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Hengs Technology Co (4582) Fair Value & Analysis

Technology · TW · Market cap 2.4B TWD

HT Hengs Technology Co 4582 · TWO
Price28.40 TWD
Fair Value26.30 TWD
Upside-7.4%
Quality68/100
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Weak Growth
Solidly profitable · 11.6% net margin
Low debt · generates free cash flow
2.82% dividend yield
Ranks above peers (12/14)
Moderate moat 50/100
Evidence: High Range 17.61 TWD – 34.98 TWD Share as image

Fair value as of: Jul 23, 2026

From 23 valuation models · updated 18 days ago

Share price +8.2% 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 (17.61 TWD to 34.98 TWD) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

51.00 TWD 16.34 TWD Fair Value 26.30 TWD Feb 2021 Jul 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 16.34 TWD – 51.00 TWD · fair‑value band 17.61 TWD – 34.98 TWD · the 28.40 TWD price screens above the 26.30 TWD fair value. Dashed = 300-day average. As of Jul 23, 2026.

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Analysis

Hengs Technology Co (4582) currently trades at 28.40 TWD, while our model-based Fair Value estimate is 26.30 TWD, implying the stock looks roughly 7.4% fairly valued today. The Quality Score stands at 68/100 (solid quality), in the Technology sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, Hengs Technology Co generated revenue of 1.4B TWD at a net margin of 11.6%. Revenue grew 116.0% year over year. It earns a return on equity of 13.0%. Net debt stands at 639M TWD. Fundamentals as of Jul 23, 2026

Our scenario range runs from 17.61 TWD (bear case) to 34.98 TWD (bull case); at 28.40 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 39% below its 52-week high and 71% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at -7% fair-value upside, at -7%, 4582 screens richer 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 107.76 TWD 142.95 TWD 201.23 TWD 80
Residual Income 13.69 TWD 14.60 TWD 16.35 TWD 76
ROIC Compounder 15.55 TWD 17.51 TWD 19.69 TWD 72
All 23 models by family
DCF Models
FCF DCF 103.53 TWD 140.06 TWD 205.60 TWD 38
Owner Earnings 17.88 TWD 23.06 TWD 32.37 TWD 31
5Y Revenue Exit 50.81 TWD 58.85 TWD 70.26 TWD 39
5Y EBITDA Exit 58.50 TWD 72.16 TWD 90.29 TWD 41
5Y P/E Exit 58.21 TWD 71.65 TWD 88.03 TWD 38
10Y Revenue Exit 71.17 TWD 78.99 TWD 86.09 TWD 36
10Y EBITDA Exit 76.06 TWD 87.03 TWD 97.58 TWD 37
10Y P/E Exit 75.89 TWD 86.73 TWD 96.29 TWD 35
Earnings-Based
Graham-Dodd 9.23 TWD 11.28 TWD 12.69 TWD 54
EPV 15.55 TWD 17.42 TWD 19.03 TWD 59
Dividend Discount
Gordon GGM 1.55 TWD 1.69 TWD 1.90 TWD 70
DDM Multi-Stage 1.55 TWD 1.92 TWD 2.41 TWD 61
Multiples
P/E Multiple 28.51 TWD 38.01 TWD 47.51 TWD 63
P/S Multiple 17.31 TWD 23.08 TWD 28.85 TWD 58
P/B Multiple 17.31 TWD 23.08 TWD 28.85 TWD 55
EV/EBIT 29.76 TWD 38.45 TWD 47.14 TWD 53
EV/EBITDA 32.77 TWD 42.46 TWD 52.15 TWD 54
EV/Revenue 16.88 TWD 22.52 TWD 28.17 TWD 43
Asset-Based
NCAV (Graham) 8.35 TWD 11.19 TWD 16.71 TWD 50
Growth DCF
Growth DCF 107.76 TWD 142.95 TWD 201.23 TWD 80
Economic Profit
Residual Income 13.69 TWD 14.60 TWD 16.35 TWD 76
ROIC Compounder 15.55 TWD 17.51 TWD 19.69 TWD 72
Growth Earnings
Growth-Adj P/E 19.94 TWD 28.48 TWD 37.03 TWD 68

Widest divergence: Growth DCF (142.95 TWD) versus Dividend Discount (1.69 TWD). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 1.4B TWD
Revenue growth (YoY) +116%
Net margin 11.6%
Return on equity 13.0%
Free cash flow 814M TWD FY2025
P/E ratio 20.8
More key figures
Operating margin 12.8%
EPS (TTM) 1.53 TWD
Dividend yield 2.8%
EPS growth (YoY) +77.4%
Net debt 639M TWD FY2024

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

Quality Score breakdown

Overall quality 68/100

Of which business quality 65 · Market factors (momentum, volatility) 50

Profitability 28
Margins and returns on capital today
Quality Growth 84
Are margins and returns improving?
Cashflow 100
Earnings quality: real cash, not paper profit
Fin. Strength 41
Balance sheet, leverage, solvency risk
Investment 91
Disciplined investing over empire-building
Low Volatility 37
Calm price path (market factor)
Momentum 53
Price trend over the last 3–12 months (market factor)
52W Momentum 59
Distance to the 52-week high (market factor)
Net Issuance 67
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

Hengs Technology Co., Ltd. operates as a solar energy engineering contractor company. The company provides ground-mounted solar power plants service; engineering, procurement, construction, professional construction management, and operations and maintenance services; energy storage services; and energy saving services, as well as aquaculture services.

