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Superior Plating Technology Co (8431) Fair Value & Analysis

Basic Materials · TW · Market cap 2.4B TWD

SP Superior Plating Technology Co 8431 · TWO
Price49.80 TWD
Fair Value76.88 TWD
Upside+54.4%
Quality34/100
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Weak Growth
Loss-making · -20.2% net margin
Low debt · negative free cash flow
Mixed vs. peers (4/10)
Narrow moat 8/100
Evidence: Low Range 26.50 TWD – 127.77 TWD Share as image

Fair value as of: Jul 22, 2026

From 4 valuation models · updated 19 days ago

Fair value updated Jul 22, 2026, revised from 46.88 TWD to 76.88 TWD (+64.0%) since Jul 22, 2026. Share price +0.9% over the past month.

Below-average quality, screening 54% undervalued on our models.

What matters now

  • The large discount to fair value meets weak quality (34/100). That raises the risk this is a value trap rather than a bargain.
  • The model range is unusually wide (26.50 TWD to 127.77 TWD). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
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Price vs Fair Value (5 years)

89.84 TWD 38.00 TWD Fair Value 76.88 TWD Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 22, 2026.

How to read this chart

60‑month range 38.00 TWD – 89.84 TWD · fair‑value band 26.50 TWD – 127.77 TWD · the 49.80 TWD price screens below the 76.88 TWD fair value. Dashed = 300-day average. As of Jul 22, 2026.

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Analysis

Superior Plating Technology Co (8431) currently trades at 49.80 TWD, while our model-based Fair Value estimate is 76.88 TWD, implying the stock looks roughly 54.4% undervalued today. The Quality Score stands at 34/100 (below-average quality), in the Basic Materials sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: low), always confirm before acting.

Over the trailing twelve months, Superior Plating Technology Co generated revenue of 1.1B TWD at a net margin of -20.2%. Revenue grew 5.5% year over year. It earns a return on equity of -22.1%. Net debt stands at 115M TWD. Fundamentals as of Jul 22, 2026

Our scenario range runs from 26.50 TWD (bear case) to 127.77 TWD (bull case); at 49.80 TWD, the current price sits within 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 39% below its 52-week high and 31% above its 52-week low, currently below its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -58% fair-value upside, at 54%, 8431 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
Gordon GGM 0.7900 TWD 1.07 TWD 1.35 TWD 70
DDM Multi-Stage 0.7900 TWD 1.08 TWD 1.41 TWD 61
EV/EBITDA 5.90 TWD 6.86 TWD 7.81 TWD 54
All 4 models by family
Dividend Discount
Gordon GGM 0.7900 TWD 1.07 TWD 1.35 TWD 70
DDM Multi-Stage 0.7900 TWD 1.08 TWD 1.41 TWD 61
Multiples
EV/EBITDA 5.90 TWD 6.86 TWD 7.81 TWD 54
Asset-Based
NCAV (Graham) 7.90 TWD 10.59 TWD 15.81 TWD 50

Widest divergence: Asset-Based (10.59 TWD) versus Dividend Discount (1.07 TWD). Highest evidence: Gordon GGM (70).

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Key figures & financial health

Revenue (TTM) 1.1B TWD
Revenue growth (YoY) +5.5%
Net margin -20.2%
Return on equity -22.1%
Free cash flow −77.4M TWD FY2025
Operating margin -18.6%
More key figures
EPS (TTM) -3.88 TWD
EPS growth (YoY) -18.4%
Net debt 115M TWD FY2025

Figures from reported company fundamentals · as of Jul 22, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 34/100

Of which business quality 36 · Market factors (momentum, volatility) 39

Profitability 9
Margins and returns on capital today
Quality Growth 8
Are margins and returns improving?
Cashflow 12
Earnings quality: real cash, not paper profit
Fin. Strength 60
Balance sheet, leverage, solvency risk
Investment 66
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 30
Price trend over the last 3–12 months (market factor)
52W Momentum 43
Distance to the 52-week high (market factor)
Net Issuance 79
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

Superior Plating Technology Co., Ltd. operates as a surface treatment service provider and planting management company in China, Thailand, and internationally. The company provides surface treatment services for metal or plastic products; and related management consulting services, including environmental, automation, and production services.

