T3EX Global Holdings Corp (2636) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of T3EX Global Holdings Corp TWD 109, price TWD 71.90, upside +51.5%, quality 59 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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T3EX Global Holdings Corp., an investment holding company, provides integrated logistics services in Taiwan, Hong Kong, China, East Asia, and internationally. The company operates through Sea Export and Air Export segments. It offers international freight forwarding services, such as ocean and air freight services.
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T3EX Global Holdings Corp., an investment holding company, provides integrated logistics services in Taiwan, Hong Kong, China, East Asia, and internationally. The company operates through Sea Export and Air Export segments. It offers international freight forwarding services, such as ocean and air freight services. The company also provides domestic logistics services, including sea and air freight import/export customs clearance, bonded area customs clearance and filing for re-import/re-export, logistics park of export and import transit operations, hazardous goods or tank container customs clearance, remote customs clearance and declaration, customs seal clearance operations, and inspection and quarantine. In addition, it provides rail freight solutions; supply chain solutions; warehousing and delivery services; e-commerce logistics solutions; and supply chain financing services. The company was incorporated in 1987 and is headquartered in Taipei City, Taiwan.
Stock analysis
T3EX Global Holdings Corp (2636) currently trades at 71.90 TWD, while our model-based Fair Value estimate is 108.93 TWD, implying the stock looks roughly 34.0% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 259.53 TWD per share, and 22 of the 26 models we run sit above the 71.90 TWD price.
Bear case: the Dividend Discount group reads lowest at 33.20 TWD, and 4 of the 26 models stay below the price. Evidence for this calculation is high.
Scenario range: 76.25 TWD (bear) to 141.61 TWD (bull), the price of 71.90 TWD sits below 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 59/100 (solid 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.
T3EX Global Holdings Corp reported revenue of 20.8B TWD in FY2025 versus 36.0B TWD in FY2021, a compound −12.8%/yr. Reported net income was 1.1B TWD in FY2025, compounding −27.9%/yr from FY2021.
Key figures
Market cap 10.0B TWD · P/E ratio 9.3 · P/S ratio 0.47 · EPS (TTM) 7.74 TWD · Dividend yield 7.0% · Net margin 5.1% · Return on equity 9.4% · Return on assets (EBIT) 12.8%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).
What moves the price
The share trades about 4% below its 52-week high and 22% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Industrials peers we cover trades at 13% fair-value upside, at 52%, 2636 screens cheaper than that median.
Fair Value models
Bear 76.25 TWDFair Value 108.93 TWDBull 141.61 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 (2.01 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.40/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
−18.3%
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.
−9.7%
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.
+6.5%
Start year 2020 (pandemic). Over 10 years: +7.9% a year
Revenue growth 16 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.
+11.6%
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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.
+17.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year+10.8%
Dividend (yield on the price)7.0%
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.11% vs 15%, 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.5% → 4%
Start year 2020 (pandemic)
Growth Forecast
Little optimism in the price
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
less than -40 %
Yearly growth needed for the next five years to justify today's price.
Compare T3EX Global Holdings Corp with another stock
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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.Integrated Freight & Logistics · 217 stocks
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Cite: Fair Value Calculator (2026). "T3EX Global Holdings Corp Fair Value". https://www.fairvalue-calculator.com/stock/2636
Frequently asked questions
Is T3EX Global Holdings Corp (2636) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 108.93 TWD versus a price of 71.90 TWD, about +52% upside (undervalued).
What is the fair value of 2636?
Our model-based fair value for T3EX Global Holdings Corp is 108.93 TWD (as of Sep 24, 2026), built from audited fundamentals. The current price: 71.90 TWD.
What is the quality score of 2636?
T3EX Global Holdings Corp has a Quality Score of 59/100. 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 T3EX Global Holdings Corp (2636)?
Our model-based price target is the fair value of 108.93 TWD (as of Sep 24, 2026) from 26 valuation models. Cautious scenario 76.25 TWD, optimistic scenario 141.61 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the T3EX Global Holdings Corp stock forecast for 2026?
Our models put fair value at 108.93 TWD, about +52% upside versus a price of 71.90 TWD (undervalued). Cautious scenario 76.25 TWD, optimistic scenario 141.61 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of T3EX Global Holdings Corp (2636)?
T3EX Global Holdings Corp reported trailing-twelve-month revenue of about 20.1B TWD (latest available figure, as of Sep 24, 2026).
Does T3EX Global Holdings Corp pay a dividend?
T3EX Global Holdings Corp currently shows a dividend yield of about 6.95% relative to its recent price (as of Sep 24, 2026).
What growth is priced into T3EX Global Holdings Corp (2636)?
For today's price to be fair in a discounted-cash-flow model, T3EX Global Holdings Corp would have to grow free cash flow by less than minus 40 % per year for five years (discount rate 12.1 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +6.5 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 2636 use?
Our models discount T3EX Global Holdings Corp at 12.1 %: a base by market capitalisation (micro), damped by beta 0.65, country premium for Taiwan. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For T3EX Global Holdings Corp that is less than minus 40 % per year a year over ten years, using the same discount rate (12.1 %) and the same formula as our fair value.
How much growth has T3EX Global Holdings Corp (2636) delivered so far?
