Delpha Construction Co Ltd (2530) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Delpha Construction Co Ltd TWD 47.99, price TWD 20.15, upside +138.2%, quality 56 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range 11.37 TWD – 52.83 TWD · fair‑value band 29.74 TWD – 76.55 TWD · the 20.15 TWD price screens below the 47.99 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 4 fiscal years are left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Sep 24, 2026.
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Delpha Construction Co.,Ltd. constructs commercial buildings in Taiwan. It operates through three segments: Construction Department; Movable and Immovable Property Investment and Development Department; and Building Department. It provides commissioning construction services to build residential housing and commercial buildings for rent.
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Delpha Construction Co.,Ltd. constructs commercial buildings in Taiwan. It operates through three segments: Construction Department; Movable and Immovable Property Investment and Development Department; and Building Department. It provides commissioning construction services to build residential housing and commercial buildings for rent. It is also involved in residential and building development, leasing, and sales, as well as specific zones. In addition, it engages in contracting, operation, and investment of civil engineering and construction projects. Additionally, it provides interior decoration and real estate brokerage services; and engages in investment related businesses. The company was founded in 1949 and is based in Taipei, Taiwan.
Stock analysis
Delpha Construction Co Ltd (2530) currently trades at 20.15 TWD, while our model-based Fair Value estimate is 47.99 TWD, implying the stock looks roughly 58.0% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 59.69 TWD per share, and 14 of the 16 models we run sit above the 20.15 TWD price.
Bear case: the Asset-Based group reads lowest at 8.03 TWD, and 2 of the 16 models stay below the price. Evidence for this calculation is low.
Scenario range: 29.74 TWD (bear) to 76.55 TWD (bull), the price of 20.15 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 56/100 (solid quality), in the Industrials sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Delpha Construction Co Ltd reported revenue of 6.3B TWD in FY2025 versus 8.7M TWD in FY2021, a compound +419.3%/yr. Reported net income was 1.7B TWD in FY2025.
Key figures
Market cap 17.7B TWD (≈ $555M) · P/E ratio 10.1 · P/S ratio 2.72 · EPS (TTM) 1.99 TWD · Dividend yield 9.2% · Net margin 26.8% · Return on equity 15.9% · Return on assets (EBIT) 3.7%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 38 out of 100 (medium confidence).
What moves the price
The share trades about 34% below its 52-week high and 12% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −31% fair-value upside, at 138%, 2530 screens cheaper than that median.
Fair Value models
Bear 29.74 TWDFair Value 47.99 TWDBull 76.55 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 (0.1031 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
+4.0%
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.
+47.0%
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.
+135.6%
Start year 2020 (pandemic). Over 10 years: +7.0% 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.
+9.9%
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What shareholders gained per year (last 3 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 3 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.
+73.7%
Earnings growth per share plus dividend.
Earnings per share, growth per year+64.5%
Dividend (yield on the price)9.2%
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.−87% → 34%
2025 sits 219% above its own trend. The rate follows the median trend of the last 3 years, not that single year.
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).
+9.4%
Yearly growth needed for the next five years to justify today's price.
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 +7.7% a year for the price.
Compare Delpha Construction Co Ltd 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.Engineering & Construction · 836 stocks
Beats the industry median on 10/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score57 · Above median
Fair Value upside+138% · Top 25%
Profitability
Return on equity (TTM)16% · Top 25%
Return on assets4% · Above median
Net margin (TTM)26% · Top 25%
Operating margin (TTM)−2% · Bottom 25%
Growth and dividend
Revenue growth16% · Above median
Dividend yield (TTM)9.2% · Top 25%
Balance sheet
Debt / equity0.13× · Above median
Valuation Multiplesvs Engineering & Construction median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Delpha Construction Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/2530
Frequently asked questions
Is Delpha Construction Co Ltd (2530) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 47.99 TWD versus a price of 20.15 TWD, about +138% upside (undervalued).
What is the fair value of 2530?
Our model-based fair value for Delpha Construction Co Ltd is 47.99 TWD (as of Sep 24, 2026), built from audited fundamentals. The current price: 20.15 TWD.
What is the quality score of 2530?
Delpha Construction Co Ltd has a Quality Score of 56/100. 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 Delpha Construction Co Ltd (2530)?
Our model-based price target is the fair value of 47.99 TWD (as of Sep 24, 2026) from 16 valuation models. Cautious scenario 29.74 TWD, optimistic scenario 76.55 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Delpha Construction Co Ltd stock forecast for 2026?
Our models put fair value at 47.99 TWD, about +138% upside versus a price of 20.15 TWD (undervalued). Cautious scenario 29.74 TWD, optimistic scenario 76.55 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Delpha Construction Co Ltd (2530)?
Delpha Construction Co Ltd reported trailing-twelve-month revenue of about 6.4B TWD (latest available figure, as of Sep 24, 2026).
Does Delpha Construction Co Ltd pay a dividend?
Delpha Construction Co Ltd currently shows a dividend yield of about 9.18% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Delpha Construction Co Ltd (2530)?
For today's price to be fair in a discounted-cash-flow model, Delpha Construction Co Ltd would have to grow free cash flow by +9.4 % 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 +135.6 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 2530 use?
Our models discount Delpha Construction Co Ltd at 11.8 %: a base by market capitalisation (small), 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 Delpha Construction Co Ltd that is +9.4 % per year a year over ten years, using the same discount rate (11.8 %) and the same formula as our fair value.
