Crowell Development Corp (2528) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Crowell Development Corp TWD 20.08, price TWD 19.55, upside +2.7%, quality 62 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Crowell Development Corp. engages in the construction, leasing, and sale of commercial and residential buildings in Taiwan.
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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.
Stock analysis
Crowell Development Corp (2528) currently trades at 19.55 TWD, while our model-based Fair Value estimate is 20.08 TWD, implying the stock looks roughly 2.7% fairly valued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 166.98 TWD per share, and 13 of the 14 models we run sit above the 19.55 TWD price.
Bear case: the Asset-Based group reads lowest at 12.13 TWD, and 1 of the 14 models stay below the price. Evidence for this calculation is low.
Scenario range: 10.91 TWD (bear) to 25.94 TWD (bull), the price of 19.55 TWD sits inside 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 62/100 (solid quality), in the Real Estate sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
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.
Key figures
Market cap 9.8B TWD (≈ $308M) · P/E ratio 5.6 · P/S ratio 0.70 · EPS (TTM) 3.48 TWD · Dividend yield 7.7% · Net margin 12.5% · Return on equity 14.9% · Return on assets (EBIT) 4.2%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 47 out of 100 (low confidence).
What moves the price
The share trades about 39% below its 52-week high and 2% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Real Estate peers we cover trades at −37% fair-value upside, at 3%, 2528 screens cheaper than that median.
Fair Value models
Bear 10.91 TWDFair Value 20.08 TWDBull 25.94 TWD
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (1.45 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.Evidence ⓘEvidence = 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.92/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+130.3%
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.
+92.2%
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.
+59.9%
Start year 2020 (pandemic). Over 10 years: +56.9% 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.
+16.6%
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What shareholders gained per year (last 5 years), in TWD (mathematically smoothed) ⓘ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. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip. 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.
+37.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year+29.9%
Dividend (yield on the price)7.7%
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.22% vs 34%, slowing
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.−17% → 16%
2025 sits 513% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
Compare Crowell Development Corp with another stock
Price, fair value, quality and upside side by side.
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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.Real Estate Services · 546 stocks
Beats the industry median on 9/12 measures
Overall it ranks above its industry peers.
Valuation
Quality Score62 · Top 25%
Fair Value upside+3% · Below median
Profitability
Return on equity (TTM)15% · Top 25%
Return on assets3% · Top 25%
Net margin (TTM)11% · Above median
Growth and dividend
Dividend yield (TTM)7.7% · Top 25%
Balance sheet
Debt / equity0.39× · Above median
Valuation Multiplesvs Real Estate Services 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). "Crowell Development Corp Fair Value". https://www.fairvalue-calculator.com/stock/2528
Frequently asked questions
Is Crowell Development Corp (2528) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 20.08 TWD versus a price of 19.55 TWD, about +3% upside (fairly valued).
What is the fair value of 2528?
Our model-based fair value for Crowell Development Corp is 20.08 TWD (as of Sep 24, 2026), built from audited fundamentals. The current price: 19.55 TWD.
What is the quality score of 2528?
Crowell Development Corp has a Quality Score of 62/100. 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 Crowell Development Corp (2528)?
Our model-based price target is the fair value of 20.08 TWD (as of Sep 24, 2026) from 14 valuation models. Cautious scenario 10.91 TWD, optimistic scenario 25.94 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Crowell Development Corp stock forecast for 2026?
Our models put fair value at 20.08 TWD, about +3% upside versus a price of 19.55 TWD (fairly valued). Cautious scenario 10.91 TWD, optimistic scenario 25.94 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Crowell Development Corp (2528)?
Crowell Development Corp reported trailing-twelve-month revenue of about 9.6B TWD (latest available figure, as of Sep 24, 2026).
Does Crowell Development Corp pay a dividend?
Crowell Development Corp currently shows a dividend yield of about 7.67% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of Crowell Development Corp (2528)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Crowell Development Corp it is 20.08 TWD per share (as of Sep 24, 2026), against a price of 19.55 TWD. It is the blended result of 14 valuation models (cash flow, earnings, asset, dividend).
