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Sanitar Co (1817) Fair Value & Analysis

Consumer Defensive · TW · Market cap 2.8B TWD

SC Sanitar Co 1817 · TW
Price38.40 TWD
Fair Value76.21 TWD
Upside+98.5%
Quality70/100
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Mixed Growth
Solidly profitable · 11.7% net margin
Low debt · generates free cash flow
5.70% dividend yield
Ranks above peers (13/14)
Moderate moat 59/100
Evidence: High Range 57.16 TWD – 95.27 TWD Share as image

Fair value as of: Jul 21, 2026

From 24 valuation models · updated 20 days ago

Share price −0.9% over the past month.

A solid business, screening 98% undervalued on our models.

What matters now

  • The rarer combination: high quality (70/100) AND below fair value. That earns a closer look rather than a quick verdict.
  • The price is below even our cautious bear case (57.16 TWD). The market is more pessimistic than our downside scenario.
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Price vs Fair Value (5 years)

50.00 TWD 28.31 TWD Fair Value 76.21 TWD Mar 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 28.31 TWD – 50.00 TWD · fair‑value band 57.16 TWD – 95.27 TWD · the 38.40 TWD price screens below the 76.21 TWD fair value. Dashed = 300-day average. As of Jul 21, 2026.

Full chart & analysis →

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Analysis

Sanitar Co (1817) currently trades at 38.40 TWD, while our model-based Fair Value estimate is 76.21 TWD, implying the stock looks roughly 98.5% undervalued today. The Quality Score stands at 70/100 (solid quality), in the Consumer Defensive 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: high), always confirm before acting.

Over the trailing twelve months, Sanitar Co generated revenue of 2.6B TWD at a net margin of 11.7%. Revenue declined 0.9% year over year. It earns a return on equity of 12.9%. The balance sheet holds a net cash position of 208M TWD. Fundamentals as of Jul 21, 2026

Our scenario range runs from 57.16 TWD (bear case) to 95.27 TWD (bull case); at 38.40 TWD, the current price sits below 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 10% below its 52-week high and 3% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Defensive peers we cover trades at -26% fair-value upside, at 98%, 1817 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 64.55 TWD 84.87 TWD 111.96 TWD 80
Residual Income 28.17 TWD 32.11 TWD 50.56 TWD 76
Rev-Margin DCF 53.05 TWD 74.73 TWD 98.09 TWD 74
All 24 models by family
DCF Models
FCF DCF 62.81 TWD 84.33 TWD 114.33 TWD 38
Owner Earnings 48.40 TWD 64.54 TWD 87.02 TWD 31
5Y Revenue Exit 53.05 TWD 73.79 TWD 99.41 TWD 39
5Y EBITDA Exit 60.11 TWD 86.08 TWD 115.20 TWD 41
5Y P/E Exit 57.91 TWD 82.24 TWD 106.56 TWD 38
10Y Revenue Exit 55.17 TWD 73.86 TWD 95.80 TWD 36
10Y EBITDA Exit 60.66 TWD 81.90 TWD 106.74 TWD 37
10Y P/E Exit 59.32 TWD 79.39 TWD 100.76 TWD 35
Earnings-Based
Graham-Dodd 24.68 TWD 50.25 TWD 63.31 TWD 54
EPV 38.66 TWD 43.95 TWD 48.51 TWD 59
Dividend Discount
Gordon GGM 21.08 TWD 30.21 TWD 39.37 TWD 70
DDM Multi-Stage 21.08 TWD 29.34 TWD 38.51 TWD 61
Multiples
P/E Multiple 57.16 TWD 76.21 TWD 95.27 TWD 63
P/S Multiple 46.27 TWD 61.70 TWD 77.12 TWD 58
P/B Multiple 46.27 TWD 61.70 TWD 77.12 TWD 55
EV/EBIT 68.09 TWD 89.06 TWD 110.03 TWD 53
EV/EBITDA 66.45 TWD 86.87 TWD 107.29 TWD 54
EV/Revenue 50.08 TWD 69.33 TWD 88.57 TWD 43
Asset-Based
NCAV (Graham) 15.47 TWD 20.73 TWD 30.95 TWD 50
Growth DCF
Growth DCF 64.55 TWD 84.87 TWD 111.96 TWD 80
Rev-Margin DCF 53.05 TWD 74.73 TWD 98.09 TWD 74
Economic Profit
Residual Income 28.17 TWD 32.11 TWD 50.56 TWD 76
ROIC Compounder 39.35 TWD 46.22 TWD 53.44 TWD 72
Growth Earnings
Growth-Adj P/E 41.61 TWD 59.45 TWD 77.28 TWD 68

Widest divergence: DCF Models (79.39 TWD) versus Asset-Based (20.73 TWD). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 2.6B TWD
Revenue growth (YoY) -0.9%
Net margin 11.7%
Return on equity 12.9%
Free cash flow 423M TWD FY2025
P/E ratio 10.7
More key figures
Operating margin 19.2%
EPS (TTM) 3.59 TWD
Dividend yield 5.7%
EPS growth (YoY) +93.5%
Net cash 208M TWD FY2025

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

Quality Score breakdown

Overall quality 70/100

Of which business quality 69 · Market factors (momentum, volatility) 54

Profitability 55
Margins and returns on capital today
Quality Growth 24
Are margins and returns improving?
Cashflow 78
Earnings quality: real cash, not paper profit
Fin. Strength 88
Balance sheet, leverage, solvency risk
Investment 89
Disciplined investing over empire-building
Low Volatility 100
Calm price path (market factor)
Momentum 40
Price trend over the last 3–12 months (market factor)
52W Momentum 25
Distance to the 52-week high (market factor)
Net Issuance 79
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

Sanitar Co., Ltd. engages in the manufacture and distribution of sanitary ware products in Taiwan and internationally. It offers bathroom fixtures, including bathtubs, washbasin vanity sets, washbasins, functional electrical appliances, mirror cabinets, toilets, machines, lavatories, cabinets, mirrors, hand showers, and copper faucets.

