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Taiwan Taxi Co (2640) Fair Value & Analysis

Industrials · TW · Market cap 8.6B TWD

TT Taiwan Taxi Co 2640 · TWO
Price147.00 TWD
Fair Value183.10 TWD
Upside+24.6%
Quality72/100
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Healthy Growth
Solidly profitable · 17.1% net margin
Low debt · generates free cash flow
5.46% dividend yield
Ranks above peers (12/14)
Wide moat 79/100
Evidence: High Range 122.29 TWD – 236.46 TWD Share as image

Fair value as of: Jul 23, 2026

From 26 valuation models · updated 18 days ago

Share price −2.1% over the past month.

A solid business, screening 25% undervalued on our models.

What matters now

  • A fairly wide model range (122.29 TWD to 236.46 TWD) leaves room in how you read the outcome.
  • Our model range runs from 122.29 TWD (bear) to 236.46 TWD (bull), base 183.10 TWD. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 72/100 (solid quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

185.31 TWD 53.31 TWD Fair Value 183.10 TWD Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 23, 2026.

How to read this chart

60‑month range 53.31 TWD – 185.31 TWD · fair‑value band 122.29 TWD – 236.46 TWD · the 147.00 TWD price screens below the 183.10 TWD fair value. Dashed = 300-day average. As of Jul 23, 2026.

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Analysis

Taiwan Taxi Co (2640) currently trades at 147.00 TWD, while our model-based Fair Value estimate is 183.10 TWD, implying the stock looks roughly 24.6% undervalued today. The Quality Score stands at 72/100 (solid quality), in the Industrials sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Taiwan Taxi Co generated revenue of 3.2B TWD at a net margin of 17.1%. Revenue grew 5.5% year over year. It earns a return on equity of 28.3%. The balance sheet holds a net cash position of 251M TWD. Fundamentals as of Jul 23, 2026

Our scenario range runs from 122.29 TWD (bear case) to 236.46 TWD (bull case); at 147.00 TWD, the current price sits within 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 26% below its 52-week high and 20% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at -28% fair-value upside, at 25%, 2640 screens cheaper 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 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
Highest evidence
Growth DCF 106.95 TWD 145.78 TWD 199.44 TWD 80
Residual Income 52.23 TWD 62.95 TWD 161.88 TWD 76
Rev-Margin DCF 94.02 TWD 134.09 TWD 180.63 TWD 74
All 26 models by family
DCF Models
FCF DCF 105.92 TWD 150.30 TWD 215.82 TWD 38
Owner Earnings 112.93 TWD 161.09 TWD 232.18 TWD 31
5Y Revenue Exit 94.02 TWD 133.74 TWD 184.13 TWD 39
5Y EBITDA Exit 133.47 TWD 207.97 TWD 295.36 TWD 41
5Y P/E Exit 133.91 TWD 208.80 TWD 287.87 TWD 38
10Y Revenue Exit 95.68 TWD 132.56 TWD 181.68 TWD 36
10Y EBITDA Exit 122.29 TWD 183.10 TWD 265.11 TWD 37
10Y P/E Exit 122.57 TWD 183.67 TWD 259.50 TWD 35
Earnings-Based
Graham-Dodd 61.26 TWD 196.24 TWD 261.74 TWD 54
Lynch FV 43.45 TWD 62.07 TWD 80.69 TWD 50
PEG = 1.0 43.45 TWD 62.07 TWD 80.69 TWD 46
EPV 105.23 TWD 118.16 TWD 129.31 TWD 59
Dividend Discount
Gordon GGM 61.48 TWD 122.50 TWD 185.51 TWD 70
DDM Multi-Stage 61.48 TWD 101.20 TWD 129.31 TWD 61
Multiples
P/E Multiple 141.88 TWD 189.17 TWD 236.46 TWD 63
P/S Multiple 79.84 TWD 106.45 TWD 133.06 TWD 58
P/B Multiple 114.85 TWD 153.14 TWD 191.42 TWD 55
EV/EBIT 164.96 TWD 212.17 TWD 259.37 TWD 53
EV/EBITDA 164.45 TWD 211.49 TWD 258.52 TWD 54
EV/Revenue 90.41 TWD 119.16 TWD 147.90 TWD 43
Asset-Based
NCAV (Graham) 18.49 TWD 24.78 TWD 36.98 TWD 50
Growth DCF
Growth DCF 106.95 TWD 145.78 TWD 199.44 TWD 80
Rev-Margin DCF 94.02 TWD 134.09 TWD 180.63 TWD 74
Economic Profit
Residual Income 52.23 TWD 62.95 TWD 161.88 TWD 76
ROIC Compounder 108.45 TWD 125.62 TWD 142.95 TWD 72
Growth Earnings
Growth-Adj P/E 118.50 TWD 169.29 TWD 220.07 TWD 68

