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Taiwan Fertilizer Co (1722) Fair Value & Analysis

Basic Materials · TW · Market cap 45.6B TWD

TF Taiwan Fertilizer Co 1722 · TW
Price45.50 TWD
Fair Value25.70 TWD
Upside-43.5%
Quality59/100
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Healthy Growth
Thin margins · 8.1% net margin
Low debt · generates free cash flow
4.25% dividend yield
Mixed vs. peers (7/15)
Narrow moat 26/100
Evidence: High Range 19.28 TWD – 32.12 TWD Share as image

Fair value as of: Jul 23, 2026

From 22 valuation models · updated 18 days ago

Fair value updated Jul 23, 2026, revised from 16.17 TWD to 25.70 TWD (+58.9%) since Jul 7, 2026. Share price −5.3% over the past month.

A solid business, but screening 44% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (32.12 TWD). The favourable scenario is already priced in.
  • Solid but not exceptional quality (59/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

70.24 TWD 43.25 TWD Fair Value 25.70 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 43.25 TWD – 70.24 TWD · fair‑value band 19.28 TWD – 32.12 TWD · the 45.50 TWD price screens above the 25.70 TWD fair value. Dashed = 300-day average. As of Jul 23, 2026.

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Analysis

Taiwan Fertilizer Co (1722) currently trades at 45.50 TWD, while our model-based Fair Value estimate is 25.70 TWD, implying the stock looks roughly 43.5% overvalued today. The Quality Score stands at 59/100 (solid quality), in the Basic Materials 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: high).

Over the trailing twelve months, Taiwan Fertilizer Co generated revenue of 12.5B TWD at a net margin of 8.1%. Revenue grew 12.6% year over year. It earns a return on equity of 1.8%. The balance sheet holds a net cash position of 1.4B TWD. Fundamentals as of Jul 23, 2026

Our scenario range runs from 19.28 TWD (bear case) to 32.12 TWD (bull case); at 45.50 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 15% below its 52-week high and 3% above its 52-week low, currently below its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -13% fair-value upside, at -44%, 1722 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 BearBaseBull Evidence
Highest evidence
Growth DCF 21.52 TWD 28.35 TWD 40.62 TWD 80
Residual Income 38.62 TWD 36.40 TWD 28.06 TWD 76
Rev-Margin DCF 10.71 TWD 12.95 TWD 16.05 TWD 74
All 22 models by family
DCF Models
FCF DCF 20.70 TWD 27.69 TWD 41.38 TWD 38
Owner Earnings 20.73 TWD 27.72 TWD 41.43 TWD 31
5Y Revenue Exit 10.71 TWD 12.51 TWD 15.20 TWD 39
5Y EBITDA Exit 16.14 TWD 21.79 TWD 29.49 TWD 41
5Y P/E Exit 15.25 TWD 20.28 TWD 26.49 TWD 38
10Y Revenue Exit 14.34 TWD 16.31 TWD 18.25 TWD 36
10Y EBITDA Exit 17.76 TWD 22.29 TWD 27.15 TWD 37
10Y P/E Exit 17.21 TWD 21.31 TWD 25.28 TWD 35
Earnings-Based
Graham-Dodd 6.47 TWD 9.58 TWD 11.34 TWD 54
EPV 3.24 TWD 3.53 TWD 3.79 TWD 59
Multiples
P/E Multiple 12.13 TWD 16.17 TWD 20.21 TWD 63
P/S Multiple 12.13 TWD 16.17 TWD 20.21 TWD 58
P/B Multiple 12.13 TWD 16.17 TWD 20.21 TWD 55
EV/EBIT 5.36 TWD 6.65 TWD 7.95 TWD 53
EV/EBITDA 15.27 TWD 19.87 TWD 24.47 TWD 54
EV/Revenue 4.84 TWD 6.28 TWD 7.72 TWD 43
Asset-Based
NCAV (Graham) 27.69 TWD 37.11 TWD 55.38 TWD 50
Growth DCF
Growth DCF 21.52 TWD 28.35 TWD 40.62 TWD 80
Rev-Margin DCF 10.71 TWD 12.95 TWD 16.05 TWD 74
Economic Profit
Residual Income 38.62 TWD 36.40 TWD 28.06 TWD 76
ROIC Compounder 3.24 TWD 3.53 TWD 3.79 TWD 72
Growth Earnings
Growth-Adj P/E 8.64 TWD 12.34 TWD 16.05 TWD 68

Widest divergence: Asset-Based (37.11 TWD) versus Earnings-Based (3.53 TWD). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 12.5B TWD
Revenue growth (YoY) +12.6%
Net margin 8.1%
Return on equity 1.8%
Free cash flow 1.9B TWD FY2025
P/E ratio 50.9
More key figures
Operating margin -1.3%
EPS (TTM) 0.9500 TWD
Dividend yield 4.2%
EPS growth (YoY) +88.3%
Net cash 1.4B TWD FY2025

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

Quality Score breakdown

Overall quality 59/100

Of which business quality 59 · Market factors (momentum, volatility) 49

Profitability 18
Margins and returns on capital today
Quality Growth 33
Are margins and returns improving?
Cashflow 79
Earnings quality: real cash, not paper profit
Fin. Strength 64
Balance sheet, leverage, solvency risk
Investment 95
Disciplined investing over empire-building
Low Volatility 96
Calm price path (market factor)
Momentum 36
Price trend over the last 3–12 months (market factor)
52W Momentum 19
Distance to the 52-week high (market factor)
Net Issuance 82
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

Taiwan Fertilizer Co., Ltd., together with its subsidiaries, manufactures and sells inorganic and organic fertilizers, and other chemical products in Taiwan and internationally. It operates in three segments: Fertilizer and Chemical; Real Estate and Investment Business; and Others.

