Dafeng TV Ltd (6184) fair value: what the stock is really worth
As of Nov 9, 2026: fair value (intrinsic value) of Dafeng TV Ltd stock TWD 42.64, price TWD 38.15, upside +11.8%, quality 49 out of 100. Rating: 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 8, 2026.
How to read this chart
60‑month range 30.91 TWD – 52.52 TWD · fair‑value band 30.33 TWD – 55.43 TWD · the 38.15 TWD price screens below the 42.64 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 8, 2026.
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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.
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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.
Stock analysis
Dafeng TV Ltd (6184) currently trades at 38.15 TWD, while our model-based Fair Value estimate is 42.64 TWD, implying the stock looks roughly 11% undervalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of 54.83 TWD per share, and 18 of the 26 models we run sit above the 38.15 TWD price.
Bear case: the Asset-Based group reads lowest at 10.94 TWD, and 8 of the 26 models stay below the price. Data coverage for this calculation is medium.
Scenario range: 30.33 TWD (bear) to 55.43 TWD (bull), the price of 38.15 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 49/100 (below-average quality), in the Communication Services sector.
Weak Growth: Growth has flattened: the last year, three and five years all grew more slowly than the long-term average.
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.
Key figures
Market cap 7.4B TWD (≈ $224M) Micro · P/E ratio 18.3 · P/S ratio 3.37 · EPS (TTM) 2.08 TWD · Dividend yield 7.9% · Net margin 16.2% · Return on equity 8.6% · Return on assets (EBIT) 8.3% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 63 out of 100 (low confidence).
What moves the price
The share trades about 18% below its 52-week high and 1% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Communication Services peers we cover trades at −13% fair-value upside, at 12%, 6184 screens cheaper than that median.
Fair Value models
Bear30.33 TWDFair Value 42.64 TWDBull55.43 TWD
Price 38.15 TWD · Upside +11.8%
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.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 DCF35.57 TWD43.23 TWD52.18 TWD82
Growth DCF35.68 TWD42.42 TWD49.89 TWD80
Owner Earnings35.67 TWD43.37 TWD52.35 TWD78
All 26 models by family
DCF Models
FCF DCF35.57 TWD43.23 TWD52.18 TWD82
Owner Earnings35.67 TWD43.37 TWD52.35 TWD78
5Y Revenue Exit37.69 TWD51.02 TWD67.58 TWD73
5Y EBITDA Exit51.02 TWD75.26 TWD102.89 TWD75
5Y P/E Exit43.67 TWD61.89 TWD80.42 TWD71
10Y Revenue Exit35.79 TWD46.16 TWD59.25 TWD68
10Y EBITDA Exit43.35 TWD59.85 TWD80.92 TWD69
10Y P/E Exit39.51 TWD52.30 TWD67.13 TWD65
Earnings-Based
Graham-Dodd18.39 TWD49.87 TWD65.35 TWD65
Lynch FV9.81 TWD14.01 TWD18.21 TWD61
PEG = 1.09.81 TWD14.01 TWD18.21 TWD57
EPV33.65 TWD36.14 TWD38.13 TWD74
Dividend Discount
Gordon GGM19.58 TWD31.81 TWD40.36 TWD69
DDM Multi-Stage19.58 TWD27.46 TWD33.94 TWD67
Multiples
P/E Multiple44.62 TWD59.50 TWD74.37 TWD63
P/S Multiple34.48 TWD45.97 TWD57.47 TWD58
P/B Multiple37.61 TWD50.15 TWD62.69 TWD55
EV/EBIT53.12 TWD69.36 TWD85.60 TWD66
EV/EBITDA64.68 TWD84.78 TWD104.87 TWD67
EV/Revenue34.18 TWD46.94 TWD59.70 TWD54
Asset-Based
NCAV (Graham)8.17 TWD10.94 TWD16.33 TWD54
Growth DCF
Growth DCF35.68 TWD42.42 TWD49.89 TWD80
Rev-Margin DCF37.69 TWD51.28 TWD66.38 TWD74
Economic Profit
Residual Income24.31 TWD25.39 TWD27.44 TWD76
ROIC Compounder33.83 TWD37.14 TWD40.54 TWD72
Growth Earnings
Growth-Adj P/E35.12 TWD50.17 TWD65.21 TWD67
The fair value above starts from this blend and is adjusted for dilution from new shares.
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
Growth has flattened: the last year, three and five years all grew more slowly than the long-term average.
Revenue growth 1 year
+1.8%
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.
