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Transart Graphics Co (8481) Fair Value & Analysis

Industrials · TW · Market cap 2.7B TWD

TG Transart Graphics Co 8481 · TW
Price40.40 TWD
Fair Value64.40 TWD
Upside+59.4%
Quality80/100
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Weak Growth
Solidly profitable · 17.6% net margin
Low debt · generates free cash flow
6.84% dividend yield
Ranks above peers (11/14)
Wide moat 65/100
Evidence: High Range 48.31 TWD – 78.94 TWD Share as image

Fair value as of: Jul 23, 2026

From 24 valuation models · updated 18 days ago

Share price +2.5% over the past month.

A strong business, screening 59% undervalued on our models.

What matters now

  • The rarer combination: high quality (80/100) AND below fair value. That earns a closer look rather than a quick verdict.
  • The price is below even our cautious bear case (48.31 TWD). The market is more pessimistic than our downside scenario.
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Price vs Fair Value (5 years)

60.05 TWD 35.86 TWD Fair Value 64.40 TWD Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 23, 2026.

How to read this chart

60‑month range 35.86 TWD – 60.05 TWD · fair‑value band 48.31 TWD – 78.94 TWD · the 40.40 TWD price screens below the 64.40 TWD fair value. Dashed = 300-day average. As of Jul 23, 2026.

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Analysis

Transart Graphics Co (8481) currently trades at 40.40 TWD, while our model-based Fair Value estimate is 64.40 TWD, implying the stock looks roughly 59.4% undervalued today. The Quality Score stands at 80/100 (high quality), in the Industrials 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: high), always confirm before acting.

Over the trailing twelve months, Transart Graphics Co generated revenue of 1.2B TWD at a net margin of 17.6%. Revenue declined 8.4% year over year. It earns a return on equity of 12.5%. The balance sheet holds a net cash position of 418M TWD. Fundamentals as of Jul 23, 2026

Our scenario range runs from 48.31 TWD (bear case) to 78.94 TWD (bull case); at 40.40 TWD, the current price sits below 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 16% below its 52-week high and 2% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -35% fair-value upside, at 59%, 8481 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
Growth DCF 48.18 TWD 60.99 TWD 83.32 TWD 80
Residual Income 24.27 TWD 27.97 TWD 44.06 TWD 76
Rev-Margin DCF 34.74 TWD 45.27 TWD 58.98 TWD 74
All 24 models by family
DCF Models
FCF DCF 46.75 TWD 59.95 TWD 85.03 TWD 38
Owner Earnings 40.46 TWD 51.60 TWD 72.77 TWD 31
5Y Revenue Exit 34.74 TWD 44.45 TWD 58.83 TWD 39
5Y EBITDA Exit 45.11 TWD 62.08 TWD 84.93 TWD 41
5Y P/E Exit 49.09 TWD 68.84 TWD 92.78 TWD 38
10Y Revenue Exit 38.61 TWD 47.67 TWD 57.66 TWD 36
10Y EBITDA Exit 45.43 TWD 59.05 TWD 74.32 TWD 37
10Y P/E Exit 47.82 TWD 63.41 TWD 79.33 TWD 35
Earnings-Based
Graham-Dodd 22.08 TWD 37.09 TWD 45.13 TWD 54
EPV 34.64 TWD 39.09 TWD 42.94 TWD 59
Dividend Discount
Gordon GGM 22.40 TWD 27.53 TWD 32.81 TWD 70
DDM Multi-Stage 22.40 TWD 29.60 TWD 38.17 TWD 61
Multiples
P/E Multiple 51.15 TWD 68.20 TWD 85.25 TWD 63
P/S Multiple 26.56 TWD 35.41 TWD 44.27 TWD 58
P/B Multiple 41.41 TWD 55.21 TWD 69.01 TWD 55
EV/EBIT 53.09 TWD 68.64 TWD 84.20 TWD 53
EV/EBITDA 50.02 TWD 64.56 TWD 79.09 TWD 54
EV/Revenue 28.74 TWD 38.30 TWD 47.86 TWD 43
Asset-Based
NCAV (Graham) 13.09 TWD 17.54 TWD 26.18 TWD 50
Growth DCF
Growth DCF 48.18 TWD 60.99 TWD 83.32 TWD 80
Rev-Margin DCF 34.74 TWD 45.27 TWD 58.98 TWD 74
Economic Profit
Residual Income 24.27 TWD 27.97 TWD 44.06 TWD 76
ROIC Compounder 35.03 TWD 40.25 TWD 45.96 TWD 72
Growth Earnings
Growth-Adj P/E 36.12 TWD 51.60 TWD 67.08 TWD 68

Widest divergence: DCF Models (59.05 TWD) versus Asset-Based (17.54 TWD). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 1.2B TWD
Revenue growth (YoY) -8.4%
Net margin 17.6%
Return on equity 12.5%
Free cash flow 280M TWD FY2025
P/E ratio 12.9
More key figures
Operating margin 19.1%
EPS (TTM) 3.24 TWD
Dividend yield 6.6%
EPS growth (YoY) -20.8%
Net cash 418M TWD FY2025

Figures from reported company fundamentals · as of Jul 23, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 80/100

Of which business quality 77 · Market factors (momentum, volatility) 57

Profitability 57
Margins and returns on capital today
Quality Growth 49
Are margins and returns improving?
Cashflow 85
Earnings quality: real cash, not paper profit
Fin. Strength 95
Balance sheet, leverage, solvency risk
Investment 98
Disciplined investing over empire-building
Low Volatility 100
Calm price path (market factor)
Momentum 40
Price trend over the last 3–12 months (market factor)
52W Momentum 39
Distance to the 52-week high (market factor)
Net Issuance 83
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

Transart Graphics Co., Ltd., together with its subsidiaries, manufacture, process, sell, and import and export various labeled products for bicycles and various industrial products in China, Taiwan, Vietnam, the United States, Singapore, and internationally.

