New Palace International Co Ltd (8940) fair value: what the stock is really worth
As of Nov 9, 2026: fair value (intrinsic value) of New Palace International Co Ltd stock TWD 12.15, price TWD 14.55, that is 16.5% below the price, quality 50 out of 100. Rating: overvalued. Calculated from audited financials with 22 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 4, 2026.
How to read this chart
60‑month range 11.40 TWD – 35.85 TWD · fair‑value band 9.11 TWD – 15.19 TWD · the 14.55 TWD price screens above the 12.15 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 4, 2026.
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New Palace International Co., Ltd. operates restaurants. It provides banquet and catering services. The company also engages in trading of fruit juices, beverages, and frozen food. New Palace International Co., Ltd. was founded in 1945 and is based in Taichung, Taiwan.
Stock analysis
New Palace International Co Ltd (8940) currently trades at 14.55 TWD, while our model-based Fair Value estimate is 12.15 TWD, 16% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 33.07 TWD per share, and 12 of the 22 models we run sit above the 14.55 TWD price.
Bear case: the Asset-Based group reads lowest at 7.55 TWD, and 10 of the 22 models stay below the price. Data coverage for this calculation is low.
Scenario range: 9.11 TWD (bear) to 15.19 TWD (bull), the price of 14.55 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 50/100 (solid quality), in the Consumer Cyclical sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
New Palace International Co Ltd reported revenue of 1.6B TWD in FY2025 versus 669M TWD in FY2021, a compound +24.1%/yr. Reported net income was 37.3M TWD in FY2025.
Key figures
Market cap 1.0B TWD (≈ $30.6M) Micro · P/E ratio 27.5 · P/S ratio 0.63 · EPS (TTM) 0.5300 TWD · Net margin 2.2% · Return on equity 4.9% · Return on assets (EBIT) 2.2% (5-year average) · Operating margin −12.1%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 25 out of 100 (low confidence).
What moves the price
The share trades about 35% below its 52-week high and at its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at −30% fair-value upside, at −16%, 8940 screens cheaper than that median.
Fair Value models
Bear9.11 TWDFair Value 12.15 TWDBull15.19 TWD
Price 14.55 TWD · Downside -16.5%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (0.4545 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. 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.Coverage ⓘCoverage = 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.73/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−6.4%
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.
+17.5%
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.
+9.3%
Start year 2020 (pandemic). Over 10 years: −0.4% a year
Revenue growth 23 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.
+2.8%
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What shareholders gained per year (last 3 years), in TWD (mathematically smoothed) ⓘ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 3 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. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip. 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.
−16.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year−16.4%
Dividend (yield on the price)0.0%
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.−8% → 4%
2025 sits 60% above its own trend. The rate follows the median trend of the last 3 years, not that single year.
Growth Forecast
Little optimism in the price
The price assumes less 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).
−15.5%
The company could shrink this much every year for the next five years and today's price would still be justified.
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 −16.8% a year for the price.
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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.Restaurants · 200 stocks
Beats the industry median on 4/13 measures
Overall it trails its industry peers.
Valuation
Quality Score50 · Below median
Fair Value upside−16.5% · Below median
Profitability
Return on equity (12 months)4.9% · Below median
Return on assets1.7% · Below median
Net margin (12 months)2.2% · Below median
Operating margin (12 months)−12.1% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY)−0.8% · Below median
Balance sheet
Debt / equity0.15× · Above median
Valuation Multiplesvs Restaurants median · lower = cheaper
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Cite: Fair Value Calculator (2026). "New Palace International Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/8940
Frequently asked questions
Is New Palace International Co Ltd (8940) overvalued or undervalued?
As of Nov 4, 2026, our model estimates a fair value of 12.15 TWD versus a price of 14.55 TWD, about 16% lower (overvalued).
What is the fair value of 8940?
Our model-based fair value for New Palace International Co Ltd is 12.15 TWD (as of Nov 4, 2026), built from audited fundamentals. The current price: 14.55 TWD.
What is the quality score of 8940?
New Palace International Co Ltd has a Quality Score of 50/100. 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 New Palace International Co Ltd (8940)?
Our model-based price target is the fair value of 12.15 TWD (as of Nov 4, 2026) from 22 valuation models. Cautious scenario 9.11 TWD, optimistic scenario 15.19 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the New Palace International Co Ltd stock forecast for 2026?
Our models put fair value at 12.15 TWD, about 16% lower versus a price of 14.55 TWD (overvalued). Cautious scenario 9.11 TWD, optimistic scenario 15.19 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of New Palace International Co Ltd (8940)?
New Palace International Co Ltd reported trailing-twelve-month revenue of about 1.6B TWD (latest available figure, as of Nov 4, 2026).
What growth is priced into New Palace International Co Ltd (8940)?
For today's price to be fair in a discounted-cash-flow model, New Palace International Co Ltd would have to grow free cash flow by -15.5 % 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 +9.3 % per year. As of Nov 4, 2026.
What discount rate (WACC) does the fair value of 8940 use?
Our models discount New Palace International Co Ltd at 10.3 %: a base by market capitalisation (nano), 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 New Palace International Co Ltd that is -15.5 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (10.3 %) and the same formula as our fair value.
How much growth has New Palace International Co Ltd (8940) delivered so far?