How much growth has Delpha Construction Co Ltd (2530) delivered so far?
Over the past 5 years revenue at Delpha Construction Co Ltd grew +135.6 % a year. The price currently implies +9.4 % per year free-cash-flow growth a 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 Delpha Construction Co Ltd (2530) growing?
The median revenue growth in the sector is +1.8 % a year. That is the yardstick for the growth priced into Delpha Construction Co Ltd (+9.4 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Delpha Construction Co Ltd (2530)?
The free-cash-flow yield on the price is 10.79 %: that much free cash flow Delpha Construction Co Ltd 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 Delpha Construction Co Ltd (2530)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Delpha Construction Co Ltd it is 47.99 TWD per share (as of Sep 24, 2026), against a price of 20.15 TWD. It is the blended result of 16 valuation models (cash flow, earnings, asset, dividend).
Is Delpha Construction Co Ltd stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 2530 trades below its calculated fair value: price 20.15 TWD, fair value 47.99 TWD, a gap of about +138% (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 2530?
No. The price is what the market pays today (20.15 TWD); the fair value is what the company's own numbers justify (47.99 TWD). For Delpha Construction Co Ltd the two are 27.84 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Delpha Construction Co Ltd worth?
The market values Delpha Construction Co Ltd at about 17.7B TWD (market capitalisation, as of Sep 24, 2026). Per share that is 20.15 TWD; our models calculate a fair value of 47.99 TWD per share.
What do the bullish and bearish scenarios say about 2530?
Our models span a range for Delpha Construction Co Ltd: cautious scenario 29.74 TWD, base 47.99 TWD, optimistic 76.55 TWD per share (as of Sep 24, 2026, price 20.15 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 2530?
Delpha Construction Co Ltd trades at a price-to-earnings ratio of 10.1 (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 47.99 TWD is built from several models across several years. Other multiples: P/B 1.8, P/S 2.8, EV/EBITDA 7.5.
How solid is the balance sheet of Delpha Construction Co Ltd (2530)?
Balance-sheet figures for Delpha Construction Co Ltd (as of Sep 24, 2026): return on equity 15.9%, debt of 0.13 per unit of equity. They feed the Quality Score of 56/100, which measures business quality independently of the share price.
How far is 2530 from its 52-week high?
Delpha Construction Co Ltd trades at 20.15 TWD, about 34% below its 52-week high of 30.58 TWD and 12% above the low of 18.00 TWD (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 47.99 TWD is for.
Which stocks are comparable to Delpha Construction Co Ltd?
From the same area (Industrials) we also value Quanta Services, Inc, Vinci SA, Comfort Systems USA, Inc, Larsen & Toubro Limited, 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 Delpha Construction Co Ltd stock attractive at the current price?
The data as of Sep 24, 2026: price 20.15 TWD, calculated fair value 47.99 TWD (+138%), Quality Score 56/100, from 16 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 2530 calculated?
We run Delpha Construction Co Ltd through 16 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 47.99 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 14.1 % above its aggregate fair value. Delpha Construction Co Ltd currently trades 138 % 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 Delpha Construction Co Ltd (2530)?
The closing price on Sep 24, 2026 was 20.15 TWD. Our model-based fair value is 47.99 TWD, about +138% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Delpha Construction Co Ltd right now?
The price is below even our cautious bear case (29.74 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 (56/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (29.74 TWD to 76.55 TWD) leaves room in how you read the outcome.
Where does the earnings growth of Delpha Construction Co Ltd (2530) come from?
Earnings per share at Delpha Construction Co Ltd grew −2.9 % a year from 2015 to 2025. Broken into its drivers: revenue per share −6.2 %, EBIT margin +5.0 %, tax rate −1.7 %, residual (interest, one-offs) +0.3 %. 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 Delpha Construction Co Ltd
How large is the market capitalisation of Delpha Construction Co Ltd (2530)?
The market capitalisation of Delpha Construction Co Ltd is 17.7B TWD (≈ $555M). 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 Delpha Construction Co Ltd (2530)?
The price-to-sales ratio of Delpha Construction Co Ltd is 2.72 (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 Delpha Construction Co Ltd (2530)?
Earnings per share at Delpha Construction Co Ltd are 1.99 TWD (price ÷ EPS = P/E 10.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Delpha Construction Co Ltd (2530)?
The dividend yield of Delpha Construction Co Ltd is 9.2% (payout 92.9%). 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 Delpha Construction Co Ltd (2530)?
The net margin of Delpha Construction Co Ltd is 26.8% (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 Delpha Construction Co Ltd (2530)?
The return on equity (ROE) of Delpha Construction Co Ltd is 15.9% (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 Delpha Construction Co Ltd (2530)?
On an EBIT basis the return on assets of Delpha Construction Co Ltd is 3.7% (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 Delpha Construction Co Ltd (2530)?
The operating margin of Delpha Construction Co Ltd is −2.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Delpha Construction Co Ltd (2530)?
Revenue at Delpha Construction Co Ltd is growing +15.6% versus a year earlier (3y avg +47.0%). 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 Delpha Construction Co Ltd (2530)?
Earnings per share at Delpha Construction Co Ltd are growing +100% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Delpha Construction Co Ltd (2530) carry?
The net debt of Delpha Construction Co Ltd is 12.4B TWD (fiscal year 2025, ≈ 6.5 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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