Hengs Technology Co., Ltd. (4582) fair value: what the stock is really worth
As of Jul 22, 2026: fair value of Hengs Technology Co., Ltd. TWD 22.75, price TWD 28.40, upside -19.9%, quality 68 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 16.34 TWD – 51.00 TWD · fair‑value band 17.06 TWD – 28.43 TWD · the 28.40 TWD price screens above the 22.75 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
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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.
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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.
Stock analysis
Hengs Technology Co., Ltd. (4582) currently trades at 28.40 TWD, while our model-based Fair Value estimate is 22.75 TWD, 19.9% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of 105.07 TWD per share, and 10 of the 23 models we run sit above the 28.40 TWD price.
Bear case: the Asset-Based group reads lowest at 11.19 TWD, and 13 of the 23 models stay below the price. Evidence for this calculation is low.
Scenario range: 17.06 TWD (bear) to 28.43 TWD (bull), the price of 28.40 TWD sits inside 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 68/100 (solid quality), in the Technology sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Hengs Technology Co., Ltd. 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.
Key figures
Market cap 2.4B TWD (≈ $75.7M) · P/E ratio 18.6 · P/S ratio 1.55 · EPS (TTM) 1.53 TWD · Dividend yield 3.2% · Net margin 8.4% · Return on equity 13.0% · Return on assets (EBIT) 1.8%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).
What moves the price
The share trades about 34% below its 52-week high and 67% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Technology peers we cover trades at 10% fair-value upside, at −20%, 4582 screens richer than that median.
Fair Value models
Bear 17.06 TWDFair Value 22.75 TWDBull 28.43 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 (0.4764 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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.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.40/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+33.0%
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.
−30.4%
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.
−14.0%
Start year 2020 (pandemic)
Revenue growth 6 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.
+0.8%
’19
’20
’21
’22
’23
’24
’25
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.
−13.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year−16.5%
Dividend (yield on the price)3.2%
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.11% → 9%
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
−27.0%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Taiwan: IMF forecast 1.6% a year to 2030, 1.5% from 2016 to 2025) that is about −28.1% a year for the price.
Compare Hengs Technology Co., Ltd. with another stock
Price, fair value, quality and upside side by side.
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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.Solar · 106 stocks
Beats the industry median on 10/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score68 · Top 25%
Fair Value upside−19.9% · Below median
Profitability
Return on equity (TTM)13.0% · Top 25%
Return on assets2.8% · Above median
Net margin (TTM)11.6% · Top 25%
Operating margin (TTM)12.8% · Above median
Growth and dividend
Revenue growth116.0% · Top 25%
Dividend yield (TTM)3.2% · Top 25%
Balance sheet
Debt / equity0.21× · Below median
Valuation Multiplesvs Solar median · lower = cheaper
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Is Hengs Technology Co., Ltd. (4582) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 22.75 TWD versus the last price from Jul 22, 2026 of 28.40 TWD, about −20% upside (overvalued).
What is the fair value of 4582?
Our model-based fair value for Hengs Technology Co., Ltd. is 22.75 TWD (as of Sep 24, 2026), built from audited fundamentals. Last price (from Jul 22, 2026): 28.40 TWD.
What is the quality score of 4582?
Hengs Technology Co., Ltd. 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 price target for Hengs Technology Co., Ltd. (4582)?
Our model-based price target is the fair value of 22.75 TWD (as of Sep 24, 2026) from 23 valuation models. Cautious scenario 17.06 TWD, optimistic scenario 28.43 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Hengs Technology Co., Ltd. stock forecast for 2026?
Our models put fair value at 22.75 TWD, about −20% upside versus the last price from Jul 22, 2026 of 28.40 TWD (overvalued). Cautious scenario 17.06 TWD, optimistic scenario 28.43 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Hengs Technology Co., Ltd. (4582)?
Hengs Technology Co., Ltd. reported trailing-twelve-month revenue of about 1.4B TWD (latest available figure, as of Sep 24, 2026).
Does Hengs Technology Co., Ltd. pay a dividend?
Hengs Technology Co., Ltd. currently shows a dividend yield of about 3.17% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Hengs Technology Co., Ltd. (4582)?
For today's price to be fair in a discounted-cash-flow model, Hengs Technology Co., Ltd. would have to grow free cash flow by -27.0 % per year for five years (discount rate 12.8 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -14.0 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 4582 use?
Our models discount Hengs Technology Co., Ltd. at 12.8 %: a base by market capitalisation (micro), damped by beta 0.85, country premium for Taiwan. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Hengs Technology Co., Ltd. that is -27.0 % per year a year over ten years, using the same discount rate (12.8 %) and the same formula as our fair value.
How much growth has Hengs Technology Co., Ltd. (4582) delivered so far?
Over the past 5 years revenue at Hengs Technology Co., Ltd. grew -14.0 % a year. The price currently implies -27.0 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Hengs Technology Co., Ltd. (4582) growing?
