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Huxen Corporation (2433) Fair Value & Analysis

Industrials · TW · Market cap 6.1B TWD

HC Huxen Corporation 2433 · TW
Price41.90 TWD
Fair Value38.64 TWD
Upside-7.8%
Quality52/100
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Weak Growth
Solidly profitable · 16.2% net margin
Low debt · generates free cash flow
6.44% dividend yield
Ranks above peers (9/15)
Moderate moat 53/100
Evidence: Medium Range 29.38 TWD – 52.63 TWD Share as image

Fair value as of: Jul 21, 2026

From 24 valuation models · updated 20 days ago

Share price −0.2% over the past month.

A solid business, currently priced close to our fair value.

What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • Our model range runs from 29.38 TWD (bear) to 52.63 TWD (bull), base 38.64 TWD. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 52/100 (solid quality) with medium evidence: read the verdict with care.
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Price vs Fair Value (5 years)

53.90 TWD 41.04 TWD Fair Value 38.64 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 41.04 TWD – 53.90 TWD · fair‑value band 29.38 TWD – 52.63 TWD · the 41.90 TWD price screens above the 38.64 TWD fair value. Dashed = 300-day average. As of Jul 21, 2026.

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Analysis

Huxen Corporation (2433) currently trades at 41.90 TWD, while our model-based Fair Value estimate is 38.64 TWD, implying the stock looks roughly 7.8% fairly valued today. The Quality Score stands at 52/100 (solid quality), in the Industrials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: medium).

Over the trailing twelve months, Huxen Corporation generated revenue of 2.7B TWD at a net margin of 16.2%. Revenue grew 0.6% year over year. It earns a return on equity of 11.7%. Net debt stands at 2.0B TWD. Fundamentals as of Jul 21, 2026

Our scenario range runs from 29.38 TWD (bear case) to 52.63 TWD (bull case); at 41.90 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 about 18% below its 52-week high, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -32% fair-value upside, at -8%, 2433 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 16.09 TWD 22.28 TWD 33.16 TWD 80
Residual Income 21.87 TWD 25.58 TWD 41.83 TWD 76
Rev-Margin DCF 18.38 TWD 29.56 TWD 43.51 TWD 74
All 24 models by family
DCF Models
FCF DCF 15.36 TWD 21.74 TWD 33.98 TWD 38
Owner Earnings 33.72 TWD 46.23 TWD 70.24 TWD 31
5Y Revenue Exit 18.38 TWD 29.11 TWD 45.13 TWD 39
5Y EBITDA Exit 57.15 TWD 95.20 TWD 146.74 TWD 41
5Y P/E Exit 27.64 TWD 44.91 TWD 65.98 TWD 38
10Y Revenue Exit 16.34 TWD 24.98 TWD 34.71 TWD 36
10Y EBITDA Exit 40.19 TWD 66.78 TWD 97.09 TWD 37
10Y P/E Exit 22.55 TWD 34.97 TWD 47.50 TWD 35
Earnings-Based
Graham-Dodd 20.72 TWD 31.34 TWD 37.28 TWD 54
EPV 16.77 TWD 20.01 TWD 22.80 TWD 59
Dividend Discount
Gordon GGM 26.35 TWD 30.33 TWD 34.99 TWD 70
DDM Multi-Stage 26.35 TWD 33.98 TWD 43.46 TWD 61
Multiples
P/E Multiple 45.70 TWD 60.93 TWD 76.16 TWD 63
P/S Multiple 35.28 TWD 47.04 TWD 58.80 TWD 58
P/B Multiple 38.84 TWD 51.79 TWD 64.74 TWD 55
EV/EBIT 34.98 TWD 47.88 TWD 60.78 TWD 53
EV/EBITDA 98.48 TWD 132.54 TWD 166.61 TWD 54
EV/Revenue 22.36 TWD 33.54 TWD 44.72 TWD 43
Asset-Based
NCAV (Graham) 11.58 TWD 15.52 TWD 23.17 TWD 50
Growth DCF
Growth DCF 16.09 TWD 22.28 TWD 33.16 TWD 80
Rev-Margin DCF 18.38 TWD 29.56 TWD 43.51 TWD 74
Economic Profit
Residual Income 21.87 TWD 25.58 TWD 41.83 TWD 76
ROIC Compounder 16.77 TWD 20.01 TWD 22.80 TWD 72
Growth Earnings
Growth-Adj P/E 32.33 TWD 46.18 TWD 60.04 TWD 68

Widest divergence: Multiples (47.88 TWD) versus Asset-Based (15.52 TWD). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 2.7B TWD
Revenue growth (YoY) +0.6%
Net margin 16.2%
Return on equity 11.7%
Free cash flow 291M TWD FY2025
P/E ratio 13.8
More key figures
Operating margin 13.8%
EPS (TTM) 3.04 TWD
Dividend yield 6.4%
EPS growth (YoY) -0.1%
Net debt 2.0B TWD FY2025

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

Quality Score breakdown

Overall quality 52/100

Of which business quality 52 · Market factors (momentum, volatility) 44

Profitability 42
Margins and returns on capital today
Quality Growth 32
Are margins and returns improving?
Cashflow 63
Earnings quality: real cash, not paper profit
Fin. Strength 55
Balance sheet, leverage, solvency risk
Investment 67
Disciplined investing over empire-building
Low Volatility 100
Calm price path (market factor)
Momentum 27
Price trend over the last 3–12 months (market factor)
52W Momentum 10
Distance to the 52-week high (market factor)
Net Issuance 55
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

Huxen Corporation engages in sales, import, export, repair, and rental of office equipment, fax machines, and communication products in Taiwan.

