World Fitness Services Ltd (2762) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of World Fitness Services Ltd TWD 72.85, price TWD 79.00, upside -7.8%, quality 50 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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World Gym Corporation, together with its subsidiaries, operates and franchises fitness centers under the World Gym brand in Taiwan and internationally. It is also involved in the fitness brand trademark management; trademark licensing; and the provision of physical fitness-related services, programs, and technology-enabled solutions.
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World Gym Corporation, together with its subsidiaries, operates and franchises fitness centers under the World Gym brand in Taiwan and internationally. It is also involved in the fitness brand trademark management; trademark licensing; and the provision of physical fitness-related services, programs, and technology-enabled solutions. The company has a strategic partnership with HYROX. The company was formerly known as World Fitness Services Ltd. and changed its name to World Gym Corporation in May 2025. World Gym Corporation was founded in 1976 and is headquartered in Taichung, Taiwan.
Stock analysis
World Fitness Services Ltd (2762) currently trades at 79.00 TWD, while our model-based Fair Value estimate is 72.85 TWD, implying the stock looks roughly 8.4% fairly valued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 164.36 TWD per share, and 15 of the 24 models we run sit above the 79.00 TWD price.
Bear case: the Asset-Based group reads lowest at 17.74 TWD, and 9 of the 24 models stay below the price. Evidence for this calculation is high.
Scenario range: 61.80 TWD (bear) to 94.70 TWD (bull), the price of 79.00 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 50/100 (solid quality), in the Consumer Cyclical sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
World Fitness Services Ltd reported revenue of 11.0B TWD in FY2025 versus 7.8B TWD in FY2021, a compound +8.8%/yr. Reported net income was 409M TWD in FY2025, compounding +89.2%/yr from FY2021. FY2021 was a trough year, so the rate overstates the trend.
Key figures
Market cap 8.6B TWD (≈ $271M) · P/E ratio 21.1 · P/S ratio 0.79 · EPS (TTM) 3.74 TWD · Dividend yield 12.1% · Net margin 3.7% · Return on equity 19.9% · Return on assets (EBIT) 2.6%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 46 out of 100 (low confidence).
What moves the price
The share trades about 8% below its 52-week high and 21% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at 38% fair-value upside, at −8%, 2762 screens richer than that median.
Fair Value models
Bear 61.80 TWDFair Value 72.85 TWDBull 94.70 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.69/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+11.9%
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.
+7.4%
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.
+3.0%
Start year 2020 (pandemic)
’20
’21
’22
’23
’24
’25
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.
+45.7%
Earnings growth per share plus dividend.
Earnings per share, growth per year+33.6%
Dividend (yield on the price)12.1%
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.13% → 6%
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).
−14.8%
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 −16.2% a year for the price.
Compare World Fitness Services 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.Leisure · 189 stocks
Beats the industry median on 10/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score50 · Below median
Fair Value upside−8% · Below median
Profitability
Return on equity (TTM)20% · Top 25%
Return on assets3% · Above median
Net margin (TTM)5% · Above median
Operating margin (TTM)11% · Above median
Growth and dividend
Revenue growth9% · Above median
Dividend yield (TTM)12.1% · Top 25%
Balance sheet
Debt / equity0.08× · Below median
Valuation Multiplesvs Leisure median · lower = cheaper
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Is World Fitness Services Ltd (2762) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 72.85 TWD versus a price of 79.00 TWD, about −8% upside (fairly valued).
What is the fair value of 2762?
Our model-based fair value for World Fitness Services Ltd is 72.85 TWD (as of Sep 24, 2026), built from audited fundamentals. The current price: 79.00 TWD.
What is the quality score of 2762?
World Fitness Services Ltd has a Quality Score of 50/100. 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 World Fitness Services Ltd (2762)?
Our model-based price target is the fair value of 72.85 TWD (as of Sep 24, 2026) from 24 valuation models. Cautious scenario 61.80 TWD, optimistic scenario 94.70 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the World Fitness Services Ltd stock forecast for 2026?
Our models put fair value at 72.85 TWD, about −8% upside versus a price of 79.00 TWD (fairly valued). Cautious scenario 61.80 TWD, optimistic scenario 94.70 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of World Fitness Services Ltd (2762)?
World Fitness Services Ltd reported trailing-twelve-month revenue of about 11.2B TWD (latest available figure, as of Sep 24, 2026).
Does World Fitness Services Ltd pay a dividend?
World Fitness Services Ltd currently shows a dividend yield of about 12.14% relative to its recent price (as of Sep 24, 2026).
What growth is priced into World Fitness Services Ltd (2762)?
For today's price to be fair in a discounted-cash-flow model, World Fitness Services Ltd would have to grow free cash flow by -14.8 % per year for five years (discount rate 11.8 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +3.0 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 2762 use?
