Vetnostrum Animal Health Co., Ltd (6936) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Vetnostrum Animal Health Co., Ltd TWD 35.10, price TWD 31.70, upside +10.7%, quality 68 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
42‑month range 29.83 TWD – 45.72 TWD · fair‑value band 25.99 TWD – 44.22 TWD · the 31.70 TWD price screens below the 35.10 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
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Vetnostrum Animal Health Co., Ltd. engages in the import, manufacture, and sale of animal medicines, health food, feed additives, and feed.
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Vetnostrum Animal Health Co., Ltd. engages in the import, manufacture, and sale of animal medicines, health food, feed additives, and feed. It offers antibiotics, hormonal preparations, topical disinfectants, and drugs for anti-inflammatory, deworming, anti-fungal, antiprotozoal, etc; vitamins, minerals, and amino acids for regular supplementary; and non-medicated feed additives for swine, cattle and sheep, poultry, pet, and aquatic animals. The company was founded in 2012 and is based in Hsinchu City, Taiwan. Vetnostrum Animal Health Co., Ltd. operates as a subsidiary of YungShin Global Holding Corporation.
Stock analysis
Vetnostrum Animal Health Co., Ltd (6936) currently trades at 31.70 TWD, while our model-based Fair Value estimate is 35.10 TWD, implying the stock looks roughly 9.7% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 40.59 TWD per share, and 14 of the 26 models we run sit above the 31.70 TWD price.
Bear case: the Earnings-Based group reads lowest at 11.72 TWD, and 12 of the 26 models stay below the price. Evidence for this calculation is low.
Scenario range: 25.99 TWD (bear) to 44.22 TWD (bull), the price of 31.70 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 68/100 (solid quality), in the Consumer Defensive sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Vetnostrum Animal Health Co., Ltd reported revenue of 1.4B TWD in FY2025 versus 1.2B TWD in FY2021, a compound +4.7%/yr. Reported net income was 129M TWD in FY2025, compounding +4.1%/yr from FY2021.
Key figures
Market cap 2.3B TWD (≈ $72.5M) · P/E ratio 14.0 · P/S ratio 1.27 · EPS (TTM) 2.27 TWD · Dividend yield 4.8% · Net margin 9.1% · Return on equity 12.4% · Return on assets (EBIT) 9.4%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 55 out of 100 (medium confidence).
What moves the price
The share trades about 21% below its 52-week high and 1% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Defensive peers we cover trades at 10% fair-value upside, at 11%, 6936 screens cheaper than that median.
Fair Value models
Bear 25.99 TWDFair Value 35.10 TWDBull 44.22 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. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (0.5559 TWD per share) are deliberately not added.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.81/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+9.4%
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.
+6.1%
’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.
+6.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year+1.3%
Dividend (yield on the price)4.8%
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.12% → 11%
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).
−2.3%
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 −3.9% a year for the price.
Compare Vetnostrum Animal Health Co., Ltd with another stock
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.Farm Products · 296 stocks
Beats the industry median on 9/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score68 · Top 25%
Fair Value upside+11% · Above median
Profitability
Return on equity (TTM)12% · Top 25%
Return on assets7% · Top 25%
Net margin (TTM)11% · Top 25%
Operating margin (TTM)13% · Above median
Growth and dividend
Revenue growth15% · Above median
Dividend yield (TTM)4.8% · Above median
Valuation Multiplesvs Farm Products median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Vetnostrum Animal Health Co., Ltd Fair Value". https://www.fairvalue-calculator.com/stock/6936
Frequently asked questions
Is Vetnostrum Animal Health Co., Ltd (6936) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 35.10 TWD versus a price of 31.70 TWD, about +11% upside (undervalued).
What is the fair value of 6936?
Our model-based fair value for Vetnostrum Animal Health Co., Ltd is 35.10 TWD (as of Sep 24, 2026), built from audited fundamentals. The current price: 31.70 TWD.
What is the quality score of 6936?
Vetnostrum Animal Health Co., Ltd has a Quality Score of 68/100. 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 Vetnostrum Animal Health Co., Ltd (6936)?
Our model-based price target is the fair value of 35.10 TWD (as of Sep 24, 2026) from 26 valuation models. Cautious scenario 25.99 TWD, optimistic scenario 44.22 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Vetnostrum Animal Health Co., Ltd stock forecast for 2026?
Our models put fair value at 35.10 TWD, about +11% upside versus a price of 31.70 TWD (undervalued). Cautious scenario 25.99 TWD, optimistic scenario 44.22 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Vetnostrum Animal Health Co., Ltd (6936)?
Vetnostrum Animal Health Co., Ltd reported trailing-twelve-month revenue of about 1.5B TWD (latest available figure, as of Sep 24, 2026).
Does Vetnostrum Animal Health Co., Ltd pay a dividend?
Vetnostrum Animal Health Co., Ltd currently shows a dividend yield of about 4.76% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Vetnostrum Animal Health Co., Ltd (6936)?
For today's price to be fair in a discounted-cash-flow model, Vetnostrum Animal Health Co., Ltd would have to grow free cash flow by -2.3 % per year for five years (discount rate 11.8 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 4 years revenue grew +4.8 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 6936 use?
Our models discount Vetnostrum Animal Health Co., Ltd at 11.8 %: a base by market capitalisation (micro), damped by beta 0.10, 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 Vetnostrum Animal Health Co., Ltd that is -2.3 % per year a year over ten years, using the same discount rate (11.8 %) and the same formula as our fair value.
How much growth has Vetnostrum Animal Health Co., Ltd (6936) delivered so far?
