CHC Resources Corp (9930) fair value: what the stock is really worth
As of Nov 9, 2026: fair value (intrinsic value) of CHC Resources Corp stock TWD 66.30, price TWD 57.50, upside +15.3%, quality 72 out of 100. Rating: undervalued. Calculated from audited financials with 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 8, 2026.
How to read this chart
60‑month range 39.38 TWD – 81.30 TWD · fair‑value band 43.77 TWD – 82.88 TWD · the 57.50 TWD price screens below the 66.30 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 8, 2026.
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CHC Resources Corporation, together with its subsidiaries, produces, processes, and sells construction materials in Taiwan and internationally. It operates through Blast-Furnace Slag Cement Division, Resource Reutilization Division, and Others segments.
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The company offers blast furnace slag (BFS) powder; ground granulated and Portland blast furnace slag cement; iron powder; refractories; dry-mix mortar; soil improvement agents; lightweight partition grouting materials; and air-cooled BFS aggregates.
It also provides basic oxygen furnace slag graded aggregates for land leveling and preparation, and seawall backfill projects; and solidification and remediation projects.
In addition, the company engages in the disposal of waste; trading; human dispatch; sale of fly ash; real estate lease; management of raw materials; and reutilization of artificial fluorite and aluminum slag.
Further, it provides laboratory services, including analysis of cement; testing of physical properties and chemical composition of cement, furnace slag powder, and fly ash of other factories; examining the test object of the sand sludge, and the strength of the concrete test objects; exchanging technology and experience with other concrete corp; and corporate with academic organizations to research on the application of furnace slag powder.
The company was formerly known as China Hi-Ment Corporation and changed its name to CHC Resources Corporation in August 2010. CHC Resources Corporation was incorporated in 1991 and is headquartered in Kaohsiung, Taiwan.
Stock analysis
CHC Resources Corp (9930) currently trades at 57.50 TWD, while our model-based Fair Value estimate is 66.30 TWD, implying the stock looks roughly 13% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 86.96 TWD per share, and 19 of the 26 models we run sit above the 57.50 TWD price.
Bear case: the Asset-Based group reads lowest at 17.76 TWD, and 7 of the 26 models stay below the price. Data coverage for this calculation is high.
Scenario range: 43.77 TWD (bear) to 82.88 TWD (bull), the price of 57.50 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 72/100 (solid quality), in the Basic Materials sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
CHC Resources Corp reported revenue of 14.0B TWD in FY2025 versus 10.8B TWD in FY2021, a compound +6.8%/yr. Reported net income was 1.2B TWD in FY2025, compounding +14.8%/yr from FY2021.
Key figures
Market cap 14.3B TWD (≈ $436M) Small · P/E ratio 13.1 · P/S ratio 1.06 · EPS (TTM) 4.39 TWD · Dividend yield 7.0% · Net margin 8.1% · Return on equity 17.8% · Return on assets (EBIT) 9.9% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 57 out of 100 (low confidence).
What moves the price
The share trades about 21% below its 52-week high and at its 52-week low, currently below its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at −21% fair-value upside, at 15%, 9930 screens cheaper than that median.
Fair Value models
Bear43.77 TWDFair Value 66.30 TWDBull82.88 TWD
Price 57.50 TWD · Upside +15.3%
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 (0.3344 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.
Best data coverage
FCF DCF58.49 TWD88.23 TWD129.53 TWD80
Growth DCF59.05 TWD84.98 TWD118.71 TWD79
Owner Earnings54.82 TWD82.81 TWD121.66 TWD76
All 26 models by family
DCF Models
FCF DCF58.49 TWD88.23 TWD129.53 TWD80
Owner Earnings54.82 TWD82.81 TWD121.66 TWD76
5Y Revenue Exit53.91 TWD85.98 TWD126.59 TWD72
5Y EBITDA Exit60.55 TWD98.42 TWD142.28 TWD75
5Y P/E Exit54.95 TWD87.94 TWD122.28 TWD70
10Y Revenue Exit53.49 TWD82.08 TWD119.90 TWD66
10Y EBITDA Exit59.04 TWD90.22 TWD131.19 TWD68
10Y P/E Exit55.68 TWD83.36 TWD116.80 TWD64
Earnings-Based
Graham-Dodd33.74 TWD105.66 TWD140.61 TWD64
Lynch FV23.06 TWD32.94 TWD42.83 TWD61
PEG = 1.023.06 TWD32.94 TWD42.83 TWD57
EPV39.08 TWD45.25 TWD50.47 TWD74
Dividend Discount
Gordon GGM32.83 TWD61.70 TWD88.20 TWD67
DDM Multi-Stage32.83 TWD52.16 TWD65.60 TWD67
Multiples
P/E Multiple63.26 TWD84.34 TWD105.43 TWD63
P/S Multiple63.26 TWD84.34 TWD105.43 TWD58
P/B Multiple47.72 TWD63.62 TWD79.53 TWD55
EV/EBIT54.32 TWD76.34 TWD98.37 TWD65
EV/EBITDA61.74 TWD86.23 TWD110.73 TWD67
EV/Revenue45.51 TWD70.05 TWD94.59 TWD53
Asset-Based
NCAV (Graham)13.26 TWD17.76 TWD26.51 TWD54
Growth DCF
Growth DCF59.05 TWD84.98 TWD118.71 TWD79
Rev-Margin DCF53.91 TWD86.27 TWD123.59 TWD72
Economic Profit
Residual Income28.88 TWD35.21 TWD47.83 TWD76
ROIC Compounder41.28 TWD51.61 TWD63.42 TWD72
Growth Earnings
Growth-Adj P/E53.73 TWD76.76 TWD99.79 TWD67
The fair value above starts from this blend and is adjusted for a cyclical peak year.
