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E&E Recycling,Inc. (8440) Fair Value & Analysis

Industrials · TW · Market cap 1.0B TWD

EE E&E Recycling,Inc. 8440 · TWO
Price19.85 TWD
Fair Value6.45 TWD
Upside-67.5%
Quality58/100
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Mixed Growth
Thin margins · 3.2% net margin
Low debt · generates free cash flow
0.99% dividend yield
Trails peers (4/14)
Narrow moat 35/100
Evidence: High Range 4.84 TWD – 8.07 TWD Share as image

Fair value as of: Jul 22, 2026

From 22 valuation models · updated 20 days ago

Share price −6.1% over the past month.

A solid business, but screening 68% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (8.07 TWD). The favourable scenario is already priced in.
  • Solid but not exceptional quality (58/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

95.40 TWD 15.21 TWD Fair Value 6.45 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 15.21 TWD – 95.40 TWD · fair‑value band 4.84 TWD – 8.07 TWD · the 19.85 TWD price screens above the 6.45 TWD fair value. Dashed = 300-day average. As of Jul 22, 2026.

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Analysis

E&E Recycling,Inc. (8440) currently trades at 19.85 TWD, while our model-based Fair Value estimate is 6.45 TWD, implying the stock looks roughly 67.5% overvalued today. The Quality Score stands at 58/100 (solid 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: high).

Over the trailing twelve months, E&E Recycling,Inc. generated revenue of 850M TWD at a net margin of 3.2%. Revenue declined 25.9% year over year. It earns a return on equity of 4.3%. The balance sheet holds a net cash position of 109M TWD. Fundamentals as of Jul 22, 2026

Our scenario range runs from 4.84 TWD (bear case) to 8.07 TWD (bull case); at 19.85 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 49% below its 52-week high, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -40% fair-value upside, at -68%, 8440 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
Growth DCF 22.37 TWD 27.71 TWD 34.53 TWD 80
Residual Income 8.55 TWD 7.98 TWD 5.95 TWD 76
Rev-Margin DCF 13.41 TWD 16.11 TWD 19.28 TWD 74
All 22 models by family
DCF Models
FCF DCF 21.95 TWD 27.67 TWD 35.36 TWD 38
Owner Earnings 9.33 TWD 11.22 TWD 13.77 TWD 31
5Y Revenue Exit 13.41 TWD 15.68 TWD 18.43 TWD 39
5Y EBITDA Exit 16.54 TWD 21.11 TWD 26.32 TWD 41
5Y P/E Exit 13.48 TWD 15.81 TWD 18.16 TWD 38
10Y Revenue Exit 16.85 TWD 19.35 TWD 21.99 TWD 36
10Y EBITDA Exit 18.72 TWD 22.66 TWD 27.03 TWD 37
10Y P/E Exit 16.99 TWD 19.43 TWD 21.82 TWD 35
Earnings-Based
Graham-Dodd 2.09 TWD 4.13 TWD 5.18 TWD 54
EPV 5.44 TWD 5.76 TWD 6.03 TWD 59
Multiples
P/E Multiple 4.84 TWD 6.45 TWD 8.07 TWD 63
P/S Multiple 3.92 TWD 5.22 TWD 6.53 TWD 58
P/B Multiple 3.92 TWD 5.22 TWD 6.53 TWD 55
EV/EBIT 9.22 TWD 11.26 TWD 13.31 TWD 53
EV/EBITDA 14.04 TWD 17.69 TWD 21.34 TWD 54
EV/Revenue 7.46 TWD 9.34 TWD 11.22 TWD 43
Asset-Based
NCAV (Graham) 6.39 TWD 8.57 TWD 12.79 TWD 50
Growth DCF
Growth DCF 22.37 TWD 27.71 TWD 34.53 TWD 80
Rev-Margin DCF 13.41 TWD 16.11 TWD 19.28 TWD 74
Economic Profit
Residual Income 8.55 TWD 7.98 TWD 5.95 TWD 76
ROIC Compounder 5.44 TWD 5.76 TWD 6.03 TWD 72
Growth Earnings
Growth-Adj P/E 3.50 TWD 5.00 TWD 6.50 TWD 68

Widest divergence: DCF Models (19.35 TWD) versus Earnings-Based (4.13 TWD). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 850M TWD
Revenue growth (YoY) -25.9%
Net margin 3.2%
Return on equity 4.3%
Free cash flow 110M TWD FY2025
P/E ratio 64.8
More key figures
Operating margin 8.9%
EPS (TTM) 0.3100 TWD
Dividend yield 1.0%
EPS growth (YoY) +118%
Net cash 109M TWD FY2023

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

Quality Score breakdown

Overall quality 58/100

Of which business quality 60 · Market factors (momentum, volatility) 27

Profitability 34
Margins and returns on capital today
Quality Growth 35
Are margins and returns improving?
Cashflow 76
Earnings quality: real cash, not paper profit
Fin. Strength 87
Balance sheet, leverage, solvency risk
Investment 86
Disciplined investing over empire-building
Low Volatility 69
Calm price path (market factor)
Momentum 15
Price trend over the last 3–12 months (market factor)
52W Momentum 1
Distance to the 52-week high (market factor)
Net Issuance 42
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

E&E Recycling,Inc. engages in waste disposal, removal, and recycling business in Taiwan. The company treats waste household appliances, such as televisions, air-conditioners, refrigerators, washing machines, and fans; and waste information items, including host computers, monitors, liquid crystal displays, keyboards, printers, and laptops.

