Ezfly International Travel Agent Co. Ltd. (2734) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Ezfly International Travel Agent Co. Ltd. TWD 33.41, price TWD 14.50, upside +130.4%, quality 51 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range 14.40 TWD – 76.90 TWD · fair‑value band 22.33 TWD – 55.91 TWD · the 14.50 TWD price screens below the 33.41 TWD fair value. Dashed = 300-day average. As of Sep 24, 2026.
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Ezfly International Travel Agent Co., Ltd., together with its subsidiaries, operates an online ticketing and booking mechanism in Taiwan. It operates through Tour Department and Other Department segments. The company offers ticket purchase services; and sells domestic air tickets, and foreign individual and group air tickets.
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Ezfly International Travel Agent Co., Ltd., together with its subsidiaries, operates an online ticketing and booking mechanism in Taiwan. It operates through Tour Department and Other Department segments. The company offers ticket purchase services; and sells domestic air tickets, and foreign individual and group air tickets. It also provides domestic and international room reservation, group travel, mini tour, group and airline free travel, and theme tickets; foreign dynamic packaged independent travel, domestic high-speed rail holiday travel, and domestic bus travel; and various European and Japanese railway tickets, visas, and other travel products. In addition, the company offers instant reservation services through its ezfly.com website. Further, it provides trading and data processing services; and is involved in the non-store front retail business. The company was formerly known as Ezfly Technology Co, Ltd. and changed its name to Ezfly International Travel Agent Co., Ltd. in June 2013. Ezfly International Travel Agent Co., Ltd. was founded in 1988 and is headquartered in Taipei, Taiwan.
Stock analysis
Ezfly International Travel Agent Co. Ltd. (2734) currently trades at 14.50 TWD, while our model-based Fair Value estimate is 33.41 TWD, implying the stock looks roughly 56.6% undervalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of 36.68 TWD per share, and 8 of the 10 models we run sit above the 14.50 TWD price.
Bear case: the Multiples group reads lowest at 7.19 TWD, and 2 of the 10 models stay below the price. Evidence for this calculation is low.
Scenario range: 22.33 TWD (bear) to 55.91 TWD (bull), the price of 14.50 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 51/100 (solid quality), in the Consumer Cyclical sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Ezfly International Travel Agent Co. Ltd. reported revenue of 1.6B TWD in FY2025 versus 198M TWD in FY2021, a compound +69.7%/yr. Reported net income was −81.4M TWD in FY2025.
Key figures
Market cap 830M TWD (≈ $26.1M) · P/S ratio 0.48 · EPS (TTM) −1.42 TWD · Net margin −5.0% · Return on equity −7.6% · Return on assets (EBIT) −4.3% · Operating margin 4.2% · Revenue (TTM) 1.8B TWD.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (low confidence).
What moves the price
The share trades about 30% below its 52-week high and 1% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at 10% fair-value upside, at 130%, 2734 screens cheaper than that median.
Fair Value models
Bear 22.33 TWDFair Value 33.41 TWDBull 55.91 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.62/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+2.6%
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.
+55.7%
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.
+31.1%
Start year 2020 (pandemic)
Revenue growth 6 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.
+9.1%
’19
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Profit margin (trend) ⓘ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.
−16.6% (2020) → −1.0% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed
Growth Forecast
Little optimism in the price
The price assumes less 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).
−16.2%
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 −17.5% a year for the price.
Compare Ezfly International Travel Agent 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.Travel Services · 88 stocks
Beats the industry median on 5/9 measures
A mixed picture versus its industry peers.
Valuation
Quality Score51 · Below median
Fair Value upside+130% · Top 25%
Profitability
Return on assets1% · Bottom 25%
Net margin (TTM)−3% · Bottom 25%
Operating margin (TTM)4% · Below median
Growth and dividend
Revenue growth38% · Top 25%
Balance sheet
Debt / equity0.01× · Below median
Valuation Multiplesvs Travel Services median · lower = cheaper
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). "Ezfly International Travel Agent Co. Ltd. Fair Value". https://www.fairvalue-calculator.com/stock/2734
Frequently asked questions
Is Ezfly International Travel Agent Co. Ltd. (2734) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 33.41 TWD versus a price of 14.50 TWD, about +130% upside (undervalued).
What is the fair value of 2734?
Our model-based fair value for Ezfly International Travel Agent Co. Ltd. is 33.41 TWD (as of Sep 24, 2026), built from audited fundamentals. The current price: 14.50 TWD.
What is the quality score of 2734?
Ezfly International Travel Agent Co. Ltd. has a Quality Score of 51/100. 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 Ezfly International Travel Agent Co. Ltd. (2734)?
Our model-based price target is the fair value of 33.41 TWD (as of Sep 24, 2026) from 10 valuation models. Cautious scenario 22.33 TWD, optimistic scenario 55.91 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Ezfly International Travel Agent Co. Ltd. stock forecast for 2026?
Our models put fair value at 33.41 TWD, about +130% upside versus a price of 14.50 TWD (undervalued). Cautious scenario 22.33 TWD, optimistic scenario 55.91 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Ezfly International Travel Agent Co. Ltd. (2734)?
Ezfly International Travel Agent Co. Ltd. reported trailing-twelve-month revenue of about 1.8B TWD (latest available figure, as of Sep 24, 2026).
What growth is priced into Ezfly International Travel Agent Co. Ltd. (2734)?
For today's price to be fair in a discounted-cash-flow model, Ezfly International Travel Agent Co. Ltd. would have to grow free cash flow by -16.2 % per year for five years (discount rate 9.0 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +31.1 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 2734 use?
