Shin Shin Co Ltd (2901) fair value: what the stock is really worth
As of Nov 9, 2026: fair value (intrinsic value) of Shin Shin Co Ltd stock TWD 8.31, price TWD 25.05, that is 66.8% below the price, quality 72 out of 100. Rating: strongly overvalued. Calculated from audited financials with 24 of our 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 7, 2026.
How to read this chart
60‑month range 22.45 TWD – 31.60 TWD · fair‑value band 7.51 TWD – 9.97 TWD · the 25.05 TWD price screens above the 8.31 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 7, 2026.
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Shin Shin Co Ltd. operates supermarkets, department store retail, cinemas, parking lots, leasing, and other business in Taiwan. It also offers VAC products, military fashion, and customized gifts. The company was founded in 1971 and is based in Taipei, Taiwan.
Stock analysis
Shin Shin Co Ltd (2901) currently trades at 25.05 TWD, while our model-based Fair Value estimate is 8.31 TWD, 67% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 12.64 TWD per share, and 1 of the 24 models we run sit above the 25.05 TWD price.
Bear case: the Dividend Discount group reads lowest at 2.71 TWD, and 23 of the 24 models stay below the price. Data coverage for this calculation is low.
Scenario range: 7.51 TWD (bear) to 9.97 TWD (bull), the price of 25.05 TWD sits above 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 72/100 (solid quality), in the Consumer Cyclical sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Shin Shin Co Ltd reported revenue of 131M TWD in FY2025 versus 92.9M TWD in FY2021, a compound +8.9%/yr. Reported net income was 27.7M TWD in FY2025, compounding +54.4%/yr from FY2021. FY2021 was a trough year, so the rate overstates the trend.
Key figures
Market cap 1.8B TWD (≈ $55.7M) Micro · P/E ratio 56.9 · P/S ratio 13.7 · EPS (TTM) 0.4400 TWD · Dividend yield 1.5% · Net margin 24.1% · Return on equity 3.7% · Return on assets (EBIT) 1.5% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 54 out of 100 (low confidence).
What moves the price
The share trades about 2% below its 52-week high and 12% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at 10% fair-value upside, at −67%, 2901 screens richer than that median.
Fair Value models
Bear7.51 TWDFair Value 8.31 TWDBull9.97 TWD
Price 25.05 TWD · Downside -66.8%
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 (0.0600 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.65/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−2.2%
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.
+4.9%
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.
+3.7%
Start year 2020 (pandemic). Over 10 years: −1.8% a year
Revenue growth 23 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.
−6.9%
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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.
≈ +16.0%
Earnings growth per share plus dividend.
Earnings per share, growth per year≈ +14.5%
Dividend (yield on the price)1.5%
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.base effect: 14.5% / −2.5%
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.8% → 16%
⚠ Revenue per share shrinking 1.2%/yr over ~10Y (margins eroding too) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
⚠ Base effect: the rate starts in the earnings trough around 2020 (starting value 0.19 per share, median 0.45 in 2015 to 2018). It measures the recovery from the trough, not lasting growth.
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).
+23.2%
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 +21.3% 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.Department Stores · 107 stocks
Beats the industry median on 4/14 measures
Overall it trails its industry peers.
Valuation
Quality Score72 · Top 25%
Fair Value upside−66.8% · Bottom 25%
Profitability
Return on equity (12 months)3.7% · Below median
Return on assets2.6% · Above median
Net margin (12 months)24.1% · Top 25%
Operating margin (12 months)16.1% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)−1.9% · Below median
Dividend yield (12 months)1.5% · Below median
Valuation Multiplesvs Department Stores 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). "Shin Shin Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/2901
Frequently asked questions
Is Shin Shin Co Ltd (2901) overvalued or undervalued?
As of Nov 7, 2026, our model estimates a fair value of 8.31 TWD versus a price of 25.05 TWD, about 67% lower (overvalued).
What is the fair value of 2901?
Our model-based fair value for Shin Shin Co Ltd is 8.31 TWD (as of Nov 7, 2026), built from audited fundamentals. The current price: 25.05 TWD.
What is the quality score of 2901?
Shin Shin Co Ltd has a Quality Score of 72/100. 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 Shin Shin Co Ltd (2901)?
Our model-based price target is the fair value of 8.31 TWD (as of Nov 7, 2026) from 24 valuation models. Cautious scenario 7.51 TWD, optimistic scenario 9.97 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Shin Shin Co Ltd stock forecast for 2026?
Our models put fair value at 8.31 TWD, about 67% lower versus a price of 25.05 TWD (overvalued). Cautious scenario 7.51 TWD, optimistic scenario 9.97 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Shin Shin Co Ltd (2901)?
Shin Shin Co Ltd reported trailing-twelve-month revenue of about 133M TWD (latest available figure, as of Nov 7, 2026).
Does Shin Shin Co Ltd pay a dividend?
Shin Shin Co Ltd currently shows a dividend yield of 1.48% relative to its recent price (as of Nov 7, 2026).
How much is the dividend of Shin Shin Co Ltd (2901) and when is the ex-dividend date?
Shin Shin Co Ltd pays a dividend of 0.37 TWD per share a year, a dividend yield of 1.5%. The last ex-dividend date was Aug 27, 2026. The payout ratio is 84.1% of earnings. Free cash flow covers the dividend 1.91 times. Our assessment: Sustainable. Payout and cash coverage both look sustainable.
What growth is priced into Shin Shin Co Ltd (2901)?
For today's price to be fair in a discounted-cash-flow model, Shin Shin Co Ltd would have to grow free cash flow by +23.2 % 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 +3.7 % per year. As of Nov 7, 2026.