Full company description

E&E Recycling,Inc. engages in waste disposal, removal, and recycling business in Taiwan. The company treats waste household appliances, such as televisions, air-conditioners, refrigerators, washing machines, and fans; and waste information items, including host computers, monitors, liquid crystal displays, keyboards, printers, and laptops. It also sells various treatment equipment, such as waste household appliance treatment, and information items. E&E Recycling,Inc. was founded in 1998 and is headquartered in Taipei, Taiwan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

E&E Recycling,Inc. reported revenue of 913M TWD in FY2025 versus 868M TWD in FY2021, a compound +1.3%/yr. Reported net income was 15.4M TWD in FY2025, compounding −26.2%/yr from FY2021.

Growth Quality 64/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
913M TWD
Latest YoY
−6.1%
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.
+1.3%
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.
+5.3%
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.
+5.1%
Revenue +1.3%/yr
FY21 868M TWD
FY22 877M TWD
FY23 910M TWD
FY24 972M TWD
FY25 913M TWD
Net income −26.2%/yr
FY21 52.2M TWD
FY22 34.2M TWD
FY23 50.1M TWD
FY24 23.4M TWD
FY25 15.4M TWD

8440 screens 68% overvalued. Compare with Waste Management, Inc →

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Cite: Fair Value Calculator (2026). "E&E Recycling,Inc. Fair Value". https://www.fairvalue-calculator.com/stock/8440

Peer Group

Waste Management · 166 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 58 · Top 25%
Fair Value upside −68% · Bottom 25%
Return on equity (TTM) 4% · Below median
Return on assets 2% · Below median
Net margin (TTM) 3% · Below median
Operating margin (TTM) 9% · Above median
Revenue growth -26% · Bottom 25%
Dividend yield (TTM) 1.0% · Below median

Valuation Multiples vs Waste Management median · lower = cheaper

P/E (TTM) 64.8× · Pricier than 75% of peers
P/B 1.57× · Pricier than median
P/S (TTM) 1.19× · Pricier than median
P/FCF 0.3× · Cheaper than 75% of peers
EV/EBITDA 17.9× · 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 8
FUTURE 0 · sector 22
PAST 17 · sector 25
HEALTH 100 · sector 81
DIVIDEND 20 · sector 30

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

Stock Price Fair Value vs Fair Value
Waste Management, Inc WM $233.33 $128.02 -45%
Republic Services, Inc RSG $219.20 $122.01 -44%
Waste Connections, Inc WCN C$242.43 C$78.67 -68%
Veolia Environnement SA VIE €37.51 €24.50 -35%
Clean Harbors, Inc CLH $303.64 $155.37 -49%
GFL Environmental Inc GFL C$55.40 C$94.12 +70%
Fomento de Construcciones y Contratas, S.A FCC €12.20 €7.30 -40%
GEM Co 002340 ¥6.32 ¥5.27 -17%
Zhejiang Weiming Environment Protection Co 603568 ¥15.75 ¥20.95 +33%
Cleanaway Waste Management Limited CWY A$2.34 A$1.18 -50%

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Frequently asked questions

Is E&E Recycling,Inc. (8440) overvalued or undervalued?
As of Jul 22, 2026, our model estimates a fair value of 6.45 TWD versus a price of 19.85 TWD, about −68% (overvalued).
What is the fair value of 8440?
Our model-based fair value for E&E Recycling,Inc. is 6.45 TWD (as of Jul 22, 2026), built from audited fundamentals. The current price is 19.85 TWD.
What is the quality score of 8440?
E&E Recycling,Inc. has a Quality Score of 58/100. 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 E&E Recycling,Inc. (8440)?
E&E Recycling,Inc. reported trailing-twelve-month revenue of about 850M TWD (latest available figure, as of Jul 22, 2026).
What is the net profit margin of 8440?
The net profit margin of E&E Recycling,Inc. is about 3.2%, meaning it keeps roughly 3.2% of revenue as net income. Based on the latest reported figures.
Does E&E Recycling,Inc. pay a dividend?
E&E Recycling,Inc. currently shows a dividend yield of about 0.99% relative to its recent price (as of Jul 22, 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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