Hsin Tai Gas Co Ltd (8917) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Hsin Tai Gas Co Ltd TWD 35.19, price TWD 55.00, upside -36.0%, quality 66 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Hsin Tai Gas Co., Ltd. engages in the sale of natural gas in Taiwan. It operates through Gas Sales, Installation, and Others segments. It also engages in the installation of gas supply equipment and pipelines; sale of gas meters; and leasing of office buildings. Hsin Tai Gas Co., Ltd. was incorporated in 1986 and is based in New Taipei City, Taiwan.
Stock analysis
Hsin Tai Gas Co Ltd (8917) currently trades at 55.00 TWD, while our model-based Fair Value estimate is 35.19 TWD, implying the stock looks roughly 56.3% overvalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of 37.97 TWD per share, and 0 of the 26 models we run sit above the 55.00 TWD price.
Bear case: the Asset-Based group reads lowest at 11.26 TWD, and 26 of the 26 models stay below the price. Evidence for this calculation is high.
Scenario range: 23.71 TWD (bear) to 48.06 TWD (bull), the price of 55.00 TWD sits above 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 66/100 (solid quality), in the Utilities sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Hsin Tai Gas Co Ltd reported revenue of 3.1B TWD in FY2025 versus 2.3B TWD in FY2021, a compound +7.7%/yr. Reported net income was 363M TWD in FY2025, compounding +2.7%/yr from FY2021.
Key figures
Market cap 8.9B TWD (≈ $281M) · P/E ratio 22.1 · P/S ratio 2.59 · EPS (TTM) 2.49 TWD · Dividend yield 3.8% · Net margin 11.7% · Return on equity 15.7% · Return on assets (EBIT) 7.8%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 52 out of 100 (low confidence).
What moves the price
The share trades about 17% below its 52-week high and 11% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Utilities peers we cover trades at −11% fair-value upside, at −36%, 8917 screens richer than that median.
Fair Value models
Bear 23.71 TWDFair Value 35.19 TWDBull 48.06 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 (0.2864 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.81/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+11.8%
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.
+6.9%
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.
+6.0%
Start year 2020 (pandemic)
Revenue growth 8 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.
+8.1%
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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.
+6.0%
Earnings growth per share plus dividend.
Earnings per share, growth per year+2.2%
Dividend (yield on the price)3.8%
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.17% → 14%
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far.
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).
+13.6%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Taiwan: IMF forecast 1.6% a year to 2030, 1.5% from 2016 to 2025) that is about +11.8% a year for the price.
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.Utilities - Regulated Gas · 107 stocks
Beats the industry median on 7/13 measures
A mixed picture versus its industry peers.
Valuation
Quality Score66 · Top 25%
Fair Value upside−36% · Bottom 25%
Profitability
Return on equity (TTM)16% · Top 25%
Return on assets4% · Above median
Net margin (TTM)14% · Top 25%
Operating margin (TTM)17% · Above median
Growth and dividend
Revenue growth−8% · Below median
Dividend yield (TTM)3.8% · Above median
Valuation Multiplesvs Utilities - Regulated Gas median · lower = cheaper
P/E (TTM)22.1× · Priciest 25%
P/B3.27× · Priciest 25%
P/S (TTM)2.97× · Priciest 25%
P/FCF0.7× · Cheaper than median
EV/EBITDA11.8× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 36
FUTURE (revenue growth)0· sector 0
PAST (return on equity)63· sector 35
HEALTH (low debt)0· sector 83
DIVIDEND (yield)76· sector 72
VALUE 0: the price sits above our fair-value range.
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). "Hsin Tai Gas Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/8917
Frequently asked questions
Is Hsin Tai Gas Co Ltd (8917) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 35.19 TWD versus a price of 55.00 TWD, about −36% upside (overvalued).
What is the fair value of 8917?
Our model-based fair value for Hsin Tai Gas Co Ltd is 35.19 TWD (as of Sep 24, 2026), built from audited fundamentals. The current price: 55.00 TWD.
What is the quality score of 8917?
Hsin Tai Gas Co Ltd has a Quality Score of 66/100. 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 Hsin Tai Gas Co Ltd (8917)?
Our model-based price target is the fair value of 35.19 TWD (as of Sep 24, 2026) from 26 valuation models. Cautious scenario 23.71 TWD, optimistic scenario 48.06 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Hsin Tai Gas Co Ltd stock forecast for 2026?
Our models put fair value at 35.19 TWD, about −36% upside versus a price of 55.00 TWD (overvalued). Cautious scenario 23.71 TWD, optimistic scenario 48.06 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Hsin Tai Gas Co Ltd (8917)?
Hsin Tai Gas Co Ltd reported trailing-twelve-month revenue of about 3.0B TWD (latest available figure, as of Sep 24, 2026).
Does Hsin Tai Gas Co Ltd pay a dividend?
Hsin Tai Gas Co Ltd currently shows a dividend yield of about 3.82% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Hsin Tai Gas Co Ltd (8917)?
For today's price to be fair in a discounted-cash-flow model, Hsin Tai Gas Co Ltd would have to grow free cash flow by +13.6 % per year for five years (discount rate 13.3 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +6.0 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 8917 use?
Our models discount Hsin Tai Gas Co Ltd at 13.3 %: a base by market capitalisation (micro), 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 Hsin Tai Gas Co Ltd that is +13.6 % per year a year over ten years, using the same discount rate (13.3 %) and the same formula as our fair value.
