Zhen Yu Hardware Co., Ltd. (2947) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Zhen Yu Hardware Co., Ltd. TWD 47.10, price TWD 60.40, upside -22.0%, quality 50 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Zhen Yu Hardware Co., Ltd. engages in the wholesale and retail of hardware in China. The company was founded in 1977 and is based in Taichung, Taiwan.
Stock analysis
Zhen Yu Hardware Co., Ltd. (2947) currently trades at 60.40 TWD, while our model-based Fair Value estimate is 47.10 TWD, implying the stock looks roughly 28.2% overvalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 112.22 TWD per share, and 13 of the 26 models we run sit above the 60.40 TWD price.
Bear case: the Earnings-Based group reads lowest at 21.36 TWD, and 13 of the 26 models stay below the price. Evidence for this calculation is high.
Scenario range: 33.31 TWD (bear) to 60.89 TWD (bull), the price of 60.40 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.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Zhen Yu Hardware Co., Ltd. reported revenue of 2.3B TWD in FY2025 versus 1.7B TWD in FY2021, a compound +7.4%/yr. Reported net income was 67.2M TWD in FY2025, compounding −11.7%/yr from FY2021.
Key figures
Market cap 1.5B TWD (≈ $48.1M) · P/E ratio 21.0 · P/S ratio 0.61 · EPS (TTM) 2.87 TWD · Dividend yield 3.2% · Net margin 2.9% · Return on equity 8.0% · Return on assets (EBIT) 3.8%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (low confidence).
What moves the price
The share trades about 92% 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 4% fair-value upside, at −22%, 2947 screens richer than that median.
Fair Value models
Bear 33.31 TWDFair Value 47.10 TWDBull 60.89 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 (0.7056 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.76/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+5.7%
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.
+7.8%
Start year 2020 (pandemic)
Revenue growth 6 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.
+8.6%
’19
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’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.
−9.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year−12.5%
Dividend (yield on the price)3.2%
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.9% → 4%
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).
−11.9%
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 −13.3% a year for the price.
Compare Zhen Yu Hardware Co., 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.Specialty Retail · 230 stocks
Beats the industry median on 5/14 measures
Overall it trails its industry peers.
Valuation
Quality Score50 · Below median
Fair Value upside−22% · Below median
Profitability
Return on equity (TTM)8% · Above median
Return on assets2% · Below median
Net margin (TTM)3% · Above median
Operating margin (TTM)5% · Above median
Growth and dividend
Revenue growth6% · Above median
Dividend yield (TTM)3.2% · Below median
Balance sheet
Debt / equity0.47× · Above median
Valuation Multiplesvs Specialty Retail median · lower = cheaper
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Is Zhen Yu Hardware Co., Ltd. (2947) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 47.10 TWD versus a price of 60.40 TWD, about −22% upside (overvalued).
What is the fair value of 2947?
Our model-based fair value for Zhen Yu Hardware Co., Ltd. is 47.10 TWD (as of Sep 24, 2026), built from audited fundamentals. The current price: 60.40 TWD.
What is the quality score of 2947?
Zhen Yu Hardware Co., 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 Zhen Yu Hardware Co., Ltd. (2947)?
Our model-based price target is the fair value of 47.10 TWD (as of Sep 24, 2026) from 26 valuation models. Cautious scenario 33.31 TWD, optimistic scenario 60.89 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Zhen Yu Hardware Co., Ltd. stock forecast for 2026?
Our models put fair value at 47.10 TWD, about −22% upside versus a price of 60.40 TWD (overvalued). Cautious scenario 33.31 TWD, optimistic scenario 60.89 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Zhen Yu Hardware Co., Ltd. (2947)?
Zhen Yu Hardware Co., Ltd. reported trailing-twelve-month revenue of about 2.3B TWD (latest available figure, as of Sep 24, 2026).
Does Zhen Yu Hardware Co., Ltd. pay a dividend?
Zhen Yu Hardware Co., Ltd. currently shows a dividend yield of about 3.16% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Zhen Yu Hardware Co., Ltd. (2947)?
For today's price to be fair in a discounted-cash-flow model, Zhen Yu Hardware Co., Ltd. would have to grow free cash flow by -11.9 % per year for five years (discount rate 9.0 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +7.8 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 2947 use?
Our models discount Zhen Yu Hardware Co., Ltd. at 9.0 %: a base by market capitalisation (nano), damped by beta 0.10, 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 Zhen Yu Hardware Co., Ltd. that is -11.9 % per year a year over ten years, using the same discount rate (9.0 %) and the same formula as our fair value.
How much growth has Zhen Yu Hardware Co., Ltd. (2947) delivered so far?
Over the past 5 years revenue at Zhen Yu Hardware Co., Ltd. grew +7.8 % a year. The price currently implies -11.9 % 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 Zhen Yu Hardware Co., Ltd. (2947) growing?
The median revenue growth in the sector is +6.4 % a year. That is the yardstick for the growth priced into Zhen Yu Hardware Co., Ltd. (-11.9 % 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 Zhen Yu Hardware Co., Ltd. (2947)?