Full company description

Huxen Corporation engages in sales, import, export, repair, and rental of office equipment, fax machines, and communication products in Taiwan. The company offers RICOH photocopiers, multifunctional business machines, laser printers, digital printing press, large image output device, quickprinters, telephone switchboard and exchange peripherals, firewall brands, network switch, and wireless base station. It also provides cybersecurity management system, print volume management system, process management system, printing application system, video conferencing system, electronic whiteboard, cloud-based human resources system, and temperature measurement and facial recognition system. In addition, the company offers IT service management, cloud, communication, and software solutions. Further, it involves in buying, selling, repair, and leasing of business machine and equipment. Huxen Corporation was founded in 1984 and is based in Taipei, Taiwan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Huxen Corporation reported revenue of 2.7B TWD in FY2025 versus 3.9B TWD in FY2021, a compound −8.5%/yr. Reported net income was 440M TWD in FY2025, compounding −5.4%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
2.7B TWD
Latest YoY
−1.5%
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.
−5.2%
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.
−7.7%
Avg. growth/yr (23Y) 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.
+3.6%
Revenue −8.5%/yr
FY21 3.9B TWD
FY22 3.2B TWD
FY23 2.9B TWD
FY24 2.8B TWD
FY25 2.7B TWD
Net income −5.4%/yr
FY21 549M TWD
FY22 561M TWD
FY23 490M TWD
FY24 473M TWD
FY25 440M TWD
Character of growth · EPS growth decomposed (2014-2025) −0.5 % p.a.
Revenue per share −0.6 pp

of which total revenue −0.5 pp · buybacks/dilution −0.1 pp

EBIT margin +0.8 pp
Tax rate −0.5 pp
Residual (interest, one-offs) −0.2 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). "Huxen Corporation Fair Value". https://www.fairvalue-calculator.com/stock/2433

Peer Group

Business Equipment & Supplies · 72 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 52 · Below median
Fair Value upside −8% · Below median
Return on equity (TTM) 12% · Top 25%
Return on assets 4% · Above median
Net margin (TTM) 16% · Top 25%
Operating margin (TTM) 14% · Top 25%
Revenue growth 1% · Below median
Dividend yield (TTM) 6.4% · Top 25%
Debt / equity 0.33× · Higher than 75% of peers

Valuation Multiples vs Business Equipment & Supplies median · lower = cheaper

P/E (TTM) 13.8× · Cheaper than median
P/B 1.81× · Pricier than median
P/S (TTM) 2.22× · Pricier than 75% of peers
P/FCF 0.6× · Cheaper than median
EV/EBITDA 4.4× · Cheaper than 75% of peers
PEG 0.79× · 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 23 · sector 33
FUTURE 3 · sector 18
PAST 47 · sector 21
HEALTH 84 · sector 99
DIVIDEND 100 · sector 52

Insider activity: 42/100

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 Business Equipment & Supplies stocks, each showing price versus our Fair Value estimate (as of Jul 21, 2026).

Stock Price Fair Value vs Fair Value
Ricoh Company RICO ¥15.33 ¥17.99 +17%
GRG Banking Equipment Co 002152 ¥10.08 ¥6.90 -32%
Shanghai M&G Stationery Inc 603899 ¥21.45 ¥30.05 +40%
XGD Inc 300130 ¥19.90 ¥15.67 -21%
DOMS Industries Limited DOMS ₹2,260 ₹782.96 -65%
Hengbao Co 002104 ¥9.20 ¥1.66 -82%
Shaanxi Fenghuo Electronics Co 000561 ¥6.99 ¥1.75 -75%
Shenzhen Comix Group 002301 ¥7.30 ¥3.11 -57%
Shandong New Beiyang Information Technology Co 002376 ¥6.00 ¥1.73 -71%
Qingdao Hiron Commercial Cold Chain Co 603187 ¥11.92 ¥21.12 +77%

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Frequently asked questions

Is Huxen Corporation (2433) overvalued or undervalued?
As of Jul 21, 2026, our model estimates a fair value of 38.64 TWD versus a price of 41.90 TWD, about −8% (fairly valued).
What is the fair value of 2433?
Our model-based fair value for Huxen Corporation is 38.64 TWD (as of Jul 21, 2026), built from audited fundamentals. The current price is 41.90 TWD.
What is the quality score of 2433?
Huxen Corporation has a Quality Score of 52/100. 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 Huxen Corporation (2433)?
Huxen Corporation reported trailing-twelve-month revenue of about 2.7B TWD (latest available figure, as of Jul 21, 2026).
What is the net profit margin of 2433?
The net profit margin of Huxen Corporation is about 16.2%, meaning it keeps roughly 16.2% of revenue as net income. Based on the latest reported figures.
Does Huxen Corporation pay a dividend?
Huxen Corporation currently shows a dividend yield of about 6.14% relative to its recent price (as of Jul 21, 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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