Over the past 5 years revenue at New Palace International Co Ltd grew +9.3 % a year. The price currently implies free-cash-flow growth of -15.5 % per 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 New Palace International Co Ltd (8940) growing?
The median revenue growth in the sector is +4.7 % a year. That is the yardstick for the growth priced into New Palace International Co Ltd (-15.5 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of New Palace International Co Ltd (8940)?
The free-cash-flow yield on the price is 17.89 %: that much free cash flow New Palace 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 New Palace International Co Ltd (8940)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For New Palace International Co Ltd it is 12.15 TWD per share (as of Nov 4, 2026), against a price of 14.55 TWD. It is the blended result of 22 valuation models in 7 families (DCF Models, Earnings-Based, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is New Palace International Co Ltd stock overvalued or undervalued in 2026?
As of Nov 4, 2026, 8940 trades above its calculated fair value: price 14.55 TWD, fair value 12.15 TWD, a gap of about −16% (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 8940?
No. The price is what the market pays today (14.55 TWD); the fair value is what the company's own numbers justify (12.15 TWD). For New Palace International Co Ltd the two are 2.40 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is New Palace International Co Ltd worth?
The market values New Palace International Co Ltd at about 1.0B TWD (market capitalisation, as of Nov 4, 2026). Per share that is 14.55 TWD; our models calculate a fair value of 12.15 TWD per share.
What do the bullish and bearish scenarios say about 8940?
Our models span a range for New Palace International Co Ltd: cautious scenario 9.11 TWD, base 12.15 TWD, optimistic 15.19 TWD per share (as of Nov 4, 2026, price 14.55 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 8940?
New Palace International Co Ltd trades at a price-to-earnings ratio of 27.5 (as of Nov 4, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 12.15 TWD is built from several models across several years. Median P/E at fiscal year-end, 5 fiscal years (2016 to 2025), reported earnings: 36.9. Other multiples: P/B 1.3, P/S 0.6, EV/EBITDA 4.1.
How solid is the balance sheet of New Palace International Co Ltd (8940)?
Balance-sheet figures for New Palace International Co Ltd (as of Nov 4, 2026): return on equity 4.9%, debt of 0.15 per unit of equity. They feed the Quality Score of 50/100, which measures business quality independently of the share price.
How far is 8940 from its 52-week high?
New Palace International Co Ltd trades at 14.55 TWD, about 35% below its 52-week high of 22.25 TWD and at the low of 14.55 TWD (as of Nov 9, 2026). Distance from the high says nothing about value: that is what the fair value of 12.15 TWD is for.
Which stocks are comparable to New Palace International Co Ltd?
From the same area (Consumer Cyclical) we also value McDonald's Corporation, Starbucks Corporation, Yum! Brands, Inc, Chipotle Mexican Grill, 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 New Palace International Co Ltd stock attractive at the current price?
The data as of Nov 4, 2026: price 14.55 TWD, calculated fair value 12.15 TWD (−16%), Quality Score 50/100, from 22 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 8940 calculated?
We run New Palace International Co Ltd through 22 models from 7 families: DCF Models, Earnings-Based, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of 12.15 TWD builds on their evidence-weighted average, 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 13.3% above its aggregate fair value. New Palace 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 New Palace International Co Ltd (8940)?
The closing price on Nov 9, 2026 was 14.55 TWD. Our model-based fair value is 12.15 TWD, about 16% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with New Palace International Co Ltd right now?
Solid but not exceptional quality (50/100) and above fair value, neither a clear bargain nor a standout compounder. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
Where does the earnings growth of New Palace International Co Ltd (8940) come from?
Earnings per share at New Palace International Co Ltd grew +12.1 % a year from 2015 to 2025. Broken into its drivers: revenue per share +0.3 %, EBIT margin +21.7 %, tax rate −4.0 %, residual (interest, one-offs) −4.4 %. 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 New Palace International Co Ltd
How large is the market capitalisation of New Palace International Co Ltd (8940)?
The market capitalisation of New Palace International Co Ltd is 1.0B TWD (≈ $30.6M). 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 New Palace International Co Ltd (8940)?
The price-to-sales ratio of New Palace International Co Ltd is 0.63 (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 New Palace International Co Ltd (8940)?
Earnings per share at New Palace International Co Ltd are 0.5300 TWD (price ÷ EPS = P/E 27.5). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of New Palace International Co Ltd (8940)?
The net margin of New Palace International Co Ltd is 2.2% (last twelve months). 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 New Palace International Co Ltd (8940)?
The return on equity (ROE) of New Palace International Co Ltd is 4.9% (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 New Palace International Co Ltd (8940)?
On an EBIT basis the return on assets of New Palace International Co Ltd is 2.2% (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 New Palace International Co Ltd (8940)?
The operating margin of New Palace International Co Ltd is −12.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at New Palace International Co Ltd (8940)?
Revenue at New Palace International Co Ltd is growing −0.8% versus a year earlier (3y avg +17.5%). 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 New Palace International Co Ltd (8940)?
Earnings per share at New Palace International Co Ltd are growing +6.1% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does New Palace International Co Ltd (8940) carry?
The net debt of New Palace International Co Ltd is 1.2B TWD (fiscal year 2025, ≈ 6.6 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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Thin data
Nov 4, 2026