Is Crowell Development Corp stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 2528 trades below its calculated fair value: price 19.55 TWD, fair value 20.08 TWD, a gap of about +3% (fairly valued). 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 2528?
No. The price is what the market pays today (19.55 TWD); the fair value is what the company's own numbers justify (20.08 TWD). For Crowell Development Corp the two are 0.5340 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Crowell Development Corp worth?
The market values Crowell Development Corp at about 9.8B TWD (market capitalisation, as of Sep 24, 2026). Per share that is 19.55 TWD; our models calculate a fair value of 20.08 TWD per share.
What do the bullish and bearish scenarios say about 2528?
Our models span a range for Crowell Development Corp: cautious scenario 10.91 TWD, base 20.08 TWD, optimistic 25.94 TWD per share (as of Sep 24, 2026, price 19.55 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 2528?
Crowell Development Corp trades at a price-to-earnings ratio of 5.6 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 20.08 TWD is built from several models across several years. Other multiples: P/B 1.2, P/S 1.0, EV/EBITDA 9.0.
How solid is the balance sheet of Crowell Development Corp (2528)?
Balance-sheet figures for Crowell Development Corp (as of Sep 24, 2026): return on equity 14.9%, debt of 0.39 per unit of equity. They feed the Quality Score of 62/100, which measures business quality independently of the share price.
How far is 2528 from its 52-week high?
Crowell Development Corp trades at 19.55 TWD, about 39% below its 52-week high of 32.00 TWD and 2% above the low of 19.25 TWD (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 20.08 TWD is for.
Which stocks are comparable to Crowell Development Corp?
From the same area (Real Estate) we also value Vingroup Joint Stock Company, CBRE Group, Vonovia SE, Cellnex Telecom, S.A, 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 Crowell Development Corp stock attractive at the current price?
The data as of Sep 24, 2026: price 19.55 TWD, calculated fair value 20.08 TWD (+3%), Quality Score 62/100, from 14 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 2528 calculated?
We run Crowell Development Corp through 14 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of 20.08 TWD, 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 13.2 % above its aggregate fair value. Crowell Development Corp currently trades 3 % 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 Crowell Development Corp (2528)?
The closing price on Sep 24, 2026 was 19.55 TWD. Our model-based fair value is 20.08 TWD, about +3% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Crowell Development Corp right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. A fairly wide model range (10.91 TWD to 25.94 TWD) leaves room in how you read the outcome. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual. As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Key figures of Crowell Development Corp
How large is the market capitalisation of Crowell Development Corp (2528)?
The market capitalisation of Crowell Development Corp is 9.8B TWD (≈ $308M). 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 Crowell Development Corp (2528)?
The price-to-sales ratio of Crowell Development Corp is 0.70 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Crowell Development Corp (2528)?
Earnings per share at Crowell Development Corp are 3.48 TWD (price ÷ EPS = P/E 5.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Crowell Development Corp (2528)?
The dividend yield of Crowell Development Corp is 7.7% (payout 43.1%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Crowell Development Corp (2528)?
The net margin of Crowell Development Corp is 12.5% (fiscal year 2025). 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 Crowell Development Corp (2528)?
The return on equity (ROE) of Crowell Development Corp is 14.9% (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 Crowell Development Corp (2528)?
On an EBIT basis the return on assets of Crowell Development Corp is 4.2% (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 Crowell Development Corp (2528)?
The operating margin of Crowell Development Corp is −399% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast are earnings growing at Crowell Development Corp (2528)?
Earnings per share at Crowell Development Corp are growing −91.4% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Crowell Development Corp (2528) generate?
The free cash flow of Crowell Development Corp is 4.4B TWD (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Crowell Development Corp (2528) carry?
The net debt of Crowell Development Corp is 9.8B TWD (fiscal year 2025, ≈ 2.2 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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