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World Gym Corporation (2762) Fair Value & Analysis

Consumer Cyclical · TW · Market cap 9.3B TWD

WG World Gym Corporation 2762 · TW
Price84.80 TWD
Fair Value63.67 TWD
Upside-24.9%
Quality50/100
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Healthy Growth
Thin margins · 5.2% net margin
Low debt · generates free cash flow
11.06% dividend yield
Ranks above peers (10/14)
Moderate moat 49/100
Evidence: High Range 56.18 TWD – 86.97 TWD Share as image

Fair value as of: Jul 23, 2026

From 24 valuation models · updated 18 days ago

Share price +7.5% over the past month.

A solid business, but screening 25% overvalued on our models.

What matters now

  • Solid but not exceptional quality (50/100) and above fair value, neither a clear bargain nor a standout compounder.
  • Our model range runs from 56.18 TWD (bear) to 86.97 TWD (bull), base 63.67 TWD. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 50/100 (solid quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (3 years)

93.10 TWD 60.83 TWD Fair Value 63.67 TWD Jan 2024 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

31‑month range 60.83 TWD – 93.10 TWD · fair‑value band 56.18 TWD – 86.97 TWD · the 84.80 TWD price screens above the 63.67 TWD fair value. Dashed = 300-day average. As of Jul 23, 2026.

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Analysis

World Gym Corporation (2762) currently trades at 84.80 TWD, while our model-based Fair Value estimate is 63.67 TWD, implying the stock looks roughly 24.9% overvalued today. The Quality Score stands at 50/100 (solid quality), in the Consumer Cyclical sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, World Gym Corporation generated revenue of 11.2B TWD at a net margin of 5.2%. Revenue grew 9.4% year over year. It earns a return on equity of 19.9%. Net debt stands at 10.2B TWD. Fundamentals as of Jul 23, 2026

Our scenario range runs from 56.18 TWD (bear case) to 86.97 TWD (bull case); at 84.80 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 7% below its 52-week high and 25% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at 2% fair-value upside, at -25%, 2762 screens richer 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 195.22 TWD 281.28 TWD 399.72 TWD 80
Residual Income 25.51 TWD 31.90 TWD 73.78 TWD 76
Rev-Margin DCF 107.47 TWD 147.28 TWD 194.19 TWD 74
All 24 models by family
DCF Models
FCF DCF 192.71 TWD 290.70 TWD 434.52 TWD 38
Owner Earnings 145.55 TWD 218.65 TWD 325.95 TWD 31
5Y Revenue Exit 107.47 TWD 144.64 TWD 189.28 TWD 39
5Y EBITDA Exit 226.14 TWD 366.94 TWD 531.04 TWD 41
5Y P/E Exit 106.01 TWD 141.90 TWD 178.01 TWD 38
10Y Revenue Exit 136.07 TWD 177.10 TWD 227.84 TWD 36
10Y EBITDA Exit 211.68 TWD 328.10 TWD 483.17 TWD 37
10Y P/E Exit 136.76 TWD 175.25 TWD 219.42 TWD 35
Earnings-Based
Graham-Dodd 25.47 TWD 79.91 TWD 106.36 TWD 54
Lynch FV 17.46 TWD 24.94 TWD 32.43 TWD 50
PEG = 1.0 17.46 TWD 24.94 TWD 32.43 TWD 46
EPV 52.77 TWD 59.99 TWD 66.23 TWD 59
Multiples
P/E Multiple 56.18 TWD 74.91 TWD 93.64 TWD 63
P/S Multiple 47.75 TWD 63.67 TWD 79.59 TWD 58
P/B Multiple 47.75 TWD 63.67 TWD 79.59 TWD 55
EV/EBIT 88.36 TWD 115.48 TWD 142.59 TWD 53
EV/EBITDA 274.76 TWD 364.01 TWD 453.26 TWD 54
EV/Revenue 61.85 TWD 85.35 TWD 108.85 TWD 43
Asset-Based
NCAV (Graham) 13.24 TWD 17.74 TWD 26.48 TWD 50
Growth DCF
Growth DCF 195.22 TWD 281.28 TWD 399.72 TWD 80
Rev-Margin DCF 107.47 TWD 147.28 TWD 194.19 TWD 74
Economic Profit
Residual Income 25.51 TWD 31.90 TWD 73.78 TWD 76
ROIC Compounder 55.84 TWD 67.61 TWD 80.73 TWD 72
Growth Earnings
Growth-Adj P/E 46.83 TWD 66.90 TWD 86.97 TWD 68

