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Golden Long Teng Development Co (3188) Fair Value & Analysis

Real Estate · TW · Market cap 4.5B TWD

GL Golden Long Teng Development Co 3188 · TWO
Price23.05 TWD
Fair Value59.13 TWD
Upside+156.5%
Quality49/100
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Expensive Growth
Highly profitable · 27.5% net margin
Low debt · negative free cash flow
13.45% dividend yield
Ranks above peers (10/13)
Wide moat 82/100
Evidence: High Range 37.60 TWD – 80.66 TWD Share as image

Fair value as of: Jul 23, 2026

From 9 valuation models · updated 18 days ago

Fair value updated Jul 23, 2026, revised from 59.25 TWD to 59.13 TWD (−0.2%) since Jun 26, 2026. Share price −2.3% over the past month.

Below-average quality, screening 157% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (37.60 TWD). The market is more pessimistic than our downside scenario.
  • Solid quality (49/100) at a price below fair value, the discount is the argument here, not the business quality.
  • A fairly wide model range (37.60 TWD to 80.66 TWD) leaves room in how you read the outcome.
  • 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)

55.40 TWD 10.53 TWD Fair Value 59.13 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 10.53 TWD – 55.40 TWD · fair‑value band 37.60 TWD – 80.66 TWD · the 23.05 TWD price screens below the 59.13 TWD fair value. Dashed = 300-day average. As of Jul 23, 2026.

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Analysis

Golden Long Teng Development Co (3188) currently trades at 23.05 TWD, while our model-based Fair Value estimate is 59.13 TWD, implying the stock looks roughly 156.5% undervalued today. The Quality Score stands at 49/100 (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, Golden Long Teng Development Co generated revenue of 4.1B TWD at a net margin of 27.5%. It earns a return on equity of 40.4%. Net debt stands at 5.2B TWD. The stock trades on a trailing P/E of 6.6. Fundamentals as of Jul 23, 2026

Our scenario range runs from 37.60 TWD (bear case) to 80.66 TWD (bull case); at 23.05 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 36% below its 52-week high and 4% 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 157%, 3188 screens cheaper 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
Residual Income 25.34 TWD 32.72 TWD 133.21 TWD 76
Gordon GGM 15.64 TWD 31.16 TWD 47.19 TWD 70
DDM Multi-Stage 15.64 TWD 26.93 TWD 32.89 TWD 61
All 9 models by family
Dividend Discount
Gordon GGM 15.64 TWD 31.16 TWD 47.19 TWD 70
DDM Multi-Stage 15.64 TWD 26.93 TWD 32.89 TWD 61
Multiples
P/S Multiple 51.11 TWD 68.15 TWD 85.18 TWD 58
P/B Multiple 26.32 TWD 35.09 TWD 43.86 TWD 55
EV/EBIT 85.56 TWD 114.08 TWD 142.61 TWD 53
EV/EBITDA 66.33 TWD 88.44 TWD 110.56 TWD 54
EV/Revenue 47.18 TWD 67.41 TWD 87.63 TWD 43
Asset-Based
NCAV (Graham) 8.77 TWD 11.75 TWD 17.54 TWD 50
Economic Profit
Residual Income 25.34 TWD 32.72 TWD 133.21 TWD 76

Widest divergence: Multiples (68.15 TWD) versus Asset-Based (11.75 TWD). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 4.1B TWD
Revenue growth (YoY) +888%
Net margin 27.5%
Return on equity 40.4%
Free cash flow −619M TWD FY2025
P/E ratio 6.6
More key figures
Operating margin 33.4%
EPS (TTM) 3.73 TWD
Dividend yield 12.8%
EPS growth (YoY) +820%
Net debt 5.2B TWD FY2025

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

Quality Score breakdown

Overall quality 49/100

Of which business quality 43 · Market factors (momentum, volatility) 38

Profitability 52
Margins and returns on capital today
Quality Growth 76
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 44
Balance sheet, leverage, solvency risk
Investment 50
Disciplined investing over empire-building
Low Volatility 84
Calm price path (market factor)
Momentum 23
Price trend over the last 3–12 months (market factor)
52W Momentum 11
Distance to the 52-week high (market factor)
Net Issuance 56
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

Golden Long Teng Development Co., Ltd. engages in the real estate leasing in Taiwan. The company operates through Construction and Development and Construction segments. It also engages in the development, leasing, and sale of residential and buildings; and housing construction business. The company was formerly known as AME, Inc.

Full company description

Golden Long Teng Development Co., Ltd. engages in the real estate leasing in Taiwan. The company operates through Construction and Development and Construction segments. It also engages in the development, leasing, and sale of residential and buildings; and housing construction business. The company was formerly known as AME, Inc. and changed its name to Golden Long Teng Development Co., Ltd. in July 2016. Golden Long Teng Development Co., Ltd. was incorporated in 2000 and is based in Kaohsiung, Taiwan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Golden Long Teng Development Co reported revenue of 2.7B TWD in FY2025 versus 1.5B TWD in FY2021, a compound +15.9%/yr. Reported net income was 755M TWD in FY2025, compounding +37.0%/yr from FY2021.

Growth Quality 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
2.7B TWD
Latest YoY
+79.1%
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.
+36.4%
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.
+27.1%
Avg. growth/yr (9Y) 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.
+44.5%
Revenue +15.9%/yr
FY21 1.5B TWD
FY22 1.1B TWD
FY23 2.0B TWD
FY24 1.5B TWD
FY25 2.7B TWD
Net income +37.0%/yr
FY21 214M TWD
FY22 87.3M TWD
FY23 383M TWD
FY24 412M TWD
FY25 755M TWD

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Cite: Fair Value Calculator (2026). "Golden Long Teng Development Co Fair Value". https://www.fairvalue-calculator.com/stock/3188

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 +157% · Top 25%
Return on equity (TTM) 40% · Top 25%
Return on assets 9% · Top 25%
Net margin (TTM) 27% · Top 25%
Operating margin (TTM) 33% · Top 25%
Revenue growth 888% · Top 25%
Dividend yield (TTM) 13.5% · Top 25%
Debt / equity 0.35× · Higher than median

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

P/E (TTM) 6.3× · Cheaper than 75% of peers
P/B 1.35× · Pricier than 75% of peers
P/S (TTM) 1.08× · Pricier than median
EV/EBITDA 3.1× · Cheaper than 75% of peers

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 100 · sector 48
FUTURE 100 · sector 0
PAST 100 · sector 10
HEALTH 82 · sector 84
DIVIDEND 100 · 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 Golden Long Teng Development Co (3188) overvalued or undervalued?
As of Jul 23, 2026, our model estimates a fair value of 59.13 TWD versus a price of 23.05 TWD, about +157% (undervalued).
What is the fair value of 3188?
Our model-based fair value for Golden Long Teng Development Co is 59.13 TWD (as of Jul 23, 2026), built from audited fundamentals. The current price is 23.05 TWD.
What is the quality score of 3188?
Golden Long Teng Development Co has a Quality Score of 49/100. 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 Golden Long Teng Development Co (3188)?
Golden Long Teng Development Co reported trailing-twelve-month revenue of about 4.1B TWD (latest available figure, as of Jul 23, 2026).
What is the net profit margin of 3188?
The net profit margin of Golden Long Teng Development Co is about 27.5%, meaning it keeps roughly 27.5% of revenue as net income. Based on the latest reported figures.
Does Golden Long Teng Development Co pay a dividend?
Golden Long Teng Development Co currently shows a dividend yield of about 12.83% 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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