The free-cash-flow yield on the price is 17.85 %: that much free cash flow Zhen Yu Hardware Co., Ltd. produces per unit of market value. When it exceeds the discount rate of our models (9.0 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Zhen Yu Hardware Co., Ltd. (2947)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Zhen Yu Hardware Co., Ltd. it is 47.10 TWD per share (as of Sep 24, 2026), against a price of 60.40 TWD. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is Zhen Yu Hardware Co., Ltd. stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 2947 trades above its calculated fair value: price 60.40 TWD, fair value 47.10 TWD, a gap of about −22% (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 2947?
No. The price is what the market pays today (60.40 TWD); the fair value is what the company's own numbers justify (47.10 TWD). For Zhen Yu Hardware Co., Ltd. the two are 13.30 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Zhen Yu Hardware Co., Ltd. worth?
The market values Zhen Yu Hardware Co., Ltd. at about 1.5B TWD (market capitalisation, as of Sep 24, 2026). Per share that is 60.40 TWD; our models calculate a fair value of 47.10 TWD per share.
What do the bullish and bearish scenarios say about 2947?
Our models span a range for Zhen Yu Hardware Co., Ltd.: cautious scenario 33.31 TWD, base 47.10 TWD, optimistic 60.89 TWD per share (as of Sep 24, 2026, price 60.40 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 2947?
Zhen Yu Hardware Co., Ltd. trades at a price-to-earnings ratio of 21.0 (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 47.10 TWD is built from several models across several years. Other multiples: P/B 1.9, P/S 0.7, EV/EBITDA 9.9.
How solid is the balance sheet of Zhen Yu Hardware Co., Ltd. (2947)?
Balance-sheet figures for Zhen Yu Hardware Co., Ltd. (as of Sep 24, 2026): return on equity 8.0%, debt of 0.47 per unit of equity. They feed the Quality Score of 50/100, which measures business quality independently of the share price.
How far is 2947 from its 52-week high?
Zhen Yu Hardware Co., Ltd. trades at 60.40 TWD, about 92% below its 52-week high of 786.58 TWD and 1% above the low of 60.00 TWD (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 47.10 TWD is for.
Which stocks are comparable to Zhen Yu Hardware Co., Ltd.?
From the same area (Consumer Cyclical) we also value Alimentation Couche-Tard Inc, Casey's General Stores, Inc, Williams-Sonoma, Inc, Ulta Beauty, 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 Zhen Yu Hardware Co., Ltd. stock attractive at the current price?
The data as of Sep 24, 2026: price 60.40 TWD, calculated fair value 47.10 TWD (−22%), Quality Score 50/100, from 26 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 2947 calculated?
We run Zhen Yu Hardware Co., Ltd. through 26 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 47.10 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. Zhen Yu Hardware 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 Zhen Yu Hardware Co., Ltd. (2947)?
The closing price on Sep 23, 2026 was 60.40 TWD. Our model-based fair value is 47.10 TWD, about −22% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Zhen Yu Hardware Co., Ltd. right now?
Solid but not exceptional quality (50/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (33.31 TWD to 60.89 TWD) leaves room in how you read the outcome.
Key figures of Zhen Yu Hardware Co., Ltd.
How large is the market capitalisation of Zhen Yu Hardware Co., Ltd. (2947)?
The market capitalisation of Zhen Yu Hardware Co., Ltd. is 1.5B TWD (≈ $48.1M). 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 Zhen Yu Hardware Co., Ltd. (2947)?
The price-to-sales ratio of Zhen Yu Hardware Co., Ltd. is 0.61 (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 Zhen Yu Hardware Co., Ltd. (2947)?
Earnings per share at Zhen Yu Hardware Co., Ltd. are 2.87 TWD (price ÷ EPS = P/E 21.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Zhen Yu Hardware Co., Ltd. (2947)?
The dividend yield of Zhen Yu Hardware Co., Ltd. is 3.2% (payout 66.5%). 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 Zhen Yu Hardware Co., Ltd. (2947)?
The net margin of Zhen Yu Hardware Co., Ltd. is 2.9% (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 Zhen Yu Hardware Co., Ltd. (2947)?
The return on equity (ROE) of Zhen Yu Hardware Co., Ltd. is 8.0% (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 Zhen Yu Hardware Co., Ltd. (2947)?
On an EBIT basis the return on assets of Zhen Yu Hardware Co., Ltd. is 3.8% (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 Zhen Yu Hardware Co., Ltd. (2947)?
The operating margin of Zhen Yu Hardware Co., Ltd. is 5.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Zhen Yu Hardware Co., Ltd. (2947)?
Revenue at Zhen Yu Hardware Co., Ltd. is growing +6.1% 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 Zhen Yu Hardware Co., Ltd. (2947)?
Earnings per share at Zhen Yu Hardware Co., Ltd. are growing −16.4% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Zhen Yu Hardware Co., Ltd. (2947) carry?
The net debt of Zhen Yu Hardware Co., Ltd. is 224M TWD (fiscal year 2025, ≈ 1.0 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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