Widest divergence: Growth Earnings (169.29 TWD) versus Asset-Based (24.78 TWD). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 3.2B TWD
Revenue growth (YoY) +5.5%
Net margin 17.1%
Return on equity 28.3%
Free cash flow 450M TWD FY2025
P/E ratio 16.2
More key figures
Operating margin 21.9%
EPS (TTM) 8.98 TWD
Dividend yield 5.5%
EPS growth (YoY) +9.9%
Net cash 251M TWD FY2023

Figures from reported company fundamentals · as of Jul 23, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 72/100

Of which business quality 70 · Market factors (momentum, volatility) 60

Profitability 70
Margins and returns on capital today
Quality Growth 47
Are margins and returns improving?
Cashflow 61
Earnings quality: real cash, not paper profit
Fin. Strength 92
Balance sheet, leverage, solvency risk
Investment 60
Disciplined investing over empire-building
Low Volatility 84
Calm price path (market factor)
Momentum 51
Price trend over the last 3–12 months (market factor)
52W Momentum 49
Distance to the 52-week high (market factor)
Net Issuance 82
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

Taiwan Taxi Co.,Ltd. provides taxi services in Taiwan. Its taxi services include call a taxi; and moving house, fast fixing and delivery, designated driver, airport pick-up, special education student pick-up, and pet special pick-up services. The company was founded in 2005 and is based in Taipei, Taiwan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Taiwan Taxi Co reported revenue of 3.2B TWD in FY2025 versus 2.1B TWD in FY2021, a compound +10.9%/yr. Reported net income was 534M TWD in FY2025, compounding +21.7%/yr from FY2021.

Growth Quality 90/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
3.2B TWD
Latest YoY
+4.4%
Avg. growth/yr (3Y) 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.
+7.6%
Avg. growth/yr (5Y) 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.
+9.6%
Avg. growth/yr (10Y) 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.
+6.8%
Revenue +10.9%/yr
FY21 2.1B TWD
FY22 2.5B TWD
FY23 2.9B TWD
FY24 3.0B TWD
FY25 3.2B TWD
Net income +21.7%/yr
FY21 244M TWD
FY22 356M TWD
FY23 420M TWD
FY24 529M TWD
FY25 534M TWD

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Cite: Fair Value Calculator (2026). "Taiwan Taxi Co Fair Value". https://www.fairvalue-calculator.com/stock/2640

Peer Group

Railroads · 111 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 72 · Top 25%
Fair Value upside +25% · Above median
Return on equity (TTM) 28% · Top 25%
Return on assets 11% · Top 25%
Net margin (TTM) 17% · Top 25%
Operating margin (TTM) 22% · Top 25%
Revenue growth 6% · Above median
Dividend yield (TTM) 5.5% · Top 25%
Debt / equity 0.01× · Lower than 75% of peers

Valuation Multiples vs Railroads median · lower = cheaper

P/E (TTM) 16.2× · Cheaper than median
P/B 3.93× · Pricier than 75% of peers
P/S (TTM) 2.70× · Pricier than median
P/FCF 0.6× · Cheaper than median
EV/EBITDA 8.9× · Cheaper 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 66 · sector 28
FUTURE 28 · sector 20
PAST 100 · sector 31
HEALTH 100 · sector 88
DIVIDEND 100 · sector 41

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 Railroads stocks, each showing price versus our Fair Value estimate (as of Jul 23, 2026).

Stock Price Fair Value vs Fair Value
Union Pacific Corporation UNP $301.75 $144.60 -52%
CSX Corporation CSX $49.41 $12.85 -74%
Canadian Pacific Kansas City Limited CP $92.91 $35.00 -62%
Canadian National Railway Company CNI $128.22 $92.63 -28%
Norfolk Southern Corporation NSC $327.47 $117.90 -64%
Westinghouse Air Brake Technologies Corporation WAB $259.71 $144.80 -44%
Beijing-Shanghai High-Speed Railway Co 601816 ¥4.82 ¥5.65 +17%
CRRC Corporation 601766 ¥5.65 ¥9.53 +69%
Daqin Railway Co 601006 ¥4.85 ¥6.24 +29%
Hyundai Rotem Company 064350 167,700 KRW 125,182 KRW -25%

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Frequently asked questions

Is Taiwan Taxi Co (2640) overvalued or undervalued?
As of Jul 23, 2026, our model estimates a fair value of 183.10 TWD versus a price of 147.00 TWD, about +25% (undervalued).
What is the fair value of 2640?
Our model-based fair value for Taiwan Taxi Co is 183.10 TWD (as of Jul 23, 2026), built from audited fundamentals. The current price is 147.00 TWD.
What is the quality score of 2640?
Taiwan Taxi Co has a Quality Score of 72/100. 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 Taiwan Taxi Co (2640)?
Taiwan Taxi Co reported trailing-twelve-month revenue of about 3.2B TWD (latest available figure, as of Jul 23, 2026).
What is the net profit margin of 2640?
The net profit margin of Taiwan Taxi Co is about 17.1%, meaning it keeps roughly 17.1% of revenue as net income. Based on the latest reported figures.
Does Taiwan Taxi Co pay a dividend?
Taiwan Taxi Co currently shows a dividend yield of about 5.16% relative to its recent price (as of Jul 23, 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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