Te Chang Construction Co (5511) Fair Value & Analysis
Industrials · TW · Market cap 9.7B TWD
Fair value as of: Jul 21, 2026
From 24 valuation models · updated 20 days ago
Fair value updated Jul 21, 2026, revised from 180.91 TWD to 150.90 TWD (−16.6%) since Jun 25, 2026. Share price +13.0% over the past month.
A solid business, screening 111% undervalued on our models.
What matters now
- The rarer combination: high quality (73/100) AND below fair value. That earns a closer look rather than a quick verdict.
- The price is below even our cautious bear case (113.17 TWD). The market is more pessimistic than our downside scenario.
- A fairly wide model range (113.17 TWD to 247.46 TWD) leaves room in how you read the outcome.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 21, 2026.
How to read this chart
60‑month range 17.02 TWD – 1,790 TWD · fair‑value band 113.17 TWD – 247.46 TWD · the 71.50 TWD price screens below the 150.90 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 21, 2026.
Analysis
Te Chang Construction Co (5511) currently trades at 71.50 TWD, while our model-based Fair Value estimate is 150.90 TWD, implying the stock looks roughly 111.1% undervalued today. The Quality Score stands at 73/100 (solid quality), in the Industrials 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, Te Chang Construction Co generated revenue of 11.6B TWD at a net margin of 11.8%. Revenue grew 27.4% year over year. It earns a return on equity of 19.8%. Net debt stands at 504M TWD. Fundamentals as of Jul 21, 2026
Our scenario range runs from 113.17 TWD (bear case) to 247.46 TWD (bull case); at 71.50 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 7% below its 52-week high and 29% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at -45% fair-value upside, at 111%, 5511 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.
All 24 models by family
Widest divergence: DCF Models (229.03 TWD) versus Asset-Based (33.93 TWD). Highest evidence: Growth DCF (80).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 21, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 71 · Market factors (momentum, volatility) 61
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
Te Chang Construction Co., Ltd. engages in the construction contracting and civil engineering business in Taiwan and Thailand.
Full company description
Te Chang Construction Co., Ltd. engages in the construction contracting and civil engineering business in Taiwan and Thailand. The company undertakes various projects, such as public buildings, hospital, school, social housing, redevelopment of national housing and military dependents' villages, technology plants, commercial buildings, office buildings, civil engineering, and other projects. It also provides electrical, mechanical, fire-fighting, and air-conditioning equipment engineering services; construction planning, design, and management services; and general advertisement services. In addition, the company is involved in the rental and sale of residential and buildings; wastewater treatment and integrated manufacturing business; operates general retail and department stores; manufactures tires, bicycles, and bicycle parts, as well as mortar, ready-mixed concrete, and household stones; wholesales and retails building materials; and trades in real estate. Te Chang Construction Co., Ltd. was founded in 1986 and is based in Taichung, Taiwan.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Te Chang Construction Co reported revenue of 11.1B TWD in FY2025 versus 6.2B TWD in FY2021, a compound +15.8%/yr. Reported net income was 1.2B TWD in FY2025, compounding +26.5%/yr from FY2021.
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Peer Group
Engineering & Construction · 839 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.
Valuation Multiples vs Engineering & Construction median · lower = cheaper
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.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Engineering & Construction stocks, each showing price versus our Fair Value estimate (as of Jul 21, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Larsen & Toubro Limited LT | ₹3,815 | ₹1,994 | -48% |
| Samsung C&T Corporation 028260 | 346,000 KRW | 268,779 KRW | -22% |
| Hyundai Engineering & Construction Co 000720 | 99,000 KRW | 63,993 KRW | -35% |
| United Integrated Services Co 2404 | 1,250 TWD | 925.62 TWD | -26% |
| Samsung E&A Co 028050 | 42,550 KRW | 44,840 KRW | +5% |
| Rail Vikas Nigam Limited RVNL | ₹232.67 | ₹61.46 | -74% |
| Daewoo Engineering & Construction Co 047040 | 16,240 KRW | 6,507 KRW | -60% |
| NBCC (India) Limited NBCC | ₹96.32 | ₹48.22 | -50% |
| Cemindia Projects Limited CEMPRO | ₹1,330 | ₹730.69 | -45% |
| KEPCO Engineering & Construction Company 052690 | 92,700 KRW | 20,172 KRW | -78% |
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Frequently asked questions
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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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