Tze Shin International Co Ltd (2611) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Tze Shin International Co Ltd TWD 6.20, price TWD 14.05, upside -55.9%, quality 36 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Tze Shin International Co., Ltd. operates as a transportation company in Taiwan. The company offers transport services, such as container and truck transportation, terminal, petrochemical, damage goods transportation, and bulk logistics.
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Tze Shin International Co., Ltd. operates as a transportation company in Taiwan. The company offers transport services, such as container and truck transportation, terminal, petrochemical, damage goods transportation, and bulk logistics. It is also involved in the development and planning for construction of factories, shopping malls, and residential buildings. The company was formerly known as Tze Shin Transportation & Terminal Co.Ltd and changed its name to Tze Shin International Co., Ltd. in July 2002. Tze Shin International Co., Ltd. was founded in 1962 and is based in Taipei, Taiwan.
Stock analysis
Tze Shin International Co Ltd (2611) currently trades at 14.05 TWD, while our model-based Fair Value estimate is 6.20 TWD, implying the stock looks roughly 126.7% overvalued today.
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Valuation
Bull case: the Dividend Discount group reads highest at a median of 12.21 TWD per share, and 0 of the 15 models we run sit above the 14.05 TWD price.
Bear case: the Earnings-Based group reads lowest at 1.87 TWD, and 15 of the 15 models stay below the price. Evidence for this calculation is low.
Scenario range: 4.64 TWD (bear) to 7.74 TWD (bull), the price of 14.05 TWD sits above 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 36/100 (below-average quality), in the Industrials sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Tze Shin International Co Ltd reported revenue of 672M TWD in FY2025 versus 792M TWD in FY2021, a compound −4.0%/yr. Reported net income was 98.6M TWD in FY2025, compounding −23.7%/yr from FY2021.
Key figures
Market cap 3.1B TWD (≈ $98.4M) · P/E ratio 27.0 · P/S ratio 3.97 · EPS (TTM) 0.5200 TWD · Dividend yield 3.7% · Net margin 14.7% · Return on equity 9.6% · Return on assets (EBIT) −0.8%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 32 out of 100 (low confidence).
What moves the price
The share trades about 18% below its 52-week high and 11% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at 61% fair-value upside, at −56%, 2611 screens richer than that median.
Fair Value models
Bear 4.64 TWDFair Value 6.20 TWDBull 7.74 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.21/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
−2.2%
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.
−2.7%
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.
+2.1%
Start year 2020 (pandemic). Over 10 years: −6.8% 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.
−5.5%
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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. Basis: EBIT basis. 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.
−37.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year−41.2%
Dividend (yield on the price)3.7%
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.−22% vs 5%, slowing
Profit margin 2021 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.18% → 2%
Start year 2020 (pandemic)
⚠ Revenue per share shrinking 7.5%/yr over ~10Y (margins eroding too) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
Compare Tze Shin International 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.Marine Shipping · 233 stocks
Beats the industry median on 5/14 measures
Overall it trails its industry peers.
Valuation
Quality Score36 · Bottom 25%
Fair Value upside−56% · Bottom 25%
Profitability
Return on equity (TTM)10% · Above median
Return on assets1% · Bottom 25%
Net margin (TTM)29% · Top 25%
Operating margin (TTM)10% · Below median
Growth and dividend
Revenue growth110% · Top 25%
Dividend yield (TTM)3.7% · Above median
Balance sheet
Debt / equity0.08× · Lowest 25%
Valuation Multiplesvs Marine Shipping median · lower = cheaper
P/E (TTM)27.0× · Priciest 25%
P/B1.15× · Pricier than median
P/S (TTM)3.64× · Priciest 25%
EV/EBITDA34.9× · Priciest 25%
PEG2.57× · Pricier than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 35
FUTURE (revenue growth)100· sector 23
PAST (return on equity)38· sector 30
HEALTH (low debt)96· sector 89
DIVIDEND (yield)74· sector 54
VALUE 0: the price sits above our fair-value range.
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). "Tze Shin International Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/2611
Frequently asked questions
Is Tze Shin International Co Ltd (2611) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 6.20 TWD versus a price of 14.05 TWD, about −56% upside (overvalued).
What is the fair value of 2611?
Our model-based fair value for Tze Shin International Co Ltd is 6.20 TWD (as of Sep 24, 2026), built from audited fundamentals. The current price: 14.05 TWD.
What is the quality score of 2611?
Tze Shin International Co Ltd has a Quality Score of 36/100. 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 Tze Shin International Co Ltd (2611)?
Our model-based price target is the fair value of 6.20 TWD (as of Sep 24, 2026) from 15 valuation models. Cautious scenario 4.64 TWD, optimistic scenario 7.74 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Tze Shin International Co Ltd stock forecast for 2026?
Our models put fair value at 6.20 TWD, about −56% upside versus a price of 14.05 TWD (overvalued). Cautious scenario 4.64 TWD, optimistic scenario 7.74 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Tze Shin International Co Ltd (2611)?
