Chien Kuo Construction Co Ltd (5515) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Chien Kuo Construction Co Ltd TWD 72.46, price TWD 52.70, upside +37.5%, quality 80 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range 8.89 TWD – 55.70 TWD · fair‑value band 56.87 TWD – 87.99 TWD · the 52.70 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 Sep 24, 2026.
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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.
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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.
Stock analysis
Chien Kuo Construction Co Ltd (5515) currently trades at 52.70 TWD, while our model-based Fair Value estimate is 72.46 TWD, implying the stock looks roughly 27.3% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 105.85 TWD per share, and 18 of the 24 models we run sit above the 52.70 TWD price.
Bear case: the Asset-Based group reads lowest at 17.46 TWD, and 6 of the 24 models stay below the price. Evidence for this calculation is high.
Scenario range: 56.87 TWD (bear) to 87.99 TWD (bull), the price of 52.70 TWD sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 80/100 (high quality), in the Industrials sector.
Weak Growth: Revenue growth is weak: less than 2 % a year.
Chien Kuo Construction Co Ltd 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.
Key figures
Market cap 10.6B TWD (≈ $335M) · P/E ratio 11.8 · P/S ratio 1.50 · EPS (TTM) 4.46 TWD · Dividend yield 6.3% · Net margin 12.7% · Return on equity 22.4% · Return on assets (EBIT) 4.2%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 52 out of 100 (low confidence).
What moves the price
The share trades about 5% below its 52-week high and 140% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −31% fair-value upside, at 38%, 5515 screens cheaper than that median.
Fair Value models
Bear 56.87 TWDFair Value 72.46 TWDBull 87.99 TWD
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (0.8517 TWD per share) are deliberately not added.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 ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.40/100
Revenue growth is weak: less than 2 % a year.
Revenue growth 1 year
+15.9%
Revenue growth 3 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+11.9%
Revenue growth 5 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+1.0%
Start year 2020 (pandemic). Over 10 years: +3.5% a year
Revenue growth 23 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+6.3%
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What shareholders gained per year (last 5 years), in TWD (mathematically smoothed) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip. 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.
+32.0%
Earnings growth per share plus dividend.
Earnings per share, growth per year+25.7%
Dividend (yield on the price)6.3%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.26% vs 27%, steady
Profit margin 2018 to 2025 ⓘ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.5% → 10%
2025 sits 234% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
Start year 2020 (pandemic)
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
−34.2%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Taiwan: IMF forecast 1.6% a year to 2030, 1.5% from 2016 to 2025) that is about −35.2% a year for the price.
Compare Chien Kuo Construction Co Ltd with another stock
Price, fair value, quality and upside side by side.
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Peer Groupⓘ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.Engineering & Construction · 840 stocks
Beats the industry median on 10/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score80 · Top 25%
Fair Value upside+38% · Above median
Profitability
Return on equity (TTM)22% · Top 25%
Return on assets5% · Top 25%
Net margin (TTM)16% · Top 25%
Operating margin (TTM)13% · Top 25%
Growth and dividend
Revenue growth39% · Top 25%
Dividend yield (TTM)6.3% · Top 25%
Valuation Multiplesvs Engineering & Construction median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Chien Kuo Construction Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/5515
Frequently asked questions
Is Chien Kuo Construction Co Ltd (5515) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 72.46 TWD versus a price of 52.70 TWD, about +38% upside (undervalued).
What is the fair value of 5515?
Our model-based fair value for Chien Kuo Construction Co Ltd is 72.46 TWD (as of Sep 24, 2026), built from audited fundamentals. The current price: 52.70 TWD.
What is the quality score of 5515?
Chien Kuo Construction Co Ltd 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 price target for Chien Kuo Construction Co Ltd (5515)?
Our model-based price target is the fair value of 72.46 TWD (as of Sep 24, 2026) from 24 valuation models. Cautious scenario 56.87 TWD, optimistic scenario 87.99 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Chien Kuo Construction Co Ltd stock forecast for 2026?
Our models put fair value at 72.46 TWD, about +38% upside versus a price of 52.70 TWD (undervalued). Cautious scenario 56.87 TWD, optimistic scenario 87.99 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Chien Kuo Construction Co Ltd (5515)?
Chien Kuo Construction Co Ltd reported trailing-twelve-month revenue of about 7.7B TWD (latest available figure, as of Sep 24, 2026).
Does Chien Kuo Construction Co Ltd pay a dividend?
Chien Kuo Construction Co Ltd currently shows a dividend yield of about 6.26% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Chien Kuo Construction Co Ltd (5515)?
For today's price to be fair in a discounted-cash-flow model, Chien Kuo Construction Co Ltd would have to grow free cash flow by -34.2 % per year for five years (discount rate 11.8 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +1.0 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 5515 use?
Our models discount Chien Kuo Construction Co Ltd at 11.8 %: a base by market capitalisation (micro), damped by beta 0.18, country premium for Taiwan. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Chien Kuo Construction Co Ltd that is -34.2 % per year a year over ten years, using the same discount rate (11.8 %) and the same formula as our fair value.
How much growth has Chien Kuo Construction Co Ltd (5515) delivered so far?
Over the past 5 years revenue at Chien Kuo Construction Co Ltd grew +1.0 % a year. The price currently implies -34.2 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Chien Kuo Construction Co Ltd (5515) growing?
