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Chung Hwa Food Industrial Co (4205) Fair Value & Analysis

Consumer Defensive · TW · Market cap 6.9B TWD

CH Chung Hwa Food Industrial Co 4205 · TWO
Price69.70 TWD
Fair Value72.66 TWD
Upside+4.3%
Quality71/100
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Healthy Growth
Solidly profitable · 19.4% net margin
generates free cash flow
4.96% dividend yield
Ranks above peers (9/13)
Wide moat 74/100
Evidence: High Range 52.56 TWD – 97.76 TWD Share as image

Fair value as of: Jul 23, 2026

From 25 valuation models · updated 18 days ago

Share price −0.5% over the past month.

A solid business, currently priced close to our fair value.

What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • A fairly wide model range (52.56 TWD to 97.76 TWD) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

111.03 TWD 66.93 TWD Fair Value 72.66 TWD Feb 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 66.93 TWD – 111.03 TWD · fair‑value band 52.56 TWD – 97.76 TWD · the 69.70 TWD price screens below the 72.66 TWD fair value. Dashed = 300-day average. As of Jul 23, 2026.

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Analysis

Chung Hwa Food Industrial Co (4205) currently trades at 69.70 TWD, while our model-based Fair Value estimate is 72.66 TWD, implying the stock looks roughly 4.3% fairly valued today. The Quality Score stands at 71/100 (solid quality), in the Consumer Defensive 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, Chung Hwa Food Industrial Co generated revenue of 2.1B TWD at a net margin of 19.4%. Revenue grew 1.8% year over year. It earns a return on equity of 17.4%. The balance sheet holds a net cash position of 848M TWD. Fundamentals as of Jul 23, 2026

Our scenario range runs from 52.56 TWD (bear case) to 97.76 TWD (bull case); at 69.70 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 24% below its 52-week high, currently below its 200-day average. For context, the median of 10 Consumer Defensive peers we cover trades at -3% fair-value upside, at 4%, 4205 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 26.05 TWD 33.42 TWD 89.30 TWD 76
Growth DCF 49.91 TWD 64.77 TWD 84.40 TWD 72
Gordon GGM 15.97 TWD 29.18 TWD 46.22 TWD 70
All 25 models by family
DCF Models
FCF DCF 49.05 TWD 65.33 TWD 87.90 TWD 38
Owner Earnings 48.09 TWD 63.94 TWD 85.92 TWD 31
5Y Revenue Exit 38.80 TWD 50.48 TWD 64.70 TWD 39
5Y EBITDA Exit 55.34 TWD 80.22 TWD 108.24 TWD 41
5Y P/E Exit 61.65 TWD 91.57 TWD 121.74 TWD 38
10Y Revenue Exit 41.79 TWD 52.89 TWD 66.44 TWD 36
10Y EBITDA Exit 52.56 TWD 72.66 TWD 97.76 TWD 37
10Y P/E Exit 56.43 TWD 80.20 TWD 107.48 TWD 35
Earnings-Based
Graham-Dodd 28.17 TWD 70.80 TWD 91.92 TWD 54
PEG = 1.0 13.02 TWD 18.60 TWD 24.18 TWD 46
EPV 49.87 TWD 55.86 TWD 61.03 TWD 59
Dividend Discount
Gordon GGM 15.97 TWD 29.18 TWD 46.22 TWD 70
DDM Multi-Stage 15.97 TWD 23.82 TWD 31.98 TWD 61
Multiples
P/E Multiple 65.24 TWD 86.98 TWD 108.73 TWD 63
P/S Multiple 25.27 TWD 33.69 TWD 42.11 TWD 58
P/B Multiple 52.81 TWD 70.42 TWD 88.02 TWD 55
EV/EBIT 76.56 TWD 98.11 TWD 119.67 TWD 53
EV/EBITDA 65.67 TWD 83.60 TWD 101.52 TWD 54
EV/Revenue 34.01 TWD 43.49 TWD 52.96 TWD 43
Asset-Based
NCAV (Graham) 11.91 TWD 15.96 TWD 23.83 TWD 50
Growth DCF
Growth DCF 49.91 TWD 64.77 TWD 84.40 TWD 72
Rev-Margin DCF 38.80 TWD 51.00 TWD 64.44 TWD 67
Economic Profit
Residual Income 26.05 TWD 33.42 TWD 89.30 TWD 76
ROIC Compounder 51.38 TWD 59.49 TWD 67.79 TWD 67
Growth Earnings
Growth-Adj P/E 50.36 TWD 71.94 TWD 93.52 TWD 68

