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Tex Year Industries Inc (4720) Fair Value & Analysis

Basic Materials · TW · Market cap 2.3B TWD

TY Tex Year Industries Inc 4720 · TW
Price19.90 TWD
Fair Value12.64 TWD
Upside-36.5%
Quality46/100
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Expensive Growth
Thin margins · 1.9% net margin
Low debt · negative free cash flow
1.96% dividend yield
Trails peers (4/13)
Narrow moat 30/100
Evidence: Medium Range 9.48 TWD – 15.80 TWD Share as image

Fair value as of: Jul 23, 2026

From 15 valuation models · updated 18 days ago

Share price −15.5% over the past month.

Below-average quality, and screening another 36% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (15.80 TWD). The favourable scenario is already priced in.
  • Solid but not exceptional quality (46/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

29.70 TWD 12.28 TWD Fair Value 12.64 TWD Mar 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 12.28 TWD – 29.70 TWD · fair‑value band 9.48 TWD – 15.80 TWD · the 19.90 TWD price screens above the 12.64 TWD fair value. Dashed = 300-day average. As of Jul 23, 2026.

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Analysis

Tex Year Industries Inc (4720) currently trades at 19.90 TWD, while our model-based Fair Value estimate is 12.64 TWD, implying the stock looks roughly 36.5% overvalued today. The Quality Score stands at 46/100 (below-average quality), in the Basic Materials 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: medium).

Over the trailing twelve months, Tex Year Industries Inc generated revenue of 3.6B TWD at a net margin of 1.9%. Revenue grew 2.8% year over year. It earns a return on equity of 4.0%. Net debt stands at 499M TWD. Fundamentals as of Jul 23, 2026

Our scenario range runs from 9.48 TWD (bear case) to 15.80 TWD (bull case); at 19.90 TWD, the current price sits above 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 34% below its 52-week high and 51% above its 52-week low, currently above its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -58% fair-value upside, at -36%, 4720 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 10.91 TWD 11.17 TWD 10.80 TWD 76
ROIC Compounder 8.10 TWD 9.01 TWD 9.79 TWD 72
Gordon GGM 8.78 TWD 13.29 TWD 17.96 TWD 70
All 15 models by family
Earnings-Based
Graham-Dodd 5.06 TWD 10.88 TWD 13.82 TWD 54
PEG = 1.0 1.68 TWD 2.40 TWD 3.12 TWD 46
EPV 8.10 TWD 9.01 TWD 9.79 TWD 59
Dividend Discount
Gordon GGM 8.78 TWD 13.29 TWD 17.96 TWD 70
DDM Multi-Stage 8.78 TWD 12.43 TWD 16.41 TWD 61
Multiples
P/E Multiple 9.48 TWD 12.64 TWD 15.80 TWD 63
P/S Multiple 9.48 TWD 12.64 TWD 15.80 TWD 58
P/B Multiple 9.48 TWD 12.64 TWD 15.80 TWD 55
EV/EBIT 13.48 TWD 17.19 TWD 20.90 TWD 53
EV/EBITDA 17.43 TWD 22.45 TWD 27.48 TWD 54
EV/Revenue 11.99 TWD 16.13 TWD 20.26 TWD 43
Asset-Based
NCAV (Graham) 7.10 TWD 9.51 TWD 14.20 TWD 50
Economic Profit
Residual Income 10.91 TWD 11.17 TWD 10.80 TWD 76
ROIC Compounder 8.10 TWD 9.01 TWD 9.79 TWD 72
Growth Earnings
Growth-Adj P/E 7.10 TWD 10.14 TWD 13.18 TWD 68

Widest divergence: Multiples (12.64 TWD) versus Earnings-Based (9.01 TWD). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 3.6B TWD
Revenue growth (YoY) +2.8%
Net margin 1.9%
Return on equity 4.0%
Free cash flow −274M TWD FY2025
P/E ratio 32.1
More key figures
Operating margin 3.7%
EPS (TTM) 0.7400 TWD
Dividend yield 1.7%
EPS growth (YoY) -39.6%
Net debt 499M TWD FY2025

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

Quality Score breakdown

Overall quality 46/100

Of which business quality 47 · Market factors (momentum, volatility) 54

Profitability 40
Margins and returns on capital today
Quality Growth 18
Are margins and returns improving?
Cashflow 27
Earnings quality: real cash, not paper profit
Fin. Strength 59
Balance sheet, leverage, solvency risk
Investment 67
Disciplined investing over empire-building
Low Volatility 55
Calm price path (market factor)
Momentum 54
Price trend over the last 3–12 months (market factor)
52W Momentum 55
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

Tex Year Industries Inc., together with its subsidiaries, manufactures and trades in glues, adhesives, hot-melt glues, and medical equipment in Taiwan, Mainland China, Asia, Europe, America, and internationally.