Widest divergence: DCF Models (177.10 TWD) versus Asset-Based (17.74 TWD). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 11.2B TWD
Revenue growth (YoY) +9.4%
Net margin 5.2%
Return on equity 19.9%
Free cash flow 1.9B TWD FY2025
P/E ratio 22.8
More key figures
Operating margin 10.7%
EPS (TTM) 3.74 TWD
Dividend yield 11.1%
EPS growth (YoY) +344%
Net debt 10.2B TWD FY2025

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

Quality Score breakdown

Overall quality 50/100

Of which business quality 49 · Market factors (momentum, volatility) 74

Profitability 33
Margins and returns on capital today
Quality Growth 46
Are margins and returns improving?
Cashflow 78
Earnings quality: real cash, not paper profit
Fin. Strength 26
Balance sheet, leverage, solvency risk
Investment 71
Disciplined investing over empire-building
Low Volatility 92
Calm price path (market factor)
Momentum 65
Price trend over the last 3–12 months (market factor)
52W Momentum 68
Distance to the 52-week high (market factor)
Net Issuance 47
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

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.

Full company description

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.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

World Gym Corporation 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.

Growth Quality 69/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
11.0B TWD
Latest YoY
+11.9%
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.
+7.4%
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.
+3.0%
Revenue +8.8%/yr
FY21 7.8B TWD
FY22 8.9B TWD
FY23 9.4B TWD
FY24 9.8B TWD
FY25 11.0B TWD
Net income +89.2%/yr
FY21 31.9M TWD
FY22 304M TWD
FY23 350M TWD
FY24 352M TWD
FY25 409M TWD

2762 screens 25% overvalued. Compare with ANTA Sports Products Limited →

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Cite: Fair Value Calculator (2026). "World Gym Corporation Fair Value". https://www.fairvalue-calculator.com/stock/2762

Peer Group

Leisure · 190 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 50 · Below median
Fair Value upside −25% · Below median
Return on equity (TTM) 20% · Top 25%
Return on assets 3% · Above median
Net margin (TTM) 5% · Above median
Operating margin (TTM) 11% · Above median
Revenue growth 9% · Above median
Dividend yield (TTM) 11.1% · Top 25%
Debt / equity 0.08× · Lower than median

Valuation Multiples vs Leisure median · lower = cheaper

P/E (TTM) 22.8× · Pricier than median
P/B 3.22× · Pricier than 75% of peers
P/S (TTM) 0.83× · Cheaper than median
P/FCF 0.2× · Cheaper than 75% of peers
EV/EBITDA 4.8× · 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 0 · sector 14
FUTURE 47 · sector 18
PAST 80 · sector 19
HEALTH 96 · sector 94
DIVIDEND 100 · sector 51

VALUE 0: the price sits above our fair-value range.

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

Stock Price Fair Value vs Fair Value
ANTA Sports Products Limited 2020 HK$74.15 HK$119.29 +61%
Pop Mart International Group 9992 HK$160.20 HK$227.30 +42%
Amer Sports, Inc AS $36.44 $16.16 -56%
Hasbro, Inc HAS $81.55 $83.38 +2%
Life Time Group LTH $42.15 $16.15 -62%
Acushnet Holdings GOLF $114.78 $37.79 -67%
Li Ning Company 2331 HK$14.80 HK$29.26 +98%
Benefit Systems S.A BFT 5,255 PLN 3,714 PLN -29%
Ninebot Limited 689009 ¥37.82 ¥39.17 +4%
Asmodee Group ASMDEEB kr 145.70 kr 41.90 -71%

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Frequently asked questions

Is World Gym Corporation (2762) overvalued or undervalued?
As of Jul 23, 2026, our model estimates a fair value of 63.67 TWD versus a price of 84.80 TWD, about −25% (overvalued).
What is the fair value of 2762?
Our model-based fair value for World Gym Corporation is 63.67 TWD (as of Jul 23, 2026), built from audited fundamentals. The current price is 84.80 TWD.
What is the quality score of 2762?
World Gym Corporation 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 revenue of World Gym Corporation (2762)?
World Gym Corporation reported trailing-twelve-month revenue of about 11.2B TWD (latest available figure, as of Jul 23, 2026).
What is the net profit margin of 2762?
The net profit margin of World Gym Corporation is about 5.2%, meaning it keeps roughly 5.2% of revenue as net income. Based on the latest reported figures.
Does World Gym Corporation pay a dividend?
World Gym Corporation currently shows a dividend yield of about 10.67% 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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