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Shine-On BioMedical Co.,Ltd. (6926) fair value: what the stock is really worth

As of Sep 24, 2026: fair value of Shine-On BioMedical Co.,Ltd. TWD 17.90, price TWD 64.00, upside -72.0%, quality 47 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? No
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Healthcare · TW · ISIN TW0006926009

SO Thin data Sep 24, 2026

Shine-On BioMedical Co.,Ltd.

6926 · TWO

Weakest SetupStrongly overvalued and low quality.

!Fair value 17.90 TWD · Strongly overvalued (−72%)
!Quality 47/100
!Weak Growth
!negative free cash flow
✓Ranks above peers (6/7)
!Narrow moat 5/100
!Evidence only low, so the estimate is less certain
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

71.30 TWD 61.50 TWD Fair Value 17.90 TWD Dec 2025 Sep 2026

White line = price, green steps = our fair value per fiscal year. As of Sep 24, 2026.

How to read this chart

10‑month range 61.50 TWD – 71.30 TWD · fair‑value band 11.81 TWD – 22.37 TWD · the 64.00 TWD price screens above the 17.90 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Sep 24, 2026.

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Company profile

Shine-On BioMedical Co.,Ltd. research, develops, and manufactures anti-cancer related drug products.

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Shine-On BioMedical Co.,Ltd. research, develops, and manufactures anti-cancer related drug products. It also develops antibody anticancer drugs, such as exosome anti-cancer drugs, that includes SOB101 and SOB102; SOB201 for engineered multi-target exosomes; SOA101, a dual immune checkpoint T cell adapter antibody; and SOA201, a trispecific adapter immune cell antibody. Shine-On BioMedical Co.,Ltd. was founded in 2011 and is based in Taichung, Taiwan.

Stock analysis

Shine-On BioMedical Co.,Ltd. (6926) currently trades at 64.00 TWD, while our model-based Fair Value estimate is 17.90 TWD, implying the stock looks roughly 257.5% overvalued today.

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Valuation

How firm this estimate is: it rests on 1 models at a data quality of 95/100, which puts the evidence level at low.

Scenario range: 11.81 TWD (bear) to 22.37 TWD (bull), the price of 64.00 TWD sits above 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 47/100 (below-average quality), in the Healthcare sector.

Weak Growth: Revenue growth is weak, negative or inconsistent.

Shine-On BioMedical Co.,Ltd. reported revenue of 30.0M TWD in FY2025 versus 0 TWD in FY2021. Reported net income was −110M TWD in FY2025.

Key figures

Market cap 3.2B TWD (≈ $100M) · EPS (TTM) −2.21 TWD · Return on equity −11.5% · Return on assets (EBIT) −6.8% · Operating margin −246% · Revenue (TTM) 30.0M TWD · Free cash flow −116M TWD · Net cash 42.1M TWD.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 27 out of 100 (low confidence).

What moves the price

For context, the median of 10 Healthcare peers we cover trades at −5% fair-value upside, at −72%, 6926 screens richer than that median.

Fair Value models

Bear 11.81 TWD Fair Value 17.90 TWD Bull 22.37 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.
Highest evidence
NCAV (Graham) 9.11 TWD 12.21 TWD 18.22 TWD 51
All 1 models by family
Asset-Based
NCAV (Graham) 9.11 TWD 12.21 TWD 18.22 TWD 51

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Quality Score breakdown

Overall quality 47/100

Of which business quality 46 · Market factors (momentum, volatility) 52

Profitability 1
Margins and returns on capital today
Quality Growth 56
Are margins and returns improving?
Cashflow 12
Earnings quality: real cash, not paper profit
Fin. Strength 79
Balance sheet, leverage, solvency risk
Investment 97
Disciplined investing over empire-building
Low Volatility 91
Calm price path (market factor)
Momentum 42
Price trend over the last 3–12 months (market factor)
52W Momentum 25
Distance to the 52-week high (market factor)
Net Issuance 66
Share count: buybacks or dilution?

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Revenue & earnings trend

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. 0/100
Revenue growth is weak, negative or inconsistent.
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

6926 screens 258% overvalued. Compare with Vertex Pharmaceuticals Incorporated →

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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.Biotechnology · 649 stocks

Beats the industry median on 5/6 measures
Overall it ranks above its industry peers.
Valuation
Quality Score 46 · Above median
Fair Value upside −72% · Bottom 25%
Profitability
Return on assets −8% · Above median
Growth and dividend
Revenue growth 0% · Above median

Valuation Multiplesvs Biotechnology median · lower = cheaper

P/B 0.11× · Cheapest 25%
P/S (TTM) 3.32× · Cheaper than median

Context: sector, industry, market

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

Similar stocks

10 more Biotechnology stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
Vertex Pharmaceuticals Incorporated VRTX $516.34 $567.97 +10%
Regeneron Pharmaceuticals, Inc REGN $801.82 $1,252 +56%
argenx SE ARGX $963.79 $918.60 −5%
Samsung Biologics Co 207940 1,366,000 KRW 1,502,600 KRW +10%
CSL Limited CSL A$179.12 A$197.03 +10%
Alnylam Pharmaceuticals, Inc ALNY $251.65 $218.36 −13%
Royalty Pharma plc RPRX $58.52 $24.22 −59%
BeOne Medicines AG 6160 HK$218.20 HK$169.72 −22%
Celltrion, Inc 068270 177,400 KRW 74,519 KRW −58%
BioNTech SE BNTX $100.87 $63.62 −37%

