Eslite Spectrum (2926) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Eslite Spectrum TWD 11.87, price TWD 30.10, upside -60.6%, quality 52 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Eslite Spectrum Corporation, together with its subsidiaries, operates department stores in Taiwan, Hong Kong, China, Japan, and Malaysia. It operates through Omni-Channel Development Business, Hospitality Business, Hotel Business, and Other segments.
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Eslite Spectrum Corporation, together with its subsidiaries, operates department stores in Taiwan, Hong Kong, China, Japan, and Malaysia. It operates through Omni-Channel Development Business, Hospitality Business, Hotel Business, and Other segments. The company also provides management counseling, hotel management, logistics and warehousing, engineering, and cultural and creative industry agency services. In addition, it engages in trading and import of appliances and equipment for hotel and kitchen use; import agency and retail of foods; the operation of cafes and restaurants; sale and installation of equipment; and online retail activities. The company was incorporated in 2005 and is based in Taipei, Taiwan. Eslite Spectrum Corporation is a subsidiary of The Eslite Corporation.
Stock analysis
Eslite Spectrum (2926) currently trades at 30.10 TWD, while our model-based Fair Value estimate is 11.87 TWD, implying the stock looks roughly 153.5% overvalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of 11.87 TWD per share, and 12 of the 23 models we run sit above the 30.10 TWD price.
Bear case: the Dividend Discount group reads lowest at 2.72 TWD, and 11 of the 23 models stay below the price. Evidence for this calculation is low.
Scenario range: 8.90 TWD (bear) to 14.84 TWD (bull), the price of 30.10 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 52/100 (solid quality), in the Consumer Cyclical sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Eslite Spectrum reported revenue of 7.0B TWD in FY2025 versus 4.7B TWD in FY2021, a compound +10.5%/yr. Reported net income was 25.6M TWD in FY2025.
Key figures
Market cap 1.4B TWD (≈ $44.9M) · P/E ratio 55.7 · P/S ratio 0.20 · EPS (TTM) 0.5400 TWD · Dividend yield 1.5% · Net margin 0.4% · Return on equity 4.1% · Return on assets (EBIT) −0.4%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 32 out of 100 (medium confidence).
What moves the price
The share trades about 32% 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 −61%, 2926 screens richer than that median.
Fair Value models
Bear 8.90 TWDFair Value 11.87 TWDBull 14.84 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. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (0.0585 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.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.78/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+1.8%
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.
+7.7%
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.
+8.9%
Start year 2020 (pandemic). Over 10 years: +6.2% a year
Revenue growth 10 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.
+6.2%
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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.
−27.7%
Earnings growth per share plus dividend.
Earnings per share, growth per year−29.2%
Dividend (yield on the price)1.5%
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.7% → 0%
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 · 119 stocks
Beats the industry median on 5/14 measures
Overall it trails its industry peers.
Valuation
Quality Score52 · Below median
Fair Value upside−61% · Bottom 25%
Profitability
Return on equity (TTM)4% · Above median
Return on assets0% · Bottom 25%
Net margin (TTM)0% · Below median
Operating margin (TTM)0% · Bottom 25%
Growth and dividend
Revenue growth5% · Above median
Dividend yield (TTM)1.5% · Below median
Balance sheet
Debt / equity3.05× · Highest 25%
Valuation Multiplesvs Department Stores median · lower = cheaper
P/E (TTM)55.7× · Priciest 25%
P/B2.33× · Pricier than median
P/S (TTM)0.20× · Cheapest 25%
P/FCF0.0× · Cheapest 25%
EV/EBITDA5.7× · Cheaper than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 44
FUTURE (revenue growth)23· sector 0
PAST (return on equity)17· sector 16
HEALTH (low debt)0· sector 95
DIVIDEND (yield)31· sector 46
VALUE 0: the price sits above our fair-value range.
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). "Eslite Spectrum Fair Value". https://www.fairvalue-calculator.com/stock/2926
Frequently asked questions
Is Eslite Spectrum (2926) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 11.87 TWD versus a price of 30.10 TWD, about −61% upside (overvalued).
What is the fair value of 2926?
Our model-based fair value for Eslite Spectrum is 11.87 TWD (as of Sep 24, 2026), built from audited fundamentals. The current price: 30.10 TWD.
What is the quality score of 2926?
Eslite Spectrum has a Quality Score of 52/100. 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 Eslite Spectrum (2926)?
Our model-based price target is the fair value of 11.87 TWD (as of Sep 24, 2026) from 23 valuation models. Cautious scenario 8.90 TWD, optimistic scenario 14.84 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Eslite Spectrum stock forecast for 2026?
