Tung Ho Steel Enterprise Corp (2006) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Tung Ho Steel Enterprise Corp stock TWD 103, price TWD 84.30, upside +22.4%, quality 71 out of 100. Rating: undervalued. Calculated from audited financials with 25 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 7, 2026.
How to read this chart
60‑month range 30.00 TWD – 93.60 TWD · fair‑value band 75.14 TWD – 131.19 TWD · the 84.30 TWD price screens below the 103.16 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 7, 2026.
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Tung Ho Steel Enterprise Corporation, together with its subsidiaries, produces and sells steel products in Taiwan.
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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 84.30 TWD, while our model-based Fair Value estimate is 103.16 TWD, implying the stock looks roughly 18% undervalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of 129.37 TWD per share, and 17 of the 25 models we run sit above the 84.30 TWD price.
Bear case: the Asset-Based group reads lowest at 14.81 TWD, and 8 of the 25 models stay below the price. Data coverage for this calculation is high.
Scenario range: 75.14 TWD (bear) to 131.19 TWD (bull), the price of 84.30 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 71/100 (solid quality), in the Basic Materials sector.
Mixed Growth: Spin-off in 2009: revenue and profit before it include the divested business. Growth is measured afresh from 2009.
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 62.1B TWD (≈ $1.9B) Small · P/E ratio 11.2 · P/S ratio 1.04 · EPS (TTM) 7.50 TWD · Dividend yield 5.1% · Net margin 10.3% · Return on equity 17.9% · Return on assets (EBIT) 11.2% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (medium confidence).
What moves the price
The share trades about 10% below its 52-week high and 42% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at −34% fair-value upside, at 22%, 2006 screens cheaper than that median.
Fair Value models
Bear75.14 TWDFair Value 103.16 TWDBull131.19 TWD
Price 84.30 TWD · Upside +22.4%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (2.74 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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = 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.55/100
Spin-off in 2009: revenue and profit before it include the divested business. Growth is measured afresh from 2009.
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 16 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.
+5.7%
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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.
+10.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year+5.7%
Dividend (yield on the price)5.1%
Per share before 2009divided by the spin-off factor 1.0416
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.5.7% vs 14.0%, 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%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far and less than analysts expect.
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).
−4.1%
The company could shrink this much every year for the next five years and today's price would still be justified.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+2.3%
Yearly sales growth analysts expect, extended to five years.
After inflation (Taiwan: IMF forecast 1.6% a year to 2030, 1.5% from 2016 to 2025) that is about −5.5% a year for the price and +0.7% for the forecasts.
Compare Tung Ho Steel Enterprise Corp with another stock
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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 · 410 stocks
Beats the industry median on 13/15 measures
Overall it ranks above its industry peers.
Valuation
Quality Score71 · Top 25%
Fair Value upside+22.4% · Above median
Profitability
Return on equity (12 months)17.9% · Top 25%
Return on assets9.1% · Top 25%
Net margin (12 months)10.3% · Top 25%
Operating margin (12 months)12.9% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)13.9% · Above median
Dividend yield (12 months)5.1% · Top 25%
Balance sheet
Debt / equity0.04× · Below median
Valuation Multiplesvs Steel median · lower = cheaper
P/E (12 months)11.2× · Cheaper than median
P/B1.81× · Priciest 25%
P/S (12 months)1.04× · Pricier than median
Price / free cash flow (fiscal year)8.0× · Cheaper than median
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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 Nov 7, 2026, our model estimates a fair value of 103.16 TWD versus a price of 84.30 TWD, about +22% upside (undervalued).
What is the fair value of 2006?
Our model-based fair value for Tung Ho Steel Enterprise Corp is 103.16 TWD (as of Nov 7, 2026), built from audited fundamentals. The current price: 84.30 TWD.
What is the quality score of 2006?
