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Johnson Chemical Pharmaceutical Works Co (4747) Fair Value & Analysis

Healthcare · TW · Market cap 4.4B TWD

JC Johnson Chemical Pharmaceutical Works Co 4747 · TWO
Price54.10 TWD
Fair Value12.95 TWD
Upside-76.1%
Quality40/100
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Expensive Growth
Solidly profitable · 17.3% net margin
Low debt · generates free cash flow
2.13% dividend yield
Trails peers (4/14)
Narrow moat 39/100
Evidence: High Range 9.71 TWD – 16.18 TWD Share as image

Fair value as of: Jul 21, 2026

From 25 valuation models · updated 20 days ago

Fair value updated Jul 21, 2026, revised from 25.89 TWD to 12.95 TWD (−50.0%) since Jul 11, 2026. Share price +8.2% over the past month.

Below-average quality, and screening another 76% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (16.18 TWD). The favourable scenario is already priced in.
  • Weak quality (40/100) and above fair value at the same time, the margin of safety is missing on both counts.
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Price vs Fair Value (5 years)

110.01 TWD 24.75 TWD Fair Value 12.95 TWD Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 21, 2026.

How to read this chart

60‑month range 24.75 TWD – 110.01 TWD · fair‑value band 9.71 TWD – 16.18 TWD · the 54.10 TWD price screens above the 12.95 TWD fair value. Dashed = 300-day average. As of Jul 21, 2026.

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Analysis

Johnson Chemical Pharmaceutical Works Co (4747) currently trades at 54.10 TWD, while our model-based Fair Value estimate is 12.95 TWD, implying the stock looks roughly 76.1% overvalued today. The Quality Score stands at 40/100 (below-average quality), in the Healthcare 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, Johnson Chemical Pharmaceutical Works Co generated revenue of 570M TWD at a net margin of 17.3%. Revenue declined 0.1% year over year. It earns a return on equity of 5.6%. The stock trades on a trailing P/E of 45.5. Fundamentals as of Jul 21, 2026

Our scenario range runs from 9.71 TWD (bear case) to 16.18 TWD (bull case); at 54.10 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 33% below its 52-week high and 7% above its 52-week low, currently below its 200-day average. For context, the median of 10 Healthcare peers we cover trades at -49% fair-value upside, at -76%, 4747 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 12.44 TWD 12.79 TWD 13.27 TWD 80
Residual Income 13.59 TWD 13.37 TWD 11.38 TWD 76
Rev-Margin DCF 16.20 TWD 19.68 TWD 23.44 TWD 74
All 25 models by family
DCF Models
FCF DCF 12.42 TWD 12.81 TWD 13.37 TWD 38
Owner Earnings 12.66 TWD 13.17 TWD 13.88 TWD 31
5Y Revenue Exit 16.20 TWD 19.75 TWD 24.27 TWD 39
5Y EBITDA Exit 17.84 TWD 22.71 TWD 28.31 TWD 41
5Y P/E Exit 17.24 TWD 21.62 TWD 26.12 TWD 38
10Y Revenue Exit 14.53 TWD 17.38 TWD 21.15 TWD 36
10Y EBITDA Exit 15.74 TWD 19.35 TWD 24.07 TWD 37
10Y P/E Exit 15.37 TWD 18.63 TWD 22.49 TWD 35
Earnings-Based
Graham-Dodd 4.00 TWD 10.50 TWD 13.70 TWD 54
PEG = 1.0 2.01 TWD 2.87 TWD 3.73 TWD 46
EPV 17.18 TWD 18.08 TWD 18.84 TWD 59
Dividend Discount
Gordon GGM 7.60 TWD 14.80 TWD 22.92 TWD 70
DDM Multi-Stage 7.60 TWD 11.51 TWD 15.53 TWD 61
Multiples
P/E Multiple 9.71 TWD 12.95 TWD 16.18 TWD 63
P/S Multiple 7.50 TWD 10.00 TWD 12.51 TWD 58
P/B Multiple 7.50 TWD 10.00 TWD 12.51 TWD 55
EV/EBIT 21.79 TWD 25.21 TWD 28.63 TWD 53
EV/EBITDA 22.33 TWD 25.93 TWD 29.53 TWD 54
EV/Revenue 18.86 TWD 22.00 TWD 25.13 TWD 43
Asset-Based
NCAV (Graham) 9.40 TWD 12.60 TWD 18.80 TWD 50
Growth DCF
Growth DCF 12.44 TWD 12.79 TWD 13.27 TWD 80
Rev-Margin DCF 16.20 TWD 19.68 TWD 23.44 TWD 74
Economic Profit
Residual Income 13.59 TWD 13.37 TWD 11.38 TWD 76
ROIC Compounder 17.18 TWD 18.08 TWD 18.88 TWD 72
Growth Earnings
Growth-Adj P/E 7.56 TWD 10.80 TWD 14.05 TWD 68

Widest divergence: DCF Models (18.63 TWD) versus Earnings-Based (10.50 TWD). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 570M TWD
Revenue growth (YoY) -0.1%
Net margin 17.3%
Return on equity 5.6%
Free cash flow 7.7M TWD FY2025
P/E ratio 41.0
More key figures
Operating margin 10.0%
EPS (TTM) 1.19 TWD
Dividend yield 2.1%
EPS growth (YoY) +201%

Figures from reported company fundamentals · as of Jul 21, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 40/100

Of which business quality 44 · Market factors (momentum, volatility) 46

Profitability 26
Margins and returns on capital today
Quality Growth 42
Are margins and returns improving?
Cashflow 32
Earnings quality: real cash, not paper profit
Fin. Strength 99
Balance sheet, leverage, solvency risk
Investment 16
Disciplined investing over empire-building
Low Volatility 89
Calm price path (market factor)
Momentum 30
Price trend over the last 3–12 months (market factor)
52W Momentum 23
Distance to the 52-week high (market factor)
Net Issuance 35
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

Johnson Chemical Pharmaceutical Works Co., Ltd. manufactures, imports, and sells pharmaceutical ingredients, materials and products in Taiwan. The company manufactures drugs in a variety of forms, such as solid dosage form, capsule, tablet, and powder and granule, as well as nasal spray forms.

