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Taiwan Pelican Express Co (2642) Fair Value & Analysis

Industrials · TW · Market cap 2.0B TWD

TP Taiwan Pelican Express Co 2642 · TW
Price20.35 TWD
Fair Value32.48 TWD
Upside+59.6%
Quality52/100
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Weak Growth
Loss-making · -3.4% net margin
generates free cash flow
2.49% dividend yield
Mixed vs. peers (4/10)
Narrow moat 13/100
Evidence: Medium Range 22.20 TWD – 42.75 TWD Share as image

Fair value as of: Jul 21, 2026

From 13 valuation models · updated 20 days ago

Fair value updated Jul 21, 2026, revised from 25.69 TWD to 32.48 TWD (+26.4%) since Jul 21, 2026. Share price −2.4% over the past month.

A solid business, screening 60% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (22.20 TWD). The market is more pessimistic than our downside scenario.
  • Solid quality (52/100) at a price below fair value, the discount is the argument here, not the business quality.
  • A fairly wide model range (22.20 TWD to 42.75 TWD) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

131.04 TWD 20.10 TWD Fair Value 32.48 TWD Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 21, 2026.

How to read this chart

60‑month range 20.10 TWD – 131.04 TWD · fair‑value band 22.20 TWD – 42.75 TWD · the 20.35 TWD price screens below the 32.48 TWD fair value. Dashed = 300-day average. As of Jul 21, 2026.

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Analysis

Taiwan Pelican Express Co (2642) currently trades at 20.35 TWD, while our model-based Fair Value estimate is 32.48 TWD, implying the stock looks roughly 59.6% undervalued today. The Quality Score stands at 52/100 (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: medium), always confirm before acting.

Over the trailing twelve months, Taiwan Pelican Express Co generated revenue of 3.7B TWD at a net margin of -3.4%. Revenue declined 16.3% year over year. It earns a return on equity of -6.5%. Net debt stands at 651M TWD. Fundamentals as of Jul 21, 2026

Our scenario range runs from 22.20 TWD (bear case) to 42.75 TWD (bull case); at 20.35 TWD, the current price sits below 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 40% below its 52-week high and 4% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -11% fair-value upside, at 60%, 2642 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 31.30 TWD 38.90 TWD 51.22 TWD 72
Gordon GGM 4.39 TWD 5.62 TWD 6.84 TWD 70
Rev-Margin DCF 28.68 TWD 38.44 TWD 50.30 TWD 67
All 13 models by family
DCF Models
FCF DCF 30.51 TWD 38.40 TWD 52.19 TWD 38
Owner Earnings 30.52 TWD 38.41 TWD 52.21 TWD 31
5Y Revenue Exit 28.68 TWD 38.03 TWD 51.21 TWD 39
5Y EBITDA Exit 29.21 TWD 38.94 TWD 51.41 TWD 41
10Y Revenue Exit 28.63 TWD 36.81 TWD 46.20 TWD 36
10Y EBITDA Exit 29.53 TWD 37.40 TWD 46.33 TWD 37
Dividend Discount
Gordon GGM 4.39 TWD 5.62 TWD 6.84 TWD 70
DDM Multi-Stage 4.39 TWD 5.89 TWD 7.63 TWD 61
Multiples
EV/EBITDA 31.68 TWD 39.81 TWD 47.93 TWD 54
EV/Revenue 29.11 TWD 38.46 TWD 47.81 TWD 43
Asset-Based
NCAV (Graham) 10.75 TWD 14.40 TWD 21.50 TWD 50
Growth DCF
Growth DCF 31.30 TWD 38.90 TWD 51.22 TWD 72
Rev-Margin DCF 28.68 TWD 38.44 TWD 50.30 TWD 67

Widest divergence: Multiples (38.46 TWD) versus Dividend Discount (5.62 TWD). Highest evidence: Growth DCF (72).

