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Taiwan Fructose Co (4207) Fair Value & Analysis

Consumer Defensive · TW · Market cap 4.0B TWD

TF Taiwan Fructose Co 4207 · TWO
Price20.05 TWD
Fair Value36.95 TWD
Upside+84.3%
Quality62/100
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Mixed Growth
Thin margins · 7.5% net margin
Low debt · generates free cash flow
6.08% dividend yield
Ranks above peers (11/14)
Moderate moat 52/100
Evidence: Medium Range 24.08 TWD – 46.19 TWD Share as image

Fair value as of: Jul 21, 2026

From 23 valuation models · updated 20 days ago

Share price +1.0% over the past month.

A solid business, screening 84% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (24.08 TWD). The market is more pessimistic than our downside scenario.
  • Solid quality (62/100) at a price below fair value, the discount is the argument here, not the business quality.
  • A fairly wide model range (24.08 TWD to 46.19 TWD) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

20.05 TWD 7.54 TWD Fair Value 36.95 TWD Feb 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 7.54 TWD – 20.05 TWD · fair‑value band 24.08 TWD – 46.19 TWD · the 20.05 TWD price screens below the 36.95 TWD fair value. Dashed = 300-day average. As of Jul 21, 2026.

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Analysis

Taiwan Fructose Co (4207) currently trades at 20.05 TWD, while our model-based Fair Value estimate is 36.95 TWD, implying the stock looks roughly 84.3% undervalued today. The Quality Score stands at 62/100 (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: medium), always confirm before acting.

Over the trailing twelve months, Taiwan Fructose Co generated revenue of 5.2B TWD at a net margin of 7.5%. Revenue grew 2.9% year over year. It earns a return on equity of 13.4%. Net debt stands at 881M TWD. Fundamentals as of Jul 21, 2026

Our scenario range runs from 24.08 TWD (bear case) to 46.19 TWD (bull case); at 20.05 TWD, the current price sits below 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 near its 52-week high and 37% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Defensive peers we cover trades at -45% fair-value upside, at 84%, 4207 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 22.44 TWD 32.24 TWD 45.24 TWD 80
Residual Income 13.48 TWD 15.63 TWD 28.89 TWD 76
Rev-Margin DCF 22.91 TWD 36.94 TWD 52.30 TWD 74
All 23 models by family
DCF Models
FCF DCF 21.91 TWD 32.69 TWD 47.72 TWD 38
Owner Earnings 10.26 TWD 15.83 TWD 23.61 TWD 31
5Y Revenue Exit 22.91 TWD 36.77 TWD 54.02 TWD 39
5Y EBITDA Exit 30.14 TWD 49.82 TWD 72.12 TWD 41
5Y P/E Exit 22.06 TWD 35.23 TWD 48.51 TWD 38
10Y Revenue Exit 21.53 TWD 33.72 TWD 49.17 TWD 36
10Y EBITDA Exit 26.73 TWD 42.41 TWD 62.24 TWD 37
10Y P/E Exit 21.77 TWD 32.69 TWD 45.19 TWD 35
Earnings-Based
Graham-Dodd 11.97 TWD 30.83 TWD 40.15 TWD 54
PEG = 1.0 5.80 TWD 8.29 TWD 10.77 TWD 46
EPV 23.33 TWD 27.36 TWD 30.84 TWD 59
Multiples
P/E Multiple 27.71 TWD 36.95 TWD 46.19 TWD 63
P/S Multiple 22.43 TWD 29.91 TWD 37.39 TWD 58
P/B Multiple 22.43 TWD 29.91 TWD 37.39 TWD 55
EV/EBIT 40.26 TWD 54.42 TWD 68.58 TWD 53
EV/EBITDA 40.15 TWD 54.27 TWD 68.39 TWD 54
EV/Revenue 25.11 TWD 36.81 TWD 48.52 TWD 43
Asset-Based
NCAV (Graham) 7.42 TWD 9.94 TWD 14.83 TWD 50
Growth DCF
Growth DCF 22.44 TWD 32.24 TWD 45.24 TWD 80
Rev-Margin DCF 22.91 TWD 36.94 TWD 52.30 TWD 74
Economic Profit
Residual Income 13.48 TWD 15.63 TWD 28.89 TWD 76
ROIC Compounder 24.43 TWD 30.52 TWD 37.32 TWD 72
Growth Earnings
Growth-Adj P/E 21.55 TWD 30.79 TWD 40.03 TWD 68

Widest divergence: Multiples (36.81 TWD) versus Asset-Based (9.94 TWD). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 5.2B TWD
Revenue growth (YoY) +2.9%
Net margin 7.5%
Return on equity 13.4%
Free cash flow 463M TWD FY2025
P/E ratio 11.3
More key figures
Operating margin 13.4%
EPS (TTM) 1.75 TWD
Dividend yield 6.2%
EPS growth (YoY) +76.2%
Net debt 881M TWD FY2025

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

Quality Score breakdown

Overall quality 62/100

Of which business quality 61 · Market factors (momentum, volatility) 79

Profitability 43
Margins and returns on capital today
Quality Growth 53
Are margins and returns improving?
Cashflow 61
Earnings quality: real cash, not paper profit
Fin. Strength 69
Balance sheet, leverage, solvency risk
Investment 71
Disciplined investing over empire-building
Low Volatility 100
Calm price path (market factor)
Momentum 64
Price trend over the last 3–12 months (market factor)
52W Momentum 83
Distance to the 52-week high (market factor)
Net Issuance 72
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

Taiwan Fructose Co., Ltd. engages in the manufacturing and processing of fructose, maltose, glucose, and starch in Taiwan.

