HORNG SHIUE HOLDING Co Ltd (2243) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of HORNG SHIUE HOLDING Co Ltd TWD 20.26, price TWD 50.20, upside -59.6%, quality 41 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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HORNG SHIUE HOLDING Co., Ltd. engages in the manufacture, processing, and trading of automotive sheet metal stamping dies and gauges in China and internationally. It also provides after sales technical consulting services. The company was founded in 2000 and is headquartered in Grand Cayman, Cayman Islands.
Stock analysis
HORNG SHIUE HOLDING Co Ltd (2243) currently trades at 50.20 TWD, while our model-based Fair Value estimate is 20.26 TWD, implying the stock looks roughly 147.8% overvalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of 25.69 TWD per share, and 0 of the 22 models we run sit above the 50.20 TWD price.
Bear case: the Asset-Based group reads lowest at 8.15 TWD, and 22 of the 22 models stay below the price. Evidence for this calculation is medium.
Scenario range: 15.49 TWD (bear) to 26.34 TWD (bull), the price of 50.20 TWD sits above 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 41/100 (below-average quality), in the Consumer Cyclical sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
HORNG SHIUE HOLDING Co Ltd reported revenue of 1.7B TWD in FY2025 versus 1.5B TWD in FY2021, a compound +3.8%/yr. Reported net income was 84.6M TWD in FY2025.
Key figures
Market cap 3.5B TWD (≈ $109M) · P/E ratio 41.1 · P/S ratio 2.00 · EPS (TTM) 1.22 TWD · Net margin 4.9% · Return on equity 21.6% · Return on assets (EBIT) 0.0% · Operating margin 7.8%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (medium confidence).
What moves the price
The share trades about 24% below its 52-week high and 376% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at −19% fair-value upside, at −60%, 2243 screens richer than that median.
Fair Value models
Bear 15.49 TWDFair Value 20.26 TWDBull 26.34 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 (0.8958 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.84/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−9.0%
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.
+0.8%
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.
+18.1%
Start year 2020 (pandemic). Over 10 years: −1.0% a year
Revenue growth 11 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.
+1.4%
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Profit margin (trend) ⓘ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.
−25.1% (2020) → 6.0% (2025)
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).
+45.7%
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 +43.4% a year for the price.
Compare HORNG SHIUE HOLDING Co Ltd with another stock
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 · 695 stocks
Beats the industry median on 6/13 measures
A mixed picture versus its industry peers.
Valuation
Quality Score41 · Bottom 25%
Fair Value upside−60% · Bottom 25%
Profitability
Return on equity (TTM)22% · Top 25%
Return on assets4% · Above median
Net margin (TTM)8% · Above median
Operating margin (TTM)8% · Above median
Growth and dividend
Revenue growth179% · Top 25%
Balance sheet
Debt / equity0.05× · Below median
Valuation Multiplesvs Auto Parts median · lower = cheaper
P/E (TTM)41.1× · Priciest 25%
P/B4.13× · Priciest 25%
P/S (TTM)1.66× · Pricier than median
P/FCF2.2× · Pricier than median
EV/EBITDA11.6× · Pricier than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 26
FUTURE (revenue growth)100· sector 19
PAST (return on equity)86· sector 28
HEALTH (low debt)98· sector 95
DIVIDEND (yield)0· sector 38
VALUE 0: the price sits above our fair-value range.
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). "HORNG SHIUE HOLDING Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/2243
Frequently asked questions
Is HORNG SHIUE HOLDING Co Ltd (2243) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 20.26 TWD versus a price of 50.20 TWD, about −60% upside (overvalued).
What is the fair value of 2243?
Our model-based fair value for HORNG SHIUE HOLDING Co Ltd is 20.26 TWD (as of Sep 24, 2026), built from audited fundamentals. The current price: 50.20 TWD.
What is the quality score of 2243?
HORNG SHIUE HOLDING Co Ltd has a Quality Score of 41/100. 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 HORNG SHIUE HOLDING Co Ltd (2243)?
Our model-based price target is the fair value of 20.26 TWD (as of Sep 24, 2026) from 22 valuation models. Cautious scenario 15.49 TWD, optimistic scenario 26.34 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the HORNG SHIUE HOLDING Co Ltd stock forecast for 2026?
Our models put fair value at 20.26 TWD, about −60% upside versus a price of 50.20 TWD (overvalued). Cautious scenario 15.49 TWD, optimistic scenario 26.34 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of HORNG SHIUE HOLDING Co Ltd (2243)?
HORNG SHIUE HOLDING Co Ltd reported trailing-twelve-month revenue of about 2.1B TWD (latest available figure, as of Sep 24, 2026).
What growth is priced into HORNG SHIUE HOLDING Co Ltd (2243)?
For today's price to be fair in a discounted-cash-flow model, HORNG SHIUE HOLDING Co Ltd would have to grow free cash flow by +45.7 % per year for five years (discount rate 13.3 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +18.1 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 2243 use?
Our models discount HORNG SHIUE HOLDING Co Ltd at 13.3 %: a base by market capitalisation (micro), 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 HORNG SHIUE HOLDING Co Ltd that is +45.7 % per year a year over ten years, using the same discount rate (13.3 %) and the same formula as our fair value.
How much growth has HORNG SHIUE HOLDING Co Ltd (2243) delivered so far?
Over the past 5 years revenue at HORNG SHIUE HOLDING Co Ltd grew +18.1 % a year. The price currently implies +45.7 % 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 HORNG SHIUE HOLDING Co Ltd (2243) growing?
