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Sheng Yu Steel Co (2029) Fair Value & Analysis

Basic Materials · TW · Market cap 6.6B TWD

SY Sheng Yu Steel Co 2029 · TW
Price21.20 TWD
Fair Value25.05 TWD
Upside+18.1%
Quality57/100
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Mixed Growth
Thin margins · 1.6% net margin
Low debt · generates free cash flow
2.89% dividend yield
Ranks above peers (9/14)
Narrow moat 29/100
Evidence: High Range 19.93 TWD – 25.66 TWD Share as image

Fair value as of: Jul 23, 2026

From 22 valuation models · updated 18 days ago

Fair value updated Jul 23, 2026, revised from 17.86 TWD to 25.05 TWD (+40.2%) since Jul 7, 2026. Share price +4.9% over the past month.

A solid business, screening 18% undervalued on our models.

What matters now

  • Our model range runs from 19.93 TWD (bear) to 25.66 TWD (bull), base 25.05 TWD. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 57/100 (solid quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

48.09 TWD 18.79 TWD Fair Value 25.05 TWD Mar 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 18.79 TWD – 48.09 TWD · fair‑value band 19.93 TWD – 25.66 TWD · the 21.20 TWD price screens below the 25.05 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 23, 2026.

Full chart & analysis →

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Analysis

Sheng Yu Steel Co (2029) currently trades at 21.20 TWD, while our model-based Fair Value estimate is 25.05 TWD, implying the stock looks roughly 18.1% undervalued today. The Quality Score stands at 57/100 (solid quality), in the Basic Materials 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, Sheng Yu Steel Co generated revenue of 12.6B TWD at a net margin of 1.6%. Revenue declined 18.1% year over year. It earns a return on equity of 2.1%. The balance sheet holds a net cash position of 2.8B TWD. Fundamentals as of Jul 23, 2026

Our scenario range runs from 19.93 TWD (bear case) to 25.66 TWD (bull case); at 21.20 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 13% below its 52-week high and 8% 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 18%, 2029 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 31.31 TWD 38.76 TWD 51.09 TWD 80
Residual Income 21.95 TWD 20.86 TWD 16.51 TWD 76
Rev-Margin DCF 22.32 TWD 26.76 TWD 32.42 TWD 74
All 22 models by family
DCF Models
FCF DCF 30.42 TWD 38.14 TWD 52.01 TWD 38
Owner Earnings 12.52 TWD 13.70 TWD 15.82 TWD 31
5Y Revenue Exit 22.32 TWD 26.25 TWD 31.92 TWD 39
5Y EBITDA Exit 24.19 TWD 29.50 TWD 36.53 TWD 41
5Y P/E Exit 22.61 TWD 26.75 TWD 31.76 TWD 38
10Y Revenue Exit 25.24 TWD 28.42 TWD 31.63 TWD 36
10Y EBITDA Exit 26.57 TWD 30.38 TWD 34.28 TWD 37
10Y P/E Exit 25.63 TWD 28.72 TWD 31.54 TWD 35
Earnings-Based
Graham-Dodd 5.06 TWD 6.19 TWD 6.96 TWD 54
EPV 15.76 TWD 16.79 TWD 17.67 TWD 59
Multiples
P/E Multiple 9.49 TWD 12.66 TWD 15.82 TWD 63
P/S Multiple 9.49 TWD 12.66 TWD 15.82 TWD 58
P/B Multiple 9.49 TWD 12.66 TWD 15.82 TWD 55
EV/EBIT 18.91 TWD 22.11 TWD 25.31 TWD 53
EV/EBITDA 21.87 TWD 26.07 TWD 30.26 TWD 54
EV/Revenue 17.62 TWD 21.19 TWD 24.76 TWD 43
Asset-Based
NCAV (Graham) 15.68 TWD 21.02 TWD 31.37 TWD 50
Growth DCF
Growth DCF 31.31 TWD 38.76 TWD 51.09 TWD 80
Rev-Margin DCF 22.32 TWD 26.76 TWD 32.42 TWD 74
Economic Profit
Residual Income 21.95 TWD 20.86 TWD 16.51 TWD 76
ROIC Compounder 15.76 TWD 16.79 TWD 17.67 TWD 72
Growth Earnings
Growth-Adj P/E 6.76 TWD 9.66 TWD 12.56 TWD 68

Widest divergence: DCF Models (28.42 TWD) versus Earnings-Based (6.19 TWD). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 12.6B TWD
Revenue growth (YoY) -18.1%
Net margin 1.6%
Return on equity 2.1%
Free cash flow 733M TWD FY2025
P/E ratio 28.6
More key figures
Operating margin 4.7%
EPS (TTM) 0.7400 TWD
Dividend yield 2.9%
EPS growth (YoY) -22.5%
Net cash 2.8B TWD FY2025

