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Highwealth Construction Corp (2542) Fair Value & Analysis

Real Estate · TW · Market cap 91.4B TWD

HC Highwealth Construction Corp 2542 · TW
Price44.30 TWD
Fair Value30.36 TWD
Upside-31.5%
Quality24/100
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Expensive Growth
Solidly profitable · 14.9% net margin
Low debt · negative free cash flow
9.24% dividend yield
Mixed vs. peers (7/14)
Moderate moat 55/100
Evidence: Medium Range 22.77 TWD – 37.95 TWD Share as image

Fair value as of: Jul 21, 2026

From 9 valuation models · updated 20 days ago

Share price +1.8% over the past month.

Below-average quality, and screening another 31% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (37.95 TWD). The favourable scenario is already priced in.
  • Weak quality (24/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
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Price vs Fair Value (5 years)

65.90 TWD 33.90 TWD Fair Value 30.36 TWD Mar 2021 Aug 2026

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 33.90 TWD – 65.90 TWD · fair‑value band 22.77 TWD – 37.95 TWD · the 44.30 TWD price screens above the 30.36 TWD fair value. Dashed = 300-day average. As of Jul 21, 2026.

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Analysis

Highwealth Construction Corp (2542) currently trades at 44.30 TWD, while our model-based Fair Value estimate is 30.36 TWD, implying the stock looks roughly 31.5% overvalued today. The Quality Score stands at 24/100 (below-average quality), in the Real Estate sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: medium).

Over the trailing twelve months, Highwealth Construction Corp generated revenue of 46.1B TWD at a net margin of 14.9%. It earns a return on equity of 13.8%. Net debt stands at 159B TWD. The stock trades on a trailing P/E of 21.6. Fundamentals as of Jul 21, 2026

Our scenario range runs from 22.77 TWD (bear case) to 37.95 TWD (bull case); at 44.30 TWD, the current price sits above 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 7% below its 52-week high and 31% above its 52-week low, currently above its 200-day average. For context, the median of 10 Real Estate peers we cover trades at 32% fair-value upside, at -31%, 2542 screens richer 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.

Model BearBaseBull Evidence
Highest evidence
Residual Income 21.25 TWD 22.99 TWD 27.03 TWD 76
Gordon GGM 17.62 TWD 36.63 TWD 58.12 TWD 70
DDM Multi-Stage 17.62 TWD 29.64 TWD 38.45 TWD 61
All 9 models by family
Dividend Discount
Gordon GGM 17.62 TWD 36.63 TWD 58.12 TWD 70
DDM Multi-Stage 17.62 TWD 29.64 TWD 38.45 TWD 61
Multiples
P/S Multiple 26.79 TWD 35.72 TWD 44.65 TWD 58
P/B Multiple 26.79 TWD 35.72 TWD 44.65 TWD 55
EV/EBIT 44.56 TWD 61.31 TWD 78.06 TWD 53
EV/EBITDA 35.38 TWD 49.07 TWD 62.76 TWD 54
EV/Revenue 22.03 TWD 33.91 TWD 45.78 TWD 43
Asset-Based
NCAV (Graham) 12.49 TWD 16.74 TWD 24.98 TWD 50
Economic Profit
Residual Income 21.25 TWD 22.99 TWD 27.03 TWD 76

Widest divergence: Multiples (35.72 TWD) versus Asset-Based (16.74 TWD). Highest evidence: Residual Income (76).

Key figures & financial health

Revenue (TTM) 46.1B TWD
Revenue growth (YoY) +1,361%
Net margin 14.9%
Return on equity 13.8%
Free cash flow −14.2B TWD FY2025
P/E ratio 20.6
More key figures
Operating margin 24.2%
EPS (TTM) 2.10 TWD
Dividend yield 9.2%
EPS growth (YoY) +40,993%
Net debt 159B TWD FY2025

Figures from reported company fundamentals · as of Jul 21, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 24/100

Of which business quality 21 · Market factors (momentum, volatility) 64

Profitability 27
Margins and returns on capital today
Quality Growth 14
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 24
Balance sheet, leverage, solvency risk
Investment 79
Disciplined investing over empire-building
Low Volatility 86
Calm price path (market factor)
Momentum 54
Price trend over the last 3–12 months (market factor)
52W Momentum 58
Distance to the 52-week high (market factor)
Net Issuance 0
Buybacks instead of dilution

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

Highwealth Construction Corp., together with its subsidiaries, engages in the development, construction, leasing, and sale of residential and commercial buildings in Taiwan. It operates through the Construction, and Hotels and Other Department segments. The company offers real estate agency brokerage and trading; and catering services.

