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Giant Manufacturing Co Ltd (9921) fair value: what the stock is really worth

As of Nov 6, 2026: fair value (intrinsic value) of Giant Manufacturing Co Ltd stock TWD 34.86, price TWD 89.70, that is 61.1% below the price, quality 50 out of 100. Rating: strongly overvalued. Calculated from audited financials with 25 of our 26 valuation models and 37 quality factors, updated daily.

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Consumer Cyclical TW · ISIN TW0009921007

GM Giant Manufacturing Co Ltd logo Some data Nov 7, 2026

Giant Manufacturing Co Ltd

9921 · TW
Very expensive, in a downtrend

Our calculation puts a fair price 61% below what the stock costs today.

Low debt
Generates free cash flow
2.0% dividend yield · Sustainable
Quality 50/100
Thin margins · 1.1% net margin (TTM)
Mixed vs. peers (6/15)
Some data
Fair value 34.86 TWD · Strongly overvalued (−61.1%)
Weak Growth (revenue 5y −3.0 %/yr in TWD)
Narrow moat 28/100 · thin data
⚠ Dilution
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Price vs Fair Value

335.93 TWD 65.30 TWD Fair Value 34.86 TWD Jun 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 7, 2026.

How to read this chart

60‑month range 65.30 TWD – 335.93 TWD · fair‑value band 26.14 TWD – 43.57 TWD · the 89.70 TWD price screens above the 34.86 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 7, 2026.

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Company profile

Giant Manufacturing Co., Ltd., together with its subsidiaries, engages in the manufacture and sale of bicycles and electric bicycles in Taiwan, the United States, Europe, Asia, and internationally.

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The company offers bikes products, such as road racing, triathlon racing bikes, flat handlebar road bike, sport commuter car, folding bicycle, and E+ road bike; dual-shock mountain bike, single-suspension mountain bike, mountain bike, E+ off-road mountain bike; gravel road bike, crossover multi-functional bicycle, E+ mixed-road vehicle; and children's balance bike.

It also provides accessories, including inner garment, sunglasses, gloves, helmet, bicycle jacket, shoes, cycling pants, raincoat, windproof vest, sleeves and leg covers, shoe covers, headscarves and caps, sock, apparel, power meter, bicycle speedometer, bicycle child seats, bicycle lights, bicycle lock, car bags, automotive parts, training platform, shelves, air pump, mini tools, tubeless tire accessories, lubricating oil and cleaning agent, hand grip and handle strap, tire, cushion, seatpost, handle, driver's cup assembly, driver pole, parking rack, braking system, electric vehicle parts, pedal, and wheelset products.

It offers its products through retail stores. Giant Manufacturing Co., Ltd. was founded in 1961 and is headquartered in Taichung, Taiwan.

Stock analysis

Giant Manufacturing Co Ltd (9921) currently trades at 89.70 TWD, while our model-based Fair Value estimate is 34.86 TWD, 61% below the price, so the stock looks overvalued today.

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Valuation

Bull case: the Growth DCF group reads highest at a median of 245.16 TWD per share, and 12 of the 25 models we run sit above the 89.70 TWD price.

Bear case: the Asset-Based group reads lowest at 25.61 TWD, and 13 of the 25 models stay below the price. Data coverage for this calculation is medium.

Scenario range: 26.14 TWD (bear) to 43.57 TWD (bull), the price of 89.70 TWD sits above 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 50/100 (solid quality), in the Consumer Cyclical sector.

Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.

Giant Manufacturing Co Ltd reported revenue of 60.3B TWD in FY2025 versus 81.8B TWD in FY2021, a compound −7.4%/yr. Reported net income was 723M TWD in FY2025, compounding −40.9%/yr from FY2021.

Key figures

Market cap 39.7B TWD (≈ $1.2B) Small · P/E ratio 58.2 · P/S ratio 0.70 · EPS (TTM) 1.54 TWD · Dividend yield 2.0% · Net margin 1.1% · Return on equity 2.3% · Return on assets (EBIT) 6.3% (5-year average).

