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Horng Tong Enterprise Co., Ltd. (5271) Fair Value & Analysis

Technology · TW · Market cap 711M TWD (≈ $22.5M) · ISIN TW0005271001

What is Horng Tong Enterprise Co., Ltd. really worth?

HT Horng Tong Enterprise Co., Ltd. 5271 · TWO
Price9.62 TWD
Fair Value20.08 TWD
Upside+108.7%
Quality38/100

Below-average quality, trading 52% below our fair value of 20.08 TWD.

As of Aug 26, 2026, the fair value of Horng Tong Enterprise Co., Ltd. is 20.08 TWD per share against a price of 9.62 TWD, so the fair value sits 109% above the price. A model estimate blended from multiple valuation models, recalculated regularly.

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Risks

!Weak Growth (revenue 5y −1.2 %/yr)
!Thin margins · 0.3% net margin
!Low debt · negative free cash flow
!Mixed vs. peers (7/12)
!Narrow moat 24/100
!Evidence only low, so the estimate is less certain
!Weak on past: 2 out of 100
Evidence: Low Range 14.98 TWD – 25.18 TWD

Fair value as of: Aug 26, 2026

From 14 valuation models · updated 11 days ago

Fair value updated Aug 26, 2026, revised from 20.05 TWD to 20.08 TWD (+0.1%) since Aug 23, 2026. Share price −15.2% over the past month.

What runs behind every stock

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

What matters now

  • The large discount to fair value meets weak quality (38/100). That raises the risk this is a value trap rather than a bargain.
  • The price is below even our cautious bear case (14.98 TWD). The market is more pessimistic than our downside scenario.
  • The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.

Price vs Fair Value (5 years)

50.70 TWD 6.43 TWD Fair Value 20.08 TWD Mar 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 26, 2026.

How to read this chart

60‑month range 6.43 TWD – 50.70 TWD · fair‑value band 14.98 TWD – 25.18 TWD · the 9.62 TWD price screens below the 20.08 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 26, 2026.

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Analysis

Horng Tong Enterprise Co., Ltd. (5271) currently trades at 9.62 TWD, while our model-based Fair Value estimate is 20.08 TWD, implying the stock looks roughly 52.1% undervalued today. The Quality Score stands at 38/100 (below-average quality), in the Technology sector. Bull case: the Asset-Based group reads highest at a median of 4.43 TWD per share, and 2 of the 14 models we run sit above the 9.62 TWD price. Bear case: the Economic Profit group reads lowest at 3.73 TWD, and 12 of the 14 models stay below the price. Evidence for this calculation is low.

Over the trailing twelve months, Horng Tong Enterprise Co., Ltd. generated revenue of 725M TWD at a net margin of 0.3%. Revenue grew 22.7% year over year. It earns a return on equity of 0.4%. Net debt stands at 159M TWD. Fundamentals as of Aug 26, 2026

Our scenario range runs from 14.98 TWD (bear case) to 25.18 TWD (bull case); at 9.62 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. For context, the median of 10 Technology peers we cover trades at −53% fair-value upside, at 109%, 5271 screens cheaper than that median.

Fair Value models

This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly 0.0205 TWD per share, which is 0.1 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced 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. Every input is real reported data, nothing guessed.

Note: the current price implies far more future growth than the conservative anchors of our models allow (base growth is deliberately capped, we do not regard such extreme rates as sustainable). Our models are not designed for expectations this high; that is why the individual models scatter extremely (0.1600 TWD to 17.69 TWD). Read the values as a conservative anchor, not as a price target.
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
EPV best evidence 6.05 TWD 6.56 TWD 6.98 TWD 74
ROIC Compounder 6.05 TWD 6.56 TWD 7.22 TWD 72
Residual Income 4.17 TWD 3.73 TWD 2.37 TWD 71
All 14 models by family
Earnings-Based
Graham-Dodd 0.1900 TWD 0.5400 TWD 0.7100 TWD 65
Lynch FV 0.1100 TWD 0.1600 TWD 0.2000 TWD 61
PEG = 1.0 0.1100 TWD 0.1600 TWD 0.2000 TWD 57
EPV best evidence 6.05 TWD 6.56 TWD 6.98 TWD 74
Multiples
P/E Multiple 0.4700 TWD 0.6300 TWD 0.7900 TWD 63
P/S Multiple 0.3600 TWD 0.4900 TWD 0.6100 TWD 58
P/B Multiple 0.3600 TWD 0.4900 TWD 0.6100 TWD 55
EV/EBIT 9.30 TWD 11.62 TWD 13.94 TWD 66
EV/EBITDA 13.86 TWD 17.69 TWD 21.53 TWD 67
EV/Revenue 7.03 TWD 9.04 TWD 11.05 TWD 54
Asset-Based
NCAV (Graham) 3.31 TWD 4.43 TWD 6.62 TWD 54
Economic Profit
Residual Income 4.17 TWD 3.73 TWD 2.37 TWD 71
ROIC Compounder 6.05 TWD 6.56 TWD 7.22 TWD 72
Growth Earnings
Growth-Adj P/E 0.3700 TWD 0.5300 TWD 0.7000 TWD 67

Widest divergence: Asset-Based (4.43 TWD) versus Earnings-Based (0.1600 TWD). Highest evidence: EPV (74).

