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Yulon Motor Company (2201) Fair Value & Analysis

Consumer Cyclical · TW · Market cap 30.1B TWD

YM Yulon Motor Company 2201 · TW
Price27.25 TWD
Fair Value42.12 TWD
Upside+54.6%
Quality37/100
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Weak Growth
Thin margins · 1.3% net margin
Low debt · generates free cash flow
Mixed vs. peers (7/14)
Narrow moat 27/100
Evidence: Medium Range 18.39 TWD – 50.49 TWD Share as image

Fair value as of: Jul 21, 2026

From 26 valuation models · updated 20 days ago

Share price −4.4% over the past month.

Below-average quality, screening 55% undervalued on our models.

What matters 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 model range is unusually wide (18.39 TWD to 50.49 TWD). The outcome hinges heavily on assumptions, so read the point estimate with caution.
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Price vs Fair Value (5 years)

90.60 TWD 26.35 TWD Fair Value 42.12 TWD Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 21, 2026.

How to read this chart

60‑month range 26.35 TWD – 90.60 TWD · fair‑value band 18.39 TWD – 50.49 TWD · the 27.25 TWD price screens below the 42.12 TWD fair value. Dashed = 300-day average. As of Jul 21, 2026.

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Analysis

Yulon Motor Company (2201) currently trades at 27.25 TWD, while our model-based Fair Value estimate is 42.12 TWD, implying the stock looks roughly 54.6% undervalued today. The Quality Score stands at 37/100 (below-average quality), in the Consumer Cyclical sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: medium), always confirm before acting.

Over the trailing twelve months, Yulon Motor Company generated revenue of 71.7B TWD at a net margin of 1.3%. Revenue declined 3.5% year over year. It earns a return on equity of 3.7%. Net debt stands at 220B TWD. Fundamentals as of Jul 21, 2026

Our scenario range runs from 18.39 TWD (bear case) to 50.49 TWD (bull case); at 27.25 TWD, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 37% below its 52-week high and 4% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at 25% fair-value upside, at 55%, 2201 screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model BearBaseBull Evidence
Highest evidence
Growth DCF 202.54 TWD 342.65 TWD 577.01 TWD 80
Residual Income 41.64 TWD 39.77 TWD 30.56 TWD 76
Rev-Margin DCF 103.65 TWD 149.40 TWD 208.20 TWD 74
All 26 models by family
DCF Models
FCF DCF 203.32 TWD 354.01 TWD 611.74 TWD 38
Owner Earnings 127.19 TWD 218.95 TWD 375.87 TWD 31
5Y Revenue Exit 103.65 TWD 147.86 TWD 203.30 TWD 39
5Y EBITDA Exit 162.53 TWD 267.71 TWD 396.78 TWD 41
5Y P/E Exit 81.22 TWD 102.20 TWD 122.95 TWD 38
10Y Revenue Exit 134.29 TWD 186.92 TWD 259.21 TWD 36
10Y EBITDA Exit 174.74 TWD 274.11 TWD 419.20 TWD 37
10Y P/E Exit 121.11 TWD 153.70 TWD 192.77 TWD 35
Earnings-Based
Graham-Dodd 6.27 TWD 27.79 TWD 38.05 TWD 54
Lynch FV 7.20 TWD 10.29 TWD 13.38 TWD 50
PEG = 1.0 7.20 TWD 10.29 TWD 13.38 TWD 46
EPV 43.64 TWD 49.46 TWD 54.56 TWD 59
Dividend Discount
Gordon GGM 27.40 TWD 56.97 TWD 90.38 TWD 70
DDM Multi-Stage 27.40 TWD 48.04 TWD 59.80 TWD 61
Multiples
P/E Multiple 15.20 TWD 20.27 TWD 25.34 TWD 63
P/S Multiple 11.75 TWD 15.66 TWD 19.58 TWD 58
P/B Multiple 11.75 TWD 15.66 TWD 19.58 TWD 55
EV/EBIT 79.82 TWD 103.52 TWD 127.23 TWD 53
EV/EBITDA 154.97 TWD 203.73 TWD 252.50 TWD 54
EV/Revenue 56.63 TWD 77.18 TWD 97.73 TWD 43
Asset-Based
NCAV (Graham) 29.76 TWD 39.88 TWD 59.53 TWD 50
Growth DCF
Growth DCF 202.54 TWD 342.65 TWD 577.01 TWD 80
Rev-Margin DCF 103.65 TWD 149.40 TWD 208.20 TWD 74
Economic Profit
Residual Income 41.64 TWD 39.77 TWD 30.56 TWD 76
ROIC Compounder 43.64 TWD 49.46 TWD 54.56 TWD 72
Growth Earnings
Growth-Adj P/E 12.13 TWD 17.33 TWD 22.53 TWD 68

