Hsin Yung Chien Co Ltd (2114) fair value: what the stock is really worth
As of Nov 9, 2026: fair value (intrinsic value) of Hsin Yung Chien Co Ltd stock TWD 80.28, price TWD 88.70, that is 9.5% below the price, quality 80 out of 100. Rating: overvalued. Calculated from audited financials with 24 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 6, 2026.
How to read this chart
60‑month range 79.20 TWD – 136.27 TWD · fair‑value band 63.44 TWD – 103.31 TWD · the 88.70 TWD price screens above the 80.28 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 6, 2026.
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Hsin Yung Chien Co., Ltd. manufactures and sells rubber conveyor belts in Taiwan and internationally.
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The company's product portfolio includes transmission belts; rubber sheets; inflatable rubber dam products; straight warp, chevron, and kevlar conveyor belts; specialty conveyor belts, including heat, oil, flame, abrasion, cold, bucket elevator and chemical resistant conveyor belts; light duty conveyor belts, such as rough top, impression, bare bottom, bare and bare, diamond, and thin cover and cover belts; steel cord conveyor belts, including general, RIP stop, and special steel cord belts, as well as IW steel mesh conveyor belts; and pipe, rip stop, side wall, and EP/NN conveyor belts, as well as seal belts and bucket elevator belts under the KING brand.
Its conveyor belts are used in green energy hydropower, mining, steel, power plant, aviation, transportation, agriculture, logistics, and manufacturing industries. The company also provides hot-pressing cushion pads under the Silieet brand name.
In addition, it offers composite products, such as thermoplastic carbon bike frames and rims, as well as carbon fiber thermoplastic reinforced composite materials for car parts, bicycle parts, and customer goods under the Newsheet brand name.
The company was formerly known as Hsin Yung Chien Industrial Co., Ltd. and changed its name to Hsin Yung Chien Co., Ltd. in 2003. Hsin Yung Chien Co., Ltd. was founded in 1964 and is based in Nantou City, Taiwan.
Stock analysis
Hsin Yung Chien Co Ltd (2114) currently trades at 88.70 TWD, while our model-based Fair Value estimate is 80.28 TWD, 9% 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 103.84 TWD per share, and 7 of the 24 models we run sit above the 88.70 TWD price.
Bear case: the Asset-Based group reads lowest at 22.15 TWD, and 17 of the 24 models stay below the price. Data coverage for this calculation is high.
Scenario range: 63.44 TWD (bear) to 103.31 TWD (bull), the price of 88.70 TWD sits inside 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 80/100 (high 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.
Hsin Yung Chien Co Ltd reported revenue of 1.6B TWD in FY2025 versus 1.9B TWD in FY2021, a compound −4.7%/yr. Reported net income was 451M TWD in FY2025, compounding −17.4%/yr from FY2021.
Key figures
Market cap 6.9B TWD (≈ $211M) Micro · P/E ratio 14.2 · P/S ratio 4.19 · EPS (TTM) 6.25 TWD · Dividend yield 5.6% · Net margin 29.5% · Return on equity 16.4% · Return on assets (EBIT) 16.4% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 80 out of 100 (low confidence).
What moves the price
The share trades about 6% below its 52-week high and 3% above 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 −9%, 2114 screens cheaper than that median.
Fair Value models
Bear63.44 TWDFair Value 80.28 TWDBull103.31 TWD
Price 88.70 TWD · Downside -9.5%
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 (1.07 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.40/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+8.9%
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.
−4.7%
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.
+0.0%
Start year 2020 (pandemic). Over 10 years: −1.4% a year
Revenue growth 21 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.
+1.8%
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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.
+2.7%
Earnings growth per share plus dividend.
Earnings per share, growth per year−2.9%
Dividend (yield on the price)5.6%
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.−2.9% vs 0.8%, 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.39% → 31%
Pace: the 5-year rate starts in 2020 (pandemic)
⚠ Revenue per share shrinking 1.6%/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
Price in line with expectations
The price assumes about as much growth as 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).
−0.2%
The company could shrink this much every year for the next five years and today's price would still be justified.
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 −1.8% a year for the price.
