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YC Inox Co (2034) Fair Value & Analysis

Basic Materials · TW · Market cap 10.2B TWD

YI YC Inox Co 2034 · TW
Price20.35 TWD
Fair Value6.92 TWD
Upside-66.0%
Quality34/100
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Weak Growth
Loss-making · -1.3% net margin
Low debt · negative free cash flow
5.10% dividend yield
Trails peers (3/12)
Narrow moat 19/100
Evidence: Medium Range 5.18 TWD – 8.64 TWD Share as image

Fair value as of: Jul 21, 2026

From 12 valuation models · updated 20 days ago

Fair value updated Jul 21, 2026, revised from 3.46 TWD to 6.92 TWD (+100.0%) since Jul 7, 2026. Share price +4.0% over the past month.

Below-average quality, and screening another 66% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (8.64 TWD). The favourable scenario is already priced in.
  • Weak quality (34/100) and above fair value at the same time, the margin of safety is missing on both counts.
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Price vs Fair Value (5 years)

38.57 TWD 18.40 TWD Fair Value 6.92 TWD Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 21, 2026.

How to read this chart

60‑month range 18.40 TWD – 38.57 TWD · fair‑value band 5.18 TWD – 8.64 TWD · the 20.35 TWD price screens above the 6.92 TWD fair value. Dashed = 300-day average. As of Jul 21, 2026.

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Analysis

YC Inox Co (2034) currently trades at 20.35 TWD, while our model-based Fair Value estimate is 6.92 TWD, implying the stock looks roughly 66.0% overvalued today. The Quality Score stands at 34/100 (below-average 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: medium).

Over the trailing twelve months, YC Inox Co generated revenue of 11.7B TWD at a net margin of -1.3%. Revenue declined 22.0% year over year. It earns a return on equity of -1.5%. Net debt stands at 10.1B TWD. Fundamentals as of Jul 21, 2026

Our scenario range runs from 5.18 TWD (bear case) to 8.64 TWD (bull case); at 20.35 TWD, the current price sits above 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 15% below its 52-week high and 11% 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 -66%, 2034 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 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
Residual Income 12.63 TWD 11.94 TWD 8.82 TWD 76
Gordon GGM 9.09 TWD 9.95 TWD 11.26 TWD 70
Growth-Adj P/E 1.85 TWD 2.64 TWD 3.43 TWD 68
All 12 models by family
Earnings-Based
Graham-Dodd 1.38 TWD 1.69 TWD 1.90 TWD 54
Dividend Discount
Gordon GGM 9.09 TWD 9.95 TWD 11.26 TWD 70
DDM Multi-Stage 9.09 TWD 11.40 TWD 14.65 TWD 61
Multiples
P/E Multiple 2.59 TWD 3.46 TWD 4.32 TWD 63
P/S Multiple 2.59 TWD 3.46 TWD 4.32 TWD 58
P/B Multiple 2.59 TWD 3.46 TWD 4.32 TWD 55
EV/EBIT 1.28 TWD 53
EV/EBITDA 5.61 TWD 9.20 TWD 12.80 TWD 54
EV/Revenue 1.06 TWD 43
Asset-Based
NCAV (Graham) 9.15 TWD 12.26 TWD 18.30 TWD 50
Economic Profit
Residual Income 12.63 TWD 11.94 TWD 8.82 TWD 76
Growth Earnings
Growth-Adj P/E 1.85 TWD 2.64 TWD 3.43 TWD 68

Widest divergence: Asset-Based (12.26 TWD) versus Earnings-Based (1.69 TWD). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 11.7B TWD
Revenue growth (YoY) -22.0%
Net margin -1.3%
Return on equity -1.5%
Free cash flow −651M TWD FY2025
P/E ratio 101.3
More key figures
Operating margin 1.3%
EPS (TTM) 0.2000 TWD
Dividend yield 5.0%
EPS growth (YoY) -99.2%
Net debt 10.1B TWD FY2025

Figures from reported company fundamentals · as of Jul 21, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 34/100