How much growth has Hsin Tai Gas Co Ltd (8917) delivered so far?
Over the past 5 years revenue at Hsin Tai Gas Co Ltd grew +6.0 % a year. The price currently implies +13.6 % 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 Hsin Tai Gas Co Ltd (8917) growing?
The median revenue growth in the sector is +0.7 % a year. That is the yardstick for the growth priced into Hsin Tai Gas Co Ltd (+13.6 % 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 Hsin Tai Gas Co Ltd (8917)?
The free-cash-flow yield on the price is 4.61 %: that much free cash flow Hsin Tai Gas Co Ltd produces per unit of market value. When it exceeds the discount rate of our models (13.3 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Hsin Tai Gas Co Ltd (8917)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Hsin Tai Gas Co Ltd it is 35.19 TWD per share (as of Sep 24, 2026), against a price of 55.00 TWD. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is Hsin Tai Gas Co Ltd stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 8917 trades above its calculated fair value: price 55.00 TWD, fair value 35.19 TWD, a gap of about −36% (overvalued). 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 8917?
No. The price is what the market pays today (55.00 TWD); the fair value is what the company's own numbers justify (35.19 TWD). For Hsin Tai Gas Co Ltd the two are 19.81 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Hsin Tai Gas Co Ltd worth?
The market values Hsin Tai Gas Co Ltd at about 8.9B TWD (market capitalisation, as of Sep 24, 2026). Per share that is 55.00 TWD; our models calculate a fair value of 35.19 TWD per share.
What do the bullish and bearish scenarios say about 8917?
Our models span a range for Hsin Tai Gas Co Ltd: cautious scenario 23.71 TWD, base 35.19 TWD, optimistic 48.06 TWD per share (as of Sep 24, 2026, price 55.00 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 8917?
Hsin Tai Gas Co Ltd trades at a price-to-earnings ratio of 22.1 (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 35.19 TWD is built from several models across several years. Other multiples: P/B 3.3, P/S 3.0, EV/EBITDA 11.8.
How solid is the balance sheet of Hsin Tai Gas Co Ltd (8917)?
Balance-sheet figures for Hsin Tai Gas Co Ltd (as of Sep 24, 2026): return on equity 15.7%. They feed the Quality Score of 66/100, which measures business quality independently of the share price.
How far is 8917 from its 52-week high?
Hsin Tai Gas Co Ltd trades at 55.00 TWD, about 17% below its 52-week high of 66.61 TWD and 11% above the low of 49.50 TWD (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 35.19 TWD is for.
Which stocks are comparable to Hsin Tai Gas Co Ltd?
From the same area (Utilities) we also value Naturgy Energy Group, Atmos Energy Corporation, NiSource Inc, Uniper SE, 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 Hsin Tai Gas Co Ltd stock attractive at the current price?
The data as of Sep 24, 2026: price 55.00 TWD, calculated fair value 35.19 TWD (−36%), Quality Score 66/100, 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 8917 calculated?
We run Hsin Tai Gas 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 35.19 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. Hsin Tai Gas Co Ltd itself currently trades above fair value. 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 Hsin Tai Gas Co Ltd (8917)?
The closing price on Sep 23, 2026 was 55.00 TWD. Our model-based fair value is 35.19 TWD, about −36% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Hsin Tai Gas Co Ltd right now?
The price sits above even our optimistic bull case (48.06 TWD). The favourable scenario is already priced in. Solid but not exceptional quality (66/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (23.71 TWD to 48.06 TWD) leaves room in how you read the outcome.
Key figures of Hsin Tai Gas Co Ltd
How large is the market capitalisation of Hsin Tai Gas Co Ltd (8917)?
The market capitalisation of Hsin Tai Gas Co Ltd is 8.9B TWD (≈ $281M). 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 Hsin Tai Gas Co Ltd (8917)?
The price-to-sales ratio of Hsin Tai Gas Co Ltd is 2.59 (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 Hsin Tai Gas Co Ltd (8917)?
Earnings per share at Hsin Tai Gas Co Ltd are 2.49 TWD (price ÷ EPS = P/E 22.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Hsin Tai Gas Co Ltd (8917)?
The dividend yield of Hsin Tai Gas Co Ltd is 3.8% (payout 84.3%). 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 Hsin Tai Gas Co Ltd (8917)?
The net margin of Hsin Tai Gas Co Ltd is 11.7% (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 Hsin Tai Gas Co Ltd (8917)?
The return on equity (ROE) of Hsin Tai Gas Co Ltd is 15.7% (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 Hsin Tai Gas Co Ltd (8917)?
On an EBIT basis the return on assets of Hsin Tai Gas Co Ltd is 7.8% (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 Hsin Tai Gas Co Ltd (8917)?
The operating margin of Hsin Tai Gas Co Ltd is 16.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Hsin Tai Gas Co Ltd (8917)?
Revenue at Hsin Tai Gas Co Ltd is growing −7.9% versus a year earlier (3y avg +6.9%). 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 Hsin Tai Gas Co Ltd (8917)?
Earnings per share at Hsin Tai Gas Co Ltd are growing +30.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Hsin Tai Gas Co Ltd (8917) hold?
Hsin Tai Gas Co Ltd holds more cash than debt, 536M TWD net (fiscal year 2023). The company holds more cash than debt, a safety cushion.
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