Nankang Rubber Tire Corp Ltd (2101) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Nankang Rubber Tire Corp Ltd stock TWD 9.34, price TWD 27.40, that is 65.9% below the price, quality 49 out of 100. Rating: strongly overvalued. Calculated from audited financials with 20 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 27.40 TWD – 60.72 TWD · fair‑value band 7.64 TWD – 15.50 TWD · the 27.40 TWD price screens above the 9.34 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. As of Nov 7, 2026.
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Nankang Rubber Tire Corp.,Ltd., together with its subsidiaries, manufactures and sells tires and various rubber supplies in Taiwan, China, America, Europe, Asia, and internationally. The company operates through four segments: Tire-Taiwan; Tire-China; Construction Department; and Other.
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It offers motorsport, passenger, SUV and 4X4, winter, all season, light truck, bus and trailer, and motorcycle tires under the Nankang brand name. The company is also involved in asset management; reinvestment of other businesses; information collection and other tire transactions.
It exports its products. The company was incorporated in 1959 and is based in Taipei, Taiwan.
Stock analysis
Nankang Rubber Tire Corp Ltd (2101) currently trades at 27.40 TWD, while our model-based Fair Value estimate is 9.34 TWD, 66% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of 24.71 TWD per share, and 1 of the 19 models we run sit above the 27.40 TWD price.
Bear case: the Dividend Discount group reads lowest at 4.76 TWD, and 18 of the 19 models stay below the price. Data coverage for this calculation is low.
Scenario range: 7.64 TWD (bear) to 15.50 TWD (bull), the price of 27.40 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 49/100 (below-average quality), in the Consumer Cyclical sector.
Mixed Growth: Spin-off in 2012: revenue and profit before it include the divested business. Growth is measured afresh from 2012.
Nankang Rubber Tire Corp Ltd reported revenue of 8.4B TWD in FY2025 versus 8.1B TWD in FY2021, a compound +1.1%/yr. Reported net income was 810M TWD in FY2025.
Key figures
Market cap 19.8B TWD (≈ $604M) Small · P/E ratio 4.9 · P/S ratio 1.17 · EPS (TTM) 5.54 TWD · Dividend yield 2.6% · Net margin 24.4% · Return on equity 30.4% · Return on assets (EBIT) 1.7% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 78 out of 100 (low confidence).
What moves the price
The share trades about 29% below its 52-week high and at its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at −23% fair-value upside, at −66%, 2101 screens richer than that median.
Fair Value models
Bear7.64 TWDFair Value 9.34 TWDBull15.50 TWD
Price 27.40 TWD · Downside -65.9%
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 (4.14 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 2012: revenue and profit before it include the divested business. Growth is measured afresh from 2012.
Revenue growth 1 year
−44.6%
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.
+4.4%
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.
−2.8%
Start year 2020 (pandemic). Over 10 years: −2.5% a year
Revenue growth 13 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.
−3.6%
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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.
−3.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year−6.4%
Dividend (yield on the price)2.6%
Per share before 2012divided by the spin-off factor 1.235
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.−6.4% vs −0.9%, 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% → 7%
Pace: the 5-year rate starts in 2020 (pandemic)
⚠ Revenue per share shrinking 4.0%/yr over ~10Y (margins intact) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far.
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).
+20.2%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Taiwan: IMF forecast 1.6% a year to 2030, 1.5% from 2016 to 2025) that is about +18.3% a year for the price.
Compare Nankang Rubber Tire Corp Ltd with another stock
Price, fair value, quality and upside side by side.
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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.Auto Parts · 656 stocks
Beats the industry median on 8/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score49 · Below median
Fair Value upside−65.9% · Bottom 25%
Profitability
Return on equity (12 months)30.4% · Top 25%
Return on assets1.5% · Below median
Net margin (12 months)24.4% · Top 25%
Operating margin (12 months)34.2% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)211.2% · Top 25%
Dividend yield (12 months)2.6% · Above median
Balance sheet
Debt / equity1.09× · Highest 25%
Valuation Multiplesvs Auto Parts median · lower = cheaper
P/E (12 months)4.9× · Cheapest 25%
P/B1.56× · Pricier than median
P/S (12 months)1.17× · Pricier than median
Price / free cash flow (fiscal year)14.1× · Cheaper than median
EV/EBITDA5.6× · Cheaper than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 33
FUTURE (revenue growth)100· sector 34
PAST (return on equity)100· sector 31
HEALTH (low debt)45· sector 95
DIVIDEND (yield)51· sector 39
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Is Nankang Rubber Tire Corp Ltd (2101) overvalued or undervalued?
