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Tang Eng Iron Works Co Ltd (2035) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Tang Eng Iron Works Co Ltd TWD 4.32, price TWD 26.50, upside -83.7%, quality 27 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
- Fair value above price? No
- Good quality? No
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Thin data
Sep 24, 2026
Tang Eng Iron Works Co Ltd
2035 · TWOWeakest SetupStrongly overvalued and low quality.
!Fair value 4.32 TWD · Strongly overvalued (−84%)
!Quality 27/100
!Weak Growth (revenue 5y −2.4 %/yr)
!Loss-making · -11.6% net margin (TTM)
!High debt · negative free cash flow
!Trails peers (2/10)
!Narrow moat 11/100
!Evidence only low, so the estimate is less certain
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What runs behind every stock
26
valuation models
8 families, DCF to NCAV
37
quality factors
margins, balance sheet, cashflow, debt
6
AI factors
moat, what no ratio measures
2,000+
data points
verified, per stock, median
69 individual criteria per stock, every one traceable See the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range 26.20 TWD – 49.10 TWD · fair‑value band 3.23 TWD – 6.45 TWD · the 26.50 TWD price screens above the 4.32 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
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Company profile
Tang Eng Iron Works Co., Ltd. manufactures and trades in stainless steel products in Taiwan. The company offers steel blanks and ingots, steel boards, hot and cold steel coils. It is also involved in manufacturing, retailing, and leasing rail vehicles and its parts. Tang Eng Iron Works Co., Ltd. was founded in 1940 and is based in Kaohsiung, Taiwan.
Stock analysis
Tang Eng Iron Works Co Ltd (2035) currently trades at 26.50 TWD, while our model-based Fair Value estimate is 4.32 TWD, implying the stock looks roughly 513.5% overvalued today.
Show more
Valuation
How firm this estimate is: it rests on 1 models at a data quality of 95/100, which puts the evidence level at low.
Scenario range: 3.23 TWD (bear) to 6.45 TWD (bull), the price of 26.50 TWD sits above 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 27/100 (below-average quality), in the Basic Materials sector.
Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.
Tang Eng Iron Works Co Ltd reported revenue of 9.6B TWD in FY2025 versus 16.8B TWD in FY2021, a compound −13.1%/yr. Reported net income was −1.7B TWD in FY2025.
Key figures
Market cap 9.3B TWD (≈ $291M) · P/S ratio 1.00 · EPS (TTM) −4.72 TWD · Net margin −17.2% · Return on equity −38.4% · Return on assets (EBIT) −2.4% · Operating margin 1.3% · Revenue (TTM) 9.5B TWD.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 27 out of 100 (medium confidence).
What moves the price
The share trades about 13% below its 52-week high and 1% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at −45% fair-value upside, at −84%, 2035 screens richer than that median.
Fair Value models
Bear 3.23 TWD
Fair Value 4.32 TWD
Bull 6.45 TWD
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single 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 ⓘEvidence = 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.
Highest evidence
NCAV (Graham)
3.25 TWD
4.36 TWD
6.50 TWD
54
All 1 models by family
Asset-Based
NCAV (Graham)
3.25 TWD
4.36 TWD
6.50 TWD
54
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Set up alert →Quality Score breakdown
Overall quality
27/100
Of which business quality 24 · Market factors (momentum, volatility) 46
Profitability
7
Margins and returns on capital today
Quality Growth
0
Are margins and returns improving?
Cashflow
2
Earnings quality: real cash, not paper profit
Fin. Strength
2
Balance sheet, leverage, solvency risk
Investment
99
Disciplined investing over empire-building
Low Volatility
89
Calm price path (market factor)
Momentum
33
Price trend over the last 3–12 months (market factor)
52W Momentum
17
Distance to the 52-week high (market factor)
Net Issuance
82
Share count: buybacks or dilution?
Revenue & earnings trend
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.
0/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−21.2%
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.
−11.9%
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.
−2.4%
Start year 2020 (pandemic). Over 10 years: −4.2% a year
Revenue growth 22 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.
−2.6%
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Profit margin (trend) ⓘ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.
−5.2% (2020) → −16.2% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed
2035 screens 513% overvalued. Compare with Nucor Corporation →
Compare Tang Eng Iron Works Co Ltd 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 · 411 stocks
Beats the industry median on 2/9 measures
Overall it trails its industry peers.
Valuation Multiplesvs Steel median · lower = cheaper
Context: sector, industry, market
- Is the Materials sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- Undervalued stocks: Taiwanese Stocks
- Valuation of the Taiwan market
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.
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Nucor Corporation NUE | $246.98 | $116.05 | −53% |
| Steel Dynamics, Inc STLD | $234.29 | $127.14 | −46% |
| JSW Steel Limited JSWSTEEL | ₹1,298 | ₹1,103 | −15% |
| Tata Steel Limited TATASTEEL | ₹190.82 | ₹147.13 | −23% |
| Reliance, Inc RS | $384.63 | $211.57 | −45% |
| Baoshan Iron & Steel Co 600019 | ¥5.73 | ¥8.07 | +41% |
| POSCO Holdings PKX | $59.05 | $68.58 | +16% |
| Inner Mongolia Baotou Steel Union Co 600010 | ¥2.12 | ¥0.5500 | −74% |
| Jindal Steel Limited JINDALSTEL | ₹1,175 | ₹516.27 | −56% |
| Lloyds Metals and Energy Limited LLOYDSME | ₹1,891 | ₹771.10 | −59% |
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Frequently asked questions
Is Tang Eng Iron Works Co Ltd (2035) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 4.32 TWD versus a price of 26.50 TWD, about −84% upside (overvalued).
