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Kung Sing Engineering Corporation (5521) Fair Value & Analysis

Industrials · TW · Market cap 5.0B TWD

KS Kung Sing Engineering Corporation 5521 · TW
Price10.35 TWD
Fair Value10.83 TWD
Upside+4.6%
Quality68/100
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Healthy Growth
Thin margins · 3.4% net margin
Low debt · generates free cash flow
1.48% dividend yield
Ranks above peers (8/13)
Narrow moat 30/100
Evidence: High Range 8.12 TWD – 13.54 TWD Share as image

Fair value as of: Jul 23, 2026

From 26 valuation models · updated 18 days ago

Share price −2.4% over the past month.

A solid business, currently priced close to our fair value.

What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • Our model range runs from 8.12 TWD (bear) to 13.54 TWD (bull), base 10.83 TWD. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 68/100 (solid quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

27.35 TWD 6.26 TWD Fair Value 10.83 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 6.26 TWD – 27.35 TWD · fair‑value band 8.12 TWD – 13.54 TWD · the 10.35 TWD price screens below the 10.83 TWD fair value. Dashed = 300-day average. As of Jul 23, 2026.

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Analysis

Kung Sing Engineering Corporation (5521) currently trades at 10.35 TWD, while our model-based Fair Value estimate is 10.83 TWD, implying the stock looks roughly 4.6% fairly valued today. The Quality Score stands at 68/100 (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, Kung Sing Engineering Corporation generated revenue of 9.5B TWD at a net margin of 3.4%. Revenue grew 21.3% year over year. It earns a return on equity of 5.9%. The balance sheet holds a net cash position of 7.6B TWD. Fundamentals as of Jul 23, 2026

Our scenario range runs from 8.12 TWD (bear case) to 13.54 TWD (bull case); at 10.35 TWD, the current price sits within 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 63% below its 52-week high and 7% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -45% fair-value upside, at 5%, 5521 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 80.59 TWD 120.07 TWD 181.32 TWD 80
Residual Income 8.49 TWD 8.43 TWD 7.65 TWD 76
Rev-Margin DCF 42.56 TWD 49.89 TWD 59.28 TWD 74
All 26 models by family
DCF Models
FCF DCF 80.66 TWD 122.82 TWD 190.06 TWD 38
Owner Earnings 25.52 TWD 30.50 TWD 38.43 TWD 31
5Y Revenue Exit 42.56 TWD 48.91 TWD 55.77 TWD 39
5Y EBITDA Exit 43.78 TWD 51.36 TWD 59.38 TWD 41
5Y P/E Exit 44.47 TWD 52.73 TWD 61.03 TWD 38
10Y Revenue Exit 55.53 TWD 65.46 TWD 77.39 TWD 36
10Y EBITDA Exit 56.46 TWD 67.18 TWD 80.24 TWD 37
10Y P/E Exit 56.90 TWD 68.14 TWD 81.55 TWD 35
Earnings-Based
Graham-Dodd 3.51 TWD 14.31 TWD 19.48 TWD 54
Lynch FV 3.59 TWD 5.13 TWD 6.66 TWD 50
PEG = 1.0 3.59 TWD 5.13 TWD 6.66 TWD 46
EPV 22.26 TWD 22.91 TWD 23.48 TWD 59
Dividend Discount
Gordon GGM 1.04 TWD 2.07 TWD 3.13 TWD 70
DDM Multi-Stage 1.04 TWD 1.79 TWD 2.18 TWD 61
Multiples
P/E Multiple 8.12 TWD 10.83 TWD 13.54 TWD 63
P/S Multiple 6.58 TWD 8.77 TWD 10.96 TWD 58
P/B Multiple 6.58 TWD 8.77 TWD 10.96 TWD 55
EV/EBIT 24.56 TWD 26.70 TWD 28.84 TWD 53
EV/EBITDA 25.11 TWD 27.43 TWD 29.76 TWD 54
EV/Revenue 22.73 TWD 24.69 TWD 26.65 TWD 43
Asset-Based
NCAV (Graham) 5.72 TWD 7.66 TWD 11.43 TWD 50
Growth DCF
Growth DCF 80.59 TWD 120.07 TWD 181.32 TWD 80
Rev-Margin DCF 42.56 TWD 49.89 TWD 59.28 TWD 74
Economic Profit
Residual Income 8.49 TWD 8.43 TWD 7.65 TWD 76
ROIC Compounder 22.26 TWD 22.91 TWD 23.48 TWD 72
Growth Earnings
Growth-Adj P/E 6.22 TWD 8.88 TWD 11.55 TWD 68

Widest divergence: DCF Models (52.73 TWD) versus Dividend Discount (1.79 TWD). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 9.5B TWD
Revenue growth (YoY) +21.3%
Net margin 3.4%
Return on equity 5.9%
Free cash flow 2.6B TWD FY2025
P/E ratio 19.6
More key figures
Operating margin 2.0%
EPS (TTM) 0.5200 TWD
Dividend yield 1.5%
EPS growth (YoY) +2,101%
Net cash 7.6B TWD FY2025

