Norbel Baby Co., Ltd (6844) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Norbel Baby Co., Ltd TWD 50.57, price TWD 57.30, upside -11.8%, quality 51 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Norbel Baby Co., Ltd engages in the sale of medicine, medical care, health care, maternity and baby care, and beauty care products in Taiwan. The company operates chain retail stores of cosmetics and pharmacy under the brand "Tin Tin Drugstore". It also provides consulting services. The company was founded in 1986 and is headquartered in Kaohsiung, Taiwan.
Stock analysis
Norbel Baby Co., Ltd (6844) currently trades at 57.30 TWD, while our model-based Fair Value estimate is 50.57 TWD, implying the stock looks roughly 13.3% overvalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 75.07 TWD per share, and 11 of the 24 models we run sit above the 57.30 TWD price.
Bear case: the Earnings-Based group reads lowest at 19.51 TWD, and 13 of the 24 models stay below the price. Evidence for this calculation is high.
Scenario range: 38.73 TWD (bear) to 59.69 TWD (bull), the price of 57.30 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 51/100 (solid quality), in the Consumer Cyclical sector.
Weak Growth: Revenue growth is weak: less than 2 % a year.
Norbel Baby Co., Ltd reported revenue of 3.4B TWD in FY2025 versus 3.8B TWD in FY2021, a compound −2.5%/yr. Reported net income was 87.8M TWD in FY2025, compounding −24.1%/yr from FY2021.
Key figures
Market cap 2.1B TWD (≈ $67.5M) · P/E ratio 17.4 · P/S ratio 0.44 · EPS (TTM) 3.29 TWD · Dividend yield 7.0% · Net margin 2.5% · Return on equity 3.9% · Return on assets (EBIT) 5.9%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (low confidence).
What moves the price
The share trades about 34% below its 52-week high and 2% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at 4% fair-value upside, at −12%, 6844 screens richer than that median.
Fair Value models
Bear 38.73 TWDFair Value 50.57 TWDBull 59.69 TWD
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single 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 ⓘEvidence = 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.40/100
Revenue growth is weak: less than 2 % a year.
Revenue growth 1 year
+1.4%
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.
−6.4%
’21
’22
’23
’24
’25
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.
−16.2%
Earnings growth per share plus dividend.
Earnings per share, growth per year−23.2%
Dividend (yield on the price)7.0%
Profit margin 2021 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.9% → 2%
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
−7.4%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Taiwan: IMF forecast 1.6% a year to 2030, 1.5% from 2016 to 2025) that is about −8.9% a year for the price.
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.Specialty Retail · 229 stocks
Beats the industry median on 4/13 measures
Overall it trails its industry peers.
Valuation
Quality Score51 · Below median
Fair Value upside−12% · Below median
Profitability
Return on equity (TTM)4% · Below median
Return on assets1% · Below median
Net margin (TTM)4% · Above median
Operating margin (TTM)2% · Below median
Growth and dividend
Revenue growth−1% · Below median
Dividend yield (TTM)7.0% · Top 25%
Valuation Multiplesvs Specialty Retail median · lower = cheaper
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Is Norbel Baby Co., Ltd (6844) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 50.57 TWD versus a price of 57.30 TWD, about −12% upside (overvalued).
What is the fair value of 6844?
Our model-based fair value for Norbel Baby Co., Ltd is 50.57 TWD (as of Sep 24, 2026), built from audited fundamentals. The current price: 57.30 TWD.
What is the quality score of 6844?
Norbel Baby Co., Ltd has a Quality Score of 51/100. 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 Norbel Baby Co., Ltd (6844)?
Our model-based price target is the fair value of 50.57 TWD (as of Sep 24, 2026) from 24 valuation models. Cautious scenario 38.73 TWD, optimistic scenario 59.69 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Norbel Baby Co., Ltd stock forecast for 2026?
Our models put fair value at 50.57 TWD, about −12% upside versus a price of 57.30 TWD (overvalued). Cautious scenario 38.73 TWD, optimistic scenario 59.69 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Norbel Baby Co., Ltd (6844)?
Norbel Baby Co., Ltd reported trailing-twelve-month revenue of about 3.4B TWD (latest available figure, as of Sep 24, 2026).
Does Norbel Baby Co., Ltd pay a dividend?
Norbel Baby Co., Ltd currently shows a dividend yield of about 6.98% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Norbel Baby Co., Ltd (6844)?
For today's price to be fair in a discounted-cash-flow model, Norbel Baby Co., Ltd would have to grow free cash flow by -7.4 % per year for five years (discount rate 13.3 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 4 years revenue grew -2.5 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 6844 use?
Our models discount Norbel Baby Co., Ltd at 13.3 %: a base by market capitalisation (micro), country premium for Taiwan. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Norbel Baby Co., Ltd that is -7.4 % per year a year over ten years, using the same discount rate (13.3 %) and the same formula as our fair value.
How much growth has Norbel Baby Co., Ltd (6844) delivered so far?