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Shine-On BioMedical Co.,Ltd. · Fair Value
17.90 TWD −258%Fair Value
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Cite: Fair Value Calculator (2026). "Shine-On BioMedical Co.,Ltd. Fair Value". https://www.fairvalue-calculator.com/stock/6926

Frequently asked questions

Is Shine-On BioMedical Co.,Ltd. (6926) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 17.90 TWD versus a price of 64.00 TWD, about −72% upside (overvalued).
What is the fair value of 6926?
Our model-based fair value for Shine-On BioMedical Co.,Ltd. is 17.90 TWD (as of Sep 24, 2026), built from audited fundamentals. The current price: 64.00 TWD.
What is the quality score of 6926?
Shine-On BioMedical Co.,Ltd. has a Quality Score of 47/100. 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 Shine-On BioMedical Co.,Ltd. (6926)?
Our model-based price target is the fair value of 17.90 TWD (as of Sep 24, 2026) from 1 valuation models. Cautious scenario 11.81 TWD, optimistic scenario 22.37 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Shine-On BioMedical Co.,Ltd. stock forecast for 2026?
Our models put fair value at 17.90 TWD, about −72% upside versus a price of 64.00 TWD (overvalued). Cautious scenario 11.81 TWD, optimistic scenario 22.37 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Shine-On BioMedical Co.,Ltd. (6926)?
Shine-On BioMedical Co.,Ltd. reported trailing-twelve-month revenue of about 30.0M TWD (latest available figure, as of Sep 24, 2026).
What is the intrinsic value of Shine-On BioMedical Co.,Ltd. (6926)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Shine-On BioMedical Co.,Ltd. it is 17.90 TWD per share (as of Sep 24, 2026), against a price of 64.00 TWD. It is the blended result of 1 valuation models (cash flow, earnings, asset, dividend).
Is Shine-On BioMedical Co.,Ltd. stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 6926 trades above its calculated fair value: price 64.00 TWD, fair value 17.90 TWD, a gap of about −72% (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 6926?
No. The price is what the market pays today (64.00 TWD); the fair value is what the company's own numbers justify (17.90 TWD). For Shine-On BioMedical Co.,Ltd. the two are 46.10 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Shine-On BioMedical Co.,Ltd. worth?
The market values Shine-On BioMedical Co.,Ltd. at about 3.2B TWD (market capitalisation, as of Sep 24, 2026). Per share that is 64.00 TWD; our models calculate a fair value of 17.90 TWD per share.
What do the bullish and bearish scenarios say about 6926?
Our models span a range for Shine-On BioMedical Co.,Ltd.: cautious scenario 11.81 TWD, base 17.90 TWD, optimistic 22.37 TWD per share (as of Sep 24, 2026, price 64.00 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Shine-On BioMedical Co.,Ltd. (6926)?
Balance-sheet figures for Shine-On BioMedical Co.,Ltd. (as of Sep 24, 2026): return on equity −11.5%. They feed the Quality Score of 47/100, which measures business quality independently of the share price.
Which stocks are comparable to Shine-On BioMedical Co.,Ltd.?
From the same area (Healthcare) we also value Vertex Pharmaceuticals Incorporated, Regeneron Pharmaceuticals, Inc, argenx SE, Samsung Biologics Co, 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 Shine-On BioMedical Co.,Ltd. stock attractive at the current price?
The data as of Sep 24, 2026: price 64.00 TWD, calculated fair value 17.90 TWD (−72%), Quality Score 47/100, from 1 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 6926 calculated?
We run Shine-On BioMedical Co.,Ltd. through 1 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 17.90 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 13.0 % above its aggregate fair value. Shine-On BioMedical 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 Shine-On BioMedical Co.,Ltd. (6926)?
The closing price on Sep 24, 2026 was 64.00 TWD. Our model-based fair value is 17.90 TWD, about −72% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Shine-On BioMedical Co.,Ltd. right now?
The price sits above even our optimistic bull case (22.37 TWD). The favourable scenario is already priced in. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid but not exceptional quality (47/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (11.81 TWD to 22.37 TWD) leaves room in how you read the outcome.

Key figures of Shine-On BioMedical Co.,Ltd.

How large is the market capitalisation of Shine-On BioMedical Co.,Ltd. (6926)?
The market capitalisation of Shine-On BioMedical Co.,Ltd. is 3.2B TWD (≈ $100M). 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 are the earnings per share of Shine-On BioMedical Co.,Ltd. (6926)?
Earnings per share at Shine-On BioMedical Co.,Ltd. are −2.21 TWD. Earnings per share over the last twelve months: total profit spread across every single share.
What is the return on equity of Shine-On BioMedical Co.,Ltd. (6926)?
The return on equity (ROE) of Shine-On BioMedical Co.,Ltd. is −11.5% (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 Shine-On BioMedical Co.,Ltd. (6926)?
On an EBIT basis the return on assets of Shine-On BioMedical Co.,Ltd. is −6.8% (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 Shine-On BioMedical Co.,Ltd. (6926)?
The operating margin of Shine-On BioMedical Co.,Ltd. is −246% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How much free cash flow does Shine-On BioMedical Co.,Ltd. (6926) generate?
The free cash flow of Shine-On BioMedical Co.,Ltd. is −116M 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 cash does Shine-On BioMedical Co.,Ltd. (6926) hold?
Shine-On BioMedical Co.,Ltd. holds more cash than debt, 42.1M TWD net (fiscal year 2024). The company holds more cash than debt, a safety cushion.
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