Kuo Toong International Co Ltd (8936) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Kuo Toong International Co Ltd TWD 51.71, price TWD 52.10, upside -0.8%, quality 60 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Kuo Toong International Co., Ltd. engages in the design, production, and assembly of water supply and division pipes in Taiwan and internationally.
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Kuo Toong International Co., Ltd. engages in the design, production, and assembly of water supply and division pipes in Taiwan and internationally. The company offers prestressed concrete and cylinder pipes, straight and propelling steel pipes, ductile iron pipes and accessories, water collecting pipes, PCCP, steel pipe by jacking method WSP, DI flexible pipe joints, connecting closures, cement products and spare parts; and assembles and embeds various water pipes and spare parts; as well as manufactures precision and other chemical materials. It also provides mechanical installation, sewage process, pipeline construction, and other environmental sanitation and pollution prevention services, as well as housing and building materials, machinery, and hardware. In addition, the company is involved in the manufacturing of metal structure, architectural decoration and plumbing pipe parts, fittings and precision casting products, and various pipes fittings. Further, it engages in the business of tap-water, construction, dredging and sand, silt and discarding in the sea, waste treatment, seawater desalination, auto control equipment construction, solar, battery module, construction item and designs, and research and development, international trading, wholesale and retail, as well as investment activities. Kuo Toong International Co., Ltd. was incorporated in 1978 and is based in Kaohsiung, Taiwan.
Stock analysis
Kuo Toong International Co Ltd (8936) currently trades at 52.10 TWD, while our model-based Fair Value estimate is 51.71 TWD, implying the stock looks roughly 0.8% fairly valued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 78.48 TWD per share, and 9 of the 26 models we run sit above the 52.10 TWD price.
Bear case: the Growth DCF group reads lowest at 6.66 TWD, and 17 of the 26 models stay below the price. Evidence for this calculation is high.
Scenario range: 26.19 TWD (bear) to 88.89 TWD (bull), the price of 52.10 TWD sits inside 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 60/100 (solid quality), in the Industrials sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Kuo Toong International Co Ltd reported revenue of 6.3B TWD in FY2025 versus 4.6B TWD in FY2021, a compound +8.1%/yr. Reported net income was 1.0B TWD in FY2025, compounding +32.7%/yr from FY2021.
Key figures
Market cap 12.9B TWD (≈ $406M) · P/E ratio 12.8 · P/S ratio 2.06 · EPS (TTM) 4.06 TWD · Dividend yield 5.8% · Net margin 16.0% · Return on equity 13.5% · Return on assets (EBIT) 8.4%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 52 out of 100 (medium confidence).
What moves the price
The share trades about 25% below its 52-week high and 7% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −20% fair-value upside, at −1%, 8936 screens cheaper than that median.
Fair Value models
Bear 26.19 TWDFair Value 51.71 TWDBull 88.89 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 (0.7783 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.62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+20.3%
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.
+18.5%
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.
+11.2%
Start year 2020 (pandemic). Over 10 years: +4.1% a year
Revenue growth 19 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.
+11.2%
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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. Basis: EBIT basis. 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.
+31.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year+26.0%
Dividend (yield on the price)5.8%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.38% vs 7%, picking up
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.9% → 22%
Start year 2020 (pandemic)
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).
+40.7%
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 +38.5% a year for the price.
Compare Kuo Toong International Co Ltd with another stock
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.Building Products & Equipment · 253 stocks
Beats the industry median on 11/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score60 · Above median
Fair Value upside−1% · Above median
Profitability
Return on equity (TTM)13% · Top 25%
Return on assets7% · Top 25%
Net margin (TTM)16% · Top 25%
Operating margin (TTM)19% · Top 25%
Growth and dividend
Revenue growth27% · Top 25%
Dividend yield (TTM)5.8% · Top 25%
Balance sheet
Debt / equity0.32× · Above median
Valuation Multiplesvs Building Products & Equipment median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Kuo Toong International Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/8936
Frequently asked questions
Is Kuo Toong International Co Ltd (8936) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 51.71 TWD versus a price of 52.10 TWD, about −1% upside (fairly valued).
What is the fair value of 8936?
Our model-based fair value for Kuo Toong International Co Ltd is 51.71 TWD (as of Sep 24, 2026), built from audited fundamentals. The current price: 52.10 TWD.
What is the quality score of 8936?
Kuo Toong International Co Ltd has a Quality Score of 60/100. 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 Kuo Toong International Co Ltd (8936)?
Our model-based price target is the fair value of 51.71 TWD (as of Sep 24, 2026) from 26 valuation models. Cautious scenario 26.19 TWD, optimistic scenario 88.89 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Kuo Toong International Co Ltd stock forecast for 2026?
Our models put fair value at 51.71 TWD, about −1% upside versus a price of 52.10 TWD (fairly valued). Cautious scenario 26.19 TWD, optimistic scenario 88.89 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Kuo Toong International Co Ltd (8936)?
Kuo Toong International Co Ltd reported trailing-twelve-month revenue of about 6.7B TWD (latest available figure, as of Sep 24, 2026).
Does Kuo Toong International Co Ltd pay a dividend?
Kuo Toong International Co Ltd currently shows a dividend yield of about 5.76% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Kuo Toong International Co Ltd (8936)?
For today's price to be fair in a discounted-cash-flow model, Kuo Toong International Co Ltd would have to grow free cash flow by +40.7 % per year for five years (discount rate 10.3 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +11.2 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 8936 use?
Our models discount Kuo Toong International Co Ltd at 10.3 %: a base by market capitalisation (small), damped by beta 0.40, 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 Kuo Toong International Co Ltd that is +40.7 % per year a year over ten years, using the same discount rate (10.3 %) and the same formula as our fair value.