Full company description

Transart Graphics Co., Ltd., together with its subsidiaries, manufacture, process, sell, and import and export various labeled products for bicycles and various industrial products in China, Taiwan, Vietnam, the United States, Singapore, and internationally. The company offers light pattern transfer, frost reflective decal, hologram irised decal, and titanium flash; water transfer, nonpaint water transfer, and color msking decals; self-adhesive and heat-resistant clear sticker, and hologram decals; and heat transfer decal serial. It also provides other products, including nameplates and graphic overlays, dry rub-on transfer, and brushed metal-line nameplates. Transart Graphics Co., Ltd. was founded in 1973 and is headquartered in Taichung, Taiwan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Transart Graphics Co reported revenue of 1.2B TWD in FY2025 versus 1.6B TWD in FY2021, a compound −6.8%/yr. Reported net income was 216M TWD in FY2025, compounding −14.6%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
1.2B TWD
Latest YoY
+4.9%
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.
−6.8%
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.
−3.0%
Avg. growth/yr (13Y) 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.
−0.4%
Revenue −6.8%/yr
FY21 1.6B TWD
FY22 1.5B TWD
FY23 994M TWD
FY24 1.1B TWD
FY25 1.2B TWD
Net income −14.6%/yr
FY21 406M TWD
FY22 295M TWD
FY23 125M TWD
FY24 201M TWD
FY25 216M TWD
Character of growth · EPS growth decomposed (2014-2025) −3.4 % p.a.
Revenue per share −2.0 pp

of which total revenue −1.0 pp · buybacks/dilution −1.0 pp

EBIT margin −2.7 pp
Tax rate +0.1 pp
Residual (interest, one-offs) +1.2 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

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Cite: Fair Value Calculator (2026). "Transart Graphics Co Fair Value". https://www.fairvalue-calculator.com/stock/8481

Peer Group

Specialty Business Services · 253 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 80 · Top 25%
Fair Value upside +59% · Top 25%
Return on equity (TTM) 12% · Above median
Return on assets 7% · Top 25%
Net margin (TTM) 18% · Top 25%
Operating margin (TTM) 19% · Top 25%
Revenue growth -8% · Bottom 25%
Dividend yield (TTM) 6.8% · Top 25%

Valuation Multiples vs Specialty Business Services median · lower = cheaper

P/E (TTM) 12.4× · Cheaper than median
P/B 1.54× · Cheaper than median
P/S (TTM) 2.32× · Pricier than 75% of peers
P/FCF 0.3× · Cheaper than 75% of peers
EV/EBITDA 8.4× · Pricier than median

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 24
FUTURE 0 · sector 27
PAST 50 · sector 33
HEALTH 100 · sector 92
DIVIDEND 100 · sector 54

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 Business Services stocks, each showing price versus our Fair Value estimate (as of Jul 23, 2026).

Stock Price Fair Value vs Fair Value
Cintas Corporation CTAS $206.25 $95.30 -54%
RELX PLC RELX $33.70 $32.49 -4%
Thomson Reuters Corporation TRI C$133.87 C$70.40 -47%
Copart, Inc CPRT $27.61 $28.59 +4%
Global Payments Inc GPN $80.49 $69.67 -13%
RB Global, Inc RBA C$156.43 C$49.14 -69%
Brambles Limited BXB A$18.79 A$12.28 -35%
UL Solutions Inc ULS $87.76 $33.62 -62%
Wolters Kluwer N.V WKL €62.56 €103.99 +66%
Aramark ARMK $56.74 $13.73 -76%

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Frequently asked questions

Is Transart Graphics Co (8481) overvalued or undervalued?
As of Jul 23, 2026, our model estimates a fair value of 64.40 TWD versus a price of 40.40 TWD, about +59% (undervalued).
What is the fair value of 8481?
Our model-based fair value for Transart Graphics Co is 64.40 TWD (as of Jul 23, 2026), built from audited fundamentals. The current price is 40.40 TWD.
What is the quality score of 8481?
Transart Graphics Co has a Quality Score of 80/100. 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 Transart Graphics Co (8481)?
Transart Graphics Co reported trailing-twelve-month revenue of about 1.2B TWD (latest available figure, as of Jul 23, 2026).
What is the net profit margin of 8481?
The net profit margin of Transart Graphics Co is about 17.6%, meaning it keeps roughly 17.6% of revenue as net income. Based on the latest reported figures.
Does Transart Graphics Co pay a dividend?
Transart Graphics Co currently shows a dividend yield of about 6.64% relative to its recent price (as of Jul 23, 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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