Huang Hsiang Construction Corp (2545) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Huang Hsiang Construction Corp TWD 30.51, price TWD 34.20, upside -10.8%, quality 22 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Huang Hsiang Construction Corporation, together with its subsidiaries, engages in the development of residential and commercial properties. The company operates through three segments: Construction sector, Construction Division, and Hotel sector.
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Huang Hsiang Construction Corporation, together with its subsidiaries, engages in the development of residential and commercial properties. The company operates through three segments: Construction sector, Construction Division, and Hotel sector. It is also involved in leasing and selling residential and commercial buildings; and construction and civil engineering business. In addition, the company provides hotels, accommodation and catering services. The company was formerly known as Huang Ming Construction Corporation, LCC and changed its name to Huang Hsiang Construction Corporation in April 1996. Huang Hsiang Construction Corporation was founded in 1991 and is headquartered in Taipei, Taiwan.
Stock analysis
Huang Hsiang Construction Corp (2545) currently trades at 34.20 TWD, while our model-based Fair Value estimate is 30.51 TWD, implying the stock looks roughly 12.1% overvalued today.
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Valuation
Bull case: the Dividend Discount group reads highest at a median of 49.67 TWD per share, and 4 of the 9 models we run sit above the 34.20 TWD price.
Bear case: the Asset-Based group reads lowest at 26.36 TWD, and 5 of the 9 models stay below the price. Evidence for this calculation is high.
Scenario range: 28.96 TWD (bear) to 38.13 TWD (bull), the price of 34.20 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 22/100 (below-average quality), in the Real Estate sector.
Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.
Huang Hsiang Construction Corp reported revenue of 6.1B TWD in FY2025 versus 7.9B TWD in FY2021, a compound −6.2%/yr. Reported net income was 681M TWD in FY2025, compounding −27.4%/yr from FY2021.
Key figures
Market cap 12.1B TWD (≈ $382M) · P/E ratio 17.8 · P/S ratio 2.00 · EPS (TTM) 1.92 TWD · Dividend yield 8.2% · Net margin 11.2% · Return on equity 3.9% · Return on assets (EBIT) 4.6%.
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 18% below its 52-week high and 7% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Real Estate peers we cover trades at −9% fair-value upside, at −11%, 2545 screens richer than that median.
Fair Value models
Bear 28.96 TWDFair Value 30.51 TWDBull 38.13 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.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.8/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−51.0%
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.
−4.9%
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.
−1.2%
Start year 2020 (pandemic)
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.
+6.4%
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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.
−10.2%
Earnings growth per share plus dividend.
Earnings per share, growth per year−18.4%
Dividend (yield on the price)8.2%
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.−18% vs −10%, 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.33% → 24%
Compare Huang Hsiang Construction 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 - Diversified · 133 stocks
Beats the industry median on 2/13 measures
Overall it trails its industry peers.
Valuation
Quality Score23 · Bottom 25%
Fair Value upside−11% · Below median
Profitability
Return on equity (TTM)4% · Below median
Return on assets1% · Below median
Net margin (TTM)9% · Below median
Operating margin (TTM)6% · Below median
Growth and dividend
Revenue growth36% · Top 25%
Dividend yield (TTM)8.2% · Top 25%
Balance sheet
Debt / equity1.23× · Highest 25%
Valuation Multiplesvs Real Estate - Diversified median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Huang Hsiang Construction Corp Fair Value". https://www.fairvalue-calculator.com/stock/2545
Frequently asked questions
Is Huang Hsiang Construction Corp (2545) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 30.51 TWD versus a price of 34.20 TWD, about −11% upside (overvalued).
What is the fair value of 2545?
Our model-based fair value for Huang Hsiang Construction Corp is 30.51 TWD (as of Sep 24, 2026), built from audited fundamentals. The current price: 34.20 TWD.
What is the quality score of 2545?
Huang Hsiang Construction Corp has a Quality Score of 22/100. 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 Huang Hsiang Construction Corp (2545)?
Our model-based price target is the fair value of 30.51 TWD (as of Sep 24, 2026) from 9 valuation models. Cautious scenario 28.96 TWD, optimistic scenario 38.13 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Huang Hsiang Construction Corp stock forecast for 2026?
Our models put fair value at 30.51 TWD, about −11% upside versus a price of 34.20 TWD (overvalued). Cautious scenario 28.96 TWD, optimistic scenario 38.13 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Huang Hsiang Construction Corp (2545)?
Huang Hsiang Construction Corp reported trailing-twelve-month revenue of about 6.6B TWD (latest available figure, as of Sep 24, 2026).
Does Huang Hsiang Construction Corp pay a dividend?
Huang Hsiang Construction Corp currently shows a dividend yield of about 8.19% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of Huang Hsiang Construction Corp (2545)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Huang Hsiang Construction Corp it is 30.51 TWD per share (as of Sep 24, 2026), against a price of 34.20 TWD. It is the blended result of 9 valuation models (cash flow, earnings, asset, dividend).