How much growth has Kuo Toong International Co Ltd (8936) delivered so far?
Over the past 5 years revenue at Kuo Toong International Co Ltd grew +11.2 % a year. The price currently implies +40.7 % 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 Kuo Toong International Co Ltd (8936) growing?
The median revenue growth in the sector is +4.6 % a year. That is the yardstick for the growth priced into Kuo Toong International Co Ltd (+40.7 % 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 Kuo Toong International Co Ltd (8936)?
The free-cash-flow yield on the price is 1.25 %: that much free cash flow Kuo Toong International Co Ltd produces per unit of market value. When it exceeds the discount rate of our models (10.3 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Kuo Toong International Co Ltd (8936)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Kuo Toong International Co Ltd it is 51.71 TWD per share (as of Sep 24, 2026), against a price of 52.10 TWD. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is Kuo Toong International Co Ltd stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 8936 trades above its calculated fair value: price 52.10 TWD, fair value 51.71 TWD, a gap of about −1% (fairly valued). 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 8936?
No. The price is what the market pays today (52.10 TWD); the fair value is what the company's own numbers justify (51.71 TWD). For Kuo Toong International Co Ltd the two are 0.3900 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Kuo Toong International Co Ltd worth?
The market values Kuo Toong International Co Ltd at about 12.9B TWD (market capitalisation, as of Sep 24, 2026). Per share that is 52.10 TWD; our models calculate a fair value of 51.71 TWD per share.
What do the bullish and bearish scenarios say about 8936?
Our models span a range for Kuo Toong International Co Ltd: cautious scenario 26.19 TWD, base 51.71 TWD, optimistic 88.89 TWD per share (as of Sep 24, 2026, price 52.10 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 8936?
Kuo Toong International Co Ltd trades at a price-to-earnings ratio of 12.8 (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 51.71 TWD is built from several models across several years. Other multiples: P/B 1.9, P/S 1.9, EV/EBITDA 9.0.
How solid is the balance sheet of Kuo Toong International Co Ltd (8936)?
Balance-sheet figures for Kuo Toong International Co Ltd (as of Sep 24, 2026): return on equity 13.5%, debt of 0.32 per unit of equity. They feed the Quality Score of 60/100, which measures business quality independently of the share price.
How far is 8936 from its 52-week high?
Kuo Toong International Co Ltd trades at 52.10 TWD, about 25% below its 52-week high of 69.30 TWD and 7% above the low of 48.72 TWD (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 51.71 TWD is for.
Which stocks are comparable to Kuo Toong International Co Ltd?
From the same area (Industrials) we also value Trane Technologies plc, Johnson Controls International plc, Carrier Global Corporation, Compagnie de Saint-Gobain S.A, 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 Kuo Toong International Co Ltd stock attractive at the current price?
The data as of Sep 24, 2026: price 52.10 TWD, calculated fair value 51.71 TWD (−1%), Quality Score 60/100, 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 8936 calculated?
We run Kuo Toong International 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 51.71 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 13.0 % above its aggregate fair value. Kuo Toong International 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 Kuo Toong International Co Ltd (8936)?
The closing price on Sep 24, 2026 was 52.10 TWD. Our model-based fair value is 51.71 TWD, about −1% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Kuo Toong International Co Ltd right now?
The model range is unusually wide (26.19 TWD to 88.89 TWD). The outcome hinges heavily on assumptions, so read the point estimate with caution. The price sits close to our fair value, market and models broadly agree here, little valuation tension.
Where does the earnings growth of Kuo Toong International Co Ltd (8936) come from?
Earnings per share at Kuo Toong International Co Ltd grew +2.6 % a year from 2012 to 2023. Broken into its drivers: revenue per share +2.8 %, EBIT margin +4.3 %, tax rate −0.8 %, residual (interest, one-offs) −3.5 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Kuo Toong International Co Ltd
How large is the market capitalisation of Kuo Toong International Co Ltd (8936)?
The market capitalisation of Kuo Toong International Co Ltd is 12.9B TWD (≈ $406M). 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 Kuo Toong International Co Ltd (8936)?
The price-to-sales ratio of Kuo Toong International Co Ltd is 2.06 (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 Kuo Toong International Co Ltd (8936)?
Earnings per share at Kuo Toong International Co Ltd are 4.06 TWD (price ÷ EPS = P/E 12.8). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Kuo Toong International Co Ltd (8936)?
The dividend yield of Kuo Toong International Co Ltd is 5.8% (payout 73.9%). 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 Kuo Toong International Co Ltd (8936)?
The net margin of Kuo Toong International Co Ltd is 16.0% (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 Kuo Toong International Co Ltd (8936)?
The return on equity (ROE) of Kuo Toong International Co Ltd is 13.5% (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 Kuo Toong International Co Ltd (8936)?
On an EBIT basis the return on assets of Kuo Toong International Co Ltd is 8.4% (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 Kuo Toong International Co Ltd (8936)?
The operating margin of Kuo Toong International Co Ltd is 19.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Kuo Toong International Co Ltd (8936)?
Revenue at Kuo Toong International Co Ltd is growing +26.7% versus a year earlier (3y avg +18.5%). 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 Kuo Toong International Co Ltd (8936)?
Earnings per share at Kuo Toong International Co Ltd are growing +33.9% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Kuo Toong International Co Ltd (8936) carry?
The net debt of Kuo Toong International Co Ltd is 3.0B TWD (fiscal year 2025, ≈ 18.5 yrs of FCF). 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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