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Key figures & financial health

P/E ratio 320.7
P/S ratio 0.80 P/E × margin
EPS (TTM) 0.0300 TWD price ÷ EPS = P/E 320.7
Net margin 0.3% FY2025
Return on equity 0.4% TTM
Return on assets (EBIT) −4.4% avg 5y
More key figures
Profitability
Operating margin 5.5% TTM
Growth
Revenue (TTM) 725M TWD TTM
Revenue growth (YoY) +22.7% 3y avg +12.9%
Balance sheet & cash flow
Free cash flow −39.5M TWD FY2025
Net debt 159M TWD FY2025

Figures from reported company fundamentals · as of Aug 26, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 38/100

Of which business quality 38 · Market factors (momentum, volatility) 26

Profitability 26
Margins and returns on capital today
Quality Growth 82
Are margins and returns improving?
Cashflow 30
Earnings quality: real cash, not paper profit
Fin. Strength 36
Balance sheet, leverage, solvency risk
Investment 68
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 23
Price trend over the last 3–12 months (market factor)
52W Momentum 4
Distance to the 52-week high (market factor)
Net Issuance 1
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

Horng Tong Enterprise Co., Ltd. engages in the research and development, design, manufacture, and sale of electronic connectors in Taiwan.

Full company description

Horng Tong Enterprise Co., Ltd. engages in the research and development, design, manufacture, and sale of electronic connectors in Taiwan. It offers connectors for mother boards, notebooks, and networks/antennas/RJs; and photoelectric products, such as AMOLED materials and cameras; car electronics, including DVRs and AVMs, car chargers, wireless chargers, AVN and ADAS products, dash cam-mirrors, head-up displays, portable car chargers, ATL system products, and 8 in 1 control boxes. The company was founded in 1998 and is based in New Taipei City, Taiwan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Horng Tong Enterprise Co., Ltd. reported revenue of 725M TWD in FY2025 versus 657M TWD in FY2021, a compound +2.5%/yr. Reported net income was 1.8M TWD in FY2025.

Growth Quality 22/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
725M TWD
Latest YoY
+21.3%
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.
+12.9%
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.
−1.2%
Avg. revenue growth/yr (6Y) 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.
+0.1%
Value creation/yr (5Y, in TWD) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year. 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.
−23.0% · in TWD
Earnings growth per share plus dividend yield: the value created per share and year.
Earnings growth per share−23.0%
Dividend yield0.0%
Operating margin (EBIT) 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.2.9% (2020) → 4.5% (2025) · rising
Worst earnings drop1,932% (2022) (loss year, drop beyond 100%) · in TWD
Revenue +2.5%/yr
FY21 657M TWD
FY22 504M TWD
FY23 575M TWD
FY24 598M TWD
FY25 725M TWD
Net income
FY21 −76.8M TWD
FY22 −56.9M TWD
FY23 −55.5M TWD
FY24 −76.0M TWD
FY25 1.8M TWD

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Cite: Fair Value Calculator (2026). "Horng Tong Enterprise Co., Ltd. Fair Value". https://www.fairvalue-calculator.com/stock/5271.TWO

Peer Group

Computer Hardware · 222 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 38 · Bottom 25%
Fair Value upside +109% · Top 25%
Return on equity (TTM) 0% · Below median
Return on assets 2% · Below median
Net margin (TTM) 0% · Below median
Operating margin (TTM) 6% · Above median
Revenue growth 23% · Above median
Debt / equity 0.04× · Lower than median

Valuation Multiples vs Computer Hardware median · lower = cheaper

P/E (TTM) 320.7× · Pricier than 75% of peers
P/B 1.69× · Cheaper than median
P/S (TTM) 0.98× · Cheaper than median
EV/EBITDA 9.4× · Cheaper than median

Strength profile in five axes (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 4
FUTURE100 · sector 59
PAST2 · sector 24
HEALTH98 · sector 97
DIVIDEND0 · sector 37

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 Computer Hardware stocks, each showing price versus our Fair Value estimate (as of Aug 26, 2026).

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Hygon Information Technology Co 688041 ¥246.21 ¥30.66 −88%
Hangzhou Hikvision Digital Technology Co 002415 ¥35.18 ¥40.44 +15%
Shenzhen Longsys Electronics Co 301308 ¥376.88 ¥91.67 −76%
Lenovo Group 0992 HK$30.12 HK$33.70 +12%
Dawning Information Industry Co 603019 ¥83.19 ¥39.38 −53%
HP Inc HPQ $30.52 $48.62 +59%
Inspur Electronic Information Industry Co 000977 ¥73.79 ¥44.02 −40%

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Frequently asked questions

Is Horng Tong Enterprise Co., Ltd. (5271) overvalued or undervalued?
As of Aug 26, 2026, our model estimates a fair value of 20.08 TWD versus a price of 9.62 TWD, about +109% upside (undervalued).
What is the fair value of 5271?
Our model-based fair value for Horng Tong Enterprise Co., Ltd. is 20.08 TWD (as of Aug 26, 2026), built from audited fundamentals. The current price: 9.62 TWD.
What is the quality score of 5271?
Horng Tong Enterprise Co., Ltd. has a Quality Score of 38/100. 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 Horng Tong Enterprise Co., Ltd. (5271)?
Our model-based price target is the fair value of 20.08 TWD (as of Aug 26, 2026) from 14 valuation models. Cautious scenario 14.98 TWD, optimistic scenario 25.18 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Horng Tong Enterprise Co., Ltd. stock forecast for 2026?
Our models put fair value at 20.08 TWD, about +109% upside versus a price of 9.62 TWD (undervalued). Cautious scenario 14.98 TWD, optimistic scenario 25.18 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Horng Tong Enterprise Co., Ltd. (5271)?
Horng Tong Enterprise Co., Ltd. reported trailing-twelve-month revenue of about 725M TWD (latest available figure, as of Aug 26, 2026).
What is the net profit margin of 5271?
The net profit margin of Horng Tong Enterprise Co., Ltd. is about 0.3%, meaning it keeps roughly 0.3% of revenue as net income. Based on the latest reported figures.
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