Nien Made Enterprise Co Ltd (8464) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Nien Made Enterprise Co Ltd TWD 410, price TWD 373, upside +10.0%, 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
60‑month range 227.46 TWD – 514.00 TWD · fair‑value band 281.83 TWD – 594.17 TWD · the 372.50 TWD price screens below the 409.75 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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Nien Made Enterprise Co., LTD. engages in the research, development, design, manufacture, and sale of various types of window coverings and related components in the United States, Europe, and internationally. The company operates through two segments, Window Coverings and Other.
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Nien Made Enterprise Co., LTD. engages in the research, development, design, manufacture, and sale of various types of window coverings and related components in the United States, Europe, and internationally. The company operates through two segments, Window Coverings and Other. It offers various types of blinds, shutters, shades, and related components; wood blinds and shutter semi-products; smart drape; cellular, roman, and roller shades; plastic blinds and accessories; and chair covers. The company also designs, manufactures, and sells automated appliances and PVC tubes. In addition, it engages in manufacturing and selling dehumidifiers and air purifiers; the provision of logistics support services and window coverings documentation processing services; and trading and servicing in window coverings. The company was formerly known as Huan Qiu Shi Jing Co., Ltd. and changed its name to Nien Made Enterprise Co., LTD. in March 2008. Nien Made Enterprise Co., LTD. was founded in 1974 and is headquartered in Taichung, Taiwan.
Stock analysis
Nien Made Enterprise Co Ltd (8464) currently trades at 372.50 TWD, while our model-based Fair Value estimate is 409.75 TWD, implying the stock looks roughly 9.1% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 431.84 TWD per share, and 12 of the 26 models we run sit above the 372.50 TWD price.
Bear case: the Asset-Based group reads lowest at 68.60 TWD, and 14 of the 26 models stay below the price. Evidence for this calculation is high.
Scenario range: 281.83 TWD (bear) to 594.17 TWD (bull), the price of 372.50 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 Cyclical sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Nien Made Enterprise Co Ltd reported revenue of 30.0B TWD in FY2025 versus 29.0B TWD in FY2021, a compound +0.8%/yr. Reported net income was 6.6B TWD in FY2025, compounding +5.5%/yr from FY2021.
Key figures
Market cap 115B TWD (≈ $3.6B) · P/E ratio 16.6 · P/S ratio 3.65 · EPS (TTM) 22.47 TWD · Dividend yield 4.3% · Net margin 22.0% · Return on equity 25.4% · Return on assets (EBIT) 23.8%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 53 out of 100 (low confidence).
What moves the price
The share trades about 17% below its 52-week high and 22% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at 1% fair-value upside, at 10%, 8464 screens cheaper than that median.
Fair Value models
Bear 281.83 TWDFair Value 409.75 TWDBull 594.17 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 (4.73 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.69/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+1.5%
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.
+1.2%
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.
+4.2%
Start year 2020 (pandemic). Over 10 years: +5.9% a year
Revenue growth 25 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.
+8.0%
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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.
+9.9%
Earnings growth per share plus dividend.
Earnings per share, growth per year+5.6%
Dividend (yield on the price)4.3%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.6% vs 8%, steady
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.27% → 30%
Start year 2020 (pandemic)
Growth Forecast
Price in line with expectations
The price assumes more growth than the company has delivered so far and about what analysts expect.
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).
+7.3%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+5.7%
Yearly sales growth analysts expect, extended to five years.
After inflation (Taiwan: IMF forecast 1.6% a year to 2030, 1.5% from 2016 to 2025) that is about +5.6% a year for the price and +4.0% for the forecasts.
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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.Furnishings, Fixtures & Appliances · 316 stocks
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Cite: Fair Value Calculator (2026). "Nien Made Enterprise Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/8464
Frequently asked questions
Is Nien Made Enterprise Co Ltd (8464) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 409.75 TWD versus a price of 372.50 TWD, about +10% upside (undervalued).
What is the fair value of 8464?
Our model-based fair value for Nien Made Enterprise Co Ltd is 409.75 TWD (as of Sep 24, 2026), built from audited fundamentals. The current price: 372.50 TWD.
What is the quality score of 8464?
Nien Made Enterprise 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 Nien Made Enterprise Co Ltd (8464)?
Our model-based price target is the fair value of 409.75 TWD (as of Sep 24, 2026) from 26 valuation models. Cautious scenario 281.83 TWD, optimistic scenario 594.17 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Nien Made Enterprise Co Ltd stock forecast for 2026?
Our models put fair value at 409.75 TWD, about +10% upside versus a price of 372.50 TWD (undervalued). Cautious scenario 281.83 TWD, optimistic scenario 594.17 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Nien Made Enterprise Co Ltd (8464)?
Nien Made Enterprise Co Ltd reported trailing-twelve-month revenue of about 30.0B TWD (latest available figure, as of Sep 24, 2026).
Does Nien Made Enterprise Co Ltd pay a dividend?
Nien Made Enterprise Co Ltd currently shows a dividend yield of about 4.30% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Nien Made Enterprise Co Ltd (8464)?
For today's price to be fair in a discounted-cash-flow model, Nien Made Enterprise Co Ltd would have to grow free cash flow by +7.3 % per year for five years (discount rate 9.6 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +4.2 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 8464 use?
Our models discount Nien Made Enterprise Co Ltd at 9.6 %: a base by market capitalisation (mid), damped by beta 0.72, 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 Nien Made Enterprise Co Ltd that is +7.3 % per year a year over ten years, using the same discount rate (9.6 %) and the same formula as our fair value.
