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Sports Gear Co (6768) Fair Value & Analysis

Consumer Cyclical · TW · Market cap 14.1B TWD

SG Sports Gear Co 6768 · TW
Price66.80 TWD
Fair Value125.28 TWD
Upside+87.5%
Quality57/100
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Expensive Growth
Thin margins · 5.4% net margin
Low debt · generates free cash flow
7.39% dividend yield
Ranks above peers (10/14)
Narrow moat 39/100
Evidence: High Range 74.11 TWD – 185.83 TWD Share as image

Fair value as of: Jul 23, 2026

From 26 valuation models · updated 17 days ago

Share price −5.9% over the past month.

A solid business, screening 88% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (74.11 TWD). The market is more pessimistic than our downside scenario.
  • Solid quality (57/100) at a price below fair value, the discount is the argument here, not the business quality.
  • A fairly wide model range (74.11 TWD to 185.83 TWD) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

146.96 TWD 45.56 TWD Fair Value 125.28 TWD Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 23, 2026.

How to read this chart

60‑month range 45.56 TWD – 146.96 TWD · fair‑value band 74.11 TWD – 185.83 TWD · the 66.80 TWD price screens below the 125.28 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 23, 2026.

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Analysis

Sports Gear Co (6768) currently trades at 66.80 TWD, while our model-based Fair Value estimate is 125.28 TWD, implying the stock looks roughly 87.5% undervalued today. The Quality Score stands at 57/100 (solid quality), in the Consumer Cyclical sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Sports Gear Co generated revenue of 19.7B TWD at a net margin of 5.4%. Revenue declined 10.8% year over year. It earns a return on equity of 6.6%. The balance sheet holds a net cash position of 2.3B TWD. Fundamentals as of Jul 23, 2026

Our scenario range runs from 74.11 TWD (bear case) to 185.83 TWD (bull case); at 66.80 TWD, the current price sits below 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, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at 0% fair-value upside, at 88%, 6768 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 BearBaseBull Evidence
Highest evidence
Growth DCF 32.19 TWD 40.47 TWD 53.64 TWD 80
Residual Income 64.89 TWD 70.80 TWD 89.23 TWD 76
Rev-Margin DCF 73.01 TWD 118.38 TWD 172.25 TWD 74
All 26 models by family
DCF Models
FCF DCF 32.07 TWD 40.52 TWD 53.99 TWD 38
Owner Earnings 34.65 TWD 44.74 TWD 60.83 TWD 31
5Y Revenue Exit 73.01 TWD 120.01 TWD 182.70 TWD 39
5Y EBITDA Exit 87.07 TWD 147.18 TWD 220.21 TWD 41
5Y P/E Exit 89.62 TWD 152.11 TWD 220.49 TWD 38
10Y Revenue Exit 55.91 TWD 95.59 TWD 153.70 TWD 36
10Y EBITDA Exit 67.47 TWD 114.79 TWD 183.21 TWD 37
10Y P/E Exit 69.11 TWD 118.27 TWD 183.43 TWD 35
Earnings-Based
Graham-Dodd 45.95 TWD 165.97 TWD 223.78 TWD 54
Lynch FV 39.31 TWD 56.15 TWD 73.00 TWD 50
PEG = 1.0 39.31 TWD 56.15 TWD 73.00 TWD 46
EPV 76.69 TWD 86.34 TWD 94.78 TWD 59
Dividend Discount
Gordon GGM 56.70 TWD 117.90 TWD 187.03 TWD 70
DDM Multi-Stage 56.70 TWD 99.41 TWD 123.73 TWD 61
Multiples
P/E Multiple 111.50 TWD 148.66 TWD 185.83 TWD 63
P/S Multiple 86.16 TWD 114.88 TWD 143.59 TWD 58
P/B Multiple 86.16 TWD 114.88 TWD 143.59 TWD 55
EV/EBIT 134.50 TWD 173.08 TWD 211.65 TWD 53
EV/EBITDA 125.99 TWD 161.73 TWD 197.46 TWD 54
EV/Revenue 96.78 TWD 130.21 TWD 163.65 TWD 43
Asset-Based
NCAV (Graham) 37.56 TWD 50.33 TWD 75.11 TWD 50
Growth DCF
Growth DCF 32.19 TWD 40.47 TWD 53.64 TWD 80
Rev-Margin DCF 73.01 TWD 118.38 TWD 172.25 TWD 74
Economic Profit
Residual Income 64.89 TWD 70.80 TWD 89.23 TWD 76
ROIC Compounder 77.28 TWD 94.77 TWD 119.02 TWD 72
Growth Earnings
Growth-Adj P/E 76.84 TWD 109.78 TWD 142.71 TWD 68

