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TMP Steel Corporation (6248) Fair Value & Analysis

Basic Materials · TW · Market cap 1.7B TWD

TS TMP Steel Corporation 6248 · TWO
Price17.90 TWD
Fair Value17.38 TWD
Upside-2.9%
Quality38/100
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Expensive Growth
Thin margins · 1.8% net margin
Low debt · generates free cash flow
6.63% dividend yield
Mixed vs. peers (8/14)
Narrow moat 30/100
Evidence: High Range 12.31 TWD – 21.72 TWD Share as image

Fair value as of: Jul 21, 2026

From 23 valuation models · updated 20 days ago

Fair value updated Jul 21, 2026, revised from 26.96 TWD to 17.38 TWD (−35.5%) since Jul 21, 2026. Share price −1.1% over the past month.

Below-average quality, currently priced close to our fair value.

What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • Our model range runs from 12.31 TWD (bear) to 21.72 TWD (bull), base 17.38 TWD. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 38/100 (below-average quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

36.30 TWD 15.71 TWD Fair Value 17.38 TWD Mar 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 15.71 TWD – 36.30 TWD · fair‑value band 12.31 TWD – 21.72 TWD · the 17.90 TWD price screens above the 17.38 TWD fair value. Dashed = 300-day average. As of Jul 21, 2026.

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Analysis

TMP Steel Corporation (6248) currently trades at 17.90 TWD, while our model-based Fair Value estimate is 17.38 TWD, implying the stock looks roughly 2.9% fairly valued today. The Quality Score stands at 38/100 (below-average quality), in the Basic Materials 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, TMP Steel Corporation generated revenue of 7.7B TWD at a net margin of 2.0%. Revenue declined 17.3% year over year. It earns a return on equity of 6.5%. Net debt stands at 729M TWD. Fundamentals as of Jul 21, 2026

Our scenario range runs from 12.31 TWD (bear case) to 21.72 TWD (bull case); at 17.90 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 30% below its 52-week high and 2% above its 52-week low, currently below its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -7% fair-value upside, at -3%, 6248 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 2.64 TWD 6.04 TWD 11.09 TWD 80
Residual Income 18.31 TWD 18.61 TWD 18.01 TWD 76
ROIC Compounder 10.01 TWD 11.57 TWD 12.87 TWD 72
All 23 models by family
DCF Models
FCF DCF 2.81 TWD 5.58 TWD 12.18 TWD 38
Owner Earnings 2.66 TWD 6.49 TWD 13.19 TWD 31
5Y Revenue Exit 11.36 TWD 25.88 TWD 48.07 TWD 39
5Y EBITDA Exit 13.45 TWD 30.58 TWD 54.79 TWD 41
5Y P/E Exit 12.56 TWD 28.85 TWD 49.34 TWD 38
10Y Revenue Exit 7.60 TWD 20.00 TWD 40.64 TWD 36
10Y EBITDA Exit 9.47 TWD 23.36 TWD 48.22 TWD 37
10Y P/E Exit 8.91 TWD 21.93 TWD 43.64 TWD 35
Earnings-Based
Graham-Dodd 10.78 TWD 67.27 TWD 93.94 TWD 54
Lynch FV 19.36 TWD 27.66 TWD 35.96 TWD 50
PEG = 1.0 19.36 TWD 27.66 TWD 35.96 TWD 46
EPV 10.01 TWD 11.57 TWD 12.87 TWD 59
Multiples
P/E Multiple 20.22 TWD 26.96 TWD 33.70 TWD 63
P/S Multiple 20.22 TWD 26.96 TWD 33.70 TWD 58
P/B Multiple 20.22 TWD 26.96 TWD 33.70 TWD 55
EV/EBIT 18.26 TWD 24.82 TWD 31.39 TWD 53
EV/EBITDA 20.22 TWD 27.44 TWD 34.66 TWD 54
EV/Revenue 15.63 TWD 22.95 TWD 30.26 TWD 43
Asset-Based
NCAV (Graham) 12.18 TWD 16.32 TWD 24.36 TWD 50
Growth DCF
Growth DCF 2.64 TWD 6.04 TWD 11.09 TWD 80
Economic Profit
Residual Income 18.31 TWD 18.61 TWD 18.01 TWD 76
ROIC Compounder 10.01 TWD 11.57 TWD 12.87 TWD 72
Growth Earnings
Growth-Adj P/E 25.28 TWD 36.12 TWD 46.96 TWD 68

Widest divergence: Growth Earnings (36.12 TWD) versus Growth DCF (6.04 TWD). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 7.7B TWD
Revenue growth (YoY) -17.3%
Net margin 2.0%
Return on equity 6.5%
Free cash flow 33.9M TWD FY2025
P/E ratio 12.0
More key figures
Operating margin 3.6%
EPS (TTM) 1.52 TWD
EPS growth (YoY) +122%
Net debt 729M TWD FY2025

