Headway Advanced Materials Inc (1776) Fair Value & Analysis
Basic Materials · TW · Market cap 1.1B TWD
Fair value as of: Jul 21, 2026
From 24 valuation models · updated 20 days ago
Fair value updated Jul 21, 2026, revised from 7.25 TWD to 12.20 TWD (+68.3%) since Jul 7, 2026. Share price −13.0% over the past month.
A solid business, but screening 28% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (12.44 TWD). The favourable scenario is already priced in.
- Solid but not exceptional quality (67/100) and above fair value, neither a clear bargain nor a standout compounder.
Price vs Fair Value (5 years)
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 13.45 TWD – 24.46 TWD · fair‑value band 8.05 TWD – 12.44 TWD · the 17.00 TWD price screens above the 12.20 TWD fair value. Dashed = 300-day average. As of Jul 21, 2026.
Analysis
Headway Advanced Materials Inc (1776) currently trades at 17.00 TWD, while our model-based Fair Value estimate is 12.20 TWD, implying the stock looks roughly 28.2% overvalued today. The Quality Score stands at 67/100 (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: medium).
Over the trailing twelve months, Headway Advanced Materials Inc generated revenue of 1.0B TWD at a net margin of 2.8%. Revenue declined 6.9% year over year. It earns a return on equity of 3.1%. The balance sheet holds a net cash position of 83.7M TWD. Fundamentals as of Jul 21, 2026
Our scenario range runs from 8.05 TWD (bear case) to 12.44 TWD (bull case); at 17.00 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 14% below its 52-week high and 21% above its 52-week low, currently above its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -46% fair-value upside, at -28%, 1776 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.
All 24 models by family
Widest divergence: DCF Models (22.19 TWD) versus Earnings-Based (2.29 TWD). Highest evidence: Growth DCF (80).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 21, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 67 · Market factors (momentum, volatility) 63
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
Headway Advanced Materials Inc. manufactures and sells polyurethane resin and thermoplastic polyurethane pellet products in the Asia-Pacific region.
Full company description
Headway Advanced Materials Inc. manufactures and sells polyurethane resin and thermoplastic polyurethane pellet products in the Asia-Pacific region. The company provides products, such as solvent and water borne polyurethane, PU solventless, polyisocynate, polyol, and thermoplastic polyurethane, as well as polyaspartate resin, and hardener for polyaspartate resin. Its products are used in various applications, such as textile, leather, furniture, footwear, building materials, electronics, and other industries. The company was founded in 1976 and is based in Hsinchu City, Taiwan.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Headway Advanced Materials Inc reported revenue of 1.0B TWD in FY2025 versus 1.5B TWD in FY2021, a compound −8.5%/yr. Reported net income was 16.5M TWD in FY2025, compounding −23.0%/yr from FY2021.
of which total revenue −7.0 pp · buybacks/dilution +1.0 pp
Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).
1776 screens 28% overvalued. Compare with BASF SE →
Peer Group
Chemicals · 333 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.
Valuation Multiples vs Chemicals median · lower = cheaper
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: 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.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Chemicals stocks, each showing price versus our Fair Value estimate (as of Jul 21, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| BASF SE BASN | 1,034 MXN | 532.13 MXN | -49% |
| Ningxia Baofeng Energy Group 600989 | ¥20.32 | ¥20.17 | -1% |
| Zhejiang Juhua Co 600160 | ¥42.85 | ¥23.35 | -46% |
| PT Barito Pacific Tbk, BRPT | 1,690 IDR | 1,628 IDR | -4% |
| LG Chem, Ltd 051910 | 260,500 KRW | 587,755 KRW | +126% |
| Formosa Chemicals & Fibre Corporation 1326 | 66.10 TWD | 6.79 TWD | -90% |
| PTT Global Chemical Public Company PTTGC | 35.50 THB | 18.21 THB | -49% |
| 542812 542812 | ₹4,369 | ₹791.05 | -82% |
| Indorama Ventures Public Company IVL | 24.50 THB | 17.95 THB | -27% |
| Navin Fluorine International Limited NAVINFLUOR | ₹8,650 | ₹2,146 | -75% |
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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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