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Full Wang International Development Co (6219) Fair Value & Analysis

Real Estate · TW · Market cap 1.7B TWD

FW Full Wang International Development Co 6219 · TWO
Price12.55 TWD
Fair Value9.33 TWD
Upside-25.7%
Quality20/100
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Weak Growth
Thin margins · 2.5% net margin
Moderate debt · negative free cash flow
Trails peers (4/11)
Narrow moat 28/100
Evidence: Low Range 5.18 TWD – 12.85 TWD Share as image

Fair value as of: Jul 21, 2026

From 3 valuation models · updated 20 days ago

Share price −2.3% over the past month.

Below-average quality, and screening another 26% overvalued on our models.

What matters now

  • Weak quality (20/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • A fairly wide model range (5.18 TWD to 12.85 TWD) leaves room in how you read the outcome.
  • Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
  • As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
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Price vs Fair Value (5 years)

51.11 TWD 11.70 TWD Fair Value 9.33 TWD Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 21, 2026.

How to read this chart

60‑month range 11.70 TWD – 51.11 TWD · fair‑value band 5.18 TWD – 12.85 TWD · the 12.55 TWD price screens above the 9.33 TWD fair value. Dashed = 300-day average. As of Jul 21, 2026.

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Analysis

Full Wang International Development Co (6219) currently trades at 12.55 TWD, while our model-based Fair Value estimate is 9.33 TWD, implying the stock looks roughly 25.7% overvalued today. The Quality Score stands at 20/100 (below-average quality), in the Real Estate 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: low).

Over the trailing twelve months, Full Wang International Development Co generated revenue of 3.9B TWD at a net margin of 2.5%. It earns a return on equity of 4.9%. Net debt stands at 10.4B TWD. Fundamentals as of Jul 21, 2026

Our scenario range runs from 5.18 TWD (bear case) to 12.85 TWD (bull case); at 12.55 TWD, the current price sits within 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 47% below its 52-week high and 10% above its 52-week low, currently below its 200-day average. For context, the median of 10 Real Estate peers we cover trades at -30% fair-value upside, at -26%, 6219 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
Gordon GGM 5.18 TWD 9.33 TWD 12.85 TWD 70
DDM Multi-Stage 5.18 TWD 8.53 TWD 9.97 TWD 61
NCAV (Graham) 7.96 TWD 10.67 TWD 15.92 TWD 50
All 3 models by family
Dividend Discount
Gordon GGM 5.18 TWD 9.33 TWD 12.85 TWD 70
DDM Multi-Stage 5.18 TWD 8.53 TWD 9.97 TWD 61
Asset-Based
NCAV (Graham) 7.96 TWD 10.67 TWD 15.92 TWD 50

Widest divergence: Asset-Based (10.67 TWD) versus Dividend Discount (8.53 TWD). Highest evidence: Gordon GGM (70).

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Key figures & financial health

Revenue (TTM) 3.9B TWD
Revenue growth (YoY) +18,840%
Net margin 2.5%
Return on equity 4.9%
Free cash flow −1.9B TWD FY2025
Operating margin 13.6%
More key figures
EPS (TTM) -0.7600 TWD
EPS growth (YoY) -48.1%
Net debt 10.4B TWD FY2025

Figures from reported company fundamentals · as of Jul 21, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 20/100

Of which business quality 21 · Market factors (momentum, volatility) 30

Profitability 5
Margins and returns on capital today
Quality Growth 20
Are margins and returns improving?
Cashflow 33
Earnings quality: real cash, not paper profit
Fin. Strength 8
Balance sheet, leverage, solvency risk
Investment 34
Disciplined investing over empire-building
Low Volatility 73
Calm price path (market factor)
Momentum 16
Price trend over the last 3–12 months (market factor)
52W Momentum 5
Distance to the 52-week high (market factor)
Net Issuance 40
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

Full Wang International Development Co., Ltd., together with its subsidiaries, engages in the real estate business in Taiwan. The company constructs, develops, and trades in real estate properties, as well as engages in leasing, and intermediary activities. It is also involved in the sale of cosmetics and skin care products.

Full company description

Full Wang International Development Co., Ltd., together with its subsidiaries, engages in the real estate business in Taiwan. The company constructs, develops, and trades in real estate properties, as well as engages in leasing, and intermediary activities. It is also involved in the sale of cosmetics and skin care products. The company was founded in 1986 and is based in Taichung, Taiwan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Full Wang International Development Co reported revenue of 2.8B TWD in FY2025 versus 3.2B TWD in FY2021, a compound −3.4%/yr. Reported net income was −95.2M TWD in FY2025.

Growth Quality 6/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
2.8B TWD
Latest YoY
−41.9%
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.
−2.8%
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.
−1.9%
Revenue −3.4%/yr
FY21 3.2B TWD
FY22 578M TWD
FY23 2.6B TWD
FY24 4.8B TWD
FY25 2.8B TWD
Net income
FY21 67.8M TWD
FY22 −978M TWD
FY23 193M TWD
FY24 605M TWD
FY25 −95.2M TWD
Character of growth · EPS growth decomposed (2012-2023) −9.5 % p.a.
Revenue per share +5.3 pp

of which total revenue +3.3 pp · buybacks/dilution +2.1 pp

EBIT margin −13.7 pp
Tax rate −2.0 pp
Residual (interest, one-offs) +0.8 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).

6219 screens 26% overvalued. Compare with Swiss Prime Site AG →

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Cite: Fair Value Calculator (2026). "Full Wang International Development Co Fair Value". https://www.fairvalue-calculator.com/stock/6219

Peer Group

Real Estate - Diversified · 137 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 21 · Bottom 25%
Fair Value upside −26% · Below median
Return on equity (TTM) 5% · Above median
Return on assets 1% · Below median
Net margin (TTM) 3% · Below median
Operating margin (TTM) 14% · Below median
Revenue growth 18840% · Top 25%
Dividend yield (TTM) 0.0% · Bottom 25%
Debt / equity 0.85× · Higher than median

Valuation Multiples vs Real Estate - Diversified median · lower = cheaper

P/S (TTM) 0.01× · Cheaper than 75% of peers
EV/EBITDA 4.1× · 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 0 · sector 46
FUTURE 100 · sector 32
PAST 20 · sector 17
HEALTH 57 · sector 75
DIVIDEND 0 · sector 45

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

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.

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Frequently asked questions

Is Full Wang International Development Co (6219) overvalued or undervalued?
As of Jul 21, 2026, our model estimates a fair value of 9.33 TWD versus a price of 12.55 TWD, about −26% (overvalued).
What is the fair value of 6219?
Our model-based fair value for Full Wang International Development Co is 9.33 TWD (as of Jul 21, 2026), built from audited fundamentals. The current price is 12.55 TWD.
What is the quality score of 6219?
Full Wang International Development Co has a Quality Score of 20/100. 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 Full Wang International Development Co (6219)?
Full Wang International Development Co reported trailing-twelve-month revenue of about 3.9B TWD (latest available figure, as of Jul 21, 2026).
What is the net profit margin of 6219?
The net profit margin of Full Wang International Development Co is about 2.5%, meaning it keeps roughly 2.5% 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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