Koan Hao Technology Co Ltd (8354) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Koan Hao Technology Co Ltd stock TWD 12.06, price TWD 16.20, that is 25.6% below the price, quality 51 out of 100. Rating: overvalued. Calculated from audited financials with 19 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 9, 2026.
How to read this chart
60‑month range 13.30 TWD – 19.10 TWD · fair‑value band 11.02 TWD – 13.66 TWD · the 16.20 TWD price screens above the 12.06 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 9, 2026.
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Koan Hao Technology Co., Ltd. engaged in the processing, manufacturing, and trading of trademark paper, release paper, tape and other products in Taiwan, Vietnam, China, and internationally. The company offers release liners and adhesive tapes.
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It also provides pressure sensitive labels, including water-based, solvent-based, hot melt type, etc. for commodity packaging and industrial purposes; release papers, release films, and PE coated products; and polyimide protective films, polyester protective films, and OPP lamination tapes/transfer tapes.
In addition, the company offers industrial double-sided, electronics, and quad flat no-leads package tapes; and specialty tapes, including fiberglass tapes, UV, thermal release tapes, cooling stripping type protective films, and lithographic red PET tapes.
The company was formerly known as Koan Hao Enterprise Co., Ltd. and changed its name to Koan Hao Technology Co., Ltd. in 2013. Koan Hao Technology Co., Ltd. was founded in 1992 and is based in Nantou City, Taiwan.
Stock analysis
Koan Hao Technology Co Ltd (8354) currently trades at 16.20 TWD, while our model-based Fair Value estimate is 12.06 TWD, 26% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Economic Profit group reads highest at a median of 16.87 TWD per share, and 3 of the 19 models we run sit above the 16.20 TWD price.
Bear case: the Asset-Based group reads lowest at 1.24 TWD, and 16 of the 19 models stay below the price. Data coverage for this calculation is low.
Scenario range: 11.02 TWD (bear) to 13.66 TWD (bull), the price of 16.20 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 51/100 (solid quality), in the Basic Materials sector.
Weak Growth: Revenue growth is weak: less than 2 % a year.
Koan Hao Technology Co Ltd reported revenue of 644M TWD in FY2025 versus 759M TWD in FY2021, a compound −4.0%/yr. Reported net income was 10.6M TWD in FY2025, compounding −54.1%/yr from FY2021.
Key figures
Market cap 1.3B TWD (≈ $38.7M) Micro · P/E ratio 6.0 · P/S ratio 1.93 · EPS (TTM) 2.71 TWD · Dividend yield 0.7% · Net margin 32.3% · Return on equity 10.3% · Return on assets (EBIT) 2.6% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 38 out of 100 (medium confidence).
What moves the price
The share trades about 15% below its 52-week high and 9% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at −43% fair-value upside, at −26%, 8354 screens cheaper than that median.
Fair Value models
Bear11.02 TWDFair Value 12.06 TWDBull13.66 TWD
Price 16.20 TWD · Downside -25.6%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (2.23 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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = 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.
Best data coverage
FCF DCF8.71 TWD11.59 TWD16.92 TWD81
Growth DCF9.05 TWD11.85 TWD16.63 TWD79
Owner Earnings13.26 TWD17.93 TWD26.58 TWD76
All 19 models by family
DCF Models
FCF DCF8.71 TWD11.59 TWD16.92 TWD81
Owner Earnings13.26 TWD17.93 TWD26.58 TWD76
5Y Revenue Exit6.14 TWD7.75 TWD10.07 TWD74
5Y EBITDA Exit7.73 TWD10.50 TWD14.17 TWD76
5Y P/E Exit5.11 TWD5.97 TWD7.02 TWD72
10Y Revenue Exit7.00 TWD8.29 TWD9.62 TWD68
10Y EBITDA Exit8.05 TWD9.99 TWD12.02 TWD70
10Y P/E Exit6.47 TWD7.19 TWD7.83 TWD65
Earnings-Based
Graham-Dodd0.9200 TWD1.12 TWD1.27 TWD67
Dividend Discount
Gordon GGM5.51 TWD6.03 TWD6.83 TWD69
DDM Multi-Stage5.51 TWD6.92 TWD8.89 TWD67
Multiples
P/E Multiple1.73 TWD2.30 TWD2.88 TWD63
P/S Multiple1.73 TWD2.30 TWD2.88 TWD58
P/B Multiple12.26 TWD16.34 TWD20.43 TWD55
Asset-Based
NCAV (Graham)0.8200 TWD1.24 TWD1.55 TWD55
Growth DCF
Growth DCF9.05 TWD11.85 TWD16.63 TWD79
Rev-Margin DCF6.14 TWD7.92 TWD10.16 TWD74
Economic Profit
Residual Income16.12 TWD16.87 TWD17.98 TWD76
Growth Earnings
Growth-Adj P/E1.23 TWD1.76 TWD2.28 TWD67
The fair value above starts from this blend and is adjusted for a cyclical trough year.
