Fulgent Sun International Holding Co Ltd (9802) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Fulgent Sun International Holding Co Ltd TWD 108, price TWD 63.70, upside +70.2%, quality 53 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 23, 2026.
How to read this chart
60‑month range 63.50 TWD – 198.19 TWD · fair‑value band 75.88 TWD – 140.92 TWD · the 63.70 TWD price screens below the 108.40 TWD fair value. Dashed = 300-day average. As of Sep 23, 2026.
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Fulgent Sun International (Holding) Co., Ltd., together with its subsidiaries, produces and sells sports and leisure outdoor footwear in Taiwan, rest of Asia, America, Europe, Africa, and Australia.
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Fulgent Sun International (Holding) Co., Ltd., together with its subsidiaries, produces and sells sports and leisure outdoor footwear in Taiwan, rest of Asia, America, Europe, Africa, and Australia. The company offers sneakers, running shoes, tennis shoes, high-top sneakers, snowshoes, sports sandals, casual shoes, outdoor shoes, waterproof shoes, and GORE-TEX shoes. It also engages in import and export trading, and land leasing businesses. The company exports its products. Fulgent Sun International (Holding) Co., Ltd. was founded in 1995 and is headquartered in Douliou City, Taiwan.
Stock analysis
Fulgent Sun International Holding Co Ltd (9802) currently trades at 63.70 TWD, while our model-based Fair Value estimate is 108.40 TWD, implying the stock looks roughly 41.2% undervalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of 113.32 TWD per share, and 13 of the 16 models we run sit above the 63.70 TWD price.
Bear case: the Asset-Based group reads lowest at 45.90 TWD, and 3 of the 16 models stay below the price. Evidence for this calculation is high.
Scenario range: 75.88 TWD (bear) to 140.92 TWD (bull), the price of 63.70 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 53/100 (solid quality), in the Consumer Cyclical sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Fulgent Sun International Holding Co Ltd reported revenue of 17.3B TWD in FY2025 versus 15.5B TWD in FY2021, a compound +2.7%/yr. Reported net income was 1.2B TWD in FY2025, compounding +0.5%/yr from FY2021.
Key figures
Market cap 15.0B TWD (≈ $472M) · P/E ratio 10.9 · P/S ratio 0.76 · EPS (TTM) 5.87 TWD · Dividend yield 8.0% · Net margin 7.0% · Return on equity 8.7% · Return on assets (EBIT) 10.1%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 43 out of 100 (low confidence).
What moves the price
The share trades about 45% 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 54% fair-value upside, at 70%, 9802 screens cheaper than that median.
Fair Value models
Bear 75.88 TWDFair Value 108.40 TWDBull 140.92 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 (0.5633 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.40/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+18.4%
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.
−10.6%
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.
+8.8%
Start year 2020 (pandemic). Over 10 years: +6.7% a year
Revenue growth 16 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.
+8.3%
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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. 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.
+7.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year−0.6%
Dividend (yield on the price)8.0%
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.−1% vs 7%, slowing
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.10% → 9%
Compare Fulgent Sun International Holding Co Ltd with another stock
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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.Footwear & Accessories · 94 stocks
Beats the industry median on 10/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score53 · Below median
Fair Value upside+69% · Above median
Profitability
Return on equity (TTM)8% · Above median
Return on assets4% · Above median
Net margin (TTM)7% · Above median
Operating margin (TTM)5% · Below median
Growth and dividend
Revenue growth0% · Above median
Dividend yield (TTM)8.0% · Top 25%
Balance sheet
Debt / equity0.02× · Below median
Valuation Multiplesvs Footwear & Accessories median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Fulgent Sun International Holding Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/9802
Frequently asked questions
Is Fulgent Sun International Holding Co Ltd (9802) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of 108.40 TWD versus a price of 63.70 TWD, about +70% upside (undervalued).
What is the fair value of 9802?
Our model-based fair value for Fulgent Sun International Holding Co Ltd is 108.40 TWD (as of Sep 23, 2026), built from audited fundamentals. The current price: 63.70 TWD.
What is the quality score of 9802?
Fulgent Sun International Holding Co Ltd has a Quality Score of 53/100. 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 Fulgent Sun International Holding Co Ltd (9802)?
Our model-based price target is the fair value of 108.40 TWD (as of Sep 23, 2026) from 16 valuation models. Cautious scenario 75.88 TWD, optimistic scenario 140.92 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Fulgent Sun International Holding Co Ltd stock forecast for 2026?
Our models put fair value at 108.40 TWD, about +70% upside versus a price of 63.70 TWD (undervalued). Cautious scenario 75.88 TWD, optimistic scenario 140.92 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Fulgent Sun International Holding Co Ltd (9802)?
Fulgent Sun International Holding Co Ltd reported trailing-twelve-month revenue of about 17.3B TWD (latest available figure, as of Sep 23, 2026).
Does Fulgent Sun International Holding Co Ltd pay a dividend?
Fulgent Sun International Holding Co Ltd currently shows a dividend yield of about 8.01% relative to its recent price (as of Sep 23, 2026).
What is the intrinsic value of Fulgent Sun International Holding Co Ltd (9802)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Fulgent Sun International Holding Co Ltd it is 108.40 TWD per share (as of Sep 23, 2026), against a price of 63.70 TWD. It is the blended result of 16 valuation models (cash flow, earnings, asset, dividend).