Over the past 4 years revenue at Vetnostrum Animal Health Co., Ltd grew +4.8 % a year. The price currently implies -2.3 % 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 Vetnostrum Animal Health Co., Ltd (6936) growing?
The median revenue growth in the sector is +2.7 % a year. That is the yardstick for the growth priced into Vetnostrum Animal Health Co., Ltd (-2.3 % 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 Vetnostrum Animal Health Co., Ltd (6936)?
The free-cash-flow yield on the price is 11.41 %: that much free cash flow Vetnostrum Animal Health Co., Ltd produces per unit of market value. When it exceeds the discount rate of our models (11.8 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Vetnostrum Animal Health Co., Ltd (6936)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Vetnostrum Animal Health Co., Ltd it is 35.10 TWD per share (as of Sep 24, 2026), against a price of 31.70 TWD. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is Vetnostrum Animal Health Co., Ltd stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 6936 trades below its calculated fair value: price 31.70 TWD, fair value 35.10 TWD, a gap of about +11% (undervalued). 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 6936?
No. The price is what the market pays today (31.70 TWD); the fair value is what the company's own numbers justify (35.10 TWD). For Vetnostrum Animal Health Co., Ltd the two are 3.40 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Vetnostrum Animal Health Co., Ltd worth?
The market values Vetnostrum Animal Health Co., Ltd at about 2.3B TWD (market capitalisation, as of Sep 24, 2026). Per share that is 31.70 TWD; our models calculate a fair value of 35.10 TWD per share.
What do the bullish and bearish scenarios say about 6936?
Our models span a range for Vetnostrum Animal Health Co., Ltd: cautious scenario 25.99 TWD, base 35.10 TWD, optimistic 44.22 TWD per share (as of Sep 24, 2026, price 31.70 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 6936?
Vetnostrum Animal Health Co., Ltd trades at a price-to-earnings ratio of 14.0 (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 35.10 TWD is built from several models across several years. Other multiples: P/B 1.7, P/S 1.5, EV/EBITDA 8.6.
How solid is the balance sheet of Vetnostrum Animal Health Co., Ltd (6936)?
Balance-sheet figures for Vetnostrum Animal Health Co., Ltd (as of Sep 24, 2026): return on equity 12.4%. They feed the Quality Score of 68/100, which measures business quality independently of the share price.
How far is 6936 from its 52-week high?
Vetnostrum Animal Health Co., Ltd trades at 31.70 TWD, about 21% below its 52-week high of 40.15 TWD and 1% above the low of 31.26 TWD (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 35.10 TWD is for.
Which stocks are comparable to Vetnostrum Animal Health Co., Ltd?
From the same area (Consumer Defensive) we also value Archer-Daniels-Midland Company, Muyuan Foods Group, Bunge Global SA, Tyson Foods, 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 Vetnostrum Animal Health Co., Ltd stock attractive at the current price?
The data as of Sep 24, 2026: price 31.70 TWD, calculated fair value 35.10 TWD (+11%), Quality Score 68/100, from 26 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 6936 calculated?
We run Vetnostrum Animal Health Co., Ltd through 26 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 35.10 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. Vetnostrum Animal Health Co., Ltd currently trades 11 % below its own fair value, and the market average says nothing about that. 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 Vetnostrum Animal Health Co., Ltd (6936)?
The closing price on Sep 24, 2026 was 31.70 TWD. Our model-based fair value is 35.10 TWD, about +11% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Vetnostrum Animal Health Co., Ltd right now?
Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual. The price sits in the lower half of our model range, the side with the larger margin of safety. Read the verdict with care: some models are missing inputs, so the estimate scatters more than usual.
Key figures of Vetnostrum Animal Health Co., Ltd
How large is the market capitalisation of Vetnostrum Animal Health Co., Ltd (6936)?
The market capitalisation of Vetnostrum Animal Health Co., Ltd is 2.3B TWD (≈ $72.5M). 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 Vetnostrum Animal Health Co., Ltd (6936)?
The price-to-sales ratio of Vetnostrum Animal Health Co., Ltd is 1.27 (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 Vetnostrum Animal Health Co., Ltd (6936)?
Earnings per share at Vetnostrum Animal Health Co., Ltd are 2.27 TWD (price ÷ EPS = P/E 14.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Vetnostrum Animal Health Co., Ltd (6936)?
The dividend yield of Vetnostrum Animal Health Co., Ltd is 4.8% (payout 66.5%). 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 Vetnostrum Animal Health Co., Ltd (6936)?
The net margin of Vetnostrum Animal Health Co., Ltd is 9.1% (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 Vetnostrum Animal Health Co., Ltd (6936)?
The return on equity (ROE) of Vetnostrum Animal Health Co., Ltd is 12.4% (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 Vetnostrum Animal Health Co., Ltd (6936)?
On an EBIT basis the return on assets of Vetnostrum Animal Health Co., Ltd is 9.4% (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 Vetnostrum Animal Health Co., Ltd (6936)?
The operating margin of Vetnostrum Animal Health Co., Ltd is 13.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Vetnostrum Animal Health Co., Ltd (6936)?
Revenue at Vetnostrum Animal Health Co., Ltd is growing +14.7% versus a year earlier (3y avg +6.1%). 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 Vetnostrum Animal Health Co., Ltd (6936)?
Earnings per share at Vetnostrum Animal Health Co., Ltd are growing +157% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Vetnostrum Animal Health Co., Ltd (6936) carry?
The net debt of Vetnostrum Animal Health Co., Ltd is 98.4M TWD (fiscal year 2022, ≈ 0.4 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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