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Qing Song Health Co (6931) Fair Value & Analysis

Healthcare · TW · Market cap 2.6B TWD

QS Qing Song Health Co 6931 · TW
Price38.60 TWD
Fair Value20.03 TWD
Upside-48.1%
Quality30/100
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Expensive Growth
Solidly profitable · 10.9% net margin
Low debt · negative free cash flow
0.31% dividend yield
Trails peers (4/13)
Narrow moat 40/100
Evidence: High Range 12.10 TWD – 25.04 TWD Share as image

Fair value as of: Jul 21, 2026

From 17 valuation models · updated 20 days ago

Share price −2.9% over the past month.

Below-average quality, and screening another 48% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (25.04 TWD). The favourable scenario is already priced in.
  • Weak quality (30/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • A fairly wide model range (12.10 TWD to 25.04 TWD) leaves room in how you read the outcome.
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Price vs Fair Value (4 years)

108.17 TWD 32.13 TWD Fair Value 20.03 TWD Dec 2022 Aug 2026

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

43‑month range 32.13 TWD – 108.17 TWD · fair‑value band 12.10 TWD – 25.04 TWD · the 38.60 TWD price screens above the 20.03 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 21, 2026.

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Analysis

Qing Song Health Co (6931) currently trades at 38.60 TWD, while our model-based Fair Value estimate is 20.03 TWD, implying the stock looks roughly 48.1% overvalued today. The Quality Score stands at 30/100 (below-average 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, Qing Song Health Co generated revenue of 1.2B TWD at a net margin of 10.9%. Revenue grew 18.1% year over year. It earns a return on equity of 11.4%. The stock trades on a trailing P/E of 29.6. Fundamentals as of Jul 21, 2026

Our scenario range runs from 12.10 TWD (bear case) to 25.04 TWD (bull case); at 38.60 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 45% below its 52-week high, currently below its 200-day average. For context, the median of 10 Healthcare peers we cover trades at 11% fair-value upside, at -48%, 6931 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.

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 14.23 TWD 15.19 TWD 16.79 TWD 76
ROIC Compounder 10.25 TWD 11.25 TWD 12.11 TWD 72
Gordon GGM 5.27 TWD 10.50 TWD 15.90 TWD 70
All 17 models by family
DCF Models
Owner Earnings 38.37 TWD 80.26 TWD 164.96 TWD 31
Earnings-Based
Graham-Dodd 9.43 TWD 65.74 TWD 92.26 TWD 54
Lynch FV 20.12 TWD 28.74 TWD 37.36 TWD 50
PEG = 1.0 20.12 TWD 28.74 TWD 37.36 TWD 46
EPV 10.25 TWD 11.25 TWD 12.11 TWD 59
Dividend Discount
Gordon GGM 5.27 TWD 10.50 TWD 15.90 TWD 70
DDM Multi-Stage 5.27 TWD 9.07 TWD 11.08 TWD 61
Multiples
P/E Multiple 20.79 TWD 27.73 TWD 34.66 TWD 63
P/S Multiple 17.67 TWD 23.57 TWD 29.46 TWD 58
P/B Multiple 17.67 TWD 23.57 TWD 29.46 TWD 55
EV/EBIT 15.81 TWD 19.77 TWD 23.73 TWD 53
EV/EBITDA 33.47 TWD 43.32 TWD 53.17 TWD 54
EV/Revenue 11.94 TWD 15.37 TWD 18.80 TWD 43
Asset-Based
NCAV (Graham) 8.65 TWD 11.59 TWD 17.29 TWD 50
Economic Profit
Residual Income 14.23 TWD 15.19 TWD 16.79 TWD 76
ROIC Compounder 10.25 TWD 11.25 TWD 12.11 TWD 72
Growth Earnings
Growth-Adj P/E 26.67 TWD 38.10 TWD 49.53 TWD 68

Widest divergence: DCF Models (80.26 TWD) versus Dividend Discount (9.07 TWD). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 1.2B TWD
Revenue growth (YoY) +18.1%
Net margin 10.9%
Return on equity 11.4%
Free cash flow −152M TWD FY2025
P/E ratio 28.2
More key figures
Operating margin 8.0%
EPS (TTM) 1.39 TWD
Dividend yield 0.3%
EPS growth (YoY) +158%

Figures from reported company fundamentals · as of Jul 21, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 30/100

