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Sheng Yi Development Co (5455) Fair Value & Analysis

Real Estate · TW · Market cap 1.8B TWD

SY Sheng Yi Development Co 5455 · TWO
Price28.70 TWD
Fair Value52.47 TWD
Upside+82.8%
Quality39/100
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Expensive Growth
Solidly profitable · 12.2% net margin
negative free cash flow
Mixed vs. peers (6/11)
Narrow moat 35/100
Evidence: High Range 32.87 TWD – 72.08 TWD Share as image

Fair value as of: Jul 23, 2026

From 7 valuation models · updated 18 days ago

Share price +4.4% over the past month.

Below-average quality, screening 83% undervalued on our models.

What matters now

  • The large discount to fair value meets weak quality (39/100). That raises the risk this is a value trap rather than a bargain.
  • The price is below even our cautious bear case (32.87 TWD). The market is more pessimistic than our downside scenario.
  • A fairly wide model range (32.87 TWD to 72.08 TWD) leaves room in how you read the outcome.
  • As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
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Price vs Fair Value (5 years)

90.70 TWD 17.50 TWD Fair Value 52.47 TWD Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 23, 2026.

How to read this chart

60‑month range 17.50 TWD – 90.70 TWD · fair‑value band 32.87 TWD – 72.08 TWD · the 28.70 TWD price screens below the 52.47 TWD fair value. Dashed = 300-day average. As of Jul 23, 2026.

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Analysis

Sheng Yi Development Co (5455) currently trades at 28.70 TWD, while our model-based Fair Value estimate is 52.47 TWD, implying the stock looks roughly 82.8% undervalued today. The Quality Score stands at 39/100 (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, Sheng Yi Development Co generated revenue of 1.8B TWD at a net margin of 12.2%. It earns a return on equity of 17.1%. Net debt stands at 1.7B TWD. The stock trades on a trailing P/E of 7.8. Fundamentals as of Jul 23, 2026

Our scenario range runs from 32.87 TWD (bear case) to 72.08 TWD (bull case); at 28.70 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 25% below its 52-week high and 30% above its 52-week low, currently above its 200-day average. For context, the median of 10 Real Estate peers we cover trades at 32% fair-value upside, at 83%, 5455 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
Residual Income 20.52 TWD 26.36 TWD 66.27 TWD 61
P/S Multiple 44.10 TWD 58.80 TWD 73.50 TWD 58
P/B Multiple 31.61 TWD 42.15 TWD 52.69 TWD 55
All 7 models by family
Multiples
P/S Multiple 44.10 TWD 58.80 TWD 73.50 TWD 58
P/B Multiple 31.61 TWD 42.15 TWD 52.69 TWD 55
EV/EBIT 75.97 TWD 101.27 TWD 126.58 TWD 53
EV/EBITDA 58.87 TWD 78.48 TWD 98.09 TWD 54
EV/Revenue 41.92 TWD 59.87 TWD 77.81 TWD 43
Asset-Based
NCAV (Graham) 10.54 TWD 14.12 TWD 21.08 TWD 50
Economic Profit
Residual Income 20.52 TWD 26.36 TWD 66.27 TWD 61

Widest divergence: Multiples (59.87 TWD) versus Asset-Based (14.12 TWD). Highest evidence: Residual Income (61).

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Key figures & financial health

Revenue (TTM) 1.8B TWD
Revenue growth (YoY) -97.4%
Net margin 12.2%
Return on equity 17.1%
Free cash flow −494M TWD FY2025
P/E ratio 8.1
More key figures
Operating margin -101%
EPS (TTM) 3.46 TWD
Net debt 1.7B TWD FY2025

Figures from reported company fundamentals · as of Jul 23, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 39/100

Of which business quality 38 · Market factors (momentum, volatility) 51

Profitability 41
Margins and returns on capital today
Quality Growth 25
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 45
Balance sheet, leverage, solvency risk
Investment 56
Disciplined investing over empire-building
Low Volatility 82
Calm price path (market factor)
Momentum 38
Price trend over the last 3–12 months (market factor)
52W Momentum 39
Distance to the 52-week high (market factor)
Net Issuance 82
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.

About the company

Sheng Yi Development Co.,Ltd operates as real estate development company in Taiwan. It engages in the construction of residential buildings and apartments for rent or sale; sale of building materials; leases and sells interior decoration; and leasing of real estate, as well as involved in the wholesale of building materials.

Full company description

Sheng Yi Development Co.,Ltd operates as real estate development company in Taiwan. It engages in the construction of residential buildings and apartments for rent or sale; sale of building materials; leases and sells interior decoration; and leasing of real estate, as well as involved in the wholesale of building materials. The company was formerly known as Signality System Engineering Co., Ltd. and changed its name to Sheng Yi Development Co.,Ltd in June 2017. The company was founded in 1980 and is based in Hsinchu City, Taiwan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Sheng Yi Development Co reported revenue of 2.0B TWD in FY2025 versus 62.9M TWD in FY2021, a compound +138.7%/yr. Reported net income was 227M TWD in FY2025.

Growth Quality 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
2.0B TWD
Latest YoY
−43.6%
Avg. 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.
+50.5%
Revenue +138.7%/yr
FY21 62.9M TWD
FY22 600M TWD
FY23 1.6B TWD
FY24 3.6B TWD
FY25 2.0B TWD
Net income
FY21 −6.1M TWD
FY22 59.7M TWD
FY23 166M TWD
FY24 382M TWD
FY25 227M TWD

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Cite: Fair Value Calculator (2026). "Sheng Yi Development Co Fair Value". https://www.fairvalue-calculator.com/stock/5455

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.

Quality Score 39 · Below median
Fair Value upside +83% · Above median
Return on equity (TTM) 17% · Top 25%
Return on assets 4% · Top 25%
Net margin (TTM) 12% · Above median
Operating margin (TTM) -101% · Bottom 25%
Revenue growth -97% · Bottom 25%

Valuation Multiples vs Real Estate - Development median · lower = cheaper

P/E (TTM) 8.1× · Cheaper than median
P/B 1.33× · Pricier than 75% of peers
P/S (TTM) 1.04× · Pricier than median
EV/EBITDA 6.4× · 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.

VALUE 100 · sector 48
FUTURE 0 · sector 0
PAST 68 · sector 10
HEALTH 0 · sector 84
DIVIDEND 0 · sector 38

Insider activity: 45/100

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

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 23, 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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Frequently asked questions

Is Sheng Yi Development Co (5455) overvalued or undervalued?
As of Jul 23, 2026, our model estimates a fair value of 52.47 TWD versus a price of 28.70 TWD, about +83% (undervalued).
What is the fair value of 5455?
Our model-based fair value for Sheng Yi Development Co is 52.47 TWD (as of Jul 23, 2026), built from audited fundamentals. The current price is 28.70 TWD.
What is the quality score of 5455?
Sheng Yi Development Co has a Quality Score of 39/100. 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 Sheng Yi Development Co (5455)?
Sheng Yi Development Co reported trailing-twelve-month revenue of about 1.8B TWD (latest available figure, as of Jul 23, 2026).
What is the net profit margin of 5455?
The net profit margin of Sheng Yi Development Co is about 12.2%, meaning it keeps roughly 12.2% of revenue as net income. 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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