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Farglory Land Development Co (5522) Fair Value & Analysis

Real Estate · TW · Market cap 53.6B TWD

FL Farglory Land Development Co 5522 · TW
Price64.10 TWD
Fair Value126.70 TWD
Upside+97.7%
Quality75/100
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Healthy Growth
Highly profitable · 20.4% net margin
Low debt · generates free cash flow
8.20% dividend yield
Ranks above peers (12/15)
Moderate moat 63/100
Evidence: High Range 95.02 TWD – 158.37 TWD Share as image

Fair value as of: Jul 21, 2026

From 16 valuation models · updated 19 days ago

Share price +0.2% over the past month.

A strong business, screening 98% undervalued on our models.

What matters now

  • The rarer combination: high quality (75/100) AND below fair value. That earns a closer look rather than a quick verdict.
  • The price is below even our cautious bear case (95.02 TWD). The market is more pessimistic than our downside scenario.
  • As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
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Price vs Fair Value (5 years)

84.30 TWD 33.97 TWD Fair Value 126.70 TWD Mar 2021 Aug 2026

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 33.97 TWD – 84.30 TWD · fair‑value band 95.02 TWD – 158.37 TWD · the 64.10 TWD price screens below the 126.70 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.

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Analysis

Farglory Land Development Co (5522) currently trades at 64.10 TWD, while our model-based Fair Value estimate is 126.70 TWD, implying the stock looks roughly 97.7% undervalued today. The Quality Score stands at 75/100 (high quality), in the Real Estate 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, Farglory Land Development Co generated revenue of 36.2B TWD at a net margin of 20.4%. It earns a return on equity of 16.1%. Net debt stands at 26.0B TWD. The stock trades on a trailing P/E of 10.8. Fundamentals as of Jul 21, 2026

Our scenario range runs from 95.02 TWD (bear case) to 158.37 TWD (bull case); at 64.10 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 24% below its 52-week high and 21% above its 52-week low, currently below its 200-day average. For context, the median of 10 Real Estate peers we cover trades at 32% fair-value upside, at 98%, 5522 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
Growth DCF 121.04 TWD 167.92 TWD 232.69 TWD 80
Residual Income 59.12 TWD 68.94 TWD 132.42 TWD 76
Rev-Margin DCF 102.87 TWD 151.04 TWD 203.78 TWD 74
All 16 models by family
DCF Models
FCF DCF 118.19 TWD 169.25 TWD 243.30 TWD 38
5Y Revenue Exit 102.87 TWD 149.93 TWD 208.01 TWD 39
5Y EBITDA Exit 121.85 TWD 184.11 TWD 254.15 TWD 41
10Y Revenue Exit 104.94 TWD 148.34 TWD 202.55 TWD 36
10Y EBITDA Exit 119.48 TWD 171.60 TWD 236.56 TWD 37
Dividend Discount
Gordon GGM 19.28 TWD 36.97 TWD 62.28 TWD 70
DDM Multi-Stage 19.28 TWD 29.33 TWD 40.21 TWD 61
Multiples
P/S Multiple 95.02 TWD 126.70 TWD 158.37 TWD 58
P/B Multiple 95.02 TWD 126.70 TWD 158.37 TWD 55
EV/EBIT 172.56 TWD 226.83 TWD 281.11 TWD 53
EV/EBITDA 139.65 TWD 182.95 TWD 226.26 TWD 54
EV/Revenue 99.53 TWD 138.02 TWD 176.50 TWD 43
Asset-Based
NCAV (Graham) 32.31 TWD 43.29 TWD 64.61 TWD 50
Growth DCF
Growth DCF 121.04 TWD 167.92 TWD 232.69 TWD 80
Rev-Margin DCF 102.87 TWD 151.04 TWD 203.78 TWD 74
Economic Profit
Residual Income 59.12 TWD 68.94 TWD 132.42 TWD 76

Widest divergence: DCF Models (169.25 TWD) versus Dividend Discount (29.33 TWD). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 36.2B TWD
Revenue growth (YoY) +798%
Net margin 20.4%
Return on equity 16.1%
Free cash flow 7.8B TWD FY2025
P/E ratio 10.8
More key figures
Operating margin 26.7%
EPS (TTM) 7.44 TWD
Dividend yield 6.9%
EPS growth (YoY) +540%
Net debt 26.0B TWD FY2025

Figures from reported company fundamentals · as of Jul 21, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 75/100

Of which business quality 72 · Market factors (momentum, volatility) 58

Profitability 40
Margins and returns on capital today
Quality Growth 85
Are margins and returns improving?
Cashflow 86
Earnings quality: real cash, not paper profit
Fin. Strength 66
Balance sheet, leverage, solvency risk
Investment 86
Disciplined investing over empire-building
Low Volatility 82
Calm price path (market factor)
Momentum 46
Price trend over the last 3–12 months (market factor)
52W Momentum 50
Distance to the 52-week high (market factor)
Net Issuance 82
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

Farglory Land Development Co., Ltd., together with its subsidiary, Farglory Construction Co., Ltd., develops real estate properties in Taiwan. The company operates through two segments, Land and Construction.

