Kwang Ming Silk Mill Co Ltd (4420) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Kwang Ming Silk Mill Co Ltd TWD 69.90, price TWD 35.80, upside +95.3%, quality 57 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range 23.40 TWD – 72.10 TWD · fair‑value band 43.61 TWD – 111.85 TWD · the 35.80 TWD price screens below the 69.90 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Sep 24, 2026.
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Kwang Ming Silk Mill Co., Ltd. manufactures and sells polyester processed yarns and related fiber products in Taiwan. The company operates in two divisions, Fiber and Real Estate Development. It offers fine denier and functional yarns; knitted fabrics; and composite, specialized functional, and synthetic fabrics.
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Kwang Ming Silk Mill Co., Ltd. manufactures and sells polyester processed yarns and related fiber products in Taiwan. The company operates in two divisions, Fiber and Real Estate Development. It offers fine denier and functional yarns; knitted fabrics; and composite, specialized functional, and synthetic fabrics. The company's products are used in garment fabrics, industrial fabrics, environmentally friendly recycled, polyester fabrics, etc., as well as for outdoor casual wear and sportswear. In addition, it is involved in the development and leasing of residential, commercial office buildings, and factories. Kwang Ming Silk Mill Co., Ltd. was incorporated in 1955 and is based in Taipei, Taiwan.
Stock analysis
Kwang Ming Silk Mill Co Ltd (4420) currently trades at 35.80 TWD, while our model-based Fair Value estimate is 69.90 TWD, implying the stock looks roughly 48.8% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 125.27 TWD per share, and 10 of the 13 models we run sit above the 35.80 TWD price.
Bear case: the Asset-Based group reads lowest at 24.94 TWD, and 3 of the 13 models stay below the price. Evidence for this calculation is medium.
Scenario range: 43.61 TWD (bear) to 111.85 TWD (bull), the price of 35.80 TWD sits below 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 57/100 (solid quality), in the Consumer Cyclical sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Kwang Ming Silk Mill Co Ltd reported revenue of 1.0B TWD in FY2025 versus 917M TWD in FY2021, a compound +2.8%/yr. Reported net income was 224M TWD in FY2025, compounding +28.3%/yr from FY2021.
Key figures
Market cap 1.4B TWD (≈ $45.5M) · P/E ratio 6.5 · P/S ratio 1.41 · EPS (TTM) 5.52 TWD · Net margin 21.8% · Return on equity 2.3% · Return on assets (EBIT) −0.3% · Operating margin 0.8%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 32 out of 100 (medium confidence).
What moves the price
The share trades about 31% below its 52-week high and 3% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at −21% fair-value upside, at 95%, 4420 screens cheaper than that median.
Fair Value models
Bear 43.61 TWDFair Value 69.90 TWDBull 111.85 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 (4.05 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.53/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+22.7%
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.
+3.4%
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.
+11.6%
Start year 2020 (pandemic)
Revenue growth 9 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.
+0.7%
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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.
−6.7%
Earnings growth per share plus dividend.
Earnings per share, growth per year−6.7%
Dividend (yield on the price)0.0%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.−7% vs 24%, slowing
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.0% → −2%
Start year 2020 (pandemic)
⚠ Revenue per share shrinking 3.8%/yr over ~7Y (margins eroding too) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
Compare Kwang Ming Silk Mill Co Ltd with another stock
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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.Textile Manufacturing · 344 stocks
Beats the industry median on 6/10 measures
Overall it ranks above its industry peers.
Valuation
Quality Score57 · Above median
Fair Value upside+96% · Top 25%
Profitability
Return on equity (TTM)2% · Below median
Return on assets0% · Bottom 25%
Net margin (TTM)3% · Above median
Operating margin (TTM)1% · Below median
Growth and dividend
Revenue growth−8% · Below median
Dividend yield (TTM)15.6% · Top 25%
Valuation Multiplesvs Textile Manufacturing median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Kwang Ming Silk Mill Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/4420
Frequently asked questions
Is Kwang Ming Silk Mill Co Ltd (4420) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 69.90 TWD versus a price of 35.80 TWD, about +95% upside (undervalued).
What is the fair value of 4420?
Our model-based fair value for Kwang Ming Silk Mill Co Ltd is 69.90 TWD (as of Sep 24, 2026), built from audited fundamentals. The current price: 35.80 TWD.
What is the quality score of 4420?
Kwang Ming Silk Mill Co Ltd has a Quality Score of 57/100. 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 Kwang Ming Silk Mill Co Ltd (4420)?
Our model-based price target is the fair value of 69.90 TWD (as of Sep 24, 2026) from 13 valuation models. Cautious scenario 43.61 TWD, optimistic scenario 111.85 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Kwang Ming Silk Mill Co Ltd stock forecast for 2026?
Our models put fair value at 69.90 TWD, about +95% upside versus a price of 35.80 TWD (undervalued). Cautious scenario 43.61 TWD, optimistic scenario 111.85 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Kwang Ming Silk Mill Co Ltd (4420)?
Kwang Ming Silk Mill Co Ltd reported trailing-twelve-month revenue of about 1.0B TWD (latest available figure, as of Sep 24, 2026).
