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Cowealth Medical Holding Co Ltd (4745) Fair Value & Analysis

Healthcare · TW · Market cap 894M TWD

CM Cowealth Medical Holding Co Ltd 4745 · TWO
Price11.95 TWD
Fair Value14.26 TWD
Upside+19.3%
Quality39/100
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Strengths

Trades 16% below our fair value of 14.26 TWD
Low debt · generates free cash flow

Risks

!Weak Growth (revenue 5y −8.9 %/yr)
!Loss-making · -8.6% net margin
!Trails peers (4/11)
!Narrow moat 16/100
Weak Growth (revenue 5y −8.9 %/yr)
Loss-making · -8.6% net margin
Low debt · generates free cash flow
Trails peers (4/11)
Narrow moat 16/100
Evidence: Medium Range 14.23 TWD – 14.33 TWD Share as image

Fair value as of: Aug 13, 2026

From 8 valuation models · updated 11 days ago

Fair value updated Aug 13, 2026, revised from 14.28 TWD to 14.26 TWD (−0.1%) since Jul 23, 2026. Share price −11.2% over the past month.

Below-average quality, trading 16% below our fair value.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

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What matters now

  • The price is below even our cautious bear case (14.23 TWD). The market is more pessimistic than our downside scenario.
  • The models converge in a tight band (14.23 TWD to 14.33 TWD), unusually little disagreement for a valuation.
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Price vs Fair Value (5 years)

34.40 TWD 10.90 TWD Fair Value 14.26 TWD Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range 10.90 TWD – 34.40 TWD · fair‑value band 14.23 TWD – 14.33 TWD · the 11.95 TWD price screens below the 14.26 TWD fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Cowealth Medical Holding Co Ltd (4745) currently trades at 11.95 TWD, while our model-based Fair Value estimate is 14.26 TWD, implying the stock looks roughly 19.3% undervalued today. The Quality Score stands at 39/100 (below-average quality), in the Healthcare 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: medium), always confirm before acting.

Over the trailing twelve months, Cowealth Medical Holding Co Ltd generated revenue of 2.9B TWD at a net margin of -8.6%. Revenue declined 11.6% year over year. It earns a return on equity of -6.5%. Net debt stands at 60.9M TWD. Fundamentals as of Aug 13, 2026

Our scenario range runs from 14.23 TWD (bear case) to 14.33 TWD (bull case); at 11.95 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 56% below its 52-week high, currently below its 200-day average. For context, the median of 10 Healthcare peers we cover trades at -28% fair-value upside, at 19%, 4745 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 14.22 TWD 14.25 TWD 14.30 TWD 80
Gordon GGM 3.63 TWD 3.92 TWD 4.34 TWD 70
DDM Multi-Stage 3.63 TWD 4.33 TWD 5.22 TWD 61
All 8 models by family
DCF Models
FCF DCF 14.22 TWD 14.25 TWD 14.30 TWD 38
5Y Revenue Exit 14.22 TWD 14.27 TWD 14.34 TWD 39
10Y Revenue Exit 14.22 TWD 14.25 TWD 14.29 TWD 36
Dividend Discount
Gordon GGM 3.63 TWD 3.92 TWD 4.34 TWD 70
DDM Multi-Stage 3.63 TWD 4.33 TWD 5.22 TWD 61
Multiples
EV/Revenue 14.23 TWD 14.28 TWD 14.33 TWD 43
Asset-Based
NCAV (Graham) 21.67 TWD 29.04 TWD 43.34 TWD 50
Growth DCF
Growth DCF 14.22 TWD 14.25 TWD 14.30 TWD 80

Widest divergence: Asset-Based (29.04 TWD) versus Dividend Discount (3.92 TWD). Highest evidence: Growth DCF (80).

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Key figures & financial health

P/S ratio 0.35 TTM
Net margin -8.6% TTM
Return on equity -6.5% TTM
Return on assets -2.4% TTM
Operating margin -8.0% TTM
EPS (TTM) -3.18 TWD
More key figures
Growth
Revenue (TTM) 2.9B TWD TTM
Revenue growth (YoY) -11.6% 3y avg -19.3%
EPS growth (YoY) -80.6%
Balance sheet & cash flow
Free cash flow 836K TWD FY2025
Net debt 60.9M TWD FY2025 · ≈ 72.9 yrs of FCF

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 39/100

Of which business quality 38 · Market factors (momentum, volatility) 25

Profitability 8
Margins and returns on capital today
Quality Growth 13
Are margins and returns improving?
Cashflow 11
Earnings quality: real cash, not paper profit
Fin. Strength 48
Balance sheet, leverage, solvency risk
Investment 99
Disciplined investing over empire-building
Low Volatility 68
Calm price path (market factor)
Momentum 10
Price trend over the last 3–12 months (market factor)
52W Momentum 2
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.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Cowealth Medical Holding Co., Ltd., together with its subsidiaries, engages in trading of medical equipment, reagents, and spare parts in Taiwan, China, and Hong Kong. It operates in two segments, Sells Equipment, and Sells Reagents and Others.

