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QST International Corp (8349) Fair Value & Analysis

Industrials · TW · Market cap 8.2B TWD

QI QST International Corp 8349 · TWO
Price39.75 TWD
Fair Value29.43 TWD
Upside-26.0%
Quality21/100
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Expensive Growth
Thin margins · 3.8% net margin
Moderate debt · negative free cash flow
3.78% dividend yield
Trails peers (5/13)
Narrow moat 36/100
Evidence: Medium Range 22.07 TWD – 36.78 TWD Share as image

Fair value as of: Jul 23, 2026

From 14 valuation models · updated 18 days ago

Share price −0.1% over the past month.

Below-average quality, and screening another 26% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (36.78 TWD). The favourable scenario is already priced in.
  • Weak quality (21/100) and above fair value at the same time, the margin of safety is missing on both counts.
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Price vs Fair Value (5 years)

61.25 TWD 30.61 TWD Fair Value 29.43 TWD Jan 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 30.61 TWD – 61.25 TWD · fair‑value band 22.07 TWD – 36.78 TWD · the 39.75 TWD price screens above the 29.43 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

QST International Corp (8349) currently trades at 39.75 TWD, while our model-based Fair Value estimate is 29.43 TWD, implying the stock looks roughly 26.0% overvalued today. The Quality Score stands at 21/100 (below-average quality), in the Industrials 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: medium).

Over the trailing twelve months, QST International Corp generated revenue of 11.5B TWD at a net margin of 3.8%. Revenue grew 1.6% year over year. It earns a return on equity of 3.9%. Net debt stands at 8.9B TWD. Fundamentals as of Jul 23, 2026

Our scenario range runs from 22.07 TWD (bear case) to 36.78 TWD (bull case); at 39.75 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 19% below its 52-week high and 4% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -26% fair-value upside, at -26%, 8349 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 28.25 TWD 28.68 TWD 27.75 TWD 76
ROIC Compounder 1.87 TWD 72
Growth-Adj P/E 27.24 TWD 38.92 TWD 50.60 TWD 68
All 14 models by family
Earnings-Based
Graham-Dodd 13.85 TWD 46.51 TWD 62.31 TWD 54
Lynch FV 10.59 TWD 15.13 TWD 19.67 TWD 50
PEG = 1.0 10.59 TWD 15.13 TWD 19.67 TWD 46
EPV 1.87 TWD 59
Multiples
P/E Multiple 32.07 TWD 42.76 TWD 53.45 TWD 63
P/S Multiple 25.96 TWD 34.62 TWD 43.27 TWD 58
P/B Multiple 25.96 TWD 34.62 TWD 43.27 TWD 55
EV/EBIT 17.27 TWD 29.32 TWD 41.38 TWD 53
EV/EBITDA 49.44 TWD 72.22 TWD 95.00 TWD 54
EV/Revenue 6.91 TWD 17.98 TWD 29.04 TWD 43
Asset-Based
NCAV (Graham) 18.44 TWD 24.71 TWD 36.89 TWD 50
Economic Profit
Residual Income 28.25 TWD 28.68 TWD 27.75 TWD 76
ROIC Compounder 1.87 TWD 72
Growth Earnings
Growth-Adj P/E 27.24 TWD 38.92 TWD 50.60 TWD 68

Widest divergence: Growth Earnings (38.92 TWD) versus Earnings-Based (15.13 TWD). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 11.5B TWD
Revenue growth (YoY) +1.6%
Net margin 3.8%
Return on equity 3.9%
Free cash flow −1.1B TWD FY2025
P/E ratio 21.9
More key figures
Operating margin 6.8%
EPS (TTM) 1.92 TWD
Dividend yield 3.6%
EPS growth (YoY) +2.6%
Net debt 8.9B TWD FY2025

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

Quality Score breakdown

Overall quality 21/100

Of which business quality 24 · Market factors (momentum, volatility) 47

Profitability 26
Margins and returns on capital today
Quality Growth 25
Are margins and returns improving?
Cashflow 36
Earnings quality: real cash, not paper profit
Fin. Strength 23
Balance sheet, leverage, solvency risk
Investment 26
Disciplined investing over empire-building
Low Volatility 89
Calm price path (market factor)
Momentum 32
Price trend over the last 3–12 months (market factor)
52W Momentum 25
Distance to the 52-week high (market factor)
Net Issuance 0
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

QST International Corp. manufactures and sells screws and nuts in the Mainland, the America, Germany, Taiwan, and internationally.

