Feng Tay Enterprises Co Ltd (9910) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Feng Tay Enterprises Co Ltd TWD 99.96, price TWD 69.40, upside +44.0%, quality 60 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 24, 2026.
How to read this chart
60‑month range 64.20 TWD – 180.96 TWD · fair‑value band 69.47 TWD – 140.25 TWD · the 69.40 TWD price screens below the 99.96 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
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Feng Tay Enterprises Co., Ltd. manufactures and sells athletic shoes in Singapore, the United States, Mainland China, Switzerland, Mexico, and internationally. The company provides casual shoes, ice skates, ski boots, golf balls, soccer balls, backpacks, ice hockey helmets and clubs, shoe parts, shoe molds, and tools.
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Feng Tay Enterprises Co., Ltd. manufactures and sells athletic shoes in Singapore, the United States, Mainland China, Switzerland, Mexico, and internationally. The company provides casual shoes, ice skates, ski boots, golf balls, soccer balls, backpacks, ice hockey helmets and clubs, shoe parts, shoe molds, and tools. It offers international trade services; manufactures and repairs molds, cutting dies, shoe lasts, and injections, as well as processes metal parts; manufactures and processes plastic products; produces semi-finished footwear, protective gear, and other supporting products, as well as footwear accessories; engages in the wholesale and retail of general merchandise, and provision of related services; and develops industrial parks. The company was founded in 1971 and is headquartered in Douliou City, Taiwan.
Stock analysis
Feng Tay Enterprises Co Ltd (9910) currently trades at 69.40 TWD, while our model-based Fair Value estimate is 99.96 TWD, implying the stock looks roughly 30.6% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 102.98 TWD per share, and 20 of the 26 models we run sit above the 69.40 TWD price.
Bear case: the Asset-Based group reads lowest at 17.51 TWD, and 6 of the 26 models stay below the price. Evidence for this calculation is high.
Scenario range: 69.47 TWD (bear) to 140.25 TWD (bull), the price of 69.40 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 60/100 (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.
Feng Tay Enterprises Co Ltd reported revenue of 83.5B TWD in FY2025 versus 70.3B TWD in FY2021, a compound +4.4%/yr. Reported net income was 5.0B TWD in FY2025, compounding +2.6%/yr from FY2021.
Key figures
Market cap 73.8B TWD (≈ $2.3B) · P/E ratio 15.0 · P/S ratio 0.91 · EPS (TTM) 4.62 TWD · Dividend yield 5.9% · Net margin 6.0% · Return on equity 16.7% · Return on assets (EBIT) 15.3%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 56 out of 100 (medium confidence).
What moves the price
The share trades about 46% below its 52-week high and 8% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at 49% fair-value upside, at 44%, 9910 screens richer than that median.
Fair Value models
Bear 69.47 TWDFair Value 99.96 TWDBull 140.25 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 (0.3804 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
−4.5%
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.
−4.5%
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.
+3.9%
Start year 2020 (pandemic). Over 10 years: +4.1% a year
Revenue growth 25 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.
+6.7%
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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.
+5.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year−0.8%
Dividend (yield on the price)5.9%
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 1%, steady
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%
Start year 2020 (pandemic)
Growth Forecast
Price in line with expectations
The price assumes less growth than the company has delivered so far and about what analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+0.1%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+2.6%
Yearly sales growth analysts expect, extended to five years.
After inflation (Taiwan: IMF forecast 1.6% a year to 2030, 1.5% from 2016 to 2025) that is about −1.5% a year for the price and +1.0% for the forecasts.
Compare Feng Tay Enterprises 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 · 95 stocks
Beats the industry median on 9/15 measures
Overall it ranks above its industry peers.
