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Neo-Neon Holdings (911868) fair value: what the stock is really worth
As of Oct 2, 2026: fair value of Neo-Neon Holdings TWD 1.70, price TWD 1.16, upside +46.6%, quality 36 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
- Fair value above price? Yes
- Good quality? No
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Some data
Sep 24, 2026
Neo-Neon Holdings
911868 · TWSpeculativeUpside exists, but weak quality makes the signal speculative.
✓Fair value 1.70 TWD · Undervalued (+46.6%)
!Quality 36/100
!Weak Growth (revenue 5y −3.0 %/yr)
!Thin margins · 1.0% net margin (TTM)
!Low debt · negative free cash flow
!Narrow moat 18/100
!Evidence only medium, so the estimate is less certain
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
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range 1.10 TWD – 2.07 TWD · fair‑value band 1.64 TWD – 1.70 TWD · the 1.16 TWD price screens below the 1.70 TWD fair value. Dashed = 300-day average. As of Sep 24, 2026.
Company profile
Neo-Neon Holdings Limited, an investment holding company, engages in the manufacture and trading of lighting products in North America, Europe, the People's Republic of China, the rest of Asia, and internationally. The company operates in two segments, PRC Lighting and USA Lighting.
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Neo-Neon Holdings Limited, an investment holding company, engages in the manufacture and trading of lighting products in North America, Europe, the People's Republic of China, the rest of Asia, and internationally. The company operates in two segments, PRC Lighting and USA Lighting. It offers neon flex, tape light, LED light string, duralight, party light, LED flexible wall washer, LED dewdrop light, vintage style, and others. The company also provides decorative and commercial LED lighting products. Neo-Neon Holdings Limited was founded in 1978 and is headquartered in Hong Kong, Hong Kong. Neo-Neon Holdings Limited is a subsidiary of Resuccess Investments Limited.
Stock analysis
Neo-Neon Holdings (911868) currently trades at 1.16 TWD, while our model-based Fair Value estimate is 1.70 TWD, implying the stock looks roughly 31.8% undervalued today.
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Valuation
Bull case: the Asset-Based group reads highest at a median of 2.41 TWD per share, and 3 of the 8 models we run sit above the 1.16 TWD price.
Bear case: the Multiples group reads lowest at 0.2800 TWD, and 5 of the 8 models stay below the price. Evidence for this calculation is medium.
Scenario range: 1.64 TWD (bear) to 1.70 TWD (bull), the price of 1.16 TWD sits below 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 36/100 (below-average quality), in the Consumer Cyclical sector.
Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.
Neo-Neon Holdings reported revenue of 724M CNY in FY2025 versus 864M CNY in FY2021, a compound −4.3%/yr. Reported net income was 7.2M CNY in FY2025.
Key figures
Market cap 4.9B TWD (≈ $153M) · P/E ratio 58.0 · P/S ratio 0.58 · EPS (TTM) 0.0200 TWD · Net margin 1.0% · Return on equity 0.5% · Return on assets (EBIT) −0.4% · Operating margin 0.1%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 33 out of 100 (low confidence).
What moves the price
The share trades about 15% below its 52-week high and 1% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at 29% fair-value upside, at 47%, 911868 screens cheaper than that median.
Fair Value models
Bear 1.64 TWD
Fair Value 1.70 TWD
Bull 1.70 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 (0.0151 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.
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
Owner Earnings
1.86 TWD
1.96 TWD
2.13 TWD
78
Residual Income
2.20 TWD
2.01 TWD
1.85 TWD
71
Graham-Dodd
0.1100 TWD
0.1400 TWD
0.1500 TWD
67
All 8 models by family
DCF Models
Owner Earnings
1.86 TWD
1.96 TWD
2.13 TWD
78
Earnings-Based
Graham-Dodd
0.1100 TWD
0.1400 TWD
0.1500 TWD
67
Multiples
P/E Multiple
0.3500 TWD
0.4600 TWD
0.5800 TWD
63
P/S Multiple
0.2100 TWD
0.2800 TWD
0.3500 TWD
58
P/B Multiple
0.2100 TWD
0.2800 TWD
0.3500 TWD
55
Asset-Based
NCAV (Graham)
1.80 TWD
2.41 TWD
3.60 TWD
54
Economic Profit
Residual Income
2.20 TWD
2.01 TWD
1.85 TWD
71
Growth Earnings
Growth-Adj P/E
0.2400 TWD
0.3500 TWD
0.4500 TWD
67
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Set up alert →Quality Score breakdown
Overall quality
36/100
Of which business quality 38 · Market factors (momentum, volatility) 46
Profitability
21
Margins and returns on capital today
Quality Growth
25
Are margins and returns improving?
Cashflow
0
Earnings quality: real cash, not paper profit
Fin. Strength
100
Balance sheet, leverage, solvency risk
Investment
91
Disciplined investing over empire-building
Low Volatility
99
Calm price path (market factor)
Momentum
30
Price trend over the last 3–12 months (market factor)
52W Momentum
13
Distance to the 52-week high (market factor)
Net Issuance
0
Share count: buybacks or dilution?
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.
14/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−3.0%
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.
−7.9%
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.
−3.0%
Start year 2020 (pandemic). Over 10 years: +1.9% a year
Revenue growth 20 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.
−1.7%
’14
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’16
’17
’18
’19
’20
’21
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’25
What shareholders gained per year (last 3 years) ⓘ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.
−54.2%
Earnings growth per share plus dividend.