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.79/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+5.3%
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.
+7.1%
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.
+7.0%
Start year 2020 (pandemic). Over 10 years: +6.1% a year
Revenue growth 17 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.
+6.2%
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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.
+17.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year+10.1%
Dividend (yield on the price)7.0%
Per share before 2008divided by the spin-off factor 1.03
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.10.1% vs 3.2%, picking up
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% → 11%
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.
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).
−1.5%
The company could shrink this much every year for the next five years and today's price would still be justified.
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 −3.0% 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.Building Materials · 259 stocks
Beats the industry median on 11/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score72 · Top 25%
Fair Value upside+15.3% · Above median
Profitability
Return on equity (12 months)17.8% · Top 25%
Return on assets10.7% · Top 25%
Net margin (12 months)8.1% · Above median
Operating margin (12 months)9.0% · Above median
Growth and dividend
Revenue growth (quarter YoY)−8.1% · Below median
Dividend yield (12 months)7.0% · Top 25%
Balance sheet
Debt / equity0.18× · Above median
Valuation Multiplesvs Building Materials median · lower = cheaper
P/E (12 months)13.1× · Cheaper than median
P/B2.17× · Priciest 25%
P/S (12 months)1.06× · Cheaper than median
Price / free cash flow (fiscal year)9.6× · Cheaper than median
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Is CHC Resources Corp (9930) overvalued or undervalued?
As of Nov 8, 2026, our model estimates a fair value of 66.30 TWD versus a price of 57.50 TWD, about +15% upside (undervalued).
What is the fair value of 9930?
Our model-based fair value for CHC Resources Corp is 66.30 TWD (as of Nov 8, 2026), built from audited fundamentals. The current price: 57.50 TWD.
What is the quality score of 9930?
CHC Resources Corp has a Quality Score of 72/100. 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 CHC Resources Corp (9930)?
Our model-based price target is the fair value of 66.30 TWD (as of Nov 8, 2026) from 26 valuation models. Cautious scenario 43.77 TWD, optimistic scenario 82.88 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the CHC Resources Corp stock forecast for 2026?
Our models put fair value at 66.30 TWD, about +15% upside versus a price of 57.50 TWD (undervalued). Cautious scenario 43.77 TWD, optimistic scenario 82.88 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of CHC Resources Corp (9930)?
CHC Resources Corp reported trailing-twelve-month revenue of about 13.5B TWD (latest available figure, as of Nov 8, 2026).
Does CHC Resources Corp pay a dividend?
CHC Resources Corp currently shows a dividend yield of 6.96% relative to its recent price (as of Nov 8, 2026).
How much is the dividend of CHC Resources Corp (9930) and when is the ex-dividend date?
CHC Resources Corp pays a dividend of 4.00 TWD per share a year, a dividend yield of 7.0%. The last ex-dividend date was Jun 24, 2026. The payout ratio is 91.1% of earnings. Free cash flow covers the dividend 1.50 times. Our assessment: Sustainable. Payout and cash coverage both look sustainable.
What growth is priced into CHC Resources Corp (9930)?
For today's price to be fair in a discounted-cash-flow model, CHC Resources Corp would have to grow free cash flow by -1.5 % 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 +7.0 % per year. As of Nov 8, 2026.
What discount rate (WACC) does the fair value of 9930 use?
Our models discount CHC Resources Corp at 10.3 %: a base by market capitalisation (small), damped by beta 0.11, 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 CHC Resources Corp that is -1.5 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (10.3 %) and the same formula as our fair value.
How much growth has CHC Resources Corp (9930) delivered so far?
Over the past 5 years revenue at CHC Resources Corp grew +7.0 % a year. The price currently implies free-cash-flow growth of -1.5 % 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 CHC Resources Corp (9930) growing?
The median revenue growth in the sector is +9.8 % a year. That is the yardstick for the growth priced into CHC Resources Corp (-1.5 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of CHC Resources Corp (9930)?