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Key figures & financial health

Revenue (TTM) 3.7B TWD
Revenue growth (YoY) -16.3%
Net margin -3.4%
Return on equity -6.5%
Free cash flow 229M TWD FY2025
Operating margin -8.3%
More key figures
EPS (TTM) -1.04 TWD
Dividend yield 2.3%
EPS growth (YoY) -15.3%
Net debt 651M TWD FY2025

Figures from reported company fundamentals · as of Jul 21, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 52/100

Of which business quality 53 · Market factors (momentum, volatility) 38

Profitability 19
Margins and returns on capital today
Quality Growth 26
Are margins and returns improving?
Cashflow 49
Earnings quality: real cash, not paper profit
Fin. Strength 65
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 89
Calm price path (market factor)
Momentum 22
Price trend over the last 3–12 months (market factor)
52W Momentum 8
Distance to the 52-week high (market factor)
Net Issuance 80
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 Pelican Express Co., Ltd. provides truck transportation, home delivery, and other professional logistic delivery services in Taiwan. It offers C2C, B2C, and C2B home-delivery services; and warehouse storage, logistics, and tally and packaging services. The company was founded in 1999 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 Pelican Express Co reported revenue of 3.8B TWD in FY2025 versus 4.5B TWD in FY2021, a compound −3.9%/yr. Reported net income was −99.5M TWD in FY2025.

Growth Quality 21/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
3.8B TWD
Latest YoY
−6.0%
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.
−5.5%
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.
−0.9%
Avg. growth/yr (15Y) 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.
+3.2%
Revenue −3.9%/yr
FY21 4.5B TWD
FY22 4.5B TWD
FY23 4.2B TWD
FY24 4.1B TWD
FY25 3.8B TWD
Net income
FY21 241M TWD
FY22 176M TWD
FY23 94.5M TWD
FY24 −9.3M TWD
FY25 −99.5M TWD

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Cite: Fair Value Calculator (2026). "Taiwan Pelican Express Co Fair Value". https://www.fairvalue-calculator.com/stock/2642

Peer Group

Integrated Freight & Logistics · 218 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 52 · Above median
Fair Value upside +60% · Top 25%
Return on assets -3% · Bottom 25%
Net margin (TTM) -3% · Bottom 25%
Operating margin (TTM) -8% · Bottom 25%
Revenue growth -16% · Bottom 25%
Dividend yield (TTM) 2.5% · Below median

Valuation Multiples vs Integrated Freight & Logistics median · lower = cheaper

P/S (TTM) 0.02× · Cheaper than 75% of peers
P/FCF 0.3× · Cheaper than 75% of peers

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 100 · sector 46
FUTURE 0 · sector 8
PAST 0 · sector 26
HEALTH 0 · sector 94
DIVIDEND 50 · sector 56

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 Integrated Freight & Logistics stocks, each showing price versus our Fair Value estimate (as of Jul 21, 2026).

Stock Price Fair Value vs Fair Value
United Parcel Service, Inc UPS $117.72 $104.58 -11%
FedEx Corporation FDX $314.69 $347.68 +10%
Deutsche Post AG DHL €57.22 €53.18 -7%
DSV A/S DSV kr 1,660 kr 712.57 -57%
Kuehne + Nagel International AG KNIN CHF 209.90 CHF 147.92 -30%
J.B. Hunt Transport Services, Inc JBHT $291.41 $133.80 -54%
S.F. Holding 002352 ¥31.91 ¥48.64 +52%
C.H. Robinson Worldwide, Inc CHRW $193.50 $86.56 -55%
Expeditors International of Washington, Inc EXPD $172.02 $115.95 -33%
ZTO Express (Cayman) Inc 2057 HK$181.40 HK$241.93 +33%

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Frequently asked questions

Is Taiwan Pelican Express Co (2642) overvalued or undervalued?
As of Jul 21, 2026, our model estimates a fair value of 32.48 TWD versus a price of 20.35 TWD, about +60% (undervalued).
What is the fair value of 2642?
Our model-based fair value for Taiwan Pelican Express Co is 32.48 TWD (as of Jul 21, 2026), built from audited fundamentals. The current price is 20.35 TWD.
What is the quality score of 2642?
Taiwan Pelican Express Co has a Quality Score of 52/100. 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 Pelican Express Co (2642)?
Taiwan Pelican Express Co reported trailing-twelve-month revenue of about 3.7B TWD (latest available figure, as of Jul 21, 2026).
What is the net profit margin of 2642?
The net profit margin of Taiwan Pelican Express Co is about -3.4%, meaning it is currently running at a net loss. Based on the latest reported figures.
Does Taiwan Pelican Express Co pay a dividend?
Taiwan Pelican Express Co currently shows a dividend yield of about 2.27% relative to its recent price (as of Jul 21, 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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