Chung Hwa Food Industrial Co Ltd (4205) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Chung Hwa Food Industrial Co Ltd TWD 63.79, price TWD 68.50, upside -6.9%, quality 71 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Chung Hwa Food Industrial Co., Ltd. engages in the manufacturing, processing, and sales of various bean products in Taiwan.
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Chung Hwa Food Industrial Co., Ltd. engages in the manufacturing, processing, and sales of various bean products in Taiwan. The company offers soy products, such as extra soft, hot pot, homemade, cold, egg, organic, firm, golden, fried, and frozen tofu, as well as tofu, soy pudding, dried tofu, and soy milk; fruit juice beverages; and canned food and oil products. It also provides desserts and hot pot ingredients, as well as engages in the import and export trade, and agency bidding business. The company distributes its products through dealers. Chung Hwa Food Industrial Co., Ltd. was formerly known as Herng Yih Food Industrial Co Ltd and changed its name to Chung Hwa Food Industrial Co., Ltd. in July 2013. Chung Hwa Food Industrial Co., Ltd. was founded in 1969 and is based in Kaohsiung, Taiwan.
Stock analysis
Chung Hwa Food Industrial Co Ltd (4205) currently trades at 68.50 TWD, while our model-based Fair Value estimate is 63.79 TWD, implying the stock looks roughly 7.4% fairly valued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 71.94 TWD per share, and 8 of the 25 models we run sit above the 68.50 TWD price.
Bear case: the Asset-Based group reads lowest at 15.96 TWD, and 17 of the 25 models stay below the price. Evidence for this calculation is high.
Scenario range: 47.30 TWD (bear) to 84.30 TWD (bull), the price of 68.50 TWD sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 71/100 (solid quality), in the Consumer Defensive sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Chung Hwa Food Industrial Co Ltd reported revenue of 2.1B TWD in FY2025 versus 1.7B TWD in FY2021, a compound +4.5%/yr. Reported net income was 404M TWD in FY2025, compounding +4.9%/yr from FY2021.
Key figures
Market cap 6.7B TWD (≈ $210M) · P/E ratio 17.3 · P/S ratio 3.39 · EPS (TTM) 3.97 TWD · Dividend yield 5.1% · Net margin 19.7% · Return on equity 18.1% · Return on assets (EBIT) 18.8%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 57 out of 100 (medium confidence).
What moves the price
The share trades about 20% below its 52-week high and at its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Defensive peers we cover trades at −2% fair-value upside, at −7%, 4205 screens richer than that median.
Fair Value models
Bear 47.30 TWDFair Value 63.79 TWDBull 84.30 TWD
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (0.3451 TWD per share) are deliberately not added.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 ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.78/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+1.7%
Revenue growth 3 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+3.7%
Revenue growth 5 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+4.5%
Start year 2020 (pandemic). Over 10 years: +4.6% a year
Revenue growth 10 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+4.6%
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What shareholders gained per year (last 5 years), in TWD ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in TWD: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+7.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year+2.0%
Dividend (yield on the price)5.1%
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.26% → 24%
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+10.1%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Taiwan: IMF forecast 1.6% a year to 2030, 1.5% from 2016 to 2025) that is about +8.4% a year for the price.
Compare Chung Hwa Food Industrial Co Ltd with another stock
Price, fair value, quality and upside side by side.
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Peer Groupⓘ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.Packaged Foods · 667 stocks
Beats the industry median on 7/13 measures
A mixed picture versus its industry peers.
Valuation
Quality Score71 · Top 25%
Fair Value upside−7% · Below median
Profitability
Return on equity (TTM)18% · Top 25%
Return on assets11% · Top 25%
Net margin (TTM)19% · Top 25%
Operating margin (TTM)21% · Top 25%
Growth and dividend
Revenue growth−2% · Below median
Dividend yield (TTM)5.1% · Top 25%
Valuation Multiplesvs Packaged Foods median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Chung Hwa Food Industrial Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/4205
Frequently asked questions
Is Chung Hwa Food Industrial Co Ltd (4205) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 63.79 TWD versus a price of 68.50 TWD, about −7% upside (fairly valued).
