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Kuen Ling Machinery Refrigerating Co (4527) Fair Value & Analysis

Technology · TW · Market cap 3.0B TWD

KL Kuen Ling Machinery Refrigerating Co 4527 · TWO
Price40.60 TWD
Fair Value71.30 TWD
Upside+75.6%
Quality71/100
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Mixed Growth
Thin margins · 8.9% net margin
Low debt · generates free cash flow
7.64% dividend yield
Ranks above peers (13/14)
Moderate moat 56/100
Evidence: High Range 53.47 TWD – 89.12 TWD Share as image

Fair value as of: Jul 23, 2026

From 25 valuation models · updated 18 days ago

Share price +3.4% over the past month.

A solid business, screening 76% undervalued on our models.

What matters now

  • The rarer combination: high quality (71/100) AND below fair value. That earns a closer look rather than a quick verdict.
  • The price is below even our cautious bear case (53.47 TWD). The market is more pessimistic than our downside scenario.
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Price vs Fair Value (5 years)

57.32 TWD 18.87 TWD Fair Value 71.30 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 18.87 TWD – 57.32 TWD · fair‑value band 53.47 TWD – 89.12 TWD · the 40.60 TWD price screens below the 71.30 TWD fair value. Dashed = 300-day average. As of Jul 23, 2026.

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Analysis

Kuen Ling Machinery Refrigerating Co (4527) currently trades at 40.60 TWD, while our model-based Fair Value estimate is 71.30 TWD, implying the stock looks roughly 75.6% undervalued today. The Quality Score stands at 71/100 (solid quality), in the Technology 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, Kuen Ling Machinery Refrigerating Co generated revenue of 3.0B TWD at a net margin of 8.9%. Revenue declined 5.6% year over year. It earns a return on equity of 15.3%. The stock trades on a trailing P/E of 12.3. Fundamentals as of Jul 23, 2026

Our scenario range runs from 53.47 TWD (bear case) to 89.12 TWD (bull case); at 40.60 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 about 6% below its 52-week high and 16% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -73% fair-value upside, at 76%, 4527 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 65.07 TWD 85.11 TWD 111.28 TWD 80
Residual Income 22.92 TWD 27.50 TWD 48.00 TWD 76
Rev-Margin DCF 55.88 TWD 77.53 TWD 100.85 TWD 74
All 25 models by family
DCF Models
FCF DCF 63.73 TWD 85.43 TWD 115.05 TWD 38
Owner Earnings 49.61 TWD 65.46 TWD 87.09 TWD 31
5Y Revenue Exit 55.88 TWD 76.84 TWD 102.42 TWD 39
5Y EBITDA Exit 60.81 TWD 85.61 TWD 113.09 TWD 41
5Y P/E Exit 60.23 TWD 84.58 TWD 108.68 TWD 38
10Y Revenue Exit 57.27 TWD 76.26 TWD 99.38 TWD 36
10Y EBITDA Exit 61.45 TWD 82.06 TWD 106.98 TWD 37
10Y P/E Exit 61.10 TWD 81.37 TWD 103.84 TWD 35
Earnings-Based
Graham-Dodd 23.09 TWD 54.05 TWD 69.52 TWD 54
PEG = 1.0 9.25 TWD 13.21 TWD 17.17 TWD 46
EPV 48.46 TWD 54.32 TWD 59.37 TWD 59
Dividend Discount
Gordon GGM 28.10 TWD 46.76 TWD 68.01 TWD 70
DDM Multi-Stage 28.10 TWD 40.89 TWD 54.46 TWD 61
Multiples
P/E Multiple 53.47 TWD 71.30 TWD 89.12 TWD 63
P/S Multiple 43.29 TWD 57.72 TWD 72.15 TWD 58
P/B Multiple 43.29 TWD 57.72 TWD 72.15 TWD 55
EV/EBIT 70.84 TWD 90.67 TWD 110.49 TWD 53
EV/EBITDA 65.90 TWD 84.08 TWD 102.26 TWD 54
EV/Revenue 53.81 TWD 72.01 TWD 90.20 TWD 43
Asset-Based
NCAV (Graham) 11.79 TWD 15.80 TWD 23.58 TWD 50
Growth DCF
Growth DCF 65.07 TWD 85.11 TWD 111.28 TWD 80
Rev-Margin DCF 55.88 TWD 77.53 TWD 100.85 TWD 74
Economic Profit
Residual Income 22.92 TWD 27.50 TWD 48.00 TWD 76
ROIC Compounder 49.77 TWD 57.48 TWD 65.28 TWD 72
Growth Earnings
Growth-Adj P/E 40.43 TWD 57.75 TWD 75.08 TWD 68

Widest divergence: DCF Models (81.37 TWD) versus Asset-Based (15.80 TWD). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 3.0B TWD
Revenue growth (YoY) -5.6%
Net margin 8.9%
Return on equity 15.3%
Free cash flow 393M TWD FY2025
P/E ratio 12.3
More key figures
Operating margin 10.5%
EPS (TTM) 3.36 TWD
Dividend yield 7.3%
EPS growth (YoY) +29.5%

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) 61

Profitability 52
Margins and returns on capital today
Quality Growth 37
Are margins and returns improving?
Cashflow 71
Earnings quality: real cash, not paper profit
Fin. Strength 93
Balance sheet, leverage, solvency risk
Investment 88
Disciplined investing over empire-building
Low Volatility 99
Calm price path (market factor)
Momentum 42
Price trend over the last 3–12 months (market factor)
52W Momentum 51
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

Kuen Ling Machinery Refrigerating Co., Ltd. engages in the manufacture and sale of ice water main units and air-conditioning equipment in Taiwan, Mainland China, Vietnam, and internationally. It offers water cooled and air-cooled chiller, computer room box, and hot and cold-water units; condensing units; chiller and condenser; and ice storage tanks.

