Sanyang Motor Co Ltd (2206) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Sanyang Motor Co Ltd TWD 70.01, price TWD 62.90, upside +11.3%, quality 44 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Sanyang Motor Co., Ltd. engages in the manufacture and sale of automobiles, motorcycles, and their components in Taiwan, China, Asia, Europe, and internationally.
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Sanyang Motor Co., Ltd. engages in the manufacture and sale of automobiles, motorcycles, and their components in Taiwan, China, Asia, Europe, and internationally. The company is involved in the provision of distribution, repair, and maintenance of automobiles and its parts; product design; automotive parts; locomotives and their parts; repair and maintenance; passenger car rental; investment businesses; motorcycles and spare parts; waste disposal; senior housing; research on aluminum battery-related energy; development, manufacturing, and sales; sales of tea; real estate trading; planning and development; auto repair and auto parts sales; property insurance agency business; retail of automobiles and their parts; medical tools and other businesses; research, development, and sales of devices for detecting human physiology; electronic component manufacturing; entertainment and leisure services; camping trailers; real estate trading; automobile and parts dealership, and repair; campervans; motorcycle parts manufacturing, processing, and sales; and real estate development and management. It also provides related technical and consulting services. The company offers its products under the SYM and HYUNDAI brands. The company was formerly known as Sanyang Industry Co., Ltd. and changed its name to Sanyang Motor Co., Ltd. in January 2015. Sanyang Motor Co., Ltd. was founded in 1954 and is headquartered in Hsinchu City, Taiwan.
Stock analysis
Sanyang Motor Co Ltd (2206) currently trades at 62.90 TWD, while our model-based Fair Value estimate is 70.01 TWD, implying the stock looks roughly 10.2% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 106.65 TWD per share, and 15 of the 25 models we run sit above the 62.90 TWD price.
Bear case: the Asset-Based group reads lowest at 23.25 TWD, and 10 of the 25 models stay below the price. Evidence for this calculation is high.
Scenario range: 39.27 TWD (bear) to 108.20 TWD (bull), the price of 62.90 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 44/100 (below-average quality), in the Consumer Cyclical sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Sanyang Motor Co Ltd reported revenue of 62.6B TWD in FY2025 versus 41.6B TWD in FY2021, a compound +10.8%/yr. Reported net income was 4.5B TWD in FY2025, compounding +25.5%/yr from FY2021.
Key figures
Market cap 49.4B TWD (≈ $1.6B) · P/E ratio 10.9 · P/S ratio 0.79 · EPS (TTM) 5.77 TWD · Dividend yield 4.8% · Net margin 7.2% · Return on equity 12.7% · Return on assets (EBIT) 7.4%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (low confidence).
What moves the price
The share trades about 3% below its 52-week high and 13% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at −4% fair-value upside, at 11%, 2206 screens cheaper than that median.
Fair Value models
Bear 39.27 TWDFair Value 70.01 TWDBull 108.20 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 (4.22 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.63/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−4.6%
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.
+7.2%
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.
+9.0%
Start year 2020 (pandemic). Over 10 years: +6.7% 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.
+2.8%
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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.
+23.9%
Earnings growth per share plus dividend.
Earnings per share, growth per year+19.1%
Dividend (yield on the price)4.8%
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.19% vs 5%, picking up
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.7% → 9%
Start year 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).
+15.1%
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 +13.3% 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 · 112 stocks
Beats the industry median on 9/15 measures
Overall it ranks above its industry peers.
Valuation
Quality Score44 · Below median
Fair Value upside+10% · Below median
Profitability
Return on equity (TTM)13% · Above median
Return on assets4% · Top 25%
Net margin (TTM)7% · Top 25%
Operating margin (TTM)9% · Top 25%
Growth and dividend
Revenue growth−1% · Below median
Dividend yield (TTM)4.8% · Above median
Balance sheet
Debt / equity0.77× · Highest 25%
Valuation Multiplesvs Auto Manufacturers median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Sanyang Motor Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/2206
Frequently asked questions
Is Sanyang Motor Co Ltd (2206) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of 70.01 TWD versus a price of 62.90 TWD, about +11% upside (undervalued).
What is the fair value of 2206?
Our model-based fair value for Sanyang Motor Co Ltd is 70.01 TWD (as of Sep 23, 2026), built from audited fundamentals. The current price: 62.90 TWD.
What is the quality score of 2206?
Sanyang Motor Co Ltd has a Quality Score of 44/100. 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 Sanyang Motor Co Ltd (2206)?
Our model-based price target is the fair value of 70.01 TWD (as of Sep 23, 2026) from 25 valuation models. Cautious scenario 39.27 TWD, optimistic scenario 108.20 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Sanyang Motor Co Ltd stock forecast for 2026?
Our models put fair value at 70.01 TWD, about +11% upside versus a price of 62.90 TWD (undervalued). Cautious scenario 39.27 TWD, optimistic scenario 108.20 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Sanyang Motor Co Ltd (2206)?
Sanyang Motor Co Ltd reported trailing-twelve-month revenue of about 62.5B TWD (latest available figure, as of Sep 23, 2026).
Does Sanyang Motor Co Ltd pay a dividend?
Sanyang Motor Co Ltd currently shows a dividend yield of about 4.83% relative to its recent price (as of Sep 23, 2026).
What growth is priced into Sanyang Motor Co Ltd (2206)?
For today's price to be fair in a discounted-cash-flow model, Sanyang Motor Co Ltd would have to grow free cash flow by +15.1 % per year for five years (discount rate 9.8 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +9.0 % per year. As of Sep 23, 2026.