Full company description

Taiwan Fructose Co., Ltd. engages in the manufacturing and processing of fructose, maltose, glucose, and starch in Taiwan. The company offers fructose products used for soft drinks, juices, tea beverages, sports drinks, energy drinks, flavored milk, yogurt drinks, lac fermentum, ice creams, popsicles, ice cream bars, jellies and puddings, breads and cakes, and soy sauce and health food products applications; and maltose products for candy, iced products, jams, jelly, sachima, bean fillings, chewing gums, peanut candy, and candied fruits applications. It also provides oligosaccharide used for lactic acid beverages, sports drinks, low fat milk, iced products, candies, jams, and desserts applications; maltodextrine used in candies, iced products, bakery, biscuits, and desserts applications; and non-dairy creamers for coffee, milk tea, 3in1 instant drink, bakery, and food processing applications. In addition, the company offers sorbitol and dextrose used for food, fillings, toothpaste, cleaning and makeup products, and interface activators, as well as for candy, beverage, bakery, and candied fruit applications. Further, it engages in the trading of tinplate products. Taiwan Fructose Co., Ltd. was founded in 1984 and is headquartered in Taoyuan City, Taiwan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Taiwan Fructose Co reported revenue of 5.2B TWD in FY2025 versus 4.4B TWD in FY2021, a compound +4.2%/yr. Reported net income was 349M TWD in FY2025, compounding −1.0%/yr from FY2021.

Growth Quality 70/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
5.2B TWD
Latest YoY
−8.3%
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.
+0.8%
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.
+5.8%
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.
+4.5%
Revenue +4.2%/yr
FY21 4.4B TWD
FY22 5.0B TWD
FY23 5.3B TWD
FY24 5.6B TWD
FY25 5.2B TWD
Net income −1.0%/yr
FY21 364M TWD
FY22 139M TWD
FY23 234M TWD
FY24 216M TWD
FY25 349M TWD

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Cite: Fair Value Calculator (2026). "Taiwan Fructose Co Fair Value". https://www.fairvalue-calculator.com/stock/4207

Peer Group

Confectioners · 75 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 62 · Top 25%
Fair Value upside +84% · Top 25%
Return on equity (TTM) 13% · Top 25%
Return on assets 7% · Top 25%
Net margin (TTM) 8% · Top 25%
Operating margin (TTM) 13% · Above median
Revenue growth 3% · Above median
Dividend yield (TTM) 6.1% · Top 25%
Debt / equity 0.32× · Higher than median

Valuation Multiples vs Confectioners median · lower = cheaper

P/E (TTM) 11.4× · Cheaper than median
P/B 1.35× · Pricier than median
P/S (TTM) 0.76× · Pricier than 75% of peers
P/FCF 0.3× · Cheaper than median
EV/EBITDA 4.8× · 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 26
FUTURE 15 · sector 0
PAST 54 · sector 26
HEALTH 84 · sector 91
DIVIDEND 100 · sector 57

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

Stock Price Fair Value vs Fair Value
Chocoladefabriken Lindt & Sprüngli AG LISN CHF 96,500 CHF 9,874 -90%
Mondelez International, Inc MDLZ $61.00 $27.68 -55%
The Hershey Company HSY $170.27 $91.25 -46%
Barry Callebaut AG BARN CHF 1,100 CHF 711.91 -35%
ORION Corp 271560 127,100 KRW 203,315 KRW +60%
Tootsie Roll Industries, Inc TROLB $39.50 $21.81 -45%
Guangxi Yuegui Guangye Holdings 000833 ¥18.81 ¥9.83 -48%
Cloetta AB CLAB kr 48.88 kr 59.12 +21%
Balrampur Chini Mills Limited BALRAMCHIN ₹586.20 ₹304.54 -48%
PT Yupi Indo Jelly Gum Tbk YUPI 1,320 IDR 1,286 IDR -3%

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Frequently asked questions

Is Taiwan Fructose Co (4207) overvalued or undervalued?
As of Jul 21, 2026, our model estimates a fair value of 36.95 TWD versus a price of 20.05 TWD, about +84% (undervalued).
What is the fair value of 4207?
Our model-based fair value for Taiwan Fructose Co is 36.95 TWD (as of Jul 21, 2026), built from audited fundamentals. The current price is 20.05 TWD.
What is the quality score of 4207?
Taiwan Fructose Co has a Quality Score of 62/100. 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 Taiwan Fructose Co (4207)?
Taiwan Fructose Co reported trailing-twelve-month revenue of about 5.2B TWD (latest available figure, as of Jul 21, 2026).
What is the net profit margin of 4207?
The net profit margin of Taiwan Fructose Co is about 7.5%, meaning it keeps roughly 7.5% of revenue as net income. Based on the latest reported figures.
Does Taiwan Fructose Co pay a dividend?
Taiwan Fructose Co currently shows a dividend yield of about 6.15% relative to its recent price (as of Jul 21, 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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