Her Chee Industrial Co (8937) Fair Value & Analysis
Consumer Cyclical · TW · Market cap 10.6B TWD
Fair value as of: Jul 23, 2026
From 1 valuation models · updated 18 days ago
Share price −7.4% over the past month.
Below-average quality, and screening another 85% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (5.26 TWD). The favourable scenario is already priced in.
- Weak quality (13/100) 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.
- A fairly wide model range (2.63 TWD to 5.26 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 11.45 TWD – 192.50 TWD · fair‑value band 2.63 TWD – 5.26 TWD · the 23.65 TWD price screens above the 3.53 TWD fair value. Dashed = 300-day average. As of Jul 23, 2026.
Analysis
Her Chee Industrial Co (8937) currently trades at 23.65 TWD, while our model-based Fair Value estimate is 3.53 TWD, implying the stock looks roughly 85.1% overvalued today. The Quality Score stands at 13/100 (below-average quality), in the Consumer Cyclical 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: low).
Over the trailing twelve months, Her Chee Industrial Co generated revenue of 216M TWD at a net margin of -44.3%. It earns a return on equity of -4.8%. Net debt stands at 400M TWD. Fundamentals as of Jul 23, 2026
Our scenario range runs from 2.63 TWD (bear case) to 5.26 TWD (bull case); at 23.65 TWD, the current price sits above 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. For context, the median of 10 Consumer Cyclical peers we cover trades at 6% fair-value upside, at -85%, 8937 screens richer 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 1 models by family
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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 22 · Market factors (momentum, volatility) 16
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
Her Chee Industrial Co., Ltd. manufactures and sells professional vehicles under the ADLY moto brand name in Taiwan. The company offers ATV utility and sports vehicles, and agro-delivery ATVs, scooters, as well as electric vehicles. It also provides locomotives, locomotive leads, electric locomotives, and other means of transportation.
Full company description
Her Chee Industrial Co., Ltd. manufactures and sells professional vehicles under the ADLY moto brand name in Taiwan. The company offers ATV utility and sports vehicles, and agro-delivery ATVs, scooters, as well as electric vehicles. It also provides locomotives, locomotive leads, electric locomotives, and other means of transportation. The company is involved in land development, energy storage service, and vessel leasing. It also exports its products. The company was founded in 1976 and is based in Chiayi, Taiwan.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Her Chee Industrial Co reported revenue of 65.7M TWD in FY2025 versus 126M TWD in FY2021, a compound −15.1%/yr. Reported net income was −74.0M TWD in FY2025.
8937 screens 85% overvalued. Compare with Zhejiang Cfmoto Power Co →
Peer Group
Recreational Vehicles · 37 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 Recreational Vehicles 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.
VALUE 0: the price sits above our fair-value range.
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 Recreational Vehicles stocks, each showing price versus our Fair Value estimate (as of Jul 23, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Zhejiang Cfmoto Power Co 603129 | ¥293.01 | ¥199.10 | -32% |
| Brunswick Corporation BC | $80.45 | $16.76 | -79% |
| BRP Inc DOO | C$85.96 | C$86.81 | +1% |
| Polaris Inc PII | $67.40 | $29.83 | -56% |
| THOR Industries, Inc THO | $72.86 | $97.14 | +33% |
| Trigano S.A TRI | €149.60 | €273.48 | +83% |
| Patrick Industries, Inc PATK | $82.70 | $85.54 | +3% |
| Harley-Davidson, Inc HOG | $26.81 | $64.09 | +139% |
| LCI Industries, LCII | $108.17 | $156.35 | +45% |
| Sanlorenzo S.p.A SL | €38.30 | €40.65 | +6% |
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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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