What discount rate (WACC) does the fair value of 2206 use?
Our models discount Sanyang Motor Co Ltd at 9.8 %: a base by market capitalisation (large), 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 Sanyang Motor Co Ltd that is +15.1 % per year a year over ten years, using the same discount rate (9.8 %) and the same formula as our fair value.
How much growth has Sanyang Motor Co Ltd (2206) delivered so far?
Over the past 5 years revenue at Sanyang Motor Co Ltd grew +9.0 % a year. The price currently implies +15.1 % 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 Sanyang Motor Co Ltd (2206) growing?
The median revenue growth in the sector is +2.5 % a year. That is the yardstick for the growth priced into Sanyang Motor Co Ltd (+15.1 % 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 Sanyang Motor Co Ltd (2206)?
The free-cash-flow yield on the price is 4.82 %: that much free cash flow Sanyang Motor Co Ltd produces per unit of market value. When it exceeds the discount rate of our models (9.8 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Sanyang Motor Co Ltd (2206)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Sanyang Motor Co Ltd it is 70.01 TWD per share (as of Sep 23, 2026), against a price of 62.90 TWD. It is the blended result of 25 valuation models (cash flow, earnings, asset, dividend).
Is Sanyang Motor Co Ltd stock overvalued or undervalued in 2026?
As of Sep 23, 2026, 2206 trades below its calculated fair value: price 62.90 TWD, fair value 70.01 TWD, a gap of about +11% (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 2206?
No. The price is what the market pays today (62.90 TWD); the fair value is what the company's own numbers justify (70.01 TWD). For Sanyang Motor Co Ltd the two are 7.11 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Sanyang Motor Co Ltd worth?
The market values Sanyang Motor Co Ltd at about 49.4B TWD (market capitalisation, as of Sep 23, 2026). Per share that is 62.90 TWD; our models calculate a fair value of 70.01 TWD per share.
What do the bullish and bearish scenarios say about 2206?
Our models span a range for Sanyang Motor Co Ltd: cautious scenario 39.27 TWD, base 70.01 TWD, optimistic 108.20 TWD per share (as of Sep 23, 2026, price 62.90 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 2206?
Sanyang Motor Co Ltd trades at a price-to-earnings ratio of 10.9 (as of Sep 23, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 70.01 TWD is built from several models across several years. Other multiples: PEG 0.1, P/B 1.9, P/S 0.8, EV/EBITDA 8.6.
What is the PEG ratio of 2206?
The PEG ratio of Sanyang Motor Co Ltd is 0.15 (P/E divided by earnings growth, as of Sep 23, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Sanyang Motor Co Ltd (2206)?
Balance-sheet figures for Sanyang Motor Co Ltd (as of Sep 23, 2026): return on equity 12.7%, debt of 0.77 per unit of equity. They feed the Quality Score of 44/100, which measures business quality independently of the share price.
How far is 2206 from its 52-week high?
Sanyang Motor Co Ltd trades at 62.90 TWD, about 3% below its 52-week high of 64.80 TWD and 13% above the low of 55.50 TWD (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 70.01 TWD is for.
Which stocks are comparable to Sanyang 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 Sanyang Motor Co Ltd stock attractive at the current price?
The data as of Sep 23, 2026: price 62.90 TWD, calculated fair value 70.01 TWD (+11%), Quality Score 44/100, from 25 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 2206 calculated?
We run Sanyang Motor Co Ltd through 25 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 70.01 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. Sanyang Motor Co Ltd currently trades 11 % 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 Sanyang Motor Co Ltd (2206)?
The closing price on Sep 24, 2026 was 62.90 TWD. Our model-based fair value is 70.01 TWD, about +11% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Sanyang Motor Co Ltd right now?
The model range is unusually wide (39.27 TWD to 108.20 TWD). The outcome hinges heavily on assumptions, so read the point estimate with caution. The price sits in the lower half of our model range, the side with the larger margin of safety. The data supports the verdict: every model runs on fully documented inputs.
Key figures of Sanyang Motor Co Ltd
How large is the market capitalisation of Sanyang Motor Co Ltd (2206)?
The market capitalisation of Sanyang Motor Co Ltd is 49.4B TWD (≈ $1.6B). 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 Sanyang Motor Co Ltd (2206)?
The price-to-sales ratio of Sanyang Motor Co Ltd is 0.79 (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 Sanyang Motor Co Ltd (2206)?
Earnings per share at Sanyang Motor Co Ltd are 5.77 TWD (price ÷ EPS = P/E 10.9). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Sanyang Motor Co Ltd (2206)?
The dividend yield of Sanyang Motor Co Ltd is 4.8% (payout 52.6%). 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 Sanyang Motor Co Ltd (2206)?
The net margin of Sanyang Motor Co Ltd is 7.2% (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 Sanyang Motor Co Ltd (2206)?
The return on equity (ROE) of Sanyang Motor Co Ltd is 12.7% (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 Sanyang Motor Co Ltd (2206)?
On an EBIT basis the return on assets of Sanyang Motor Co Ltd is 7.4% (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 Sanyang Motor Co Ltd (2206)?
The operating margin of Sanyang Motor Co Ltd is 9.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Sanyang Motor Co Ltd (2206)?
Revenue at Sanyang Motor Co Ltd is growing −0.9% versus a year earlier (3y avg +7.2%). 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 Sanyang Motor Co Ltd (2206)?
Earnings per share at Sanyang Motor Co Ltd are growing −11.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Sanyang Motor Co Ltd (2206) carry?
The net debt of Sanyang Motor Co Ltd is 22.4B TWD (fiscal year 2025, ≈ 9.4 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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