Full company description

Johnson Chemical Pharmaceutical Works Co., Ltd. manufactures, imports, and sells pharmaceutical ingredients, materials and products in Taiwan. The company manufactures drugs in a variety of forms, such as solid dosage form, capsule, tablet, and powder and granule, as well as nasal spray forms. It offers its products in various therapeutic areas, including central nervous system, respiratory, cardiovascular, gastrointestinal, endocrine system, vitamins, anti-inflammatory, cough and cold, pain reliever, etc. The company was founded in 1959 and is based in New Taipei City, Taiwan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Johnson Chemical Pharmaceutical Works Co reported revenue of 570M TWD in FY2025 versus 411M TWD in FY2021, a compound +8.5%/yr. Reported net income was 53.5M TWD in FY2025, compounding +2.2%/yr from FY2021.

Growth Quality 50/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
570M TWD
Latest YoY
−6.8%
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.
+4.8%
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.
+6.1%
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.
+7.6%
Revenue +8.5%/yr
FY21 411M TWD
FY22 495M TWD
FY23 607M TWD
FY24 611M TWD
FY25 570M TWD
Net income +2.2%/yr
FY21 49.1M TWD
FY22 64.9M TWD
FY23 79.7M TWD
FY24 84.1M TWD
FY25 53.5M TWD

4747 screens 76% overvalued. Compare with Jiangsu Hengrui Pharmaceuticals Co →

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Cite: Fair Value Calculator (2026). "Johnson Chemical Pharmaceutical Works Co Fair Value". https://www.fairvalue-calculator.com/stock/4747

Peer Group

Drug Manufacturers - Specialty & Generic · 623 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 40 · Bottom 25%
Fair Value upside −76% · Bottom 25%
Return on equity (TTM) 6% · Below median
Return on assets 2% · Below median
Net margin (TTM) 17% · Top 25%
Operating margin (TTM) 10% · Above median
Revenue growth -0% · Below median
Dividend yield (TTM) 2.1% · Above median

Valuation Multiples vs Drug Manufacturers - Specialty & Generic median · lower = cheaper

P/E (TTM) 41.0× · Pricier than median
P/B 2.60× · Pricier than median
P/S (TTM) 7.79× · Pricier than 75% of peers
P/FCF 18.0× · Pricier than 75% of peers
EV/EBITDA 40.6× · 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.

VALUE 0 · sector 6
FUTURE 0 · sector 20
PAST 22 · sector 24
HEALTH 100 · sector 97
DIVIDEND 43 · sector 34

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 Drug Manufacturers - Specialty & Generic stocks, each showing price versus our Fair Value estimate (as of Jul 21, 2026).

Stock Price Fair Value vs Fair Value
Jiangsu Hengrui Pharmaceuticals Co 600276 ¥53.19 ¥25.94 -51%
Sun Pharmaceutical Industries Limited SUNPHARMA ₹1,933 ₹989.50 -49%
Divi's Laboratories Limited DIVISLAB ₹7,316 ₹1,943 -73%
Torrent Pharmaceuticals Limited TORNTPHARM ₹4,763 ₹1,329 -72%
PharmaEssentia Corporation 6446 1,285 TWD 221.01 TWD -83%
Cipla Limited CIPLA ₹1,439 ₹1,001 -30%
Zydus Lifesciences Limited ZYDUSLIFE ₹1,151 ₹703.32 -39%
Lupin Limited LUPIN ₹2,443 ₹2,477 +1%
Mankind Pharma Limited MANKIND ₹2,484 ₹983.11 -60%
Dr. Reddy's Laboratories Limited DRREDDY ₹1,211 ₹874.79 -28%

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Frequently asked questions

Is Johnson Chemical Pharmaceutical Works Co (4747) overvalued or undervalued?
As of Jul 21, 2026, our model estimates a fair value of 12.95 TWD versus a price of 54.10 TWD, about −76% (overvalued).
What is the fair value of 4747?
Our model-based fair value for Johnson Chemical Pharmaceutical Works Co is 12.95 TWD (as of Jul 21, 2026), built from audited fundamentals. The current price is 54.10 TWD.
What is the quality score of 4747?
Johnson Chemical Pharmaceutical Works Co has a Quality Score of 40/100. 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 Johnson Chemical Pharmaceutical Works Co (4747)?
Johnson Chemical Pharmaceutical Works Co reported trailing-twelve-month revenue of about 570M TWD (latest available figure, as of Jul 21, 2026).
What is the net profit margin of 4747?
The net profit margin of Johnson Chemical Pharmaceutical Works Co is about 17.3%, meaning it keeps roughly 17.3% of revenue as net income. Based on the latest reported figures.
Does Johnson Chemical Pharmaceutical Works Co pay a dividend?
Johnson Chemical Pharmaceutical Works Co currently shows a dividend yield of about 1.96% relative to its recent price (as of Jul 21, 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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