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 · 655 stocks
Beats the industry median on 9/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score80 · Top 25%
Fair Value upside−9.5% · Below median
Profitability
Return on equity (12 months)16.4% · Top 25%
Return on assets11.9% · Top 25%
Net margin (12 months)29.5% · Top 25%
Operating margin (12 months)30.8% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)6.4% · Below median
Dividend yield (12 months)5.6% · Top 25%
Balance sheet
Debt / equity0.06× · Below median
Valuation Multiplesvs Auto Parts median · lower = cheaper
P/E (12 months)14.2× · Cheaper than median
P/B2.19× · Pricier than median
P/S (12 months)4.19× · Priciest 25%
Price / free cash flow (fiscal year)12.0× · Cheaper than median
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.
Cite: Fair Value Calculator (2026). "Hsin Yung Chien Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/2114
Frequently asked questions
Is Hsin Yung Chien Co Ltd (2114) overvalued or undervalued?
As of Nov 6, 2026, our model estimates a fair value of 80.28 TWD versus a price of 88.70 TWD, about 9% lower (overvalued).
What is the fair value of 2114?
Our model-based fair value for Hsin Yung Chien Co Ltd is 80.28 TWD (as of Nov 6, 2026), built from audited fundamentals. The current price: 88.70 TWD.
What is the quality score of 2114?
Hsin Yung Chien Co Ltd has a Quality Score of 80/100. 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 Hsin Yung Chien Co Ltd (2114)?
Our model-based price target is the fair value of 80.28 TWD (as of Nov 6, 2026) from 24 valuation models. Cautious scenario 63.44 TWD, optimistic scenario 103.31 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Hsin Yung Chien Co Ltd stock forecast for 2026?
Our models put fair value at 80.28 TWD, about 9% lower versus a price of 88.70 TWD (overvalued). Cautious scenario 63.44 TWD, optimistic scenario 103.31 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Hsin Yung Chien Co Ltd (2114)?
Hsin Yung Chien Co Ltd reported trailing-twelve-month revenue of about 1.7B TWD (latest available figure, as of Nov 6, 2026).
Does Hsin Yung Chien Co Ltd pay a dividend?
Hsin Yung Chien Co Ltd currently shows a dividend yield of 5.64% relative to its recent price (as of Nov 6, 2026).
How much is the dividend of Hsin Yung Chien Co Ltd (2114) and when is the ex-dividend date?
Hsin Yung Chien Co Ltd pays a dividend of 5.00 TWD per share a year, a dividend yield of 5.6%. The last ex-dividend date was Jun 9, 2026. The payout ratio is 80.0% of earnings. Free cash flow covers the dividend 1.49 times. Our assessment: Sustainable. Payout and cash coverage both look sustainable.
What growth is priced into Hsin Yung Chien Co Ltd (2114)?
For today's price to be fair in a discounted-cash-flow model, Hsin Yung Chien Co Ltd would have to grow free cash flow by -0.2 % 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 +0.0 % per year. As of Nov 6, 2026.
What discount rate (WACC) does the fair value of 2114 use?
Our models discount Hsin Yung Chien Co Ltd at 11.8 %: a base by market capitalisation (micro), damped by beta 0.17, 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 Hsin Yung Chien Co Ltd that is -0.2 % 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 Hsin Yung Chien Co Ltd (2114) delivered so far?
Over the past 5 years revenue at Hsin Yung Chien Co Ltd grew +0.0 % a year. The price currently implies free-cash-flow growth of -0.2 % 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 Hsin Yung Chien Co Ltd (2114) growing?
The median revenue growth in the sector is +7.8 % a year. That is the yardstick for the growth priced into Hsin Yung Chien Co Ltd (-0.2 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Hsin Yung Chien Co Ltd (2114)?
The free-cash-flow yield on the price is 8.37 %: that much free cash flow Hsin Yung Chien Co 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 Hsin Yung Chien Co Ltd (2114)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Hsin Yung Chien Co Ltd it is 80.28 TWD per share (as of Nov 6, 2026), against a price of 88.70 TWD. It is the blended result of 24 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Hsin Yung Chien Co Ltd stock overvalued or undervalued in 2026?
As of Nov 6, 2026, 2114 trades above its calculated fair value: price 88.70 TWD, fair value 80.28 TWD, a gap of about −9% (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 2114?
No. The price is what the market pays today (88.70 TWD); the fair value is what the company's own numbers justify (80.28 TWD). For Hsin Yung Chien Co Ltd the two are 8.42 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Hsin Yung Chien Co Ltd worth?
