Hwang Chang General Contractor Co Ltd (2543) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Hwang Chang General Contractor Co Ltd TWD 37.19, price TWD 38.15, upside -2.5%, quality 20 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Hwang Chang General Contractor Co., Ltd engages in the contracting business of civil engineering projects in Taiwan. The company manufactures and sells ready-mixed concrete. It also engages in earth retaining support and earthwork professional construction industry business.
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Hwang Chang General Contractor Co., Ltd engages in the contracting business of civil engineering projects in Taiwan. The company manufactures and sells ready-mixed concrete. It also engages in earth retaining support and earthwork professional construction industry business. In addition, the company engages in marine engineering and MRT projects.Hwang Chang General Contractor Co., Ltd was founded in 1981 and is based in Taipei, Taiwan.
Stock analysis
Hwang Chang General Contractor Co Ltd (2543) currently trades at 38.15 TWD, while our model-based Fair Value estimate is 37.19 TWD, implying the stock looks roughly 2.6% fairly valued today.
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Valuation
Bull case: the Multiples group reads highest at a median of 46.77 TWD per share, and 8 of the 14 models we run sit above the 38.15 TWD price.
Bear case: the Asset-Based group reads lowest at 12.95 TWD, and 6 of the 14 models stay below the price. Evidence for this calculation is medium.
Scenario range: 26.04 TWD (bear) to 48.35 TWD (bull), the price of 38.15 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 20/100 (below-average quality), in the Industrials sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Hwang Chang General Contractor Co Ltd reported revenue of 11.8B TWD in FY2025 versus 8.0B TWD in FY2021, a compound +10.3%/yr. Reported net income was 1.4B TWD in FY2025, compounding +39.9%/yr from FY2021.
Key figures
Market cap 20.8B TWD (≈ $653M) · P/E ratio 14.2 · P/S ratio 1.70 · EPS (TTM) 2.68 TWD · Net margin 12.0% · Return on equity 13.5% · Return on assets (EBIT) 7.2% · Operating margin 9.0%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 46 out of 100 (low confidence).
What moves the price
The share trades about 51% below its 52-week high and 7% 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 −3%, 2543 screens cheaper than that median.
Fair Value models
Bear 26.04 TWDFair Value 37.19 TWDBull 48.35 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 (1.96 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.54/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
−4.8%
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.
+11.9%
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.
+13.1%
Start year 2020 (pandemic). Over 10 years: +8.0% 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.
+4.8%
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What shareholders gained per year (last 5 years), in TWD ⓘ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. 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.
+24.9%
Earnings growth per share plus dividend.
Earnings per share, growth per year+24.9%
Dividend (yield on the price)0.0%
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.25% vs 18%, picking up
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.1% → 15%
Compare Hwang Chang General Contractor 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 8/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score20 · Bottom 25%
Fair Value upside−3% · Above median
Profitability
Return on equity (TTM)14% · Above median
Return on assets5% · Top 25%
Net margin (TTM)11% · Top 25%
Operating margin (TTM)9% · Above median
Growth and dividend
Revenue growth21% · Above median
Dividend yield (TTM)0.0% · Bottom 25%
Balance sheet
Debt / equity0.14× · Above median
Valuation Multiplesvs Engineering & Construction 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). "Hwang Chang General Contractor Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/2543
Frequently asked questions
Is Hwang Chang General Contractor Co Ltd (2543) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 37.19 TWD versus a price of 38.15 TWD, about −3% upside (fairly valued).
What is the fair value of 2543?
Our model-based fair value for Hwang Chang General Contractor Co Ltd is 37.19 TWD (as of Sep 24, 2026), built from audited fundamentals. The current price: 38.15 TWD.
What is the quality score of 2543?
Hwang Chang General Contractor Co Ltd has a Quality Score of 20/100. 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 Hwang Chang General Contractor Co Ltd (2543)?
Our model-based price target is the fair value of 37.19 TWD (as of Sep 24, 2026) from 14 valuation models. Cautious scenario 26.04 TWD, optimistic scenario 48.35 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Hwang Chang General Contractor Co Ltd stock forecast for 2026?
Our models put fair value at 37.19 TWD, about −3% upside versus a price of 38.15 TWD (fairly valued). Cautious scenario 26.04 TWD, optimistic scenario 48.35 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Hwang Chang General Contractor Co Ltd (2543)?
Hwang Chang General Contractor Co Ltd reported trailing-twelve-month revenue of about 12.3B TWD (latest available figure, as of Sep 24, 2026).
What is the intrinsic value of Hwang Chang General Contractor Co Ltd (2543)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Hwang Chang General Contractor Co Ltd it is 37.19 TWD per share (as of Sep 24, 2026), against a price of 38.15 TWD. It is the blended result of 14 valuation models (cash flow, earnings, asset, dividend).
