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Shining Victory Motor Electronic Co (2248) Fair Value & Analysis

Consumer Cyclical · TW · Market cap 3.1B TWD

SV Shining Victory Motor Electronic Co 2248 · TW
Price62.00 TWD
Fair Value80.89 TWD
Upside+30.5%
Quality38/100
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Expensive Growth
Solidly profitable · 12.8% net margin
generates free cash flow
4.93% dividend yield
Ranks above peers (10/13)
Moderate moat 58/100
Evidence: High Range 43.76 TWD – 104.35 TWD Share as image

Fair value as of: Jul 21, 2026

From 26 valuation models · updated 21 days ago

Share price +10.9% over the past month.

Below-average quality, screening 30% undervalued on our models.

What matters now

  • The large discount to fair value meets weak quality (38/100). That raises the risk this is a value trap rather than a bargain.
  • A fairly wide model range (43.76 TWD to 104.35 TWD) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

67.05 TWD 15.29 TWD Fair Value 80.89 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 15.29 TWD – 67.05 TWD · fair‑value band 43.76 TWD – 104.35 TWD · the 62.00 TWD price screens below the 80.89 TWD fair value. Dashed = 300-day average. As of Jul 21, 2026.

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Analysis

Shining Victory Motor Electronic Co (2248) currently trades at 62.00 TWD, while our model-based Fair Value estimate is 80.89 TWD, implying the stock looks roughly 30.5% undervalued today. The Quality Score stands at 38/100 (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: high), always confirm before acting.

Over the trailing twelve months, Shining Victory Motor Electronic Co generated revenue of 2.1B TWD at a net margin of 12.0%. Revenue grew 9.8% year over year. It earns a return on equity of 17.1%. Net debt stands at 88.3M TWD. Fundamentals as of Jul 21, 2026

Our scenario range runs from 43.76 TWD (bear case) to 104.35 TWD (bull case); at 62.00 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 near its 52-week high and 51% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at -44% fair-value upside, at 30%, 2248 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 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
Highest evidence
Residual Income 34.30 TWD 42.86 TWD 92.64 TWD 76
Growth DCF 24.57 TWD 32.66 TWD 45.92 TWD 72
Gordon GGM 24.00 TWD 47.82 TWD 72.41 TWD 70
All 26 models by family
DCF Models
FCF DCF 24.73 TWD 33.83 TWD 49.43 TWD 38
Owner Earnings 54.39 TWD 87.84 TWD 145.24 TWD 31
5Y Revenue Exit 56.72 TWD 100.81 TWD 163.19 TWD 39
5Y EBITDA Exit 63.82 TWD 115.72 TWD 183.13 TWD 41
5Y P/E Exit 65.84 TWD 119.96 TWD 183.91 TWD 38
10Y Revenue Exit 43.54 TWD 81.29 TWD 143.63 TWD 36
10Y EBITDA Exit 50.16 TWD 92.09 TWD 160.24 TWD 37
10Y P/E Exit 51.48 TWD 95.16 TWD 160.89 TWD 35
Earnings-Based
Graham-Dodd 35.37 TWD 174.84 TWD 241.12 TWD 54
Lynch FV 47.11 TWD 67.30 TWD 87.49 TWD 50
PEG = 1.0 47.11 TWD 67.30 TWD 87.49 TWD 46
EPV 60.33 TWD 67.70 TWD 74.06 TWD 59
Dividend Discount
Gordon GGM 24.00 TWD 47.82 TWD 72.41 TWD 70
DDM Multi-Stage 24.00 TWD 41.33 TWD 50.48 TWD 61
Multiples
P/E Multiple 78.02 TWD 104.02 TWD 130.03 TWD 63
P/S Multiple 66.32 TWD 88.42 TWD 110.53 TWD 58
P/B Multiple 66.32 TWD 88.42 TWD 110.53 TWD 55
EV/EBIT 101.39 TWD 130.63 TWD 159.88 TWD 53
EV/EBITDA 88.43 TWD 113.36 TWD 138.28 TWD 54
EV/Revenue 72.80 TWD 98.14 TWD 123.49 TWD 43
Asset-Based
NCAV (Graham) 17.45 TWD 23.38 TWD 34.90 TWD 50
Growth DCF
Growth DCF 24.57 TWD 32.66 TWD 45.92 TWD 72
Rev-Margin DCF 56.72 TWD 98.56 TWD 153.63 TWD 67
Economic Profit
Residual Income 34.30 TWD 42.86 TWD 92.64 TWD 76
ROIC Compounder 66.88 TWD 84.38 TWD 106.46 TWD 67
Growth Earnings
Growth-Adj P/E 70.59 TWD 100.84 TWD 131.09 TWD 68

Widest divergence: Growth Earnings (100.84 TWD) versus Asset-Based (23.38 TWD). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 2.2B TWD
Revenue growth (YoY) +30.3%
Net margin 12.8%
Return on equity 16.5%
Free cash flow 42.0M TWD FY2025
P/E ratio 12.3
More key figures
Operating margin 16.3%
EPS (TTM) 5.31 TWD
Dividend yield 4.9%
EPS growth (YoY) +47.6%
Net debt 88.3M TWD FY2024