Widest divergence: Multiples (130.21 TWD) versus Growth DCF (40.47 TWD). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 19.7B TWD
Revenue growth (YoY) -10.8%
Net margin 5.4%
Return on equity 6.6%
Free cash flow 225M TWD FY2025
P/E ratio 13.8
More key figures
Operating margin 6.1%
EPS (TTM) 6.63 TWD
Dividend yield 5.4%
EPS growth (YoY) -55.1%
Net cash 2.3B TWD FY2025

Figures from reported company fundamentals · as of Jul 23, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 57/100

Of which business quality 58 · Market factors (momentum, volatility) 29

Profitability 45
Margins and returns on capital today
Quality Growth 49
Are margins and returns improving?
Cashflow 32
Earnings quality: real cash, not paper profit
Fin. Strength 95
Balance sheet, leverage, solvency risk
Investment 79
Disciplined investing over empire-building
Low Volatility 76
Calm price path (market factor)
Momentum 15
Price trend over the last 3–12 months (market factor)
52W Momentum 0
Distance to the 52-week high (market factor)
Net Issuance 53
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

Sports Gear Co., Ltd. engages in the production and sale of football boots, running shoes, and outdoor footwear in the Americas, Europe, China, Taiwan, rest of Asia, and internationally. The company was founded in 1992 and is based in Taichung, Taiwan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Sports Gear Co reported revenue of 20.4B TWD in FY2025 versus 12.3B TWD in FY2021, a compound +13.4%/yr. Reported net income was 1.4B TWD in FY2025, compounding +20.2%/yr from FY2021.

Growth Quality 57/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
20.4B TWD
Latest YoY
+10.5%
Avg. growth/yr (3Y)
+3.2%
Avg. growth/yr (5Y)
+8.6%
Avg. growth/yr (8Y)
+3.1%
Revenue +13.4%/yr
FY21 12.3B TWD
FY22 18.5B TWD
FY23 14.2B TWD
FY24 18.4B TWD
FY25 20.4B TWD
Net income +20.2%/yr
FY21 647M TWD
FY22 1.8B TWD
FY23 545M TWD
FY24 1.6B TWD
FY25 1.4B TWD

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Cite: Fair Value Calculator (2026). "Sports Gear Co Fair Value". https://www.fairvalue-calculator.com/stock/6768

Peer Group

Footwear & Accessories · 94 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 57 · Below median
Fair Value upside +88% · Top 25%
Return on equity (TTM) 7% · Above median
Return on assets 4% · Above median
Net margin (TTM) 5% · Above median
Operating margin (TTM) 6% · Above median
Revenue growth -11% · Below median
Dividend yield (TTM) 7.4% · Top 25%
Debt / equity 0.11× · Higher than median

Valuation Multiples vs Footwear & Accessories median · lower = cheaper

P/E (TTM) 10.6× · Cheaper than 75% of peers
P/B 0.94× · Cheaper than median
P/S (TTM) 0.72× · Pricier than median
P/FCF 2.0× · Cheaper than median
EV/EBITDA 5.2× · 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 100 · sector 4
FUTURE 0 · sector 0
PAST 27 · sector 23
HEALTH 95 · sector 97
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 Footwear & Accessories stocks, each showing price versus our Fair Value estimate (as of Jul 23, 2026).

Stock Price Fair Value vs Fair Value
NIKE, Inc NKE $44.37 $35.63 -20%
adidas AG 1ADS €165.00 €65.71 -60%
Deckers Outdoor Corporation DECK $106.49 $125.16 +18%
On Holding ONON $38.20 $17.64 -54%
Zhejiang China Commodities City Group 600415 ¥12.11 ¥13.03 +8%
Birkenstock Holding BIRK $44.36 $44.14 -0%
Crocs, Inc CROX $138.91 $203.65 +47%
Huali Industrial Group 300979 ¥31.10 ¥54.71 +76%
PUMA SE PUM €29.31 €10.57 -64%
Steven Madden, Ltd SHOO $43.26 $11.69 -73%

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Frequently asked questions

Is Sports Gear Co (6768) overvalued or undervalued?
As of Jul 23, 2026, our model estimates a fair value of 125.28 TWD versus a price of 66.80 TWD, about +88% (undervalued).
What is the fair value of 6768?
Our model-based fair value for Sports Gear Co is 125.28 TWD (as of Jul 23, 2026), built from audited fundamentals. The current price is 66.80 TWD.
What is the quality score of 6768?
Sports Gear Co has a Quality Score of 57/100. 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 Sports Gear Co (6768)?
Sports Gear Co reported trailing-twelve-month revenue of about 19.7B TWD (latest available figure, as of Jul 23, 2026).
What is the net profit margin of 6768?
The net profit margin of Sports Gear Co is about 5.4%, meaning it keeps roughly 5.4% of revenue as net income. Based on the latest reported figures.
Does Sports Gear Co pay a dividend?
Sports Gear Co currently shows a dividend yield of about 5.41% relative to its recent price (as of Jul 23, 2026).

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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