Choice Development Inc (9929) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Choice Development Inc TWD 16.01, price TWD 10.90, upside +46.9%, quality 62 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Choice Development, Inc., doing business as Choice Printing Group, operates as a publication printer in Taiwan. It operates through the Printing, Advertising, Innovation, and Development segments.
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Choice Development, Inc., doing business as Choice Printing Group, operates as a publication printer in Taiwan. It operates through the Printing, Advertising, Innovation, and Development segments. The company engages in printing; paper folding and binding; photography; design; retail sale of medical equipment; general advertising services; and industrial factory development and rental. It also provides general advertising services; housing and building development and rental; and pre-press services, including CTP and FTP. In addition, the company offers print services, such as sheeting machine; post-processing, various origami, rolling, pasting, embossing, debossing, and scratch cards, as well as thermal paper, gift vouchers, labels, and stickers. Further, it provides binding services comprising saddle stitch and glue binding; packaging, shrink film, and self-adhesive bags; square and round back hardcover; double iron coil binding; different types of varnishing that include water-based, UV, surface PP, hot stamping, and embossing; and manual processing services. Choice Development, Inc. was founded in 1946 and is headquartered in Taipei, Taiwan.
Stock analysis
Choice Development Inc (9929) currently trades at 10.90 TWD, while our model-based Fair Value estimate is 16.01 TWD, implying the stock looks roughly 31.9% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 21.84 TWD per share, and 8 of the 14 models we run sit above the 10.90 TWD price.
Bear case: the Earnings-Based group reads lowest at 3.87 TWD, and 6 of the 14 models stay below the price. Evidence for this calculation is low.
Scenario range: 10.72 TWD (bear) to 21.30 TWD (bull), the price of 10.90 TWD sits inside 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 62/100 (solid 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.
Choice Development Inc reported revenue of 650M TWD in FY2025 versus 591M TWD in FY2021, a compound +2.4%/yr. Reported net income was −6.9M TWD in FY2025.
Key figures
Market cap 1.1B TWD (≈ $33.9M) · P/S ratio 1.75 · EPS (TTM) −0.0700 TWD · Net margin −1.1% · Return on equity 3.2% · Return on assets (EBIT) 0.3% · Operating margin 12.0% · Revenue (TTM) 646M TWD.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (low confidence).
What moves the price
The share trades about 27% below its 52-week high and 10% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at 0% fair-value upside, at 47%, 9929 screens cheaper than that median.
Fair Value models
Bear 10.72 TWDFair Value 16.01 TWDBull 21.30 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.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.37/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
−0.7%
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.
+2.5%
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.
−2.8%
Start year 2020 (pandemic). Over 10 years: −1.8% 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.
−5.0%
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Profit margin (trend) ⓘ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.
3.5% (2020) → 2.2% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far.
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).
−14.3%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Taiwan: IMF forecast 1.6% a year to 2030, 1.5% from 2016 to 2025) that is about −15.6% a year for the price.
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.Specialty Business Services · 248 stocks
Beats the industry median on 7/10 measures
Overall it ranks above its industry peers.
Valuation
Quality Score62 · Above median
Fair Value upside+47% · Above median
Profitability
Return on equity (TTM)3% · Below median
Return on assets1% · Below median
Net margin (TTM)4% · Above median
Operating margin (TTM)12% · Above median
Growth and dividend
Revenue growth−2% · Below median
Balance sheet
Debt / equity0.01× · Below median
Valuation Multiplesvs Specialty Business Services 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). "Choice Development Inc Fair Value". https://www.fairvalue-calculator.com/stock/9929
Frequently asked questions
Is Choice Development Inc (9929) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 16.01 TWD versus a price of 10.90 TWD, about +47% upside (undervalued).
What is the fair value of 9929?
Our model-based fair value for Choice Development Inc is 16.01 TWD (as of Sep 24, 2026), built from audited fundamentals. The current price: 10.90 TWD.
What is the quality score of 9929?
Choice Development Inc has a Quality Score of 62/100. 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 Choice Development Inc (9929)?
Our model-based price target is the fair value of 16.01 TWD (as of Sep 24, 2026) from 14 valuation models. Cautious scenario 10.72 TWD, optimistic scenario 21.30 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Choice Development Inc stock forecast for 2026?
Our models put fair value at 16.01 TWD, about +47% upside versus a price of 10.90 TWD (undervalued). Cautious scenario 10.72 TWD, optimistic scenario 21.30 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Choice Development Inc (9929)?
Choice Development Inc reported trailing-twelve-month revenue of about 646M TWD (latest available figure, as of Sep 24, 2026).