How much growth has Nien Made Enterprise Co Ltd (8464) delivered so far?
Over the past 5 years revenue at Nien Made Enterprise Co Ltd grew +4.2 % a year. The price currently implies +7.3 % 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 Nien Made Enterprise Co Ltd (8464) growing?
The median revenue growth in the sector is +2.6 % a year. That is the yardstick for the growth priced into Nien Made Enterprise Co Ltd (+7.3 % 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 Nien Made Enterprise Co Ltd (8464)?
The free-cash-flow yield on the price is 4.78 %: that much free cash flow Nien Made Enterprise Co Ltd produces per unit of market value. When it exceeds the discount rate of our models (9.6 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Nien Made Enterprise Co Ltd (8464)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Nien Made Enterprise Co Ltd it is 409.75 TWD per share (as of Sep 24, 2026), against a price of 372.50 TWD. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is Nien Made Enterprise Co Ltd stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 8464 trades below its calculated fair value: price 372.50 TWD, fair value 409.75 TWD, a gap of about +10% (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 8464?
No. The price is what the market pays today (372.50 TWD); the fair value is what the company's own numbers justify (409.75 TWD). For Nien Made Enterprise Co Ltd the two are 37.25 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Nien Made Enterprise Co Ltd worth?
The market values Nien Made Enterprise Co Ltd at about 115B TWD (market capitalisation, as of Sep 24, 2026). Per share that is 372.50 TWD; our models calculate a fair value of 409.75 TWD per share.
What do the bullish and bearish scenarios say about 8464?
Our models span a range for Nien Made Enterprise Co Ltd: cautious scenario 281.83 TWD, base 409.75 TWD, optimistic 594.17 TWD per share (as of Sep 24, 2026, price 372.50 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 8464?
Nien Made Enterprise Co Ltd trades at a price-to-earnings ratio of 16.6 (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 409.75 TWD is built from several models across several years. Other multiples: P/B 3.8, P/S 3.8, EV/EBITDA 10.1.
How solid is the balance sheet of Nien Made Enterprise Co Ltd (8464)?
Balance-sheet figures for Nien Made Enterprise Co Ltd (as of Sep 24, 2026): return on equity 25.4%, debt of 0.02 per unit of equity. They feed the Quality Score of 68/100, which measures business quality independently of the share price.
How far is 8464 from its 52-week high?
Nien Made Enterprise Co Ltd trades at 372.50 TWD, about 17% below its 52-week high of 447.00 TWD and 22% above the low of 306.00 TWD (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 409.75 TWD is for.
Which stocks are comparable to Nien Made Enterprise Co Ltd?
From the same area (Consumer Cyclical) we also value Midea Group, Gree Electric Appliances, Inc, Haier Smart Home Co, King Slide Works Co, 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 Nien Made Enterprise Co Ltd stock attractive at the current price?
The data as of Sep 24, 2026: price 372.50 TWD, calculated fair value 409.75 TWD (+10%), 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 8464 calculated?
We run Nien Made Enterprise 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 409.75 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 14.1 % above its aggregate fair value. Nien Made Enterprise Co Ltd currently trades 10 % 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 Nien Made Enterprise Co Ltd (8464)?
The closing price on Sep 24, 2026 was 372.50 TWD. Our model-based fair value is 409.75 TWD, about +10% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Nien Made Enterprise Co Ltd right now?
A fairly wide model range (281.83 TWD to 594.17 TWD) leaves room in how you read the outcome. The price sits in the lower half of our model range, the side with the larger margin of safety. The data supports the verdict: every model runs on fully documented inputs.
Where does the earnings growth of Nien Made Enterprise Co Ltd (8464) come from?
Earnings per share at Nien Made Enterprise Co Ltd grew +8.5 % a year from 2014 to 2025. Broken into its drivers: revenue per share +5.2 %, EBIT margin +2.9 %, tax rate −0.6 %, residual (interest, one-offs) +0.9 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Nien Made Enterprise Co Ltd
How large is the market capitalisation of Nien Made Enterprise Co Ltd (8464)?
The market capitalisation of Nien Made Enterprise Co Ltd is 115B TWD (≈ $3.6B). 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 Nien Made Enterprise Co Ltd (8464)?
The price-to-sales ratio of Nien Made Enterprise Co Ltd is 3.65 (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 Nien Made Enterprise Co Ltd (8464)?
Earnings per share at Nien Made Enterprise Co Ltd are 22.47 TWD (price ÷ EPS = P/E 16.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Nien Made Enterprise Co Ltd (8464)?
The dividend yield of Nien Made Enterprise Co Ltd is 4.3% (payout 71.2%). 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 Nien Made Enterprise Co Ltd (8464)?
The net margin of Nien Made Enterprise Co Ltd is 22.0% (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 Nien Made Enterprise Co Ltd (8464)?
The return on equity (ROE) of Nien Made Enterprise Co Ltd is 25.4% (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 Nien Made Enterprise Co Ltd (8464)?
On an EBIT basis the return on assets of Nien Made Enterprise Co Ltd is 23.8% (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 Nien Made Enterprise Co Ltd (8464)?
The operating margin of Nien Made Enterprise Co Ltd is 28.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Nien Made Enterprise Co Ltd (8464)?
Revenue at Nien Made Enterprise Co Ltd is growing +0.4% versus a year earlier (3y avg +1.2%). 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 Nien Made Enterprise Co Ltd (8464)?
Earnings per share at Nien Made Enterprise Co Ltd are growing −7.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Nien Made Enterprise Co Ltd (8464) hold?
Nien Made Enterprise Co Ltd holds more cash than debt, 15.3B TWD net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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