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Inmax Holding (1591) Fair Value & Analysis

Industrials · TW · Market cap 1.2B TWD

IH Inmax Holding 1591 · TWO
Price35.00 TWD
Fair Value3.66 TWD
Upside-89.5%
Quality33/100
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Weak Growth
Loss-making · -36.7% net margin
Low debt · negative free cash flow
Mixed vs. peers (4/10)
Narrow moat 10/100
Evidence: Low Range 3.40 TWD – 4.04 TWD Share as image

Fair value as of: Jul 21, 2026

From 3 valuation models · updated 20 days ago

Fair value updated Jul 21, 2026, revised from 3.68 TWD to 3.66 TWD (−0.5%) since Jul 7, 2026. Share price +12.4% over the past month.

Below-average quality, and screening another 90% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (4.04 TWD). The favourable scenario is already priced in.
  • Weak quality (33/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
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Price vs Fair Value (5 years)

80.60 TWD 12.81 TWD Fair Value 3.66 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 12.81 TWD – 80.60 TWD · fair‑value band 3.40 TWD – 4.04 TWD · the 35.00 TWD price screens above the 3.66 TWD fair value. Dashed = 300-day average. As of Jul 21, 2026.

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Analysis

Inmax Holding (1591) currently trades at 35.00 TWD, while our model-based Fair Value estimate is 3.66 TWD, implying the stock looks roughly 89.5% overvalued today. The Quality Score stands at 33/100 (below-average quality), in the Industrials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: low).

Over the trailing twelve months, Inmax Holding generated revenue of 240M TWD at a net margin of -36.7%. It earns a return on equity of -16.6%. The balance sheet holds a net cash position of 42.4M TWD. Fundamentals as of Jul 21, 2026

Our scenario range runs from 3.40 TWD (bear case) to 4.04 TWD (bull case); at 35.00 TWD, the current price sits above 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 50% below its 52-week high and 12% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -26% fair-value upside, at -90%, 1591 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
Gordon GGM 3.50 TWD 3.77 TWD 4.18 TWD 70
DDM Multi-Stage 3.50 TWD 4.17 TWD 5.03 TWD 61
NCAV (Graham) 6.33 TWD 8.49 TWD 12.67 TWD 50
All 3 models by family
Dividend Discount
Gordon GGM 3.50 TWD 3.77 TWD 4.18 TWD 70
DDM Multi-Stage 3.50 TWD 4.17 TWD 5.03 TWD 61
Asset-Based
NCAV (Graham) 6.33 TWD 8.49 TWD 12.67 TWD 50

Widest divergence: Asset-Based (8.49 TWD) versus Dividend Discount (3.77 TWD). Highest evidence: Gordon GGM (70).

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Key figures & financial health

Revenue (TTM) 240M TWD
Revenue growth (YoY) +878%
Net margin -36.7%
Return on equity -16.6%
Free cash flow −129M TWD FY2025
Operating margin -2.9%
More key figures
EPS (TTM) -2.75 TWD
EPS growth (YoY) +81.5%
Net cash 42.4M TWD FY2023

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

Quality Score breakdown

Overall quality 33/100

Of which business quality 36 · Market factors (momentum, volatility) 9

Profitability 0
Margins and returns on capital today
Quality Growth 0
Are margins and returns improving?
Cashflow 15
Earnings quality: real cash, not paper profit
Fin. Strength 89
Balance sheet, leverage, solvency risk
Investment 85
Disciplined investing over empire-building
Low Volatility 25
Calm price path (market factor)
Momentum 0
Price trend over the last 3–12 months (market factor)
52W Momentum 6
Distance to the 52-week high (market factor)
Net Issuance 37
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

Inmax Holding Co., Ltd. manufactures and sells a range of fasteners. It offers pneumatic and industrial nails; coil roofing nails for roofing, asphalt and fiberglass shingles, lathing, insulation board, vinyl siding, fiber cement roofing and siding, and waterproof tar paper applications; coil nails for use in wooden pallets and wooden boxes assembly, …