+2.3%
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.
+1.5%
Start year 2020 (pandemic). Over 10 years: +2.6% a year
Revenue growth 23 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.
+6.8%
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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.
+2.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year−5.4%
Dividend (yield on the price)7.9%
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.−5.4% vs 1.6%, 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.33% → 29%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes more 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).
+10.5%
Yearly growth needed for the next five years to justify today's price.
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 +8.8% 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.Entertainment · 221 stocks
Beats the industry median on 8/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score49 · Below median
Fair Value upside+12.4% · Above median
Profitability
Return on equity (12 months)8.6% · Above median
Return on assets4.5% · Top 25%
Net margin (12 months)16.2% · Top 25%
Operating margin (12 months)28.3% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)1.0% · Below median
Dividend yield (12 months)7.9% · Top 25%
Balance sheet
Debt / equity0.26× · Above median
Valuation Multiplesvs Entertainment median · lower = cheaper
P/E (12 months)18.3× · Cheaper than median
P/B1.49× · Pricier than median
P/S (12 months)3.37× · Pricier than median
Price / free cash flow (fiscal year)16.4× · Pricier than median
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). "Dafeng TV Ltd Fair Value". https://www.fairvalue-calculator.com/stock/6184
Frequently asked questions
Is Dafeng TV Ltd (6184) overvalued or undervalued?
As of Nov 8, 2026, our model estimates a fair value of 42.64 TWD versus a price of 38.15 TWD, about +12% upside (undervalued).
What is the fair value of 6184?
Our model-based fair value for Dafeng TV Ltd is 42.64 TWD (as of Nov 8, 2026), built from audited fundamentals. The current price: 38.15 TWD.
What is the quality score of 6184?
Dafeng TV Ltd has a Quality Score of 49/100. 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 Dafeng TV Ltd (6184)?
Our model-based price target is the fair value of 42.64 TWD (as of Nov 8, 2026) from 26 valuation models. Cautious scenario 30.33 TWD, optimistic scenario 55.43 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Dafeng TV Ltd stock forecast for 2026?
Our models put fair value at 42.64 TWD, about +12% upside versus a price of 38.15 TWD (undervalued). Cautious scenario 30.33 TWD, optimistic scenario 55.43 TWD. The calculation is refreshed regularly with new filings.
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 Nov 8, 2026).
Does Dafeng TV Ltd pay a dividend?
Dafeng TV Ltd currently shows a dividend yield of 7.86% relative to its recent price (as of Nov 8, 2026).
How much is the dividend of Dafeng TV Ltd (6184) and when is the ex-dividend date?
Dafeng TV Ltd pays a dividend of 3.00 TWD per share a year, a dividend yield of 7.9%. The last ex-dividend date was Jun 24, 2026. A dividend has been paid every year since at least 2003. The payout ratio is 144% of earnings. Free cash flow covers the dividend 0.98 times. Our assessment: Payout strained. The dividend exceeds reported earnings (though reported profit is often depressed by one-off charges), and free cash flow only just covers it (or coverage is unknown). Not an emergency, but little room for error.
What growth is priced into Dafeng TV Ltd (6184)?
For today's price to be fair in a discounted-cash-flow model, Dafeng TV Ltd would have to grow free cash flow by +10.5 % per year for five years (discount rate 13.3 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +1.5 % per year. As of Nov 8, 2026.
What discount rate (WACC) does the fair value of 6184 use?
Our models discount Dafeng TV Ltd at 13.3 %: a base by market capitalisation (micro), 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 Dafeng TV Ltd that is +10.5 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (13.3 %) and the same formula as our fair value.
How much growth has Dafeng TV Ltd (6184) delivered so far?
Over the past 5 years revenue at Dafeng TV Ltd grew +1.5 % a year. The price currently implies free-cash-flow growth of +10.5 % 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 Dafeng TV Ltd (6184) growing?
The median revenue growth in the sector is +3.8 % a year. That is the yardstick for the growth priced into Dafeng TV Ltd (+10.5 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Dafeng TV Ltd (6184)?
The free-cash-flow yield on the price is 6.06 %: that much free cash flow Dafeng TV Ltd produces per unit of market value. When it exceeds the discount rate of our models (13.3 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Dafeng TV Ltd (6184)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Dafeng TV Ltd it is 42.64 TWD per share (as of Nov 8, 2026), against a price of 38.15 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 Dafeng TV Ltd stock overvalued or undervalued in 2026?
