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Shih-Kuen Plastics Co (4305) Fair Value & Analysis

Consumer Cyclical · TW · Market cap 2.3B TWD

SK Shih-Kuen Plastics Co 4305 · TWO
Price43.80 TWD
Fair Value50.64 TWD
Upside+15.6%
Quality78/100
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Weak Growth
Solidly profitable · 20.0% net margin
generates free cash flow
7.51% dividend yield
Ranks above peers (10/13)
Wide moat 73/100
Evidence: High Range 37.93 TWD – 65.57 TWD Share as image

Fair value as of: Jul 23, 2026

From 24 valuation models · updated 18 days ago

Fair value updated Jul 23, 2026, revised from 62.93 TWD to 50.64 TWD (−19.5%) since Jul 9, 2026. Share price +4.0% over the past month.

A strong business, screening 16% undervalued on our models.

What matters now

  • Our model range runs from 37.93 TWD (bear) to 65.57 TWD (bull), base 50.64 TWD. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 78/100 (high quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

48.15 TWD 25.97 TWD Fair Value 50.64 TWD Aug 2020 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 25.97 TWD – 48.15 TWD · fair‑value band 37.93 TWD – 65.57 TWD · the 43.80 TWD price screens below the 50.64 TWD fair value. Dashed = 300-day average. As of Jul 23, 2026.

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Analysis

Shih-Kuen Plastics Co (4305) currently trades at 43.80 TWD, while our model-based Fair Value estimate is 50.64 TWD, implying the stock looks roughly 15.6% undervalued today. The Quality Score stands at 78/100 (high quality), in the Consumer Cyclical 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, Shih-Kuen Plastics Co generated revenue of 1.1B TWD at a net margin of 20.0%. Revenue declined 5.7% year over year. It earns a return on equity of 16.4%. The balance sheet holds a net cash position of 239M TWD. Fundamentals as of Jul 23, 2026

Our scenario range runs from 37.93 TWD (bear case) to 65.57 TWD (bull case); at 43.80 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 9% below its 52-week high and 9% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at -44% fair-value upside, at 16%, 4305 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 24.03 TWD 29.37 TWD 57.16 TWD 76
Growth DCF 48.24 TWD 62.25 TWD 85.46 TWD 72
Gordon GGM 28.10 TWD 35.54 TWD 42.99 TWD 70
All 24 models by family
DCF Models
FCF DCF 46.74 TWD 61.26 TWD 87.28 TWD 38
Owner Earnings 37.60 TWD 49.04 TWD 69.55 TWD 31
5Y Revenue Exit 29.67 TWD 37.30 TWD 48.16 TWD 39
5Y EBITDA Exit 43.08 TWD 60.19 TWD 82.44 TWD 41
5Y P/E Exit 53.78 TWD 78.46 TWD 107.28 TWD 38
10Y Revenue Exit 35.67 TWD 43.27 TWD 51.52 TWD 36
10Y EBITDA Exit 44.17 TWD 58.08 TWD 73.75 TWD 37
10Y P/E Exit 50.61 TWD 69.90 TWD 89.86 TWD 35
Earnings-Based
Graham-Dodd 26.08 TWD 45.60 TWD 55.93 TWD 54
EPV 39.12 TWD 44.74 TWD 49.59 TWD 59
Dividend Discount
Gordon GGM 28.10 TWD 35.54 TWD 42.99 TWD 70
DDM Multi-Stage 28.10 TWD 37.52 TWD 48.55 TWD 61
Multiples
P/E Multiple 63.27 TWD 84.37 TWD 105.46 TWD 63
P/S Multiple 17.67 TWD 23.56 TWD 29.45 TWD 58
P/B Multiple 48.89 TWD 65.19 TWD 81.49 TWD 55
EV/EBIT 65.44 TWD 86.06 TWD 106.69 TWD 53
EV/EBITDA 46.58 TWD 60.93 TWD 75.27 TWD 54
EV/Revenue 20.05 TWD 27.12 TWD 34.18 TWD 43
Asset-Based
NCAV (Graham) 11.40 TWD 15.28 TWD 22.80 TWD 50
Growth DCF
Growth DCF 48.24 TWD 62.25 TWD 85.46 TWD 72
Rev-Margin DCF 29.67 TWD 38.19 TWD 49.12 TWD 67
Economic Profit
Residual Income 24.03 TWD 29.37 TWD 57.16 TWD 76
ROIC Compounder 39.79 TWD 46.48 TWD 53.32 TWD 67
Growth Earnings
Growth-Adj P/E 44.60 TWD 63.72 TWD 82.84 TWD 68

