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Study King Co (6780) Fair Value & Analysis

Technology · TW · Market cap 662M TWD

SK Study King Co 6780 · TWO
Price40.50 TWD
Fair Value31.64 TWD
Upside-21.9%
Quality77/100
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Weak Growth
Thin margins · 6.5% net margin
generates free cash flow
3.25% dividend yield
Ranks above peers (9/13)
Moderate moat 48/100
Evidence: High Range 24.20 TWD – 38.76 TWD Share as image

Fair value as of: Jul 23, 2026

From 24 valuation models · updated 18 days ago

Fair value updated Jul 23, 2026, revised from 32.06 TWD to 31.64 TWD (−1.3%) since Jul 12, 2026. Share price +1.3% over the past month.

A strong business, but screening 22% overvalued on our models.

What matters now

  • A high-quality business (quality 77/100), 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 (38.76 TWD). The favourable scenario is already priced in.
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Price vs Fair Value (5 years)

42.50 TWD 11.44 TWD Fair Value 31.64 TWD Feb 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 11.44 TWD – 42.50 TWD · fair‑value band 24.20 TWD – 38.76 TWD · the 40.50 TWD price screens above the 31.64 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

Study King Co (6780) currently trades at 40.50 TWD, while our model-based Fair Value estimate is 31.64 TWD, implying the stock looks roughly 21.9% overvalued today. The Quality Score stands at 77/100 (high quality), in the Technology 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, Study King Co generated revenue of 370M TWD at a net margin of 6.2%. Revenue grew 0.3% year over year. It earns a return on equity of 10.8%. The balance sheet holds a net cash position of 39.7M TWD. Fundamentals as of Jul 23, 2026

Our scenario range runs from 24.20 TWD (bear case) to 38.76 TWD (bull case); at 40.50 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 5% below its 52-week high and 130% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at -27% fair-value upside, at -22%, 6780 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
Residual Income 11.94 TWD 12.98 TWD 15.32 TWD 76
Growth DCF 20.37 TWD 24.85 TWD 31.78 TWD 72
Gordon GGM 6.22 TWD 6.70 TWD 7.42 TWD 70
All 24 models by family
DCF Models
FCF DCF 19.87 TWD 24.59 TWD 32.51 TWD 38
Owner Earnings 23.26 TWD 29.00 TWD 38.65 TWD 31
5Y Revenue Exit 18.93 TWD 25.07 TWD 33.98 TWD 39
5Y EBITDA Exit 27.85 TWD 40.48 TWD 57.21 TWD 41
5Y P/E Exit 25.65 TWD 36.69 TWD 49.86 TWD 38
10Y Revenue Exit 18.92 TWD 23.21 TWD 27.75 TWD 36
10Y EBITDA Exit 24.20 TWD 31.91 TWD 40.19 TWD 37
10Y P/E Exit 22.98 TWD 29.77 TWD 36.25 TWD 35
Earnings-Based
Graham-Dodd 9.77 TWD 11.94 TWD 13.43 TWD 54
EPV 16.28 TWD 17.91 TWD 19.27 TWD 59
Dividend Discount
Gordon GGM 6.22 TWD 6.70 TWD 7.42 TWD 70
DDM Multi-Stage 6.22 TWD 7.40 TWD 8.93 TWD 61
Multiples
P/E Multiple 30.16 TWD 40.22 TWD 50.27 TWD 63
P/S Multiple 18.31 TWD 24.42 TWD 30.52 TWD 58
P/B Multiple 18.31 TWD 24.42 TWD 30.52 TWD 55
EV/EBIT 34.22 TWD 44.18 TWD 54.14 TWD 53
EV/EBITDA 39.05 TWD 50.62 TWD 62.19 TWD 54
EV/Revenue 19.44 TWD 25.91 TWD 32.39 TWD 43
Asset-Based
NCAV (Graham) 7.18 TWD 9.62 TWD 14.36 TWD 50
Growth DCF
Growth DCF 20.37 TWD 24.85 TWD 31.78 TWD 72
Rev-Margin DCF 18.93 TWD 25.48 TWD 33.56 TWD 67
Economic Profit
Residual Income 11.94 TWD 12.98 TWD 15.32 TWD 76
ROIC Compounder 16.28 TWD 18.22 TWD 20.15 TWD 67
Growth Earnings
Growth-Adj P/E 21.10 TWD 30.14 TWD 39.18 TWD 68