Widest divergence: DCF Models (186.92 TWD) versus Earnings-Based (10.29 TWD). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 71.7B TWD
Revenue growth (YoY) -3.5%
Net margin 1.3%
Return on equity 3.7%
Free cash flow 16.3B TWD FY2025
P/E ratio 29.9
More key figures
Operating margin 9.0%
EPS (TTM) 0.9300 TWD
EPS growth (YoY) -15.9%
Net debt 220B TWD FY2025

Figures from reported company fundamentals · as of Jul 21, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 37/100

Of which business quality 39 · Market factors (momentum, volatility) 38

Profitability 15
Margins and returns on capital today
Quality Growth 34
Are margins and returns improving?
Cashflow 91
Earnings quality: real cash, not paper profit
Fin. Strength 19
Balance sheet, leverage, solvency risk
Investment 80
Disciplined investing over empire-building
Low Volatility 74
Calm price path (market factor)
Momentum 30
Price trend over the last 3–12 months (market factor)
52W Momentum 11
Distance to the 52-week high (market factor)
Net Issuance 0
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

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.

Full company description

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.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Yulon Motor Company 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.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
72.4B TWD
Latest YoY
−15.6%
Avg. growth/yr (3Y)
−2.1%
Avg. growth/yr (5Y)
−2.6%
Avg. growth/yr (25Y)
+1.5%
Revenue −1.9%/yr
FY21 78.0B TWD
FY22 77.1B TWD
FY23 82.1B TWD
FY24 85.8B TWD
FY25 72.4B TWD
Net income −40.4%/yr
FY21 7.7B TWD
FY22 −1.2B TWD
FY23 4.7B TWD
FY24 4.0B TWD
FY25 979M TWD

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Cite: Fair Value Calculator (2026). "Yulon Motor Company Fair Value". https://www.fairvalue-calculator.com/stock/2201

Peer Group

Auto Manufacturers · 119 stocks

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.

Quality Score 37 · Below median
Fair Value upside +31% · Above median
Return on equity (TTM) 4% · Below median
Return on assets 1% · Below median
Net margin (TTM) 1% · Below median
Operating margin (TTM) 9% · Top 25%
Revenue growth -4% · Below median
Debt / equity 0.14× · Higher than median

Valuation Multiples vs Auto Manufacturers median · lower = cheaper

P/E (TTM) 30.4× · Pricier than median
P/B 0.48× · Cheaper than 75% of peers
P/S (TTM) 0.42× · Cheaper than median
P/FCF 0.1× · Cheaper than 75% of peers
EV/EBITDA 2.0× · Cheaper than 75% of peers
PEG 0.25× · Cheaper than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 75 · sector 28
FUTURE 0 · sector 33
PAST 15 · sector 19
HEALTH 93 · sector 94
DIVIDEND 0 · sector 44

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Auto Manufacturers stocks, each showing price versus our Fair Value estimate (as of Jul 21, 2026).

Stock Price Fair Value vs Fair Value
Toyota Motor Corporation TM $179.76 $224.63 +25%
BYD Company 81211 HK$80.55 HK$50.85 -37%
Hyundai Motor Company 005380 425,000 KRW 616,918 KRW +45%
General Motors Company GM $77.72 $56.93 -27%
Bayerische Motoren Werke Aktiengesellschaft BMWM5N 1,909 MXN 2,944 MXN +54%
Ferrari N.V RACE $376.64 $228.05 -39%
Ford Motor Company F C$11.86 C$4.00 -66%
Mercedes-Benz Group BENZ C$20.44 C$35.15 +72%
Volkswagen AG VOW 2,149 CZK 7,191 CZK +235%
Maruti Suzuki India Limited MARUTI ₹13,803 ₹8,236 -40%

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Frequently asked questions

Is Yulon Motor Company (2201) overvalued or undervalued?
As of Jul 21, 2026, our model estimates a fair value of 42.12 TWD versus a price of 27.25 TWD, about +55% (undervalued).
What is the fair value of 2201?
Our model-based fair value for Yulon Motor Company is 42.12 TWD (as of Jul 21, 2026), built from audited fundamentals. The current price is 27.25 TWD.
What is the quality score of 2201?
Yulon Motor Company 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 revenue of Yulon Motor Company (2201)?
Yulon Motor Company reported trailing-twelve-month revenue of about 71.7B TWD (latest available figure, as of Jul 21, 2026).
What is the net profit margin of 2201?
The net profit margin of Yulon Motor Company is about 1.3%, meaning it keeps roughly 1.3% of revenue as net income. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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