Widest divergence: Growth Earnings (71.94 TWD) versus Asset-Based (15.96 TWD). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 2.1B TWD
Revenue growth (YoY) +1.8%
Net margin 19.4%
Return on equity 17.4%
Free cash flow 353M TWD FY2025
P/E ratio 17.6
More key figures
Operating margin 21.2%
EPS (TTM) 4.14 TWD
Dividend yield 4.8%
EPS growth (YoY) -4.1%
Net cash 848M TWD FY2023

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

Quality Score breakdown

Overall quality 71/100

Of which business quality 70 · Market factors (momentum, volatility) 46

Profitability 67
Margins and returns on capital today
Quality Growth 37
Are margins and returns improving?
Cashflow 66
Earnings quality: real cash, not paper profit
Fin. Strength 100
Balance sheet, leverage, solvency risk
Investment 72
Disciplined investing over empire-building
Low Volatility 100
Calm price path (market factor)
Momentum 30
Price trend over the last 3–12 months (market factor)
52W Momentum 11
Distance to the 52-week high (market factor)
Net Issuance 65
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

Chung Hwa Food Industrial Co., Ltd. engages in the manufacturing, processing, and sales of various bean products in Taiwan.

Full company description

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.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Chung Hwa Food Industrial Co 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.

Growth Quality 78/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
2.1B TWD
Latest YoY
+1.7%
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.
+3.7%
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.
+4.5%
Avg. growth/yr (10Y) 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.
+4.6%
Revenue +4.5%/yr
FY21 1.7B TWD
FY22 1.8B TWD
FY23 2.0B TWD
FY24 2.0B TWD
FY25 2.1B TWD
Net income +4.9%/yr
FY21 334M TWD
FY22 353M TWD
FY23 347M TWD
FY24 395M TWD
FY25 404M TWD

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Cite: Fair Value Calculator (2026). "Chung Hwa Food Industrial Co Fair Value". https://www.fairvalue-calculator.com/stock/4205

Peer Group

Packaged Foods · 649 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 71 · Top 25%
Fair Value upside +4% · Above median
Return on equity (TTM) 17% · Top 25%
Return on assets 11% · Top 25%
Net margin (TTM) 19% · Top 25%
Operating margin (TTM) 21% · Top 25%
Revenue growth 2% · Below median
Dividend yield (TTM) 5.0% · Top 25%

Valuation Multiples vs Packaged Foods median · lower = cheaper

P/E (TTM) 17.1× · Cheaper than median
P/B 2.98× · Pricier than 75% of peers
P/S (TTM) 3.35× · Pricier than 75% of peers
P/FCF 0.6× · Cheaper than median
EV/EBITDA 10.8× · Pricier 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 39 · sector 28
FUTURE 9 · sector 20
PAST 70 · sector 27
HEALTH 0 · sector 96
DIVIDEND 99 · sector 47

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

Stock Price Fair Value vs Fair Value
Nestlé India Limited NESTLEIND ₹1,427 ₹362.37 -75%
Britannia Industries Limited BRITANNIA ₹5,413 ₹1,870 -65%
Tata Consumer Products Limited TATACONSUM ₹1,089 ₹327.27 -70%
PT Indofood CBP Sukses Makmur Tbk ICBP 6,650 IDR 15,757 IDR +137%
Samyang Foods Co 003230 1,139,000 KRW 1,010,543 KRW -11%
Patanjali Foods Limited PATANJALI ₹413.80 ₹157.04 -62%
Vietnam Dairy Products Joint Stock Company VNM 58,500 VND 68,259 VND +17%
PT Mayora Indah Tbk, MYOR 1,750 IDR 2,699 IDR +54%
PT Cisarua Mountain Dairy Tbk CMRY 4,490 IDR 4,355 IDR -3%
Nongshim Co 004370 348,500 KRW 530,619 KRW +52%

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Frequently asked questions

Is Chung Hwa Food Industrial Co (4205) overvalued or undervalued?
As of Jul 23, 2026, our model estimates a fair value of 72.66 TWD versus a price of 69.70 TWD, about +4% (fairly valued).
What is the fair value of 4205?
Our model-based fair value for Chung Hwa Food Industrial Co is 72.66 TWD (as of Jul 23, 2026), built from audited fundamentals. The current price is 69.70 TWD.
What is the quality score of 4205?
Chung Hwa Food Industrial Co 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 revenue of Chung Hwa Food Industrial Co (4205)?
Chung Hwa Food Industrial Co reported trailing-twelve-month revenue of about 2.1B TWD (latest available figure, as of Jul 23, 2026).
What is the net profit margin of 4205?
The net profit margin of Chung Hwa Food Industrial Co is about 19.4%, meaning it keeps roughly 19.4% of revenue as net income. Based on the latest reported figures.
Does Chung Hwa Food Industrial Co pay a dividend?
Chung Hwa Food Industrial Co currently shows a dividend yield of about 4.83% 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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