As of Nov 7, 2026, our model estimates a fair value of 9.34 TWD versus a price of 27.40 TWD, about 66% lower (overvalued).
What is the fair value of 2101?
Our model-based fair value for Nankang Rubber Tire Corp Ltd is 9.34 TWD (as of Nov 7, 2026), built from audited fundamentals. The current price: 27.40 TWD.
What is the quality score of 2101?
Nankang Rubber Tire Corp Ltd has a Quality Score of 49/100. 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 Nankang Rubber Tire Corp Ltd (2101)?
Our model-based price target is the fair value of 9.34 TWD (as of Nov 7, 2026) from 20 valuation models. Cautious scenario 7.64 TWD, optimistic scenario 15.50 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Nankang Rubber Tire Corp Ltd stock forecast for 2026?
Our models put fair value at 9.34 TWD, about 66% lower versus a price of 27.40 TWD (overvalued). Cautious scenario 7.64 TWD, optimistic scenario 15.50 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Nankang Rubber Tire Corp Ltd (2101)?
Nankang Rubber Tire Corp Ltd reported trailing-twelve-month revenue of about 17.0B TWD (latest available figure, as of Nov 7, 2026).
Does Nankang Rubber Tire Corp Ltd pay a dividend?
Nankang Rubber Tire Corp Ltd currently shows a dividend yield of 2.55% relative to its recent price (as of Nov 7, 2026).
How much is the dividend of Nankang Rubber Tire Corp Ltd (2101) and when is the ex-dividend date?
Nankang Rubber Tire Corp Ltd pays a dividend of 0.7 TWD per share a year, a dividend yield of 2.6%. The last ex-dividend date was Aug 28, 2026. The payout ratio is 12.6% of earnings. Free cash flow covers the dividend 2.78 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 Nankang Rubber Tire Corp Ltd (2101)?
For today's price to be fair in a discounted-cash-flow model, Nankang Rubber Tire Corp Ltd would have to grow free cash flow by +20.2 % per year for five years (discount rate 11.8 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -2.8 % per year. As of Nov 7, 2026.
What discount rate (WACC) does the fair value of 2101 use?
Our models discount Nankang Rubber Tire Corp Ltd at 11.8 %: a base by market capitalisation (small), 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 Nankang Rubber Tire Corp Ltd that is +20.2 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (11.8 %) and the same formula as our fair value.
How much growth has Nankang Rubber Tire Corp Ltd (2101) delivered so far?
Over the past 5 years revenue at Nankang Rubber Tire Corp Ltd grew -2.8 % a year. The price currently implies free-cash-flow growth of +20.2 % 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 Nankang Rubber Tire Corp Ltd (2101) growing?
The median revenue growth in the sector is +4.7 % a year. That is the yardstick for the growth priced into Nankang Rubber Tire Corp Ltd (+20.2 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Nankang Rubber Tire Corp Ltd (2101)?
The free-cash-flow yield on the price is 7.08 %: that much free cash flow Nankang Rubber Tire Corp Ltd produces per unit of market value. When it exceeds the discount rate of our models (11.8 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Nankang Rubber Tire Corp Ltd (2101)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Nankang Rubber Tire Corp Ltd it is 9.34 TWD per share (as of Nov 7, 2026), against a price of 27.40 TWD. It is the blended result of 20 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Nankang Rubber Tire Corp Ltd stock overvalued or undervalued in 2026?
As of Nov 7, 2026, 2101 trades above its calculated fair value: price 27.40 TWD, fair value 9.34 TWD, a gap of about −66% (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 2101?
No. The price is what the market pays today (27.40 TWD); the fair value is what the company's own numbers justify (9.34 TWD). For Nankang Rubber Tire Corp Ltd the two are 18.06 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Nankang Rubber Tire Corp Ltd worth?
The market values Nankang Rubber Tire Corp Ltd at about 19.8B TWD (market capitalisation, as of Nov 7, 2026). Per share that is 27.40 TWD; our models calculate a fair value of 9.34 TWD per share.
What do the bullish and bearish scenarios say about 2101?
