Dimerco Express (5609) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Dimerco Express stock TWD 124, price TWD 77.10, upside +60.9%, quality 75 out of 100. Rating: strongly undervalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 5, 2026.
How to read this chart
60‑month range 40.56 TWD – 85.54 TWD · fair‑value band 93.04 TWD – 155.06 TWD · the 77.10 TWD price screens below the 124.05 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 5, 2026.
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Dimerco Express Corporation, together with its subsidiaries, operates as a shipping and logistics company in Asia, the Americas, and Europe.
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The company provides air freight services, including consolidated, standard, and expedited and next flight out, as well as charter services; ocean freight services, such as buyer's consolidation, cross-dock, project logistics, and EDI/API support for rapid data integration services; road and rail services; and multimodal transport, including sea/air freight, air/sea freight, and cross-border road freight services.
It also offers customs brokerage services, such as customs clearance, trade compliance consulting, FTZ operation, and digitization of custom procedures; and contract logistics services comprising warehousing and distribution, bonded warehouse, and service logistics solutions.
In addition, the company provides supply chain solutions, such as project logistics, purchase order management, data integration, and supply chain consulting services; customs brokerage and compliance; and cargo insurance, as well as automotive logistics services.
It serves aerospace, automotive, consumer electronics, semiconductors, medical devices and equipment, and fashion and lifestyle industries. The company was formerly known as Dimerco Express Taiwan Corp. and changed its name to Dimerco Express Corporation in June 2012.
Dimerco Express Corporation was founded in 1971 and is headquartered in Taipei, Taiwan.
Stock analysis
Dimerco Express (5609) currently trades at 77.10 TWD, while our model-based Fair Value estimate is 124.05 TWD, implying the stock looks roughly 38% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 189.44 TWD per share, and 21 of the 26 models we run sit above the 77.10 TWD price.
Bear case: the Asset-Based group reads lowest at 32.80 TWD, and 5 of the 26 models stay below the price. Data coverage for this calculation is high.
Scenario range: 93.04 TWD (bear) to 155.06 TWD (bull), the price of 77.10 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 75/100 (high quality), in the Industrials sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Dimerco Express reported revenue of 29.7B TWD in FY2025 versus 39.0B TWD in FY2021, a compound −6.6%/yr. Reported net income was 1.1B TWD in FY2025, compounding −16.4%/yr from FY2021.
Key figures
Market cap 10.9B TWD (≈ $331M) Small · P/E ratio 10.0 · P/S ratio 0.34 · EPS (TTM) 7.71 TWD · Dividend yield 7.3% · Net margin 3.4% · Return on equity 18.8% · Return on assets (EBIT) 18.3% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).
What moves the price
The share trades about 3% below its 52-week high and 7% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −36% fair-value upside, at 61%, 5609 screens cheaper than that median.
Fair Value models
Bear93.04 TWDFair Value 124.05 TWDBull155.06 TWD
Price 77.10 TWD · Upside +60.9%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (1.81 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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = 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.
Best data coverage
FCF DCF140.80 TWD191.97 TWD262.68 TWD79
Growth DCF141.86 TWD186.59 TWD244.59 TWD77
Owner Earnings140.40 TWD191.39 TWD261.85 TWD75
All 26 models by family
DCF Models
FCF DCF140.80 TWD191.97 TWD262.68 TWD79
Owner Earnings140.40 TWD191.39 TWD261.85 TWD75
5Y Revenue Exit121.93 TWD167.97 TWD225.71 TWD71
5Y EBITDA Exit132.39 TWD187.49 TWD250.85 TWD73
5Y P/E Exit143.11 TWD207.49 TWD274.47 TWD69
10Y Revenue Exit126.08 TWD168.19 TWD223.04 TWD66
10Y EBITDA Exit134.56 TWD180.95 TWD241.08 TWD67
10Y P/E Exit141.00 TWD194.02 TWD258.03 TWD63
Earnings-Based
Graham-Dodd54.40 TWD167.71 TWD222.83 TWD62
Lynch FV36.23 TWD51.76 TWD67.29 TWD59
PEG = 1.036.23 TWD51.76 TWD67.29 TWD55
EPV94.19 TWD103.10 TWD110.64 TWD74
Dividend Discount
Gordon GGM43.46 TWD81.68 TWD116.76 TWD65
DDM Multi-Stage43.46 TWD68.58 TWD86.84 TWD65
Multiples
P/E Multiple126.00 TWD168.00 TWD210.00 TWD63
P/S Multiple102.00 TWD136.00 TWD170.00 TWD58
P/B Multiple150.47 TWD200.63 TWD250.79 TWD55
EV/EBIT144.24 TWD182.25 TWD220.27 TWD66
EV/EBITDA136.56 TWD172.02 TWD207.47 TWD67
EV/Revenue111.59 TWD146.48 TWD181.36 TWD54
Asset-Based
NCAV (Graham)21.65 TWD32.80 TWD41.00 TWD54
Growth DCF
Growth DCF141.86 TWD186.59 TWD244.59 TWD77
Rev-Margin DCF121.93 TWD168.83 TWD222.89 TWD71
Economic Profit
Residual Income47.24 TWD58.87 TWD81.97 TWD73
ROIC Compounder96.55 TWD108.49 TWD120.34 TWD70
Growth Earnings
Growth-Adj P/E103.84 TWD148.35 TWD192.85 TWD65
The fair value above starts from this blend and is adjusted for a cyclical peak year.