Full company description

Inmax Holding Co., Ltd. manufactures and sells a range of fasteners. It offers pneumatic and industrial nails; coil roofing nails for roofing, asphalt and fiberglass shingles, lathing, insulation board, vinyl siding, fiber cement roofing and siding, and waterproof tar paper applications; coil nails for use in wooden pallets and wooden boxes assembly, siding, decking, panel sheathing, and fencing; and staples for furniture and wooden box manufacturing, as well as for fastening works, such as architectural applications. The company also provides brads for use in finish, trim, drawers, and cabinets; and plastic strip and paper tape nails for framing, sheathing, sub flooring, roof decking, and exterior decks. Inmax Holding Co., Ltd. was incorporated in 1990 and is headquartered in George Town, the Cayman Islands.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Inmax Holding reported revenue of 121M TWD in FY2025 versus 573M TWD in FY2021, a compound −32.2%/yr. Reported net income was −104M TWD in FY2025.

Growth Quality 0/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
121M TWD
Latest YoY
−43.6%
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.
−43.8%
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.
−27.7%
Avg. growth/yr (8Y) 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.
−14.3%
Revenue −32.2%/yr
FY21 573M TWD
FY22 682M TWD
FY23 71.7M TWD
FY24 215M TWD
FY25 121M TWD
Net income
FY21 49.8M TWD
FY22 85.9M TWD
FY23 −49.4M TWD
FY24 −44.3M TWD
FY25 −104M TWD

1591 screens 90% overvalued. Compare with Techtronic Industries Company →

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Cite: Fair Value Calculator (2026). "Inmax Holding Fair Value". https://www.fairvalue-calculator.com/stock/1591

Peer Group

Tools & Accessories · 119 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 33 · Bottom 25%
Fair Value upside −90% · Bottom 25%
Return on assets -9% · Bottom 25%
Net margin (TTM) -37% · Bottom 25%
Operating margin (TTM) -3% · Bottom 25%
Revenue growth 878% · Top 25%

Valuation Multiples vs Tools & Accessories median · lower = cheaper

P/B 0.08× · Cheaper than 75% of peers
P/S (TTM) 0.15× · Cheaper than 75% of peers

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 0 · sector 3
FUTURE 100 · sector 14
PAST 0 · sector 28
HEALTH 100 · sector 96
DIVIDEND 0 · sector 36

VALUE 0: the price sits above our fair-value range.

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 Tools & Accessories stocks, each showing price versus our Fair Value estimate (as of Jul 21, 2026).

Stock Price Fair Value vs Fair Value
Techtronic Industries Company 0669 HK$129.60 HK$81.05 -37%
Snap-on Incorporated SNA $410.99 $350.46 -15%
RBC Bearings Incorporated RBC $595.49 $184.29 -69%
Lincoln Electric Holdings LECO $252.58 $154.80 -39%
Stanley Black & Decker, Inc SWK $88.22 $54.24 -39%
AB SKF (publ) SKFB kr 258.90 kr 192.57 -26%
The Timken Company TKR $139.47 $66.33 -52%
The Toro Company TTC $94.42 $69.71 -26%
SFS Group SFSN CHF 140.00 CHF 118.30 -16%
Hangzhou Greatstar Industrial Co 002444 ¥29.33 ¥35.72 +22%

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Frequently asked questions

Is Inmax Holding (1591) overvalued or undervalued?
As of Jul 21, 2026, our model estimates a fair value of 3.66 TWD versus a price of 35.00 TWD, about −90% (overvalued).
What is the fair value of 1591?
Our model-based fair value for Inmax Holding is 3.66 TWD (as of Jul 21, 2026), built from audited fundamentals. The current price is 35.00 TWD.
What is the quality score of 1591?
Inmax Holding has a Quality Score of 33/100. 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 Inmax Holding (1591)?
Inmax Holding reported trailing-twelve-month revenue of about 240M TWD (latest available figure, as of Jul 21, 2026).
What is the net profit margin of 1591?
The net profit margin of Inmax Holding is about -36.7%, 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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