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Dafeng TV Ltd (6184) Fair Value & Analysis

Communication Services · TW · Market cap 6.5B TWD

DT Dafeng TV Ltd 6184 · TW
Price42.20 TWD
Fair Value59.50 TWD
Upside+41.0%
Quality63/100
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Weak Growth
Solidly profitable · 16.6% net margin
Low debt · generates free cash flow
7.03% dividend yield
Ranks above peers (11/14)
Wide moat 65/100
Evidence: Medium Range 44.62 TWD – 74.37 TWD Share as image

Fair value as of: Jul 23, 2026

From 26 valuation models · updated 18 days ago

Share price −1.7% over the past month.

A solid business, screening 41% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (44.62 TWD). The market is more pessimistic than our downside scenario.
  • Solid quality (63/100) at a price below fair value, the discount is the argument here, not the business quality.
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Price vs Fair Value (5 years)

52.52 TWD 30.04 TWD Fair Value 59.50 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 30.04 TWD – 52.52 TWD · fair‑value band 44.62 TWD – 74.37 TWD · the 42.20 TWD price screens below the 59.50 TWD fair value. Dashed = 300-day average. As of Jul 23, 2026.

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Analysis

Dafeng TV Ltd (6184) currently trades at 42.20 TWD, while our model-based Fair Value estimate is 59.50 TWD, implying the stock looks roughly 41.0% undervalued today. The Quality Score stands at 63/100 (solid quality), in the Communication Services 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: medium), always confirm before acting.

Over the trailing twelve months, Dafeng TV Ltd generated revenue of 2.2B TWD at a net margin of 16.6%. Revenue grew 2.4% year over year. It earns a return on equity of 8.3%. The balance sheet holds a net cash position of 671M TWD. Fundamentals as of Jul 23, 2026

Our scenario range runs from 44.62 TWD (bear case) to 74.37 TWD (bull case); at 42.20 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 32% below its 52-week high, currently below its 200-day average. For context, the median of 10 Communication Services peers we cover trades at -52% fair-value upside, at 41%, 6184 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
Growth DCF 42.87 TWD 55.72 TWD 72.94 TWD 80
Residual Income 27.06 TWD 29.13 TWD 32.49 TWD 76
Rev-Margin DCF 40.67 TWD 56.60 TWD 74.30 TWD 74
All 26 models by family
DCF Models
FCF DCF 42.25 TWD 56.52 TWD 76.67 TWD 38
Owner Earnings 48.84 TWD 66.18 TWD 90.66 TWD 31
5Y Revenue Exit 40.67 TWD 56.38 TWD 75.97 TWD 39
5Y EBITDA Exit 56.43 TWD 85.10 TWD 117.88 TWD 41
5Y P/E Exit 47.74 TWD 69.25 TWD 91.21 TWD 38
10Y Revenue Exit 40.13 TWD 54.22 TWD 72.22 TWD 36
10Y EBITDA Exit 50.70 TWD 73.44 TWD 102.74 TWD 37
10Y P/E Exit 45.34 TWD 62.84 TWD 83.32 TWD 35
Earnings-Based
Graham-Dodd 18.39 TWD 49.87 TWD 65.35 TWD 54
Lynch FV 9.81 TWD 14.01 TWD 18.21 TWD 50
PEG = 1.0 9.81 TWD 14.01 TWD 18.21 TWD 46
EPV 41.21 TWD 45.88 TWD 49.91 TWD 59
Dividend Discount
Gordon GGM 26.02 TWD 51.84 TWD 78.51 TWD 70
DDM Multi-Stage 26.02 TWD 39.93 TWD 54.12 TWD 61
Multiples
P/E Multiple 44.62 TWD 59.50 TWD 74.37 TWD 63
P/S Multiple 34.48 TWD 45.97 TWD 57.47 TWD 58
P/B Multiple 34.48 TWD 45.97 TWD 57.47 TWD 55
EV/EBIT 60.35 TWD 76.59 TWD 92.83 TWD 53
EV/EBITDA 71.91 TWD 92.00 TWD 112.10 TWD 54
EV/Revenue 41.41 TWD 54.17 TWD 66.93 TWD 43
Asset-Based
NCAV (Graham) 16.16 TWD 21.65 TWD 32.31 TWD 50
Growth DCF
Growth DCF 42.87 TWD 55.72 TWD 72.94 TWD 80
Rev-Margin DCF 40.67 TWD 56.60 TWD 74.30 TWD 74
Economic Profit
Residual Income 27.06 TWD 29.13 TWD 32.49 TWD 76
ROIC Compounder 42.54 TWD 49.83 TWD 58.12 TWD 72
Growth Earnings
Growth-Adj P/E 35.12 TWD 50.17 TWD 65.21 TWD 68

Widest divergence: DCF Models (62.84 TWD) versus Earnings-Based (14.01 TWD). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 2.2B TWD
Revenue growth (YoY) +2.4%
Net margin 16.6%
Return on equity 8.3%
Free cash flow 446M TWD FY2025
P/E ratio 20.6
More key figures
Operating margin 32.1%
EPS (TTM) 2.28 TWD
Dividend yield 6.4%
EPS growth (YoY) -17.8%
Net cash 671M TWD FY2025

