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Goldsun Building Materials Co (2504) Fair Value & Analysis

Basic Materials · TW · Market cap 36.8B TWD

GB Goldsun Building Materials Co 2504 · TW
Price30.75 TWD
Fair Value37.04 TWD
Upside+20.5%
Quality54/100
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Mixed Growth
Solidly profitable · 17.4% net margin
Low debt · generates free cash flow
8.18% dividend yield
Ranks above peers (10/15)
Wide moat 65/100
Evidence: High Range 28.71 TWD – 55.67 TWD Share as image

Fair value as of: Jul 21, 2026

From 24 valuation models · updated 20 days ago

Share price −4.7% over the past month.

A solid business, screening 20% undervalued on our models.

What matters now

  • Solid quality (54/100) at a price below fair value, the discount is the argument here, not the business quality.
  • A fairly wide model range (28.71 TWD to 55.67 TWD) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

56.80 TWD 17.00 TWD Fair Value 37.04 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 17.00 TWD – 56.80 TWD · fair‑value band 28.71 TWD – 55.67 TWD · the 30.75 TWD price screens below the 37.04 TWD fair value. Dashed = 300-day average. As of Jul 21, 2026.

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Analysis

Goldsun Building Materials Co (2504) currently trades at 30.75 TWD, while our model-based Fair Value estimate is 37.04 TWD, implying the stock looks roughly 20.5% undervalued today. The Quality Score stands at 54/100 (solid quality), in the Basic Materials 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, Goldsun Building Materials Co generated revenue of 22.2B TWD at a net margin of 17.4%. Revenue declined 6.0% year over year. It earns a return on equity of 13.8%. Net debt stands at 9.8B TWD. Fundamentals as of Jul 21, 2026

Our scenario range runs from 28.71 TWD (bear case) to 55.67 TWD (bull case); at 30.75 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 33% below its 52-week high, currently below its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -59% fair-value upside, at 20%, 2504 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 BearBaseBull Evidence
Highest evidence
Growth DCF 7.37 TWD 11.07 TWD 17.62 TWD 80
Residual Income 22.67 TWD 27.49 TWD 50.07 TWD 76
Rev-Margin DCF 11.90 TWD 20.45 TWD 30.99 TWD 74
All 24 models by family
DCF Models
FCF DCF 6.95 TWD 10.75 TWD 18.03 TWD 38
Owner Earnings 2.97 TWD 5.35 TWD 9.91 TWD 31
5Y Revenue Exit 11.90 TWD 20.30 TWD 32.59 TWD 39
5Y EBITDA Exit 20.58 TWD 35.09 TWD 54.32 TWD 41
5Y P/E Exit 22.98 TWD 39.16 TWD 58.41 TWD 38
10Y Revenue Exit 9.35 TWD 16.42 TWD 24.67 TWD 36
10Y EBITDA Exit 15.24 TWD 26.19 TWD 38.94 TWD 37
10Y P/E Exit 16.71 TWD 28.89 TWD 41.62 TWD 35
Earnings-Based
Graham-Dodd 22.44 TWD 38.21 TWD 46.62 TWD 54
EPV 29.18 TWD 34.66 TWD 39.46 TWD 59
Dividend Discount
Gordon GGM 25.78 TWD 32.32 TWD 39.14 TWD 70
DDM Multi-Stage 25.78 TWD 34.73 TWD 45.71 TWD 61
Multiples
P/E Multiple 42.08 TWD 56.10 TWD 70.13 TWD 63
P/S Multiple 21.54 TWD 28.72 TWD 35.90 TWD 58
P/B Multiple 42.08 TWD 56.10 TWD 70.13 TWD 55
EV/EBIT 41.77 TWD 56.94 TWD 72.11 TWD 53
EV/EBITDA 33.91 TWD 46.46 TWD 59.01 TWD 54
EV/Revenue 16.38 TWD 24.99 TWD 33.61 TWD 43
Asset-Based
NCAV (Graham) 11.51 TWD 15.42 TWD 23.01 TWD 50
Growth DCF
Growth DCF 7.37 TWD 11.07 TWD 17.62 TWD 80
Rev-Margin DCF 11.90 TWD 20.45 TWD 30.99 TWD 74
Economic Profit
Residual Income 22.67 TWD 27.49 TWD 50.07 TWD 76
ROIC Compounder 29.54 TWD 36.02 TWD 43.16 TWD 72
Growth Earnings
Growth-Adj P/E 29.98 TWD 42.82 TWD 55.67 TWD 68

Widest divergence: Multiples (46.46 TWD) versus Growth DCF (11.07 TWD). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 22.2B TWD
Revenue growth (YoY) -6.0%
Net margin 17.4%
Return on equity 13.8%
Free cash flow 1.2B TWD FY2025
P/E ratio 9.5
More key figures
Operating margin 21.9%
EPS (TTM) 3.29 TWD
Dividend yield 8.2%
EPS growth (YoY) -1.6%
Net debt 9.8B TWD FY2025

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

Quality Score breakdown

Overall quality 54/100

Of which business quality 52 · Market factors (momentum, volatility) 39

Profitability 48
Margins and returns on capital today
Quality Growth 37
Are margins and returns improving?
Cashflow 43
Earnings quality: real cash, not paper profit
Fin. Strength 72
Balance sheet, leverage, solvency risk
Investment 53
Disciplined investing over empire-building
Low Volatility 91
Calm price path (market factor)
Momentum 23
Price trend over the last 3–12 months (market factor)
52W Momentum 7
Distance to the 52-week high (market factor)
Net Issuance 60
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

Goldsun Building Materials Co., Ltd., together with its subsidiaries, engages in the production and sale of premixed concrete, cement, and calcium silicate board in Taiwan and Mainland China. It operates through Pre-Mixed Concrete Segment in Taiwan, Pre-Mixed Concrete Segment in Mainland China, and Others segments.

