Da-Cin Construction Co (2535) Fair Value & Analysis
Industrials · TW · Market cap 22.8B TWD
Fair value as of: Jul 21, 2026
From 26 valuation models · updated 20 days ago
Share price +3.3% over the past month.
A solid business, screening 23% undervalued on our models.
What matters now
- A fairly wide model range (82.91 TWD to 156.01 TWD) leaves room in how you read the outcome.
- Our model range runs from 82.91 TWD (bear) to 156.01 TWD (bull), base 110.55 TWD. The closer the price sits to the lower half, the larger the margin of safety.
- Quality 72/100 (solid quality) with high evidence: the data supports the verdict.
Price vs Fair Value (5 years)
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 26.35 TWD – 96.70 TWD · fair‑value band 82.91 TWD – 156.01 TWD · the 90.10 TWD price screens below the 110.55 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 21, 2026.
Analysis
Da-Cin Construction Co (2535) currently trades at 90.10 TWD, while our model-based Fair Value estimate is 110.55 TWD, implying the stock looks roughly 22.7% undervalued today. The Quality Score stands at 72/100 (solid quality), in the Industrials 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, Da-Cin Construction Co generated revenue of 24.6B TWD at a net margin of 8.8%. Revenue grew 55.6% year over year. It earns a return on equity of 22.0%. Net debt stands at 1.1B TWD. Fundamentals as of Jul 21, 2026
Our scenario range runs from 82.91 TWD (bear case) to 156.01 TWD (bull case); at 90.10 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 2% below its 52-week high and 64% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at -45% fair-value upside, at 23%, 2535 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 26 models by family
Widest divergence: DCF Models (180.39 TWD) versus Asset-Based (26.66 TWD). Highest evidence: Growth DCF (80).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 21, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 71 · Market factors (momentum, volatility) 85
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
Da-Cin Construction Co.,Ltd. engages in the civil engineering and building construction in Taiwan, Singapore, Malaysia, and Vietnam. It operates through Engineering Department and Construction Department segments.
Full company description
Da-Cin Construction Co.,Ltd. engages in the civil engineering and building construction in Taiwan, Singapore, Malaysia, and Vietnam. It operates through Engineering Department and Construction Department segments. The company offers engineering, procurement, and construction services for roads, bridges, tunnels, hillside development, housing complexes, commercial office buildings, schools, hotels, hospitals, supermarkets, department stores, shopping centers, deep-excavation and high rises, other construction works, wafer factories, LCD panel factories, glass substrate factories, passive component factories, IC packaging factories, high-tech compounds, MRT, underground railways, and other transportation construction. It also offers land cooperation, real estate sales, and new home after sales services. In addition, the company engages in architectural information and technology; pipeline and electrical installation; engineering management-related business; builds public housing; real estate construction and infrastructure; construction, leasing, and sale of buildings; and management of investments in manufacturing and other industries. The company was incorporated in 1967 and is based in Taipei City, Taiwan.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Da-Cin Construction Co reported revenue of 22.1B TWD in FY2025 versus 14.8B TWD in FY2021, a compound +10.5%/yr. Reported net income was 1.7B TWD in FY2025, compounding +8.4%/yr from FY2021.
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Peer Group
Engineering & Construction · 837 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 Engineering & Construction 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 Engineering & Construction stocks, each showing price versus our Fair Value estimate (as of Jul 21, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Larsen & Toubro Limited LT | ₹3,815 | ₹1,994 | -48% |
| Samsung C&T Corporation 028260 | 346,000 KRW | 268,779 KRW | -22% |
| Hyundai Engineering & Construction Co 000720 | 99,000 KRW | 63,993 KRW | -35% |
| United Integrated Services Co 2404 | 1,250 TWD | 925.62 TWD | -26% |
| Samsung E&A Co 028050 | 42,550 KRW | 44,840 KRW | +5% |
| Rail Vikas Nigam Limited RVNL | ₹232.67 | ₹61.46 | -74% |
| Daewoo Engineering & Construction Co 047040 | 16,240 KRW | 6,507 KRW | -60% |
| NBCC (India) Limited NBCC | ₹96.32 | ₹48.22 | -50% |
| Cemindia Projects Limited CEMPRO | ₹1,330 | ₹730.69 | -45% |
| KEPCO Engineering & Construction Company 052690 | 92,700 KRW | 20,172 KRW | -78% |
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Frequently asked questions
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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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