What is the fair value of 2035?
Our model-based fair value for Tang Eng Iron Works Co Ltd is 4.32 TWD (as of Sep 24, 2026), built from audited fundamentals. The current price: 26.50 TWD.
What is the quality score of 2035?
Tang Eng Iron Works Co Ltd has a Quality Score of 27/100. 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 Tang Eng Iron Works Co Ltd (2035)?
Our model-based price target is the fair value of 4.32 TWD (as of Sep 24, 2026) from 1 valuation models. Cautious scenario 3.23 TWD, optimistic scenario 6.45 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Tang Eng Iron Works Co Ltd stock forecast for 2026?
Our models put fair value at 4.32 TWD, about −84% upside versus a price of 26.50 TWD (overvalued). Cautious scenario 3.23 TWD, optimistic scenario 6.45 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Tang Eng Iron Works Co Ltd (2035)?
Tang Eng Iron Works Co Ltd reported trailing-twelve-month revenue of about 9.5B TWD (latest available figure, as of Sep 24, 2026).
What is the intrinsic value of Tang Eng Iron Works Co Ltd (2035)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Tang Eng Iron Works Co Ltd it is 4.32 TWD per share (as of Sep 24, 2026), against a price of 26.50 TWD. It is the blended result of 1 valuation models (cash flow, earnings, asset, dividend).
Is Tang Eng Iron Works Co Ltd stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 2035 trades above its calculated fair value: price 26.50 TWD, fair value 4.32 TWD, a gap of about −84% (overvalued). 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 2035?
No. The price is what the market pays today (26.50 TWD); the fair value is what the company's own numbers justify (4.32 TWD). For Tang Eng Iron Works Co Ltd the two are 22.18 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Tang Eng Iron Works Co Ltd worth?
The market values Tang Eng Iron Works Co Ltd at about 9.3B TWD (market capitalisation, as of Sep 24, 2026). Per share that is 26.50 TWD; our models calculate a fair value of 4.32 TWD per share.
What do the bullish and bearish scenarios say about 2035?
Our models span a range for Tang Eng Iron Works Co Ltd: cautious scenario 3.23 TWD, base 4.32 TWD, optimistic 6.45 TWD per share (as of Sep 24, 2026, price 26.50 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Tang Eng Iron Works Co Ltd (2035)?
Balance-sheet figures for Tang Eng Iron Works Co Ltd (as of Sep 24, 2026): return on equity −38.4%, debt of 3.72 per unit of equity. They feed the Quality Score of 27/100, which measures business quality independently of the share price.
How far is 2035 from its 52-week high?
Tang Eng Iron Works Co Ltd trades at 26.50 TWD, about 13% below its 52-week high of 30.50 TWD and 1% above the low of 26.20 TWD (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 4.32 TWD is for.
Which stocks are comparable to Tang Eng Iron Works Co Ltd?
From the same area (Basic Materials) we also value Nucor Corporation, Steel Dynamics, Inc, JSW Steel Limited, Tata 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 Tang Eng Iron Works Co Ltd stock attractive at the current price?
The data as of Sep 24, 2026: price 26.50 TWD, calculated fair value 4.32 TWD (−84%), Quality Score 27/100, from 1 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 2035 calculated?
We run Tang Eng Iron Works Co Ltd through 1 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of 4.32 TWD, 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. Tang Eng Iron Works Co Ltd itself currently trades above fair value. 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 Tang Eng Iron Works Co Ltd (2035)?
The closing price on Sep 24, 2026 was 26.50 TWD. Our model-based fair value is 4.32 TWD, about −84% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Tang Eng Iron Works Co Ltd right now?
The price sits above even our optimistic bull case (6.45 TWD). The favourable scenario is already priced in. Weak quality (27/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. A fairly wide model range (3.23 TWD to 6.45 TWD) leaves room in how you read the outcome.
Key figures of Tang Eng Iron Works Co Ltd
How large is the market capitalisation of Tang Eng Iron Works Co Ltd (2035)?
The market capitalisation of Tang Eng Iron Works Co Ltd is 9.3B TWD (≈ $291M). 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 Tang Eng Iron Works Co Ltd (2035)?
The price-to-sales ratio of Tang Eng Iron Works Co Ltd is 1.00 (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 Tang Eng Iron Works Co Ltd (2035)?
Earnings per share at Tang Eng Iron Works Co Ltd are −4.72 TWD. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Tang Eng Iron Works Co Ltd (2035)?
The net margin of Tang Eng Iron Works Co Ltd is −17.2% (fiscal year 2025). 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 Tang Eng Iron Works Co Ltd (2035)?
The return on equity (ROE) of Tang Eng Iron Works Co Ltd is −38.4% (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 Tang Eng Iron Works Co Ltd (2035)?
On an EBIT basis the return on assets of Tang Eng Iron Works Co Ltd is −2.4% (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 Tang Eng Iron Works Co Ltd (2035)?
The operating margin of Tang Eng Iron Works Co Ltd is 1.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Tang Eng Iron Works Co Ltd (2035)?
Revenue at Tang Eng Iron Works Co Ltd is growing −2.1% versus a year earlier (3y avg −11.9%). 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 Tang Eng Iron Works Co Ltd (2035)?
Earnings per share at Tang Eng Iron Works Co Ltd are growing −96.7% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Tang Eng Iron Works Co Ltd (2035) generate?
The free cash flow of Tang Eng Iron Works Co Ltd is −1.2B TWD (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Tang Eng Iron Works Co Ltd (2035) carry?
The net debt of Tang Eng Iron Works Co Ltd is 10.7B TWD (fiscal year 2025). 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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