ShinHsiung Natural Gas Inc (8908) Fair Value & Analysis
Utilities · TW · Market cap 12.2B TWD
Fair value as of: Jul 23, 2026
From 15 valuation models · updated 18 days ago
Fair value updated Jul 23, 2026, revised from 33.20 TWD to 33.57 TWD (+1.1%) since Jul 12, 2026. Share price +1.9% over the past month.
Below-average quality, and screening another 16% overvalued on our models.
What matters now
- Solid but not exceptional quality (49/100) and above fair value, neither a clear bargain nor a standout compounder.
- A fairly wide model range (23.23 TWD to 43.91 TWD) leaves room in how you read the outcome.
Price vs Fair Value (5 years)
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 38.54 TWD – 75.86 TWD · fair‑value band 23.23 TWD – 43.91 TWD · the 39.90 TWD price screens above the 33.57 TWD fair value. Dashed = 300-day average. As of Jul 23, 2026.
Analysis
ShinHsiung Natural Gas Inc (8908) currently trades at 39.90 TWD, while our model-based Fair Value estimate is 33.57 TWD, implying the stock looks roughly 15.9% overvalued today. The Quality Score stands at 49/100 (below-average quality), in the Utilities 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: medium).
Over the trailing twelve months, ShinHsiung Natural Gas Inc generated revenue of 10.1B TWD at a net margin of 6.6%. Revenue declined 9.5% year over year. It earns a return on equity of 16.1%. Net debt stands at 2.4B TWD. Fundamentals as of Jul 23, 2026
Our scenario range runs from 23.23 TWD (bear case) to 43.91 TWD (bull case); at 39.90 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 20% below its 52-week high and 4% above its 52-week low, currently below its 200-day average. For context, the median of 10 Utilities peers we cover trades at -19% fair-value upside, at -16%, 8908 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.
All 15 models by family
Widest divergence: Multiples (37.25 TWD) versus Asset-Based (9.63 TWD). Highest evidence: Residual Income (76).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 23, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 48 · Market factors (momentum, volatility) 48
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
ShinHsiung Natural Gas Inc. supplies natural gas in Taiwan. The company operates through three segments: Gas Sale Department, Installation Department, and Solar Electricity Sale Department.
Full company description
ShinHsiung Natural Gas Inc. supplies natural gas in Taiwan. The company operates through three segments: Gas Sale Department, Installation Department, and Solar Electricity Sale Department. It engages in the gas transmission conduits and equipment business; sale of electricity generated by solar energy; equity holding activities; buying, selling, and renting of real estate; solar energy optoelectronics activity; real estate development, lease, and sale business; cogeneration industry; and providing energy technology services. The Company was formerly known as Shin Hsiung Petroleum Gas Co. Ltd. and changed its name to ShinHsiung Natural Gas Inc. in June 2004. The company was incorporated in 1986 and is based in Kaohsiung City, Taiwan.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
ShinHsiung Natural Gas Inc reported revenue of 10.4B TWD in FY2025 versus 6.5B TWD in FY2021, a compound +12.5%/yr. Reported net income was 679M TWD in FY2025, compounding +8.9%/yr from FY2021.
8908 screens 16% overvalued. Compare with Naturgy Energy Group →
Peer Group
Utilities - Regulated Gas · 104 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.
Valuation Multiples vs Utilities - Regulated Gas median · lower = cheaper
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.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Utilities - Regulated Gas stocks, each showing price versus our Fair Value estimate (as of Jul 23, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Naturgy Energy Group NTGY | €28.84 | €35.80 | +24% |
| Atmos Energy Corporation ATO | $177.68 | $85.67 | -52% |
| NiSource Inc NI | $47.07 | $28.59 | -39% |
| Uniper SE UN0 | €42.80 | €49.13 | +15% |
| The Hong Kong and China Gas Company 0003 | HK$7.03 | HK$5.08 | -28% |
| Italgas S.p.A IG | €9.98 | €8.11 | -19% |
| GAIL (India) Limited GAIL | ₹171.71 | ₹147.74 | -14% |
| Adani Total Gas Limited ATGL | ₹723.90 | ₹101.36 | -86% |
| ENN Natural Gas Co 600803 | ¥17.30 | ¥25.71 | +49% |
| UGI Corporation UGI | $35.84 | $27.13 | -24% |
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Frequently asked questions
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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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