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Nan Pao Resins Chemical Co (4766) Fair Value & Analysis

Basic Materials · TW · Market cap 40.3B TWD

NP Nan Pao Resins Chemical Co 4766 · TW
Price326.50 TWD
Fair Value344.31 TWD
Upside+5.5%
Quality63/100
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Healthy Growth
Solidly profitable · 10.7% net margin
Low debt · generates free cash flow
5.54% dividend yield
Ranks above peers (11/14)
Moderate moat 62/100
Evidence: Medium Range 258.23 TWD – 430.38 TWD Share as image

Fair value as of: Jul 21, 2026

From 26 valuation models · updated 20 days ago

Share price −5.5% over the past month.

A solid business, currently priced close to our fair value.

What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • Our model range runs from 258.23 TWD (bear) to 430.38 TWD (bull), base 344.31 TWD. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 63/100 (solid quality) with medium evidence: read the verdict with care.
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Price vs Fair Value (5 years)

438.50 TWD 109.09 TWD Fair Value 344.31 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 109.09 TWD – 438.50 TWD · fair‑value band 258.23 TWD – 430.38 TWD · the 326.50 TWD price screens below the 344.31 TWD fair value. Dashed = 300-day average. As of Jul 21, 2026.

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Analysis

Nan Pao Resins Chemical Co (4766) currently trades at 326.50 TWD, while our model-based Fair Value estimate is 344.31 TWD, implying the stock looks roughly 5.5% fairly valued today. The Quality Score stands at 63/100 (solid quality), in the Basic Materials 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, Nan Pao Resins Chemical Co generated revenue of 23.5B TWD at a net margin of 10.7%. Revenue grew 5.1% year over year. It earns a return on equity of 18.7%. The balance sheet holds a net cash position of 1.1B TWD. Fundamentals as of Jul 21, 2026

Our scenario range runs from 258.23 TWD (bear case) to 430.38 TWD (bull case); at 326.50 TWD, the current price sits within 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 27% below its 52-week high and 10% above its 52-week low, currently below its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -58% fair-value upside, at 5%, 4766 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 293.44 TWD 412.40 TWD 580.93 TWD 80
Residual Income 129.05 TWD 156.89 TWD 331.15 TWD 76
Rev-Margin DCF 249.92 TWD 366.86 TWD 499.52 TWD 74
All 26 models by family
DCF Models
FCF DCF 288.38 TWD 421.27 TWD 620.82 TWD 38
Owner Earnings 275.43 TWD 401.47 TWD 590.74 TWD 31
5Y Revenue Exit 249.92 TWD 365.27 TWD 510.03 TWD 39
5Y EBITDA Exit 289.95 TWD 439.25 TWD 610.75 TWD 41
5Y P/E Exit 273.91 TWD 409.61 TWD 549.53 TWD 38
10Y Revenue Exit 255.54 TWD 363.48 TWD 503.76 TWD 36
10Y EBITDA Exit 287.01 TWD 414.51 TWD 579.80 TWD 37
10Y P/E Exit 276.83 TWD 394.07 TWD 533.58 TWD 35
Earnings-Based
Graham-Dodd 137.72 TWD 403.19 TWD 532.86 TWD 54
Lynch FV 84.07 TWD 120.10 TWD 156.13 TWD 50
PEG = 1.0 84.07 TWD 120.10 TWD 156.13 TWD 46
EPV 260.82 TWD 298.09 TWD 330.71 TWD 59
Dividend Discount
Gordon GGM 184.05 TWD 382.69 TWD 607.09 TWD 70
DDM Multi-Stage 184.05 TWD 296.40 TWD 401.64 TWD 61
Multiples
P/E Multiple 258.23 TWD 344.31 TWD 430.38 TWD 63
P/S Multiple 216.47 TWD 288.63 TWD 360.79 TWD 58
P/B Multiple 257.42 TWD 343.23 TWD 429.04 TWD 55
EV/EBIT 369.52 TWD 480.30 TWD 591.08 TWD 53
EV/EBITDA 323.31 TWD 418.69 TWD 514.07 TWD 54
EV/Revenue 239.22 TWD 325.81 TWD 412.40 TWD 43
Asset-Based
NCAV (Graham) 57.21 TWD 76.66 TWD 114.41 TWD 50
Growth DCF
Growth DCF 293.44 TWD 412.40 TWD 580.93 TWD 80
Rev-Margin DCF 249.92 TWD 366.86 TWD 499.52 TWD 74
Economic Profit
Residual Income 129.05 TWD 156.89 TWD 331.15 TWD 76
ROIC Compounder 273.94 TWD 330.34 TWD 392.07 TWD 72
Growth Earnings
Growth-Adj P/E 213.94 TWD 305.63 TWD 397.32 TWD 68

Widest divergence: DCF Models (401.47 TWD) versus Asset-Based (76.66 TWD). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 23.5B TWD
Revenue growth (YoY) +5.1%
Net margin 10.7%
Return on equity 18.7%
Free cash flow 2.7B TWD FY2025
P/E ratio 18.4
More key figures
Operating margin 17.6%
EPS (TTM) 20.19 TWD
Dividend yield 5.5%
EPS growth (YoY) -0.5%
Net cash 1.1B TWD FY2025