Tze Shin International Co Ltd reported trailing-twelve-month revenue of about 858M TWD (latest available figure, as of Sep 24, 2026).
Does Tze Shin International Co Ltd pay a dividend?
Tze Shin International Co Ltd currently shows a dividend yield of about 3.70% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of Tze Shin International Co Ltd (2611)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Tze Shin International Co Ltd it is 6.20 TWD per share (as of Sep 24, 2026), against a price of 14.05 TWD. It is the blended result of 15 valuation models (cash flow, earnings, asset, dividend).
Is Tze Shin International Co Ltd stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 2611 trades above its calculated fair value: price 14.05 TWD, fair value 6.20 TWD, a gap of about −56% (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 2611?
No. The price is what the market pays today (14.05 TWD); the fair value is what the company's own numbers justify (6.20 TWD). For Tze Shin International Co Ltd the two are 7.85 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Tze Shin International Co Ltd worth?
The market values Tze Shin International Co Ltd at about 3.1B TWD (market capitalisation, as of Sep 24, 2026). Per share that is 14.05 TWD; our models calculate a fair value of 6.20 TWD per share.
What do the bullish and bearish scenarios say about 2611?
Our models span a range for Tze Shin International Co Ltd: cautious scenario 4.64 TWD, base 6.20 TWD, optimistic 7.74 TWD per share (as of Sep 24, 2026, price 14.05 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 2611?
Tze Shin International Co Ltd trades at a price-to-earnings ratio of 27.0 (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 6.20 TWD is built from several models across several years. Other multiples: PEG 2.6, P/B 1.2, P/S 3.6, EV/EBITDA 34.9.
What is the PEG ratio of 2611?
The PEG ratio of Tze Shin International Co Ltd is 2.57 (P/E divided by earnings growth, as of Sep 24, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Tze Shin International Co Ltd (2611)?
Balance-sheet figures for Tze Shin International Co Ltd (as of Sep 24, 2026): return on equity 9.6%, debt of 0.08 per unit of equity. They feed the Quality Score of 36/100, which measures business quality independently of the share price.
How far is 2611 from its 52-week high?
Tze Shin International Co Ltd trades at 14.05 TWD, about 18% below its 52-week high of 17.20 TWD and 11% above the low of 12.70 TWD (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 6.20 TWD is for.
Which stocks are comparable to Tze Shin International Co Ltd?
From the same area (Industrials) we also value Adani Ports and Special Economic Zone Limited, COSCO SHIPPING Holdings, Hapag-Lloyd Aktiengesellschaft,, Shanghai International Port (Group) Co, 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 Tze Shin International Co Ltd stock attractive at the current price?
The data as of Sep 24, 2026: price 14.05 TWD, calculated fair value 6.20 TWD (−56%), Quality Score 36/100, from 15 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 2611 calculated?
We run Tze Shin International Co Ltd through 15 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 6.20 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. Tze Shin International 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 Tze Shin International Co Ltd (2611)?
The closing price on Sep 24, 2026 was 14.05 TWD. Our model-based fair value is 6.20 TWD, about −56% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Tze Shin International Co Ltd right now?
The price sits above even our optimistic bull case (7.74 TWD). The favourable scenario is already priced in. Weak quality (36/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
Key figures of Tze Shin International Co Ltd
How large is the market capitalisation of Tze Shin International Co Ltd (2611)?
The market capitalisation of Tze Shin International Co Ltd is 3.1B TWD (≈ $98.4M). 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 Tze Shin International Co Ltd (2611)?
The price-to-sales ratio of Tze Shin International Co Ltd is 3.97 (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 Tze Shin International Co Ltd (2611)?
Earnings per share at Tze Shin International Co Ltd are 0.5200 TWD (price ÷ EPS = P/E 27.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Tze Shin International Co Ltd (2611)?
The dividend yield of Tze Shin International Co Ltd is 3.7% (payout 100%). 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 Tze Shin International Co Ltd (2611)?
The net margin of Tze Shin International Co Ltd is 14.7% (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 Tze Shin International Co Ltd (2611)?
The return on equity (ROE) of Tze Shin International Co Ltd is 9.6% (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 Tze Shin International Co Ltd (2611)?
On an EBIT basis the return on assets of Tze Shin International Co Ltd is −0.8% (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 Tze Shin International Co Ltd (2611)?
The operating margin of Tze Shin International Co Ltd is 10.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Tze Shin International Co Ltd (2611)?
Revenue at Tze Shin International Co Ltd is growing +110% versus a year earlier (3y avg −2.7%). 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 Tze Shin International Co Ltd (2611)?
Earnings per share at Tze Shin International Co Ltd are growing +128% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Tze Shin International Co Ltd (2611) generate?
The free cash flow of Tze Shin International Co Ltd is −144M 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 Tze Shin International Co Ltd (2611) carry?
The net debt of Tze Shin International Co Ltd is 364M 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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