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Shen's Art Printing Co., Ltd. (8921) fair value: what the stock is really worth

As of Oct 12, 2026: fair value of Shen's Art Printing Co., Ltd. TWD 2.31, price TWD 17.15, upside -86.5%, quality 34 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? No
  3. Add to watchlist

Industrials · TW

SS Thin data Oct 3, 2026

Shen's Art Printing Co., Ltd.

8921 · TWO

Weakest SetupStrongly overvalued and low quality.

Low debt
1.6% dividend yield · Watch coverage
Fair value 2.31 TWD · Strongly overvalued (−86.5%)
Quality 34/100
Weak Growth (revenue 3y −1.1 %/yr in TWD)
Loss-making · -3.4% net margin (TTM)
Negative free cash flow
Trails peers (2/10)
Narrow moat 17/100
Thin data
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

31.15 TWD 12.29 TWD Fair Value 2.31 TWD Apr 2021 Oct 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 3, 2026.

How to read this chart

60‑month range 12.29 TWD – 31.15 TWD · fair‑value band 2.02 TWD – 2.66 TWD · the 17.15 TWD price screens above the 2.31 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Oct 3, 2026.

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Company profile

Shen's Art Printing Co., Ltd., together with its subsidiaries, manufactures, processes, and sells various printed materials in Taiwan and internationally.

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Shen's Art Printing Co., Ltd., together with its subsidiaries, manufactures, processes, and sells various printed materials in Taiwan and internationally. The company offers creative design services, such as event execution and promotion campaign planning, editing, and visual portion; various services for small quantity orders and large format printing services; and special printing services, such as 3D lenticular and dynamic printing, as well as pattern technology. It also provides cultural and commercial printing for magazines, books, commercial promotion materials, stationary packs, and posters and pamphlet products; and delicate packages and handbags. The company was founded in 1977 and is based in New Taipei City, Taiwan.

Stock analysis

Shen's Art Printing Co., Ltd. (8921) currently trades at 17.15 TWD, while our model-based Fair Value estimate is 2.31 TWD, 86.5% below the price, so the stock looks overvalued today.

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Valuation

Bull case: the Asset-Based group reads highest at a median of 14.84 TWD per share, and 0 of the 3 models we run sit above the 17.15 TWD price.

Bear case: the Dividend Discount group reads lowest at 2.19 TWD, and 3 of the 3 models stay below the price. Evidence for this calculation is low.

Scenario range: 2.02 TWD (bear) to 2.66 TWD (bull), the price of 17.15 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 34/100 (below-average quality), in the Industrials sector.

Weak Growth: Revenue growth is weak: less than 2 % a year.

Shen's Art Printing Co., Ltd. reported revenue of 633M TWD in FY2025 versus 523M TWD in FY2021, a compound +4.9%/yr. Reported net income was −5.3M TWD in FY2025.

Key figures

Market cap 799M TWD (≈ $25.0M) · P/S ratio 1.19 · EPS (TTM) −0.4700 TWD · Dividend yield 1.6% · Net margin −0.8% · Return on equity −3.9% · Return on assets (EBIT) −1.7% · Operating margin −13.1%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 38 out of 100 (medium confidence).

What moves the price

The share trades about 10% below its 52-week high and 5% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Industrials peers we cover trades at 1% fair-value upside, at −87%, 8921 screens richer than that median.

Fair Value models

Bear 2.02 TWD Fair Value 2.31 TWD Bull 2.66 TWD
Price 17.15 TWD · Upside -86.5%
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. 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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. 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.
Highest evidence
Gordon GGM 1.93 TWD 2.19 TWD 2.51 TWD 67
DDM Multi-Stage 1.93 TWD 2.48 TWD 3.16 TWD 65
NCAV (Graham) 11.07 TWD 14.84 TWD 22.14 TWD 54
All 3 models by family
Dividend Discount
Gordon GGM 1.93 TWD 2.19 TWD 2.51 TWD 67
DDM Multi-Stage 1.93 TWD 2.48 TWD 3.16 TWD 65
Asset-Based
NCAV (Graham) 11.07 TWD 14.84 TWD 22.14 TWD 54

Open the full fair value analysis →

Quality Score breakdown

Overall quality 34/100

Of which business quality 35 · Market factors (momentum, volatility) 51

Profitability 13
Margins and returns on capital today
Quality Growth 36
Are margins and returns improving?
Cashflow 9
Earnings quality: real cash, not paper profit
Fin. Strength 49
Balance sheet, leverage, solvency risk
Investment 38
Disciplined investing over empire-building
Low Volatility 89
Calm price path (market factor)
Momentum 37
Price trend over the last 3–12 months (market factor)
52W Momentum 31
Distance to the 52-week high (market factor)
Net Issuance 82
Share count: buybacks or dilution?