Full company description

Highwealth Construction Corp., together with its subsidiaries, engages in the development, construction, leasing, and sale of residential and commercial buildings in Taiwan. It operates through the Construction, and Hotels and Other Department segments. The company offers real estate agency brokerage and trading; and catering services. It also engages in the operation of hotels; wholesale of building materials; general investment activities; and other business operations. Highwealth Construction Corp. was incorporated in 1980 and is headquartered in Taipei, Taiwan.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Highwealth Construction Corp reported revenue of 31.1B TWD in FY2025 versus 44.3B TWD in FY2021, a compound −8.5%/yr. Reported net income was 4.4B TWD in FY2025, compounding −14.2%/yr from FY2021.

Growth Quality 41/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
31.1B TWD
Latest YoY
−15.9%
Avg. growth/yr (3Y)
+5.3%
Avg. growth/yr (5Y)
+4.9%
Avg. growth/yr (23Y)
+13.3%
Revenue −8.5%/yr
FY21 44.3B TWD
FY22 26.6B TWD
FY23 44.1B TWD
FY24 36.9B TWD
FY25 31.1B TWD
Net income −14.2%/yr
FY21 8.2B TWD
FY22 3.7B TWD
FY23 2.4B TWD
FY24 6.3B TWD
FY25 4.4B TWD

2542 screens 31% overvalued. Compare with DLF Limited →

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Cite: Fair Value Calculator (2026). "Highwealth Construction Corp Fair Value". https://www.fairvalue-calculator.com/stock/2542

Peer Group

Real Estate - Development · 588 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.

Quality Score 25 · Bottom 25%
Fair Value upside −32% · Below median
Return on equity (TTM) 14% · Top 25%
Return on assets 3% · Above median
Net margin (TTM) 15% · Above median
Operating margin (TTM) 24% · Top 25%
Revenue growth 1361% · Top 25%
Dividend yield (TTM) 9.2% · Top 25%
Debt / equity 0.48× · Higher than median

Valuation Multiples vs Real Estate - Development median · lower = cheaper

P/E (TTM) 20.6× · Pricier than median
P/B 1.73× · Pricier than 75% of peers
P/S (TTM) 1.98× · Pricier than median
EV/EBITDA 9.7× · Cheaper than median
PEG 0.92× · Pricier than median

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.

VALUE 0 · sector 48
FUTURE 100 · sector 0
PAST 55 · sector 10
HEALTH 76 · sector 84
DIVIDEND 100 · sector 38

VALUE 0: the price sits above our fair-value range.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

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 - Development stocks, each showing price versus our Fair Value estimate (as of Jul 21, 2026).

Stock Price Fair Value vs Fair Value
DLF Limited DLF ₹657.75 ₹159.49 -76%
Lodha Developers Limited LODHA ₹1,188 ₹583.43 -51%
PT Pantai Indah Kapuk Dua Tbk, PANI 6,125 IDR 1,330 IDR -78%
Oberoi Realty Limited OBEROIRLTY ₹1,925 ₹1,183 -39%
Godrej Properties Limited GODREJPROP ₹2,102 ₹1,044 -50%
PT Jaya Real Property, Tbk., JRPT 1,080 IDR 1,674 IDR +55%
PT Bumi Serpong Damai Tbk, BSDE 555.00 IDR 1,388 IDR +150%
PT Sentul City Tbk, BKSL 64.00 IDR 84.16 IDR +32%
PT Ciputra Development Tbk, CTRA 555.00 IDR 1,388 IDR +150%
PT Duta Pertiwi Tbk DUTI 4,100 IDR 6,239 IDR +52%

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Frequently asked questions

Is Highwealth Construction Corp (2542) overvalued or undervalued?
As of Jul 21, 2026, our model estimates a fair value of 30.36 TWD versus a price of 44.30 TWD, about −31% (overvalued).
What is the fair value of 2542?
Our model-based fair value for Highwealth Construction Corp is 30.36 TWD (as of Jul 21, 2026), built from audited fundamentals. The current price is 44.30 TWD.
What is the quality score of 2542?
Highwealth Construction Corp has a Quality Score of 24/100. 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 revenue of Highwealth Construction Corp (2542)?
Highwealth Construction Corp reported trailing-twelve-month revenue of about 46.1B TWD (latest available figure, as of Jul 21, 2026).
What is the net profit margin of 2542?
The net profit margin of Highwealth Construction Corp is about 14.9%, meaning it keeps roughly 14.9% of revenue as net income. Based on the latest reported figures.
Does Highwealth Construction Corp pay a dividend?
Highwealth Construction Corp currently shows a dividend yield of about 8.80% relative to its recent price (as of Jul 21, 2026).

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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