The median revenue growth in the sector is +2.6 % a year. That is the yardstick for the growth priced into HORNG SHIUE HOLDING Co Ltd (+45.7 % 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 HORNG SHIUE HOLDING Co Ltd (2243)?
The free-cash-flow yield on the price is 1.40 %: that much free cash flow HORNG SHIUE HOLDING Co Ltd produces per unit of market value. When it exceeds the discount rate of our models (13.3 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of HORNG SHIUE HOLDING Co Ltd (2243)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For HORNG SHIUE HOLDING Co Ltd it is 20.26 TWD per share (as of Sep 24, 2026), against a price of 50.20 TWD. It is the blended result of 22 valuation models (cash flow, earnings, asset, dividend).
Is HORNG SHIUE HOLDING Co Ltd stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 2243 trades above its calculated fair value: price 50.20 TWD, fair value 20.26 TWD, a gap of about −60% (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 2243?
No. The price is what the market pays today (50.20 TWD); the fair value is what the company's own numbers justify (20.26 TWD). For HORNG SHIUE HOLDING Co Ltd the two are 29.94 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is HORNG SHIUE HOLDING Co Ltd worth?
The market values HORNG SHIUE HOLDING Co Ltd at about 3.5B TWD (market capitalisation, as of Sep 24, 2026). Per share that is 50.20 TWD; our models calculate a fair value of 20.26 TWD per share.
What do the bullish and bearish scenarios say about 2243?
Our models span a range for HORNG SHIUE HOLDING Co Ltd: cautious scenario 15.49 TWD, base 20.26 TWD, optimistic 26.34 TWD per share (as of Sep 24, 2026, price 50.20 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 2243?
HORNG SHIUE HOLDING Co Ltd trades at a price-to-earnings ratio of 41.1 (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 20.26 TWD is built from several models across several years. Other multiples: P/B 4.1, P/S 1.7, EV/EBITDA 11.6.
How solid is the balance sheet of HORNG SHIUE HOLDING Co Ltd (2243)?
Balance-sheet figures for HORNG SHIUE HOLDING Co Ltd (as of Sep 24, 2026): return on equity 21.6%, debt of 0.05 per unit of equity. They feed the Quality Score of 41/100, which measures business quality independently of the share price.
How far is 2243 from its 52-week high?
HORNG SHIUE HOLDING Co Ltd trades at 50.20 TWD, about 24% below its 52-week high of 66.00 TWD and 376% above the low of 10.55 TWD (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 20.26 TWD is for.
Which stocks are comparable to HORNG SHIUE HOLDING Co Ltd?
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 HORNG SHIUE HOLDING Co Ltd stock attractive at the current price?
The data as of Sep 24, 2026: price 50.20 TWD, calculated fair value 20.26 TWD (−60%), Quality Score 41/100, from 22 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 2243 calculated?
We run HORNG SHIUE HOLDING Co Ltd through 22 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 20.26 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. HORNG SHIUE HOLDING Co Ltd 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 HORNG SHIUE HOLDING Co Ltd (2243)?
The closing price on Sep 24, 2026 was 50.20 TWD. Our model-based fair value is 20.26 TWD, about −60% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with HORNG SHIUE HOLDING Co Ltd right now?
The price sits above even our optimistic bull case (26.34 TWD). The favourable scenario is already priced in. Weak quality (41/100) and above fair value at the same time, the margin of safety is missing on both counts.
Where does the earnings growth of HORNG SHIUE HOLDING Co Ltd (2243) come from?
Earnings per share at HORNG SHIUE HOLDING Co Ltd grew −13.5 % a year from 2014 to 2025. Broken into its drivers: revenue per share −8.0 %, EBIT margin −7.3 %, tax rate +0.0 %, 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 HORNG SHIUE HOLDING Co Ltd
How large is the market capitalisation of HORNG SHIUE HOLDING Co Ltd (2243)?
The market capitalisation of HORNG SHIUE HOLDING Co Ltd is 3.5B TWD (≈ $109M). 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 HORNG SHIUE HOLDING Co Ltd (2243)?
The price-to-sales ratio of HORNG SHIUE HOLDING Co Ltd is 2.00 (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 HORNG SHIUE HOLDING Co Ltd (2243)?
Earnings per share at HORNG SHIUE HOLDING Co Ltd are 1.22 TWD (price ÷ EPS = P/E 41.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of HORNG SHIUE HOLDING Co Ltd (2243)?
The net margin of HORNG SHIUE HOLDING Co Ltd is 4.9% (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 HORNG SHIUE HOLDING Co Ltd (2243)?
The return on equity (ROE) of HORNG SHIUE HOLDING Co Ltd is 21.6% (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 HORNG SHIUE HOLDING Co Ltd (2243)?
On an EBIT basis the return on assets of HORNG SHIUE HOLDING Co Ltd is 0.0% (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 HORNG SHIUE HOLDING Co Ltd (2243)?
The operating margin of HORNG SHIUE HOLDING Co Ltd is 7.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at HORNG SHIUE HOLDING Co Ltd (2243)?
Revenue at HORNG SHIUE HOLDING Co Ltd is growing +179% versus a year earlier (3y avg +0.8%). 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 HORNG SHIUE HOLDING Co Ltd (2243)?
Earnings per share at HORNG SHIUE HOLDING Co Ltd are growing +217% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does HORNG SHIUE HOLDING Co Ltd (2243) carry?
The net debt of HORNG SHIUE HOLDING Co Ltd is 205M TWD (fiscal year 2025, ≈ 4.2 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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