New Asia Construction & Development Corp (2516) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of New Asia Construction & Development Corp stock TWD 23.51, price TWD 16.20, upside +45.1%, quality 60 out of 100. Rating: undervalued. Calculated from audited financials with 23 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 8, 2026.
How to read this chart
60‑month range 4.71 TWD – 25.50 TWD · fair‑value band 19.30 TWD – 27.73 TWD · the 16.20 TWD price screens below the 23.51 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. As of Nov 8, 2026.
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New Asia Construction & Development Corp., together with its subsidiaries, provides public construction services for governments in Taiwan.
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The company heavy machinery contracting for civil engineering, land and community development business, and construction residential and commercial buildings and their leasing and sales business, repair and leasing of heavy machinery, ready-mixed concrete, asphalt concrete manufacturing and sales; and investment business.
It also engages in the real estate development and construction businesses. New Asia Construction & Development Corp. was founded in 1967 and is based in Taipei, Taiwan.
Stock analysis
New Asia Construction & Development Corp (2516) currently trades at 16.20 TWD, while our model-based Fair Value estimate is 23.51 TWD, implying the stock looks roughly 31% undervalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of 52.59 TWD per share, and 18 of the 23 models we run sit above the 16.20 TWD price.
Bear case: the Economic Profit group reads lowest at 12.71 TWD, and 5 of the 23 models stay below the price. Data coverage for this calculation is low.
Scenario range: 19.30 TWD (bear) to 27.73 TWD (bull), the price of 16.20 TWD sits below 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 60/100 (solid quality), in the Industrials sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
New Asia Construction & Development Corp reported revenue of 10.3B TWD in FY2025 versus 8.0B TWD in FY2021, a compound +6.5%/yr. Reported net income was 277M TWD in FY2025, compounding +24.0%/yr from FY2021.
Key figures
Market cap 3.7B TWD (≈ $111M) Micro · P/E ratio 10.7 · P/S ratio 0.40 · EPS (TTM) 1.51 TWD · Net margin 3.7% · Return on equity 16.9% · Return on assets (EBIT) −0.7% (5-year average) · Operating margin 3.7%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 38 out of 100 (low confidence).
What moves the price
The share trades about 1% below its 52-week high and 34% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −42% fair-value upside, at 45%, 2516 screens cheaper than that median.
Fair Value models
Bear19.30 TWDFair Value 23.51 TWDBull27.73 TWD
Price 16.20 TWD · Upside +45.1%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (1.29 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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = 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.87/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+7.5%
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.
+14.7%
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.
+10.4%
Start year 2020 (pandemic). Over 10 years: +2.1% a year
Revenue growth 23 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%
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What shareholders gained per year (last 5 years), in TWD ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in TWD: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+29.9%
Earnings growth per share plus dividend.
Earnings per share, growth per year+29.9%
Dividend (yield on the price)0.0%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.29.9% vs 8.7%, picking up
Profit margin 2020 to 2025 ⓘ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.−11% → 2%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
Little optimism in the price
The price assumes less 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).
−40.0%
The company could shrink this much every year for the next five years and today's price would still be justified.
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 −40.9% a year for the price.
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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.Engineering & Construction · 790 stocks
Beats the industry median on 8/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score60 · Top 25%
Fair Value upside+45.1% · Above median
Profitability
Return on equity (12 months)16.9% · Top 25%
Return on assets3.5% · Above median
Net margin (12 months)3.7% · Below median
Operating margin (12 months)3.7% · Below median
Growth and dividend
Revenue growth (quarter YoY)−20.3% · Bottom 25%
Balance sheet
Debt / equity0.17× · Above median
Valuation Multiplesvs Engineering & Construction median · lower = cheaper
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). "New Asia Construction & Development Corp Fair Value". https://www.fairvalue-calculator.com/stock/2516
Frequently asked questions
Is New Asia Construction & Development Corp (2516) overvalued or undervalued?
As of Nov 8, 2026, our model estimates a fair value of 23.51 TWD versus a price of 16.20 TWD, about +45% upside (undervalued).
What is the fair value of 2516?
Our model-based fair value for New Asia Construction & Development Corp is 23.51 TWD (as of Nov 8, 2026), built from audited fundamentals. The current price: 16.20 TWD.
What is the quality score of 2516?
New Asia Construction & Development Corp has a Quality Score of 60/100. 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 New Asia Construction & Development Corp (2516)?
Our model-based price target is the fair value of 23.51 TWD (as of Nov 8, 2026) from 23 valuation models. Cautious scenario 19.30 TWD, optimistic scenario 27.73 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the New Asia Construction & Development Corp stock forecast for 2026?
Our models put fair value at 23.51 TWD, about +45% upside versus a price of 16.20 TWD (undervalued). Cautious scenario 19.30 TWD, optimistic scenario 27.73 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of New Asia Construction & Development Corp (2516)?
New Asia Construction & Development Corp reported trailing-twelve-month revenue of about 9.2B TWD (latest available figure, as of Nov 8, 2026).
What growth is priced into New Asia Construction & Development Corp (2516)?
For today's price to be fair in a discounted-cash-flow model, New Asia Construction & Development Corp would have to grow free cash flow by -40.0 % per year for five years (discount rate 11.8 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +10.4 % per year. As of Nov 8, 2026.
What discount rate (WACC) does the fair value of 2516 use?
Our models discount New Asia Construction & Development Corp at 11.8 %: a base by market capitalisation (micro), damped by beta 0.05, 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 New Asia Construction & Development Corp that is -40.0 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (11.8 %) and the same formula as our fair value.