Of which business quality 30 · Market factors (momentum, volatility) 33

Profitability 30
Margins and returns on capital today
Quality Growth 50
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 54
Balance sheet, leverage, solvency risk
Investment 26
Disciplined investing over empire-building
Low Volatility 83
Calm price path (market factor)
Momentum 16
Price trend over the last 3–12 months (market factor)
52W Momentum 4
Distance to the 52-week high (market factor)
Net Issuance 25
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

Qing Song Health Co.,Ltd. provides long-term care services in Taiwan. It offers community-based and residential long-term care services, providing home, and community to residential and other diversified care. The company was founded in 1996 and is based in Taichung, Taiwan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Qing Song Health Co reported revenue of 1.1B TWD in FY2025 versus 358M TWD in FY2021, a compound +33.1%/yr. Reported net income was 91.7M TWD in FY2025.

Growth Quality 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
1.1B TWD
Latest YoY
+14.2%
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.
+20.8%
Revenue +33.1%/yr
FY21 358M TWD
FY22 637M TWD
FY23 869M TWD
FY24 983M TWD
FY25 1.1B TWD
Net income
FY21 −2.0M TWD
FY22 23.3M TWD
FY23 59.4M TWD
FY24 40.6M TWD
FY25 91.7M TWD

6931 screens 48% overvalued. Compare with HCA Healthcare, Inc →

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Cite: Fair Value Calculator (2026). "Qing Song Health Co Fair Value". https://www.fairvalue-calculator.com/stock/6931

Peer Group

Medical Care Facilities · 261 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 30 · Bottom 25%
Fair Value upside −48% · Bottom 25%
Return on equity (TTM) 11% · Above median
Return on assets 2% · Below median
Net margin (TTM) 11% · Above median
Operating margin (TTM) 8% · Below median
Revenue growth 18% · Top 25%
Dividend yield (TTM) 0.3% · Bottom 25%
Debt / equity 0.12× · Lower than median

Valuation Multiples vs Medical Care Facilities median · lower = cheaper

P/E (TTM) 28.2× · Pricier than median
P/B 2.27× · Pricier than median
P/S (TTM) 2.22× · Pricier than 75% of peers
EV/EBITDA 15.9× · Pricier than 75% of peers

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 0 · sector 23
FUTURE 91 · sector 24
PAST 45 · sector 30
HEALTH 94 · sector 90
DIVIDEND 6 · sector 38

VALUE 0: the price sits above our fair-value range.

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 Medical Care Facilities stocks, each showing price versus our Fair Value estimate (as of Jul 21, 2026).

Stock Price Fair Value vs Fair Value
HCA Healthcare, Inc HCA $378.85 $554.93 +46%
Fresenius SE FRE €41.73 €32.15 -23%
Dr. Sulaiman Al Habib Medical Services Group 4013 235.00 SAR 112.37 SAR -52%
IHH Healthcare Berhad, an investment holding company, Q0F 2.58 SGD 1.44 SGD -44%
Tenet Healthcare Corporation THC $194.91 $338.05 +73%
Rede D'Or São Luiz S.A RDOR3 R$36.01 R$47.31 +31%
DaVita Inc DVA $231.61 $255.97 +11%
Apollo Hospitals Enterprise Limited APOLLOHOSP ₹8,955 ₹2,955 -67%
Fresenius Medical Care AG FMS $24.68 $45.60 +85%
Aier Eye Hospital Group 300015 ¥8.68 ¥7.67 -12%

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Frequently asked questions

Is Qing Song Health Co (6931) overvalued or undervalued?
As of Jul 21, 2026, our model estimates a fair value of 20.03 TWD versus a price of 38.60 TWD, about −48% (overvalued).
What is the fair value of 6931?
Our model-based fair value for Qing Song Health Co is 20.03 TWD (as of Jul 21, 2026), built from audited fundamentals. The current price is 38.60 TWD.
What is the quality score of 6931?
Qing Song Health Co has a Quality Score of 30/100. 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 Qing Song Health Co (6931)?
Qing Song Health Co reported trailing-twelve-month revenue of about 1.2B TWD (latest available figure, as of Jul 21, 2026).
What is the net profit margin of 6931?
The net profit margin of Qing Song Health Co is about 10.9%, meaning it keeps roughly 10.9% 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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