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POYA International Co (5904) Fair Value & Analysis

Consumer Cyclical · TW · Market cap 65.5B TWD

PI POYA International Co 5904 · TWO
Price72.00 TWD
Fair Value0.7604 TWD
Upside-98.9%
Quality69/100
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Healthy Growth
Solidly profitable · 12.8% net margin
Low debt · generates free cash flow
4.09% dividend yield
Ranks above peers (9/14)
Wide moat 66/100
Evidence: High Range 0.5703 TWD – 0.9505 TWD Share as image

Fair value as of: Aug 4, 2026

From 24 valuation models · updated 5 days ago

Share price −89.0% over the past month.

A solid business, but screening 99% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (0.9505 TWD). The favourable scenario is already priced in.
  • Solid but not exceptional quality (69/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

709.24 TWD 72.00 TWD Fair Value 0.7604 TWD Feb 2021 Jul 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 4, 2026.

How to read this chart

60‑month range 72.00 TWD – 709.24 TWD · fair‑value band 0.5703 TWD – 0.9505 TWD · the 72.00 TWD price screens above the 0.7604 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 4, 2026.

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Analysis

POYA International Co (5904) currently trades at 72.00 TWD, while our model-based Fair Value estimate is 0.7604 TWD, implying the stock looks roughly 98.9% overvalued today. The Quality Score stands at 69/100 (solid quality), in the Consumer Cyclical 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: high).

Over the trailing twelve months, POYA International Co generated revenue of 26.1B TWD at a net margin of 12.8%. Revenue grew 12.7% year over year. It earns a return on equity of 56.2%. Net debt stands at 270M TWD. Fundamentals as of Aug 4, 2026

Our scenario range runs from 0.5703 TWD (bear case) to 0.9505 TWD (bull case); at 72.00 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. For context, the median of 10 Consumer Cyclical peers we cover trades at 50% fair-value upside, at -99%, 5904 screens richer 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 68.12 TWD 113.31 TWD 187.70 TWD 80
Residual Income 26.20 TWD 38.56 TWD 434.51 TWD 76
Rev-Margin DCF 39.44 TWD 58.79 TWD 83.16 TWD 74
All 24 models by family
DCF Models
FCF DCF 68.11 TWD 115.94 TWD 195.99 TWD 38
Owner Earnings 70.18 TWD 119.54 TWD 202.12 TWD 31
5Y Revenue Exit 39.44 TWD 58.41 TWD 82.59 TWD 39
5Y EBITDA Exit 65.20 TWD 110.00 TWD 164.78 TWD 41
5Y P/E Exit 59.01 TWD 97.60 TWD 140.36 TWD 38
10Y Revenue Exit 47.97 TWD 68.78 TWD 97.62 TWD 36
10Y EBITDA Exit 65.62 TWD 105.97 TWD 164.53 TWD 37
10Y P/E Exit 61.56 TWD 97.03 TWD 144.65 TWD 35
Earnings-Based
Graham-Dodd 23.50 TWD 98.14 TWD 133.84 TWD 54
Lynch FV 24.85 TWD 35.50 TWD 46.15 TWD 50
PEG = 1.0 24.85 TWD 35.50 TWD 46.15 TWD 46
EPV 36.55 TWD 42.22 TWD 47.18 TWD 59
Multiples
P/E Multiple 57.03 TWD 76.04 TWD 95.05 TWD 63
P/S Multiple 25.06 TWD 33.42 TWD 41.77 TWD 58
P/B Multiple 26.75 TWD 35.67 TWD 44.59 TWD 55
EV/EBIT 60.06 TWD 79.24 TWD 98.42 TWD 53
EV/EBITDA 69.67 TWD 92.05 TWD 114.43 TWD 54
EV/Revenue 25.92 TWD 35.95 TWD 45.97 TWD 43
Asset-Based
NCAV (Graham) 4.46 TWD 5.98 TWD 8.92 TWD 50
Growth DCF
Growth DCF 68.12 TWD 113.31 TWD 187.70 TWD 80
Rev-Margin DCF 39.44 TWD 58.79 TWD 83.16 TWD 74
Economic Profit
Residual Income 26.20 TWD 38.56 TWD 434.51 TWD 76
ROIC Compounder 39.04 TWD 48.18 TWD 58.42 TWD 72
Growth Earnings
Growth-Adj P/E 43.55 TWD 62.22 TWD 80.89 TWD 68

Widest divergence: DCF Models (97.60 TWD) versus Asset-Based (5.98 TWD). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 26.1B TWD
Revenue growth (YoY) +12.7%
Net margin 12.8%
Return on equity 56.2%
Free cash flow 4.8B TWD FY2025
P/E ratio 19.7
More key figures
Operating margin 17.4%
EPS (TTM) 31.24 TWD
Dividend yield 4.1%
EPS growth (YoY) +25.6%
Net debt 270M TWD FY2024

Figures from reported company fundamentals · as of Aug 4, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 69/100

Of which business quality 69 · Market factors (momentum, volatility) 20

Profitability 68
Margins and returns on capital today
Quality Growth 48
Are margins and returns improving?
Cashflow 83
Earnings quality: real cash, not paper profit
Fin. Strength 69
Balance sheet, leverage, solvency risk
Investment 64
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 13
Price trend over the last 3–12 months (market factor)
52W Momentum 0
Distance to the 52-week high (market factor)
Net Issuance 75
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

POYA International Co., Ltd. operates a chain of retail stores in Taiwan. It offers fashionable beauty and skincare products; underwear and socks; daily necessities; and personal care products. The company was formerly known as POYA Department Store Co., Ltd. and changed its name to POYA International Co., Ltd. in June 2000. POYA International Co., Ltd.