The free-cash-flow yield on the price is 10.42 %: that much free cash flow CHC Resources Corp 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 CHC Resources Corp (9930)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For CHC Resources Corp it is 66.30 TWD per share (as of Nov 8, 2026), against a price of 57.50 TWD. It is the blended result of 26 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is CHC Resources Corp stock overvalued or undervalued in 2026?
As of Nov 8, 2026, 9930 trades below its calculated fair value: price 57.50 TWD, fair value 66.30 TWD, a gap of about +15% (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 9930?
No. The price is what the market pays today (57.50 TWD); the fair value is what the company's own numbers justify (66.30 TWD). For CHC Resources Corp the two are 8.80 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is CHC Resources Corp worth?
The market values CHC Resources Corp at about 14.3B TWD (market capitalisation, as of Nov 8, 2026). Per share that is 57.50 TWD; our models calculate a fair value of 66.30 TWD per share.
What do the bullish and bearish scenarios say about 9930?
Our models span a range for CHC Resources Corp: cautious scenario 43.77 TWD, base 66.30 TWD, optimistic 82.88 TWD per share (as of Nov 8, 2026, price 57.50 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 9930?
CHC Resources Corp trades at a price-to-earnings ratio of 13.1 (as of Nov 8, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 66.30 TWD is built from several models across several years. Median P/E at fiscal year-end, 8 fiscal years (2018 to 2025), reported earnings: 15.3. Other multiples: P/B 2.2, P/S 1.1, EV/EBITDA 8.1.
How solid is the balance sheet of CHC Resources Corp (9930)?
Balance-sheet figures for CHC Resources Corp (as of Nov 8, 2026): return on equity 17.8%, debt of 0.18 per unit of equity. They feed the Quality Score of 72/100, which measures business quality independently of the share price.
How far is 9930 from its 52-week high?
CHC Resources Corp trades at 57.50 TWD, about 21% below its 52-week high of 72.60 TWD and at the low of 57.50 TWD (as of Nov 9, 2026). Distance from the high says nothing about value: that is what the fair value of 66.30 TWD is for.
Which stocks are comparable to CHC Resources Corp?
From the same area (Basic Materials) we also value CRH plc, Holcim AG, Martin Marietta Materials, Inc, Vulcan Materials Company, 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 CHC Resources Corp stock attractive at the current price?
The data as of Nov 8, 2026: price 57.50 TWD, calculated fair value 66.30 TWD (+15%), Quality Score 72/100, 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 9930 calculated?
We run CHC Resources Corp through 26 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 66.30 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. CHC Resources Corp currently trades 13% 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 CHC Resources Corp (9930)?
The closing price on Nov 9, 2026 was 57.50 TWD. Our model-based fair value is 66.30 TWD, about +15% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with CHC Resources Corp right now?
A fairly wide model range (43.77 TWD to 82.88 TWD) leaves room in how you read the outcome. The price sits in the lower half of our model range, the side with the larger margin of safety. The data supports the verdict: every model runs on fully documented inputs.
Where does the earnings growth of CHC Resources Corp (9930) come from?
Earnings per share at CHC Resources Corp grew +2.7 % a year from 2014 to 2025. Broken into its drivers: revenue per share +7.0 %, EBIT margin −3.4 %, tax rate −0.4 %, residual (interest, one-offs) −0.3 %. 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 CHC Resources Corp
How large is the market capitalisation of CHC Resources Corp (9930)?
The market capitalisation of CHC Resources Corp is 14.3B TWD (≈ $436M). 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 CHC Resources Corp (9930)?
The price-to-sales ratio of CHC Resources Corp is 1.06 (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 CHC Resources Corp (9930)?
Earnings per share at CHC Resources Corp are 4.39 TWD (price ÷ EPS = P/E 13.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of CHC Resources Corp (9930)?
The dividend yield of CHC Resources Corp is 7.0% (payout 91.1%). 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 CHC Resources Corp (9930)?
The net margin of CHC Resources Corp is 8.1% (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 CHC Resources Corp (9930)?
The return on equity (ROE) of CHC Resources Corp is 17.8% (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 CHC Resources Corp (9930)?
On an EBIT basis the return on assets of CHC Resources Corp is 9.9% (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 CHC Resources Corp (9930)?
The operating margin of CHC Resources Corp is 9.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at CHC Resources Corp (9930)?
Revenue at CHC Resources Corp is growing −8.1% versus a year earlier (3y avg +7.1%). 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 CHC Resources Corp (9930)?
Earnings per share at CHC Resources Corp are growing −22.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does CHC Resources Corp (9930) carry?
The net debt of CHC Resources Corp is 2.9B TWD (fiscal year 2025, ≈ 2.0 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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Broad data
Nov 8, 2026