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

Quality Score breakdown

Overall quality 38/100

Of which business quality 42 · Market factors (momentum, volatility) 39

Profitability 41
Margins and returns on capital today
Quality Growth 29
Are margins and returns improving?
Cashflow 30
Earnings quality: real cash, not paper profit
Fin. Strength 67
Balance sheet, leverage, solvency risk
Investment 32
Disciplined investing over empire-building
Low Volatility 93
Calm price path (market factor)
Momentum 21
Price trend over the last 3–12 months (market factor)
52W Momentum 6
Distance to the 52-week high (market factor)
Net Issuance 42
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

TMP Steel Corporation, together with its subsidiary, manufactures and sells iron and steel building materials in Taiwan.

Full company description

TMP Steel Corporation, together with its subsidiary, manufactures and sells iron and steel building materials in Taiwan. The company offers steel reinforcing bars for use in building projects, including high-rises, factories, public construction, and social welfare initiatives; and fabrication processing services, such as custom rebar cutting, bending, processing, and forming services. It is also involved in wholesaling and retailing of building materials. The company was formerly known as TMP International Corporation and changed its name to TMP Steel Corporation in July 2016. TMP Steel Corporation was incorporated in 1984 and is based in Changhua, Taiwan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

TMP Steel Corporation reported revenue of 7.7B TWD in FY2025 versus 4.4B TWD in FY2021, a compound +14.7%/yr. Reported net income was 152M TWD in FY2025, compounding +27.3%/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)
7.7B TWD
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.
+28.0%
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.
+25.3%
Avg. growth/yr (8Y) 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.
+23.2%
Revenue +14.7%/yr
FY21 4.4B TWD
FY22 6.6B TWD
FY23 7.8B TWD
FY24 9.3B TWD
FY25 7.7B TWD
Net income +27.3%/yr
FY21 58.0M TWD
FY22 177M TWD
FY23 263M TWD
FY24 231M TWD
FY25 152M TWD

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Cite: Fair Value Calculator (2026). "TMP Steel Corporation Fair Value". https://www.fairvalue-calculator.com/stock/6248

Peer Group

Steel · 378 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 38 · Bottom 25%
Fair Value upside −3% · Above median
Return on equity (TTM) 6% · Above median
Return on assets 3% · Above median
Net margin (TTM) 2% · Below median
Operating margin (TTM) 2% · Below median
Revenue growth -22% · Bottom 25%
Dividend yield (TTM) 6.6% · Top 25%
Debt / equity 0.18× · Higher than median

Valuation Multiples vs Steel median · lower = cheaper

P/E (TTM) 11.7× · Cheaper than 75% of peers
P/B 0.73× · Cheaper than median
P/S (TTM) 0.24× · Cheaper than median
P/FCF 1.6× · Pricier than median
EV/EBITDA 8.1× · 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 29 · sector 19
FUTURE 0 · sector 4
PAST 24 · sector 15
HEALTH 91 · sector 95
DIVIDEND 100 · sector 41

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 Steel stocks, each showing price versus our Fair Value estimate (as of Jul 21, 2026).

Stock Price Fair Value vs Fair Value
Tata Steel Limited TTST $0.2010 $0.2000 -0%
JSW Steel Limited JSWSTEEL ₹1,227 ₹1,140 -7%
Baoshan Iron & Steel Co 600019 ¥5.89 ¥8.07 +37%
China Steel Corporation 2002A 38.55 TWD 8.74 TWD -77%
POSCO Holdings 005490 313,500 KRW 155,270 KRW -50%
Companhia Siderúrgica Nacional, SID 13,670 ARS 15,940 ARS +17%
Jindal Steel Limited JINDALSTEL ₹1,028 ₹545.12 -47%
Lloyds Metals and Energy Limited LLOYDSME ₹1,844 ₹1,098 -40%
Gerdau S.A GGBN 83.50 MXN 42.64 MXN -49%
Ternium S.A TXR 17,780 ARS 27,210 ARS +53%

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Frequently asked questions

Is TMP Steel Corporation (6248) overvalued or undervalued?
As of Jul 21, 2026, our model estimates a fair value of 17.38 TWD versus a price of 17.90 TWD, about −3% (fairly valued).
What is the fair value of 6248?
Our model-based fair value for TMP Steel Corporation is 17.38 TWD (as of Jul 21, 2026), built from audited fundamentals. The current price is 17.90 TWD.
What is the quality score of 6248?
TMP Steel Corporation has a Quality Score of 38/100. 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 TMP Steel Corporation (6248)?
TMP Steel Corporation reported trailing-twelve-month revenue of about 7.7B TWD (latest available figure, as of Jul 21, 2026).
What is the net profit margin of 6248?
The net profit margin of TMP Steel Corporation is about 2.0%, meaning it keeps roughly 2.0% 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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