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
+0.6%
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.
−1.7%
Revenue growth 5 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.
−3.2%
Start year 2020 (pandemic)
Revenue growth 8 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.
−3.0%
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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.
−35.2%
Earnings growth per share plus dividend.
Earnings per share, growth per year−35.9%
Dividend (yield on the price)0.7%
Profit margin 2020 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.8% → −1%
⚠ Revenue per share shrinking 3.2%/yr over ~6Y (margins eroding too) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
Growth Forecast
A lot of optimism in the price
The price assumes more 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).
+20.4%
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 +18.5% a year for the price.
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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 Chemicals · 728 stocks
Beats the industry median on 6/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score51 · Below median
Fair Value upside−25.6% · Above median
Profitability
Return on equity (12 months)10.3% · Above median
Return on assets0.3% · Bottom 25%
Net margin (12 months)32.3% · Top 25%
Operating margin (12 months)1.4% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY)2.8% · Below median
Dividend yield (12 months)0.7% · Below median
Balance sheet
Debt / equity0.09× · Below median
Valuation Multiplesvs Specialty Chemicals median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Koan Hao Technology Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/8354
Frequently asked questions
Is Koan Hao Technology Co Ltd (8354) overvalued or undervalued?
As of Nov 9, 2026, our model estimates a fair value of 12.06 TWD versus a price of 16.20 TWD, about 26% lower (overvalued).
What is the fair value of 8354?
Our model-based fair value for Koan Hao Technology Co Ltd is 12.06 TWD (as of Nov 9, 2026), built from audited fundamentals. The current price: 16.20 TWD.
What is the quality score of 8354?
Koan Hao Technology 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 Koan Hao Technology Co Ltd (8354)?
Our model-based price target is the fair value of 12.06 TWD (as of Nov 9, 2026) from 19 valuation models. Cautious scenario 11.02 TWD, optimistic scenario 13.66 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Koan Hao Technology Co Ltd stock forecast for 2026?
Our models put fair value at 12.06 TWD, about 26% lower versus a price of 16.20 TWD (overvalued). Cautious scenario 11.02 TWD, optimistic scenario 13.66 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Koan Hao Technology Co Ltd (8354)?
Koan Hao Technology Co Ltd reported trailing-twelve-month revenue of about 659M TWD (latest available figure, as of Nov 9, 2026).
Does Koan Hao Technology Co Ltd pay a dividend?
Koan Hao Technology Co Ltd currently shows a dividend yield of 0.68% relative to its recent price (as of Nov 9, 2026).
How much is the dividend of Koan Hao Technology Co Ltd (8354) and when is the ex-dividend date?
Koan Hao Technology Co Ltd pays a dividend of 0.11 TWD per share a year, a dividend yield of 0.7%. The last ex-dividend date was Aug 5, 2026. A dividend has been paid every year since 2011. The payout ratio is 4.1% of earnings. Free cash flow covers the dividend 3.43 times. Our assessment: Well covered. A low payout and the dividend is fully funded by free cash flow, a comfortable, sustainable dividend.
What growth is priced into Koan Hao Technology Co Ltd (8354)?
For today's price to be fair in a discounted-cash-flow model, Koan Hao Technology Co Ltd would have to grow free cash flow by +20.4 % per year for five years (discount rate 9.0 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -3.2 % per year. As of Nov 9, 2026.
What discount rate (WACC) does the fair value of 8354 use?
Our models discount Koan Hao Technology Co Ltd at 9.0 %: a base by market capitalisation (nano), damped by beta 0.27, 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 Koan Hao Technology Co Ltd that is +20.4 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (9.0 %) and the same formula as our fair value.
How much growth has Koan Hao Technology Co Ltd (8354) delivered so far?
Over the past 5 years revenue at Koan Hao Technology Co Ltd grew -3.2 % a year. The price currently implies free-cash-flow growth of +20.4 % per 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 Koan Hao Technology Co Ltd (8354) growing?
The median revenue growth in the sector is +9.8 % a year. That is the yardstick for the growth priced into Koan Hao Technology Co Ltd (+20.4 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Koan Hao Technology Co Ltd (8354)?
The free-cash-flow yield on the price is 2.33 %: that much free cash flow Koan Hao Technology Co Ltd produces per unit of market value. When it exceeds the discount rate of our models (9.0 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Koan Hao Technology Co Ltd (8354)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Koan Hao Technology Co Ltd it is 12.06 TWD per share (as of Nov 9, 2026), against a price of 16.20 TWD. It is the blended result of 19 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Koan Hao Technology Co Ltd stock overvalued or undervalued in 2026?
