A solid business, but trading 144% above our fair value of 5.83 TWD.
As of Aug 15, 2026, the fair value of Inalways is 5.83 TWD per share against a price of 14.20 TWD, so the fair value sits 59% below the price. A model estimate blended from multiple valuation models, recalculated regularly.
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Strengths
✓Low debt · generates free cash flow
Risks
!Weak Growth (revenue 5y −9.0 %/yr)
!Thin margins · 6.9% net margin
!Trails peers (5/14)
!Narrow moat 25/100
!Evidence only low, so the estimate is less certain
69 individual criteria per stock, every one traceable See the method →
What matters now
The price sits above even our optimistic bull case (5.83 TWD). The favourable scenario is already priced in.
The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
Solid but not exceptional quality (58/100) and above fair value, neither a clear bargain nor a standout compounder.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 15, 2026.
How to read this chart
60‑month range 11.00 TWD – 30.65 TWD · fair‑value band 4.08 TWD – 5.83 TWD · the 14.20 TWD price screens above the 5.83 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Aug 15, 2026.
Inalways (5398) currently trades at 14.20 TWD, while our model-based Fair Value estimate is 5.83 TWD, implying the stock looks roughly 143.5% overvalued today. The Quality Score stands at 58/100 (solid quality), in the Healthcare sector. Bull case: the Asset-Based group reads highest at a median of 7.19 TWD per share, and 0 of the 24 models we run sit above the 14.20 TWD price. Bear case: the Dividend Discount group reads lowest at 1.14 TWD, and 24 of the 24 models stay below the price. Evidence for this calculation is low.
Over the trailing twelve months, Inalways generated revenue of 233M TWD at a net margin of 6.9%. Revenue grew 12.8% year over year. It earns a return on equity of 3.1%. The stock trades on a trailing P/E of 40.6. Fundamentals as of Aug 15, 2026
Our scenario range runs from 4.08 TWD (bear case) to 5.83 TWD (bull case); at 14.20 TWD, the current price sits above 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 54% below its 52-week high, currently below its 200-day average. For context, the median of 10 Healthcare peers we cover trades at −45% fair-value upside, at −59%, 5398 screens richer 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 0.2388 TWD per share, which is 4.1 % 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.
ModelBear ⓘ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
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Key figures & financial health
P/E ratio40.6
P/S ratio3.06P/E × margin
EPS (TTM)0.3500 TWDprice ÷ EPS = P/E 40.6
Dividend yield0.8%payout 31.3%
Net margin7.6%FY2025
Return on equity3.1%TTM
More key figures
Profitability
Return on assets (EBIT)−0.7%avg 5y
Operating margin−43.3%TTM
Growth
Revenue (TTM)233M TWDTTM
Revenue growth (YoY)+12.8%3y avg −3.7%
EPS growth (YoY)+196%
Balance sheet & cash flow
Free cash flow6.3M TWDFY2025
Figures from reported company fundamentals · as of Aug 15, 2026. TTM = trailing twelve months.
Quality Score breakdown
Overall quality58/100
Of which business quality 57
· Market factors (momentum, volatility) 25
Profitability28
Margins and returns on capital today
Quality Growth39
Are margins and returns improving?
Cashflow28
Earnings quality: real cash, not paper profit
Fin. Strength86
Balance sheet, leverage, solvency risk
Investment100
Disciplined investing over empire-building
Low Volatility71
Calm price path (market factor)
Momentum10
Price trend over the last 3–12 months (market factor)
52W Momentum0
Distance to the 52-week high (market factor)
Net Issuance82
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
Mediera Corporation manufactures electronic and power supply components in Taiwan. It is also involved in the medical biotechnology business. The company offers medicines, health food, and medical device, etc. Mediera Corporation was founded in 1967 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
Inalways reported revenue of 230M TWD in FY2025 versus 352M TWD in FY2021, a compound −10.1%/yr. Reported net income was 17.4M TWD in FY2025, compounding +1.7%/yr from FY2021.
Growth Quality 32/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
230M TWD
Latest YoY
−3.6%
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.
−3.7%
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.
−9.0%
Avg. revenue growth/yr (10Y) ⓘ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.
+1.3%
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.
+1.6% · in TWD
Earnings growth per share plus dividend yield: the value created per share and year.
Earnings growth per share+0.8%
Dividend yield0.8%
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.3.4% (2020) → 5.2% (2025) · rising
Worst earnings drop254% (2023) (loss year, drop beyond 100%) · in TWD
⚠ Revenue per share shrinking 13.0%/yr over ~6Y (margin trend unclear) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Inalways Fair Value". https://www.fairvalue-calculator.com/stock/5398.TWO
Peer Group
Drug Manufacturers - Specialty & Generic · 609 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 Score58 · Above median
Fair Value upside−59% · Below median
Return on equity (TTM)3% · Below median
Return on assets1% · Below median
Net margin (TTM)7% · Above median
Operating margin (TTM)−43% · Bottom 25%
Revenue growth13% · Above median
Dividend yield (TTM)0.8% · Below median
Valuation Multiples vs Drug Manufacturers - Specialty & Generic median · lower = cheaper
P/E (TTM)40.6× · Pricier than median
P/B1.44× · Cheaper than median
P/S (TTM)3.27× · Pricier than median
P/FCF3.8× · Pricier than median
EV/EBITDA34.1× · Pricier than 75% of peers
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.
This stockSector peers
VALUE0· sector 3
FUTURE64· sector 22
PAST12· sector 25
HEALTH100· sector 97
DIVIDEND15· sector 29
VALUE 0: the price sits above our fair-value range.
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 Drug Manufacturers - Specialty & Generic stocks, each showing price versus our Fair Value estimate (as of Aug 15, 2026).
As of Aug 15, 2026, our model estimates a fair value of 5.83 TWD versus a price of 14.20 TWD, about −59% upside (overvalued).
What is the fair value of 5398?
Our model-based fair value for Inalways is 5.83 TWD (as of Aug 15, 2026), built from audited fundamentals. The current price: 14.20 TWD.
What is the quality score of 5398?
Inalways has a Quality Score of 58/100. 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 Inalways (5398)?
Our model-based price target is the fair value of 5.83 TWD (as of Aug 15, 2026) from 24 valuation models. Cautious scenario 4.08 TWD, optimistic scenario 5.83 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Inalways stock forecast for 2026?
Our models put fair value at 5.83 TWD, about −59% upside versus a price of 14.20 TWD (overvalued). Cautious scenario 4.08 TWD, optimistic scenario 5.83 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Inalways (5398)?
Inalways reported trailing-twelve-month revenue of about 233M TWD (latest available figure, as of Aug 15, 2026).
What is the net profit margin of 5398?
The net profit margin of Inalways is about 6.9%, meaning it keeps roughly 6.9% of revenue as net income. Based on the latest reported figures.
Does Inalways pay a dividend?
Inalways currently shows a dividend yield of about 0.77% relative to its recent price (as of Aug 15, 2026).
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