Full company description

Cowealth Medical Holding Co., Ltd., together with its subsidiaries, engages in trading of medical equipment, reagents, and spare parts in Taiwan, China, and Hong Kong. It operates in two segments, Sells Equipment, and Sells Reagents and Others. The company also offers acme empowerment program, including al-assisted clinical decision support system, platform of management analysis and decision making, multi-channel coaxial-time-audio-video-image digital platform for operating rooms, and cross-trait medical resource platform. In addition, it provides equipment comprising CyberKnife Stereotactic Radiosurgery System, a non-invasive treatment alternative for cancerous and non-cancerous tumors, as well as other medical conditions requiring radiation therapy; LipiView Ocular Surface Interferometer and LipiView Thermal Pulsation System, a system designed to diagnose and address meibomian gland dysfunction; and MRIdian-Linac, an MRI-guided radiation therapy system. Further, the company is involved in general investing; import and export medical equipment, reagents, and spare parts; nutrition, health, and social and economic consulting business; software development, IT equipment maintenance, and IT system maintenance service; and hospital and business management. Cowealth Medical Holding Co., Ltd. was founded in 1997 and is based in George Town, Cayman Islands.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Cowealth Medical Holding Co Ltd reported revenue of 3.0B TWD in FY2025 versus 5.1B TWD in FY2021, a compound −12.9%/yr. Reported net income was −247M TWD in FY2025.

Growth Quality 18/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
3.0B TWD
Latest YoY
−29.5%
Avg. revenue 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.
−19.3%
Avg. revenue 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.
−8.9%
Avg. revenue growth/yr (8Y) 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.
−0.3%
Value creation/yr We only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed
Revenue −12.9%/yr
FY21 5.1B TWD
FY22 5.6B TWD
FY23 4.8B TWD
FY24 4.2B TWD
FY25 3.0B TWD
Net income
FY21 139M TWD
FY22 94.1M TWD
FY23 55.7M TWD
FY24 629K TWD
FY25 −247M TWD

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Cite: Fair Value Calculator (2026). "Cowealth Medical Holding Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/4745

Peer Group

Medical Devices · 362 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 39 · Below median
Fair Value upside +19% · Top 25%
Return on assets -2% · Below median
Net margin (TTM) -9% · Below median
Operating margin (TTM) -8% · Below median
Revenue growth -12% · Bottom 25%
Dividend yield (TTM) 3.1% · Above median
Debt / equity 0.00× · Lower than median

Valuation Multiples vs Medical Devices median · lower = cheaper

P/S (TTM) 0.01× · Cheaper than 75% of peers
P/FCF 33.6× · Pricier 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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE59 · sector 0
FUTURE0 · sector 31
PAST0 · sector 5
HEALTH100 · sector 97
DIVIDEND62 · sector 34

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

Similar stocks

10 more Medical Devices stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Abbott Laboratories, ABT $110.91 $74.79 -33%
Stryker Corporation SYK $327.70 $186.28 -43%
Medtronic plc MDT $90.76 $65.57 -28%
Boston Scientific Corporation BSX $50.37 $38.44 -24%
Edwards Lifesciences Corporation EW $93.05 $41.02 -56%
Siemens Healthineers AG SHL €39.04 €33.87 -13%
DexCom, Inc DXCM $90.80 $38.95 -57%
GE HealthCare Technologies Inc GEHC $74.82 $64.13 -14%
Koninklijke Philips N.V PHIA €23.69 €14.36 -39%
Shenzhen Mindray Bio-Medical Electronics Co 300760 ¥150.63 ¥147.63 -2%

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Frequently asked questions

Is Cowealth Medical Holding Co Ltd (4745) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of 14.26 TWD versus a price of 11.95 TWD, about +19% (undervalued).
What is the fair value of 4745?
Our model-based fair value for Cowealth Medical Holding Co Ltd is 14.26 TWD (as of Aug 13, 2026), built from audited fundamentals. The current price: 11.95 TWD.
What is the quality score of 4745?
Cowealth Medical Holding Co Ltd has a Quality Score of 39/100. 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 Cowealth Medical Holding Co Ltd (4745)?
Cowealth Medical Holding Co Ltd reported trailing-twelve-month revenue of about 2.9B TWD (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 4745?
The net profit margin of Cowealth Medical Holding Co Ltd is about -8.6%, meaning it is currently running at a net loss. Based on the latest reported figures.

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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