Open the full quality analysis →

Revenue & earnings trend

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. 2/100
Revenue growth is weak: less than 2 % a year.
Revenue growth 1 year
+0.0%
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.
−1.1%
Profit margin (trend) ⓘ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.
−0.1% (2021) → −5.8% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

8921 screens overvalued: fair value 87% below the price. Compare with Cintas Corporation →

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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.Specialty Business Services · 231 stocks

Beats the industry median on 2/9 measures
Overall it trails its industry peers.
Valuation
Quality Score 34 · Bottom 25%
Fair Value upside −86.5% · Bottom 25%
Profitability
Return on assets −2.2% · Bottom 25%
Net margin (TTM) −3.4% · Bottom 25%
Operating margin (TTM) −13.1% · Bottom 25%
Growth and dividend
Revenue growth 10.0% · Above median
Dividend yield (TTM) 1.6% · Below median
Balance sheet
Debt / equity 0.39× · Above median

Valuation Multiplesvs Specialty Business Services median · lower = cheaper

P/S (TTM) 0.04× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 41
FUTURE (revenue growth)50 · sector 31
PAST (return on equity)0 · sector 37
HEALTH (low debt)81 · sector 93
DIVIDEND (yield)31 · sector 50

VALUE 0: the price sits above our fair-value range.

Context: sector, industry, market

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

Similar stocks

10 more Specialty Business Services stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Wolters Kluwer N.V WKL €75.00 €98.05 +31% vs 8921
Copart, Inc CPRT $27.22 $31.02 +14% vs 8921
Global Payments Inc GPN $78.38 $88.43 +13% vs 8921
RB Global, Inc RBA C$116.74 C$128.41 +10% vs 8921
Brambles Limited BXB A$18.55 A$18.66 +1% vs 8921
Cintas Corporation CTAS $193.02 $188.06 −3% vs 8921
Rentokil Initial plc RTO $20.64 $19.63 −5% vs 8921
Thomson Reuters Corporation TRI $99.28 $70.79 −29% vs 8921
UL Solutions Inc ULS $69.99 $33.46 −52% vs 8921
Aramark ARMK $54.94 $23.06 −58% vs 8921

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Shen's Art Printing Co., Ltd. · Fair Value
2.31 TWD −87%Fair Value
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Cite: Fair Value Calculator (2026). "Shen's Art Printing Co., Ltd. Fair Value". https://www.fairvalue-calculator.com/stock/8921

