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Chien Kuo Construction Co (5515) Fair Value & Analysis

Industrials · TW · Market cap 8.7B TWD

CK Chien Kuo Construction Co 5515 · TW
Price44.45 TWD
Fair Value72.46 TWD
Upside+63.0%
Quality80/100
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Weak Growth
Solidly profitable · 15.7% net margin
Low debt · generates free cash flow
7.88% dividend yield
Ranks above peers (12/14)
Moderate moat 63/100
Evidence: High Range 57.06 TWD – 87.99 TWD Share as image

Fair value as of: Jul 23, 2026

From 24 valuation models · updated 18 days ago

Share price +7.9% over the past month.

A strong business, screening 63% undervalued on our models.

What matters now

  • The rarer combination: high quality (80/100) AND below fair value. That earns a closer look rather than a quick verdict.
  • The price is below even our cautious bear case (57.06 TWD). The market is more pessimistic than our downside scenario.
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Price vs Fair Value (5 years)

44.45 TWD 8.89 TWD Fair Value 72.46 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 8.89 TWD – 44.45 TWD · fair‑value band 57.06 TWD – 87.99 TWD · the 44.45 TWD price screens below the 72.46 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 23, 2026.

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Analysis

Chien Kuo Construction Co (5515) currently trades at 44.45 TWD, while our model-based Fair Value estimate is 72.46 TWD, implying the stock looks roughly 63.0% undervalued today. The Quality Score stands at 80/100 (high 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, Chien Kuo Construction Co generated revenue of 7.7B TWD at a net margin of 15.7%. Revenue grew 38.8% year over year. It earns a return on equity of 22.4%. The balance sheet holds a net cash position of 2.2B TWD. Fundamentals as of Jul 23, 2026

Our scenario range runs from 57.06 TWD (bear case) to 87.99 TWD (bull case); at 44.45 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 1% below its 52-week high and 91% 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 63%, 5515 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
Growth DCF 144.94 TWD 190.70 TWD 251.19 TWD 80
Residual Income 28.19 TWD 35.94 TWD 91.60 TWD 76
Rev-Margin DCF 80.11 TWD 100.40 TWD 123.06 TWD 74
All 24 models by family
DCF Models
FCF DCF 141.05 TWD 189.58 TWD 256.49 TWD 38
Owner Earnings 59.70 TWD 77.71 TWD 102.56 TWD 31
5Y Revenue Exit 80.11 TWD 97.82 TWD 118.57 TWD 39
5Y EBITDA Exit 82.52 TWD 102.01 TWD 122.98 TWD 41
5Y P/E Exit 99.05 TWD 130.82 TWD 162.07 TWD 38
10Y Revenue Exit 102.06 TWD 121.53 TWD 142.78 TWD 36
10Y EBITDA Exit 104.40 TWD 124.28 TWD 145.84 TWD 37
10Y P/E Exit 114.42 TWD 143.11 TWD 173.00 TWD 35
Earnings-Based
Graham-Dodd 30.48 TWD 62.41 TWD 78.70 TWD 54
EPV 35.66 TWD 39.45 TWD 42.72 TWD 59
Dividend Discount
Gordon GGM 18.88 TWD 27.20 TWD 35.58 TWD 70
DDM Multi-Stage 18.88 TWD 26.33 TWD 34.58 TWD 61
Multiples
P/E Multiple 70.60 TWD 94.13 TWD 117.66 TWD 63
P/S Multiple 52.79 TWD 70.39 TWD 87.99 TWD 58
P/B Multiple 57.15 TWD 76.20 TWD 95.25 TWD 55
EV/EBIT 57.85 TWD 73.25 TWD 88.65 TWD 53
EV/EBITDA 51.47 TWD 64.74 TWD 78.01 TWD 54
EV/Revenue 44.63 TWD 58.76 TWD 72.89 TWD 43
Asset-Based
NCAV (Graham) 13.03 TWD 17.46 TWD 26.05 TWD 50
Growth DCF
Growth DCF 144.94 TWD 190.70 TWD 251.19 TWD 80
Rev-Margin DCF 80.11 TWD 100.40 TWD 123.06 TWD 74
Economic Profit
Residual Income 28.19 TWD 35.94 TWD 91.60 TWD 76
ROIC Compounder 36.34 TWD 41.30 TWD 46.41 TWD 72
Growth Earnings
Growth-Adj P/E 51.47 TWD 73.53 TWD 95.59 TWD 68

Widest divergence: DCF Models (121.53 TWD) versus Asset-Based (17.46 TWD). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 7.7B TWD
Revenue growth (YoY) +38.8%
Net margin 15.7%
Return on equity 22.4%
Free cash flow 2.6B TWD FY2025
P/E ratio 9.9
More key figures
Operating margin 13.3%
EPS (TTM) 4.46 TWD
Dividend yield 7.6%
EPS growth (YoY) +322%
Net cash 2.2B TWD FY2025

