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Tung Mung Development Co (1480) Fair Value & Analysis

Basic Materials · TW · Market cap 3.4B TWD

TM Tung Mung Development Co 1480 · TWO
Price8.15 TWD
Fair Value12.75 TWD
Upside+56.5%
Quality42/100
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Mixed Growth
Loss-making · -3.4% net margin
Low debt · generates free cash flow
Mixed vs. peers (5/10)
Narrow moat 13/100
Evidence: Low Range 7.26 TWD – 18.24 TWD Share as image

Fair value as of: Jul 23, 2026

From 7 valuation models · updated 18 days ago

Share price −7.7% over the past month.

Below-average quality, screening 56% undervalued on our models.

What matters now

  • The large discount to fair value meets weak quality (42/100). That raises the risk this is a value trap rather than a bargain.
  • The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
  • A fairly wide model range (7.26 TWD to 18.24 TWD) leaves room in how you read the outcome.
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Price vs Fair Value (8 months)

10.55 TWD 7.97 TWD Fair Value 12.75 TWD Dec 2025 Aug 2026

White line = price, green steps = our fair value per fiscal year. As of Jul 23, 2026.

How to read this chart

8‑month range 7.97 TWD – 10.55 TWD · fair‑value band 7.26 TWD – 18.24 TWD · the 8.15 TWD price screens below the 12.75 TWD fair value. As of Jul 23, 2026.

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Analysis

Tung Mung Development Co (1480) currently trades at 8.15 TWD, while our model-based Fair Value estimate is 12.75 TWD, implying the stock looks roughly 56.5% undervalued today. The Quality Score stands at 42/100 (below-average quality), in the Basic Materials 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: low), always confirm before acting.

Over the trailing twelve months, Tung Mung Development Co generated revenue of 10.1B TWD at a net margin of -3.4%. Revenue grew 8.1% year over year. It earns a return on equity of -11.2%. Net debt stands at 1.5B TWD. Fundamentals as of Jul 23, 2026

Our scenario range runs from 7.26 TWD (bear case) to 18.24 TWD (bull case); at 8.15 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 23% below its 52-week high, currently below its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -7% fair-value upside, at 56%, 1480 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 9.68 TWD 12.50 TWD 17.43 TWD 80
Rev-Margin DCF 8.76 TWD 12.45 TWD 17.08 TWD 74
NCAV (Graham) 3.43 TWD 4.59 TWD 6.85 TWD 50
All 7 models by family
DCF Models
FCF DCF 9.35 TWD 12.26 TWD 17.79 TWD 38
5Y Revenue Exit 8.76 TWD 12.24 TWD 17.42 TWD 39
10Y Revenue Exit 8.72 TWD 11.56 TWD 14.70 TWD 36
Multiples
EV/Revenue 9.03 TWD 12.58 TWD 16.13 TWD 43
Asset-Based
NCAV (Graham) 3.43 TWD 4.59 TWD 6.85 TWD 50
Growth DCF
Growth DCF 9.68 TWD 12.50 TWD 17.43 TWD 80
Rev-Margin DCF 8.76 TWD 12.45 TWD 17.08 TWD 74

Widest divergence: Multiples (12.58 TWD) versus Asset-Based (4.59 TWD). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 10.1B TWD
Revenue growth (YoY) +8.1%
Net margin -3.4%
Return on equity -11.2%
Free cash flow 379M TWD FY2025
Operating margin -3.6%
More key figures
EPS (TTM) -0.8100 TWD
Net debt 1.5B TWD FY2025

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

Quality Score breakdown

Overall quality 42/100

Of which business quality 43 · Market factors (momentum, volatility) 37

Profitability 20
Margins and returns on capital today
Quality Growth 53
Are margins and returns improving?
Cashflow 38
Earnings quality: real cash, not paper profit
Fin. Strength 55
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 85
Calm price path (market factor)
Momentum 24
Price trend over the last 3–12 months (market factor)
52W Momentum 5
Distance to the 52-week high (market factor)
Net Issuance 14
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

Tung Mung Development Co., Ltd. engages in the manufacture and sale of stainless-steel products in Taiwan. It offers hot-rolled steel coils; and cold-rolled stainless-steel coils and sheets for use in constructions, medical equipment, kitchenware and cutlery, and home appliance applications.

