EN DE

Huang Long Development Co (3512) Fair Value & Analysis

Real Estate · TW · Market cap 2.2B TWD

HL Huang Long Development Co 3512 · TWO
Price19.75 TWD
Fair Value33.55 TWD
Upside+69.9%
Quality51/100
Watch Huang Long Development Co for free, get notified when fair value or trend changes. Watch for free
Weak Growth
Highly profitable · 21.0% net margin
Low debt · generates free cash flow
Ranks above peers (9/14)
Moderate moat 51/100
Evidence: High Range 17.87 TWD – 42.77 TWD Share as image

Fair value as of: Jul 23, 2026

From 16 valuation models · updated 18 days ago

Share price +3.7% over the past month.

A solid business, screening 70% undervalued on our models.

What matters now

  • Solid quality (51/100) at a price below fair value, the discount is the argument here, not the business quality.
  • A fairly wide model range (17.87 TWD to 42.77 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.
Share this valuation: 𝕏 WhatsApp

Price vs Fair Value (5 years)

47.55 TWD 19.05 TWD Fair Value 33.55 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 19.05 TWD – 47.55 TWD · fair‑value band 17.87 TWD – 42.77 TWD · the 19.75 TWD price screens below the 33.55 TWD fair value. Dashed = 300-day average. As of Jul 23, 2026.

Full chart & analysis →

Which stocks are undervalued right now? Check free Discover now →

Analysis

Huang Long Development Co (3512) currently trades at 19.75 TWD, while our model-based Fair Value estimate is 33.55 TWD, implying the stock looks roughly 69.9% undervalued today. The Quality Score stands at 51/100 (solid 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, Huang Long Development Co generated revenue of 939M TWD at a net margin of 21.0%. Revenue declined 69.9% year over year. It earns a return on equity of 7.9%. Net debt stands at 1.4B TWD. Fundamentals as of Jul 23, 2026

Our scenario range runs from 17.87 TWD (bear case) to 42.77 TWD (bull case); at 19.75 TWD, the current price sits within 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 25% below its 52-week high, currently below its 200-day average. For context, the median of 10 Real Estate peers we cover trades at -2% fair-value upside, at 70%, 3512 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
Growth DCF 8.96 TWD 12.84 TWD 18.92 TWD 80
Residual Income 20.44 TWD 22.60 TWD 32.15 TWD 76
Rev-Margin DCF 22.21 TWD 39.14 TWD 60.29 TWD 74
All 16 models by family
DCF Models
FCF DCF 8.98 TWD 13.16 TWD 19.92 TWD 38
5Y Revenue Exit 22.21 TWD 39.87 TWD 64.05 TWD 39
5Y EBITDA Exit 27.84 TWD 51.19 TWD 80.43 TWD 41
10Y Revenue Exit 16.56 TWD 31.48 TWD 54.55 TWD 36
10Y EBITDA Exit 21.02 TWD 39.47 TWD 67.63 TWD 37
Dividend Discount
Gordon GGM 10.54 TWD 21.00 TWD 31.80 TWD 70
DDM Multi-Stage 10.54 TWD 18.15 TWD 22.17 TWD 61
Multiples
P/S Multiple 30.19 TWD 40.25 TWD 50.32 TWD 58
P/B Multiple 30.19 TWD 40.25 TWD 50.32 TWD 55
EV/EBIT 51.41 TWD 67.55 TWD 83.69 TWD 53
EV/EBITDA 40.99 TWD 53.66 TWD 66.32 TWD 54
EV/Revenue 29.70 TWD 41.14 TWD 52.59 TWD 43
Asset-Based
NCAV (Graham) 11.74 TWD 15.73 TWD 23.48 TWD 50
Growth DCF
Growth DCF 8.96 TWD 12.84 TWD 18.92 TWD 80
Rev-Margin DCF 22.21 TWD 39.14 TWD 60.29 TWD 74
Economic Profit
Residual Income 20.44 TWD 22.60 TWD 32.15 TWD 76

Widest divergence: Multiples (41.14 TWD) versus Growth DCF (12.84 TWD). Highest evidence: Growth DCF (80).

Notify me when 3512 reaches fair value

Free. You confirm by email (double opt-in) and can unsubscribe anytime in one click.

Key figures & financial health

Revenue (TTM) 939M TWD
Revenue growth (YoY) -69.9%
Net margin 21.0%
Return on equity 7.9%
Free cash flow 57.3M TWD FY2025
P/E ratio 8.1
More key figures
Operating margin 26.7%
EPS (TTM) 2.43 TWD
EPS growth (YoY) -63.1%
Net debt 1.4B TWD FY2025

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

Quality Score breakdown

Overall quality 51/100

Of which business quality 51 · Market factors (momentum, volatility) 42

Profitability 38
Margins and returns on capital today
Quality Growth 76
Are margins and returns improving?
Cashflow 39
Earnings quality: real cash, not paper profit
Fin. Strength 70
Balance sheet, leverage, solvency risk
Investment 77
Disciplined investing over empire-building
Low Volatility 93
Calm price path (market factor)
Momentum 27
Price trend over the last 3–12 months (market factor)
52W Momentum 11
Distance to the 52-week high (market factor)
Net Issuance 13
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

Huang Long Development Co.,Ltd. produces and sells of electronic components and heatsinks in Taiwan, Mainland China, and internationally. It develops, leases, and sells office and residential buildings, and trades in real estate, as well as engages in the investment activities. The company was formerly known as Neng Tyi Precision Industries Co., Ltd.

