Chong Hong Construction Co Ltd (5534) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Chong Hong Construction Co Ltd TWD 64.22, price TWD 73.90, upside -13.1%, quality 42 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Chong Hong Construction Co., Ltd., together with its subsidiaries, engages in the construction, sale, and leasing of residential and commercial buildings in Taiwan. It operates in two segments, Building and Construction. The company leases factories; and undertakes civil engineering and construction, project contracting.
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Chong Hong Construction Co., Ltd., together with its subsidiaries, engages in the construction, sale, and leasing of residential and commercial buildings in Taiwan. It operates in two segments, Building and Construction. The company leases factories; and undertakes civil engineering and construction, project contracting. It is also involved in general merchandise retail trade and department store and office rental business. In addition, the company offers rental and sale of industrial plants. Chong Hong Construction Co., Ltd. was founded in 1973 and is based in Taipei, Taiwan.
Stock analysis
Chong Hong Construction Co Ltd (5534) currently trades at 73.90 TWD, while our model-based Fair Value estimate is 64.22 TWD, implying the stock looks roughly 15.1% overvalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of 102.45 TWD per share, and 9 of the 16 models we run sit above the 73.90 TWD price.
Bear case: the Growth DCF group reads lowest at 7.96 TWD, and 7 of the 16 models stay below the price. Evidence for this calculation is high.
Scenario range: 34.81 TWD (bear) to 85.47 TWD (bull), the price of 73.90 TWD sits inside 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 42/100 (below-average quality), in the Real Estate sector.
Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.
Chong Hong Construction Co Ltd reported revenue of 8.5B TWD in FY2025 versus 4.8B TWD in FY2021, a compound +15.0%/yr. Reported net income was 1.7B TWD in FY2025, compounding +8.0%/yr from FY2021.
Key figures
Market cap 23.0B TWD (≈ $721M) · P/E ratio 12.4 · P/S ratio 2.54 · EPS (TTM) 5.98 TWD · Dividend yield 6.7% · Net margin 20.5% · Return on equity 7.3% · Return on assets (EBIT) 5.6%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 38 out of 100 (low confidence).
What moves the price
The share trades about 15% below its 52-week high and 1% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Real Estate peers we cover trades at 54% fair-value upside, at −13%, 5534 screens richer than that median.
Fair Value models
Bear 34.81 TWDFair Value 64.22 TWDBull 85.47 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 (4.37 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.32/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−29.7%
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.
−0.8%
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.
−1.6%
Start year 2020 (pandemic). Over 10 years: +10.5% 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.
+9.7%
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What shareholders gained per year (last 5 years), in TWD ⓘ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. 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.
−1.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year−8.1%
Dividend (yield on the price)6.7%
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.−8% vs −1%, slowing
Profit margin 2020 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.27% → 29%
Start year 2020 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes more 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).
+78.2%
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 +75.4% a year for the price.
Compare Chong Hong 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.Real Estate - Development · 577 stocks
Beats the industry median on 5/14 measures
Overall it trails its industry peers.
Valuation
Quality Score44 · Below median
Fair Value upside−13% · Below median
Profitability
Return on equity (TTM)7% · Above median
Return on assets3% · Above median
Net margin (TTM)19% · Above median
Operating margin (TTM)9% · Below median
Growth and dividend
Revenue growth−22% · Below median
Dividend yield (TTM)6.7% · Top 25%
Valuation Multiplesvs Real Estate - Development median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Chong Hong Construction Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/5534
Frequently asked questions
Is Chong Hong Construction Co Ltd (5534) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 64.22 TWD versus a price of 73.90 TWD, about −13% upside (overvalued).
What is the fair value of 5534?
Our model-based fair value for Chong Hong Construction Co Ltd is 64.22 TWD (as of Sep 24, 2026), built from audited fundamentals. The current price: 73.90 TWD.
What is the quality score of 5534?
Chong Hong Construction Co Ltd has a Quality Score of 42/100. 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 Chong Hong Construction Co Ltd (5534)?
Our model-based price target is the fair value of 64.22 TWD (as of Sep 24, 2026) from 16 valuation models. Cautious scenario 34.81 TWD, optimistic scenario 85.47 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Chong Hong Construction Co Ltd stock forecast for 2026?
Our models put fair value at 64.22 TWD, about −13% upside versus a price of 73.90 TWD (overvalued). Cautious scenario 34.81 TWD, optimistic scenario 85.47 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Chong Hong Construction Co Ltd (5534)?
Chong Hong Construction Co Ltd reported trailing-twelve-month revenue of about 8.2B TWD (latest available figure, as of Sep 24, 2026).
Does Chong Hong Construction Co Ltd pay a dividend?
Chong Hong Construction Co Ltd currently shows a dividend yield of about 6.69% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Chong Hong Construction Co Ltd (5534)?
For today's price to be fair in a discounted-cash-flow model, Chong Hong Construction Co Ltd would have to grow free cash flow by +78.2 % 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 -1.6 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 5534 use?
Our models discount Chong Hong Construction Co Ltd at 11.8 %: a base by market capitalisation (small), 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 Chong Hong Construction Co Ltd that is +78.2 % 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 Chong Hong Construction Co Ltd (5534) delivered so far?
Over the past 5 years revenue at Chong Hong Construction Co Ltd grew -1.6 % a year. The price currently implies +78.2 % 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 Chong Hong Construction Co Ltd (5534) growing?
