Nankang Rubber Tire Corp Ltd (2101) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Nankang Rubber Tire Corp Ltd TWD 14.22, price TWD 29.85, upside -52.4%, quality 37 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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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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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. 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 29.85 TWD, while our model-based Fair Value estimate is 14.22 TWD, implying the stock looks roughly 109.9% overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 18.67 TWD per share, and 0 of the 21 models we run sit above the 29.85 TWD price.
Bear case: the Growth DCF group reads lowest at 3.96 TWD, and 21 of the 21 models stay below the price. Evidence for this calculation is low.
Scenario range: 7.86 TWD (bear) to 17.79 TWD (bull), the price of 29.85 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 37/100 (below-average quality), in the Consumer Cyclical sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
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 23.9B TWD (≈ $751M) · P/E ratio 29.6 · P/S ratio 2.84 · EPS (TTM) 1.01 TWD · Dividend yield 2.3% · Net margin 9.6% · Return on equity 16.9% · Return on assets (EBIT) 1.7%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).
What moves the price
The share trades about 24% 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 −38% fair-value upside, at −52%, 2101 screens richer than that median.
Fair Value models
Bear 7.86 TWDFair Value 14.22 TWDBull 17.79 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. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (0.2268 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.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.
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.40/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
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 25 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.
+3.1%
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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.
−4.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year−6.4%
Dividend (yield on the price)2.3%
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% vs −1%, 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%
Start year 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).
+17.1%
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 +15.3% 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 · 663 stocks
Beats the industry median on 6/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score37 · Bottom 25%
Fair Value upside−52% · Bottom 25%
Profitability
Return on equity (TTM)17% · Top 25%
Return on assets3% · Below median
Net margin (TTM)19% · Top 25%
Operating margin (TTM)30% · Top 25%
Growth and dividend
Revenue growth162% · Top 25%
Dividend yield (TTM)2.3% · Above median
Balance sheet
Debt / equity1.09× · Highest 25%
Valuation Multiplesvs Auto Parts median · lower = cheaper
P/E (TTM)29.6× · Pricier than median
P/B1.89× · Pricier than median
P/S (TTM)2.03× · Pricier than median
P/FCF0.5× · Cheaper than median
EV/EBITDA12.0× · Pricier than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 24
FUTURE (revenue growth)100· sector 21
PAST (return on equity)67· sector 26
HEALTH (low debt)45· sector 95
DIVIDEND (yield)47· sector 35
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 Sep 23, 2026, our model estimates a fair value of 14.22 TWD versus a price of 29.85 TWD, about −52% upside (overvalued).
What is the fair value of 2101?
Our model-based fair value for Nankang Rubber Tire Corp Ltd is 14.22 TWD (as of Sep 23, 2026), built from audited fundamentals. The current price: 29.85 TWD.
What is the quality score of 2101?
Nankang Rubber Tire Corp Ltd has a Quality Score of 37/100. 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 14.22 TWD (as of Sep 23, 2026) from 22 valuation models. Cautious scenario 7.86 TWD, optimistic scenario 17.79 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 14.22 TWD, about −52% upside versus a price of 29.85 TWD (overvalued). Cautious scenario 7.86 TWD, optimistic scenario 17.79 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 11.8B TWD (latest available figure, as of Sep 23, 2026).
Does Nankang Rubber Tire Corp Ltd pay a dividend?
Nankang Rubber Tire Corp Ltd currently shows a dividend yield of about 2.35% relative to its recent price (as of Sep 23, 2026).
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 +17.1 % per year for five years (discount rate 9.8 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -2.8 % per year. As of Sep 23, 2026.
What discount rate (WACC) does the fair value of 2101 use?
Our models discount Nankang Rubber Tire Corp Ltd at 9.8 %: a base by market capitalisation (large), 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 +17.1 % per year a year over ten years, using the same discount rate (9.8 %) 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 +17.1 % per year free-cash-flow growth a 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 +2.5 % a year. That is the yardstick for the growth priced into Nankang Rubber Tire Corp Ltd (+17.1 % per year a 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 5.86 %: 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 (9.8 %), 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 14.22 TWD per share (as of Sep 23, 2026), against a price of 29.85 TWD. It is the blended result of 22 valuation models (cash flow, earnings, asset, dividend).
Is Nankang Rubber Tire Corp Ltd stock overvalued or undervalued in 2026?
As of Sep 23, 2026, 2101 trades above its calculated fair value: price 29.85 TWD, fair value 14.22 TWD, a gap of about −52% (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 (29.85 TWD); the fair value is what the company's own numbers justify (14.22 TWD). For Nankang Rubber Tire Corp Ltd the two are 15.63 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 23.9B TWD (market capitalisation, as of Sep 23, 2026). Per share that is 29.85 TWD; our models calculate a fair value of 14.22 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 7.86 TWD, base 14.22 TWD, optimistic 17.79 TWD per share (as of Sep 23, 2026, price 29.85 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 29.6 (as of Sep 23, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 14.22 TWD is built from several models across several years. Other multiples: P/B 1.9, P/S 2.0, EV/EBITDA 12.0.
How solid is the balance sheet of Nankang Rubber Tire Corp Ltd (2101)?
Balance-sheet figures for Nankang Rubber Tire Corp Ltd (as of Sep 23, 2026): return on equity 16.9%, debt of 1.09 per unit of equity. They feed the Quality Score of 37/100, 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 29.85 TWD, about 24% below its 52-week high of 39.40 TWD and at the low of 29.75 TWD (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 14.22 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 Sep 23, 2026: price 29.85 TWD, calculated fair value 14.22 TWD (−52%), Quality Score 37/100, from 22 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 22 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 14.22 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 14.1 % 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 Sep 24, 2026 was 29.85 TWD. Our model-based fair value is 14.22 TWD, about −52% upside (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 (17.79 TWD). The favourable scenario is already priced in. Weak quality (37/100) 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 (7.86 TWD to 17.79 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 23.9B TWD (≈ $751M). 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 2.84 (P/E × margin). 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 1.01 TWD (price ÷ EPS = P/E 29.6). 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 2.3% (payout 69.3%). 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 9.6% (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 Nankang Rubber Tire Corp Ltd (2101)?
The return on equity (ROE) of Nankang Rubber Tire Corp Ltd is 16.9% (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 30.4% (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 +162% 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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