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Chun Yuan Steel Industry Co Ltd (2010) Fair Value & Analysis

Basic Materials · TW · Market cap 13.7B TWD (≈ $434M) · ISIN TW0002010006

What is Chun Yuan Steel Industry Co Ltd really worth?

CY Chun Yuan Steel Industry Co Ltd 2010 · TW
Price22.55 TWD
Fair Value27.76 TWD
Upside+23.1%
Quality58/100

A solid business, trading 19% below our fair value of 27.76 TWD.

As of Aug 22, 2026, the fair value of Chun Yuan Steel Industry Co Ltd is 27.76 TWD per share against a price of 22.55 TWD, so the fair value sits 23% above the price. A model estimate blended from multiple valuation models, recalculated regularly.

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Strengths

Healthy Growth (revenue 5y +4.7 %/yr)
Low debt · generates free cash flow
Ranks above peers (13/14)

Risks

!Thin margins · 6.0% net margin
!Narrow moat 40/100
!Evidence only low, so the estimate is less certain

For context

·8.87% dividend yield
Evidence: Low Range 20.31 TWD – 39.20 TWD

Fair value as of: Aug 22, 2026

From 22 valuation models · updated 15 days ago

Share price +6.9% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • Solid quality (58/100) at a price below fair value, the discount is the argument here, not the business quality.
  • A fairly wide model range (20.31 TWD to 39.20 TWD) leaves room in how you read the outcome.
  • Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.

Price vs Fair Value (5 years)

30.72 TWD 13.59 TWD Fair Value 27.76 TWD Apr 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 22, 2026.

How to read this chart

60‑month range 13.59 TWD – 30.72 TWD · fair‑value band 20.31 TWD – 39.20 TWD · the 22.55 TWD price screens below the 27.76 TWD fair value. Dashed = 300-day average. As of Aug 22, 2026.

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Analysis

Chun Yuan Steel Industry Co Ltd (2010) currently trades at 22.55 TWD, while our model-based Fair Value estimate is 27.76 TWD, implying the stock looks roughly 18.8% undervalued today. The Quality Score stands at 58/100 (solid quality), in the Basic Materials sector. Bull case: the Multiples group reads highest at a median of 36.46 TWD per share, and 17 of the 22 models we run sit above the 22.55 TWD price. Bear case: the Asset-Based group reads lowest at 13.36 TWD, and 5 of the 22 models stay below the price. Evidence for this calculation is low.

Over the trailing twelve months, Chun Yuan Steel Industry Co Ltd generated revenue of 25.0B TWD at a net margin of 6.0%. Revenue grew 15.0% year over year. It earns a return on equity of 12.4%. Net debt stands at 3.6B TWD. Fundamentals as of Aug 22, 2026

Our scenario range runs from 20.31 TWD (bear case) to 39.20 TWD (bull case); at 22.55 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 about 14% below its 52-week high and 25% above its 52-week low, currently above its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at −23% fair-value upside, at 23%, 2010 screens cheaper than that median.

Fair Value models

This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly 0.2183 TWD per share, which is 0.8 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced 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. Every input is real reported data, nothing guessed.

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
FCF DCF 15.24 TWD 20.96 TWD 32.18 TWD 80
Growth DCF 15.89 TWD 21.47 TWD 31.55 TWD 79
Owner Earnings 12.86 TWD 17.74 TWD 27.32 TWD 76
All 22 models by family
DCF Models
FCF DCF 15.24 TWD 20.96 TWD 32.18 TWD 80
Owner Earnings 12.86 TWD 17.74 TWD 27.32 TWD 76
5Y Revenue Exit 19.16 TWD 29.34 TWD 44.42 TWD 72
5Y EBITDA Exit 17.92 TWD 27.24 TWD 39.79 TWD 75
5Y P/E Exit 21.07 TWD 32.58 TWD 46.52 TWD 70
10Y Revenue Exit 16.84 TWD 25.52 TWD 35.54 TWD 67
10Y EBITDA Exit 16.75 TWD 24.14 TWD 32.53 TWD 69
10Y P/E Exit 18.68 TWD 27.66 TWD 36.92 TWD 64
Earnings-Based
Graham-Dodd 15.80 TWD 26.45 TWD 32.16 TWD 67
EPV 19.41 TWD 22.82 TWD 25.79 TWD 74
Multiples
P/E Multiple 29.63 TWD 39.50 TWD 49.38 TWD 63
P/S Multiple 29.63 TWD 39.50 TWD 49.38 TWD 58
P/B Multiple 29.63 TWD 39.50 TWD 49.38 TWD 55
EV/EBIT 27.09 TWD 36.46 TWD 45.82 TWD 66
EV/EBITDA 22.80 TWD 30.73 TWD 38.66 TWD 67
EV/Revenue 23.35 TWD 33.78 TWD 44.21 TWD 53
Asset-Based
NCAV (Graham) 9.97 TWD 13.36 TWD 19.94 TWD 54
Growth DCF
Growth DCF 15.89 TWD 21.47 TWD 31.55 TWD 79
Rev-Margin DCF 19.16 TWD 29.60 TWD 42.69 TWD 72
Economic Profit
Residual Income 18.30 TWD 21.42 TWD 41.33 TWD 72
ROIC Compounder 19.41 TWD 23.21 TWD 27.46 TWD 72
Growth Earnings
Growth-Adj P/E 21.11 TWD 30.15 TWD 39.20 TWD 67

