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Fu Hua Innovation Co (3056) Fair Value & Analysis

Real Estate · TW · Market cap 7.1B TWD

FH Fu Hua Innovation Co 3056 · TW
Price14.25 TWD
Fair Value18.42 TWD
Upside+29.3%
Quality48/100
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Weak Growth
Loss-making · -0.7% net margin
Low debt · generates free cash flow
4.18% dividend yield
Mixed vs. peers (5/12)
Narrow moat 17/100
Evidence: High Range 14.79 TWD – 23.03 TWD Share as image

Fair value as of: Jul 23, 2026

From 14 valuation models · updated 18 days ago

Fair value updated Jul 23, 2026, revised from 18.23 TWD to 18.42 TWD (+1.0%) since Jun 26, 2026. Share price −4.0% over the past month.

Below-average quality, screening 29% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (14.79 TWD). The market is more pessimistic than our downside scenario.
  • Solid quality (48/100) at a price below fair value, the discount is the argument here, not the business quality.
  • As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
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Price vs Fair Value (5 years)

40.80 TWD 13.20 TWD Fair Value 18.42 TWD Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 23, 2026.

How to read this chart

60‑month range 13.20 TWD – 40.80 TWD · fair‑value band 14.79 TWD – 23.03 TWD · the 14.25 TWD price screens below the 18.42 TWD fair value. Dashed = 300-day average. As of Jul 23, 2026.

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Analysis

Fu Hua Innovation Co (3056) currently trades at 14.25 TWD, while our model-based Fair Value estimate is 18.42 TWD, implying the stock looks roughly 29.3% undervalued today. The Quality Score stands at 48/100 (below-average quality), in the Real Estate sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Fu Hua Innovation Co generated revenue of 1.0B TWD at a net margin of -0.7%. It earns a return on equity of -0.1%. Net debt stands at 923M TWD. The stock trades on a trailing P/E of 14.1. Fundamentals as of Jul 23, 2026

Our scenario range runs from 14.79 TWD (bear case) to 23.03 TWD (bull case); at 14.25 TWD, the current price sits below 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 about 61% below its 52-week high and 9% above its 52-week low, currently below its 200-day average. For context, the median of 10 Real Estate peers we cover trades at 32% fair-value upside, at 29%, 3056 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.

Model 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
Highest evidence
Growth DCF 14.42 TWD 22.54 TWD 35.62 TWD 80
Residual Income 14.24 TWD 14.57 TWD 14.40 TWD 76
Rev-Margin DCF 18.41 TWD 29.82 TWD 53.59 TWD 74
All 14 models by family
DCF Models
FCF DCF 15.00 TWD 20.17 TWD 36.27 TWD 38
5Y Revenue Exit 17.13 TWD 26.77 TWD 47.03 TWD 39
5Y EBITDA Exit 21.63 TWD 35.87 TWD 63.86 TWD 41
10Y Revenue Exit 16.17 TWD 31.42 TWD 41.87 TWD 36
10Y EBITDA Exit 19.88 TWD 40.89 TWD 78.59 TWD 37
Multiples
P/S Multiple 13.82 TWD 18.42 TWD 23.03 TWD 58
P/B Multiple 13.82 TWD 18.42 TWD 23.03 TWD 55
EV/EBIT 25.97 TWD 32.82 TWD 39.66 TWD 53
EV/EBITDA 23.67 TWD 29.75 TWD 35.83 TWD 54
EV/Revenue 16.76 TWD 21.62 TWD 26.47 TWD 43
Asset-Based
NCAV (Graham) 9.21 TWD 12.34 TWD 18.41 TWD 50
Growth DCF
Growth DCF 14.42 TWD 22.54 TWD 35.62 TWD 80
Rev-Margin DCF 18.41 TWD 29.82 TWD 53.59 TWD 74
Economic Profit
Residual Income 14.24 TWD 14.57 TWD 14.40 TWD 76

Widest divergence: DCF Models (31.42 TWD) versus Asset-Based (12.34 TWD). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 1.0B TWD
Revenue growth (YoY) -91.5%
Net margin -0.7%
Return on equity -0.1%
Free cash flow 286M TWD FY2025
P/E ratio 14.1
More key figures
Operating margin -7.3%
EPS (TTM) 1.07 TWD
Dividend yield 4.2%
EPS growth (YoY) -99.1%
Net debt 923M TWD FY2025

Figures from reported company fundamentals · as of Jul 23, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 48/100

Of which business quality 53 · Market factors (momentum, volatility) 31

Profitability 29
Margins and returns on capital today
Quality Growth 6
Are margins and returns improving?
Cashflow 41
Earnings quality: real cash, not paper profit
Fin. Strength 88
Balance sheet, leverage, solvency risk
Investment 91
Disciplined investing over empire-building
Low Volatility 66
Calm price path (market factor)
Momentum 24
Price trend over the last 3–12 months (market factor)
52W Momentum 3
Distance to the 52-week high (market factor)
Net Issuance 69
Buybacks instead of dilution

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

Fu Hua Innovation Co., Ltd. engages in the development and construction of real estate properties in Taiwan. It also provides energy technology services; leases residential and commercial buildings; and operates in the restaurant industry. The company was formerly known as ZongTai Real Estate Development Co., Ltd.

