Coremax Corp (4739) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Coremax Corp TWD 26.13, price TWD 79.50, upside -67.1%, quality 50 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Coremax Corporation engages in the research, development, manufacture, and marketing of metal-based specialty chemicals and battery materials in Taiwan.
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Coremax Corporation engages in the research, development, manufacture, and marketing of metal-based specialty chemicals and battery materials in Taiwan. The company provides catalysts in liquid form, including prime cobalt acetate, manganese acetate, cobalt manganese acetate, cobalt manganese bromide, cobalt bromide, manganese bromide, and regenerated cobalt manganese bromide solutions; and in crystalline forms, such as cobalt acetate and manganese acetate. It also offers specialty chemicals and battery materials comprising cobalt hydroxide, cobalt and manganese acetate, cobalt oxide, electronic and industrial grade sulfuric acid, ITO etching, Cr etching, nickel sulfate, oxalic acid, and tin (II) chloride dihydrate products used in tires, pigments, paints, electronic and battery, and traditional industries; and chemical and organic compound fertilizers for the use in agricultural industry. The company was formerly known as Coremax Taiwan Corporation and changed its name to Coremax Corporation in 2000. Coremax Corporation was incorporated in 1992 and is based in Hsinchu City, Taiwan.
Stock analysis
Coremax Corp (4739) currently trades at 79.50 TWD, while our model-based Fair Value estimate is 26.13 TWD, implying the stock looks roughly 204.2% overvalued today.
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Valuation
Bull case: the Economic Profit group reads highest at a median of 33.31 TWD per share, and 0 of the 16 models we run sit above the 79.50 TWD price.
Bear case: the Dividend Discount group reads lowest at 14.47 TWD, and 16 of the 16 models stay below the price. Evidence for this calculation is medium.
Scenario range: 18.85 TWD (bear) to 31.42 TWD (bull), the price of 79.50 TWD sits above 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 50/100 (solid quality), in the Basic Materials sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Coremax Corp reported revenue of 6.2B TWD in FY2025 versus 7.3B TWD in FY2021, a compound −4.2%/yr. Reported net income was 184M TWD in FY2025, compounding −20.6%/yr from FY2021.
Key figures
Market cap 10.6B TWD (≈ $332M) · P/E ratio 56.4 · P/S ratio 1.68 · EPS (TTM) 1.41 TWD · Dividend yield 1.3% · Net margin 3.0% · Return on equity 6.6% · Return on assets (EBIT) 3.0%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 39 out of 100 (low confidence).
What moves the price
The share trades about 38% below its 52-week high and 28% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at −48% fair-value upside, at −67%, 4739 screens richer than that median.
Fair Value models
Bear 18.85 TWDFair Value 26.13 TWDBull 31.42 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 (0.2999 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.32/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+51.2%
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.
−12.0%
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.
+3.2%
Start year 2020 (pandemic). Over 10 years: +4.7% a year
Revenue growth 18 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.
+7.4%
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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.
+3.2%
Earnings growth per share plus dividend.
Earnings per share, growth per year+1.9%
Dividend (yield on the price)1.3%
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.2% vs −3%, picking up
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.4% → 7%
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.Specialty Chemicals · 706 stocks
Beats the industry median on 6/13 measures
A mixed picture versus its industry peers.
Valuation
Quality Score50 · Below median
Fair Value upside−67% · Bottom 25%
Profitability
Return on equity (TTM)7% · Above median
Return on assets3% · Above median
Net margin (TTM)5% · Above median
Operating margin (TTM)13% · Above median
Growth and dividend
Revenue growth125% · Top 25%
Dividend yield (TTM)1.3% · Below median
Balance sheet
Debt / equity0.31× · Above median
Valuation Multiplesvs Specialty Chemicals median · lower = cheaper
P/E (TTM)56.4× · Priciest 25%
P/B1.83× · Pricier than median
P/S (TTM)1.41× · Pricier than median
EV/EBITDA9.0× · Cheaper than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 0
FUTURE (revenue growth)100· sector 21
PAST (return on equity)27· sector 23
HEALTH (low debt)84· sector 95
DIVIDEND (yield)25· sector 29
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Coremax Corp Fair Value". https://www.fairvalue-calculator.com/stock/4739
Frequently asked questions
Is Coremax Corp (4739) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of 26.13 TWD versus a price of 79.50 TWD, about −67% upside (overvalued).
What is the fair value of 4739?
Our model-based fair value for Coremax Corp is 26.13 TWD (as of Sep 23, 2026), built from audited fundamentals. The current price: 79.50 TWD.
What is the quality score of 4739?
Coremax Corp has a Quality Score of 50/100. 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 Coremax Corp (4739)?
Our model-based price target is the fair value of 26.13 TWD (as of Sep 23, 2026) from 16 valuation models. Cautious scenario 18.85 TWD, optimistic scenario 31.42 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Coremax Corp stock forecast for 2026?