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 28 out of 100 (low confidence).

What moves the price

The last reported earnings sit well below what analysts expect (earnings in transition, for example after write-downs or an earnings dip); whether the stock is cheap or expensive hinges on the expected recovery actually arriving. Read the fair value with that caveat.

The share trades about 20% below its 52-week high and 37% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Consumer Cyclical peers we cover trades at 10% fair-value upside, at −61%, 9921 screens richer than that median.

Fair Value models

Bear 26.14 TWD Fair Value 34.86 TWD Bull 43.57 TWD
Price 89.70 TWD · Downside -61.1%
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.
Best data coverage
FCF DCF 254.63 TWD 338.65 TWD 444.80 TWD 82
Growth DCF 259.10 TWD 335.83 TWD 428.55 TWD 80
Owner Earnings 107.61 TWD 138.50 TWD 177.53 TWD 78
All 25 models by family
DCF Models
FCF DCF 254.63 TWD 338.65 TWD 444.80 TWD 82
Owner Earnings 107.61 TWD 138.50 TWD 177.53 TWD 78
5Y Revenue Exit 130.60 TWD 149.46 TWD 169.34 TWD 74
5Y EBITDA Exit 160.22 TWD 202.05 TWD 246.53 TWD 77
5Y P/E Exit 132.46 TWD 152.77 TWD 171.33 TWD 72
10Y Revenue Exit 179.65 TWD 205.47 TWD 232.30 TWD 68
10Y EBITDA Exit 197.49 TWD 238.49 TWD 284.50 TWD 70
10Y P/E Exit 181.36 TWD 207.55 TWD 233.65 TWD 65
Earnings-Based
Graham-Dodd 12.67 TWD 29.56 TWD 38.00 TWD 65
PEG = 1.0 5.04 TWD 7.19 TWD 9.35 TWD 57
EPV 34.10 TWD 35.79 TWD 37.21 TWD 74
Dividend Discount
Gordon GGM 17.81 TWD 27.99 TWD 38.33 TWD 68
DDM Multi-Stage 17.81 TWD 25.07 TWD 32.23 TWD 67
Multiples
P/E Multiple 30.75 TWD 41.01 TWD 51.26 TWD 63
P/S Multiple 23.77 TWD 31.69 TWD 39.61 TWD 58
P/B Multiple 192.55 TWD 256.74 TWD 320.92 TWD 55
EV/EBIT 30.84 TWD 43.37 TWD 55.91 TWD 65
EV/EBITDA 77.53 TWD 105.63 TWD 133.74 TWD 67
EV/Revenue 18.58 TWD 29.44 TWD 40.31 TWD 53
Asset-Based
NCAV (Graham) 16.90 TWD 25.61 TWD 32.01 TWD 54
Growth DCF
Growth DCF 259.10 TWD 335.83 TWD 428.55 TWD 80
Rev-Margin DCF 130.60 TWD 154.48 TWD 182.26 TWD 74
Economic Profit
Residual Income 55.75 TWD 56.79 TWD 59.55 TWD 76
ROIC Compounder 34.10 TWD 35.79 TWD 37.21 TWD 72
Growth Earnings
Growth-Adj P/E 23.16 TWD 33.08 TWD 43.00 TWD 67

The fair value above starts from this blend and is adjusted for dilution from new shares.

Open the full fair value analysis →

Quality Score breakdown

Overall quality 50/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 30
How much profit the company makes from its sales and capital
Quality Growth 27
Are margins and returns getting better?
Cashflow 80
Do the profits arrive as real cash?
Financial strength 56
Debt, balance sheet and risk of trouble
Investment 98
Does it invest with discipline instead of growing at any price?
Low Volatility 69
How calm the share price moves, does not count
Price momentum 49
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 33
Distance to the 52-week high, does not count
New shares 28
Buys back shares or issues new ones?