Widest divergence: Growth Earnings (63.72 TWD) versus Asset-Based (15.28 TWD). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 1.1B TWD
Revenue growth (YoY) -5.7%
Net margin 20.0%
Return on equity 16.4%
Free cash flow 246M TWD FY2025
P/E ratio 10.8
More key figures
Operating margin 21.9%
EPS (TTM) 3.81 TWD
Dividend yield 7.5%
EPS growth (YoY) +3.7%
Net cash 239M TWD FY2023

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

Quality Score breakdown

Overall quality 78/100

Of which business quality 76 · Market factors (momentum, volatility) 57

Profitability 64
Margins and returns on capital today
Quality Growth 57
Are margins and returns improving?
Cashflow 81
Earnings quality: real cash, not paper profit
Fin. Strength 89
Balance sheet, leverage, solvency risk
Investment 80
Disciplined investing over empire-building
Low Volatility 96
Calm price path (market factor)
Momentum 38
Price trend over the last 3–12 months (market factor)
52W Momentum 44
Distance to the 52-week high (market factor)
Net Issuance 82
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

Shih-Kuen Plastics Co., Ltd. engages in the manufacturing, processing, and sales of plastic sheet products. It offers PVC sheets and vinyl films.

Full company description

Shih-Kuen Plastics Co., Ltd. engages in the manufacturing, processing, and sales of plastic sheet products. It offers PVC sheets and vinyl films. The company also offers double polished PVC sheets, such as super and normal clear, and transparent colored PVC sheets; textured and embossing PVC sheets, including opaque and translucent textured, and semi-transparent PVC sheets; super clear and colored laminated thick PVC sheets; and UV stabilized outdoor, cold crack resistant, and fire flame retardant PVC sheets. The company's products are used for home and office supplies, construction and industrial, outdoor PVC waterproof covers, personal protective products, and medical applications. It also exports its products worldwide. Shih-Kuen Plastics Co., Ltd. was founded in 1986 and is based in Tainan City, Taiwan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Shih-Kuen Plastics Co reported revenue of 1.1B TWD in FY2025 versus 1.2B TWD in FY2021, a compound −2.0%/yr. Reported net income was 211M TWD in FY2025, compounding +17.3%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
1.1B TWD
Latest YoY
+3.5%
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.
+5.9%
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.
+1.5%
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.
−1.2%
Revenue −2.0%/yr
FY21 1.2B TWD
FY22 910M TWD
FY23 941M TWD
FY24 1.0B TWD
FY25 1.1B TWD
Net income +17.3%/yr
FY21 111M TWD
FY22 147M TWD
FY23 160M TWD
FY24 218M TWD
FY25 211M TWD

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Cite: Fair Value Calculator (2026). "Shih-Kuen Plastics Co Fair Value". https://www.fairvalue-calculator.com/stock/4305

Peer Group

Auto Parts · 642 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 78 · Top 25%
Fair Value upside +16% · Above median
Return on equity (TTM) 16% · Top 25%
Return on assets 11% · Top 25%
Net margin (TTM) 20% · Top 25%
Operating margin (TTM) 22% · Top 25%
Revenue growth -6% · Bottom 25%
Dividend yield (TTM) 7.5% · Top 25%

Valuation Multiples vs Auto Parts median · lower = cheaper

P/E (TTM) 10.8× · Cheaper than 75% of peers
P/B 1.81× · Pricier than median
P/S (TTM) 2.13× · Pricier than median
P/FCF 0.3× · Cheaper than 75% of peers
EV/EBITDA 7.8× · 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 54 · sector 16
FUTURE 0 · sector 23
PAST 66 · sector 26
HEALTH 0 · sector 95
DIVIDEND 100 · sector 30

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.

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Frequently asked questions

Is Shih-Kuen Plastics Co (4305) overvalued or undervalued?
As of Jul 23, 2026, our model estimates a fair value of 50.64 TWD versus a price of 43.80 TWD, about +16% (undervalued).
What is the fair value of 4305?
Our model-based fair value for Shih-Kuen Plastics Co is 50.64 TWD (as of Jul 23, 2026), built from audited fundamentals. The current price is 43.80 TWD.
What is the quality score of 4305?
Shih-Kuen Plastics Co has a Quality Score of 78/100. 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 Shih-Kuen Plastics Co (4305)?
Shih-Kuen Plastics Co reported trailing-twelve-month revenue of about 1.1B TWD (latest available figure, as of Jul 23, 2026).
What is the net profit margin of 4305?
The net profit margin of Shih-Kuen Plastics Co is about 20.0%, meaning it keeps roughly 20.0% of revenue as net income. Based on the latest reported figures.
Does Shih-Kuen Plastics Co pay a dividend?
Shih-Kuen Plastics Co currently shows a dividend yield of about 7.05% 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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