What is the intrinsic value of Kwang Ming Silk Mill Co Ltd (4420)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Kwang Ming Silk Mill Co Ltd it is 69.90 TWD per share (as of Sep 24, 2026), against a price of 35.80 TWD. It is the blended result of 13 valuation models (cash flow, earnings, asset, dividend).
Is Kwang Ming Silk Mill Co Ltd stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 4420 trades below its calculated fair value: price 35.80 TWD, fair value 69.90 TWD, a gap of about +95% (undervalued). 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 4420?
No. The price is what the market pays today (35.80 TWD); the fair value is what the company's own numbers justify (69.90 TWD). For Kwang Ming Silk Mill Co Ltd the two are 34.10 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Kwang Ming Silk Mill Co Ltd worth?
The market values Kwang Ming Silk Mill Co Ltd at about 1.4B TWD (market capitalisation, as of Sep 24, 2026). Per share that is 35.80 TWD; our models calculate a fair value of 69.90 TWD per share.
What do the bullish and bearish scenarios say about 4420?
Our models span a range for Kwang Ming Silk Mill Co Ltd: cautious scenario 43.61 TWD, base 69.90 TWD, optimistic 111.85 TWD per share (as of Sep 24, 2026, price 35.80 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 4420?
Kwang Ming Silk Mill Co Ltd trades at a price-to-earnings ratio of 6.5 (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 69.90 TWD is built from several models across several years. Other multiples: P/S 0.0.
How solid is the balance sheet of Kwang Ming Silk Mill Co Ltd (4420)?
Balance-sheet figures for Kwang Ming Silk Mill Co Ltd (as of Sep 24, 2026): return on equity 2.3%. They feed the Quality Score of 57/100, which measures business quality independently of the share price.
How far is 4420 from its 52-week high?
Kwang Ming Silk Mill Co Ltd trades at 35.80 TWD, about 31% below its 52-week high of 51.60 TWD and 3% above the low of 34.90 TWD (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 69.90 TWD is for.
Which stocks are comparable to Kwang Ming Silk Mill Co Ltd?
From the same area (Consumer Cyclical) we also value Shenzhou International Group, Tongkun Group, Inner Mongolia ERDOS Resources Co, K.P.R. Mill Limited, 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 Kwang Ming Silk Mill Co Ltd stock attractive at the current price?
The data as of Sep 24, 2026: price 35.80 TWD, calculated fair value 69.90 TWD (+95%), Quality Score 57/100, from 13 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 4420 calculated?
We run Kwang Ming Silk Mill Co Ltd through 13 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 69.90 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 13.0 % above its aggregate fair value. Kwang Ming Silk Mill Co Ltd currently trades 95 % below its own fair value, and the market average says nothing about that. 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 Kwang Ming Silk Mill Co Ltd (4420)?
The closing price on Sep 24, 2026 was 35.80 TWD. Our model-based fair value is 69.90 TWD, about +95% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Kwang Ming Silk Mill Co Ltd right now?
The price is below even our cautious bear case (43.61 TWD). The market is more pessimistic than our downside scenario. Solid quality (57/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (43.61 TWD to 111.85 TWD) leaves room in how you read the outcome.
Key figures of Kwang Ming Silk Mill Co Ltd
How large is the market capitalisation of Kwang Ming Silk Mill Co Ltd (4420)?
The market capitalisation of Kwang Ming Silk Mill Co Ltd is 1.4B TWD (≈ $45.5M). 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 Kwang Ming Silk Mill Co Ltd (4420)?
The price-to-sales ratio of Kwang Ming Silk Mill Co Ltd is 1.41 (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 Kwang Ming Silk Mill Co Ltd (4420)?
Earnings per share at Kwang Ming Silk Mill Co Ltd are 5.52 TWD (price ÷ EPS = P/E 6.5). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Kwang Ming Silk Mill Co Ltd (4420)?
The net margin of Kwang Ming Silk Mill Co Ltd is 21.8% (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 Kwang Ming Silk Mill Co Ltd (4420)?
The return on equity (ROE) of Kwang Ming Silk Mill Co Ltd is 2.3% (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 Kwang Ming Silk Mill Co Ltd (4420)?
On an EBIT basis the return on assets of Kwang Ming Silk Mill Co Ltd is −0.3% (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 Kwang Ming Silk Mill Co Ltd (4420)?
The operating margin of Kwang Ming Silk Mill Co Ltd is 0.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Kwang Ming Silk Mill Co Ltd (4420)?
Revenue at Kwang Ming Silk Mill Co Ltd is growing −7.6% versus a year earlier (3y avg +3.4%). 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 Kwang Ming Silk Mill Co Ltd (4420)?
Earnings per share at Kwang Ming Silk Mill Co Ltd are growing −96.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Kwang Ming Silk Mill Co Ltd (4420) generate?
The free cash flow of Kwang Ming Silk Mill Co Ltd is −149M TWD (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Kwang Ming Silk Mill Co Ltd (4420) carry?
The net debt of Kwang Ming Silk Mill Co Ltd is 36.7M TWD (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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