Choice Development, Inc (9929) Fair Value & Analysis
Industrials · TW · Market cap 1.1B TWD
Fair value as of: Jul 21, 2026
From 16 valuation models · updated 20 days ago
Share price +4.6% over the past month.
A solid business, screening 40% undervalued on our models.
What matters now
- 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.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 21, 2026.
How to read this chart
60‑month range 7.63 TWD – 19.00 TWD · fair‑value band 10.72 TWD – 21.30 TWD · the 11.45 TWD price screens below the 16.01 TWD fair value. Dashed = 300-day average. As of Jul 21, 2026.
Analysis
Choice Development, Inc (9929) currently trades at 11.45 TWD, while our model-based Fair Value estimate is 16.01 TWD, implying the stock looks roughly 39.8% undervalued today. The Quality Score stands at 62/100 (solid quality), in the Industrials sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.
Over the trailing twelve months, Choice Development, Inc generated revenue of 646M TWD at a net margin of 4.2%. Revenue declined 2.3% year over year. It earns a return on equity of 3.2%. Net debt stands at 522M TWD. Fundamentals as of Jul 21, 2026
Our scenario range runs from 10.72 TWD (bear case) to 21.30 TWD (bull case); at 11.45 TWD, the current price sits within 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 24% below its 52-week high and 16% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -35% fair-value upside, at 40%, 9929 screens cheaper 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 16 models by family
Widest divergence: DCF Models (17.37 TWD) versus Dividend Discount (3.35 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 21, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 60 · Market factors (momentum, volatility) 38
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
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.
Full company description
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.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
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.
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Peer Group
Specialty Business Services · 253 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 Specialty Business 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.
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 Specialty Business Services stocks, each showing price versus our Fair Value estimate (as of Jul 21, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Cintas Corporation CTAS | $206.25 | $95.30 | -54% |
| RELX PLC RELX | $33.70 | $32.49 | -4% |
| Thomson Reuters Corporation TRI | C$133.87 | C$70.40 | -47% |
| Copart, Inc CPRT | $27.61 | $28.59 | +4% |
| Global Payments Inc GPN | $80.49 | $69.67 | -13% |
| RB Global, Inc RBA | C$156.43 | C$49.14 | -69% |
| Brambles Limited BXB | A$18.79 | A$12.28 | -35% |
| UL Solutions Inc ULS | $87.76 | $33.62 | -62% |
| Wolters Kluwer N.V WKL | €62.56 | €103.99 | +66% |
| Aramark ARMK | $56.74 | $13.73 | -76% |
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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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