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Shihlin Development Company Limited (5324) fair value: what the stock is really worth

As of Sep 24, 2026: fair value of Shihlin Development Company Limited TWD 4.28, price TWD 12.45, upside -65.6%, quality 38 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? No
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Consumer Cyclical · TW

SD Thin data Sep 24, 2026

Shihlin Development Company Limited

5324 · TWO

Weakest SetupStrongly overvalued and low quality.

!Fair value 4.28 TWD · Strongly overvalued (−66%)
!Quality 38/100
!Expensive Growth (revenue 3y +36.8 %/yr)
!Loss-making · -1.5% net margin (TTM)
!Moderate debt · negative free cash flow
!Trails peers (3/11)
!Narrow moat 19/100
!Evidence only low, so the estimate is less certain
!The models disagree: range 0.8560 TWD to 11.16 TWD
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

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

Price vs Fair Value

16.40 TWD 8.30 TWD Fair Value 4.28 TWD Apr 2021 Sep 2026

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

How to read this chart

60‑month range 8.30 TWD – 16.40 TWD · fair‑value band 0.8560 TWD – 11.16 TWD · the 12.45 TWD price screens above the 4.28 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.

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Company profile

Shihlin Development Company Limited provides guest rooms and catering services in Taiwan. The company operates through Construction and Development, Leisure and Recreation, and Catering and Hotel segments.

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Shihlin Development Company Limited provides guest rooms and catering services in Taiwan. The company operates through Construction and Development, Leisure and Recreation, and Catering and Hotel segments. The Construction and Development segment engages in the construction, sale, and rental of commercial and residential buildings, as well as real estate development. The Leisure and Recreation segment develops clubs and specialized commercial areas. The Catering and Hotel segment engages in food and beverage and accommodation services. It is also engaged in land development business; and operations of hotels. Further, it manufactures and sells small signal transistors, power transistors, and integrated circuits. Shihlin Development Company Limited was founded in 1973 and is based in Taipei, Taiwan.

Stock analysis

Shihlin Development Company Limited (5324) currently trades at 12.45 TWD, while our model-based Fair Value estimate is 4.28 TWD, implying the stock looks roughly 190.9% overvalued today.

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Valuation

How firm this estimate is: it rests on 7 models at a data quality of 93/100, which puts the evidence level at low.

Scenario range: 0.8560 TWD (bear) to 11.16 TWD (bull), the price of 12.45 TWD sits above 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 38/100 (below-average quality), in the Consumer Cyclical sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

Shihlin Development Company Limited reported revenue of 1.2B TWD in FY2025 versus 736M TWD in FY2021, a compound +12.0%/yr. Reported net income was −12.3M TWD in FY2025.

Key figures

Market cap 2.8B TWD (≈ $88.5M) · P/S ratio 2.36 · EPS (TTM) −0.0800 TWD · Net margin −1.1% · Return on equity −0.3% · Return on assets (EBIT) −0.4% · Operating margin 4.8% · Revenue (TTM) 1.2B TWD.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 28 out of 100 (medium confidence).

What moves the price

The share trades about 2% below its 52-week high and 25% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Consumer Cyclical peers we cover trades at −32% fair-value upside, at −66%, 5324 screens richer than that median.

Fair Value models

Bear 0.8560 TWD Fair Value 4.28 TWD Bull 11.16 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. 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.
Highest evidence
EV/EBITDA 7.27 TWD 11.45 TWD 15.62 TWD 66
EV/EBIT n/a 0.4200 TWD 1.84 TWD 61
NCAV (Graham) 3.30 TWD 4.42 TWD 6.60 TWD 54
All 3 models by family
Multiples
EV/EBIT n/a 0.4200 TWD 1.84 TWD 61
EV/EBITDA 7.27 TWD 11.45 TWD 15.62 TWD 66
Asset-Based
NCAV (Graham) 3.30 TWD 4.42 TWD 6.60 TWD 54

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Quality Score breakdown

Overall quality 38/100

Of which business quality 36 · Market factors (momentum, volatility) 68

Profitability 10
Margins and returns on capital today
Quality Growth 33
Are margins and returns improving?
Cashflow 33
Earnings quality: real cash, not paper profit
Fin. Strength 8
Balance sheet, leverage, solvency risk
Investment 88
Disciplined investing over empire-building
Low Volatility 92
Calm price path (market factor)
Momentum 51
Price trend over the last 3–12 months (market factor)
52W Momentum 71
Distance to the 52-week high (market factor)
Net Issuance 82
Share count: buybacks or dilution?