Of which business quality 34 · Market factors (momentum, volatility) 51

Profitability 20
Margins and returns on capital today
Quality Growth 34
Are margins and returns improving?
Cashflow 30
Earnings quality: real cash, not paper profit
Fin. Strength 26
Balance sheet, leverage, solvency risk
Investment 83
Disciplined investing over empire-building
Low Volatility 85
Calm price path (market factor)
Momentum 39
Price trend over the last 3–12 months (market factor)
52W Momentum 33
Distance to the 52-week high (market factor)
Net Issuance 35
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

YC Inox Co.,Ltd manufactures, processes and trades stainless-steel products in Asia, Europe, the United States, and internationally. The company operates through Stainless Steel Pipes, Stainless Steel Sheets (Coils) and Others. The company offers stainless steel pipes, stainless steel sheets and coils.

Full company description

YC Inox Co.,Ltd manufactures, processes and trades stainless-steel products in Asia, Europe, the United States, and internationally. The company operates through Stainless Steel Pipes, Stainless Steel Sheets (Coils) and Others. The company offers stainless steel pipes, stainless steel sheets and coils. It provides stainless plates, flat bars, angels, u-channels, checker plates, and welded pipes and tubes. In addition, the company is involved in the provision of agency services and international trading. The company was formerly known as Yeun Chyang Industrial Co., Ltd. and changed its name to YC Inox Co., Ltd. in July 2012. The company was incorporated in 1973 and is headquartered in Changhua, Taiwan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

YC Inox Co reported revenue of 12.5B TWD in FY2025 versus 17.8B TWD in FY2021, a compound −8.4%/yr. Reported net income was 108M TWD in FY2025, compounding −45.9%/yr from FY2021.

Growth Quality 18/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
12.5B TWD
Latest YoY
−13.6%
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.
−9.4%
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.
−0.3%
Avg. 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.
+6.3%
Revenue −8.4%/yr
FY21 17.8B TWD
FY22 16.8B TWD
FY23 15.2B TWD
FY24 14.5B TWD
FY25 12.5B TWD
Net income −45.9%/yr
FY21 1.3B TWD
FY22 518M TWD
FY23 −170M TWD
FY24 −103M TWD
FY25 108M TWD

2034 screens 66% overvalued. Compare with Tata Steel Limited →

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Cite: Fair Value Calculator (2026). "YC Inox Co Fair Value". https://www.fairvalue-calculator.com/stock/2034

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 34 · Bottom 25%
Fair Value upside −66% · Bottom 25%
Return on assets 0% · Below median
Net margin (TTM) -1% · Bottom 25%
Operating margin (TTM) 1% · Below median
Revenue growth -22% · Bottom 25%
Dividend yield (TTM) 5.1% · Top 25%
Debt / equity 0.39× · Higher than 75% of peers

Valuation Multiples vs Steel median · lower = cheaper

P/E (TTM) 96.8× · Pricier than 75% of peers
P/S (TTM) 0.03× · Cheaper than 75% of peers
EV/EBITDA 5.2× · 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 0 · sector 19
FUTURE 0 · sector 4
PAST 0 · sector 15
HEALTH 81 · sector 95
DIVIDEND 100 · sector 41

VALUE 0: the price sits above our fair-value range.

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 21, 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 YC Inox Co (2034) overvalued or undervalued?
As of Jul 21, 2026, our model estimates a fair value of 6.92 TWD versus a price of 20.35 TWD, about −66% (overvalued).
What is the fair value of 2034?
Our model-based fair value for YC Inox Co is 6.92 TWD (as of Jul 21, 2026), built from audited fundamentals. The current price is 20.35 TWD.
What is the quality score of 2034?
YC Inox Co has a Quality Score of 34/100. 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 YC Inox Co (2034)?
YC Inox Co reported trailing-twelve-month revenue of about 11.7B TWD (latest available figure, as of Jul 21, 2026).
What is the net profit margin of 2034?
The net profit margin of YC Inox Co is about -1.3%, meaning it is currently running at a net loss. Based on the latest reported figures.
Does YC Inox Co pay a dividend?
YC Inox Co currently shows a dividend yield of about 4.99% relative to its recent price (as of Jul 21, 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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