Lu Hai Holding Corp (2115) fair value: what the stock is really worth
As of Nov 9, 2026: fair value (intrinsic value) of Lu Hai Holding Corp stock TWD 31.46, price TWD 22.80, upside +38.0%, quality 59 out of 100. Rating: undervalued. 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 9, 2026.
How to read this chart
60‑month range 19.90 TWD – 38.07 TWD · fair‑value band 22.32 TWD – 40.89 TWD · the 22.80 TWD price screens below the 31.46 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 9, 2026.
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Luhai Holding Corp. engages in the production and sale of tire valves and accessories in China, Indonesia, and internationally.
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The company offers TPMS; valves for bicycles, electric bikes, motorcycles, passenger cars/light trucks, trucks/buses, and agricultural/OTR; and valve accessories, such as valve core, valve caps, hexagon nuts, washers, grommets and o-rings, rim nuts, and sleeves.
It also provides valve core and mounting tools; tire pressure detection products, including tire pressure and pen type tire pressure gauges; inflating equipment comprising air chucks, clip-on air chucks, and connectors; and rigid, bent, plastic, and flexible valve extensions, as well as holders.
In addition, it offers wheel balance weights and tools; tire repair accessories, such as skivers, stitchers, scrapers, repair tools, and tire repair units; and tire repair kits.
Further, the company engages in investment and leasing activities; and manufacturing and selling precision processed products. It serves manufacturers in the tires, automobiles, trucks, and agriculture vehicles industries.
Luhai Holding Corp. was founded in 1980 and is headquartered in Changhua, Taiwan.
Stock analysis
Lu Hai Holding Corp (2115) currently trades at 22.80 TWD, while our model-based Fair Value estimate is 31.46 TWD, implying the stock looks roughly 28% undervalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of 39.23 TWD per share, and 13 of the 24 models we run sit above the 22.80 TWD price.
Bear case: the Asset-Based group reads lowest at 8.14 TWD, and 11 of the 24 models stay below the price. Data coverage for this calculation is low.
Scenario range: 22.32 TWD (bear) to 40.89 TWD (bull), the price of 22.80 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 59/100 (solid quality), in the Consumer Cyclical sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Lu Hai Holding Corp reported revenue of 3.0B TWD in FY2025 versus 3.4B TWD in FY2021, a compound −3.2%/yr. Reported net income was 165M TWD in FY2025, compounding −19.8%/yr from FY2021.
Key figures
Market cap 2.4B TWD (≈ $72.6M) Micro · P/E ratio 14.4 · P/S ratio 0.75 · EPS (TTM) 1.58 TWD · Dividend yield 5.3% · Net margin 5.2% · Return on equity 5.2% · Return on assets (EBIT) 6.9% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 37 out of 100 (low confidence).
What moves the price
The share trades about 15% below its 52-week high and 15% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at −23% fair-value upside, at 38%, 2115 screens cheaper than that median.
Fair Value models
Bear22.32 TWDFair Value 31.46 TWDBull40.89 TWD
Price 22.80 TWD · Upside +38.0%
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 (0.3259 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.
Best data coverage
FCF DCF14.49 TWD17.64 TWD23.37 TWD82
Growth DCF14.79 TWD17.79 TWD22.78 TWD80
Owner Earnings15.81 TWD19.28 TWD25.59 TWD78
All 24 models by family
DCF Models
FCF DCF14.49 TWD17.64 TWD23.37 TWD82
Owner Earnings15.81 TWD19.28 TWD25.59 TWD78
5Y Revenue Exit18.67 TWD26.84 TWD39.10 TWD72
5Y EBITDA Exit27.29 TWD41.45 TWD60.76 TWD75
5Y P/E Exit19.78 TWD28.72 TWD39.72 TWD71
10Y Revenue Exit16.19 TWD22.30 TWD29.23 TWD68
10Y EBITDA Exit21.32 TWD30.73 TWD41.42 TWD69
10Y P/E Exit17.26 TWD23.39 TWD29.57 TWD65
Earnings-Based
Graham-Dodd10.77 TWD17.10 TWD20.56 TWD67
EPV13.21 TWD14.68 TWD15.90 TWD74
Dividend Discount
Gordon GGM10.99 TWD12.65 TWD14.35 TWD69
DDM Multi-Stage10.99 TWD13.57 TWD16.37 TWD67
Multiples
P/E Multiple26.14 TWD34.85 TWD43.56 TWD63
P/S Multiple20.20 TWD26.93 TWD33.66 TWD58
P/B Multiple92.13 TWD122.83 TWD153.54 TWD55
EV/EBIT32.62 TWD43.60 TWD54.58 TWD66
EV/EBITDA41.66 TWD55.66 TWD69.65 TWD67
EV/Revenue21.88 TWD31.40 TWD40.91 TWD53
Asset-Based
NCAV (Graham)5.37 TWD8.14 TWD10.17 TWD54
Growth DCF
Growth DCF14.79 TWD17.79 TWD22.78 TWD80
Rev-Margin DCF18.67 TWD27.18 TWD37.85 TWD73
Economic Profit
Residual Income22.19 TWD22.23 TWD23.00 TWD76
ROIC Compounder13.21 TWD14.68 TWD15.90 TWD72
Growth Earnings
Growth-Adj P/E18.42 TWD26.32 TWD34.21 TWD67
The fair value above starts from this blend and is adjusted for a cyclical trough year.
