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Shin Zu Shing Co (3376) Fair Value & Analysis

Industrials · TW · Market cap 36.5B TWD

SZ Shin Zu Shing Co 3376 · TW
Price184.50 TWD
Fair Value53.23 TWD
Upside-71.2%
Quality44/100
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Weak Growth
Thin margins · 1.3% net margin
Low debt · negative free cash flow
Trails peers (2/14)
Narrow moat 25/100
Evidence: High Range 39.93 TWD – 66.54 TWD Share as image

Fair value as of: Jul 21, 2026

From 15 valuation models · updated 20 days ago

Fair value updated Jul 21, 2026, revised from 27.64 TWD to 53.23 TWD (+92.6%) since Jul 9, 2026. Share price −6.3% over the past month.

Below-average quality, and screening another 71% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (66.54 TWD). The favourable scenario is already priced in.
  • Weak quality (44/100) and above fair value at the same time, the margin of safety is missing on both counts.
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Price vs Fair Value (5 years)

296.50 TWD 71.02 TWD Fair Value 53.23 TWD Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 21, 2026.

How to read this chart

60‑month range 71.02 TWD – 296.50 TWD · fair‑value band 39.93 TWD – 66.54 TWD · the 184.50 TWD price screens above the 53.23 TWD fair value. Dashed = 300-day average. As of Jul 21, 2026.

Full chart & analysis →

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Analysis

Shin Zu Shing Co (3376) currently trades at 184.50 TWD, while our model-based Fair Value estimate is 53.23 TWD, implying the stock looks roughly 71.2% overvalued today. The Quality Score stands at 44/100 (below-average quality), in the Industrials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, Shin Zu Shing Co generated revenue of 10.3B TWD at a net margin of 1.3%. Revenue declined 16.1% year over year. It earns a return on equity of 0.7%. The balance sheet holds a net cash position of 398M TWD. Fundamentals as of Jul 21, 2026

Our scenario range runs from 39.93 TWD (bear case) to 66.54 TWD (bull case); at 184.50 TWD, the current price sits above 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 32% below its 52-week high and 8% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -72% fair-value upside, at -71%, 3376 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 BearBaseBull Evidence
Highest evidence
Residual Income 62.01 TWD 59.63 TWD 47.00 TWD 76
ROIC Compounder 7.95 TWD 8.63 TWD 9.22 TWD 72
Gordon GGM 55.09 TWD 103.77 TWD 171.47 TWD 70
All 15 models by family
Earnings-Based
Graham-Dodd 11.05 TWD 27.69 TWD 35.94 TWD 54
PEG = 1.0 5.08 TWD 7.25 TWD 9.43 TWD 46
EPV 7.95 TWD 8.63 TWD 9.22 TWD 59
Dividend Discount
Gordon GGM 55.09 TWD 103.77 TWD 171.47 TWD 70
DDM Multi-Stage 55.09 TWD 83.46 TWD 114.24 TWD 61
Multiples
P/E Multiple 25.61 TWD 34.14 TWD 42.68 TWD 63
P/S Multiple 20.73 TWD 27.64 TWD 34.55 TWD 58
P/B Multiple 20.73 TWD 27.64 TWD 34.55 TWD 55
EV/EBIT 14.79 TWD 18.44 TWD 22.08 TWD 53
EV/EBITDA 37.72 TWD 49.00 TWD 60.29 TWD 54
EV/Revenue 11.67 TWD 15.01 TWD 18.35 TWD 43
Asset-Based
NCAV (Graham) 43.90 TWD 58.83 TWD 87.81 TWD 50
Economic Profit
Residual Income 62.01 TWD 59.63 TWD 47.00 TWD 76
ROIC Compounder 7.95 TWD 8.63 TWD 9.22 TWD 72
Growth Earnings
Growth-Adj P/E 19.74 TWD 28.20 TWD 36.67 TWD 68

Widest divergence: Dividend Discount (83.46 TWD) versus Earnings-Based (8.63 TWD). Highest evidence: Residual Income (76).