Open the full quality analysis →

Revenue & earnings trend

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 is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−15.5%
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.
−13.2%
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.
−3.0%
Start year 2020 (pandemic). Over 10 years: +0.0% 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.
+6.0%
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.
−30.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year−32.4%
Dividend (yield on the price)2.0%
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.−32.4% vs −15.7%, 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% → 2%
Pace: the 5-year rate starts in 2020 (pandemic)

Growth Forecast

Little optimism in the price
The price assumes less growth than the company has delivered so far and less than 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).
−17.2%
The company could shrink this much every year for the next five years and today's price would still be justified.
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.
+7.0%
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 −18.5% a year for the price and +5.4% for the forecasts.
Forecast 2026 (sales)−1.4%
Forecast 2027 (sales)+10.9%
Projected 2028 (sales)+9.8%
Projected 2029 (sales)+8.7%
Projected 2030 (sales)+7.6%

9921 screens overvalued: fair value 61% below the price. Compare with Pop Mart International Group →

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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.Leisure · 169 stocks

Beats the industry median on 6/15 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 50 · Below median
Fair Value upside −61.1% · Bottom 25%
Profitability
Return on equity (12 months) 2.3% · Below median
Return on assets 1.0% · Below median
Net margin (12 months) 1.1% · Below median
Operating margin (12 months) 6.0% · Below median
Growth and dividend
Revenue growth (quarter YoY) 5.8% · Above median
Dividend yield (12 months) 2.0% · Below median
Balance sheet
Debt / equity 0.11× · Below median

Valuation Multiplesvs Leisure median · lower = cheaper

P/E (12 months) 58.2× · Priciest 25%
P/B 1.17× · Cheaper than median
P/S (12 months) 0.70× · Cheaper than median
Price / free cash flow (fiscal year) 4.2× · Cheapest 25%
EV/EBITDA 11.0× · Pricier than median
PEG 0.13× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 41
FUTURE (revenue growth)29 · sector 27
PAST (return on equity)9 · sector 25
HEALTH (low debt)95 · sector 94
DIVIDEND (yield)40 · sector 52

VALUE 0: the price sits above our fair-value range.

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Leisure stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Li Ning Company 2331 HK$15.48 HK$29.46 +90% vs 9921
Ninebot Limited 689009 ¥34.77 ¥52.88 +52% vs 9921
Pop Mart International Group 9992 HK$141.90 HK$207.44 +46% vs 9921
Mattel, Inc MAT $15.35 $22.25 +45% vs 9921
Planet Fitness, Inc PLNT $60.31 $66.34 +10% vs 9921
Fluidra, S.A FDR €19.32 €21.25 +10% vs 9921
Amer Sports, Inc AS $31.47 $19.17 −39% vs 9921
Acushnet Holdings GOLF $80.74 $44.21 −45% vs 9921
Life Time Group LTH $47.12 $16.00 −66% vs 9921
Hasbro, Inc HAS $118.91 $32.71 −72% vs 9921

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Giant Manufacturing Co Ltd: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "Giant Manufacturing Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/9921