Tung Ho Steel Enterprise Corp has a Quality Score of 71/100. 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 103.16 TWD (as of Nov 7, 2026) from 25 valuation models. Cautious scenario 75.14 TWD, optimistic scenario 131.19 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 103.16 TWD, about +22% upside versus a price of 84.30 TWD (undervalued). Cautious scenario 75.14 TWD, optimistic scenario 131.19 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 59.5B TWD (latest available figure, as of Nov 7, 2026).
Does Tung Ho Steel Enterprise Corp pay a dividend?
Tung Ho Steel Enterprise Corp currently shows a dividend yield of 5.10% relative to its recent price (as of Nov 7, 2026).
How much is the dividend of Tung Ho Steel Enterprise Corp (2006) and when is the ex-dividend date?
Tung Ho Steel Enterprise Corp pays a dividend of 4.30 TWD per share a year, a dividend yield of 5.1%. The last ex-dividend date was Mar 20, 2026. The payout ratio is 57.3% of earnings. Free cash flow covers the dividend 2.46 times. Our assessment: Well covered. A low payout and the dividend is fully funded by free cash flow, a comfortable, sustainable dividend.
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 -4.1 % per year for five years (discount rate 10.3 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +6.2 % per year. As of Nov 7, 2026.
What discount rate (WACC) does the fair value of 2006 use?
Our models discount Tung Ho Steel Enterprise Corp at 10.3 %: a base by market capitalisation (small), damped by beta 0.29, 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 -4.1 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (10.3 %) 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 free-cash-flow growth of -4.1 % per 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 +9.8 % a year. That is the yardstick for the growth priced into Tung Ho Steel Enterprise Corp (-4.1 % per 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 12.47 %: 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 (10.3 %), 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 103.16 TWD per share (as of Nov 7, 2026), against a price of 84.30 TWD. It is the blended result of 25 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Tung Ho Steel Enterprise Corp stock overvalued or undervalued in 2026?
As of Nov 7, 2026, 2006 trades below its calculated fair value: price 84.30 TWD, fair value 103.16 TWD, a gap of about +22% (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 (84.30 TWD); the fair value is what the company's own numbers justify (103.16 TWD). For Tung Ho Steel Enterprise Corp the two are 18.86 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 62.1B TWD (market capitalisation, as of Nov 7, 2026). Per share that is 84.30 TWD; our models calculate a fair value of 103.16 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 75.14 TWD, base 103.16 TWD, optimistic 131.19 TWD per share (as of Nov 7, 2026, price 84.30 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 11.2 (as of Nov 7, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 103.16 TWD is built from several models across several years. Median P/E at fiscal year-end, 5 fiscal years (2021 to 2025), reported earnings, FY2025 ex one-offs: 9.9. Other multiples: PEG 0.6, P/B 1.8, P/S 1.0, EV/EBITDA 7.0.
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 Nov 7, 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 Nov 7, 2026): return on equity 17.9%, debt of 0.04 per unit of equity. They feed the Quality Score of 71/100, 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 84.30 TWD, about 10% below its 52-week high of 93.60 TWD and 42% above the low of 59.50 TWD (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 103.16 TWD is for.
Which stocks are comparable to Tung Ho Steel Enterprise Corp?
From the same area (Basic Materials) we also value Nucor Corporation, ArcelorMittal S.A, Steel Dynamics, Inc, JSW 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 Nov 7, 2026: price 84.30 TWD, calculated fair value 103.16 TWD (+22%), Quality Score 71/100, from 25 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 25 models from 8 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of 103.16 TWD builds on their evidence-weighted average, 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 13.0% above its aggregate fair value. Tung Ho Steel Enterprise Corp currently trades 18% 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 Nov 6, 2026 was 84.30 TWD. Our model-based fair value is 103.16 TWD, about +22% 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?
Solid quality (71/100) at a price below fair value, the discount is the argument here, not the business quality. 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 62.1B TWD (≈ $1.9B). 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 1.04 (last twelve months). 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 7.50 TWD (price ÷ EPS = P/E 11.2). 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 5.1% (payout 57.3%). 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 10.3% (last twelve months). 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 17.9% (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 12.9% (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 +13.9% 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 +55.2% 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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Broad data
Nov 7, 2026