Alexander Marine Co Ltd (8478) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Alexander Marine Co Ltd TWD 187, price TWD 140, upside +34.0%, quality 38 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Alexander Marine Co., Ltd. engages in the manufacture and sale of yachts in Taiwan, the United States, and Australia. It is also involved in the lease of real estate; sale of yacht repair parts; and provision of aftersales services. The company was incorporated in 1978 and is headquartered in Kaohsiung, Taiwan.
Stock analysis
Alexander Marine Co Ltd (8478) currently trades at 139.50 TWD, while our model-based Fair Value estimate is 186.94 TWD, implying the stock looks roughly 25.4% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 257.60 TWD per share, and 8 of the 17 models we run sit above the 139.50 TWD price.
Bear case: the Dividend Discount group reads lowest at 63.94 TWD, and 9 of the 17 models stay below the price. Evidence for this calculation is high.
Scenario range: 130.85 TWD (bear) to 243.04 TWD (bull), the price of 139.50 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 38/100 (below-average quality), in the Consumer Cyclical sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Alexander Marine Co Ltd reported revenue of 5.2B TWD in FY2025 versus 4.6B TWD in FY2021, a compound +3.5%/yr. Reported net income was 1.2B TWD in FY2025, compounding +9.9%/yr from FY2021.
Key figures
Market cap 13.7B TWD (≈ $430M) · P/E ratio 10.8 · P/S ratio 2.56 · EPS (TTM) 12.97 TWD · Dividend yield 4.7% · Net margin 23.8% · Return on equity 16.9% · Return on assets (EBIT) 13.7%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).
What moves the price
The share trades about 39% below its 52-week high and 1% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at 57% fair-value upside, at 34%, 8478 screens richer than that median.
Fair Value models
Bear 130.85 TWDFair Value 186.94 TWDBull 243.04 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.40/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+5.8%
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.
−2.0%
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.
+4.4%
Start year 2020 (pandemic). Over 10 years: +12.4% a year
Revenue growth 13 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.
+20.5%
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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.
+69.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year+64.9%
Dividend (yield on the price)4.7%
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.65% vs 14%, picking up
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.4% → 22%
Compare Alexander Marine Co Ltd with another stock
Price, fair value, quality and upside side by side.
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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.Recreational Vehicles · 40 stocks
Beats the industry median on 9/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score38 · Below median
Fair Value upside+34% · Above median
Profitability
Return on equity (TTM)17% · Top 25%
Return on assets6% · Top 25%
Net margin (TTM)27% · Top 25%
Operating margin (TTM)26% · Top 25%
Growth and dividend
Revenue growth51% · Top 25%
Dividend yield (TTM)4.7% · Above median
Balance sheet
Debt / equity0.40× · Above median
Valuation Multiplesvs Recreational Vehicles 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). "Alexander Marine Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/8478
Frequently asked questions
Is Alexander Marine Co Ltd (8478) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 186.94 TWD versus a price of 139.50 TWD, about +34% upside (undervalued).
What is the fair value of 8478?
Our model-based fair value for Alexander Marine Co Ltd is 186.94 TWD (as of Sep 24, 2026), built from audited fundamentals. The current price: 139.50 TWD.
What is the quality score of 8478?
Alexander Marine Co Ltd has a Quality Score of 38/100. 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 Alexander Marine Co Ltd (8478)?
Our model-based price target is the fair value of 186.94 TWD (as of Sep 24, 2026) from 17 valuation models. Cautious scenario 130.85 TWD, optimistic scenario 243.04 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Alexander Marine Co Ltd stock forecast for 2026?
Our models put fair value at 186.94 TWD, about +34% upside versus a price of 139.50 TWD (undervalued). Cautious scenario 130.85 TWD, optimistic scenario 243.04 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Alexander Marine Co Ltd (8478)?
Alexander Marine Co Ltd reported trailing-twelve-month revenue of about 5.7B TWD (latest available figure, as of Sep 24, 2026).
Does Alexander Marine Co Ltd pay a dividend?
Alexander Marine Co Ltd currently shows a dividend yield of about 4.66% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of Alexander Marine Co Ltd (8478)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Alexander Marine Co Ltd it is 186.94 TWD per share (as of Sep 24, 2026), against a price of 139.50 TWD. It is the blended result of 17 valuation models (cash flow, earnings, asset, dividend).
Is Alexander Marine Co Ltd stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 8478 trades below its calculated fair value: price 139.50 TWD, fair value 186.94 TWD, a gap of about +34% (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 8478?