Frequently asked questions

Is Giant Manufacturing Co Ltd (9921) overvalued or undervalued?
As of Nov 7, 2026, our model estimates a fair value of 34.86 TWD versus a price of 89.70 TWD, about 61% lower (overvalued).
What is the fair value of 9921?
Our model-based fair value for Giant Manufacturing Co Ltd is 34.86 TWD (as of Nov 7, 2026), built from audited fundamentals. The current price: 89.70 TWD.
What is the quality score of 9921?
Giant Manufacturing Co Ltd has a Quality Score of 50/100. 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 Giant Manufacturing Co Ltd (9921)?
Our model-based price target is the fair value of 34.86 TWD (as of Nov 7, 2026) from 25 valuation models. Cautious scenario 26.14 TWD, optimistic scenario 43.57 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Giant Manufacturing Co Ltd stock forecast for 2026?
Our models put fair value at 34.86 TWD, about 61% lower versus a price of 89.70 TWD (overvalued). Cautious scenario 26.14 TWD, optimistic scenario 43.57 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Giant Manufacturing Co Ltd (9921)?
Giant Manufacturing Co Ltd reported trailing-twelve-month revenue of about 56.8B TWD (latest available figure, as of Nov 7, 2026).
Does Giant Manufacturing Co Ltd pay a dividend?
Giant Manufacturing Co Ltd currently shows a dividend yield of 2.01% relative to its recent price (as of Nov 7, 2026).
How much is the dividend of Giant Manufacturing Co Ltd (9921) and when is the ex-dividend date?
Giant Manufacturing Co Ltd pays a dividend of 1.80 TWD per share a year, a dividend yield of 2.0%. The last ex-dividend date was Aug 25, 2026. The payout ratio is 117% of earnings. Free cash flow covers the dividend 13.64 times. Our assessment: Sustainable. Payout and cash coverage both look sustainable.
What growth is priced into Giant Manufacturing Co Ltd (9921)?
For today's price to be fair in a discounted-cash-flow model, Giant Manufacturing Co Ltd would have to grow free cash flow by -17.2 % per year for five years (discount rate 10.6 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -3.0 % per year. As of Nov 7, 2026.
What discount rate (WACC) does the fair value of 9921 use?
Our models discount Giant Manufacturing Co Ltd at 10.6 %: a base by market capitalisation (small), damped by beta 0.60, 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 Giant Manufacturing Co Ltd that is -17.2 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (10.6 %) and the same formula as our fair value.
How much growth has Giant Manufacturing Co Ltd (9921) delivered so far?
Over the past 5 years revenue at Giant Manufacturing Co Ltd grew -3.0 % a year. The price currently implies free-cash-flow growth of -17.2 % per 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 Giant Manufacturing Co Ltd (9921) growing?
The median revenue growth in the sector is +4.7 % a year. That is the yardstick for the growth priced into Giant Manufacturing Co Ltd (-17.2 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Giant Manufacturing Co Ltd (9921)?
The free-cash-flow yield on the price is 23.98 %: that much free cash flow Giant Manufacturing Co Ltd produces per unit of market value. When it exceeds the discount rate of our models (10.6 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Giant Manufacturing Co Ltd (9921)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Giant Manufacturing Co Ltd it is 34.86 TWD per share (as of Nov 7, 2026), against a price of 89.70 TWD. It is the blended result of 25 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Giant Manufacturing Co Ltd stock overvalued or undervalued in 2026?
As of Nov 7, 2026, 9921 trades above its calculated fair value: price 89.70 TWD, fair value 34.86 TWD, a gap of about −61% (overvalued). 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 9921?
No. The price is what the market pays today (89.70 TWD); the fair value is what the company's own numbers justify (34.86 TWD). For Giant Manufacturing Co Ltd the two are 54.84 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Giant Manufacturing Co Ltd worth?
The market values Giant Manufacturing Co Ltd at about 39.7B TWD (market capitalisation, as of Nov 7, 2026). Per share that is 89.70 TWD; our models calculate a fair value of 34.86 TWD per share.
What do the bullish and bearish scenarios say about 9921?
Our models span a range for Giant Manufacturing Co Ltd: cautious scenario 26.14 TWD, base 34.86 TWD, optimistic 43.57 TWD per share (as of Nov 7, 2026, price 89.70 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 9921?
Giant Manufacturing Co Ltd trades at a price-to-earnings ratio of 58.2 (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 34.86 TWD is built from several models across several years. Median P/E at fiscal year-end, 10 fiscal years (2016 to 2025), reported earnings, FY2025 ex one-offs: 22.6. Other multiples: PEG 0.1, P/B 1.2, P/S 0.7, EV/EBITDA 11.0.
What is the PEG ratio of 9921?
The PEG ratio of Giant Manufacturing Co Ltd is 0.13 (P/E divided by earnings growth, as of Nov 7, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Giant Manufacturing Co Ltd (9921)?
Balance-sheet figures for Giant Manufacturing Co Ltd (as of Nov 7, 2026): return on equity 2.3%, debt of 0.11 per unit of equity. They feed the Quality Score of 50/100, which measures business quality independently of the share price.
How far is 9921 from its 52-week high?
Giant Manufacturing Co Ltd trades at 89.70 TWD, about 20% below its 52-week high of 111.50 TWD and 37% above the low of 65.30 TWD (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 34.86 TWD is for.
Which stocks are comparable to Giant Manufacturing Co Ltd?
From the same area (Consumer Cyclical) we also value Pop Mart International Group, Amer Sports, Inc, Hasbro, Inc, Life Time 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 Giant Manufacturing Co Ltd stock attractive at the current price?
The data as of Nov 7, 2026: price 89.70 TWD, calculated fair value 34.86 TWD (−61%), Quality Score 50/100, from 25 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 9921 calculated?
We run Giant Manufacturing Co Ltd through 25 models from 8 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of 34.86 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. Giant Manufacturing Co Ltd itself currently trades above fair value. 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 Giant Manufacturing Co Ltd (9921)?
The closing price on Nov 6, 2026 was 89.70 TWD. Our model-based fair value is 34.86 TWD, about 61% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Giant Manufacturing Co Ltd right now?
The price sits above even our optimistic bull case (43.57 TWD). The favourable scenario is already priced in. Solid but not exceptional quality (50/100) and above fair value, neither a clear bargain nor a standout compounder.
Where does the earnings growth of Giant Manufacturing Co Ltd (9921) come from?
Earnings per share at Giant Manufacturing Co Ltd grew −8.3 % a year from 2014 to 2025. Broken into its drivers: revenue per share +1.1 %, EBIT margin −7.8 %, tax rate −1.1 %, residual (interest, one-offs) −0.5 %. 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 Giant Manufacturing Co Ltd