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 inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+2.5%
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.
−10.3%
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.
+5.3%
Start year 2020 (pandemic). Over 10 years: +6.7% a year
Revenue growth 16 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.
+5.4%
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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.
+8.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year+1.3%
Dividend (yield on the price)7.3%
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.1.3% vs 18.6%, 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.6% → 4%
Pace: the 5-year rate starts in 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).
−17.9%
The company could shrink this much every year for the next five years and today's price would still be justified.
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 −19.2% a year for the price.
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.Integrated Freight & Logistics · 210 stocks
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). "Dimerco Express Fair Value". https://www.fairvalue-calculator.com/stock/5609
Frequently asked questions
Is Dimerco Express (5609) overvalued or undervalued?
As of Nov 5, 2026, our model estimates a fair value of 124.05 TWD versus a price of 77.10 TWD, about +61% upside (undervalued).
What is the fair value of 5609?
Our model-based fair value for Dimerco Express is 124.05 TWD (as of Nov 5, 2026), built from audited fundamentals. The current price: 77.10 TWD.
What is the quality score of 5609?
Dimerco Express 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 price target for Dimerco Express (5609)?
Our model-based price target is the fair value of 124.05 TWD (as of Nov 5, 2026) from 26 valuation models. Cautious scenario 93.04 TWD, optimistic scenario 155.06 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Dimerco Express stock forecast for 2026?
Our models put fair value at 124.05 TWD, about +61% upside versus a price of 77.10 TWD (undervalued). Cautious scenario 93.04 TWD, optimistic scenario 155.06 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Dimerco Express (5609)?
Dimerco Express reported trailing-twelve-month revenue of about 31.8B TWD (latest available figure, as of Nov 5, 2026).
Does Dimerco Express pay a dividend?
Dimerco Express currently shows a dividend yield of 7.26% relative to its recent price (as of Nov 5, 2026).
How much is the dividend of Dimerco Express (5609) and when is the ex-dividend date?
Dimerco Express pays a dividend of 5.60 TWD per share a year, a dividend yield of 7.3%. The last ex-dividend date was Jun 17, 2026. A dividend has been paid every year since at least 2008. The payout ratio is 72.6% of earnings. Free cash flow covers the dividend 1.91 times. Our assessment: Sustainable. Payout and cash coverage both look sustainable.
What growth is priced into Dimerco Express (5609)?
For today's price to be fair in a discounted-cash-flow model, Dimerco Express would have to grow free cash flow by -17.9 % per year for five years (discount rate 10.3 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +5.3 % per year. As of Nov 5, 2026.
What discount rate (WACC) does the fair value of 5609 use?
Our models discount Dimerco Express at 10.3 %: a base by market capitalisation (small), damped by beta 0.40, 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 Dimerco Express that is -17.9 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (10.3 %) and the same formula as our fair value.
How much growth has Dimerco Express (5609) delivered so far?
Over the past 5 years revenue at Dimerco Express grew +5.3 % a year. The price currently implies free-cash-flow growth of -17.9 % per 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 Dimerco Express (5609) growing?
The median revenue growth in the sector is +7.8 % a year. That is the yardstick for the growth priced into Dimerco Express (-17.9 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Dimerco Express (5609)?
