Toplus Global Co (3522) Fair Value & Analysis
Consumer Cyclical · TW · Market cap 1.3B TWD
Fair value as of: Jul 23, 2026
From 13 valuation models · updated 18 days ago
Share price −2.9% over the past month.
Below-average quality, and screening another 75% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (4.61 TWD). The favourable scenario is already priced in.
- Weak quality (32/100) and above fair value at the same time, the margin of safety is missing on both counts.
- The model range is unusually wide (1.39 TWD to 4.61 TWD). The outcome hinges heavily on assumptions, so read the point estimate with caution.
Price vs Fair Value (5 years)
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 8.93 TWD – 30.50 TWD · fair‑value band 1.39 TWD – 4.61 TWD · the 11.90 TWD price screens above the 3.00 TWD fair value. Dashed = 300-day average. As of Jul 23, 2026.
Analysis
Toplus Global Co (3522) currently trades at 11.90 TWD, while our model-based Fair Value estimate is 3.00 TWD, implying the stock looks roughly 74.8% overvalued today. The Quality Score stands at 32/100 (below-average quality), in the Consumer Cyclical 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: medium).
Over the trailing twelve months, Toplus Global Co generated revenue of 1.2B TWD at a net margin of -16.5%. Revenue grew 16.6% year over year. It earns a return on equity of -29.1%. Net debt stands at 357M TWD. Fundamentals as of Jul 23, 2026
Our scenario range runs from 1.39 TWD (bear case) to 4.61 TWD (bull case); at 11.90 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 39% below its 52-week high and 7% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at -47% fair-value upside, at -75%, 3522 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.
All 13 models by family
Widest divergence: DCF Models (5.09 TWD) versus Dividend Discount (0.0200 TWD). Highest evidence: Growth DCF (80).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 23, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 32 · Market factors (momentum, volatility) 37
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
Toplus Global Co., Ltd. engages in the food and beverage business in Taiwan. It owns and operates seafood restaurants under the DingXian brand; and wedding halls and marine manor under the AmazingHall brand name.
Full company description
Toplus Global Co., Ltd. engages in the food and beverage business in Taiwan. It owns and operates seafood restaurants under the DingXian brand; and wedding halls and marine manor under the AmazingHall brand name. The company also offers catering service operation and management, travel and hotel management, festive integrated services and food and sundry goods wholesale. Toplus Global Co., Ltd. was founded in 2001 and is based in New Taipei City, Taiwan.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Toplus Global Co reported revenue of 1.2B TWD in FY2025 versus 613M TWD in FY2021, a compound +17.0%/yr. Reported net income was −223M TWD in FY2025.
3522 screens 75% overvalued. Compare with McDonald's Corporation →
Peer Group
Restaurants · 227 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.
Valuation Multiples vs Restaurants median · lower = cheaper
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: 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.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Restaurants stocks, each showing price versus our Fair Value estimate (as of Jul 23, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| McDonald's Corporation MCDS | C$24.01 | C$10.84 | -55% |
| Starbucks Corporation SBUX | $105.49 | $35.83 | -66% |
| Chipotle Mexican Grill, Inc CMG | $34.63 | $18.43 | -47% |
| Yum! Brands, Inc YUM | $163.54 | $59.66 | -64% |
| Restaurant Brands International Inc QSR | C$104.19 | C$36.37 | -65% |
| Darden Restaurants, Inc DRI | $195.74 | $173.68 | -11% |
| Yum China Holdings YUMC | $43.90 | $55.10 | +26% |
| Texas Roadhouse, Inc TXRH | $197.03 | $104.89 | -47% |
| Dutch Bros Inc BROS | $68.36 | $12.80 | -81% |
| Domino's Pizza, Inc DPZ | $322.18 | $231.96 | -28% |
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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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