As of Nov 8, 2026, 6184 trades below its calculated fair value: price 38.15 TWD, fair value 42.64 TWD, a gap of about +12% (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 6184?
No. The price is what the market pays today (38.15 TWD); the fair value is what the company's own numbers justify (42.64 TWD). For Dafeng TV Ltd the two are 4.49 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Dafeng TV Ltd worth?
The market values Dafeng TV Ltd at about 7.4B TWD (market capitalisation, as of Nov 8, 2026). Per share that is 38.15 TWD; our models calculate a fair value of 42.64 TWD per share.
What do the bullish and bearish scenarios say about 6184?
Our models span a range for Dafeng TV Ltd: cautious scenario 30.33 TWD, base 42.64 TWD, optimistic 55.43 TWD per share (as of Nov 8, 2026, price 38.15 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 6184?
Dafeng TV Ltd trades at a price-to-earnings ratio of 18.3 (as of Nov 8, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 42.64 TWD is built from several models across several years. Median P/E at fiscal year-end, 9 fiscal years (2017 to 2025), reported earnings: 14.7. Other multiples: P/B 1.5, P/S 3.4, EV/EBITDA 5.5.
How solid is the balance sheet of Dafeng TV Ltd (6184)?
Balance-sheet figures for Dafeng TV Ltd (as of Nov 8, 2026): return on equity 8.6%, debt of 0.26 per unit of equity. They feed the Quality Score of 49/100, which measures business quality independently of the share price.
How far is 6184 from its 52-week high?
Dafeng TV Ltd trades at 38.15 TWD, about 18% below its 52-week high of 46.34 TWD and 1% above the low of 37.95 TWD (as of Nov 9, 2026). Distance from the high says nothing about value: that is what the fair value of 42.64 TWD is for.
Which stocks are comparable to Dafeng TV Ltd?
From the same area (Communication Services) we also value Netflix, Inc, The Walt Disney Company, Live Nation Entertainment, Inc, TKO Group, 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 Dafeng TV Ltd stock attractive at the current price?
The data as of Nov 8, 2026: price 38.15 TWD, calculated fair value 42.64 TWD (+12%), Quality Score 49/100, 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 6184 calculated?
We run Dafeng TV 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 42.64 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. Dafeng TV Ltd currently trades 11% 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 Dafeng TV Ltd (6184)?
The closing price on Nov 9, 2026 was 38.15 TWD. Our model-based fair value is 42.64 TWD, about +12% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Dafeng TV Ltd right now?
A fairly wide model range (30.33 TWD to 55.43 TWD) leaves room in how you read the outcome. The price sits in the lower half of our model range, the side with the larger margin of safety. Read the verdict with care: some models are missing inputs, so the estimate scatters more than usual.
Where does the earnings growth of Dafeng TV Ltd (6184) come from?
Earnings per share at Dafeng TV Ltd grew +3.9 % a year from 2014 to 2025. Broken into its drivers: revenue per share +4.4 %, EBIT margin +3.0 %, tax rate −0.1 %, residual (interest, one-offs) −3.4 %. 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 Dafeng TV Ltd
How large is the market capitalisation of Dafeng TV Ltd (6184)?
The market capitalisation of Dafeng TV Ltd is 7.4B TWD (≈ $224M). 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 Dafeng TV Ltd (6184)?
The price-to-sales ratio of Dafeng TV Ltd is 3.37 (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 Dafeng TV Ltd (6184)?
Earnings per share at Dafeng TV Ltd are 2.08 TWD (price ÷ EPS = P/E 18.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Dafeng TV Ltd (6184)?
The dividend yield of Dafeng TV Ltd is 7.9% (payout 144%). 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 Dafeng TV Ltd (6184)?
The net margin of Dafeng TV Ltd is 16.2% (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 Dafeng TV Ltd (6184)?
The return on equity (ROE) of Dafeng TV Ltd is 8.6% (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 Dafeng TV Ltd (6184)?
On an EBIT basis the return on assets of Dafeng TV Ltd is 8.3% (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 Dafeng TV Ltd (6184)?
The operating margin of Dafeng TV Ltd is 28.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Dafeng TV Ltd (6184)?
Revenue at Dafeng TV Ltd is growing +1.0% versus a year earlier (3y avg +2.3%). 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 Dafeng TV Ltd (6184)?
Earnings per share at Dafeng TV Ltd are growing −8.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Dafeng TV Ltd (6184) hold?
Dafeng TV Ltd holds more cash than debt, 671M TWD net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Nov 8, 2026