The median revenue growth in the sector is +4.7 % a year. That is the yardstick for the growth priced into Chien Kuo Construction Co Ltd (-34.2 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Chien Kuo Construction Co Ltd (5515)?
The free-cash-flow yield on the price is 24.79 %: that much free cash flow Chien Kuo Construction Co Ltd produces per unit of market value. When it exceeds the discount rate of our models (11.8 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Chien Kuo Construction Co Ltd (5515)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Chien Kuo Construction Co Ltd it is 72.46 TWD per share (as of Sep 24, 2026), against a price of 52.70 TWD. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Chien Kuo Construction Co Ltd stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 5515 trades below its calculated fair value: price 52.70 TWD, fair value 72.46 TWD, a gap of about +38% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 5515?
No. The price is what the market pays today (52.70 TWD); the fair value is what the company's own numbers justify (72.46 TWD). For Chien Kuo Construction Co Ltd the two are 19.76 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Chien Kuo Construction Co Ltd worth?
The market values Chien Kuo Construction Co Ltd at about 10.6B TWD (market capitalisation, as of Sep 24, 2026). Per share that is 52.70 TWD; our models calculate a fair value of 72.46 TWD per share.
What do the bullish and bearish scenarios say about 5515?
Our models span a range for Chien Kuo Construction Co Ltd: cautious scenario 56.87 TWD, base 72.46 TWD, optimistic 87.99 TWD per share (as of Sep 24, 2026, price 52.70 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 5515?
Chien Kuo Construction Co Ltd trades at a price-to-earnings ratio of 11.8 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 72.46 TWD is built from several models across several years. Other multiples: P/B 2.0, P/S 1.4, EV/EBITDA 8.9.
How solid is the balance sheet of Chien Kuo Construction Co Ltd (5515)?
Balance-sheet figures for Chien Kuo Construction Co Ltd (as of Sep 24, 2026): return on equity 22.4%. They feed the Quality Score of 80/100, which measures business quality independently of the share price.
How far is 5515 from its 52-week high?
Chien Kuo Construction Co Ltd trades at 52.70 TWD, about 5% below its 52-week high of 55.70 TWD and 140% above the low of 22.00 TWD (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 72.46 TWD is for.
Which stocks are comparable to Chien Kuo Construction Co Ltd?
From the same area (Industrials) we also value Quanta Services, Inc, Vinci SA, Comfort Systems USA, Inc, Larsen & Toubro Limited, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Chien Kuo Construction Co Ltd stock attractive at the current price?
The data as of Sep 24, 2026: price 52.70 TWD, calculated fair value 72.46 TWD (+38%), Quality Score 80/100, from 24 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 5515 calculated?
We run Chien Kuo Construction Co Ltd through 24 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of 72.46 TWD, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.0 % above its aggregate fair value. Chien Kuo Construction Co Ltd currently trades 38 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Chien Kuo Construction Co Ltd (5515)?
The closing price on Sep 24, 2026 was 52.70 TWD. Our model-based fair value is 72.46 TWD, about +38% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Chien Kuo Construction Co Ltd right 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 (56.87 TWD). The market is more pessimistic than our downside scenario.
Where does the earnings growth of Chien Kuo Construction Co Ltd (5515) come from?
Earnings per share at Chien Kuo Construction Co Ltd grew +23.4 % a year from 2014 to 2025. Broken into its drivers: revenue per share +1.5 %, EBIT margin +9.6 %, tax rate +4.6 %, residual (interest, one-offs) +6.1 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Chien Kuo Construction Co Ltd
How large is the market capitalisation of Chien Kuo Construction Co Ltd (5515)?
The market capitalisation of Chien Kuo Construction Co Ltd is 10.6B TWD (≈ $335M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Chien Kuo Construction Co Ltd (5515)?
The price-to-sales ratio of Chien Kuo Construction Co Ltd is 1.50 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Chien Kuo Construction Co Ltd (5515)?
Earnings per share at Chien Kuo Construction Co Ltd are 4.46 TWD (price ÷ EPS = P/E 11.8). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Chien Kuo Construction Co Ltd (5515)?
The dividend yield of Chien Kuo Construction Co Ltd is 6.3% (payout 74.0%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Chien Kuo Construction Co Ltd (5515)?
The net margin of Chien Kuo Construction Co Ltd is 12.7% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Chien Kuo Construction Co Ltd (5515)?
The return on equity (ROE) of Chien Kuo Construction Co Ltd is 22.4% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Chien Kuo Construction Co Ltd (5515)?
On an EBIT basis the return on assets of Chien Kuo Construction Co Ltd is 4.2% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Chien Kuo Construction Co Ltd (5515)?
The operating margin of Chien Kuo Construction Co Ltd is 13.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Chien Kuo Construction Co Ltd (5515)?
Revenue at Chien Kuo Construction Co Ltd is growing +38.8% versus a year earlier (3y avg +11.9%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Chien Kuo Construction Co Ltd (5515)?
Earnings per share at Chien Kuo Construction Co Ltd are growing +322% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Chien Kuo Construction Co Ltd (5515) hold?
Chien Kuo Construction Co Ltd holds more cash than debt, 2.2B TWD net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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