Fulgent Sun International Holding Co Ltd (9802) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Fulgent Sun International Holding Co Ltd stock TWD 108, price TWD 63.00, upside +72.1%, quality 56 out of 100. Rating: strongly undervalued. Calculated from audited financials with 16 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 3, 2026.
How to read this chart
60‑month range 61.20 TWD – 198.19 TWD · fair‑value band 75.88 TWD – 140.92 TWD · the 63.00 TWD price screens below the 108.40 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 3, 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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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 63.00 TWD, while our model-based Fair Value estimate is 108.40 TWD, implying the stock looks roughly 42% undervalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of 134.96 TWD per share, and 12 of the 16 models we run sit above the 63.00 TWD price.
Bear case: the Economic Profit group reads lowest at 65.36 TWD, and 4 of the 16 models stay below the price. Data coverage for this calculation is high.
Scenario range: 75.88 TWD (bear) to 140.92 TWD (bull), the price of 63.00 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 56/100 (solid quality), in the Consumer Cyclical sector.
Mixed Growth: Spin-off in 2020: revenue and profit before it include the divested business. Growth is measured afresh from 2020.
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 12.6B TWD (≈ $386M) Small · P/E ratio 12.8 · P/S ratio 0.67 · EPS (TTM) 4.94 TWD · Dividend yield 8.1% · Net margin 4.5% · Return on equity 7.8% · Return on assets (EBIT) 10.1% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 37 out of 100 (low confidence).
What moves the price
The share trades about 45% below its 52-week high and 3% above 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 72%, 9802 screens cheaper than that median.
Fair Value models
Bear75.88 TWDFair Value 108.40 TWDBull140.92 TWD
Price 63.00 TWD · Upside +72.1%
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.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.55/100
Spin-off in 2020: revenue and profit before it include the divested business. Growth is measured afresh from 2020.
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)
’14
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’16
’17
’18
’19
’20
’21
’22
’23
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’25
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.
+7.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year−0.6%
Dividend (yield on the price)8.1%
Per share before 2020divided by the spin-off factor 1.0143
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.−0.6% vs 7.5%, 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
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.Footwear & Accessories · 92 stocks
Beats the industry median on 10/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score56 · Below median
Fair Value upside+72.1% · Above median
Profitability
Return on equity (12 months)7.8% · Above median
Return on assets5.6% · Above median
Net margin (12 months)4.5% · Below median
Operating margin (12 months)4.2% · Below median
Growth and dividend
Revenue growth (quarter YoY)42.3% · Top 25%
Dividend yield (12 months)8.1% · 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 Nov 3, 2026, our model estimates a fair value of 108.40 TWD versus a price of 63.00 TWD, about +72% 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 Nov 3, 2026), built from audited fundamentals. The current price: 63.00 TWD.
What is the quality score of 9802?
Fulgent Sun International Holding Co Ltd has a Quality Score of 56/100. 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 Nov 3, 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 +72% upside versus a price of 63.00 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 18.9B TWD (latest available figure, as of Nov 3, 2026).
Does Fulgent Sun International Holding Co Ltd pay a dividend?
Fulgent Sun International Holding Co Ltd currently shows a dividend yield of 8.10% relative to its recent price (as of Nov 3, 2026).
How much is the dividend of Fulgent Sun International Holding Co Ltd (9802) and when is the ex-dividend date?
Fulgent Sun International Holding Co Ltd pays a dividend of 5.10 TWD per share a year, a dividend yield of 8.1%. The last ex-dividend date was Sep 10, 2026. The payout ratio is 103% of earnings. Our assessment: Pays more than it earns. The company pays out more in dividends than it earns, and free cash flow clearly does not cover the dividend either. It may need to be cut unless profits recover.
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 Nov 3, 2026), against a price of 63.00 TWD. It is the blended result of 16 valuation models in 6 families (Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings).
Is Fulgent Sun International Holding Co Ltd stock overvalued or undervalued in 2026?
As of Nov 3, 2026, 9802 trades below its calculated fair value: price 63.00 TWD, fair value 108.40 TWD, a gap of about +72% (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 (63.00 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 45.40 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 12.6B TWD (market capitalisation, as of Nov 3, 2026). Per share that is 63.00 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 Nov 3, 2026, price 63.00 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 12.8 (as of Nov 3, 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 0.9, P/S 0.7, EV/EBITDA 5.5.
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 Nov 3, 2026): return on equity 7.8%, debt of 0.02 per unit of equity. They feed the Quality Score of 56/100, 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 63.00 TWD, about 45% below its 52-week high of 115.00 TWD and 3% above the low of 61.20 TWD (as of Nov 6, 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, adidas AG, On Holding, Deckers Outdoor Corporation, 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 Nov 3, 2026: price 63.00 TWD, calculated fair value 108.40 TWD (+72%), Quality Score 56/100, 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 6 families: Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of 108.40 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 13.0% above its aggregate fair value. Fulgent Sun International Holding Co Ltd currently trades 42% 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 Nov 6, 2026 was 63.00 TWD. Our model-based fair value is 108.40 TWD, about +72% 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 (56/100) 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 12.6B TWD (≈ $386M). 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 0.67 (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 Fulgent Sun International Holding Co Ltd (9802)?
Earnings per share at Fulgent Sun International Holding Co Ltd are 4.94 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 Fulgent Sun International Holding Co Ltd (9802)?
The dividend yield of Fulgent Sun International Holding Co Ltd is 8.1% (payout 103%). 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 4.5% (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 Fulgent Sun International Holding Co Ltd (9802)?
The return on equity (ROE) of Fulgent Sun International Holding Co Ltd is 7.8% (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 4.2% (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 +42.3% 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 −53.3% 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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Broad data
Nov 3, 2026