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Acter Group (5536) Fair Value & Analysis

Industrials · TW · Market cap 151B TWD

AG Acter Group 5536 · TWO
Price1,060 TWD
Fair Value596.90 TWD
Upside-43.7%
Quality68/100
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Healthy Growth
Solidly profitable · 10.0% net margin
Low debt · generates free cash flow
1.59% dividend yield
Mixed vs. peers (8/14)
Wide moat 70/100
Evidence: Medium Range 447.68 TWD – 1,040 TWD Share as image

Fair value as of: Jul 11, 2026

From 26 valuation models · updated 29 days ago

Share price −15.9% over the past month.

A solid business, but screening 44% overvalued on our models.

What matters now

  • Solid but not exceptional quality (68/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range (447.68 TWD to 1,040 TWD) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

1,435 TWD 75.60 TWD Fair Value 596.90 TWD Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 11, 2026.

How to read this chart

60‑month range 75.60 TWD – 1,435 TWD · fair‑value band 447.68 TWD – 1,040 TWD · the 1,060 TWD price screens above the 596.90 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 11, 2026.

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Analysis

Acter Group (5536) currently trades at 1,060 TWD, while our model-based Fair Value estimate is 596.90 TWD, implying the stock looks roughly 43.7% overvalued today. The Quality Score stands at 68/100 (solid quality), in the Industrials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: medium).

Over the trailing twelve months, Acter Group generated revenue of 44.5B TWD at a net margin of 10.0%. Revenue grew 35.6% year over year. It earns a return on equity of 31.5%. The stock trades on a trailing P/E of 39.8. Fundamentals as of Jul 11, 2026

Our scenario range runs from 447.68 TWD (bear case) to 1,040 TWD (bull case); at 1,060 TWD, the current price sits above 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 12% below its 52-week high and 193% 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 -44%, 5536 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 797.18 TWD 1,444 TWD 2,696 TWD 80
Residual Income 183.63 TWD 232.80 TWD 1,054 TWD 76
Rev-Margin DCF 627.57 TWD 1,113 TWD 1,846 TWD 74
All 26 models by family
DCF Models
FCF DCF 833.42 TWD 1,309 TWD 2,708 TWD 38
Owner Earnings 556.27 TWD 1,132 TWD 2,341 TWD 31
5Y Revenue Exit 627.57 TWD 1,038 TWD 1,842 TWD 39
5Y EBITDA Exit 638.70 TWD 1,062 TWD 1,839 TWD 41
5Y P/E Exit 626.13 TWD 1,136 TWD 1,787 TWD 38
10Y Revenue Exit 669.25 TWD 1,220 TWD 1,810 TWD 36
10Y EBITDA Exit 694.57 TWD 1,241 TWD 2,223 TWD 37
10Y P/E Exit 685.67 TWD 1,217 TWD 2,118 TWD 35
Earnings-Based
Graham-Dodd 193.28 TWD 1,348 TWD 1,892 TWD 54
Lynch FV 414.45 TWD 592.07 TWD 769.69 TWD 50
PEG = 1.0 414.45 TWD 592.07 TWD 769.69 TWD 46
EPV 473.35 TWD 534.78 TWD 588.54 TWD 59
Dividend Discount
Gordon GGM 137.73 TWD 286.36 TWD 454.29 TWD 70
DDM Multi-Stage 137.73 TWD 241.47 TWD 300.55 TWD 61
Multiples
P/E Multiple 447.68 TWD 596.90 TWD 746.13 TWD 63
P/S Multiple 362.41 TWD 483.21 TWD 604.01 TWD 58
P/B Multiple 356.84 TWD 475.78 TWD 594.73 TWD 55
EV/EBIT 692.81 TWD 888.84 TWD 1,085 TWD 53
EV/EBITDA 570.06 TWD 725.17 TWD 880.27 TWD 54
EV/Revenue 524.46 TWD 704.34 TWD 884.22 TWD 43
Asset-Based
NCAV (Graham) 52.86 TWD 70.84 TWD 105.73 TWD 50
Growth DCF
Growth DCF 797.18 TWD 1,444 TWD 2,696 TWD 80
Rev-Margin DCF 627.57 TWD 1,113 TWD 1,846 TWD 74
Economic Profit
Residual Income 183.63 TWD 232.80 TWD 1,054 TWD 76
ROIC Compounder 474.38 TWD 537.21 TWD 593.11 TWD 72
Growth Earnings
Growth-Adj P/E 560.03 TWD 800.05 TWD 1,040 TWD 68

Widest divergence: DCF Models (1,136 TWD) versus Asset-Based (70.84 TWD). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 44.5B TWD
Revenue growth (YoY) +35.6%
Net margin 10.0%
Return on equity 31.5%
Free cash flow 5.6B TWD FY2025
P/E ratio 39.8
More key figures
Operating margin 19.8%
EPS (TTM) 28.36 TWD
Dividend yield 1.8%
EPS growth (YoY) +146%

