St.Shine Optical Co Ltd (1565) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of St.Shine Optical Co Ltd TWD 157, price TWD 95.50, upside +64.6%, quality 64 out of 100. Calculated from audited financials with 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, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range 92.00 TWD – 318.93 TWD · fair‑value band 126.18 TWD – 204.30 TWD · the 95.50 TWD price screens below the 157.16 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
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St.Shine Optical Co.,Ltd., together with its subsidiaries, manufactures, sells, and trades contact lenses, optical lenses, and related products in Asia, Europe, America, and Taiwan. The company's product portfolio includes daily disposable, frequent replacement, color, and silicone hydrogel soft contact lens, as well as cast-molded soft contact lenses.
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St.Shine Optical Co.,Ltd., together with its subsidiaries, manufactures, sells, and trades contact lenses, optical lenses, and related products in Asia, Europe, America, and Taiwan. The company's product portfolio includes daily disposable, frequent replacement, color, and silicone hydrogel soft contact lens, as well as cast-molded soft contact lenses. It offers its products under the Ticon brand name. The company's products are used to correct vision defects, such as myopia, hyperopia, and astigmatism. It also provides consulting services. The company was formerly known as First Optical Co., Ltd. and changed its name to St.Shine Optical Co.,Ltd. in 1986. St.Shine Optical Co.,Ltd. was founded in 1981 and is headquartered in New Taipei City, Taiwan.
Stock analysis
St.Shine Optical Co Ltd (1565) currently trades at 95.50 TWD, while our model-based Fair Value estimate is 157.16 TWD, implying the stock looks roughly 39.2% undervalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of 189.15 TWD per share, and 20 of the 23 models we run sit above the 95.50 TWD price.
Bear case: the Asset-Based group reads lowest at 87.06 TWD, and 3 of the 23 models stay below the price. Evidence for this calculation is high.
Scenario range: 126.18 TWD (bear) to 204.30 TWD (bull), the price of 95.50 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 64/100 (solid quality), in the Healthcare sector.
Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.
St.Shine Optical Co Ltd reported revenue of 4.1B TWD in FY2025 versus 5.4B TWD in FY2021, a compound −6.6%/yr. Reported net income was 455M TWD in FY2025, compounding −16.8%/yr from FY2021.
Key figures
Market cap 4.8B TWD (≈ $152M) · P/E ratio 10.6 · P/S ratio 1.17 · EPS (TTM) 9.03 TWD · Dividend yield 6.1% · Net margin 11.1% · Return on equity 5.6% · Return on assets (EBIT) 11.0%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 47 out of 100 (low confidence).
What moves the price
The share trades about 32% below its 52-week high and 4% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Healthcare peers we cover trades at −13% fair-value upside, at 65%, 1565 screens cheaper than that median.
Fair Value models
Bear 126.18 TWDFair Value 157.16 TWDBull 204.30 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. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (2.28 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.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.40/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−9.5%
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.
−6.3%
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.
−3.8%
Start year 2020 (pandemic). Over 10 years: −3.5% 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.
+11.2%
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What shareholders gained per year (last 5 years), in TWD ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: EBIT basis. Measured in TWD: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
−6.7%
Earnings growth per share plus dividend.
Earnings per share, growth per year−12.8%
Dividend (yield on the price)6.1%
Profit margin 2020 to 2025 ⓘ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.19% → 14%
⚠ Revenue per share shrinking 6.3%/yr over ~6Y (margins eroding too) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
Growth Forecast
Little optimism in the price
The price assumes less 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).
−8.4%
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 −9.9% a year for the price.
Compare St.Shine Optical Co Ltd with another stock
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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.Medical Instruments & Supplies · 204 stocks
Beats the industry median on 11/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score64 · Above median
Fair Value upside+65% · Top 25%
Profitability
Return on equity (TTM)6% · Below median
Return on assets4% · Above median
Net margin (TTM)9% · Above median
Operating margin (TTM)8% · Below median
Growth and dividend
Revenue growth−19% · Bottom 25%
Dividend yield (TTM)6.1% · Top 25%
Balance sheet
Debt / equity0.01× · Below median
Valuation Multiplesvs Medical Instruments & Supplies 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). "St.Shine Optical Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/1565
Frequently asked questions
Is St.Shine Optical Co Ltd (1565) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 157.16 TWD versus a price of 95.50 TWD, about +65% upside (undervalued).
What is the fair value of 1565?
Our model-based fair value for St.Shine Optical Co Ltd is 157.16 TWD (as of Sep 24, 2026), built from audited fundamentals. The current price: 95.50 TWD.
What is the quality score of 1565?
St.Shine Optical Co Ltd has a Quality Score of 64/100. 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 St.Shine Optical Co Ltd (1565)?
Our model-based price target is the fair value of 157.16 TWD (as of Sep 24, 2026) from 23 valuation models. Cautious scenario 126.18 TWD, optimistic scenario 204.30 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the St.Shine Optical Co Ltd stock forecast for 2026?
Our models put fair value at 157.16 TWD, about +65% upside versus a price of 95.50 TWD (undervalued). Cautious scenario 126.18 TWD, optimistic scenario 204.30 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of St.Shine Optical Co Ltd (1565)?
St.Shine Optical Co Ltd reported trailing-twelve-month revenue of about 3.9B TWD (latest available figure, as of Sep 24, 2026).
Does St.Shine Optical Co Ltd pay a dividend?
St.Shine Optical Co Ltd currently shows a dividend yield of about 6.07% relative to its recent price (as of Sep 24, 2026).
