Nan Pao Resins Chemical Co Ltd (4766) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Nan Pao Resins Chemical Co Ltd TWD 344, price TWD 344, upside +0.2%, quality 63 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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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.
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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.
Stock analysis
Nan Pao Resins Chemical Co Ltd (4766) currently trades at 343.50 TWD, while our model-based Fair Value estimate is 344.31 TWD, implying the stock looks roughly 0.2% fairly valued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 344.85 TWD per share, and 11 of the 26 models we run sit above the 343.50 TWD price.
Bear case: the Asset-Based group reads lowest at 76.66 TWD, and 15 of the 26 models stay below the price. Evidence for this calculation is high.
Scenario range: 258.23 TWD (bear) to 430.38 TWD (bull), the price of 343.50 TWD sits inside 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 63/100 (solid quality), in the Basic Materials sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Nan Pao Resins Chemical Co Ltd 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.
Key figures
Market cap 44.9B TWD (≈ $1.4B) · P/E ratio 17.0 · P/S ratio 1.79 · EPS (TTM) 20.22 TWD · Dividend yield 5.2% · Net margin 10.5% · Return on equity 18.7% · Return on assets (EBIT) 10.2%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 52 out of 100 (low confidence).
What moves the price
The share trades about 16% below its 52-week high and 13% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at −40% fair-value upside, at 0%, 4766 screens cheaper than that median.
Fair Value models
Bear 258.23 TWDFair Value 344.31 TWDBull 430.38 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 (1.62 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.80/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+0.9%
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.
+1.8%
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.
+8.3%
Start year 2020 (pandemic). Over 10 years: +4.8% a year
Revenue growth 11 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.
+4.4%
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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.
+18.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year+13.1%
Dividend (yield on the price)5.2%
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.13% vs 6%, 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.10% → 16%
Start year 2020 (pandemic)
Growth Forecast
Price in line with expectations
The price assumes about as much growth as the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+6.6%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Taiwan: IMF forecast 1.6% a year to 2030, 1.5% from 2016 to 2025) that is about +4.9% a year for the price.
Compare Nan Pao Resins Chemical Co Ltd with another stock
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 · 714 stocks
Beats the industry median on 11/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score63 · Top 25%
Fair Value upside+0% · Above median
Profitability
Return on equity (TTM)19% · Top 25%
Return on assets8% · Top 25%
Net margin (TTM)11% · Top 25%
Operating margin (TTM)18% · Top 25%
Growth and dividend
Revenue growth5% · Above median
Dividend yield (TTM)5.2% · Top 25%
Balance sheet
Debt / equity0.21× · Above median
Valuation Multiplesvs Specialty Chemicals median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Nan Pao Resins Chemical Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/4766
Frequently asked questions
Is Nan Pao Resins Chemical Co Ltd (4766) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 344.31 TWD versus a price of 343.50 TWD, about +0% upside (fairly valued).
What is the fair value of 4766?
Our model-based fair value for Nan Pao Resins Chemical Co Ltd is 344.31 TWD (as of Sep 24, 2026), built from audited fundamentals. The current price: 343.50 TWD.
What is the quality score of 4766?
Nan Pao Resins Chemical Co Ltd 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 price target for Nan Pao Resins Chemical Co Ltd (4766)?
Our model-based price target is the fair value of 344.31 TWD (as of Sep 24, 2026) from 26 valuation models. Cautious scenario 258.23 TWD, optimistic scenario 430.38 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Nan Pao Resins Chemical Co Ltd stock forecast for 2026?
Our models put fair value at 344.31 TWD, about +0% upside versus a price of 343.50 TWD (fairly valued). Cautious scenario 258.23 TWD, optimistic scenario 430.38 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Nan Pao Resins Chemical Co Ltd (4766)?
Nan Pao Resins Chemical Co Ltd reported trailing-twelve-month revenue of about 23.5B TWD (latest available figure, as of Sep 24, 2026).
Does Nan Pao Resins Chemical Co Ltd pay a dividend?
Nan Pao Resins Chemical Co Ltd currently shows a dividend yield of about 5.24% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Nan Pao Resins Chemical Co Ltd (4766)?
For today's price to be fair in a discounted-cash-flow model, Nan Pao Resins Chemical Co Ltd would have to grow free cash flow by +6.6 % per year for five years (discount rate 10.3 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +8.3 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 4766 use?
Our models discount Nan Pao Resins Chemical Co Ltd at 10.3 %: a base by market capitalisation (small), damped by beta 0.35, country premium for Taiwan. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Nan Pao Resins Chemical Co Ltd that is +6.6 % per year a year over ten years, using the same discount rate (10.3 %) and the same formula as our fair value.
How much growth has Nan Pao Resins Chemical Co Ltd (4766) delivered so far?
Over the past 5 years revenue at Nan Pao Resins Chemical Co Ltd grew +8.3 % a year. The price currently implies +6.6 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Nan Pao Resins Chemical Co Ltd (4766) growing?
The median revenue growth in the sector is +3.3 % a year. That is the yardstick for the growth priced into Nan Pao Resins Chemical Co Ltd (+6.6 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Nan Pao Resins Chemical Co Ltd (4766)?