Full company description

QST International Corp. manufactures and sells screws and nuts in the Mainland, the America, Germany, Taiwan, and internationally. The company provides proprietary fasteners, such as screws and induction hardened bolts; and auto fasteners, including weld bolts and weld studs, screws and washer assemblies, multi-die headed pins and rivets, and special screws per print, as well as internal, external, and non fasteners. It serves car manufacturers. The company is also involved in manufacture and sale of automotive fasteners; management, leasing and development of real estate; invests in; supply of metal parts, hardware tools, and plastic products; wholesale and import/export of molds and precision instruments; and testing and logistics services. QST International Corp. was incorporated in 1985 and is based in Tainan City, Taiwan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

QST International Corp reported revenue of 11.5B TWD in FY2025 versus 10.2B TWD in FY2021, a compound +3.0%/yr. Reported net income was 415M TWD in FY2025, compounding +2.5%/yr from FY2021.

Growth Quality 26/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
11.5B TWD
Latest YoY
−12.8%
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.
−0.1%
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.
+5.4%
Avg. growth/yr (23Y) 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.
+9.4%
Revenue +3.0%/yr
FY21 10.2B TWD
FY22 11.5B TWD
FY23 12.2B TWD
FY24 13.1B TWD
FY25 11.5B TWD
Net income +2.5%/yr
FY21 376M TWD
FY22 589M TWD
FY23 474M TWD
FY24 739M TWD
FY25 415M TWD
Character of growth · EPS growth decomposed (2012-2023) +2.0 % p.a.
Revenue per share +2.9 pp

of which total revenue +9.9 pp · buybacks/dilution −7.0 pp

EBIT margin −1.4 pp
Tax rate +1.3 pp
Residual (interest, one-offs) −0.8 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

8349 screens 26% overvalued. Compare with Techtronic Industries Company →

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Cite: Fair Value Calculator (2026). "QST International Corp Fair Value". https://www.fairvalue-calculator.com/stock/8349

Peer Group

Tools & Accessories · 119 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 21 · Bottom 25%
Fair Value upside −26% · Below median
Return on equity (TTM) 4% · Below median
Return on assets 2% · Below median
Net margin (TTM) 4% · Below median
Operating margin (TTM) 7% · Below median
Revenue growth 2% · Below median
Dividend yield (TTM) 3.8% · Top 25%
Debt / equity 0.75× · Higher than 75% of peers

Valuation Multiples vs Tools & Accessories median · lower = cheaper

P/E (TTM) 21.1× · Cheaper than median
P/B 1.10× · Cheaper than median
P/S (TTM) 0.72× · Cheaper than median
EV/EBITDA 8.5× · Cheaper 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 0 · sector 3
FUTURE 8 · sector 14
PAST 16 · sector 28
HEALTH 63 · sector 96
DIVIDEND 76 · sector 36

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 Tools & Accessories stocks, each showing price versus our Fair Value estimate (as of Jul 23, 2026).

Stock Price Fair Value vs Fair Value
Techtronic Industries Company 0669 HK$129.60 HK$81.05 -37%
Snap-on Incorporated SNA $410.99 $350.46 -15%
RBC Bearings Incorporated RBC $595.49 $184.29 -69%
Lincoln Electric Holdings LECO $252.58 $154.80 -39%
Stanley Black & Decker, Inc SWK $88.22 $54.24 -39%
AB SKF (publ) SKFB kr 258.90 kr 192.57 -26%
The Timken Company TKR $139.47 $66.33 -52%
The Toro Company TTC $94.42 $69.71 -26%
SFS Group SFSN CHF 140.00 CHF 118.30 -16%
Hangzhou Greatstar Industrial Co 002444 ¥29.33 ¥35.72 +22%

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Frequently asked questions

Is QST International Corp (8349) overvalued or undervalued?
As of Jul 23, 2026, our model estimates a fair value of 29.43 TWD versus a price of 39.75 TWD, about −26% (overvalued).
What is the fair value of 8349?
Our model-based fair value for QST International Corp is 29.43 TWD (as of Jul 23, 2026), built from audited fundamentals. The current price is 39.75 TWD.
What is the quality score of 8349?
QST International Corp has a Quality Score of 21/100. 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 QST International Corp (8349)?
QST International Corp reported trailing-twelve-month revenue of about 11.5B TWD (latest available figure, as of Jul 23, 2026).
What is the net profit margin of 8349?
The net profit margin of QST International Corp is about 3.8%, meaning it keeps roughly 3.8% of revenue as net income. Based on the latest reported figures.
Does QST International Corp pay a dividend?
QST International Corp currently shows a dividend yield of about 3.58% relative to its recent price (as of Jul 23, 2026).

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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