H.H.Galaxy Co., Ltd. (2949) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of H.H.Galaxy Co., Ltd. TWD 67.76, price TWD 64.00, upside +5.9%, quality 51 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
45‑month range 50.60 TWD – 120.87 TWD · fair‑value band 47.45 TWD – 108.45 TWD · the 64.00 TWD price screens below the 67.76 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
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H.H.Galaxy Co., Ltd. provides e-commerce operation solutions to brand owners in Taiwan and Southeast Asia. It operates in two segments, E-Commerce Department and Digital Marketing Department.
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H.H.Galaxy Co., Ltd. provides e-commerce operation solutions to brand owners in Taiwan and Southeast Asia. It operates in two segments, E-Commerce Department and Digital Marketing Department. The company offers e-commerce operations, performance ads, AI-powered content creation, data platform, data insights consultation, order and inventory management, logistics management, personal data protection, customer service, fulfillment management, direct to consumer, and agency model solutions. It also provides PowerAI, a tool that streamlines advertising across various channels; PowerOrder, a smart order management system that manages order sorting, directly coordinates with logistics, and updates inventory; and PowerCDP, a platform for creating ideal shopping experience for customers. In addition, the company offers PowerSecurity, a rapid-screening service to evaluate consumer data protection risks; and PowerShop, a tool to build website. Further, it provides digital advertising and marketing services; brand representation, product wholesale, and retail sale solutions; online crowdfunding product sale solutions; and non-store retail agency and other advertising services. H.H.Galaxy Co., Ltd. was incorporated in 2013 and is based in Taipei, Taiwan.
Stock analysis
H.H.Galaxy Co., Ltd. (2949) currently trades at 64.00 TWD, while our model-based Fair Value estimate is 67.76 TWD, implying the stock looks roughly 5.6% fairly valued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 102.47 TWD per share, and 16 of the 26 models we run sit above the 64.00 TWD price.
Bear case: the Dividend Discount group reads lowest at 9.29 TWD, and 10 of the 26 models stay below the price. Evidence for this calculation is high.
Scenario range: 47.45 TWD (bear) to 108.45 TWD (bull), the price of 64.00 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 51/100 (solid quality), in the Consumer Cyclical sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
H.H.Galaxy Co., Ltd. reported revenue of 5.7B TWD in FY2025 versus 2.6B TWD in FY2021, a compound +21.5%/yr. Reported net income was 109M TWD in FY2025, compounding +10.3%/yr from FY2021.
Key figures
Market cap 1.9B TWD (≈ $60.6M) · P/E ratio 17.8 · P/S ratio 0.34 · EPS (TTM) 3.59 TWD · Dividend yield 1.3% · Net margin 1.9% · Return on equity 9.4% · Return on assets (EBIT) 8.1%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (medium confidence).
What moves the price
The share trades about 24% below its 52-week high and 26% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at 8% fair-value upside, at 6%, 2949 screens richer than that median.
Fair Value models
Bear 47.45 TWDFair Value 67.76 TWDBull 108.45 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 (2.64 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.85/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+21.1%
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.
+12.2%
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.
+22.1%
Start year 2020 (pandemic)
’20
’21
’22
’23
’24
’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.
+1.9%
Earnings growth per share plus dividend.
Earnings per share, growth per year+0.6%
Dividend (yield on the price)1.3%
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.3% → 2%
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).
+18.4%
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 +16.5% 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.Internet Retail · 108 stocks
Beats the industry median on 9/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score51 · Below median
Fair Value upside+4% · Below median
Profitability
Return on equity (TTM)9% · Above median
Return on assets3% · Above median
Net margin (TTM)2% · Above median
Operating margin (TTM)2% · Above median
Growth and dividend
Revenue growth18% · Above median
Dividend yield (TTM)1.3% · Below median
Balance sheet
Debt / equity0.18× · Above median
Valuation Multiplesvs Internet Retail median · lower = cheaper
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Is H.H.Galaxy Co., Ltd. (2949) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 67.76 TWD versus a price of 64.00 TWD, about +6% upside (fairly valued).
What is the fair value of 2949?
Our model-based fair value for H.H.Galaxy Co., Ltd. is 67.76 TWD (as of Sep 24, 2026), built from audited fundamentals. The current price: 64.00 TWD.
What is the quality score of 2949?
H.H.Galaxy Co., Ltd. has a Quality Score of 51/100. 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 H.H.Galaxy Co., Ltd. (2949)?
Our model-based price target is the fair value of 67.76 TWD (as of Sep 24, 2026) from 26 valuation models. Cautious scenario 47.45 TWD, optimistic scenario 108.45 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the H.H.Galaxy Co., Ltd. stock forecast for 2026?
Our models put fair value at 67.76 TWD, about +6% upside versus a price of 64.00 TWD (fairly valued). Cautious scenario 47.45 TWD, optimistic scenario 108.45 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of H.H.Galaxy Co., Ltd. (2949)?
H.H.Galaxy Co., Ltd. reported trailing-twelve-month revenue of about 5.9B TWD (latest available figure, as of Sep 24, 2026).
Does H.H.Galaxy Co., Ltd. pay a dividend?
H.H.Galaxy Co., Ltd. currently shows a dividend yield of about 1.29% relative to its recent price (as of Sep 24, 2026).
What growth is priced into H.H.Galaxy Co., Ltd. (2949)?
For today's price to be fair in a discounted-cash-flow model, H.H.Galaxy Co., Ltd. would have to grow free cash flow by +18.4 % per year for five years (discount rate 11.8 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +22.1 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 2949 use?