What is the fair value of 4205?
Our model-based fair value for Chung Hwa Food Industrial Co Ltd is 63.79 TWD (as of Sep 24, 2026), built from audited fundamentals. The current price: 68.50 TWD.
What is the quality score of 4205?
Chung Hwa Food Industrial Co Ltd has a Quality Score of 71/100. 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 price target for Chung Hwa Food Industrial Co Ltd (4205)?
Our model-based price target is the fair value of 63.79 TWD (as of Sep 24, 2026) from 25 valuation models. Cautious scenario 47.30 TWD, optimistic scenario 84.30 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Chung Hwa Food Industrial Co Ltd stock forecast for 2026?
Our models put fair value at 63.79 TWD, about −7% upside versus a price of 68.50 TWD (fairly valued). Cautious scenario 47.30 TWD, optimistic scenario 84.30 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Chung Hwa Food Industrial Co Ltd (4205)?
Chung Hwa Food Industrial Co Ltd reported trailing-twelve-month revenue of about 2.1B TWD (latest available figure, as of Sep 24, 2026).
Does Chung Hwa Food Industrial Co Ltd pay a dividend?
Chung Hwa Food Industrial Co Ltd currently shows a dividend yield of about 5.11% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Chung Hwa Food Industrial Co Ltd (4205)?
For today's price to be fair in a discounted-cash-flow model, Chung Hwa Food Industrial Co Ltd would have to grow free cash flow by +10.1 % per year for five years (discount rate 11.8 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +4.5 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 4205 use?
Our models discount Chung Hwa Food Industrial Co Ltd at 11.8 %: a base by market capitalisation (micro), damped by beta 0.00, country premium for Taiwan. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Chung Hwa Food Industrial Co Ltd that is +10.1 % per year a year over ten years, using the same discount rate (11.8 %) and the same formula as our fair value.
How much growth has Chung Hwa Food Industrial Co Ltd (4205) delivered so far?
Over the past 5 years revenue at Chung Hwa Food Industrial Co Ltd grew +4.5 % a year. The price currently implies +10.1 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Chung Hwa Food Industrial Co Ltd (4205) growing?
The median revenue growth in the sector is +2.9 % a year. That is the yardstick for the growth priced into Chung Hwa Food Industrial Co Ltd (+10.1 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Chung Hwa Food Industrial Co Ltd (4205)?
The free-cash-flow yield on the price is 5.28 %: that much free cash flow Chung Hwa Food Industrial Co Ltd produces per unit of market value. When it exceeds the discount rate of our models (11.8 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Chung Hwa Food Industrial Co Ltd (4205)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Chung Hwa Food Industrial Co Ltd it is 63.79 TWD per share (as of Sep 24, 2026), against a price of 68.50 TWD. It is the blended result of 25 valuation models (cash flow, earnings, asset, dividend).
Is Chung Hwa Food Industrial Co Ltd stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 4205 trades above its calculated fair value: price 68.50 TWD, fair value 63.79 TWD, a gap of about −7% (fairly valued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 4205?
No. The price is what the market pays today (68.50 TWD); the fair value is what the company's own numbers justify (63.79 TWD). For Chung Hwa Food Industrial Co Ltd the two are 4.71 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Chung Hwa Food Industrial Co Ltd worth?
The market values Chung Hwa Food Industrial Co Ltd at about 6.7B TWD (market capitalisation, as of Sep 24, 2026). Per share that is 68.50 TWD; our models calculate a fair value of 63.79 TWD per share.
What do the bullish and bearish scenarios say about 4205?
