TTFB Co Ltd (2729) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of TTFB Co Ltd stock TWD 115, price TWD 145, that is 20.5% below the price, quality 49 out of 100. Rating: overvalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 4, 2026.
How to read this chart
60‑month range 98.50 TWD – 214.82 TWD · fair‑value band 75.53 TWD – 167.55 TWD · the 145.00 TWD price screens above the 115.26 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 4, 2026.
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TTFB Company Limited engages in chain catering businesses in Taiwan, Shanghai, and Suzhou.
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The company operates a chain of restaurants, as well as it involves wholesale and retail of food and beverages; retail agricultural and aquatic products; and research and development, manufacture, and sale of automated equipment systems.
It also engages in information software industry, cleaning and environmental protection services, etc. TTFB Company Limited was founded in 1990 and is based in New Taipei City, Taiwan.
Stock analysis
TTFB Co Ltd (2729) currently trades at 145.00 TWD, while our model-based Fair Value estimate is 115.26 TWD, 21% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of 142.74 TWD per share, and 6 of the 26 models we run sit above the 145.00 TWD price.
Bear case: the Asset-Based group reads lowest at 36.90 TWD, and 20 of the 26 models stay below the price. Data coverage for this calculation is high.
Scenario range: 75.53 TWD (bear) to 167.55 TWD (bull), the price of 145.00 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 49/100 (below-average quality), in the Consumer Cyclical sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
TTFB Co Ltd reported revenue of 6.1B TWD in FY2025 versus 4.2B TWD in FY2021, a compound +9.6%/yr. Reported net income was 289M TWD in FY2025, compounding +15.8%/yr from FY2021.
Key figures
Market cap 6.2B TWD (≈ $188M) Micro · P/E ratio 23.6 · P/S ratio 0.98 · EPS (TTM) 6.15 TWD · Dividend yield 4.0% · Net margin 4.1% · Return on equity 11.3% · Return on assets (EBIT) 6.5% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 44 out of 100 (low confidence).
What moves the price
The share trades about 17% below its 52-week high and at its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at −30% fair-value upside, at −21%, 2729 screens cheaper than that median.
Fair Value models
Bear75.53 TWDFair Value 115.26 TWDBull167.55 TWD
Price 145.00 TWD · Downside -20.5%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (0.3001 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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = 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.66/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+0.5%
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.
+10.4%
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.
+5.8%
Start year 2020 (pandemic). Over 10 years: +5.9% a year
Revenue growth 15 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.
+12.1%
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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.
−2.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year−6.3%
Dividend (yield on the price)4.0%
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.−6.3% vs −1.5%, 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.10% → 6%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far.
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).
+24.1%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Taiwan: IMF forecast 1.6% a year to 2030, 1.5% from 2016 to 2025) that is about +22.2% a year for the price.
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.Restaurants · 200 stocks
Beats the industry median on 9/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score49 · Below median
Fair Value upside−20.5% · Below median
Profitability
Return on equity (12 months)11.3% · Above median
Return on assets4.6% · Above median
Net margin (12 months)4.1% · Above median
Operating margin (12 months)7.2% · Above median
Growth and dividend
Revenue growth (quarter YoY)12.5% · Top 25%
Dividend yield (12 months)4.0% · Above median
Balance sheet
Debt / equity0.01× · Below median
Valuation Multiplesvs Restaurants median · lower = cheaper
P/E (12 months)23.6× · Pricier than median
P/B2.53× · Pricier than median
P/S (12 months)0.98× · Cheaper than median
Price / free cash flow (fiscal year)23.3× · Pricier than median
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). "TTFB Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/2729
Frequently asked questions
Is TTFB Co Ltd (2729) overvalued or undervalued?
As of Nov 4, 2026, our model estimates a fair value of 115.26 TWD versus a price of 145.00 TWD, about 21% lower (overvalued).
What is the fair value of 2729?
Our model-based fair value for TTFB Co Ltd is 115.26 TWD (as of Nov 4, 2026), built from audited fundamentals. The current price: 145.00 TWD.
What is the quality score of 2729?
TTFB Co Ltd has a Quality Score of 49/100. 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 TTFB Co Ltd (2729)?
Our model-based price target is the fair value of 115.26 TWD (as of Nov 4, 2026) from 26 valuation models. Cautious scenario 75.53 TWD, optimistic scenario 167.55 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the TTFB Co Ltd stock forecast for 2026?
Our models put fair value at 115.26 TWD, about 21% lower versus a price of 145.00 TWD (overvalued). Cautious scenario 75.53 TWD, optimistic scenario 167.55 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of TTFB Co Ltd (2729)?
TTFB Co Ltd reported trailing-twelve-month revenue of about 6.3B TWD (latest available figure, as of Nov 4, 2026).
Does TTFB Co Ltd pay a dividend?
TTFB Co Ltd currently shows a dividend yield of 4.00% relative to its recent price (as of Nov 4, 2026).
How much is the dividend of TTFB Co Ltd (2729) and when is the ex-dividend date?
TTFB Co Ltd pays a dividend of 5.80 TWD per share a year, a dividend yield of 4.0%. The last ex-dividend date was Aug 25, 2026. A dividend has been paid every year since at least 2012. The payout ratio is 94.3% of earnings. Free cash flow covers the dividend 1.09 times. Our assessment: Watch coverage. The dividend isn’t fully covered by free cash flow or earnings, part of it is funded from reserves or debt. Fine for now, but worth watching: if it stays uncovered, the dividend could be cut.
What growth is priced into TTFB Co Ltd (2729)?