Is Fulgent Sun International Holding Co Ltd stock overvalued or undervalued in 2026?
As of Sep 23, 2026, 9802 trades below its calculated fair value: price 63.70 TWD, fair value 108.40 TWD, a gap of about +70% (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 9802?
No. The price is what the market pays today (63.70 TWD); the fair value is what the company's own numbers justify (108.40 TWD). For Fulgent Sun International Holding Co Ltd the two are 44.70 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Fulgent Sun International Holding Co Ltd worth?
The market values Fulgent Sun International Holding Co Ltd at about 15.0B TWD (market capitalisation, as of Sep 23, 2026). Per share that is 63.70 TWD; our models calculate a fair value of 108.40 TWD per share.
What do the bullish and bearish scenarios say about 9802?
Our models span a range for Fulgent Sun International Holding Co Ltd: cautious scenario 75.88 TWD, base 108.40 TWD, optimistic 140.92 TWD per share (as of Sep 23, 2026, price 63.70 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 9802?
Fulgent Sun International Holding Co Ltd trades at a price-to-earnings ratio of 10.9 (as of Sep 23, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 108.40 TWD is built from several models across several years. Other multiples: P/B 1.1, P/S 0.9, EV/EBITDA 5.6.
How solid is the balance sheet of Fulgent Sun International Holding Co Ltd (9802)?
Balance-sheet figures for Fulgent Sun International Holding Co Ltd (as of Sep 23, 2026): return on equity 8.2%, debt of 0.02 per unit of equity. They feed the Quality Score of 53/100, which measures business quality independently of the share price.
How far is 9802 from its 52-week high?
Fulgent Sun International Holding Co Ltd trades at 63.70 TWD, about 45% below its 52-week high of 115.00 TWD and at the low of 63.50 TWD (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 108.40 TWD is for.
Which stocks are comparable to Fulgent Sun International Holding Co Ltd?
From the same area (Consumer Cyclical) we also value NIKE, Inc, Deckers Outdoor Corporation, On Holding, Zhejiang China Commodities City Group, 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 Fulgent Sun International Holding Co Ltd stock attractive at the current price?
The data as of Sep 23, 2026: price 63.70 TWD, calculated fair value 108.40 TWD (+70%), Quality Score 53/100, from 16 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 9802 calculated?
We run Fulgent Sun International Holding Co Ltd through 16 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 108.40 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 14.1 % above its aggregate fair value. Fulgent Sun International Holding Co Ltd currently trades 70 % 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 Fulgent Sun International Holding Co Ltd (9802)?
The closing price on Sep 24, 2026 was 63.70 TWD. Our model-based fair value is 108.40 TWD, about +70% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Fulgent Sun International Holding Co Ltd right now?
The price is below even our cautious bear case (75.88 TWD). The market is more pessimistic than our downside scenario. Solid quality (53/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (75.88 TWD to 140.92 TWD) leaves room in how you read the outcome.
Where does the earnings growth of Fulgent Sun International Holding Co Ltd (9802) come from?
Earnings per share at Fulgent Sun International Holding Co Ltd grew +10.3 % a year from 2014 to 2025. Broken into its drivers: revenue per share +3.0 %, EBIT margin +7.1 %, tax rate +0.9 %, residual (interest, one-offs) −0.9 %. 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 Fulgent Sun International Holding Co Ltd
How large is the market capitalisation of Fulgent Sun International Holding Co Ltd (9802)?
The market capitalisation of Fulgent Sun International Holding Co Ltd is 15.0B TWD (≈ $472M). 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 Fulgent Sun International Holding Co Ltd (9802)?
The price-to-sales ratio of Fulgent Sun International Holding Co Ltd is 0.76 (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 Fulgent Sun International Holding Co Ltd (9802)?
Earnings per share at Fulgent Sun International Holding Co Ltd are 5.87 TWD (price ÷ EPS = P/E 10.9). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Fulgent Sun International Holding Co Ltd (9802)?
The dividend yield of Fulgent Sun International Holding Co Ltd is 8.0% (payout 86.9%). 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 Fulgent Sun International Holding Co Ltd (9802)?
The net margin of Fulgent Sun International Holding Co Ltd is 7.0% (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 Fulgent Sun International Holding Co Ltd (9802)?
The return on equity (ROE) of Fulgent Sun International Holding Co Ltd is 8.7% (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 Fulgent Sun International Holding Co Ltd (9802)?
On an EBIT basis the return on assets of Fulgent Sun International Holding Co Ltd is 10.1% (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 Fulgent Sun International Holding Co Ltd (9802)?
The operating margin of Fulgent Sun International Holding Co Ltd is 5.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Fulgent Sun International Holding Co Ltd (9802)?
Revenue at Fulgent Sun International Holding Co Ltd is growing +0.2% versus a year earlier (3y avg −10.6%). 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 Fulgent Sun International Holding Co Ltd (9802)?
Earnings per share at Fulgent Sun International Holding Co Ltd are growing −27.7% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Fulgent Sun International Holding Co Ltd (9802) generate?
The free cash flow of Fulgent Sun International Holding Co Ltd is −507M TWD (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Fulgent Sun International Holding Co Ltd (9802) carry?
The net debt of Fulgent Sun International Holding Co Ltd is 1.0B TWD (fiscal year 2025). 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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