Tung Ho Steel Enterprise Corp (2006) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Tung Ho Steel Enterprise Corp TWD 109, price TWD 87.80, upside +24.6%, quality 70 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Tung Ho Steel Enterprise Corporation, together with its subsidiaries, produces and sells steel products in Taiwan.
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Tung Ho Steel Enterprise Corporation, together with its subsidiaries, produces and sells steel products in Taiwan. It offers re-bars, such as round bar, screwed re-bar, Compact rebar, Tensile, and deformed steel re-bar products for building projects; and formed steel products, including H-beams, I-beams, channel beams, and U-beams; plate-type steel products. The company also provides processing services, such as rebar cutting, bending, processing, forming, friction welding, welded steel mesh, and built-up H-beam. The company was founded in 1946 and is headquartered in Taipei, Taiwan.
Stock analysis
Tung Ho Steel Enterprise Corp (2006) currently trades at 87.80 TWD, while our model-based Fair Value estimate is 109.41 TWD, implying the stock looks roughly 19.7% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 127.71 TWD per share, and 18 of the 23 models we run sit above the 87.80 TWD price.
Bear case: the Asset-Based group reads lowest at 31.51 TWD, and 5 of the 23 models stay below the price. Evidence for this calculation is high.
Scenario range: 82.05 TWD (bear) to 149.45 TWD (bull), the price of 87.80 TWD sits inside 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 70/100 (solid quality), in the Basic Materials sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Tung Ho Steel Enterprise Corp reported revenue of 57.9B TWD in FY2025 versus 58.8B TWD in FY2021, a compound −0.4%/yr. Reported net income was 4.7B TWD in FY2025, compounding −5.4%/yr from FY2021.
Key figures
Market cap 64.6B TWD (≈ $2.0B) · P/E ratio 11.0 · P/S ratio 0.90 · EPS (TTM) 6.44 TWD · Dividend yield 4.9% · Net margin 8.2% · Return on equity 15.3% · Return on assets (EBIT) 11.2%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 38 out of 100 (medium confidence).
What moves the price
The share trades about 1% below its 52-week high and 48% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at −45% fair-value upside, at 25%, 2006 screens cheaper than that median.
Fair Value models
Bear 82.05 TWDFair Value 109.41 TWDBull 149.45 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 (1.57 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.71/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−3.8%
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.
−1.2%
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.
+6.2%
Start year 2020 (pandemic). Over 10 years: +6.4% a year
Revenue growth 25 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.
+5.3%
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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. 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.
+10.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year+5.7%
Dividend (yield on the price)4.9%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.6% vs 14%, slowing
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.11% → 10%
Start year 2020 (pandemic)
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).
−7.2%
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 −8.7% a year for the price.
Compare Tung Ho Steel Enterprise Corp with another stock
Price, fair value, quality and upside side by side.
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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.Steel · 412 stocks
Beats the industry median on 12/15 measures
Overall it ranks above its industry peers.
Valuation
Quality Score70 · Top 25%
Fair Value upside+25% · Above median
Profitability
Return on equity (TTM)15% · Top 25%
Return on assets7% · Top 25%
Net margin (TTM)9% · Top 25%
Operating margin (TTM)10% · Top 25%
Growth and dividend
Revenue growth−6% · Below median
Dividend yield (TTM)4.9% · Top 25%
Balance sheet
Debt / equity0.04× · Below median
Valuation Multiplesvs Steel median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Tung Ho Steel Enterprise Corp Fair Value". https://www.fairvalue-calculator.com/stock/2006
Frequently asked questions
Is Tung Ho Steel Enterprise Corp (2006) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 109.41 TWD versus a price of 87.80 TWD, about +25% upside (undervalued).
What is the fair value of 2006?
Our model-based fair value for Tung Ho Steel Enterprise Corp is 109.41 TWD (as of Sep 24, 2026), built from audited fundamentals. The current price: 87.80 TWD.
What is the quality score of 2006?
Tung Ho Steel Enterprise Corp 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 price target for Tung Ho Steel Enterprise Corp (2006)?
Our model-based price target is the fair value of 109.41 TWD (as of Sep 24, 2026) from 23 valuation models. Cautious scenario 82.05 TWD, optimistic scenario 149.45 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Tung Ho Steel Enterprise Corp stock forecast for 2026?
Our models put fair value at 109.41 TWD, about +25% upside versus a price of 87.80 TWD (undervalued). Cautious scenario 82.05 TWD, optimistic scenario 149.45 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Tung Ho Steel Enterprise Corp (2006)?
Tung Ho Steel Enterprise Corp reported trailing-twelve-month revenue of about 57.0B TWD (latest available figure, as of Sep 24, 2026).
Does Tung Ho Steel Enterprise Corp pay a dividend?
Tung Ho Steel Enterprise Corp currently shows a dividend yield of about 4.90% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Tung Ho Steel Enterprise Corp (2006)?
For today's price to be fair in a discounted-cash-flow model, Tung Ho Steel Enterprise Corp would have to grow free cash flow by -7.2 % per year for five years (discount rate 8.6 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +6.2 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 2006 use?
Our models discount Tung Ho Steel Enterprise Corp at 8.6 %: a base by market capitalisation (large), damped by beta 0.38, 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 Tung Ho Steel Enterprise Corp that is -7.2 % per year a year over ten years, using the same discount rate (8.6 %) and the same formula as our fair value.
How much growth has Tung Ho Steel Enterprise Corp (2006) delivered so far?
Over the past 5 years revenue at Tung Ho Steel Enterprise Corp grew +6.2 % a year. The price currently implies -7.2 % 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 Tung Ho Steel Enterprise Corp (2006) growing?
