tex-Ray Industrial Co Ltd stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 1467 trades below its calculated fair value: price 8.05 TWD, fair value 12.85 TWD, a gap of about +60% (undervalued). 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 1467?
No. The price is what the market pays today (8.05 TWD); the fair value is what the company's own numbers justify (12.85 TWD). For Tex-Ray Industrial Co Ltd the two are 4.80 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Tex-Ray Industrial Co Ltd worth?
The market values Tex-Ray Industrial Co Ltd at about 2.3B TWD (market capitalisation, as of Sep 24, 2026). Per share that is 8.05 TWD; our models calculate a fair value of 12.85 TWD per share.
What do the bullish and bearish scenarios say about 1467?
Our models span a range for Tex-Ray Industrial Co Ltd: cautious scenario 9.65 TWD, base 12.85 TWD, optimistic 16.38 TWD per share (as of Sep 24, 2026, price 8.05 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Tex-Ray Industrial Co Ltd (1467)?
Balance-sheet figures for Tex-Ray Industrial Co Ltd (as of Sep 24, 2026): return on equity −3.2%, debt of 0.67 per unit of equity. They feed the Quality Score of 46/100, which measures business quality independently of the share price.
How far is 1467 from its 52-week high?
Tex-Ray Industrial Co Ltd trades at 8.05 TWD, about 23% below its 52-week high of 10.50 TWD and 17% above the low of 6.88 TWD (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 12.85 TWD is for.
Which stocks are comparable to Tex-Ray Industrial Co Ltd?
From the same area (Consumer Cyclical) we also value Ralph Lauren Corporation, Moncler S.p.A, Gildan Activewear Inc, LPP SA, 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 Tex-Ray Industrial Co Ltd stock attractive at the current price?
The data as of Sep 24, 2026: price 8.05 TWD, calculated fair value 12.85 TWD (+60%), Quality Score 46/100, from 11 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 1467 calculated?
We run Tex-Ray Industrial Co Ltd through 11 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 12.85 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 14.0 % above its aggregate fair value. Tex-Ray Industrial Co Ltd currently trades 60 % below its own fair value, and the market average says nothing about that. 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 Tex-Ray Industrial Co Ltd (1467)?
The closing price on Sep 24, 2026 was 8.05 TWD. Our model-based fair value is 12.85 TWD, about +60% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Tex-Ray Industrial Co Ltd right now?
The price is below even our cautious bear case (9.65 TWD). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid quality (46/100) at a price below fair value, the discount is the argument here, not the business quality.
Key figures of Tex-Ray Industrial Co Ltd
How large is the market capitalisation of Tex-Ray Industrial Co Ltd (1467)?
The market capitalisation of Tex-Ray Industrial Co Ltd is 2.3B TWD (≈ $72.6M). 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 Tex-Ray Industrial Co Ltd (1467)?
The price-to-sales ratio of Tex-Ray Industrial Co Ltd is 0.45 (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 Tex-Ray Industrial Co Ltd (1467)?
Earnings per share at Tex-Ray Industrial Co Ltd are −0.4500 TWD. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Tex-Ray Industrial Co Ltd (1467)?
The net margin of Tex-Ray Industrial Co Ltd is −2.0% (fiscal year 2025). 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 Tex-Ray Industrial Co Ltd (1467)?
The return on equity (ROE) of Tex-Ray Industrial Co Ltd is −3.2% (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 Tex-Ray Industrial Co Ltd (1467)?
On an EBIT basis the return on assets of Tex-Ray Industrial Co Ltd is 0.2% (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 Tex-Ray Industrial Co Ltd (1467)?
The operating margin of Tex-Ray Industrial Co Ltd is 0.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Tex-Ray Industrial Co Ltd (1467)?
Revenue at Tex-Ray Industrial Co Ltd is growing −4.9% versus a year earlier (3y avg −5.6%). 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 Tex-Ray Industrial Co Ltd (1467)?
Earnings per share at Tex-Ray Industrial Co Ltd are growing +450% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Tex-Ray Industrial Co Ltd (1467) carry?
The net debt of Tex-Ray Industrial Co Ltd is 2.9B TWD (fiscal year 2025, ≈ 11.2 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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