As of Nov 9, 2026, 8354 trades above its calculated fair value: price 16.20 TWD, fair value 12.06 TWD, a gap of about −26% (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 8354?
No. The price is what the market pays today (16.20 TWD); the fair value is what the company's own numbers justify (12.06 TWD). For Koan Hao Technology Co Ltd the two are 4.14 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Koan Hao Technology Co Ltd worth?
The market values Koan Hao Technology Co Ltd at about 1.3B TWD (market capitalisation, as of Nov 9, 2026). Per share that is 16.20 TWD; our models calculate a fair value of 12.06 TWD per share.
What do the bullish and bearish scenarios say about 8354?
Our models span a range for Koan Hao Technology Co Ltd: cautious scenario 11.02 TWD, base 12.06 TWD, optimistic 13.66 TWD per share (as of Nov 9, 2026, price 16.20 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 8354?
Koan Hao Technology Co Ltd trades at a price-to-earnings ratio of 6.0 (as of Nov 9, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 12.06 TWD is built from several models across several years. Median P/E at fiscal year-end, 7 fiscal years (2019 to 2025), reported earnings: 15.1. Other multiples: P/B 0.6, P/S 1.9, EV/EBITDA 16.7.
How solid is the balance sheet of Koan Hao Technology Co Ltd (8354)?
Balance-sheet figures for Koan Hao Technology Co Ltd (as of Nov 9, 2026): return on equity 10.3%, debt of 0.09 per unit of equity. They feed the Quality Score of 51/100, which measures business quality independently of the share price.
How far is 8354 from its 52-week high?
Koan Hao Technology Co Ltd trades at 16.20 TWD, about 15% below its 52-week high of 19.00 TWD and 9% above the low of 14.85 TWD (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 12.06 TWD is for.
Which stocks are comparable to Koan Hao Technology Co Ltd?
From the same area (Basic Materials) we also value Linde plc, Ecolab Inc, The Sherwin-Williams Company, Nan Ya Plastics Corporation, 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 Koan Hao Technology Co Ltd stock attractive at the current price?
The data as of Nov 9, 2026: price 16.20 TWD, calculated fair value 12.06 TWD (−26%), Quality Score 51/100, from 19 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 8354 calculated?
We run Koan Hao Technology Co Ltd through 19 models from 8 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of 12.06 TWD builds on their evidence-weighted average, 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 13.3% above its aggregate fair value. Koan Hao Technology 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 Koan Hao Technology Co Ltd (8354)?
The closing price on Nov 6, 2026 was 16.20 TWD. Our model-based fair value is 12.06 TWD, about 26% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Koan Hao Technology Co Ltd right now?
The price sits above even our optimistic bull case (13.66 TWD). The favourable scenario is already priced in. Solid but not exceptional quality (51/100) and above fair value, neither a clear bargain nor a standout compounder. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
Key figures of Koan Hao Technology Co Ltd
How large is the market capitalisation of Koan Hao Technology Co Ltd (8354)?
The market capitalisation of Koan Hao Technology Co Ltd is 1.3B TWD (≈ $38.7M). 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 Koan Hao Technology Co Ltd (8354)?
The price-to-sales ratio of Koan Hao Technology Co Ltd is 1.93 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Koan Hao Technology Co Ltd (8354)?
Earnings per share at Koan Hao Technology Co Ltd are 2.71 TWD (price ÷ EPS = P/E 6.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Koan Hao Technology Co Ltd (8354)?
The dividend yield of Koan Hao Technology Co Ltd is 0.7% (payout 4.1%). 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 Koan Hao Technology Co Ltd (8354)?
The net margin of Koan Hao Technology Co Ltd is 32.3% (last twelve months). 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 Koan Hao Technology Co Ltd (8354)?
The return on equity (ROE) of Koan Hao Technology Co Ltd is 10.3% (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 Koan Hao Technology Co Ltd (8354)?
On an EBIT basis the return on assets of Koan Hao Technology Co Ltd is 2.6% (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 Koan Hao Technology Co Ltd (8354)?
The operating margin of Koan Hao Technology Co Ltd is 1.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Koan Hao Technology Co Ltd (8354)?
Revenue at Koan Hao Technology Co Ltd is growing +2.8% versus a year earlier (3y avg −1.7%). 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 Koan Hao Technology Co Ltd (8354)?
Earnings per share at Koan Hao Technology Co Ltd are growing +650% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Koan Hao Technology Co Ltd (8354) carry?
The net debt of Koan Hao Technology Co Ltd is 1.6B TWD (fiscal year 2025, ≈ 53.8 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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Thin data
Nov 9, 2026