The median revenue growth in the sector is +1.8 % a year. That is the yardstick for the growth priced into Chong Hong Construction Co Ltd (+78.2 % 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 Chong Hong Construction Co Ltd (5534)?
The free-cash-flow yield on the price is 0.50 %: that much free cash flow Chong Hong 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 Chong Hong Construction Co Ltd (5534)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Chong Hong Construction Co Ltd it is 64.22 TWD per share (as of Sep 24, 2026), against a price of 73.90 TWD. It is the blended result of 16 valuation models (cash flow, earnings, asset, dividend).
Is Chong Hong Construction Co Ltd stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 5534 trades above its calculated fair value: price 73.90 TWD, fair value 64.22 TWD, a gap of about −13% (overvalued). 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 5534?
No. The price is what the market pays today (73.90 TWD); the fair value is what the company's own numbers justify (64.22 TWD). For Chong Hong Construction Co Ltd the two are 9.68 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Chong Hong Construction Co Ltd worth?
The market values Chong Hong Construction Co Ltd at about 23.0B TWD (market capitalisation, as of Sep 24, 2026). Per share that is 73.90 TWD; our models calculate a fair value of 64.22 TWD per share.
What do the bullish and bearish scenarios say about 5534?
Our models span a range for Chong Hong Construction Co Ltd: cautious scenario 34.81 TWD, base 64.22 TWD, optimistic 85.47 TWD per share (as of Sep 24, 2026, price 73.90 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 5534?
Chong Hong Construction Co Ltd trades at a price-to-earnings ratio of 12.4 (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 64.22 TWD is built from several models across several years. Other multiples: PEG 0.5, P/B 1.1, P/S 2.8, EV/EBITDA 11.1.
What is the PEG ratio of 5534?
The PEG ratio of Chong Hong Construction Co Ltd is 0.47 (P/E divided by earnings growth, as of Sep 24, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Chong Hong Construction Co Ltd (5534)?
Balance-sheet figures for Chong Hong Construction Co Ltd (as of Sep 24, 2026): return on equity 7.3%. They feed the Quality Score of 42/100, which measures business quality independently of the share price.
How far is 5534 from its 52-week high?
Chong Hong Construction Co Ltd trades at 73.90 TWD, about 15% below its 52-week high of 87.00 TWD and 1% above the low of 72.90 TWD (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 64.22 TWD is for.
Which stocks are comparable to Chong Hong Construction Co Ltd?
From the same area (Real Estate) we also value Sun Hung Kai Properties Limited, China Resources Land Limited, Vinhomes Joint Stock Company, CK Asset Holdings, 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 Chong Hong Construction Co Ltd stock attractive at the current price?
The data as of Sep 24, 2026: price 73.90 TWD, calculated fair value 64.22 TWD (−13%), Quality Score 42/100, from 16 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 5534 calculated?
We run Chong Hong Construction Co Ltd through 16 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 64.22 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 13.0 % above its aggregate fair value. Chong Hong Construction Co Ltd itself currently trades above fair value. 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 Chong Hong Construction Co Ltd (5534)?
The closing price on Sep 24, 2026 was 73.90 TWD. Our model-based fair value is 64.22 TWD, about −13% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Chong Hong Construction Co Ltd right now?
A fairly wide model range (34.81 TWD to 85.47 TWD) leaves room in how you read the outcome. As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Where does the earnings growth of Chong Hong Construction Co Ltd (5534) come from?
Earnings per share at Chong Hong Construction Co Ltd grew +1.0 % a year from 2014 to 2025. Broken into its drivers: revenue per share +9.3 %, EBIT margin −1.3 %, tax rate −2.2 %, residual (interest, one-offs) −4.2 %. 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 Chong Hong Construction Co Ltd
How large is the market capitalisation of Chong Hong Construction Co Ltd (5534)?
The market capitalisation of Chong Hong Construction Co Ltd is 23.0B TWD (≈ $721M). 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 Chong Hong Construction Co Ltd (5534)?
The price-to-sales ratio of Chong Hong Construction Co Ltd is 2.54 (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 Chong Hong Construction Co Ltd (5534)?
Earnings per share at Chong Hong Construction Co Ltd are 5.98 TWD (price ÷ EPS = P/E 12.4). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Chong Hong Construction Co Ltd (5534)?
The dividend yield of Chong Hong Construction Co Ltd is 6.7% (payout 82.7%). 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 Chong Hong Construction Co Ltd (5534)?
The net margin of Chong Hong Construction Co Ltd is 20.5% (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 Chong Hong Construction Co Ltd (5534)?
The return on equity (ROE) of Chong Hong Construction Co Ltd is 7.3% (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 Chong Hong Construction Co Ltd (5534)?
On an EBIT basis the return on assets of Chong Hong Construction Co Ltd is 5.6% (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 Chong Hong Construction Co Ltd (5534)?
The operating margin of Chong Hong Construction Co Ltd is 8.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Chong Hong Construction Co Ltd (5534)?
Revenue at Chong Hong Construction Co Ltd is growing −22.0% versus a year earlier (3y avg −0.8%). 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 Chong Hong Construction Co Ltd (5534)?
Earnings per share at Chong Hong Construction Co Ltd are growing −78.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Chong Hong Construction Co Ltd (5534) carry?
The net debt of Chong Hong Construction Co Ltd is 21.2B TWD (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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