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Soft-World International Corporation (5478) Fair Value & Analysis

Communication Services · TW · Market cap 14.8B TWD

SW Soft-World International Corporation 5478 · TWO
Price99.50 TWD
Fair Value148.58 TWD
Upside+49.3%
Quality65/100
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Weak Growth
Solidly profitable · 19.4% net margin
generates free cash flow
5.02% dividend yield
Ranks above peers (10/13)
Wide moat 65/100
Evidence: Medium Range 123.40 TWD – 173.77 TWD Share as image

Fair value as of: Jul 23, 2026

From 22 valuation models · updated 17 days ago

Share price −2.0% over the past month.

A solid business, screening 49% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (123.40 TWD). The market is more pessimistic than our downside scenario.
  • Solid quality (65/100) at a price below fair value, the discount is the argument here, not the business quality.
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Price vs Fair Value (5 years)

169.74 TWD 54.01 TWD Fair Value 148.58 TWD Mar 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 54.01 TWD – 169.74 TWD · fair‑value band 123.40 TWD – 173.77 TWD · the 99.50 TWD price screens below the 148.58 TWD fair value. Dashed = 300-day average. As of Jul 23, 2026.

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Analysis

Soft-World International Corporation (5478) currently trades at 99.50 TWD, while our model-based Fair Value estimate is 148.58 TWD, implying the stock looks roughly 49.3% undervalued today. The Quality Score stands at 65/100 (solid quality), in the Communication Services 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: medium), always confirm before acting.

Over the trailing twelve months, Soft-World International Corporation generated revenue of 6.8B TWD at a net margin of 19.4%. Revenue grew 20.1% year over year. It earns a return on equity of 14.5%. The balance sheet holds a net cash position of 7.2B TWD. Fundamentals as of Jul 23, 2026

Our scenario range runs from 123.40 TWD (bear case) to 173.77 TWD (bull case); at 99.50 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 9% below its 52-week high and 14% above its 52-week low, currently below its 200-day average. For context, the median of 10 Communication Services peers we cover trades at -19% fair-value upside, at 49%, 5478 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 BearBaseBull Evidence
Highest evidence
Residual Income 57.10 TWD 70.71 TWD 161.42 TWD 76
Growth DCF 174.12 TWD 225.05 TWD 313.69 TWD 72
Growth-Adj P/E 92.24 TWD 131.77 TWD 171.30 TWD 68
All 22 models by family
DCF Models
FCF DCF 167.94 TWD 220.29 TWD 319.17 TWD 38
Owner Earnings 111.35 TWD 142.08 TWD 200.12 TWD 31
5Y Revenue Exit 123.90 TWD 156.61 TWD 204.44 TWD 39
5Y EBITDA Exit 123.40 TWD 155.74 TWD 199.07 TWD 41
5Y P/E Exit 152.62 TWD 206.10 TWD 270.71 TWD 38
10Y Revenue Exit 138.15 TWD 165.19 TWD 193.59 TWD 36
10Y EBITDA Exit 139.74 TWD 164.64 TWD 190.37 TWD 37
10Y P/E Exit 157.52 TWD 196.24 TWD 233.35 TWD 35
Earnings-Based
Graham-Dodd 53.93 TWD 70.87 TWD 81.41 TWD 54
EPV 90.57 TWD 100.51 TWD 109.20 TWD 59
Multiples
P/E Multiple 130.85 TWD 174.47 TWD 218.09 TWD 63
P/S Multiple 101.11 TWD 134.82 TWD 168.52 TWD 58
P/B Multiple 101.11 TWD 134.82 TWD 168.52 TWD 55
EV/EBIT 125.11 TWD 156.50 TWD 187.88 TWD 53
EV/EBITDA 106.51 TWD 131.69 TWD 156.88 TWD 54
EV/Revenue 102.35 TWD 132.96 TWD 163.56 TWD 43
Asset-Based
NCAV (Graham) 29.80 TWD 39.93 TWD 59.60 TWD 50
Growth DCF
Growth DCF 174.12 TWD 225.05 TWD 313.69 TWD 72
Rev-Margin DCF 123.90 TWD 159.80 TWD 205.23 TWD 67
Economic Profit
Residual Income 57.10 TWD 70.71 TWD 161.42 TWD 76
ROIC Compounder 90.78 TWD 103.10 TWD 115.81 TWD 67
Growth Earnings
Growth-Adj P/E 92.24 TWD 131.77 TWD 171.30 TWD 68

Widest divergence: DCF Models (164.64 TWD) versus Asset-Based (39.93 TWD). Highest evidence: Residual Income (76).

