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Dynamic Precision Industry Corporation (8928) Fair Value & Analysis

Consumer Cyclical · TW · Market cap 1.2B TWD

DP Dynamic Precision Industry Corporation 8928 · TWO
Price23.45 TWD
Fair Value24.08 TWD
Upside+2.7%
Quality49/100
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Expensive Growth
Thin margins · 0.9% net margin
Moderate debt · negative free cash flow
3.49% dividend yield
Trails peers (5/13)
Narrow moat 25/100
Evidence: High Range 18.06 TWD – 30.10 TWD Share as image

Fair value as of: Jul 22, 2026

From 16 valuation models · updated 19 days ago

Share price +0.4% over the past month.

Below-average quality, currently priced close to our fair value.

What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • Our model range runs from 18.06 TWD (bear) to 30.10 TWD (bull), base 24.08 TWD. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 49/100 (below-average quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

41.13 TWD 20.65 TWD Fair Value 24.08 TWD Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 22, 2026.

How to read this chart

60‑month range 20.65 TWD – 41.13 TWD · fair‑value band 18.06 TWD – 30.10 TWD · the 23.45 TWD price screens below the 24.08 TWD fair value. Dashed = 300-day average. As of Jul 22, 2026.

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Analysis

Dynamic Precision Industry Corporation (8928) currently trades at 23.45 TWD, while our model-based Fair Value estimate is 24.08 TWD, implying the stock looks roughly 2.7% fairly valued today. The Quality Score stands at 49/100 (below-average quality), in the Consumer Cyclical 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, Dynamic Precision Industry Corporation generated revenue of 3.1B TWD at a net margin of 0.9%. Revenue declined 27.3% year over year. It earns a return on equity of 2.7%. Net debt stands at 1.5B TWD. Fundamentals as of Jul 22, 2026

Our scenario range runs from 18.06 TWD (bear case) to 30.10 TWD (bull case); at 23.45 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 16% below its 52-week high and 15% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at 2% fair-value upside, at 3%, 8928 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
Residual Income 16.40 TWD 16.96 TWD 16.77 TWD 76
ROIC Compounder 9.73 TWD 12.11 TWD 14.09 TWD 72
Gordon GGM 13.21 TWD 23.80 TWD 32.76 TWD 70
All 16 models by family
Earnings-Based
Graham-Dodd 9.63 TWD 25.99 TWD 34.03 TWD 54
Lynch FV 5.09 TWD 7.27 TWD 9.45 TWD 50
PEG = 1.0 5.09 TWD 7.27 TWD 9.45 TWD 46
EPV 9.73 TWD 12.11 TWD 14.09 TWD 59
Dividend Discount
Gordon GGM 13.21 TWD 23.80 TWD 32.76 TWD 70
DDM Multi-Stage 13.21 TWD 19.39 TWD 25.08 TWD 61
Multiples
P/E Multiple 23.37 TWD 31.17 TWD 38.96 TWD 63
P/S Multiple 18.06 TWD 24.08 TWD 30.10 TWD 58
P/B Multiple 18.06 TWD 24.08 TWD 30.10 TWD 55
EV/EBIT 24.99 TWD 35.89 TWD 46.79 TWD 53
EV/EBITDA 33.75 TWD 47.56 TWD 61.38 TWD 54
EV/Revenue 14.34 TWD 23.78 TWD 33.23 TWD 43
Asset-Based
NCAV (Graham) 10.73 TWD 14.38 TWD 21.46 TWD 50
Economic Profit
Residual Income 16.40 TWD 16.96 TWD 16.77 TWD 76
ROIC Compounder 9.73 TWD 12.11 TWD 14.09 TWD 72
Growth Earnings
Growth-Adj P/E 18.36 TWD 26.24 TWD 34.11 TWD 68

Widest divergence: Growth Earnings (26.24 TWD) versus Earnings-Based (7.27 TWD). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 3.1B TWD
Revenue growth (YoY) -27.3%
Net margin 0.9%
Return on equity 2.7%
Free cash flow −9.1M TWD FY2025
P/E ratio 15.0
More key figures
Operating margin 0.1%
EPS (TTM) 1.41 TWD
Dividend yield 3.9%
EPS growth (YoY) -55.6%
Net debt 1.5B TWD FY2025

Figures from reported company fundamentals · as of Jul 22, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 49/100

Of which business quality 47 · Market factors (momentum, volatility) 49

Profitability 34
Margins and returns on capital today
Quality Growth 38
Are margins and returns improving?
Cashflow 36
Earnings quality: real cash, not paper profit
Fin. Strength 26
Balance sheet, leverage, solvency risk
Investment 93
Disciplined investing over empire-building
Low Volatility 92
Calm price path (market factor)
Momentum 31
Price trend over the last 3–12 months (market factor)
52W Momentum 29
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

Dynamic Precision Industry Corporation manufactures and sells golf equipment worldwide. The company offers wood row golf, iron golf, putter golf, and fairway golf equipment. It also provides golf hardware casting equipment. The company was formerly known as DYNAMIC Precision Industry Manufacturing Company, Ltd.

