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Tsann Kuen Enterprise Co (2430) Fair Value & Analysis

Consumer Cyclical · TW · Market cap 2.1B TWD

TK Tsann Kuen Enterprise Co 2430 · TW
Price17.25 TWD
Fair Value25.29 TWD
Upside+46.6%
Quality58/100
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Weak Growth
Thin margins · 0.3% net margin
Low debt · generates free cash flow
4.47% dividend yield
Mixed vs. peers (8/14)
Narrow moat 26/100
Evidence: High Range 18.87 TWD – 25.29 TWD Share as image

Fair value as of: Jul 23, 2026

From 22 valuation models · updated 18 days ago

Share price −4.2% over the past month.

A solid business, screening 47% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (18.87 TWD). The market is more pessimistic than our downside scenario.
  • Solid quality (58/100) at a price below fair value, the discount is the argument here, not the business quality.
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Price vs Fair Value (5 years)

50.44 TWD 8.33 TWD Fair Value 25.29 TWD Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 23, 2026.

How to read this chart

60‑month range 8.33 TWD – 50.44 TWD · fair‑value band 18.87 TWD – 25.29 TWD · the 17.25 TWD price screens below the 25.29 TWD fair value. Dashed = 300-day average. As of Jul 23, 2026.

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Analysis

Tsann Kuen Enterprise Co (2430) currently trades at 17.25 TWD, while our model-based Fair Value estimate is 25.29 TWD, implying the stock looks roughly 46.6% undervalued today. The Quality Score stands at 58/100 (solid 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, Tsann Kuen Enterprise Co generated revenue of 17.6B TWD at a net margin of 0.3%. Revenue declined 1.1% year over year. It earns a return on equity of 1.3%. Net debt stands at 3.7B TWD. Fundamentals as of Jul 23, 2026

Our scenario range runs from 18.87 TWD (bear case) to 25.29 TWD (bull case); at 17.25 TWD, the current price sits below 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 30% below its 52-week high, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at -24% fair-value upside, at 47%, 2430 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
Growth DCF 73.85 TWD 96.02 TWD 132.75 TWD 80
Residual Income 26.00 TWD 24.42 TWD 18.60 TWD 76
Rev-Margin DCF 45.30 TWD 57.25 TWD 72.59 TWD 74
All 22 models by family
DCF Models
FCF DCF 71.19 TWD 94.20 TWD 135.50 TWD 38
Owner Earnings 92.07 TWD 122.72 TWD 177.72 TWD 31
5Y Revenue Exit 45.30 TWD 55.73 TWD 70.75 TWD 39
5Y EBITDA Exit 85.96 TWD 126.09 TWD 179.26 TWD 41
5Y P/E Exit 39.29 TWD 45.32 TWD 52.74 TWD 38
10Y Revenue Exit 54.81 TWD 63.40 TWD 71.98 TWD 36
10Y EBITDA Exit 79.48 TWD 105.92 TWD 134.22 TWD 37
10Y P/E Exit 51.79 TWD 57.10 TWD 61.65 TWD 35
Earnings-Based
Graham-Dodd 4.73 TWD 5.78 TWD 6.50 TWD 54
EPV 27.72 TWD 30.79 TWD 33.43 TWD 59
Multiples
P/E Multiple 11.47 TWD 15.29 TWD 19.11 TWD 63
P/S Multiple 8.86 TWD 11.82 TWD 14.77 TWD 58
P/B Multiple 8.86 TWD 11.82 TWD 14.77 TWD 55
EV/EBIT 40.35 TWD 51.04 TWD 61.73 TWD 53
EV/EBITDA 110.49 TWD 144.56 TWD 178.63 TWD 54
EV/Revenue 29.90 TWD 39.16 TWD 48.43 TWD 43
Asset-Based
NCAV (Graham) 18.87 TWD 25.29 TWD 37.74 TWD 50
Growth DCF
Growth DCF 73.85 TWD 96.02 TWD 132.75 TWD 80
Rev-Margin DCF 45.30 TWD 57.25 TWD 72.59 TWD 74
Economic Profit
Residual Income 26.00 TWD 24.42 TWD 18.60 TWD 76
ROIC Compounder 27.72 TWD 30.79 TWD 33.43 TWD 72
Growth Earnings
Growth-Adj P/E 8.08 TWD 11.55 TWD 15.01 TWD 68

Widest divergence: DCF Models (63.40 TWD) versus Earnings-Based (5.78 TWD). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 17.6B TWD
Revenue growth (YoY) -1.1%
Net margin 0.3%
Return on equity 1.3%
Free cash flow 793M TWD FY2025
P/E ratio 25.8
More key figures
Operating margin 0.5%
EPS (TTM) 0.6900 TWD
Dividend yield 4.5%
EPS growth (YoY) -75.9%
Net debt 3.7B TWD FY2025

Figures from reported company fundamentals · as of Jul 23, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 58/100