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

Quality Score breakdown

Overall quality 68/100

Of which business quality 69 · Market factors (momentum, volatility) 27

Profitability 26
Margins and returns on capital today
Quality Growth 78
Are margins and returns improving?
Cashflow 100
Earnings quality: real cash, not paper profit
Fin. Strength 67
Balance sheet, leverage, solvency risk
Investment 63
Disciplined investing over empire-building
Low Volatility 52
Calm price path (market factor)
Momentum 19
Price trend over the last 3–12 months (market factor)
52W Momentum 13
Distance to the 52-week high (market factor)
Net Issuance 88
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

Kung Sing Engineering Corporation, together with its subsidiaries, engages in the construction business in Taiwan. Its projects include bridges, buildings airports harbours, roads, subways, tunnels, and railways. The company develops houses and buildings, as well as repairs roads and bridges services.

Full company description

Kung Sing Engineering Corporation, together with its subsidiaries, engages in the construction business in Taiwan. Its projects include bridges, buildings airports harbours, roads, subways, tunnels, and railways. The company develops houses and buildings, as well as repairs roads and bridges services. In addition, it is involved in dredging, rust-protection, drilling, waste disposal, and fitting out work services. It also engages in the window and door installation, interior decoration, light steel frame works, glass installation, kitchenware, bathroom equipment, and painting work services. In addition, it provides water, piping, electrical, air conditioning, and fire equipment related services. Further, the company is involved in civil projects, residence and factory lease construction, community development, land levy, real estate trading, and rental services. Additionally, it engages in cement and concrete product, rail vehicle and transportation accessories business, as well as construction materials, machines, and equipment sales. Kung Sing Engineering Corporation was incorporated in 1941 and is based in Taipei City, Taiwan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Kung Sing Engineering Corporation reported revenue of 9.0B TWD in FY2025 versus 3.6B TWD in FY2021, a compound +25.8%/yr. Reported net income was 254M TWD in FY2025, compounding +63.9%/yr from FY2021.

Growth Quality 68/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
9.0B TWD
Latest YoY
+27.3%
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.
+25.0%
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.
+4.8%
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.
+2.7%
Revenue +25.8%/yr
FY21 3.6B TWD
FY22 4.6B TWD
FY23 5.3B TWD
FY24 7.1B TWD
FY25 9.0B TWD
Net income +63.9%/yr
FY21 35.2M TWD
FY22 10.8M TWD
FY23 67.3M TWD
FY24 9.7M TWD
FY25 254M TWD
Character of growth · EPS growth decomposed (2015-2025) +4.6 % p.a.
Revenue per share +0.0 pp

of which total revenue +2.7 pp · buybacks/dilution −2.8 pp

EBIT margin −0.9 pp
Tax rate +0.6 pp
Residual (interest, one-offs) +4.9 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). "Kung Sing Engineering Corporation Fair Value". https://www.fairvalue-calculator.com/stock/5521

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 68 · Top 25%
Fair Value upside +5% · Above median
Return on equity (TTM) 6% · Below median
Return on assets 2% · Below median
Net margin (TTM) 3% · Above median
Operating margin (TTM) 2% · Below median
Revenue growth 21% · Above median
Dividend yield (TTM) 1.5% · Below median
Debt / equity 0.01× · Lower than 75% of peers

Valuation Multiples vs Engineering & Construction median · lower = cheaper

P/E (TTM) 19.6× · Pricier than median
P/B 0.89× · Cheaper than median
P/S (TTM) 0.53× · Cheaper than median
P/FCF 0.1× · Cheaper than 75% of peers

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 39 · sector 16
FUTURE 100 · sector 17
PAST 23 · sector 26
HEALTH 100 · sector 94
DIVIDEND 30 · 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 Kung Sing Engineering Corporation (5521) overvalued or undervalued?
As of Jul 23, 2026, our model estimates a fair value of 10.83 TWD versus a price of 10.35 TWD, about +5% (fairly valued).
What is the fair value of 5521?
Our model-based fair value for Kung Sing Engineering Corporation is 10.83 TWD (as of Jul 23, 2026), built from audited fundamentals. The current price is 10.35 TWD.
What is the quality score of 5521?
Kung Sing Engineering Corporation has a Quality Score of 68/100. 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 Kung Sing Engineering Corporation (5521)?
Kung Sing Engineering Corporation reported trailing-twelve-month revenue of about 9.5B TWD (latest available figure, as of Jul 23, 2026).
What is the net profit margin of 5521?
The net profit margin of Kung Sing Engineering Corporation is about 3.4%, meaning it keeps roughly 3.4% of revenue as net income. Based on the latest reported figures.
Does Kung Sing Engineering Corporation pay a dividend?
Kung Sing Engineering Corporation currently shows a dividend yield of about 1.48% 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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