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Chain Chon Industrial Co Ltd (5014) Fair Value & Analysis

Basic Materials · TW · Market cap 2.0B TWD

CC Chain Chon Industrial Co Ltd 5014 · TWO
Price10.10 TWD
Fair Value16.16 TWD
Upside+60.0%
Quality43/100
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Strengths

Trades 38% below our fair value of 16.16 TWD
Moderate debt · generates free cash flow

Risks

!Weak Growth (revenue 5y +0.9 %/yr)
!Loss-making · -2.5% net margin
!Trails peers (3/11)
!Narrow moat 14/100
Weak Growth (revenue 5y +0.9 %/yr)
Loss-making · -2.5% net margin
Moderate debt · generates free cash flow
Trails peers (3/11)
Narrow moat 14/100
Evidence: Medium Range 12.07 TWD – 16.16 TWD Share as image

Fair value as of: Aug 24, 2026

From 3 valuation models · updated yesterday

Fair value updated Aug 24, 2026, revised from 9.67 TWD to 16.16 TWD (+67.1%) since Aug 13, 2026. Share price −9.8% over the past month.

Below-average quality, trading 38% below our fair value.

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

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What matters now

  • The large discount to fair value meets weak quality (43/100). That raises the risk this is a value trap rather than a bargain.
  • The price is below even our cautious bear case (12.07 TWD). The market is more pessimistic than our downside scenario.
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Price vs Fair Value (5 years)

25.90 TWD 9.42 TWD Fair Value 16.16 TWD Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 24, 2026.

How to read this chart

60‑month range 9.42 TWD – 25.90 TWD · fair‑value band 12.07 TWD – 16.16 TWD · the 10.10 TWD price screens below the 16.16 TWD fair value. Dashed = 300-day average. As of Aug 24, 2026.

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Analysis

Chain Chon Industrial Co Ltd (5014) currently trades at 10.10 TWD, while our model-based Fair Value estimate is 16.16 TWD, implying the stock looks roughly 60.0% undervalued today. The Quality Score stands at 43/100 (below-average 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, Chain Chon Industrial Co Ltd generated revenue of 15.3B TWD at a net margin of -2.5%. Revenue grew 11.8% year over year. It earns a return on equity of -12.4%. Net debt stands at 4.8B TWD. Fundamentals as of Aug 24, 2026

Our scenario range runs from 12.07 TWD (bear case) to 16.16 TWD (bull case); at 10.10 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 18% below its 52-week high and 8% above its 52-week low, currently below its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -17% fair-value upside, at 60%, 5014 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
EV/EBITDA 9.67 TWD 42.95 TWD 54
NCAV (Graham) 205.35 TWD 275.03 TWD 410.41 TWD 50
5Y EBITDA Exit 40.39 TWD 41
All 3 models by family
DCF Models
5Y EBITDA Exit 40.39 TWD 41
Multiples
EV/EBITDA 9.67 TWD 42.95 TWD 54
Asset-Based
NCAV (Graham) 205.35 TWD 275.03 TWD 410.41 TWD 50

Widest divergence: Asset-Based (275.03 TWD) versus Multiples (9.67 TWD). Highest evidence: EV/EBITDA (54).

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Key figures & financial health

P/S ratio 0.13 TTM
Net margin -2.5% TTM
Return on equity -12.4% TTM
Return on assets 0.0% TTM
Operating margin 2.4% TTM
EPS (TTM) -2.37 TWD
More key figures
Growth
Revenue (TTM) 15.3B TWD TTM
Revenue growth (YoY) +11.8% 3y avg -7.8%
EPS growth (YoY) -49.5%
Balance sheet & cash flow
Free cash flow 37.9M TWD FY2025
Net debt 4.8B TWD FY2025

Figures from reported company fundamentals · as of Aug 24, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 43/100

Of which business quality 40 · Market factors (momentum, volatility) 46

Profitability 22
Margins and returns on capital today
Quality Growth 33
Are margins and returns improving?
Cashflow 11
Earnings quality: real cash, not paper profit
Fin. Strength 26
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 74
Calm price path (market factor)
Momentum 38
Price trend over the last 3–12 months (market factor)
52W Momentum 28
Distance to the 52-week high (market factor)
Net Issuance 89
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

Chain Chon Industrial Co., Ltd. engages in the cutting, slitting, processing, and sales of stainless steel products in Taiwan and internationally. It offers Cold and hot rolled stainless steel coils, sheets, slitting, angle and flat iron, plates, strips, gratings, angle steel, flat steel, welded H-beams, and polishing sheets.

