Hsin Ba Ba Corp (9906) fair value: what the stock is really worth
As of Nov 9, 2026: fair value (intrinsic value) of Hsin Ba Ba Corp stock TWD 64.31, price TWD 35.65, upside +80.4%, quality 37 out of 100. Rating: strongly undervalued. Calculated from audited financials with 9 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 7, 2026.
How to read this chart
60‑month range 31.90 TWD – 191.33 TWD · fair‑value band 48.23 TWD – 80.39 TWD · the 35.65 TWD price screens below the 64.31 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 3 fiscal years are left out: there the valuation rested on only a fraction of the usual models. As of Nov 7, 2026.
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Hsin Ba Ba Corporation, together with its subsidiary, engages in the development, sale, and rental of public housing and commercial buildings in Taiwan. It is also involved in printing on metal, glass, and aluminum foil; and the manufacture, processing, and trading of paper containers and parts.
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The company was incorporated in 1967 and is headquartered in Kaohsiung, Taiwan.
Stock analysis
Hsin Ba Ba Corp (9906) currently trades at 35.65 TWD, while our model-based Fair Value estimate is 64.31 TWD, implying the stock looks roughly 45% undervalued today.
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Valuation
Bull case: the Dividend Discount group reads highest at a median of 51.67 TWD per share, and 3 of the 9 models we run sit above the 35.65 TWD price.
Bear case: the Economic Profit group reads lowest at 7.98 TWD, and 6 of the 9 models stay below the price. Data coverage for this calculation is high.
Scenario range: 48.23 TWD (bear) to 80.39 TWD (bull), the price of 35.65 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 37/100 (below-average quality), in the Industrials sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Hsin Ba Ba Corp reported revenue of 1.3B TWD in FY2025 versus 1.4B TWD in FY2021, a compound −2.2%/yr. Reported net income was 8.5M TWD in FY2025, compounding −57.5%/yr from FY2021.
Key figures
Market cap 3.2B TWD (≈ $98.2M) Micro · P/E ratio 10.8 · P/S ratio 1.46 · EPS (TTM) 3.31 TWD · Net margin 14.1% · Return on equity 22.8% · Return on assets (EBIT) 5.0% (5-year average) · Operating margin 16.0%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 54 out of 100 (medium confidence).
What moves the price
The share trades about 33% below its 52-week high and 12% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −42% fair-value upside, at 80%, 9906 screens cheaper than that median.
Fair Value models
The price assumes far more growth than our models allow for, so the models scatter widely (1.12 TWD to 65.32 TWD). Read the Fair Value as a cautious anchor, not a price target; the Growth Forecast section shows what the price assumes.
Bear48.23 TWDFair Value 64.31 TWDBull80.39 TWD
Price 35.65 TWD · Upside +80.4%
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 (2.84 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.40/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
−70.4%
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.
−24.2%
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.
+50.5%
Start year 2020 (pandemic). Over 10 years: +5.4% 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.
−3.1%
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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.
−50.9%
Earnings growth per share plus dividend.
Earnings per share, growth per year−50.9%
Dividend (yield on the price)0.0%
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.−50.9% vs −16.6%, 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.−32% → 6%
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.Engineering & Construction · 791 stocks
Beats the industry median on 7/13 measures
A mixed picture versus its industry peers.
Valuation
Quality Score37 · Bottom 25%
Fair Value upside+80.4% · Top 25%
Profitability
Return on equity (12 months)22.8% · Top 25%
Return on assets0.1% · Bottom 25%
Net margin (12 months)14.1% · Top 25%
Operating margin (12 months)16.0% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)118.7% · Top 25%
Dividend yield (12 months)17.1% · Top 25%
Balance sheet
Debt / equity1.16× · Highest 25%
Valuation Multiplesvs Engineering & Construction 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). "Hsin Ba Ba Corp Fair Value". https://www.fairvalue-calculator.com/stock/9906
Frequently asked questions
Is Hsin Ba Ba Corp (9906) overvalued or undervalued?
As of Nov 7, 2026, our model estimates a fair value of 64.31 TWD versus a price of 35.65 TWD, about +80% upside (undervalued).
What is the fair value of 9906?
Our model-based fair value for Hsin Ba Ba Corp is 64.31 TWD (as of Nov 7, 2026), built from audited fundamentals. The current price: 35.65 TWD.
What is the quality score of 9906?
Hsin Ba Ba Corp has a Quality Score of 37/100. 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 Hsin Ba Ba Corp (9906)?
Our model-based price target is the fair value of 64.31 TWD (as of Nov 7, 2026) from 9 valuation models. Cautious scenario 48.23 TWD, optimistic scenario 80.39 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Hsin Ba Ba Corp stock forecast for 2026?
Our models put fair value at 64.31 TWD, about +80% upside versus a price of 35.65 TWD (undervalued). Cautious scenario 48.23 TWD, optimistic scenario 80.39 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Hsin Ba Ba Corp (9906)?