Full company description

Fu Hua Innovation Co., Ltd. engages in the development and construction of real estate properties in Taiwan. It also provides energy technology services; leases residential and commercial buildings; and operates in the restaurant industry. The company was formerly known as ZongTai Real Estate Development Co., Ltd. and changed its name to Fu Hua Innovation Co., Ltd. in July 2023. The company was founded in 1986 and is based in Zhubei, Taiwan.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Fu Hua Innovation Co reported revenue of 4.1B TWD in FY2025 versus 3.6B TWD in FY2021, a compound +2.7%/yr. Reported net income was 515M TWD in FY2025, compounding −5.1%/yr from FY2021.

Growth Quality 33/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
4.1B TWD
Latest YoY
−68.2%
Avg. growth/yr (3Y) 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.
−22.5%
Avg. growth/yr (5Y) 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.
−2.8%
Avg. growth/yr (23Y) 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.
+9.7%
Revenue +2.7%/yr
FY21 3.6B TWD
FY22 8.7B TWD
FY23 1.5B TWD
FY24 12.8B TWD
FY25 4.1B TWD
Net income −5.1%/yr
FY21 635M TWD
FY22 2.2B TWD
FY23 307M TWD
FY24 2.2B TWD
FY25 515M TWD
Character of growth · EPS growth decomposed (2014-2025) +2.0 % p.a.
Revenue per share +4.5 pp

of which total revenue +6.5 pp · buybacks/dilution −2.0 pp

EBIT margin −0.7 pp
Tax rate −2.0 pp
Residual (interest, one-offs) +0.3 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).

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Cite: Fair Value Calculator (2026). "Fu Hua Innovation Co Fair Value". https://www.fairvalue-calculator.com/stock/3056

Peer Group

Real Estate - Development · 588 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.

Quality Score 50 · Above median
Fair Value upside +29% · Above median
Return on assets -0% · Below median
Net margin (TTM) -1% · Below median
Operating margin (TTM) -7% · Bottom 25%
Revenue growth -92% · Bottom 25%
Dividend yield (TTM) 4.2% · Above median
Debt / equity 0.18× · Lower than median

Valuation Multiples vs Real Estate - Development median · lower = cheaper

P/E (TTM) 13.9× · Pricier than median
P/S (TTM) 0.22× · Cheaper than 75% of peers
P/FCF 0.8× · Pricier than median

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 72 · sector 48
FUTURE 0 · sector 0
PAST 0 · sector 10
HEALTH 91 · sector 84
DIVIDEND 84 · sector 38

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Real Estate - Development stocks, each showing price versus our Fair Value estimate (as of Jul 23, 2026).

Stock Price Fair Value vs Fair Value
DLF Limited DLF ₹657.75 ₹159.49 -76%
Lodha Developers Limited LODHA ₹1,188 ₹583.43 -51%
PT Pantai Indah Kapuk Dua Tbk, PANI 6,125 IDR 1,330 IDR -78%
Oberoi Realty Limited OBEROIRLTY ₹1,925 ₹1,183 -39%
Godrej Properties Limited GODREJPROP ₹2,102 ₹1,044 -50%
PT Jaya Real Property, Tbk., JRPT 1,080 IDR 1,674 IDR +55%
PT Bumi Serpong Damai Tbk, BSDE 555.00 IDR 1,388 IDR +150%
PT Sentul City Tbk, BKSL 64.00 IDR 84.16 IDR +32%
PT Ciputra Development Tbk, CTRA 555.00 IDR 1,388 IDR +150%
PT Duta Pertiwi Tbk DUTI 4,100 IDR 6,239 IDR +52%

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Frequently asked questions

Is Fu Hua Innovation Co (3056) overvalued or undervalued?
As of Jul 23, 2026, our model estimates a fair value of 18.42 TWD versus a price of 14.25 TWD, about +29% (undervalued).
What is the fair value of 3056?
Our model-based fair value for Fu Hua Innovation Co is 18.42 TWD (as of Jul 23, 2026), built from audited fundamentals. The current price is 14.25 TWD.
What is the quality score of 3056?
Fu Hua Innovation Co has a Quality Score of 48/100. 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 revenue of Fu Hua Innovation Co (3056)?
Fu Hua Innovation Co reported trailing-twelve-month revenue of about 1.0B TWD (latest available figure, as of Jul 23, 2026).
What is the net profit margin of 3056?
The net profit margin of Fu Hua Innovation Co is about -0.7%, meaning it is currently running at a net loss. Based on the latest reported figures.
Does Fu Hua Innovation Co pay a dividend?
Fu Hua Innovation Co currently shows a dividend yield of about 4.18% relative to its recent price (as of Jul 23, 2026).

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.

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