Full company description

Huang Long Development Co.,Ltd. produces and sells of electronic components and heatsinks in Taiwan, Mainland China, and internationally. It develops, leases, and sells office and residential buildings, and trades in real estate, as well as engages in the investment activities. The company was formerly known as Neng Tyi Precision Industries Co., Ltd. and changed its name to Huang Long Development Co.,Ltd. in June 2018. Huang Long Development Co.,Ltd. was founded in 1981 and is based in Taipei City, Taiwan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Huang Long Development Co reported revenue of 1.4B TWD in FY2025 versus 2.2B TWD in FY2021, a compound −10.3%/yr. Reported net income was 268M TWD in FY2025, compounding −4.2%/yr from FY2021.

Growth Quality 37/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
1.4B TWD
Latest YoY
+62.9%
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.
−13.8%
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.
−9.9%
Avg. growth/yr (8Y) 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.
+0.3%
Revenue −10.3%/yr
FY21 2.2B TWD
FY22 2.2B TWD
FY23 3.0B TWD
FY24 880M TWD
FY25 1.4B TWD
Net income −4.2%/yr
FY21 318M TWD
FY22 326M TWD
FY23 458M TWD
FY24 54.8M TWD
FY25 268M TWD

Watch 3512: get an alert when its fair value changes →

Share or link this analysis
For bloggers & editors: embed code + live data

For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.

Cite: Fair Value Calculator (2026). "Huang Long Development Co Fair Value". https://www.fairvalue-calculator.com/stock/3512

Peer Group

Real Estate Services · 520 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 52 · Below median
Fair Value upside +70% · Top 25%
Return on equity (TTM) 8% · Above median
Return on assets 3% · Above median
Net margin (TTM) 21% · Above median
Operating margin (TTM) 27% · Above median
Revenue growth -70% · Bottom 25%
Dividend yield (TTM) 0.0% · Bottom 25%
Debt / equity 0.23× · Lower than median

Valuation Multiples vs Real Estate Services median · lower = cheaper

P/E (TTM) 8.1× · Cheaper than median
P/B 0.83× · Pricier than median
P/S (TTM) 2.36× · Pricier than median
P/FCF 1.2× · Cheaper than median
EV/EBITDA 7.3× · Cheaper 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 100 · sector 37
FUTURE 0 · sector 10
PAST 31 · sector 16
HEALTH 89 · sector 85
DIVIDEND 0 · sector 49

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 Services stocks, each showing price versus our Fair Value estimate (as of Jul 23, 2026).

Stock Price Fair Value vs Fair Value
Vingroup Joint Stock Company VIC 223,000 VND 25,731 VND -88%
KE Holdings 2423 HK$44.76 HK$18.03 -60%
Swire Properties Limited 1972 HK$23.90 HK$18.75 -22%
Plaza S.A MALLPLAZA 3,725 CLP 5,571 CLP +50%
SAGAA SAGAA kr 170.00 kr 75.55 -56%
Cencosud Shopping S.A CENCOMALLS 2,324 CLP 2,976 CLP +28%
PT Sarana Menara Nusantara Tbk. owns and TOWR 372.00 IDR 1,208 IDR +225%
PT Metropolitan Kentjana Tbk MKPI 20,975 IDR 19,160 IDR -9%
PT Bangun Kosambi Sukses Tbk, CBDK 3,530 IDR 3,464 IDR -2%
IRSA Inversiones y Representaciones Sociedad Anónima, IRSA 2,495 ARS 3,998 ARS +60%

Compare Huang Long Development Co with another stock

Price, fair value, quality and upside side by side.

Free, no sign-up

Explore undervalued stocks

More undervalued Real Estate stocks →

All undervalued stocks TechnologyFinancial ServicesHealthcareConsumer CyclicalConsumer DefensiveCommunication ServicesIndustrialsEnergyBasic MaterialsReal EstateUtilities Deeply Undervalued StocksUndervalued Blue-Chip StocksUndervalued Small-Cap StocksUndervalued Dividend Stocks

Frequently asked questions

Is Huang Long Development Co (3512) overvalued or undervalued?
As of Jul 23, 2026, our model estimates a fair value of 33.55 TWD versus a price of 19.75 TWD, about +70% (undervalued).
What is the fair value of 3512?
Our model-based fair value for Huang Long Development Co is 33.55 TWD (as of Jul 23, 2026), built from audited fundamentals. The current price is 19.75 TWD.
What is the quality score of 3512?
Huang Long Development Co 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 revenue of Huang Long Development Co (3512)?
Huang Long Development Co reported trailing-twelve-month revenue of about 939M TWD (latest available figure, as of Jul 23, 2026).
What is the net profit margin of 3512?
The net profit margin of Huang Long Development Co is about 21.0%, meaning it keeps roughly 21.0% 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.

14 days Pro free · no card

Track Huang Long Development Co and try Pro for 14 days

One email gets you 14 days of full Pro (review alerts, the 35,000+ stock screener, the diversification check) plus the monthly Top-25 report of the most undervalued quality stocks. No card, cancel anytime.

Zero risk: nothing is ever charged. After 14 days you decide whether to stay.