No. The price is what the market pays today (139.50 TWD); the fair value is what the company's own numbers justify (186.94 TWD). For Alexander Marine Co Ltd the two are 47.44 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Alexander Marine Co Ltd worth?
The market values Alexander Marine Co Ltd at about 13.7B TWD (market capitalisation, as of Sep 24, 2026). Per share that is 139.50 TWD; our models calculate a fair value of 186.94 TWD per share.
What do the bullish and bearish scenarios say about 8478?
Our models span a range for Alexander Marine Co Ltd: cautious scenario 130.85 TWD, base 186.94 TWD, optimistic 243.04 TWD per share (as of Sep 24, 2026, price 139.50 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 8478?
Alexander Marine Co Ltd trades at a price-to-earnings ratio of 10.8 (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 186.94 TWD is built from several models across several years. Other multiples: P/B 1.5, P/S 2.4, EV/EBITDA 9.0.
How solid is the balance sheet of Alexander Marine Co Ltd (8478)?
Balance-sheet figures for Alexander Marine Co Ltd (as of Sep 24, 2026): return on equity 16.9%, debt of 0.40 per unit of equity. They feed the Quality Score of 38/100, which measures business quality independently of the share price.
How far is 8478 from its 52-week high?
Alexander Marine Co Ltd trades at 139.50 TWD, about 39% below its 52-week high of 230.50 TWD and 1% above the low of 138.00 TWD (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 186.94 TWD is for.
Which stocks are comparable to Alexander Marine Co Ltd?
From the same area (Consumer Cyclical) we also value Zhejiang Cfmoto Power Co, Brunswick Corporation, BRP Inc, Polaris Inc, 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 Alexander Marine Co Ltd stock attractive at the current price?
The data as of Sep 24, 2026: price 139.50 TWD, calculated fair value 186.94 TWD (+34%), Quality Score 38/100, from 17 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 8478 calculated?
We run Alexander Marine Co Ltd through 17 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 186.94 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 13.0 % above its aggregate fair value. Alexander Marine Co Ltd currently trades 34 % 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 Alexander Marine Co Ltd (8478)?
The closing price on Sep 24, 2026 was 139.50 TWD. Our model-based fair value is 186.94 TWD, about +34% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Alexander Marine Co Ltd right now?
The large discount to fair value meets weak quality (38/100). That raises the risk this is a value trap rather than a bargain. A fairly wide model range (130.85 TWD to 243.04 TWD) leaves room in how you read the outcome.
Where does the earnings growth of Alexander Marine Co Ltd (8478) come from?
Earnings per share at Alexander Marine Co Ltd grew +17.7 % a year from 2014 to 2025. Broken into its drivers: revenue per share +12.7 %, EBIT margin +7.7 %, tax rate −0.7 %, residual (interest, one-offs) −2.4 %. 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 Alexander Marine Co Ltd
How large is the market capitalisation of Alexander Marine Co Ltd (8478)?
The market capitalisation of Alexander Marine Co Ltd is 13.7B TWD (≈ $430M). 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 Alexander Marine Co Ltd (8478)?
The price-to-sales ratio of Alexander Marine Co Ltd is 2.56 (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 Alexander Marine Co Ltd (8478)?
Earnings per share at Alexander Marine Co Ltd are 12.97 TWD (price ÷ EPS = P/E 10.8). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Alexander Marine Co Ltd (8478)?
The dividend yield of Alexander Marine Co Ltd is 4.7% (payout 50.1%). 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 Alexander Marine Co Ltd (8478)?
The net margin of Alexander Marine Co Ltd is 23.8% (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 Alexander Marine Co Ltd (8478)?
The return on equity (ROE) of Alexander Marine Co Ltd is 16.9% (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 Alexander Marine Co Ltd (8478)?
On an EBIT basis the return on assets of Alexander Marine Co Ltd is 13.7% (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 Alexander Marine Co Ltd (8478)?
The operating margin of Alexander Marine Co Ltd is 25.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Alexander Marine Co Ltd (8478)?
Revenue at Alexander Marine Co Ltd is growing +51.1% versus a year earlier (3y avg −2.0%). 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 Alexander Marine Co Ltd (8478)?
Earnings per share at Alexander Marine Co Ltd are growing +489% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Alexander Marine Co Ltd (8478) generate?
The free cash flow of Alexander Marine Co Ltd is −157M TWD (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Alexander Marine Co Ltd (8478) carry?
The net debt of Alexander Marine Co Ltd is 3.5B TWD (fiscal year 2025). 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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