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

Quality Score breakdown

Overall quality 80/100

Of which business quality 78 · Market factors (momentum, volatility) 89

Profitability 48
Margins and returns on capital today
Quality Growth 65
Are margins and returns improving?
Cashflow 100
Earnings quality: real cash, not paper profit
Fin. Strength 82
Balance sheet, leverage, solvency risk
Investment 74
Disciplined investing over empire-building
Low Volatility 80
Calm price path (market factor)
Momentum 89
Price trend over the last 3–12 months (market factor)
52W Momentum 98
Distance to the 52-week high (market factor)
Net Issuance 100
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

Chien Kuo Construction Co., Ltd. engages in the construction business in Taiwan and China. The company offers construction services for residential buildings, commercial/hotels, high-tech industrial facilities, healthcare/schools, and public infrastructure; and offers electrical engineering services for mechanical, electrical, and plumbing projects.

Full company description

Chien Kuo Construction Co., Ltd. engages in the construction business in Taiwan and China. The company offers construction services for residential buildings, commercial/hotels, high-tech industrial facilities, healthcare/schools, and public infrastructure; and offers electrical engineering services for mechanical, electrical, and plumbing projects. It manufactures and sells concrete products; and computer software technology development and consultation services. In addition, the company focuses on development of real estate for housing; health; and culture and leisure industry. Chien Kuo Construction Co., Ltd. was founded in 1931 and is headquartered in Taipei, Taiwan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Chien Kuo Construction Co reported revenue of 7.1B TWD in FY2025 versus 5.3B TWD in FY2021, a compound +7.4%/yr. Reported net income was 904M TWD in FY2025, compounding +22.2%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
7.1B TWD
Latest YoY
+15.9%
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.
+11.9%
Avg. 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.
+1.0%
Avg. growth/yr (23Y) 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.
+6.3%
Revenue +7.4%/yr
FY21 5.3B TWD
FY22 5.1B TWD
FY23 4.2B TWD
FY24 6.1B TWD
FY25 7.1B TWD
Net income +22.2%/yr
FY21 405M TWD
FY22 184M TWD
FY23 339M TWD
FY24 682M TWD
FY25 904M TWD
Character of growth · EPS growth decomposed (2014-2025) +23.4 % p.a.
Revenue per share +1.5 pp

of which total revenue −0.5 pp · buybacks/dilution +2.0 pp

EBIT margin +9.6 pp
Tax rate +4.6 pp
Residual (interest, one-offs) +7.8 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

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Cite: Fair Value Calculator (2026). "Chien Kuo Construction Co Fair Value". https://www.fairvalue-calculator.com/stock/5515

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.

Quality Score 80 · Top 25%
Fair Value upside +63% · Top 25%
Return on equity (TTM) 22% · Top 25%
Return on assets 5% · Top 25%
Net margin (TTM) 16% · Top 25%
Operating margin (TTM) 13% · Top 25%
Revenue growth 39% · Top 25%
Dividend yield (TTM) 7.9% · Top 25%

Valuation Multiples vs Engineering & Construction median · lower = cheaper

P/E (TTM) 9.7× · Cheaper than 75% of peers
P/B 1.66× · Pricier than median
P/S (TTM) 1.14× · Pricier than median
P/FCF 0.1× · Cheaper than 75% of peers
EV/EBITDA 6.8× · 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 16
FUTURE 100 · sector 17
PAST 90 · sector 26
HEALTH 100 · sector 94
DIVIDEND 100 · sector 33

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 Engineering & Construction stocks, each showing price versus our Fair Value estimate (as of Jul 23, 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

Is Chien Kuo Construction Co (5515) overvalued or undervalued?
As of Jul 23, 2026, our model estimates a fair value of 72.46 TWD versus a price of 44.45 TWD, about +63% (undervalued).
What is the fair value of 5515?
Our model-based fair value for Chien Kuo Construction Co is 72.46 TWD (as of Jul 23, 2026), built from audited fundamentals. The current price is 44.45 TWD.
What is the quality score of 5515?
Chien Kuo Construction Co has a Quality Score of 80/100. 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 Chien Kuo Construction Co (5515)?
Chien Kuo Construction Co reported trailing-twelve-month revenue of about 7.7B TWD (latest available figure, as of Jul 23, 2026).
What is the net profit margin of 5515?
The net profit margin of Chien Kuo Construction Co is about 15.7%, meaning it keeps roughly 15.7% of revenue as net income. Based on the latest reported figures.
Does Chien Kuo Construction Co pay a dividend?
Chien Kuo Construction Co currently shows a dividend yield of about 7.59% 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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