The market values Hsin Yung Chien Co Ltd at about 6.9B TWD (market capitalisation, as of Nov 6, 2026). Per share that is 88.70 TWD; our models calculate a fair value of 80.28 TWD per share.
What do the bullish and bearish scenarios say about 2114?
Our models span a range for Hsin Yung Chien Co Ltd: cautious scenario 63.44 TWD, base 80.28 TWD, optimistic 103.31 TWD per share (as of Nov 6, 2026, price 88.70 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 2114?
Hsin Yung Chien Co Ltd trades at a price-to-earnings ratio of 14.2 (as of Nov 6, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 80.28 TWD is built from several models across several years. Median P/E at fiscal year-end, 5 fiscal years (2021 to 2025), reported earnings: 18.0. Other multiples: P/B 2.2, P/S 4.2, EV/EBITDA 10.5.
How solid is the balance sheet of Hsin Yung Chien Co Ltd (2114)?
Balance-sheet figures for Hsin Yung Chien Co Ltd (as of Nov 6, 2026): return on equity 16.4%, debt of 0.06 per unit of equity. They feed the Quality Score of 80/100, which measures business quality independently of the share price.
How far is 2114 from its 52-week high?
Hsin Yung Chien Co Ltd trades at 88.70 TWD, about 6% below its 52-week high of 94.40 TWD and 3% above the low of 86.51 TWD (as of Nov 9, 2026). Distance from the high says nothing about value: that is what the fair value of 80.28 TWD is for.
Which stocks are comparable to Hsin Yung Chien Co 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 Hsin Yung Chien Co Ltd stock attractive at the current price?
The data as of Nov 6, 2026: price 88.70 TWD, calculated fair value 80.28 TWD (−9%), Quality Score 80/100, from 24 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 2114 calculated?
We run Hsin Yung Chien Co Ltd through 24 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 80.28 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 13.3% above its aggregate fair value. Hsin Yung Chien 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 Hsin Yung Chien Co Ltd (2114)?
The closing price on Nov 9, 2026 was 88.70 TWD. Our model-based fair value is 80.28 TWD, about 9% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Hsin Yung Chien Co Ltd right now?
The price sits in the upper half of our model range, so the margin of safety is thin. The data supports the verdict: every model runs on fully documented inputs.
Where does the earnings growth of Hsin Yung Chien Co Ltd (2114) come from?
Earnings per share at Hsin Yung Chien Co Ltd grew +0.5 % a year from 2014 to 2025. Broken into its drivers: revenue per share −2.0 %, EBIT margin +1.8 %, tax rate −0.2 %, residual (interest, one-offs) +0.8 %. 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 Hsin Yung Chien Co Ltd
How large is the market capitalisation of Hsin Yung Chien Co Ltd (2114)?
The market capitalisation of Hsin Yung Chien Co Ltd is 6.9B TWD (≈ $211M). 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 Hsin Yung Chien Co Ltd (2114)?
The price-to-sales ratio of Hsin Yung Chien Co Ltd is 4.19 (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 Hsin Yung Chien Co Ltd (2114)?
Earnings per share at Hsin Yung Chien Co Ltd are 6.25 TWD (price ÷ EPS = P/E 14.2). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Hsin Yung Chien Co Ltd (2114)?
The dividend yield of Hsin Yung Chien Co Ltd is 5.6% (payout 80.0%). 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 Hsin Yung Chien Co Ltd (2114)?
The net margin of Hsin Yung Chien Co Ltd is 29.5% (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 Hsin Yung Chien Co Ltd (2114)?
The return on equity (ROE) of Hsin Yung Chien Co Ltd is 16.4% (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 Hsin Yung Chien Co Ltd (2114)?
On an EBIT basis the return on assets of Hsin Yung Chien Co Ltd is 16.4% (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 Hsin Yung Chien Co Ltd (2114)?
The operating margin of Hsin Yung Chien Co Ltd is 30.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Hsin Yung Chien Co Ltd (2114)?
Revenue at Hsin Yung Chien Co Ltd is growing +6.4% versus a year earlier (3y avg −4.7%). 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 Hsin Yung Chien Co Ltd (2114)?
Earnings per share at Hsin Yung Chien Co Ltd are growing +45.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Hsin Yung Chien Co Ltd (2114) hold?
Hsin Yung Chien Co Ltd holds more cash than debt, 240M TWD net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Broad data
Nov 6, 2026