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Jinan Acetate Chemical Co (4763) Fair Value & Analysis

Basic Materials · TW · Market cap 50.2B TWD

JA Jinan Acetate Chemical Co 4763 · TW
Price49.90 TWD
Fair Value24.55 TWD
Upside-50.8%
Quality51/100
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Mixed Growth
Highly profitable · 43.4% net margin
Low debt · generates free cash flow
6.97% dividend yield
Ranks above peers (9/14)
Wide moat 89/100
Evidence: High Range 19.05 TWD – 46.51 TWD Share as image

Fair value as of: Jul 21, 2026

From 26 valuation models · updated 19 days ago

Share price +2.0% over the past month.

A solid business, but screening 51% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (46.51 TWD). The favourable scenario is already priced in.
  • Solid but not exceptional quality (51/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range (19.05 TWD to 46.51 TWD) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

1,235 TWD 40.30 TWD Fair Value 24.55 TWD Mar 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 40.30 TWD – 1,235 TWD · fair‑value band 19.05 TWD – 46.51 TWD · the 49.90 TWD price screens above the 24.55 TWD fair value. Dashed = 300-day average. As of Jul 21, 2026.

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Analysis

Jinan Acetate Chemical Co (4763) currently trades at 49.90 TWD, while our model-based Fair Value estimate is 24.55 TWD, implying the stock looks roughly 50.8% overvalued today. The Quality Score stands at 51/100 (solid 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: high).

Over the trailing twelve months, Jinan Acetate Chemical Co generated revenue of 11.8B TWD at a net margin of 43.4%. Revenue declined 34.7% year over year. It earns a return on equity of 25.3%. The balance sheet holds a net cash position of 8.5B TWD. Fundamentals as of Jul 21, 2026

Our scenario range runs from 19.05 TWD (bear case) to 46.51 TWD (bull case); at 49.90 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. For context, the median of 10 Basic Materials peers we cover trades at -58% fair-value upside, at -51%, 4763 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 BearBaseBull Evidence
Highest evidence
Growth DCF 59.88 TWD 103.98 TWD 193.13 TWD 80
Residual Income 36.75 TWD 43.58 TWD 146.48 TWD 76
Rev-Margin DCF 35.39 TWD 55.09 TWD 92.65 TWD 74
All 26 models by family
DCF Models
FCF DCF 63.12 TWD 94.39 TWD 193.95 TWD 38
Owner Earnings 102.61 TWD 222.53 TWD 474.28 TWD 31
5Y Revenue Exit 34.89 TWD 49.17 TWD 78.64 TWD 39
5Y EBITDA Exit 65.39 TWD 110.84 TWD 200.03 TWD 41
5Y P/E Exit 82.42 TWD 180.36 TWD 314.99 TWD 38
10Y Revenue Exit 42.91 TWD 72.47 TWD 87.67 TWD 36
10Y EBITDA Exit 65.80 TWD 138.14 TWD 264.94 TWD 37
10Y P/E Exit 78.23 TWD 174.81 TWD 336.30 TWD 35
Earnings-Based
Graham-Dodd 41.59 TWD 290.04 TWD 407.03 TWD 54
Lynch FV 114.48 TWD 163.55 TWD 212.61 TWD 50
PEG = 1.0 114.48 TWD 163.55 TWD 212.61 TWD 46
EPV 62.98 TWD 72.05 TWD 79.98 TWD 59
Dividend Discount
Gordon GGM 43.69 TWD 90.83 TWD 144.10 TWD 70
DDM Multi-Stage 43.69 TWD 76.59 TWD 95.33 TWD 61
Multiples
P/E Multiple 77.98 TWD 103.97 TWD 129.97 TWD 63
P/S Multiple 15.05 TWD 20.06 TWD 25.08 TWD 58
P/B Multiple 45.27 TWD 60.36 TWD 75.45 TWD 55
EV/EBIT 82.32 TWD 106.89 TWD 131.47 TWD 53
EV/EBITDA 64.03 TWD 82.51 TWD 100.98 TWD 54
EV/Revenue 22.65 TWD 28.67 TWD 34.69 TWD 43
Asset-Based
NCAV (Graham) 10.06 TWD 13.48 TWD 20.12 TWD 50
Growth DCF
Growth DCF 59.88 TWD 103.98 TWD 193.13 TWD 80
Rev-Margin DCF 35.39 TWD 55.09 TWD 92.65 TWD 74
Economic Profit
Residual Income 36.75 TWD 43.58 TWD 146.48 TWD 76
ROIC Compounder 75.12 TWD 101.83 TWD 137.36 TWD 72
Growth Earnings
Growth-Adj P/E 133.98 TWD 191.40 TWD 248.82 TWD 68