Over the past 4 years revenue at Norbel Baby Co., Ltd grew -2.5 % a year. The price currently implies -7.4 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Norbel Baby Co., Ltd (6844) growing?
The median revenue growth in the sector is +5.9 % a year. That is the yardstick for the growth priced into Norbel Baby Co., Ltd (-7.4 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Norbel Baby Co., Ltd (6844)?
The free-cash-flow yield on the price is 13.42 %: that much free cash flow Norbel Baby Co., Ltd produces per unit of market value. When it exceeds the discount rate of our models (13.3 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Norbel Baby Co., Ltd (6844)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Norbel Baby Co., Ltd it is 50.57 TWD per share (as of Sep 24, 2026), against a price of 57.30 TWD. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Norbel Baby Co., Ltd stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 6844 trades above its calculated fair value: price 57.30 TWD, fair value 50.57 TWD, a gap of about −12% (overvalued). 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 6844?
No. The price is what the market pays today (57.30 TWD); the fair value is what the company's own numbers justify (50.57 TWD). For Norbel Baby Co., Ltd the two are 6.73 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Norbel Baby Co., Ltd worth?
The market values Norbel Baby Co., Ltd at about 2.1B TWD (market capitalisation, as of Sep 24, 2026). Per share that is 57.30 TWD; our models calculate a fair value of 50.57 TWD per share.
What do the bullish and bearish scenarios say about 6844?
Our models span a range for Norbel Baby Co., Ltd: cautious scenario 38.73 TWD, base 50.57 TWD, optimistic 59.69 TWD per share (as of Sep 24, 2026, price 57.30 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 6844?
Norbel Baby Co., Ltd trades at a price-to-earnings ratio of 17.4 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 50.57 TWD is built from several models across several years. Other multiples: P/B 0.7, P/S 0.6, EV/EBITDA 15.3.
How solid is the balance sheet of Norbel Baby Co., Ltd (6844)?
Balance-sheet figures for Norbel Baby Co., Ltd (as of Sep 24, 2026): return on equity 3.9%. They feed the Quality Score of 51/100, which measures business quality independently of the share price.
How far is 6844 from its 52-week high?
Norbel Baby Co., Ltd trades at 57.30 TWD, about 34% below its 52-week high of 87.22 TWD and 2% above the low of 56.20 TWD (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 50.57 TWD is for.
Which stocks are comparable to Norbel Baby Co., Ltd?
From the same area (Consumer Cyclical) we also value Alimentation Couche-Tard Inc, Casey's General Stores, Inc, Williams-Sonoma, Inc, Ulta Beauty, Inc, 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 Norbel Baby Co., Ltd stock attractive at the current price?
The data as of Sep 24, 2026: price 57.30 TWD, calculated fair value 50.57 TWD (−12%), Quality Score 51/100, from 24 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 6844 calculated?
We run Norbel Baby Co., Ltd through 24 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of 50.57 TWD, 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 14.0 % above its aggregate fair value. Norbel Baby Co., Ltd itself currently trades above fair value. 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 Norbel Baby Co., Ltd (6844)?
The closing price on Sep 24, 2026 was 57.30 TWD. Our model-based fair value is 50.57 TWD, about −12% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Norbel Baby Co., Ltd right now?
The price sits in the upper half of our model range, so the margin of safety is thin. The data supports the verdict: every model runs on fully documented inputs.
Key figures of Norbel Baby Co., Ltd
How large is the market capitalisation of Norbel Baby Co., Ltd (6844)?
The market capitalisation of Norbel Baby Co., Ltd is 2.1B TWD (≈ $67.5M). 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 Norbel Baby Co., Ltd (6844)?
The price-to-sales ratio of Norbel Baby Co., Ltd is 0.44 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Norbel Baby Co., Ltd (6844)?
Earnings per share at Norbel Baby Co., Ltd are 3.29 TWD (price ÷ EPS = P/E 17.4). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Norbel Baby Co., Ltd (6844)?
The dividend yield of Norbel Baby Co., Ltd is 7.0% (payout 122%). 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 Norbel Baby Co., Ltd (6844)?
The net margin of Norbel Baby Co., Ltd is 2.5% (fiscal year 2025). 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 Norbel Baby Co., Ltd (6844)?
The return on equity (ROE) of Norbel Baby Co., Ltd is 3.9% (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 Norbel Baby Co., Ltd (6844)?
On an EBIT basis the return on assets of Norbel Baby Co., Ltd is 5.9% (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 Norbel Baby Co., Ltd (6844)?
The operating margin of Norbel Baby Co., Ltd is 2.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Norbel Baby Co., Ltd (6844)?
Revenue at Norbel Baby Co., Ltd is growing −0.6% versus a year earlier (3y avg −6.4%). 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 Norbel Baby Co., Ltd (6844)?
Earnings per share at Norbel Baby Co., Ltd are growing +19.1% versus a year earlier. How much earnings per share grew versus a year earlier.
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