What growth is priced into Choice Development Inc (9929)?
For today's price to be fair in a discounted-cash-flow model, Choice Development Inc would have to grow free cash flow by -14.3 % per year for five years (discount rate 10.3 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -2.8 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 9929 use?
Our models discount Choice Development Inc at 10.3 %: a base by market capitalisation (nano), 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 Choice Development Inc that is -14.3 % per year a year over ten years, using the same discount rate (10.3 %) and the same formula as our fair value.
How much growth has Choice Development Inc (9929) delivered so far?
Over the past 5 years revenue at Choice Development Inc grew -2.8 % a year. The price currently implies -14.3 % 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 Choice Development Inc (9929) growing?
The median revenue growth in the sector is +4.7 % a year. That is the yardstick for the growth priced into Choice Development Inc (-14.3 % 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 Choice Development Inc (9929)?
The free-cash-flow yield on the price is 13.72 %: that much free cash flow Choice Development Inc produces per unit of market value. When it exceeds the discount rate of our models (10.3 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Choice Development Inc (9929)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Choice Development Inc it is 16.01 TWD per share (as of Sep 24, 2026), against a price of 10.90 TWD. It is the blended result of 14 valuation models (cash flow, earnings, asset, dividend).
Is Choice Development Inc stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 9929 trades below its calculated fair value: price 10.90 TWD, fair value 16.01 TWD, a gap of about +47% (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 9929?
No. The price is what the market pays today (10.90 TWD); the fair value is what the company's own numbers justify (16.01 TWD). For Choice Development Inc the two are 5.11 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Choice Development Inc worth?
The market values Choice Development Inc at about 1.1B TWD (market capitalisation, as of Sep 24, 2026). Per share that is 10.90 TWD; our models calculate a fair value of 16.01 TWD per share.
What do the bullish and bearish scenarios say about 9929?
Our models span a range for Choice Development Inc: cautious scenario 10.72 TWD, base 16.01 TWD, optimistic 21.30 TWD per share (as of Sep 24, 2026, price 10.90 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Choice Development Inc (9929)?
Balance-sheet figures for Choice Development Inc (as of Sep 24, 2026): return on equity 3.2%, debt of 0.01 per unit of equity. They feed the Quality Score of 62/100, which measures business quality independently of the share price.
How far is 9929 from its 52-week high?
Choice Development Inc trades at 10.90 TWD, about 27% below its 52-week high of 15.00 TWD and 10% above the low of 9.93 TWD (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 16.01 TWD is for.
Which stocks are comparable to Choice Development Inc?
From the same area (Industrials) we also value Cintas Corporation, Thomson Reuters Corporation, Copart, Inc, Global Payments 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 Choice Development Inc stock attractive at the current price?
The data as of Sep 24, 2026: price 10.90 TWD, calculated fair value 16.01 TWD (+47%), Quality Score 62/100, from 14 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 9929 calculated?
We run Choice Development Inc through 14 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 16.01 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 14.0 % above its aggregate fair value. Choice Development Inc currently trades 47 % 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 Choice Development Inc (9929)?
The closing price on Sep 24, 2026 was 10.90 TWD. Our model-based fair value is 16.01 TWD, about +47% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Choice Development Inc right now?
The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid quality (62/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (10.72 TWD to 21.30 TWD) leaves room in how you read the outcome.
Key figures of Choice Development Inc
How large is the market capitalisation of Choice Development Inc (9929)?
The market capitalisation of Choice Development Inc is 1.1B TWD (≈ $33.9M). 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 Choice Development Inc (9929)?
The price-to-sales ratio of Choice Development Inc is 1.75 (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 Choice Development Inc (9929)?
Earnings per share at Choice Development Inc are −0.0700 TWD. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Choice Development Inc (9929)?
The net margin of Choice Development Inc is −1.1% (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 Choice Development Inc (9929)?
The return on equity (ROE) of Choice Development Inc is 3.2% (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 Choice Development Inc (9929)?
On an EBIT basis the return on assets of Choice Development Inc is 0.3% (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 Choice Development Inc (9929)?
The operating margin of Choice Development Inc is 12.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Choice Development Inc (9929)?
Revenue at Choice Development Inc is growing −2.3% versus a year earlier (3y avg +2.5%). 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 Choice Development Inc (9929)?
Earnings per share at Choice Development Inc are growing +200% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Choice Development Inc (9929) carry?
The net debt of Choice Development Inc is 522M TWD (fiscal year 2025, ≈ 3.5 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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