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.52/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−4.7%
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.
−0.7%
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.
+2.7%
Start year 2020 (pandemic). Over 10 years: +1.9% a year
Revenue growth 15 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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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.
−11.7%
Earnings growth per share plus dividend.
Earnings per share, growth per year−17.0%
Dividend (yield on the price)5.3%
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.−17.0% vs −4.2%, 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.32% → 9%
Pace: the 5-year rate starts in 2020 (pandemic)
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).
+9.4%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
Calculated on free cash flow for fiscal year 2025. Over the last twelve months it was negative, so the figure above is uncertain.
After inflation (Taiwan: IMF forecast 1.6% a year to 2030, 1.5% from 2016 to 2025) that is about +7.7% 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 10/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score59 · Above median
Fair Value upside+38.0% · Above median
Profitability
Return on equity (12 months)5.2% · Below median
Return on assets3.6% · Below median
Net margin (12 months)5.2% · Above median
Operating margin (12 months)9.2% · Above median
Growth and dividend
Revenue growth (quarter YoY)26.3% · Top 25%
Dividend yield (12 months)5.3% · Top 25%
Balance sheet
Debt / equity0.21× · Above median
Valuation Multiplesvs Auto Parts median · lower = cheaper
P/E (12 months)14.4× · Cheaper than median
P/B0.74× · Cheapest 25%
P/S (12 months)0.75× · Cheaper than median
Price / free cash flow (fiscal year)15.6× · Pricier than median
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Cite: Fair Value Calculator (2026). "Lu Hai Holding Corp Fair Value". https://www.fairvalue-calculator.com/stock/2115
Frequently asked questions
Is Lu Hai Holding Corp (2115) overvalued or undervalued?
As of Nov 9, 2026, our model estimates a fair value of 31.46 TWD versus a price of 22.80 TWD, about +38% upside (undervalued).
What is the fair value of 2115?
Our model-based fair value for Lu Hai Holding Corp is 31.46 TWD (as of Nov 9, 2026), built from audited fundamentals. The current price: 22.80 TWD.
What is the quality score of 2115?
Lu Hai Holding Corp has a Quality Score of 59/100. 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 Lu Hai Holding Corp (2115)?
Our model-based price target is the fair value of 31.46 TWD (as of Nov 9, 2026) from 24 valuation models. Cautious scenario 22.32 TWD, optimistic scenario 40.89 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Lu Hai Holding Corp stock forecast for 2026?
Our models put fair value at 31.46 TWD, about +38% upside versus a price of 22.80 TWD (undervalued). Cautious scenario 22.32 TWD, optimistic scenario 40.89 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Lu Hai Holding Corp (2115)?
Lu Hai Holding Corp reported trailing-twelve-month revenue of about 3.2B TWD (latest available figure, as of Nov 9, 2026).
Does Lu Hai Holding Corp pay a dividend?
Lu Hai Holding Corp currently shows a dividend yield of 5.26% relative to its recent price (as of Nov 9, 2026).
How much is the dividend of Lu Hai Holding Corp (2115) and when is the ex-dividend date?
Lu Hai Holding Corp pays a dividend of 1.20 TWD per share a year, a dividend yield of 5.3%. The last ex-dividend date was Jun 17, 2026. The payout ratio is 75.9% of earnings. Free cash flow covers the dividend 1.22 times. Our assessment: Sustainable. Payout and cash coverage both look sustainable.
What growth is priced into Lu Hai Holding Corp (2115)?
For today's price to be fair in a discounted-cash-flow model, Lu Hai Holding Corp would have to grow free cash flow by +9.4 % 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 +2.7 % per year. Calculated on free cash flow for fiscal year 2025. Over the last twelve months it was negative, so the figure above is uncertain. As of Nov 9, 2026.
What discount rate (WACC) does the fair value of 2115 use?
Our models discount Lu Hai Holding Corp at 11.8 %: a base by market capitalisation (micro), damped by beta 0.20, 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 Lu Hai Holding Corp that is +9.4 % 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 Lu Hai Holding Corp (2115) delivered so far?
Over the past 5 years revenue at Lu Hai Holding Corp grew +2.7 % a year. The price currently implies free-cash-flow growth of +9.4 % 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 Lu Hai Holding Corp (2115) growing?