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

Quality Score breakdown

Overall quality 38/100

Of which business quality 41 · Market factors (momentum, volatility) 77

Profitability 50
Margins and returns on capital today
Quality Growth 18
Are margins and returns improving?
Cashflow 21
Earnings quality: real cash, not paper profit
Fin. Strength 88
Balance sheet, leverage, solvency risk
Investment 27
Disciplined investing over empire-building
Low Volatility 82
Calm price path (market factor)
Momentum 74
Price trend over the last 3–12 months (market factor)
52W Momentum 79
Distance to the 52-week high (market factor)
Net Issuance 20
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

Shining Victory Motor Electronic Co., Ltd., together with its subsidiaries, engages in the manufacturing and selling automotive LED interior lighting products in China, the United States, and Mexico.

Full company description

Shining Victory Motor Electronic Co., Ltd., together with its subsidiaries, engages in the manufacturing and selling automotive LED interior lighting products in China, the United States, and Mexico. It also provides interior ambient lighting, including instrument panels, door panels, cup holders, seats, and footlights; luminous welcome pedals; sky ceiling; door handle indicator and charging port indicator/ambience lights; and metal speaker mesh. The company was founded in 2001 and is based in Taipei, Taiwan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Shining Victory Motor Electronic Co reported revenue of 2.1B TWD in FY2025 versus 927M TWD in FY2021, a compound +22.2%/yr. Reported net income was 248M TWD in FY2025, compounding +26.8%/yr from FY2021.

Growth Quality 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
2.1B TWD
Latest YoY
−0.5%
Avg. growth/yr (3Y) 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.
+18.3%
Revenue +22.2%/yr
FY21 927M TWD
FY22 1.2B TWD
FY23 1.9B TWD
FY24 2.1B TWD
FY25 2.1B TWD
Net income +26.8%/yr
FY21 95.9M TWD
FY22 111M TWD
FY23 138M TWD
FY24 270M TWD
FY25 248M TWD

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Cite: Fair Value Calculator (2026). "Shining Victory Motor Electronic Co Fair Value". https://www.fairvalue-calculator.com/stock/2248

Peer Group

Auto Parts · 641 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 38 · Bottom 25%
Fair Value upside +31% · Top 25%
Return on equity (TTM) 16% · Top 25%
Return on assets 7% · Top 25%
Net margin (TTM) 13% · Top 25%
Operating margin (TTM) 16% · Top 25%
Revenue growth 30% · Top 25%
Dividend yield (TTM) 4.9% · Top 25%

Valuation Multiples vs Auto Parts median · lower = cheaper

P/E (TTM) 12.3× · Cheaper than 75% of peers
P/B 1.87× · Pricier than median
P/S (TTM) 1.41× · Pricier than median
P/FCF 2.3× · Cheaper than median
EV/EBITDA 6.4× · Cheaper than median

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 74 · sector 16
FUTURE 100 · sector 24
PAST 66 · sector 26
HEALTH 0 · sector 95
DIVIDEND 99 · sector 30

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 Parts stocks, each showing price versus our Fair Value estimate (as of Jul 21, 2026).

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Samvardhana Motherson International Limited MOTHERSON ₹144.17 ₹80.63 -44%
Bosch Limited BOSCHLTD ₹41,110 ₹14,004 -66%
Bharat Forge Limited BHARATFORG ₹2,117 ₹441.74 -79%
Uno Minda Limited UNOMINDA ₹1,158 ₹426.57 -63%
Schaeffler India Limited SCHAEFFLER ₹4,135 ₹1,412 -66%
Hankook Tire & Technology Co 161390 73,600 KRW 196,479 KRW +167%
MRF Limited MRF ₹131,025 ₹125,849 -4%
Sona BLW Precision Forgings Limited SONACOMS ₹792.00 ₹207.06 -74%

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Frequently asked questions

Is Shining Victory Motor Electronic Co (2248) overvalued or undervalued?
As of Jul 21, 2026, our model estimates a fair value of 80.89 TWD versus a price of 62.00 TWD, about +30% (undervalued).
What is the fair value of 2248?
Our model-based fair value for Shining Victory Motor Electronic Co is 80.89 TWD (as of Jul 21, 2026), built from audited fundamentals. The current price is 62.00 TWD.
What is the quality score of 2248?
Shining Victory Motor Electronic Co has a Quality Score of 38/100. 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 Shining Victory Motor Electronic Co (2248)?
Shining Victory Motor Electronic Co reported trailing-twelve-month revenue of about 2.1B TWD (latest available figure, as of Jul 21, 2026).
What is the net profit margin of 2248?
The net profit margin of Shining Victory Motor Electronic Co is about 12.0%, meaning it keeps roughly 12.0% 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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