Widest divergence: Multiples (36.46 TWD) versus Asset-Based (13.36 TWD). Highest evidence: FCF DCF (80).

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Key figures & financial health

P/E ratio 9.7
P/S ratio 0.60 P/E × margin
EPS (TTM) 2.32 TWD price ÷ EPS = P/E 9.7
Dividend yield 8.9% payout 86.2%
Net margin 6.2% FY2025
Return on equity 12.4% TTM
More key figures
Profitability
Return on assets (EBIT) 5.7% avg 5y
Operating margin 7.2% TTM
Growth
Revenue (TTM) 25.0B TWD TTM
Revenue growth (YoY) +15.0% 3y avg −0.4%
EPS growth (YoY) +1.8%
Balance sheet & cash flow
Free cash flow 1.0B TWD FY2025
Net debt 3.6B TWD FY2025 · ≈ 3.5 yrs of FCF

Figures from reported company fundamentals · as of Aug 22, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 58/100

Of which business quality 57 · Market factors (momentum, volatility) 55

Profitability 45
Margins and returns on capital today
Quality Growth 44
Are margins and returns improving?
Cashflow 38
Earnings quality: real cash, not paper profit
Fin. Strength 68
Balance sheet, leverage, solvency risk
Investment 80
Disciplined investing over empire-building
Low Volatility 90
Calm price path (market factor)
Momentum 37
Price trend over the last 3–12 months (market factor)
52W Momentum 44
Distance to the 52-week high (market factor)
Net Issuance 81
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.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Chun Yuan Steel Industry Co., Ltd. manufactures, processes, and trades steel plates, silicon steel sheets, container components, special steel, and H-beams, and undertakes construction of steel structure projects in Taiwan, Asia, America, and Europe.

Full company description

Chun Yuan Steel Industry Co., Ltd. manufactures, processes, and trades steel plates, silicon steel sheets, container components, special steel, and H-beams, and undertakes construction of steel structure projects in Taiwan, Asia, America, and Europe. The company produces, processes, and sells hot-rolled steel plates, cold-rolled steel plates, coated steel plates, and aluminum materials; manufactures and sells EI sheets for transformers and ballasts, motor stator and rotor cores, molds, alloy tool steel, and structural steel; and produces stainless steel, carbon steel, alloy steel, carbon tool steel, spring tray steel coils, steel strips, copper strips, and general cold and hot rolled steel coils, and provides metal processing services such as laser cutting, shearing, punching, pressing, welding, and forming, as well as designs, manufactures, installs, and sells various mechanical and electrical mobile cabinets and light, medium, and heavy-duty material racks and other logistics and warehousing equipment. The company also focuses on new electromechanical components and precision stamping dies; processes and sells cold-rolled silicon steel sheets, metal materials, rotors, and stators; and manufactures transformer parts, rotors, stators, and related metal products. The company was founded in 1965 and is based in Taipei City, Taiwan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Chun Yuan Steel Industry Co Ltd reported revenue of 24.2B TWD in FY2025 versus 26.3B TWD in FY2021, a compound −2.1%/yr. Reported net income was 1.5B TWD in FY2025, compounding +5.4%/yr from FY2021.

