Hotai Finance Corp (6592) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Hotai Finance Corp stock TWD 81.43, price TWD 55.80, upside +45.9%, quality 53 out of 100. Rating: undervalued. Calculated from audited financials with 13 of our 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 6, 2026.
How to read this chart
60‑month range 52.37 TWD – 117.41 TWD · fair‑value band 49.43 TWD – 116.51 TWD · the 55.80 TWD price screens below the 81.43 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 6, 2026.
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Hotai Finance Co., Ltd. provides sales and leasing services for vehicles and equipment in Taiwan and China.
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The company offers installment and refinancing installment loans for new/used cars, heavy motorcycles, and scooters; installment loans for commodities and equipment; and raw materials financing services. It also provides mobile payments and digital services.
The company was incorporated in 1999 and is based in Taipei, Taiwan.
Stock analysis
Hotai Finance Corp (6592) currently trades at 55.80 TWD, while our model-based Fair Value estimate is 81.43 TWD, implying the stock looks roughly 31% undervalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of 105.45 TWD per share, and 7 of the 13 models we run sit above the 55.80 TWD price.
Bear case: the Asset-Based group reads lowest at 29.57 TWD, and 6 of the 13 models stay below the price. Data coverage for this calculation is high.
Scenario range: 49.43 TWD (bear) to 116.51 TWD (bull), the price of 55.80 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 53/100 (solid quality), in the Financial Services sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Hotai Finance Corp reported revenue of 23.7B TWD in FY2025 versus 18.0B TWD in FY2021, a compound +7.2%/yr. Reported net income was 3.4B TWD in FY2025, compounding +1.8%/yr from FY2021.
Key figures
Market cap 35.8B TWD (≈ $1.1B) Small · P/E ratio 11.3 · P/S ratio 1.88 · EPS (TTM) 4.93 TWD · Dividend yield 5.2% · Net margin 18.9% · Return on equity 8.7% · Return on assets (EBIT) 2.4% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 53 out of 100 (medium confidence).
What moves the price
The share trades about 10% below its 52-week high and 6% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −3% fair-value upside, at 46%, 6592 screens cheaper than that median.
Fair Value models
Bear49.43 TWDFair Value 81.43 TWDBull116.51 TWD
Price 55.80 TWD · Upside +45.9%
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. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (1.72 TWD per share) are deliberately not added.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.
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.80/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−18.2%
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.
+1.3%
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.
+10.1%
Start year 2020 (pandemic). Over 10 years: +6.5% a year
Revenue growth 12 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.
+8.6%
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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.
+2.7%
Earnings growth per share plus dividend.
Earnings per share, growth per year−2.5%
Dividend (yield on the price)5.2%
Per share before 2026divided by the spin-off factor 1.03
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.−2.5% vs 4.8%, 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.31% → 17%
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.Credit Services · 283 stocks
Beats the industry median on 6/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score53 · Below median
Fair Value upside+45.9% · Above median
Profitability
Return on equity (12 months)8.7% · Below median
Return on assets1.0% · Bottom 25%
Net margin (12 months)18.9% · Below median
Operating margin (12 months)24.5% · Below median
Growth and dividend
Revenue growth (quarter YoY)1.5% · Below median
Dividend yield (12 months)5.2% · Above median
Balance sheet
Debt / equity0.23× · Below median
Valuation Multiplesvs Credit Services median · lower = cheaper
P/E (12 months)11.3× · Pricier than median
P/B0.93× · Cheaper than median
P/S (12 months)1.88× · Cheaper than median
Price / free cash flow (fiscal year)6.6× · Pricier than median
EV/EBITDA8.9× · Cheaper than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)95· sector 59
FUTURE (revenue growth)8· sector 57
PAST (return on equity)35· sector 39
HEALTH (low debt)–
DIVIDEND (yield)100· sector 63
HEALTH: for banks, insurers and similar financial firms borrowed money is part of the business, so we do not rate debt here.
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.
Is Hotai Finance Corp (6592) overvalued or undervalued?
As of Nov 6, 2026, our model estimates a fair value of 81.43 TWD versus a price of 55.80 TWD, about +46% upside (undervalued).
What is the fair value of 6592?
Our model-based fair value for Hotai Finance Corp is 81.43 TWD (as of Nov 6, 2026), built from audited fundamentals. The current price: 55.80 TWD.
What is the quality score of 6592?
Hotai Finance Corp has a Quality Score of 53/100. 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 Hotai Finance Corp (6592)?
Our model-based price target is the fair value of 81.43 TWD (as of Nov 6, 2026) from 13 valuation models. Cautious scenario 49.43 TWD, optimistic scenario 116.51 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Hotai Finance Corp stock forecast for 2026?
Our models put fair value at 81.43 TWD, about +46% upside versus a price of 55.80 TWD (undervalued). Cautious scenario 49.43 TWD, optimistic scenario 116.51 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Hotai Finance Corp (6592)?
Hotai Finance Corp reported trailing-twelve-month revenue of about 19.1B TWD (latest available figure, as of Nov 6, 2026).
Does Hotai Finance Corp pay a dividend?
Hotai Finance Corp currently shows a dividend yield of 5.22% relative to its recent price (as of Nov 6, 2026).