The median revenue growth in the sector is +3.3 % a year. That is the yardstick for the growth priced into Tung Ho Steel Enterprise Corp (-7.2 % 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 Tung Ho Steel Enterprise Corp (2006)?
The free-cash-flow yield on the price is 11.99 %: that much free cash flow Tung Ho Steel Enterprise Corp produces per unit of market value. When it exceeds the discount rate of our models (8.6 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Tung Ho Steel Enterprise Corp (2006)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Tung Ho Steel Enterprise Corp it is 109.41 TWD per share (as of Sep 24, 2026), against a price of 87.80 TWD. It is the blended result of 23 valuation models (cash flow, earnings, asset, dividend).
Is Tung Ho Steel Enterprise Corp stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 2006 trades below its calculated fair value: price 87.80 TWD, fair value 109.41 TWD, a gap of about +25% (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 2006?
No. The price is what the market pays today (87.80 TWD); the fair value is what the company's own numbers justify (109.41 TWD). For Tung Ho Steel Enterprise Corp the two are 21.61 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Tung Ho Steel Enterprise Corp worth?
The market values Tung Ho Steel Enterprise Corp at about 64.6B TWD (market capitalisation, as of Sep 24, 2026). Per share that is 87.80 TWD; our models calculate a fair value of 109.41 TWD per share.
What do the bullish and bearish scenarios say about 2006?
Our models span a range for Tung Ho Steel Enterprise Corp: cautious scenario 82.05 TWD, base 109.41 TWD, optimistic 149.45 TWD per share (as of Sep 24, 2026, price 87.80 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 2006?
Tung Ho Steel Enterprise Corp trades at a price-to-earnings ratio of 11.0 (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 109.41 TWD is built from several models across several years. Other multiples: PEG 0.6, P/B 1.9, P/S 1.1, EV/EBITDA 8.6.
What is the PEG ratio of 2006?
The PEG ratio of Tung Ho Steel Enterprise Corp is 0.57 (P/E divided by earnings growth, as of Sep 24, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Tung Ho Steel Enterprise Corp (2006)?
Balance-sheet figures for Tung Ho Steel Enterprise Corp (as of Sep 24, 2026): return on equity 15.3%, debt of 0.04 per unit of equity. They feed the Quality Score of 70/100, which measures business quality independently of the share price.
How far is 2006 from its 52-week high?
Tung Ho Steel Enterprise Corp trades at 87.80 TWD, about 1% below its 52-week high of 88.50 TWD and 48% above the low of 59.50 TWD (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 109.41 TWD is for.
Which stocks are comparable to Tung Ho Steel Enterprise Corp?
From the same area (Basic Materials) we also value Nucor Corporation, Steel Dynamics, Inc, JSW Steel Limited, Tata Steel Limited, 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 Tung Ho Steel Enterprise Corp stock attractive at the current price?
The data as of Sep 24, 2026: price 87.80 TWD, calculated fair value 109.41 TWD (+25%), Quality Score 70/100, 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 2006 calculated?
We run Tung Ho Steel Enterprise Corp 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 109.41 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 14.1 % above its aggregate fair value. Tung Ho Steel Enterprise Corp currently trades 25 % 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 Tung Ho Steel Enterprise Corp (2006)?
The closing price on Sep 24, 2026 was 87.80 TWD. Our model-based fair value is 109.41 TWD, about +25% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Tung Ho Steel Enterprise Corp right now?
A fairly wide model range (82.05 TWD to 149.45 TWD) leaves room in how you read the outcome. The price sits in the lower half of our model range, the side with the larger margin of safety. The data supports the verdict: every model runs on fully documented inputs.
Where does the earnings growth of Tung Ho Steel Enterprise Corp (2006) come from?
Earnings per share at Tung Ho Steel Enterprise Corp grew +15.5 % a year from 2014 to 2025. Broken into its drivers: revenue per share +7.7 %, EBIT margin +8.4 %, tax rate −0.7 %, residual (interest, one-offs) −0.4 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Tung Ho Steel Enterprise Corp
How large is the market capitalisation of Tung Ho Steel Enterprise Corp (2006)?
The market capitalisation of Tung Ho Steel Enterprise Corp is 64.6B TWD (≈ $2.0B). 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 Tung Ho Steel Enterprise Corp (2006)?
The price-to-sales ratio of Tung Ho Steel Enterprise Corp is 0.90 (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 Tung Ho Steel Enterprise Corp (2006)?
Earnings per share at Tung Ho Steel Enterprise Corp are 6.44 TWD (price ÷ EPS = P/E 11.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Tung Ho Steel Enterprise Corp (2006)?
The dividend yield of Tung Ho Steel Enterprise Corp is 4.9% (payout 66.8%). 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 Tung Ho Steel Enterprise Corp (2006)?
The net margin of Tung Ho Steel Enterprise Corp is 8.2% (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 Tung Ho Steel Enterprise Corp (2006)?
The return on equity (ROE) of Tung Ho Steel Enterprise Corp is 15.3% (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 Tung Ho Steel Enterprise Corp (2006)?
On an EBIT basis the return on assets of Tung Ho Steel Enterprise Corp is 11.2% (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 Tung Ho Steel Enterprise Corp (2006)?
The operating margin of Tung Ho Steel Enterprise Corp is 10.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Tung Ho Steel Enterprise Corp (2006)?
Revenue at Tung Ho Steel Enterprise Corp is growing −6.2% versus a year earlier (3y avg −1.2%). 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 Tung Ho Steel Enterprise Corp (2006)?
Earnings per share at Tung Ho Steel Enterprise Corp are growing +11.4% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Tung Ho Steel Enterprise Corp (2006) carry?
The net debt of Tung Ho Steel Enterprise Corp is 6.5B TWD (fiscal year 2025, ≈ 0.8 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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