Widest divergence: Growth Earnings (191.40 TWD) versus Asset-Based (13.48 TWD). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 11.8B TWD
Revenue growth (YoY) -34.7%
Net margin 43.4%
Return on equity 25.3%
Free cash flow 3.2B TWD FY2025
P/E ratio 8.3
More key figures
Operating margin 49.6%
EPS (TTM) 6.09 TWD
Dividend yield 7.0%
EPS growth (YoY) -45.0%
Net cash 8.5B TWD FY2025

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

Quality Score breakdown

Overall quality 51/100

Of which business quality 55 · Market factors (momentum, volatility) 35

Profitability 81
Margins and returns on capital today
Quality Growth 1
Are margins and returns improving?
Cashflow 71
Earnings quality: real cash, not paper profit
Fin. Strength 100
Balance sheet, leverage, solvency risk
Investment 30
Disciplined investing over empire-building
Low Volatility 57
Calm price path (market factor)
Momentum 35
Price trend over the last 3–12 months (market factor)
52W Momentum 11
Distance to the 52-week high (market factor)
Net Issuance 0
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

Jinan Acetate Chemical Co., Ltd., together with its subsidiaries, engages in the research and development, production, and sale of cellulose acetate, acetate tows, acetic anhydride, diacetate fiber filament, diacetate fiber tow, and other related products in Asia, Europe, America, and Africa. The company also engages in investment activities.

Full company description

Jinan Acetate Chemical Co., Ltd., together with its subsidiaries, engages in the research and development, production, and sale of cellulose acetate, acetate tows, acetic anhydride, diacetate fiber filament, diacetate fiber tow, and other related products in Asia, Europe, America, and Africa. The company also engages in investment activities. Its products are used in cigarette filters, fountain pen refills, and absorbent layers for diapers and masks. Jinan Acetate Chemical Co., Ltd. was founded in 1999 and is based in Grand Cayman, the Cayman Islands.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Jinan Acetate Chemical Co reported revenue of 13.2B TWD in FY2025 versus 2.7B TWD in FY2021, a compound +48.6%/yr. Reported net income was 6.0B TWD in FY2025, compounding +102.8%/yr from FY2021.

Growth Quality 85/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
13.2B TWD
Latest YoY
−15.8%
Avg. growth/yr (3Y)
+45.8%
Avg. growth/yr (5Y)
+41.2%
Avg. growth/yr (13Y)
+28.0%
Revenue +48.6%/yr
FY21 2.7B TWD
FY22 4.3B TWD
FY23 11.0B TWD
FY24 15.7B TWD
FY25 13.2B TWD
Net income +102.8%/yr
FY21 358M TWD
FY22 1.2B TWD
FY23 5.2B TWD
FY24 8.3B TWD
FY25 6.0B TWD

4763 screens 51% overvalued. Compare with Linde plc →

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Cite: Fair Value Calculator (2026). "Jinan Acetate Chemical Co Fair Value". https://www.fairvalue-calculator.com/stock/4763

Peer Group

Specialty Chemicals · 676 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 51 · Below median
Fair Value upside −51% · Below median
Return on equity (TTM) 25% · Top 25%
Return on assets 17% · Top 25%
Net margin (TTM) 43% · Top 25%
Operating margin (TTM) 50% · Top 25%
Revenue growth -35% · Bottom 25%
Dividend yield (TTM) 7.0% · Top 25%

Valuation Multiples vs Specialty Chemicals median · lower = cheaper

P/E (TTM) 8.3× · Cheaper than 75% of peers
P/B 2.52× · Pricier than median
P/S (TTM) 4.26× · Pricier than 75% of peers
P/FCF 0.5× · Cheaper than median
EV/EBITDA 6.4× · Cheaper 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 0
FUTURE 0 · sector 19
PAST 100 · sector 23
HEALTH 100 · sector 95
DIVIDEND 100 · sector 25

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

Insider activity: 45/100

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 21, 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 Jinan Acetate Chemical Co (4763) overvalued or undervalued?
As of Jul 21, 2026, our model estimates a fair value of 24.55 TWD versus a price of 49.90 TWD, about −51% (overvalued).
What is the fair value of 4763?
Our model-based fair value for Jinan Acetate Chemical Co is 24.55 TWD (as of Jul 21, 2026), built from audited fundamentals. The current price is 49.90 TWD.
What is the quality score of 4763?
Jinan Acetate Chemical Co has a Quality Score of 51/100. 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 Jinan Acetate Chemical Co (4763)?
Jinan Acetate Chemical Co reported trailing-twelve-month revenue of about 11.8B TWD (latest available figure, as of Jul 21, 2026).
What is the net profit margin of 4763?
The net profit margin of Jinan Acetate Chemical Co is about 43.4%, meaning it keeps roughly 43.4% of revenue as net income. Based on the latest reported figures.
Does Jinan Acetate Chemical Co pay a dividend?
Jinan Acetate Chemical Co currently shows a dividend yield of about 6.97% 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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