Our models put fair value at 26.13 TWD, about −67% upside versus a price of 79.50 TWD (overvalued). Cautious scenario 18.85 TWD, optimistic scenario 31.42 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Coremax Corp (4739)?
Coremax Corp reported trailing-twelve-month revenue of about 7.5B TWD (latest available figure, as of Sep 23, 2026).
Does Coremax Corp pay a dividend?
Coremax Corp currently shows a dividend yield of about 1.26% relative to its recent price (as of Sep 23, 2026).
What is the intrinsic value of Coremax Corp (4739)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Coremax Corp it is 26.13 TWD per share (as of Sep 23, 2026), against a price of 79.50 TWD. It is the blended result of 16 valuation models (cash flow, earnings, asset, dividend).
Is Coremax Corp stock overvalued or undervalued in 2026?
As of Sep 23, 2026, 4739 trades above its calculated fair value: price 79.50 TWD, fair value 26.13 TWD, a gap of about −67% (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 4739?
No. The price is what the market pays today (79.50 TWD); the fair value is what the company's own numbers justify (26.13 TWD). For Coremax Corp the two are 53.37 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Coremax Corp worth?
The market values Coremax Corp at about 10.6B TWD (market capitalisation, as of Sep 23, 2026). Per share that is 79.50 TWD; our models calculate a fair value of 26.13 TWD per share.
What do the bullish and bearish scenarios say about 4739?
Our models span a range for Coremax Corp: cautious scenario 18.85 TWD, base 26.13 TWD, optimistic 31.42 TWD per share (as of Sep 23, 2026, price 79.50 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 4739?
Coremax Corp trades at a price-to-earnings ratio of 56.4 (as of Sep 23, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 26.13 TWD is built from several models across several years. Other multiples: P/B 1.8, P/S 1.4, EV/EBITDA 9.0.
How solid is the balance sheet of Coremax Corp (4739)?
Balance-sheet figures for Coremax Corp (as of Sep 23, 2026): return on equity 6.6%, debt of 0.31 per unit of equity. They feed the Quality Score of 50/100, which measures business quality independently of the share price.
How far is 4739 from its 52-week high?
Coremax Corp trades at 79.50 TWD, about 38% below its 52-week high of 128.98 TWD and 28% above the low of 62.01 TWD (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 26.13 TWD is for.
Which stocks are comparable to Coremax Corp?
From the same area (Basic Materials) we also value Linde plc, The Sherwin-Williams Company, Ecolab Inc, Air Products and Chemicals, Inc, 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 Coremax Corp stock attractive at the current price?
The data as of Sep 23, 2026: price 79.50 TWD, calculated fair value 26.13 TWD (−67%), Quality Score 50/100, from 16 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 4739 calculated?
We run Coremax Corp through 16 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 26.13 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 14.1 % above its aggregate fair value. Coremax Corp 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 Coremax Corp (4739)?
The closing price on Sep 24, 2026 was 79.50 TWD. Our model-based fair value is 26.13 TWD, about −67% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Coremax Corp right now?
The price sits above even our optimistic bull case (31.42 TWD). The favourable scenario is already priced in. Solid but not exceptional quality (50/100) and above fair value, neither a clear bargain nor a standout compounder.
Where does the earnings growth of Coremax Corp (4739) come from?
Earnings per share at Coremax Corp grew −3.6 % a year from 2014 to 2025. Broken into its drivers: revenue per share +0.0 %, EBIT margin +4.9 %, tax rate −1.6 %, residual (interest, one-offs) −6.6 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Coremax Corp
How large is the market capitalisation of Coremax Corp (4739)?
The market capitalisation of Coremax Corp is 10.6B TWD (≈ $332M). 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 Coremax Corp (4739)?
The price-to-sales ratio of Coremax Corp is 1.68 (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 Coremax Corp (4739)?
Earnings per share at Coremax Corp are 1.41 TWD (price ÷ EPS = P/E 56.4). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Coremax Corp (4739)?
The dividend yield of Coremax Corp is 1.3% (payout 70.9%). 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 Coremax Corp (4739)?
The net margin of Coremax Corp is 3.0% (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 Coremax Corp (4739)?
The return on equity (ROE) of Coremax Corp is 6.6% (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 Coremax Corp (4739)?
On an EBIT basis the return on assets of Coremax Corp is 3.0% (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 Coremax Corp (4739)?
The operating margin of Coremax Corp is 13.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Coremax Corp (4739)?
Revenue at Coremax Corp is growing +125% versus a year earlier (3y avg −12.0%). 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 Coremax Corp (4739)?
Earnings per share at Coremax Corp are growing +346% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Coremax Corp (4739) generate?
The free cash flow of Coremax Corp is −1.5B 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 Coremax Corp (4739) carry?
The net debt of Coremax Corp is 1.3B 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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