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Revenue & earnings trend

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. 38/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
−55.3%
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.
+36.8%
Profit margin (trend) ⓘ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.
−24.6% (2021) → 5.0% (2025)
What shareholders gained per year ⓘ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

5324 screens 191% overvalued. Compare with Marriott International, Inc →

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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.Lodging · 168 stocks

Beats the industry median on 3/10 measures
Overall it trails its industry peers.
Valuation
Quality Score 39 · Bottom 25%
Fair Value upside −66% · Bottom 25%
Profitability
Return on assets 0% · Below median
Net margin (TTM) −2% · Below median
Operating margin (TTM) 5% · Below median
Growth and dividend
Revenue growth 38% · Top 25%
Balance sheet
Debt / equity 1.20× · Highest 25%

Valuation Multiplesvs Lodging median · lower = cheaper

P/B 0.06× · Cheapest 25%
P/S (TTM) 0.08× · Cheapest 25%
EV/EBITDA 12.0× · Pricier than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 20
FUTURE (revenue growth)100 · sector 24
PAST (return on equity)0 · sector 12
HEALTH (low debt)40 · sector 89
DIVIDEND (yield)0 · sector 30

VALUE 0: the price sits above our fair-value range.

Context: sector, industry, market

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 Lodging stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
Marriott International, Inc MAR $351.66 $150.61 −57%
Hilton Worldwide Holdings HLT $307.22 $268.06 −13%
InterContinental Hotels Group IHG $154.85 $97.57 −37%
Hyatt Hotels Corporation H $157.80 $49.88 −68%
H World Group HTHT $42.78 $63.51 +48%
Accor SA AC €45.22 €40.27 −11%
The Indian Hotels Company INDHOTEL ₹743.70 ₹502.32 −32%
Wyndham Hotels & Resorts, Inc WH $67.86 $29.84 −56%
Hanjin Kal, 180640 140,100 KRW 28,728 KRW −79%
Choice Hotels International, Inc CHH $100.32 $73.41 −27%

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Shihlin Development Company Limited · Fair Value
4.28 TWD −191%Fair Value
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Cite: Fair Value Calculator (2026). "Shihlin Development Company Limited Fair Value". https://www.fairvalue-calculator.com/stock/5324