How much growth has New Asia Construction & Development Corp (2516) delivered so far?
Over the past 5 years revenue at New Asia Construction & Development Corp grew +10.4 % a year. The price currently implies free-cash-flow growth of -40.0 % per 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 New Asia Construction & Development Corp (2516) growing?
The median revenue growth in the sector is +7.8 % a year. That is the yardstick for the growth priced into New Asia Construction & Development Corp (-40.0 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of New Asia Construction & Development Corp (2516)?
The free-cash-flow yield on the price is 31.89 %: that much free cash flow New Asia Construction & Development Corp produces per unit of market value. When it exceeds the discount rate of our models (11.8 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of New Asia Construction & Development Corp (2516)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For New Asia Construction & Development Corp it is 23.51 TWD per share (as of Nov 8, 2026), against a price of 16.20 TWD. It is the blended result of 23 valuation models in 7 families (DCF Models, Earnings-Based, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is New Asia Construction & Development Corp stock overvalued or undervalued in 2026?
As of Nov 8, 2026, 2516 trades below its calculated fair value: price 16.20 TWD, fair value 23.51 TWD, a gap of about +45% (undervalued). 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 2516?
No. The price is what the market pays today (16.20 TWD); the fair value is what the company's own numbers justify (23.51 TWD). For New Asia Construction & Development Corp the two are 7.31 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is New Asia Construction & Development Corp worth?
The market values New Asia Construction & Development Corp at about 3.7B TWD (market capitalisation, as of Nov 8, 2026). Per share that is 16.20 TWD; our models calculate a fair value of 23.51 TWD per share.
What do the bullish and bearish scenarios say about 2516?
Our models span a range for New Asia Construction & Development Corp: cautious scenario 19.30 TWD, base 23.51 TWD, optimistic 27.73 TWD per share (as of Nov 8, 2026, price 16.20 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 2516?
New Asia Construction & Development Corp trades at a price-to-earnings ratio of 10.7 (as of Nov 8, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 23.51 TWD is built from several models across several years. Median P/E at fiscal year-end, 7 fiscal years (2016 to 2025), reported earnings: 18.3. Other multiples: P/B 1.8, P/S 0.4, EV/EBITDA 5.6.
How solid is the balance sheet of New Asia Construction & Development Corp (2516)?
Balance-sheet figures for New Asia Construction & Development Corp (as of Nov 8, 2026): return on equity 16.9%, debt of 0.17 per unit of equity. They feed the Quality Score of 60/100, which measures business quality independently of the share price.
How far is 2516 from its 52-week high?
New Asia Construction & Development Corp trades at 16.20 TWD, about 1% below its 52-week high of 16.30 TWD and 34% above the low of 12.05 TWD (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 23.51 TWD is for.
Which stocks are comparable to New Asia Construction & Development Corp?
From the same area (Industrials) we also value Quanta Services, Inc, Vinci SA, Larsen & Toubro Limited, Comfort Systems USA, Inc, 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 New Asia Construction & Development Corp stock attractive at the current price?
The data as of Nov 8, 2026: price 16.20 TWD, calculated fair value 23.51 TWD (+45%), Quality Score 60/100, from 23 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 2516 calculated?
We run New Asia Construction & Development Corp through 23 models from 7 families: DCF Models, Earnings-Based, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of 23.51 TWD builds on their evidence-weighted average, 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 13.3% above its aggregate fair value. New Asia Construction & Development Corp currently trades 31% below its own fair value, and the market average says nothing about that. 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 New Asia Construction & Development Corp (2516)?
The closing price on Nov 6, 2026 was 16.20 TWD. Our model-based fair value is 23.51 TWD, about +45% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with New Asia Construction & Development Corp right now?
The price is below even our cautious bear case (19.30 TWD). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid quality (60/100) at a price below fair value, the discount is the argument here, not the business quality.
Where does the earnings growth of New Asia Construction & Development Corp (2516) come from?
Earnings per share at New Asia Construction & Development Corp grew +5.6 % a year from 2014 to 2025. Broken into its drivers: revenue per share −0.5 %, EBIT margin +2.7 %, tax rate +1.3 %, residual (interest, one-offs) +1.9 %. 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 New Asia Construction & Development Corp
How large is the market capitalisation of New Asia Construction & Development Corp (2516)?
The market capitalisation of New Asia Construction & Development Corp is 3.7B TWD (≈ $111M). 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 New Asia Construction & Development Corp (2516)?
The price-to-sales ratio of New Asia Construction & Development Corp is 0.40 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of New Asia Construction & Development Corp (2516)?
Earnings per share at New Asia Construction & Development Corp are 1.51 TWD (price ÷ EPS = P/E 10.7). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of New Asia Construction & Development Corp (2516)?
The net margin of New Asia Construction & Development Corp is 3.7% (last twelve months). 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 New Asia Construction & Development Corp (2516)?
The return on equity (ROE) of New Asia Construction & Development Corp is 16.9% (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 New Asia Construction & Development Corp (2516)?
On an EBIT basis the return on assets of New Asia Construction & Development Corp is −0.7% (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 New Asia Construction & Development Corp (2516)?
The operating margin of New Asia Construction & Development Corp is 3.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at New Asia Construction & Development Corp (2516)?
Revenue at New Asia Construction & Development Corp is growing −20.3% versus a year earlier (3y avg +14.7%). 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 New Asia Construction & Development Corp (2516)?
Earnings per share at New Asia Construction & Development Corp are growing +411% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does New Asia Construction & Development Corp (2516) hold?
New Asia Construction & Development Corp holds more cash than debt, 1.7B TWD net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Thin data
Nov 8, 2026