Widest divergence: Growth Earnings (30.14 TWD) versus Dividend Discount (6.70 TWD). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 362M TWD
Revenue growth (YoY) -4.0%
Net margin 6.5%
Return on equity 10.2%
Free cash flow 31.1M TWD FY2025
P/E ratio 28.5
More key figures
Operating margin 9.1%
EPS (TTM) 1.43 TWD
Dividend yield 3.3%
EPS growth (YoY) +3.7%
Net cash 39.7M TWD FY2024

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

Quality Score breakdown

Overall quality 77/100

Of which business quality 76 · Market factors (momentum, volatility) 84

Profitability 64
Margins and returns on capital today
Quality Growth 58
Are margins and returns improving?
Cashflow 60
Earnings quality: real cash, not paper profit
Fin. Strength 95
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 76
Calm price path (market factor)
Momentum 84
Price trend over the last 3–12 months (market factor)
52W Momentum 95
Distance to the 52-week high (market factor)
Net Issuance 86
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

Study King Co., Ltd. provides digital learning content. It offers audio-visual interactive learning network and teacher junior high school audio-visual interactive textbooks, as well as high school series products. Study King Co., Ltd. was founded in 2012 and is based in New Taipei City, Taiwan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Study King Co reported revenue of 362M TWD in FY2025 versus 404M TWD in FY2021, a compound −2.7%/yr. Reported net income was 23.3M TWD in FY2025, compounding +4.9%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
362M TWD
Latest YoY
−2.0%
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.
−3.1%
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.
−4.3%
Avg. growth/yr (6Y) 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.
−4.4%
Revenue −2.7%/yr
FY21 404M TWD
FY22 399M TWD
FY23 342M TWD
FY24 370M TWD
FY25 362M TWD
Net income +4.9%/yr
FY21 19.3M TWD
FY22 21.3M TWD
FY23 90.0K TWD
FY24 15.2M TWD
FY25 23.3M TWD

6780 screens 22% overvalued. Compare with SAP SE →

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Cite: Fair Value Calculator (2026). "Study King Co Fair Value". https://www.fairvalue-calculator.com/stock/6780

Peer Group

Software - Application · 709 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 77 · Top 25%
Fair Value upside −22% · Above median
Return on equity (TTM) 10% · Above median
Return on assets 5% · Above median
Net margin (TTM) 6% · Above median
Operating margin (TTM) 9% · Above median
Revenue growth -4% · Below median
Dividend yield (TTM) 3.3% · Top 25%

Valuation Multiples vs Software - Application median · lower = cheaper

P/E (TTM) 28.5× · Pricier than median
P/B 2.84× · Pricier than median
P/S (TTM) 1.83× · Cheaper than median
P/FCF 0.7× · Cheaper than 75% of peers
EV/EBITDA 19.8× · Pricier 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 4 · sector 0
FUTURE 0 · sector 38
PAST 41 · sector 13
HEALTH 0 · sector 98
DIVIDEND 65 · sector 28

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 Software - Application stocks, each showing price versus our Fair Value estimate (as of Jul 23, 2026).

Stock Price Fair Value vs Fair Value
SAP SE SAPS C$12.69 C$16.26 +28%
Shopify Inc SHOP C$173.23 C$20.54 -88%
Uber Technologies, Inc UBER $72.67 $51.11 -30%
Salesforce, Inc CRM $170.77 $182.10 +7%
ServiceNow, Inc NOW $107.71 $33.12 -69%
Cadence Design Systems, Inc CDNS $384.17 $80.41 -79%
Snowflake Inc SNOW $271.87 $34.04 -87%
Adobe Inc ADBE $230.61 $379.48 +65%
Automatic Data Processing, Inc ADP $241.92 $177.51 -27%
Intuit Inc INTU $291.09 $258.69 -11%

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Frequently asked questions

Is Study King Co (6780) overvalued or undervalued?
As of Jul 23, 2026, our model estimates a fair value of 31.64 TWD versus a price of 40.50 TWD, about −22% (overvalued).
What is the fair value of 6780?
Our model-based fair value for Study King Co is 31.64 TWD (as of Jul 23, 2026), built from audited fundamentals. The current price is 40.50 TWD.
What is the quality score of 6780?
Study King Co has a Quality Score of 77/100. 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 Study King Co (6780)?
Study King Co reported trailing-twelve-month revenue of about 370M TWD (latest available figure, as of Jul 23, 2026).
What is the net profit margin of 6780?
The net profit margin of Study King Co is about 6.2%, meaning it keeps roughly 6.2% 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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