Frequently asked questions

Is Shihlin Development Company Limited (5324) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 4.28 TWD versus a price of 12.45 TWD, about −66% upside (overvalued).
What is the fair value of 5324?
Our model-based fair value for Shihlin Development Company Limited is 4.28 TWD (as of Sep 24, 2026), built from audited fundamentals. The current price: 12.45 TWD.
What is the quality score of 5324?
Shihlin Development Company Limited 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 Shihlin Development Company Limited (5324)?
Our model-based price target is the fair value of 4.28 TWD (as of Sep 24, 2026) from 3 valuation models. Cautious scenario 0.8560 TWD, optimistic scenario 11.16 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Shihlin Development Company Limited stock forecast for 2026?
Our models put fair value at 4.28 TWD, about −66% upside versus a price of 12.45 TWD (overvalued). Cautious scenario 0.8560 TWD, optimistic scenario 11.16 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Shihlin Development Company Limited (5324)?
Shihlin Development Company Limited reported trailing-twelve-month revenue of about 1.2B TWD (latest available figure, as of Sep 24, 2026).
What is the intrinsic value of Shihlin Development Company Limited (5324)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Shihlin Development Company Limited it is 4.28 TWD per share (as of Sep 24, 2026), against a price of 12.45 TWD. It is the blended result of 3 valuation models (cash flow, earnings, asset, dividend).
Is Shihlin Development Company Limited stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 5324 trades above its calculated fair value: price 12.45 TWD, fair value 4.28 TWD, a gap of about −66% (overvalued). 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 5324?
No. The price is what the market pays today (12.45 TWD); the fair value is what the company's own numbers justify (4.28 TWD). For Shihlin Development Company Limited the two are 8.17 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Shihlin Development Company Limited worth?
The market values Shihlin Development Company Limited at about 2.8B TWD (market capitalisation, as of Sep 24, 2026). Per share that is 12.45 TWD; our models calculate a fair value of 4.28 TWD per share.
What do the bullish and bearish scenarios say about 5324?
Our models span a range for Shihlin Development Company Limited: cautious scenario 0.8560 TWD, base 4.28 TWD, optimistic 11.16 TWD per share (as of Sep 24, 2026, price 12.45 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Shihlin Development Company Limited (5324)?
Balance-sheet figures for Shihlin Development Company Limited (as of Sep 24, 2026): return on equity −0.3%, debt of 1.20 per unit of equity. They feed the Quality Score of 38/100, which measures business quality independently of the share price.
How far is 5324 from its 52-week high?
Shihlin Development Company Limited trades at 12.45 TWD, about 2% below its 52-week high of 12.75 TWD and 25% above the low of 10.00 TWD (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 4.28 TWD is for.
Which stocks are comparable to Shihlin Development Company Limited?
From the same area (Consumer Cyclical) we also value Marriott International, Inc, Hilton Worldwide Holdings, InterContinental Hotels Group, Hyatt Hotels Corporation, 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 Shihlin Development Company Limited stock attractive at the current price?
The data as of Sep 24, 2026: price 12.45 TWD, calculated fair value 4.28 TWD (−66%), Quality Score 38/100, from 3 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 5324 calculated?
We run Shihlin Development Company Limited through 3 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 4.28 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 13.0 % above its aggregate fair value. Shihlin Development Company Limited 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 Shihlin Development Company Limited (5324)?
The closing price on Sep 24, 2026 was 12.45 TWD. Our model-based fair value is 4.28 TWD, about −66% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Shihlin Development Company Limited right now?
The price sits above even our optimistic bull case (11.16 TWD). The favourable scenario is already priced in. Weak quality (38/100) and above fair value at the same time, the margin of safety is missing on both counts. The model range is unusually wide (0.8560 TWD to 11.16 TWD). The outcome hinges heavily on assumptions, so read the point estimate with caution. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.

Key figures of Shihlin Development Company Limited

How large is the market capitalisation of Shihlin Development Company Limited (5324)?
The market capitalisation of Shihlin Development Company Limited is 2.8B TWD (≈ $88.5M). 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 Shihlin Development Company Limited (5324)?
The price-to-sales ratio of Shihlin Development Company Limited is 2.36 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Shihlin Development Company Limited (5324)?
Earnings per share at Shihlin Development Company Limited are −0.0800 TWD. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Shihlin Development Company Limited (5324)?
The net margin of Shihlin Development Company Limited is −1.1% (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 Shihlin Development Company Limited (5324)?
The return on equity (ROE) of Shihlin Development Company Limited is −0.3% (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 Shihlin Development Company Limited (5324)?
On an EBIT basis the return on assets of Shihlin Development Company Limited is −0.4% (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 Shihlin Development Company Limited (5324)?
The operating margin of Shihlin Development Company Limited is 4.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Shihlin Development Company Limited (5324)?
Revenue at Shihlin Development Company Limited is growing +38.0% versus a year earlier (3y avg +36.8%). 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 Shihlin Development Company Limited (5324)?
Earnings per share at Shihlin Development Company Limited are growing −56.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Shihlin Development Company Limited (5324) generate?
The free cash flow of Shihlin Development Company Limited is −524M TWD (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Shihlin Development Company Limited (5324) carry?
The net debt of Shihlin Development Company Limited is 5.5B TWD (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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