Taiwan Biomaterial Co (6649) Fair Value & Analysis
Healthcare · TW · Market cap 1.6B TWD
Fair value as of: Jul 21, 2026
From 26 valuation models · updated 20 days ago
Share price −6.4% over the past month.
A strong business, but screening 23% overvalued on our models.
What matters now
- A high-quality business (quality 79/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety.
- The price sits above even our optimistic bull case (35.08 TWD). The favourable scenario is already priced in.
Price vs Fair Value (5 years)
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 21.41 TWD – 76.30 TWD · fair‑value band 21.05 TWD – 35.08 TWD · the 36.35 TWD price screens above the 28.06 TWD fair value. Dashed = 300-day average. As of Jul 21, 2026.
Analysis
Taiwan Biomaterial Co (6649) currently trades at 36.35 TWD, while our model-based Fair Value estimate is 28.06 TWD, implying the stock looks roughly 22.8% overvalued today. The Quality Score stands at 79/100 (high quality), in the Healthcare 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, Taiwan Biomaterial Co generated revenue of 179M TWD at a net margin of 14.5%. Revenue declined 61.0% year over year. It earns a return on equity of 4.0%. The stock trades on a trailing P/E of 27.7. Fundamentals as of Jul 21, 2026
Our scenario range runs from 21.05 TWD (bear case) to 35.08 TWD (bull case); at 36.35 TWD, the current price sits above 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 54% below its 52-week high and 4% above its 52-week low, currently below its 200-day average. For context, the median of 10 Healthcare peers we cover trades at -22% fair-value upside, at -23%, 6649 screens richer 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.
All 26 models by family
Widest divergence: Growth Earnings (63.28 TWD) versus Dividend Discount (2.56 TWD). Highest evidence: Residual Income (76).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 21, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 79 · Market factors (momentum, volatility) 37
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
Taiwan Biomaterial Co., Ltd. engages in the development and sale of implantable medical devices in Taiwan. It provides Foamagen, a foamagen dura substitute; stroke thrombus negative pressure removal catheter system comprising suction and removal of cerebrovascular embolism blood clot for the pump system, and nickel-titanium guidewire for guiding cerebral …
Full company description
Taiwan Biomaterial Co., Ltd. engages in the development and sale of implantable medical devices in Taiwan. It provides Foamagen, a foamagen dura substitute; stroke thrombus negative pressure removal catheter system comprising suction and removal of cerebrovascular embolism blood clot for the pump system, and nickel-titanium guidewire for guiding cerebral vascular surgery; tissue repair and regeneration products for the treatment of early osteoarthritis; and CDMO. The company was founded in 1921 and is based in Zhubei, Taiwan.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Taiwan Biomaterial Co reported revenue of 220M TWD in FY2025 versus 41.7M TWD in FY2021, a compound +51.6%/yr. Reported net income was 58.9M TWD in FY2025.
6649 screens 23% overvalued. Compare with Abbott Laboratories, →
Peer Group
Medical Devices · 352 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.
Valuation Multiples vs Medical Devices median · lower = cheaper
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.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Medical Devices stocks, each showing price versus our Fair Value estimate (as of Jul 21, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Abbott Laboratories, ABT | $100.68 | $74.79 | -26% |
| Stryker Corporation SYK | $316.44 | $186.28 | -41% |
| Medtronic plc MDT | $83.56 | $65.57 | -22% |
| Boston Scientific Corporation BSX | $43.04 | $38.44 | -11% |
| Edwards Lifesciences Corporation EW | $85.73 | $41.02 | -52% |
| Siemens Healthineers AG SHL | €34.59 | €33.87 | -2% |
| Shenzhen Mindray Bio-Medical Electronics Co 300760 | ¥149.43 | ¥147.63 | -1% |
| Shanghai United Imaging Healthcare Co 688271 | ¥109.00 | ¥43.60 | -60% |
| Demant A/S DEMANT | kr 276.60 | kr 161.17 | -42% |
| Getinge AB GETIB | kr 206.80 | kr 192.14 | -7% |
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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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