China Motor Corp (2204) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of China Motor Corp stock TWD 44.56, price TWD 51.80, that is 14.0% below the price, quality 51 out of 100. Rating: overvalued. Calculated from audited financials with 15 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 8, 2026.
How to read this chart
60‑month range 38.53 TWD – 147.50 TWD · fair‑value band 33.76 TWD – 63.85 TWD · the 51.80 TWD price screens above the 44.56 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. As of Nov 8, 2026.
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China Motor Corporation manufactures and sells automobiles, and related parts and components in Taiwan and internationally. The company operates through Vehicle Manufacturing, Channel, and Others segments.
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It offers commercial and recreational vehicles, electric motorcycle, automated guided vehicle, sedan, RV, LCV, Truck, EV, and electric scooter.
The company also engages in overseas investment in production and service industries; manufacture of automobile engine; provision of after-sales services of vehicle; consulting and servicing, and investment activities; automatic control equipment engineering; and sale of second-hand vehicle, motorcycle, bicycle, and parts.
China Motor Corporation was incorporated in 1969 and is based in Taoyuan City, Taiwan.
Stock analysis
China Motor Corp (2204) currently trades at 51.80 TWD, while our model-based Fair Value estimate is 44.56 TWD, 14% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 89.61 TWD per share, and 5 of the 15 models we run sit above the 51.80 TWD price.
Bear case: the DCF Models group reads lowest at 34.08 TWD, and 10 of the 15 models stay below the price. Data coverage for this calculation is medium.
Scenario range: 33.76 TWD (bear) to 63.85 TWD (bull), the price of 51.80 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 51/100 (solid 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.
China Motor Corp reported revenue of 32.1B TWD in FY2025 versus 31.1B TWD in FY2021, a compound +0.8%/yr. Reported net income was 3.0B TWD in FY2025, compounding −8.1%/yr from FY2021.
Key figures
Market cap 29.3B TWD (≈ $894M) Small · P/E ratio 8.3 · P/S ratio 0.87 · EPS (TTM) 6.23 TWD · Dividend yield 6.9% · Net margin 10.1% · Return on equity 8.8% · Return on assets (EBIT) 1.1% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 41 out of 100 (low confidence).
What moves the price
The share trades about 15% below its 52-week high and 2% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at 8% fair-value upside, at −14%, 2204 screens richer than that median.
Fair Value models
Bear33.76 TWDFair Value 44.56 TWDBull63.85 TWD
Price 51.80 TWD · Downside -14.0%
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 (2.25 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.26/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
−18.2%
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.
+2.8%
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.
+0.8%
Start year 2020 (pandemic). Over 10 years: −1.4% 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.
−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.
+1.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year−5.6%
Dividend (yield on the price)6.9%
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.−5.6% vs −1.2%, 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.12% → 4%
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 · 106 stocks
Beats the industry median on 8/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score51 · Above median
Fair Value upside−14.0% · Below median
Profitability
Return on equity (12 months)8.8% · Above median
Return on assets5.5% · Top 25%
Net margin (12 months)10.1% · Top 25%
Operating margin (12 months)5.7% · Above median
Growth and dividend
Revenue growth (quarter YoY)2.3% · Below median
Dividend yield (12 months)6.9% · Top 25%
Valuation Multiplesvs Auto Manufacturers median · lower = cheaper
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). "China Motor Corp Fair Value". https://www.fairvalue-calculator.com/stock/2204
Frequently asked questions
Is China Motor Corp (2204) overvalued or undervalued?
As of Nov 8, 2026, our model estimates a fair value of 44.56 TWD versus a price of 51.80 TWD, about 14% lower (overvalued).
What is the fair value of 2204?
Our model-based fair value for China Motor Corp is 44.56 TWD (as of Nov 8, 2026), built from audited fundamentals. The current price: 51.80 TWD.
What is the quality score of 2204?
China Motor Corp has a Quality Score of 51/100. 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 China Motor Corp (2204)?
Our model-based price target is the fair value of 44.56 TWD (as of Nov 8, 2026) from 15 valuation models. Cautious scenario 33.76 TWD, optimistic scenario 63.85 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the China Motor Corp stock forecast for 2026?
Our models put fair value at 44.56 TWD, about 14% lower versus a price of 51.80 TWD (overvalued). Cautious scenario 33.76 TWD, optimistic scenario 63.85 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of China Motor Corp (2204)?
China Motor Corp reported trailing-twelve-month revenue of about 33.7B TWD (latest available figure, as of Nov 8, 2026).
Does China Motor Corp pay a dividend?
China Motor Corp currently shows a dividend yield of 6.95% relative to its recent price (as of Nov 8, 2026).
How much is the dividend of China Motor Corp (2204) and when is the ex-dividend date?