The free-cash-flow yield on the price is 6.04 %: that much free cash flow Nan Pao Resins Chemical Co Ltd produces per unit of market value. When it exceeds the discount rate of our models (10.3 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Nan Pao Resins Chemical Co Ltd (4766)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Nan Pao Resins Chemical Co Ltd it is 344.31 TWD per share (as of Sep 24, 2026), against a price of 343.50 TWD. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is Nan Pao Resins Chemical Co Ltd stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 4766 trades below its calculated fair value: price 343.50 TWD, fair value 344.31 TWD, a gap of about +0% (fairly valued). 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 4766?
No. The price is what the market pays today (343.50 TWD); the fair value is what the company's own numbers justify (344.31 TWD). For Nan Pao Resins Chemical Co Ltd the two are 0.8100 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Nan Pao Resins Chemical Co Ltd worth?
The market values Nan Pao Resins Chemical Co Ltd at about 44.9B TWD (market capitalisation, as of Sep 24, 2026). Per share that is 343.50 TWD; our models calculate a fair value of 344.31 TWD per share.
What do the bullish and bearish scenarios say about 4766?
Our models span a range for Nan Pao Resins Chemical Co Ltd: cautious scenario 258.23 TWD, base 344.31 TWD, optimistic 430.38 TWD per share (as of Sep 24, 2026, price 343.50 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 4766?
Nan Pao Resins Chemical Co Ltd trades at a price-to-earnings ratio of 17.0 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 344.31 TWD is built from several models across several years. Other multiples: P/B 3.3, P/S 1.9, EV/EBITDA 8.8.
How solid is the balance sheet of Nan Pao Resins Chemical Co Ltd (4766)?
Balance-sheet figures for Nan Pao Resins Chemical Co Ltd (as of Sep 24, 2026): return on equity 18.7%, debt of 0.21 per unit of equity. They feed the Quality Score of 63/100, which measures business quality independently of the share price.
How far is 4766 from its 52-week high?
Nan Pao Resins Chemical Co Ltd trades at 343.50 TWD, about 16% below its 52-week high of 408.00 TWD and 13% above the low of 304.00 TWD (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 344.31 TWD is for.
Which stocks are comparable to Nan Pao Resins Chemical Co Ltd?
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 Nan Pao Resins Chemical Co Ltd stock attractive at the current price?
The data as of Sep 24, 2026: price 343.50 TWD, calculated fair value 344.31 TWD (+0%), Quality Score 63/100, from 26 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 4766 calculated?
We run Nan Pao Resins Chemical Co Ltd through 26 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 344.31 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. Nan Pao Resins Chemical Co Ltd 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 Nan Pao Resins Chemical Co Ltd (4766)?
The closing price on Sep 24, 2026 was 343.50 TWD. Our model-based fair value is 344.31 TWD, about +0% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Nan Pao Resins Chemical Co Ltd right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. The price sits in the lower half of our model range, the side with the larger margin of safety. The data supports the verdict: every model runs on fully documented inputs.
Where does the earnings growth of Nan Pao Resins Chemical Co Ltd (4766) come from?
Earnings per share at Nan Pao Resins Chemical Co Ltd grew +8.0 % a year from 2014 to 2025. Broken into its drivers: revenue per share +2.3 %, EBIT margin +5.1 %, tax rate +0.2 %, residual (interest, one-offs) +0.3 %. 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 Nan Pao Resins Chemical Co Ltd
How large is the market capitalisation of Nan Pao Resins Chemical Co Ltd (4766)?
The market capitalisation of Nan Pao Resins Chemical Co Ltd is 44.9B TWD (≈ $1.4B). 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 Nan Pao Resins Chemical Co Ltd (4766)?
The price-to-sales ratio of Nan Pao Resins Chemical Co Ltd is 1.79 (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 Nan Pao Resins Chemical Co Ltd (4766)?
Earnings per share at Nan Pao Resins Chemical Co Ltd are 20.22 TWD (price ÷ EPS = P/E 17.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Nan Pao Resins Chemical Co Ltd (4766)?
The dividend yield of Nan Pao Resins Chemical Co Ltd is 5.2% (payout 89.0%). 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 Nan Pao Resins Chemical Co Ltd (4766)?
The net margin of Nan Pao Resins Chemical Co Ltd is 10.5% (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 Nan Pao Resins Chemical Co Ltd (4766)?
The return on equity (ROE) of Nan Pao Resins Chemical Co Ltd is 18.7% (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 Nan Pao Resins Chemical Co Ltd (4766)?
On an EBIT basis the return on assets of Nan Pao Resins Chemical Co Ltd is 10.2% (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 Nan Pao Resins Chemical Co Ltd (4766)?
The operating margin of Nan Pao Resins Chemical Co Ltd is 17.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Nan Pao Resins Chemical Co Ltd (4766)?
Revenue at Nan Pao Resins Chemical Co Ltd is growing +5.1% versus a year earlier (3y avg +1.8%). 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 Nan Pao Resins Chemical Co Ltd (4766)?
Earnings per share at Nan Pao Resins Chemical Co Ltd are growing +8.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Nan Pao Resins Chemical Co Ltd (4766) hold?
Nan Pao Resins Chemical Co Ltd holds more cash than debt, 1.1B TWD net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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