Valuation
Quality Score60 · Above median
Fair Value upside+54% · Above median
Profitability
Return on equity (TTM)17% · Top 25%
Return on assets8% · Top 25%
Net margin (TTM)6% · Above median
Operating margin (TTM)4% · Below median
Growth and dividend
Revenue growth−7% · Below median
Dividend yield (TTM)5.9% · Top 25%
Balance sheet
Debt / equity0.12× · Above median
Valuation Multiplesvs Footwear & Accessories median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Feng Tay Enterprises Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/9910
Frequently asked questions
Is Feng Tay Enterprises Co Ltd (9910) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 99.96 TWD versus a price of 69.40 TWD, about +44% upside (undervalued).
What is the fair value of 9910?
Our model-based fair value for Feng Tay Enterprises Co Ltd is 99.96 TWD (as of Sep 24, 2026), built from audited fundamentals. The current price: 69.40 TWD.
What is the quality score of 9910?
Feng Tay Enterprises Co Ltd has a Quality Score of 60/100. 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 Feng Tay Enterprises Co Ltd (9910)?
Our model-based price target is the fair value of 99.96 TWD (as of Sep 24, 2026) from 26 valuation models. Cautious scenario 69.47 TWD, optimistic scenario 140.25 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Feng Tay Enterprises Co Ltd stock forecast for 2026?
Our models put fair value at 99.96 TWD, about +44% upside versus a price of 69.40 TWD (undervalued). Cautious scenario 69.47 TWD, optimistic scenario 140.25 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Feng Tay Enterprises Co Ltd (9910)?
Feng Tay Enterprises Co Ltd reported trailing-twelve-month revenue of about 82.0B TWD (latest available figure, as of Sep 24, 2026).
Does Feng Tay Enterprises Co Ltd pay a dividend?
Feng Tay Enterprises Co Ltd currently shows a dividend yield of about 5.91% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Feng Tay Enterprises Co Ltd (9910)?
For today's price to be fair in a discounted-cash-flow model, Feng Tay Enterprises Co Ltd would have to grow free cash flow by +0.1 % per year for five years (discount rate 9.0 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +3.9 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 9910 use?
Our models discount Feng Tay Enterprises Co Ltd at 9.0 %: a base by market capitalisation (mid), damped by beta 0.40, country premium for Taiwan. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Feng Tay Enterprises Co Ltd that is +0.1 % per year a year over ten years, using the same discount rate (9.0 %) and the same formula as our fair value.
How much growth has Feng Tay Enterprises Co Ltd (9910) delivered so far?
Over the past 5 years revenue at Feng Tay Enterprises Co Ltd grew +3.9 % a year. The price currently implies +0.1 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Feng Tay Enterprises Co Ltd (9910) growing?
The median revenue growth in the sector is +2.6 % a year. That is the yardstick for the growth priced into Feng Tay Enterprises Co Ltd (+0.1 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Feng Tay Enterprises Co Ltd (9910)?
The free-cash-flow yield on the price is 7.71 %: that much free cash flow Feng Tay Enterprises Co Ltd produces per unit of market value. When it exceeds the discount rate of our models (9.0 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Feng Tay Enterprises Co Ltd (9910)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Feng Tay Enterprises Co Ltd it is 99.96 TWD per share (as of Sep 24, 2026), against a price of 69.40 TWD. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is Feng Tay Enterprises Co Ltd stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 9910 trades below its calculated fair value: price 69.40 TWD, fair value 99.96 TWD, a gap of about +44% (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 9910?
No. The price is what the market pays today (69.40 TWD); the fair value is what the company's own numbers justify (99.96 TWD). For Feng Tay Enterprises Co Ltd the two are 30.56 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Feng Tay Enterprises Co Ltd worth?
The market values Feng Tay Enterprises Co Ltd at about 73.8B TWD (market capitalisation, as of Sep 24, 2026). Per share that is 69.40 TWD; our models calculate a fair value of 99.96 TWD per share.
What do the bullish and bearish scenarios say about 9910?
Our models span a range for Feng Tay Enterprises Co Ltd: cautious scenario 69.47 TWD, base 99.96 TWD, optimistic 140.25 TWD per share (as of Sep 24, 2026, price 69.40 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 9910?