Growth Quality 68/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
24.2B TWD
Latest YoY
+0.7%
Avg. revenue 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.
−0.4%
Avg. revenue 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.
+4.7%
Avg. revenue growth/yr (23Y) 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.
+3.3%
Value creation/yr (5Y, in TWD) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year. 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.
≈ +32.8% (approximate, leans on 2025) · in TWD
Earnings growth per share plus dividend yield: the value created per share and year.
Earnings growth per share+23.9%
Dividend yield8.9%
Trend 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.5Y 23.9% vs 10Y 8.6%, picking up
Operating margin (EBIT) 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.3.7% (2020) → 7.2% (2025) · rising
Worst earnings drop62% (2018) · in TWD
⚠ Rate leans on 2025: that final year sits 72% above its own trend (e.g. a one-off disposal gain) and could not be adjusted
Revenue −2.1%/yr
FY21 26.3B TWD
FY22 24.5B TWD
FY23 21.2B TWD
FY24 24.0B TWD
FY25 24.2B TWD
Net income +5.4%/yr
FY21 1.2B TWD
FY22 613M TWD
FY23 876M TWD
FY24 1.1B TWD
FY25 1.5B TWD
Character of growth · EPS growth decomposed (2014-2025) +7.6 % p.a.
Revenue per share +3.0 %

of which total revenue +3.0 % · buybacks/dilution +0.0 %

EBIT margin +9.9 %
Tax rate +0.1 %
Residual (interest, one-offs) −5.0 %

Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).

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Cite: Fair Value Calculator (2026). "Chun Yuan Steel Industry Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/2010.TW

Peer Group

Steel · 399 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 58 · Top 25%
Fair Value upside +23% · Above median
Return on equity (TTM) 12% · Top 25%
Return on assets 5% · Above median
Net margin (TTM) 6% · Above median
Operating margin (TTM) 7% · Above median
Revenue growth 15% · Top 25%
Dividend yield (TTM) 8.9% · Top 25%
Debt / equity 0.10× · Higher than median

Valuation Multiples vs Steel median · lower = cheaper

P/E (TTM) 9.7× · Cheaper than 75% of peers
P/B 1.06× · Cheaper than median
P/S (TTM) 0.55× · Cheaper than median
P/FCF 0.4× · Cheaper than median
EV/EBITDA 7.0× · Cheaper than median

Strength profile in five axes (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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE64 · sector 13
FUTURE75 · sector 2
PAST50 · sector 16
HEALTH95 · sector 95
DIVIDEND100 · sector 49

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

Similar stocks

10 more Steel stocks, each showing price versus our Fair Value estimate (as of Aug 22, 2026).

Stock Price Fair Value vs Fair Value
Nucor Corporation NUE $250.50 $116.05 −54%
ArcelorMittal S.A MT €64.60 €46.04 −29%
JSW Steel Limited JSWSTEEL ₹1,296 ₹1,119 −14%
Steel Dynamics, Inc STLD $234.67 $127.14 −46%
500228 500228 ₹1,292 ₹1,079 −16%
Tata Steel Limited TATASTEEL ₹188.79 ₹145.39 −23%
Reliance, Inc RS $387.59 $217.81 −44%
Baoshan Iron & Steel Co 600019 ¥5.91 ¥8.07 +37%
POSCO Holdings PKX $63.13 $85.21 +35%
Jindal Steel & Power Limited JINDALSTEL ₹1,114 ₹429.44 −61%

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Frequently asked questions

Is Chun Yuan Steel Industry Co Ltd (2010) overvalued or undervalued?
As of Aug 22, 2026, our model estimates a fair value of 27.76 TWD versus a price of 22.55 TWD, about +23% upside (undervalued).
What is the fair value of 2010?
Our model-based fair value for Chun Yuan Steel Industry Co Ltd is 27.76 TWD (as of Aug 22, 2026), built from audited fundamentals. The current price: 22.55 TWD.
What is the quality score of 2010?
Chun Yuan Steel Industry Co Ltd has a Quality Score of 58/100. 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 Chun Yuan Steel Industry Co Ltd (2010)?
Our model-based price target is the fair value of 27.76 TWD (as of Aug 22, 2026) from 22 valuation models. Cautious scenario 20.31 TWD, optimistic scenario 39.20 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Chun Yuan Steel Industry Co Ltd stock forecast for 2026?
Our models put fair value at 27.76 TWD, about +23% upside versus a price of 22.55 TWD (undervalued). Cautious scenario 20.31 TWD, optimistic scenario 39.20 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Chun Yuan Steel Industry Co Ltd (2010)?
Chun Yuan Steel Industry Co Ltd reported trailing-twelve-month revenue of about 25.0B TWD (latest available figure, as of Aug 22, 2026).
What is the net profit margin of 2010?
The net profit margin of Chun Yuan Steel Industry Co Ltd is about 6.0%, meaning it keeps roughly 6.0% of revenue as net income. Based on the latest reported figures.
Does Chun Yuan Steel Industry Co Ltd pay a dividend?
Chun Yuan Steel Industry Co Ltd currently shows a dividend yield of about 8.87% relative to its recent price (as of Aug 22, 2026).
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