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

Quality Score breakdown

Overall quality 57/100

Of which business quality 59 · Market factors (momentum, volatility) 54

Profitability 36
Margins and returns on capital today
Quality Growth 28
Are margins and returns improving?
Cashflow 56
Earnings quality: real cash, not paper profit
Fin. Strength 97
Balance sheet, leverage, solvency risk
Investment 93
Disciplined investing over empire-building
Low Volatility 99
Calm price path (market factor)
Momentum 39
Price trend over the last 3–12 months (market factor)
52W Momentum 28
Distance to the 52-week high (market factor)
Net Issuance 43
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

Sheng Yu Steel Co., Ltd. manufactures, processes, and sells steel coils in Taiwan, the rest of Asia, Europe, the United States, and internationally. The company provides galvanized products, including Al-Zn alloy-coated and galvanized steel coils; prepainted Al-Zn alloy-coated and galvanized steel coils and sheets; and cold-rolled steel sheets and coils.

Full company description

Sheng Yu Steel Co., Ltd. manufactures, processes, and sells steel coils in Taiwan, the rest of Asia, Europe, the United States, and internationally. The company provides galvanized products, including Al-Zn alloy-coated and galvanized steel coils; prepainted Al-Zn alloy-coated and galvanized steel coils and sheets; and cold-rolled steel sheets and coils. It offers chrome-free anti-fingerprint zinc-coated and Al-Zn alloy-coated, pre-painted, printed color, single-side pre-painted anti-fingerprint galvanized, anti-static and antiseptic pre-painted, and low-gloss pre-painted coated steel sheets; two-tone pre-painted, pearl pre-painted, baroque embossed pre-painted, and anti-dirt pre-painted steel coils; whiteboards; and blackboards. In addition, the company is involved in trading and testing laboratory businesses. The company was incorporated in 1973 and is headquartered in Kaohsiung, Taiwan. Sheng Yu Steel Co., Ltd. operates as a subsidiary of Yodogawa Steel Works, Ltd.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Sheng Yu Steel Co reported revenue of 13.3B TWD in FY2025 versus 14.4B TWD in FY2021, a compound −1.9%/yr. Reported net income was 239M TWD in FY2025, compounding −34.1%/yr from FY2021.

Growth Quality 63/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
13.3B TWD
Latest YoY
−3.1%
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.
+1.2%
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.
+7.2%
Avg. growth/yr (25Y) 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.
+1.6%
Revenue −1.9%/yr
FY21 14.4B TWD
FY22 12.8B TWD
FY23 12.4B TWD
FY24 13.7B TWD
FY25 13.3B TWD
Net income −34.1%/yr
FY21 1.3B TWD
FY22 505M TWD
FY23 627M TWD
FY24 581M TWD
FY25 239M TWD
Character of growth · EPS growth decomposed (2014-2025) −6.3 % p.a.
Revenue per share −1.3 pp

of which total revenue −1.1 pp · buybacks/dilution −0.2 pp

EBIT margin −8.0 pp
Tax rate +0.2 pp
Residual (interest, one-offs) +2.7 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). "Sheng Yu Steel Co Fair Value". https://www.fairvalue-calculator.com/stock/2029

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 57 · Above median
Fair Value upside +18% · Above median
Return on equity (TTM) 2% · Below median
Return on assets 1% · Below median
Net margin (TTM) 2% · Below median
Operating margin (TTM) 5% · Above median
Revenue growth -18% · Bottom 25%
Dividend yield (TTM) 2.9% · Above median

Valuation Multiples vs Steel median · lower = cheaper

P/E (TTM) 27.7× · Pricier than median
P/B 0.65× · Cheaper than median
P/S (TTM) 0.52× · Cheaper than median
P/FCF 0.3× · Cheaper than median
EV/EBITDA 7.7× · 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 57 · sector 19
FUTURE 0 · sector 4
PAST 9 · sector 15
HEALTH 100 · sector 95
DIVIDEND 58 · 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 Sheng Yu Steel Co (2029) overvalued or undervalued?
As of Jul 23, 2026, our model estimates a fair value of 25.05 TWD versus a price of 21.20 TWD, about +18% (undervalued).
What is the fair value of 2029?
Our model-based fair value for Sheng Yu Steel Co is 25.05 TWD (as of Jul 23, 2026), built from audited fundamentals. The current price is 21.20 TWD.
What is the quality score of 2029?
Sheng Yu Steel Co has a Quality Score of 57/100. 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 Sheng Yu Steel Co (2029)?
Sheng Yu Steel Co reported trailing-twelve-month revenue of about 12.6B TWD (latest available figure, as of Jul 23, 2026).
What is the net profit margin of 2029?
The net profit margin of Sheng Yu Steel Co is about 1.6%, meaning it keeps roughly 1.6% of revenue as net income. Based on the latest reported figures.
Does Sheng Yu Steel Co pay a dividend?
Sheng Yu Steel Co currently shows a dividend yield of about 2.89% 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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