Full company description

Tex Year Industries Inc., together with its subsidiaries, manufactures and trades in glues, adhesives, hot-melt glues, and medical equipment in Taiwan, Mainland China, Asia, Europe, America, and internationally. The company offers hot melt adhesives under the Tex Year brand; super glue under the 3 SECONDS brand; high-temperature and high-pressure medical autoclaves; and after-sales, and repair and maintenance services. It also provides specialty chemicals, such as HumiSeal, a circuit board moisture coating/conformal coating; Denka HARDLOC, a structural adhesive; and release agents/mold release agents, and special and water-based adhesives. In addition, the company offers dental supplies, including medical/dental detergents, and sterilization pouches; large and small vibrating equipment under the SINFONIA brand; home appliance pleatable synthetic HEPA filter media and medium-high efficiency automotive cabin filter media products; water-based pressure sensitive adhesives; and UV curing and TOYOBO ITO conductive films. Further, it engages in investment and trading; development, production, and sale of biodegradable materials and products; and rental of self-owned houses. Tex Year Industries Inc. was founded in 1976 and is headquartered in New Taipei City, Taiwan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Tex Year Industries Inc reported revenue of 3.6B TWD in FY2025 versus 3.6B TWD in FY2021, a compound +0.3%/yr. Reported net income was 85.1M TWD in FY2025, compounding +31.0%/yr from FY2021.

Growth Quality 25/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
3.6B TWD
Latest YoY
−2.3%
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.
−0.6%
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.
+2.6%
Avg. growth/yr (16Y) 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.
+4.8%
Revenue +0.3%/yr
FY21 3.6B TWD
FY22 3.7B TWD
FY23 3.3B TWD
FY24 3.7B TWD
FY25 3.6B TWD
Net income +31.0%/yr
FY21 28.9M TWD
FY22 20.2M TWD
FY23 76.5M TWD
FY24 161M TWD
FY25 85.1M TWD
Character of growth · EPS growth decomposed (2014-2025) −0.9 % p.a.
Revenue per share +0.8 pp

of which total revenue +4.1 pp · buybacks/dilution −3.3 pp

EBIT margin −2.1 pp
Tax rate −0.5 pp
Residual (interest, one-offs) +0.8 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

4720 screens 36% overvalued. Compare with Linde plc →

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Cite: Fair Value Calculator (2026). "Tex Year Industries Inc Fair Value". https://www.fairvalue-calculator.com/stock/4720

Peer Group

Specialty Chemicals · 673 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 46 · Below median
Fair Value upside −37% · Below median
Return on equity (TTM) 4% · Below median
Return on assets 2% · Below median
Net margin (TTM) 2% · Below median
Operating margin (TTM) 4% · Below median
Revenue growth 3% · Below median
Dividend yield (TTM) 2.0% · Above median
Debt / equity 0.19× · Higher than median

Valuation Multiples vs Specialty Chemicals median · lower = cheaper

P/E (TTM) 27.2× · Pricier than median
P/B 1.42× · Cheaper than median
P/S (TTM) 0.64× · Cheaper than median
EV/EBITDA 9.9× · 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 0 · sector 0
FUTURE 14 · sector 19
PAST 16 · sector 23
HEALTH 91 · sector 95
DIVIDEND 39 · sector 25

VALUE 0: the price sits above our fair-value range.

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

Stock Price Fair Value vs Fair Value
Linde plc LIN $489.98 $222.03 -55%
Nan Ya Plastics Corporation 1303 181.50 TWD 255.83 TWD +41%
Wanhua Chemical Group 600309 ¥70.04 ¥68.03 -3%
Novozymes A/S NSISB kr 428.20 kr 179.66 -58%
Asian Paints Limited ASIANPAINT ₹2,689 ₹668.81 -75%
Solar Industries India Limited SOLARINDS ₹18,236 ₹2,793 -85%
Pidilite Industries Limited PIDILITIND ₹1,560 ₹351.84 -77%
PT Chandra Asri Pacific Tbk TPIA 1,805 IDR 2,888 IDR +60%
Linde India Limited LINDEINDIA ₹7,115 ₹757.93 -89%
Berger Paints India Limited BERGEPAINT ₹493.70 ₹164.29 -67%

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Frequently asked questions

Is Tex Year Industries Inc (4720) overvalued or undervalued?
As of Jul 23, 2026, our model estimates a fair value of 12.64 TWD versus a price of 19.90 TWD, about −36% (overvalued).
What is the fair value of 4720?
Our model-based fair value for Tex Year Industries Inc is 12.64 TWD (as of Jul 23, 2026), built from audited fundamentals. The current price is 19.90 TWD.
What is the quality score of 4720?
Tex Year Industries Inc has a Quality Score of 46/100. 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 Tex Year Industries Inc (4720)?
Tex Year Industries Inc reported trailing-twelve-month revenue of about 3.6B TWD (latest available figure, as of Jul 23, 2026).
What is the net profit margin of 4720?
The net profit margin of Tex Year Industries Inc is about 1.9%, meaning it keeps roughly 1.9% of revenue as net income. Based on the latest reported figures.
Does Tex Year Industries Inc pay a dividend?
Tex Year Industries Inc currently shows a dividend yield of about 1.71% 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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