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King Polytechnic Engineering Co (6122) Fair Value & Analysis

Industrials · TW · Market cap 3.9B TWD

KP King Polytechnic Engineering Co 6122 · TWO
Price47.60 TWD
Fair Value81.95 TWD
Upside+72.2%
Quality54/100
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Expensive Growth
Thin margins · 8.7% net margin
Low debt · negative free cash flow
6.76% dividend yield
Ranks above peers (10/13)
Moderate moat 51/100
Evidence: High Range 61.46 TWD – 110.97 TWD Share as image

Fair value as of: Jul 23, 2026

From 15 valuation models · updated 18 days ago

Share price −8.1% over the past month.

A solid business, screening 72% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (61.46 TWD). The market is more pessimistic than our downside scenario.
  • Solid quality (54/100) at a price below fair value, the discount is the argument here, not the business quality.
  • A fairly wide model range (61.46 TWD to 110.97 TWD) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

75.80 TWD 9.22 TWD Fair Value 81.95 TWD Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 23, 2026.

How to read this chart

60‑month range 9.22 TWD – 75.80 TWD · fair‑value band 61.46 TWD – 110.97 TWD · the 47.60 TWD price screens below the 81.95 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 23, 2026.

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Analysis

King Polytechnic Engineering Co (6122) currently trades at 47.60 TWD, while our model-based Fair Value estimate is 81.95 TWD, implying the stock looks roughly 72.2% undervalued today. The Quality Score stands at 54/100 (solid quality), in the Industrials sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, King Polytechnic Engineering Co generated revenue of 4.1B TWD at a net margin of 8.7%. Revenue declined 8.3% year over year. It earns a return on equity of 21.0%. Net debt stands at 765M TWD. Fundamentals as of Jul 23, 2026

Our scenario range runs from 61.46 TWD (bear case) to 110.97 TWD (bull case); at 47.60 TWD, the current price sits below 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 26% below its 52-week high and 13% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -45% fair-value upside, at 72%, 6122 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 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
Highest evidence
Residual Income 30.43 TWD 40.26 TWD 144.59 TWD 76
ROIC Compounder 53.03 TWD 69.25 TWD 89.66 TWD 72
Growth-Adj P/E 62.54 TWD 89.34 TWD 116.14 TWD 68
All 15 models by family
DCF Models
Owner Earnings 60.10 TWD 103.30 TWD 174.75 TWD 31
Earnings-Based
Graham-Dodd 32.78 TWD 147.63 TWD 202.39 TWD 54
Lynch FV 38.50 TWD 55.00 TWD 71.51 TWD 50
PEG = 1.0 38.50 TWD 55.00 TWD 71.51 TWD 46
EPV 47.38 TWD 54.53 TWD 60.70 TWD 59
Multiples
P/E Multiple 75.93 TWD 101.23 TWD 126.54 TWD 63
P/S Multiple 61.46 TWD 81.95 TWD 102.44 TWD 58
P/B Multiple 61.46 TWD 81.95 TWD 102.44 TWD 55
EV/EBIT 81.31 TWD 107.72 TWD 134.13 TWD 53
EV/EBITDA 64.11 TWD 84.79 TWD 105.46 TWD 54
EV/Revenue 58.63 TWD 82.86 TWD 107.10 TWD 43
Asset-Based
NCAV (Graham) 12.52 TWD 16.77 TWD 25.03 TWD 50
Economic Profit
Residual Income 30.43 TWD 40.26 TWD 144.59 TWD 76
ROIC Compounder 53.03 TWD 69.25 TWD 89.66 TWD 72
Growth Earnings
Growth-Adj P/E 62.54 TWD 89.34 TWD 116.14 TWD 68

Widest divergence: DCF Models (103.30 TWD) versus Asset-Based (16.77 TWD). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 4.1B TWD
Revenue growth (YoY) -8.3%
Net margin 8.7%
Return on equity 21.0%
Free cash flow −813M TWD FY2025
P/E ratio 9.8
More key figures
Operating margin 11.5%
EPS (TTM) 4.72 TWD
Dividend yield 7.4%
EPS growth (YoY) -8.9%
Net debt 765M TWD FY2025

Figures from reported company fundamentals · as of Jul 23, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 54/100