For today's price to be fair in a discounted-cash-flow model, TTFB Co Ltd would have to grow free cash flow by +24.1 % per year for five years (discount rate 13.3 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +5.8 % per year. As of Nov 4, 2026.
What discount rate (WACC) does the fair value of 2729 use?
Our models discount TTFB Co Ltd at 13.3 %: a base by market capitalisation (micro), 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 TTFB Co Ltd that is +24.1 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (13.3 %) and the same formula as our fair value.
How much growth has TTFB Co Ltd (2729) delivered so far?
Over the past 5 years revenue at TTFB Co Ltd grew +5.8 % a year. The price currently implies free-cash-flow growth of +24.1 % per 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 TTFB Co Ltd (2729) growing?
The median revenue growth in the sector is +4.7 % a year. That is the yardstick for the growth priced into TTFB Co Ltd (+24.1 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of TTFB Co Ltd (2729)?
The free-cash-flow yield on the price is 4.29 %: that much free cash flow TTFB Co Ltd produces per unit of market value. When it exceeds the discount rate of our models (13.3 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of TTFB Co Ltd (2729)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For TTFB Co Ltd it is 115.26 TWD per share (as of Nov 4, 2026), against a price of 145.00 TWD. It is the blended result of 26 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is TTFB Co Ltd stock overvalued or undervalued in 2026?
As of Nov 4, 2026, 2729 trades above its calculated fair value: price 145.00 TWD, fair value 115.26 TWD, a gap of about −21% (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 2729?
No. The price is what the market pays today (145.00 TWD); the fair value is what the company's own numbers justify (115.26 TWD). For TTFB Co Ltd the two are 29.74 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is TTFB Co Ltd worth?
The market values TTFB Co Ltd at about 6.2B TWD (market capitalisation, as of Nov 4, 2026). Per share that is 145.00 TWD; our models calculate a fair value of 115.26 TWD per share.
What do the bullish and bearish scenarios say about 2729?
Our models span a range for TTFB Co Ltd: cautious scenario 75.53 TWD, base 115.26 TWD, optimistic 167.55 TWD per share (as of Nov 4, 2026, price 145.00 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 2729?
TTFB Co Ltd trades at a price-to-earnings ratio of 23.6 (as of Nov 4, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 115.26 TWD is built from several models across several years. Other multiples: P/B 2.5, P/S 1.0, EV/EBITDA 8.5.
How solid is the balance sheet of TTFB Co Ltd (2729)?
Balance-sheet figures for TTFB Co Ltd (as of Nov 4, 2026): return on equity 11.3%, debt of 0.01 per unit of equity. They feed the Quality Score of 49/100, which measures business quality independently of the share price.
How far is 2729 from its 52-week high?
TTFB Co Ltd trades at 145.00 TWD, about 17% below its 52-week high of 174.72 TWD and at the low of 145.00 TWD (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 115.26 TWD is for.
Which stocks are comparable to TTFB Co Ltd?
From the same area (Consumer Cyclical) we also value McDonald's Corporation, Starbucks Corporation, Yum! Brands, Inc, Chipotle Mexican Grill, Inc, 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 TTFB Co Ltd stock attractive at the current price?
The data as of Nov 4, 2026: price 145.00 TWD, calculated fair value 115.26 TWD (−21%), Quality Score 49/100, 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 2729 calculated?
We run TTFB Co Ltd through 26 models from 8 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of 115.26 TWD builds on their evidence-weighted average, 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 13.3% above its aggregate fair value. TTFB 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 TTFB Co Ltd (2729)?
The closing price on Nov 6, 2026 was 145.00 TWD. Our model-based fair value is 115.26 TWD, about 21% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with TTFB Co Ltd right now?
Weak quality (49/100) and above fair value at the same time, the margin of safety is missing on both counts. A fairly wide model range (75.53 TWD to 167.55 TWD) leaves room in how you read the outcome.
Where does the earnings growth of TTFB Co Ltd (2729) come from?
Earnings per share at TTFB Co Ltd grew −0.6 % a year from 2012 to 2023. Broken into its drivers: revenue per share +7.1 %, EBIT margin −6.1 %, tax rate −0.5 %, residual (interest, one-offs) −0.6 %. 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 TTFB Co Ltd
How large is the market capitalisation of TTFB Co Ltd (2729)?
The market capitalisation of TTFB Co Ltd is 6.2B TWD (≈ $188M). 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 TTFB Co Ltd (2729)?
The price-to-sales ratio of TTFB Co Ltd is 0.98 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of TTFB Co Ltd (2729)?
Earnings per share at TTFB Co Ltd are 6.15 TWD (price ÷ EPS = P/E 23.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of TTFB Co Ltd (2729)?
The dividend yield of TTFB Co Ltd is 4.0% (payout 94.3%). 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 TTFB Co Ltd (2729)?
The net margin of TTFB Co Ltd is 4.1% (last twelve months). 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 TTFB Co Ltd (2729)?
The return on equity (ROE) of TTFB Co Ltd is 11.3% (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 TTFB Co Ltd (2729)?
On an EBIT basis the return on assets of TTFB Co Ltd is 6.5% (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 TTFB Co Ltd (2729)?
The operating margin of TTFB Co Ltd is 7.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at TTFB Co Ltd (2729)?
Revenue at TTFB Co Ltd is growing +12.5% versus a year earlier (3y avg +10.4%). 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 TTFB Co Ltd (2729)?
Earnings per share at TTFB Co Ltd are growing −4.1% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does TTFB Co Ltd (2729) carry?
The net debt of TTFB Co Ltd is 1.0B TWD (fiscal year 2025, ≈ 4.0 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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Broad data
Nov 4, 2026