Our models span a range for Chung Hwa Food Industrial Co Ltd: cautious scenario 47.30 TWD, base 63.79 TWD, optimistic 84.30 TWD per share (as of Sep 24, 2026, price 68.50 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 4205?
Chung Hwa Food Industrial Co Ltd trades at a price-to-earnings ratio of 17.3 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 63.79 TWD is built from several models across several years. Other multiples: P/B 2.9, P/S 3.3, EV/EBITDA 10.8.
How solid is the balance sheet of Chung Hwa Food Industrial Co Ltd (4205)?
Balance-sheet figures for Chung Hwa Food Industrial Co Ltd (as of Sep 24, 2026): return on equity 18.1%. They feed the Quality Score of 71/100, which measures business quality independently of the share price.
How far is 4205 from its 52-week high?
Chung Hwa Food Industrial Co Ltd trades at 68.50 TWD, about 20% below its 52-week high of 85.31 TWD and at the low of 68.50 TWD (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 63.79 TWD is for.
Which stocks are comparable to Chung Hwa Food Industrial Co Ltd?
From the same area (Consumer Defensive) we also value Nestlé S.A, Danone S.A, The Kraft Heinz Company, Foshan Haitian Flavouring and Food Company, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Chung Hwa Food Industrial Co Ltd stock attractive at the current price?
The data as of Sep 24, 2026: price 68.50 TWD, calculated fair value 63.79 TWD (−7%), Quality Score 71/100, from 25 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 4205 calculated?
We run Chung Hwa Food Industrial Co Ltd through 25 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of 63.79 TWD, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.2 % above its aggregate fair value. Chung Hwa Food Industrial Co Ltd itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Chung Hwa Food Industrial Co Ltd (4205)?
The closing price on Sep 24, 2026 was 68.50 TWD. Our model-based fair value is 63.79 TWD, about −7% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Chung Hwa Food Industrial Co Ltd right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. The price sits in the upper half of our model range, so the margin of safety is thin. The data supports the verdict: every model runs on fully documented inputs.
Key figures of Chung Hwa Food Industrial Co Ltd
How large is the market capitalisation of Chung Hwa Food Industrial Co Ltd (4205)?
The market capitalisation of Chung Hwa Food Industrial Co Ltd is 6.7B TWD (≈ $210M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Chung Hwa Food Industrial Co Ltd (4205)?
The price-to-sales ratio of Chung Hwa Food Industrial Co Ltd is 3.39 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Chung Hwa Food Industrial Co Ltd (4205)?
Earnings per share at Chung Hwa Food Industrial Co Ltd are 3.97 TWD (price ÷ EPS = P/E 17.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Chung Hwa Food Industrial Co Ltd (4205)?
The dividend yield of Chung Hwa Food Industrial Co Ltd is 5.1% (payout 88.2%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Chung Hwa Food Industrial Co Ltd (4205)?
The net margin of Chung Hwa Food Industrial Co Ltd is 19.7% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Chung Hwa Food Industrial Co Ltd (4205)?
The return on equity (ROE) of Chung Hwa Food Industrial Co Ltd is 18.1% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Chung Hwa Food Industrial Co Ltd (4205)?
On an EBIT basis the return on assets of Chung Hwa Food Industrial Co Ltd is 18.8% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Chung Hwa Food Industrial Co Ltd (4205)?
The operating margin of Chung Hwa Food Industrial Co Ltd is 21.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Chung Hwa Food Industrial Co Ltd (4205)?
Revenue at Chung Hwa Food Industrial Co Ltd is growing −1.8% versus a year earlier (3y avg +3.7%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Chung Hwa Food Industrial Co Ltd (4205)?
Earnings per share at Chung Hwa Food Industrial Co Ltd are growing −11.8% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Chung Hwa Food Industrial Co Ltd (4205) hold?
Chung Hwa Food Industrial Co Ltd holds more cash than debt, 848M TWD net (fiscal year 2023). The company holds more cash than debt, a safety cushion.
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