China Motor Corp pays a dividend of 3.60 TWD per share a year, a dividend yield of 6.9%. The last ex-dividend date was Jul 23, 2026. The payout ratio is 57.8% of earnings. Our assessment: Watch coverage. The dividend isn’t fully covered by free cash flow or earnings, part of it is funded from reserves or debt. Fine for now, but worth watching: if it stays uncovered, the dividend could be cut.
What is the intrinsic value of China Motor Corp (2204)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For China Motor Corp it is 44.56 TWD per share (as of Nov 8, 2026), against a price of 51.80 TWD. It is the blended result of 15 valuation models in 7 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings).
Is China Motor Corp stock overvalued or undervalued in 2026?
As of Nov 8, 2026, 2204 trades above its calculated fair value: price 51.80 TWD, fair value 44.56 TWD, a gap of about −14% (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 2204?
No. The price is what the market pays today (51.80 TWD); the fair value is what the company's own numbers justify (44.56 TWD). For China Motor Corp the two are 7.24 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is China Motor Corp worth?
The market values China Motor Corp at about 29.3B TWD (market capitalisation, as of Nov 8, 2026). Per share that is 51.80 TWD; our models calculate a fair value of 44.56 TWD per share.
What do the bullish and bearish scenarios say about 2204?
Our models span a range for China Motor Corp: cautious scenario 33.76 TWD, base 44.56 TWD, optimistic 63.85 TWD per share (as of Nov 8, 2026, price 51.80 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 2204?
China Motor Corp trades at a price-to-earnings ratio of 8.3 (as of Nov 8, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 44.56 TWD is built from several models across several years. Median P/E at fiscal year-end, 5 fiscal years (2020 to 2025), reported earnings: 10.8. Other multiples: PEG 18.0, P/B 0.8, P/S 0.9, EV/EBITDA 11.2.
What is the PEG ratio of 2204?
The PEG ratio of China Motor Corp is 17.97 (P/E divided by earnings growth, as of Nov 8, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of China Motor Corp (2204)?
Balance-sheet figures for China Motor Corp (as of Nov 8, 2026): return on equity 8.8%. They feed the Quality Score of 51/100, which measures business quality independently of the share price.
How far is 2204 from its 52-week high?
China Motor Corp trades at 51.80 TWD, about 15% below its 52-week high of 61.30 TWD and 2% above the low of 50.60 TWD (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 44.56 TWD is for.
Which stocks are comparable to China Motor Corp?
From the same area (Consumer Cyclical) we also value Tesla, Inc, Toyota Motor Corporation, BYD Company, Ferrari N.V, 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 China Motor Corp stock attractive at the current price?
The data as of Nov 8, 2026: price 51.80 TWD, calculated fair value 44.56 TWD (−14%), Quality Score 51/100, from 15 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 2204 calculated?
We run China Motor Corp through 15 models from 7 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of 44.56 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 13.0% above its aggregate fair value. China Motor Corp 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 China Motor Corp (2204)?
The closing price on Nov 6, 2026 was 51.80 TWD. Our model-based fair value is 44.56 TWD, about 14% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with China Motor Corp right now?
Solid but not exceptional quality (51/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (33.76 TWD to 63.85 TWD) leaves room in how you read the outcome.
Where does the earnings growth of China Motor Corp (2204) come from?
Earnings per share at China Motor Corp grew +3.7 % a year from 2014 to 2025. Broken into its drivers: revenue per share −0.6 %, EBIT margin −1.9 %, tax rate +0.5 %, residual (interest, one-offs) +5.9 %. 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 China Motor Corp
How large is the market capitalisation of China Motor Corp (2204)?
The market capitalisation of China Motor Corp is 29.3B TWD (≈ $894M). 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 China Motor Corp (2204)?
The price-to-sales ratio of China Motor Corp is 0.87 (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 China Motor Corp (2204)?
Earnings per share at China Motor Corp are 6.23 TWD (price ÷ EPS = P/E 8.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of China Motor Corp (2204)?
The dividend yield of China Motor Corp is 6.9% (payout 57.8%). 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 China Motor Corp (2204)?
The net margin of China Motor Corp is 10.1% (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 China Motor Corp (2204)?
The return on equity (ROE) of China Motor Corp is 8.8% (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 China Motor Corp (2204)?
On an EBIT basis the return on assets of China Motor Corp is 1.1% (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 China Motor Corp (2204)?
The operating margin of China Motor Corp is 5.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at China Motor Corp (2204)?
Revenue at China Motor Corp is growing +2.3% versus a year earlier (3y avg +2.8%). 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 China Motor Corp (2204)?
Earnings per share at China Motor Corp are growing +57.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does China Motor Corp (2204) generate?
The free cash flow of China Motor Corp is −999M TWD (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does China Motor Corp (2204) carry?
The net debt of China Motor Corp is 3.5B TWD (fiscal year 2025). 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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Nov 8, 2026