Taiwan FamilyMart Co Ltd (5903) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Taiwan FamilyMart Co Ltd stock TWD 160, price TWD 183, that is 12.6% below the price, quality 56 out of 100. Rating: overvalued. 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 6, 2026.
How to read this chart
60‑month range 151.92 TWD – 223.48 TWD · fair‑value band 119.66 TWD – 199.43 TWD · the 182.50 TWD price screens above the 159.55 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 6, 2026.
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Taiwan FamilyMart Co., Ltd., together with its subsidiaries, operates a chain of convenience stores in Taiwan. It operates through Retail, Logistics, and Others segments. The company retails food products, household merchandise, books, and magazines; and operates loyalty programs.
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It also provides catering; warehousing and packaging; electronic information; system integrated; car freight, cargo handling, and manpower dispatch; and logistics services.
In addition, the company engages in the sale and service of computer software and related equipment; and electronic payment enterprise activities. Further, it provides food manufacturing, franchise, agency collection, and related services.
Taiwan FamilyMart Co., Ltd. was incorporated in 1988 and is headquartered in Taipei, Taiwan.
Stock analysis
Taiwan FamilyMart Co Ltd (5903) currently trades at 182.50 TWD, while our model-based Fair Value estimate is 159.55 TWD, 13% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 376.53 TWD per share, and 12 of the 26 models we run sit above the 182.50 TWD price.
Bear case: the Asset-Based group reads lowest at 25.14 TWD, and 14 of the 26 models stay below the price. Data coverage for this calculation is high.
Scenario range: 119.66 TWD (bear) to 199.43 TWD (bull), the price of 182.50 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 56/100 (solid quality), in the Consumer Cyclical sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Taiwan FamilyMart Co Ltd reported revenue of 110B TWD in FY2025 versus 83.7B TWD in FY2021, a compound +7.1%/yr. Reported net income was 1.7B TWD in FY2025, compounding +6.0%/yr from FY2021.
Key figures
Market cap 40.7B TWD (≈ $1.2B) Small · P/E ratio 23.3 · P/S ratio 0.36 · EPS (TTM) 7.83 TWD · Dividend yield 3.6% · Net margin 1.5% · Return on equity 18.9% · Return on assets (EBIT) 2.5% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 41 out of 100 (low confidence).
What moves the price
The share trades about 4% below its 52-week high and 1% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at 10% fair-value upside, at −13%, 5903 screens richer than that median.
Fair Value models
Bear119.66 TWDFair Value 159.55 TWDBull199.43 TWD
Price 182.50 TWD · Downside -12.6%
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 (1.14 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.
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.69/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+4.7%
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.
+6.6%
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.
+5.2%
Start year 2020 (pandemic). Over 10 years: +6.7% a year
Revenue growth 25 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.
+8.3%
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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.
+2.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year−1.5%
Dividend (yield on the price)3.6%
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.3% → 2%
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).
−9.0%
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 −10.4% a year for the price.
Compare Taiwan FamilyMart 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.Department Stores · 107 stocks
Beats the industry median on 8/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score56 · Above median
Fair Value upside−12.6% · Below median
Profitability
Return on equity (12 months)18.9% · Top 25%
Return on assets2.1% · Above median
Net margin (12 months)1.5% · Below median
Operating margin (12 months)1.9% · Below median
Growth and dividend
Revenue growth (quarter YoY)6.5% · Above median
Dividend yield (12 months)3.6% · Top 25%
Balance sheet
Debt / equity0.22× · Above median
Valuation Multiplesvs Department Stores median · lower = cheaper
P/E (12 months)23.3× · Pricier than median
P/B4.33× · Priciest 25%
P/S (12 months)0.36× · Cheaper than median
Price / free cash flow (fiscal year)7.0× · Cheaper than median
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Cite: Fair Value Calculator (2026). "Taiwan FamilyMart Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/5903
Frequently asked questions
Is Taiwan FamilyMart Co Ltd (5903) overvalued or undervalued?