Of which business quality 57 · Market factors (momentum, volatility) 38

Profitability 37
Margins and returns on capital today
Quality Growth 29
Are margins and returns improving?
Cashflow 64
Earnings quality: real cash, not paper profit
Fin. Strength 44
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 100
Calm price path (market factor)
Momentum 18
Price trend over the last 3–12 months (market factor)
52W Momentum 1
Distance to the 52-week high (market factor)
Net Issuance 90
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

Tsann Kuen Enterprise Co.,Ltd, through its subsidiaries, engages in the sale of various 3C department stores in Taiwan and Indonesia. It operates through Circulation Department and Other segments. The company was founded in 1978 and is based in Taipei, Taiwan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Tsann Kuen Enterprise Co reported revenue of 17.7B TWD in FY2025 versus 22.7B TWD in FY2021, a compound −6.1%/yr. Reported net income was 81.2M TWD in FY2025, compounding −40.6%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
17.7B TWD
Latest YoY
−6.9%
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.
−7.4%
Avg. growth/yr (5Y) 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.
−2.0%
Avg. growth/yr (25Y) 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.
+0.1%
Revenue −6.1%/yr
FY21 22.7B TWD
FY22 22.3B TWD
FY23 20.0B TWD
FY24 19.0B TWD
FY25 17.7B TWD
Net income −40.6%/yr
FY21 654M TWD
FY22 593M TWD
FY23 279M TWD
FY24 188M TWD
FY25 81.2M TWD
Character of growth · EPS growth decomposed (2014-2025) −5.2 % p.a.
Revenue per share −2.1 pp

of which total revenue −2.1 pp · buybacks/dilution +0.0 pp

EBIT margin −4.7 pp
Tax rate +0.4 pp
Residual (interest, one-offs) +1.1 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

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Cite: Fair Value Calculator (2026). "Tsann Kuen Enterprise Co Fair Value". https://www.fairvalue-calculator.com/stock/2430

Peer Group

Specialty Retail · 221 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 58 · Above median
Fair Value upside +47% · Top 25%
Return on equity (TTM) 1% · Below median
Return on assets 1% · Below median
Net margin (TTM) 0% · Below median
Operating margin (TTM) 1% · Below median
Revenue growth -1% · Below median
Dividend yield (TTM) 4.5% · Top 25%
Debt / equity 0.00× · Lower than median

Valuation Multiples vs Specialty Retail median · lower = cheaper

P/E (TTM) 25.8× · Pricier than median
P/B 0.47× · Cheaper than 75% of peers
P/S (TTM) 0.12× · Cheaper than 75% of peers
P/FCF 0.1× · Cheaper than 75% of peers
EV/EBITDA 4.2× · 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 95 · sector 29
FUTURE 0 · sector 23
PAST 5 · sector 27
HEALTH 100 · sector 94
DIVIDEND 89 · sector 51

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 Specialty Retail stocks, each showing price versus our Fair Value estimate (as of Jul 23, 2026).

Stock Price Fair Value vs Fair Value
Casey's General Stores, Inc CASY $827.04 $405.44 -51%
Williams-Sonoma, Inc WSM $222.84 $164.16 -26%
Ulta Beauty, Inc ULTA $479.57 $488.39 +2%
DICK'S Sporting Goods, Inc DKS $208.89 $181.10 -13%
Best Buy Co BBY $83.98 $109.12 +30%
China Tourism Group 601888 ¥52.90 ¥40.40 -24%
Tractor Supply Company TSCO $31.01 $35.52 +15%
Murphy USA Inc MUSA $618.57 $423.35 -32%
Five Below, Inc FIVE $197.71 $117.29 -41%
Taiwan Mobile Co 3045 110.50 TWD 80.98 TWD -27%

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Frequently asked questions

Is Tsann Kuen Enterprise Co (2430) overvalued or undervalued?
As of Jul 23, 2026, our model estimates a fair value of 25.29 TWD versus a price of 17.25 TWD, about +47% (undervalued).
What is the fair value of 2430?
Our model-based fair value for Tsann Kuen Enterprise Co is 25.29 TWD (as of Jul 23, 2026), built from audited fundamentals. The current price is 17.25 TWD.
What is the quality score of 2430?
Tsann Kuen Enterprise Co has a Quality Score of 58/100. 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 Tsann Kuen Enterprise Co (2430)?
Tsann Kuen Enterprise Co reported trailing-twelve-month revenue of about 17.6B TWD (latest available figure, as of Jul 23, 2026).
What is the net profit margin of 2430?
The net profit margin of Tsann Kuen Enterprise Co is about 0.3%, meaning it keeps roughly 0.3% of revenue as net income. Based on the latest reported figures.
Does Tsann Kuen Enterprise Co pay a dividend?
Tsann Kuen Enterprise Co currently shows a dividend yield of about 4.37% relative to its recent price (as of Jul 23, 2026).

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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