Our models put fair value at 11.87 TWD, about −61% upside versus a price of 30.10 TWD (overvalued). Cautious scenario 8.90 TWD, optimistic scenario 14.84 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Eslite Spectrum (2926)?
Eslite Spectrum reported trailing-twelve-month revenue of about 7.0B TWD (latest available figure, as of Sep 24, 2026).
Does Eslite Spectrum pay a dividend?
Eslite Spectrum currently shows a dividend yield of about 1.53% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of Eslite Spectrum (2926)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Eslite Spectrum it is 11.87 TWD per share (as of Sep 24, 2026), against a price of 30.10 TWD. It is the blended result of 23 valuation models (cash flow, earnings, asset, dividend).
Is Eslite Spectrum stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 2926 trades above its calculated fair value: price 30.10 TWD, fair value 11.87 TWD, a gap of about −61% (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 2926?
No. The price is what the market pays today (30.10 TWD); the fair value is what the company's own numbers justify (11.87 TWD). For Eslite Spectrum the two are 18.23 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Eslite Spectrum worth?
The market values Eslite Spectrum at about 1.4B TWD (market capitalisation, as of Sep 24, 2026). Per share that is 30.10 TWD; our models calculate a fair value of 11.87 TWD per share.
What do the bullish and bearish scenarios say about 2926?
Our models span a range for Eslite Spectrum: cautious scenario 8.90 TWD, base 11.87 TWD, optimistic 14.84 TWD per share (as of Sep 24, 2026, price 30.10 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 2926?
Eslite Spectrum trades at a price-to-earnings ratio of 55.7 (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 11.87 TWD is built from several models across several years. Other multiples: P/B 2.3, P/S 0.2, EV/EBITDA 5.7.
How solid is the balance sheet of Eslite Spectrum (2926)?
Balance-sheet figures for Eslite Spectrum (as of Sep 24, 2026): return on equity 4.1%, debt of 3.05 per unit of equity. They feed the Quality Score of 52/100, which measures business quality independently of the share price.
How far is 2926 from its 52-week high?
Eslite Spectrum trades at 30.10 TWD, about 32% below its 52-week high of 44.02 TWD and 1% above the low of 29.80 TWD (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 11.87 TWD is for.
Which stocks are comparable to Eslite Spectrum?
From the same area (Consumer Cyclical) we also value Falabella S.A, Dillard's, Inc, 99 Speed Mart Retail Holdings, Cencosud S.A, 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 Eslite Spectrum stock attractive at the current price?
The data as of Sep 24, 2026: price 30.10 TWD, calculated fair value 11.87 TWD (−61%), Quality Score 52/100, from 23 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 2926 calculated?
We run Eslite Spectrum through 23 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 11.87 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 14.0 % above its aggregate fair value. Eslite Spectrum 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 Eslite Spectrum (2926)?
The closing price on Sep 23, 2026 was 30.10 TWD. Our model-based fair value is 11.87 TWD, about −61% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Eslite Spectrum right now?
The price sits above even our optimistic bull case (14.84 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 (52/100) and above fair value, neither a clear bargain nor a standout compounder.
Key figures of Eslite Spectrum
How large is the market capitalisation of Eslite Spectrum (2926)?
The market capitalisation of Eslite Spectrum is 1.4B TWD (≈ $44.9M). 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 Eslite Spectrum (2926)?
The price-to-sales ratio of Eslite Spectrum is 0.20 (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 Eslite Spectrum (2926)?
Earnings per share at Eslite Spectrum are 0.5400 TWD (price ÷ EPS = P/E 55.7). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Eslite Spectrum (2926)?
The dividend yield of Eslite Spectrum is 1.5% (payout 85.2%). 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 Eslite Spectrum (2926)?
The net margin of Eslite Spectrum is 0.4% (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 Eslite Spectrum (2926)?
The return on equity (ROE) of Eslite Spectrum is 4.1% (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 Eslite Spectrum (2926)?
On an EBIT basis the return on assets of Eslite Spectrum is −0.4% (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 Eslite Spectrum (2926)?
The operating margin of Eslite Spectrum is 0.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Eslite Spectrum (2926)?
Revenue at Eslite Spectrum is growing +4.5% versus a year earlier (3y avg +7.7%). 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 Eslite Spectrum (2926)?
Earnings per share at Eslite Spectrum are growing +6.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Eslite Spectrum (2926) generate?
The free cash flow of Eslite Spectrum is 1.3B TWD (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Eslite Spectrum (2926) carry?
The net debt of Eslite Spectrum is 872M TWD (fiscal year 2025, ≈ 0.7 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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