Our models discount H.H.Galaxy Co., Ltd. at 11.8 %: a base by market capitalisation (micro), damped by beta 0.05, 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 H.H.Galaxy Co., Ltd. that is +18.4 % per year a year over ten years, using the same discount rate (11.8 %) and the same formula as our fair value.
How much growth has H.H.Galaxy Co., Ltd. (2949) delivered so far?
Over the past 5 years revenue at H.H.Galaxy Co., Ltd. grew +22.1 % a year. The price currently implies +18.4 % 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 H.H.Galaxy Co., Ltd. (2949) growing?
The median revenue growth in the sector is +5.4 % a year. That is the yardstick for the growth priced into H.H.Galaxy Co., Ltd. (+18.4 % 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 H.H.Galaxy Co., Ltd. (2949)?
The free-cash-flow yield on the price is 4.32 %: that much free cash flow H.H.Galaxy Co., Ltd. produces per unit of market value. When it exceeds the discount rate of our models (11.8 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of H.H.Galaxy Co., Ltd. (2949)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For H.H.Galaxy Co., Ltd. it is 67.76 TWD per share (as of Sep 24, 2026), against a price of 64.00 TWD. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is H.H.Galaxy Co., Ltd. stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 2949 trades below its calculated fair value: price 64.00 TWD, fair value 67.76 TWD, a gap of about +6% (fairly valued). 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 2949?
No. The price is what the market pays today (64.00 TWD); the fair value is what the company's own numbers justify (67.76 TWD). For H.H.Galaxy Co., Ltd. the two are 3.76 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is H.H.Galaxy Co., Ltd. worth?
The market values H.H.Galaxy Co., Ltd. at about 1.9B TWD (market capitalisation, as of Sep 24, 2026). Per share that is 64.00 TWD; our models calculate a fair value of 67.76 TWD per share.
What do the bullish and bearish scenarios say about 2949?
Our models span a range for H.H.Galaxy Co., Ltd.: cautious scenario 47.45 TWD, base 67.76 TWD, optimistic 108.45 TWD per share (as of Sep 24, 2026, price 64.00 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 2949?
H.H.Galaxy Co., Ltd. trades at a price-to-earnings ratio of 17.8 (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 67.76 TWD is built from several models across several years. Other multiples: P/B 1.8, P/S 0.3, EV/EBITDA 10.5.
How solid is the balance sheet of H.H.Galaxy Co., Ltd. (2949)?
Balance-sheet figures for H.H.Galaxy Co., Ltd. (as of Sep 24, 2026): return on equity 9.4%, debt of 0.18 per unit of equity. They feed the Quality Score of 51/100, which measures business quality independently of the share price.
How far is 2949 from its 52-week high?
H.H.Galaxy Co., Ltd. trades at 64.00 TWD, about 24% below its 52-week high of 83.80 TWD and 26% above the low of 50.60 TWD (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 67.76 TWD is for.
Which stocks are comparable to H.H.Galaxy Co., Ltd.?
From the same area (Consumer Cyclical) we also value Amazon.com, Inc, Alibaba Group, MercadoLibre, Inc, DoorDash, 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 H.H.Galaxy Co., Ltd. stock attractive at the current price?
The data as of Sep 24, 2026: price 64.00 TWD, calculated fair value 67.76 TWD (+6%), Quality Score 51/100, 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 2949 calculated?
We run H.H.Galaxy 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 67.76 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 13.2 % above its aggregate fair value. H.H.Galaxy Co., Ltd. currently trades 6 % below its own fair value, and the market average says nothing about that. 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 H.H.Galaxy Co., Ltd. (2949)?
The closing price on Sep 24, 2026 was 64.00 TWD. Our model-based fair value is 67.76 TWD, about +6% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with H.H.Galaxy Co., Ltd. right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. A fairly wide model range (47.45 TWD to 108.45 TWD) leaves room in how you read the outcome.
Key figures of H.H.Galaxy Co., Ltd.
How large is the market capitalisation of H.H.Galaxy Co., Ltd. (2949)?
The market capitalisation of H.H.Galaxy Co., Ltd. is 1.9B TWD (≈ $60.6M). 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 H.H.Galaxy Co., Ltd. (2949)?
The price-to-sales ratio of H.H.Galaxy Co., Ltd. is 0.34 (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 H.H.Galaxy Co., Ltd. (2949)?
Earnings per share at H.H.Galaxy Co., Ltd. are 3.59 TWD (price ÷ EPS = P/E 17.8). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of H.H.Galaxy Co., Ltd. (2949)?
The dividend yield of H.H.Galaxy Co., Ltd. is 1.3% (payout 22.9%). 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 H.H.Galaxy Co., Ltd. (2949)?
The net margin of H.H.Galaxy Co., Ltd. is 1.9% (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 H.H.Galaxy Co., Ltd. (2949)?
The return on equity (ROE) of H.H.Galaxy Co., Ltd. is 9.4% (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 H.H.Galaxy Co., Ltd. (2949)?
On an EBIT basis the return on assets of H.H.Galaxy Co., Ltd. is 8.1% (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 H.H.Galaxy Co., Ltd. (2949)?
The operating margin of H.H.Galaxy Co., Ltd. is 2.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at H.H.Galaxy Co., Ltd. (2949)?
Revenue at H.H.Galaxy Co., Ltd. is growing +18.0% versus a year earlier (3y avg +12.2%). 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 H.H.Galaxy Co., Ltd. (2949)?
Earnings per share at H.H.Galaxy Co., Ltd. are growing −14.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does H.H.Galaxy Co., Ltd. (2949) carry?
The net debt of H.H.Galaxy Co., Ltd. is 107M TWD (fiscal year 2025, ≈ 1.3 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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