Our models discount World Fitness Services Ltd at 11.8 %: a base by market capitalisation (micro), damped by beta 0.29, 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 World Fitness Services Ltd that is -14.8 % per year a year over ten years, using the same discount rate (11.8 %) and the same formula as our fair value.
How much growth has World Fitness Services Ltd (2762) delivered so far?
Over the past 5 years revenue at World Fitness Services Ltd grew +3.0 % a year. The price currently implies -14.8 % 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 World Fitness Services Ltd (2762) growing?
The median revenue growth in the sector is +6.4 % a year. That is the yardstick for the growth priced into World Fitness Services Ltd (-14.8 % 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 World Fitness Services Ltd (2762)?
The free-cash-flow yield on the price is 21.76 %: that much free cash flow World Fitness Services Ltd produces per unit of market value. When it exceeds the discount rate of our models (11.8 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of World Fitness Services Ltd (2762)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For World Fitness Services Ltd it is 72.85 TWD per share (as of Sep 24, 2026), against a price of 79.00 TWD. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is World Fitness Services Ltd stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 2762 trades above its calculated fair value: price 79.00 TWD, fair value 72.85 TWD, a gap of about −8% (fairly valued). 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 2762?
No. The price is what the market pays today (79.00 TWD); the fair value is what the company's own numbers justify (72.85 TWD). For World Fitness Services Ltd the two are 6.15 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is World Fitness Services Ltd worth?
The market values World Fitness Services Ltd at about 8.6B TWD (market capitalisation, as of Sep 24, 2026). Per share that is 79.00 TWD; our models calculate a fair value of 72.85 TWD per share.
What do the bullish and bearish scenarios say about 2762?
Our models span a range for World Fitness Services Ltd: cautious scenario 61.80 TWD, base 72.85 TWD, optimistic 94.70 TWD per share (as of Sep 24, 2026, price 79.00 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 2762?
World Fitness Services Ltd trades at a price-to-earnings ratio of 21.1 (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 72.85 TWD is built from several models across several years. Other multiples: P/B 3.0, P/S 0.8, EV/EBITDA 4.4.
How solid is the balance sheet of World Fitness Services Ltd (2762)?
Balance-sheet figures for World Fitness Services Ltd (as of Sep 24, 2026): return on equity 19.9%, debt of 0.08 per unit of equity. They feed the Quality Score of 50/100, which measures business quality independently of the share price.
How far is 2762 from its 52-week high?
World Fitness Services Ltd trades at 79.00 TWD, about 8% below its 52-week high of 86.07 TWD and 21% above the low of 65.55 TWD (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 72.85 TWD is for.
Which stocks are comparable to World Fitness Services Ltd?
From the same area (Consumer Cyclical) we also value ANTA Sports Products Limited, Pop Mart International Group, Amer Sports, Inc, Hasbro, 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 World Fitness Services Ltd stock attractive at the current price?
The data as of Sep 24, 2026: price 79.00 TWD, calculated fair value 72.85 TWD (−8%), Quality Score 50/100, from 24 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 2762 calculated?
We run World Fitness Services Ltd through 24 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 72.85 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. World Fitness Services 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 World Fitness Services Ltd (2762)?
The closing price on Sep 24, 2026 was 79.00 TWD. Our model-based fair value is 72.85 TWD, about −8% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with World Fitness Services Ltd right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. The price sits in the upper half of our model range, so the margin of safety is thin. The data supports the verdict: every model runs on fully documented inputs.
Key figures of World Fitness Services Ltd
How large is the market capitalisation of World Fitness Services Ltd (2762)?
The market capitalisation of World Fitness Services Ltd is 8.6B TWD (≈ $271M). 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 World Fitness Services Ltd (2762)?
The price-to-sales ratio of World Fitness Services Ltd is 0.79 (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 World Fitness Services Ltd (2762)?
Earnings per share at World Fitness Services Ltd are 3.74 TWD (price ÷ EPS = P/E 21.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of World Fitness Services Ltd (2762)?
The dividend yield of World Fitness Services Ltd is 12.1%. 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 World Fitness Services Ltd (2762)?
The net margin of World Fitness Services Ltd is 3.7% (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 World Fitness Services Ltd (2762)?
The return on equity (ROE) of World Fitness Services Ltd is 19.9% (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 World Fitness Services Ltd (2762)?
On an EBIT basis the return on assets of World Fitness Services Ltd is 2.6% (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 World Fitness Services Ltd (2762)?
The operating margin of World Fitness Services Ltd is 10.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at World Fitness Services Ltd (2762)?
Revenue at World Fitness Services Ltd is growing +9.4% versus a year earlier (3y avg +7.4%). 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 World Fitness Services Ltd (2762)?
Earnings per share at World Fitness Services Ltd are growing +344% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does World Fitness Services Ltd (2762) carry?
The net debt of World Fitness Services Ltd is 10.2B TWD (fiscal year 2025, ≈ 5.4 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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