Of which business quality 50 · Market factors (momentum, volatility) 43

Profitability 50
Margins and returns on capital today
Quality Growth 59
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 64
Balance sheet, leverage, solvency risk
Investment 59
Disciplined investing over empire-building
Low Volatility 83
Calm price path (market factor)
Momentum 28
Price trend over the last 3–12 months (market factor)
52W Momentum 23
Distance to the 52-week high (market factor)
Net Issuance 89
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

King Polytechnic Engineering Co., Ltd. operates as a construction company in Taiwan and the United States. The company is in volved in the design and installation of chemical machinery and sterile dust-free equipment; networking, investment, production, sale, installation, and maintenance of high-tech purification equipment; civil construction; …

Full company description

King Polytechnic Engineering Co., Ltd. operates as a construction company in Taiwan and the United States. The company is in volved in the design and installation of chemical machinery and sterile dust-free equipment; networking, investment, production, sale, installation, and maintenance of high-tech purification equipment; civil construction; transportation and sale of sediments; trading in construction materials; development, leasing, and sale of housing units and buildings; trading of building materials; development, leasing, and sale of residential buildings; real estate trading; and construction projects of petrochemical and chemical plants. It also offers MRT, power plants, air-conditioning and mechatronics system, and infrastructure products and services. King Polytechnic Engineering Co., Ltd. was founded in 1982 and is headquartered in Taipei, Taiwan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

King Polytechnic Engineering Co reported revenue of 4.2B TWD in FY2025 versus 1.8B TWD in FY2021, a compound +23.6%/yr. Reported net income was 369M TWD in FY2025, compounding +60.4%/yr from FY2021.

Growth Quality 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
4.2B TWD
Latest YoY
+1.4%
Avg. growth/yr (3Y) 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.
+19.4%
Avg. growth/yr (5Y) 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.
+17.9%
Avg. growth/yr (9Y) 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.
+15.4%
Revenue +23.6%/yr
FY21 1.8B TWD
FY22 2.5B TWD
FY23 5.3B TWD
FY24 4.1B TWD
FY25 4.2B TWD
Net income +60.4%/yr
FY21 55.7M TWD
FY22 129M TWD
FY23 391M TWD
FY24 344M TWD
FY25 369M TWD

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Cite: Fair Value Calculator (2026). "King Polytechnic Engineering Co Fair Value". https://www.fairvalue-calculator.com/stock/6122

Peer Group

Engineering & Construction · 839 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 54 · Above median
Fair Value upside +72% · Top 25%
Return on equity (TTM) 21% · Top 25%
Return on assets 7% · Top 25%
Net margin (TTM) 9% · Top 25%
Operating margin (TTM) 12% · Top 25%
Revenue growth -8% · Below median
Dividend yield (TTM) 6.8% · Top 25%
Debt / equity 0.08× · Lower than median

Valuation Multiples vs Engineering & Construction median · lower = cheaper

P/E (TTM) 10.7× · Cheaper than median
P/B 2.03× · Pricier than median
P/S (TTM) 0.94× · Pricier than median
EV/EBITDA 7.8× · Cheaper than median

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 100 · sector 16
FUTURE 0 · sector 17
PAST 84 · sector 26
HEALTH 96 · sector 94
DIVIDEND 100 · sector 33

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 23, 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 King Polytechnic Engineering Co (6122) overvalued or undervalued?
As of Jul 23, 2026, our model estimates a fair value of 81.95 TWD versus a price of 47.60 TWD, about +72% (undervalued).
What is the fair value of 6122?
Our model-based fair value for King Polytechnic Engineering Co is 81.95 TWD (as of Jul 23, 2026), built from audited fundamentals. The current price is 47.60 TWD.
What is the quality score of 6122?
King Polytechnic Engineering Co has a Quality Score of 54/100. 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 King Polytechnic Engineering Co (6122)?
King Polytechnic Engineering Co reported trailing-twelve-month revenue of about 4.1B TWD (latest available figure, as of Jul 23, 2026).
What is the net profit margin of 6122?
The net profit margin of King Polytechnic Engineering Co is about 8.7%, meaning it keeps roughly 8.7% of revenue as net income. Based on the latest reported figures.
Does King Polytechnic Engineering Co pay a dividend?
King Polytechnic Engineering Co currently shows a dividend yield of about 7.37% relative to its recent price (as of Jul 23, 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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