Yulon Motor Co Ltd (2201) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Yulon Motor Co Ltd TWD 39.78, price TWD 29.25, upside +36.0%, quality 37 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Yulon Motor Company Ltd. manufactures and markets automobiles and related products in Taiwan, China, and internationally. It operates through Brand Department, Cooperation Department, Level System, Taiwan Passage System, China Access System, and Others segments.
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Yulon Motor Company Ltd. manufactures and markets automobiles and related products in Taiwan, China, and internationally. It operates through Brand Department, Cooperation Department, Level System, Taiwan Passage System, China Access System, and Others segments. The company manufactures, imports, exports, sells, maintains, repairs, leases, and trades in automobiles and related materials; manages a basketball team; electric vehicles, automobile components, automotive interior, and car seats; and provides investment, general advertising planning, labor, product design, energy technology , towing and lifting, taxi passenger transport, property insurance, real estate leasing, management consulting, and factory leasing services. It also engages in the sale and brokerage of used vehicles; provision of financing and leasing services; design, manufacture, and sales of automotive molds, various industrial models, fixtures, automotive sheet metal parts, and various inspection tools; and sale, maintenance, and repair of heavy vehicles. In addition, the company provides information software, and information processing services; consumable commodity installment business; consulting services on automotive, electronics, and textiles industry; and computer software services and computer-related businesses. The company was formerly known as Yulon Machinery Manufacturing Co., Ltd. and changed its name to Yulon Motor Company Ltd. in September 1960. Yulon Motor Company Ltd. was incorporated in 1953 and is based in Miaoli, Taiwan.
Stock analysis
Yulon Motor Co Ltd (2201) currently trades at 29.25 TWD, while our model-based Fair Value estimate is 39.78 TWD, implying the stock looks roughly 26.5% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 170.36 TWD per share, and 19 of the 26 models we run sit above the 29.25 TWD price.
Bear case: the Earnings-Based group reads lowest at 10.29 TWD, and 7 of the 26 models stay below the price. Evidence for this calculation is low.
Scenario range: 39.78 TWD (bear) to 40.24 TWD (bull), the price of 29.25 TWD sits below 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 is shrinking: the last year, the last three and the last five years are all negative.
Yulon Motor Co Ltd reported revenue of 72.4B TWD in FY2025 versus 78.0B TWD in FY2021, a compound −1.9%/yr. Reported net income was 979M TWD in FY2025, compounding −40.4%/yr from FY2021.
Key figures
Market cap 30.1B TWD (≈ $944M) · P/E ratio 31.5 · P/S ratio 0.43 · EPS (TTM) 0.9300 TWD · Dividend yield 10.5% · Net margin 1.4% · Return on equity 3.7% · Return on assets (EBIT) 2.4%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 32 out of 100 (medium confidence).
What moves the price
The share trades about 33% below its 52-week high and 11% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at −4% fair-value upside, at 36%, 2201 screens cheaper than that median.
Fair Value models
Bear 39.78 TWDFair Value 39.78 TWDBull 40.24 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 (0.6803 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 is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−15.6%
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.
−2.1%
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.
−2.6%
Start year 2020 (pandemic). Over 10 years: −5.1% 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.
+1.5%
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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.
−37.0%
Earnings growth per share plus dividend.
Earnings per share, growth per year−47.5%
Dividend (yield on the price)10.5%
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.−48% vs −20%, 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.14% → 8%
Start year 2020 (pandemic)
⚠ Revenue per share shrinking 5.2%/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).
+11.5%
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 +9.8% 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 Manufacturers · 116 stocks
Beats the industry median on 9/15 measures
Overall it ranks above its industry peers.
Valuation
Quality Score37 · Bottom 25%
Fair Value upside+36% · Above median
Profitability
Return on equity (TTM)4% · Below median
Return on assets1% · Below median
Net margin (TTM)1% · Below median
Operating margin (TTM)9% · Top 25%
Growth and dividend
Revenue growth−4% · Below median
Dividend yield (TTM)10.5% · Top 25%
Balance sheet
Debt / equity0.14× · Below median
Valuation Multiplesvs Auto Manufacturers median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Yulon Motor Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/2201
Frequently asked questions
Is Yulon Motor Co Ltd (2201) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 39.78 TWD versus a price of 29.25 TWD, about +36% upside (undervalued).
What is the fair value of 2201?
Our model-based fair value for Yulon Motor Co Ltd is 39.78 TWD (as of Sep 24, 2026), built from audited fundamentals. The current price: 29.25 TWD.
What is the quality score of 2201?
Yulon Motor Co 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 Yulon Motor Co Ltd (2201)?
Our model-based price target is the fair value of 39.78 TWD (as of Sep 24, 2026) from 26 valuation models. Cautious scenario 39.78 TWD, optimistic scenario 40.24 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Yulon Motor Co Ltd stock forecast for 2026?
Our models put fair value at 39.78 TWD, about +36% upside versus a price of 29.25 TWD (undervalued). Cautious scenario 39.78 TWD, optimistic scenario 40.24 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Yulon Motor Co Ltd (2201)?
Yulon Motor Co Ltd reported trailing-twelve-month revenue of about 71.7B TWD (latest available figure, as of Sep 24, 2026).
Does Yulon Motor Co Ltd pay a dividend?
Yulon Motor Co Ltd currently shows a dividend yield of about 10.55% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Yulon Motor Co Ltd (2201)?
For today's price to be fair in a discounted-cash-flow model, Yulon Motor Co Ltd would have to grow free cash flow by +11.5 % per year for five years (discount rate 10.4 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -2.6 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 2201 use?