Full company description

Chain Chon Industrial Co., Ltd. engages in the cutting, slitting, processing, and sales of stainless steel products in Taiwan and internationally. It offers Cold and hot rolled stainless steel coils, sheets, slitting, angle and flat iron, plates, strips, gratings, angle steel, flat steel, welded H-beams, and polishing sheets. The company was founded in 1980 and is based in Taoyuan City, Taiwan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Chain Chon Industrial Co Ltd reported revenue of 15.0B TWD in FY2025 versus 18.6B TWD in FY2021, a compound −5.3%/yr. Reported net income was −437M TWD in FY2025.

Growth Quality 25/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
15.0B TWD
Latest YoY
−8.4%
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.
−7.8%
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.
+0.9%
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.
−1.8%
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 −5.3%/yr
FY21 18.6B TWD
FY22 19.1B TWD
FY23 15.6B TWD
FY24 16.3B TWD
FY25 15.0B TWD
Net income
FY21 520M TWD
FY22 377M TWD
FY23 25.7M TWD
FY24 216M TWD
FY25 −437M TWD

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Cite: Fair Value Calculator (2026). "Chain Chon Industrial Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/5014

Peer Group

Steel · 394 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 43 · Below median
Fair Value upside +60% · Top 25%
Return on assets 0% · Below median
Net margin (TTM) -2% · Bottom 25%
Operating margin (TTM) 2% · Below median
Revenue growth 12% · Above median
Dividend yield (TTM) 0.0% · Bottom 25%
Debt / equity 0.50× · Higher than 75% of peers

Valuation Multiples vs Steel median · lower = cheaper

P/FCF 1.7× · Pricier than median
EV/EBITDA 5.4× · 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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE100 · sector 13
FUTURE59 · sector 2
PAST0 · sector 16
HEALTH75 · sector 95
DIVIDEND0 · sector 48

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 Steel stocks, each showing price versus our Fair Value estimate (as of Aug 24, 2026).

Stock Price Fair Value vs Fair Value
Nucor Corporation NUE $271.81 $116.05 -57%
ArcelorMittal S.A MT €64.18 €53.35 -17%
JSW Steel Limited JSWSTEEL ₹1,296 ₹1,119 -14%
Steel Dynamics, Inc STLD $228.68 $127.14 -44%
500228 500228 ₹1,292 ₹1,079 -16%
Tata Steel Limited TATASTEEL ₹186.20 ₹145.39 -22%
Reliance, Inc RS $427.11 $217.81 -49%
Baoshan Iron & Steel Co 600019 ¥5.91 ¥8.07 +37%
POSCO Holdings PKX $57.09 $83.53 +46%
Jindal Steel & Power Limited JINDALSTEL ₹1,114 ₹429.44 -61%

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Frequently asked questions

Is Chain Chon Industrial Co Ltd (5014) overvalued or undervalued?
As of Aug 24, 2026, our model estimates a fair value of 16.16 TWD versus a price of 10.10 TWD, about +60% (undervalued).
What is the fair value of 5014?
Our model-based fair value for Chain Chon Industrial Co Ltd is 16.16 TWD (as of Aug 24, 2026), built from audited fundamentals. The current price: 10.10 TWD.
What is the quality score of 5014?
Chain Chon Industrial Co Ltd has a Quality Score of 43/100. 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 Chain Chon Industrial Co Ltd (5014)?
Chain Chon Industrial Co Ltd reported trailing-twelve-month revenue of about 15.3B TWD (latest available figure, as of Aug 24, 2026).
What is the net profit margin of 5014?
The net profit margin of Chain Chon Industrial Co Ltd is about -2.5%, 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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