Is Hwang Chang General Contractor Co Ltd stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 2543 trades above its calculated fair value: price 38.15 TWD, fair value 37.19 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 2543?
No. The price is what the market pays today (38.15 TWD); the fair value is what the company's own numbers justify (37.19 TWD). For Hwang Chang General Contractor Co Ltd the two are 0.9620 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Hwang Chang General Contractor Co Ltd worth?
The market values Hwang Chang General Contractor Co Ltd at about 20.8B TWD (market capitalisation, as of Sep 24, 2026). Per share that is 38.15 TWD; our models calculate a fair value of 37.19 TWD per share.
What do the bullish and bearish scenarios say about 2543?
Our models span a range for Hwang Chang General Contractor Co Ltd: cautious scenario 26.04 TWD, base 37.19 TWD, optimistic 48.35 TWD per share (as of Sep 24, 2026, price 38.15 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 2543?
Hwang Chang General Contractor Co Ltd trades at a price-to-earnings ratio of 14.2 (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 37.19 TWD is built from several models across several years. Other multiples: P/B 2.1, P/S 1.7, EV/EBITDA 8.4.
How solid is the balance sheet of Hwang Chang General Contractor Co Ltd (2543)?
Balance-sheet figures for Hwang Chang General Contractor Co Ltd (as of Sep 24, 2026): return on equity 13.5%, debt of 0.14 per unit of equity. They feed the Quality Score of 20/100, which measures business quality independently of the share price.
How far is 2543 from its 52-week high?
Hwang Chang General Contractor Co Ltd trades at 38.15 TWD, about 51% below its 52-week high of 78.40 TWD and 7% above the low of 35.55 TWD (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 37.19 TWD is for.
Which stocks are comparable to Hwang Chang General Contractor 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 Hwang Chang General Contractor Co Ltd stock attractive at the current price?
The data as of Sep 24, 2026: price 38.15 TWD, calculated fair value 37.19 TWD (−3%), Quality Score 20/100, 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 2543 calculated?
We run Hwang Chang General Contractor Co Ltd 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 37.19 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. Hwang Chang General Contractor Co Ltd itself currently trades above fair value. 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 Hwang Chang General Contractor Co Ltd (2543)?
The closing price on Sep 24, 2026 was 38.15 TWD. Our model-based fair value is 37.19 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 Hwang Chang General Contractor Co Ltd right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. A fairly wide model range (26.04 TWD to 48.35 TWD) leaves room in how you read the outcome.
Where does the earnings growth of Hwang Chang General Contractor Co Ltd (2543) come from?
Earnings per share at Hwang Chang General Contractor Co Ltd grew +18.3 % a year from 2014 to 2025. Broken into its drivers: revenue per share +3.6 %, EBIT margin +21.5 %, tax rate −0.9 %, residual (interest, one-offs) −5.2 %. 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 Hwang Chang General Contractor Co Ltd
How large is the market capitalisation of Hwang Chang General Contractor Co Ltd (2543)?
The market capitalisation of Hwang Chang General Contractor Co Ltd is 20.8B TWD (≈ $653M). 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 Hwang Chang General Contractor Co Ltd (2543)?
The price-to-sales ratio of Hwang Chang General Contractor Co Ltd is 1.70 (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 Hwang Chang General Contractor Co Ltd (2543)?
Earnings per share at Hwang Chang General Contractor Co Ltd are 2.68 TWD (price ÷ EPS = P/E 14.2). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Hwang Chang General Contractor Co Ltd (2543)?
The net margin of Hwang Chang General Contractor Co Ltd is 12.0% (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 Hwang Chang General Contractor Co Ltd (2543)?
The return on equity (ROE) of Hwang Chang General Contractor Co Ltd is 13.5% (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 Hwang Chang General Contractor Co Ltd (2543)?
On an EBIT basis the return on assets of Hwang Chang General Contractor Co Ltd is 7.2% (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 Hwang Chang General Contractor Co Ltd (2543)?
The operating margin of Hwang Chang General Contractor Co Ltd is 9.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Hwang Chang General Contractor Co Ltd (2543)?
Revenue at Hwang Chang General Contractor Co Ltd is growing +21.3% versus a year earlier (3y avg +11.9%). 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 Hwang Chang General Contractor Co Ltd (2543)?
Earnings per share at Hwang Chang General Contractor Co Ltd are growing −37.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Hwang Chang General Contractor Co Ltd (2543) generate?
The free cash flow of Hwang Chang General Contractor Co Ltd is −2.9B 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 Hwang Chang General Contractor Co Ltd (2543) carry?
The net debt of Hwang Chang General Contractor Co Ltd is 3.0B TWD (fiscal year 2025). 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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