Crowell Development Corp (2528) Fair Value & Analysis
Real Estate · TW · Market cap 9.8B TWD
Fair value as of: Jul 23, 2026
From 14 valuation models · updated 18 days ago
Fair value updated Jul 23, 2026, revised from 52.25 TWD to 52.51 TWD (+0.5%) since Jun 26, 2026. Share price −7.6% over the past month.
A solid business, screening 153% undervalued on our models.
What matters now
- The price is below even our cautious bear case (33.78 TWD). The market is more pessimistic than our downside scenario.
- The model range is unusually wide (33.78 TWD to 157.44 TWD). The outcome hinges heavily on assumptions, so read the point estimate with caution.
- Solid quality (62/100) at a price below fair value, the discount is the argument here, not the business quality.
- As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Price vs Fair Value (5 years)
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 14.55 TWD – 54.90 TWD · fair‑value band 33.78 TWD – 157.44 TWD · the 20.75 TWD price screens below the 52.51 TWD fair value. Dashed = 300-day average. As of Jul 23, 2026.
Analysis
Crowell Development Corp (2528) currently trades at 20.75 TWD, while our model-based Fair Value estimate is 52.51 TWD, implying the stock looks roughly 153.1% undervalued today. The Quality Score stands at 62/100 (solid quality), in the Real Estate 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, Crowell Development Corp generated revenue of 9.6B TWD at a net margin of 10.9%. It earns a return on equity of 14.9%. Net debt stands at 9.8B TWD. The stock trades on a trailing P/E of 6.5. Fundamentals as of Jul 23, 2026
Our scenario range runs from 33.78 TWD (bear case) to 157.44 TWD (bull case); at 20.75 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 38% below its 52-week high and 4% above its 52-week low, currently below its 200-day average. For context, the median of 10 Real Estate peers we cover trades at -2% fair-value upside, at 153%, 2528 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.
All 14 models by family
Widest divergence: DCF Models (182.57 TWD) versus Asset-Based (12.13 TWD). Highest evidence: Growth DCF (80).
Notify me when 2528 reaches fair value
Free. You confirm by email (double opt-in) and can unsubscribe anytime in one click.
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 23, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 63 · Market factors (momentum, volatility) 32
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
Crowell Development Corp. engages in the construction, leasing, and sale of commercial and residential buildings in Taiwan.
Full company description
Crowell Development Corp. engages in the construction, leasing, and sale of commercial and residential buildings in Taiwan. It is also involved in the investment and development of parking lots; operation of playgrounds, amusement parks, sports stadiums, supermarkets, warehouses, restaurants, coffee shops, and hotels; manufacture and sale of building materials; sale and import and export of decoration and building materials; and department store sales business. The company was founded in 1985 and is based in Taoyuan City, Taiwan.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Crowell Development Corp reported revenue of 12.3B TWD in FY2025 versus 3.2B TWD in FY2021, a compound +40.0%/yr. Reported net income was 1.5B TWD in FY2025, compounding +33.0%/yr from FY2021.
Watch 2528: get an alert when its fair value changes →
Peer Group
Real Estate Services · 520 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.
Valuation Multiples vs Real Estate Services median · lower = cheaper
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.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Real Estate Services stocks, each showing price versus our Fair Value estimate (as of Jul 23, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Vingroup Joint Stock Company VIC | 223,000 VND | 25,731 VND | -88% |
| KE Holdings 2423 | HK$44.76 | HK$18.03 | -60% |
| Swire Properties Limited 1972 | HK$23.90 | HK$18.75 | -22% |
| Plaza S.A MALLPLAZA | 3,725 CLP | 5,571 CLP | +50% |
| SAGAA SAGAA | kr 170.00 | kr 75.55 | -56% |
| Cencosud Shopping S.A CENCOMALLS | 2,324 CLP | 2,976 CLP | +28% |
| PT Sarana Menara Nusantara Tbk. owns and TOWR | 372.00 IDR | 1,208 IDR | +225% |
| PT Metropolitan Kentjana Tbk MKPI | 20,975 IDR | 19,160 IDR | -9% |
| PT Bangun Kosambi Sukses Tbk, CBDK | 3,530 IDR | 3,464 IDR | -2% |
| IRSA Inversiones y Representaciones Sociedad Anónima, IRSA | 2,495 ARS | 3,998 ARS | +60% |
Compare Crowell Development Corp with another stock
Price, fair value, quality and upside side by side.
Explore undervalued stocks
More undervalued Real Estate stocks →
Frequently asked questions
Is Crowell Development Corp (2528) overvalued or undervalued?
What is the fair value of 2528?
What is the quality score of 2528?
What is the revenue of Crowell Development Corp (2528)?
What is the net profit margin of 2528?
Does Crowell Development Corp pay a dividend?
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.
Track Crowell Development Corp and try Pro for 14 days
One email gets you 14 days of full Pro (review alerts, the 35,000+ stock screener, the diversification check) plus the monthly Top-25 report of the most undervalued quality stocks. No card, cancel anytime.
Zero risk: nothing is ever charged. After 14 days you decide whether to stay.