How large is the market capitalisation of Giant Manufacturing Co Ltd (9921)?
The market capitalisation of Giant Manufacturing Co Ltd is 39.7B TWD (≈ $1.2B). 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 Giant Manufacturing Co Ltd (9921)?
The price-to-sales ratio of Giant Manufacturing Co Ltd is 0.70 (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 Giant Manufacturing Co Ltd (9921)?
Earnings per share at Giant Manufacturing Co Ltd are 1.54 TWD (price ÷ EPS = P/E 58.2). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Giant Manufacturing Co Ltd (9921)?
The dividend yield of Giant Manufacturing Co Ltd is 2.0% (payout 117%). 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 Giant Manufacturing Co Ltd (9921)?
The net margin of Giant Manufacturing Co Ltd is 1.1% (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 Giant Manufacturing Co Ltd (9921)?
The return on equity (ROE) of Giant Manufacturing Co Ltd is 2.3% (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 Giant Manufacturing Co Ltd (9921)?
On an EBIT basis the return on assets of Giant Manufacturing Co Ltd is 6.3% (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 Giant Manufacturing Co Ltd (9921)?
The operating margin of Giant Manufacturing Co Ltd is 6.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Giant Manufacturing Co Ltd (9921)?
Revenue at Giant Manufacturing Co Ltd is growing +5.8% versus a year earlier (3y avg −13.2%). 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 Giant Manufacturing Co Ltd (9921)?
Earnings per share at Giant Manufacturing Co Ltd are growing +238% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Giant Manufacturing Co Ltd (9921) carry?
The net debt of Giant Manufacturing Co Ltd is 2.6B TWD (fiscal year 2025, ≈ 0.3 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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