Earnings per share, growth per year−54.2%
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.−3% → −4%
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Context: sector, industry, market
- P/E, EV/EBITDA and margins by industry (reference tables)
- Undervalued stocks: Taiwanese Stocks
- Valuation of the Taiwan 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
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| COWAY Co 021240 | 99,800 KRW | 74,673 KRW | −25% |
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Frequently asked questions
Is Neo-Neon Holdings (911868) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 1.70 TWD versus a price of 1.16 TWD, about +47% upside (undervalued).
What is the fair value of 911868?
Our model-based fair value for Neo-Neon Holdings is 1.70 TWD (as of Sep 24, 2026), built from audited fundamentals. The current price: 1.16 TWD.
What is the quality score of 911868?
Neo-Neon Holdings has a Quality Score of 36/100. 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 Neo-Neon Holdings (911868)?
Our model-based price target is the fair value of 1.70 TWD (as of Sep 24, 2026) from 8 valuation models. Cautious scenario 1.64 TWD, optimistic scenario 1.70 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Neo-Neon Holdings stock forecast for 2026?
Our models put fair value at 1.70 TWD, about +47% upside versus a price of 1.16 TWD (undervalued). Cautious scenario 1.64 TWD, optimistic scenario 1.70 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Neo-Neon Holdings (911868)?
Neo-Neon Holdings reported trailing-twelve-month revenue of about 751M CNY (latest available figure, as of Sep 24, 2026).
What is the intrinsic value of Neo-Neon Holdings (911868)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Neo-Neon Holdings it is 1.70 TWD per share (as of Sep 24, 2026), against a price of 1.16 TWD. It is the blended result of 8 valuation models (cash flow, earnings, asset, dividend).
Is Neo-Neon Holdings stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 911868 trades below its calculated fair value: price 1.16 TWD, fair value 1.70 TWD, a gap of about +47% (undervalued). 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 911868?
No. The price is what the market pays today (1.16 TWD); the fair value is what the company's own numbers justify (1.70 TWD). For Neo-Neon Holdings the two are 0.5400 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Neo-Neon Holdings worth?
The market values Neo-Neon Holdings at about 4.9B TWD (market capitalisation, as of Sep 24, 2026). Per share that is 1.16 TWD; our models calculate a fair value of 1.70 TWD per share.
What do the bullish and bearish scenarios say about 911868?
Our models span a range for Neo-Neon Holdings: cautious scenario 1.64 TWD, base 1.70 TWD, optimistic 1.70 TWD per share (as of Sep 24, 2026, price 1.16 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
How far is 911868 from its 52-week high?
Neo-Neon Holdings trades at 1.16 TWD, about 15% below its 52-week high of 1.37 TWD and 1% above the low of 1.15 TWD (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of 1.70 TWD is for.
Which stocks are comparable to Neo-Neon Holdings?
From the same area (Consumer Cyclical) we also value Midea Group, King Slide Works Co, Gree Electric Appliances, Inc, Haier Smart Home Co, 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 Neo-Neon Holdings stock attractive at the current price?
The data as of Sep 24, 2026: price 1.16 TWD, calculated fair value 1.70 TWD (+47%), Quality Score 36/100, from 8 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 911868 calculated?
We run Neo-Neon Holdings through 8 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 1.70 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 14.5 % above its aggregate fair value. Neo-Neon Holdings currently trades 32 % below its own fair value, and the market average says nothing about that. 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 Neo-Neon Holdings (911868)?
The closing price on Oct 2, 2026 was 1.16 TWD. Our model-based fair value is 1.70 TWD, about +47% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Neo-Neon Holdings right now?
The large discount to fair value meets weak quality (36/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case (1.64 TWD). The market is more pessimistic than our downside scenario. The models converge in a tight band (1.64 TWD to 1.70 TWD), unusually little disagreement for a valuation.
Key figures of Neo-Neon Holdings
How large is the market capitalisation of Neo-Neon Holdings (911868)?
The market capitalisation of Neo-Neon Holdings is 4.9B TWD (≈ $153M). 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/E ratio of Neo-Neon Holdings (911868)?
The price-to-earnings ratio of Neo-Neon Holdings is 58.0. Price to earnings: how many years of current profit you pay for the stock. A P/E of 10 means ten years of profit.
What is the P/S ratio of Neo-Neon Holdings (911868)?
The price-to-sales ratio of Neo-Neon Holdings is 0.58 (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 Neo-Neon Holdings (911868)?
Earnings per share at Neo-Neon Holdings are 0.0200 TWD (price ÷ EPS = P/E 58.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Neo-Neon Holdings (911868)?
The net margin of Neo-Neon Holdings is 1.0% (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 Neo-Neon Holdings (911868)?
The return on equity (ROE) of Neo-Neon Holdings is 0.5% (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 Neo-Neon Holdings (911868)?
On an EBIT basis the return on assets of Neo-Neon Holdings is −0.4% (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 Neo-Neon Holdings (911868)?
The operating margin of Neo-Neon Holdings is 0.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Neo-Neon Holdings (911868)?
Revenue at Neo-Neon Holdings is growing +1.9% versus a year earlier (3y avg −7.9%). 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 Neo-Neon Holdings (911868)?
Earnings per share at Neo-Neon Holdings are growing −91.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Neo-Neon Holdings (911868) generate?
The free cash flow of Neo-Neon Holdings is −43.0M CNY (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does Neo-Neon Holdings (911868) hold?
Neo-Neon Holdings holds more cash than debt, 580M CNY net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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