What discount rate (WACC) does the fair value of 2901 use?
Our models discount Shin Shin 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 Shin Shin Co Ltd that is +23.2 % 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 Shin Shin Co Ltd (2901) delivered so far?
Over the past 5 years revenue at Shin Shin Co Ltd grew +3.7 % a year. The price currently implies free-cash-flow growth of +23.2 % 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 Shin Shin Co Ltd (2901) growing?
The median revenue growth in the sector is +3.6 % a year. That is the yardstick for the growth priced into Shin Shin Co Ltd (+23.2 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Shin Shin Co Ltd (2901)?
The free-cash-flow yield on the price is 2.82 %: that much free cash flow Shin Shin 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 Shin Shin Co Ltd (2901)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Shin Shin Co Ltd it is 8.31 TWD per share (as of Nov 7, 2026), against a price of 25.05 TWD. It is the blended result of 24 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Shin Shin Co Ltd stock overvalued or undervalued in 2026?
As of Nov 7, 2026, 2901 trades above its calculated fair value: price 25.05 TWD, fair value 8.31 TWD, a gap of about −67% (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 2901?
No. The price is what the market pays today (25.05 TWD); the fair value is what the company's own numbers justify (8.31 TWD). For Shin Shin Co Ltd the two are 16.74 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Shin Shin Co Ltd worth?
The market values Shin Shin Co Ltd at about 1.8B TWD (market capitalisation, as of Nov 7, 2026). Per share that is 25.05 TWD; our models calculate a fair value of 8.31 TWD per share.
What do the bullish and bearish scenarios say about 2901?
Our models span a range for Shin Shin Co Ltd: cautious scenario 7.51 TWD, base 8.31 TWD, optimistic 9.97 TWD per share (as of Nov 7, 2026, price 25.05 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 2901?
Shin Shin Co Ltd trades at a price-to-earnings ratio of 56.9 (as of Nov 7, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 8.31 TWD is built from several models across several years. Median P/E at fiscal year-end, 10 fiscal years (2016 to 2025), reported earnings: 65.6. Other multiples: PEG 2.4, P/B 2.1, P/S 13.7, EV/EBITDA 36.2.
What is the PEG ratio of 2901?
The PEG ratio of Shin Shin Co Ltd is 2.36 (P/E divided by earnings growth, as of Nov 7, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Shin Shin Co Ltd (2901)?
Balance-sheet figures for Shin Shin Co Ltd (as of Nov 7, 2026): return on equity 3.7%. They feed the Quality Score of 72/100, which measures business quality independently of the share price.
How far is 2901 from its 52-week high?
Shin Shin Co Ltd trades at 25.05 TWD, about 2% below its 52-week high of 25.50 TWD and 12% above the low of 22.45 TWD (as of Nov 9, 2026). Distance from the high says nothing about value: that is what the fair value of 8.31 TWD is for.
Which stocks are comparable to Shin Shin Co Ltd?
From the same area (Consumer Cyclical) we also value Falabella S.A, Dillard's, Inc, 99 Speed Mart Retail Holdings, Macy's, 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 Shin Shin Co Ltd stock attractive at the current price?
The data as of Nov 7, 2026: price 25.05 TWD, calculated fair value 8.31 TWD (−67%), Quality Score 72/100, 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 2901 calculated?
We run Shin Shin Co Ltd through 24 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 8.31 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. Shin Shin 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 Shin Shin Co Ltd (2901)?
The closing price on Nov 9, 2026 was 25.05 TWD. Our model-based fair value is 8.31 TWD, about 67% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Shin Shin Co Ltd right now?
The price sits above even our optimistic bull case (9.97 TWD). The favourable scenario is already priced in. 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 but not exceptional quality (72/100) and above fair value, neither a clear bargain nor a standout compounder.
Where does the earnings growth of Shin Shin Co Ltd (2901) come from?
Earnings per share at Shin Shin Co Ltd grew −2.2 % a year from 2014 to 2025. Broken into its drivers: revenue per share −1.5 %, EBIT margin −2.6 %, tax rate −0.6 %, residual (interest, one-offs) +2.5 %. 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 Shin Shin Co Ltd
How large is the market capitalisation of Shin Shin Co Ltd (2901)?
The market capitalisation of Shin Shin Co Ltd is 1.8B TWD (≈ $55.7M). 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 Shin Shin Co Ltd (2901)?
The price-to-sales ratio of Shin Shin Co Ltd is 13.7 (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 Shin Shin Co Ltd (2901)?
Earnings per share at Shin Shin Co Ltd are 0.4400 TWD (price ÷ EPS = P/E 56.9). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Shin Shin Co Ltd (2901)?
The dividend yield of Shin Shin Co Ltd is 1.5% (payout 84.1%). 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 Shin Shin Co Ltd (2901)?
The net margin of Shin Shin Co Ltd is 24.1% (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 Shin Shin Co Ltd (2901)?
The return on equity (ROE) of Shin Shin Co Ltd is 3.7% (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 Shin Shin Co Ltd (2901)?
On an EBIT basis the return on assets of Shin Shin Co Ltd is 1.5% (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 Shin Shin Co Ltd (2901)?
The operating margin of Shin Shin Co Ltd is 16.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Shin Shin Co Ltd (2901)?
Revenue at Shin Shin Co Ltd is growing −1.9% versus a year earlier (3y avg +4.9%). 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 Shin Shin Co Ltd (2901)?
Earnings per share at Shin Shin Co Ltd are growing +37.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Shin Shin Co Ltd (2901) hold?
Shin Shin Co Ltd holds more cash than debt, 411M TWD net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Thin data
Nov 7, 2026