Feng Tay Enterprises Co Ltd trades at a price-to-earnings ratio of 15.0 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 99.96 TWD is built from several models across several years. Other multiples: PEG 2.1, P/B 2.9, P/S 0.9, EV/EBITDA 7.4.
What is the PEG ratio of 9910?
The PEG ratio of Feng Tay Enterprises Co Ltd is 2.13 (P/E divided by earnings growth, as of Sep 24, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Feng Tay Enterprises Co Ltd (9910)?
Balance-sheet figures for Feng Tay Enterprises Co Ltd (as of Sep 24, 2026): return on equity 16.7%, debt of 0.12 per unit of equity. They feed the Quality Score of 60/100, which measures business quality independently of the share price.
How far is 9910 from its 52-week high?
Feng Tay Enterprises Co Ltd trades at 69.40 TWD, about 46% below its 52-week high of 128.98 TWD and 8% above the low of 64.20 TWD (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 99.96 TWD is for.
Which stocks are comparable to Feng Tay Enterprises 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 Feng Tay Enterprises Co Ltd stock attractive at the current price?
The data as of Sep 24, 2026: price 69.40 TWD, calculated fair value 99.96 TWD (+44%), Quality Score 60/100, from 26 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 9910 calculated?
We run Feng Tay Enterprises Co Ltd through 26 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 99.96 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. Feng Tay Enterprises Co Ltd currently trades 44 % 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 Feng Tay Enterprises Co Ltd (9910)?
The closing price on Sep 24, 2026 was 69.40 TWD. Our model-based fair value is 99.96 TWD, about +44% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Feng Tay Enterprises Co Ltd right now?
Solid quality (60/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (69.47 TWD to 140.25 TWD) leaves room in how you read the outcome.
Where does the earnings growth of Feng Tay Enterprises Co Ltd (9910) come from?
Earnings per share at Feng Tay Enterprises Co Ltd grew +3.1 % a year from 2014 to 2025. Broken into its drivers: revenue per share +5.0 %, EBIT margin −2.2 %, tax rate +0.5 %, residual (interest, one-offs) −0.1 %. 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 Feng Tay Enterprises Co Ltd
How large is the market capitalisation of Feng Tay Enterprises Co Ltd (9910)?
The market capitalisation of Feng Tay Enterprises Co Ltd is 73.8B TWD (≈ $2.3B). 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 Feng Tay Enterprises Co Ltd (9910)?
The price-to-sales ratio of Feng Tay Enterprises Co Ltd is 0.91 (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 Feng Tay Enterprises Co Ltd (9910)?
Earnings per share at Feng Tay Enterprises Co Ltd are 4.62 TWD (price ÷ EPS = P/E 15.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Feng Tay Enterprises Co Ltd (9910)?
The dividend yield of Feng Tay Enterprises Co Ltd is 5.9% (payout 88.7%). 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 Feng Tay Enterprises Co Ltd (9910)?
The net margin of Feng Tay Enterprises Co Ltd is 6.0% (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 Feng Tay Enterprises Co Ltd (9910)?
The return on equity (ROE) of Feng Tay Enterprises Co Ltd is 16.7% (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 Feng Tay Enterprises Co Ltd (9910)?
On an EBIT basis the return on assets of Feng Tay Enterprises Co Ltd is 15.3% (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 Feng Tay Enterprises Co Ltd (9910)?
The operating margin of Feng Tay Enterprises Co Ltd is 4.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Feng Tay Enterprises Co Ltd (9910)?
Revenue at Feng Tay Enterprises Co Ltd is growing −7.2% versus a year earlier (3y avg −4.5%). 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 Feng Tay Enterprises Co Ltd (9910)?
Earnings per share at Feng Tay Enterprises Co Ltd are growing −41.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Feng Tay Enterprises Co Ltd (9910) carry?
The net debt of Feng Tay Enterprises Co Ltd is 1.1B TWD (fiscal year 2025, ≈ 0.2 yrs of FCF). 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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