Hsin Ba Ba Corp reported trailing-twelve-month revenue of about 2.2B TWD (latest available figure, as of Nov 7, 2026).
What is the intrinsic value of Hsin Ba Ba Corp (9906)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Hsin Ba Ba Corp it is 64.31 TWD per share (as of Nov 7, 2026), against a price of 35.65 TWD. It is the blended result of 9 valuation models in 6 families (Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings).
Is Hsin Ba Ba Corp stock overvalued or undervalued in 2026?
As of Nov 7, 2026, 9906 trades below its calculated fair value: price 35.65 TWD, fair value 64.31 TWD, a gap of about +80% (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 9906?
No. The price is what the market pays today (35.65 TWD); the fair value is what the company's own numbers justify (64.31 TWD). For Hsin Ba Ba Corp the two are 28.66 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Hsin Ba Ba Corp worth?
The market values Hsin Ba Ba Corp at about 3.2B TWD (market capitalisation, as of Nov 7, 2026). Per share that is 35.65 TWD; our models calculate a fair value of 64.31 TWD per share.
What do the bullish and bearish scenarios say about 9906?
Our models span a range for Hsin Ba Ba Corp: cautious scenario 48.23 TWD, base 64.31 TWD, optimistic 80.39 TWD per share (as of Nov 7, 2026, price 35.65 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 9906?
Hsin Ba Ba Corp trades at a price-to-earnings ratio of 10.8 (as of Nov 7, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 64.31 TWD is built from several models across several years. Other multiples: P/B 2.4, P/S 1.5, EV/EBITDA 9.9.
How solid is the balance sheet of Hsin Ba Ba Corp (9906)?
Balance-sheet figures for Hsin Ba Ba Corp (as of Nov 7, 2026): return on equity 22.8%, debt of 1.16 per unit of equity. They feed the Quality Score of 37/100, which measures business quality independently of the share price.
How far is 9906 from its 52-week high?
Hsin Ba Ba Corp trades at 35.65 TWD, about 33% below its 52-week high of 53.40 TWD and 12% above the low of 31.90 TWD (as of Nov 9, 2026). Distance from the high says nothing about value: that is what the fair value of 64.31 TWD is for.
Which stocks are comparable to Hsin Ba Ba Corp?
From the same area (Industrials) we also value Quanta Services, Inc, Vinci SA, Larsen & Toubro Limited, Comfort Systems USA, 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 Hsin Ba Ba Corp stock attractive at the current price?
The data as of Nov 7, 2026: price 35.65 TWD, calculated fair value 64.31 TWD (+80%), Quality Score 37/100, from 9 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 9906 calculated?
We run Hsin Ba Ba Corp through 9 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 64.31 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. Hsin Ba Ba Corp currently trades 45% 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 Hsin Ba Ba Corp (9906)?
The closing price on Nov 9, 2026 was 35.65 TWD. Our model-based fair value is 64.31 TWD, about +80% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Hsin Ba Ba Corp right now?
The large discount to fair value meets weak quality (37/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case (48.23 TWD). The market is more pessimistic than our downside scenario.
Where does the earnings growth of Hsin Ba Ba Corp (9906) come from?
Earnings per share at Hsin Ba Ba Corp grew +26.3 % a year from 2015 to 2025. Broken into its drivers: revenue per share +16.0 %, EBIT margin +8.1 %, tax rate −3.1 %, residual (interest, one-offs) +3.9 %. 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 Hsin Ba Ba Corp
How large is the market capitalisation of Hsin Ba Ba Corp (9906)?
The market capitalisation of Hsin Ba Ba Corp is 3.2B TWD (≈ $98.2M). 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 Hsin Ba Ba Corp (9906)?
The price-to-sales ratio of Hsin Ba Ba Corp is 1.46 (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 Hsin Ba Ba Corp (9906)?
Earnings per share at Hsin Ba Ba Corp are 3.31 TWD (price ÷ EPS = P/E 10.8). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Hsin Ba Ba Corp (9906)?
The net margin of Hsin Ba Ba Corp is 14.1% (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 Hsin Ba Ba Corp (9906)?
The return on equity (ROE) of Hsin Ba Ba Corp is 22.8% (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 Hsin Ba Ba Corp (9906)?
On an EBIT basis the return on assets of Hsin Ba Ba Corp is 5.0% (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 Hsin Ba Ba Corp (9906)?
The operating margin of Hsin Ba Ba Corp is 16.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Hsin Ba Ba Corp (9906)?
Revenue at Hsin Ba Ba Corp is growing +119% versus a year earlier (3y avg −24.2%). 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 Hsin Ba Ba Corp (9906)?
Earnings per share at Hsin Ba Ba Corp are growing −22.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Hsin Ba Ba Corp (9906) generate?
The free cash flow of Hsin Ba Ba Corp is −1.6B 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 Hsin Ba Ba Corp (9906) carry?
The net debt of Hsin Ba Ba Corp is 6.6B 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 7, 2026