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Tung Ho Steel Enterprise Corporation (2006) Fair Value & Analysis

Basic Materials · TW · Market cap 51.9B TWD

TH Tung Ho Steel Enterprise Corporation 2006 · TW
Price88.50 TWD
Fair Value77.52 TWD
Upside-12.4%
Quality70/100
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Mixed Growth
Thin margins · 8.5% net margin
Low debt · generates free cash flow
6.01% dividend yield
Ranks above peers (11/15)
Moderate moat 46/100
Evidence: High Range 58.14 TWD – 96.90 TWD Share as image

Fair value as of: Jul 23, 2026

From 23 valuation models · updated 18 days ago

Fair value updated Jul 23, 2026, revised from 109.91 TWD to 77.52 TWD (−29.5%) since Jul 7, 2026. Share price +28.6% over the past month.

A solid business, but screening 12% overvalued on our models.

What matters now

  • Our model range runs from 58.14 TWD (bear) to 96.90 TWD (bull), base 77.52 TWD. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 70/100 (solid quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

88.50 TWD 26.84 TWD Fair Value 77.52 TWD Feb 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 26.84 TWD – 88.50 TWD · fair‑value band 58.14 TWD – 96.90 TWD · the 88.50 TWD price screens above the 77.52 TWD fair value. Dashed = 300-day average. As of Jul 23, 2026.

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Analysis

Tung Ho Steel Enterprise Corporation (2006) currently trades at 88.50 TWD, while our model-based Fair Value estimate is 77.52 TWD, implying the stock looks roughly 12.4% overvalued today. The Quality Score stands at 70/100 (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, Tung Ho Steel Enterprise Corporation generated revenue of 57.0B TWD at a net margin of 8.5%. Revenue declined 6.2% year over year. It earns a return on equity of 15.3%. Net debt stands at 6.5B TWD. Fundamentals as of Jul 23, 2026

Our scenario range runs from 58.14 TWD (bear case) to 96.90 TWD (bull case); at 88.50 TWD, the current price sits within 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 near its 52-week high and 51% above its 52-week low, currently above its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -7% fair-value upside, at -12%, 2006 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 116.41 TWD 163.57 TWD 228.11 TWD 80
Residual Income 45.57 TWD 57.27 TWD 136.29 TWD 76
Rev-Margin DCF 84.53 TWD 123.81 TWD 166.46 TWD 74
All 23 models by family
DCF Models
FCF DCF 113.16 TWD 164.01 TWD 236.76 TWD 38
Owner Earnings 75.30 TWD 109.16 TWD 157.60 TWD 31
5Y Revenue Exit 84.53 TWD 122.27 TWD 168.16 TWD 39
5Y EBITDA Exit 83.83 TWD 121.01 TWD 161.95 TWD 41
5Y P/E Exit 86.97 TWD 126.61 TWD 165.79 TWD 38
10Y Revenue Exit 92.11 TWD 127.87 TWD 171.26 TWD 36
10Y EBITDA Exit 93.76 TWD 127.02 TWD 166.73 TWD 37
10Y P/E Exit 95.73 TWD 130.81 TWD 169.53 TWD 35
Earnings-Based
Graham-Dodd 43.96 TWD 104.68 TWD 134.96 TWD 54
PEG = 1.0 18.24 TWD 26.05 TWD 33.87 TWD 46
EPV 61.02 TWD 71.21 TWD 80.13 TWD 59
Multiples
P/E Multiple 82.43 TWD 109.91 TWD 137.38 TWD 63
P/S Multiple 82.43 TWD 109.91 TWD 137.38 TWD 58
P/B Multiple 82.43 TWD 109.91 TWD 137.38 TWD 55
EV/EBIT 83.96 TWD 111.99 TWD 140.01 TWD 53
EV/EBITDA 76.69 TWD 102.30 TWD 127.90 TWD 54
EV/Revenue 72.75 TWD 103.98 TWD 135.21 TWD 43
Asset-Based
NCAV (Graham) 23.52 TWD 31.51 TWD 47.04 TWD 50
Growth DCF
Growth DCF 116.41 TWD 163.57 TWD 228.11 TWD 80
Rev-Margin DCF 84.53 TWD 123.81 TWD 166.46 TWD 74
Economic Profit
Residual Income 45.57 TWD 57.27 TWD 136.29 TWD 76
ROIC Compounder 62.92 TWD 77.65 TWD 94.38 TWD 72
Growth Earnings
Growth-Adj P/E 63.67 TWD 90.95 TWD 118.24 TWD 68