The median revenue growth in the sector is +15.2 % a year. That is the yardstick for the growth priced into Hengs Technology Co., Ltd. (-27.0 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Hengs Technology Co., Ltd. (4582)?
The free-cash-flow yield on the price is 43.02 %: that much free cash flow Hengs Technology Co., Ltd. produces per unit of market value. When it exceeds the discount rate of our models (12.8 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Hengs Technology Co., Ltd. (4582)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Hengs Technology Co., Ltd. it is 22.75 TWD per share (as of Sep 24, 2026), against a price of 28.40 TWD. It is the blended result of 23 valuation models (cash flow, earnings, asset, dividend).
Is Hengs Technology Co., Ltd. stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 4582 trades above its calculated fair value: price 28.40 TWD, fair value 22.75 TWD, a gap of about −20% (overvalued). 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 4582?
No. The price is what the market pays today (28.40 TWD); the fair value is what the company's own numbers justify (22.75 TWD). For Hengs Technology Co., Ltd. the two are 5.65 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Hengs Technology Co., Ltd. worth?
The market values Hengs Technology Co., Ltd. at about 2.4B TWD (market capitalisation, as of Sep 24, 2026). Per share that is 28.40 TWD; our models calculate a fair value of 22.75 TWD per share.
What do the bullish and bearish scenarios say about 4582?
Our models span a range for Hengs Technology Co., Ltd.: cautious scenario 17.06 TWD, base 22.75 TWD, optimistic 28.43 TWD per share (as of Sep 24, 2026, price 28.40 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 4582?
Hengs Technology Co., Ltd. trades at a price-to-earnings ratio of 18.6 (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 22.75 TWD is built from several models across several years. Other multiples: P/B 1.9, P/S 1.8, EV/EBITDA 10.3.
How solid is the balance sheet of Hengs Technology Co., Ltd. (4582)?
Balance-sheet figures for Hengs Technology Co., Ltd. (as of Sep 24, 2026): return on equity 13.0%, debt of 0.21 per unit of equity. They feed the Quality Score of 68/100, which measures business quality independently of the share price.
How far is 4582 from its 52-week high?
Hengs Technology Co., Ltd. trades at 28.40 TWD, about 34% below its 52-week high of 43.20 TWD and 67% above the low of 17.05 TWD (as of Jul 22, 2026). Distance from the high says nothing about value: that is what the fair value of 22.75 TWD is for.
Which stocks are comparable to Hengs Technology Co., Ltd.?
From the same area (Technology) we also value First Solar, Inc, Nextpower Inc, Tongwei Co, Waaree Energies 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 Hengs Technology Co., Ltd. stock attractive at the current price?
The data as of Sep 24, 2026: price 28.40 TWD, calculated fair value 22.75 TWD (−20%), Quality Score 68/100, from 23 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 4582 calculated?
We run Hengs Technology Co., Ltd. through 23 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 22.75 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 14.5 % above its aggregate fair value. Hengs Technology Co., Ltd. itself currently trades above fair value. 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 Hengs Technology Co., Ltd. (4582)?
The latest price we hold is from Jul 22, 2026 and stands at 28.40 TWD. Our model-based fair value is 22.75 TWD, about −20% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Hengs Technology Co., Ltd. right now?
Solid but not exceptional quality (68/100) and above fair value, neither a clear bargain nor a standout compounder. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
Key figures of Hengs Technology Co., Ltd.
How large is the market capitalisation of Hengs Technology Co., Ltd. (4582)?
The market capitalisation of Hengs Technology Co., Ltd. is 2.4B TWD (≈ $75.7M). 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 Hengs Technology Co., Ltd. (4582)?
The price-to-sales ratio of Hengs Technology Co., Ltd. is 1.55 (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 Hengs Technology Co., Ltd. (4582)?
Earnings per share at Hengs Technology Co., Ltd. are 1.53 TWD (price ÷ EPS = P/E 18.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Hengs Technology Co., Ltd. (4582)?
The dividend yield of Hengs Technology Co., Ltd. is 3.2% (payout 58.8%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Hengs Technology Co., Ltd. (4582)?
The net margin of Hengs Technology Co., Ltd. is 8.4% (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 Hengs Technology Co., Ltd. (4582)?
The return on equity (ROE) of Hengs Technology Co., Ltd. is 13.0% (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 Hengs Technology Co., Ltd. (4582)?
On an EBIT basis the return on assets of Hengs Technology Co., Ltd. is 1.8% (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 Hengs Technology Co., Ltd. (4582)?
The operating margin of Hengs Technology Co., Ltd. is 12.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Hengs Technology Co., Ltd. (4582)?
Revenue at Hengs Technology Co., Ltd. is growing +116% versus a year earlier (3y avg −30.4%). 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 Hengs Technology Co., Ltd. (4582)?
Earnings per share at Hengs Technology Co., Ltd. are growing +77.4% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Hengs Technology Co., Ltd. (4582) carry?
The net debt of Hengs Technology Co., Ltd. is 639M TWD (fiscal year 2024, ≈ 0.8 yrs of FCF). 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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