Full company description

POYA International Co., Ltd. operates a chain of retail stores in Taiwan. It offers fashionable beauty and skincare products; underwear and socks; daily necessities; and personal care products. The company was formerly known as POYA Department Store Co., Ltd. and changed its name to POYA International Co., Ltd. in June 2000. POYA International Co., Ltd. was incorporated in 1997 and is based in Tainan City, Taiwan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

POYA International Co reported revenue of 25.3B TWD in FY2025 versus 17.5B TWD in FY2021, a compound +9.7%/yr. Reported net income was 3.1B TWD in FY2025, compounding +14.3%/yr from FY2021.

Growth Quality 85/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
25.3B TWD
Latest YoY
+7.2%
Avg. growth/yr (3Y)
+9.1%
Avg. growth/yr (5Y)
+7.6%
Avg. growth/yr (23Y)
+11.3%
Revenue +9.7%/yr
FY21 17.5B TWD
FY22 19.5B TWD
FY23 22.1B TWD
FY24 23.6B TWD
FY25 25.3B TWD
Net income +14.3%/yr
FY21 1.8B TWD
FY22 2.1B TWD
FY23 2.5B TWD
FY24 2.8B TWD
FY25 3.1B TWD

5904 screens 99% overvalued. Compare with Falabella S.A →

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Cite: Fair Value Calculator (2026). "POYA International Co Fair Value". https://www.fairvalue-calculator.com/stock/5904

Peer Group

Department Stores · 127 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 69 · Top 25%
Fair Value upside −89% · Bottom 25%
Return on equity (TTM) 56% · Top 25%
Return on assets 8% · Top 25%
Net margin (TTM) 13% · Top 25%
Operating margin (TTM) 17% · Top 25%
Revenue growth 13% · Top 25%
Dividend yield (TTM) 4.1% · Top 25%
Debt / equity 0.17× · Higher than median

Valuation Multiples vs Department Stores median · lower = cheaper

P/E (TTM) 19.7× · Cheaper than median
P/B 8.07× · Pricier than 75% of peers
P/S (TTM) 2.51× · Pricier than 75% of peers
P/FCF 0.4× · Cheaper than median
EV/EBITDA 12.8× · 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 26
FUTURE 64 · sector 2
PAST 100 · sector 16
HEALTH 92 · sector 96
DIVIDEND 82 · sector 37

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

Insider activity: 40/100

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 Department Stores stocks, each showing price versus our Fair Value estimate (as of Aug 4, 2026).

Stock Price Fair Value vs Fair Value
Falabella S.A FALABELLA 5,875 CLP 8,880 CLP +51%
El Puerto de Liverpool, S.A. LIVEPOLC1 99.62 MXN 263.70 MXN +165%
99 Speed Mart Retail Holdings 5326 3.70 MYR 1.45 MYR -61%
Cencosud S.A CENCOSUD 2,040 CLP 2,516 CLP +23%
Vishal Mega Mart Limited VMM ₹113.94 ₹37.39 -67%
SHINSEGAE Inc 004170 610,000 KRW 200,259 KRW -67%
Organización Soriana, S. A. B. de C. V., SORIANAB 30.04 MXN 59.59 MXN +98%
Lotte Shopping Co 023530 155,300 KRW 81,725 KRW -47%
Lojas Renner S.A LREN3 R$14.10 R$33.36 +137%
La Comer, S.A. LACOMERUBC 34.37 MXN 51.49 MXN +50%

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Frequently asked questions

Is POYA International Co (5904) overvalued or undervalued?
As of Aug 4, 2026, our model estimates a fair value of 0.7604 TWD versus a price of 72.00 TWD, about −99% (overvalued).
What is the fair value of 5904?
Our model-based fair value for POYA International Co is 0.7604 TWD (as of Aug 4, 2026), built from audited fundamentals. The current price is 72.00 TWD.
What is the quality score of 5904?
POYA International Co has a Quality Score of 69/100. 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 POYA International Co (5904)?
POYA International Co reported trailing-twelve-month revenue of about 26.1B TWD (latest available figure, as of Aug 4, 2026).
What is the net profit margin of 5904?
The net profit margin of POYA International Co is about 12.8%, meaning it keeps roughly 12.8% of revenue as net income. Based on the latest reported figures.

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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