Tidehold Development Co (9902) Fair Value & Analysis
Real Estate · TW · Market cap 1.3B TWD
Fair value as of: Jul 23, 2026
From 9 valuation models · updated 18 days ago
Share price −0.4% over the past month.
A solid business, but screening 50% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (8.38 TWD). The favourable scenario is already priced in.
- Solid but not exceptional quality (66/100) and above fair value, neither a clear bargain nor a standout compounder.
- As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
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 9.83 TWD – 24.25 TWD · fair‑value band 5.60 TWD – 8.38 TWD · the 13.85 TWD price screens above the 6.99 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 23, 2026.
Analysis
Tidehold Development Co (9902) currently trades at 13.85 TWD, while our model-based Fair Value estimate is 6.99 TWD, implying the stock looks roughly 49.5% overvalued today. The Quality Score stands at 66/100 (solid quality), in the Real Estate 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: medium).
Over the trailing twelve months, Tidehold Development Co generated revenue of 338M TWD at a net margin of -7.7%. Revenue declined 64.0% year over year. It earns a return on equity of -2.2%. The balance sheet holds a net cash position of 231M TWD. Fundamentals as of Jul 23, 2026
Our scenario range runs from 5.60 TWD (bear case) to 8.38 TWD (bull case); at 13.85 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. The share trades about 32% below its 52-week high and 7% above its 52-week low, currently below its 200-day average. For context, the median of 10 Real Estate peers we cover trades at -2% fair-value upside, at -50%, 9902 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 9 models by family
Widest divergence: DCF Models (18.50 TWD) versus Dividend Discount (3.84 TWD). Highest evidence: Growth DCF (80).
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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 67 · Market factors (momentum, volatility) 36
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
Tidehold Development Co., Ltd. engages in the international trading business primarily in Taiwan. The company is also involved in the development, leasing, and sale of residential and buildings; and general investment and leasing businesses.
Full company description
Tidehold Development Co., Ltd. engages in the international trading business primarily in Taiwan. The company is also involved in the development, leasing, and sale of residential and buildings; and general investment and leasing businesses. In addition, it offers electric and fuel-powered garbage truck services; and sells imported vehicles, environmental sanitation and cleaning vehicles, and construction materials. The company was formerly known as Tidehold co., ltd. and changed its name to Tidehold Development Co., Ltd. in 1998. Tidehold Development Co., Ltd. was incorporated in 1940 and is based in Taipei, Taiwan.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Tidehold Development Co reported revenue of 379M TWD in FY2025 versus 424M TWD in FY2021, a compound −2.8%/yr. Reported net income was −46.0M TWD in FY2025.
9902 screens 50% overvalued. Compare with Vingroup Joint Stock Company →
Peer Group
Real Estate Services · 520 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 Real Estate Services 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 Real Estate Services stocks, each showing price versus our Fair Value estimate (as of Jul 23, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Vingroup Joint Stock Company VIC | 223,000 VND | 25,731 VND | -88% |
| KE Holdings 2423 | HK$44.76 | HK$18.03 | -60% |
| Swire Properties Limited 1972 | HK$23.90 | HK$18.75 | -22% |
| Plaza S.A MALLPLAZA | 3,725 CLP | 5,571 CLP | +50% |
| SAGAA SAGAA | kr 170.00 | kr 75.55 | -56% |
| Cencosud Shopping S.A CENCOMALLS | 2,324 CLP | 2,976 CLP | +28% |
| PT Sarana Menara Nusantara Tbk. owns and TOWR | 372.00 IDR | 1,208 IDR | +225% |
| PT Metropolitan Kentjana Tbk MKPI | 20,975 IDR | 19,160 IDR | -9% |
| PT Bangun Kosambi Sukses Tbk, CBDK | 3,530 IDR | 3,464 IDR | -2% |
| IRSA Inversiones y Representaciones Sociedad Anónima, IRSA | 2,495 ARS | 3,998 ARS | +60% |
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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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