As of Nov 6, 2026, our model estimates a fair value of 159.55 TWD versus a price of 182.50 TWD, about 13% lower (overvalued).
What is the fair value of 5903?
Our model-based fair value for Taiwan FamilyMart Co Ltd is 159.55 TWD (as of Nov 6, 2026), built from audited fundamentals. The current price: 182.50 TWD.
What is the quality score of 5903?
Taiwan FamilyMart Co Ltd has a Quality Score of 56/100. 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 Taiwan FamilyMart Co Ltd (5903)?
Our model-based price target is the fair value of 159.55 TWD (as of Nov 6, 2026) from 26 valuation models. Cautious scenario 119.66 TWD, optimistic scenario 199.43 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Taiwan FamilyMart Co Ltd stock forecast for 2026?
Our models put fair value at 159.55 TWD, about 13% lower versus a price of 182.50 TWD (overvalued). Cautious scenario 119.66 TWD, optimistic scenario 199.43 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Taiwan FamilyMart Co Ltd (5903)?
Taiwan FamilyMart Co Ltd reported trailing-twelve-month revenue of about 114B TWD (latest available figure, as of Nov 6, 2026).
Does Taiwan FamilyMart Co Ltd pay a dividend?
Taiwan FamilyMart Co Ltd currently shows a dividend yield of 3.56% relative to its recent price (as of Nov 6, 2026).
How much is the dividend of Taiwan FamilyMart Co Ltd (5903) and when is the ex-dividend date?
Taiwan FamilyMart Co Ltd pays a dividend of 6.50 TWD per share a year, a dividend yield of 3.6%. The last ex-dividend date was Aug 5, 2026. A dividend has been paid every year since at least 2008. The payout ratio is 83.0% of earnings. Free cash flow covers the dividend 4.02 times. Our assessment: Sustainable. Payout and cash coverage both look sustainable.
What growth is priced into Taiwan FamilyMart Co Ltd (5903)?
For today's price to be fair in a discounted-cash-flow model, Taiwan FamilyMart Co Ltd would have to grow free cash flow by -9.0 % 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 +5.2 % per year. As of Nov 6, 2026.
What discount rate (WACC) does the fair value of 5903 use?
Our models discount Taiwan FamilyMart Co Ltd at 10.3 %: a base by market capitalisation (small), damped by beta 0.16, 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 Taiwan FamilyMart Co Ltd that is -9.0 % 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 Taiwan FamilyMart Co Ltd (5903) delivered so far?
Over the past 5 years revenue at Taiwan FamilyMart Co Ltd grew +5.2 % a year. The price currently implies free-cash-flow growth of -9.0 % 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 Taiwan FamilyMart Co Ltd (5903) growing?
The median revenue growth in the sector is +3.6 % a year. That is the yardstick for the growth priced into Taiwan FamilyMart Co Ltd (-9.0 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Taiwan FamilyMart Co Ltd (5903)?
The free-cash-flow yield on the price is 14.31 %: that much free cash flow Taiwan FamilyMart Co Ltd 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 Taiwan FamilyMart Co Ltd (5903)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Taiwan FamilyMart Co Ltd it is 159.55 TWD per share (as of Nov 6, 2026), against a price of 182.50 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 Taiwan FamilyMart Co Ltd stock overvalued or undervalued in 2026?
As of Nov 6, 2026, 5903 trades above its calculated fair value: price 182.50 TWD, fair value 159.55 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 5903?
No. The price is what the market pays today (182.50 TWD); the fair value is what the company's own numbers justify (159.55 TWD). For Taiwan FamilyMart Co Ltd the two are 22.95 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Taiwan FamilyMart Co Ltd worth?
The market values Taiwan FamilyMart Co Ltd at about 40.7B TWD (market capitalisation, as of Nov 6, 2026). Per share that is 182.50 TWD; our models calculate a fair value of 159.55 TWD per share.
What do the bullish and bearish scenarios say about 5903?