Full company description

Hengs Technology Co., Ltd. operates as a solar energy engineering contractor company. The company provides ground-mounted solar power plants service; engineering, procurement, construction, professional construction management, and operations and maintenance services; energy storage services; and energy saving services, as well as aquaculture services. It also distributes and sells solar energy products including solar photovoltaic panel, charge controller, stand-alone and grid-tied inverters, batteries, surge protectors, and other solar-related components. In addition, the company offers energy storage cabinet, solar panels, charge controllers, inverters, solar bracket water tank, DC combiner boxes, and solar lightings. The company was founded in 1987 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

Hengs Technology Co reported revenue of 1.2B TWD in FY2025 versus 1.7B TWD in FY2021, a compound −8.5%/yr. Reported net income was 102M TWD in FY2025, compounding −19.0%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
1.2B TWD
Latest YoY
+33.0%
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.
−30.4%
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.
−14.0%
Avg. growth/yr (6Y) 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%
Revenue −8.5%/yr
FY21 1.7B TWD
FY22 3.6B TWD
FY23 1.7B TWD
FY24 923M TWD
FY25 1.2B TWD
Net income −19.0%/yr
FY21 237M TWD
FY22 159M TWD
FY23 16.5M TWD
FY24 −6.7M TWD
FY25 102M TWD

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Cite: Fair Value Calculator (2026). "Hengs Technology Co Fair Value". https://www.fairvalue-calculator.com/stock/4582

Peer Group

Solar · 118 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 68 · Top 25%
Fair Value upside −7% · Above median
Return on equity (TTM) 13% · Top 25%
Return on assets 3% · Above median
Net margin (TTM) 12% · Top 25%
Operating margin (TTM) 13% · Top 25%
Revenue growth 116% · Top 25%
Dividend yield (TTM) 2.8% · Top 25%
Debt / equity 0.21× · Lower than median

Valuation Multiples vs Solar median · lower = cheaper

P/E (TTM) 20.8× · Cheaper than median
P/B 1.91× · Pricier than median
P/S (TTM) 1.77× · Pricier than median
P/FCF 0.1× · Cheaper than 75% of peers
EV/EBITDA 10.3× · 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 23 · sector 18
FUTURE 100 · sector 0
PAST 52 · sector 0
HEALTH 89 · sector 85
DIVIDEND 56 · sector 14

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

Stock Price Fair Value vs Fair Value
First Solar, Inc FSLR $221.03 $284.45 +29%
Nextpower Inc NXT $111.50 $69.61 -38%
Waaree Energies Limited WAAREEENER ₹2,923 ₹3,613 +24%
Tongwei Co 600438 ¥13.08 ¥12.13 -7%
Jinko Solar Co 688223 ¥4.39 ¥4.75 +8%
Hengdian Group 002056 ¥21.64 ¥22.76 +5%
CSI Solar Co 688472 ¥10.11 ¥7.01 -31%
Enphase Energy, Inc ENPH $44.83 $22.20 -50%
Premier Energies Limited PREMIERENE ₹1,086 ₹912.32 -16%
Trina Solar Co 688599 ¥12.98 ¥7.97 -39%

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Frequently asked questions

Is Hengs Technology Co (4582) overvalued or undervalued?
As of Jul 23, 2026, our model estimates a fair value of 26.30 TWD versus a price of 28.40 TWD, about −7% (fairly valued).
What is the fair value of 4582?
Our model-based fair value for Hengs Technology Co is 26.30 TWD (as of Jul 23, 2026), built from audited fundamentals. The current price is 28.40 TWD.
What is the quality score of 4582?
Hengs Technology Co has a Quality Score of 68/100. 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 Hengs Technology Co (4582)?
Hengs Technology Co reported trailing-twelve-month revenue of about 1.4B TWD (latest available figure, as of Jul 23, 2026).
What is the net profit margin of 4582?
The net profit margin of Hengs Technology Co is about 11.6%, meaning it keeps roughly 11.6% of revenue as net income. Based on the latest reported figures.
Does Hengs Technology Co pay a dividend?
Hengs Technology Co currently shows a dividend yield of about 2.82% 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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