Figures from reported company fundamentals · as of Jul 11, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 68/100

Of which business quality 68 · Market factors (momentum, volatility) 75

Profitability 60
Margins and returns on capital today
Quality Growth 68
Are margins and returns improving?
Cashflow 73
Earnings quality: real cash, not paper profit
Fin. Strength 87
Balance sheet, leverage, solvency risk
Investment 42
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 88
Price trend over the last 3–12 months (market factor)
52W Momentum 79
Distance to the 52-week high (market factor)
Net Issuance 65
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

Acter Group Corporation Limited provides engineering services in Taiwan, Mainland China, and other Asian countries. The company offers clean room engineering services for controlling dust particles in the air and controls temperature, humidity, airflow mode, vibration, noise and other environmental factors; MEP/ HVAC services for signal transmission and …

Full company description

Acter Group Corporation Limited provides engineering services in Taiwan, Mainland China, and other Asian countries. The company offers clean room engineering services for controlling dust particles in the air and controls temperature, humidity, airflow mode, vibration, noise and other environmental factors; MEP/ HVAC services for signal transmission and feedback control methods; turnkey project services, such as design, planning, procurement, subcontracting, construction management; ventilation engineering services; temperature and humidity monitoring services; and maintenance engineering, comprising repairing, maintaining and cleaning of host equipment, air-conditioning box, and small air-feeder. It also provides environmental engineering, including organizing the effluent and exhaust systems using the pipes; processing water required by the production; preventing pollutions caused by effluent, acid gas and alkali gas produced during the process; and providing design, construction, installation, and testing services based on industry characteristics and demand. In addition, the company is involved in equipment sales, pipelines assembly, semiconductor industry automation supply, and system business contracting and design; refrigeration and air conditioning engineering and equipment installation; overseas investment holding; commissioned construction, rent, and sale of commercial buildings; automated supply system business; design and manufacture of gas cabinets, valve boxes, and liquid transport cabinets; chemical supply system business; and mechanical and electrical machinery and related equipment trading. Acter Group Corporation Limited was incorporated in 1979 and is headquartered in Taichung, Taiwan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Acter Group reported revenue of 41.5B TWD in FY2025 versus 20.2B TWD in FY2021, a compound +19.7%/yr. Reported net income was 3.5B TWD in FY2025, compounding +30.8%/yr from FY2021.

Growth Quality 100/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
41.5B TWD
Latest YoY
+37.1%
Avg. growth/yr (3Y)
+13.6%
Avg. growth/yr (5Y)
+24.3%
Avg. growth/yr (8Y)
+17.5%
Revenue +19.7%/yr
FY21 20.2B TWD
FY22 28.3B TWD
FY23 25.1B TWD
FY24 30.3B TWD
FY25 41.5B TWD
Net income +30.8%/yr
FY21 1.2B TWD
FY22 1.9B TWD
FY23 1.8B TWD
FY24 2.6B TWD
FY25 3.5B TWD

5536 screens 44% overvalued. Compare with Larsen & Toubro Limited →

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Cite: Fair Value Calculator (2026). "Acter Group Fair Value". https://www.fairvalue-calculator.com/stock/5536

Peer Group

Engineering & Construction · 837 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 −44% · Below median
Return on equity (TTM) 32% · Top 25%
Return on assets 11% · Top 25%
Net margin (TTM) 10% · Top 25%
Operating margin (TTM) 20% · Top 25%
Revenue growth 36% · Top 25%
Dividend yield (TTM) 1.6% · Below median

Valuation Multiples vs Engineering & Construction median · lower = cheaper

P/E (TTM) 42.9× · Pricier than 75% of peers
P/B 11.49× · Pricier than 75% of peers
P/S (TTM) 3.39× · Pricier than 75% of peers
P/FCF 0.8× · Cheaper than median
EV/EBITDA 19.5× · 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 0 · sector 16
FUTURE 100 · sector 18
PAST 100 · sector 26
HEALTH 100 · sector 94
DIVIDEND 32 · sector 33

VALUE 0: the price sits above our fair-value range.

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 11, 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 Acter Group (5536) overvalued or undervalued?
As of Jul 11, 2026, our model estimates a fair value of 596.90 TWD versus a price of 1,060 TWD, about −44% (overvalued).
What is the fair value of 5536?
Our model-based fair value for Acter Group is 596.90 TWD (as of Jul 11, 2026), built from audited fundamentals. The current price is 1,060 TWD.
What is the quality score of 5536?
Acter Group 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 Acter Group (5536)?
Acter Group reported trailing-twelve-month revenue of about 44.5B TWD (latest available figure, as of Jul 11, 2026).
What is the net profit margin of 5536?
The net profit margin of Acter Group is about 10.0%, meaning it keeps roughly 10.0% of revenue as net income. Based on the latest reported figures.
Does Acter Group pay a dividend?
Acter Group currently shows a dividend yield of about 1.79% relative to its recent price (as of Jul 11, 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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