Full company description

Farglory Land Development Co., Ltd., together with its subsidiary, Farglory Construction Co., Ltd., develops real estate properties in Taiwan. The company operates through two segments, Land and Construction. It sells and leases commercial buildings and public housing constructed by commissioned construction contractors; and contracts building, civil, and hydraulic engineering projects. The company was formerly known as Metropolitan Construction Co., Ltd. and changed its name to Farglory Land Development Co., Ltd. in December 2005. Farglory Land Development Co., Ltd. was incorporated in 1978 and is based in Taipei, Taiwan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Farglory Land Development Co reported revenue of 31.2B TWD in FY2025 versus 33.1B TWD in FY2021, a compound −1.5%/yr. Reported net income was 5.8B TWD in FY2025, compounding −1.1%/yr from FY2021.

Growth Quality 74/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
31.2B TWD
Latest YoY
+39.1%
Avg. growth/yr (3Y)
+5.4%
Avg. growth/yr (5Y)
+3.0%
Avg. growth/yr (24Y)
+5.5%
Revenue −1.5%/yr
FY21 33.1B TWD
FY22 26.6B TWD
FY23 21.8B TWD
FY24 22.4B TWD
FY25 31.2B TWD
Net income −1.1%/yr
FY21 6.1B TWD
FY22 5.5B TWD
FY23 3.7B TWD
FY24 3.4B TWD
FY25 5.8B TWD

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Cite: Fair Value Calculator (2026). "Farglory Land Development Co Fair Value". https://www.fairvalue-calculator.com/stock/5522

Peer Group

Real Estate - Development · 588 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 76 · Top 25%
Fair Value upside +98% · Top 25%
Return on equity (TTM) 16% · Top 25%
Return on assets 5% · Top 25%
Net margin (TTM) 20% · Top 25%
Operating margin (TTM) 27% · Top 25%
Revenue growth 798% · Top 25%
Dividend yield (TTM) 8.2% · Top 25%
Debt / equity 0.08× · Lower than median

Valuation Multiples vs Real Estate - Development median · lower = cheaper

P/E (TTM) 9.2× · Cheaper than median
P/B 1.06× · Pricier than median
P/S (TTM) 1.48× · Pricier than median
P/FCF 0.2× · Cheaper than median
EV/EBITDA 4.9× · Cheaper than 75% of peers
PEG 2.95× · Pricier 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 100 · sector 48
FUTURE 100 · sector 0
PAST 64 · sector 10
HEALTH 96 · sector 84
DIVIDEND 100 · sector 38

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 Real Estate - Development stocks, each showing price versus our Fair Value estimate (as of Jul 21, 2026).

Stock Price Fair Value vs Fair Value
DLF Limited DLF ₹657.75 ₹159.49 -76%
Lodha Developers Limited LODHA ₹1,188 ₹583.43 -51%
PT Pantai Indah Kapuk Dua Tbk, PANI 6,125 IDR 1,330 IDR -78%
Oberoi Realty Limited OBEROIRLTY ₹1,925 ₹1,183 -39%
Godrej Properties Limited GODREJPROP ₹2,102 ₹1,044 -50%
PT Jaya Real Property, Tbk., JRPT 1,080 IDR 1,674 IDR +55%
PT Bumi Serpong Damai Tbk, BSDE 555.00 IDR 1,388 IDR +150%
PT Sentul City Tbk, BKSL 64.00 IDR 84.16 IDR +32%
PT Ciputra Development Tbk, CTRA 555.00 IDR 1,388 IDR +150%
PT Duta Pertiwi Tbk DUTI 4,100 IDR 6,239 IDR +52%

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Frequently asked questions

Is Farglory Land Development Co (5522) overvalued or undervalued?
As of Jul 21, 2026, our model estimates a fair value of 126.70 TWD versus a price of 64.10 TWD, about +98% (undervalued).
What is the fair value of 5522?
Our model-based fair value for Farglory Land Development Co is 126.70 TWD (as of Jul 21, 2026), built from audited fundamentals. The current price is 64.10 TWD.
What is the quality score of 5522?
Farglory Land Development Co has a Quality Score of 75/100. 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 Farglory Land Development Co (5522)?
Farglory Land Development Co reported trailing-twelve-month revenue of about 36.2B TWD (latest available figure, as of Jul 21, 2026).
What is the net profit margin of 5522?
The net profit margin of Farglory Land Development Co is about 20.4%, meaning it keeps roughly 20.4% of revenue as net income. Based on the latest reported figures.
Does Farglory Land Development Co pay a dividend?
Farglory Land Development Co currently shows a dividend yield of about 6.88% relative to its recent price (as of Jul 21, 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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