Frequently asked questions

Is Shen's Art Printing Co., Ltd. (8921) overvalued or undervalued?
As of Oct 3, 2026, our model estimates a fair value of 2.31 TWD versus a price of 17.15 TWD, about −87% upside (overvalued).
What is the fair value of 8921?
Our model-based fair value for Shen's Art Printing Co., Ltd. is 2.31 TWD (as of Oct 3, 2026), built from audited fundamentals. The current price: 17.15 TWD.
What is the quality score of 8921?
Shen's Art Printing Co., Ltd. has a Quality Score of 34/100. 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 Shen's Art Printing Co., Ltd. (8921)?
Our model-based price target is the fair value of 2.31 TWD (as of Oct 3, 2026) from 3 valuation models. Cautious scenario 2.02 TWD, optimistic scenario 2.66 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Shen's Art Printing Co., Ltd. stock forecast for 2026?
Our models put fair value at 2.31 TWD, about −87% upside versus a price of 17.15 TWD (overvalued). Cautious scenario 2.02 TWD, optimistic scenario 2.66 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Shen's Art Printing Co., Ltd. (8921)?
Shen's Art Printing Co., Ltd. reported trailing-twelve-month revenue of about 646M TWD (latest available figure, as of Oct 3, 2026).
Does Shen's Art Printing Co., Ltd. pay a dividend?
Shen's Art Printing Co., Ltd. currently shows a dividend yield of about 1.55% relative to its recent price (as of Oct 3, 2026).
What is the intrinsic value of Shen's Art Printing Co., Ltd. (8921)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Shen's Art Printing Co., Ltd. it is 2.31 TWD per share (as of Oct 3, 2026), against a price of 17.15 TWD. It is the blended result of 3 valuation models (cash flow, earnings, asset, dividend).
Is Shen's Art Printing Co., Ltd. stock overvalued or undervalued in 2026?
As of Oct 3, 2026, 8921 trades above its calculated fair value: price 17.15 TWD, fair value 2.31 TWD, a gap of about −87% (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 8921?
No. The price is what the market pays today (17.15 TWD); the fair value is what the company's own numbers justify (2.31 TWD). For Shen's Art Printing Co., Ltd. the two are 14.84 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Shen's Art Printing Co., Ltd. worth?
The market values Shen's Art Printing Co., Ltd. at about 799M TWD (market capitalisation, as of Oct 3, 2026). Per share that is 17.15 TWD; our models calculate a fair value of 2.31 TWD per share.
What do the bullish and bearish scenarios say about 8921?
Our models span a range for Shen's Art Printing Co., Ltd.: cautious scenario 2.02 TWD, base 2.31 TWD, optimistic 2.66 TWD per share (as of Oct 3, 2026, price 17.15 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Shen's Art Printing Co., Ltd. (8921)?
Balance-sheet figures for Shen's Art Printing Co., Ltd. (as of Oct 3, 2026): return on equity −3.9%, debt of 0.39 per unit of equity. They feed the Quality Score of 34/100, which measures business quality independently of the share price.
How far is 8921 from its 52-week high?
Shen's Art Printing Co., Ltd. trades at 17.15 TWD, about 10% below its 52-week high of 19.12 TWD and 5% above the low of 16.30 TWD (as of Oct 12, 2026). Distance from the high says nothing about value: that is what the fair value of 2.31 TWD is for.
Which stocks are comparable to Shen's Art Printing Co., Ltd.?
From the same area (Industrials) we also value Cintas Corporation, Thomson Reuters Corporation, Copart, Inc, Global Payments 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 Shen's Art Printing Co., Ltd. stock attractive at the current price?
The data as of Oct 3, 2026: price 17.15 TWD, calculated fair value 2.31 TWD (−87%), Quality Score 34/100, from 3 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 8921 calculated?
We run Shen's Art Printing Co., Ltd. through 3 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 2.31 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 14.9 % above its aggregate fair value. Shen's Art Printing 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 Shen's Art Printing Co., Ltd. (8921)?
The closing price on Oct 12, 2026 was 17.15 TWD. Our model-based fair value is 2.31 TWD, about −87% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Shen's Art Printing Co., Ltd. right now?
The price sits above even our optimistic bull case (2.66 TWD). The favourable scenario is already priced in. Weak quality (34/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.

Key figures of Shen's Art Printing Co., Ltd.

How large is the market capitalisation of Shen's Art Printing Co., Ltd. (8921)?
The market capitalisation of Shen's Art Printing Co., Ltd. is 799M TWD (≈ $25.0M). 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 Shen's Art Printing Co., Ltd. (8921)?
The price-to-sales ratio of Shen's Art Printing Co., Ltd. is 1.19 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Shen's Art Printing Co., Ltd. (8921)?
Earnings per share at Shen's Art Printing Co., Ltd. are −0.4700 TWD. Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Shen's Art Printing Co., Ltd. (8921)?
The dividend yield of Shen's Art Printing Co., Ltd. is 1.6%. 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 Shen's Art Printing Co., Ltd. (8921)?
The net margin of Shen's Art Printing Co., Ltd. is −0.8% (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 Shen's Art Printing Co., Ltd. (8921)?
The return on equity (ROE) of Shen's Art Printing Co., Ltd. is −3.9% (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 Shen's Art Printing Co., Ltd. (8921)?
On an EBIT basis the return on assets of Shen's Art Printing Co., Ltd. is −1.7% (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 Shen's Art Printing Co., Ltd. (8921)?
The operating margin of Shen's Art Printing Co., Ltd. is −13.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Shen's Art Printing Co., Ltd. (8921)?
Revenue at Shen's Art Printing Co., Ltd. is growing +10.0% versus a year earlier (3y avg −1.1%). 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 Shen's Art Printing Co., Ltd. (8921)?
Earnings per share at Shen's Art Printing Co., Ltd. are growing +13.1% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Shen's Art Printing Co., Ltd. (8921) generate?
The free cash flow of Shen's Art Printing Co., Ltd. is −428M 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 Shen's Art Printing Co., Ltd. (8921) carry?
The net debt of Shen's Art Printing Co., Ltd. is 249M 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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