Full company description

Sanitar Co., Ltd. engages in the manufacture and distribution of sanitary ware products in Taiwan and internationally. It offers bathroom fixtures, including bathtubs, washbasin vanity sets, washbasins, functional electrical appliances, mirror cabinets, toilets, machines, lavatories, cabinets, mirrors, hand showers, and copper faucets. It provides its products for bathroom, public commercial, and kitchen spaces. The company was formerly known as Sanken Industrial Co., Ltd. and changed its name to Sanitar Co., Ltd. in 2003. Sanitar Co., Ltd. was founded in 1985 and is based in New Taipei City, Taiwan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Sanitar Co reported revenue of 2.6B TWD in FY2025 versus 2.4B TWD in FY2021, a compound +2.5%/yr. Reported net income was 263M TWD in FY2025, compounding +4.4%/yr from FY2021.

Growth Quality 67/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
2.6B TWD
Latest YoY
−6.2%
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.
−0.6%
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.
+2.6%
Avg. growth/yr (16Y) 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.
+5.1%
Revenue +2.5%/yr
FY21 2.4B TWD
FY22 2.7B TWD
FY23 2.5B TWD
FY24 2.8B TWD
FY25 2.6B TWD
Net income +4.4%/yr
FY21 221M TWD
FY22 291M TWD
FY23 236M TWD
FY24 315M TWD
FY25 263M TWD
Character of growth · EPS growth decomposed (2014-2025) +2.4 % p.a.
Revenue per share +2.4 pp

of which total revenue +2.4 pp · buybacks/dilution +0.0 pp

EBIT margin −0.8 pp
Tax rate +0.5 pp
Residual (interest, one-offs) +0.3 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).

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Cite: Fair Value Calculator (2026). "Sanitar Co Fair Value". https://www.fairvalue-calculator.com/stock/1817

Peer Group

Household & Personal Products · 244 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 70 · Top 25%
Fair Value upside +99% · Top 25%
Return on equity (TTM) 13% · Above median
Return on assets 9% · Top 25%
Net margin (TTM) 12% · Top 25%
Operating margin (TTM) 19% · Top 25%
Revenue growth -1% · Below median
Dividend yield (TTM) 5.7% · Top 25%

Valuation Multiples vs Household & Personal Products median · lower = cheaper

P/E (TTM) 10.7× · Cheaper than 75% of peers
P/B 1.25× · Cheaper than median
P/S (TTM) 1.07× · Cheaper than median
P/FCF 0.2× · Cheaper than 75% of peers
EV/EBITDA 5.0× · 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 100 · sector 28
FUTURE 0 · sector 4
PAST 52 · sector 26
HEALTH 100 · sector 98
DIVIDEND 100 · sector 50

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 Household & Personal Products stocks, each showing price versus our Fair Value estimate (as of Jul 21, 2026).

Stock Price Fair Value vs Fair Value
The Procter & Gamble Company PG $146.80 $108.16 -26%
Unilever PLC ULN 1,080 MXN 1,273 MXN +18%
Hindustan Unilever Limited HINDUNILVR ₹2,144 ₹1,000 -53%
Essity AB ESSITYA kr 279.00 kr 250.02 -10%
Godrej Consumer Products Limited GODREJCP ₹1,088 ₹367.64 -66%
Marico Limited MARICO ₹846.75 ₹233.05 -72%
APR Co 278470 375,000 KRW 151,222 KRW -60%
Dabur India Limited DABUR ₹429.45 ₹181.60 -58%
Kimberly-Clark de México, S. A. B. de C. V., KIMBERA 38.07 MXN 50.09 MXN +32%
PT Unilever Indonesia Tbk UNVR 1,730 IDR 1,934 IDR +12%

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Frequently asked questions

Is Sanitar Co (1817) overvalued or undervalued?
As of Jul 21, 2026, our model estimates a fair value of 76.21 TWD versus a price of 38.40 TWD, about +98% (undervalued).
What is the fair value of 1817?
Our model-based fair value for Sanitar Co is 76.21 TWD (as of Jul 21, 2026), built from audited fundamentals. The current price is 38.40 TWD.
What is the quality score of 1817?
Sanitar Co has a Quality Score of 70/100. 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 Sanitar Co (1817)?
Sanitar Co reported trailing-twelve-month revenue of about 2.6B TWD (latest available figure, as of Jul 21, 2026).
What is the net profit margin of 1817?
The net profit margin of Sanitar Co is about 11.7%, meaning it keeps roughly 11.7% of revenue as net income. Based on the latest reported figures.
Does Sanitar Co pay a dividend?
Sanitar Co currently shows a dividend yield of about 5.70% relative to its recent price (as of Jul 21, 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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