Over the past 5 years revenue at T3EX Global Holdings Corp grew +6.5 % a year. The price currently implies less than minus 40 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of T3EX Global Holdings Corp (2636) growing?
The median revenue growth in the sector is +4.6 % a year. That is the yardstick for the growth priced into T3EX Global Holdings Corp (less than minus 40 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of T3EX Global Holdings Corp (2636)?
The free-cash-flow yield on the price is 24.45 %: that much free cash flow T3EX Global Holdings Corp produces per unit of market value. When it exceeds the discount rate of our models (12.1 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of T3EX Global Holdings Corp (2636)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For T3EX Global Holdings Corp it is 108.93 TWD per share (as of Sep 24, 2026), against a price of 71.90 TWD. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is T3EX Global Holdings Corp stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 2636 trades below its calculated fair value: price 71.90 TWD, fair value 108.93 TWD, a gap of about +52% (undervalued). 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 2636?
No. The price is what the market pays today (71.90 TWD); the fair value is what the company's own numbers justify (108.93 TWD). For T3EX Global Holdings Corp the two are 37.03 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is T3EX Global Holdings Corp worth?
The market values T3EX Global Holdings Corp at about 10.0B TWD (market capitalisation, as of Sep 24, 2026). Per share that is 71.90 TWD; our models calculate a fair value of 108.93 TWD per share.
What do the bullish and bearish scenarios say about 2636?
Our models span a range for T3EX Global Holdings Corp: cautious scenario 76.25 TWD, base 108.93 TWD, optimistic 141.61 TWD per share (as of Sep 24, 2026, price 71.90 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 2636?
T3EX Global Holdings Corp trades at a price-to-earnings ratio of 9.3 (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 108.93 TWD is built from several models across several years. Other multiples: P/B 1.0, P/S 0.5, EV/EBITDA 2.0.
How solid is the balance sheet of T3EX Global Holdings Corp (2636)?
Balance-sheet figures for T3EX Global Holdings Corp (as of Sep 24, 2026): return on equity 9.4%, debt of 0.03 per unit of equity. They feed the Quality Score of 59/100, which measures business quality independently of the share price.
How far is 2636 from its 52-week high?
T3EX Global Holdings Corp trades at 71.90 TWD, about 4% below its 52-week high of 74.60 TWD and 22% above the low of 58.87 TWD (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 108.93 TWD is for.
Which stocks are comparable to T3EX Global Holdings Corp?
From the same area (Industrials) we also value United Parcel Service, Inc, FedEx Corporation, Deutsche Post AG, DSV A/S, 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 T3EX Global Holdings Corp stock attractive at the current price?
The data as of Sep 24, 2026: price 71.90 TWD, calculated fair value 108.93 TWD (+52%), Quality Score 59/100, from 26 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 2636 calculated?
We run T3EX Global Holdings Corp through 26 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 108.93 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 13.0 % above its aggregate fair value. T3EX Global Holdings Corp currently trades 52 % below its own fair value, and the market average says nothing about that. 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 T3EX Global Holdings Corp (2636)?
The closing price on Sep 24, 2026 was 71.90 TWD. Our model-based fair value is 108.93 TWD, about +52% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with T3EX Global Holdings Corp right now?
The price is below even our cautious bear case (76.25 TWD). The market is more pessimistic than our downside scenario. Solid quality (59/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (76.25 TWD to 141.61 TWD) leaves room in how you read the outcome.
Where does the earnings growth of T3EX Global Holdings Corp (2636) come from?
Earnings per share at T3EX Global Holdings Corp grew +20.9 % a year from 2014 to 2025. Broken into its drivers: revenue per share +7.3 %, EBIT margin +6.9 %, tax rate +1.1 %, residual (interest, one-offs) +4.3 %. 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 T3EX Global Holdings Corp
How large is the market capitalisation of T3EX Global Holdings Corp (2636)?
The market capitalisation of T3EX Global Holdings Corp is 10.0B TWD. 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 T3EX Global Holdings Corp (2636)?
The price-to-sales ratio of T3EX Global Holdings Corp is 0.47 (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 T3EX Global Holdings Corp (2636)?
Earnings per share at T3EX Global Holdings Corp are 7.74 TWD (price ÷ EPS = P/E 9.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of T3EX Global Holdings Corp (2636)?
The dividend yield of T3EX Global Holdings Corp is 7.0% (payout 64.6%). 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 T3EX Global Holdings Corp (2636)?
The net margin of T3EX Global Holdings Corp is 5.1% (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 T3EX Global Holdings Corp (2636)?
The return on equity (ROE) of T3EX Global Holdings Corp is 9.4% (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 T3EX Global Holdings Corp (2636)?
On an EBIT basis the return on assets of T3EX Global Holdings Corp is 12.8% (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 T3EX Global Holdings Corp (2636)?
The operating margin of T3EX Global Holdings Corp is 2.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at T3EX Global Holdings Corp (2636)?
Revenue at T3EX Global Holdings Corp is growing −13.0% versus a year earlier (3y avg −9.7%). 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 T3EX Global Holdings Corp (2636)?
Earnings per share at T3EX Global Holdings Corp are growing −45.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does T3EX Global Holdings Corp (2636) carry?
The net debt of T3EX Global Holdings Corp is 227M TWD (fiscal year 2025, ≈ 0.1 yrs of FCF). 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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