Full company description

Superior Plating Technology Co., Ltd. operates as a surface treatment service provider and planting management company in China, Thailand, and internationally. The company provides surface treatment services for metal or plastic products; and related management consulting services, including environmental, automation, and production services. It is also involved in the wholesale of electrical appliances and industrial additives. The company was founded in 1997 and is headquartered in Taipei City, Taiwan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Superior Plating Technology Co reported revenue of 1.1B TWD in FY2025 versus 1.4B TWD in FY2021, a compound −6.1%/yr. Reported net income was −184M TWD in FY2025.

Growth Quality 12/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
1.1B TWD
Latest YoY
+2.6%
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.
−2.3%
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.
+0.3%
Avg. growth/yr (8Y) 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.
+4.0%
Revenue −6.1%/yr
FY21 1.4B TWD
FY22 1.1B TWD
FY23 923M TWD
FY24 1.0B TWD
FY25 1.1B TWD
Net income
FY21 188M TWD
FY22 26.0M TWD
FY23 25.8M TWD
FY24 54.9M TWD
FY25 −184M TWD

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Cite: Fair Value Calculator (2026). "Superior Plating Technology Co Fair Value". https://www.fairvalue-calculator.com/stock/8431

Peer Group

Specialty Chemicals · 673 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 34 · Bottom 25%
Fair Value upside +54% · Top 25%
Return on assets -5% · Bottom 25%
Net margin (TTM) -20% · Bottom 25%
Operating margin (TTM) -19% · Bottom 25%
Revenue growth 6% · Above median
Debt / equity 0.42× · Higher than 75% of peers

Valuation Multiples vs Specialty Chemicals median · lower = cheaper

P/B 0.10× · Cheaper than 75% of peers
P/S (TTM) 0.07× · Cheaper 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 100 · sector 0
FUTURE 28 · sector 19
PAST 0 · sector 23
HEALTH 79 · sector 95
DIVIDEND 0 · sector 25

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 Specialty Chemicals stocks, each showing price versus our Fair Value estimate (as of Jul 22, 2026).

Stock Price Fair Value vs Fair Value
Linde plc LIN $489.98 $222.03 -55%
Nan Ya Plastics Corporation 1303 181.50 TWD 255.83 TWD +41%
Wanhua Chemical Group 600309 ¥70.04 ¥68.03 -3%
Novozymes A/S NSISB kr 428.20 kr 179.66 -58%
Asian Paints Limited ASIANPAINT ₹2,689 ₹668.81 -75%
Solar Industries India Limited SOLARINDS ₹18,236 ₹2,793 -85%
Pidilite Industries Limited PIDILITIND ₹1,560 ₹351.84 -77%
PT Chandra Asri Pacific Tbk TPIA 1,805 IDR 2,888 IDR +60%
Linde India Limited LINDEINDIA ₹7,115 ₹757.93 -89%
Berger Paints India Limited BERGEPAINT ₹493.70 ₹164.29 -67%

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Frequently asked questions

Is Superior Plating Technology Co (8431) overvalued or undervalued?
As of Jul 22, 2026, our model estimates a fair value of 76.88 TWD versus a price of 49.80 TWD, about +54% (undervalued).
What is the fair value of 8431?
Our model-based fair value for Superior Plating Technology Co is 76.88 TWD (as of Jul 22, 2026), built from audited fundamentals. The current price is 49.80 TWD.
What is the quality score of 8431?
Superior Plating Technology Co has a Quality Score of 34/100. 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 Superior Plating Technology Co (8431)?
Superior Plating Technology Co reported trailing-twelve-month revenue of about 1.1B TWD (latest available figure, as of Jul 22, 2026).
What is the net profit margin of 8431?
The net profit margin of Superior Plating Technology Co is about -20.2%, meaning it is currently running at a net loss. 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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