Full company description

Tung Mung Development Co., Ltd. engages in the manufacture and sale of stainless-steel products in Taiwan. It offers hot-rolled steel coils; and cold-rolled stainless-steel coils and sheets for use in constructions, medical equipment, kitchenware and cutlery, and home appliance applications. The company was incorporated in 1957 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

Tung Mung Development Co reported revenue of 10.1B TWD in FY2025 versus 12.0B TWD in FY2021, a compound −4.3%/yr. Reported net income was −339M TWD in FY2025.

Growth Quality 40/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
10.1B TWD
Latest YoY
+16.1%
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.
−4.8%
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.
+4.8%
Avg. growth/yr (6Y) 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.
+3.1%
Revenue −4.3%/yr
FY21 12.0B TWD
FY22 11.7B TWD
FY23 8.9B TWD
FY24 8.7B TWD
FY25 10.1B TWD
Net income
FY21 1.1B TWD
FY22 126M TWD
FY23 −312M TWD
FY24 14.7M TWD
FY25 −339M TWD

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Cite: Fair Value Calculator (2026). "Tung Mung Development Co Fair Value". https://www.fairvalue-calculator.com/stock/1480

Peer Group

Steel · 378 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 42 · Below median
Fair Value upside +33% · Top 25%
Return on assets -3% · Bottom 25%
Net margin (TTM) -3% · Bottom 25%
Operating margin (TTM) -4% · Bottom 25%
Revenue growth 8% · Above median
Debt / equity 0.00× · Lower than 75% of peers

Valuation Multiples vs Steel median · lower = cheaper

P/S (TTM) 0.01× · Cheaper than 75% of peers
P/FCF 0.3× · Cheaper 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 77 · sector 19
FUTURE 41 · sector 4
PAST 0 · sector 15
HEALTH 100 · sector 95
DIVIDEND 0 · sector 41

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

Stock Price Fair Value vs Fair Value
Tata Steel Limited TTST $0.2010 $0.2000 -0%
JSW Steel Limited JSWSTEEL ₹1,227 ₹1,140 -7%
Baoshan Iron & Steel Co 600019 ¥5.89 ¥8.07 +37%
China Steel Corporation 2002A 38.55 TWD 8.74 TWD -77%
POSCO Holdings 005490 313,500 KRW 155,270 KRW -50%
Companhia Siderúrgica Nacional, SID 13,670 ARS 15,940 ARS +17%
Jindal Steel Limited JINDALSTEL ₹1,028 ₹545.12 -47%
Lloyds Metals and Energy Limited LLOYDSME ₹1,844 ₹1,098 -40%
Gerdau S.A GGBN 83.50 MXN 42.64 MXN -49%
Ternium S.A TXR 17,780 ARS 27,210 ARS +53%

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Frequently asked questions

Is Tung Mung Development Co (1480) overvalued or undervalued?
As of Jul 23, 2026, our model estimates a fair value of 12.75 TWD versus a price of 8.15 TWD, about +56% (undervalued).
What is the fair value of 1480?
Our model-based fair value for Tung Mung Development Co is 12.75 TWD (as of Jul 23, 2026), built from audited fundamentals. The current price is 8.15 TWD.
What is the quality score of 1480?
Tung Mung Development Co has a Quality Score of 42/100. 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 Tung Mung Development Co (1480)?
Tung Mung Development Co reported trailing-twelve-month revenue of about 10.1B TWD (latest available figure, as of Jul 23, 2026).
What is the net profit margin of 1480?
The net profit margin of Tung Mung Development Co is about -3.4%, meaning it is currently running at a net loss. Based on the latest reported figures.

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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