Full company description

Taiwan Fertilizer Co., Ltd., together with its subsidiaries, manufactures and sells inorganic and organic fertilizers, and other chemical products in Taiwan and internationally. It operates in three segments: Fertilizer and Chemical; Real Estate and Investment Business; and Others. The company offers fertilizer products, including single nutrient, potassium sulfate organic compound, potassium sulfate nitrophosphate organic compound, nitrophosphate organic compound, biotec organic compound, organic, instant water soluble, microbial, and micronutrient, as well as biopower stimulants and acidic soil conditioner; and chemical products, such as urea for industrial applications, melamine, sulfamic acid, anhydrous ammonia, nitric and sulfuric acid, and oleum. It also provides electronic and precision chemicals comprising hydrochloric, nitric, sulfuric, phosphoric, and acetic acid; ammonium water; sodium and potassium hydroxide; hydrogen peroxide; photoresist stripper; dimethyl sulfoxide; monoethanolamine; isopropyl alcohol; acetone; n-methyl-2-pyrrolidone; cyclopentanone; edge bead remover; propylene glycol methyl ether acetate; and propylene glycol methyl ether. In addition, the company is involved in investment; international trade; real estate construction, rental, and leasing; wholesale of drinks, food, groceries, and fertilizers. Taiwan Fertilizer Co., Ltd. was incorporated in 1946 and is headquartered in Taipei, Taiwan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Taiwan Fertilizer Co reported revenue of 12.1B TWD in FY2025 versus 13.7B TWD in FY2021, a compound −3.0%/yr. Reported net income was 932M TWD in FY2025, compounding −25.6%/yr from FY2021.

Growth Quality 65/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
12.1B TWD
Latest YoY
+1.8%
Avg. growth/yr (3Y)
−7.1%
Avg. growth/yr (5Y)
+3.5%
Avg. growth/yr (25Y)
+1.6%
Revenue −3.0%/yr
FY21 13.7B TWD
FY22 15.1B TWD
FY23 15.0B TWD
FY24 11.9B TWD
FY25 12.1B TWD
Net income −25.6%/yr
FY21 3.0B TWD
FY22 2.7B TWD
FY23 3.9B TWD
FY24 2.0B TWD
FY25 932M TWD

1722 screens 44% overvalued. Compare with Corteva, Inc →

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Cite: Fair Value Calculator (2026). "Taiwan Fertilizer Co Fair Value". https://www.fairvalue-calculator.com/stock/1722

Peer Group

Agricultural Inputs · 179 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 59 · Above median
Fair Value upside −44% · Bottom 25%
Return on equity (TTM) 2% · Below median
Return on assets 0% · Bottom 25%
Net margin (TTM) 8% · Above median
Operating margin (TTM) -1% · Bottom 25%
Revenue growth 13% · Above median
Dividend yield (TTM) 4.3% · Top 25%
Debt / equity 0.01× · Lower than 75% of peers

Valuation Multiples vs Agricultural Inputs median · lower = cheaper

P/E (TTM) 48.9× · Pricier than 75% of peers
P/B 0.84× · Cheaper than median
P/S (TTM) 3.64× · Pricier than 75% of peers
P/FCF 0.7× · Cheaper than median
EV/EBITDA 25.9× · Pricier than 75% of peers
PEG 4.42× · Pricier 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 22
FUTURE 63 · sector 37
PAST 7 · sector 24
HEALTH 100 · sector 97
DIVIDEND 85 · sector 33

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

Stock Price Fair Value vs Fair Value
Corteva, Inc CTVA $86.07 $27.81 -68%
Nutrien Ltd NTR C$94.23 C$81.69 -13%
Qinghai Salt Lake Industry Co 000792 ¥24.93 ¥21.26 -15%
CF Industries Holdings CF $119.19 $161.00 +35%
SABIC Agri-Nutrients Company 2020 122.90 SAR 127.31 SAR +4%
Yara International ASA YAR kr 451.30 kr 67.25 -85%
Yunnan Yuntianhua Co 600096 ¥30.17 ¥42.12 +40%
Asia-potash International Investment (Guangzhou)Co.,Ltd., 000893 ¥42.59 ¥38.01 -11%
Coromandel International Limited COROMANDEL ₹2,034 ₹1,129 -44%
UPL Limited UPL ₹594.75 ₹387.06 -35%

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Frequently asked questions

Is Taiwan Fertilizer Co (1722) overvalued or undervalued?
As of Jul 23, 2026, our model estimates a fair value of 25.70 TWD versus a price of 45.50 TWD, about −44% (overvalued).
What is the fair value of 1722?
Our model-based fair value for Taiwan Fertilizer Co is 25.70 TWD (as of Jul 23, 2026), built from audited fundamentals. The current price is 45.50 TWD.
What is the quality score of 1722?
Taiwan Fertilizer Co has a Quality Score of 59/100. 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 Taiwan Fertilizer Co (1722)?
Taiwan Fertilizer Co reported trailing-twelve-month revenue of about 12.5B TWD (latest available figure, as of Jul 23, 2026).
What is the net profit margin of 1722?
The net profit margin of Taiwan Fertilizer Co is about 8.1%, meaning it keeps roughly 8.1% of revenue as net income. Based on the latest reported figures.
Does Taiwan Fertilizer Co pay a dividend?
Taiwan Fertilizer Co currently shows a dividend yield of about 4.20% 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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