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

Quality Score breakdown

Overall quality 63/100

Of which business quality 62 · Market factors (momentum, volatility) 47

Profitability 38
Margins and returns on capital today
Quality Growth 25
Are margins and returns improving?
Cashflow 79
Earnings quality: real cash, not paper profit
Fin. Strength 80
Balance sheet, leverage, solvency risk
Investment 65
Disciplined investing over empire-building
Low Volatility 100
Calm price path (market factor)
Momentum 32
Price trend over the last 3–12 months (market factor)
52W Momentum 10
Distance to the 52-week high (market factor)
Net Issuance 78
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

Dafeng TV Ltd., together with its subsidiaries, engages in cable television system and broadband business in Taiwan. The company leases videos, broadband, channels, and circuits. It is also involved in the cable installation engineering, management consulting, and general advertising activities. The company was formerly known as Dah Fung CATV Co. Ltd.

Full company description

Dafeng TV Ltd., together with its subsidiaries, engages in cable television system and broadband business in Taiwan. The company leases videos, broadband, channels, and circuits. It is also involved in the cable installation engineering, management consulting, and general advertising activities. The company was formerly known as Dah Fung CATV Co. Ltd. and changed its name to Dafeng TV Ltd. in December 2009. Dafeng TV Ltd. was incorporated in 1996 and is based in New Taipei City, Taiwan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Dafeng TV Ltd reported revenue of 2.2B TWD in FY2025 versus 2.0B TWD in FY2021, a compound +1.8%/yr. Reported net income was 412M TWD in FY2025, compounding −5.7%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
2.2B TWD
Latest YoY
+1.8%
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.
+2.3%
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.
+1.5%
Avg. growth/yr (23Y) 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.
+6.8%
Revenue +1.8%/yr
FY21 2.0B TWD
FY22 2.0B TWD
FY23 2.1B TWD
FY24 2.1B TWD
FY25 2.2B TWD
Net income −5.7%/yr
FY21 520M TWD
FY22 516M TWD
FY23 522M TWD
FY24 532M TWD
FY25 412M TWD
Character of growth · EPS growth decomposed (2014-2025) +3.9 % p.a.
Revenue per share +4.4 pp

of which total revenue +5.2 pp · buybacks/dilution −0.8 pp

EBIT margin +3.0 pp
Tax rate −0.1 pp
Residual (interest, one-offs) −3.6 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

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Cite: Fair Value Calculator (2026). "Dafeng TV Ltd Fair Value". https://www.fairvalue-calculator.com/stock/6184

Peer Group

Entertainment · 265 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 63 · Top 25%
Fair Value upside +41% · Top 25%
Return on equity (TTM) 8% · Top 25%
Return on assets 5% · Top 25%
Net margin (TTM) 17% · Top 25%
Operating margin (TTM) 32% · Top 25%
Revenue growth 2% · Above median
Dividend yield (TTM) 7.0% · Top 25%
Debt / equity 0.26× · Higher than median

Valuation Multiples vs Entertainment median · lower = cheaper

P/E (TTM) 18.7× · Cheaper than median
P/B 1.32× · Pricier than median
P/S (TTM) 2.99× · Pricier than 75% of peers
P/FCF 0.5× · Cheaper than median
EV/EBITDA 4.6× · Cheaper 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 88 · sector 6
FUTURE 12 · sector 10
PAST 33 · sector 0
HEALTH 87 · sector 97
DIVIDEND 100 · sector 44

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 Entertainment stocks, each showing price versus our Fair Value estimate (as of Jul 23, 2026).

Stock Price Fair Value vs Fair Value
Netflix, Inc ZNFL C$6.77 C$2.96 -56%
The Walt Disney Company DIS $96.30 $89.55 -7%
Warner Bros. Discovery, Inc WBD $26.87 $9.13 -66%
Live Nation Entertainment, Inc LYV $178.44 $46.89 -74%
Universal Music Group UMG €18.91 €14.78 -22%
TKO Group TKO $184.40 $22.16 -88%
Empresas Cablevisión, S.A. CABLECPO 55.00 MXN 60.49 MXN +10%
Beijing Enlight Media Co 300251 ¥11.77 ¥10.97 -7%
PT MNC Digital Entertainment Tbk, MSIN 456.00 IDR 221.09 IDR -52%
Prime Focus Limited PFOCUS ₹298.25 ₹63.45 -79%

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Frequently asked questions

Is Dafeng TV Ltd (6184) overvalued or undervalued?
As of Jul 23, 2026, our model estimates a fair value of 59.50 TWD versus a price of 42.20 TWD, about +41% (undervalued).
What is the fair value of 6184?
Our model-based fair value for Dafeng TV Ltd is 59.50 TWD (as of Jul 23, 2026), built from audited fundamentals. The current price is 42.20 TWD.
What is the quality score of 6184?
Dafeng TV Ltd has a Quality Score of 63/100. 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 Dafeng TV Ltd (6184)?
Dafeng TV Ltd reported trailing-twelve-month revenue of about 2.2B TWD (latest available figure, as of Jul 23, 2026).
What is the net profit margin of 6184?
The net profit margin of Dafeng TV Ltd is about 16.6%, meaning it keeps roughly 16.6% of revenue as net income. Based on the latest reported figures.
Does Dafeng TV Ltd pay a dividend?
Dafeng TV Ltd currently shows a dividend yield of about 6.44% 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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