Full company description

Goldsun Building Materials Co., Ltd., together with its subsidiaries, engages in the production and sale of premixed concrete, cement, and calcium silicate board in Taiwan and Mainland China. It operates through Pre-Mixed Concrete Segment in Taiwan, Pre-Mixed Concrete Segment in Mainland China, and Others segments. The company also constructs civil and architectural construction projects; and provides international trading, warehousing, shipping, and tally packaging, interior decoration, and leisure frame management services. In addition, it rents real estate properties; operates hotels; and sells building materials. The company was formerly known as Goldsun Constructions Co., Ltd. Goldsun Building Materials Co., Ltd. was incorporated in 1954 and is headquartered in Taipei, Taiwan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Goldsun Building Materials Co reported revenue of 22.5B TWD in FY2025 versus 21.8B TWD in FY2021, a compound +0.8%/yr. Reported net income was 3.9B TWD in FY2025, compounding +8.1%/yr from FY2021.

Growth Quality 61/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
22.5B TWD
Latest YoY
+3.7%
Avg. growth/yr (3Y)
+1.9%
Avg. growth/yr (5Y)
+3.6%
Avg. growth/yr (23Y)
+3.3%
Revenue +0.8%/yr
FY21 21.8B TWD
FY22 21.3B TWD
FY23 21.0B TWD
FY24 21.7B TWD
FY25 22.5B TWD
Net income +8.1%/yr
FY21 2.8B TWD
FY22 4.1B TWD
FY23 3.5B TWD
FY24 4.6B TWD
FY25 3.9B TWD

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Cite: Fair Value Calculator (2026). "Goldsun Building Materials Co Fair Value". https://www.fairvalue-calculator.com/stock/2504

Peer Group

Building Materials · 254 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 54 · Above median
Fair Value upside +21% · Above median
Return on equity (TTM) 14% · Top 25%
Return on assets 7% · Top 25%
Net margin (TTM) 17% · Top 25%
Operating margin (TTM) 22% · Top 25%
Revenue growth -6% · Below median
Dividend yield (TTM) 8.2% · Top 25%
Debt / equity 0.31× · Higher than median

Valuation Multiples vs Building Materials median · lower = cheaper

P/E (TTM) 9.5× · Cheaper than 75% of peers
P/B 1.36× · Pricier than median
P/S (TTM) 1.66× · Pricier than 75% of peers
P/FCF 0.9× · Cheaper than median
EV/EBITDA 7.1× · Pricier than median
PEG 0.13× · 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 61 · sector 28
FUTURE 0 · sector 2
PAST 55 · sector 15
HEALTH 85 · sector 92
DIVIDEND 100 · sector 42

Insider activity: 48/100

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

Stock Price Fair Value vs Fair Value
CRH plc CRH $102.92 $70.57 -31%
UltraTech Cement Limited ULTRACEMCO ₹11,711 ₹4,719 -60%
China Jushi Co 600176 ¥54.52 ¥13.95 -74%
Grasim Industries Limited GRASIM ₹3,073 ₹1,245 -59%
CEMEX, S.A. CEMEXCPO 21.71 MXN 15.42 MXN -29%
Anhui Conch Cement Company 600585 ¥16.99 ¥26.14 +54%
Ambuja Cements Limited AMBUJACEM ₹435.25 ₹227.96 -48%
Shree Cement Limited SHREECEM ₹26,930 ₹8,215 -69%
TCC Group 1101B 43.70 TWD 10.48 TWD -76%
Taiwan Glass Ind. Corp 1802 53.30 TWD 13.98 TWD -74%

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Frequently asked questions

Is Goldsun Building Materials Co (2504) overvalued or undervalued?
As of Jul 21, 2026, our model estimates a fair value of 37.04 TWD versus a price of 30.75 TWD, about +20% (undervalued).
What is the fair value of 2504?
Our model-based fair value for Goldsun Building Materials Co is 37.04 TWD (as of Jul 21, 2026), built from audited fundamentals. The current price is 30.75 TWD.
What is the quality score of 2504?
Goldsun Building Materials Co has a Quality Score of 54/100. 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 Goldsun Building Materials Co (2504)?
Goldsun Building Materials Co reported trailing-twelve-month revenue of about 22.2B TWD (latest available figure, as of Jul 21, 2026).
What is the net profit margin of 2504?
The net profit margin of Goldsun Building Materials Co is about 17.4%, meaning it keeps roughly 17.4% of revenue as net income. Based on the latest reported figures.
Does Goldsun Building Materials Co pay a dividend?
Goldsun Building Materials Co currently shows a dividend yield of about 8.18% 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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