Our models span a range for Taiwan FamilyMart Co Ltd: cautious scenario 119.66 TWD, base 159.55 TWD, optimistic 199.43 TWD per share (as of Nov 6, 2026, price 182.50 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 5903?
Taiwan FamilyMart Co Ltd trades at a price-to-earnings ratio of 23.3 (as of Nov 6, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 159.55 TWD is built from several models across several years. Median P/E at fiscal year-end, 9 fiscal years (2017 to 2025), reported earnings, FY2025 ex one-offs: 26.6. Other multiples: P/B 4.3, P/S 0.4, EV/EBITDA 7.3.
How solid is the balance sheet of Taiwan FamilyMart Co Ltd (5903)?
Balance-sheet figures for Taiwan FamilyMart Co Ltd (as of Nov 6, 2026): return on equity 18.9%, debt of 0.22 per unit of equity. They feed the Quality Score of 56/100, which measures business quality independently of the share price.
How far is 5903 from its 52-week high?
Taiwan FamilyMart Co Ltd trades at 182.50 TWD, about 4% below its 52-week high of 189.74 TWD and 1% above the low of 180.09 TWD (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 159.55 TWD is for.
Which stocks are comparable to Taiwan FamilyMart Co Ltd?
From the same area (Consumer Cyclical) we also value Falabella S.A, Dillard's, Inc, 99 Speed Mart Retail Holdings, Macy's, Inc, 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 Taiwan FamilyMart Co Ltd stock attractive at the current price?
The data as of Nov 6, 2026: price 182.50 TWD, calculated fair value 159.55 TWD (−13%), Quality Score 56/100, 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 5903 calculated?
We run Taiwan FamilyMart Co Ltd 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 159.55 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 13.0% above its aggregate fair value. Taiwan FamilyMart 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 Taiwan FamilyMart Co Ltd (5903)?
The closing price on Nov 6, 2026 was 182.50 TWD. Our model-based fair value is 159.55 TWD, about 13% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Taiwan FamilyMart Co Ltd right now?
Solid but not exceptional quality (56/100) and above fair value, neither a clear bargain nor a standout compounder. The price sits in the upper half of our model range, so the margin of safety is thin. The data supports the verdict: every model runs on fully documented inputs.
Key figures of Taiwan FamilyMart Co Ltd
How large is the market capitalisation of Taiwan FamilyMart Co Ltd (5903)?
The market capitalisation of Taiwan FamilyMart Co Ltd is 40.7B TWD (≈ $1.2B). 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 Taiwan FamilyMart Co Ltd (5903)?
The price-to-sales ratio of Taiwan FamilyMart Co Ltd is 0.36 (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 Taiwan FamilyMart Co Ltd (5903)?
Earnings per share at Taiwan FamilyMart Co Ltd are 7.83 TWD (price ÷ EPS = P/E 23.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Taiwan FamilyMart Co Ltd (5903)?
The dividend yield of Taiwan FamilyMart Co Ltd is 3.6% (payout 83.0%). 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 Taiwan FamilyMart Co Ltd (5903)?
The net margin of Taiwan FamilyMart Co Ltd is 1.5% (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 Taiwan FamilyMart Co Ltd (5903)?
The return on equity (ROE) of Taiwan FamilyMart Co Ltd is 18.9% (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 Taiwan FamilyMart Co Ltd (5903)?
On an EBIT basis the return on assets of Taiwan FamilyMart Co Ltd is 2.5% (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 Taiwan FamilyMart Co Ltd (5903)?
The operating margin of Taiwan FamilyMart Co Ltd is 1.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Taiwan FamilyMart Co Ltd (5903)?
Revenue at Taiwan FamilyMart Co Ltd is growing +6.5% versus a year earlier (3y avg +6.6%). 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 Taiwan FamilyMart Co Ltd (5903)?
Earnings per share at Taiwan FamilyMart Co Ltd are growing +56.7% versus a year earlier. How much earnings per share grew versus a year earlier.
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Broad data
Nov 6, 2026