Widest divergence: DCF Models (126.61 TWD) versus Asset-Based (31.51 TWD). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 57.0B TWD
Revenue growth (YoY) -6.2%
Net margin 8.5%
Return on equity 15.3%
Free cash flow 7.7B TWD FY2025
P/E ratio 11.0
More key figures
Operating margin 10.2%
EPS (TTM) 6.44 TWD
Dividend yield 6.4%
EPS growth (YoY) +11.4%
Net debt 6.5B TWD FY2025

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

Quality Score breakdown

Overall quality 70/100

Of which business quality 70 · Market factors (momentum, volatility) 79

Profitability 54
Margins and returns on capital today
Quality Growth 46
Are margins and returns improving?
Cashflow 75
Earnings quality: real cash, not paper profit
Fin. Strength 79
Balance sheet, leverage, solvency risk
Investment 90
Disciplined investing over empire-building
Low Volatility 87
Calm price path (market factor)
Momentum 69
Price trend over the last 3–12 months (market factor)
52W Momentum 87
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

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.

Full company description

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.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Tung Ho Steel Enterprise Corporation 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.

Growth Quality 71/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
57.9B TWD
Latest YoY
−3.8%
Avg. growth/yr (3Y)
−1.2%
Avg. growth/yr (5Y)
+6.2%
Avg. growth/yr (25Y)
+5.3%
Revenue −0.4%/yr
FY21 58.8B TWD
FY22 60.0B TWD
FY23 61.0B TWD
FY24 60.2B TWD
FY25 57.9B TWD
Net income −5.4%/yr
FY21 5.9B TWD
FY22 4.0B TWD
FY23 4.7B TWD
FY24 4.5B TWD
FY25 4.7B TWD

2006 screens 12% overvalued. Compare with Tata Steel Limited →

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Cite: Fair Value Calculator (2026). "Tung Ho Steel Enterprise Corporation Fair Value". https://www.fairvalue-calculator.com/stock/2006

Peer Group

Steel · 378 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 −12% · Below median
Return on equity (TTM) 15% · Top 25%
Return on assets 7% · Top 25%
Net margin (TTM) 9% · Top 25%
Operating margin (TTM) 10% · Top 25%
Revenue growth -6% · Below median
Dividend yield (TTM) 6.0% · Top 25%
Debt / equity 0.04× · Lower than median

Valuation Multiples vs Steel median · lower = cheaper

P/E (TTM) 11.0× · Cheaper than 75% of peers
P/B 1.51× · Pricier than median
P/S (TTM) 0.91× · Pricier than median
P/FCF 0.2× · Cheaper than median
EV/EBITDA 6.9× · Cheaper than median
PEG 0.57× · Cheaper than median

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 17 · sector 20
FUTURE 0 · sector 4
PAST 61 · sector 15
HEALTH 98 · sector 95
DIVIDEND 100 · sector 41

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

Stock Price Fair Value vs Fair Value
Tata Steel Limited TTST $0.2010 $0.2000 -0%
JSW Steel Limited JSWSTEEL ₹1,227 ₹1,140 -7%
Baoshan Iron & Steel Co 600019 ¥5.89 ¥8.07 +37%
China Steel Corporation 2002A 38.55 TWD 8.74 TWD -77%
POSCO Holdings 005490 313,500 KRW 155,270 KRW -50%
Companhia Siderúrgica Nacional, SID 13,670 ARS 15,940 ARS +17%
Jindal Steel Limited JINDALSTEL ₹1,028 ₹545.12 -47%
Lloyds Metals and Energy Limited LLOYDSME ₹1,844 ₹1,098 -40%
Gerdau S.A GGBN 83.50 MXN 42.64 MXN -49%
Ternium S.A TXR 17,780 ARS 27,210 ARS +53%

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Frequently asked questions

Is Tung Ho Steel Enterprise Corporation (2006) overvalued or undervalued?
As of Jul 23, 2026, our model estimates a fair value of 77.52 TWD versus a price of 88.50 TWD, about −12% (overvalued).
What is the fair value of 2006?
Our model-based fair value for Tung Ho Steel Enterprise Corporation is 77.52 TWD (as of Jul 23, 2026), built from audited fundamentals. The current price is 88.50 TWD.
What is the quality score of 2006?
Tung Ho Steel Enterprise Corporation 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 Tung Ho Steel Enterprise Corporation (2006)?
Tung Ho Steel Enterprise Corporation reported trailing-twelve-month revenue of about 57.0B TWD (latest available figure, as of Jul 23, 2026).
What is the net profit margin of 2006?
The net profit margin of Tung Ho Steel Enterprise Corporation is about 8.5%, meaning it keeps roughly 8.5% of revenue as net income. Based on the latest reported figures.
Does Tung Ho Steel Enterprise Corporation pay a dividend?
Tung Ho Steel Enterprise Corporation currently shows a dividend yield of about 6.41% 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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