Test-Rite International Co (2908) Fair Value & Analysis
Consumer Cyclical · TW · Market cap 11.2B TWD
Fair value as of: Jul 21, 2026
From 20 valuation models · updated 20 days ago
Share price −0.2% over the past month.
Below-average quality, and screening another 58% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (9.18 TWD). The favourable scenario is already priced in.
- Weak quality (41/100) and above fair value at the same time, the margin of safety is missing on both counts.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 21, 2026.
How to read this chart
60‑month range 18.27 TWD – 23.56 TWD · fair‑value band 6.85 TWD – 9.18 TWD · the 21.80 TWD price screens above the 9.18 TWD fair value. Dashed = 300-day average. As of Jul 21, 2026.
Analysis
Test-Rite International Co (2908) currently trades at 21.80 TWD, while our model-based Fair Value estimate is 9.18 TWD, implying the stock looks roughly 57.9% overvalued today. The Quality Score stands at 41/100 (below-average 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: medium).
Over the trailing twelve months, Test-Rite International Co generated revenue of 34.5B TWD at a net margin of 0.6%. Revenue grew 9.9% year over year. It earns a return on equity of 1.1%. Net debt stands at 19.1B TWD. Fundamentals as of Jul 21, 2026
Our scenario range runs from 6.85 TWD (bear case) to 9.18 TWD (bull case); at 21.80 TWD, the current price sits above 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 near 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 -21% fair-value upside, at -58%, 2908 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.
All 20 models by family
Widest divergence: Economic Profit (9.20 TWD) versus Earnings-Based (2.16 TWD). Highest evidence: Growth DCF (80).
Notify me when 2908 reaches fair value
Free. You confirm by email (double opt-in) and can unsubscribe anytime in one click.
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 21, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 40 · Market factors (momentum, volatility) 68
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
Test-Rite International Co., Ltd. imports and exports hand tools, auto parts, machinery, furniture, and other home appliances in the United States of America, Canada, Great Britain, France, Germany, and Australia. It also operates retail chain stores and sells home-related products. The company engages in real estate development and planning business.
Full company description
Test-Rite International Co., Ltd. imports and exports hand tools, auto parts, machinery, furniture, and other home appliances in the United States of America, Canada, Great Britain, France, Germany, and Australia. It also operates retail chain stores and sells home-related products. The company engages in real estate development and planning business. In addition, it is involved in mechanical and electrical related construction activities. Further, the company engages in logistics warehousing related business. Test-Rite International Co., Ltd. was incorporated in 1978 and is headquartered in Taipei, Taiwan.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Test-Rite International Co reported revenue of 33.6B TWD in FY2025 versus 43.8B TWD in FY2021, a compound −6.4%/yr. Reported net income was 115M TWD in FY2025, compounding −38.1%/yr from FY2021.
of which total revenue −0.2 pp · buybacks/dilution −0.1 pp
Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).
2908 screens 58% overvalued. Compare with The Home Depot, Inc →
Peer Group
Home Improvement Retail · 36 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.
Valuation Multiples vs Home Improvement Retail median · lower = cheaper
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: 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.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Home Improvement Retail stocks, each showing price versus our Fair Value estimate (as of Jul 21, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| The Home Depot, Inc HD | $337.74 | $236.85 | -30% |
| Lowe's Companies, Inc LOW | $209.66 | $186.32 | -11% |
| Wesfarmers Limited WES | A$92.80 | A$50.50 | -46% |
| Floor & Decor Holdings FND | $56.40 | $32.81 | -42% |
| Mr D.I.Y. Group 5296 | 1.70 MYR | 1.47 MYR | -14% |
| Home Product Center Public Company HMPROR | 6.65 THB | 6.31 THB | -5% |
| Siam Global House Public Company GLOBAL | 7.50 THB | 5.96 THB | -21% |
| Dohome Public Company DOHOME | 3.86 THB | 2.90 THB | -25% |
| Haverty Furniture Companies, Inc HVT | $25.66 | $22.53 | -12% |
| Bourrelier Group ALBOU | €67.00 | €37.21 | -44% |
Compare Test-Rite International Co with another stock
Price, fair value, quality and upside side by side.
Explore undervalued stocks
More undervalued Consumer Cyclical stocks →
Frequently asked questions
Is Test-Rite International Co (2908) overvalued or undervalued?
What is the fair value of 2908?
What is the quality score of 2908?
What is the revenue of Test-Rite International Co (2908)?
What is the net profit margin of 2908?
Does Test-Rite International Co pay a dividend?
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.
Track Test-Rite International Co and try Pro for 14 days
One email gets you 14 days of full Pro (review alerts, the 35,000+ stock screener, the diversification check) plus the monthly Top-25 report of the most undervalued quality stocks. No card, cancel anytime.
Zero risk: nothing is ever charged. After 14 days you decide whether to stay.