Our models discount Ezfly International Travel Agent Co. Ltd. at 9.0 %: a base by market capitalisation (nano), damped by beta 0.13, 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 Ezfly International Travel Agent Co. Ltd. that is -16.2 % per year a year over ten years, using the same discount rate (9.0 %) and the same formula as our fair value.
How much growth has Ezfly International Travel Agent Co. Ltd. (2734) delivered so far?
Over the past 5 years revenue at Ezfly International Travel Agent Co. Ltd. grew +31.1 % a year. The price currently implies -16.2 % 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 Ezfly International Travel Agent Co. Ltd. (2734) growing?
The median revenue growth in the sector is +2.6 % a year. That is the yardstick for the growth priced into Ezfly International Travel Agent Co. Ltd. (-16.2 % 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 Ezfly International Travel Agent Co. Ltd. (2734)?
The free-cash-flow yield on the price is 9.13 %: that much free cash flow Ezfly International Travel Agent Co. Ltd. produces per unit of market value. When it exceeds the discount rate of our models (9.0 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Ezfly International Travel Agent Co. Ltd. (2734)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Ezfly International Travel Agent Co. Ltd. it is 33.41 TWD per share (as of Sep 24, 2026), against a price of 14.50 TWD. It is the blended result of 10 valuation models (cash flow, earnings, asset, dividend).
Is Ezfly International Travel Agent Co. Ltd. stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 2734 trades below its calculated fair value: price 14.50 TWD, fair value 33.41 TWD, a gap of about +130% (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 2734?
No. The price is what the market pays today (14.50 TWD); the fair value is what the company's own numbers justify (33.41 TWD). For Ezfly International Travel Agent Co. Ltd. the two are 18.91 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Ezfly International Travel Agent Co. Ltd. worth?
The market values Ezfly International Travel Agent Co. Ltd. at about 830M TWD (market capitalisation, as of Sep 24, 2026). Per share that is 14.50 TWD; our models calculate a fair value of 33.41 TWD per share.
What do the bullish and bearish scenarios say about 2734?
Our models span a range for Ezfly International Travel Agent Co. Ltd.: cautious scenario 22.33 TWD, base 33.41 TWD, optimistic 55.91 TWD per share (as of Sep 24, 2026, price 14.50 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Ezfly International Travel Agent Co. Ltd. (2734)?
Balance-sheet figures for Ezfly International Travel Agent Co. Ltd. (as of Sep 24, 2026): return on equity −7.6%, debt of 0.01 per unit of equity. They feed the Quality Score of 51/100, which measures business quality independently of the share price.
How far is 2734 from its 52-week high?
Ezfly International Travel Agent Co. Ltd. trades at 14.50 TWD, about 30% below its 52-week high of 20.80 TWD and 1% above the low of 14.40 TWD (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 33.41 TWD is for.
Which stocks are comparable to Ezfly International Travel Agent Co. Ltd.?
From the same area (Consumer Cyclical) we also value Booking Holdings, Airbnb, Inc, Royal Caribbean Cruises Ltd, Viking Holdings, 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 Ezfly International Travel Agent Co. Ltd. stock attractive at the current price?
The data as of Sep 24, 2026: price 14.50 TWD, calculated fair value 33.41 TWD (+130%), Quality Score 51/100, from 10 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 2734 calculated?
We run Ezfly International Travel Agent Co. Ltd. through 10 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 33.41 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. Ezfly International Travel Agent Co. Ltd. currently trades 130 % 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 Ezfly International Travel Agent Co. Ltd. (2734)?
The closing price on Sep 24, 2026 was 14.50 TWD. Our model-based fair value is 33.41 TWD, about +130% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Ezfly International Travel Agent Co. Ltd. right now?
The price is below even our cautious bear case (22.33 TWD). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid quality (51/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (22.33 TWD to 55.91 TWD) leaves room in how you read the outcome.
Key figures of Ezfly International Travel Agent Co. Ltd.
How large is the market capitalisation of Ezfly International Travel Agent Co. Ltd. (2734)?
The market capitalisation of Ezfly International Travel Agent Co. Ltd. is 830M TWD (≈ $26.1M). 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 Ezfly International Travel Agent Co. Ltd. (2734)?
The price-to-sales ratio of Ezfly International Travel Agent Co. Ltd. is 0.48 (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 Ezfly International Travel Agent Co. Ltd. (2734)?
Earnings per share at Ezfly International Travel Agent Co. Ltd. are −1.42 TWD. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Ezfly International Travel Agent Co. Ltd. (2734)?
The net margin of Ezfly International Travel Agent Co. Ltd. is −5.0% (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 Ezfly International Travel Agent Co. Ltd. (2734)?
The return on equity (ROE) of Ezfly International Travel Agent Co. Ltd. is −7.6% (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 Ezfly International Travel Agent Co. Ltd. (2734)?
On an EBIT basis the return on assets of Ezfly International Travel Agent Co. Ltd. is −4.3% (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 Ezfly International Travel Agent Co. Ltd. (2734)?
The operating margin of Ezfly International Travel Agent Co. Ltd. is 4.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Ezfly International Travel Agent Co. Ltd. (2734)?
Revenue at Ezfly International Travel Agent Co. Ltd. is growing +38.1% versus a year earlier (3y avg +55.7%). 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 Ezfly International Travel Agent Co. Ltd. (2734)?
Earnings per share at Ezfly International Travel Agent Co. Ltd. are growing −21.8% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Ezfly International Travel Agent Co. Ltd. (2734) hold?
Ezfly International Travel Agent Co. Ltd. holds more cash than debt, 113M TWD net (fiscal year 2023). The company holds more cash than debt, a safety cushion.
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