Key figures & financial health

Revenue (TTM) 6.8B TWD
Revenue growth (YoY) +20.1%
Net margin 19.4%
Return on equity 14.5%
Free cash flow 2.1B TWD FY2025
P/E ratio 11.2
More key figures
Operating margin 22.0%
EPS (TTM) 8.80 TWD
Dividend yield 5.0%
EPS growth (YoY) +61.9%
Net cash 7.2B TWD FY2023

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

Quality Score breakdown

Overall quality 65/100

Of which business quality 65 · Market factors (momentum, volatility) 60

Profitability 45
Margins and returns on capital today
Quality Growth 38
Are margins and returns improving?
Cashflow 97
Earnings quality: real cash, not paper profit
Fin. Strength 79
Balance sheet, leverage, solvency risk
Investment 75
Disciplined investing over empire-building
Low Volatility 89
Calm price path (market factor)
Momentum 47
Price trend over the last 3–12 months (market factor)
52W Momentum 47
Distance to the 52-week high (market factor)
Net Issuance 44
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

Soft-World International Corporation develops, operates, and distributes games in Taiwan and China. The company offers MyCard, which provides payment and marketing services to game publishers; e-PLAY, a product sales and marketing event organization platform; and MyCard Bonus app, a supplementary service for game publishers.It also operates the Soft-World …

Full company description

Soft-World International Corporation develops, operates, and distributes games in Taiwan and China. The company offers MyCard, which provides payment and marketing services to game publishers; e-PLAY, a product sales and marketing event organization platform; and MyCard Bonus app, a supplementary service for game publishers.It also operates the Soft-World Music Multimedia Center that has one large and six small recording rooms; Charisma Design, which provides event planning solutions comprising exhibition design, execution, and curation; and Gamexpress gaming media, which provides gaming news, as well as produces and distributes a physical monthly magazine. In addition, the company engages in the provision of commercial advertising services, wholesale and retail sale of entertainment products and accessories for game software. Soft-World International Corporation was incorporated in 1983 and is headquartered in Kaohsiung, Taiwan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Soft-World International Corporation reported revenue of 6.5B TWD in FY2025 versus 6.6B TWD in FY2021, a compound −0.3%/yr. Reported net income was 1.2B TWD in FY2025, compounding +9.4%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
6.5B TWD
Latest YoY
−3.8%
Avg. growth/yr (3Y)
+2.2%
Avg. growth/yr (5Y)
−2.2%
Avg. growth/yr (19Y)
+2.9%
Revenue −0.3%/yr
FY21 6.6B TWD
FY22 6.1B TWD
FY23 6.2B TWD
FY24 6.8B TWD
FY25 6.5B TWD
Net income +9.4%/yr
FY21 830M TWD
FY22 836M TWD
FY23 860M TWD
FY24 1.1B TWD
FY25 1.2B TWD

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Cite: Fair Value Calculator (2026). "Soft-World International Corporation Fair Value". https://www.fairvalue-calculator.com/stock/5478

Peer Group

Electronic Gaming & Multimedia · 152 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 65 · Above median
Fair Value upside +49% · Above median
Return on equity (TTM) 15% · Above median
Return on assets 4% · Above median
Net margin (TTM) 19% · Above median
Operating margin (TTM) 22% · Top 25%
Revenue growth 20% · Above median
Dividend yield (TTM) 5.0% · Top 25%

Valuation Multiples vs Electronic Gaming & Multimedia median · lower = cheaper

P/E (TTM) 11.2× · Cheaper than 75% of peers
P/B 1.65× · Pricier than median
P/S (TTM) 2.16× · Pricier than median
P/FCF 0.2× · Cheaper than median
EV/EBITDA 7.4× · Pricier 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 99 · sector 17
FUTURE 100 · sector 10
PAST 58 · sector 11
HEALTH 0 · sector 99
DIVIDEND 100 · sector 41

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 Electronic Gaming & Multimedia stocks, each showing price versus our Fair Value estimate (as of Jul 23, 2026).

Stock Price Fair Value vs Fair Value
NetEase, Inc 9999 HK$202.60 HK$192.74 -5%
Electronic Arts Inc EA $207.27 $76.57 -63%
Take-Two Interactive Software, Inc TTWO $237.04 $60.45 -74%
Roblox Corporation RBLX $57.07 $21.20 -63%
Zhejiang Century Huatong Group 002602 ¥14.04 ¥14.68 +5%
KRAFTON, Inc 259960 240,500 KRW 395,557 KRW +64%
Kunlun Tech Co 300418 ¥44.61 ¥6.87 -85%
Giant Network Group 002558 ¥29.98 ¥15.69 -48%
International Games System Co 3293 704.00 TWD 568.16 TWD -19%
37 Interactive Entertainment Network Technology Group 002555 ¥19.02 ¥22.29 +17%

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Frequently asked questions

Is Soft-World International Corporation (5478) overvalued or undervalued?
As of Jul 23, 2026, our model estimates a fair value of 148.58 TWD versus a price of 99.50 TWD, about +49% (undervalued).
What is the fair value of 5478?
Our model-based fair value for Soft-World International Corporation is 148.58 TWD (as of Jul 23, 2026), built from audited fundamentals. The current price is 99.50 TWD.
What is the quality score of 5478?
Soft-World International Corporation has a Quality Score of 65/100. 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 Soft-World International Corporation (5478)?
Soft-World International Corporation reported trailing-twelve-month revenue of about 6.8B TWD (latest available figure, as of Jul 23, 2026).
What is the net profit margin of 5478?
The net profit margin of Soft-World International Corporation is about 19.4%, meaning it keeps roughly 19.4% of revenue as net income. Based on the latest reported figures.
Does Soft-World International Corporation pay a dividend?
Soft-World International Corporation currently shows a dividend yield of about 4.83% relative to its recent price (as of Jul 23, 2026).

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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