Our models span a range for Nankang Rubber Tire Corp Ltd: cautious scenario 7.64 TWD, base 9.34 TWD, optimistic 15.50 TWD per share (as of Nov 7, 2026, price 27.40 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 2101?
Nankang Rubber Tire Corp Ltd trades at a price-to-earnings ratio of 4.9 (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 9.34 TWD is built from several models across several years. Other multiples: P/B 1.6, P/S 1.2, EV/EBITDA 5.6.
How solid is the balance sheet of Nankang Rubber Tire Corp Ltd (2101)?
Balance-sheet figures for Nankang Rubber Tire Corp Ltd (as of Nov 7, 2026): return on equity 30.4%, debt of 1.09 per unit of equity. They feed the Quality Score of 49/100, which measures business quality independently of the share price.
How far is 2101 from its 52-week high?
Nankang Rubber Tire Corp Ltd trades at 27.40 TWD, about 29% below its 52-week high of 38.67 TWD and at the low of 27.40 TWD (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 9.34 TWD is for.
Which stocks are comparable to Nankang Rubber Tire Corp Ltd?
From the same area (Consumer Cyclical) we also value O'Reilly Automotive, Inc, AutoZone, Inc, Hyundai Mobis Co, Fuyao Glass Industry Group, 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 Nankang Rubber Tire Corp Ltd stock attractive at the current price?
The data as of Nov 7, 2026: price 27.40 TWD, calculated fair value 9.34 TWD (−66%), Quality Score 49/100, from 20 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 2101 calculated?
We run Nankang Rubber Tire Corp Ltd through 20 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 9.34 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. Nankang Rubber Tire Corp 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 Nankang Rubber Tire Corp Ltd (2101)?
The closing price on Nov 6, 2026 was 27.40 TWD. Our model-based fair value is 9.34 TWD, about 66% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Nankang Rubber Tire Corp Ltd right now?
The price sits above even our optimistic bull case (15.50 TWD). The favourable scenario is already priced in. Weak quality (49/100) 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 (7.64 TWD to 15.50 TWD) leaves room in how you read the outcome.
Where does the earnings growth of Nankang Rubber Tire Corp Ltd (2101) come from?
Earnings per share at Nankang Rubber Tire Corp Ltd grew +6.5 % a year from 2014 to 2025. Broken into its drivers: revenue per share −0.9 %, EBIT margin +6.7 %, tax rate +2.5 %, residual (interest, one-offs) −1.8 %. 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 Nankang Rubber Tire Corp Ltd
How large is the market capitalisation of Nankang Rubber Tire Corp Ltd (2101)?
The market capitalisation of Nankang Rubber Tire Corp Ltd is 19.8B TWD (≈ $604M). 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 Nankang Rubber Tire Corp Ltd (2101)?
The price-to-sales ratio of Nankang Rubber Tire Corp Ltd is 1.17 (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 Nankang Rubber Tire Corp Ltd (2101)?
Earnings per share at Nankang Rubber Tire Corp Ltd are 5.54 TWD (price ÷ EPS = P/E 4.9). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Nankang Rubber Tire Corp Ltd (2101)?
The dividend yield of Nankang Rubber Tire Corp Ltd is 2.6% (payout 12.6%). 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 Nankang Rubber Tire Corp Ltd (2101)?
The net margin of Nankang Rubber Tire Corp Ltd is 24.4% (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 Nankang Rubber Tire Corp Ltd (2101)?
The return on equity (ROE) of Nankang Rubber Tire Corp Ltd is 30.4% (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 Nankang Rubber Tire Corp Ltd (2101)?
On an EBIT basis the return on assets of Nankang Rubber Tire Corp Ltd is 1.7% (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 Nankang Rubber Tire Corp Ltd (2101)?
The operating margin of Nankang Rubber Tire Corp Ltd is 34.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Nankang Rubber Tire Corp Ltd (2101)?
Revenue at Nankang Rubber Tire Corp Ltd is growing +211% versus a year earlier (3y avg +4.4%). 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 Nankang Rubber Tire Corp Ltd (2101)?
Earnings per share at Nankang Rubber Tire Corp Ltd are growing +442% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Nankang Rubber Tire Corp Ltd (2101) carry?
The net debt of Nankang Rubber Tire Corp Ltd is 17.9B TWD (fiscal year 2025, ≈ 12.8 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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Thin data
Nov 7, 2026