Full company description

Dynamic Precision Industry Corporation manufactures and sells golf equipment worldwide. The company offers wood row golf, iron golf, putter golf, and fairway golf equipment. It also provides golf hardware casting equipment. The company was formerly known as DYNAMIC Precision Industry Manufacturing Company, Ltd. and changed its name to Dynamic Precision Industry Corporation in January 2000. Dynamic Precision Industry Corporation was founded in 1973 and is based in Kaohsiung, Taiwan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Dynamic Precision Industry Corporation reported revenue of 3.4B TWD in FY2025 versus 3.1B TWD in FY2021, a compound +2.6%/yr. Reported net income was 72.0M TWD in FY2025, compounding −25.9%/yr from FY2021.

Growth Quality 46/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
3.4B TWD
Latest YoY
+8.0%
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.
+0.2%
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.
+8.9%
Avg. growth/yr (23Y) 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.
+3.9%
Revenue +2.6%/yr
FY21 3.1B TWD
FY22 3.4B TWD
FY23 2.6B TWD
FY24 3.2B TWD
FY25 3.4B TWD
Net income −25.9%/yr
FY21 239M TWD
FY22 286M TWD
FY23 −36.3M TWD
FY24 140M TWD
FY25 72.0M TWD

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Cite: Fair Value Calculator (2026). "Dynamic Precision Industry Corporation Fair Value". https://www.fairvalue-calculator.com/stock/8928

Peer Group

Leisure · 190 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 49 · Below median
Fair Value upside +3% · Above median
Return on equity (TTM) 3% · Below median
Return on assets 0% · Below median
Net margin (TTM) 1% · Below median
Operating margin (TTM) 0% · Below median
Revenue growth -27% · Bottom 25%
Dividend yield (TTM) 3.5% · Above median
Debt / equity 0.54× · Higher than 75% of peers

Valuation Multiples vs Leisure median · lower = cheaper

P/E (TTM) 16.5× · Cheaper than median
P/B 1.09× · Cheaper than median
P/S (TTM) 0.38× · Cheaper than median
EV/EBITDA 12.7× · 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 37 · sector 14
FUTURE 0 · sector 18
PAST 11 · sector 19
HEALTH 73 · sector 94
DIVIDEND 70 · sector 51

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 Leisure stocks, each showing price versus our Fair Value estimate (as of Jul 22, 2026).

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Pop Mart International Group 9992 HK$160.20 HK$227.30 +42%
Amer Sports, Inc AS $36.44 $16.16 -56%
Hasbro, Inc HAS $81.55 $83.38 +2%
Life Time Group LTH $42.15 $16.15 -62%
Acushnet Holdings GOLF $114.78 $37.79 -67%
Li Ning Company 2331 HK$14.80 HK$29.26 +98%
Benefit Systems S.A BFT 5,255 PLN 3,714 PLN -29%
Ninebot Limited 689009 ¥37.82 ¥39.17 +4%
Asmodee Group ASMDEEB kr 145.70 kr 41.90 -71%

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Frequently asked questions

Is Dynamic Precision Industry Corporation (8928) overvalued or undervalued?
As of Jul 22, 2026, our model estimates a fair value of 24.08 TWD versus a price of 23.45 TWD, about +3% (fairly valued).
What is the fair value of 8928?
Our model-based fair value for Dynamic Precision Industry Corporation is 24.08 TWD (as of Jul 22, 2026), built from audited fundamentals. The current price is 23.45 TWD.
What is the quality score of 8928?
Dynamic Precision Industry Corporation has a Quality Score of 49/100. 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 Dynamic Precision Industry Corporation (8928)?
Dynamic Precision Industry Corporation reported trailing-twelve-month revenue of about 3.1B TWD (latest available figure, as of Jul 22, 2026).
What is the net profit margin of 8928?
The net profit margin of Dynamic Precision Industry Corporation is about 0.9%, meaning it keeps roughly 0.9% of revenue as net income. Based on the latest reported figures.
Does Dynamic Precision Industry Corporation pay a dividend?
Dynamic Precision Industry Corporation currently shows a dividend yield of about 3.86% relative to its recent price (as of Jul 22, 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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