The median revenue growth in the sector is +4.7 % a year. That is the yardstick for the growth priced into Lu Hai Holding Corp (+9.4 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Lu Hai Holding Corp (2115)?
The free-cash-flow yield on the price is 6.56 % in the last fiscal year (free cash flow was negative over the last twelve months): that much free cash flow Lu Hai Holding Corp 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 Lu Hai Holding Corp (2115)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Lu Hai Holding Corp it is 31.46 TWD per share (as of Nov 9, 2026), against a price of 22.80 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 Lu Hai Holding Corp stock overvalued or undervalued in 2026?
As of Nov 9, 2026, 2115 trades below its calculated fair value: price 22.80 TWD, fair value 31.46 TWD, a gap of about +38% (undervalued). 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 2115?
No. The price is what the market pays today (22.80 TWD); the fair value is what the company's own numbers justify (31.46 TWD). For Lu Hai Holding Corp the two are 8.66 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Lu Hai Holding Corp worth?
The market values Lu Hai Holding Corp at about 2.4B TWD (market capitalisation, as of Nov 9, 2026). Per share that is 22.80 TWD; our models calculate a fair value of 31.46 TWD per share.
What do the bullish and bearish scenarios say about 2115?
Our models span a range for Lu Hai Holding Corp: cautious scenario 22.32 TWD, base 31.46 TWD, optimistic 40.89 TWD per share (as of Nov 9, 2026, price 22.80 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 2115?
Lu Hai Holding Corp trades at a price-to-earnings ratio of 14.4 (as of Nov 9, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 31.46 TWD is built from several models across several years. Other multiples: P/B 0.7, P/S 0.8, EV/EBITDA 4.7.
How solid is the balance sheet of Lu Hai Holding Corp (2115)?
Balance-sheet figures for Lu Hai Holding Corp (as of Nov 9, 2026): return on equity 5.2%, debt of 0.21 per unit of equity. They feed the Quality Score of 59/100, which measures business quality independently of the share price.
How far is 2115 from its 52-week high?
Lu Hai Holding Corp trades at 22.80 TWD, about 15% below its 52-week high of 26.95 TWD and 15% above the low of 19.90 TWD (as of Nov 9, 2026). Distance from the high says nothing about value: that is what the fair value of 31.46 TWD is for.
Which stocks are comparable to Lu Hai Holding Corp?
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 Lu Hai Holding Corp stock attractive at the current price?
The data as of Nov 9, 2026: price 22.80 TWD, calculated fair value 31.46 TWD (+38%), Quality Score 59/100, 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 2115 calculated?
We run Lu Hai Holding Corp 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 31.46 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. Lu Hai Holding Corp currently trades 28% below its own fair value, and the market average says nothing about that. 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 Lu Hai Holding Corp (2115)?
The closing price on Nov 9, 2026 was 22.80 TWD. Our model-based fair value is 31.46 TWD, about +38% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Lu Hai Holding Corp right now?
The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid quality (59/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (22.32 TWD to 40.89 TWD) leaves room in how you read the outcome.
Where does the earnings growth of Lu Hai Holding Corp (2115) come from?
Earnings per share at Lu Hai Holding Corp grew −4.0 % a year from 2014 to 2025. Broken into its drivers: revenue per share +1.3 %, EBIT margin −4.0 %, tax rate −2.6 %, residual (interest, one-offs) +1.4 %. 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 Lu Hai Holding Corp
How large is the market capitalisation of Lu Hai Holding Corp (2115)?
The market capitalisation of Lu Hai Holding Corp is 2.4B TWD (≈ $72.6M). 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 Lu Hai Holding Corp (2115)?
The price-to-sales ratio of Lu Hai Holding Corp is 0.75 (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 Lu Hai Holding Corp (2115)?
Earnings per share at Lu Hai Holding Corp are 1.58 TWD (price ÷ EPS = P/E 14.4). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Lu Hai Holding Corp (2115)?
The dividend yield of Lu Hai Holding Corp is 5.3% (payout 75.9%). 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 Lu Hai Holding Corp (2115)?
The net margin of Lu Hai Holding Corp is 5.2% (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 Lu Hai Holding Corp (2115)?
The return on equity (ROE) of Lu Hai Holding Corp is 5.2% (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 Lu Hai Holding Corp (2115)?
On an EBIT basis the return on assets of Lu Hai Holding Corp is 6.9% (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 Lu Hai Holding Corp (2115)?
The operating margin of Lu Hai Holding Corp is 9.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Lu Hai Holding Corp (2115)?
Revenue at Lu Hai Holding Corp is growing +26.3% versus a year earlier (3y avg −0.7%). 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 Lu Hai Holding Corp (2115)?
Earnings per share at Lu Hai Holding Corp are growing +46.9% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Lu Hai Holding Corp (2115) carry?
The net debt of Lu Hai Holding Corp is 33.7M TWD (fiscal year 2025, ≈ 0.2 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 9, 2026