Full company description

Kuen Ling Machinery Refrigerating Co., Ltd. engages in the manufacture and sale of ice water main units and air-conditioning equipment in Taiwan, Mainland China, Vietnam, and internationally. It offers water cooled and air-cooled chiller, computer room box, and hot and cold-water units; condensing units; chiller and condenser; and ice storage tanks. In addition, it engages in the manufacture, sale, processing, trading and leasing of condensers, chillers, chiller units, and refrigeration units. Its products are used in commercial buildings, shopping malls, hospitals, factories, and data centers. The company was founded in 1988 and is based in Kaohsiung, Taiwan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Kuen Ling Machinery Refrigerating Co reported revenue of 3.1B TWD in FY2025 versus 2.5B TWD in FY2021, a compound +4.9%/yr. Reported net income was 259M TWD in FY2025, compounding +14.4%/yr from FY2021.

Growth Quality 64/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
3.1B TWD
Latest YoY
−15.9%
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.
+0.4%
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.
+3.3%
Avg. growth/yr (23Y) 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.
+5.7%
Revenue +4.9%/yr
FY21 2.5B TWD
FY22 3.0B TWD
FY23 3.5B TWD
FY24 3.6B TWD
FY25 3.1B TWD
Net income +14.4%/yr
FY21 151M TWD
FY22 204M TWD
FY23 258M TWD
FY24 320M TWD
FY25 259M TWD

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Cite: Fair Value Calculator (2026). "Kuen Ling Machinery Refrigerating Co Fair Value". https://www.fairvalue-calculator.com/stock/4527

Peer Group

Electronic Components · 625 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 +76% · Top 25%
Return on equity (TTM) 15% · Top 25%
Return on assets 6% · Top 25%
Net margin (TTM) 9% · Above median
Operating margin (TTM) 10% · Above median
Revenue growth -6% · Below median
Dividend yield (TTM) 7.6% · Top 25%
Debt / equity 0.04× · Lower than median

Valuation Multiples vs Electronic Components median · lower = cheaper

P/E (TTM) 11.7× · Cheaper than 75% of peers
P/B 1.67× · Cheaper than median
P/S (TTM) 0.99× · Cheaper than median
P/FCF 0.2× · Cheaper than 75% of peers
EV/EBITDA 5.7× · Cheaper than 75% of peers

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 0
FUTURE 0 · sector 32
PAST 61 · sector 24
HEALTH 98 · sector 95
DIVIDEND 100 · sector 25

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

Stock Price Fair Value vs Fair Value
Delta Electronics, Inc 2308 1,880 TWD 515.23 TWD -73%
Hon Hai Precision Industry Co 2317 242.50 TWD 270.47 TWD +12%
Luxshare Precision Industry Co 002475 ¥62.14 ¥38.44 -38%
Samsung Electro-Mechanics Co 009150 1,260,000 KRW 166,421 KRW -87%
Elite Material Co 2383 4,990 TWD 714.36 TWD -86%
Yageo Corporation 2327 699.00 TWD 216.55 TWD -69%
Shengyi Technology Co 600183 ¥132.29 ¥27.45 -79%
Shennan Circuits Co 002916 ¥364.00 ¥93.50 -74%
Victory Giant Technology (HuiZhou) Co 2476 HK$297.00 HK$103.98 -65%
Wus Printed Circuit (Kunshan) Co 002463 ¥127.80 ¥31.95 -75%

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Frequently asked questions

Is Kuen Ling Machinery Refrigerating Co (4527) overvalued or undervalued?
As of Jul 23, 2026, our model estimates a fair value of 71.30 TWD versus a price of 40.60 TWD, about +76% (undervalued).
What is the fair value of 4527?
Our model-based fair value for Kuen Ling Machinery Refrigerating Co is 71.30 TWD (as of Jul 23, 2026), built from audited fundamentals. The current price is 40.60 TWD.
What is the quality score of 4527?
Kuen Ling Machinery Refrigerating 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 Kuen Ling Machinery Refrigerating Co (4527)?
Kuen Ling Machinery Refrigerating Co reported trailing-twelve-month revenue of about 3.0B TWD (latest available figure, as of Jul 23, 2026).
What is the net profit margin of 4527?
The net profit margin of Kuen Ling Machinery Refrigerating Co is about 8.9%, meaning it keeps roughly 8.9% of revenue as net income. Based on the latest reported figures.
Does Kuen Ling Machinery Refrigerating Co pay a dividend?
Kuen Ling Machinery Refrigerating Co currently shows a dividend yield of about 7.33% 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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