How much is the dividend of Hotai Finance Corp (6592) and when is the ex-dividend date?
Hotai Finance Corp pays a dividend of 2.91 TWD per share a year, a dividend yield of 5.2%. The last ex-dividend date was Jun 30, 2026. A dividend has been paid every year since at least 2019. The payout ratio is 59.1% of earnings. Our assessment: Low payout. A low payout ratio: the dividend takes at most 60 % of earnings. Whether free cash flow covers it as well, we cannot see for this company.
What is the intrinsic value of Hotai Finance Corp (6592)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Hotai Finance Corp it is 81.43 TWD per share (as of Nov 6, 2026), against a price of 55.80 TWD. It is the blended result of 13 valuation models in 7 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit).
Is Hotai Finance Corp stock overvalued or undervalued in 2026?
As of Nov 6, 2026, 6592 trades below its calculated fair value: price 55.80 TWD, fair value 81.43 TWD, a gap of about +46% (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 6592?
No. The price is what the market pays today (55.80 TWD); the fair value is what the company's own numbers justify (81.43 TWD). For Hotai Finance Corp the two are 25.63 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Hotai Finance Corp worth?
The market values Hotai Finance Corp at about 35.8B TWD (market capitalisation, as of Nov 6, 2026). Per share that is 55.80 TWD; our models calculate a fair value of 81.43 TWD per share.
What do the bullish and bearish scenarios say about 6592?
Our models span a range for Hotai Finance Corp: cautious scenario 49.43 TWD, base 81.43 TWD, optimistic 116.51 TWD per share (as of Nov 6, 2026, price 55.80 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 6592?
Hotai Finance Corp trades at a price-to-earnings ratio of 11.3 (as of Nov 6, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 81.43 TWD is built from several models across several years. Other multiples: P/B 0.9, P/S 1.9, EV/EBITDA 8.9.
How solid is the balance sheet of Hotai Finance Corp (6592)?
Balance-sheet figures for Hotai Finance Corp (as of Nov 6, 2026): return on equity 8.7%, debt of 0.23 per unit of equity. They feed the Quality Score of 53/100, which measures business quality independently of the share price.
How far is 6592 from its 52-week high?
Hotai Finance Corp trades at 55.80 TWD, about 10% below its 52-week high of 62.10 TWD and 6% above the low of 52.48 TWD (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 81.43 TWD is for.
Which stocks are comparable to Hotai Finance Corp?
From the same area (Financial Services) we also value Visa Inc, Mastercard Incorporated, American Express Company, Capital One Financial Corporation, 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 Hotai Finance Corp stock attractive at the current price?
The data as of Nov 6, 2026: price 55.80 TWD, calculated fair value 81.43 TWD (+46%), Quality Score 53/100, from 13 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 6592 calculated?
We run Hotai Finance Corp through 13 models from 7 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit. Every model gets the same audited fundamentals; the fair value of 81.43 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 13.0% above its aggregate fair value. Hotai Finance Corp currently trades 31% 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 Hotai Finance Corp (6592)?
The closing price on Nov 6, 2026 was 55.80 TWD. Our model-based fair value is 81.43 TWD, about +46% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Hotai Finance Corp right now?
Solid quality (53/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (49.43 TWD to 116.51 TWD) leaves room in how you read the outcome. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Where does the earnings growth of Hotai Finance Corp (6592) come from?
Earnings per share at Hotai Finance Corp grew +6.5 % a year from 2014 to 2025. Broken into its drivers: revenue per share +4.0 %, EBIT margin +16.3 %, tax rate −0.6 %, residual (interest, one-offs) −11.4 %. 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 Hotai Finance Corp
How large is the market capitalisation of Hotai Finance Corp (6592)?
The market capitalisation of Hotai Finance Corp is 35.8B TWD (≈ $1.1B). 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 Hotai Finance Corp (6592)?
The price-to-sales ratio of Hotai Finance Corp is 1.88 (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 Hotai Finance Corp (6592)?
Earnings per share at Hotai Finance Corp are 4.93 TWD (price ÷ EPS = P/E 11.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Hotai Finance Corp (6592)?
The dividend yield of Hotai Finance Corp is 5.2% (payout 59.1%). 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 Hotai Finance Corp (6592)?
The net margin of Hotai Finance Corp is 18.9% (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 Hotai Finance Corp (6592)?
The return on equity (ROE) of Hotai Finance Corp is 8.7% (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 Hotai Finance Corp (6592)?
On an EBIT basis the return on assets of Hotai Finance Corp is 2.4% (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 Hotai Finance Corp (6592)?
The operating margin of Hotai Finance Corp is 24.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Hotai Finance Corp (6592)?
Revenue at Hotai Finance Corp is growing +1.5% versus a year earlier (3y avg +1.3%). 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 Hotai Finance Corp (6592)?
Earnings per share at Hotai Finance Corp are growing +5.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Hotai Finance Corp (6592) generate?
The free cash flow of Hotai Finance Corp is 5.4B TWD (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Hotai Finance Corp (6592) carry?
The net debt of Hotai Finance Corp is 275B TWD (fiscal year 2025, ≈ 50.8 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Broad data
Nov 6, 2026