What growth is priced into St.Shine Optical Co Ltd (1565)?
For today's price to be fair in a discounted-cash-flow model, St.Shine Optical Co Ltd would have to grow free cash flow by -8.4 % 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 -3.8 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 1565 use?
Our models discount St.Shine Optical Co Ltd at 11.8 %: a base by market capitalisation (micro), damped by beta 0.30, 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 St.Shine Optical Co Ltd that is -8.4 % 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 St.Shine Optical Co Ltd (1565) delivered so far?
Over the past 5 years revenue at St.Shine Optical Co Ltd grew -3.8 % a year. The price currently implies -8.4 % 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 St.Shine Optical Co Ltd (1565) growing?
The median revenue growth in the sector is +4.2 % a year. That is the yardstick for the growth priced into St.Shine Optical Co Ltd (-8.4 % 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 St.Shine Optical Co Ltd (1565)?
The free-cash-flow yield on the price is 10.55 %: that much free cash flow St.Shine Optical 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 St.Shine Optical Co Ltd (1565)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For St.Shine Optical Co Ltd it is 157.16 TWD per share (as of Sep 24, 2026), against a price of 95.50 TWD. It is the blended result of 23 valuation models (cash flow, earnings, asset, dividend).
Is St.Shine Optical Co Ltd stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 1565 trades below its calculated fair value: price 95.50 TWD, fair value 157.16 TWD, a gap of about +65% (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 1565?
No. The price is what the market pays today (95.50 TWD); the fair value is what the company's own numbers justify (157.16 TWD). For St.Shine Optical Co Ltd the two are 61.66 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is St.Shine Optical Co Ltd worth?
The market values St.Shine Optical Co Ltd at about 4.8B TWD (market capitalisation, as of Sep 24, 2026). Per share that is 95.50 TWD; our models calculate a fair value of 157.16 TWD per share.
What do the bullish and bearish scenarios say about 1565?
Our models span a range for St.Shine Optical Co Ltd: cautious scenario 126.18 TWD, base 157.16 TWD, optimistic 204.30 TWD per share (as of Sep 24, 2026, price 95.50 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 1565?
St.Shine Optical Co Ltd trades at a price-to-earnings ratio of 10.6 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 157.16 TWD is built from several models across several years. Other multiples: P/B 0.7, P/S 1.2, EV/EBITDA 4.3.
How solid is the balance sheet of St.Shine Optical Co Ltd (1565)?
Balance-sheet figures for St.Shine Optical Co Ltd (as of Sep 24, 2026): return on equity 5.6%, debt of 0.01 per unit of equity. They feed the Quality Score of 64/100, which measures business quality independently of the share price.
How far is 1565 from its 52-week high?
St.Shine Optical Co Ltd trades at 95.50 TWD, about 32% below its 52-week high of 141.00 TWD and 4% above the low of 92.00 TWD (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 157.16 TWD is for.
Which stocks are comparable to St.Shine Optical Co Ltd?
From the same area (Healthcare) we also value Intuitive Surgical, Inc, EssilorLuxottica Société anonyme, Medline Inc, Becton, Dickinson and 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 St.Shine Optical Co Ltd stock attractive at the current price?
The data as of Sep 24, 2026: price 95.50 TWD, calculated fair value 157.16 TWD (+65%), Quality Score 64/100, from 23 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 1565 calculated?
We run St.Shine Optical Co Ltd through 23 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 157.16 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. St.Shine Optical Co Ltd currently trades 65 % 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 St.Shine Optical Co Ltd (1565)?
The closing price on Sep 24, 2026 was 95.50 TWD. Our model-based fair value is 157.16 TWD, about +65% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with St.Shine Optical Co Ltd right now?
The price is below even our cautious bear case (126.18 TWD). The market is more pessimistic than our downside scenario. Solid quality (64/100) at a price below fair value, the discount is the argument here, not the business quality.
Key figures of St.Shine Optical Co Ltd
How large is the market capitalisation of St.Shine Optical Co Ltd (1565)?
The market capitalisation of St.Shine Optical Co Ltd is 4.8B TWD (≈ $152M). 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 St.Shine Optical Co Ltd (1565)?
The price-to-sales ratio of St.Shine Optical Co Ltd is 1.17 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of St.Shine Optical Co Ltd (1565)?
Earnings per share at St.Shine Optical Co Ltd are 9.03 TWD (price ÷ EPS = P/E 10.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of St.Shine Optical Co Ltd (1565)?
The dividend yield of St.Shine Optical Co Ltd is 6.1% (payout 64.3%). 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 St.Shine Optical Co Ltd (1565)?
The net margin of St.Shine Optical Co Ltd is 11.1% (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 St.Shine Optical Co Ltd (1565)?
The return on equity (ROE) of St.Shine Optical Co Ltd is 5.6% (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 St.Shine Optical Co Ltd (1565)?
On an EBIT basis the return on assets of St.Shine Optical Co Ltd is 11.0% (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 St.Shine Optical Co Ltd (1565)?
The operating margin of St.Shine Optical Co Ltd is 7.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at St.Shine Optical Co Ltd (1565)?
Revenue at St.Shine Optical Co Ltd is growing −19.0% versus a year earlier (3y avg −6.3%). 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 St.Shine Optical Co Ltd (1565)?
Earnings per share at St.Shine Optical Co Ltd are growing −59.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does St.Shine Optical Co Ltd (1565) hold?
St.Shine Optical Co Ltd holds more cash than debt, 1.4B TWD net (fiscal year 2023). The company holds more cash than debt, a safety cushion.
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