Key figures & financial health

Revenue (TTM) 10.3B TWD
Revenue growth (YoY) -16.1%
Net margin 1.3%
Return on equity 0.7%
Free cash flow −137M TWD FY2025
P/E ratio 123.0
More key figures
Operating margin -0.4%
EPS (TTM) 1.63 TWD
EPS growth (YoY) -86.7%
Net cash 398M TWD FY2025

Figures from reported company fundamentals · as of Jul 21, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 44/100

Of which business quality 46 · Market factors (momentum, volatility) 31

Profitability 22
Margins and returns on capital today
Quality Growth 2
Are margins and returns improving?
Cashflow 40
Earnings quality: real cash, not paper profit
Fin. Strength 74
Balance sheet, leverage, solvency risk
Investment 74
Disciplined investing over empire-building
Low Volatility 57
Calm price path (market factor)
Momentum 24
Price trend over the last 3–12 months (market factor)
52W Momentum 12
Distance to the 52-week high (market factor)
Net Issuance 68
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

Shin Zu Shing Co., Ltd. engages in the research, design, development, production, assembly, testing, manufacturing, and trading of various precision springs, stamping parts, hinge components, CNC lathes, and metal injection molding in Taiwan, Singapore, and China.

Full company description

Shin Zu Shing Co., Ltd. engages in the research, design, development, production, assembly, testing, manufacturing, and trading of various precision springs, stamping parts, hinge components, CNC lathes, and metal injection molding in Taiwan, Singapore, and China. It also produces and sells precision bearings, key brain components, computer peripherals, LCD monitor base bracket, switch shaft and accessories, precision hardware, electronics, molds, and plastic. In addition, the company offers its products for use in notebook computers, LCD screens, digital cameras, electric bicycle parts, and other electronic product parts. The company was formerly known as Zu Shing Spring and Mechanical Co., Ltd. and changed its name to Shin Zu Shing Co., Ltd. in November 1997. Shin Zu Shing Co., Ltd. was founded in 1957 and is headquartered in New Taipei City, Taiwan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Shin Zu Shing Co reported revenue of 10.7B TWD in FY2025 versus 12.1B TWD in FY2021, a compound −3.1%/yr. Reported net income was 318M TWD in FY2025, compounding −27.8%/yr from FY2021.

Growth Quality 14/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
10.7B TWD
Latest YoY
−19.5%
Avg. growth/yr (3Y)
−3.2%
Avg. growth/yr (5Y)
−6.8%
Avg. growth/yr (22Y)
+10.0%
Revenue −3.1%/yr
FY21 12.1B TWD
FY22 11.8B TWD
FY23 10.1B TWD
FY24 13.3B TWD
FY25 10.7B TWD
Net income −27.8%/yr
FY21 1.2B TWD
FY22 1.7B TWD
FY23 807M TWD
FY24 1.4B TWD
FY25 318M TWD

3376 screens 71% overvalued. Compare with Carpenter Technology Corporation →

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Cite: Fair Value Calculator (2026). "Shin Zu Shing Co Fair Value". https://www.fairvalue-calculator.com/stock/3376

Peer Group

Metal Fabrication · 243 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 44 · Below median
Fair Value upside −71% · Bottom 25%
Return on equity (TTM) 1% · Below median
Return on assets -0% · Bottom 25%
Net margin (TTM) 1% · Below median
Operating margin (TTM) -0% · Bottom 25%
Revenue growth -16% · Bottom 25%
Dividend yield (TTM) 0.0% · Bottom 25%
Debt / equity 0.04× · Lower than median

Valuation Multiples vs Metal Fabrication median · lower = cheaper

P/E (TTM) 291.4× · Pricier than 75% of peers
P/B 2.12× · Pricier than median
P/S (TTM) 3.56× · Pricier than 75% of peers
EV/EBITDA 70.8× · Pricier than 75% of peers
PEG 0.80× · 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 0 · sector 0
FUTURE 0 · sector 35
PAST 3 · sector 21
HEALTH 98 · sector 95
DIVIDEND 0 · sector 25

VALUE 0: the price sits above our fair-value range.

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 Metal Fabrication stocks, each showing price versus our Fair Value estimate (as of Jul 21, 2026).

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Frequently asked questions

Is Shin Zu Shing Co (3376) overvalued or undervalued?
As of Jul 21, 2026, our model estimates a fair value of 53.23 TWD versus a price of 184.50 TWD, about −71% (overvalued).
What is the fair value of 3376?
Our model-based fair value for Shin Zu Shing Co is 53.23 TWD (as of Jul 21, 2026), built from audited fundamentals. The current price is 184.50 TWD.
What is the quality score of 3376?
Shin Zu Shing Co has a Quality Score of 44/100. 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 Shin Zu Shing Co (3376)?
Shin Zu Shing Co reported trailing-twelve-month revenue of about 10.3B TWD (latest available figure, as of Jul 21, 2026).
What is the net profit margin of 3376?
The net profit margin of Shin Zu Shing Co is about 1.3%, meaning it keeps roughly 1.3% of revenue as net income. Based on the latest reported figures.

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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