The free-cash-flow yield on the price is 13.89 %: that much free cash flow Dimerco Express produces per unit of market value. When it exceeds the discount rate of our models (10.3 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Dimerco Express (5609)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Dimerco Express it is 124.05 TWD per share (as of Nov 5, 2026), against a price of 77.10 TWD. It is the blended result of 26 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Dimerco Express stock overvalued or undervalued in 2026?
As of Nov 5, 2026, 5609 trades below its calculated fair value: price 77.10 TWD, fair value 124.05 TWD, a gap of about +61% (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 5609?
No. The price is what the market pays today (77.10 TWD); the fair value is what the company's own numbers justify (124.05 TWD). For Dimerco Express the two are 46.95 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Dimerco Express worth?
The market values Dimerco Express at about 10.9B TWD (market capitalisation, as of Nov 5, 2026). Per share that is 77.10 TWD; our models calculate a fair value of 124.05 TWD per share.
What do the bullish and bearish scenarios say about 5609?
Our models span a range for Dimerco Express: cautious scenario 93.04 TWD, base 124.05 TWD, optimistic 155.06 TWD per share (as of Nov 5, 2026, price 77.10 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 5609?
Dimerco Express trades at a price-to-earnings ratio of 10.0 (as of Nov 5, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 124.05 TWD is built from several models across several years. Other multiples: P/B 1.7, P/S 0.3, EV/EBITDA 4.9.
How solid is the balance sheet of Dimerco Express (5609)?
Balance-sheet figures for Dimerco Express (as of Nov 5, 2026): return on equity 18.8%. They feed the Quality Score of 75/100, which measures business quality independently of the share price.
How far is 5609 from its 52-week high?
Dimerco Express trades at 77.10 TWD, about 3% below its 52-week high of 79.50 TWD and 7% above the low of 71.86 TWD (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 124.05 TWD is for.
Which stocks are comparable to Dimerco Express?
From the same area (Industrials) we also value United Parcel Service, Inc, FedEx Corporation, Deutsche Post AG, DSV A/S, 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 Dimerco Express stock attractive at the current price?
The data as of Nov 5, 2026: price 77.10 TWD, calculated fair value 124.05 TWD (+61%), Quality Score 75/100, from 26 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 5609 calculated?
We run Dimerco Express through 26 models from 8 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of 124.05 TWD builds on their evidence-weighted average, 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 13.3% above its aggregate fair value. Dimerco Express 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 Dimerco Express (5609)?
The closing price on Nov 6, 2026 was 77.10 TWD. Our model-based fair value is 124.05 TWD, about +61% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Dimerco Express right 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 (93.04 TWD). The market is more pessimistic than our downside scenario.
Where does the earnings growth of Dimerco Express (5609) come from?
Earnings per share at Dimerco Express grew +32.2 % a year from 2012 to 2023. Broken into its drivers: revenue per share +9.5 %, EBIT margin +17.4 %, tax rate +1.2 %, residual (interest, one-offs) +1.7 %. 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 Dimerco Express
How large is the market capitalisation of Dimerco Express (5609)?
The market capitalisation of Dimerco Express is 10.9B TWD (≈ $331M). 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 Dimerco Express (5609)?
The price-to-sales ratio of Dimerco Express is 0.34 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Dimerco Express (5609)?
Earnings per share at Dimerco Express are 7.71 TWD (price ÷ EPS = P/E 10.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Dimerco Express (5609)?
The dividend yield of Dimerco Express is 7.3% (payout 72.6%). 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 Dimerco Express (5609)?
The net margin of Dimerco Express is 3.4% (last twelve months). 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 Dimerco Express (5609)?
The return on equity (ROE) of Dimerco Express is 18.8% (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 Dimerco Express (5609)?
On an EBIT basis the return on assets of Dimerco Express is 18.3% (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 Dimerco Express (5609)?
The operating margin of Dimerco Express is 4.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Dimerco Express (5609)?
Revenue at Dimerco Express is growing +28.9% versus a year earlier (3y avg −10.3%). 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 Dimerco Express (5609)?
Earnings per share at Dimerco Express are growing −9.9% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Dimerco Express (5609) hold?
Dimerco Express holds more cash than debt, 4.2B TWD net (fiscal year 2023). The company holds more cash than debt, a safety cushion.
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Broad data
Nov 5, 2026