Kunyue Development Co (5206) Fair Value & Analysis
Real Estate · TW · Market cap 3.7B TWD
Fair value as of: Jul 21, 2026
From 7 valuation models · updated 20 days ago
Fair value updated Jul 21, 2026, revised from 43.04 TWD to 40.99 TWD (−4.8%) since Jun 26, 2026. Share price +7.7% over the past month.
Below-average quality, screening 83% undervalued on our models.
What matters now
- The price is below even our cautious bear case (30.74 TWD). The market is more pessimistic than our downside scenario.
- Solid quality (46/100) at a price below fair value, the discount is the argument here, not the business quality.
- As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Price vs Fair Value (5 years)
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 9.92 TWD – 90.70 TWD · fair‑value band 30.74 TWD – 51.24 TWD · the 22.35 TWD price screens below the 40.99 TWD fair value. Dashed = 300-day average. As of Jul 21, 2026.
Analysis
Kunyue Development Co (5206) currently trades at 22.35 TWD, while our model-based Fair Value estimate is 40.99 TWD, implying the stock looks roughly 83.4% undervalued today. The Quality Score stands at 46/100 (below-average quality), in the Real Estate 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: high), always confirm before acting.
Over the trailing twelve months, Kunyue Development Co generated revenue of 4.3B TWD at a net margin of 20.0%. Revenue grew 44.7% year over year. It earns a return on equity of 23.1%. Net debt stands at 9.9B TWD. Fundamentals as of Jul 21, 2026
Our scenario range runs from 30.74 TWD (bear case) to 51.24 TWD (bull case); at 22.35 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 43% below its 52-week high and 4% above its 52-week low, currently below its 200-day average. For context, the median of 10 Real Estate peers we cover trades at 32% fair-value upside, at 83%, 5206 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.
All 7 models by family
Widest divergence: Multiples (55.69 TWD) versus Asset-Based (13.73 TWD). Highest evidence: Residual Income (76).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 21, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 41 · Market factors (momentum, volatility) 26
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
Kunyue Development Co., Ltd. engages in the construction and leasing of residential buildings and commercial buildings in Taiwan. It operates in two segments, Development and Construction. The company is involved in land development, building construction, residential development, house sales, and customer service activities.
Full company description
Kunyue Development Co., Ltd. engages in the construction and leasing of residential buildings and commercial buildings in Taiwan. It operates in two segments, Development and Construction. The company is involved in land development, building construction, residential development, house sales, and customer service activities. It also offers structural, hydropower, waterproof, and other engineering services. In addition, the company is involved in real estate development; and civil construction business. Kunyue Development Co., Ltd. was incorporated in 1975 and is based in Taichung, Taiwan.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Kunyue Development Co reported revenue of 3.8B TWD in FY2025 versus 1.9B TWD in FY2021, a compound +18.2%/yr. Reported net income was 590M TWD in FY2025, compounding +63.1%/yr from FY2021.
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Peer Group
Real Estate - Development · 588 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.
Valuation Multiples vs Real Estate - Development median · lower = cheaper
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.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Real Estate - Development stocks, each showing price versus our Fair Value estimate (as of Jul 21, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| DLF Limited DLF | ₹657.75 | ₹159.49 | -76% |
| Lodha Developers Limited LODHA | ₹1,188 | ₹583.43 | -51% |
| PT Pantai Indah Kapuk Dua Tbk, PANI | 6,125 IDR | 1,330 IDR | -78% |
| Oberoi Realty Limited OBEROIRLTY | ₹1,925 | ₹1,183 | -39% |
| Godrej Properties Limited GODREJPROP | ₹2,102 | ₹1,044 | -50% |
| PT Jaya Real Property, Tbk., JRPT | 1,080 IDR | 1,674 IDR | +55% |
| PT Bumi Serpong Damai Tbk, BSDE | 555.00 IDR | 1,388 IDR | +150% |
| PT Sentul City Tbk, BKSL | 64.00 IDR | 84.16 IDR | +32% |
| PT Ciputra Development Tbk, CTRA | 555.00 IDR | 1,388 IDR | +150% |
| PT Duta Pertiwi Tbk DUTI | 4,100 IDR | 6,239 IDR | +52% |
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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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