Is Huang Hsiang Construction Corp stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 2545 trades above its calculated fair value: price 34.20 TWD, fair value 30.51 TWD, a gap of about −11% (overvalued). 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 2545?
No. The price is what the market pays today (34.20 TWD); the fair value is what the company's own numbers justify (30.51 TWD). For Huang Hsiang Construction Corp the two are 3.69 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Huang Hsiang Construction Corp worth?
The market values Huang Hsiang Construction Corp at about 12.1B TWD (market capitalisation, as of Sep 24, 2026). Per share that is 34.20 TWD; our models calculate a fair value of 30.51 TWD per share.
What do the bullish and bearish scenarios say about 2545?
Our models span a range for Huang Hsiang Construction Corp: cautious scenario 28.96 TWD, base 30.51 TWD, optimistic 38.13 TWD per share (as of Sep 24, 2026, price 34.20 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 2545?
Huang Hsiang Construction Corp trades at a price-to-earnings ratio of 17.8 (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 30.51 TWD is built from several models across several years. Other multiples: P/B 0.8, P/S 1.8, EV/EBITDA 21.4.
How solid is the balance sheet of Huang Hsiang Construction Corp (2545)?
Balance-sheet figures for Huang Hsiang Construction Corp (as of Sep 24, 2026): return on equity 3.9%, debt of 1.23 per unit of equity. They feed the Quality Score of 22/100, which measures business quality independently of the share price.
How far is 2545 from its 52-week high?
Huang Hsiang Construction Corp trades at 34.20 TWD, about 18% below its 52-week high of 41.69 TWD and 7% above the low of 31.90 TWD (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 30.51 TWD is for.
Which stocks are comparable to Huang Hsiang Construction Corp?
From the same area (Real Estate) we also value Swiss Prime Site AG, Central Pattana Public Company, Prestige Estates Projects Limited, The Phoenix Mills 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 Huang Hsiang Construction Corp stock attractive at the current price?
The data as of Sep 24, 2026: price 34.20 TWD, calculated fair value 30.51 TWD (−11%), Quality Score 22/100, from 9 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 2545 calculated?
We run Huang Hsiang Construction Corp through 9 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 30.51 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 14.0 % above its aggregate fair value. Huang Hsiang Construction Corp 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 Huang Hsiang Construction Corp (2545)?
The closing price on Sep 24, 2026 was 34.20 TWD. Our model-based fair value is 30.51 TWD, about −11% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Huang Hsiang Construction Corp right now?
As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF. The price sits in the upper half of our model range, so the margin of safety is thin. The data supports the verdict: every model runs on fully documented inputs.
Where does the earnings growth of Huang Hsiang Construction Corp (2545) come from?
Earnings per share at Huang Hsiang Construction Corp grew +1.1 % a year from 2014 to 2025. Broken into its drivers: revenue per share +1.5 %, EBIT margin +1.3 %, tax rate −0.1 %, residual (interest, one-offs) −1.6 %. 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 Huang Hsiang Construction Corp
How large is the market capitalisation of Huang Hsiang Construction Corp (2545)?
The market capitalisation of Huang Hsiang Construction Corp is 12.1B TWD (≈ $382M). 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 Huang Hsiang Construction Corp (2545)?
The price-to-sales ratio of Huang Hsiang Construction Corp is 2.00 (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 Huang Hsiang Construction Corp (2545)?
Earnings per share at Huang Hsiang Construction Corp are 1.92 TWD (price ÷ EPS = P/E 17.8). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Huang Hsiang Construction Corp (2545)?
The dividend yield of Huang Hsiang Construction Corp is 8.2% (payout 146%). 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 Huang Hsiang Construction Corp (2545)?
The net margin of Huang Hsiang Construction Corp is 11.2% (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 Huang Hsiang Construction Corp (2545)?
The return on equity (ROE) of Huang Hsiang Construction Corp is 3.9% (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 Huang Hsiang Construction Corp (2545)?
On an EBIT basis the return on assets of Huang Hsiang Construction Corp is 4.6% (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 Huang Hsiang Construction Corp (2545)?
The operating margin of Huang Hsiang Construction Corp is 5.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Huang Hsiang Construction Corp (2545)?
Revenue at Huang Hsiang Construction Corp is growing +35.5% versus a year earlier (3y avg −4.9%). 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 Huang Hsiang Construction Corp (2545)?
Earnings per share at Huang Hsiang Construction Corp are growing +21.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Huang Hsiang Construction Corp (2545) generate?
The free cash flow of Huang Hsiang Construction Corp is −5.2B 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 Huang Hsiang Construction Corp (2545) carry?
The net debt of Huang Hsiang Construction Corp is 40.0B 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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