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

Quality Score breakdown

Overall quality 63/100

Of which business quality 62 · Market factors (momentum, volatility) 48

Profitability 57
Margins and returns on capital today
Quality Growth 43
Are margins and returns improving?
Cashflow 61
Earnings quality: real cash, not paper profit
Fin. Strength 88
Balance sheet, leverage, solvency risk
Investment 92
Disciplined investing over empire-building
Low Volatility 75
Calm price path (market factor)
Momentum 41
Price trend over the last 3–12 months (market factor)
52W Momentum 28
Distance to the 52-week high (market factor)
Net Issuance 29
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

Nan Pao Resins Chemical Co., Ltd. engages in the manufacturing, wholesale, and retail sale of synthetic resins and plastics, adhesives, resin coatings, dyes, and pigments in Taiwan, rest of Asia, Oceania, Europe, Africa, and America.

Full company description

Nan Pao Resins Chemical Co., Ltd. engages in the manufacturing, wholesale, and retail sale of synthetic resins and plastics, adhesives, resin coatings, dyes, and pigments in Taiwan, rest of Asia, Oceania, Europe, Africa, and America. The company offers footwear adhesives, including water based polyurethane dispersion, footwear cleaners, primers, and hardeners, as well as T-PU and shoe adhesives; and adhesives and specialties, such as textile, woodworking and furniture, construction, graphic arts, tape and label, paper converting, rigid packaging, leather coating, specialty, flexible packaging, construction and decoration, nonwoven, pressure sensitive, and other adhesives, as well as product assembly. It also provides hot melt adhesives comprising footwear, bookbinding, carton sealing/packaging, woodworking, hygiene, cushion/EPE foam, labeling, filter glue, automatic, insect trapping, pocket spring assembly, and medical tap adhesives; coatings, including building and construction, flooring and concrete, heavy duty anti-rust, industrial, eco green, functional, indoor and outdoor powder, and special application coatings; and construction materials, which include grouts, waterproof, soundproof, flooring, and sealants products. In addition, the company offers PUR hot melt adhesives for shoe bonding materials, textile, and woodwork; optical adhesive and functional pressure sensitive adhesive; insulating glass; carbon fiber composite materials; water based nano resins; hot melt adhesive films; and semiconductor and optical device adhesives. Nan Pao Resins Chemical Co., Ltd. was incorporated in 1963 and is headquartered in Tainan City, Taiwan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Nan Pao Resins Chemical Co reported revenue of 23.2B TWD in FY2025 versus 18.0B TWD in FY2021, a compound +6.6%/yr. Reported net income was 2.4B TWD in FY2025, compounding +29.2%/yr from FY2021.

Growth Quality 87/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
23.2B TWD
Latest YoY
+0.9%
Avg. growth/yr (3Y)
+1.8%
Avg. growth/yr (5Y)
+8.3%
Avg. growth/yr (11Y)
+4.4%
Revenue +6.6%/yr
FY21 18.0B TWD
FY22 22.0B TWD
FY23 20.6B TWD
FY24 23.0B TWD
FY25 23.2B TWD
Net income +29.2%/yr
FY21 876M TWD
FY22 1.7B TWD
FY23 2.4B TWD
FY24 2.7B TWD
FY25 2.4B TWD

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Cite: Fair Value Calculator (2026). "Nan Pao Resins Chemical Co Fair Value". https://www.fairvalue-calculator.com/stock/4766

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 63 · Top 25%
Fair Value upside +6% · Above median
Return on equity (TTM) 19% · Top 25%
Return on assets 8% · Top 25%
Net margin (TTM) 11% · Top 25%
Operating margin (TTM) 18% · Top 25%
Revenue growth 5% · Above median
Dividend yield (TTM) 5.5% · Top 25%
Debt / equity 0.21× · Higher than median

Valuation Multiples vs Specialty Chemicals median · lower = cheaper

P/E (TTM) 16.5× · Cheaper than median
P/B 2.92× · Pricier than median
P/S (TTM) 1.72× · Pricier than median
P/FCF 0.5× · Cheaper than median
EV/EBITDA 7.8× · 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 41 · sector 0
FUTURE 26 · sector 19
PAST 75 · sector 23
HEALTH 90 · sector 95
DIVIDEND 100 · sector 25

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 Nan Pao Resins Chemical Co (4766) overvalued or undervalued?
As of Jul 21, 2026, our model estimates a fair value of 344.31 TWD versus a price of 326.50 TWD, about +5% (fairly valued).
What is the fair value of 4766?
Our model-based fair value for Nan Pao Resins Chemical Co is 344.31 TWD (as of Jul 21, 2026), built from audited fundamentals. The current price is 326.50 TWD.
What is the quality score of 4766?
Nan Pao Resins Chemical Co has a Quality Score of 63/100. 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 Nan Pao Resins Chemical Co (4766)?
Nan Pao Resins Chemical Co reported trailing-twelve-month revenue of about 23.5B TWD (latest available figure, as of Jul 21, 2026).
What is the net profit margin of 4766?
The net profit margin of Nan Pao Resins Chemical Co is about 10.7%, meaning it keeps roughly 10.7% of revenue as net income. Based on the latest reported figures.
Does Nan Pao Resins Chemical Co pay a dividend?
Nan Pao Resins Chemical Co currently shows a dividend yield of about 5.54% 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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