Our models discount Yulon Motor Co Ltd at 10.4 %: a base by market capitalisation (small), damped by beta 0.54, 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 Yulon Motor Co Ltd that is +11.5 % per year a year over ten years, using the same discount rate (10.4 %) and the same formula as our fair value.
How much growth has Yulon Motor Co Ltd (2201) delivered so far?
Over the past 5 years revenue at Yulon Motor Co Ltd grew -2.6 % a year. The price currently implies +11.5 % 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 Yulon Motor Co Ltd (2201) growing?
The median revenue growth in the sector is +2.6 % a year. That is the yardstick for the growth priced into Yulon Motor Co Ltd (+11.5 % 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 Yulon Motor Co Ltd (2201)?
The free-cash-flow yield on the price is 14.43 %: that much free cash flow Yulon Motor Co Ltd produces per unit of market value. When it exceeds the discount rate of our models (10.4 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Yulon Motor Co Ltd (2201)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Yulon Motor Co Ltd it is 39.78 TWD per share (as of Sep 24, 2026), against a price of 29.25 TWD. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is Yulon Motor Co Ltd stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 2201 trades below its calculated fair value: price 29.25 TWD, fair value 39.78 TWD, a gap of about +36% (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 2201?
No. The price is what the market pays today (29.25 TWD); the fair value is what the company's own numbers justify (39.78 TWD). For Yulon Motor Co Ltd the two are 10.53 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Yulon Motor Co Ltd worth?
The market values Yulon Motor Co Ltd at about 30.1B TWD (market capitalisation, as of Sep 24, 2026). Per share that is 29.25 TWD; our models calculate a fair value of 39.78 TWD per share.
What do the bullish and bearish scenarios say about 2201?
Our models span a range for Yulon Motor Co Ltd: cautious scenario 39.78 TWD, base 39.78 TWD, optimistic 40.24 TWD per share (as of Sep 24, 2026, price 29.25 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 2201?
Yulon Motor Co Ltd trades at a price-to-earnings ratio of 31.5 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 39.78 TWD is built from several models across several years. Other multiples: PEG 0.3, P/B 0.5, P/S 0.4, EV/EBITDA 2.0.
What is the PEG ratio of 2201?
The PEG ratio of Yulon Motor Co Ltd is 0.25 (P/E divided by earnings growth, as of Sep 24, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Yulon Motor Co Ltd (2201)?
Balance-sheet figures for Yulon Motor Co Ltd (as of Sep 24, 2026): return on equity 3.7%, debt of 0.14 per unit of equity. They feed the Quality Score of 37/100, which measures business quality independently of the share price.
How far is 2201 from its 52-week high?
Yulon Motor Co Ltd trades at 29.25 TWD, about 33% below its 52-week high of 43.35 TWD and 11% above the low of 26.35 TWD (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 39.78 TWD is for.
Which stocks are comparable to Yulon Motor Co Ltd?
From the same area (Consumer Cyclical) we also value Tesla, Inc, Toyota Motor Corporation, BYD Company, Hyundai Motor Company, 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 Yulon Motor Co Ltd stock attractive at the current price?
The data as of Sep 24, 2026: price 29.25 TWD, calculated fair value 39.78 TWD (+36%), Quality Score 37/100, from 26 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 2201 calculated?
We run Yulon Motor Co Ltd through 26 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 39.78 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. Yulon Motor Co Ltd currently trades 36 % 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 Yulon Motor Co Ltd (2201)?
The closing price on Sep 24, 2026 was 29.25 TWD. Our model-based fair value is 39.78 TWD, about +36% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Yulon Motor Co Ltd right now?
The large discount to fair value meets weak quality (37/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case (39.78 TWD). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. The models converge in a tight band (39.78 TWD to 40.24 TWD), unusually little disagreement for a valuation.
Where does the earnings growth of Yulon Motor Co Ltd (2201) come from?
Earnings per share at Yulon Motor Co Ltd grew −4.7 % a year from 2014 to 2025. Broken into its drivers: revenue per share −12.0 %, EBIT margin +34.1 %, tax rate −1.8 %, residual (interest, one-offs) −17.7 %. 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 Yulon Motor Co Ltd
How large is the market capitalisation of Yulon Motor Co Ltd (2201)?
The market capitalisation of Yulon Motor Co Ltd is 30.1B TWD (≈ $944M). 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 Yulon Motor Co Ltd (2201)?
The price-to-sales ratio of Yulon Motor Co Ltd is 0.43 (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 Yulon Motor Co Ltd (2201)?
Earnings per share at Yulon Motor Co Ltd are 0.9300 TWD (price ÷ EPS = P/E 31.5). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Yulon Motor Co Ltd (2201)?
The dividend yield of Yulon Motor Co Ltd is 10.5%. 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 Yulon Motor Co Ltd (2201)?
The net margin of Yulon Motor Co Ltd is 1.4% (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 Yulon Motor Co Ltd (2201)?
The return on equity (ROE) of Yulon Motor Co Ltd is 3.7% (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 Yulon Motor Co Ltd (2201)?
On an EBIT basis the return on assets of Yulon Motor Co Ltd is 2.4% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Yulon Motor Co Ltd (2201)?
The operating margin of Yulon Motor Co Ltd is 9.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Yulon Motor Co Ltd (2201)?
Revenue at Yulon Motor Co Ltd is growing −3.5% versus a year earlier (3y avg −2.1%). 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 Yulon Motor Co Ltd (2201)?
Earnings per share at Yulon Motor Co Ltd are growing −16.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Yulon Motor Co Ltd (2201) carry?
The net debt of Yulon Motor Co Ltd is 220B TWD (fiscal year 2025, ≈ 13.5 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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